Stepping Stones Pre School Clipston
Year Ended 31 July 2023
Treasurer's Report and Financial Statements
STEPPING STONES PRE SCHOOL CLIPSTON LEGAL AND ADMINISTRATIVE FRAMEWORK
REGISTERED CHARITY NUMBER 1023443
DATE OF REGISTRATION
12 July 1993
TRUSTEES
Louise Gowling
Rosie O'Connor Hannah Osborne Katelyn Williams Emma Davies
GOVERNING DOCUMENT AND CHARITABLE OBJECTIVES
The charity acts in accordance with its constitution date 29 October 2014.
The objects of the charity are to enhance the development and education of children primarily under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups and by:
Offering appropriate play, educations and care facilities, family learning and extend hours groups together with the rights of parents to take responsibility for and to become involved in the activities of such groups, enduring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability.
Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas.
instigating and adhering to and furthering the aims and objectives of the pre-school learning alliance.
MAIN ACTIVITY
The charity provides pre-school education to children.
PUBLIC BENEFIT
The charity notes that it has a responsibility under the Charity Regulations which govern it to ensure that the public benefit from the activities of the charity.
Stepping Stones Pre School Clipston ensures that it meets these requirements but ensuring that applications for places at the school are made available to all families in the local community.
CONTACT NAME AND ADDRESS
Stepping Stones Pre School Clipston High Street
Clipston
Market Harborough LE16 9RU
Stepping Stones Pre School Clipston Financial Statements for the year ended 31 July 2023
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TREASURERS REPORT FOR THE YEAR ENDED 31 JULY 2023
Stepping Stones Pre School has had a very busy year, children numbers have been higher than seen for several years and record income. The setting made a surplus for the year of £1,150 (FY2022:£1,574 loss).
The setting has continued to benefit significantly this year from the steps taken in the previous years to maximise income for the setting and proactively manage the cost base to ensure that the staffing levels are appropriate and sustainable for the number of children attending the setting and the cost base challenged and discretionary spend minimised.
The following specific receipts and payments are of note:
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Fee and funding income in total for the year was £90,455, £20,018 higher than in the previous year (FY2022:£70,437)
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Fundraising and donations generated £8,899 (FY2022:£3,835), a successful Christmas raffle and fundraising at the clipston festival in the financial period has helped with keeping the fundraising similar over the last two years. Donations have increased significantly due to the generosity of our parents.
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We received a grant from Market Harborough Building Society Charitable Foundation of £1,320 for the Mud Kitchen purchased during the year (FY2022:£NIL).
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Staff costs have increased compared to the prior year at £79,520 (FY2022:£62,428). The increased session numbers resulted in increased staffing requirements for the setting increasing the staff costs. There was a significant increase in minimum wage from April 2023, we elected to give the staff a payrise to show our appreciation of their continued support. - Staff training costs were £2,517 (FY2022:£1,261) which is considerably higher than previous years reflecting mandatory training requirements for the new team members and existing team and additional ad hoc training as required.
The cash balance at 31 July 2023 was £64,675.26 (FY2022:£63,448.98). This is approximately £24,500 higher than the cash we are required to hold under our Reserves Policy.
The petty cash balance at 31 July 2023 was £42.00(FY2022:£118.60).
The forecast for next year anticipates a significantly lower number of children attending the setting to the current year. To ensure the ongoing financial viability of Stepping Stones, the challenge remains to optimise attendance levels at the setting, proactively manage staff and overhead costs and maximise the opportunities for fundraising. The Primary School where we are based have applied to the Council for Prechoolers to attend their setting, this will impact Stepping Stones future if it goes ahead, we will be assessing the ongoing situation at each stage of the process and how it will effect Stepping Stones future, the uncertainty of the situation is already affecting business and children numbers.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF STEPPING STONES PRE-SCHOOL CLIPSTON
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| report to the trustees on my examination of the accounts of Stepping Stones Pre-School Clipston for the year ended 31 July 2023.
Responsibilities and basis of the report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requiremenst of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable directions given by the Charity Comminssion under section 145(5)(b) of the act.
