Annual report for Chari�es Commission 2021 – 2022
The Financial report covers the accounts from September 2021 to August 2022 and have been prepared by Rachel Carter, our Finance Officer.
Challenges Faced:
-
Our Nursery Funding that we received from Wokingham Borough Council for eligible 3- and 4-year-olds was down a huge -£24466.41 compared to last year.
-
Fees are payments we receive for any non-funded children attending or if funding children attend extra hours. Although we were +£4548.63 compared to last year it doesn’t cover the funding deficit.
-
2-year-old funding that we received from Wokingham Borough Council for eligible 2-year-olds increased by +£6046.62. Having more younger children (2year-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. (As a comparison we can have 8 x 3- and 4-year-olds per member of staff compared to just 4 x 2-year-olds)
-
Overall, our income was -£12728.59
-
Salaries have increased +£6499.96. This is mostly due to the minimum wage increase this year to £9.50 (from £8.91), long-term staff sickness, maternity cover and being overstaffed in the summer term.
-
Rent has increased by +£1243.45 . 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 centre but have never been successful and so we have to pay the going rate like everyone else.
-
Fundraising increased by +£400.94 although once you take off the Fundraising/Tea Towel/ Merchandise costs off this we have only made £74.32 fundraising profit this year compared to last year.
-
We continue to claim gift aid on any eligible donations. We claimed + £729.93 .
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.
Minimum wage: This is rising at a greater rate than the government funding we receive. This year it increased to £9.50 (from £8.91) and is expected to increase to £10.42 in April 2023. This will affect our working fund due to a significant increase in salaries.
Funding: The funding given by the government is not being increased at the same rate as the minimum wage.
Overall, our income was £81380.93 for the year and our expenditure was £106171.04. Which means we overspent by £24790.11 overall. It has been a very challenging year with an EGM being called by our previous Chair in July and our preschool almost closing.
Kilnsea Pre-School
Annual Income Statement for the year ending 31-Aug-2022
| Activity Note 2021-22 Income Nursery Funding 40,355.84 Fees 16,597.78 2yr Old Funding 16,471.46 Furlough Funding - WBC Extra Funding 954.00 Admin Fees 511.50 Late Collection Fee - Consumables 2,712.11 Interest Received 3.24 Gift Aid 729.93 Other Income 164.40 78,500.26 Fund Raising Fundraising Income 2,506.32 T-Towel Sales 53.00 Merchandise Sales 75.50 Donations 245.85 2,880.67 |
Activity Note 2021-22 Income Nursery Funding 40,355.84 Fees 16,597.78 2yr Old Funding 16,471.46 Furlough Funding - WBC Extra Funding 954.00 Admin Fees 511.50 Late Collection Fee - Consumables 2,712.11 Interest Received 3.24 Gift Aid 729.93 Other Income 164.40 78,500.26 Fund Raising Fundraising Income 2,506.32 T-Towel Sales 53.00 Merchandise Sales 75.50 Donations 245.85 2,880.67 |
2020-21 Variance £ Variance % 64,822.25 (24,466.41) (37.74%) 12,049.15 4,548.63 37.75% 10,424.84 6,046.62 58.00% - - - 198.75 755.25 380.00% 680.00 (168.50) (24.78%) - - - 2,356.50 355.61 15.09% 5.81 (2.57) (44.23%) 691.55 38.38 5.55% - 164.40 - 91,228.85 (12,728.59) (13.95%) 1,975.20 531.12 26.89% 240.00 (187.00) (77.92%) 176.40 (100.90) (57.20%) 88.13 157.72 178.96% 2,479.73 400.94 16.17% |
|---|---|---|
| Total Income | 81,380.93 | 93,708.58 (12,327.65) (13.16%) |
| Regular Expenditure Salaries Rent Consumables Exp Insurance Equipment Fundraising Costs Merchandise Costs T-Towel Costs Training Courses Mobile Phone Cleaning Costs IT Costs DBS Staff Costs - End of Term Vouchers Stationery / Craft Materials Other Expenditure Irregular Expenditure Extension |
