## **Trustees Annual Report Year End August 2020** Marsh Gibbon Pre-School has certainly had a year like no other. The impact of COVID-19 on the financial results of the Pre-School makes any year over year comparisons illogical. The impact has been across both costs and revenues. The Autumn Term 2019 got off to a strong start with 37 children on role (vs. 26 children prior year). By Spring Term 2020 the numbers had increased further to 43 (vs. 37 prior year). Therefore, funding from Bucks County Council and parent fees meant the Preschool was in a strong financial position. Unfortunately, the closure of Preschool on 20[th] March 2020 meant all revenues ceased apart from the Early Years Funding from Bucks County Council. So, year over year Funding is up due to the additional children whilst all other areas of revenue are down due to Preschool being closed. When Preschool re-opened in June 2020 it was only for 9 children and as fully funded children there were no incremental fees from parents. Therefore, fees from parents is down £9.6k but offset by Early Years Funding up £15.7K. The staff worked tirelessly on fundraising prior to closure and did exceptionally well to raise nearly £3K in 1.5 terms. The Indulgence Evening in November again proved to be the most successful, generating £1.3K followed by Christmas activities that raised a further £0.5K. Donations were up £0.5K as parents donated to support the PE and Musical Mini Activities taking place in Preschool. Payroll expenses, the largest expense for the preschool at £98k was down £1k year over year as staff numbers and hours were at basic levels. There were no additional headcount or salary inflation during the year. The biggest cost reduction was on premises as during the closure period the Village Hall was not in use and so the Preschool incurred no fees other than storage. When Preschool reopened in June it was only for 3 days per week rather than the usual 5. So, costs were down £6.7K vs. prior year. The Preschool did receive an increase in hire fees in January 2020 of 1.9%. Likewise, closure and less hours in June led to reduced costs on consumables and catering. Snack could not be offered when Preschool re-opened. Costs on cleaning materials and PPE equipment increased over £100. Training costs were up year over year as staff kept up to date on critical areas such as first aid, safeguarding, phonics and food hygiene and kept up with this training whilst the Preschool was closed. The Preschool year finished with a deficit of £2.2k which is unfortunate when it was on track to make a surplus before COVID-19. Fortunately, the continuation of Early Years Funding and the savings the Preschool hold meant that the future of the Preschool was not at risk. Whilst it is difficult to financially forecast 2020-21 the Trustees are confident with the strong, experienced Staff and Committee the Preschool will remain sustainable during these challenging times. ## **Marsh Gibbon Pre-School Income and Expenditure Account to 31st August 2020** ## **Marsh Gibbon Preschool Balance Sheet 31st August 2020** |**Marsh Gibbon Pre-School**
**Income and Expenditure Account**
**to 31st August 2020**|||**Marsh Gibbon Preschool**
**Balance Sheet**
**31st August 2020**||| |---|---|---|---|---|---| |**Income**
Fees from Parents
Early Years Funding
Training Grants
Fund-raising
Donations
Registration and Admin Fees
Uniform Sales
Interest earned
Gift Aid
Other income
**Gross Income**
**Expenses**
Gross Wages
Employers NI contributions
Direct Training Costs
Payroll Admin
Staff Expenses
Premises
Equipment and Consumables
Catering
Health & Safety (inc First Aid)
Admin Expenses
Memberships/subscriptions
IT
Bad Debts
Depreciation
Insurance
Uniform purchase
Misc Expenses
Total Expenses
**Net Surplus/(Deficit)**|**Year Ended**
**31st Aug 2020**
12,753
100,697
1,000
2,917
2,542
220
114
295
-
**120,538**
98,191
2,233
572
475
492
14,969
2,216
800
29
952
178
591
-
176
964
-
-
**122,837**
-2,299|**Year Ended**
**31st Aug 2019**
22,404
84,922
4,000
3,630
2,056
540
159
79
-
296|**Variance**
**Current Assets**
-9,651
Cash
15,775
Current Account
-3,000
Savings Accounts
-713
National Savings Account
486
Fixed Assets
-320
Managers Laptop
-45
Deputy's Laptop
216
Storage Shed
0
Accumulated Depn
-296
Uniform Stock
Debtors
2,452
Prepayment (insurance)
-1,232
**Current Liabilities**
75
Prepaid Income
227
Accruals
53
Creditors
-394
-6,697
-1,853
**Net Assets**
-608
-5
**Set-asides and Contingency**
129
2
Redundancy
183
Hardship Fund
-15
3 months Running costs
0
138
-12
-0
Balance B/F
-10,009
Surplus/Deficit for year
**Balance C/F**
12,461|**Year Ended**
**31st Aug 2020**
1,413
10,482
51,155
1,034
1,039
613
639
-2,115
308
542
679
65,789
7,421
456
544
8,422
**57,367**
17,083
300
30,709
**48,092**
59,666
-2,299
**57,367**|**Year Ended**
**31st Aug 2019**| ||||||2,792
12,598
54,869
1,026
1,039
613
639
-1,940
413
563
671| |||**118,086**|||| |||99,423
2,159
345
423
886
21,666
4,068
1,408
34
823
176
408
15
176
826
12
0|||73,283| ||||||11,677
1,589
351| ||||||13,617| ||||||| ||||||**59,666**| ||||||11,877
300
33,200| ||||||**45,377**| ||||||74,426
-14,760| |||**132,846**|||| |||-14,760|||**59,666**| ||||||| ## **Independent examiner's report on the accounts** ## **Section A Independent Examiner’s Report** **Report to the trustees/** Charity Name MARSH GIBBON PRE SCHOOL **members of** **On accounts for the year** 31 AUGUST 2020 **Charity no** 1033338 **ended (if any) Set out on pages** (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 August 2020. **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** accounts in accordance with the requirements 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. - **Independent** I have completed my examination. I confirm that no material matters have - **examiner's statement** come to my attention in connection with the examination ~~(other than that disclosed below *)~~ which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - • the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. * _Please delete the words in the brackets if they do not apply._ **Signed: Date:** 13 MAY 2020 **Name:** MELISSA STRANGE **Relevant professional** FCCA (Reg No. 0801768) **qualification(s) or body (if any):** **Address:** GEROAN, WEST EDGE, MARSH GIBBON, BICESTER, OX27 0HA 1 **Oct 2018** **IER** ## **Section B Disclosure** Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). **Give here brief details of any items that the examiner wishes to disclose** . 2 **Oct 2018** **IER**