## **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 L*Tried 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