dy of the 'w Pre-school 'ty Member of the Pre-school Leorning Alliance Annual Report and Financial Statements 2021 2022 Registered Charity Wer: 1033527 Our Lady of the Wayside Pre-school Annual Report and Financial Statements 202112022 Trust particulars Trustee's Annual Report (including Financial Review & Review of Major Risks) Statement of Financial Activities Bank Reconciliation Balan￿ Sheet Independent Examinerfs Report Regist¢red Charity No: 1033527 Our Lady of the Wayside Pre-school Year ended 31st August 2022 Trustees and Officers All￿ Kent Chairperson l Trustee TreaSurer￿rUStee (overseeing the work of the Finan offi￿r) All￿ Kent Laura Day Katrina Ewing wi￿chaIrperSOnrrrUStee Secretaryffrustee Committee Members: Joanne Waddingham. Kirsty Mott and Jen Davies Independent Examiner Kevin Perfect 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 AlliancE (previously known as the Pr&School Leaming Allian￿) Employers, Liability Insurers: Royal & Sun Allian￿ Insurance plc Pa9e I R¢gist¢r¢d CP￿rIty No: 1033527 Our Lady of the Wayside Pre-school Trustse's Annual Report Year End 31st August 2022 Structure, Governance & Management Pre-school Leaming Jljliance Constitution adopted 24th June 1993 and amended 1PJuly2011. Constrtuted by a committee of at least 6 officer5. All committee mernbers are elected during the Annual General Meeting by parents and guardians of children attending the Pre-school. (Last AGM Thursday 25th NovemLEr 20217.00pm in person. Previously 2 AGM'S held via Zoom). An enhanced DBS check (foThally known as CRB) is undertaken for all new trustees, officers, staff. students and volunteers. Staff now register for the update service, when their DBS is due for renewal and it is our Pre-school Manager's responsibility to check that they ar8 up to date and in order. In addition to this all Committee Mern￿rS must register for the update Servi￿ and complete an EY2 online with Ofsted. In Sine 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 with Otsted. They are notified of any Ghanges in circUmstan￿S immediately. Objectives and Aclivities of our Group (Public Benefit): Our objectNe 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 children through communtty groups. Our aim is to provide a happy environment in which the children feel safe and secure. Children should be able to leam, dI￿ver and experiment through play and structured leaming. At all times the children will be encouraged to develop their skills to their full potential in all areas of the Early Years Foundation Stage curriculum (including recent changes which came into force from 1 St septerntr￿r 2021). All families are welcomed and respected for their ethnicity, culture or religion, home language, family background, special educational needs, disability. gender or abilrty- Achievements and Perfomiance: Thè Coronavirus Pandemic conlinued to impad upon our PrtrSchcN)I wtth reduced admissions and staff absences. which led to an unprecedented Pre- School closure for 3 days . Prtrschool was dosed from Wednesday 11 May and re-opened on Monday 16 May 2022. We have experienced reduced admission numbers and a reduction in the number of sessions each children attended each week, in part due to cost of living rises. This had a negative impact upon our income. Pagc 2 RegAStered Cl)arity No: 1033527 Funding for funded 2,3 and 4 year olds increased from 1st April 2022 by 3.80A, 21p per hour for 2 year olds and 17 for 3 and 4 year olds. This was not in line with the Consumer Prices Index (CPI) which rose by 10.1% in the 12 months up to July 2022 or Minimum Wage inLTeases which stOC*￿ at 6.6% for worf(ers age 23 and over. Our team have corrtinued to complete online training packages via Educare to keep their knowledge CU￿ent. In addition to this 3 members of staff renewed and completed Paediatric first aid training this year. We have continued to apply for exiemal funding to buy new equipment and resources to engage our Pre-school children. encouraging them to leam through play. In September 2021, Becketts Fann Communty Fund provided £461.18 for us to purchase a large woc*Jen bird feeding station with