Stithians Preschool and B4 & L8 Club Annual Accounts
These are the Annual Accounts for Stithians Preschool and B4 & L8 Club (Registered charity 1032443) operating from registered address The Stithians Centre, Church Road, Stithians, Truro, Cornwall, TR3 7DH.
This set of Annual Accounts relates to the financial reporting period of 1st September 2021 to 31st August 2022.
About Stithians Preschool and B4 & L8 Club
The Stithians Preschool and B4 & L8 club offers Ofsted registered child care for children between the ages of two and 11 from their setting within The Stithians Centre in the village of Stithians, Cornwall.
The Preschool is a significant source of wrap-around care for children in attendance at Stithians CP School, located next door.
The Preschool is open Monday to Friday during term-time between 8am until 6pm. In the 2021/22 financial year, the Preschool also offered a Holiday Club service for four weeks of the School Summer Holidays.
Our aims
The aims of the Preschool are to enhance the development and education of children primarily under statutory school age.
There is a strong ethos within the Preschool to provide inclusive support to parents, and their children, regardless of race, culture, religion, means or ability. This includes promoting the Preschool and its activities within the local community, in working closely with other local services and seeking to raise funds for the improvement of the facilities and opportunities made available to children and families using the Preschool.
Our income
The Preschool’s highest source of income during 2021/22 was from fees paid directly for services (£48,258.75). This was payment for services such as: B4 and L8 Club attendance for children attending school; children who are not eligible for childcare funding; or for hours over and above those childcare funding will cover. In 2021/22, income from fees increased by 40% compared to the previous financial year.
Alongside these fees, the Preschool receives income from the local authority for children who are eligible for childcare funding. Income from this source was slightly lower in 2021/22 than compared to the previous year.
In 2021/22, the Preschool undertook a range of fundraising activities (attracting £1,341.97), including; a sponsored ‘tough’ fun-run; participating in the Stithians Christmas Fayre, having a stall at the Stithians Jubilee Party, and through donations. The Preschool were awarded a generous donation from the Stithians Parish Council of half the proceeds from their Annual Scarecrow Competition (£501.33).
There was no grant funding secured in 2021/22.
Albeit, private fees saw an increase, overall income was lower in 2021/22 compared to 2020/21. This can largely be attributed to 2020/21 having the additional source of income from the £10,000 grant.
Our expenditure
The largest proportion of expenditure for the Preschool was represented in the staffing costs, particularly staff wages, which made up over 70% of expenditure. There was a slight increase in staff wages between the 2021/22 and 2020/21 financial years. This can be attributable to the award of a pay uplift for the Preschool Team, an integral element of the new committee’s plan to remunerate the team for their hard work and commitment and seek to make Stithians Preschool a great place to work.
After staffing related costs, the next largest proportion of expenditure was rent. Rent is inclusive of all utilities, except the telephone and broadband service. Rent in 2021/22 was higher than in 2019/20. Due to short closure of the local school due to covid-19, the Preschool extended its service to offer day provision at short notice to school children who attend B4 and L8 Club. This required the rental of an additional room at the centre, which accounts for a proportion of additional rent costs. Due to increases in the cost of utilities, the monthly rent charge increased in August 2022.
A significant investment was made during 2021/22 in upgrading some of the technology available in the setting. This included a replacement desktop computer to make record keeping easier for the team and a new large, flatscreen TV for the setting which has been a big hit with the children and enabled activities, such as ‘dough disco’.
Overall income for 2021/22 was £89,110.99 and after expenditure of £92,020.12, the Preschool made a £2,909.13 deficit. This was approximately £15,565 less than the previous year.
Reserves
Stithians Preschool will be reviewing its Reserves Policy to determine an appropriate reserves level. This will be informed by operational risks, income sources and the Preschool Development Plan.
Our Trustees
The Preschool is managed by a Board of Trustees. Trustees are made up of parents and close relations of children attending the setting and employees of the Preschool. Trustees are typically voted in via the Annual General Meeting. The Trustee’s for the financial year of 2021/22 were:
Ben Hudd - Chair Lucy Swindells - Secretary Kirsty Hickson - Treasurer Joanne Pymer Nichola Halstead Linsey Matthews Tyler Bowden.
At the end of the financial year 2020/21, Committee Member Ben Hudd resigned from the role of Chair. The position of Chair was subsequently taken up by Lucy Swindells.
Kirsty Hickson Treasurer
Lucy Swindells Chair
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2021/22 2020/21
INCOME
Fees £46,499.85 £34,087.85
Holiday Club £1,758.90 £0.00
CC Funding £39,008.94 £41,270.12
SEN - additional funding £0.00 £5,282.26
Fundraising £1,341.97 £0.00
Grants £0.00 £10,000.00
Other £501.33 £1,928.30
TOTAL INCOME £89,110.99 £92,568.53
EXPENDITURE
Staff Salaries £64,322.07 £57,334.91
PAYE / NI £9,445.06 £3,057.05
Pension £3,555.50 £0.00
Payroll fees £378.00 £824.80
Ofsted £50.00 £0.00
Recruitment £0.00 £0.00
Rent £5,225.00 £4,800.00
Bank charges £93.00 £84.00
Insurance £882.72 £142.89
Health and safety £560.03 £553.71
Meals / Snacks £920.96 £422.48
Equipment / resources £3,487.69 £10,739.81
Repairs / Renewals £59.99 £86.19
Stationery / IT Costs £2,196.45 £1,388.75
Postage £0.00 £0.00
Training (Costs) £256.00 £477.25
Fundraising Costs £32.54 £0.00
Petty cash / sundries £478.31 £0.00
Marketing £76.80 £0.00
Contingency Fund £0.00 £0.00
TOTAL EXPENSES £92,020.12 £79,911.84
SURPLUS/DEFICIT -£2,909.13 £12,656.69
OPENING BALANCE £34,927.88 £22,318.53
CLOSING BALANCE £32,018.75 £34,975.39
Bank Statement £32,005.75 £34,914.88
CCLA SAVINGS ACCOUNT
BALANCE £1.30 £1.30
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