Chair: Rebekah Stephenson Treasurer: Hetty Mercer Secretary: Suzy Singleton
Ducklings Preschool Creaton CIO 18 Welford Road, Creaton, NN6 8NH Charity Number: 1186340
– – Ducklings Preschool Creaton CIO Trustees Annual Report 2021/2022
Overview
Ducklings provides child-led, early years education & holiday club for children aged 2 to 11 years. We work in partnership with families to enhance the lives and experiences of the children in our care, and pride ourselves on offering an environment where individuals can flourish.
The setting is regulated by Ofsted and governed by a board of trustees. The trustees oversee the work of the setting manager and officer manager, who are responsible for the day to day running of the setting. Trustees are appointed by resolution at a properly convened meeting and are subject to suitability checks and confidentiality agreements. They follow the foundation model constitution.
Income Analysis
The charity performed well in 2021-2022 with an income over expenditure of £53,731.23. This was largely attributed to the addition of wrap around care, school holiday club and new families registering.
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The school year began with 46 children on register, attending 696 hours per week.
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The school year closed with 57 children on register, attending 1090 hours per week.
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The increased number of children on register saw the budget for all services income exceeded during the financial year.
The independent guidance counsellor hiring our spare office provided a healthy income over the year, with no expenses, and we were sorry to hear this will not continue in 2022-2023 owing to a career change by the counsellor. We will endeavour to look for further opportunities to acquire income from this available space.
Small but regular contributions from fundraising schemes such as Amazon Smile, Local Lotto, etc, raised a respectable £700.00. Staff led fundraising events included the Halloween Party and Christmas raffle, which we were lucky to receive match funding for, and raised a further £400.00.
The charity benefited from two large anonymous donations for which we are extremely grateful. These donations will be used to further the educational resources available to the children and the spend of donated funds will be accounted for in separate journals.
Total income for the year finished 51% over budget.
Expenditure Analysis
Total expenditure for the year was £146,632.93 which was 11% over budget.
Employment costs as a total were 1% over budget for the year.
The billing issue on gas and electricity was resolved in 2021-2022 and the back billing for these accounts has now been issued and brought up to date. The high expenses exceeded our budget for this financial year but is most likely indicative of the expected increased costs in 2022-2023.
Expenses on Craft Consumables were over double the budget, and this can be attributed to the holiday clubs where craft activities were extremely popular. Going forward a higher craft budget will be in place.
Office Equipment expenses were over budget as a new laptop was needed for our SENCO officer and we procured additional tablets for staff to use in the setting for Tapestry observations. Both
investments have made a vast difference to staff in enabling them to carry out work as they need to without the restriction of tablet availability or poor performing tech.
The financial success of the year allowed us to spend over budget on staff training and an increased budget will be maintained into the new financial year.
Healthy income also led to the introduction of regular dance lessons on a Thursday morning. This has been a fantastic addition to the settings offering and one we hope to continue with, and expand upon, with further ‘curriculum enhancing’ experiences.
The breakdown of what was formerly known as ‘sundries’ expenditure has provided a much clearer view of where this money is being spent. The more detailed expenditure categories will continue, and information gathered from 2021-2022 has been used to produce a more realistic budget for 2022-2023.
The budget for the next school year is outlined on the following pages and the additional income and expense categories can be viewed there.
2022-2023 School Year
The new school year will begin with 54 children on register, attending 1055 hours per week. This is a very healthy starting position from previous years and is reflected in the budget.
Like all businesses and individuals, the charity should expect to feel the impact of cost-of-living increases in 2022-2023. We can help to mitigate some of these expenses by looking for opportunities to gain income from the spare office, having a fundraising drive with committee support and encouraging people to recommend Ducklings – both as a preschool and holiday club - to family and friends.
The Cost of Delivery for 2022-2023 (average cost per hour of childcare for all children) is £3.69.
It is expected that the preschool will make a profit of £40,000.00 in 2022-2023. This view is driven by the number of childcare hours being provided at the time of the budget, and large increases to club hours. It is reasonable to expect that the number of childcare hours will fluctuate throughout the year and that budgeted expenses may be exceeded due to cost-of-living rises.
