Wilford Village Playgroup Trustees’ Annual Report 2022-2023
Wilford Village Playgroup The Centre – Victorian Building Main Road, Wilford Nottingham, NG11 7AL Charity No. 1038552
Trustees:
P.Heseltine A.Shaheen A.Leeming J.Miller E.Potter
Introduction
Wilford Village Playgroup is managed by one manager and supported by a finance administrator. There are two age groups based in two separate rooms. Each room has a room supervisor and 2-4 childcare practitioners. Trustees are recruited by existing trustees and via newsletters etc.
Chair’s report
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After a couple of very challenging years for Playgroup with Covid and lower numbers of children, which had a big impact on the finances, this year has been a positive year of increased stability and growth. We have seen much higher numbers of children in room 2 particularly this year and the finances are in a less fragile position. This will allow future committees to consider opening room 1 more hours, particularly as funded hours for all 2 years olds come into place next year.
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We were sad to see a manger leave at Christmas after a commitment and dedication of 4 years as manager, however it has been great to see another colleague step up and take on full manager responsibility. New management has shown brilliant initiative and dedication. We have also employed a part time finance administrator which has been a huge help.
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A staff member completed their level 3 qualification this year and we have another staff member who we are currently supporting to do this qualification.
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A highlight for this year has been the garden transformation that took place in the early spring. We used a donation made by the Co-Op to buy quality outdoor equipment and make this space a really great learning environment.
Manager’s report
It has overall been a good year for Playgroup and we are looking forward to growing, working hard and improving in the year ahead.
Numbers as at the date of the AGM:
Room 1 – Caterpillars - 27 Children on the register.
| M | T AM | T PM | W | TH AM | TH PM | F |
|---|---|---|---|---|---|---|
| 14 | 20 | 12 | 20 | 15 | 12 | 15 |
Room 2 – Butterflies – 32 Children on the register.
| M AM | M PM | T AM | T PM | W AM | W PM | TH AM | TH PM | F AM | F PM |
|---|---|---|---|---|---|---|---|---|---|
| 20 | 16 | 22 | 20 | 24 | 22 | 21 | 19 | 22 | 17 |
Numbers in Room 1 are similar to those of last year, Room 2 numbers have been considerably higher to last year’s numbers; that averaged 14 a day. Numbers on the register for the September term were a positive starting point for both rooms and the academic year ahead: Room 1 – 17 Room 2 – 25
Opening hours
We are currently offering 15 minutes either side wrap around care which has been very helpful for parents, and will continue into the next academic year. We are also trialling the full time opening of Room 1.
Staff training and CDP
All staff are level 3 qualified or above and we have one member of staff currently working hard to complete her NVQ level 3. Staff are also all first aid trained and several staff have been trained in Food Safety for snack preparation. Staff have also taken part in training courses to continue their professional development including, putting the fun into phonics, developing early number sense, the power of play, rethinking behaviour, leadership and SENCO networks.
Treasurer’s Report
Wilford Village Playgroup is a charitable organisation, we use HiCloud accounting limited based in Wilford business park for their accounting and payroll services. They provide us with access to QuickBooks which is a popular small business accounting software package. At the end of each financial year, our accountant Richard Austin from HiCloud completes an annual report before we submit it to Sarah Coombs, a Wilford based AAT regulated and licenced independent account examiner, for account examination.
Our financial year 2022-2023 annual report shows that Playgroup has had a fantastic financial year. The Playgroup has increased its annual income to £148,145 compared to an income of £95, 535. This means that Playgroup has increased its income in the 2022-2023 financial year compared to 2021-2022 by £52,610.
Because of the increased income Playgroup has had, expenditure has also been able to increase this year from last. Last year in 2022 the expenditure totalled £111,964 meaning that Playgroup made a loss of £16,429. In 2022-2023, however, Playgroup increased is expenditure to £136,487. This is an increase of £24,523. This increased expenditure, however, remains less than the total income for this financial year meaning that Playgroup has made a profit of £11,658.
It is great to see that Playgroup has been able to recover financially from Covid-19 nd has managed to make a profit. This is very positive news and I would like to highlight several areas of financial success:
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Being able to fund two staff through their level 3 qualification. Investing in staff training is important to ensure children benefit from trained practitioners.
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Funds spent on improving facilities to the children, including improvements to the outside area for children and spending more money on day-today activities.
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Making a move to healthier snacks of fresh fruit and vegetables with the help of the resource fee, supporting Playgroup’s healthy eating policy.