89,102.72 13,205.25 327.79 1,159.80 19.98 321.77 - 4.85 204.00 109.23 38.98 485.51 160.23 - 445.26 585.67 106,171.04 - - |
82,602.76 6,499.96 7.87% 11,961.80 1,243.45 10.40% 250.78 77.01 30.71% 1,134.18 25.62 2.26% 33.50 (13.52) (40.36%) 934.60 (612.83) (65.57%) 233.70 (233.70) (100.00%) 251.80 (246.95) (98.07%) 177.00 27.00 15.25% 176.51 (67.28) (38.12%) 24.29 14.69 60.48% 961.18 (475.67) (49.49%) 53.20 107.03 201.18% 900.00 (900.00) (100.00%) 434.42 10.84 2.50% 520.15 65.52 12.60% 100,649.87 5,521.17 5.49% - - - - - - |
| Total Expenditure | 106,171.04 | 100,649.87 5,521.17 5.49% |
| Net Surplus or(Deficit) | (24,790.11) | (6,941.29) (17,848.82) 257.14% |
Balance Sheet as at 31-Aug-2022
----- Start of picture text -----
Category Note 2021-22 2020-21 Variance £ Variance %
Assets
Bank
Bank (Current) 3,144.23 26,198.75 (23,054.52) (88.00%)
Bank (Deposit) 18,268.14 27,227.23 (8,959.09) (32.90%)
Petty Cash Balances 82.70 118.48 (35.78) (30.20%)
Prepayments
Insurance 676.55 661.60 14.95 2.26%
Pending Banking
Misc - - - -
Total Assets 22,171.62 54,206.06 32,034.44 (59.10%)
Liabilities
WBC Funding for Autumn Fund (15,018.72) (23,742.57) 8,723.85 (36.74%)
Accruals
Rent, Earley Town Council (2,314.00) (851.50) (1,462.50) 171.76%
- - - -
Holiday Pay
HMRC - (644.47) 644.47 (100.00%)
Other (688.95) (1,151.71) 462.76 (40.18%)
Total Liabilities (18,021.67) (26,390.25) 8,368.58 (31.71%)
Total Balance 4,149.95 27,815.81 (23,665.86) (85.08%)
Fund Breakdown
Redundancy Fund 18,248.14 15,470.07 2,778.07 17.96%
Working Fund (14,098.19) 12,345.74 (26,443.93) (214.19%)
Total Funds 4,149.95 27,815.81 (23,665.86) (85.08%)
----- End of picture text -----
Kilnsea Pre-School
Account Reconciliations 2021-2022
| Account Reconciliations 2021-2022 | ||
|---|---|---|
| Bank Account | £ | £ |
| Bank Balance B/F @ 01-Sep-2021 | 26,198.75 | |
| Receipts | 88,917.81 | |
| Payments | (111,972.33) | (23,054.52) |
| Bank Balance C/F @ 31-Aug-2022 | 3,144.23 | |
| Pending Transactions | - | |
| Uncleared Bank Balance C/F @ 31-Aug-2022 | 3,144.23 | |
| Committed Funds | ||
| None | - | |
| Pending Banking | - | - |
| None | - | |
| - | - | |
| Available Bank Balance C/F @ 31-Aug-2022 | 3,144.23 | |
| Petty Cash | £ | £ |
| Petty Cash Balance B/F @ 01-Sep-2021 | 72.88 | |
| Receipts | - | |
| Payments | (35.78) | (35.78) |
| Petty Cash Balance C/F @ 31-Aug-2022 | 37.10 | |
| Treasurer's Float | £ | £ |
| Treasurer's Float Balance B/F @ 01-Sep-2021 | 45.60 | |
| Receipts | - | |
| Payments | - | - |
| Treasurer's Float C/F @ 31-Aug-2022 | 45.60 | |
| Savings Account | £ | £ |
| Savings Account Balance B/F @ 01-Sep-2021 | 27,227.23 | |
| Receipts | 6,040.91 | |
| Payments | (15,000.00) | (8,959.09) |
| Savings Account Balance C/F @ 31-Aug-2022 | 18,268.14 | |
| Accounting Adjustments | £ | £ |
| Accounting Adj Balance B/F @ 01-Sep-2021 | (23,375.45) | |
| Receipts | 26,225.95 | |
| Payments | (18,966.67) | 7,259.28 |
| Accounting Adj Balance C/F @ 31-Aug-2022 | (16,116.17) | |
| Total Balances | 5,378.90 | |
| Bank Account Reconciliation | ||
| Opening Balance (01-Sep-21) | 26,198.75 | |
| Add Surplus/Deficit | (24,790.11) | |
| Add Accounting Adjustments | (7,259.28) | |
| Add Back Uncleared Transactions | - | |
| Add Back Petty Cash Movement | 35.78 | |
| Add Back Treasurer's Cash Movement | ||
| Add Back Movement on Savings = Interest & Transfers | 8,959.09 | |
| Closing Balance (Calculated) | 3,144.23 | |
| Actual Closing Balance (31-Aug-22) | 3,144.23 | |
| Balance Variance(should be zero) | - |
nlhed thè aeeountÉ of Kllnsea" PrÈ- ooks and records supplied to me and to the best of my .'4nformation and belief, the said accounts show a true and fair view of the accounts for the year 2021/2022 and of the state of affairs as of 31 August 2022. Signed Print name: Date".