Royal Eltham Pre-school Committee Meeting Minutes
Location: Royal Eltham Pre-school
Date: 04/02/2025
Present: Anita Sheen, Jane Guest, Ros Metaxas, Sophie Killick, Andy Richmond, Katie Jackling-Sharples, Hannah Perris
| Agenda Item | Action by | ||
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| 1 | Apologies and welcome |
Apologies received from Julie Bensted. Welcome from the Chair and introductions for the benefit of KJS |
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| 2 | Minutes from last meeting |
All actions from last AGM are complete The minutes were signed by AS |
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| 3 | Chairperson’s report |
The start of the academic year in 2024 went well with several children returning and a good number starting at the beginning of the year. The staff have kept the children busy learning new skills, growing in confidence in all areas of their development, while keeping them safe in an ever changing and exciting environment. The staff work hard to give the children the best start in life so that they can go on and be successful learners at school. This year has seen changes within the Early Years Sector with new frameworks, DFE guidance and regulations for the staff to work with. The Pre School staff have adapted teaching styles to accommodate the various needs of the children within the Pre School with these in mind. The hall has had a massive overhaul and been redecorated with new cupboards for better storage which I believe had made the space feel and look cleaner along with a more modern feel. Some of our fundraising didn’t go ahead quite as planned, however thanks to the generosity of parents and the work of the committee to gain support from local businesses this has not had a major impact. We have been able to buy new equipment that was needed, fund projects that are run and have some fun |
| along the way. We are so very lucky to have had such committed staff and committee members for a number of years now, I hope that this continues for the future. We would welcome any new members as this helps to keep things fresh with new ideas, skills and perspectives. I know that I talk with pride about the Pre School and how lovely it feels here. Thank you to everybody that is part of the brilliant Pre School team. |
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| 4 | Supervisors’ Report |
We are pleased to present our Supervisors’ Report for Royal Eltham Pre-School, covering the period from September 2024 to August 2025. Over the past year there have been both challenges and successes, and the pre- school has continued to develop and move forward positively. The year began with a high number of children enrolled, with strong attendance maintained throughout the year. Looking ahead, the September 2025 intake is also looking very positive. Some changes that have been made to the curriculum, changes to everyday practice, staff training and the introduction of new activities have helped to improve the overall learning environment and to continue to provide high-quality care and learning experiences. We would like to take this opportunity to thank the team for their continued hard work and dedication especially during times of their own personal challenges. A special thank you goes to Sally, Michelle, Linda, Emma and Hayley. We are looking forward to the proposed refurbishment of the hall due to take place over the summer, which will further enhance |
| the environment for the children and staff. We would like to thank the committee for their continued support, commitment and hard work throughout the year. Their ideas and efforts to raise the profile of the pre-school and to fundraise for new resources are very much appreciated. As we move into the coming year, we do so with optimism and confidence, and we look forward to seeing the pre-school continue to grow and thrive. |
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| 5 | Treasurer’s Report |
REPS Financial Statements 2024/2025 The pre-school is currently in a strong position. This year there was a surplus of £18,741. INCOME Parent fees continue to decline year on year with LBG funded places increasing (down from 11% to 9%). Overall income for child places increased by £22.3k (17%). This is a result of the Autumn intake being higher this year than the previous year. Income from Greenwich Council (RBG) funded places totalled £136,564, and Parent fees totalled £14,106. RBG funded places has risen by £23,558 compared to last year but parents fees against prior year have declined by £1,248. RBG funding paid £17,982 (50% of the Autumn term 204.25 early). This has been deferred to 2025/26 as not to distort year on |
year income. Additional income via interest earned £1.3k has been recorded as a result of following guidance from the new accountant’s observations to place funds into a high interest account without disrupting free cashflow. Other Income Fundraising was £588 which was made up from donations and fundraising primarily from the raffles. This was down against prior year over £700 due to us not doing any quiz nights or big events. EXPENDITURE Expenditure reported under premises has increased against prior year as previously discussed a £12,360 per year against £12,120 prior year. Wages Wages have risen by £288 this year (0.25%), with the London Living Wage rising I suggest that the committee agree on a further increase to wages this year to supplement the rise in cost of living and the London Living Wage rises. Equipment Expenditure on equipment totalled £2,061. The highest expenditure on equipment over the last 3 years.
Insurance costs totalled £1,341 which is slightly up from previous year. Consumables Costs are largely comprised of arts and crafts supply and cooking ingredients. This totalled £2,842 this year which was £52 higher than previous year and reflects increases in costs for consumables. Administrative Costs Costs for the year were £3303. This spend is comprised of training and development primarily. Debtors Parent fees are all settled. The payroll company hold £4,237. Balance Sheet The pre-school bank account balances and petty cash in hand total £115,851. The balance shown remains healthy but needs to be closely monitored. It has also been advised that REPS should be placing a further £10- £20k into the deposit account to continue to earn interest. A working balance of no less than £40k should be maintained in the current account to ensure liabilities are met timely.
