## **Review of the Academic Year to 31 August 2020** ## **Finances** Our Scottish Widows account stood at £41161. We also had just over £50564 in our Lloyds savings account, some of which will be transferred to the Scottish Widows account. ## **Intake** Our intake dropped by 7 at the start of the year and by the end of the year we had 11 less children than Year 18/19. ## **Covid** We closed on 23rd March until after the Easter holidays, returning on 21[st] April 2020. We then re-opened for the children of key workers. That meant opening for 2 days a week with usually only 3 children and two members of staff plus our administrator. This meant that our outgoings (especially staff wages which we decided to pay full rates for everyone) remained at our normal level while our income dropped as we didn’t have any private funding coming in. We were able to place one of our staff on furlough but that still meant we had to pay 20% of their salary. Because we were open for keyworker children that was the only support available from the furlough scheme. We re-opened for all children in June but only had a total of 10 children attending until the end of term, so we only opened for 2 days a week. The reality of Covid meant that the Pre-school suffered a financial hit. All of our outgoings continued (save some help form the furlough scheme) and yet our income had decreased. Fortunately, our funding from the local authority continued however we lost all of our private funding. In June we were able to secure a £10,000 small business grant funding from the government. ## **Staffing** Our manager commenced maternity leave in October so we wished her well and of course assured her that her job would be awaiting her return. She would be sorely missed but what an exciting time for her! In November Emma gave birth to a beautiful baby girl which she showed off to us all. We were very lucky to have an excellent deputy manager in Tracey who was prepared to step up to full manager during the maternity leave. We are pleased to say that she took on the extra duties with complete professionalism, thus ensuring a smooth transition. At the end of the academic year we had to say goodbye to one of our long serving employees who had taken the decision to retire. We gave her a good send-off and she left with promises to come back and visit later in the year. ## **Resources** Save for the following there were no significant items of expenditure this year – more a case of adding to existing resources where necessary as the year progressed. For the office we purchased a dishwater, fridge & laptop. For the garden we purchased 2 sheds for resource storage, had fencing repairs & repairs to our gazebo. For the children we purchased a fantastic new outdoor play-gym which they have thoroughly enjoyed since returning back after the Covid lockdown. ## **Generally** Again there are no significant developments regarding the site however there has been talk of our site being purchased by the diocese for the benefit of the school. We have been assured by both the diocese & the school that once the transaction goes ahead we would be offered a lease of the land so that the Pre-school may continue. As always the Trustees continue to monitor the situation & will report accordingly. Thanks to our dedicated team we continue to perform at the highest level. It is our staff members – each and every one – that make us what we are. Thank You SPRINGHILL PRE SCHOOL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Morton Tax Springhill Pre School Contents of the Unaudited Accounts For The Year Ended 31 August 2020 Content5 Page Busines5 Dets115 Approval Profit and L055 A¢¢ount Balance Sheet Note5 to the Accounts Springhill Pre School Business Details For The Year Ended 31 August 2020 Tradin9 Millfleld Avenue East Cowes Isle of Wlght P032 6AS Accountants Norton Tax 3 Westfleld Road st. Helens Ryde Isle Of Wiglit P033 luz Paoe I Springhill Pre School Accounts Approval Statement For The Year Ended 31 