2023-07-31-accounts - Barn Owls Etchingham Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

ll23, ll.'YJAM 8arh Ow)Ls wr5j1I Chairman's Rewt for yeor end 31 Juty 2023 The 80rn Owls Prt.Sthool yeor. which ended 31 Z023 a challeNJtryJ year with number of 519nif icont h&thiiTrJs foced. The risin9 Cost of liviry ond inf lalion af fected both our costs and the position of tyJr porents. and years of irndequot¢ fundiry from cenlral 90vernment took Its toll on +yJr op¢rotirg Costs leodiN4 to a Sl9nif ie¢nt loss, which is ¢over¢d in detoil in the fir4mCidls section. As a reminder. garn Owls operates +2S a Mt-for-prof it th¢trit¢Ie w91$atiOn providiThJ etsrly years education for children 09ed 24 in EtChih¢M and the rr•41Th4 or¢os. W¢ tsre not ned by 9overiwnent or private shareholders our alm is to be a community osset pro¥idiNJ excellent childeore at reasomble tosl. whilst ensurir¥J our stoff ¢tre paid fairly. Born Owls Is momged by d 9rw of vol¢Jntory true¢s ond aperotes under the regulotion of Ofsted ond the Chority Commission. Whilst w¢ aim lo hJv¢ str¢ThJ ties with Etchiryhom C of E Primary Sthool ond shdre port of the sdme prtrnises. we are Mt oWd or momged by the school in ary w¢ry. Throu9h4Xt the year we have brotyjly been operatiNJ at our mlMuM Caplty ar¥J have C*%clou$'0vcr-slOf fed at times to ensure that Individuol needs of all our childr¢n hdve been catered for. We have s¢ert over 20 leavers this year. the majority m(wiry on to Bunwsh ond Etchinghom primary schools. Int¢rtstiTrvJly. we or¢ slill s¢eiN4 th¢ effects of the Covid lockdown period on the Children comiry throu9h the s¢ttity with spe¢(h dnd ls)f9LVV ths well as their personal. social and emotIor1 development all where we wwld normally wect. Whilst the children will no dwbt cotch up it is interestirty to see the lthiry implications th¢ tumultu$ Covid period hod. Fimlly, we ore now fully and rnMllVJ Wlth Tapestry, an online learniry JourMI. Last year we Irwested in Ipads so ihat stuff C¢ c¥ture the children's ledrniry Jrney$ in real time and log these online for porents to see. The move cosncided with o charge in the turriculum ttfter the initial trial period is now proviThJ populor with both parents and stoff alik

Iir22r23. Li.SOP c[Man,$ Rew2D23th. G(K 05 Financiols Follewing a challtrKJtThJ year ended Juty 2022 wh¢re the settiw mode a £9.3k los$. the yeor ertded Juty 2023 resulted In on iKreased loss of £18.2k. We wer¢ ¢ware that ihis Was goir¥J to be a ¢hall¢ThJiTh) year had enwred the cosh reser¥¢s were in plate to absorb this loss. The main choll¢ry we hove faced Is the Eorty Years E(hJcation Entitlement IEYEE) fundin9 {i.e. the rate we ]rt paid by local government for the free childcort certain people are entitled to) has not kept poce with the rise In the mt101 liviry wa9e INLWI. We hove bwi committed to p¢ryin9 all our staf f the NLW as a bare minimuffl and th¢ rises in this b¢nchmark over the past two years If rom April 2022 and April 2023) have been 6.6% and 9.7%. 8y contrast the rise In EVEE funding In those two years ha% been ¢wrox 3.93.9% 4.9x110.1% {3-4 year old12 year old) r¢speclively. As th¢s¢ two factors are by t¢Jr our bi99est source ot incorne/expere, this been the source of the Ioss over the post 2 years. On a more positive note, an Interim Increose in EYEE rates wos anrw)ced from Septemb¢r 20Z3132.7% for Z yo arJ 10.6% f or 314 yol, which will brivvj dewn the d¢f icit for FY24. We htye olso hod to mok¢ modest rises to the fee lev¢ls. whith VK have done rou9hty in Iirt with the Increose. As well Gs th¢ incr¢ased wage bill we h¢M seen a rise in premises CO$ and 9en¢ral expeffj¢s caused by inflatiowy pr¢sgJres. wthich further corttritwted lo the loss in the year. Th¢ prof it Ioss a¢count for th¢ year ¢ed 31 July can be ffid as on ApperKlix lo this report. As olluded io earlier. I am hopeful thot the ireaSe in EVEE fuThlin9 in both April 2023 and Septemb¢r 2023 will help to ensure thot we bre4th even irt the next f ir¥mcial ye4W. Early yettrs childcore hos risen up the political lynda in recent times il oppears the thronic underfundiry of this sector is slowty stortir¥J to be oddress¢d. However. It is Inevitable thot we will ttlso need to roise the rntes of porent fees as well. Our rates ore notably theoper th¢ most locol offerings ond we or¢ ¢ommitted to keepirs them as as possible whilst ensurir¥J the viability of the settiry. Historicolly we htwe o for smoller pr¢portion of 2 year olds compored to 3&4 year olds but ih¢ government is extendivJ its gf fer of 15 hwrs f ree childcare lo more workiry porents f rom April 2024. $0 we will see what effect this has on ptrents wishiry to enrol their 2 year olds. We con*iNe to be the moin fe&4er for EtchiNJhom C of E Primory school it Is importont we Pa8e12

