## **Chair’s & Treasurer’s Report – AGM 7th February 2024** ## **– School Year 1st September 2022 31st August 2023** Firstly, thank you all for attending Strathmore Pre-School’s AGM. This is a brief summary of the key points from the past year at the Pre-School. ## **OFSTED** Our last Ofsted inspection was in October 2018, when the Pre-School was delighted to achieve an Outstanding rating. The Committee and myself are hugely proud of all the work that Diane and the team put in with the children and the setting to achieve and continue to maintain this level. ## **Staffing News** We began September 2022 with the following staff: Diane Grazette- Leader Leonie Nicholson-Hay - Deputy Leader Julie Hook - Administrator Emily Constantinou - Practitioner & SENCO Megan Reader - Practitioner & 1:1 Support Megan left us at the end of March 2023 and Emily at the end of May 2023 to take up positions at other settings. Meenu Dhunna and Kayleigh Shiers were appointed as Bank staff in January 2023 and April 2023, respectively. Annabel Breadin started with us as a practitioner in May 2023. Registered as a Company Limited by Guarantee in England & Wales. Registered Office: Strathmore Pre-School. Old Hale Way, Hitchin, SG5 1XR Registered No: 7274228 Registered Charity No: 1137736 ## **Committee News** The Committee has remained the same for this year, with membership as follows: - Michelle Moore – Chair - Katherine Martinez – Treasurer - Shelly Leitch – Safeguarding Officer - Esther Horton – Secretary - Tim Craig – Committee member ## **Finance** The combined cash balances of the Pre-School accounts at the end of the academic year were £15,550. This is significantly lower than the £27,828 balance at the end of last year, which had been in line with the two preceding years. ## **Income:** Our income was £69,288, a decrease of £4546 over 2022. This difference is primarily due to a decrease in fee income and donations. The income make up was different this year, with fee income considerably lower and funding higher than in 2022. ## **Expenditure:** Expenditure was £81,671 this year, an increase of £8104 over the previous year. This was predominantly due to an increase in staffing costs and, to a lesser degree, an increase in rent to the school. Overall, we ended the year showing a loss of £12,383 in this year’s audited accounts. ## **Summary** This has been a challenging year for the Pre-School, as it has been for many other settings. There are ongoing issues and concerns regarding the availability of qualified staff and the shortfall created by government underfunding of “free” hours. Due to the increase in expenditure and the shortfall in income, the reserves have been hit in consecutive years. The cost of living crisis and the struggle to recruit staff have been affecting the number of pupils we can enroll, and in turn our income levels. Looking forward we need to look to maximize income or consider where any other cash injection might come from. We will also need to give ongoing consideration to the sustainability of our situation. My thanks go to all of the staff for their hard work and dedication to the Pre-School, and particularly to Diane for her dedicated leadership during what has been a challenging year. My thanks as well to Julie for her generous and continued support, and to my fellow Committee members for giving their time and enthusiasm to keep the Pre-School running. Registered as a Company Limited by Guarantee in England & Wales. Registered Office: Strathmore Pre-School. Old Hale Way, Hitchin, SG5 1XR Registered No: 7274228 Registered Charity No: 1137736 With the children of current Committee members having already moved on to other settings or moving on to Reception in the 2024-25 school year, we will need to look to expand membership to those parents of children who will be remaining at the Pre-School. With thanks and best wishes, Michelle Moore Chair Registered as a Company Limited by Guarantee in England & Wales. Registered Office: Strathmore Pre-School. Old Hale Way, Hitchin, SG5 1XR Registered No: 7274228 Registered Charity No: 1137736 ## **BALANCE SHEET as at 31st August 2023** ## **STRATHMORE PRE SCHOOL** ## **Charity No 1137736** ||_2023_|_2022_| |---|---|---| |**FIXED ASSETS**|**3,688**|3,793| |Depreciation|(105)|(105)| |**CURRENT ASSETS**||| |CASH FUNDS||| |Bank deposit account||| |Bank|13,989|26,281| |Bank Reserve|0|0| |Bank Reserve|1,561|1,547| |**TOTAL ASSETS**|**19,133**|**31,516**| |**CURRENT LIABILITIES**||| |_ACCRUALS_|0|0| |_CREDITORS_||| |Creditors|0|0| |**NET LIABILITIES**|0|0| |**NET CURRENT ASSETS**|**19,133**|**31,516**| |Represented by||| |Profit/Loss|19,133|31,516| ## **STRATHMORE PRE-SCHOOL** Charity No 1137736 ## **INCOME AND EXPENDITURE ACCOUNT FOR 31 AUGUST 2023** |**INCOME**
**Fee income**
**Fundraising income**
**Fee Grant Funding**
**Interest**
**Donation**
**Other**
**Total Income**
**EXPENDITURE**
**Wages**
**Admin Staff**
**Pension**
**Rent of facilities**
**Equipment and materials**
**Insurances and subscriptions**
**Bank charges**
**Photocopying**
**Phone**
**Printing, stationery and postage**
**Training**
**Accountancy charges & Prof Fees**
**Refunds**
**Payroll**
**Other**
**HMRC**
**Legal & Professional**
**Sundry Expenses**
**Total Expenditure**
**Profit/(loss)**
**Bal brought forward**
**SURPLUS CARRIED FORWARD**|**2023**
**2022**
**£**
**£**
**26,546**
**38,452**
**693**
**210**
**41,068**
**33,149**
**15**
**0**
**1,513**
**966**
**510**| |---|---| ||**69,288**
**73,834**| ||**56,712**
**48,373**
**4,617**
**4,066**
**1,453**
**1,482**
**7,571**
**6,824**
**1,563**
**2,616**
**938**
**872**
**71**
**66**
**747**
**672**
**214**
**394**
**1,132**
**585**
**326**
**370**
**360**
**360**
**244**
**158**
**783**
**729**
**791**
**0**
**3,746**
**3,472**
**403**
**748**
**0**
**1,780**| ||**81,671**
**73,567**| ||**-12,383**
**267**
**31,516**
**31,249**| ||**19,133**
**31,516**| ## _**Notes**_ ## **Independent examiner's report on the accounts** **Section A Independent Examiner’s Report** **Report to the trustees/ members of** Charity Name Strathmore Pre School > **On accounts for the year ended** 31st August 2023 **Charity no (if any)** 1137736 **Set out on pages** (remember to include the page numbers of additional sheets) I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31st August 2023 **DD / MM / YYYY** . **Responsibilities and** As the charity's trustees, you are responsible for the preparation of the **basis of report** 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent** [The charity’s gross income exceeded £250,000 and I am qualified to **examiner's statement** undertake the examination by being a qualified member of [insert name of applicable listed body]]. _Delete_ [ ] _if not applicable._ I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination (other than that disclosed below *) which gives me cause to believe that in, any material respect:  the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across 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 the brackets if they do not apply._ **Signed: Date:** 12th January 2024 ~~`Reilly~~ **Name:** ~~Mr S O`Reilly~~ ## ~~Mr S O`Reilly~~ > **Relevant professional** MAAT **qualification(s) or body** **Oct 2018** 1 **IER** ## **(if any):** **Address:** ## ~~66 Bedford Rd, SG52UD~~ ## **Section B Disclosure** Only complete if the examiner needs to highlight material 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** . **Oct 2018** 2 **IER**