## Royal Eltham Preschool AGM Minutes- St Luke’s Hall Date: 15.11.23 Present: Ros, Jane, Anita Sheen, Ellen Millar, Sophie Killick, Alison, Julie Benstead, Hannah Perris, Rosie Minutes: ||Agenda Item||Acton by| |---|---|---|---| |1|Apologies and
welcome|REPS staf, Dave Hale, Andy Richmond
Welcome by|| |2|Minutes from
Last Meetng|All agreed.
Signed byAnita|| |3|Julie (chair
person’s report)|Chair’s report 2023 by Julie
Benstead
It has been an extremely busy year,
my frst year in post as chair and I
am so glad I stepped up to fll the
position. I have thoroughly enjoyed
spending a few Friday lunchtimes
volunteering and getting to know
the children.
I know I can speak on behalf of the
committee, when I say we are so
proud of the whole pre-school team
for achieving another Outstanding
grade from Ofsted, no mean feat.
The report made for a very good
read and summed up the pre-school
well. Having volunteered for those
few Fridays, I know the report is a
true refection of what happens day
in, day out, and I am super proud to
be a small part of such a happy
place.
We have enjoyed a successful
fundraising year, mainly raising
money for new furniture, with the
help of easy fundraising and a great
quiz night, thanks to Dave and
Sophie, who have both worked
tirelessly this year.
I was so happy that Supertato and
friends made an appearance for
World Book Day again this year,
always a highlight.
Sports day was well attended, great
fun and enjoyed by all.
The family picnic was fantastic. Face
paintinghad a steady queue allday,|| |||poor Helen’s back, but it is always a
frm favourite. Alison and I had a lot
of visitors for our forest school
activities, they all loved the Dugee
style badge, (thank you Sophie),
some children stayed with us for
almost the whole session. The
atmosphere was relaxed and there
were happy smiling children and
adults wherever you looked,
obviously helped by the amazing
cakes on ofer.
I could go on and on, about the
continuing success of The Royal
Eltham Pre-School, but there are
other reports to be read. I would just
like to say thank you for welcoming
me onto the committee, it has been
a real pleasure.|| |---|---|---|---| |4|Ros
(supervisor’s
report)|Supervisors Report September 2022- August 2023
We had a full quota of children on roll this
September and a busy year with the children.
New initatves that were introduced such as
Tapestry, Makaton, TastEd and number bonding
are now embedded in the day-to-day actvites
and are proving to be very successful.
All staf updated safeguarding training and 2 staf
members are in the process of studying for level
3 and 4 child care qualifcatons.
Thank you to the commitee for their support in
fundraising, such as arranging and being involved
in the running the summer picnic and quiz night,
contactng companies such as Co-op to enlist
support, arranging new signage and promotng
the setng.
I would like to fnish by saying on behalf of Jane
and myself that we were so delighted to achieve
our second Ofsted outstanding grade in June.
This for us was confrmaton of the hard work,
professionalism and dedicaton from the whole
team. Sally, Michelle, Linda, Emma and Hayley,
we would like to thank you all.|| |||Jane and Ros|| |---|---|---|---| |5|Sophie
(Treasurer’s
report)|Treasurers Report
REP Financial Statements 2021/22
The pre-school generated a loss of £1027 for the
2021/22 academic year.
The decrease in income is primarily driven by a
reduced amount of intake due to a challenging
set of children and special needs.
INCOME Parent Fees totalled £18,566 ( £18,874
2020/21), and is comprised of charges to parents
for hours in excess of, or not qualifying for
Government funded hours.
Income from Royal Greenwich Council Funded
Places totalled £113,854 (2020/21: £120,029. The
decrease is because of smaller amount of
children.
Other Income Proft from Fundraising was £956
which was made up from donatons and
fundraising from the party in the park and quiz
night.
Expenditure:
Expenditure reported under premises is rent for
the year and totals £10,500. There was no rent
increase but this needs to be factored in to next
year. There was an additonal expense of £700 for
fence repairs.
Wages:
Costs for the year totalled £113,983. (£197,748:
2020/21). Salary rise has taken efect and there
were additonal hours needed from Charlote to
cover 1-1 care.
Equipment:
Expenditure on equipment totalled £3,659.
Purchases made were predominantly for
replacing toys.
Insurance costs totalled £1237 which is
comparable to the previous year.
Consumables:
Costs are largely comprised of arts and crafs
supply and cooking ingredients.
This totalled £1665 this year and was lower due
to smaller class size and the rise in consumables
was higher due to 50th birthday celebratons the
previous year. (2020/21: £2808)
Administratve Costs
Costs for the year were £4462 (2019/20: £4846).
This spend is comprised of website
developments,ipad and laptop purchase(part|| |||funded by donatons) and the Makaton training
subscripton.
Debtors: Parent fees are all setled.
The payroll company hold £2793. A standing
order is sent each month an as a result
sometmes credit is built up over a period of tme.
The standing order is due to be reduced to
reduce the credit held by the payroll company.
There was one accountng admin error of £250
that has afected the debtors, but there is
currently no outstanding debt.
Balance Sheet:
The pre-school bank account balances and pety
cash in hand total £92,907 plus another £2793
held in credit at the payroll company. The
balance shown remains healthy but needs to be
closely monitored to ensure further losses can be
avoided.|| |---|---|---|---| |6|Electon of
ofcers|Sophie and Ellen agreed to stay as Treasurer and
Secretary respectvely
EGM to be arranged in January so Julie can step
down as chair and Anita can be reinstated as
chair.|Arrange EGM
January.| |7|AOB|Quiz night – to be arranged afer Christmas
Feb, before half term.
