Callum Clay Chairs Report 14/10/2024
AGM:15/10/2024
The pre-school continues to be successful, and has taken on an even more important role in the local community. With the closure of several local nurseries, we are now one of the only pre-schools in the area, providing a vital service for families in Brant Broughton and surrounding villages. Our numbers continue to be strong and with the changes to funding, this has meant that more parents are open to sending their children to pre school earlier as there is wider funding in place.
There were some initial concerns about the suitability of the pre-school building, but a recent inspection by the local authority has deemed it safe, and they have committed to fixing the roof in October. This is good news, as it will ensure the pre-school can continue to operate effectively for years to come, our next steps being to apply for planning permission again.
I am delighted to report that the pre-school has just received a 'Good' grading from Ofsted. This is a huge achievement for the staff team, and a testament to their hard work and dedication. The feedback from Ofsted was very positive, with only minor areas for improvement identified. The staff are already working to address these, and I am confident the pre-school will continue to go from strength to strength.
Moving forward, the pre-school needs to consider our current fees as last year we created very little profit, which will be required to maintain its viability, this was mainly due to rising costs and the National living wage increase.
I would like to thank the pre-school staff for all their continued hard work and the trustees who continue to support the pre-school in a range of ways.
Brant Broughton Pre-School Charity number 1193900
Receipts and Payments Accounts For the year ended 31 August 2024
Receipts and Payments
| Receipts Fees EYE Grants Uniform sales Events General fundraising Donations Interest on savings Other Asset sales Total receipts Payments Staff costs Training Mobile classroom Rent Insurance Administration Equipment Clothing Events Other Asset purchases Total payments Net receipts/(payments) Transfer between funds Cash funds last year end Cash funds this year end |
Unrestricted funds Restricted funds Total 2024 £ £ £ 19,216 0 19,216 61,964 0 61,964 337 0 337 372 0 372 85 0 85 0 0 0 0 0 0 106 0 106 82,081 0 82,081 0 0 0 82,081 0 82,081 67,193 0 67,193 322 0 322 5,030 0 5,030 500 0 500 808 0 808 2,767 0 2,767 1,333 0 1,333 257 0 257 732 0 732 1,529 0 1,529 80,471 0 80,471 0 0 0 80,471 0 80,471 1,609 0 1,609 0 0 0 47,037 0 47,037 48,646 0 48,646 |
Total 2023 £ 27,842 46,417 247 1,203 16 0 0 6 |
|---|---|---|
| 75,732 0 |
||
| 75,732 60,551 72 5,398 500 782 3,456 157 435 546 853 |
||
| 72,750 0 |
||
| 72,750 | ||
| 2,983 | ||
| (16,636) 60,690 |
||
| 47,037 |
Brant Broughton Pre-School Charity number 1193900
Receipts and Payments Accounts For the year ended 31 August 2024
Statement of Assets and Liabilities as the Year End
| Cash Funds Current Deposit Cash Funds Total cash funds Other monetary assets Fees due Assets retained for the charities own use Temporary classroom building Garden improvements Furniture, fixtures and fittings Computer equipment Liabilities |
Unrestricted funds Restricted funds Total 2024 £ £ £ 47,821 0 47,821 0 0 0 826 0 826 48,646 0 48,646 Unrestricted funds Restricted funds Total 2024 £ £ £ 175 0 175 Unrestricted Unrestricted Unrestricted Unrestricted Amount due When Due £ Funds to which asset belongs Fund to which asset belongs |
|---|---|
Signed on behalf of all trustees on
by C Clay Chairperson
Brant Broughton Pre-School Charity number 1193900
Financial Review For the year ended 31 August 2024
The accounts for the financial year 31 August 2024 have been prepared and give an indication of the financial position of the Preschool during the last twelve months as well as the onward position for the coming financial year. As per the guidelines, the present position will require an independent examination prior to formal submission to the Charities Commission. Once published, they will be available on their website.
Results
The Preschool end of year accounts for 2023/2024 show a total income of £82,081 compared to £75,732 in 2022/23, an increase of £6,349. Overall costs for 2023/24 were £80,471 compared with £72,750 in the previous year. An increase of £7,721.
