Stepping Stoiies Pre-school Play and Learn Alrewas Villcige Hall, Wellfield Road Alrewas, D113 7HB Ofsted . 218625 Charity Number: 1026411 EYA: 33170 Receipts and Payment Account Income and Ex enditure Recei Pa ments Item Amount Item Amount Fees £30,191.76 £62,733.71 £1,920.00 £184.00 Payroll/Wages Rent Other professional services Refunds £89,050.88 £7,076.85 £1,613.97 £32.00 £423.90 £1,004.41 £321.72 £149.60 Funded Placements Holiday Club fees Incidentals Donations and Grants Fundraising Sale of Goods £1,540.00 £1,953.16 £127.60 Advertising Office/Stationary Cleaning costs Kids Uniform leavers gifts Insurance Services £73.46 £15.98 £931.59 Fundraising costs Refreshments Craft and Sundries £69.93 £868.68 £21.22 Staff Uniform Equipment/toys £102.00 £423.85 Transfer to Deposit A/C £1,000.00 TOTAL £98,723.69 TOTAL £103,106.58 Loss for the year -£4,382.89 Current account opening balance Closing balance £12,558.38 £8,175.79 Statement of Assets & Liabilities at Financial Year End Current Account £8,175.79 £22,230.23 £196.62 Deposit Account (without interest) Interest on Deposit Account Total Cash Balance £30,406.02 Accounts Prepared by Treasurer Independent Audit carried out by Rosemary Dodd Marcus Royle Date Slgned Date IS (iolLS
Stepping Stones Preschool, Wellfield Road, Alrewas, DE13 7HB treasurerssalrewas@yahoo.com seen>lng S Treasurers AGM Re ort 10 October 2024 For January - December 2023 accounts Income: For the year of 2023 we had an income of £98,723.69 Fees. including paying customers, funded places and holiday dub equaled £94,845.47 Incidentsls - £184 Donationslgrants - £1,540.00, we received a £1,000.00 grant from 'We Love Lichfield,, Fundraising over the year netted £1953.16. this included virtual balloon races and external events such as bonfire night and Chnstmas concert. We sold unused toys and received £127.60. Services for example sumup and a refund from Alrewas show (overpayment) was £73.46 Interest on deposlt account £196.62 enditure: For the year 2023 our expenditure was £103,106,58 Wages were36 the main expense at £89,050.88 for the year, followed by rent at £7,076.85. The Current account showed a loss of £4,386.89, however £1000.00 was transferred to Deposit account and the interest received on DIA was £196.62 Closing balance on CIA- £8,175.79 D/A- £23,426.85 giving a total cash balance of £31,602.64 Comments: Our finances for 2023 were not as good as in previous years even though our setting's strong reputation within the immediate community and surrounding villages and word of mouth still maintains, the current financial dimate has affected sessions taken by children. Parents are not able to afford childcare if their child does not qualify for the govemment funding. However, it is predicted that funding is going to be made available for children of working parents starting April 2024. We have a comfortable amount of children on our list, with children on the waiting for 2024. Despite all the children, we are struggling to engage parents to take on committee roles or to volunteer to help out wth events. Rent has increased and is currently £36.75 per day. Fees: Decisions were made to increase the consumables and resources from £5 to £10 in September. Increasing private fees would not generate much income due to more children accessing government funding, it also means that all children fees are increased for fairness rather than those who pay privately. We decided to discontinue the funded children's 'Loyalty Incentive, from January 2024. Children accessing 15 funded hours currently receive an extra 3 hours free for taking all their funded hours at Stepping Stones. This created a loss of £17 per child per day. This means any hours above the funded hours they are entitled to would now be charged for. Wa During the academic year September 2022 to July 2023, it was noticed that we were operab.ng over the staff:child ratios which meant the wages were consuming much of the income. In April 2023, The National Living Wage increased to £10.42 which meant all staff wages increased by £0.80 per hour which significantly increased our monthly wage outgoings. From September 2023 the setting operated within the mandatory Staff:child ratios as specified by Ofsted. This allowed the bank balance to recover and by Christmas 2023 we managed to decrease our expenditure to enable us to be up by £2841.72. Staff are still accessing the work based pension scheme. Staffin The deputy Manager resigned with effect from 31 March and a new Deputy Manager took up position from 19th June. 3 month o erational costs includin redundanc At £51,533.18, we have been unable to transfer any monies into the deposit account this year to cover the redundancy and operational costs. Registered Charity 1026412 Ofsted Numbers: 21862)