2021-08-31-accounts - Kilnsea Playgroup

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Annual Report for Charities Commission 2020/2021

The Financial report covers the accounts September 2020 to August 2021 and have been prepared by Rachel Carter, our Finance Officer. (It is hard to compare figures like for like to last years as we were closed March 2020-July 2020 so I may refer back to 2018/2019 to compare with a “normal” year)

Challenges Faced:.

• Our Nursery Funding that we received from Wokingham Borough Council for eligible 3 and 4 year olds increase by +£1699.45 but if we compare to 2019/2020 (pre covid) we were down -£2953.66

• Fee’s are payments we receive for any non-funded children attending or if funding children attend extra hours. Although we were + £450.89 this year we were a huge -£6040.05 compared to 2018/2019 (pre-covid). Some children didn’t attend whilst some lockdown restrictions were in place resulting in a £600 loss in fees for the spring term.

• 2 yr old funding that we received from Wokingham Borough Council for eligible 2 year olds increase by +£3063.33 and this is similar to 2018/2019 (pre-covid). Having more younger children ( 2 year olds) affects the number of children we can have in a session and so we either have to have more staff per session or less children per session due to Ofsted Ratio’s.

• Overall our income was +£2218.96 which is good but if we compare to pre-covid 2018/2019 we were -£5692.81

• Furlough funding ceased in Sept 2020 when pre-school fully reopened resulting in a £4500 loss of funding on the year.

• Salaries have increase +£4049.54 this is mostly due to increase in minimium wage.

• Rent has increase by +£2145.42 this is due to a rent increase by Earley town Council. We only rent the room for the minimum hours we need allowing for setting up and putting away at the start/end of the sessions. We have asked multiple times for a rent decrease as we are a registered charity and we are the main hirers of the community center but have never been successful and so we have to pay the going rate like everyone else.

• IT costs are up £500 as we invested and upgraded our laptop which was essential.

• Fundraising increase by +£1178.82 however this is due to covid and last year we wasn’t able to fundraise like we usually do. Also once you take off the Fundraising/Tea Towel/ Merchandise costs off this we haven't made any fundraising profit this year compared to last year.

• We will continue to claim gift aid on any eligible donations. We

claimed +£691.55 which is amazing.

Continued single entry into Primary Schools: This means that the numbers drop significantly in July. The autumns terms numbers are very low resulting in us making a financial loss over the term, We also need to retain the 2 year olds as some move to a pre-school attached to a primary school once their 3 year old funding starts. Over the year our numbers do increase but we can only go on previous trends to predict numbers on register for the year.

Increase in minimum wage: This is rising at a greater rate than we are receiving from the government for funding. This year it increase to £8.91 (from £8.72) and is expected to increase to £9.50 in April 2022. This affects our working fund due to significant increase in all salaries.

Funding: The funding given by the government is not being raised at the same rate as the minimum wage.

Overall, our income was £93708.58 for the year and our expenditure was £100649.87. Which means we overspent by £6941.29 overall. It has been a very challenging year with COVID still being part of our day to day life.

Our working fund figure is £12345 which is a significant decrease on last year so we must remain cautious as our sessions and forecasted numbers are low and although they do normally increase, we cannot assume it and have to work within the facts we currently have.

= New catergories Added 2020/21

Kilnsea Pre-School

Annual Income Statement for the year ending 31-Aug-2021

Activity Note Income Nursery Funding Fees 2yr Old Funding Furlough Funding WBC Extra Funding Admin Fees Late Collection Fee Consumables Interest Received Gift Aid Other Income Fund Raising Fundraising Income T-Towel Sales Merchandise Sales Donations	2020-21 64,822.25 12,049.15 10,424.84 - 198.75 680.00 - 2,356.50 5.81 691.55 - 91,228.85 1,975.20 240.00 176.40 88.13 2,479.73	2019-20 63,122.80 11,598.26 7,361.51 4,542.60 1,053.74 780.00 20.00 21.00 74.01 435.97 - 89,009.89 902.41 213.50 173.00 12.00 1,300.91
Total Income	93,708.58	90,310.80
Regular Expenditure Salaries Rent Consumables Exp Insurance Equipment Fundraising Costs Merchandise Costs T-Towel Costs Training Courses Mobile Phone Cleaning Costs IT Costs DBS Staf Costs - End of Term Vouchers Stationery / Craft Materials Other Expenditure Irregular Expenditure Extension	82,602.76 11,961.80 250.78 1,134.18 33.50 934.60 233.70 251.80 177.00 176.51 24.29 961.18 53.20 900.00 434.42 520.15 100,649.87 - -	78,553.22 9,816.38 341.57 1,132.93 - 315.00 159.25 329.00 75.00 226.05 173.47 427.58 146.60 - - 1,614.28 93,310.33 - -
Total Expenditure	100,649.87	93,310.33

