## **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. . 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. . 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 c*arity 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 att￿ntS 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 {AcC￿nts 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 con￿M$ 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 h￿hlIght mater￿4 mattef5 of cO￿[n GSve hern brlef detalls of any Items that th• dIsclo￿. IER Oct 2018