dy of the wy '• Pre-school 'ty Member of the Pre-school Learning Alliance Annual Report and Financial Statements 2019-2020 Registered Charity Mjmber: 1033527 Our Lady of the Wayside Pre-school Annual Report and Financial Statements 201912020 Trust particulars Trustee's Annual Report (including Financial Review & Review of Major Risks) Statement of Financial Actsvities Bank Reconciliation Balan￿ Sheet Independent Examinerfs Report R¢gist¢red Charity No: 1033527 Our Lady of the Wayside Pre-school Year ended 31" August 2019 Trustees and Officers Hayley Jennings Chairperson l Trustee Hayley Jennings Treasurerttrustee (overseeing the work of the Finance offi￿r> Anna Perfect Vlce-chairperson￿rUStee Kathryn Taylor Secretary￿rUstee Committee Members: Audrey Montgomery, Elaine Heaty. Helen Jordan. Laura Fitzpatrick, Natalie Bartlett Independent Examiner Hannah O'Brien Bank HSBC PIC 275 Stratford Road Shirley. Solihull B90 3AP Headquarters Our Lady of the Wayside Parish Hall 566 Stratford Road Shirley, Solihull B90 4AY Telephone Number. Email Address: Website: Twitter Facebook 07474 743744 ourladyofthewaysidepreschool@gmail.com OLOWPreschool.com #OLOWPre OLOWPreschool Ofsted Registration Number. 250105 Member of the Early Years Allian (previously knovm as the Pr&School Leaming Allian￿) Employers, Liability Insurers: Royal & Sun Allian￿ Insurance plc Poge I Registered Clwity No: 1033527 Our Lady of the Wayside Pre-school Trustee's Annual Report st Year End 31 August 2020 Structure, Governance & Management Pre-school Learning Allian￿ Constitution adopted 24 June 1993 and amended 17° July 2011. Constff(uted by a committee of at least 6 offi￿r5. All committee members are elected during the Annual General Meeting by parents and guardians of children attending the Pre-school. (Last AGM Thursday 7 November 2019). An enhanced DBS check {fomially known as CRB) is undertaken for all new trustees, officers, staff, students and volunteers. In addition to this all Committee members must register for the update sep4ice and complete an EY2 online wth Ofsted. In line with changes to Ofsted policies and procedures our elected Pre-school Manager, Ann Marie Brady is now the Nominated Person for our setting and this is registered wth Ofsted. They are notffied of any changes in Circumstances immediately. Objectives and Activities of our Group (Public Benefit): Our objective is to enhance the development and education of children under statutory school age by encouraging parentslcarers to understand and provide for the needs of their thildren through communty groups. Our aim is to provide a happy environment in vthich the children feel safe and secure. Children should be able to leam, discover and experiment through play and structured leaming. At all times the children wll be encouraged to develop their skills to their full potential in all a￿a$ of the Earty Years Foundation Stage curriculum. All families are v￿lCoMed and respected for their ethniaty. cuknre or religion. home language, family background. special educational needs, disability, gender or abilty. Achievements and Perforniance: The biggest event to affed Pre-school this finanaal year and the forthcoming year is the Coronavirus Pandemic. Pre-school was dosed from Monday 23rd Marth and re-opened on Thursday 3rd September 2020. Our Lady of the Wayside RC Church suspended our rent payment for Summer Temi to support us during the pandemic. This totalled £850.00. We continued lo receive 2.3 & 4 year old govemment funding during the lockdown period, thus negating the need to furfough staff. Pre-school session fees and consumables fees W￿re not charged during lockdown. This considerably impacted upon our income by £5.756. Page 2 Registered Charity No: 1033527 During the lockdown period our team conttnued to complete online training courses through Educare. These coutses in¢luded", well-being durtng the Coronavirus OLrtbreak. effective safeguarding practi￿, infection prevention & control. supporting early language development. supporting children wth SEND, improving Child￿n.