Morley Under Fives Pre-School Treasurer’s Report For the Year ended 31[st] August 2021
Financial results
The accounts for the year show that the Pre-School made a loss of £3873. This loss can be mainly attributed to the COVID 19 pandemic and the significant challenges this presented to the preschool. Reserves of the Pre-School at 31[st] August 2021 were £30,554.92.
Comments on the year
The coronavirus pandemic has had a significant impact on the finances of the pre-school this year. Due to the national lockdowns the preschool and out of school club were closed on a number of occasions.
As there were a number of lockdowns this resulted in the pre-school being open and then closed and then open again. This caused instability in terms of the provision we were able to offer families. Other contributing factors to the unpredictable use of our service include: the legal requirements for COVID isolation and the increase of parents working from home and not always needing the childcare they otherwise would. On occasions the committee took the decision to open despite the numbers being low and consequently not being financially viable in order to encourage a sense of reliability in terms of the childcare service we offer and not to lose business to other providers.
We were able to make use of the job retention scheme and received additional Early Years funding from the Local Authority as compensation for lost income due to the pandemic.
The numbers of children booked in were certainly lower at the beginning of this year. The numbers appear to have increased throughout the year and since returning after the last lockdown in May have picked up significantly.
The effects of the pandemic appear to be settling and the projected numbers for the coming year 2021/22 look to be very healthy.
In April 2021 the National Living Wage increased and consequently all staff wages were increased as well as increasing the preschool and out of school club fees to compensate for the additional cost of wages and general increase in other costs.
For the coming year 2021-22 we expect to have monthly management accounts and will be working towards having a yearly budget in place. Without the regular management accounts and a budget in place it has been difficult to accurately assess our financial position this year. However, the Committee, Manager and Finance Officer have all worked together to ensure that we maximise income and only spend where absolutely necessary.
Looking more closely at the accounts for this year we can see that due to the pandemic there is a significant decrease in income for paid pre-school places as well as funded pre school places. There has been a reduction in spending in a number of key areas such as rent, heat and light/ repairs, renewals and maintenance/ consumables which can be attributed to the pre-school not being open for significant periods. The resources cost is £1287 higher than
last year, however some of these resources will be linked to specific child funding, where the funding received is included in the ‘general’ funding pot.
In September 2021 the pre-school began making full time use of Kashflow accounting software. There has been a transition this year from the old accounting record system to using Kashflow, we have experienced minor teething problems as our Finance Officer, Treasurer and accountant fully familiarise themselves with this system and understand how it was set up. We expect this next year to be smoother and to fully make use of its features including setting up a yearly budget.
We are aware that a significant number of our children who are due to leave in July 2022 are funded. We are looking to review this situation in the new year to ensure that maximise the opportunities to fill spaces to ensure continued success and viability of the pre-school.
Developments for the future
-
Ensure that monthly management accounts are available to be able to accurately assess the pre-schools financial position on a regular basis.
-
Ensure we fully familiarise ourselves with the Kashflow software and use its features to support the Pre-schools accounting procedures.
-
Create a yearly budget which can be used alongside the information produced by our accounting software to ensure we remain within budget. This will support the manager and committee in making decisions about spending.
-
Review pre-school numbers in the new year (2022) to ensure that we maximise occupancy for September 2022.
Gemma Lawrence Treasurer
MORLEY UNDER FIVES PRESCHOOL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021
Kerry Butcher Accountancy Services
Morley Under Fives PreSchool Contents of the Unaudited Accounts For The Year Ended 31 August 2021
| Contents | |
|---|---|
| Page | |
| Business Details | 1 |
| Approval | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
Morley Under Fives PreSchool Business Details For The Year Ended 31 August 2021
Accountants
Kerry Butcher Accountancy Services Exchange House Exchange Street Attleborough NR17 2AB
Page 1
Morley Under Fives PreSchool Accounts Approval Statement For The Year Ended 31 August 2021
I approve these un-audited accounts which comprise a Profit and Loss Account, Balance Sheet and related notes. I acknowledge my responsibility for the accounts including the provision of all the information and explanations necessary for the completion.
Date
Page 2
Morley Under Fives PreSchool Accountant's Report For The Year Ended 31 August 2021
In accordance with the engagement letter dated 27 November 2019, we have prepared the accounts, which comprise the Profit and Loss account, the Balance Sheet and the related notes, from the accounting records, information and explanations provided to us.
This report is made to you in accordance with the terms of our engagement. Our work has been undertaken to enable us to prepare the accounts on your behalf and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than to you, the client, for our work or for this report.
You have approved and acknowledged your responsibility for these accounts.
We have not been instructed to complete an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records, information or explanations you have provided. Therefore we do not express any opinion on the accounts.
Signed
............................................................