August 2020 I approvo these un-audlted accounts whlch comprlse 3 Proflt and Loss Account, Balance Sheet and related notes. I acknowledge my responslbility for the acetsunts including the provision of èll the Information and explanations necessary for the completion. Date Page 2 Springhill Pre School Profit and Loss Account For The Year Ended 31 August 2020 2020 2019 Turntsver Fees Funding Vouchers 13,353 60,211 611 14,503 76,796 1,200 2,331 Xmas club & refunds 2,275 76.450 94,830 Cost of Sales Materials Waoes and salaries Premises costs 2,374 71,700 3,362 4,538 77.545 2,822 77,436 84,905 GROSS PROFIT {9861 9,925 Other Income Bank Interest retelvèble 74 86 19121 io,oii Expenditure Sub515tence expenses Repairs, renewals and maintenan Accountancy fees Bank thargès other offlce costs 923 5,019 125 1,054 1,019 125 116 loo 11,453 (i) 13,200 Sundry expenses 17,619 15,515 NET LOSS 118,5311 15,5041 Page 3 Springhill Pre School Balance Sheet As at 31 August 2020 2020 2019 Notes CURRENT ASSETS Trade debtors 1,146 95,933 2,114 126,839 Cash at bank and In hand 97.079 128,953 CURRENT LIABILITfES Accruals and deferred income 470 13,813 NET CURRENT ASSETS 96,609 115,140 TOTAL ASSETS LESS CURRENT LIABILITIES 96.609 115,140 ASSETS 96,609 115,140 CAPITAL ACCOUNT 8alance at I Septefflber 2019 ProfitllLossl for the perlodlyear 115,140 118,53LI 120,644 15,5041 Balance Carrled Forward 96,609 115,140 Page 4 Springhill Pre School Notes to the Accounts For The Year Ended 31 August 2020 l. Accountlng Pollcv These unaudited accounts have been completed in accordènce wlth UK Generally Actepted Accountlng Practice guldeline5 afid provldes suffitlent and relevant informatlon ro Ènable complelion of a tax return. Pagtr 5 SPRINGHILL PRE SCHOOL UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2020 Morton Tax Springhill Pre School Contents of the Unaudited Accounts For The Year Ended 31 August 2020 Content5 Page Busines5 Dets115 Approval Profit and L055 A¢¢ount Balance Sheet Note5 to the Accounts Springhill Pre School Business Details For The Year Ended 31 August 2020 Tradin9 Millfleld Avenue East Cowes Isle of Wlght P032 6AS Accountants Norton Tax 3 Westfleld Road st. Helens Ryde Isle Of Wiglit P033 luz Paoe I Springhill Pre School Accounts Approval Statement For The Year Ended 31 August 2020 I approvo these un-audlted accounts whlch comprlse 3 Proflt and Loss Account, Balance Sheet and related notes. I acknowledge my responslbility for the acetsunts including the provision of èll the Information and explanations necessary for the completion. Date Page 2 Springhill Pre School Profit and Loss Account For The Year Ended 31 August 2020 2020 2019 Turntsver Fees Funding Vouchers 13,353 60,211 611 14,503 76,796 1,200 2,331 Xmas club & refunds 2,275 76.450 94,830 Cost of Sales Materials Waoes and salaries Premises costs 2,374 71,700 3,362 4,538 77.545 2,822 77,436 84,905 GROSS PROFIT {9861 9,925 Other Income Bank Interest retelvèble 74 86 19121 io,oii Expenditure Sub515tence expenses Repairs, renewals and maintenan Accountancy fees Bank thargès other offlce costs 923 5,019 125 1,054 1,019 125 116 loo 11,453 (i) 13,200 Sundry expenses 17,619 15,515 NET LOSS 118,5311 15,5041 Page 3 Springhill Pre School Balance Sheet As at 31 August 2020 2020 2019 Notes CURRENT ASSETS Trade debtors 1,146 95,933 2,114 126,839 Cash at bank and In hand 97.079 128,953 CURRENT LIABILITfES Accruals and deferred income 470 13,813 NET CURRENT ASSETS 96,609 115,140 TOTAL ASSETS LESS CURRENT LIABILITIES 96.609 115,140 ASSETS 96,609 115,140 CAPITAL ACCOUNT 8alance at I Septefflber 2019 ProfitllLossl for the perlodlyear 115,140 118,53LI 120,644 15,5041 Balance Carrled Forward 96,609 115,140 Page 4 Springhill Pre School Notes to the Accounts For The Year Ended 31 August 2020 l. Accountlng Pollcv These unaudited accounts have been completed in accordènce wlth UK Generally Actepted Accountlng Practice guldeline5 afid provldes suffitlent and relevant informatlon ro Ènable complelion of a tax return. Pagtr 5