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 £16'400.15.
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 intent and planning that secured more money towards the reserves policy fund (£6k)and therefore ensuring a stronger foreseeable future, and the plan to half the National Living wage big increase between October 2021 and the rest in April 2022 was favourable to staff and committee. With the profit made it means the setting can weather the increases to wages / potentially the rent (in discussion for the next year) / rising food costs etc.
We continue to evaluate the setting in order to be financially economical while still providing excellent childcare. This year saw us remaining at the Village Hall, we employed a new staff member and a relief staff member this 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 to be held in the Setting / online and no events were held/organised whilst Covid restrictions were still in place.
Stepping Stones representative R Dodd continuously attended the Village Hall committee meetings in order to maintain good relationships and communication. This is working well and relationships are in good spirits.
| Income and Expenditure: Item Amount Fees 43,782.23 Funded Placements 53,103.77 Toddlers Donations & grants 100.00 Fundraising 2,650.46 Uniform orders 161.25 Playscheme 10,037.03 Miscellaneous Interest Payable Giftaid 219.60 Furlough payments TOTAL 110,054.34 |
Item Wages Rent Refreshments Equipment/toys Fundraising Uniform orders Playscheme Cleaning and sundries Craft and sundries Printing,postage and stationary Admin & Consumables Miscellaneous Debt Collection Services Staff -courses/uniform Interest payable Transfers into Deposit Account Christmasmealstaff/committee |
Amount 80,674.37 7,071.75 289.08 806.86 30.00 364.26 363.60 604.85 472.06 1,737.91 37.50 59.00 970.95 -1.35 6,000.00 173.05 93,653.89 £16,400.45 |
|---|---|---|
| TOTAL |
Operating
At the end of 2021 although we made a profit of £16'400.45, as per the guidelines set out by the Pre School Learning Alliance we are continuing 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. With this in mind we were able to transfer £6000 to the Reserves Policy / Deposit fund, which puts us back on track to get to our target as 2019 we didnt allocate any funds and 202 0 only £2K. We have done well so far but we do not have those specific funds yet and in fact are not even half way to covering the c osts of potential redundancies and running costs - these have also been updated to reflect the living wage increase. The total needed is approx £43K to cover staff redunancies an 3 months operating costs - we currently have at the end of 2021 £18'211.52.
NOTE: March 2020 saw the impact of the Covid 19 pandemic hitting the UK. Pebbles and fundraising were not able to take place - the pre school closed for a period of time. We were able to reopen as provide childcare for key workers and funded children, as an essential service.
We had to furlough staff, and we adhered 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.
In 2021 the decision was made to close Pebbles was taken by Staff and Committee this enabled us to offer a full working week for Stepping Stones. Sibling rate was cancelled.
We continue to make sure we can add to the reserves policy fund on an annual basis.
QuickBooks continues to be an easy accounting software to use.
A wage increase in line with the NLW (National Living Wage) was successfully implemented in October with a view to a second increase the following financial year in to match or be 10p above - this will be addressed in a committee meeting in 2022.
Gift aid online claims was finally completed and managed so it is now current to events that have been held. All claims have been Judith Williamsonpaid without any issues.
Treasurer
As we were unsucessful in recruiting new Treasurer to take over from myself, the decision was decided by committee that Rosem ary Dodd take over as interim Treasurer whilst a more permanent person is found in order to release me from the role.
Forward View
In summary this year has been another very challenging one. Our setting's strong reputation within the immediate community an d surrounding villages and word of mouth still maintains.
Another increase in wages in April 2022 has been budgeted for thanks to the positive financial situation the setting is in. P lus a budget for new staff uniform and new toys . equipment has been issued for the start of the new year. Fees will remain the same in the next financial year and instead the toy money amount and name will be reviewed so that not j ust the non funded parents have the increase.
The pension scheme is going well.
2022 will be the year that Stepping Stones will review recruiting some new staff members onto the rota, enabling us to have r elief cover when its gets busier and to cover sick leave.
We promote the option for staff to opt in and opt out of the pension scheme (four currently enrolled) We also will have pote ntial
We promote the option for staff to opt in and opt out of the pension scheme (four currently enrolled). We also will have pote ntial costs in recruitment costs - new DBS fees and training costs. Extra costs in any new committee members .
Looking forward to 2022 we are still looking at making sure that we not only adhere to the guidelines of the Early Years Alli ance 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. Once restrictions have been reduced or perhaps even completely lifted Stepping Stones are eager to restart our fundraising event program again.
Judith Williamson
Stepping Stones Pre School Play & Learn
Profit and Loss
January - December 2021
| TOTAL | |
|---|---|
| Income | |
| Charitable activites | 20.00 |
| Amazon Smile Fundraising | 58.04 |
| Bags 2 School | 465.00 |
| Cauliflower Cards | 92.80 |
| Christmas Baubles | 286.01 |
| Christmas Concert | 143.00 |
| Donation | 100.00 |
| Easter fundraising Activites | 19.00 |
| Easy fundraising scheme | 66.24 |
| Lichfield Lottery | 235.50 |
| Lichfield Round Table Santa Run | 150.00 |
| Photograph Fundraiser (commission/orders) | 148.15 |
| Sponsored Matchbox fill | 664.00 |
| Various Fundraising Activities | -105.00 |
| Virtual Balloon Race | 417.12 |
| Total Charitable activites | 2,759.86 |
| Giftaid | 219.60 |
| Services | |
| Fees (non funded) | 40,060.23 |
| Voucher Schemes | 831.00 |
| Total Fees (non funded) | 40,891.23 |
| Funded Placements from Staffs County Council | 53,103.77 |
| Voucher Schemes | 2,891.00 |
| Total Services | 96,886.00 |
| Uncategorised Income | -14.40 |
| uniform childrens | 161.25 |
| Total Income | £100,012.31 |
| GROSS PROFIT | £100,012.31 |
| Expenses | |
| Childrens Uniform items | 364.26 |
| Christmas Meal for Staff and Committee | 173.05 |
| Cleaning and Sundries | 363.60 |
| Craft and Sundries | 604.85 |
| Debt Collection Services | 59.00 |
| Fundraising | 30.00 |
| Insurances | 860.24 |
| Interest Payable | -1.35 |
| Leavers Books | 37.50 |
| Office/General Administrative Expenses | 877.67 |
| Payroll | 72,644.67 |
| PAYE costs | 5,503.11 |
| Payroll Expenses | 2,526.59 |
| Total Payroll | 80,674.37 |
Accrual Basis Thursday, 6 October 2022 12:07 pm GMT+01:00
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Stepping Stones Pre School Play & Learn
Profit and Loss
January - December 2021
| TOTAL | |
|---|---|
| Printing, Postage and Stationery | 472.06 |
| Refreshment Expenses | 289.08 |
| Rent or Lease of Buildings | 7,071.75 |
| Total Expenses | £91,876.08 |
| NET OPERATING INCOME | £8,136.23 |
| Other Income | |
| Charitable activiites | 5.00 |
| Income PLAYSCHEME FEES | 10,037.03 |
| Total Other Income | £10,042.03 |
| Other Expenses | |
| Equipment / New toys | 806.86 |
| Staff Training / courses / Uniform | 970.95 |
| Total Other Expenses | £1,777.81 |
| NET OTHER INCOME | £8,264.22 |
| NET INCOME | £16,400.45 |
Accrual Basis Thursday, 6 October 2022 12:07 pm GMT+01:00
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