2021-08-31-accounts

Stanton Drew & Pensford Preschool Annual Report: 1[st] September 2020 to 31[st] August 2021 Registered Charity Number: 1055041

The Aims of our Charity

Our charity provides high quality, affordable education and childcare for local families. We offer opportunities for high quality early learning, with lots of outdoor and forest school activities, to children aged between 2 years and 5 years old. We have a strong focus on the needs of the individual and in supporting each child’s development. We are committed to being a fully inclusive setting. We prioritise the wellbeing of staff. We are a voluntary run setting and proud to be a parent/committee led preschool.

Summary of Accounts for Financial Year Ended 31[st] August 2021

The accounts for this financial year show a significant loss of just under £9,000. This loss was created by two factors – one intentional and one exceptional. Preschool has sufficient reserve and other funds to cover this year’s loss and we do not currently need to move money from our savings account but may need to do so at some point in the next financial year to cover salary payments.

Intentional Spending of Surplus Funds

As stated in last year’s annual report, it was our intention during this financial year to make our current setting leader redundant, with her agreement, because the working pattern needed by preschool no longer aligned with the hours she was contracted to do. Having changed to a part time role, in order to take on family caring duties, she did not wish to change back to being a full-time setting leader, due to the workload involved. We therefore needed to make her redundant to create a full-time role.

Having tried to recruit a fourth staff member to work alongside the leader’s part-time role, it had become apparent that it would not be possible to find someone to take this on. The goal then became to replace the current setting leader with a full-time leader. We were successful in appointing our new leader, Nicky Sparkes, to this full-time post, and there was a handover period.

We had sufficient funds allocated in our Reserve Fund each year to make our previous setting leader redundant. It was voted on and agreed at a committee meeting in summer 2020 that we would offer her redundancy. The payment required was approximately £5,000, funds which had been set aside for this eventuality and now utilised.

With a second member of staff handing in her notice during this financial year, this meant that we could review and reallocate various aspects of staff roles. Our deputy has taken on the SENCO role, with our lead practitioner taking on the Admin role, in addition to running the setting. We are now fully staffed with 3 full-time members of staff, including a new apprentice who we are training up. All staff were given a pay rise in line with the % increase in the minimum wage in April 2021.

Exceptional Spending of Funds

Unfortunately, in September 2020, preschool was informed that the rental charge for the Village Hall was going to be increased, so that preschool would move from paying a daily discounted rate (the situation for over 40 years) to paying a full hourly rate for all the hours that we used the hall. Preschool was notified that this change would happen in the following increments:

Current rent (Aug 2020 – Aug 2021) @ £18 a day = £3,600 Aug 2021 - Aug 2022 @ £5p/h = £7125 Aug 2022 - Aug 2023 @ £8p/h = £11400

With the proposed rental increases representing a tripling of our rent, and with the figure of £11,400 being more than 10% of our total annual turnover, it was not possible for preschool to meet these rental increases. Committee undertook to try and persuade the Hall Committee to change their plans for the increase. A member of preschool committee was elected onto the Hall Committee to represent preschool, replacing the setting leader who had left. However, despite reaching out to various local stakeholders on the advice of BANES (including local primary schools, the parish council, and so on), we were unable to persuade the Hall Committee to change their minds.

A search for new premises was undertaken and fortunately preschool found suitable premises in a nearby location. Meetings were undertaken by the chair of committee and the setting leader with the management of Norton Malreward Hall. An agreement was reached to move the setting over the summer of 2021 at a daily rental of £25 for Monday to Thursday, with no charge for Fridays when the preschool go to forest club. A location for our new forest club was identified and agreed. An application was made to Ofsted by the Chair of Committee and Preschool was given the go ahead to move to the new premises.

In order for the new premises to be safe, it was necessary to increase the height of the wall, install railings and level the front garden area. It was agreed with the Hall Committee that preschool would contribute 50% of the cost, with the other 50% being met by the Hall. The cost of the railings to preschool was around £3,400, with another £500-£1,000 of moving costs incurred, including skip hire and repairs to our shed.

Current Financial Position

Preschool still has sufficient Reserve Funds to cover any situation in which the preschool might have to close, with all outstanding liabilities covered by this Fund. The Reserve Fund is recalculated annually to ensure that there would be sufficient funds in place to cover costs, particularly to pay any staff redundancies owing. Our Reserve Funds are in a deposit account to earn interest for the benefit of the Charity.

Our goals from last year

1. With a new setting leader recruited, we will look to support her in implementing her vision for the future of the setting.

This goal is currently underway and our new setting leader has settled in well and has introduced cookery and other new activities, including a daily walk.

1. An important goal this year is to ensure that the setting remains sustainable, in light of the situation with Covid-19. This should be a top priority.

By applying for furlough funds where necessary, due to lower numbers in the first term and over the lockdown period, and with increasing numbers of children in the summer term, preschool has remained sustainable in terms of income/expenditure (exceptional spending not included).

1. Find new committee members to replace outgoing members.

Committee members kindly stayed on during the pandemic period, attending virtual meetings to make decisions about preschool. We would like to thank them for their support during this difficult period.

1. Continue to develop the setting via staff training, applying for grants and purchasing new resources.

Due to the move and the pandemic, it has not been possible to do much in the way of fundraising. We have been focusing on ensuring all statutory training is up to date before considering other options. Staff did a major clear-out of old and damaged resources as part of the move.

1. Improve communication with the hall committee and come to agreement over a contract between ourselves and the hall.

See ‘exceptional spending of surplus funds’. Preschool was unable to come to an agreement with the Stanton Drew Hall Committee and has now moved premises.

Our goals for next year

1. Settle into the new premises and support the new setting leader in settling into the role. Advertising and publicity for preschool at the new premises.

2. Preparations for a likely Ofsted inspection due to our having a new registration and a new setting leader. Hold discussions about curriculum and ensure new premises are up to scratch.

3. Encourage parents to return to fundraising efforts and to raise £2,000 annually to ensure preschool is sustainable.

4. Develop the new forest club area.

5. Encourage new parents to join committee. Ensure committee maintains a quorum.

Sue Cowley, Chair of Preschool Committee October 2021

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