Net Surplus or(Defcit)	(6,941.29)	(2,999.53)

= New catergories Added 2020/21

Kilnsea Pre-School

Balance Sheet as at 31-Aug-2020

Category	2020-21	2019-20	Variance £	Variance %
Assets
Bank
Bank (Current)	26,198.75	26,900.04	(701.29)	(2.61%)
Bank (Deposit)	27,227.23	27,221.42	5.81	0.02%
Petty Cash Balances	118.48	100.49	17.99	17.90%
Prepayments
Insurance	661.60	660.87	0.73	0.11%
Pending Banking
Misc	-	-	-	-
Total Assets	54,206.06	54,882.82	676.76	(1.23%)
Liabilities
WBC Funding for Autumn Fund	(23,742.57)	(19,584.25)	(4,158.32)	21.23%
Accruals
Rent, Earley Town Council	(851.50)	(1,410.50)	559.00	(39.63%)
Holiday Pay	-		-	-
HMRC	(644.47)	(324.32)	(320.15)	98.71%
Other	(1,151.71)	(836.54)	(315.17)	37.68%
Total Liabilities	(26,390.25)	(22,155.61)	(4,234.64)	19.11%

Total Balance	27,815.81	32,727.21	(4,911.40)	(15.01%)
Fund Breakdown
Redundancy Fund	15,470.07	16,178.58	(708.51)	(4.38%)
Working Fund	12,345.74	16,548.63	(4,202.89)	(25.40%)
Total Funds	27,815.81	32,727.21	(4,911.40)	(15.01%)

Kilnsea Pre-School

Account Reconciliations 2020-2021

Account Reconciliations 2020-2021
Bank Account Bank Balance B/F @ 01-Sep-2020 Receipts Payments Bank Balance C/F @ 31-Aug-2021 Pending Transactions Uncleared Bank Balance C/F @ 31-Aug-2021 Committed Funds None Pending Banking None Available Bank Balance C/F @ 31-Aug-2021 Petty Cash Petty Cash Balance B/F @ 01-Sep-2020 Receipts Payments Petty Cash Balance C/F @ 31-Aug-2021 Treasurer's Float Treasurer's Float Balance B/F @ 01-Sep-2020 Receipts Payments Treasurer's Float C/F @ 31-Aug-2021 Savings Account Savings Account Balance B/F @ 01-Sep-2020 Receipts Payments Savings Account Balance C/F @ 31-Aug-2021 Accounting Adjustments Accounting Adj Balance B/F @ 01-Sep-2020 Receipts Payments Accounting Adj Balance C/F @ 31-Aug-2021 Total Balances Bank Account Reconciliation Opening Balance (01-Sep-20) Add Surplus/Defcit Add Accounting Adjustments Add Back Uncleared Transactions Add Back Petty Cash Movement Add Back Treasurer's Cash Movement Add Back Movement on Savings = Interest Closing Balance (Calculated) Actual Closing Balance (31-Aug-21)	£ £ 26,900.04 100,119.72 (100,821.01) (701.29)
	26,198.75 - 26,198.75 - - - - - -
	26,198.75 £ £ 54.89 100.00 (82.01) 17.99
	72.88 £ £ 45.60 - - -
	45.60 £ £ 27,221.42 5.81 - 5.81
	27,227.23 £ £ (17,111.65) 22,320.01 (28,583.81) (6,263.80)
	(23,375.45) 30,169.01 26,900.04 (6,941.29) 6,263.80 - (17.99) (5.81) 26,198.75 26,198.75

Balance Variance {should be zero)

I have examined the accounts of Kilnsea Pre-school with the books and records supplied to me and to the best of my information and belief, the said accounts show a true and fair view of the accounts for the year 2020/2021 and of the state of affairs as at August 2021. Signed: Print name: Jo-tsJJ A- Y IkttQLLA Date: 4L"/ 21