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Extending hours in Room 1. This has had a positive impact on Playgroup’s financial position and is set to be open more in 2023 – 2024 as a result of the change in government free hours.
The Committee and Playgroup Management and Staff have worked really hard this year to help Playgroup recover financially and ensure that its expenditure does not equate to a loss of profit. As can be seen in the accounts expenditure for Playgroup has risen due to increases in price which are affecting businesses and charities across all industries and this has been a difficult time for Playgroup, however thanks to all of the hard work of those involved in running the Playgroup it has had a successful year.
Independent examiner’s report to the trustees of Wilford Village Playgroup
I report to the trustees on my examination of the accounts of Wilford Village Playgroup for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you 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 Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
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the accounts do not accord with those records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Name: Sarah Dakin
Relevant professional qualification or membership of professional bodies (if any): AAT, regulated under licence number 1004444.
Address: 42 Dungannon Road, Clifton, Nottingham NG11 9BT
Date: 05/08/2023
Wilford Village Playgroup
Charity No. 1038552
Trustees' Report and Unaudited Accounts
31 March 2023
Wilford Village Playgroup Contents
| Pages | |
|---|---|
| Trustees' Annual Report | 1 |
| Statement of Financial Activities | 2 |
| Balance Sheet | 3 |
| Statement of Cash flows | 4 |
| Notes to the Accounts | 5 |
| Detailed Statement of Financial Activities | 6 to 7 |
Page 1
Wilford Village Playgroup Trustees Annual Report
The trustees present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Charity No. 1038552
Trustees
The following trustees served during the year:
P. Heseltine
-
A. Shaheen
-
A. Leeming
-
J. Miller
-
E. Potter
Accountants
HiCloud Accounting Limited
Unit 7
Wheatcroft Business Park
Landmere Lane
Nottingham NG12 4DG
OBJECTIVES AND ACTIVITIES
A large charity must provide an explanation of its aims, including details of the issues it seeks to tackle and the changes or differences it seeks to make through its activities...
A large charity must provide an explanation how the achievement of its aims will further its legal purposes...
A large charity must provide an explanation of its strategies for achieving its stated aims and objectives...
A large charity must provide an explanation of its criteria or measures it uses to assess success in the reporting period...
A large charity should provide a more detailed explanation of its short-term and long-term aims and objectives...
ACHIEVEMENTS AND PERFORMANCE
A large charity must review its charitable activities undertaken, explaining performance achieved against objectives set ...
A large charity must include an explanation when material fundraising activities are undertaken, details of the performance achieved against fundraising objectives set ...
A large charity must provide an explanation when material investments are held, details of investment performance achieved against objectives set ...
Page 2
Wilford Village Playgroup Trustees Annual Report
A large charity must provide an explanation of any material expenditure occurred to raise income in the future...
A large charity must provide commentary on those significant positive and negative factors within and outside the charity's control which are relevant to the achievement of its objectives ...
PLANS FOR FUTURE PERIODS
A large charity must provide a summary of the charity's plans for the future including its aims and objectives and details of any plans to achieve them ...
A large charity's report should explain the trustees perspective of the future direction of the charity...
Statement of trustees' responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the charity's trustees
E. Potter Trustee 31 March 2023
Page 3
Wilford Village Playgroup Statement of Financial Activities
for the year ended 31 March 2023
| Notes Income and endowments from: Other 3 Total Expenditure on: Other 4 Total Net gains on investments Net income/(expenditure) Transfers between funds Net income/(expenditure) before other gains/(losses) Other gains and losses Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds |
Restricted funds |
Total funds | Total funds | |
|---|---|---|---|---|---|
| 2023 | 2023 | 2023 | 2022 | ||
| £ | £ | £ | £ | ||
| 148,145 | - | 148,145 | 95,535 | ||
| 148,145 | - | 148,145 | 95,535 | ||
| 136,487 | - | 136,487 | 111,964 | ||
| 136,487 | - | 136,487 | 111,964 | ||
| - | - | - | - | ||
| 11,658 | - | 11,658 | (16,429) | ||
| - | - | - | - | ||
| 11,658 | - | 11,658 | (16,429) | ||
| 59 | - | 59 | 3 | ||
| 11,717 | - | 11,717 | (16,426) | ||
| 45,754 | 1,651 | 47,405 | 63,831 | ||
| 57,471 | 1,651 | 59,122 | 47,405 | ||
Page 4
Wilford Village Playgroup Balance Sheet at 31 March 2023
| Charity No. 1038552 Current assets Cash at bank and in hand Net current assets Total assets less current liabilities Net assets excluding pension asset or liability Total net assets The funds of the charity Restricted funds 6 Restricted income funds Unrestricted funds 6 General funds Reserves 6 Total funds Approved by the trustees on 31 March 2023 |
2023 £ 59,122 59,122 59,122 59,122 59,122 59,122 1,651 1,651 57,471 57,471 59,122 |
2022 £ 47,405 |
|---|---|---|
| 47,405 | ||
| 47,405 47,405 |
||
| 47,405 | ||
| 47,405 | ||
| 1,651 | ||
| 1,651 45,754 |
||
| 45,754 | ||
| 47,405 | ||
And signed on their behalf by:
E. Potter Trustee 31 March 2023
Page 5
Wilford Village Playgroup Notes to the Accounts
for the year ended 31 March 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic if Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
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Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.
