2022-08-31-accounts - Chawton Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Treasurers Report

Academic Year: September 2021 to August 2022

INCOME

Total income £66,396.63 (Inc. Fundraising Account)

Income from funded and non funded children into the Current account was £49,199.68 this is a decrease on the last academic year, just over £6.5k less than during 20-21, however this remains comparable with previous years – for example during 19-20 the income was £48,507.09
We started this year with a balance of £10,481.10 in the current account and have ended the year with a surplus of £8,905.77
In line with the last academic year;
68% of our income has come from funded children = £33,380.42 (72% of our income during 20-21 from funded children = £40,341.97)
32% of income came from non-funded children = £15,819.26 (28% of our income during 2021 from funded children = £15,384.62)

Other donations have been received:

Chawton Parish Council grant for £1,000
East Hants DC grant £500
Christmas Raffle and play doh sales £190
Sponsored walk for £147
Sports day cake sale £118
Easter Raffle £37.50
Total raised through fundraising, grants and donations = £1,993

We have raised £1,268 more this academic year compared to the last (£725 raised during 20-21) this is largely due to receiving £1,500 in local authority grants. £500 of this was used to improve our outside facilities by professionally roofing the pergola. £1,000 has been contributed by the Chawton Parish Council to help with financial sustainability of the preschool.

We continue to be grateful for the contributions of our families and friends at the preschool, we have raised nearly £500 through sponsored activities and events.

EXPENDITURE

Total Expenditure £55,242.18 (Inc. Fundraising Account)

Overall expenditure has decreased when compared to the last academic year, expenditure for 20-21 was £57,802.35. However during this academic year; a full terms rent was waivered which equates to approx. £2,400, with this in mind all other expenditure is comparable to 20-21.
Our biggest expenditure remains staff wages ;
We have seen an increase in staff wage expenditure of approx. £6,500 per year, when comparing the last two academic years to 19-20.
The preschool is very aware of staff hours, the team are flexible in how many hours they work, the setting always works with ratios in line with legal requirements and enable us to provide a safe environment for the children.
Increases to national minimum wage are having a significant impact on the preschool financially. During 19-20 staff wages were more than £6,500 less than this financial year and equated to 71% of income. During 21-22 staff wages accounted for 83% of income.
o Whilst non funded fees can be increased to try to manage this, and provide a sustainable setting, regrettably the funding gap for funded children is beyond our control but has an extremely detrimental impact on the setting.

In summary, in light of the increased expenditure on staff wages, the HCC funding gap and lower than usual child numbers Chawton Pre-school is working through a difficult period financially. The financial year ended with £8,905.77 in the current account and £2,248.68 in the fundraising account.

THORNE & CO ILcd Lion Lane Bendcy F3rnham Surrcy GUIO.SHX Tel.. 014?0 22C)1)8 thornebentleyts& ol.com Ta.iacioIi Coiisiiliants Dld A Thorne Mrs L ..Insell l ? Chrisinias C105e Alion Hamp%hirL GI114 *FQ 14 November 2022 Dkar l.ouise CII.-III"I ()% PRF.-SCII()()L A(-C'()I'%T.4 Tr()R TIITr-. I'fr...KK Tr.} I)I%C: 31 tll'C'I'4+T 1022 31 Augus1 ?0?2. 1 havc signed ihc Accounis provided and thesc arc Cn¢Itss h4ving kepi record for my files. Your papers ar¢ read). for collection WI next in this direciion. Yours sincerely avi D,IN'ID A THORNF. Enclosure

CHAwfoN PRE SCHOOL Accounts 1st Septrtmb•r 1021 10 31$¢0t 2022 Incon ind ExpeThditur• kcounliTrd Sh••t INCOME FunLlr JJ.3M 42 15 81916 4.Wl.54 TOTAL INCOME ,JM.63 EXpENDITe 40.982.76 4.1 16 OD R1 TOTAL EXPENC4TUPE 55.242.111 Suvplu• for Jwr 11,IMA• . REPRESENTED BY •1 k. Cwrent C•th Il Blnk. Acc Non Pdea corthknA(rn •M Slptk pl UAlom pwd IniLY4nce 4ndUemb PAYETrIIC ¢i¢th 2244 Sl 11.114. Apprn•d bytr ¢orhYfi1••4Trd •ly•d ih•irbth•Nby KWED Mlbbvn. n*911 THORNE & fo RED IlnN I ANE BENTLEY FARNF4AM SURREY GU10 5HX 01420 22998