Treasurer’s Report 01 April 2021 – 31 March 2022
Foreword
It has been another challenging year for Cylch Meithrin Aberystwyth with the continued circulation of Covid in our communities and the knock-on impacts this has had in terms of staff shortages, and Cylch having to close its doors on the following dates: from staff shortages, Covid increases and severe weather:
-
8/6/2021
-
25/11/2021
-
5/01/2022 – 7/01/2022
-
18/2/2022
Daily changes were implemented to ensure the setting is as safe as possible for the children and staff attending. Changes implemented were as follows -
-
Taking the children’s temperatures as they arrive at Cylch
-
Parents and staff to wear masks to drop off and collect children
-
Parents to drop off and collect children from the outside gate
-
Robust cleaning and sanitizing routine
When restrictions have allowed some measures have been dropped such as temperature checking and masks but other protocols remain in place and the Cylch is ready to reinstate as required.
Childcare Fees
- Given the pandemic and subsequent cost of living crisis, fees have not been raised this year but with increasing costs (particularly in relation to staffing and resources requirements) its highly likely this will need to be considered in the following reporting period.
.
Despite these many challenges during the Covid 19 pandemic aftermath, the Cylch has made a minor profit. However, without the generous award of grants the Cylch due to increased costs and reduced placement numbers would be in a substantial deficit this financial year. Balancing the additional cost burden with reduced placement numbers will be a substantial challenge in the coming year without access to relevant grants and support.
Grants
-
The Cylch was successful in gaining a £500 grant from Flying Start. Money was spent specifically on resources suitable for 2-3 year olds.
-
The Cylch was also successful in gaining a £500 grant from Mudiad Meithrin for broadband.
-
The Cylch was also able to receive a Healthy Pre- Schools grant of £86.11
-
The Cylch was successful on receiving £1,000 Sustainability Grant. The grant will pay for the extra staffing costs in order to maintain covid hygiene protocols.
-
The Cylch was also successful in gaining the small grants scheme childcare offer of £1626.41 for the provision of various equipment.
-
The Cylch was also successful in gaining the childcare provider support grant of £9,685 which has been used to support the sustainability of the Cylch finances following losses occurred during Covid and its aftermath.
The committee would like to express their most sincere thanks to the variety of organisations who have supported the Cylch this year without their generous support difficult decisions would need to have been made about the sustainability of the Cylch with inevitable reduction in staffing and increases in fees. It is with heartfelt thanks we acknowledge the benefits of the above grants.
Invoicing of parents remains a concern and due to time pressures of the volunteer committee it has not always been possible to invoice in advance. It should be a priority of the next committee to aim to invoice at the start of each half term to avoid bad debts.
Staffing: The Committee wishes to thank all contracted and bank staff for their patience during the last financial year and for their flexibility in the many challenges presented.
During this monitoring year there have been no substantive staff changes. The Cylch was subject to a Care Inspectorate Wales inspection in November 2021 and the report demonstrated the Cylch achieved levels of ‘Good’ across the 4 domains of Well-being, Care and Development, Environment, Leadership and Management. This represents that ‘These are services with strengths and no important areas requiring significant improvement. They consistently exceed basic requirements, delivering positive outcomes for children and actively promote their well-being.’
We would like to give a huge thanks to all members of staff for their hard work all through the year, it is very much appreciated by the committee.
Fundraising: Due to Covid-19 the Cylch was unable to host fundraising events in the way it previously had. Therefore, it concentrated its efforts on Grant Applications. However, a fundraising campaign of Sponsored Walks and Summer Auction raised some additional funds for the Cylch. Christmas cards were also sold to families and friends of the Cylch. The committee would like to thank the staff and a number of parents for helping out and donating for fundraising events carried out this year.
The Committee wish to also extend their thanks to the Cylch staff for their continued support and ongoing provision of high-quality childcare; and to the parents of the Cylch children for their continued support. Also, we would like to thank a number of local businesses for supporting the Cylch in their fundraising efforts over the past 12 months.
