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← Oughtrington Pre-School

2024-08-31-accounts

OUGHTRINGTON PRE-SCHOOL YEAR END ACCOUNTS AND FINANCIAL SUMMARY 2023-2024

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Oughtrington Community Centre
Oughtrington Crescent
Lymm
Cheshire
WA13 9JD
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Registered Charity Number: 1038655

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Oughtrington Preschool
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Year Ended 31st August 2024
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Oughtrington Pre-School Financial Summary for the Year Ended 31st August 2024

|

| Overview During this period, Oughtrington Pre-School experienceda financial loss of £6485. Despite several fee adjustments and funding increases, the overall expenses exceeded the income.

| Settings across the early years sector are facing significant challenges such as the rising costs of essential supplies and _ Services, insufficient funding and recruitment and retention.

Capacity and Enrollment:

. Income

Despite fewer children attending, revenue from core fees was £1700 higher than the previous year. The 2 main

: reasons for this are:

| Voluntary Enhanced Provision Fee: This increased from £18.50 to £20.00 per term.

_ Voluntary Consumables Fee: This was introduced in January at 50p per session, to help cover the rising costs of . consumables such as nappies, wipes, sun cream, hand wash and hand towels. | Snack Fee: This remained at 50p per session, with an option for children to bring their own snacks. ! Funding from Warrington Borough Council was £11,100 higher this year due to an increase in the funding rate from _ April and the successful application for SEND funding. This also includes Autumn Forecast of £3890, which is part | funding for the 24/25 academic year. The Government's new early years funding initiative means that eligible working ' parents of 2-year-olds are now able to access 15 hours per week. As a result, Pre-School now has more 2-year-oldson ‘| role which are then paid at the higher rate.

|[Free][ Early][ Years Entitlement][ (FEYE)][ Rates:] ¢ For 3 and 4-year-olds: Increased from £4.92 to £5.26 per hour in September, and further to £5.50 perhour in April. For 2-year-olds: Increased from £5.31 to £7.16 per hour in September, and further to £7.53 per hour in April. | Disability Access Funding (DAF) and Inclusion Funding:

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_ Df€ Grant: The Supervisor completed her term with the DfE's COVID recovery programme as a mentor to support "settings significantly affected by COVID-19. Preschool claimed a grant of £2125 from the Df€ for her work during the 2023 Spring, Summer and Autumn Terms.

|

Oughtrington Preschool

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Year Ended 31st August 2024

Oughtrington Pre-School Financial Summary for the Year Ended 31st August 2024

| Fundraising: Despite having no official fundraising team, a profit of £1007 was raised. The highlight was the PreSchool's SOth Birthday Celebration, which raised £177. Christmas fundraising activities continue to be profitable and raised nearly £300.

| Expenditure

_ Staff Salaries: Wages were £9,000 higher than the previous year due to the National Living Wage increase of £1.02 ' per hour and subsequent salary reviews.

Rent: Rent payments were higher than last year due to back charges of £1,710 issued by the new Committee of the Community Centre in which Pre-School is based. Rent will increase from £5,700 to £10,500 per year from September. Alternative premises or a joint venture with the local primary school should be investigated to manage this significant increase.

Utilities: Despite an increase of £9 per month, BT costs were £643 less this year due to a change in contract and no repair or upgrade costs.

Maintenance and Repairs: an unexpected cost of £4,397 was spent on resurfacing the outdoor play area, which had lost its integrity and become slippery.

| Training Costs: A total of £1,051 was spent on training, with £500 spent on Attention Autism training (covered by SEND funding) and £405 spent on First Aid training. | | Main Equipment Purchases: 2 privacy screens for the outdoor play area, to replace those damaged by extreme weather conditions over | Winter: £364. ¢ 2 Galaxy Tablets for the Tapestry Childhood Education Platform: £237. ¢ A dehumidifier to combat mold in the storeroom: £149. | # “£1000 less spent on toys and games, furniture and SEND resources, as these were replenished last year. _ Marketing Costs: To increase Pre-School’s presence within the local and wider community, the following was spent on ! marketing: ¢ Full page advert in the local May Queen program of events: £100. ¢ Purchase of a Super Duck in the local Round Table Duck Race, with social media advertising: £75. . Payroll Outsourcing: Following the resignation of the Bookkeeper in July, payroll has been outsourced to the Early Years Alliance for the 2024/25 Year. Annual cost: £286. {N.B. Insurance and EYA Membership is included in the total | ‘ cost of£1,136} | | Tapestry Subscription: £286 annual cost for subscribing to Tapestry, a Childhood Education Platform. This has tools to "help run the setting efficiently and to improve communication between families and staff. | Debt Recovery Fees: Pre-School policy now dictates that unpaid fees will be followed up through a debt recovery | company. Pre-School paid Beaumont Recoveries £381 to recover unpaid fees this year. However, this has proven to be | an effective form of debt recovery. _ Future Plans (Effective September 2024 : | © Operational Hours: With an increase of 30 minutes to operational hours, Pre-School is now open from 08:30 —

15:30.

