2022-08-31-accounts - Arden Grove Pre-School

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ARDEN GROVE PRESCHOOL

REPORT OF THE COMMITTEE FOR THE YEAR ENDED 31 AUGUST 2022

The committee presents its report and audited financial statements for the year ended 31 August 2022

Reference and Administrative Information

Charity Name: Arden Grove Preschool Charity registration number: 1037079 Operational address: Cottinghams Drive Hellesdon Norwich Norfolk NR6 6QA

Trustees (Committee)

Helen Robinson Chairperson Gemma Baxter Secretary Hayley Thompson Treasurer

Claire Willingham Connie Gooch Charlotte Simms Charlene Pinfold Sam Lincoln Laura Kelly Janine Coulson Melissa Willmott-Taylor

Supervisor of Pre School

E Stevens

Bankers

Natwest

Independent Examiner

L Douglass 96 Drayton Wood Road Norwich NR6 5BZ

Structure, Governance and Management

Governing Document

Arden Grove Preschool was established in January 1994 at Arden Grove Infant School and was registered as a charity on 28[th] April 1994 and is governed by a constitution adopted on the 15[th] Day of May 2008

Recruitment and Appointment of Committee Members

At least 60% of the committee, including co-opted members, must be parents or guardians of children in the Preschool. In the event that 60% cannot be achieved, then affiliate members may be elected. The committee members are elected for a period of one year at the annual general meeting. Retiring committee members are eligible for re-election unless they have already served as a committee member for 10 consecutive years.

The committee members were all elected at the AGM in Autumn Term 2021.

Committee Members Induction and Training

New committee members are encouraged to read the charity’s constitution, the last financial statements of the charity and the Charity Commission guidance, CC3, ‘The Essential Trustee’.

Risk Management

The committee have reviewed and identified the risks that the Pre School faces and have systems to monitor and control these risks to mitigate any impact they may have on the Preschool in the future. These systems are reviewed on a regular basis.

Organisational Structure

The charity has a committee consisting of Chair, Secretary and Treasurer and not less than 4 nor more than 9 elected members. If the committee so decides, it may have not more than 3 members co-opted by the committee. At least two-thirds of the committee members shall at the time of election be parents or guardians of children in the Pre School. The committee meets half termly and the day to day running of the Pre School rests with the Pre School Supervisor, as assisted by 5 members of staff.

Objectives and Activities

The charity’s objects are to enhance the development and education of children below compulsory school age by providing safe and satisfying play, in which the parents have the right to take part and encouraging other charitable activities through which parents may help the children.

Achievements and Performance

We continue to be a thriving Pre School, full and with a healthy waiting list. We are fortunate to have a strong established management committee and generally are well resourced.

Staff continue to undertake vocational training in Early Years and also in their areas of responsibility. We are linking more with Arden Grove Infant and Nursery School’s Foundation Stage team to further improve the outside environment for all children. Transitions between Pre-school and nursery have been much improved this year enabling children to start their time in nursery happy and confident in the new environment. We continue to work with outside agencies to support our children’s well-being and individual needs. The canopy has been purchased and was installed in February 2022. This has provided some much needed coverage for children play outside who do not wish to be in the rain and wind.

The pressures around our finances continue, with further successive increases to the minimum wage compounded by insufficient government funding and overall increase in our costs, this year was the first time that we have eaten into our reserves.

We cannot continue to erode our reserves and as such we will really need to focus on fundraising and bringing in voluntary contributions, both significantly contribute to our day to day running costs and keep us secure financially.

As a management committee we do not want staff to worry about finances but be able to concentrate fully on providing our children with an amazing pre-school experience.

Our fundraising efforts are back on track post pandemic and as a result we will ensure that we remain financially stable.

Public Benefit

The Pre School is open to all children, without any catchment area, nationality, religious or other restriction, from when they are two years and three months old until they are able to enter infant school. Early Years funding is available for all children from the term following their third birthday. 2 year old funded place are available to those families meeting the criteria.

Financial Review

There was a net increase in general funds of £4,965.55

There was a decrease in the designated fundraising fund of £1,647.41 as money was released from this account to pay for the canopy.

Reserves Policy

It is the policy of the committee to maintain general funds at a level that equates to three months resources expended, a figure of approximately £14,500. This provides sufficient funds to cover salaries and other costs incurred in the event of a temporary reduction in fee or other income.

Free reserves in the general fund at the year-end amounted to £28,157.88.

£4,909.16 is ring fenced in the reserve account to pay for statutory maternity pay following advance payment from HMRC

Designated funds resulting from parental fundraising amounting to £2,739.40 are held in the fundraising fund to provide new equipment during each school year.

Plans for the Future

We are continuing to improve out outside area. We are developing areas for small world and imaginative play experiences in our outside space. These will include using plants and other natural resources as well as small world figures. We would also like to install some bench seating and planters create a restful, sensory space for children and adults. We have applied for a grant for this project.

We are glad to be able to welcome back students and young adults who wish to train in Early Years. We have taken on an apprentice this year who we will mentor through her award. We also work with City College to offer placements to students wishing to enter the Early Years workforce.

