Treasurer's report for AGM 10[th] November 2020
Hi, I'm Deborah and I'm the Treasurer.
Everyone should have a copy of the Receipts and Payments accounts for the financial year September 2019 to August 2020. These accounts haven’t been reviewed yet, but the accountant who reviewed last year’s accounts has agreed to do this year’s too.
We try to operate on a break-even basis, and we had built up some extra reserves over the last few years. In the last couple of years our income exceeded our income, whereas the year before our expenditure was more than our income. Often it depends on the timing of the payments from LB Bromley and so which term they fall in. This year we were very similar on income and expenditure. We were closed for a couple of months due to Covid restrictions, but Bromley LEA still paid our grant, and we paid our staff in full, without recourse to further public funds.
We need to ensure we have enough for 6 months wages (about £36,000) in our bank account to use as a buffer in case our funding is late.
Most of our funding comes from the Nursery Education Grant from Bromley LEA, with a further £10,700 raised from fees – this is higher than last year (£7,000) but depends on the ages of the children in playgroup. Bromley also give us SIPS funding.
As a non-profit making organisation, we try to reinvest any surplus funds after paying wages, training, rent and other essentials.
The children enjoyed a Christmas party with a professional entertainer and a visit from Big Foot Arts.
We value our staff highly at playgroup - they all undertake regular training and were awarded a 1% pay increase in September 2019.
Bromley only confirm our funding on a termly basis and so to ensure our long-term viability we review fees annually and they were raised to £12.50 in September 2019.
Royston Playgroup (1) Receipts and payments account- 2019-20
| RECEIPTS | £ | PAYMENTS | £ | ||
|---|---|---|---|---|---|
| Fees | £10,717.50 | Wages | £84,574.03 | ||
| N Ed Grant | £89,388.00 | Tax & NI | £8,046.60 | ||
| SIPS | £4,764.00 | Rent | £2,400.00 | ||
| interest | £53.20 | Milk/fruit/cooking | £262.48 | ||
| ofsted refund | £510.00 | Paint/paper/craft | £436.71 | ||
| donation to balance books | £63.24 | Toys/books | £114.13 | ||
| petty cash in | £335.00 | BT | £599.15 | ||
| profit on tea towels | £35.00 | Coffee/biscuits | £29.04 | ||
| refund paypal | £10.99 | Stationery (inc ink for printer) | £787.93 | ||
| Gardening | £282.00 | ||||
| training | £813.00 | ||||
| MPLC music licence | £192.35 | ||||
| PPL PRS | £156.85 | ||||
| ICO | £35.00 | ||||
| AGM | £15.57 | ||||
| software/website | £212.21 | ||||
| fees refunds | £425.00 | ||||
| accounts examiner | £99.00 | ||||
| DBS | £255.55 | ||||
| Josie painting | £50.00 | ||||
| PLA | £15.71 | ||||
| Morton michel insurance | £468.70 | ||||
| currys via paypal | £182.99 | ||||
| chairs | £158.64 | ||||
| lucy sparkles xmas party | £190.80 | ||||
| big foot arts | £330.00 | ||||
| ofsted | £220.00 | ||||
| zoolab | £172.80 | ||||
| lucy sparkles | £636.00 | ||||
| stuart morris textiles | £176.40 | ||||
| petty cash out | £335.00 | ||||
| misc | £504.45 | ||||
| Total | £105,876.93 Difference | £2,698.84 Total | £103,178.09 |
(2) Summary - 1.9.2019- 31.8.2020
| Cash brought forward 1/9/2019 | £84,333.27 |
|---|---|
| Income in year | £105,876.93 |
| Expenditure in year | £103,178.09 |
| Carried forward at 31/8/2020 | £87,032.11 |
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesldirectorsl members of Ro4St-on PIoy9foLLP On accounts for the year ended 31 klu9ustr 202 0 Charity no.: 10306Lk Company no.: Set out on pages o ir,:c!I';'" I report to the charity trustees on my examination of the accounts of the Company for the year ended 3 1 o È Tr2D.. Responsibilities and basis of report As the charity's trustees of the Company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act"). Having satisfied myself that the accounts of the Company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act. Independent examiner's statement appl]. Delete [ ] if not applicable. I have completed my examination. I confirm that no material matters have come to my attention ( ) which gives me cause to believe that: accounting records were not kept in accordance with section 386 of the Companies Act 2006; or the accounts do not accord with such records; or the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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. or .the accounts have not been prepared in accordance with the Charities SORP (FRS102). IER October 2018