CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examinerfs Report Report to the trusteesl members of Odiham Pre-school (Leapfrogs) On accounts for the year ended 31 August 2023 Charity no (rf any) 1(119 Set out on pages The following pages I report to the trustees on my examinab.on of the accounts of the ab)ve chanty (Ihe Trusf) for the year ended 31108r2023 Responsibilities and As the charity trustees of the Trus( you are responsible for the preparation basis of report of the accounts in accordance v1 the requirements of the Chanties Act 2011 fthe Acr). I report in resped of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carryirKJ Out my examinab"on. I have followed the applicable Direth"ons given by the Charty Commission under sedion 14515)(b) of the Ac I have completed my examinab"on. I confirm that no material matters have come to my attention (other than that disclosed below ") in connectK)n with the examination which gives me cause to tlIeVe that in, any material respect accounting records We not kept in aCc(Kdan wth secion 130 of the Act or the accourrts do not accord the accountirKJ records Independent examinerfs statement I have no cOnmS and have come acxoss rK) other matters in connedion wrth the examination to which attention shoukl tE drawn in order to enable a proper understarKlirKJ of the accounts to be a(led. . Please delete the vths in the l>fxkets rf they do nc* ath. Signed: Date: 27 Juty 2024 Name: crNe Denis Manby Relevant professlonal qualification(s) or body (If any): B.Com. CA (SA) Address: 25 TrthirKJ Road, ElvetheJn Heath. Fleet. Hampshire GU 51 1GG
Section B Disclosure Only complete rf the examiner needs to highlight matters of conrn (see CC32, Independent examination of chanty accounts: directions and guidance for examiners). Whilst Leapfrogs is not legally required to report on an 'accruals' basis due to income levels, Management prefers to adopt the 'accruals' basis of preparing the financial statements for control purposes. Give here brief details of any itoms that tho examiner wishes to disclose. Due to the extemal involvement by Quicktx>oks expert, certain minor anomalies were identified and corrected giving rise to minor variances on previously reported comparatives and delays in submission of financial statements. These were however negligible and system enhancements have duly been introduced for future. In summary I believe that accounting records are kept in accordan with section 130 of the Act and there no unresolved matters of concem.
FINANCE REPORT by Lucy Hyde
A copy of the finalised and signed accounts for 2022/2023 is attached to the Annual Report.
INTRODUCTION to the year 2022/2023
During the year 2022/2023 Leapfrogs Pre-school had a change in Chairman, Office Manager and Treasurer (Treasurer was passed over twice within 6 months). During the changeovers, it came to light that there were some minor discrepancies to the comparitives.This, along with some miscommunication of handovers, led to a delay in finalising the accounts for 2022/2023 Charity Commission annual return.
The Treasurer and Office Manager agreed it was best to employ external help of Business Buddies who are proficient in the software we use (Quickbooks) and have helped Leapfrogs with the discrepancies. Many difficulties were overcome, including an issue with the reporting of petty cash.
In my report below, there will be a difference in some of the figures that were reported in the years 2021/2022. However, these are minor differences and a new Expense category ‘Bad debts’ has been introduced to allow for these discrepancies. Another category of ‘Deprivation funding’ has been introduced to show the costs involved to help enhance the lives of less privileged children at Leapfrogs.
Just to clarify, whilst we are not legally required to report on an ‘accruals basis’ due to income levels, we prefer to adopt the accruals basis of preparing the financials for control purposes.
REPORT
In 2022/2023 the finances turned less favourable compared to the previous year with a substantial change in income and expenditure. The net income had a loss of £3,967, which is a £10,190 decrease from 2021/2022.
Total Income for the year was £183,275, an decrease of 5.5% on the previous year. Early Years Grants (EYGs) were down by 0.15%% to £129,098 – a decrease of £200 on the previous year.
Fees received decreased by 19.2% compared to the previous year – a decrease of £10,341 to £43,941.
EYGs and Fees combined accounted for 94.5% of our income. The remainder came from donations, fundraising and grants.
Total Expenditure for the year was £187,242 a decrease of 0.2% on the previous year Our overall costs remained similar to 2021/2022, despite a 1.5% decrease in payroll expenses (£154,723 in 2021-2022 vs £156,791 in 2020-2021). It should be noted that expenditure in 2021/2022 was relatively high due to the increase of gas and electricity prices.
A significant movement on the Balance Sheet relate to Cash The overall cash position has decreased by £8,900 to £83,282 – a decrease of 9.7%.
Since taking on the role as Leapfrogs Treasurer in March 2023 and noticing the discrepancies I now feel Leapfrog accounts are in a better position and the adequate training has been given to continue providing accurate reporting. We also have a better petty cash procedure and there is very good communication between the Treasurer (myself) and Office Manager (Tracy Bodimeade).
I would like to thank Tracy Bodimeade, the staff and the committee for their continued hard work. Also, many thanks to Clive Manby for once again reviewing and finalising the accounts. It is Clive’s final year helping Leapfrogs with the Charity Commission annual return and his continued efforts and support have been very much appreciated.
