## **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**<br>**Note**<br>**2021-22**<br>**Income**<br>Nursery Funding<br>40,355.84<br>Fees<br>16,597.78<br>2yr Old Funding<br>16,471.46<br>Furlough Funding<br>-<br>WBC Extra Funding<br>954.00<br>Admin Fees<br>511.50<br>Late Collection Fee<br>-<br>Consumables<br>2,712.11<br>Interest Received<br>3.24<br>Gift Aid<br>729.93<br>Other Income<br>164.40<br>78,500.26<br>**Fund Raising**<br>Fundraising Income<br>2,506.32<br>T-Towel Sales<br>53.00<br>Merchandise Sales<br>75.50<br>Donations<br>245.85<br>2,880.67|**Activity**<br>**Note**<br>**2021-22**<br>**Income**<br>Nursery Funding<br>40,355.84<br>Fees<br>16,597.78<br>2yr Old Funding<br>16,471.46<br>Furlough Funding<br>-<br>WBC Extra Funding<br>954.00<br>Admin Fees<br>511.50<br>Late Collection Fee<br>-<br>Consumables<br>2,712.11<br>Interest Received<br>3.24<br>Gift Aid<br>729.93<br>Other Income<br>164.40<br>78,500.26<br>**Fund Raising**<br>Fundraising Income<br>2,506.32<br>T-Towel Sales<br>53.00<br>Merchandise Sales<br>75.50<br>Donations<br>245.85<br>2,880.67|**2020-21**<br>**Variance £**<br>**Variance %**<br>64,822.25<br>(24,466.41)<br>(37.74%)<br>12,049.15<br>4,548.63<br>37.75%<br>10,424.84<br>6,046.62<br>58.00%<br>-<br>-<br>-<br>198.75<br>755.25<br>380.00%<br>680.00<br>(168.50)<br>(24.78%)<br>-<br>-<br>-<br>2,356.50<br>355.61<br>15.09%<br>5.81<br>(2.57)<br>(44.23%)<br>691.55<br>38.38<br>5.55%<br>-<br>164.40<br>-<br>91,228.85<br>(12,728.59)<br>(13.95%)<br>1,975.20<br>531.12<br>26.89%<br>240.00<br>(187.00)<br>(77.92%)<br>176.40<br>(100.90)<br>(57.20%)<br>88.13<br>157.72<br>178.96%<br>2,479.73<br>400.94<br>16.17%|
|---|---|---|
|**Total Income**|**81,380.93**|**93,708.58**<br>**(12,327.65)**<br>**(13.16%)**|
|**Regular Expenditure**<br>Salaries<br>Rent<br>Consumables Exp<br>Insurance<br>Equipment<br>Fundraising Costs<br>Merchandise Costs<br>T-Towel Costs<br>Training Courses<br>Mobile Phone<br>Cleaning Costs<br>IT Costs<br>DBS<br>Staff Costs - End of Term Vouchers<br>Stationery / Craft Materials<br>Other Expenditure<br>**Irregular Expenditure**<br>Extension|89,102.72<br>13,205.25<br>327.79<br>1,159.80<br>19.98<br>321.77<br>-<br>4.85<br>204.00<br>109.23<br>38.98<br>485.51<br>160.23<br>-<br>445.26<br>585.67<br>106,171.04<br>-<br>-|82,602.76<br>6,499.96<br>7.87%<br>11,961.80<br>1,243.45<br>10.40%<br>250.78<br>77.01<br>30.71%<br>1,134.18<br>25.62<br>2.26%<br>33.50<br>(13.52)<br>(40.36%)<br>934.60<br>(612.83)<br>(65.57%)<br>233.70<br>(233.70)<br>(100.00%)<br>251.80<br>(246.95)<br>(98.07%)<br>177.00<br>27.00<br>15.25%<br>176.51<br>(67.28)<br>(38.12%)<br>24.29<br>14.69<br>60.48%<br>961.18<br>(475.67)<br>(49.49%)<br>53.20<br>107.03<br>201.18%<br>900.00<br>(900.00)<br>(100.00%)<br>434.42<br>10.84<br>2.50%<br>520.15<br>65.52<br>12.60%<br>100,649.87<br>5,521.17<br>5.49%<br>-<br>-<br>-<br>-<br>-<br>-|
|**Total Expenditure**|**106,171.04**|**100,649.87**<br>**5,521.17**<br>**5.49%**|
|**Net Surplus or(Deficit)**|**(24,790.11)**|**(6,941.29)**<br>**(17,848.82)**<br>**257.14%**|





## **Balance Sheet as at 31-Aug-2022** 


**----- Start of picture text -----**<br>
Category Note 2021-22 2020-21 Variance £ Variance %<br>Assets<br>Bank<br>Bank (Current) 3,144.23 26,198.75 (23,054.52) (88.00%)<br>Bank (Deposit) 18,268.14 27,227.23 (8,959.09) (32.90%)<br>Petty Cash Balances 82.70 118.48 (35.78) (30.20%)<br>Prepayments<br>Insurance 676.55 661.60 14.95 2.26%<br>Pending Banking<br>Misc - - - -<br>Total Assets 22,171.62 54,206.06 32,034.44 (59.10%)<br>Liabilities<br>WBC Funding for Autumn Fund (15,018.72) (23,742.57) 8,723.85 (36.74%)<br>Accruals<br>Rent, Earley Town Council (2,314.00) (851.50) (1,462.50) 171.76%<br>- - - -<br>Holiday Pay<br>HMRC - (644.47) 644.47 (100.00%)<br>Other (688.95) (1,151.71) 462.76 (40.18%)<br>Total Liabilities (18,021.67) (26,390.25) 8,368.58 (31.71%)<br>Total Balance 4,149.95 27,815.81 (23,665.86) (85.08%)<br>Fund Breakdown<br>Redundancy Fund 18,248.14 15,470.07 2,778.07 17.96%<br>Working Fund (14,098.19) 12,345.74 (26,443.93) (214.19%)<br>Total Funds 4,149.95 27,815.81 (23,665.86) (85.08%)<br>**----- End of picture text -----**<br>




## 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".