14[th] October 2024
Upton St Leonards Playgroup & Preschool AGM
Treasurers Report
The setting has had another sound year financially in 2023/24, building on a continued year on year profit, but reporting a reduced overall net profit in 23/24 of £9.5k (compared to £25k in 22/23.) This is driven by a sustained increase in staff costs as result of a significant rise in National Living Wage and NI and pension contributions. Staff numbers remain the same with no current vacancies.
Numbers remain fairly static across playgroup and preschool, although playgroup has capacity to increase numbers due to use of Annex space. There was slight reduction in EYFS funding from GCC but negated by slightly higher income from fees. The setting also noted a reduction in deprivation and SEN funding from GCC reflective of the current playgroup/preschool cohort needs. The setting anticipates this will change from 24/25 as the EYFS funding will be more accessible to more families. The committee had agreed to retain fees at current levels during 23/24 but would look to review in 24/25 should the National Living Wage etc continue to rise at similar levels.
Overall expenditure, other than staffing, has remained broadly in line with 22/23, with a slight increase in cost of materials. Rent has slightly increased this year given the increased number of sessions in the annex building and a minimal uplift in the hourly rate because of utility bill increases.
There has been a noted reduction in fundraising, but this was due to planned reduction in activities in 23/24 given the success of previous years and continued financial stability. The setting completed 2 fundraising sponsored events which raised £1.5k. It is proposed a fundraising schedule is developed with a parent/carer fundraising group for the 24/25 academic year, as the setting plans to spend a proportion of the current fundraising savings on the implementation of the Forest School, Trim Trail and Digging Pit areas which will cost circa £30k. This proposal has been supported by the village hall trustees in principal and they have also suggested a contribution towards the cost of the replacement fencing and gates.
At the time of the accounts being prepared the setting had £92k cash at the bank, across both the current and savings account – with approx. £35k in the savings account.
The Treasurer notes that the insurance cost for 23/24 was coded in Quickbooks incorrectly at the time of preparing the accounts and the cost (£500) was included within the overall direct expenses. This is a slight increase in cost due to additional cover being added to the policy for trustee liability cover.
The setting looks to be going into 24/25 financial year in a strong position, noting that the setting continues to save profits to ensure we have £25k contingency in the bank, as per the constitution, but rising staff costs have started to become a pressure. The setting is considering restructuring its playgroup and preschool offer in 24/25, which will reduce playgroup sessions, but increase preschool sessions, which are often near capacity and are mostly attended by children funded by EYFS government funding. This will be undertaken within current staffing roles but may impact work patterns and potentially incur some additional costs that should be mitigated by additional funding income.
Upton St Leonards Playgroup
UNAUDITED ACCOUNTS for the year ended 31 March 2024
Brothertons Accountants Ltd
Commercial House, 2 Abbeymead Avenue, GLOUCESTER, Gloucestershire, GL4 5UA, United Kingdom
Upton St Leonards Playgroup
Report to the proprietor on the preparation of the unaudited accounts of Upton St Leonards Playgroup
Year ended 31 March 2024
In accordance with your instructions, I have compiled the accounts on the following pages from the accounting records and from information and explanations supplied to me.
I have not carried out an audit or any other review, and consequently I do not, therefore, express any opinion on the accounts.
Brothertons Accountants Ltd
Commercial House 2 Abbeymead Avenue GLOUCESTER Gloucestershire GL4 5UA United Kingdom
1
Upton St Leonards Playgroup
Year ended 31 March 2024
| Note Turnover 2 Cost of sales 2 Gross proft Expenditure 2 Premises costs Staff costs Offce costs General expenses Finance charges Proft for the year |
2024 £ 147,276 22,120 |
2023 |
|---|---|---|
| £ | ||
| 145,032 | ||
| 20,248 | ||
| 125,156 12,684 101,921 628 300 84 |
124,784 | |
| 12,058 | ||
| 85,479 | ||
| 838 | ||
| 1,009 | ||
| 116 | ||
| 115,617 | 99,500 | |
| 9,539 | 25,284 | |
2
Upton St Leonards Playgroup Balance Sheet
31 March 2024
| Note Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank Current liabilities 5 Net current assets Net assets Financed by: Capital account 6 |
2024 £ 2,976 1,842 90,209 |
2023 |
|---|---|---|
| £ | ||
| 2,976 | ||
| - | ||
| 82,665 | ||
| 92,051 (3,617) |
82,665 | |
| (3,770) | ||
| 88,434 | 78,895 | |
| 91,410 | 81,871 | |
| 91,410 | 81,871 | |
3
Upton St Leonards Playgroup
Notes to the Accounts
Year ended 31 March 2024
1 Accounting policies
BASIS OF PREPARATION
The accounts have been prepared under the historical cost basis and on a basis which enables the profits to be calculated in accordance with United Kingdom Generally Accepted Accounting Practice.
