Stepping Stones Pre-school Play & Learn
Report for Annual General Meeting for the 2021 Financial year
Overall
These accounts cover the 12 month period of 1st January 2021 to 31st December 2021.
Over the year our accounts are showing a profit overall of -£2487.17 Considering we battled a world wide pandemic that continues to reek havoc amongst settings and even our own staffing occasionally we have finished the year in an extremely strong position and with good inten t and planning that secured more money towards the reserves policy fund and therefore ensuring a stronger forseeable future, and the plan to half the National Livin g wage big increase between October 2021 and the rest in April 2022 was favourable to staff and committee.
We continue to evaluate the setting in order to be financially economical while still providing excellent childcare. This ye ar saw us remaining at the Village Hall, we employed a new staff member and a relief staff member ths year, but then we needed to replace the new member of staff by the end of the year, once more another staff member was found ready to start in 2022. We also welcomed a few new faces onto the committee. Fundraising continued t o be held in the Setting / online and no events were held/organised whilst Covid restrictions were still in place.
Stepping Stones representative R Dodd continuesly attended the Village Hall committee meetings in order to maintain good rel ationships and communication. This is working well and relationships are in good spirits.
| Income and Expenditure: Item Fees Funded Placements Toddlers Donations & grants Fundraising Uniform orders Playscheme Miscellaneous Interest / Transfers into deposit Furlough payments |
Amount 21,830.18 45,157.84 75.00 100.00 454.27 0.00 3,676.00 583.37 41.52 7,317.22 79,193.88 |
Item Wages Rent Refreshments Equipment/toys Fundraising Uniform orders Playscheme Cleaning and sundries Craft and sundries Printing,postage and stationary Admin & Consumables Miscellaneous Covid 19 fees refund Staff Training Interest payable Grants |
Amount 68,585.69 8,017.75 676.70 628.45 0.00 316.26 0.00 376.18 453.37 195.62 1,779.66 71.50 460.50 160.89 -41.52 0.00 81,681.05 -£2,487.17 |
|---|---|---|---|
| TOTAL | TOTAL |
Operating
At the end of 2020 although we made a loss of -£2487.17, as per the guidelines set out by the Pre School Learning Alliance we are continueing to make sure we have 3-6 months operating costs, plus money for redundancy packages. This is all set out in our Reserves Policy - in which our savings account is used / allocated for. We have done well so far but we do not have those specific funds yet, these have also been updated wi th the living wage increase.
NOTE: March 2020 saw the impact of the Covid 19 pandemic hitting the UK. Pebbles and fundraising could not and did not happen and the pre school closed for a period of time. We were able to reopen as key workers, as we provided an essential service. We had to furlough staff, and we adherred to the governments scheme and claimed 80% and then decreased it, but we topped the remaining 20% and increase as needed so staff remained with a 100% wage.
We continue to make sure we can add to the reserves policy fund on an annual basis.
The chair and myself as Treasurer had continuous meetings and money talks to ensure the continuing future of the pre school. We moved the accounts to an online software service called Quickbooks. This is to enable access (at different levels) for both the manager and chairp erson to see payments made (for fees) and the Chairman can run reports himself and search for information on here or the bank account.
The NLW (National Living Wage) was successfully implemented.
The bank account signatories was finally cleaned up - and the unknown people removed and just the current committee members listed. I ensured the current Chairperson to know the access details for the online Bank account so that it wasn't all on one person.
We are continuelly reviewing and we are always ensuring a financial budget is drawn up for the year ahead and for any events so all costs are covered
Forward View
In summary this year has been another very challenging one. Online social presence still deems popular with all parents in t he setting. Both continue to be a useful tool in marketing and relaying information on to the parents. Our setting's strong reputation within the immediat e community and surrounding Judith Williamsonvillages and word of mouth still maintains.
Treasurer
Another increase in wages in April 2021 will need to be looked at and budgeted for, in order for us to comply with the living wage requirement. This will mean increasing the fees in April 2021 to cover the cost, we should also as a business review the sibling rate and whether its financially viable in todays market. Due to Covid19 we will also need to reevaulate Pebbles against opening as a preschool for five days - is it a better business decision to be a full time pre school and pebbles close down.
The pension scheme is going well.
2021 will be the year that Stepping Stones will have another look at adding some new staff members onto the rota, so we have relief cover and staff to call on when its gets busier.
We promote the option for staff to opt in and opt out of the pension scheme. We also will have potential costs in recruitment costs - new DBS fees and training costs. Extra costs in the new committee members .
Looking forward to 2021 we are still looking at making sure that we not only adhere to the guidelines of the PLA in keeping a reserve in the deposit but actively try to look at cost saving in order to increase monies in the deposit account . This is in line with our reserves policy. This is an ongoing process for the next couple of years at least.
