2022-08-31-accounts - Whiteley Pre-School

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

Whiteley Preschool AGM – 10[th] May 2023

7:30 pm – Rookery Room, Whiteley Community Centre

Attendees

Hayley Montague (HM) – Chairperson

Gemma Hardy (GH) – Secretary

James Barrett (JB) Treasurer

Laura Bilbie (LB)

Hannah Fletcher (HF)

Sarah Southall (SS)

Zoe Afaha (ZA)

Steve Ward (SW) – Whiteley Community Centre Manager

Matthew Joyce (MJ)

Minutes

HM welcomes all to AGM.

Chair Report

In September 2022 our second site, Whiteley Pre-School North, opened at Cornerstone CofE Primary School. It has proved very popular with families of North Whiteley and the staff worked hard during the summer term and this year settling into the new site and welcoming new families.

Committee devoted much of their time addressing the financial position of the preschool, to reduce overheads at the Community Centre as increasing rent costs has meant the Pre-School were operating at a loss. It was decided that we would no longer rent Sweethills but given the pack away nature of the setting we needed storage space. We have had to rent Yew Tree to store resources as no suitable cupboard space could be found in the Community Centre. Although removing the cost of renting Sweethills will lead to a saving, it is not as great as projected when factoring in the rental of Yew Tree. However, it is still an overall reduction in rent costs. Sweethills was cleared out and redecorated by staff and Committee with resources being sorted out and the room was handed back to the Community Centre at the end of February 2023.

To address the deficit in our accounts, fees for non-funded/extra sessions were increased in January 2023 to £5.50/hour. The Government also announced that Early Years funding would increase, and we have seen our funded children’s rate increase by 4.5%. National Living Wage also increased in April 2023, and this will further increase payroll costs.

Constitution Amendments

At the beginning of the year, it was recognised that our current secretary, Gemma Hardy, has been in post almost 10 years. To retain their knowledge and expertise it was agreed to amend our constitution in conjunction with the Early Years Alliance so that Trustees can remain for 14 consecutive years. To formalise this the amended constitution must be adopted at this AGM, are we all in agreement to adopt?

Agreed.

Financial Report

The preschool was closely monitored by the Business Manager and Chair a new treasurer was appointed at the last AGM and has gradually become more involved with his role. The preschool run at a loss of £19,667.47 for the 20212022 academic year. This was due to the following:

Set up costs associated with the opening of the satellite setting – Whiteley Preschool North (approx. costs £6,625.85 – taken from reserve later in 2022, not shown on accounts).
Increase in wages of £7,707.07
Increase in Pensions of £656.41
Increase in hall hire of £5,628.84. Fees went up by 10% in April 2022. Recommenced paying full amount for Sweethills on 1[st] June 2022, majority of the year paying for breakfast club, Mondays and for the staff to use it for one hour per day.

We have worked hard to try to mitigate the impact of the rising operational costs and have done this successfully with regards to the impact it has on staff and children. However, it is anticipated that this cost will continue to grow. The community centre has increased the rental charges again in April 2023 by 10% and National living wage has increased significantly in April 2023. Laura and I will continue to drive new enquiries and registrations.

It was identified that there was no longer a need for us to hire Sweethills, it had not been used as a preschool room for many years. During covid we identified that when payment recommenced it would have a significant impact on the preschool’s financial situation and would no longer be affordable. Last year it was decided that we would vacate the Sweethills room to reduce running costs at the community centre. We hire Yew Tree now at £5 per hour, term time only to store preschool equipment in.

Income raised through the EYE grant totalled 141,334.11 which was an increase of £3,860.01 compared to the previous year. Term fees accounted for £23, 938.94. This was a decrease of £7,019.78.

SS – will HM continue as a general member?

HM- no, I am standing down but will remain available to provide newly appointed chairperson a handover.

SS – how many members are needed: will it be checked.

HM – a minimum of 5 trustees are needed. We must be recruiting for new members when this is not fulfilled. We can have a maximum of 12.

GH – there will be no physical check, committee members are named on charity commission website and Ofsted are notified so preschool are transparent as to who serves on the committee.

Managers Reports

The north site is doing well and majority of enquires, and enrolments are for North site. Looking for a permanent site on that side of Whiteley. Enrolments at North are not taking from community centre.

MJ – Agreed that they are not, with my knowledge and background with involvement with the council the North side of Whiteley is where the affordable housing is and where young families are living. The closet preschool to North side would have been Fairthorne manor had the North site not opened.

Nominations and Elections

In March 2023 there was a drive for current parents to join the Committee which has resulted in many parents stepping forward so that 60% of Committee members will be family members as required by the Pre-School constitution.

