## **Treasurer’s Report September 2022-August 2023 (Academic Year 2022/23)** 

The year 2022/23 has seen some change for the setting, including a new Business Manager and new staff members but the team have responded well. The year started with some cautious accruals and a previously hesitant approach to staffing but with a strong opening position in August 2022 of     £68, 019 in reserve, the setting had flexibility to invest this period. Despite some one-off investments and increased staffing, we have maintained a healthy bank balance, closing the FY22/23 with £77624.75 in the bank. This is a very healthy position, the healthiest in over 2 years. Our bank balance remains commensurate with our reserves policy that we should hold between three and six months’ operating expenses. 

## **Income** 

- Income for the period totalled £128,348 which is up 24% up on the previous year. We had set the budget at £103,430 which was the previous year’s income and felt reasonable. The increased revenue was driven by an increase in new starters in the Summer term, resulting in increased funding from both NCC and parents. In this reporting year we moved to monthly invoicing of fees which helped smooth cashflow and we hope made payment easier for parents/carers. 

- In September 22 we increased the hourly fee payable by parents for unfunded hours to £5.25 (a 30p increase on the previous). This decision was taken in the previous period and was made to ensure the setting can continue to offer services to the community whilst supporting the required increases in expenses such as minimum wage and pensions. We made no other increases to fees this year 22/23. 

- Funding from NCC remained the same this year but nevertheless it allowed Playgroup to cover the costs of running the setting and some of the increases to our wage bill. Our biggest demographic currently is 30 hour funded 3 year olds. Hourly funding for 3 and 4 year-olds was £4.53 whilst funding for 2 yearolds entitled to it was £5.60/hour. 

   - We achieved over 90% occupancy this period with more than anticipated new starters joining from the new housing developments. This increase resulted in £6,000 more than budgeted in parent fees and £15,000 more than budgeted in funding from NCC. 

- Our wrap-around care offering saw increased interest after the Spring term making it financially viable.  As reported last year, standard afternoon sessions now finish at 4pm which gives many parents/carers the hours they require.  In the period 22/23 we ran a breakfast club which was used by up to 7 children and an afterschool club 4pm to 5pm used by up to 4 children.  This approach is working well and with increasing interest from parents/carers. We continue to review our wraparound care offer. 

## **Fundraising** 

- We always take a cautious approach to budgeting for fundraising but were particularly mindful of the cost of living and impact on people’s ability and 



willingness to support community activities this period. Therefore we budgeted £1,930. However, we ran another successful Ladies Night in November 2022 that raised £1,200. The Radcliffe Carnival generated another £191 and we continued to participate in the Radcliffe fireworks and the community café. These local events help to raise the profile of the Playgroup as well as raising funds. We also continued to offer hire of our Eco-Party kit and this period did some Easter crafting fun at the setting. All this helped to raise £2,574. Over £600 against our target. We are grateful as always for the generous community spirit. 

- In June 23 we were awarded a £500 grant from Localgiving in partnership with the Postcode Places Trust. This allowed us to cover increased utility bills whilst still investing in new ipads for staff to use in the setting. These new ipads ensured information could be entered accurately and in a timely manner, providing parents/carers with higher quality images, improving communication and building trust with the setting. 

## **Expenditure** 

- Expenditure this year was £116, 655 which was £8,083 adverse to budget. Staff wages were the biggest influence of this, adding £6,000 to the budge set out in September 2022. However it was accounted for with a re-forecast in March 2023 and was a deliberate decision in response to increases in National Living Wage and an additional head to support the increased occupancy. As National Living Wages increased we voted to increase wages of more senior staff to ensure wages continued to recognise skill and experience. 

- Utility costs were high this year, in line with national costs but only marginally higher than budget – Gas & Elec were £47 adverse 

- We have made some one-off investments this year in the comfort and safety of the setting as the cash reserves allowed. These included a defibrillator located inside the setting and new taps making it easier for children to use and decrease the risk of flooding. 

- Having achieved another increase in our reserves this year we are in a strong position for 23/24 where we expect to be able to make some bigger investments in the setting including roof repairs. 

## **Staff** 

- The staff and leadership team at Playgroup continue to be our biggest asset. The team have worked hard to maintain the care and attention that children and parents/carers have come to expect from Playgroup. This year Emma took on the full-time role of Assistant Supervisor doing a fantastic job of caring for the children and supporting June with work outside of the ratio in Playgroup for example committee meetings and event organisation. 

- This year we hired one new member of staff, Laura, who was Level 2 qualified. As Laura came from bank staff it left us a bit exposed but we were able to secure one additional bank staff member to give us flexibility in cover. 

