**Morley Under Fives Pre-School Treasurer’s Report For the Year ended 31[st] August 2022** ## **Financial results** The accounts for the year are not yet available. These will be provided to the committee at a later meeting as the report is currently being produced by the accountant. The profit and loss figures provided for the purposes of the annual general meeting can be considered in draft as these will not be confirmed accurate until approved by the accountant. The profit and loss figures currently show a year end loss for the setting of £550.73. Of note in 2022 is that the Preschool received a noticeable uplift in SEN funding and a significant increase on 2021 in projected gross profit for the year. On the reverse, in 2022, the Preschool spent £1984.22 more on expenditures than in 2021. At 31[st] August 2022 there was £29,054.24 in the Preschool savings account. This is the resilience money for the setting. Monies have not been added to or withdrawn from this account in 2022. Please refer to the full profit and loss figures detailed at the end of this report. ## **Comments on the year** In April 2021 the national living wage increased. In line with this the committee reviewed all employees’ wages and the current fee rates for both preschool care and out of school club sessions. As a result, the decision was taken to increase all staf wages in line with the % increase to the national living wage and in line with this to also increase the setting fees. There was a risk attached to these decisions in that if the preschool and out of school club attendance numbers were low then the setting would likely run at a financial loss to pay the staf at the new agreed rates. During the summer term, numbers for breakfast and after school clubs were noted very low but the committee and staf team agreed that the benefits of continuing to ofer wrap around care outweighed the risks of financial loss. This is seen to have impacted the financial position of the setting as the committee predicted. In 2021 there was a plan to present monthly management accounts to the committee. This decision was further considered, and a decision was agreed that 6 monthly management accounts would provide adequate detail required for the preschool. In the between months, the Finance Officer has produced profit and loss details which the committee has found to be informative and sufficient. I would like to thank the Finance Officer for her ongoing consistent approach to this. Moving on from the covid-19 pandemic, in early 2022 there have been some further occasions where the committee have taken the decision to open the setting with low and unpredictable numbers further leading to the risks as already noted and subsequent consequence of financial loss. In addition to this a staf member leaving the setting in the summer term resulted in the setting closing to after school clubs on Fridays. There is currently no plan in place to reinstate this session. In the summer term the Treasurer and Chair were approached by Morley Primary School Headteacher with a view to exploring options of the Preschool being managed by the school. Following a brief staf discussion process and prior to entering a staf and parent consultation process this proposal was suspended on the basis that the staf team were objecting to this proposal. There may be an opportunity for this to be further explored in future should the committee wish to take this forward. The committee and staf team worked together to organise 3 main fundraising events this year. Santa’s Grotto, Easter event and holding a stand at the Morley Beer Festival. Combined these events raised over £1000 for the Preschool resource funds but more importantly gave opportunities to raise the profile of the setting and to interact with the local community. Moving into the autumn term, the Preschool is almost booked to capacity. This is resulting in the setting starting the financial year in a healthy position and will allow the committee and staf team to explore further opportunities to develop. ## **Recommendations for the future** - Treasurer to meet with Finance Officer and Team Manager to agree a monthly and annual budget, using this as an opportunity to project resource spends throughout the year. - Treasurer to agree with Team Manager to discuss and agree any projected maintenance/ improvement works for the year ahead. - Treasurer to be familiar and confident in navigating Kashflow system and to work alongside Finance Officer with this. - To promote the Amazon wish list via the newsletter. - To consider the long-term financial efects of running breakfast clubs and after school clubs at below 50% occupancy. - To consider the inclusion of preschool children to out of school clubs to ofer further wrap around care and support the above. - To revisit opportunities to join St Benets Academy to secure the long-term future of the setting. _Gemma Lawrence_ _Treasurer 2021-2022_ ||**2022**|**2021**| |---|---|---| |**Turnover**||| |Preschool income|7165|6608| |Out of School Club income|21979.
26|19573| |Government Funding|50433.
26|35483| |SEN Funding Incoming|7115.3
8|0| |Fundraising Income|1958.6
8|490| |School Lunches Income|0|670| ||88651.
58|£62,824.
00| |**Cost of Sales**||| |Refreshments|1387.9
6|1085| |Resources|1493.5
2|2559| |School Lunch costs|0|715| |Consumables|497.46|403| |Wages and Salaries|74902.
79|60391| |Fundraising costs|934.94|| |SEN Funding Outgoing|2627.4
2|| ||81844.
