## **Holbrook Pre-School Trustees Annual Report 2019-20** Holbrook Preschool is concerned with the provision of preschool education for the village of Holbrook and surrounding area. Fees are either paid by parents and/or funding from the Local Authority, fundraising may also be used to supplement income and fund activities. Preschool has continued in its progress and has had another successful year, despite difficulties encountered with the Coronavirus Pandemic. The number of children attending from in and around the local area has continued to increase. As a result, preschool remains in a health position financially and although the picture does look somewhat different because of COVID 19 we continue to aim to maintain this steady growth over the coming year. Preschool currently shows a surplus of £1307 for the year 2019-2020, this is significantly lower than during the previous financial year but is largely due to essential repairs needed on the building. Our reserve balance remains unchanged from the previous report (£17,348). The value held in our savings account of £14207 continues to cover the balance required and that, along with the amount of £34393 in our general account, minus our reserves amount allows funds of £31252 to be available should any necessary projects become apparent. During this financial period preschool received a COVID-19 Support grant of £15911 from the local authority. Preschool did remain open to children of keyworkers, so this helped to cover revenue lost due to the greatly reduced number of children attending. Fundraising opportunities were also greatly reduced during this time resulting in a reduction in funds raised by £1102 compared to the previous year. The 2019 accounts show a ‘restricted funds’ amount of £3876 whereas this amount was £0 for 2020 and should continue to be so going forward. This amount was due to outstanding unpaid fees for that period, preschool has now adopted a system to ensure that this no longer happens and that fees are paid in a timely manner, thus the amount now being £0. The accounts show a large increase in the rates/rent section from £589 in 2019 to £7179 in 2020, this is due to some unexpected unpaid rent arears that have now been resolved. Preschools repairs bill is also higher for 2020 than 2019 but this is accounted for due to the preschool building roof being repaired at a cost of £8,900. Other ways in which preschools expenditure has differed during the 2019-2020 financial year is increased expenditure on furniture due the purchase of new tables and chairs, reduced expenditure on school dinners due to fewer children attending during the pandemic and increased expenditure on cleaning materials due to there now being an intensified cleaning regime. The Manager and Deputy manager continue to utilise the eyMan system to very good effect which ensures that useful and productive dialogue between them and the treasurer can be maintained. All of preschool’s income and expenditure continues to be reconciled back to the Preschool bank account, ensuring that there is an audit trail for every transaction. The Year Ending 31.07.20 accounts and records have been externally verified by Martin Coe, an Independent Accountant. 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