$ leaming through play. In addition staff read stories on Facebook and added regular updates. Our equipment and resources V￿re also audtled. This year we W￿re fortunate to receive £800 from the C¢XiP Central England Communty D5vidend FurKI. This grant was to purchase 2 wooden picnic tables to enable children to enjoy snack time and small work groups OLrtdoors. We have also purchase a small wooden grow house to support our gardening with children scheme. Asda's green token scheme awarded our Pre-school £200.00 and this will be used to buy wooden small world resour(w. £521 was spent on the clearing and development of our shed area. Old, wooden sheds were replaced vthh one large durable shed, which is able to securely house all of our outdoor resources. The clearing of this area will allow the installation of our new wooden picnic benches and extends our garden a￿a signtficantly. We have continued to enhan￿ our na￿ra1 garden. Fundraising by our hard working commitiee enabled us to buy a wooden Maths sorting shelves. Our MilEennium Trust Fund application for STEM resources has been successful and funds should be received during our Autumn 2020 temi. A donation enabled us to completely refurbish our reading comer v￿th a new book storage unit and seating. Two additional mobile handwashing stations have been purchased to enable us to follow govemment advice" encouraging children to participate in regular hand washing roLrtines,' enabling us to focus on hygiene. Our occupancy rate for 2019120 was 11)O%. However, the fear and uncertainty of the Goronavirus has adversely affected our admissions for 2020121, which are down by 33%. We are V￿￿KIng hard to address this via our new v￿bsIte and Fa￿bOok and Twitter pages. From September 2019 V￿ now longer operate our Nursery Wraparound servi￿. However. we do have a mix of Nursery age and Pre-school age children. We continue to work closely with the local Family Infomiation SeNice to support families who meet the govemment's criteria for 2 year old funding. We also continue to support families who are not eligible for SMBC funding. but are experiencing finaneial difficajlties, whith would mean without our support their children would be unable to attend our Pre-school. Our electronic joumals which were launched in January 2019, have proved successful and promote our partnership with parents, who have immediate access to their child's leaming In addition they are able to contribute, by leaving comments and also upload their o¥•m observations from home. Our website which was launched in Spring 2012, was no longer supported by our website provider from 30 June 2020 and during lockdown our new websrte was launched. This ts still being developed. Our Facebook and Twitter pages allow us to promote our services to our communities parents and carer5. We have 176 fiiends on Fa￿book and 101 followers on Twrtter. In April 2016 we offered our staff the OppO￿nty to join our new wortplace pension scheme which is operated through NEST (National Employment Savings Trust). The scheme is open to all staff at any time. Page 3 Registered Charity No: 1033527 Financial Review (including reserves policy): At the end of each financial year, annual accounts are produced in the fomi of re￿iptS and payments, induding a statement of assets and liabilities. Projections for the coming year are based upon the previous accounts which provide the basis for the annual budget. which is reviewed and updated regularly Ihroughout the year. A separate reserve account is maintained for contingency purposes. to cover unforeseen events andlor fluctuations in income & expendbture. Following bank interest being applied totslling £27.52 during the year, these reseNes currently stand at £17,339.78 It is our intention to work towards gradually increasing these reserves further during the coming years to ensure that our group corrtinues ar¢d has financial stability. Our aim remains to increase our reserves to £19.500. which equates to approximately 3 month's running costslexpenses. This will ensure that there is always sufficient workn.ng capital for the efficient running of our setting. Our reserves policy will ensure the group's conttnued financial wabilty., covenng periods when the setting's income may drop below average for example, due to a late grant, temporary drop in child numbers. temporary dosure due to a pandemic or cover unexpected expenditure. This year we were faced the added challenge of Covid-19. Our Prtrschool closed on Monday 23 March 2020 due to Covid-19 restricttons and did not re-open until Wednesday 2 September 2020. During this time, we W￿re fortunate to receive a rent suspension from the church. This reduced our outgoings by £850 and we are grateful for their support. Govemment funding for funded 2.3 & 4 year olds continued during this time, which meant that our staff were not fudoughed. We have submitted and will continue to submit a number of aF)plications to