**Rackerhayes Pre-School** ## **' Treasurer s Report 2023 – 2024** ## **This years accounts are run from 1st September 2023 - 31st August 2024** ## **Income** The total income for the year was £144,220.80 of which £13746.38 were paid school fees & lunch club fees. This income figure also includes the funding received from Kingsteignton Town Council. We used this to make repairs and upgrades, replacing the broken shed and installing a new outdoor play area. We received £128,310.15 in funding from DCC Early Years and £7827.50 from vouchers. The preschool also received a grant from Kingsteignton Town Council for £1425.00. The remaining income was generated through fundraising, socials, registrations fees etc. The amount raised from fundraising and Social Events was £656.55 ## **Expenditure** The total expenditure for the year was £133,246.51. We spent £104675.44 on employment costs, £599.70 on staff training and £4894.00 on renting the premises. The rest of the expenditure is broken down on the End of Year sheet - Staff wages have increased this year, this in turn increases the Pensions, Tax and National Insurance. We have also spent £861.05 on replacing and renewing toys and equipment and on the outdoor play area. These figures also include a monthly SO transferring £100 into a contingency fund, we use this account to cover expenses / wages during quieter periods. In December 22 we transferred £5000.00 from the contingency fund into the current account to cover wage expenses. This amount was transferred back to the contingency fund in July 24 from the main current account. ## **Petty Cash** The Petty Cash Held at the end of the year is £57.70, the income from fee’s and expenditure split between snacks, printing photos and activity items. _The accounts are currently with an independent examiner_ Rackerhayes Pre-school ||Rackerhayes Pre-school|| |---|---|---| |**1st Sept 2022 - 31st Aug 2023**||**1st Sept 2023 - 31st Aug 2024**| ||**INCOME**|| |**_15551.64_**|Fees|5918.88| |**_5114.50_**|Vouchers|7827.50| |**_86231.89_**|Funding|129735.15| |**_196.14_**|Fund Raising|114.09| |**_30.00_**|Registration Fees|0.00| |**_832.27_**|£ in from Socials|542.46| |**_00.00_**|£ in from Trips|00.00| |**_96.00_**|New Uniform|44.00| |**_6.00_**|Used Uniform|1.00| |**_00.00_**|Scholastic|00.00| |**_00.00_**|Tempest|00.00| |**_16242.55_**|Misc Income*|37.72| |**_£124,300.99_**||**£144,220.80**| |||| ||**EXPENDITURE**|| |**_87647.97_**|Wages|97759.14| |**_2526.79_**|Pension|3041.49| |**_2776.36_**|TAX & NI|3874.81| |**_4820.00_**|Rent|4894.00| |**_191.26_**|Stationary|576.84| |**_4059.95_**|Misc|4369.49| |**_0.00_**|Trips|00.00| |**_165.00_**|Socials|175.00| |**_1362.51_**|Photos & Children’s Presents|1547.03| |**_7776.44_**|Repairs|7121.97| |**_794.63_**|Toys & Equipment|861.05| |**_747.29_**|Payroll|739.78| |**_57.39_**|Outdoor Play Area
(Inc outdoor classroom)|0.00| |**_257.20_**|Staff Training|599.70| |**_743.18_**|Insurance|1085.62| |**_35.00_**|Ofsted|35.00| |**_404.22_**|Phone / Internet|331.99| |**_154.73_**|Computer Consumables|0.00| |**_17.99_**|Website|0.00| |**_1200.00_**|Transfer to Contingency*|6200.00| |**_115.20_**|Advertising|0.00| |**_0.00_**|Bank Charges|33.60| |||| |**_£115853.10_**||**£133,246.51**| Year 2023 / 2024 *£5000.00 transferred from Main A/C back to Contingency from 22/23 ## **Misc items** Sundries - Paper towels, Paper Cups, gloves, tissues, cleaning equipment etc Uniform Postage Data Protection Fee Chocolate for fundraising event Snacks for preschool Additional sanitising equipment / Covid PPE- Aprons etc ## **Petty Cash 2023 – 2024** **Opening Balance £84.01** Expenditure £26.31 **Closing Balance £57.70** **Broken Down as:** **Expenditure** Photos - £7.78 Snacks - £10.74 Activity resources - £7.79 CONFIDENTIAL Christopher Marle ACCA Chartered Cer2fied Accountant 28 Broadway Avenue, Kingsteignton, Devon, TQ12 3EW 07786 884 585 chrismarle@virginmedia.com 15th May 2025 Rackerhayes Pre-School St. Michael’s Church Hall Chudleigh Road Kingsteignton Devon, TQ12 3EW **- To the Trustees of Rackerhayes Pre School, (the Trust). Registered Charity No.1017322** **Independent Examiners Report of Accounts for the year to 31[st] August 2024** ## **IntroducJon** The following report is a summary of my independent review of the accoun2ng records and Treasurer’s Report to the Trust for the year ended 31[st] August 2024. The Trust is eligible to opt for this independent review in lieu of a full audit due to its gross revenue being below the Charity Commission threshold. I can confirm that I am a Chartered Cer2fied Accountant of good standing and am conduc2ng this examina2on in line with the ACCA’s guidance for honorary work for Chari2es. I have no close personal rela2onship with any of the Trustees and am not involved with the management or day to day running of the charity. My examina2on has been conducted following the Charity Commission’s direc2ons and in line with the Guidance for Examiners (CC32). ## **Report** I have reviewed the accoun2ng records maintained by the Trust and can confirm that the records provided were sufficient to verify the years transac2ons with any missing paperwork available to view on request. I have been able to follow the transac2on process of all income and expenditure that I selected for tes2ng and can verify that the transac2ons observed in the cash accoun2ng records are consistent with the electronic cash book and do not vary in any material way. The Treasurers Report accurately describes the financial posi2on of the Trust with account balances reconciling to bank statements. Having discussed the increasing value of addi2onal employers costs such as Na2onal Insurance and Pensions, we have decided to update the Wages cost referred to in the report to Employment Costs so as to include these now more material values. ## **Conclusion** Discussions on review with the management show that the Trust is in control of their cost base despite the challenges of rising employment costs as well as general infla2onary pressures. The Trust has sufficient funds, including a Con2ngency fund which has had the draw-downs used for last years renova2ons repaid and con2nues to be topped up on a regular basis. In conclusion, I can verify that the interests of the Trust are being suitably governed and I have not observed any issues to cause concern regarding the financial posi2on of the Trust. Yours sincerely, Christopher Marle ACCA