## **Portreath PreSchool Finance Report** _Including Independently Examined Accounts_ **September 2024 - August 2025** ||**Contents**|| |---|---|---| |**Trustees Report**
**3**||| |**Income and Expenses**
**4**||| |**Balance Sheet**
**5**||| |**Independent Examiner’s Report**
**6-7**||| Page **2** of **7** Portreath PreSchool - Charity No. 1028290 ## **Portreath Preschool Treasures Report** ## **Treasurer’s Report for the AGM, August 2025** This year, our preschool worked hard to provide excellent quality services despite financial pressures. Below is a summary of our financial performance over the past year. ## **Income** Our total income for the year was £79,669.61. Most of this came from government funding, fees from families, donations, and fundraising. The committee did a great job organising fundraising events. Together with donations, they brought in £6,692.98. Their support has been essential. ## **Costs** Our cost of sales, mainly for resources and uniforms, was £1,286.79. The biggest expenses this year were our administrative and staff costs, totalling £110,675.05. Wage costs alone accounted for £104,122.31. A major reason for this increase was the rise in wages. This was due to: - the national minimum wage going up, and - an increase in national insurance contributions. Since wages make up the largest part of our spending, these changes significantly affected our overall costs. ## **Funding Challenges** Even though our operating costs have risen, our government funding has not increased. This puts pressure on our budget and contributed to our deficit by the end of the year. ## **Final Position** After calculating all income and expenses, we ended the year with a deficit of £32,292.23. ## **Conclusion** Despite facing financial challenges this year, we continued to operate and support the children and families we serve. The committee’s fundraising efforts have been a tremendous help. We will need to keep working together to manage rising costs and seek additional sources of income in the future. Page **3** of **7** Portreath PreSchool - Charity No. 1028290 Portreath Preschool Income & Expenses For the year ended 31 August 2025 Account 2025 2024 Turnover Donations and legacies Fees Funding Fundraising Grant funding Interest Income Sale of Unifomi Sales of Product Income Total Turnover 4.246.51 4.367.74 5.648.63 14.805.88 66.814.00 75.023.83 2.446.47 3.462.93 500.00 698.50 117.30 113.71 14.00 113.65 0.00 15.00 79,786.91 98,601.24 Cost of Sales Purchase of Unifom Resources Total Cost of Sales 134.36 1.149.44 1,283.80 321.79 1.993.54 2,315.33 Gross Profft 78 503.11 96 285.91 Administrative Costs Administration AdverknsinglPromotional Books & Publications Cleaning Computer Costs Insurances Interest Payable Legal & Professional Paypal fees Payroll Expenses:Pension Payroll Expenses:Wages Phone Costs Printing, Postage and Ststionery Raising funds Repairs & Maintenance Snacks & Kitchen Items Staff Traininq & Welfare Sundry Expenses Totsl Administrative Costs 1,281.60 1,292.99 160.00 179.93 3.45 0.00 2,390.62 936.98 274.78 0.00 579.94 853.03 5.23 59.79 90.00 90.00 0.00 3.86 1,288.68 1,101.05 96,298.53 86,013.90 712.37 882.45 212.72 215.70 135.36 19.09 13.92 14.75 467.30 400.17 397.98 311.80 99.85 99.19 104,412.33 92,474.68 eratin Profit 25 909.22 3 811.23 Prorrt on Ordina Activities Before Taxation 25 909.22 3 811.23 Profit after Taxation 25 909.22 3 811.23 Summary of Funds Portreath Preschool As at 31 August 2025 Account 31Au 2025 31 Au 2024 Current Assets Cash at bank and in hand Paypal Cash account Portreath Pre School Playgroup Accounts Receivable Emerqency Bank Funds Snack float Total Current Assets 29.59 317.65 30.134.24 0.00 11.428.73 40.00 41.950.21 265.74 234.25 55.329.12 131.25 11.311.43 30.00 67,301.79 Page5of7 Portreath presch￿1. Charity No. 1028290 ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** |**Report to the trustees**
**On accounts for the year**
**ended**
**Set out on pages**
**Responsibilities and basis**
**of report**|Portreath PreSchool|Portreath PreSchool|Portreath PreSchool| |---|---|---|---| ||||| ||31st August 2025|**Charity no**
**(if any)**|1108949| ||||| ||2
(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 / 2025**.
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 accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent examiner's** I have completed my examination. I confirm that no material matters have **statement** come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect: - the accounting records were not kept 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 concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that 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 of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ |**Signed:**
**Name:**
**Relevant professional**
**qualification(s) or body (if**
**any):**|S.Smith||28/04/2026| |---|---|---|---| ||||| ||Stacey Smith||| ||||| ||Institute of Certified Bookkeepers - AICB||| Page **6** of **7** Portreath PreSchool - Charity No. 1028290 **Address:** Suite 8, Tower House New Portreath Road, Redruth Cornwall TR16 4QL ## **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** The preschool has again kept very good records, I note a difference between **of any items that the** the treasurer's report and the final income and expenses figures, this is due **examiner wishes to** some incorrect processing from the payroll software that has now been **disclose** . reviewed and rectified. My only recommendation is that with funds reducing the charity calculate and state their reserved funds in next year's accounts, to ensure enough money is available if the charity were to need to close in the future a reserve figure would give them a point at which to close to ensure redundancy and other running costs could be paid. Page **7** of **7** Portreath PreSchool - Charity No. 1028290