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← Pangbourne Valley Pre-School

2024-08-31-accounts

PANGBOURNE VALLEY PRESCHOOL

Charity Registered Number - 1039967

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2024

Page 1

PANGBOURNE VALLEY PRESCHOOL

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024

INDEX
Page
3 Statement of Financial Activities
4 Balance Sheet
5 Independent Examiners' Report

Page 2

PANGBOURNE VALLEY PRESCHOOL

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST AUGUST 2024

Income
Fees
Grants
Specific grants
Donations
Net fundraising
Bank interest
Other income
Expenditure
Wages and NIC
Training
Staff uniforms
Membership and registrations
Business rates & water
Lighting and heating
Cleaning
Insurance
Admin costs
Sundry expenses
Repairs and maintenance
IT costs
Equipment, toys and consumables
Printing, postage and stationery
Telephone and internet
Advertising
Building and garden depreciation
Net Profit		 £
£
28,098
96,895
5,991
90
4,379
-
580
136,033
86,495
582
632
594
431
1,513
440
862
850
267
176
116
1,618
26
742
794
13,491
(109,629)
26,404
2024		 £
£
33,342
67,331
2,044
78
1,882
-
80
104,757
71,364
674
-
272
1,047
1,809
455
790
642
213
1,736
138
1,801
70
656
72
6,746
(88,485)
16,272
2023

Page 3

PANGBOURNE VALLEY PRESCHOOL

BALANCE SHEET AS AT 31ST AUGUST 2024

Tangible fixed assets
Building at cost
Accumulated depreciation
Note 1
Garden area and equipment at cost
Accumulated depreciation
Note 1
Toys and equipment at cost
Accumulated depreciation
Note 2
Current assets
Debtors
Bank
Petty cash
Current liabilities
Creditors
Accruals - wages
Net current assets
Net assets
Reserves
Unrestricted general fund brought forward
Surplus/(Deficit) for the year
Building re-instatement		 £
£
42,000
(42,000)
-
53,964
(20,237)
33,727
3,807
(3,807)
-
33,727
2,065
136,218
641
138,924
2,044
16,951
18,995
119,929
153,656
125,702
26,404
152,106
1,550
153,656
-
2024		 £
£
42,000
(42,000)
-
53,964
(6,746)
47,218
3,807
(3,807)
-
47,218
1,284
91,923
122
93,329
744
12,551
13,295
80,034
127,252
109,430
16,272
125,702
1,550
127,252
2023

Note 1 Building and garden depreciated over the remaining term of the lease. Note 2 Toys and equipment depreciated at 25%.

Page 4

ges CHARITY COMMISSION | Independent examiner's report on the | | FOR ENGLAND AND WALES accounts

SectionA

Independent Examiner’s Report

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Report to the trustees/
members of Pangbourne Valley Preschool
On accounts for the year | 31 August 2024 Charity no | 1039967
ended (if any)
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| report to the trustees on my examination of the accounts of the above charity (‘the Trust”) for the year ended 31/08/2024. Responsibilties and As the charity's trustees, you are responsible for the preparation of the basis of report accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

| 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.

Relevant professional | ICAEW qualification(s) or body (if any):

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Address: | 33 Beech Road
Purley on Thames, Reading
RG8 8DR
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IER

1

Oct 2018

Pangbourne Valley Pre-School Trustees' Annual Report 2023-2024

Reference and Administration Details

Charity Name: Pangbourne Valley Pre-School (formerly Pangbourne Valley Playgroup)

Address: Kennedy Drive, Pangbourne, Berkshire RG8 7LB Telephone: 0118 984 1661

Email: info@pangvalleypreschool.org

Ofsted Registration: 110733

Data Protection: PZ933890X Pre-School Learning Alliance Membership No: 7224 Registered Charity Number: 1039967

Charity trustees responsible for managing PVPG during and since the end of the financial year:

The Annual General Meeting (AGM) was held on 19th November 2024.

Senior Staff Member: Emma Carney (Manager)

Note: The charity changed its name on 11th September 2023 from "Pangbourne Valley Playgroup" to "Pangbourne Valley Pre-School".