Charitable TnJstslFoundations to support the purchase of new resources and equipment. This year we have submitted 7 applications and whilst. one VRS unsuccessful, 3 application successful and 3 are pending. There are a number of s¢hemes available and the group will continue to maximise our efforts to apply for funding. In particular our applications for funding will be ￿ntred around our Outdoor Classroom Garden project.. All of our fees have been revie￿Ed. We have filled 700A of our sessions for 2020121 and the filling of our vacancies continues to be our priority. Review of Ma or Risks A significant risk to our chartty is and will continue to the rates of funding offered by the govemment Currently we receive £3.98 per hour per 314 year old child, which does not cover our outgoings and this only increased from £3.90 from Spring 2020. In light of this we have increased our daity consumables to £2.10 Fer child. per day to assist the offset of this loss. We will conts'nue to review this. A full risk assessment was ¢2rried out during the Summer break in conjunction with recommendations from SMBC, our insurers and the Eady Years Alliance. An additional Covid-19 risk assessment was camed out wtth the Parish Committee. Page 4 Registered Charity No: 1033527 Our Lady of the Wayside Pre-school Statement of Financial Activities Year ended 31 August 2020 KNCOME 2019120 2018119 2017118 Nursery Wraparound Fees Pr¢-S¢hool Fe¢8 SMBC Funding Deposits Admin & Registratioll Fees Donations & Fund Raising Bank Interest Received Pre-school Annual Trip Uniform Sales Miscellaneous £2,843.85 5531.30 £27008.60 £1280.00 £1,950.00 £3,101.06 £32.72 88.00 £768.90 £323.99 £16230.05 £17.767.95 £34,410.36 £930.00 £1,195.IKI £12,012.87 £9.05 £162.00 £502.00 £116.19 £16,669.75 £53,616.54 £720.00 £1,050.00 £2,781.89 £27.64 £0.00 £596.25 33.43 TOTAL INCOME £75.795SO £7L028A2 £83535.47 EXPENDrrii]iE Waues Totsl Training Rent Resources & EquipDJent Insurance, Membershipg DBS & Phon¢s Catering & Cleaning Fundraising Costs Day Trip Staff & Childrens Unifonn Garden Refurblslllnent Miscellaneous £60560.55 £1,1soJi £1,680.00 £5.159.17 £2,167.17 £59,586.74 £1,804.74 £2,500.1)O £4.795.18 £1,709.93 £57,050.83 £372.96 £2,500.00 £2,718.06 £IJ40.13 £751J4 £44.02 £991.18 £21.95 £130.40 £lJ21.10 £4,14&77 £633.73 £875.99 £115.05 £128.00 £65.40 £12,738Jl £93.25 £502.50 £537.04 £322Jl TOTAL EXPENDrruRE £72J74.41 £77,641.72 £77,997.98 SUrplu￿{Derl¢Rt) £2.921.1)9 £3,61330 £5537.49 Page 5 Registered CEwity No: 1033527 Our Lady of the Wayside Pre-school Bank Reconciliation Year Ended 31" August 2020 Business Money Manager AccounL" Opening Balance 01109119 £17,312.26 Interest Received Funds Transfers In Funds Transfers Out £27.52 £0.00 £0.00 Closing Balance 31108r20 £17,339.78 Treasurer Account: Opening Balan￿ 01109119 £15.197.29 Add Receipts Less Payments £75.767.98 £72,874.41 Cheques written bui not presented Cheques 2018119 processed 2019120 £0.00 £0.00 Funds Transfers In Funds Transfers Out £0.00 £0.00 Closing Balan￿ 31108119 £18,090.86 Summary: Business Money Manager Account £17,339.78 Treasurer Account £18,090.96 Bank Total £35.430.64 Page 6 Registered Charity No: 1033527 Our Lady of the Wayside Pre-school Balance Sheet Year Ended 31" August 2020 2019120 Current Assets: £35,430.64 £0.00 Cash at Bank & In Hand Debtors £35,430.64 Current Liabilities Creditors £0.00 £0.00 Net Assets Represented by: General Funds £18,090.86 Restricted Funds £17,339.76 £35,430.64 Approved on behalf of the Trustees: 1 6103 Jaoao Annette McHale (Finan￿ Officer) Date O£A) Hayley Jenn gs (Chairpe Date Page 7 Register¢d Charity No: 1033527 Our Lady of the Wayside Pre-school Independent Examinerfs Report I report to the trustees on my examination of the accounts of Our Lady of the st Wayside Pr&School (the Trust) for the year ended 31 August 2020. Respective responsibilities of trustees & examiner As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordan￿ with the requirements of the Charf(ies Act 2011. ('the Act,). Independent examinerfs ststement In the course of my examinats"on, I confiNn that no material matters have come to my attention in connection wth the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act-. or 2. The accounts do not accord with those records. I have no COn￿mS 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: J- Name". Hannah O'Brien Relevant Professional Qualification: Associalion of Accounting Technicians Address: 232 Bills Lane, Shirfey B90 2PP Page 8 Registered Cbarity No: 1033527