To enable the 60% split to be met I have resigned as Chair and this position will need to be filled and agreed by the new members. I would like to take the opportunity to thank all the staff for their hard work and dedication throughout my tenure as Chair, navigating Covid, adjusting to new ways of working, dealing with Ofsted inspections, and opening a new site. It has been a busy three years.

James Barrett to remain in post as Treasurer – All agreed. Gemma Hardy to remain as Secretary – All agreed.

Hayley Montague has resigned as Chair.

Matthew Joyce nominated as Chairperson – DBS & EY2 applied for – Agreed.

A nomination has been received from a parent who was unable to attend the AGM, this will be actioned upon her availability.

Committee will continue to recruit for a 5[th] member, who must be a current parent.

Zoe Afara expressed an interest in joining the committee. LB encouraged a fundraising committee as opposed to nominating herself as a general member. GH to follow this up at a later date once 60% of family’s members has been achieved.

Whiteley Pre-School

Detailed Receipts and Payments Account

Payments Payroll WCC Pension WCC Recruitment Resources WCC Resources Cornerstone Training Hall Hire Fee Refund Snack WCC Malleable Cleaning Accounting Postage Telephone Stationery & Software County Supplies Nappy Bin Maintenance Equipment Photocopying & Printing Miscellaneous Staff Uniforms Insurance Subscriptions Marketing & Website Functions/Days out DBS Charitable donation Corporation tax Expenses Bank & CC Charges Offsted Andrea payout Total Expenditure		Year ended 31-Aug-22 £ 136323.47 4648.83 1808.04 2274 6625.85 1700.8 20659.89 196.99 779.62 60.51 402 20 793.46 1661.71 2326 474.69 2217.24 723.1 646.32 767.56 109.89 1179.95 1648.09 217 120 0.56 937.88 215.6 85 189,624.05	Year ended 31-Aug-21 £ 128,616.40 3,992.42 823.08 5,052.02 1,085.94 15,031.02 26.25 1,110.44 13.08 326.62 978.00 15.21 947.82 1,423.15 457.53 90.48 109.55 6,423.71 585.52 150.00 556.68 725.61 35.00 345.01 75.00 100.10 282.73 30.00 100.00 169,508.37	Year ended 31-Aug-20 £ 125,482.87 3,534.66 5,387.76 1,519.11 16,067.88 496.80 1,099.13 15.46 828.00 21.42 608.15 174.98 528.30 121.26 2,325.15 432.24 156.60 437.33 745.40 564.48 114.76 862.80 259.12 236.44 30.00 3,628.75 165,678.85	Receipts Registration/Holding Fees Term Fees Eye Grant Other Grants Fundraising Miscellaneous Donations Interest Extra sessions Training & Consultation Payroll Refund Total Income		Year ended 31-Aug-22 £ 1831.65 23938.94 141334.11 1860 879.47 70 42.41 169,956.58 -19,667.47	Year ended 31-Aug-21 £ 685.00 30,958.72 137,474.10 219.50 10.00 8.45 5,240.63 174,596.40 5,088.03	Year ended
									31-Aug-20 £ 925.00 29,488.60 134,207.47 2,508.47 130.56 380.00 103.08 35.00 722.03 10,139.54 178,639.75 12,960.90

Surplus of Income over Expenditure

Balance Sheet

Capital Reserves at 01/09/21 Surplus of Income in year Balance at 31/08/22		as at 31-Aug-22 £ 117,484.48 -19,667.47 97,817.01	as at 31-Aug-21 £ Represented by: 112,396.45 Bank Reserve Account Bank Current Account 5,088.03 Cash less: creditors plus: Andrea amount owed less: credit card 117,484.48		as at 31-Aug-22 £ 90503.27 7652.28 63.46 -402.00 97,817.01	as at 31-Aug-21 £ 89,435.96 28,963.06 63.46 -978.00 117,484.48

Whiteley Pre School Gull Coppice Yew Tree Drive Whiteley PO15 7LA

15[th] March 2023

Dear Committee

I have today finalised the 2021/22accounts, as agreed.

Your accounts have been prepared on a receipt and payment basis.

All bank transactions have been imported into Xero via a direct bank feed. These transactions have then been allocated to the relevant income or expenditure category headings.

Based on the information provided, I can confirm that these accounts are a true reflection of the trading activity and the financial position of Whiteley Pre-school.

I am pleased to have been of service and hope I can continue to do so in future years.

Yours sincerely

Trudy Braithwaite MICB CB.Cert