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