Rainbow Early Years
TREASURERS REPORT 2024
the Financial Year Ending 31[st] August 2024
The accounts, for the year ending 31[st] August 2024 have been produced for presentation to the Trustees of the pre-school and the final copies of the Balance Sheet and Income and Expenditure report are attached at the end of this report.
The Income and Expenditure Account shows the operating income and expenditure for the year. During the financial year the group has
| Received income of | £141,388 |
|---|---|
| From which there has been expenditure of | £118,320 |
| Resulting in a surplus of | £ 23,068 |
By comparison with the previous financial year, where there was a deficit of £27,574 this shows a difference in operating profits of over plus £50,642. A significant increase in uptake of sessions and less need to spend on equipment in this financial year, due to a high spend in the previous year, has helped to achieve this difference, along with a grant of £1,800 from St. James Trust and a massive fundraising effort by both the staff and trustees resulting in a surplus in fundraising income over spend of £2,957.
The Balance Sheet As at 31[st] August 2024 shows the book balance of monies held by the PreSchool as follows:-
| Lloyds Bank Treasurers Current Account | £ 6,510 |
|---|---|
| Lloyds Deposit Account | £67,306 |
| Operating cash income held in petty cash | £ 80 |
| Manager’s Large Purchases Account | £ 2501 |
| Giving total cash assets of | £74,146 |
| The Pre-school has outstanding debtors to the value of | £ 5,8712 |
| Therefore the total current assets are | £84,455 |
| However, there are current liabilities amounting to | £ 4,438 |
| Resulting in net assets of | £75,579 |
Continued
1The Manager’s large purchase account has been set up to record the withdrawal of petty cash funds in August 2023 by the then manager of the setting (this is not the current manager) to purchase equipment on behalf of the pre-school. The items purchased or a reimbursement of the amount held are still awaited.
2 The debtors figure is made up of £137 outstanding fees and £5,734 to be reimbursed from HMRC for PAYE refund due to SMP. HMRC have been contacted for repayment.
Accumulated fund
It should be noted that of the accumulated fund figure contains amounts are required to be held in the event of closure. These amounts are for
| Redundancy and notice contingency | £ 17,310 |
|---|---|
| Building disposal and making good the land | £ 15,000 |
| Grant/fee reimbursement | £ 10,594 |
| 3 months funning costs | £ 4,504 |
| Ringfenced amounts: | |
| Fundraising | £ 5,179 |
| Grants and Donations (lottery grant) | £ 6,099 |
| Giving a total reserved amount of | £ 58,686 |
| Leaving a general unreserved fund to carry forward of | £ 16,893** |
| Resulting in a total accumulated fund to carry forward of | £ 75,579 |
** Note that there is a commitment of expenditure for the next 4 years to Citation Limited for Health and Safety and HR support, put in place prior to the current management structure of the pre-school, of a minimum of £3412 (charged for March 2024 to February 2025) increasing by the greater of RPI (4.81% at the time of reporting) or 3%. At a minimum the setting is looking at the following minimum amounts committed per year
| 2024-2025 | £ | 3412 |
|---|---|---|
| 2025-2026 | £ | 3515 |
| 2026-2027 | £ | 3620 |
| 2027-2028 | £ | 3729 |
These amounts are budged for within annual expenditure.
Continued
Rainbow Early Years Pre-school Income and Expenditure Account
Charity Registration Number 1016250
For the year ended 31 August 2024
| Receipts Fees WC Grant Funding Milk Grant EYPP ISF Income DAF Income Free School Meals Income Uniform/Clothing Income Sundry Training Trips Interest Received Fundraising Income Grants and Donations Rounding adjustment TOTAL RECEIPTS Payments Uniform/Clothing Spend DBS Checks Milk Spend Consumables Food Consumables Staff refreshments Licences Cleaning Memberships and Subscriptions Repairs and Renewals adjustment rom prev fy Snack Costs Electricity Water Rates Rates Office Costs Web Hosting Equipment Internet & Telephone Printing Advertising and Promotion Leasing Payments Accountancy Fees Bank/Finance Charges Insurance Health and Safety Human Resources Refuse costs Motor Expenses Grants and Donations Spend adjustment rom prev fy Free School Meals Spend ISF spend EYPP spend DAF spend Fundraising spend Staffing Staff Salaries Employers NI Pension Employers Staff Training Staff Uniform and Clothing Bad Debts Written Off Rounding adjustments TOTAL PAYMENTS SURPLUS INCOME OVER EXPENDITURE Running Costs Other income Fundraising Childcare income |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 14,511 90,092 90 2420 1800 0 0 108,913 2570 121 0 0 0 191 2882 424 500 924 112,719 112,719 32 195 38 6442 783 65 153 0 909 2590 0 3389 451 587 127 146 5794 571 16 58 0 3271 88 1862 3339 1534 504 476 3860 2570 32 2420 0 380 42682 94,968 0 1489 1046 103 97,606 140,288 5 140,293 -27,574 2022-2023 |