Equity
We start the year with an accumulated fund of £161,246.23
The contingency fund for 2022-2023 is £56,448.68
Summarised on following pages:
Income & Expenditure Statement, and Balance Sheet, for the year ended 31 August 2022
Contingency fund
Budget 2022-2023
Drafted by: Danielle Widdowson-Fuller, Office Manager
Reviewed and signed off by: Hetty Mercer, Treasurer
- DUCKLINGS PRE SCHOOL CREATON CIO
Registered Charity Number 1186340
Income and Expenditure Statement for the year ended 31st August 2022
| Current | Year 2022 | Prior Year | 2021 | |
|---|---|---|---|---|
| Income | £ | £ | £ | £ |
| Preschool Fees | 46,979.20 | 25,620.30 | ||
| PAYG | 3,773.50 | 0.00 | ||
| Preschool Funding | 88,067.82 | 61,491.99 | ||
| EYPP | 472.74 | 0.00 | ||
| HNF | 10,224.00 | 0.00 | ||
| Breakfast & After School Club | 6,545.00 | 0.00 | ||
| Holiday Club | 21,454.93 | 0.00 | ||
| Meals | 6,587.50 | 3,608.20 | ||
| NMRU - Milk | 698.40 | 0.00 | ||
| Childrens Uniform | 257.00 | 0.00 | ||
| Room Hire | 2,523.50 | 244.00 | ||
| Interest | 34.30 | 3.69 | ||
| Fundraising INC | 1,123.71 | 484.68 | ||
| Donations | 10,122.56 | -29.00 | ||
| Educational Skills Funding | 1,500.00 | 59.00 | ||
| Donation from Creaton Preschool | (1031780) | 84,175.87 | ||
| Total Income | 200,364.16 | 175,658.73 | ||
| Direct Expenses | ||||
| Food | 2,821.32 | 1,274.66 | ||
| Milk | 698.40 | 0.00 | ||
| Children's Uniform | 199.00 | 0.00 | ||
| Total Direct Expenses | 3,718.72 | 1,274.66 | ||
| GROSS INCOME OVER | ||||
| EXPENDITURE | 196,645.44 | 174,384.07 | ||
| Expenses | ||||
| Employment costs | 107,797.14 | 53,321.61 | ||
| Utilities | 11,008.10 | 7,506.41 | ||
| Rent & Rates | 2,000.00 | 0.00 | ||
| Insurance | 838.19 | 0.00 | ||
| Registrations & Licensing | 338.43 | 0.00 | ||
| Finance | 149.04 | 0.00 | ||
| Health & Safety | 1,041.93 | 0.00 | ||
| Office | 2,133.88 | 607.76 | ||
| SALT, SEND & EYPP | 2,782.68 | 1,299.00 | ||
| Curriculum Enhancement | 480.00 | 0.00 | ||
| Play Equipment | 2,784.96 | 1,479.57 | ||
| Consumables (Craft) | 1,456.21 | 600.33 | ||
| Hygiene and Cleaning | 964.46 | 0.00 | ||
| Other Setting Costs | 1,318.14 | 1,698.79 |
| Other Staff Costs 2,398.62 Other Costs 5,422.43 Total Expenditure 142,914.21 Surplus 53,731.23 Cash Opening cash balance 01-Sep-21 107,515.00 Add current year surplus: 53,731.23 Closing cash balance 31-Aug-22 161,246.23 Balance Sheet for the year ended 31st August 2022 Current Assets Current Account 65,749.19 Savings Account 93,613.44 Petty Cash 8.12 Deposits not cleared 3,489.89 Total Current Assets 162,860.64 Current Liabilities Payments not cleared 1,614.41 Total Current Liabilities 1,614.41 Total Net Assets 161,246.23 FINANCED BY Accumulated Fund 107,515.00 Income over expenditure current year 53,731.23 TOTAL EQUITY 161,246.23 Ducklings Pre-School- Running Costs Contingency- 3 Months Forecast Runnings Costs 2022-2023 / 12 3 months estimated running costs (x3) Ducklings Pre-School- TOTAL Contingency Fund Redundancy 3 months estimated running costs (x3) TOTAL CONTINGENCY |
355.60 0.00 66,869.07 107,515.00 31-Jan-20 0.00 107,515.00 31-Aug-20 107,515.00 43,935.86 63,579.14 0.00 0.00 107,515.00 0.00 0.00 107,515.00 0.00 107,515.00 107,515.00 £ 167,786.71 £ 13,982.23 £ 41,946.68 £ 14,502.00 £ 41,946.68 £ 56,448.68 |
66,869.07 |
|---|---|---|
| 107,515.00 | ||
| 0.00 107,515.00 |
||
| 107,515.00 | ||
| 107,515.00 0.00 |
||
| 107,515.00 | ||
| 0.00 107,515.00 |
||
| 107,515.00 |
| BUDGET 2022-2023 | |
|---|---|
| Category Account Name Budget 22-23 |
COMMENTS |
