Treasurer's report for AGM 23[rd] November 2022
Hi, I'm Kamila Cantor and I'm the Treasurer.
I will share my screen with you, so you can see the profit and loss report covering the financial year September 2021 to August 2022. These accounts haven’t been reviewed yet, unfortunately the accountant who reviewed them last year’s is not available this year. I will have to ask an independent Accountant to verify and submit our accounts to Charity Commissioner.
We try to operate on a break-even basis, and we had built up some extra reserves over the last few years. Currently we have £31,850 in reserve account and £59,592 in main account. In the last couple of years our income exceeded our expenses. Our monthly cash flow depends on the timing of the payments from London Borough Bromley and so which term they fall in. This year we made a profit of around £940.
We need to ensure we have enough money in the bank account to count for 6 months wages (about £60,000) in case our funding is late.
Most of our funding comes from the Nursery Education Grant from Bromley LEA this year we received £108,000 compared to last year £98,850, which is £9,150 higher. We raised £31,653 from fees – this figure is higher by £15,153 than last year (£16,540) but this fluctuates as the fees highly depends on the ages of the children in playgroup.
As a non-profit making organisation, we try to reinvest any surplus funds after paying wages, training, rent and other essentials.
Our expenses were higher this year due to few unexpected issues. We have replaced old toys for kids and renovated outdoor garden area which includes new boards for security. Our rent has increased from £600 per quarter to £800.
As we value our staff highly at playgroup - they all undertake regular training and were awarded a 1% pay increase in September 2020.
Further pay increase to be discussed at the end of the meeting but I recommend 3% increase to be taken effect from December salaries.
Royston Playgroup
Profit and Loss Report
01 September, 2021 - 31 August, 2022
| Sales | Sales | |
|---|---|---|
| 4000 - Sales - Products & Services 31,653.00 |
||
| 4900 - Other income LB BROMLEY N Ed Grant 108,069.68 |
||
| 4903 - Donations | 171.00 | |
| Total Sales | £139,893.68 | |
| Direct Expenses | ||
| 5050 - Sub-Contractors | 280.00 | |
| 8202 - Staff Gifts | 1,066.99 | |
| Total Direct Expenses | £1,346.99 | |
| GROSS PROFIT / LOSS | £138,546.69 | |
| Overheads | ||
| 7000 - Employee Wages and Salaries | 119,511.76 | |
| 7020 - Employers NI | 1,025.61 | |
| 7030 - Employer's Pension | 1,839.30 | |
| 7050 - Other Deductions | 1,285.44 | |
| 7095 - Recruitment Expenses | 300.00 | |
| 7100 - Rent | 3,200.00 | |
| 7460 - Subsistence | 302.46 | |
| 7501 - Paint / Paper/ Craft / Art | 60.81 | |
| 7520 - Office Stationery | 1,411.39 | |
| 7540 - Internet Charges | 598.26 | |
| 7550 - Computer & Software | 37.55 | |
| 7551 - It Services | 22.78 | |
| 7600 - Legal Fees / DBS Checks | 117.87 | |
| 7601 - ICO | 35.00 | |
| 7602 - Ofsted | 50.00 | |
23 Nov 2022 11:03
Page 1 of 2
| 7610 - Accountancy Fees 249.00 |
|
|---|---|
| 7630 - Business Insurance 695.22 |
|
| 7800 - Repairs and Renewals 52.66 |
|
| 7810 - Cleaning and cleaning products 293.27 |
|
| 7900 - Bank Charges and Interest 35.30 |
|
| 8200 - General Expenses / Toys 1,636.80 |
|
| 8201 - Gardening 2,437.81 |
|
| 8204 - PPL PRS Music Licence 168.56 |
|
| 8210 - Subscriptions 934.72 |
|
| 8211 - Books / Magazines 247.43 |
|
| 8212 - Early Years Membership 81.65 |
|
| 8213 - Nursery Story 249.50 |
|
| 8230 - Training Costs 24.00 |
|
| 8240 - Refreshments / Snacks 702.37 |
|
| Total Overheads | £137,606.52 |
| NET PROFIT / LOSS | £940.17 |
23 Nov 2022 11:03
Page 2 of 2
ston Pla Financial Statements For the ear ended 31 Au ust 2022
ton PIA Profit and IA$ Account For the ear ended 31 A 2022 2022 2022 2021 Intome )ndon Borough of Bromley grant Sales of products and servitts Other incom¢ 10&069 31.653 91J38 24,187 139.893 115.528 Dirett costs Staff costs Recruitment cxpenses Subsistence Staff gift5 Materials Refreshments Licences and subscriptions 123.942 300 302 1.067 1.698 702 1706 98272 loo 67 47 1264 356 1.776 131155 102J02 GROSS PROFTt 7.738 13226 Rent Cleanin8 and repairs Office ststionery Comput¢r hardware Computer software and web Subscriptiotts tnsurance Legal fees Accountancy fees Miscellaneous ex5¢5 Bank charges 3200 346 1,411 1400 762 3,032 963 625 194 659 695 203 249 35 6,798 8,921 Surplus for the ye#r Surp1 brought fonvard 940 91 J37 4.305 87,032 Surplus carried forward 92277 91,337 Represented by: Bank Current account Bank deposit account Cash 59.592 31.853 832 59.460 31.844 33 92277 91,337
Year ended 31 A 2022 Itsd deRt eumiuer's rt lo the Trustees of Ro to uninco number I report on the accounts of the aiw)ve charity for theyear ended 31 Aiwjsi 2022. which are sei out on page 2. RespoDsibilitW8 and b&%i8 of report As the charity's trllSt you are respon7)le for the pyqmrdtion of the accounts in accordance with the requirements of th¢ Charities Act 2011 (he Acf). I report in respett of my examination of the Tn&'s accounts LTried out under section 145 of the 2011 Act and in carrying out my examinatio I have followed all the appltcable directions given by the Charity Commission under section 145(5Xb) of the Act. To state whether particular tnatters have come to my attention. B¥sis ofindependenl ewniner's report My oxamination was catTied out in accordan¢¢ with the genet3J directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts prescnted with those records. It also includes considerntion of any unusual ilems or disclosur¢5 in the accounty and seekin8 explanations concerning any matters. The prctedures undertaken do not provide all the evidence that would be requiroa in an audit and consequently no Opini( is given as to whether the w)unts pres¢ni a Irue and fair view- and the report is limited to the matters set out in the next statement IDdepeDd¢Bt ¢xaminerf8 slatemext I have completed my examination. I confm that no mat¢rial matters have come to my attention in connection with the &Yamination which give me cause to believe ihat in any material respect the accounting re£ords were not kept in COrd8Ce with section 130 of the Charities A¢ or the 8ccAJunts did accord with the accountin8 Jycords" or the Unts did not compty with the applicable reqtsirements concerning the forni and contents of accounts sei in the awities (Accounts and Reports) rcguiatioA% 2008 otherthan any requirement that th¢ accounts gxve a kne and fair- view which is not a rnatt wnsxdered as part of an indetwdent examination. I have no concerns and hav¢ come no other matters ia coluOn with th¢ examination to which attention should drawn in this rewt in order to ¢nable a prw undtrstandin8 of the CoUnts to be reached. M Coates FCA 73A Mayow Road tAindon SE26 4AA 15 May 2023