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← Strathmore Pre-School

2024-08-31-accounts

Chair’s & Treasurer’s Report

– School Year 1st September 2023 31st August 2024

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 2023 with the following staff:

Diane Grazette - Leader & SENCo Leonie Nicholson-Hay - Deputy Leader Julie Hook - Administrator Annabel Breadin – Practitioner/Deputy Leader/SENCo Meenu Dhunna - Bank Staff Kayleigh Shiers - Bank Staff

Leonie began maternity leave during the Autumn term and Annabel took on the role of Acting Deputy Leader for the remainder of the year.

Committee News

The Committee has remained the same for this year, with membership as follows:

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

Finance

The overall cash balances of the Pre-School accounts at the end of the academic year amounted to just £735. This is significantly lower than in previous years, although refunds from HMRC remain outstanding, amounting to approximately £6259, in relation to maternity pay owed to the pre-school, but not yet paid. There are of course other items of expenditure to be paid out once the full refunds are received and any remaining funds following this will be distributed in accordance with PSLA guidelines.

Income:

Our income this year was £68211, a small decrease of £1077 over 2023. The difference between fee income and funding was less significant this year, with fee income of £36249 and funding of £30187, more in line with 2022.

Expenditure:

Overall expenditure was £86609 this year, illustrating another increase of £4938 over the previous year. Once again, this was predominantly due to an increase in overall staffing costs.

Overall, we ended the year showing a loss of £18398 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 have been ongoing issues and concerns regarding the availability of qualified staff, two staff members commencing maternity leave around the same time 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. We began this year looking to maximize income and considering where any other cash injections might come from. Despite our best efforts, we have unfortunately not been able to achieve the increases that we’d hoped to.

Throughout the year we gave ongoing consideration to the sustainability of our situation, and ultimately came to the conclusion that the Pre-School would not be able to continue beyond this year. This was an incredibly difficult decision for all involved and we kept communication open with staff and families to make the transition as transparent and supported as possible.

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

We have notified Ofsted of our decision to close and completed the process of selling our resources, vacating the premises, and securing our data. This document outlining the financial position of the past year and closing of the Pre-School will hopefully serve as our final report.

My thanks go to all of the staff for their hard work and commitment to the Pre-School, and particularly to Diane for her dedicated leadership over the years, especially during what has been a challenging last few years. My thanks as well to Julie for all that she has done to keep the Pre-School and the Committee running, and for her generous and unwavering support. I’d also like to thank my fellow Committee members for giving their time and enthusiasm to keep the Pre-School running as long as we have.

Strathmore Pre-School has meant so much to so many over the years. It has been an honour to have my children attend the school, and to have the opportunity to support the staff and the school as a member of the Committee. I wish them all the very best for the future.

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

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Strathmore Pre-School
Charity No 1137736
Income & Expenditure Account
31-Aug-24
Fees
Fees 36,249.00
Funding 30,187.10
Donations 0.00
Book Bags 0.00
Uniform 0.00
Books /Photos 0.00
Fund Raising 101.00
Equipment Sale 701.64
Bank Interest 27.55
Other 945.00
Total Income 68,211.29
Rent 6,434.87
Teaching Staff 64,923.50
Admin Staff 4,530.26
Payroll admin 717.75
Pension/NEST 1,275.00
HMRC 1,596.50
Photocopying 183.87
Phone 213.67
Stamps & Stationery 212.18
Equipment 440.66
Training 583.20
Accountant 360.00
Legal & Professional 2,232.91
Fundraising expenses 0.00
Refunds 24.00
Bank charge & fines 66.22
Publicity 0.00
Insurance 125.88
Other 1,206.66
Dep'n 105.00
Dep'n/loss on sale of fxd ass 1,377.41
Total Exp 86,609.54
Profit / (Loss) -18,398.25
Balance Sheet
Fixed Assets 0
Current Assets
Bank 734.75
Bank Reserve 0
Total Cash Funds 734.75
Current Liabilities
Accruals 0
Creditors 0
Net current Assets 734.75
Reserves
Bal Brought Forward 19,133.00
Profit/Loss in period -18,398.25
Closing Reserves 734.75
----- End of picture text -----

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Charity Name STRATHMORE PRE SCHOOL members of

On accounts for the year 31[ST] AUGUST 2024 Charity no 1137736 ended (if any)

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 31/08/2024.

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 examiner's statement

[ ~~The charity’s gross income exceeded £250,000 and I am qualified to 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 (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect,:

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.

1

October 2018

IER

Address: 66 BEDFORD ROAD, SG5 2UD

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 details of any items that the examiner wishes to disclose .

2

October 2018

IER