## **Annual report for Chari�es Commission 2022 – 2023** The Financial report covers the accounts from September 2022 to August 2023 and have been prepared by Jennifer Sco�, our Finance Officer. ## **Differences:** Receipts: - - Early Years’ Funding received from Wokingham Borough Council for eligible 3- and 4- year-olds went up a huge **£26,155.07** compared to last year. This is due to having many more child-hours on the register. - Fees paid (for any non-funded children or funded children a�ending extra hours) were also up by **£14,930.06** compared to last year. Also due to having more child-hours. - Early Years’ funding received from Wokingham Borough Council for eligible 2-year-olds reduced by **£2,656.46** . Having fewer younger children (2-year-olds) allows us to increase the number of children in a session, or have fewer staff available (as Ofsted Ra�os require more staff for 2-year-olds than 3- & 4-year-olds). - Income from admin fees went **up by nearly 80%** , the result of having more children on the register. - Our gi� aid claims went **up by 25%** . Payments: - - Salaries have reduced by **£10,682.45** . This is despite increases to the minimum wage and an increase in the number of children in each session. This reduc�on is partly due to cu�ng the number of staff available for se�ng up and packing away, a challenge with which the staff coped admirably. - Rent has increased by **£269.13** . - Expenses on consumables has increased, due to increased children in the se�ng, and increased food and materials costs. - The increased funds available allowed for the purchase of a much-needed new printer and some addi�onal Tuff trays. - you for their hard work during the financially challenging first half of the year. ## **Possible challenges in 23-24** Increase in minimum wage: This is rising at a greater rate than we are receiving from the government for funding. This year it increased to £10.42 (from £9.50) and is expected to increase to £11.44 in April 2024. This will affect our working fund due to a significant increase in all salaries. Garden redesign: We are currently in the process of designing a new garden area for the children. This will come at significant cost but is long overdue and will much improve the setting. We will have a new fundraising team going forward from this AGM with their focus being on fundraising as much as possible, if you have any suggestions of fundraising ideas, please do let us know. Overall, our income was **£120,714.31** for the year and our expenditure was **£95,820.67.** Which means we underspent by **£24,893.64** . This is a fantastic achievement following the loss of a similar amount suffered last year. Massive congratulations and thanks to the Pre-school aunties, officers, committee and parents for their hard work making this happen. ## **Kilnsea Pre-School** ## **Annual Income Statement for the year ending 31-Aug-2023** |**Activity**
**Note**
**2022-23**
**Income**
Nursery Funding
66,510.91
Fees
31,527.84
2yr Old Funding
13,815.00
WBC Extra Funding
1,031.28
Admin Fees
920.00
Consumables
3,269.68
Interest Received
43.04
Gift Aid
914.93
Other Income
37.98
118,070.66
**Fund Raising**
Fundraising Income
2,638.65
Merchandise Sales
5.00
Donations
-
2,643.65|**Activity**
**Note**
**2022-23**
**Income**
Nursery Funding
66,510.91
Fees
31,527.84
2yr Old Funding
13,815.00
WBC Extra Funding
1,031.28
Admin Fees
920.00
Consumables
3,269.68
Interest Received
43.04
Gift Aid
914.93
Other Income
37.98
118,070.66
**Fund Raising**
Fundraising Income
2,638.65
Merchandise Sales
5.00
Donations
-
2,643.65|**2021-22**
**Variance £**
**Variance %**
40,355.84
26,155.07
64.81%
16,597.78
14,930.06
89.95%
16,471.46
(2,656.46)
(16.13%)
954.00
77.28
8.10%
511.50
408.50
79.86%
2,712.11
557.57
20.56%
3.24
39.80
1228.40%
729.93
185.00
25.34%
164.40
(126.42)
(76.90%)
78,500.26
39,570.40
50.41%
2,559.32
79.33
3.10%
75.50
(70.50)
(93.38%)
245.85
(245.85)
(100.00%)
2,880.67
(237.02)
(8.23%)| |---|---|---| |**Total Income**|**120,714.31**|**81,380.93**
**39,333.38**
**48.33%**| |**Regular Expenditure**
Salaries
Rent
Consumables Exp
Insurance
Equipment
Fundraising Costs
Merchandise Costs
Training Courses
Mobile Phone
Cleaning Costs
IT Costs
DBS
Staff Costs - End of Term Vouchers
Other Expenditure
**Irregular Expenditure**
Extension|78,420.27
13,474.38
898.85
1,194.18
340.55
58.42
99.54
130.99
188.15
145.68
222.59
157.89
150.00
339.18
95,820.67
-
-|89,102.72
(10,682.45)
(11.99%)
13,205.25
269.13
2.04%
773.05