| Income Preschool Fees £ 57,982.92 |
Based on confirmed hours in Sept 2022. Fluctuations likely as new children start or existing children leave/reduce hours. No PAYG included in forecast. |
| Income PAYG £ - |
|
| Income Preschool Funding £ 102,218.11 |
|
| Income EYPP £ - |
No children receiving EYPP in Sept 2022 |
| Income HNF £ 4,560.00 |
Based on one child receiving HNF at start of year |
| Income BC & ASC £ 23,415.21 |
Based on BC & ASC bookings at the start of theyear |
| Income | |
| Income Holiday Club £ 14,916.00 |
Based on hours booked for Autumn Half Term |
| Income Meals £ 4,270.00 |
Based on 41 meals per week, as at September 2022,x 38 weeks,+ 150 hol club meals, |
| Income NMRU - Milk £ 700.00 |
Reimbursement of milk direct expense |
| Income Uniform £ 250.00 |
No profit on uniform, purchase cost charged forgoods |
| Income Room Hire £ 250.00 |
Expect reduction from 2021-2022 as regular office hire client has left |
| Income Bank Interest £ 35.00 |
Based on 2021-2022 interest |
| Income FR - Local Lotto £ 41.60 |
Based on Lotto projection of annual income |
| Income FR - Amazon Smile £ 100.00 |
Baed on 2021-2022 |
| Income FR - easyFundraising £ 10.00 |
Baed on 2021-2022 |
| Income FR - Bags2School £ 90.00 |
Baed on 2021-2022 |
| Income FR - Recycle4Charity £ - |
No longer participating in scheme |
| Income FR - Halloween £ 50.00 |
Reduce direct expenses to improve performance |
| Income FR - Little Monkeys £ 150.00 |
Reduced for 2022-2023 as less children on register |
| Income FR - Textile recycling £ 200.00 |
Based on 2021-2022 |
| Income Donations £ - |
No budget |
| Income FR - Christmas Raffle £ 200.00 |
Based on 2021-2022 sales only, excluding match funding |
| Funding CARF - Covid-19 Additional Relief Fund £ - |
Business rates relief from COVID |
| Funding ESF - Educaton Skills Funding £ - |
Apprentice program |
| Expenditure Food £ 1,708.00 |
Budget £1 per meal. Based on 41 meals per week, as at September 2022, x 38 weeks + 150 holidayclub meals. |
| Expenditure Milk £ 700.00 |
Based on 2021-2022 |
| Expenditure Childrens Uniform £ 200.00 |
No profit on uniform, purchase cost charged forgoods |
|---|---|
| Expenditure Employee Wages £ 109,739.53 |
Weekly hours increased from 218 to 245 from Sept-21 to Sept-22. Includes estimated additional hours for Breakfast Club, After School Club and Holiday Club. Provision made for potential 8.63% increase in line with predicted NLW rise from April 2023. PAYE 6% gross,NI 4%gross. |
| Expenditure PAYE £ 7,469.76 |
|
| Expenditure Employee NI £ 5,046.50 |
|
| Expenditure SSP £ 500.00 |
Based on 2021-2022 |
| Expenditure SALT £ 2,660.00 |
£70 per week, term time |
| Expenditure Childcare Contractor £ 250.00 |
Small amount budgeted to cover unforeseen staff shortages |
| Expenditure Pension Contributions £ 6,250.89 |
Er contributions = 3% gross pay. Ee contributions = 5% gross pay. Calculations based on 2022-2023 FCST wages. Ee contributions deducted from Employee Wages total. |
| Expenditure Dance Classes £ 1,140.00 |
£30 per week, term time |
| Expenditure Rent £ 2,000.00 |
Set amount |
| Expenditure Business Rates £ 1,305.60 |
Expected annual payment, less mandatory relief. |
| Expenditure Insurance & EYA Membership £ 855.00 |
Based on 2021-2022 with 2% increase |
| Expenditure Ofsted £ 220.00 |
Combined fee for Early Years and Childcare Registers. |
| Expenditure Music Licence £ 55.00 |
Based on 2021-2022 |
| Expenditure Accounts Audit £ 100.00 |
Based on 2021-2022 |
| Expenditure ICO £ 35.00 |
Based on 2021-2022 |
| Expenditure Tapestry £ 155.00 |
