## **Holbrook Pre-School Trustees Annual Report 2023-2024** Holbrook Preschool is concerned with the provision of preschool education for 2–5-year-olds for the village of Holbrook and surrounding area. This includes wrap around care from 7.30am to 5.30pm to allow for the number of parents who have now returned to office-based working. Preschool currently employs 11 permanent staff and also regularly offers placements to students and apprentices. 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 and the number of children attending from in and around the local area has continued to increase during the 2023-2024 period and as a result preschool has maintained a healthy position financially, it is anticipated that we will continue to sustain this stability over the coming year. During this time period Preschool showed a deficit of £15,349 which is significantly higher than the amount reported for 2022-2023 in which the surplus was £9577, this can be accounted for by a number of factors. During 2023-2024 the amount raised via fund raising was £1000 less than the previous year and the contributions to in house activities was half the amount of the previous financial period. The main contributing factor is however that during the 2022-2023 period preschool received a one off substantial financial donation of £6000. It was highly unlikely that this was to be repeated and indeed the total amount of donations for 2023-2024 was £277, this would therefore contribute to the higher deficit seen during this time. Other increases in expenditure were also seen during this time, some of which maybe due to an increase in the cost of living and staff wage rises. During 2023-2024 preschools staff expenditure increased from £13,5095 in 2022-2023 to £16,7930 and rent/rates greatly increased from £1294 in 2022-2023 to £5876 in 2023-2024. The amount spent on school dinners, learning resources and training and professional fees also increased during 2023-2024, this may however reflect preschools continued growth and the need to meet staffing and children’s needs. Our reserve balance going forward is currently at £16,829, this again reflects the increase in staff wages. The value held in our savings account of £22,161 continues to cover the balance required, and that, along with the amount of £25,401 in our general account, minus our reserves amount leaves remaining funds of £30,733. The Manager and Deputy manager now use the Family App system to generate invoices and track payments; this enables staff to manage payments effectively and ensures that a 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 31.07.24 accounts and records have been externally verified by Martin Coe, an Independent Accountant. 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Responslbllitios and basis of report As the charity trustees of the Preschoolyou are responsible for the preparation of the accounts in accordance wfth the requirements of the CharitiesAct 2011 {'the Act.). I report in respect of my examination of the Preschool's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed allthe applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a'true and fairview which is not a matter considered as part of an independent examination. I have no concerns 8nd have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Name: Martin Coe A.A.T Address: 49 Sandbed Lane. Belper. Derbyshire DE560SJ Date: 22- May 2025