Approved by the Committee on and signed on its behalf by:

Helen Robinson

Chair of Committee.

Arden Grove Pre-School

Income and Expenditure Account

For the Year Ended Notes Income: Fees NCC Funding CJRS Fundraising Milk Refunds Interest NCC Smarter Working Grant Donations SMP Advance Funding SSP Reclaim Funding Expenditure: Staff Wages Rent Repairs & Renewals Fruit/Milk - Sundries Consumables Equipment Insurance Memberships/Subscriptions Accountancy Fees Staff Training Other Staff Costs Admin/Office supplies Fundraising Costs Excess/(shortfall) of income over expenditure Bank Balance B/Fwd Petty Cash Bank Balance C/Fwd Petty Cash Represented by: Current A/C - 08842159 Fundraising A/C -68354657 Reserve A/C - 69897433 Petty Cash as at 31/08		31/08/2022 31/08/2021 £ £ 21452.33 21404.86 31209.35 30746.35 0.00 520.03 2338.91 1425.90 148.64 129.43 14.39 2.96 500.00 0.00 0.00 666.68 5945.16 0.00 134.89 0.00 61743.67 54896.21 43457.21 39981.36 2613.00 2470.00 30.00 457.28 898.02 967.73 664.76 977.75 5626.04 907.98 717.00 576.05 303.60 303.60 967.50 894.00 246.00 409.00 0.00 506.26 978.90 1358.13 78.09 352.71 56580.12 50161.85 5163.55 4734.36 32982.58 28278.22 0.00 0.00 32982.58 28278.22 37948.13 32982.58 0.00 0.00 37948.13 32982.58 2141.69 2164.62 2739.40 4386.81 33067.04 26431.15 0.00 0.00 37948.13 32982.58	Variance £ -47.47 -463.00 520.03 -913.01 -19.21 -11.43 -500.00 666.68 -5945.16 -134.89
			-6847.46 -3475.85 -143.00 427.28 69.71 312.99 -4718.06 -140.95 0.00 -73.50 163.00 506.26 379.23 274.62
			-6418.27

Accounts Independently checked by: Lacey Douglass

Date: 09/09/2022

Notes

SMP Advance Funding £5945.16 Received from HMRC - £4909.16 ring fenced for 2022/2023 year within reserve A/C NCC Funding £500.00 Smarter Working Grant received for WellComm SALT system

INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ARDEN GROVE PRESCHOOL

YEAR ENDED 31 AUGUST 2022

I report on the accounts of Arden Grove Pre-School for the year ended 31 August 2022

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to

examine the accounts under section 145 of the 2011 Act;
follow the procedures laid down in the general Directions given by the Charity Commission.
state whether particular matters have come to my attention

Basis of independent examiner’s report

My examination was carried out in accordance with general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘’true and fair view’’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination no matter has come to my attention:

(1) Which gives me reasonable cause to believe that in any material respect the requirements:
to keep accounting records in accordance with Section 130 of the 2011 Act; and
To prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

Have not been met; or

(2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Lacey Douglass 96 Drayton Wood Road Hellesdon Norwich NR6 5BZ

9[th] September 2022

Financial Report for Year to 31[st] August 2022

A further strong year for the pre-school. Fees and funding remain stable consistent to 2021. Fee’s £21,452.33 (2021 - £21,404.86). Funding £31,209.35 (2021 - £30,746.35)

Increase in funding rates in April 2022 were enough to cover the National Living Wage rise only and not staff on highly pay rates. 3/4 funding increased to £4.08 per hour (2021 - £3.98), 2-year funding increased to £5.50 per hour (2021 - £5.34)

The preschool had a surplus of £4965.55 as at 31.08.22 (2021 £4,704.36 surplus).

There is £4,909.16 ring fenced within reserves for maternity pay which was received in advance from HMRC in July.

If this value is removed from the surplus, the running surplus of the preschool in 2022 is £56.30

The preschool has invested in £5,157.36 in new equipment this year including £3,800.00 in a new canopy which has greatly improved the outside space of the preschool and £591.92 in the WellComm speech and language assessment tool.

A Smarter Working Grant of £500.00 was received from Norfolk County Council for the WellComm system.

The current account holds £2,141.69 to meet the day to day running costs of the pre-school.

The reserve account holds £33,067.04. The pre-school should hold enough reserves to cover at least 3 months expenditure (£14,500) and the amount held in the reserve account is more than sufficient for this purpose should the preschool encounter financial difficulties in the future.

The fundraising total was £2,338.91, an increase of £913.01 on the previous year helped by the return on summer fayres following the pandemic. The fundraising account holds £2,739.40 at the end of the financial year.

With staff costs being the largest expenditure and the legal requirements of ratio’s of staff to children, the committee need to be aware that the sustainable future of the pre-school is still finely balanced.

The petty cash balance was £0.00 at year end as staff now buy supplies and BACS payments are made to ensure an audit trail.

An external bookkeeping service was retained by the committee for payroll, monthly accounts, budgets and year end accounts. While this is a cost to the pre-school, the benefits for the committee have been wide ranging.

Lacey Douglass

Bookkeeper

9[th] September 2022