## **Holbrook Pre-School Trustees Annual Report 2020-21** 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 to thrive despite ongoing difficulties encountered with the Coronavirus Pandemic. The number of children attending from in and around the local area has fluctuated greatly during this time due to the pandemic, but by July 2021 it had begun to stabilise. As a result, preschool has maintained a healthy position financially and although the picture does look somewhat different because of COVID 19 we continue to aim to sustain this stability over the coming year. Preschool does currently show a deficit of £3723 compared to the year 20192020, this is a significant change from last year’s surplus of £1307 and can be accounted for by taking into consideration that the COVID support grant received by preschool over this period was £14 as opposed to the £15911 received from the local authority during 2019-2020. Preschool remained open throughout all stages of the pandemic, but often with reduced numbers of children attending if parents preferred to keep them at home, so the reduces rate of COVID support grant will have been financially detrimental. Some outgoings were halted during this period, there was for example no expenditure for school dinners or in house activities as these were not allowed to take place due to COVID restrictions. Despite the amount of money raised through fund raising increasing during this period the amount of charitable donations received were reduced. Staffing costs during this time period have increased compared to the previous year, this is mainly due to extra staff being needed to ensure that the correct ratio of staff to children were maintained whilst keeping to ‘COVID secure bubbles’ within preschool. Some extra staffing was also required to cover COVID related and other staff absences. Our reserve balance going forward has been reduced this year from £17,348 to £12,896 this is due to the removal of a £5000 contingency payment that the committee deemed as no longer being necessary. The value held in our savings account of £23061 continues to cover the balance required and that, along with the amount of £22068 in our general account, minus our reserves amount leaves remaining funds of £32382. The accounts for the previous financial year showed a large increase in the rates/rent paid from £589 in 2019 to £7179 in 2020, this is due to some unexpected unpaid rent arears that have now been resolved and the amount being paid has been stabilised at £1936 in order to prevent this reoccurring. Less money has been spent during 2020-2021 on building repairs than during the previous time period due to the preschool roof being replaced during 20192020. 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 31.07.21 accounts and records have been externally verified by Martin Coe, an Independent Accountant. 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