Structure Governance and Management

The Pre-School is "owned" by the families that use it. There are usually around 40 to 50 family members — the parents or guardians of all children who attend. Committee members are parent volunteers or staff and are elected annually at the Annual General Meeting.

Pangbourne Valley Pre-School operates under a standard Pre-School Learning Alliance constitution. The charity is run on a day-to-day basis by a team of staff, led by the Manager. While the Manager is directly responsible for organising the staff, the Committee is the legal employer and oversees responsibilities related to wages, job profiles, and contracts.

The recruitment of staff is conducted jointly by the Manager and the Management Committee. The Pre-School continues to operate within the staff-to-children ratios as set down by Ofsted, and our practice evolves in line with best practice and the needs of the children attending at any given time. The Pre-School operates from a purpose-built building on the grounds of Pangbourne Primary School. In September 2023, we formally changed our name from

Pangbourne Valley Playgroup to Pangbourne Valley Pre-School to better reflect the early years educational services we provide.

Objectives and Activities

Our objective continues to be to enhance the development and education of children under statutory school age in a safe, inclusive, and nurturing environment. We provide childcare and early years education to children from the village and surrounding areas, with a particular focus on supporting families from disadvantaged backgrounds.

The Pre-School is funded through a combination of government funding — including entitlements for 2-, 3-, and 4-year-olds — and parent-paid fees. Historically, government funding for 2-year-olds targeted children most in need, and although access has now widened, our mission remains focused on supporting those families who benefit most from affordable, high-quality childcare.

To keep our services accessible, we do not charge for consumables, and we offer complete flexibility in how funded hours are used, allowing families to fully benefit from their entitlements. For those paying fees, we continue to work to keep costs as low as possible.

We offer local children aged 2 to 5 the opportunity to play, learn, and grow through a broad curriculum of planned and child-led activities. We operate term-time sessions Monday to Friday from 7:30am to 3:15pm, including a breakfast club which was trialled in 2023 and has continued successfully. We have also introduced Holiday Clubs during non-term time, which are proving to be a success. These sessions run for three hours.

Achievements and Performance

Enrolments

Enrolment figures remained stable during the 2023–2024 financial year, though the hours booked per child increased significantly. In September 2023, we had 30 children on the books, growing to 41 by April 2024, and ending the year with 34 in July 2024.

Most of our children live within the RG8 postcode, with the rest travelling from RG7, RG30, RG31, RG19, and RG1. This reinforces our strong local identity while showing that our reputation continues to reach neighbouring areas.

Throughout the year, 2-year-olds consistently made up around one-third of our cohort, with a growing proportion eligible for government-funded hours — particularly from April 2024, when expanded eligibility began.

Weekly booked hours rose from 454.75 in September 2023 to 657.5 in April 2024 — an increase of over 200 hours per week. Of these, over 85% were funded, reflecting a major shift in how families access childcare through government schemes.

Staffing

Staffing remained strong during FY23/24. Two members of staff were on maternity leave for most of the year. To maintain coverage and ensure continuity for the children, we brought in temporary staff members, increasing to 10 staff in total. As session bookings increased, we made the decision to retain these additional staff even after the return of the original team, ensuring that we could continue to meet growing demand without compromising care or quality.

As of the time of writing, we now have nine staff members. In April 2025, we bid farewell to one of our longest-serving colleagues, who retired after 30 years of dedicated service to the Pre-School. Her legacy and contributions over the decades are deeply valued and remain an integral part of our community identity.

Our staff continue to meet or exceed required ratios, and regular parent communication supports a high level of engagement. The Pre-School management team has done an excellent job of keeping staff motivated and supported during this period of operational change. They have shown great adaptability in managing the increasing proportion of funded 2-year-olds, while also balancing session capacity. Crucially, they have ensured that existing families are able to increase their hours seamlessly as their children become eligible for greater government funding at age three.

Financial Review Including Fundraising – FY23/24

In the financial year from 1st September 2023 to 31st August 2024, Pangbourne Valley PreSchool achieved a healthy surplus of £26,404, with total income reaching £136,033 and total expenditure amounting to £109,629. This compares to a surplus of £17,512 in the previous financial year, demonstrating steady financial growth aligned with rising service demand and increased government support. This financial outcome represents a continued trend of sustainability and cautious growth as the Pre-School adapts to increasing demand and evolving government support for early years education.