CYLCH MEITHRIN ABERYSYWYTH TREASURERS REPORT 2021-2022
REPORT
-
A. Balance & Bank Accounts
-
B. Profit/Loss of this accountancy period
-
C. Income & Expenditure
-
D. Fundraising Activities
i. Sponsored walks, ii. Christmas cards iii. Summer Auction
-
E. Suggestions for the future/ next year
-
F. Time series graphs of Cylch finances
CYLCH MEITHRIN ABERYSYWYTH TREASURERS’ REPORT
2021-2022
A. Balance & Bank Accounts
| Current Account (TSB) | |
|---|---|
| Balance of account at end of last accountancy period (1 April 2021) | £ 15,145.72 |
| Balance of account at end of this accountancy period (31 March 2022) | £ 18,193.36 |
B. Profit/Loss of this accountancy period
01 April 2021 - 31 March 2022 £3047.64
C. Income & Expenditure for this accountancy period (01 April 2021 - 31 March 2022)
| Income | |
|---|---|
| Fees | £22513.27 |
| The Childcare Offer for Wales+ Dechrau’n Deg/Flying Start (contracts from central or local government to deliver services) |
£31946.00 |
| Mudiad Grant | £500.00 |
| Sustainability Grant /Grant Cynaliadwyedd | £1,000.00 |
| Healthy Schools Grant | £86.00 |
| Small Grants Scheme for childcare offer | £1626.41 |
| Childcare Provider Support Grant | £9685.00 |
| Fundraising Activities | £1069.40 |
| Refunds | £152.35 |
| Total: | £68101.97 |
| Expenditure | |
|---|---|
| Staff | £49,577.70 |
| Food & Milk | £4069.19 |
| Infrastructure | £2057.60 |
| Resources | £5192.47 |
| Other – Courses, staff DBS | £1282.41 |
| Fee refunds | £127.75 |
| HMRC | £3223.67 |
| Total: | £65054.33 |
D. Fundraising Activities
i. Sponsored Walks / Cylchoedd yn Cerdded
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Money | £ 65.00 | N/A | £ 65.00 |
| Direct To Just Giving | £ 396.43 | N/A | £396.43 |
| BACS | £ 259.97 | £ | £ 259.97 |
| Total | £ 721.40 | £ | £ 721.40 |
ii. Christmas Cards / Cardiau Nadolig
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Money | £ 62.00 | N/A | £ 62.00 |
| Cheque | - | N/A | - |
| BACS | £ 36.00 | £ 36.00 | |
| Printing costs | - | £ 50 | -£50.00 |
| Total | £ 98.00 | £ | £48.00 |
iii. Summer Auction / Ocsiwn Haf
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Balloon Bloombay | £38.00 | Gifted in kind | £38.00 |
| Tocyn Cabarela | £12.00 | Gifted in kind | £12.00 |
| Patagonia Voucher | £11.00 | Gifted in kind | £11.00 |
| Un Tro | £16.00 | Gifted in kind | £16.00 |
| Traed Reflexology- | £12.50 | Gifted in kind | £12.50 |
| Cloc | £20.00 | Gifted in kind | £20.00 |
| Cake Topper | £14.00 | Gifted in kind | £14.00 |
| Print Eiry | £110.00 | Gifted in kind | £110.00 |
| Mudd Kitchen | £40.00 | Gifted in kind | £40.00 |
| Cacennau Melysion Mamgu | £35.00 | Gifted in kind | £35.00 |
| Total | £308.50 | £308.50 |
D. Summary of Fundraising Events
| Sponsored walk & donations | £662.90 |
|---|---|
| Christmas cards (December 21) | £ 48.00 |
| Summer Auction | £308.50 |
| Total: | £1019.40 |
E. Suggestions for the future/ next year
The following are suggestions for the next 12 months of Cylch Meithrin Aberystwyth:
-
Monitor fee payments to ensure prompt payment.
-
Monitor fee payments and staff wages on an on-going basis to ensure fees cover the costs of the childcare provision.
-
Ensure fundraising activities continue, targeted on cost effective options.
-
Apply for grants where available to augment resources. This is the area that can make the biggest impact financially to the running of the Cylch.
-
Look to reduce costs, where possible.
-
Seek to maintain a viable number of children attending the Cylch, across all three sessions.
-
Consider advertising for a paid role to carry out some treasurer duties (e.g. consider options for paying an annual retainer/ fee to a qualified accountant to undertake the annual report function).
-
Review and migrate bank service provider from TSB Business to CAF Bank. This provides greater services for charity organisations and access to a purchase card for Cylch staff. A purchase card will limit personal risk when buying consumable items for the Cylch and significantly reduce the administrative activity relating to reimbursement to staff.
