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2021-08-31-accounts

Trustees Annual Report Year End August 2021

Marsh Gibbon Pre-School has certainly had another challenging year as it navigated its way through COVID and the guidance set by the Government. The impact of COVID-19 on the financial results of the Pre-School continues to make any year over year comparisons difficult on both revenues and costs.

The Autumn Term 2020 started with only 21 children on role (vs. 37 children prior year) as parents continued to hold back starting children. By Spring Term 2021 the numbers had picked up to 29 (vs. 43 prior year) and finally by Summer as life gained some normality the numbers went up to 44 and the level Preschool is used to. Due to the low numbers in the Autumn Term the Early Years Funding was not sufficient and finally in December 2020 the Bucks County Council awarded Preschool’s additional funding. Marsh Gibbon Preschool received an £11k top up to bring it’s funding level on a par with the prior year. After Autumn, no further top up’s were awarded, only a £2K COVID cleaning fund. Therefore, during the Spring Term funding remained £13K lower than the prior year. Which is the main driver of the year over year decrease. By Summer Term the higher number of children meant funding was back at usual levels.

In other areas of revenue, fees from parents were up as there were no significant periods of Preschool closure as there had been in the prior year. Preschool was fortunate to be awarded a £0.9K grant from East West Rail due to the impact of their work on the local area. Donations were down £0.8K year over year, primarily as the Preschool could not run PE sessions throughout the year which parents strongly donate to.

Fundraising was level year over year. Some fundraising activities such as the Trike Ride (£1.2K) and Christmas Activities (£0.4K)were able to resume. Unfortunately, COVID restrictions meant the annual Indulgence Evening and Sports Day could not take place. Each time the Preschool faced this challenge they sought alternative ideas and still managed to raise £2.8K.

Payroll expenses, the largest expense for the preschool at £80k was down £18k year over year as staff significantly reduced their hours during Autumn and Spring Term when children numbers were down. The Preschool also did not employ a backfill for the Preschool Leader whilst she was on maternity leave. Therefore, the Preschool ran with 1 less headcount.

Cost for premises is up year over year by £3K as the Preschool did not have the closure that it had the prior year. In the prior year the Preschool was closed from 20th March until June and did not incur any fees for the Village Hall. During the Autumn Term the Village Hall reduced their fees to Preschool in support of the tough financial period the Preschool was experiencing.

In other areas of costs, consumables and catering were down as snack couldn’t be offered in the early terms and staff continued to cut costs where possible. Staff Expenses are up £0.3K as staff were finally able in the Summer Term to have some new uniform which they had been very overdue receiving. Unfortunately for staff, COVID meant that training opportunities were limited so training costs were down £0.3K.

The Preschool year finished with a surplus of £3.5k which is incredible when the Autumn Term and Spring Terms were extremely challenging. The Staff and Committee negotiated tirelessly with stakeholders to support the Preschool through this difficult period. Fortunately, the support of funding from Bucks CC in the Autumn, the Village Hall committee supporting with reduced hall hire fees until Easter and the contribution from EWR has meant the Preschool can feel proud it secured the survival of the Preschool.

Whilst the impact of COVID makes it difficult to financially forecast 2021-22, the Trustees are optimistic the Preschool is through the worst and 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 2021

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 2021
15,919
87,015
894
2,789
1,697
560
172
248
-
109,293
80,222
348
284
520
783
18,030
1,844
405
76
772
179
852
28
176
972
293
4
105,788
3,505		 Year Ended
31st Aug 2020
12,753
100,697
1,000
2,917
2,542
220
114
295
-		 Variance
3,166
-13,682
-106
-128
-845
340
58
-47
0
0
120,538 -11,245
98,191
2,233
572
475
492
14,969
2,216
800
29
952
178
591
-
176
964
-
-		 -17,970
-1,885
-288
45
291
3,061
-372
-395
48
-180
1
261
28
0
8
293
4
122,837 -17,049
-2,299 5,804

Marsh Gibbon Preschool Balance Sheet 31st August 2021

Marsh Gibbon Preschool
Balance Sheet
31st August 2021
Current Assets
Cash
Current Account
Savings Accounts
National Savings Account
Fixed Assets
Managers Laptop
Deputy's Laptop
Storage Shed
Accumulated Depn
Uniform Stock
Debtors
Prepayment (insurance)
Current Liabilities
Prepaid Income
Accruals
Creditors
Net Assets
Set-asides and Contingency
Redundancy
Hardship Fund
3 months Running costs
Balance B/F
Surplus/Deficit for year
Balance C/F		 Year Ended
31st Aug 2021
2,590
18,382
45,394
1,042
1,039
613
639
-2,291
178
3,002
679
71,267
10,010
385
-
10,394
60,873
14,814
300
26,564
41,678
57,368
3,505
60,873		 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

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 2021 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 DD / MM / YYYY .

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 [The charity’s gross income exceeded £250,000 and I am qualified to examiner's statement undertake the examination by being a qualified member of [insert name of applicable listed body]]. Delete [ ] if not applicable.

I have completed my examination. I confirm that no material matters have 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:

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.

Signed:
Name:
Relevant professional
qualification(s) or body		 Date: 15 MAY 2022
MELISSA STRANGE
FCCA (Reg. No. 0801768)

Oct 2018

1

IER

(if any):

Address: GEROAN, WEST EDGE, MARSH GIBBON, BICESTER, OX27 0HA

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 .

Oct 2018

2

IER