BUSY BEES PRE-SCHOOL Treasurers Report For the
Annual General Meeting – 2025
- Income and Expenditure in the 2024 2025 financial year ending 31[st] January 2025
The report shows an expenditure over income pre-school running figure of minus £9069 (2024 plus £5273) for the financial year ending January 2025. This figure includes £1062 in depreciation costs calculated as 30% of the net book value of the building.
Overall income increased by £16,200, however, £7,000 of this amount was in the form of Local Area Board and Parish Council grants for specified projects.
Fee income decreased from the previous year and whereas grant funding increased during the course of the year giving an overall increase within these two areas of £11,495. Increases in two year old entitlement to WC funding is largely responsible for fees declining and grant funding increasing.
The pre-school also received government funding for ISF, EYPP and DAF, all of which is ringfenced for the benefit of entitled children it is received for and any surplus must carried forward as restricted funds for spend within those areas to the following financial year.
The movement on each of the income and expenditure categories is shown on the Income and Expenditure report.
Staffing expenditure has increased in this financial year by £20,700 to £132,000
- Fund Raising in the 2024 2025 financial year
Overall a total of £1221 was raised from which £1393 was spent, leaving a net deficit amount of minus £172 which, together with the fundraising deficit brought forward from 2023-2024, leaves a total amount to carry forward to 2025-2026 of minus £516. There is a lack of accountability over fundraising income and expenditure within these accounts with no specified income and expenditure breakdown for certain events that took place throughout the financial year.
- Balance Sheet Report for the 2024 2025 financial year
The Balance sheet shows the asset figures for the 2024-2025 financial year compared with the previous financial year.
Total assets (including the value of the building) of £68713 were brought forward from the previous financial year. Surplus expenditure over income in the 2024-2025 financial year of minus £9069 leaves a total asset figure as at January 2025 of £59,644. The current asset figure (bank account balances less liabilities) has decreased from £65,173 to £57,166.
Continued
Contingency for Closure amounts
The Early Years Alliance recommends that the Pre-school keep three months running costs plus the cost of redundancy pay in hand, approximately £62,615 calculated as detailed at the bottom of the balance sheet. This figure includes Hive demolition costs and ground refurbishment.
This year the current assets held, taking into account other restricted amounts to be carried forward for fundraising, EYPP,DAF and ISF funding, are insufficient to cover the contingency amount resulting in minus £12,322 allocated to the unrestricted general fund . It should be noted that it is a legal responsibility for the Trustees of the pre-school to cover any insufficient amounts in the event of an enforced closure. It is therefore essential that the general funds held are maintained in a positive balance.
It should also be taken into account that the expected ten year life span of the current pre-school building will be reached by September 2025 and, whilst the building may still be serviceable for a number of years, contingency funds for a new build should be worked towards.
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BUSY BEES PRE-SCHOOL Treasurers Report For the Annual General Meetlng- 2025 Income and Ex endlture In the 2024-2025 flnanclal ear endln 31st Janua 2025 The report shows an expenditure over income pre-school running figure of minus £9069 (2024 plus £5273) for the financial year ending January 2025. This figure includes £1062 in depreciation costs calculated as 3010 of the net book value of the building. Overall income increased by £16,200, however, £7,000 of this amount was in the form of Local Area Board and Parish Council grants for specified projects. Fee income decreased from the previous year and whereas grant funding increased during the course of the year giving an overall increase within these two areas of £1 1,495. Increases in two year old entitlement to WC funding is largely responsible for fees declining and grant funding increasing. The pre-school also received government funding for ISF, EYPP and DAF, all of which is ringfenced for the benefit of entitled children it is received for and any surplus must carried forward as restricted funds for spend within those areas to the following financial year. The movement on each of the income and expenditure categories is shown on the Income and Expenditure report. staffing expenditure has increased in this financial year by £20,700 to £132,000 Fund Raisin in the 2024-2025 financial ear Overall a total of £1221 was raised from which £1393 was spent, leaving a net deficit amount of minus £172 which, togethpr w'itn tlie fLJndraising deficit brought forward from 2023-2024, leaves a total amount to carri, fornvaro, to 2025-2026 of minus £516. There is a lack of accountability over fundraising inconia and expenditure within these accounts with no specified income and expenditure breakdown for certain events that took place throughout the financial year. Balance Sheet Re ort for the 2024-2025 financial ear The Balance sheet shows the asset figures for the 2024-2025 financial year compared with the previous financial year. Total assets (including the value of the building) of £68713 were brought forward from the previous financial year. Surplus expenditure over income in the 2024-2025 financial year of minus £9069 leaves a total asset figure as at January 2025 of £59,644. The current asset figure (bank account balances less liabilities) has decreased from £65,173 to £57,166. Continued
Contin enc for The Early Years Alliance recommends that the Pre-school keep three months running costs plus the cost of redundancy pay in hand, approximalely £62,615 colculoted as detailed at the botlom of tlie balance sheel. This figure includes Hive demolition costs and ground refurbislimenl. This year the current assets held, taking inlo account other restricted omounts to be carried foward for fundraising, EYPP,DAF and ISF funding, are insufficient to cover the contingency amount resulting in mlnus £12,322 allocated to the unreslricled general fund. It sliould be noted tliat it is a legal responsibilily for the Trustees of the pre-school to cover any insufficient amounts in the event of an enforced closure. It is therefore essential that the general funds held are maintained in a positive balance. It should also be taken into account that the expected ten year life span of the current pre-school building will be reached by September 2025 and, whilst the building may still be serviceable for a number of years, contingency funds for a new build should be worked towards.
Independent examiner's report on the accounts CHARITY COMMISSION FOR ENGLAND AND WALES Section A Independent Examlner'3 Report Report to the trusteesl members of C.hnTltv Narne Busy Bees Pre-school On accounts for the year ended Charity no (if any) 31st January 2025 1015404 Set out on pages (rpiiiember to include the r)arJp riurnbrs fJ add,. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an independent examination is needed. [The charity's gross income exeded £250,000 and l am qualified to undertake the examination by being a qualified member of [named body]]. Delete [ ] if not applicable. It is my responsibility to: examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether particular matters have come to my attention. Basis of independent My examination was cafried out in accordance with general Directions given examinerfs statement by the Charity Commic. CJ!i. An examination includes a review of the accounting records kep:, bg tbie charity and a comparison of the accounts presented with those rtscorLia. It also includes consideration of any unusual items or disclosures in thG3 accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent In connection with my examination, no matter has come to my attention examiner's statement (other than that disclosed below ") 1. which gives me reasonable cause to believe that in, any material respect, the requirements: to keep accounting records in accordance with section 130 of the Charities Act. and to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met. or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Signed: Date: Name: Pamela J Turner IER
Relevant professional qualification(s) or body (if any): Address: ro LEA ks K* 1 (1(L. Section B Disclosuré Only complete if the examiner needs to highlight material problems.(E.g. accounting records have not been kept in accordance with s132 of the Charities, Act 2011 and those accounts do not comply with the requirements of the 2008 Regulations setting out the form and content of charity accounts; any material expenditure or action which appears not to be in accordance with the trusts of the charity; any failure to be provided with information and explanations by any past or present trustee, officer or employee. and any material consistency between the accounts and the trustees, annual report.) IER
Give here brief details of any Items that the examiner wishes to disclose. IER