| 6 | Election of officers |
AS nominated as Chairperson by SK and seconded by AR, SK nominated as Treasurer by HP and AS seconded HP nominated as Secretary by AR and seconded by KJS |
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| 7 | AOB | Staffing Sally will be retiring in March 2026 after almost 25 years at REPS. The committee will organise a parent collection for a garden centre voucher and ask parents for video messages. HP will collect the money. SK will compile videos. Ideally the role will be replaced with a Level 3 qualified practitioner, part-time. SK raised that younger staff need to be recruited and apprenticeships were briefly discussed. Lunchtime staff will be reviewed to ensure ratios are met. Salary increase SK will do some calculations for a potential salary increase for the staff. This will then be reviewed by the Trustees. N.B the national minimum wage increases on 1st April 2026. Fees and places The committee will discuss potential to increase parent fees once RGB funding is confirmed in March 2026. |
RM, JG HP, SK SK, JG, RM, HP |
| Two year old places will also be reviewed. Fundraising The committee will organise more fundraising events in 2026 including a quiz. Other ideas were discussed such as the picnic and hamper raffles. SK will share details of seasonal workshops which might be interesting to parents and can generate additional funds. A Just Giving campaign will be created for the chick hatching project. Committee Ideas for how to recruit regular parent attendees to the committee were discussed and a WhatsApp group will be established. The next AGM should be held in autumn 2026. |
All All SK HP HP, KJS |
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| 8 | Next meeting | 18/03/26 |
Royal Eltham Pre-School Finance Report 12 months to 31 August 2025
1) Notes to 2024/25 Accounts
| a) Creditors i) Other Liabilities - deferred Income ii] Parents fees Paid in advance b) Debtors i) Payroll Service ii) Parent Fees Outstanding 2) Details of Accounts– Income Income from Fundraising Christmas Raffle Easter Egg Raffle Easy Fundraising / Just giving Westmount Walk Quiz and Raffle night Donation 3) Details of Accounts– Expenditure Other expenditure Staff Christmas Party Living Eggs Ugly Duckling Dear Zoo Handyman Works Godstone Farm Trip Other |
2024/25 2023/24 2022/23 (17,982) (21,834) 0 (180) 0 (17,982) (22,014) 0 4,192 3,906 2,818 45 0 304 4,237 3,906 3,122 2024/25 2023/24 2022/23 100 98 100 100 100 100 110 536 536 12 0 6 266 331 612 588 1,065 1,354 340 320 323 928 1,385 1,677 2024/25 2023/24 2022/23 0 0 480 0 0 348 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 828 |
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Royal Eltham Pre-School Finance Report 12 months to 31 August 2025
| 4) Summary of Income and Expenditure Income Parent fee Deposit LBG Free Places Grants Income from fundraising Interest Other Expenditure Premises Wages Equipment Insurance Consumables Admin Other Net Surplus /(Loss) 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) Bank Current Account Lloyds High Interest Deposit Cash in hand Debtors Creditors |
2024/25 2023/24 2022/23 14,106 15,354 15,522 0 0 0 136,564 113,006 117,915 0 0 0 588 1,385 1,676 1,292 22 7 340 0 0 152,890 129,767 135,120 12,360 12,120 11,360 112,242 111,954 109,744 2,061 1,595 1,891 1,341 1,336 1,274 2,842 2,790 2,148 3,303 3,268 3,113 0 309 828 134,149 133,372 130,358 18,741 (3,605) 4,762 2024/25 2023/24 2022/23 97,110 100,715 95,953 152,890 129,767 135,120 (134,149) (133,372) (130,358) 115,851 97,110 100,715 56,269 113,507 95,578 1,292 1,280 1,264 71,281 0 0 754 430 752 4,237 3,906 3,122 (17,982) (22,014) 0 115,851 97,109 100,716 |
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Royal Eltham Pre School 2024/25
4[th] January 2026
Note to the Accounts 2024/25
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
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Checking of all balances carried forward from 2023/24 to 2024/25, for balance sheet and bank balances
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Ensuring appropriate treatment of creditors and debtors from 2023/24 to 2024/25 accounts
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Review of invoices raised through to payment / adjustment and tracking income through to the relevant accounts
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Review of payments using sample checking to ensure appropriate treatment of transactions through to the relevant accounts
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Agreeing 2024/2025 Income and expenditure reports are summarised within the appropriate accounts
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Ensuring the balance sheet is reported appropriately
It is in my opinion that these financial statements have been produced using generally accepted accounting principles.
Observation
A few observations for 2024/2025
The preschool accounts remain in a strong position. The cash reserves of c.£116k provides sufficient cover should there be any delay in cash flow. Effectively the reserves available would cover c.10 months’ worth of expenditure should there be no income over the same period
In the 2024/2025 year there was a surplus of £18,741
Income
Parent Fees continue to decline year on year with LBG funded places increasing over the same period. Parent Fees represent 9% of income from placement.
Overall income for child places has increased by £22.3k (17%) as indicated in last year’s accounts where the Autumn intake was expected to be higher than the previous year
LBG funding paid £17.982 (50% of the Autumn term 2025/26 FY) early. This has been deferred to 2025/26 so as not to distort year on year income.
Additional income via interest earned of £1.3k has been recorded as a result of following guidance from the new accountant’s observations to place funds into a high interest account without disrupting free cashflow.
Expenditure
Wages have remained in line with last year which against a backdrop of inflation and wage growth of circa 4%-5% represents a real time reduction.
All other costs have remained relatively in line with last year despite RPI being between 3% and 4% for most of the year.
Recommendation
1. It was noted that REPS continues to sit on an increasing positive cash balance in a non interest bearing account. With current cashflow analysis, a further £10£20k could be placed into the deposit account to continue to earn interest. A working balance of no less than £40k should be maintained in the current account to ensure liabilities are met timely