Numbers are not as high for January as we would
like. Concern about wrap around care comes up a
lot. Numbers will hopefully pick up in September
when new funding comes in and January starters
begin to increase their hours.
Rosie said the Facebook page has been really
good and is useful for parents to see.
Sophie said Alex happy to take the lead on
Facebook a while longer.
New newsleter template is ready to go – Jane
needs to meet with Dave in order to launch it
Sophie mentoned photographer who took lovely
photos of her sons – said she was happyto come|Ros to email
church to fnd
dates
Sophie to ask
Alex for some
templates to
make it easier
for Ros and
Jane to
upload their
own post
Jane to
arrange date
with Dave
Sophie to ask| |||in and take photos for free, then parents could
buy them. Probably wouldn’t be any commission
for pre school as she would be taking the photos
for free. However, could ask her if she could
increase prices slightly so that Pre school could
get some commission.
Summer picnic – all agreed we should do it again
this summer.
Fundraising - Outdoor equipment eg. Bikes,
trikes,
Rosie suggested sweatshirts with pre school logo
on for kids. Rosie happy to help with design as
she is a graphic designer|if we could
add
commission
Add Hannah
back onto
news leter
list
Jane to
investgate| |---|---|---|---| |11|Next Meetng|EGM – 17.01.24 7.30pm in the hall|| **Royal Eltham Pre-School Finance Report 12 months to 31 August 2023** ## **1) Notes to Accounts** |a) Creditors
ii] Parents fees Paid in advance
b) Debtors
i) Payroll Service
ii) Parent Fees Outstanding
**2) Details of Accounts– Income**
**Income from Fundraising**
Christmas
Easter Egg Raffle
Easy Fundraising
Westmount Walk
Quiz and Raffle night
Raffle
Donation
**Income from Fundraising**
**Other income**
Other - Interest
**Other income**
**3) Details of Accounts – Expenditure**
**Other expenditure**
Staff Christmas Party
Living Eggs
Other|**2022/23**
**2021/22**
0
2,818
2,793
304
254
**3,122**
**3,047**
**2022/23**
**2021/22**
100
94
100
94
536
169
6
15
612
419
**1,354**
**791**
323
**1,677**
**791**
7
0
**7**
**0**
**2022/23**
**2021/22**
480
469
348
348
60
**828**
**877**| |---|---| **Royal Eltham Pre-School Finance Report 12 months to 31 August 2023** |**Summary of Income and Expenditure**
**Income**
Parent fee
LBG Free Places
Income from fundraising
Interest
Other
**Expenditure**
Premises
Wages
Equipment
Insurance
Consumables
Admin
Other
**Net Surplus /(Loss)**|**2022/23**
**2021/22**
15,522
18,566
117,915
113,834
1,676
956
7
0
0
0
**135,120**
**133,356**
11,360
10,500
109,744
111,983
1,891
3,659
1,274
1,237
2,148
1,665
3,113
4,462
828
877
**130,358**
**134,383**
**4,762**
**(1,027)**| |---|---| ## **4) Summary of Income and Expenditure** **Royal Eltham Pre-School Finance Report 12 months to 31 August 2023** |**5) Capital Account for the Year**
Opening Balance
Income
Expenditure
**Represented by:**
Bank Current Account Lloyds TSB 9060
Bank Current Account Lloyds TSB 9468 (Fundraising)
Cash in hand
Debtors|**2022/23**
**2021/22**
95,953
96,980
135,120
133,356
(130,358)
(134,383)
**100,715**
**95,953**
95,578
90,893
1,264
1,257
752
757
3,122
3,047
**100,716**
**95,954**| |---|---| ## **Royal Eltham Pre School 2022/23** 5th October 2023 ## Note to the Accounts 2022/23 I have audited the balance sheet of the Royal Eltham Pre School and the associated income and expenditure reports I have carried out a number of checks in reviewing these accounts including - Checking of all balances carried forward from 21/22 to 22/23, for balance sheet and bank balances - Ensuring appropriate treatment of creditors and debtors from 21/22 to 22/23 accounts - Review of invoices raised through to payment / adjustment and tracking invoices for income through to the relevant accounts - Review of payments using sample checking to ensure appropriate treatment of transactions through to the relevant accounts - Agreeing 22/23 Income and expenditure reports are summarised within the appropriate accounts - Ensuring the balance sheet is reported appropriately - Ensuring appropriate treatment of payments /income relating to future / past periods It is in my opinion that these financial statements have been produced using generally accepted accounting principles. ## **Observations** A few observations for 22/23. The Preschool have made a surplus in year of £4.8k, this is primarily driven by a reduction in expenditure of c.£4k in year compared to 21/22 . ## **Income** There was a small increase in income in year of c.£1.8k - Reduced Parent fees of £3k – reflecting demand for places - LBG Places – Increase of £4k ## **Expenditure** Wages have increased by 2% in year, this is partly explained by a pay rise in excess of c.3% offset by a post becoming vacant in year. ## **Summary** The preschool accounts remain in a healthy position, the cash reserves of c.£96k provides sufficient cover should there be any delay in cash flow. Effectively the reserves available would cover c.11 months’ worth of expenditure. ## **Recommendation** The pre-school accounts remain in a healthy position and there are no new recommendations. Simon Hooton, FCMA, CGMA