- As previously highlighted, we have covered an increase in wages in line with national living wage requirements once again this year and a small uplift for 



managerial staff.  This will need to be looked at once again in 2023/24 and Committee will try to ensure that staff are paid and treated fairly in the light of all ongoing challenges 

- As in previous years we continue to seek opportunities to develop our team and have budgeted for ongoing training in the setting around working hours and in the agreed Inset Days 

## **Non-staff Expenditure** 

- Our overall spend on activity that was not linked to Staff was £17, 845, broadly flat year on year. For the vast majority of budget lines there was no significant unexpected spend or big variance to budget. The most significant variance was in Contractor Fees as Maintenance was £913 up on budget due to some one-off fixes required fixtures and fitting within the setting. 

## **Conclusion** 

- Net profit of £11,693 for 22/23 puts the Playgroup in a strong financial position. This is achieved in the context of a challenging economic climate at a macro level and some maintenance and staffing issues at a local level. The Management team work hard with the Committee to take a holistic view to spending to ensure we achieve the right balance of prudent cash control and maintaining the high level of care and service we are proud to deliver 

- The Committee commit to continued reviews of staff resource not just in headcount but in wages and development to ensure we remain an attractive local employer and invest in our people to retain them for the long-term benefit of children in our care 

- The budget for FY 2023/24 is agreed and in place and is currently tracking broadly in with expectation. There will be continued investment in building maintenance to make sure we provide safe and comfortable surroundings for children and staff but spend will be closely scrutinised by the Committee, with an eye on the cash reserve to ensure increased spending is sustainable and doesn’t risk the long term financial viability of the Playgroup 



## **Radcliffe on Trent Pre-School Playgroup Profit and Loss 1 September, 2022 - 31 August, 2023** 

||**Total**|
|---|---|
|**Income**||
|**Grants**|£500.00|
||**£2,574.**|
|**Total Fundraising**|**84**|
|**NCC Government**|£97,734.|
|**Funding**|88|
||**£25,263**|
|**Total Parent Fees**|**.87**|
||**£125,61**|
|**Total Non-Proft Income**|**0.59**|
||**£128,34**|
|**Total Income**|**8.91**|
||**£128,34**|
|**Gross Proft**|**8.91**|
|**Expenses**||
|**Total Activities &**|**£1,755.**|
|**Materialss**|**07**|
|**Administration**|£389.45|
|**Administration**|£163.88|
|**IT Purchases**|£647.99|
|**IT Repairs/Support**|£50.00|
|**Website**|£20.40|
|**Total IT Repairs/Support**|**£70.40**|
|**Mobile Phones**|£211.75|
|**Print Copies**|£195.79|
|**Printer Quarterly Rental**|£551.06|
|**Shredding**|£30.00|
||**£2,260.**|
|**Total Administration**|**32**|
|**Total Advertising**|**£29.27**|
||**£4,032.**|
|**Total Annual Fixed Costs**|**84**|
|**Building**||
|**Repairs/Maintenance**|£717.26|
|**Children's Equipment**|£98.64|
|**Children's T shirts**|£95.80|
||**£3,010.**|
|**Total Contractor Fees**|**18**|
|**Equipment Purchases &**|£1,546.7|
|**Repairs**|9|
||£3,965.1|
|**Food & Household**|0|
||£1,013.3|
|**Fundraising Spending**|7|
|**Grant Expenditure**|£361.08|
|**Gifts**|£22.00|
|**Total Other Expenditures**|**£22.00**|
|**Purchases**|£642.70|
|**Referred or Refunded**||
|**Fees**|£59.75|
||**£5,290.**|
|**Total Services**|**29**|
||**£91,743**|
|**Total Staf**|**.85**|
|**Sundries**|£2.07|
|**Uncategorised Expense**|£8.99|
||**£116 65**|





TMISY
Radcliffe on Trent Pre-school Playgroup
Profit and Loss
1 September, 2022- 31 August, 2023
Totsl
Incom•
Grants
Non-Profit In¢om*
Donatlons
Funthalslng
E¢0 Part￿aT0 Hlr•
Fireworks FioSt•
1,159.76
70.IXS
230.00
Ladi•$ Night
Stlkln• ¢ommi$$ton
1.065.08
Total Fundrai¥ing
mis￿11an80vS Ido18todl
NCC Government Fundlng
Parent Feos
2.574.84
97,734.88
150.00
8•rvleo8
25,113.87
Total Parent F••$
2S,263.87
125,610.59
2.212.83
Total N•n.Profrt IrKome
R¢lunds
Unapplled Cash Paymtnt Incorn•
T+)tal Incomo
25.49
128.348.91
Gros¥ Profft
128.348.91
Expèm*es
Actlvltl¥$ & Materfals
849.19
DAF and EYPP Expondttum
Total Actl¥ltle8 & Materials
905.88
1.755.07
389.45
ministration
Admln58tratlon
163.88
IT Purcha¥•s
647.99
IT R•palrslSupport
Website
50.00
20.40
Total IT Rèpairslsupwl
Moblle Phon•¥
70.40
211.75
Print Copigs
Printsr Quarterty R•ntal
Shr•ddino
Total Admlnlstratlon
195.79
551.06
30.00
2.260.32
Adv9rllslng
Promotlonal Matwlal$ and MverU8lng costs
Total Adv•rt181ng
Annual Flxad Costs
29.27
29.27
401.79
Ico
35.00
Payroll NEST
PPLPRS Mu81c Lkon
270.00
118.39
Publlc Llablllty ln6urnn￿ Inc EYA mombarship
Qulckbooks Sybs¢dptlon
Tapostry
2,965.26
72.¢)D
170.40