From a more long-term perspective the Cylch is vulnerable as it entirely relies on volunteers to run a committee, this function is not ‘mild volunteering’ but requires dedication, financial expertise, safeguarding knowledge and a range of other skills. The work of the treasurer in particular is burdensome and beyond what can be realistically expected of untrained volunteers. This has potential for high concern should inadvertent or advertent errors be made in the - accounting. The Cylch is not a play group with a minor budget it is a business employing numerous staff with a high turnover and requires the requisite skills to manage it. The pool of available volunteers is generally sought from the parents of Cylch who by their nature work full time and are reliant on the child care it provides thus in a stage of life where time is precious. It is the view of this committee that the Council’s recommendations in the Ceredigion Childcare - Sufficiency Assessment 2022 (Childcare Sufficiency Assessment 2022 2027 (ceredigion.gov.uk)) are correct and that should organisations such as Cylch Meithrin Aberystwyth be sustainable in the long term then a greater role in the Finance, Inspections and Staff management needs to be taken by the parent organisation of Mudiad Meithrin.
F. Time Series Graphs of Cylch Finances
----- Start of picture text -----
Cylch Profit and Loss
£8,000.00
£6,000.00
£4,000.00
£2,000.00
£-
2017 2018 2019 2020 2021
£(2,000.00)
£(4,000.00)
£(6,000.00)
£(8,000.00)
Cylch Income and Expenditure 2017-2021
£80,000.00
£70,000.00
£60,000.00
£50,000.00
£40,000.00
£30,000.00
£20,000.00
£10,000.00
£-
2017 2018 2019 2020 2021
Income Expenditure
----- End of picture text -----
----- Start of picture text -----
Cylch Fundraising 2017-2021
£2,000.00
£1,800.00
£1,600.00
£1,400.00
£1,200.00
£1,000.00
£800.00
£600.00
£400.00
£200.00
£-
2017 2018 2019 2020 2021
----- End of picture text -----
----- Start of picture text -----
Cylch Grant Awards 2017-2021
£16,000.00
£14,000.00
£12,000.00
£10,000.00
£8,000.00
£6,000.00
£4,000.00
£2,000.00
£-
2016 2017 2018 2019 2020 2021 2022
----- End of picture text -----
Treasurers 2021- 2022
Sarah Groves-Phillips Sionna Hutton
Treasurer’s Report 01 April 2021 – 31 March 2022
Foreword
It has been another challenging year for Cylch Meithrin Aberystwyth with the continued circulation of Covid in our communities and the knock-on impacts this has had in terms of staff shortages, and Cylch having to close its doors on the following dates: from staff shortages, Covid increases and severe weather:
-
8/6/2021
-
25/11/2021
-
5/01/2022 – 7/01/2022
-
18/2/2022
Daily changes were implemented to ensure the setting is as safe as possible for the children and staff attending. Changes implemented were as follows -
-
Taking the children’s temperatures as they arrive at Cylch
-
Parents and staff to wear masks to drop off and collect children
-
Parents to drop off and collect children from the outside gate
-
Robust cleaning and sanitizing routine
When restrictions have allowed some measures have been dropped such as temperature checking and masks but other protocols remain in place and the Cylch is ready to reinstate as required.
Childcare Fees
- Given the pandemic and subsequent cost of living crisis, fees have not been raised this year but with increasing costs (particularly in relation to staffing and resources requirements) its highly likely this will need to be considered in the following reporting period.
.
Despite these many challenges during the Covid 19 pandemic aftermath, the Cylch has made a minor profit. However, without the generous award of grants the Cylch due to increased costs and reduced placement numbers would be in a substantial deficit this financial year. Balancing the additional cost burden with reduced placement numbers will be a substantial challenge in the coming year without access to relevant grants and support.
Grants
-
The Cylch was successful in gaining a £500 grant from Flying Start. Money was spent specifically on resources suitable for 2-3 year olds.
-
The Cylch was also successful in gaining a £500 grant from Mudiad Meithrin for broadband.
-
The Cylch was also able to receive a Healthy Pre- Schools grant of £86.11
-
The Cylch was successful on receiving £1,000 Sustainability Grant. The grant will pay for the extra staffing costs in order to maintain covid hygiene protocols.
-
The Cylch was also successful in gaining the small grants scheme childcare offer of £1626.41 for the provision of various equipment.
-
The Cylch was also successful in gaining the childcare provider support grant of £9,685 which has been used to support the sustainability of the Cylch finances following losses occurred during Covid and its aftermath.
The committee would like to express their most sincere thanks to the variety of organisations who have supported the Cylch this year without their generous support difficult decisions would need to have been made about the sustainability of the Cylch with inevitable reduction in staffing and increases in fees. It is with heartfelt thanks we acknowledge the benefits of the above grants.
Invoicing of parents remains a concern and due to time pressures of the volunteer committee it has not always been possible to invoice in advance. It should be a priority of the next committee to aim to invoice at the start of each half term to avoid bad debts.
