Kennford Playbox Registered Charity 1034100
Trustees’ Annual Report on the statutory accounts for the year ending 31[st] July 2024.
Total income for this year: £88,901.14 compared to last year at £94,045.13.
The major income components were the funding we received from Devon County Council - £62,999.80 and sales from the non-funded children - £20,672.36 totalling £83,672.16.
The remaining £5228.98 came from Fundraising - £1694.85, uniform sales - £121.50, bank interest - £865.67, Donations - £7.93 and some more funding from DCC that was allocated to the SEN pot - £658.32, PP element - £1441.83 and Deprivation - £438.88.
Further outstanding fees and payments not deposited before July 31[st] 2024 will appear in next year’s accounts.
Total expenditure for this year : £93,094.48 compared to last year at £88,448.23.
The major expenditure components were £80,531.15 on employee costs/NI/Pensions, £4060.00 on rent, £1007.41 on computer software (Dropbox upgrade, Tapestry programme, Microsoft 365 renewal) and £1,485.89 on our insurance.
Operating profit/loss: For this financial year we have an operating loss of £4,193.34 compared to last year’s operating profit of £5,596.90.
Fees: Devon County Council Funding for 2-year-olds increased by £1.76 per hour to £7.10 in April 2024. Funding for 3- and 4-year-olds increased by 66p per hour to £5.22 in April 2024.
We increased our fees in September 2023 from £5.46 to £6.01 for non-funded 2-year-olds and from £4.81 to £5.29 for non-funded 3- and 4-year-olds due to cost-of-living increase and our expenses rising.
Fundraising and Donations: A total of £1694.85 was raised by fundraising events throughout the year such as Teignbridge Lottery, Seven Stars quiz night, Halloween party, Christmas 2023 party, Christmas raffle, Christmas Wreath making, Toy sale, Easter bake sale, Plant Sale, Ali’s Great West Run, Bags to School, Seven Stars Boxing day charity auction, end of term party, cake sale and raffle. The money raised has helped to pay for our nonessential activities such as our egg hatching program and animal encounters and dance sessions.
Redundancy: The staff redundancy provision in the event of playbox closing is recalculated at the end of each financial year to calculate redundancy as well as sufficient notice period for each member of staff. The end of year balance for this account was £21,238.51.
Comments: With the ongoing cost of living increases, minimum wage increases, and more children being funded we will have to heavily rely on fundraising to continue to provide the high level of service.
This report was created by Jessica Price (Finance Officer) and signed off by the committee.