**Treasurers Report** 

## **2023/2024** 

Financially this has been a very positive year for the preschool. 

In the 23/24 school year we had a surplus of £14k compared to £7k deficit last year and ended the year with a bank balance of £32k.  This is an adequate bank balance (recommended balance for a setting of this type is the equivalent of approx. 3 months wages).  Any available funds are invested back into the preschool in equipment, training and staffing. 

The management team have worked hard during the year to ensure rosters are appropriate to ensure children are safe and receiving excellent care whilst at the pre school but at the same time adjusting staff hours in line with numbers of children where possible to reduce outgoings.  Fees have been increased at the lowest level possible and the government funding is only ever paid with minimum (if any) increase each year. 



## **Little Spinnakers Pre-school** 

## **Income/Expenditure Statement for the period 1/8/2023-31/8/2024** 

|**Income**<br>Portsmouth City Council (NEG funding)<br>Fees<br>Fundraising<br>**Total Income**<br>**Expenditure**<br>Staff Wages<br>Pension<br>Rent<br>Insurance/Fees<br>Equipment/Educational Materials<br>Training<br>Phone/Internet<br>Accountants fees<br>School trips/Visitors<br>PRS<br>Uniforms<br>**Total Expenditure**<br>**Net Surplus**<br>Bank balance 01/09/23<br>Bank balance 31/08/24<br>**Net Surplus**|**£**<br>189,977<br>18,191<br>1,016|
|---|---|
||**209,184**|
||162,831<br>3,769<br>13,366<br>852<br>7,647<br>1,380<br>1,514<br>2,921<br>157<br>131<br>215|
||**194,783**|
|||
||**14,401**|
||17,726<br>32,127<br>**14,401**|





## **Independent examiner's report on the accounts** 

**Section A                        Independent Examiner’s Report** 

**Report to the trustees/** Charity Name **members of** Little Spinnakers Pre School **On accounts for the year** 31/8/2024 **Charity no** 1028045 **ended (if any) Set out on pages** (remember  to include the page numbers of additional sheets) 

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended **31 / 08 / 2024** 

- **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** 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 accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 

## **Independent examiner's statement** 

I have completed my examination.  I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: 

- accounting records were not kept in accordance with section 130 of the Act or 

- the accounts do not accord with the accounting records 

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

* _Please delete the words in the brackets if they do not apply._ 

**Date:** 30/05/2025 **Signed:** ~~oe~~ **Name:** LOUISE ETHERINGTON ACMA CGMA ~~Po~~ **Relevant professional** CIMA QUALIFIED (ACMA CGMA) **qualification(s) or body (if any): Address:** 25 Mayles Road Southsea PO4 8NP 

1 

**October 2018** 

**IER**