Kerry Butcher Accountancy Services Exchange House Exchange Street Attleborough NR17 2AB
Page 3
Morley Under Fives PreSchool Profit and Loss Account For The Year Ended 31 August 2021
| Turnover Pre-school Income Out of School Club Income Funding Fundraising Activities School Lunches Income Cost of Sales Refreshments Resources School Lunch Costs Consumables Wages and salaries GROSS PROFIT Other Operating Income Job retention scheme income Other Income Interest Received Expenditure Rent Rates Heat and Light Premises insurance Repairs, renewals and maintenance Training Accountancy fees Memberships and Subscriptions Outings and Gifts Depreciation Depreciation NET LOSS |
2021 £ £ 6,608 19,573 35,483 490 670 62,824 1,085 2,559 715 403 60,391 65,153 (2,329) 3,955 3,955 1,626 31 1,657 1,766 556 287 664 1,721 279 101 5,374 (3,717) 156 156 (3,873) |
2020 £ £ 9,978 18,541 42,857 495 - 71,871 777 1,272 - 1,113 59,967 63,129 8,742 - - 8,742 152 8,894 2,473 222 897 360 2,340 375 120 6,787 2,107 222 222 1,885 |
2020 £ £ 9,978 18,541 42,857 495 - 71,871 777 1,272 - 1,113 59,967 63,129 8,742 - - 8,742 152 8,894 2,473 222 897 360 2,340 375 120 6,787 2,107 222 222 1,885 |
|---|---|---|---|
| 71,871 63,129 |
|||
| 3,955 | - | ||
| 8,742 - |
|||
| 1,766 556 287 664 1,721 279 101 |
2,473 222 897 360 2,340 375 120 |
||
| 8,742 | |||
| 152 | |||
| 8,894 6,787 |
|||
| 156 | 222 | ||
| 2,107 222 |
|||
| 1,885 |
Page 4
Morley Under Fives PreSchool Balance Sheet As at 31 August 2021
| Notes FIXED ASSETS Tangible Assets 2 CURRENT ASSETS Trade debtors Other Debtors and Prepayments Cash at bank and in hand CURRENT LIABILITIES Other Taxes and Social Security Net wages Rent Creditor Accruals and deferred income NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS CAPITAL ACCOUNT Balance at 1 September 2020 Profit/(Loss) for the period/year Balance Carried Forward 3 |
2021 £ £ 622 - 612 44,759 45,371 279 4,789 1,425 450 6,943 38,428 39,050 39,050 42,923 (3,873) 39,050 |
2021 £ £ 622 - 612 44,759 45,371 279 4,789 1,425 450 6,943 38,428 39,050 39,050 42,923 (3,873) 39,050 |
2020 £ £ 778 1,386 444 50,627 52,457 365 5,146 1,900 2,901 10,312 42,145 42,923 42,923 41,038 1,885 42,923 |
2020 £ £ 778 1,386 444 50,627 52,457 365 5,146 1,900 2,901 10,312 42,145 42,923 42,923 41,038 1,885 42,923 |
|---|---|---|---|---|
| 45,371 279 4,789 1,425 450 |
52,457 365 5,146 1,900 2,901 |
|||
| 6,943 | 10,312 | |||
| 39,050 | 42,923 | |||
| 39,050 | 42,923 | |||
| 42,923 (3,873) |
41,038 1,885 |
|||
| 39,050 | 42,923 |
Page 5
Morley Under Fives PreSchool Notes to the Accounts For The Year Ended 31 August 2021
1. Accounting Policy
These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provides sufficient and relevant information to enable completion of a tax return.
2. Tangible Assets
| . Tangible Assets |
|
|---|---|
| Cost As at 1 September 2020 As at 31 August 2021 Depreciation As at 1 September 2020 Provided during the period As at 31 August 2021 Net Book Value As at 31 August 2021 As at 1 September 2020 |
Computer Equipment £ 1,000 |
| 1,000 | |
| 222 156 |
|
| 378 | |
| 622 | |
| 778 |
Page 6
MORLEY UNDER FIVES PRESCHOOL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2021
Kerry Butcher Accountancy Services
Morley Under Fives PreSchool Contents of the Unaudited Accounts For The Year Ended 31 August 2021
| Contents | |
|---|---|
| Page | |
| Business Details | 1 |
| Approval | 2 |
| Accountant's Report | 3 |
| Profit and Loss Account | 4 |
| Balance Sheet | 5 |
| Notes to the Accounts | 6 |
Morley Under Fives PreSchool Business Details For The Year Ended 31 August 2021
Accountants
Kerry Butcher Accountancy Services Exchange House Exchange Street Attleborough NR17 2AB
Page 1
Morley Under Fives PreSchool Accounts Approval Statement For The Year Ended 31 August 2021
I approve these un-audited accounts which comprise a Profit and Loss Account, Balance Sheet and related notes. I acknowledge my responsibility for the accounts including the provision of all the information and explanations necessary for the completion.