|
|---|---|---|---|---|---|
| 23,068 |
Rainbow Early Years Pre-school Balance Sheet
Charity Registration Number 1016250 As at 31 August 2024
----- Start of picture text -----
2023-2024 2022-2023
£ £ £ £
Current Assets
Bank Lloyds Current Account 6,510 16,810
Lloyds Deposit Account 67,306 36,831
Manager's Large Purchases Account 250 0
Petty Cash held 80 -275
74,146 53,366
Debtors 5,871 2,576
Less Creditors
other creditors 4,438 3,431
1,433.00 -855.00
Net assets 75,579 52,511
Total Funds Accumulated Reserves bf 52,511 80,085
Net profit/(loss) 23,068 -27,574
Year end adjustment 0 0
Total funds 75,579 52,511
Held as Ringfenced Reserved Funds
ISF 0 1,768
EYPP 0 0
DAF 0 0
Grants and Donations 6,630
Lottery 4,299
St James Trust 1,800
Fundraising 5,179 2,222
Reserved contingency Fund
Closure Costs:-
Redundancy and notice 17,310 9,040
Building Disposal 15,000 15,000
Grant/fee reimbursement 10,594 8,717
3 months running costs 4,504 5,909
58,686 49,286
Unreserved 16,893 3,226
75,579 52,511
----- End of picture text -----
Rainbow Early Years
TREASURERS REPORT 2024
the Financial Year Ending 31[st] August 2024
The accounts, for the year ending 31[st] August 2024 have been produced for presentation to the Trustees of the pre-school and the final copies of the Balance Sheet and Income and Expenditure report are attached at the end of this report.
The Income and Expenditure Account shows the operating income and expenditure for the year. During the financial year the group has
| Received income of | £141,388 |
|---|---|
| From which there has been expenditure of | £118,320 |
| Resulting in a surplus of | £ 23,068 |
By comparison with the previous financial year, where there was a deficit of £27,574 this shows a difference in operating profits of over plus £50,642. A significant increase in uptake of sessions and less need to spend on equipment in this financial year, due to a high spend in the previous year, has helped to achieve this difference, along with a grant of £1,800 from St. James Trust and a massive fundraising effort by both the staff and trustees resulting in a surplus in fundraising income over spend of £2,957.
The Balance Sheet As at 31[st] August 2024 shows the book balance of monies held by the PreSchool as follows:-
| Lloyds Bank Treasurers Current Account | £ 6,510 |
|---|---|
| Lloyds Deposit Account | £67,306 |
| Operating cash income held in petty cash | £ 80 |
| Manager’s Large Purchases Account | £ 2501 |
| Giving total cash assets of | £74,146 |
| The Pre-school has outstanding debtors to the value of | £ 5,8712 |
| Therefore the total current assets are | £84,455 |
| However, there are current liabilities amounting to | £ 4,438 |
| Resulting in net assets of | £75,579 |
Continued
1The Manager’s large purchase account has been set up to record the withdrawal of petty cash funds in August 2023 by the then manager of the setting (this is not the current manager) to purchase equipment on behalf of the pre-school. The items purchased or a reimbursement of the amount held are still awaited.
2 The debtors figure is made up of £137 outstanding fees and £5,734 to be reimbursed from HMRC for PAYE refund due to SMP. HMRC have been contacted for repayment.
Accumulated fund
It should be noted that of the accumulated fund figure contains amounts are required to be held in the event of closure. These amounts are for
| Redundancy and notice contingency | £ 17,310 |
|---|---|
| Building disposal and making good the land | £ 15,000 |
| Grant/fee reimbursement | £ 10,594 |
| 3 months funning costs | £ 4,504 |
| Ringfenced amounts: | |
| Fundraising | £ 5,179 |
| Grants and Donations (lottery grant) | £ 6,099 |
| Giving a total reserved amount of | £ 58,686 |
| Leaving a general unreserved fund to carry forward of | £ 16,893** |
| Resulting in a total accumulated fund to carry forward of | £ 75,579 |
** Note that there is a commitment of expenditure for the next 4 years to Citation Limited for Health and Safety and HR support, put in place prior to the current management structure of the pre-school, of a minimum of £3412 (charged for March 2024 to February 2025) increasing by the greater of RPI (4.81% at the time of reporting) or 3%. At a minimum the setting is looking at the following minimum amounts committed per year
| 2024-2025 | £ | 3412 |
|---|---|---|
| 2025-2026 | £ | 3515 |
| 2026-2027 | £ | 3620 |
| 2027-2028 | £ | 3729 |
These amounts are budged for within annual expenditure.
