Trustees Annual Report Year End August 2022
Marsh Gibbon Pre-School has had a very successful year and has made an amazing recovery post- COVID. The impact of COVID-19 on the financial results for 2020-21 makes any year over year comparisons difficult to make.
The Autumn Term 2021 started with 28 children on role (vs. 21 children prior year) and so an encouraging start to the year. By Spring Term 2022 the numbers had picked up to 39 (vs. 29 prior year) and parents increasingly adding extra sessions to their children’s scheduled hours. By Summer the numbers went up to 46 (44 prior year) and the Preschool finished the Summer Term with 49 children on role. What was truly surprising was that 22 of them were at the 2-year old rate (45%). This compares to only 9 in the Prior Year (20%).
Funding from Bucks County Council is down £3K vs. prior year and this was primarily in the Autumn Term as in the prior year Bucks had awarded a £2K Covid Cleaning fund and given Preschool additional funding to match the prior year. In 2021 the Autumn Term funding was related to children on role, therefore the 28 children stated above. However, with children at Preschool for the full year with no COVID interruptions, the fees from parents was up £24.5K year over year to £40K which is still up vs. a normalised year. This is due to the higher weighting of 2-year olds (charged at 40per/hr more and predominantly unfunded) and parents booking extra sessions.
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In other areas of income, Preschool was awarded a £1.5K apprenticeship grant for one of the Preschool staff members who joined in January 2022. Donations were down year over year as Preschool has moved away from cash in envelopes to requesting parents to donate online. Parents have donated £3.4K which has included donations for activity sessions at a cost of £2.2K which has been netted off against this income, leaving a surplus of donations of £1.2K.
Fundraising was level year over year at £2.7K, the main fundraisers for the year were the Indulgence Evening in November 2021 raising £1K before costs, and Christmas Activities £0.8K. It was great to see the Trike Ride back this year too which raised £0.4K.
Payroll expenses, the largest expense for the preschool at £94K looks to be up a significant amount year over year by £14K but in the prior year the staff significantly reduced their hours and ran with a lower headcount to reduce costs during Covid.
Cost for premises is up year over year by £2.7K. In the Prior Year the Village Hall Committee had reduced the fees temporarily as support. In 2021-22 the fees were at usual levels and on 1[st] June 2022 were increased 2.65%.
In other areas of costs, consumables and catering were up year over year as in the prior year snack couldn’t be offered in the early terms. Staff training could also start to resume back to usual levels. Staff costs were down as last year the staff had new uniform in the Summer Term.
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The Preschool year finished with a surplus of £5.8K (prior year £3.5K), which is an encouraging level showing a good recovery post-Covid and is attributable to the increase in income coupled with the staff still showing very conscious cost control.
Cash in the bank therefore remains at a comfortable level of £25K in the current account to take the Preschool through the first half of the Autumn Term.
The impact of COVID on Preschool in the prior year was concerning but with experienced staff and Preschool Committee these financial results demonstrate that the Preschool has navigated through this tough time and is back showing what a successful Preschool this setting continues to be. The Trustees are now very encouraged for the new academic year and are in no doubt it will continue to go from strength to strength.
Marsh Gibbon Pre-School Income and Expenditure Account to 31st August 2022
| 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 2022 40,433 83,813 1,500 2,650 1,171 360 57 7 129,991 94,000 972 755 530 537 20,788 2,381 1,232 151 496 90 1,172 - - 1,012 42 23 124,181 5,809 |
Year Ended 31st Aug 2021 15,919 87,015 894 2,789 1,697 560 172 248 - |
Variance |
|---|---|---|---|
| 24,515 -3,202 606 -139 -526 -200 -115 -241 0 0 |
|||
| 109,293 | 20,697 | ||
| 80,222 348 284 520 783 18,030 1,844 405 76 772 179 852 28 176 972 293 4 |
13,778 624 471 10 -245 2,759 537 826 74 -276 -89 320 -28 -176 40 -251 19 |
||
| 105,788 | 18,393 | ||
| 3,505 | 2,304 |
Marsh Gibbon Preschool Balance Sheet 31st August 2022
| Marsh Gibbon Preschool Balance Sheet 31st August 2022 |
|
|---|---|
| Year Ended 31st Aug 2022 Current Assets Cash 1,182 Current Account 24,818 Savings Accounts 45,401 National Savings Account 1,042 Fixed Assets Managers Laptop 1,039 Deputy's Laptop 613 Storage Shed 639 Accumulated Depn -2,291 Uniform Stock 136 Debtors 1,770 Prepayment (insurance) 773 75,121 Current Liabilities Prepaid Income 7,789 Accruals 399 Creditors 250 8,438 Net Assets 66,683 Unrestricted and Designated Reserves Redundancy 16,663 Hardship Fund 300 3 months Running costs 31,045 Designated Reserve 48,008 Balance B/F 60,873 Surplus/Deficit for year 5,809 Unrestricted Reserve C/F 66,683 |
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 |
(HARITY COMMISSION FOR ENGLANO AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report MARSH GIBBON PRE SCHOOL On accounts for th• year Charlty no (If any) 31 AUGUST 2022 1033338 S•t out on pages I report to the trustees w my examination of the aLxounts of the above carity Tru ts the year erthAI 31108 12022. Responslbllitits and basls of r•port accounts in accordance wtlh the requirements of the Chariknes Act 2011 AL'). I report in resped of my examination of the Trust's accounts Carried out urKler seclion 145 of the 2011 Act and in carryiry out my examination, I have followed all the applicable Directions given by the Chartty Commission se(ion 1495)(b) of the A( Independent examinerfs Statsmont I have completed my examination. I confinn that no material matters have come to my attenbon in Connection wth the examination (other than that discl¢)J beltyw") 11th gives me cause to believe that in, any material resFeGt.' of the Charities Aci; or the attntS did not a(xx)rd with acxx)unting records: or the accounts did not compty with the applicable requirements conwning the fonn arKI content of accounts set out in Charities {AcCnts and ReFyyts) Regulations 2(XJ8 other than any requirement that the accounts give a Irue and faiv view vthich is not a matter considered as part of an IndeW examination. I have no conM$ and have Come ac¥oss no other matters in conneclion ith the examination to whith attention shwld be drawn in this rep in order to enable a proper understanding of the accounts to be reached. . Pleas8 d*te wr¥ds in t1 brackets rfthey do not apply. Slgn•d: 15 MAY 2023 Name: MELISSA STRANGE Relevant professional qualifi&ition(s) or body FCCA (Reg. No. 0801768) IER Oct 2018
(If •nyl: Addrts GERa4N. WEST El MARSH GIBBON. BICESTER. OX27 OHA Section 8 Disclosure Orbly conplele If the examw needs to hhlIght mater4 mattef5 of cO[n GSve hern brlef detalls of any Items that th• dIsclo. IER Oct 2018