Based on 2021-2022 |
| Expenditure Out of School Alliance £ 45.00 |
Based on 2021-2022 |
| Expenditure Water £ 534.35 |
Based on 2021-2022 with 19% increase YOY |
| Expenditure Electricity £ 3,777.75 |
Back payments from billing issue cleared 2021-2022. NY budget based on 2021-2022 actuals with 43% increase YOY. |
| Expenditure Gas £ 2,375.31 |
Back payments from billing issue cleared 2021-2022. NY budget based on 2021-2022 actuals with 43% increase YOY. |
| Expenditure Phone & WIFI £ 456.00 |
Based on 2021-2022 |
| Expenditure Refuse Collection £ 445.00 |
Based on 2021-2022 + brown bin |
| Expenditure Sanitary Services £ 406.43 |
Based on 2021-2022 with 9% increase YOY |
| Expenditure Payroll Service Costs £ 360.00 |
Monthly charge, £30 |
| Expenditure Mainenance and Repairs £ 1,800.00 |
Includes £1200 for gardening/maintenance and £600 for unforeseen repair costs |
| Expenditure Boiler Service £ 2,412.00 |
Annual service cost + work to decommission solar cylinder and supply and fit 2 new boiler pumps |
| Expenditure Bank Fees |
£ 70.00 | £5 per month + fees when cheques are paid in |
|---|---|---|
| Expenditure H&S - Burglar Alarm |
£ 298.30 | Based on 2021-2022 with 7% increase YOY |
| Expenditure H&S - Fire Safety |
£ 230.99 | Based on 2021-2022 with 10% increase YOY |
| Expenditure H&S - PAT Testing |
£ 200.00 | No charge made in 2021-2022. Estimated budget |
| Expenditure H&S - Asbestos Inspection |
£ 280.30 | 2021-2022 total includes charges from previous year. Budget based on 2021-2022 with 2% increase YOY. |
| Expenditure H&S - PE Equipment Service |
£ 180.00 | Based on 2020-2021 |
| Expenditure H&S - First Aid Equipment |
£ 50.00 | |
| Expenditure Printing |
£ 540.00 | £44.99 per month |
| Expenditure Office Stationery |
£ 400.00 | Based on 2021-2022 |
| Expenditure Office Equipment |
£ 850.00 | Based on 2020-2021 and 2021-2022 |
| Expenditure Postage |
£ 10.00 | Small budget for stamps, if needed |
| Expenditure Marketing |
£ 150.00 | Website fee and small budget for other spend |
| Expenditure Subscriptions |
£ 200.00 | Based on 2021-2022 |
| Expenditure Play Equipment |
£ 2,800.00 | Based on 2021-2022 |
| Expenditure Craft Consumables |
£ 1,500.00 | Based on 2021-2022 |
| Expenditure Hygiene Materials |
£ 800.00 | Based on 2021-2022 |
| Expenditure Cleaning Materials |
£ 200.00 | Based on 2021-2022 |
| Expenditure Other Setting Costs |
£ 800.00 | 2021/22 included large spend on furniture that won't be needed in the current year (financed by donation). 2022-2023 budget reduced to exclude these costs. |
| Expenditure EYPP Spend |
£ - | No budget as no children eligible at start of year |
| Expenditure Travel |
£ - | No budget as no anticipated costs |
| Expenditure SEND Resources |
£ 200.00 | Budget double of PY spend and staff to be encouraged to use budget. |
| Expenditure Training |
£ 2,000.00 | Based on 2021-2022 |
| Expenditure DBS Checks |
£ 175.00 | Based on 2021-2022 |
| Expenditure Staff Uniform |
£ 200.00 | Based on 2021-2022 budget, staff changes expected |
| Expenditure Gifts |
£ 750.00 | Based on 2021-2022 |
| Expenditure Bad Debts |
£ 1,900.00 | Budget for 'free of charge' sessions given for compassionate reasons, in addition to any unpaid fees |
| Income Expenditure Income over Expenditure |
£ 209,438.84 |
|
| £ 167,786.71 |
||
| £ 41,652.13 |
||
| Budget 22-23 |
- DUCKLINGS PRE SCHOOL CREATON CIO
Registered Charity Number 1186340
Income and Expenditure Statement for the year ended 31st August 2022
| Current Year 2022 | Current Year 2022 | Prior Year | 2021 | |