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Year Ended 31st August 2024

Oughtrington Pre-School Financial Summary for the Year Ended 31st August 2024

| * Pre-School Fees: To remain at £6.00 per hour and be reviewed on a regular basis. Additional sessions to be charged at £7.00 per hour.

| * Breakfast Club Fee: To remain at £6.00 per day, with focus on attracting more attendees.

' * Consumables Fee: This will become compulsory and cover the costs of snacks, nappies, wipes, nappy bags, sun cream, handwash, medication, hand towels and use of spare clothing. To be charged at £1.50 per session.

' ® Holiday Club: Pre-School plan to trial holiday club days with a view to extending provision during school holidays. This is to meet the demand of working parents.

provision during school during school holidays. | flow. there has been a demographic has been a demographic been a demographic a demographic demographic | could dedicate spare time to sitting spare time to sitting time to sitting to sitting sitting | time to dedicate to dedicate dedicate to Preyear, it is more important than more important than important than than to drive the drive the the business | | a more sustainable sustainable j provide additional resources | Alliance: This could This could could provide grants, training and and professional for provisions, leaving an an | : ! NatWest account. This year account. This year This year year | account. This comes withitsown This comes withitsown comes withitsown withitsown =| sundries and more visibility to the visibility to the and online goods. This to the the goods. ThisBookkeeper. This[[ will]] more visibility to the visibility to the and Bookkeeper. This Pre-School staff to takefee to takefee takefee — three years, years, highlights the the need for for of Oughtrington Oughtrington Pre-School. The The measures, and and potential increase. Additionally, the Additionally, the the | of £11.61-£12.18 per hour, £11.61-£12.18 per hour, per hour, hour, will |

Committee and Governance

' The Pre-School is managed by a voluntary Committee of parents. Over the last 7 years, there has been a demographic has been a demographic been a demographic a demographic demographic shift in Lymm Village. Previously, Parents worked part-time or stayed at home and could dedicate spare time to sitting spare time to sitting time to sitting to sitting sitting on the Committee. Nowadays, parents are working full-time and do not have the spare time to dedicate to dedicate dedicate to PreSchool. With the resignation of both the Supervisor and Bookkeeper at the end of this year, it is more important than more important than important than than ’ ever that Committee roles are fulfilled by people with the experience and determination to drive the drive the the business _ forward and fully support the remaining team of staff.

' To address these challenges, the following options should be considered:

' } ;

¢ Joint Venture with the Local Primary Multi-Academy Trust (MAT): This could provide additional resources and support, as other settings in the area have successfully done.

Enlist business support from the Local Authority or Pre-School Learning Alliance: This could This could could provide

resources and guidance, networking opportunities, access to funding and grants, training and and professional development and advocacy and representation.

, Cash Surplus

| Cash surplus carried forward amounts to £ 70K, of which £47K has been earmarked for provisions, leaving an an _[uncommitted][balance][carried][ forward][of][ £23K.] :

_[Bank][ Accounts]

| The majority of funds currently sit within a single bank account. £445 is held in a dormant NatWest account. This year account. This year This year year ‘ Pre-School opened a Sum Up account, with a view to it being used as a petty cash account. This comes withitsown This comes withitsown comes withitsown withitsown »- debit cardreduce cashwhichtransactions can be preloaded within theandbusiness,used by which[ staff][ for] reduces purchasing humanrefreshments,error and givessundries and more visibility to the visibility to the and online goods. This to the the goods. ThisBookkeeper. This[[ will]] This account includes a card reader, which can be used at fundraising events and enables Pre-School staff to takefee to takefee takefee , payments on site.

‘ Conclusion

» The financial loss of £6,485, along with a cumulative loss of £19,000 over the past three years, years, highlights the the need for for ' continued monitoring and potential further adjustments to ensure the sustainability of Oughtrington Oughtrington Pre-School. The The | management team will continue to explore additional funding opportunities, cost-saving measures, and and potential ' collaborations to improve the financial health of the Pre-School and absorb the rent increase. Additionally, the Additionally, the the , upcoming increase in the National Living Wage, which is expected to fall in the range of £11.61-£12.18 per hour, £11.61-£12.18 per hour, per hour, hour, will ' necessitate another review of staff salaries to ensure compliance and fairness.