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Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values.
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Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Income
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Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
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Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA.
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Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
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Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Page 6
Wilford Village Playgroup Notes to the Accounts
Expenditure
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Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT which expenditure cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
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Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
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Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
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Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from tax on its charitable activities.
Freehold investment property
Investment properties are measured initially at cost and subsequently at fair value at each balance sheet date and are not depreciated. All gains or losses are taken to the Statement of Financial Activities as they arise.
Stocks
Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised at fair value which is the amount the charity would have been willing to pay for the items on the open market.
Trade and other debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Page 7
Wilford Village Playgroup Notes to the Accounts
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities denominated in currencies other than the functional currency of the charity are translated at the rates of exchange prevailing at the end of the reporting period.
Transactions in currencies other than the functional currency of the charity are recorded at the rate of exchange on the date that the transaction occurred.
All exchange differences are are taken into account in arriving at net income/expenditure.
Leased assets
Where the charity enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.
Leases which do not transfer substantially all the risks and rewards of ownership to charity are classified as operating leases.
Assets held under finance leases are initially recognised as assets of the charity at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the charity's policy on borrowing costs.
Assets held under finance leases are depreciated in the same way as owned assets.
Operating lease payments are recognised as an expense on a straight-line basis over the lease term. In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.
Pension costs
The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payments obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
Page 8
Wilford Village Playgroup Notes to the Accounts
2 Statement of Financial Activities - prior year
| 2 Statement of Financial Activities - prior year |
|||
|---|---|---|---|
| Income and endowments from: Other Total Expenditure on: Other Total Net income Net income before other gains/(losses) Other gains and losses: Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward 3 Other income 4 Other expenditure Employee costs Premises costs General administrative costs Legal and professional costs |
Unrestricted funds 2022 £ 93,410 93,410 111,205 111,205 (17,795) (17,795) 3 (17,792) 62,180 44,388 Unrestricted £ 148,145 - 148,145 |
Restricted funds 2022 £ 2,125 2,125 759 759 1,366 1,366 - 1,366 1,651 3,017 Total 2023 £ 148,145 - 148,145 |
Total funds 2022 £ 95,535 |
| 95,535 111,964 |
|||
| 111,964 | |||
| (16,429) | |||
| (16,429) 3 |
|||
| (16,426) 63,831 |
|||
| 47,405 | |||
| Total 2022 £ 93,410 2,125 |
|||
| 95,535 | |||
| Unrestricted £ 1,820 115,769 9,908 7,851 1,139 136,487 |
Total 2023 £ 1,820 115,769 9,908 7,851 1,139 136,487 |
Total 2022 £ 759 92,058 10,395 7,473 1,279 |
|
| 111,964 |
Page 9
Wilford Village Playgroup Notes to the Accounts
