Treasurers Report 2021 - 2022
REPORT FOR THE YEAR ENDING 31 AUGUST 2022
Summary of the year-
Looking back at the finances over the last year, Preschool has seen a financial gain of £7,405.96. This is compared to the year before where we saw a gain of £9,516.
This has now balanced Preschool after a trying couple of years of closures due to Covid where we saw a financial loss of £16,557.
The income for the year was £72,306 compared to £77,316 the year before. The previous year’s increase was mainly due to improved occupancy, which we have continued to see since covid/ coming out of lockdown.
Costs this year were £76,687 compared to £67,545 last year and £83,896 the year before. Over £5,500 of these costs were spent on the building and maintenance e.g., new garden decking and the much-loved play loft!
Fundraising-
Fundraising income for the year was £11,752 which is a huge increase from £229 from the year before. This was due to our fantastic turn out at the Bonfire Night as well as the Wreath making workshop, Christmas raffle, Race Night fundraiser and summer raffle too – it has been a brilliant year for fundraising!
As a committee we should aim to continue with the few annual/ larger events that raise a substantial amount of money to keep Preschool afloat. This also limits how much time we will ask committee members, parents, staff etc to give up planning and helping out at events.
The year ahead-
The lease agreement that the Preschool has with the local authority and the primary school (for leasing the preschool land and walkway access) remains due for renewal. We first instructed a solicitor to chase this for us in September 2017, yet we still haven’t had a draft lease yet. We as the committee will need to support these discussions as they develop to ensure that any risk of higher rental costs is minimised.
With the cost-of-living crisis expected to get worse over the next year, we must keep on top of utility bills, and other expenditures to ensure the financial stability of Preschool. We have recently reviewed wages to coincide with the cost-of-living crisis but have seen there will be another big increase to national minimum/ living wage in April 2023. With the funding rate (£4.36 per hour not set to increase to reflect the hard times ) we, as a committee we may need to review the charging of fees in the New Year depending on our incomings/ outgoings.
In summary, we need to continue monitoring spending and thinking smartly about ways to minimise costs as well as focussing on planning some great and exciting fundraising events!
HARTEST PRE-SCHOOL ¢EAR¥IIIQ TMNOV¢H PLAY Treasurers Report 2021 - 2022
Management Report
Hartest Pre-school
For the period ended 31 August 2022
Prepared by Early Years Book-keeping
Prepared on 23 November 2022
For management use only
Table of Contents
Financial Activities............................................................................................................................................3 Balance Sheet..................................................................................................................................................4
2/5
Financial Activities
September 2021 - August 2022
| Financial Activities September 2021 - August 2022 |
|
|---|---|
| Total | |
| INCOME | |
| Childcare Fees | 18,025.98 |
| CJRS - HMRC claim | 535.03 |
| LA Grant fee income | 55,572.27 |
| Sales of Product Income | 7.00 |
| Supportgrants | 500.00 |
| Total Income | 74,640.28 |
| COST OF SALES | |
| Food and refreshments | 899.01 |
| Groups & outings | 279.00 |
| Toys / books / small equipment | 1,155.50 |
| Total Cost of Sales | 2,333.51 |
| TOTAL | 72,306.77 |
| EXPENDITURES | |
| Accountancy / bookkeeping | 611.50 |
| Advertising | 94.80 |
| Cleaning & hygiene costs | 885.79 |
| Computer costs | 151.80 |
| Consumables & resources | 1,413.04 |
| Fundraising costs | 1,746.49 |
| Insurance | 1,505.08 |
| Legal and professional fees | 50.00 |
| Light and heat | 717.01 |
| Pensions | 1,978.42 |
| Printing, postage and stationery | 359.79 |
| Rates | 211.44 |
| Repairs & maintenance | 5,628.78 |
