Treasurers Report 2022 - 2023
REPORT FOR THE YEAR ENDING 31ST AUGUST 2023
- Summary of the year
Looking back at the finances over the last year, Preschool has seen a financial gain of £7,253.68. This is compared to the year before where we saw a gain of £7,378.96.
This has been a good year for Preschool and has helped to continue raising the savings account and ‘reserves’ pot for contingencies.
The income for the year was £84,902 compared to £72,279 the year before. The main reason for this increase was due to improved occupancy, which we have continued to see since 2021. We finished the year with an average of 18 children attending Preschool each day, considering we can take 24 children to the room we finished in July with 67% of sessions full.
Costs this year were £82,548 compared to £74,941 the year before. 80% of these costs were spent on staff wages. We expected costs to rise with the ‘Cost of living crisis’, therefore all of our bills have increased. Our utility bills (water, heating and electric) rose from £717 (2021-22) to £1,705 this year, which equates to an 80% rise in these costs! Additionally, almost £2,000 was spent on repairing the water heater due to parts needing to be specially made. To coincide with these added costs, we raised Preschool fees by 50p per hour in April 2023, pricing equates to £5ph which is still in line/ cheaper than other local Preschools/ nurseries.
- Fundraising
Fundraising income for the year was £6,648, this was made from our Bonfire night, wreath making workshop, Christmas raffle and Fashion show. The previous year we made £11,752 through fundraising but that was due to an extremely busy Bonfire night where we raised three times the usual/ expected amount. This was Nov 2021 when all other local events did not go ahead.
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. We luckily found solicitors willing to take this case on as ‘pro bono’ due to us being a charity, however they have closed the case as cannot afford to keep waiting for the Diocese/ Council to agree terms. Alongside Yasmin, we as the committee will need to support these discussions as they develop to ensure that any risk of higher rental costs is minimised.
Treasurers Report 2022 - 2023 The committee will also need to look at wages and adjust in line with the recently announced minimum/ living wage increase for April 2024.
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!
Management Report
Hartest Pre-school
For the period ended August 31, 2023
Prepared by Early Years Book-keeping
Prepared on 22 October 2023
For management use only
Table of Contents
Financial Activities...........................................................................................................................................3 Balance Sheet .................................................................................................................................................5
2/5
Financial Activities
September 2022 - August 2023
| Financial Activities September 2022 - August 2023 |
|
|---|---|
| Total | |
| INCOME | |
| Childcare Fees | 12,799.00 |
| LA Grant fee income | 72,862.21 |
| Sales of Product Income | 147.20 |
| Supportgrants | 500.00 |
| Total Income | 86,308.41 |
| COST OF SALES | |
| Food and refreshments | 1,607.47 |
| Groups & outings | -487.00 |
| Toys / books / small equipment | 285.00 |
| Total Cost of Sales | 1,405.47 |
| TOTAL | 84,902.94 |
| EXPENDITURES | |
| Accountancy / bookkeeping | 618.50 |
| Advertising | 48.00 |
| Cleaning & hygiene costs | 1,629.51 |
| Computer costs | 643.19 |
| Consumables & resources | 1,648.64 |
| Insurance | 1,533.32 |
| Legal and professional fees | 202.03 |
| Light and heat | 1,956.01 |
| Pensions | 2,468.54 |
| Printing, postage and stationery | 208.88 |
| Purchases | 168.35 |
| Rates | 441.32 |
| Repairs & maintenance | 1,933.40 |
| Subscriptions / licences | 212.89 |
| Telephone / Broadband | 1,124.50 |
| Training / DBS fees | 340.00 |
| Uniforms | 120.86 |
| Wages | 67,250.33 |
| Total Expenditures | 82,548.27 |
| NET OPERATING INCOME | 2,354.67 |
| OTHER INCOME | |
| Fundraising Income | 6,648.27 |
| Interest earned | 66.56 |
| School Dinners | 2,268.80 |
| Total Other Income | 8,983.63 |
| OTHER EXPENDITURES | |
| Fundraising costs | 3,079.02 |
| School Dinnerspayments | 1,005.60 |
| Total Other Expenditures | 4,084.62 |
| NET OTHER INCOME | 4,899.01 |
3/5
Hartest Pre-school
Total £7,253.68
NET INCOME/(EXPENDITURE)
4/5
Hartest Pre-school
Balance Sheet
As of August 31, 2023
| Balance Sheet As of August 31, 2023 |
|
|---|---|
| Total | |
| FIXED ASSET | |
| Tangible assets | |
| Accrued Depreciation | 120,255.39 |
| Accumulated Depreciation Shed | 103.60 |
| Buildings | |
| Depreciation | -120,000.00 |
| Original cost | 193,446.00 |
| Total Buildings | 73,446.00 |
| Computer equipment | 310.39 |
| Depreciation | -1,276.97 |
| Original cost | 1,276.97 |
| Total Computer equipment | 310.39 |
| Equipment | 518.00 |
| Shed | -103.60 |
| Total Equipment | 414.40 |
| Total Tangible assets | 194,529.78 |
| Total Fixed Asset | 194,529.78 |
| CASH AT BANK AND IN HAND | |
| Current Account | 19,590.78 |
| Petty cash | 1,318.00 |
| Savings Account | 18,988.68 |
| Total Cash at bank and in hand | 39,897.46 |
| NET CURRENT ASSETS | 39,897.46 |
| CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |
| Current Liabilities | |
| Accruals | 1,630.99 |
| Total Current Liabilities | 1,630.99 |
| Total Creditors: amounts falling due within oneyear | 1,630.99 |
| NET CURRENT ASSETS(LIABILITIES) | 38,266.47 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 232,796.25 |
| 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) | £144,350.25 |
| CHARITY FUNDS | |
| Opening Balance Equity | 136,771.64 |
| Retained Earnings | 324.93 |
| Surplus/(Deficit) | 7,253.68 |
| Total Charity funds | £144,350.25 |
5/5
Hartest Pre-school
Independent examiner's report on the accounts
Section A Independent Examiner’s Report
Report to the trustees/ members of
Charity Name Hartest Pre-school August 2023
On accounts for the year ended Charity no (if any)
Set out on pages
(remember to include the page numbers of additional sheets)
Responsibilities and basis of report
I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended DD / MM / YYYY .
As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance 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 carrying out my examination, I have followed 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 (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with section 130 of the Act or
-
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. * Please delete the words in the brackets if they do not apply.
Anne Meadows 14[th] November 2023 Anne Meadows
Signed: Date: Name: Relevant professional qualification(s) or body (if any):
Bookkeeping City and Guilds Level 1 and 2
October 2018
1
IER
Address:
97 Park Lane
Castle Donington Derby DE74 2JG
Section B Disclosure
Only complete if the examiner needs to highlight matters of concern (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 .
October 2018
2
IER