Staffing: The Committee wishes to thank all contracted and bank staff for their patience during the last financial year and for their flexibility in the many challenges presented.
During this monitoring year there have been no substantive staff changes. The Cylch was subject to a Care Inspectorate Wales inspection in November 2021 and the report demonstrated the Cylch achieved levels of ‘Good’ across the 4 domains of Well-being, Care and Development, Environment, Leadership and Management. This represents that ‘These are services with strengths and no important areas requiring significant improvement. They consistently exceed basic requirements, delivering positive outcomes for children and actively promote their well-being.’
We would like to give a huge thanks to all members of staff for their hard work all through the year, it is very much appreciated by the committee.
Fundraising: Due to Covid-19 the Cylch was unable to host fundraising events in the way it previously had. Therefore, it concentrated its efforts on Grant Applications. However, a fundraising campaign of Sponsored Walks and Summer Auction raised some additional funds for the Cylch. Christmas cards were also sold to families and friends of the Cylch. The committee would like to thank the staff and a number of parents for helping out and donating for fundraising events carried out this year.
The Committee wish to also extend their thanks to the Cylch staff for their continued support and ongoing provision of high-quality childcare; and to the parents of the Cylch children for their continued support. Also, we would like to thank a number of local businesses for supporting the Cylch in their fundraising efforts over the past 12 months.
CYLCH MEITHRIN ABERYSYWYTH TREASURERS REPORT 2021-2022
REPORT
-
A. Balance & Bank Accounts
-
B. Profit/Loss of this accountancy period
-
C. Income & Expenditure
-
D. Fundraising Activities
i. Sponsored walks, ii. Christmas cards iii. Summer Auction
-
E. Suggestions for the future/ next year
-
F. Time series graphs of Cylch finances
CYLCH MEITHRIN ABERYSYWYTH TREASURERS’ REPORT
2021-2022
A. Balance & Bank Accounts
| Current Account (TSB) | |
|---|---|
| Balance of account at end of last accountancy period (1 April 2021) | £ 15,145.72 |
| Balance of account at end of this accountancy period (31 March 2022) | £ 18,193.36 |
B. Profit/Loss of this accountancy period
01 April 2021 - 31 March 2022 £3047.64
C. Income & Expenditure for this accountancy period (01 April 2021 - 31 March 2022)
| Income | |
|---|---|
| Fees | £22513.27 |
| The Childcare Offer for Wales+ Dechrau’n Deg/Flying Start (contracts from central or local government to deliver services) |
£31946.00 |
| Mudiad Grant | £500.00 |
| Sustainability Grant /Grant Cynaliadwyedd | £1,000.00 |
| Healthy Schools Grant | £86.00 |
| Small Grants Scheme for childcare offer | £1626.41 |
| Childcare Provider Support Grant | £9685.00 |
| Fundraising Activities | £1069.40 |
| Refunds | £152.35 |
| Total: | £68101.97 |
| Expenditure | |
|---|---|
| Staff | £49,577.70 |
| Food & Milk | £4069.19 |
| Infrastructure | £2057.60 |
| Resources | £5192.47 |
| Other – Courses, staff DBS | £1282.41 |
| Fee refunds | £127.75 |
| HMRC | £3223.67 |
| Total: | £65054.33 |
D. Fundraising Activities
i. Sponsored Walks / Cylchoedd yn Cerdded
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Money | £ 65.00 | N/A | £ 65.00 |
| Direct To Just Giving | £ 396.43 | N/A | £396.43 |
| BACS | £ 259.97 | £ | £ 259.97 |
| Total | £ 721.40 | £ | £ 721.40 |
ii. Christmas Cards / Cardiau Nadolig
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Money | £ 62.00 | N/A | £ 62.00 |
| Cheque | - | N/A | - |
| BACS | £ 36.00 | £ 36.00 | |
| Printing costs | - | £ 50 | -£50.00 |
| Total | £ 98.00 | £ | £48.00 |
iii. Summer Auction / Ocsiwn Haf
| Arian derbynnwyd/ Money received |
Cost/Costau | Profit/Elw | |
|---|---|---|---|
| Balloon Bloombay | £38.00 | Gifted in kind | £38.00 |
| Tocyn Cabarela | £12.00 | Gifted in kind | £12.00 |
| Patagonia Voucher | £11.00 | Gifted in kind | £11.00 |
| Un Tro | £16.00 | Gifted in kind | £16.00 |
| Traed Reflexology- | £12.50 | Gifted in kind | £12.50 |
| Cloc | £20.00 | Gifted in kind | £20.00 |
| Cake Topper | £14.00 | Gifted in kind | £14.00 |
| Print Eiry | £110.00 | Gifted in kind | £110.00 |
| Mudd Kitchen | £40.00 | Gifted in kind | £40.00 |
| Cacennau Melysion Mamgu | £35.00 | Gifted in kind | £35.00 |
| Total | £308.50 | £308.50 |
D. Summary of Fundraising Events
| Sponsored walk & donations | £662.90 |
|---|---|
| Christmas cards (December 21) | £ 48.00 |
| Summer Auction | £308.50 |
| Total: | £1019.40 |
E. Suggestions for the future/ next year
The following are suggestions for the next 12 months of Cylch Meithrin Aberystwyth:
-
Monitor fee payments to ensure prompt payment.