TANGIBLE ASSETS
Tangible assets are measured at cost less accumulated depreciation. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.
2 Profit and loss account analysis
TURNOVER
| Nursery Education Funding Childrens fees Fundraising Other receipts |
2024 £ 110,394 34,989 1,515 378 |
2023 |
|---|---|---|
| £ | ||
| 112,480 | ||
| 30,199 | ||
| 2,242 | ||
| 111 | ||
| 147,276 | 145,032 | |
COST OF SALES
| Materials | 2024 2023 £ £ 22,120 20,248 |
2024 2023 £ £ 22,120 20,248 |
|---|---|---|
| 20,248 | ||
4
Upton St Leonards Playgroup
Notes to the Accounts (continued)
Year ended 31 March 2024
EXPENDITURE
| Premises costs Rent Staff costs Wages and salaries Offce costs Administration costs General expenses Training costs General insurance Finance charges Bank charges |
2024 £ 12,684 |
2023 |
|---|---|---|
| £ | ||
| 12,058 | ||
| 2024 £ 101,921 |
||
| 2023 | ||
| £ | ||
| 85,479 | ||
| 2024 £ 628 |
||
| 2023 | ||
| £ | ||
| 838 | ||
| 2024 £ 300 - |
||
| 2023 | ||
| £ | ||
| 703 | ||
| 306 | ||
| 300 | 1,009 | |
| 2024 £ 84 |
||
| 2023 | ||
| £ | ||
| 116 | ||
5
Upton St Leonards Playgroup
Notes to the Accounts (continued)
Year ended 31 March 2024
3 Tangible assets
| Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Net book value At 31 March 2024 At 31 March 2023 |
Fixtures and fttings £ 2,976 |
|---|---|
| - | |
| 2,976 | |
| 2,976 |
4 Debtors
| Trade debtors 5 Current liabilities Trade creditors |
2024 2023 £ £ 1,842 - |
2024 2023 £ £ 1,842 - |
|---|---|---|
| - | ||
| 2024 2023 £ £ 3,617 3,770 |
||
| 3,770 | ||
6
Upton St Leonards Playgroup
Notes to the Accounts (continued)
Year ended 31 March 2024
6 Capital account
| At 1 April 2023 Net proft for the year At 31 March 2024 |
2024 £ 81,871 9,539 |
2023 |
|---|---|---|
| £ | ||
| 56,587 | ||
| 25,284 | ||
| 91,410 | 81,871 | |
7
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustees Upton St Leonards Playgroup On accounts for the year ended 31st March 2024 Charity no (if any) 1053965 Set out on pages I report to the trustees on my examination of the accounts of the above charity (llhe Trust.) for the year ended 3110312024. Responsibilities and bagis of report As the charity's trustees, you are responsible for the preparation of the accounts in accordan 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 carying 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 (other than that disclosed below ") which gives me cause to believe that in, any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act" or the accounts did not accord with the accounting records" or the accounts did not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf 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 rf they do not apply. Signed: Date: 2310812024 Name: Laura Pitt Relevant professional qualification(s) or body (if any): FCCA Address: Brothertons Accountants, Commercial House, 2 Abbeymead Avenue, Oct 2018 IER
GIOUSter, GL4 SUA Section B Disclosure Only complete if the examiner needs to highlight material matters of conrn (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER Oct 2018