Independent examiner's statement
| have completed my examination. | 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:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records.
| have no concerns and have come across no other matters in connection with the examintaion to which attention should be drawn in this report in order to enable a proper understaning of the accounts to be reached.
Carolyn Bland
3 Chestnut Grove Clipston Market Harborough Leics LE16 9RH
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Stepping Stones Pre School Clipston Financial Statements for the year ended 31 July 2023
| RECEIPTSAND PAYMENTS FORTHE YEAR ENDED 31 JULY2023 | 2023 | 2023 | ||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | £ | £ | £ | £ |
| RECEIPTS | ||||
| Unrestricted Funds | ||||
| Fees and funding: | ||||
| Northants County Council | 62,261 | 44,383 | ||
| Fees re unfunded children | 28,194 | 26,054 | ||
| 90,455 | 70,437 | |||
| Fundraising | 3,264 | 3,370 | ||
| Donations, matched givingand gift aid | 5,363 | 465 | ||
| Other income | 272 | - | ||
| 8,899 | 3,835 | |||
| TOTALUNRESTRICTED RECEIPTS | 99,354 | 74,272 | ||
| Restricted Funds | ||||
| Grants received | 1,320 | - | ||
| TOTAL RESTRICTED RECEIPTS | 1,320 | - | ||
| TOTALRECEIPTSFOR THEYEAR | 100,674 | 74,272 | ||
| PAYMENTS | ||||
| Unrectricted Funds | ||||
| Wages, bonuses and national insurance | 79,520 | 62,428 | ||
| Stafftraining and coursefees | 2,917 | 1,261 | ||
| Telephone | 785 | 736 | ||
| Rent | 1,730 | 1,730 | ||
| Fees, subscriptions and memberships | 848 | 736 | ||
| Insurance | 624 | 560 | ||
| Resources and equipment | 4,619 | 2,870 | ||
| Printing, postage and stationery | 488 | 386 | ||
| Marketingand advertising | 1,117 | 636 | ||
| Accountancy fees - payroll | 552 | 514 | ||
| Furniture, housekeepingand maintenance | 3,951 | 2,304 | ||
| Snacks | 824 | 772 | ||
| Miscellaneous purchases | 629 | 913 | ||
| TOTALUNRESTRICTEDPAYMENTS | 98,204 | 75,846 | ||
| Restricted funds | ||||
| Outdoor equipment/covid grant | 1,320 | - | ||
| TOTAL RESTRICTED PAYMENTS | 1,320 | - | ||
| TOTALPAYMENTS FORTHEYEAR | 99,524 | 75,846 | ||
| EXCESSOFRECEIPTSOVERPAYMENTSFORTHEYEAR | 1,150 | (1,574) | ||
| Funding Split: | ||||
| Unrectricted Funds | 1,150 | (1,574) | ||
| Restricted funds | - | - | ||
| 1,150 | (1,574) |
Stepping Stones Pre School Clipston Financial Statements for the year ended 31 July 2023
| STATEMENTOFASSESTSAND LIABILITIESAT31 JULY2023 | 2023 | |||
|---|---|---|---|---|
| 2023 | 2022 | |||
| Note | £ | £ | £ | £ |
| CASH FUNDS | ||||
| Bank current account | 24,675 | 63,449 | ||
| High Interest account | 40,000 | |||
| Petty cash | 42 | 118 | ||
| 64,717 | 63,567 | |||
| DISTRIBUTION BETWEEN FUNDS | ||||
| Unrestricted Funds | ||||
| Opening balance | 63,065 | 64,639 | ||
| Excess receipts over payments forthe year | 1,150 | (1,574) | ||
| Transfer from restricted funds | ||||
| Closing balance | 64,215 | 63,065 | ||
| Restricted funds | ||||
| Opening balance | 502 | 502 | ||
| Excess receipts overpayments forthe year | - | - | ||
| Transferto unrestricted funds | ||||
| Closing balance | 502 | 502 | ||
| 64,717 | 63,567 |