integrated planter and a variety of bird food. Step Ahead Dan￿ Companys Holiday Club continue to support us regular and donations for 2021122 totalled £393 allowing us to buy a wooden bridge for our natural garden and many other new natural resources. In November Amold Clark's Communty Fund Trust's donation of £600 enabled us to buy a Library style folding bookcase and a weaSth of books covering the natural wodd, recyding. the weather etc. We launch our reading initiative and children can th005e a tM)ok to tske hotne for a week to read with their families. Bellway Homes donation of £250.00 in May. enabled us to buy fruit and vegetable plants. together with gardening equipment. The children enjoying tending the plants and watching them grow. West Bromwich Building Society donation is £560.00 bought an abundan￿ of explorer resources for our P￿Sth0o1 thildren to enjoy with their forest sthool style activtlies. Our occupancy rate for 2021122 averaged 69.3%. This is inline with other similar settings as published by the Early Years Alliance. From September 2019 we now longer operate our Nursery Wraparound service. However. we do have a mix of Nursery age and Pre-school age children. During 2021122 31% of our children were of Nursery age. We continue to work Glosely wrth the local Family Information servi￿ 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 financial difficulties, whith would mean wrthout our support their thildren would tE unable to attend our Pre-school. Our electronic joumals which were launched in January 2019, have proved suc￿Ssful and promote our partnership vthh parents, who have immediate access to their child's leaming. In addition they are able to contribute, by leaving comments and also upload their own observations from home. New features and frjnctionalty are added to increase interaction each year. Our website which was launched in Spring 2012, was no longer supported by our websTte provider. From 30th June 2020 and during lockdown our new website was launched. During 2021122 our website received 2,779 viev from 986 visitors. This equates to 2.8 view per visitor. Our Facebook and Twttter pages allow us to promote our services to our local communrties. parents and carers. We have 203 friends on Facebook and 151 followers on Twltter. We aim to post at least twi￿ a wee Page 3 Registered cP￿rity No: 1033527 In April 2016 we offered our staff the opportunty to join our new workplace pension sGheme which is operated through NEST {National Employment Savings Trust). The scheme is open to all staff at any time and cuffently 4 staff members have joined. During our Spring Term Ihe children enjoyed weekly dance and exercise classes. This was a huge success and something we hope to build upon. Financial Review (including reserves policy): At the end of each finaniial year, annual accourrts are produced in the forn of receipts and payments. induding a statement of assets and liabilities. Projections for the coming year are based upon Ihe previous accounts which provide the basis for the annual budget, which is reviewed and updated regularly throughout the year. A separate resetve account is maintained for contingency purposes, to cover unforeseen events andlor fluctuations in income & expendrture. Foll0v￿ng bank interest being applied totalling £6.36 during the year. these reserves cU￿entlY stand at £12,347.88 Whilst is our intention to work towards gradually increasing these reserves further during the coming years to ensure that our group ￿ntInueS and has financial stabilty, £5,000.00 was transferred from these reserves to our Pre-school current account. This was to cover the deficit of expenditure over income for 2021122. Our aim remains lo increase our resep4es to £17.500. which equates to approximately 3 month's running costslexpenses. This will ensure that there akways sufficient worktng capital for the efficient running of our setting. Our reserves policy will ensure the group's continued financial viabilty.. covering 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. We have submitted and will continue to submit a number of applil￿r0nS to