We will look forward to reconnecting our strong relationships and ties within our community and the Village Hall, via Alrewas events we can partake in and being part of the team around the children themselves. Always aware of being Covid safe.
Stepping Stones Pre School Play & Learn
Profit and Loss
January - December 2020
| TOTAL | |
|---|---|
| Income | |
| Charitable activites | 168.81 |
| Bags 2 School | 49.60 |
| Christmas Baubles | 140.86 |
| Christmas Concert | 70.00 |
| Various Fundraising Activities | 25.00 |
| Total Charitable activites | 454.27 |
| Donations and legacies | 100.00 |
| Pebbles | 75.00 |
| Services | 583.37 |
| Fees (non funded) | 18,508.68 |
| Voucher Schemes | 3,321.50 |
| Total Fees (non funded) | 21,830.18 |
| Funded Placements from Staffs County Council | 45,157.84 |
| Furlough Payment | 7,317.22 |
| Total Services | 74,888.61 |
| Total Income | £75,517.88 |
| GROSS PROFIT | £75,517.88 |
| Expenses | |
| Childrens Uniform items | 316.26 |
| Cleaning and Sundries | 376.18 |
| Craft and Sundries | 453.37 |
| Donation to Food Bank | 30.00 |
| Insurances | 846.29 |
| Interest Payable | -41.52 |
| Office/General Administrative Expenses | 933.37 |
| Payroll | 63,946.11 |
| PAYE costs | 2,694.81 |
| Payroll Expenses | 1,944.77 |
| Total Payroll | 68,585.69 |
| Printing, Postage and Stationery | 195.62 |
| Refreshment Expenses | 676.70 |
| Refund Fees Covid 19 | 460.50 |
| Rent or Lease of Buildings | 8,017.75 |
| Uncategorised Expense | 41.50 |
| Total Expenses | £80,891.71 |
| NET OPERATING INCOME | £ -5,373.83 |
| Other Income | |
| Income PLAYSCHEME FEES | 3,676.00 |
| Total Other Income | £3,676.00 |
| Other Expenses | |
| Equipment / New toys | 628.45 |
| Staff Training / courses / Uniform | 160.89 |
| Total Other Expenses | £789.34 |
| NET OTHER INCOME | £2,886.66 |
| NET INCOME | £ -2,487.17 |
Accrual Basis Tuesday, 12 October 2021 03:02 pm GMT+01:00
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Stepping Stones Pre-school Play & Learn Alrewas Village Hall Wellfield Road Alrewas DE13 7HB Charity Number 1026412 Ofsted: 218625 PLA 33170
Accounts for the period 01/01/2020 to 31/12/2020
Receipts & Payments Account:
Income and Expenditure:
| Income and Expenditure: | ||||||
|---|---|---|---|---|---|---|
| Receipts | Payments | |||||
| Item | Amount | Item | Amount | |||
| Fees Funded Placements |
21,830.18 45,157.84 ~~LE~~ |
Wages | 68,585.69 ~~_~~ |
|||
| Toddlers | 75.00 | Rent | 8,017.75 | |||
| Donations & grants | 100.00 | Refreshments | 676.70 | |||
| Fundraising | 454.27 | Equipment/toys | 628.45 | |||
| Uniform orders | 0.00 | Fundraising | 0.00 | |||
| Playscheme | 3,676.00 | Uniform orders | 316.26 | |||
| Miscellaneous | 583.37 | Playscheme | 0.00 | |||
| Interest / Transfers into deposit | 41.52 | Cleaning and sundries | 376.18 | |||
| Craft and sundries | 453.37 | |||||
| Printing,postage and | ||||||
| stationary | 195.62 | |||||
| Furlough payments | 7,317.22 | Admin & Consumables | 1,779.66 | |||
| Miscellaneous | 71.50 | |||||
| Covid 19 fees refund | 460.50 | |||||
| Staff Training | 160.89 | |||||
| Interest payable | -41.52 | |||||
| Grants | 0.00 | |||||
| TOTAL | 79,193.88 | TOTAL | 81,681.05 | |||
| Profit for the year | ||||||
| -2,487.17 | ||||||
| Balance: | ||||||
| Opening Balance | 20,817.98 | |||||
| Closing Balance | 18,330.81 | |||||
| Statement of Assets & Liabilities at Financial Year End: | Statement of Assets & Liabilities at Financial Year End: | |||||
| Current Account | £ | 6,121 £ |
| Deposit Account 12,210 £ Total Cash Balance 18,331 £ Accounts prepared by J Williamson Treasurer Date 25/04/2022 Independent examination carried out by Sharon Keane Sharon Keane Date 25/04/2022 Judith Williamson Original documentation has been seen, audited and signed |
J Williamson Sharon Keane |
25/04/2022 |
|---|---|---|
| 25/04/2022 |