Fees have decreased by £8,626 and Early Years funding has increased by £15,547 compared to the previous year. This is due to the hourly rate changes in Early Years funding, and the increased number of under 2 year olds within the setting. The Preschool continue to offer Breakfast and After Preschool clubs along with early and late drop offs, providing the much needed wrap around care for parents.
The Preschool were fortunate in securing a £1200 Grant from the Parish Council, which was used to purchase a new Laptop and a much needed outdoor storage facility for play equipment. A variety of fundraising activities and events took place throughout the year raising £457 for the Preschool. This would not be possible without the commitment of the Preschool staff, including support from families and the local community. A number of parents benefited from the continuation of the Household Support Fund, which was offered to several parents in December and June. Monies were re-distributed to parents and is shown in the 'other' income section of the accounts.
Preschool expenditure was £80,471 compared to £72,750 in the previous year. This was mainly due to the changes in the National Living Wage in April 2024, which resulted in an increase to staff pay costs. The continued employment of an additional member of staff also contributed to the increased staff costs.
Preschool staff maintain their commitment to continuous professional development, attending mandatory Health & Safety and First Aid training courses, which comes at a cost to the setting. The Administration costs are lower than the previous year, mainly due to an invoice being paid in September, and the HMRC Tax Return fee not due in the current year. Equipment costs have been offset by the Parish Council Grant, received in March 2024. Additional classroom events and activities were organised by the Preschool staff, such as Teddy Tombola, Count the Sweets and Donut Day all of which continue to provide valuable enrichment activities as well as promoting the quality of the provision
Rental and rate charges have largely remained the same, with a minimal increase in North Kesteven District Council Recycling costs. Fees in the amount £194 have been written of as a bad debt in the current year, despite every effort to communicate with the parents. Other outstanding fees of £175 are expected to be paid in the following year. Invoices for electricity charges have become sporadic this year, This will need to be addressed in the coming year.
Although the accounts show a positive outcome, this has been reduced compared to the previous years' accounts. We therefore need to ensure that we closely monitor ongoing expenditure, or consider an increase in fees.
Reserves policy
The trustees are committed to working towards holding a figure that would cover the cost of redundancy and building removal in the form of 'restricted reserves'. This is a long term goal which can be achieved by increasing the restricted reserve fund to meet the predicted costs when financial circumstances allow.
Independent examiner's report on the accounts Section A Independent Examinevs Report Report to the twstpes BRANT BROUGHTON PRESCHOOL On accounts for the year ended 31°: AUGUST 2024 Charity no lif any) 1193900 Set out on pages11.2 I report lo the trustees on my examination of the accounts of the above charity ("Ihe Trust-) lor the year ended 31108 12024. Responsibilities and basls of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requiremenls of Ihe Charities Act 2011 ("the Act-l. I report in respect of my examinaiion of ihe Trusl's accounts carfied out under section 145 of the 2011 A and in ¢arrying out my examination. I have followed all Ihe applicab Direclions given by Ihe Charity Commission under section 145151(b) of ihe Act. Independent I have completed my examination. I confirm that no malerial matters have examinerfs statement come to my allenlion in connection wilh the examination which gives me cause to believe that in. any maieroi respect". the accounting records were not kept in accordance with sects'on 130 of the Charities Act.. or the accounts did not accord with the accounting records,. or I have no concerns and have come across no other mallers in conneclion with the examination lo which allenlion should be drawn in this report in order lo enable a proper Understandi of the accounts to be reached. Signed: Date: 13.03.2CI25 Name: Deboiah Tomblin Relevant professional qualifi¢atlon{sl or body (if any): Fellow Member of the Association of Accounting Technicians IFMAAT) Address: 29 Millfield Crescent. Caythorpe. Granlham. Lincs NG32 3HG IER Oct 2018
Section B Disclosure Only Gorriplele li ifie eAatriiner fleeob lo highlighi rrialerial ffiaiie15 01 conGer (see CC32. Independent examinalion of charity accounts,. directions and 9uidance for examine). Glve here brief detalls of any items that the exarniner wishes to disclose. IER Oct 2018