Totsl Annual Fixed Costs
4,032.84
717.26
Buildlng R•palrslMalnt8nanc•
Childr•n's Equlprn•nt
Chlldron's T shlrt#
95.80
Contrathr Fms
382.80
Ar Condlllonlng
8uilding Maint•nan¢• and E4ylpm•nt
Fire Equipm•n¢ Chec
Cultlng
Leglonolla
PAT T•stlng
Trtsl C¢)ntra¢tor Fo05
187.20
1,884.58
133.80
270.00
118.80
3,010.18
Equlpmont Purchas08 & R¢palrs
Food & HouMh¢ld
1.546.79
3.￿5.10
Fundral$lng Spondlng
Grant EXpondI￿rg
Oth•r Expondttures
1,013.37
361.08
22.tM)
Total other Exp8ndltur•s
Purcha808
22.00
642.70
Raf8￿&d or R•lunil•d F898
59.75
S•rvlce8
1,&19.52
Bln ¢o11g¢tlon
736.9
G•• & EI•¢triGIty
L•ndllne and Irrternot
2,169.29
574.49
Totsi $grvI￿%
5,29029
1,912.34
S04.27
Stsft
DBS & Updats SeThl¢o
DWP
43.71
P•n$lon PaJTr•nt
Tax&NI
3.￿.40
4,850.16
252.10
Tralnlng
Vnllom
44.01
Wag•g Ilncludlng Tax & Nll
Totsl Staff
81,053.86
91.743.85
Sundrlo8
2.07
Uncate9or586d Expons•
Total Expgnsoo
Not Opvraiing In¢om•
N•¢ In¢om•
8.99
116.655.37
11.693.54
11.693.54
Bank Balanc8 at 1 S¢ptemb8r 2022
Bank B•l•n¢o at 31 August 2023
£65,931.21
£77,624.75
TOTAL NET PROAT
£11,693.54

CHARITY COMMISSION
FOR ENGLAND AND WALES
Independent examlnerfs report on the
accounts
Section A
Independent Examiner's Report
Report to tho trustoes
QAbCuF&é￿Z(Lftrf fEE-S￿00L PLAY6RouP
318f4u6usr2023
On accounts for the year
ended
Charity no
(if any)
Set out on pagos
I reporl to the Irustees on my examination of the accounts of the abov8
charity {"Ihe Trust'} for the year ended
Responsibllltle$ and
basls of report
As the chariws tnjstees, you are responsible for the preparation of the
accounts in acci)rdance with the requirements of the Charities Act 2011
Ilhe 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(51{b} of the Act.
Independent trhe charity's gross income exceeded £250,000 and l am qualified to
axaminerfs statement undertaka thè examination by being a qualified member of linsert name of
applicable listed bodyjl. Deletg [ l rf not applicable.
I have compleled my examination. I confimi Ihat no material matters have
come to my attention in conne¢tion with the examination (other than that
disclosed below.) which gives me cause to believe that in, any material
respecl..
the accounting re￿rdS were not kepl in a￿ordanCe with section 130
of the Charities Act-, or
the accounts did not accord wf(h the accounling records. or
the accounts did not compty with the applicable requirements
concerning the form and content of accounts set out in the Charities
{Ac¢ounts and Reports) Regulations 2008 other than any requirement
that the accounts give a 'true and fair, view which is not a matter
considered as part of an independent examination.
I have no concems 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.
. Please delete the words in the brackets rfthgy do not appty.
Slgned:
Date:
Name:
Relevant professlonal
qualifi&*ion{sl or body
IER
Oct 2018

lif any):
Address:
61
Ll
12 2
£oAb
Section B
Disclosure
Only complete rf the examiner needs to highlight material matters of concern
(see CC32, Independent examination of charity accounts.. directions and
guidance for examiners).
Give here brief detalls of
any items that the
examlner wishes lo
disclose.
IER
Oct 2018