| 5 Staff costs Salaries and wages Social security costs Pension costs No employee received emoluments in excess 6 Movement in funds Restricted funds: Restricted income funds: Total Unrestricted funds: General funds Total funds 7 Analysis of net assets between funds Net current assets 8 Reconciliation of net debt Cash and cash equivalents Net debt |
of £60,000. At 1 April 2022 1,651 1,651 45,754 47,405 |
2023 105,221 3,251 3,501 111,973 Incoming resources (including other gains/losses ) £ - - 148,204 148,204 Unrestricted funds £ 34,261 34,261 At 1 April 2022 £ |
Resources expended £ - - (136,487) (136,487) Restricted funds £ 24,861 24,861 Cash flows £ |
2022 83,984 2,707 2,359 |
|---|---|---|---|---|
| 89,050 | ||||
| At 31 March 2023 £ 1,651 |
||||
| 1,651 | ||||
| 57,471 | ||||
| 59,122 | ||||
| Total £ 59,122 |
||||
| 59,122 | ||||
| At 31 March 2023 £ |
||||
| 47,405 | 11,717 | 59,122 | ||
| 47,405 47,405 |
11,717 11,717 |
59,122 | ||
| 59,122 | ||||
Page 10
Wilford Village Playgroup Notes to the Accounts
9 Commitments
Operating lease commitments
Annual commitments under non-cancellable operating leases are as follows:
| 2023 | 2023 | 2022 | 2022 | |
|---|---|---|---|---|
| Land and buildings |
Other | Land and buildings |
Other | |
| £ | £ | £ | £ | |
| Operating leases with expiry date: | ||||
| Pension commitments | ||||
| 2023 | 2022 | |||
| £ | £ | |||
| The pension cost charge to the charity | ||||
| amounted to: | 3,501 | 2,359 |
Page 11
Wilford Village Playgroup Statement of Cash flows for the year ended 31 March 2023
| Cash flows from operating activities Net income/(expenditure) per Statement of Financial Activities Adjustments for: Dividends, interest and rents from investments Decrease in trade and other payables Net cash used in operating activities Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities Net cash from financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2023 £ 11,717 (148,145) - (136,428) 148,145 148,145 - 11,717 47,405 59,122 |
2022 £ (16,426) (95,535) (252) |
|---|---|---|
| (112,213) 95,535 |
||
| 95,535 | ||
| - | ||
| (16,678) | ||
| 64,083 | ||
| 47,405 | ||
| Components of cash and cash equivalents | ||
| Cash and bank balances | 59,122 | 47,405 |
| 59,122 | 47,405 |
Page 12
Wilford Village Playgroup Detailed Statement of Financial Activities
for the year ended 31 March 2023
| Income and endowments from: Other Total income and endowments Expenditure on: Other expenditure Employee costs Salaries/wages Employer's NIC Pension costs Staff entertainment Staff training Staff welfare Premises costs Rent Premises cleaning Premises repairs and maintenance Other premises costs General administrative costs, including depreciation and amortisation Equipment expensed Equipment leasing and hire charges Equipment repairs and maintenance General insurances Information and publications Postage and couriers Software, IT support and related costs Stationery and printing Subscriptions |
Unrestricte d funds 2023 £ 148,145 - 148,145 148,145 1,820 1,820 105,221 3,251 3,501 616 1,549 1,631 115,769 7,453 1,166 100 1,189 9,908 2,653 559 - 754 - 20 1,204 382 13 |
2023 £ - - - - - - - - - - - - - - - - - - - - - - - - - - - |
Total funds 2023 £ 148,145 - 148,145 148,145 1,820 1,820 105,221 3,251 3,501 616 1,549 1,631 115,769 7,453 1,166 100 1,189 9,908 2,653 559 - 754 - 20 1,204 382 13 |
Total funds 2022 £ 93,410 2,125 |
|---|---|---|---|---|
| 95,535 | ||||
| 95,535 759 |
||||
| 759 | ||||
| 83,984 2,707 2,359 - 892 2,116 |
||||
| 92,058 | ||||
| 6,474 1,420 405 2,096 |
||||
| 10,395 | ||||
| 2,833 - 289 471 124 11 1,073 207 - |
Page 13
Wilford Village Playgroup Detailed Statement of Financial Activities
| Sundry expenses Telephone, fax and broadband Legal and professional costs Accountancy and bookkeeping Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net income/(expenditure) Net income/(expenditure) before other gains/(losses) Other Gains Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
1,701 565 7,851 960 179 1,139 136,487 136,487 - 11,658 11,658 59 11,717 45,754 57,471 |
- - - - - - - - - - - - - 1,651 1,651 |
1,701 565 7,851 960 179 1,139 136,487 136,487 - 11,658 11,658 59 11,717 47,405 59,122 |
1,686 779 |
|---|---|---|---|---|
| 7,473 | ||||
| 754 525 |
||||
| 1,279 | ||||
| 111,964 | ||||
| 111,964 - |
||||
| (16,429) | ||||
| (16,429) 3 |
||||
| (16,426) | ||||
| 63,831 | ||||
| 47,405 |
Page 14