Odiham Pre-School (Leapfrogs)
Balance Sheet
As of August 31, 2023
| TOTAL | |||
|---|---|---|---|
| AS OF AUG 31, 2023 | AS OF AUG 31, 2022 (PY) | ||
| Fixed Asset | |||
| Tangible assets | |||
| Equipment & Materials | |||
| Depreciation | -2,000.00 | -2,000.00 | |
| Original Cost | 2,000.00 | 2,000.00 | |
| Total Equipment & Materials | 0.00 | 0.00 | |
| Total Tangible assets | £0.00 | £0.00 | |
| Total Fixed Asset | £0.00 | £0.00 | |
| Cash at bank and in hand | |||
| Lloyds TSB Current Account | 37,782.74 | 47,130.54 | |
| Lloyds TSB Deposit Account | 45,281.30 | 45,051.66 | |
| Suspense account | 217.50 | ||
| Total Cash at bank and in hand | £83,281.54 | £92,182.20 | |
| Debtors | |||
| Accounts Receivable | 1,834.19 | -4,739.45 | |
| Total Debtors | £1,834.19 | £ -4,739.45 | |
| Current Assets | |||
| Petty Cash | 398.44 | 1,148.91 | |
| Provision for Bad Debts | -300.00 | -300.00 | |
| Total Current Assets | £98.44 | £848.91 | |
| NET CURRENT ASSETS | £85,214.17 | £88,291.66 | |
| Creditors: amounts falling due within one year | |||
| Trade Creditors | |||
| Accounts Payable | 3,430.95 | 249.82 | |
| Total Trade Creditors | £3,430.95 | £249.82 | |
| Credit Cards | |||
| PayPal | 30.88 | ||
| Total Credit Cards | £30.88 | £0.00 | |
| Current Liabilities | |||
| Payroll Liabilities | 0.00 | 0.00 | |
| HMRC | -621.20 | 0.00 | |
| Total Payroll Liabilities | -621.20 | 0.00 | |
| Total Current Liabilities | £ -621.20 | £0.00 | |
| Total Creditors: amounts falling due within one year | £2,840.63 | £249.82 | |
| NET CURRENT ASSETS (LIABILITIES) | £82,373.54 | £88,041.84 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | £82,373.54 | £88,041.84 | |
| TOTAL NET ASSETS (LIABILITIES) | £82,373.54 | £88,041.84 | |
| Capital and Reserves | |||
| Opening Bal Equity | 9,219.44 | 10,818.82 | |
| Payroll discrepancies | -102.00 | ||
| Retained Earnings | 77,223.02 | 70,999.90 | |
| Profit for the year | -3,966.92 | 6,223.12 | |
| Total Capital and Reserves | £82,373.54 | £88,041.84 |
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Tuesday 16 July 2024 08:55 pm GMT+01:00
Odiham Pre-School (Leapfrogs)
Financial Activities Comparison
September 2022 - August 2023
| TOTAL | |||
|---|---|---|---|
| SEP 2022 - AUG 2023 | SEP 2021 - AUG 2022 (PY) | ||
| Income | |||
| Bank Interest | 229.64 | 5.64 | |
| Fees Receivable | 43,940.50 | 54,281.77 | |
| Sale of Uniforms | 67.00 | 544.50 | |
| Services | 3.50 | -35.17 | |
| Uncategorised Income | 144.19 | ||
| Unrestricted Income | |||
| Donations - Consumables | 5,144.17 | 3,150.75 | |
| Early Years Grants | 129,097.58 | 129,298.34 | |
| Fundraising | 2,159.00 | 3,402.64 | |
| Gift Aid | 939.25 | ||
| Grants and Donations | 1,550.00 | 3,224.06 | |
| Total Unrestricted Income | 138,890.00 | 139,075.79 | |
| Total Income | £183,274.83 | £193,872.53 | |
| GROSS PROFIT | £183,274.83 | £193,872.53 | |
| Expenses | |||
| Bad Debts | 855.76 | 518.39 | |
| Bank Charges | 92.35 | 70.00 | |
| Children's Food Items | 3,193.49 | 2,416.44 | |
| Children's Outings | 150.00 | ||
| Children's Party Expenses | 700.27 | 681.46 | |
| Classroom Consumables | 516.07 | 35.63 | |
| Classroom Equipment | 5,151.67 | 6,814.80 | |
| Cleaning | 1,742.81 | 2,760.70 | |
| Communications | 779.81 | 770.21 | |
| Deprivation funding | 30.00 | ||
| Entertainment | 145.65 | ||
| Equipment from Fundraising | 112.92 | 1,980.07 | |
| Fundraising Expenses | 236.68 | 595.98 | |
| Health & Safety | 298.52 | 1,414.92 | |
| Insurance | 1,872.08 | 1,590.94 | |
| Light & Heat | 4,947.89 | 3,503.40 | |
| Payroll Expenses | 154,722.62 | 156,790.44 | |
| Payroll Service | 57.22 | 30.24 | |
| Pets | 906.28 | 296.57 | |
| Printing & Office Supplies | 4,928.37 | 3,036.00 | |
| Rent, Rates & Water | 1,351.53 | 1,394.98 | |
| Repairs & Maintenance | 2,500.74 | 2,004.08 | |
| Sundry Expenses | 79.23 | 76.64 | |
| Teaching Aids | 271.24 | 90.00 | |
| Training - Staff | 1,392.65 | 489.22 | |
| Uncategorised Expenditure | 0.00 | ||
| Uniforms | 205.90 | 288.30 | |
| Total Expenses | £187,241.75 | £187,649.41 | |
| NET OPERATING INCOME | £ -3,966.92 | £6,223.12 | |
| NET INCOME | £ -3,966.92 | £6,223.12 |
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Tuesday 16 July 2024 08:16 pm GMT+01:00