125.80
16.27%
1,159.80
34.38
2.96%
19.98
320.57
1604.45%
326.62
(268.20)
(82.11%)
-
99.54
-
204.00
(73.01)
(35.79%)
109.23
78.92
72.25%
38.98
106.70
273.73%
485.51
(262.92)
(54.15%)
160.23
(2.34)
(1.46%)
-
150.00
-
585.67
(246.49)
(42.09%)
106,171.04
(10,350.37)
(9.75%)
-
-
-
-
-
-| |**Total Expenditure**|**95,820.67**|**106,171.04**
**(10,350.37)**
**(9.75%)**| |**Net Surplus or (Deficit)**|**24,893.64**|**(24,790.11)**
**49,683.75**
**(200.42%)**| ## **Balance Sheet as at 31-Aug-2023** **----- Start of picture text -----**
Category Note 2022-23 2021-22 Variance £ Variance %
Assets
Bank
Bank (Current) 43,380.73 3,144.23 40,236.50 1279.69%
Bank (Deposit) 11,198.63 18,268.14 (7,069.51) (38.70%)
Petty Cash Balances 75.60 82.70 (7.10) (8.59%)
Prepayments
Insurance 676.55 676.55 - -
Pending Banking
Misc - - - -
Total Assets 55,331.51 22,171.62 33,159.89 149.56%
Liabilities
WBC Funding for Autumn Fund (28,079.26) (15,018.72) (13,060.54) 86.96%
Accruals
Rent, Earley Town Council - (2,314.00) 2,314.00 (100.00%)
- - - -
Holiday Pay
HMRC - - - -
Other (703.29) (1,633.95) 930.66 (56.96%)
Total Liabilities (28,782.55) (18,966.67) (9,815.88) 51.75%
Total Balance 26,548.96 3,204.95 23,344.01 728.37%
Fund Breakdown
Redundancy Fund 11,528.09 18,248.14 (6,720.05) (36.83%)
Working Fund 15,020.87 (15,043.19) 30,064.06 (199.85%)
Total Funds 26,548.96 3,204.95 23,344.01 728.37%
**----- End of picture text -----**
## Kilnsea Pre-School ## **Account Reconciliations 2022-2023** |**Account Reconciliations 2022-2023**||| |---|---|---| |**Bank Account**|£|£| |**Bank Balance B/F @ 01-Sep-2022**||**3,144.23**| |Receipts|143,307.08|| |Payments|(103,070.58)|40,236.50| |**Bank Balance C/F @ 31-Aug-2023**||**43,380.73**| |_Pending Transactions_||-| |**Uncleared Bank Balance C/F @ 31-Aug-2023**||**43,380.73**| |_Committed Funds_||| |None|-|| |_Pending Banking_|-|-| |None|-|| ||-|-| |**Available Bank Balance C/F @ 31-Aug-2023**||**43,380.73**| |**Petty Cash**|£|£| |**Petty Cash Balance B/F @ 01-Sep-2022**||**37.10**| |Receipts|-|| |Payments|(7.10)|(7.10)| |**Petty Cash Balance C/F @ 31-Aug-2023**||**30.00**| |**Treasurer's Float**|£|£| |**Treasurer's Float Balance B/F @ 01-Sep-2022**||**45.60**| |Receipts|-|| |Payments|-|-| |**Treasurer's Float C/F @ 31-Aug-2023**||**45.60**| |**Savings Account**|£|£| |**Savings Account Balance B/F @ 01-Sep-2022**||**18,268.14**| |Receipts|2,505.73|| |Payments|(9,575.24)|(7,069.51)| |**Savings Account Balance C/F @ 31-Aug-2023**||**11,198.63**| |**Accounting Adjustments**|£|£| |**Accounting Adj Balance B/F @ 01-Sep-2022**||**(18,966.67)**| |Receipts|20,516.30|| |Payments|(28,782.55)|(8,266.25)| |**Accounting Adj Balance C/F @ 31-Aug-2022**||**(27,232.92)**| |**Total Balances**||**27,422.04**| |**Bank Account Reconciliation**||| |**Opening Balance (01-Sep-22)**||**3,144.23**| |Add Surplus/Deficit||24,893.64| |Add Accounting Adjustments||8,266.25| |Add Back Uncleared Transactions||-| |Add Back Petty Cash Movement||7.10| |Add Back Treasurer's Cash Movement||| |Add Back Movement on Savings = Interest & Transfers||7,069.51| |**Closing Balance (Calculated)**||**43,380.73**| |**Actual Closing Balance (31-Aug-23)**||**43,380.73**| |**Balance Variance**(should be zero)||**-**| Independent examlner's report tothe trLtstee5 of Kllnsea Pre-school I rÈport to the trustees on rny examination of the accounts of Kiln5ea Pre-school for the year ended 31 August 2023. Responslbllities and basis of report A5 the charity trustees of Kiln5ea Pre-school you are responsible f()r the preparation of the accounts in accordance with the requiremÈnt5 of the Ch8riknÈs Art 20111'the Act'l. I report in respÈct of my exaTninatton 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 rhe Charity Commission under settion 14515llbl of the Att. IndependÈnt examlner's statement I have completed my examination. I confi'rm th8t no material matter5 have corne to Eny attention in connectton with the examination giving me cause to believe that in any material respÈtt.' l. accountin8 records were not kept in respect of the Trust as required by section 130 of the Act,. or 2. the accounts do not accord with th05e records. I have no concerns and have come across no other matters in conne¢bon with the examination to which attention should be drawn in thls report in order to enable a proper understanding of the accounts to be reached. Signed.. Name.. Date.. É J Aoi4-. Relevant professional qualification or rnembership of professional bodie5 lif any).. FLLA ( ol )