2024-08-31-accounts

Treasurer's report for AGM 26th November 2024

Hi, I'm Kamila Cantor and I'm the Treasurer.

Everyone should have a copy of the profit and loss report covering the financial year 01st September 2023 to 31st August 2024. These accounts have not yet been reviewed.

I will arrange 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 £32,784.06 in reserve account and £64,396.04 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 £12,477 compared to loss last year of £6,193.84.

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 £132,217 compared to last year of £110,500 compared, which is £21,644 higher. We raised £9,810 from fees – this figure is lower to last year of £11,255 difference is £1,445. We need to bear in mind that 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 by £1,534 compared to last year, but due to lower amount spend on wages and a higher amount received from London Borough Bromley we still managed to make a profit of £12,477.

Last year we have increased our paid fees from £15 per session to £21.

Even with increased fees we still didn’t manage to reach the same level of sales received last year.

Royston Playgroup

Profit and Loss Report

01 September, 2023 - 31 August, 2024

Sales	Sales
4000 - Sales - Products & Services 9,810.00
4900 - Other income LB BROMLEY N Ed Grant 132,217.16
4903 - Donations	65.00
	Total Sales	£142,092.16
Direct Expenses
5050 - Sub-Contractors	377.50
5051 - Artists Fee	100.00
5060 - Other Direct Expenses	82.50
8202 - Staff Gifts	236.00
	Total Direct Expenses	£796.00
	GROSS PROFIT / LOSS	£141,296.16
Overheads
6000 - Marketing / Advertising	302.14
7000 - Employee Wages and Salaries	106,358.11
7020 - Employers NI	7,083.33
7030 - Employer's Pension	1,920.10
7100 - Rent	3,200.00
7120 - General Rates	12.50
7501 - Paint / Paper/ Craft / Art	314.47
7520 - Office Stationery	1,478.05
7540 - Internet Charges	486.32
7550 - Computer & Software	253.20
7551 - It Services	62.77

18 Nov 2024 12:05

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7600 - Legal Fees / DBS Checks 89.73
7601 - ICO 35.00
7602 - Ofsted 50.00
7610 - Accountancy Fees 965.00
7630 - Business Insurance 684.99
7810 - Cleaning and cleaning products 46.30
7900 - Bank Charges and Interest 796.73
8200 - General Expenses / Toys 867.43
8201 - Gardening 422.99
8204 - PPL PRS Music Licence 148.13
8210 - Subscriptions 308.34
8211 - Books / Magazines 58.92
8230 - Training Costs 446.40
8240 - Refreshments / Snacks 2,428.43
Total Overheads	£128,819.38
NET PROFIT / LOSS	£12,476.78

18 Nov 2024 12:05

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INDEPENDENT EXAMINERS REPORT REPORT TO THE TRUSTEES OF- Royston Playgroup ACCOUNT PERIOD- 01 September 2023 to 31 August 2024 REGISTERED CHARITY NUMBER- 1030644 I report to the Trustees of Royston Playgroup ('the trust") on the examination of the accounts for the year ending 31 August 2024. As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirement 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: accounting records were not kept in accordan￿ with section 130 of the Act or the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Signed.. C￿. i cx Date.. 16 June 2025 Name: Catherine Louise Parkes Company.. CLP Bookkeeping & Accountancy 18 Maple CreS￿nt Trefechan Merthyr Tydfil Mid Glamorgan CF48 2EH 18 Maple Crescent, Trefechan, Merthyr Tydfil. CF48 2EH 07752 023720 [e-mail]

/. CLP OBSERVATIONS Following the Independent Examination I have also noted the following observations, which may be of use during your next AGMICommittee Meeting.. The charity holds a constitution that has clear objectives of Ihe charity and its use of finances. However, the constitution does not detail the structure of the charity or any specific roles held e.g. Chairperson, Treasurer. The financial reserve of £60,000 has not been met at the end of the year. However, it is unlikely that this will impact on the sustainability of the charity. There are regular committee meetings which are fully documented. The minutes are clear and easy to follow for direction and contains a full breakdown of the financial state. The existing Treasurer is a financial professional, which will continues to be a valuable asset to the charity. Income has increased this year by 14.260h, with overall profit being £12,476.78. There has been no unnecessary expenditure this year. all expenditure has been for the good and benefit of the charity. The charity has no trading accounts, restricted accounts or designated funds. The charity is well run with engagement from the committee. Overall, this is a very well run charity that manage their income well. Signed: Date.. 16 June 2025 18 Maple Crescent, Trefechan, Merthyr Tydfil, CF48 2EH 07752 023720 [e-mail]