2020-07-31-accounts

The Old Lace Mill, www.earlyyearsplaygroup.co.uk 44 Frederick Road, Charity No: 700962 Stapleford, OFSTED No: EY 450856 Nottingham, NG9 8FN Tel: [phone]

Meeting

Held at Early Years Playgroup on 17[th] November 2020

Attending

Committee

Jo Lindley (Chair) Kate Judge (Vice Chair) Gareth Fisher (Treasurer) Fay Harding (Secretary) Kate Sermon Sarah Turnbull Leighann McCullough (Parent) Karen Morley (Manager)

Parents attending; Tania Allaway (Callum) Emma Steel (Savannah) Liam and Michala Bodycote (Keira) Cristina and ? Caceres (Tob??) Emma (Zachary)

Staff

No staff in attendance

Apologies

Minutes

Minutes
Agenda Item	Notes	Actions
Committee Welcome	Committee members arrived at 19:00, introductions. Minutes read and agreed by committee members. Intro to charity commission and committee for parents.
Apologies	No Apologies
Voting Members On/Off Committee	Chair – JL; proposed FH by seconded by ST Vice Chair – KJ ; proposed JL seconded by FH Treasurer – GF; proposed by FH seconded by KJ Secretary – FH; proposed by JL seconded by GF Parent Members ; Leighann McCollough proposed by FH seconded by KM

The Old Lace Mill, 44 Frederick Road, Stapleford, Nottingham, NG9 8FN	www.earlyyearsplaygroup.co.uk Charity No: 700962 OFSTED No: EY 450856 Tel: [phone]
	Mechaela Dickman propose seconded by KJ	KM to go through the paperwork.
Chair’s Report	Unusual year - Thanks to the team of staff in particular to Karen who have enabled us to keep runningas best we can at this difficult time.
Treasurer’s Report	Over the course of 08.2019/Jul2020 24,210.01 difference in what we held in the bank and cash year on year. £144, 000 in the bank. Report to follow. COVID-19 has had an impact on those numbers we have had 10,000 government Council has paid for the funded places that we have had and we are unable to cover this out of furlough but have had to pay staff who have been on furlough. Landlord has helped out by reducing the rent which has been helped. Year on year income is the same if you take out what we have been given we are at a loss which isn’t unusual during this difficult time. No reason why cannot operate normally. Gave a rationale for why we have a large amount in the bank due to lease and
Manager’s Report	Autumn 2019; holiday clubs open but only sustainable as had attendance September numbers were lower as is normal but built up over the year. Nativity and fundraising last Christmas. Spring Jan-March, few new starters. Decided as a committee that we would do some work on the building; had the flooring laid in the outdoor area. Staff team and volunteers from committee and painted. Closed doors on 23rdMarch – Staff furloughed, LA money for children paid staff furlough. Kept contact via Facebook and email and put on daily stories and activities to keep in touch with children. Risk assessments and discussions once we were able to open. Th Fri 9-3, 16 children came back – children were pleased to be back and we attempted to make this as normal as possible. Attempted a leavers service outside. Tapestry printed and links sent. Certificate.

The Old Lace Mill, 44 Frederick Road, Stapleford, Nottingham, NG9 8FN	www.earlyyearsplaygroup.co.uk Charity No: 700962 OFSTED No: EY 450856 Tel: [phone]
	Speech and language therapists, safeguarding teams, early years specialists. September, numbers are low on some days and children are happy Will not be doing normal nativity but we will be doing nativity songs to upload to tapestry or via email. Christmas Party18thDecember.
Staff Report
Fundraising/ MarketingReport
AnyOther Business
Date of Next Meeting	Wednesday 2ndDecember

The Old Lace Mill, www.earlyyearsplaygroup.co.uk 44 Frederick Road, Charity No: 700962 Stapleford, OFSTED No: EY 450856 Nottingham, NG9 8FN Tel: [phone]

2019/20 Finance Report

Over the course of August 2019 to July 2020 there has been an increase in the reserves of the playschool of £24,210.01 being the difference of what we held at the bank and in cash less unpaid costs year on year (£144,425.28 less £120,081.84).

This year income has risen 2% year on year by £1,879.68 and expenditure has increased 11% year on year by £9,325.34.

Payroll costs have risen by 14.7% circa £7.8k.

The outside area improvement costs have been a significant cost of £8,938.80.

Covid-19 Impact

The main financial impacts of Covid-19 have been:

Within income we have received a £10,000 government grant and the council funded places have been paid by the council during the shutdown in order to cover staff furlough costs. This kept income in line with the prior year when in reality it had fallen as the playschool has been shut.

The Old Lace Mill, www.earlyyearsplaygroup.co.uk 44 Frederick Road, Charity No: 700962 Stapleford, OFSTED No: EY 450856 Nottingham, NG9 8FN Tel: [phone]

In terms of costs the furlough scheme only enabled the recovery payroll costs against the selffunded places and so the payroll costs appear high when in reality an element of the revenue has “covered” the cost of furlough pay.

The Landlord also kindly reduced the rent during shut down off setting Coiv-19 impact.

Future issues

We have met to review our costs and fees which we need to continue to do.

I can see no reason why the costs or revenues should change drastically in the following year other than for the know rent and payroll cost increases e.g. the National Living / Minimum Wage and Pension enrolment.

Gareth Fisher – Treasurer

17[th] November 2020