Charitable TrustslFoundations to support the purchase of new resour￿ and equipment. This year we have Submitted 7 applications. A number are still ongoing. However, 4 applications were Suc￿sSfUl. There are a number of schemes available and the group will conts-nue to maximise our efforts to apply forfunding. In particular our applications for funding will be ￿ntred around our OLrtdoor Classroom Garden project. All of our fees have been reviewed. We have filled just under 60% of our sessions for 2022123 and the filling of our vacancies continues to be our priorrty. We have re￿iVed a number of requests for visrts of our setting during September. Page4 Registered Charity No: 1033527 Review of Ma or Risks A significant risk to our tharity is and *ill conknnue to be the rates of funding offered by the govemmenl. Currently we receive £4.21 per hour per 314 year old child, which does not cover our outgoings and this only increased from £4.04 from Spnng 2022. In light of this we have increased our daily consumables to £2.50 per child, FEr day to assist the offset of this loss. We will continue to review this. The current cost of living crisis poses a signfficant risk to the group, wtth an expected rise for Ihe national minimum wage of 9.5°h due to be annoUn￿d shortly by the chancellor, fuel price increases and infiation ojrrently standing at 9.6%. Our current losses, although not a threat to short-temi financial securtty, coupled with inflationary pressures cannot be Sustain￿ in the m&Jium to long temi and must be addressed. A full risk assessment vtss camed out during the Summer break in conjunction with recommendations from SMBC, our insurers and the Eady Years Alliance. We are Cu￿entlY working wtth the Parish to estsblish ￿ fea5ibilty of increasing our hours to address fall admissions_ Page 5 Registered Charity No: 1033527 Our Lady of the Wayside Pre-school statement of Financial Activities Year ended 31st August 2022 COME 2021122 2020r21 2019120 Pre-sehool Fees SMBC Funding Deposils Admin & Registration Fees Donations & Fund Raising Bank Interest Received Pre-school Annual Trip Uniforni Sales Mis¢¢llaneou$ £28,881.00 £26243.02 £0.00 £870.00 £3,924.43 £636 £278.50 £69725 £18,628.95 £43,840.26 £480.00 £850.00 £6,650.84 £1.74 £0.00 £432.00 £55129 £16,669.75 £53,616.54 £720.00 £1,050.00 £2,781.89 £27.64 £0.00 £596.25 £333.43 TOTAL INCOME £60902.56 £71,435.08 £75,795.50 EXPENDrruRE Wages Total Training Rent Resources & EquipmeDt Insurance, Membersbipg DBS & Phones Cattrints & cl￿ning Fundraising Costs Day Trip Staff & Childrens Uniforni Garden Refurbishment Miscellaneous £57,658.52 £584.06 £2530.(M) £4038.70 £1,761J4 £60,IM12.61 £348.61 £2530.00 £10,020.86 £1397.62 £60,560.55 £1,150.31 £1,680.00 £5,159.17 £2,167.17 £918.10 £25.00 £154.55 £323JO £60.43 £600.94 £725.82 £16.99 £0.00 £165.00 £0.00 £57530 £751.34 £44.02 £0.00 £502.50 £537.1)4 £322.31 TOTAL EXPENDITUR £69,491.94 £76282.81 £72*74.41 Surylusl(Deficit) -£858938 -£4047.73 £2,921.09 Page 6 R¢gisteTed Clwity No: 1033527 Our Lady of the Wa side Pre-school Bank Reconciliation Year Ended 31st August 2022 Business Money Manager Account Opening Balance 01109r21 £17,341.52 Interest Received Funds Transfers In Funds Transfers Out £6.36 £0.00 £5,000.00 Closing Balance 31108122 £12,347.88 Treasurer Account Opening Balan￿ 01109r21 £13,200.45 Add R￿lpt5 Less Payments £60,896.20 £69.491.94 Cheques writlen but not presented Cheques 2020121 processed 2021122 £0.00 £0.00 Funds Transfers In Funds Transfers Out £5.000.00 £0.00 Closing Balance 31108r22 £9,604.71 Summary: Business Money Manager Account £12,347.88 Treasurer Account £9,604.71 Bank Totsl £21,952.59 Page 7 R¢gistered Charity No: 1033527 Our Lady ofthe Wa side Pre-school Balance Sheet Year Ended 31st August 2022 2021122 Current Assets: £21,952.59 £0.00 Cash at Bank & In Hand Debtors £21.952.99 Current Liabilities Creditors £0.00 £0.00 Net Assets Represented by: General Funds £9,604.71 Restricted Funds £12,347.88 £21.952.59 Approved on behalf of the Trustees: J.0 o.l&cfraX Annette McHale (Finan￿ Offiw) Date 1911112*￿2 Alice Kent (Chairperson) Date Page 8 Registered Charity No: 103)527