A substantial portion of the income — £96,895 — came through government funding administered via West Berkshire Council. This funding reflects the significant expansion in entitlement hours, particularly for 2- and 3-year-olds. In addition to increased uptake, government funding rates themselves have risen sharply. The funded hourly rate for 2-yearolds rose from £5.71 in 2022/23 to £8.30 in 2023/24, and for 3-year-olds from £4.50 to £5.39. This uplift — combined with the rise in total hours booked — explains the substantial increase in grant income this year. Fees from parents, including lunch club payments, contributed a further £28,098, indicating a modest drop in comparison to the previous year, likely due to more families qualifying for full funding.

The Pre-School also received £5,991 in specific grants. Of this, £1,016 came from the Co-op Community Fund to support our future building project, £2,000 was awarded as Early Inclusion Funding to provide one-to-one support for children with additional needs, and £2,975 came from EYPP (Early Years Pupil Premium) to support targeted interventions.

Community support and grassroots contributions remained a key part of our funding mix, with £4,379 raised through a variety of fundraising activities. Other income sources included £580 — largely from registration fees and toddler group sessions, which, although break-even, strengthen our presence in the village and help reach new families.

This careful balance of public funding, parent contributions, and community engagement allowed us to manage costs effectively while maintaining and even improving provision.

Expenditure

Total expenditure for the year was £102,885, a rise from the previous year reflecting increased staffing costs, inflationary pressures, and strategic investment in resources. The largest proportion of this — as expected — was staff wages and NIC at £86,495, which rose to accommodate both national minimum wage increases and expanding staffing needs. This included retaining temporary staff initially brought in to cover maternity leave due to sustained demand.

Other significant costs included £6,746 in building and garden depreciation, which remains consistent with previous years, and £1,618 on equipment, toys and consumables. The uniform expenditure rose to £632 due to the rebrand, and £794 was spent on advertising, mainly attributed to redevelopment and dual running of the new website.

While some operational categories like training and admin remained steady, items such as repairs, IT costs, and printing, rates and water were carefully managed. Compared with FY22/23, many line items were either stable or reduced. These figures reflect continued tight operational control, even as service volume increased.

There was no capital expenditure during this period, and depreciation of the building and garden continues on schedule.

Fundraising

Fundraising income increased from £1,882 in the previous year to £4,379, demonstrating renewed community energy and event participation. Highlights included:

JustGiving Campaign – £1,792 Santa’s Grotto – £700.02 Village Fete – £651.99 Christmas Raffle – £316 Theale Fete – £142 Photo Trail – £139 Payroll Giving – £300 West Berkshire Lottery – £213 EasyFundraising – £174

Additional smaller events: Duck Hunt, Cake Sale, Garden Party, Christmas Art Project, and Playschool Products

This renewed focus on events and donation platforms helps sustain our mission and lays a foundation for future capital fundraising goals. Of particular note, our Manager ran multiple marathons throughout the year to raise funds for the Pre-School, contributing a substantial portion of our JustGiving total. In another inspiring effort, a staff member shaved her head to raise awareness and donations. These examples reflect the deep commitment of our team — staff regularly volunteer their personal time and energy to ensure the continued success and vibrancy of the setting.

Plans for the Future Looking ahead to FY24/25, we are well positioned for growth. With increased entitlement hours and the closure of the FSI unit at Pangbourne Primary, we anticipate continued demand and fuller capacity. Our long-term vision includes securlng funds for a new bullding to future-proof the setting and enhance the environment we offer. Surpluses generated in FY23124 will contribute toward this fund. We also intend to continue benchmarking staff wages to ensure competitive pay, retain experienced staff, and attract new talent as needed. Additionally, our toddler group programme wlll continue, reinforcing our role as a central plllar of the local early years community. Declaratlon The trustees declare that they have approved the trustee'5 report above. Signed on behalf of the charity's trustees Full Name Position Date Signature Sam Saunders Chalr Full Name Position Date Signature Bethany Hughes Secretary 1gIDbllOLS