Continued
Rainbow Early Years Pre-school Income and Expenditure Account
Charity Registration Number 1016250
For the year ended 31 August 2024
| Receipts Fees WC Grant Funding Milk Grant EYPP ISF Income DAF Income Free School Meals Income Uniform/Clothing Income Sundry Training Trips Interest Received Fundraising Income Grants and Donations Rounding adjustment TOTAL RECEIPTS Payments Uniform/Clothing Spend DBS Checks Milk Spend Consumables Food Consumables Staff refreshments Licences Cleaning Memberships and Subscriptions Repairs and Renewals adjustment rom prev fy Snack Costs Electricity Water Rates Rates Office Costs Web Hosting Equipment Internet & Telephone Printing Advertising and Promotion Leasing Payments Accountancy Fees Bank/Finance Charges Insurance Health and Safety Human Resources Refuse costs Motor Expenses Grants and Donations Spend adjustment rom prev fy Free School Meals Spend ISF spend EYPP spend DAF spend Fundraising spend Staffing Staff Salaries Employers NI Pension Employers Staff Training Staff Uniform and Clothing Bad Debts Written Off Rounding adjustments TOTAL PAYMENTS SURPLUS INCOME OVER EXPENDITURE Running Costs Other income Fundraising Childcare income |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 20,560 106,566 0 1827 5400 828 135,181 0 230 0 0 0 474 704 3703 1800 5,503 141,388 141,388 157 168 0 3863 36 7 376 0 414 1909 -32 0 3496 477 863 0 204 2000 655 3 58 200 3304 202 841 1644 1802 532 91 -1415 113 0 7168 1827 828 746 32537 83,252 0 1,454 922 71 85,699 118,236 83 1 118,320 23,068 2023-2024 |
£ £ £ 14,511 90,092 90 2420 1800 0 0 108,913 2570 121 0 0 0 191 2882 424 500 924 112,719 112,719 32 195 38 6442 783 65 153 0 909 2590 0 3389 451 587 127 146 5794 571 16 58 0 3271 88 1862 3339 1534 504 476 3860 2570 32 2420 0 380 42682 94,968 0 1489 1046 103 97,606 140,288 5 140,293 -27,574 2022-2023 |
|
|---|---|---|---|---|---|
| 23,068 |
Rainbow Early Years Pre-school Balance Sheet
Charity Registration Number 1016250 As at 31 August 2024
----- Start of picture text -----
2023-2024 2022-2023
£ £ £ £
Current Assets
Bank Lloyds Current Account 6,510 16,810
Lloyds Deposit Account 67,306 36,831
Manager's Large Purchases Account 250 0
Petty Cash held 80 -275
74,146 53,366
Debtors 5,871 2,576
Less Creditors
other creditors 4,438 3,431
1,433.00 -855.00
Net assets 75,579 52,511
Total Funds Accumulated Reserves bf 52,511 80,085
Net profit/(loss) 23,068 -27,574
Year end adjustment 0 0
Total funds 75,579 52,511
Held as Ringfenced Reserved Funds
ISF 0 1,768
EYPP 0 0
DAF 0 0
Grants and Donations 6,630
Lottery 4,299
St James Trust 1,800
Fundraising 5,179 2,222
Reserved contingency Fund
Closure Costs:-
Redundancy and notice 17,310 9,040
Building Disposal 15,000 15,000
Grant/fee reimbursement 10,594 8,717
3 months running costs 4,504 5,909
58,686 49,286
Unreserved 16,893 3,226
75,579 52,511
----- End of picture text -----
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members of Rainbow Early Years Pre-school On accounts for the year ended 313t August 2024 Charity no (If any) 1016250 Set out on pages I report to the trustees on my examination of the accounts of the above charity ('the Trust.) for the year ended 3110812024. Respon81bilities and basis of report As the chaiity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (°the Act.). I report in respect of my examination of the Trusvs accounts carried out under section 145 of the 2011 Act and in carying out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Indep8ndent I have completed my examination. I confirm that no material matters have examinerfs Statement come to my attention in connection wrth the examination (other than that disclosed below ') which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with 8ection 130 of the Charrties Act. or the accounts did not accord with the accounting records,. or the accounts did not comply with the applicable requirements conceming the fomi and content of accounts set out in the Charities (Account8 and Reports) Regulations 2008 other than any requirement that the accounts give a ttrue and fair, view which is not a matter considered as part of an independent examination. I have no conGems and 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. P18ase d818te th8 words in the brackets rf they do not apply. Slgned: Date: Name: P Tumer Relevant professional qualification(s) or body (if any): Address: 1 Stonelea Hilperton Wiltshire IER Oct 2018
Section B Disclosure Only complete if the examiner needs to highlight material matters of conrn (see CC32, Independent examination of charity accounts: directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018