_**5.**_ **Treasurer’s Report and presentation of 2019–2020 accounts** _See Appendix 1: Accounts 2019–2020._ ## **Annual Accounts** Copies of the draft annual accounts for the year 01/09/2019 – 31/08/2020 are available for you all to look at, please email Jo for a copy. These accounts will be reviewed by an independent examiner and may be subject to some minor adjustments. The accounts show that through the year we had an income of £189,054 and spent £164,072 which means we had a surplus of £24,982 this year. This represents an increase of £5,396 on last year, we are very pleased with the success of this year especially considering everything that has happened in the last six months. The Manager and Chair will have discussions regarding this surplus, a significant investment in the pre-school building is required which will be prioritised. ## **Building Fund and Reserves Policy** At the end of the year, we had £149,551 in the current account which is partly fees paid in advance for this year (£30,089) and the rest is the surplus made in this year and previous ones. In line with the requirements of the Charity Commission, we must be clear about why we have additional money in the bank. Our reserves policy states that we aim to keep between 3 and 6 months operating costs as an operational float to protect the Preschool against any unforeseen problems (e.g. urgent repairs or late payment of fees by the Council.) At the end of the accounting period, these reserves stood at £27,189. Fortunately the Government continued to pay us the Grant Fees as normal while the pre-school was closed earlier in the year, which when combined with the furlough scheme meant we did not have to dip into this fund, we may not be so fortunate next time so the fund will likely need to increase for next year. We have designated a specific Building fund which currently stands at £20,057. The aim of this money is to fund major projects to update our provision and to save towards a replacement for the current Pre-school building when necessary. We currently have a potential issue with damp and condensation in the bathrooms so it is likely any major repairs will be paid for from this fund, the committee and management will discuss. ## **Fundraising** We had several fundraising events earlier in the year which brought our total fundraising surplus this year to £1,179. Unfortunately this is a significant drop on the £5,826 generated last year however given the main summer fete and Easter party both had to be cancelled this is not a surprise, the events team have done a brilliant job with finding alternatives so this will be a major area of focus in the coming year, any ideas or suggestions will be most welcome. Donations received from parents increased slightly to £136 from £120 last year, given how tough the economic situation has been in 2020 we really do appreciate every penny. We do our best to ensure that fundraising money is spent directly on equipment / resources / training to benefit the children rather than being consumed on overheads. ## **Budget** Once the accounts for last year have been completed an itemised budget for the coming year will be drawn up by the Manager and discussed with the Committee. As previously mentioned this year it is important that we make sure the building is well maintained as it is 20 years old now and things do need replacing. We are also keen to ensure we are continuing to support children’s mental and physical wellbeing and we will review our training, resources and environment to ensure outstanding quality for the children and their parents, many of whom may be struggling due to extra pressures caused by the pandemic and subsequent lockdown. In addition we will look at investing in SEN training for staff and upgrade our nursery management online package First Steps to include online learning journal and record keeping options, also some of the safety surfacing in the playground may need to be replaced if necessary. ## **Funding and** ## **Fees** The current base rate for 3 & 4 year olds is set at £4.39 per hour for this tax year, eligible funded 2 year olds have a base rate of £5.54 which is provided by the Government. We are pleased to be able to support working parents and offer the 30 hours of funding as well as the universal 15 hours for all other funded children. Our fees have increased slightly this year to £5.95 per hour for our two-year-olds and older children who attend more than their funded hours, this was not a decision that was taken lightly however it was necessary due to the increases in national minimum wage, Employer’s NI contributions and workplace pension provision. Whilst the preschool is in a relatively healthy position financially the reserves are limited, any fundraising ideas are welcome as we need to maximise our income to ensure we maintain the preschool as a great place for your children to grow and develop. ## **Does anyone have any questions about the accounts?** ## South Hill Park Pre-School ## Income and Expenditure for the period ended 31st August 2019 |Income
Fees