-
Monitor fee payments and staff wages on an on-going basis to ensure fees cover the costs of the childcare provision.
-
Ensure fundraising activities continue, targeted on cost effective options.
-
Apply for grants where available to augment resources. This is the area that can make the biggest impact financially to the running of the Cylch.
-
Look to reduce costs, where possible.
-
Seek to maintain a viable number of children attending the Cylch, across all three sessions.
-
Consider advertising for a paid role to carry out some treasurer duties (e.g. consider options for paying an annual retainer/ fee to a qualified accountant to undertake the annual report function).
-
Review and migrate bank service provider from TSB Business to CAF Bank. This provides greater services for charity organisations and access to a purchase card for Cylch staff. A purchase card will limit personal risk when buying consumable items for the Cylch and significantly reduce the administrative activity relating to reimbursement to staff.
From a more long-term perspective the Cylch is vulnerable as it entirely relies on volunteers to run a committee, this function is not ‘mild volunteering’ but requires dedication, financial expertise, safeguarding knowledge and a range of other skills. The work of the treasurer in particular is burdensome and beyond what can be realistically expected of untrained volunteers. This has potential for high concern should inadvertent or advertent errors be made in the - accounting. The Cylch is not a play group with a minor budget it is a business employing numerous staff with a high turnover and requires the requisite skills to manage it. The pool of available volunteers is generally sought from the parents of Cylch who by their nature work full time and are reliant on the child care it provides thus in a stage of life where time is precious. It is the view of this committee that the Council’s recommendations in the Ceredigion Childcare - Sufficiency Assessment 2022 (Childcare Sufficiency Assessment 2022 2027 (ceredigion.gov.uk)) are correct and that should organisations such as Cylch Meithrin Aberystwyth be sustainable in the long term then a greater role in the Finance, Inspections and Staff management needs to be taken by the parent organisation of Mudiad Meithrin.
F. Time Series Graphs of Cylch Finances
----- Start of picture text -----
Cylch Profit and Loss
£8,000.00
£6,000.00
£4,000.00
£2,000.00
£-
2017 2018 2019 2020 2021
£(2,000.00)
£(4,000.00)
£(6,000.00)
£(8,000.00)
Cylch Income and Expenditure 2017-2021
£80,000.00
£70,000.00
£60,000.00
£50,000.00
£40,000.00
£30,000.00
£20,000.00
£10,000.00
£-
2017 2018 2019 2020 2021
Income Expenditure
----- End of picture text -----
----- Start of picture text -----
Cylch Fundraising 2017-2021
£2,000.00
£1,800.00
£1,600.00
£1,400.00
£1,200.00
£1,000.00
£800.00
£600.00
£400.00
£200.00
£-
2017 2018 2019 2020 2021
----- End of picture text -----
----- Start of picture text -----
Cylch Grant Awards 2017-2021
£16,000.00
£14,000.00
£12,000.00
£10,000.00
£8,000.00
£6,000.00
£4,000.00
£2,000.00
£-
2016 2017 2018 2019 2020 2021 2022
----- End of picture text -----
Treasurers 2021- 2022
Sarah Groves-Phillips Sionna Hutton
Jane Griffiths Book Keeping Services 25" February 2023 Cylch Meithrin Abery5twyth Y Ganolfan Integredig Boulevard De Saint Brieuc Abefystwyth SY23 IPD To whom it may concern Cylch Melthryn Abewtwyth TasurerS. Report I have checked through the Treasurers. Report for 2021122 and can confirm that the figures entered are correctly reported. Yours Sincerely Joji Jane Griffiths MICB. Jane Grrffrths MICB 2 8ethel Chap•l Pen¢ader THE I%*TLTk_ nE LER TIFIEr) Carrns SA39 9AD Practice No.. 4S34 Tel: 01559 384187 Email: Jane¢riffithsuk@btinternet.com