0310812024 Odiham Community Pre-school (Leapfrogs) Chairperson's Report - 2022-2023 It has been another busy year for the staff and children at Leapfrogs, with many successes to celebrate. Tracy and her team have introduced new initiatives, as well as building on and developing existing practices all of which are hugely appreciated by the children in their care and their families. Within the setting, staff are supporting a small number of children with additional needs and one EAL student. In addition to this, Chatter Club, nm by Claire our SENCO was established as ordinarily available provision for all leamers who would benefit from support with communication; speech assessments carried out as part of this have been a helpful starting point. The preschool continues to play a visible part in the life of the village, through a presence at village celebrations and fundraisers, and as always, we are grateful for the support of local businesses and their contributions to our fundraising efforts. Of note is the Tadpoles group, run on a Friday morning in the Teddy classroom, which has proven popular all year. Through the year, several events run at All Saints, Odiham, have been very successful, with children having the chance to take part in Auturnnal crafts, their much -anticipated Nativity play, and enjoying an Easter Bonnet parade and Easter Egg hunt. Enrolment The preschool continues to grow in popularity, and the numbers in Caterpillar class were strong from the beginning. While Teddy class numbers were initially lower, morning sessions filled up during the year, and afternoon sessions were healthy too. We are anticipating a waiting list for Teddy class in 23124 academic year.
Staff I would like to take this opportunity to refl¢ct on the wond¢rful staff that work at L¢apfrogs. Children and parents alike are extremely w¢ll-support¢d by ¢nihusiastic. caring, diligent staff who take real care lo ensure that the young people in their care grow and develop. The Learning Journals that they produce are a real point of difference between Leapfrogs and other pre-schools, providing children with a beautiful record of their development ihrough the setting. Thank you to Tracy and her leam for continuing this labour of love, which often involves staff giving of their own time beyond paid hours. Tracy and her staff should also bc congratulated for two successful regulatory visits -in September the Hampshire County Council 'Sharcd Conversation, annual inspection occurred and excellent feedback was given in all areas. Ofsted visited in May, and rated the setting 'Good' recognising many of the achievements of the statT including praising the way staff encourage independence, social and communication, healthy eating and good behaviour. Tracy was praised for her support of staff well-being. Buryfields Infant School teachers also acknowledged the school-readiness of Leapfrogs pupils who are notably well- prepared for the transition to school. Further staff training has taken place with Larisa Bodimeade and Helen Crompton both achieving distinctions in their Level 3 qualification. Following on from Natalie's departure as oftTice manager. Tracy has been carrying out the dual roles as Pre-school Head and carrying out many administrative tssks. Congratulations and thank you to all of the Leapfrogs staff for the many things they do. Fundraising During the year consumables increas¢d to £29.50. The number of parents paying this incr¢ased as th¢ year continued. but further consideration will be given to this in the next academic year to encourage all parents lo recognise the role this plays in pre-school and contribute accordingly. In October. a fundraising group was set up to try and increase the number of parents who are able to offer their time for fundraising events. Some fundraising was carried out throughout the year at key village events and Leapfrogs events, but it is recognised thal a fundraising lead would be beneficial, which happily Rebecca Goddard has agreed to become, to make more of this opportunity in the nexi financial year. Buildings and Grounds Mainlaining the buildings and outside areas continues to be a challenge. Some parents offered help at a wunds day, but numbers were disappointing. Hopefully in the next academic year more parents can assist in sprucing up where necessary.
Finances Many thanks firstly to Jenny Pateman for her tireless efforts as treasurer for a number of years. She passed the baton to Paul Butler, who then handed over to Lucy Hyde. Many thanks to Lucl"fr)r, 4 ¥éFi6é to pick up this role, As reflected in the Treasurer"s r - brf,ithe multiple handovers lead to some difficulties with accurate reporting, but this has now been addressed will not be an issue going forward. Future Coming to the end of the 2022/23 academic year, we look with some trepidation towards the prornised expansion of free childcare hours for 2 year olds. It is difficult to predict what impact this will have on the setting, both in terms of a potential decrease of income through reduction in fees versus funded hours, and also how we adapt to a potential increase of enrolment requests from 2 year olds who would not be ready to move up to Caterpillar in their second year. This is something we must be mindful of as we increase fees, and will seek to gather more infornlation and advice from Hampshire County Council when it is available. Sarah Campbell Chairperson 0310812024