Date
Page 2
Morley Under Fives PreSchool Accountant's Report For The Year Ended 31 August 2021
In accordance with the engagement letter dated 27 November 2019, we have prepared the accounts, which comprise the Profit and Loss account, the Balance Sheet and the related notes, from the accounting records, information and explanations provided to us.
This report is made to you in accordance with the terms of our engagement. Our work has been undertaken to enable us to prepare the accounts on your behalf and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than to you, the client, for our work or for this report.
You have approved and acknowledged your responsibility for these accounts.
We have not been instructed to complete an audit of the accounts. For this reason, we have not verified the accuracy or completeness of the accounting records, information or explanations you have provided. Therefore we do not express any opinion on the accounts.
Signed
............................................................
Kerry Butcher Accountancy Services Exchange House Exchange Street Attleborough NR17 2AB
Page 3
Morley Under Fives PreSchool Profit and Loss Account For The Year Ended 31 August 2021
| Turnover Pre-school Income Out of School Club Income Funding Fundraising Activities School Lunches Income Cost of Sales Refreshments Resources School Lunch Costs Consumables Wages and salaries GROSS PROFIT Other Operating Income Job retention scheme income Other Income Interest Received Expenditure Rent Rates Heat and Light Premises insurance Repairs, renewals and maintenance Training Accountancy fees Memberships and Subscriptions Outings and Gifts Depreciation Depreciation NET LOSS |
2021 £ £ 6,608 19,573 35,483 490 670 62,824 1,085 2,559 715 403 60,391 65,153 (2,329) 3,955 3,955 1,626 31 1,657 1,766 556 287 664 1,721 279 101 5,374 (3,717) 156 156 (3,873) |
2020 £ £ 9,978 18,541 42,857 495 - 71,871 777 1,272 - 1,113 59,967 63,129 8,742 - - 8,742 152 8,894 2,473 222 897 360 2,340 375 120 6,787 2,107 222 222 1,885 |
2020 £ £ 9,978 18,541 42,857 495 - 71,871 777 1,272 - 1,113 59,967 63,129 8,742 - - 8,742 152 8,894 2,473 222 897 360 2,340 375 120 6,787 2,107 222 222 1,885 |
|---|---|---|---|
| 71,871 63,129 |
|||
| 3,955 | - | ||
| 8,742 - |
|||
| 1,766 556 287 664 1,721 279 101 |
2,473 222 897 360 2,340 375 120 |
||
| 8,742 | |||
| 152 | |||
| 8,894 6,787 |
|||
| 156 | 222 | ||
| 2,107 222 |
|||
| 1,885 |
Page 4
Morley Under Fives PreSchool Balance Sheet As at 31 August 2021
| Notes FIXED ASSETS Tangible Assets 2 CURRENT ASSETS Trade debtors Other Debtors and Prepayments Cash at bank and in hand CURRENT LIABILITIES Other Taxes and Social Security Net wages Rent Creditor Accruals and deferred income NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS CAPITAL ACCOUNT Balance at 1 September 2020 Profit/(Loss) for the period/year Balance Carried Forward 3 |
2021 £ £ 622 - 612 44,759 45,371 279 4,789 1,425 450 6,943 38,428 39,050 39,050 42,923 (3,873) 39,050 |
2021 £ £ 622 - 612 44,759 45,371 279 4,789 1,425 450 6,943 38,428 39,050 39,050 42,923 (3,873) 39,050 |
2020 £ £ 778 1,386 444 50,627 52,457 365 5,146 1,900 2,901 10,312 42,145 42,923 42,923 41,038 1,885 42,923 |
2020 £ £ 778 1,386 444 50,627 52,457 365 5,146 1,900 2,901 10,312 42,145 42,923 42,923 41,038 1,885 42,923 |
|---|---|---|---|---|
| 45,371 279 4,789 1,425 450 |
52,457 365 5,146 1,900 2,901 |
|||
| 6,943 | 10,312 | |||
| 39,050 | 42,923 | |||
| 39,050 | 42,923 | |||
| 42,923 (3,873) |
41,038 1,885 |
|||
| 39,050 | 42,923 |
Page 5
Morley Under Fives PreSchool Notes to the Accounts For The Year Ended 31 August 2021
1. Accounting Policy
These unaudited accounts have been completed in accordance with UK Generally Accepted Accounting Practice guidelines and provides sufficient and relevant information to enable completion of a tax return.
2. Tangible Assets
| . Tangible Assets |
|
|---|---|
| Cost As at 1 September 2020 As at 31 August 2021 Depreciation As at 1 September 2020 Provided during the period As at 31 August 2021 Net Book Value As at 31 August 2021 As at 1 September 2020 |
Computer Equipment £ 1,000 |
| 1,000 | |
| 222 156 |
|
| 378 | |
| 622 | |
| 778 |
Page 6