Bad debts
Grant Fees (Bracknell Forest Council)
Grant Fees (Milk Reclaim)
Fundraising activities (see note 1)
Donations
Registration fees deposits
Bank interest received
Expenditure
Wages, Salaries
Employers NI
Pension Costs
Toys, books and equipment
Weekly Activites
Council Funded Projects
Other Expenses (see note 2)
Surplus for the year
Retained Surplus brought forward
Represented by
Fees due at year end
Cash at Bank Current Account
Cash at Bank 'Building Fund'
Cash at Bank 'Operating Reserve'
Cash in Hand
PAYE / NI / Pensions Liability
Fees paid in advance for next year
Creditors|Year Ended
31.08.19
42,147
139,541
218
181,906
5,826
120
525
24
188,400
133,959
3,784
2,301
6,513
600
0
21,658
168,814
19,586
119,407
138,993
0
126,668
20,047
27,176
65
(1,299)
(33,205)
(458)
138,993
0.00|Year Ended
31.08.18
28,194
145,294
136| |---|---|---| |||173,624
3,769
2,210
650
24| |||180,278
126,055
3,615
2,292
2,614
918
0
22,764| |||158,258| |||22,020
97,387| |||119,407| |||0
102,821
20,037
27,162
70
(1,588)
(28,134)
(961)| |||119,407| |||| Treasurer Dated: Page 1 ## South Hill Park Pre-School Income & Expenditure Accounts note 1 |Fundraising Activities
Sponsored Events
Photos / Videos
T-Shirts / Sweat Shirts
Fetes (Including Raffles)
Other Fundraising|31.08.19
31.08.18
Income
Expenses
Surplus
Surplus
0
0
0
0
96
0
96
225
209
0
209
95
3,851
(1,050)
2,801
2,309
3,706
(986)
2,720
1,140| |---|---| ||7,862
(2,036)
5,826
3,769| Page 2 ## South Hill Park Pre-School ## Income & Expenditure Accounts note 2 |South Hill Park Pre-School
Income & Expenditure Accounts note 2|| |---|---| |Other Expenses
Milk
Healthy Snacks
Staff Training
Staff Purchases (Gifts)
Thank You Gifts
Insurance
Subscriptions
Water
Electricity
Telephone
Printing, Postage & Stationery
Staff Advertising
Staff Uniforms
Cleaning Materials & Waste Disposal
Premises Expenses
General Expenses
First Aid
Bookkeeping & Payroll Fees
Software & Internet|31.08.19
31.08.18
Expenses
Subsidy
Net
Net
Income
Expenses
Expenses
260
0
260
210
645
0
645
693
1,615
0
1,615
865
185
0
185
145
0
0
0
0
1,126
0
1,126
1,166
85
0
85
0
269
0
269
88
2,770
0
2,770
2,681
1,135
0
1,135
963
1,529
0
1,529
1,027
97
0
97
105
99
0
99
171
3,010
0
3,010
3,931
5,760
0
5,760
7,054
396
0
396
379
182
0
182
180
1,343
0
1,343
1,771
1,152
0
1,152
2,048| ||21,658
0
21,658
23,477| Page 3 ## SOUTH HILL PARK PRE-SCHOOL Independent Examiners Report to the Trustees of South Hill Park Pre-School I report on the accounts of the Trust for the year ended 31 August 2017 which are set out on pages 1 to 3. Respective responsibilities of trustees and examiners As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 43(7)(b) of the Act, whether particular matters have come to my attention. Basis of independent examiner's report The examination was carried out in accordance with the General Directions given by the Charities Commisioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. ## Independent examiner's statement In connection with my examination, no matter has come to my attention: 1. Which gives me reasonable cause to believe that in any material respect the requirements - to keep records in accordance with section 41 of the Act; and - to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or 2. to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Examined by : Address : Independent Examiner Dated : Page 4 CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report lo the trusteesl members of South Hill Park Pre-school On accounts for the year ended 31.08.20 Charity no (if any) 1023654 Set out on pages 1to2 I report to Ihe trustees on my examination of the accounts of Ihe above charity 1.the Trust") for the year ended 3110812020. Re8ponsibiltles and basis of report As the Charity'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 Trust's aeKounts carried out under section 145 of the 2011 Act and in carrying OLJI my examination, I have followed all Ihe applicable Directions given by Ihe Charity Commission under section 145{5)(bl of the Act. Independent I have completed my examination. I confimi that no material mallers have examlner'8 8tstement come to my attention in connection wilh the examination which gives me ¢ause to believe that in. any material respect.. the accounting records V￿re not kepl in accordance with section 130 of the Charities Act-, or the accounts did not accord with the accounting records.. or the accounts did not comply with the applicable requirements corscerning the fomi and contenl of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement thal the accounts give a 'true and fair. view which is not a matter considered as part of an independent examination. I have no concerns 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 ofthe accounts to be reached. Signed: Date: Name: Lisa Dansey Relevant professional qualifi¢ationls) or body (if any): ACA ICAEW- number 8786859 Address: 44 Matthews Chase Bracknell RG42 4UR IER Oct 2018 Section B Disclosure Only complete If the examiner needs to highlight material matters of concern (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