09|65153| |**GROSS PROFIT**|6807.4
9|-2329| |**Other Operating Income**||| |Job retention scheme
income|0|3955| |**Other Income**||| |Interest received|0|31| |**Expenditure**||| |Rent, heat and light|2244.7
8|1766| |Premises Insurance||556| |Repairs, renewals and maintenance|430.37|287| |Training|182.5|664| |Recruitment and vetting|101|| |||| |Accountancy fees|1959.3|1721| |Memberships and
Subscriptions|1028.8
1|279| |Computer expenses|1002.9
7|0| |Equipment repairs and
renewals|191.39|| |Telephone costs|25|| |Uniform|21.4|| |Travel|18.45|| |Outings and Gifts|152.25|101| ||7358.2
2|5374| |**Depreciation**||| |Depreciation||156| ## **MORLEY UNDER FIVES PRESCHOOL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2022** Kerry Butcher Accountancy Services **Morley Under Fives PreSchool Contents of the Unaudited Accounts For The Year Ended 31 August 2022** |**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 2022** |**Business**|Morley Pre-School| |---|---| ||Deopham Road| ||Morley St Botolph, Wymondham| ||Norfolk| ||NR18 9TS| |**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 2022** 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. 09/05/2023 Page 2 ## **Morley Under Fives PreSchool Accountant's Report For The Year Ended 31 August 2022** In accordance with the engagement letter dated 01 September 2022, 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 ............................................................ 09/05/2023 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 2022** |**Turnover**
Pre-school Income
Out of School Club Income
Funding
Fundraising Activities
**Cost of Sales**
Refreshments
Resources
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 PROFIT**|**2022**
**£**
**£**
6,306
22,043
54,353
748
83,450
1,388
1,961
1,671
71,339
76,359
7,091
-
-
7,091
10
7,101
1,770
612
206
284
1,791
362
152
5,177
1,924
124
124
1,800|**2021**
**£**
**£**
6,608
19,573
35,483
1,160
62,824
1,085
2,559
1,118
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)|**2021**
**£**
**£**
6,608
19,573
35,483
1,160
62,824
1,085
2,559
1,118
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)| |---|---|---|---| ||||62,824
65,153| ||-|3,955|| ||||(2,329)
3,955| ||1,770
612
206
284
1,791
362
152|1,766
556
287
664
1,721
279
101|| ||||1,626| ||||31| ||||1,657
5,374| ||124|156|| ||||(3,717)
156| ||||| ||||(3,873)| Page 4 ## **Morley Under Fives PreSchool Balance Sheet As at 31 August 2022** |**Notes**
**FIXED ASSETS**
Tangible Assets
**2**
**CURRENT ASSETS**
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 2021
Profit/(Loss) for the period/year
**Balance Carried Forward**|**2022**
**£**
**£**
498
-
41,807
41,807
-
-
951
504
1,455
40,352
40,850
40,850
39,050
1,800
40,850|**2022**
**£**
**£**
498
-
41,807
41,807
-
-
951
504
1,455
40,352
40,850
40,850
39,050
1,800
40,850|**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| |---|---|---|---|---| ||41,807
-
-
951
504||45,371
279
4,789
1,425
450|| ||1,455||6,943|| |||40,850||39,050| |||40,850||39,050| |||39,050
1,800||42,923
(3,873)| |||40,850||39,050| Page 5 ## **Morley Under Fives PreSchool Notes to the Accounts For The Year Ended 31 August 2022** ## 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 2021
As at 31 August 2022
**Depreciation**
As at 1 September 2021
Provided during the period
As at 31 August 2022
**Net Book Value**
As at 31 August 2022
As at 1 September 2021|**Computer**
**Equipment**
**£**
1,000| ||1,000| ||378
124| ||502| ||498| ||622| Page 6 ## **Report to the trustees of Morley Under Fives Pre-School on the Accounts for the Year Ended 31 August 2022 – Charity Number - 1036636 set out on the following pages.** I report to the trustees on my examination of the accounts of Morley Under Fives Pre-School charity number 1036636 (the Charity) for the year ended 31 August 2022. ## **Respective Responsibilities and Basis of Report** The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). I report in respect of my examination of the accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under Section 145 (5)(b) of the Act. ## **Independent Examiners Statement** I have completed my examination. I confirm that no material matters have come to my attention to in connection with the examination which gives me cause to believe that in, any material respect: - accounting records have not been kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. 9 May 2023 Signed .......Kerry Butcher Accountancy Services..... Kerry Butcher Accountancy Services Exchange House Centre Exchange House Attleborough Norfolk NR17 2AB