## _**Treasurer’s Report 2020 -2021**_ ## **Overview** Pre-School reports in different ways to two separate bodies. We have to report in a prescribed manner to the Charities Commission (CC) and the enclosed financial statement (Appendix i) shows our Income and Expenditure for the year (to 31[st] August 2020). For the CC we are required to show how much money we receive in the year and how much we spend (Receipts and Payments). However, this means that we can receive and/or spend money in one financial year that is actually intended for the next. We also report to the pre-school membership, but here we show our performance against budget. ## **Income and Expenditure (Appendix i)** In terms of receipts and payments pre-school had £34,393.07 more in its account at the 31[st] August 2021 than it did on the 31[st] August 2020. At 1[st] September 2020 our balance at bank (all accounts) was £70,219.64 plus £371.76 in petty cash. Receipts for the year were £135,719.33 and expenditure amounted to £101,326.26. The balance at bank (all accounts) at 31[st] August 2021 was £104,984.47. The petty cash balance is zero. Appendix I shows a more detailed breakdown of Pre-school’s income and expenditure for the year ended 31[st] August 2021 |**Cashbook Reconciliation FY20_21**
Opening Balance at Bank 01/09/2020
Income for the year
Expenses for the year
Transfers between accounts
Closing Balance at Bank 31/08/2021
Operational Surplus|**Current**
**£**
30,054.24
135,710.77
165,765.01
(99,847.86)
(1,106.64)
64,810.51
**£34,756.27**|**Deposit**
**£**
40,165.40
8.56
40,173.96
0.00
0.00
40,173.96
**£8.56**|**Petty**
**Cash**
**Total**
**£**
**£**
371.76
70,591.40
0.00
135,719.33
371.76
206,310.73
(1,478.40)
(101,326.26)
1,106.64
0.00
0.00
104,984.47
**(£371.76)**
**£34,393.07**| |---|---|---|---| Appendix ii shows a Statement of Assets and Liabilities as at 31[st] August 2021. As can be seen from the statement pre-school holds very few assets (other than cash at bank) and has no creditors. ## **Performance against budget (Appendix iii)** Performance against budget shows how well Pre-School has performed financially after allowing for certain adjustments to our receipts and payments. Pre-school’s income has been adjusted so that cash received in advance of the financial year to which it relates is removed. Pre-School budgeted for a surplus of £1,719 for 2020 - 21 and I am pleased to report that the actual surplus was in the region of £20,713. This is an exceptional result which has added significant funds to our bank balance. However, the analysis below shows that the majority of the surplus comes from sources over which pre-school has little or no control and cannot, therefore, be relied upon going forward. Appendix iii shows a more detailed breakdown. ## **Income** - Local authority (LA) funding was £8,250 higher than planned, with £1,963 coming from increased numbers of sessions. The remainder came from a COVID-19 grant and other unbudgeted LA income. - Income from fee paying parents was £2,052 higher than planned and comes from higher numbers of children and sessions than were planned for in the budget. - Income from fundraising activities was £2,114 some £539 more than budgeted. Pre-school is grateful to the parents buying uniforms that provide a lot of this income and to the staff and volunteers that work so very hard on the other fundraising events that take place throughout the year. - Income from other sources was £963 more than planned and is due to two grants that Preschool received for its Garden project. ## **Expenditure** - Staffing costs were £6,053 lower than expected. The majority of