|---|---|---|---|---|
| Income | £ | £ | £ | £ |
| Preschool Fees | 46,979.20 | 25,620.30 | ||
| PAYG | 3,773.50 | 0.00 | ||
| Preschool Funding | 88,067.82 | 61,491.99 | ||
| EYPP | 472.74 | 0.00 | ||
| HNF | 10,224.00 | 0.00 | ||
| Breakfast & After School Club | 6,545.00 | 0.00 | ||
| Holiday Club | 21,454.93 | 0.00 | ||
| Meals | 6,587.50 | 3,608.20 | ||
| NMRU - Milk | 698.40 | 0.00 | ||
| Childrens Uniform | 257.00 | 0.00 | ||
| Room Hire | 2,523.50 | 244.00 | ||
| Interest | 34.30 | 3.69 | ||
| Fundraising INC | 1,123.71 | 484.68 | ||
| Donations | 10,122.56 | -29.00 | ||
| Educational Skills Funding | 1,500.00 | 59.00 | ||
| Donation from Creaton Preschool (1031780) | 84,175.87 | |||
| Total Income | 200,364.16 | 175,658.73 | ||
| Direct Expenses | ||||
| Food | 2,821.32 | 1,274.66 | ||
| Milk | 698.40 | 0.00 | ||
| Children's Uniform | 199.00 | 0.00 | ||
| Total Direct Expenses | 3,718.72 | 1,274.66 | ||
| GROSS INCOME OVER EXPENDITURE | 196,645.44 | 174,384.07 | ||
| Expenses | ||||
| Employment costs | 107,797.14 | 53,321.61 | ||
| Utilities | 11,008.10 | 7,506.41 | ||
| Rent & Rates | 2,000.00 | 0.00 | ||
| Insurance | 838.19 | 0.00 | ||
| Registrations & Licensing | 338.43 | 0.00 | ||
| Finance | 149.04 | 0.00 | ||
| Health & Safety | 1,041.93 | 0.00 | ||
| Office | 2,133.88 | 607.76 | ||
| SALT, SEND & EYPP | 2,782.68 | 1,299.00 | ||
| Curriculum Enhancement | 480.00 | 0.00 | ||
| Play Equipment | 2,784.96 | 1,479.57 | ||
| Consumables (Craft) | 1,456.21 | 600.33 | ||
| Hygiene and Cleaning | 964.46 | 0.00 | ||
| Other Setting Costs | 1,318.14 | 1,698.79 | ||
| Other Staff Costs | 2,398.62 | 355.60 | ||
| Other Costs | 5,422.43 | 0.00 | ||
| Total Expenditure | 142,914.21 | 66,869.07 | ||
| Surplus | 53,731.23 | 107,515.00 | ||
| Cash | ||||
| Opening cash balance | 01-Sep-21 | 107,515.00 | 31-Jan-20 | 0.00 |
| Add current year surplus: | 53,731.23 | 107,515.00 | ||
| Closing cash balance | 31-Aug-22 | 161,246.23 | 31-Aug-20 | 107,515.00 |
Balance Sheet for the year ended 31st August 2022
| Current Assets Current Account 65,749.19 Savings Account 93,613.44 Petty Cash 8.12 Deposits not cleared 3,489.89 Total Current Assets Current Liabilities Payments not cleared 1,614.41 Total Current Liabilities Total Net Assets FINANCED BY Accumulated Fund Income over expenditure current year TOTAL EQUITY Trustee Signatures Hetty Mercer, Treasurer |
43,935.86 63,579.14 0.00 0.00 162,860.64 107,515.00 0.00 1,614.41 0.00 161,246.23 107,515.00 107,515.00 0.00 53,731.23 107,515.00 161,246.23 107,515.00 Rebekah Stephenson, Chair |
43,935.86 63,579.14 0.00 0.00 162,860.64 107,515.00 0.00 1,614.41 0.00 161,246.23 107,515.00 107,515.00 0.00 53,731.23 107,515.00 161,246.23 107,515.00 Rebekah Stephenson, Chair |
|---|---|---|
| 107,515.00 | ||
| 0.00 107,515.00 |
||
| 107,515.00 | ||
| Rebekah Stephenson, Chair |
Independent examlnerfs report to the trustees of Ducklings Pre-school I report to the trustees on my examination of the accounts of the Ducklings Pre-school (the Trust) for the period ended 31 August 2022. Responsibilities and basi5 of report As the charitys trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. 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 14515llbl of the Act. Independent examinerfs statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by section 130 of the Act,. or the accounts do not accord with those records. 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. Signed: Name.. Rebecca Bott FCA Address.. 48 Cherry Orchard Place, Northampton Date.. 13 May 2023