1112Z123. 11.'50AM maintain stroNJ ties with the schoo19iven the reception children opernte the same curriculum ¢Jnd It Is hu9ely bethef ieial for ihose children moviry on to ihe primary school ttr hov¢ thot familiority We also btnef It from o sFror¥J relatioN%hip with ra$h C of E Prim¢]ry school which we will look to foster and tontiNe 9iv¢n the Thjmbers of pupils thot move on to there. We expert there to be a contirojed ptyjse on speTh4iTrY4 on copital equipment whilst Ihe f iTCIal position slabilises. CorKhJs1on D¢spite the h¢adwinds mentior%d. there is C$¢ for cptimism and with th¢ increased fundirwj provided by government I expect barn Owls to be in a f IrwKially stror¥J¢r position this time next year. Thal said. costs will need to be moniived 119hity thrwhout the yeor to tnsur¢ the viabilsty artd sustosmbility of the setttn9 goirg forwards. Z wtyjld like to re9iSter my thanks to Helen her wofyjerful teom of slaf f. They are what makes ihe settin9 a succtss and work tireless to provide fjn ¥NJtstandirwJ ¢duc(rti¢n to the children. Finally. there ¢Jre currentty 2 trusiee vaconcies that w¢ ore IMkn'r¥J to fill. The role of a tr¢Jstee Is not an 0rouS on¢. nor does It requir¢ prior krledge of the childtare sector. We con onty keep ruming 8thrn Owls If w¢ have people in the community williw to gjpport so If you ar¢ Interested. pleose contact Helen {contoci detoils on heodtr) or me on Best regards. Justin Lyon f4rylor (Chair of Trustees) Appendjx l - Ac¢ounts to 31 2023 Page13

Date: 1811112023 Time.. 16:39'.24 Etchin ham Barn (11$ Pres¢hool Profit and Loss Page.. From: To: Month I, Augus12022 Month 12, Juty 2023 Chart of A¢nIS.. Period Year to Date Sales Pawt Fees ESCC Fees Fundr4islrKJ Donations Schwl Unlform SchcK)l Dinners Nursery Grnnt 33,997.12 87.086.40 51.(Kl 33,937.12 87,086.40 51. 61.60 5,174.03 165.L 61.60 5,174.03 165.Ci) 126,540.14 126,540.14 Purthaseg ertysng 122.40 122.40 122.40 122.40 Dlrect E%pens•s Gross Prolitl (LO). Overheads Gross Wa9es SMP Employers Natkjnèl Insurnn Employers Penskns SMP, SSP SAP RecL8iry*d Premlses Expenses Hall Hlre 8uslness Ra Postage 126,417.74 126,417.74 112,292.45 10,291.19 6,X8.76 3,025.89 110.291.19) 6,326.60 35.1)) 2,166.40 14.70 X15.92 158.28 7,605.67 52.n 1,472 156.th) 112,292.4S 10,291.19 6,309.76 3,025.89 110,291.19) 6,326.60 35.1)) 2,166.40 14.70 305.92 158.28 7,605.67 52.72 1,472. 156.C(I 366.( 380.70 95.55 358.C 858.17 2,600.58 Ccynputer Sofvare Pre-xhthjl General Expenses Rrfhrnents Attountancy Professional Ftts RepaSrs and Renewals aeanln9 Bank Char9es Training Costs Insuran Sck¢)l Meal Q)slS 3eo.70 95.55 358.TrJ 858.17 2.6(.58 144.$81.25 144,581.25 118,163.51} Net Profiti (LOSS): (18,163.511

Date: 18/11/2023 Time: 16:39:24

Page: 1

Etchingham Barn Owls Preschool Profit and Loss

From: Month 1, August 2022 To: Month 12, July 2023

Chart of Accounts:

Default Layout of Accounts

Period Sales Parent Fees 33,997.12 ESCC Fees 87,086.40 Fundraising 51.00 Donations 4.99 School Uniform 61.60 School Dinners 5,174.03 Nursery Grant 165.00 Purchases Advertising 122.40 Direct Expenses Gross Profit/(Loss): Overheads Gross Wages 112,292.45 SMP 10,291.19 Employers National Insurance 6,309.76 Employers Pensions 3,025.89 SMP, SSP SAP Reclaimed (10,291.19) Premises Expenses 6,326.60 Hall Hire 35.00 Business Rates 2,166.40 Postage 14.70 Office Stationery 305.92 Computer Software 158.28 Pre-school General Expenses 7,605.67 Refreshments 52.72 Accountancy 1,472.80 Professional Fees 156.00 Repairs and Renewals 366.06 Cleaning 380.70 Bank Charges 95.55 Training Costs 358.00 Insurance 858.17 School Meal Costs 2,600.58 Net Profit/(Loss):	126,540.14 122.40 0.00 126,417.74 144,581.25 (18,163.51)	Year to Date 33,997.12 87,086.40 51.00 4.99 61.60 5,174.03 165.00 122.40 112,292.45 10,291.19 6,309.76 3,025.89 (10,291.19) 6,326.60 35.00 2,166.40 14.70 305.92 158.28 7,605.67 52.72 1,472.80 156.00 366.06 380.70 95.55 358.00 858.17 2,600.58	126,540.14 122.40 0.00 126,417.74 144,581.25
			(18,163.51)