this came as a result of HMRC returning overpaid tax from prior years and lower staff training costs due to the pandemic. - Pre-school expenditure on new equipment and consumables for the children was £847 lower than planned and this again is due to the effect that the pandemic had on pre-school life in the past year. - Pre-school’s admin costs were £900 less than expected. This again was due to circumstances brought about by the pandemic. - Fundraising costs were £588 higher than planned. This was due entirely to the purchase of higher numbers of children’s uniforms. ## **Financial Year 2021 – 2022** Pre-school is expecting the forthcoming year to be financially challenging. The budget shows an expected surplus of £3,200. However, since it was set in March 2021 there have been significant changes to our staffing and staffing needs, children and funding. The budget will be revisited in January 2022 to look at the financial position but it is likely that we will have to use some of the surplus from this year to offset a potential deficit. Michael Stevens Treasurer Ditton Church Pre-School June 2020 ## **Appendix i** ## **DITTON CHURCH PRESCHOOL** ## **Financial Statements** ## **For the period from** 01/09/2020 **To** 31/08/2021 ## **Receipts and Payments (to the nearest pound)** ## **Unrestricted Funds** |**Receipts**
Local Authority Funding
Fee Payers
Fundraising Activities
Other income
**_Total receipts_**
**Payments**
Staff Expenses
Preschool Expenses
Admin Expenses
Fundraising Expenses
**_Total payments_**
**_Net of receipts/(payments)_**
**Transfers between funds**
**Cash funds last year end**
**_Cash funds this year end_**|**General Fund**
**£**
87,392
28,679
2,114
17
**118,201**
90,242
3,589
6,148
1,334
**101,312**
**16,889**
- 17,613
**28,204**
**27,480**|**Designated**
**Funds**
**£**
11,998
4,482
-
1,038
**17,518**
-
14
-
-
**14**
**17,504**
17,613
**42,388**
**77,504**|**Total funds**
**Last year**
**Total funds**
**£**
**£**
99,390
80,683
33,161
23,351
2,114
1,265
1,055
4,347
**135,719**
**109,646**
90,242
99,422
3,603
7,120
6,148
8,030
1,334
216
**101,326**
**114,788**
**34,393**
**- 5,142**
-
**-**
**70,591**
**75,733**
**104,984**
**70,591**| |---|---|---|---| ## **Appendix ii** ## **Statement of Assets and Liabilities at 31st August 2021** ## **Unrestricted funds** ||**General Fund**|**Designated**
**Funds**|**Total**
**All Funds**||**Last year**
**All Funds**| |---|---|---|---|---|---| |**Cash funds**|**£**|**£**|**£**||**£**| |Current Account|27,306|37,504|64,811||30,054| |Deposit Account|174|40,000|40,174||40,165| |Preschool Leaders Fund|||||372| |**_Total cash funds_**|**27,480**|**77,504**|**104,984**||**70,591**| ||**General Fund**|**Designated**
**Funds**|**Total**
**All Funds**||**Last year**
**All Funds**| |**Assets for re-sale**|**£**|**£**|**£**||**£**| |Stock of uniforms|649||649||291| ||**Details**||**Fund to which**
**asset belongs**|**Cost**|**Current value**| |||||**£**|**£**| |**Assets retained for the charity’s**|Computers (Purchased FY19_20)||General|1,137|400| |**own use**|||||| |**Liabilities**|**Details**
Creditors|**Fund to which**
**liability relates**
General Fund|**Amount**
**due**
**When due**| |---|---|---|---| ## **Appendix iii** ## Budget v Actuals (Summary) Period Ending 31st August 2021 |**Income**
_Local Authority Funding_
_Fee Payer_
_Fundraising_
_Other_
**Total Income**
**Expenditure**
_Staff_
_PreSchool_
_Admin_
_Fundraising_
**Total Expenditure**
**Surplus/(Defecit)**|**T1**
£14,691
£6,837
£766
£544
£22,837
£14,536
£837
£254
£1,092
£16,719
£6,118|**T2**
**T3**
**T4**
**T5**
**T6**
**Full Year**
£14,505
£12,194
£12,437