| Subscriptions / licences | 355.27 |
| Telephone / Broadband | 908.29 |
| Training / DBS fees | 536.12 |
| Uniforms | 101.64 |
| Wages | 59,432.43 |
| Total Expenditures | 76,687.69 |
| NET OPERATING INCOME | -4,380.92 |
| OTHER INCOME | |
| Fundraising Income | 11,752.46 |
| Interest earned | 2.52 |
| School Dinners | 2,811.10 |
| Total Other Income | 14,566.08 |
| OTHER EXPENDITURES | |
| School Dinnerspayments | 2,779.20 |
| Total Other Expenditures | 2,779.20 |
| NET OTHER INCOME | 11,786.88 |
| NET INCOME/(EXPENDITURE) | £7,405.96 |
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Hartest Pre-school
Balance Sheet
As of August 31, 2022
| Balance Sheet As of August 31, 2022 |
|
|---|---|
| Total | |
| FIXED ASSET | |
| Tangible assets | |
| Accrued Depreciation | 112,755.39 |
| Accumulated Depreciation Shed | 51.80 |
| Buildings | |
| Depreciation | -112,500.00 |
| Original cost | 193,446.00 |
| Total Buildings | 80,946.00 |
| Computer equipment | 310.39 |
| Depreciation | -1,276.97 |
| Original cost | 1,276.97 |
| Total Computer equipment | 310.39 |
| Equipment | 518.00 |
| Shed | -51.80 |
| Total Equipment | 466.20 |
| Total Tangible assets | 194,529.78 |
| Total Fixed Asset | 194,529.78 |
| CASH AT BANK AND IN HAND | |
| Current Account | 36,407.74 |
| Petty cash | 1,586.00 |
| Savings Account | 11,613.65 |
| Total Cash at bank and in hand | 49,607.39 |
| DEBTORS | |
| Debtors | 27.00 |
| Total Debtors | 27.00 |
| CURRENT ASSETS | |
| Prepayments | -13,460.72 |
| Total Current Assets | -13,460.72 |
| NET CURRENT ASSETS | 36,173.67 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
| Current Liabilities | |
| Accruals | 5,133.88 |
| Total Current Liabilities | 5,133.88 |
| Total Creditors: amounts falling due within oneyear | 5,133.88 |
| NET CURRENT ASSETS(LIABILITIES) | 31,039.79 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 225,569.57 |
| CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR | |
| Endowed fund | 88,446.00 |
| Total Creditors: amounts falling due after more than oneyear | 88,446.00 |
| TOTAL NET ASSETS (LIABILITIES) | £137,123.57 |
| CHARITY FUNDS | |
| Opening Balance Equity | 136,771.64 |
| Retained Earnings | -7,054.03 |
| Surplus/(Deficit) | 7,405.96 |
4/5
Hartest Pre-school
Total £137,123.57
Total Charity funds
5/5
Hartest Pre-school
CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examinerfs report on the accounts Section A Independent Examiner s Report Raport to th8 trusts891 Momr$ of Hartest Pre Sch1 On a¢¢ounts for tho y•ar ondod 3111 August 2022 Charlty no Ilf any) 1081842 Set out on pages I report to the trustees on my examination of the accounts of the above ¢harty1lhe Trust") for the year ended Rè8pon8lbllltlè8 and ba818 of report As thé charity's trustees, you a reswnsible for the preparation ofthe accounts in accordance with the requirements of the Charities Act 2011 {Ihe W. I report in respect of my examination of the Trust's accounts carried OLrt und•r seclion 145 of the 2011 Act and in carying out my examination, I have follTh•MI all the applicable Directions given by the Charity CommKssion under sedion 145(Sllbl of the Act. Independent examlner'8 Statsment I have cMipbted my examination. I confirrn that no material matters have me lo my attention in connection with the examination {other Ih8n that dls¢losed beh)w ") which gives m8 cause to believe that in. any material respect.. the accounting records were not kept in acrnrdance ¥th 8e¢tion 130 of the CharitK8s Act: or the accounts did not accord with the accounting records., or the accounts did not compty with the applic8ble roguir¢mant3 conceming the fom and content of accoljnts set out in the Charities (Accounts and Repots) Regulations 2008 other than any requiremenl that the ac¢ounts give a Irue and fairf view which is not a matter conSered as part of an independenl examination. I have no concems and have come xross 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 thg brackets rfth9y not 8ppIy. 8lgn•d: Namo: Rebecca Clemo Relevant professional quallficatlonl81 or body Ilf any): Instttute of Certrfd Bc)kkeepers no.21456 Addre85: 7 08ks Road IER 12018