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Year Ended 31st August 2024

Oughtrington Preschool Income and Expenditure Account for the Year Ended 31st August 2024

'

Income and Expenditure

Income = 2023
£		 Expenditure 2024
£		 2023
£
Grants -WBC
Grants -DfE Experts&MentorsProgramme
Grants - Milk
Fees
Snacks
Consumables
VoluntaryEnhancementFee
SaleofChildrensUniform		 81,938
2,125
745
25,542
2,060
1,025
970
155		 70,833
3,250
983
23,835
2,187
-
1,044
147		 StaffCosts
Rent
EarlyYearsAlliance
Refreshmentsand Milk
TripsandSponsorships
Expendables
Stationary
Sundries
ComputerGoods
Cleaning
StaffTraining		 97,307
7,410
1,136
1,610
30
1,068
135
1,332
1,138
184
1,051		 88,155
3,990
840
1,666
68
936
83
1,136
874
220
420
Phone/Broadband
Registration
DBSChecks
Accountant
Beaumont Recoveries		 1,172
50
78
1,200
381		 1,815
50
338
1,200
=
Sum Up Fees 5 -
Marketing and Sponsorship 194 =
CoreActivities 114,559 102,280 115,481 101,791
Fund Raising 1,363 1,027 Fund Raising 503 85
Donations 146 200 Equipmentand Books
Refurbishment / Garden		 1,717
4,852		 2,390
522
Total 116,068 103,507 122,553 104,788
B/FCash 76,936 78,217 C/FCash 70,451 76,936
193.003 181.724 193,003 181.724
Analysisofsurplus 2024 2023
£ £
SantanderCurrentAccount
NatWestCurrentAccount
SumUpAccount
PettyCash		 69,706
445
200
99		 76,426
445
-
64
Total _70451 _76,936

Notes:

  1. Some rounding differences occur

Auditor's Report

| have examined the above accounts with the books and vouchers supplied to me. To the best of my information and knowledge, these accounts showa true and fair view of the state of affairs as at 31st August 2024.

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e |]i}eePS S5AChurchRoad~ Accountants 1|||
Lymm WA13 0QG |
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Year Ended 31st August 2024

Oughtrington Pre-School Income and Expenditure Account for the Year Ended 31st August 2024

Bank Reconciliation

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£
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Balance per Santander A/C statement 69,706
Balancer per NatWest Current A/C statement 445
Balance per Sum Up Account statement 200
Balance in Petty Cash 99
Total 70,451
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Add unpresented credits:
Value
£
Less unpresented cheques:
Cheque No. Value
£
As per accounts: 70,451
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Oughtrington Preschool

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Year Ended 31st August 2024

Oughtrington Pre-School Income and Expenditure Account for the Year Ended 31st August 2024

Creditors

There were no creditors

Debtors

There were no debtors

Provision

A provision of £30,000 is made for any future redundancies

A provision of £10,000 is made for Pre-School improvements A provision of £7000 is made for one-on-one care

These provisions are held within the Santander current account as part of the cash carried forward balance in the income and expenditure account.

Stock

No material stock was held

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Year Ended 31st August 2024

Oughtrington Pre-School Income and Expenditure Account for the Year Ended 31st August 2024

j

Analysis ofSundries £
Health&Safety £ 308
OfficeSupplies £ 241
Childrens Uniform £ 240
Building £ 188
Committee Gifts £ 144
Ancilary Craft Items £ 94
New Starter, Leavers&Christmas Gifts £ 61
Ancilary Kitchen Items £ 49
Batteries £ 7
1332
AnalysisofFundRaising Income Expenditure
E £
SummerFundraising (incl. 50th Birthday Party) 539 362
Christmas Fundraising 410 112
Easter Fundraising 160 29
Easy Fundraising 129
Sponsored WellieWalk 83
Misc Fundraising 44
1,363 503
AnalysisofDonations Income
£		 Expenditure
£
Just Giving 146
146 Q
AnalysisofEquipmentBought £
Electrical
Art& Craft		 524
373
Outdoor
Furniture
Toys&Games
Education
StaffUniform		 348
190
164
31
31
SEND 22
Role Play 19
Misc 12
Christmas 3
1.717

Oughtrington Pre-School Income and Expenditure Account for the Year Ended 31st August 2024

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Independent Examiner's Report to the Trustees of Oughtrington Pre-School

| report on the accounts of the Trust for the year ended 31st August 2024, which are set out on pages 1 - 6.

Respective Responsibilities of the Trustees and the Examiner

As the charity's trustees you are responsible for the preparation of the accounts; you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 43(7)(b) of the Act, whether particular matters have come to my attention.

Basis of Independent Examiner's Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity anda comparison of the accounts presented with those records. It also includes a consideration of any unusual items and disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all evidence that would be required in an audit, and consequently | do not express an audit opinion on the view given by the accounts.

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

  2. to keep accounting records in accordance with Section 41 of the Act; and

  3. to prepare accounts in accordance with the accounting records and to comply with the accounting requirements of the Act

have not been met; or

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

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Signed: a,Noun .
Name: Paul Wareham
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Date: 19/11/2024
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Relevant professional qualification or body: ACCA

Address: PS Accountants 5A Church Rd Lymm Cheshire WA13 0QG

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Year Ended 31st August 2024