£16,781
£16,784
£87,392
£7,098
£4,238
£5,269
£3,614
£3,960
£31,016
£924
£17
£160
£20
£227
£2,114
£1
£0
£5
£5
£500
£1,055
£22,528
£16,449
£17,871
£20,420
£21,472
£121,577
£16,225
£7,233
£14,542
£15,982
£21,724
£90,242
£614
£200
£557
£512
£883
£3,603
£274
£189
£2,517
£497
£2,312
£6,044
(£276)
£313
(£273)
£348
(£229)
£975
£16,837
£7,934
£17,343
£17,338
£24,692
£100,864
£5,691
£8,515
£527
£3,082
(£3,220)
£20,713
**Actuals**|**Budget**
**Variance**
**Full Year**
**Full Year**
£79,142
£8,250
£28,964
£2,052
£1,575
£539
£114
£941
£109,795
£11,782
£96,295
£6,053
£4,450
£847
£6,944
£900
£388
(£588)
£108,076
£7,213
£1,719
£18,994| |---|---|---|---| **To** ## **DITTON CHURCH PRESCHOOL Financial Statements** ## **For the period from** 01/09/2020 31/08/2021 ## **Receipts and Payments (to the nearest pound)** ## **Unrestricted Funds** |**Receipts**
Local Authority Funding
Fee Payers
Fundraising Activities
Other income
**_Total receipts_**
**Payments**
Staff Expenses
Preschool Expenses
Admin Expenses
Fundraising Expenses
**_Total payments_**
**_Net of receipts/(payments)_**
**Transfers between funds**
**Cash funds last year end**
**_Cash funds this year end_**|**General Fund**
**£**
87,392
28,679
2,114
17
**118,201**
90,242
3,589
6,148
1,334
**101,312**
**16,889**
- 17,613
**28,204**
**27,480**|**Designated**
**Funds**
**£**
11,998
4,482
-
1,038
**17,518**
-
14
-
-
**14**
**17,504**
17,613
**42,388**
**77,504**|**Total funds**
**£**
99,390
33,161
2,114
1,055
**135,719**
90,242
3,603
6,148
1,334
**101,326**
**34,393**
-
**70,591**
**104,984**|**Last year**
**Total funds**
**£**
80,683
23,351
1,265
4,347
**109,646**
99,422
7,120
8,030
216
**114,788**
**- 5,142**
**-**
**75,733**
**70,591**| |---|---|---|---|---| Prepared by Michael Stevens 14/09/2021 Page 1 ## **Statement of Assets and Liabilities at 31st August 2021** ## **Unrestricted funds** |**Cash funds**
Current Account
Deposit Account
Preschool Leaders Fund
**_Total cash funds_**
**Assets for re-sale**
Stock of uniforms
**Liabilities**
**Assets retained for the charity’s own**
**use**|**General Fund**
**Designated**
**Funds**
**£**
**£**
27,306
37,504
174
40,000
**27,480**
**77,504**
**General Fund**
**Designated**
**Funds**
**£**
**£**
649
**Details**
Creditors
**Details**
Computers (Purchased FY19_20)|**Total**
**All Funds**
**£**
64,811
40,174
**104,984**
**Total**
**All Funds**
**£**
649
**Fund to which**
**asset belongs**
General
**Fund to which**
**liability relates**
General Fund|**Cost**
**£**
1,137
**Amount**
**due**|**Last year**
**All Funds**
**£**
30,054
40,165
372
**70,591**
**Last year**
**All Funds**
**£**
291
**Current value**
**£**
400
**When due**| |---|---|---|---|---| Signed by one or two trustees on behalf of all the trustees Signature Print Name Date of approval Prepared by Michael Stevens 14/09/2021 Page 2 P TITE TAX CONSULTANTS LTD 17b Iron Mill Lfjne Crayford Kent DAI 4RN Tel.. 01322 559386 Ref No: Your Ref No: DrrroN CHURCH PRE-SCHOOL MANAGEMENT GROUP I have as requested examined the books and records for the year ended 31.08.21. The records and petty cash ledger are full and coMp￿hen51Ve. I have not carried out a full audit and do not consider one is necessary. In the areas I selected for examination and in the spot checks I made I did not find anything unsatisfactory. In my opinion the financial statement for the year fairly represents the affairs and transactions of the year and the closing bank balances (total of 2 accounts) of £104984.47p and petty cash of NIL COr￿ctlY state the balances held at the end of the year and I have accordingly countersigned the statement. P ter Tite Registered in the UK No: 3968625