AGM FINANCE REPORT 2020/21
Bank/Cash Total £ 66,769.49 Balance
Current Account - Breakdown
£ 25,449.82 Operating funds £ 35,000.00 Reserve (Contingency) Fund £ 853.49 EYPP £ 1,681.15 Fundraising £ 646.00 Grants £ 2,900.00 Thrift club Paid out in October Petty Cash £ 204.03 Float £ 35.00
Summary
A Year end profit of £10,947 . The pandemic continued to contribute to our low occupancy resulting in a decrease in income. To help market the setting, a stay and play session for babies and toddlers has been reintroduced and we hope this will help boost our occupancy for the new academic year and market the setting. Expenditure is predominately payroll at 81.5% of our costs.
Income
Funding & Fees
The majority of our income is received from Gloucestershire County Council. This year totalled 124k - 7% decrease from previous year. Our non funded (children's fees) income totalled 8.5k - 38% decrease from previous year.
The government closed schools in January 2021 and although, early years could remain open, many families decided not to send their children during the closure period or reduced their sessions. Initially we were informed we could not claim for any funding for unattended session but, this decision was retracted by government. We were not able to charge for non funded hours not accessed during the school closure period or any absense due to isolating or the setting closures.
A one off funding payment was received in February, in respect of local authority budgeted, funding underspend - 1.2k
EYPP
EYPP is received termly from Gloucestershire County Council, for children from low income familes. The money received from EYPP is allocated to children in receipt of this funding, based on their individual needs. This year EYPP funding was spent as follows;
Intervention, Story sacks, nature area resources, training (Cultural capital & New EYFS, Home corners for Penguins and squirrels room, new nappy changing station & 2 Ipads.
Marketing
With the government easing restrictions for group face-to-face gatherings, a baby and toddler stay and play session was re-introduced in April , with the hope that the session will promote the setting and help boost ocupancy.
Fundraising
Unfortunately, due to limitations and concerns with covid no events were organsied during this financial year.
CH signed up for the Forest Lottery which is bring in on average £53 per month.
Kate's Reindeer Run £ 317.00 Photo Commission £ 139.00 Grants & Donations Parent Donations £ 149.00 Together We Can £ 135.00 Inner Wheel £ 200.00 Flooring Shoe & Spike's Circuit Purchased gym set - This has been c/f to 21/22 as we have not yet receieved the invoice Training £ 500.00 from Cosy.
AGM FINANCE REPORT 2020/21
Expenditure
Payroll 19% decrease from last year.
National Living and Minimum wage increased in April 2019 by 2% for 25 years and older
MR (Manager) left in May 2021
RA left at the end of the acedemic year (July)
The funding claim to reclaim CH SMP was outstanding at the end of 19/20 - This was received in September 2020
Expenditure
Budgets were well managed during the financial year. Cost centres reported minimal inflation rises, as budgeted.
With a profit forecast at year end, money was allocated to redecorate and refurbish the rooms. The staff all voluntary worked over the holidays to revamp the outdoor area and rooms - Massive thankyou to everyone for all your hard work.
A new management system (Blossom) was introduced in April however, the decision was made to terminate this as the new management were finding it difficult to find the time to train on the system and with 21/22 occupancy low and forecasting a loss, felt the system was an area to cut back on costs. The contract was cancelled in May with a 3 month notice period which ended in August.
| Charity name: | Coalway Early Years | Charity number: 900365 |
|
| Receipts and payments accounts for the period Period start date1st September 2020 |
Period end date31st August 2021 | ||
| RECEIPTS | Previous year £p |
Current year £p |
|
| Nursery Education Funding (Free for 3&4) Nursery Education Funding (New for 2) Children's fees EYPP Toddlers GRANTS: B/F 17/18 Tesco Fundraising Donations - Inner Wheel Donations - Parent Donations Donation - Together we Can Interest EYTS Other receipts Sub total Income from the sale of equipment |
£853.49 c/f 2021/22 (EYPP) £646 c/f 2021/22 (Grants) £1,481.15 c/f 2021/22 (fundraising) £200 C/F 2021/22 (Fundraising) |
107,273.07 26,457.87 13,708.61 1,570.02 111.15 2,496.36 3.99 4,477.80 156,098.87 - £156,098.87 |
104,135.09 |
| 20,316.38 | |||
| 8,548.83 | |||
| 4,625.41 | |||
| 0.00 | |||
| 520.00 | |||
| 88.04 | |||
| 149.12 | |||
| 135.00 | |||
| 1,833.93 | |||
| 140,351.80 | |||
| - | |||
| TOTAL RECEIPTS | (A) | £140,351.80 | |
| PAYMENTS | Current year £p |
Current year £p |
|
| Employment costs (gross pay + employer's NIC + Pensions) Training costs Grant Expenditure Premises (rent, heat etc) inc cleaning Subscriptions Insurance Administration Refreshments Consumables (paint, paper etc) Room Toys /Equipment & Furnishings Fundraising costs Other Expenditure: EYPP Toddler Misc Sub total Purchases of of equipment and other assets |
£2,900 Thrift c/f 2021/22 | 129,848.26 405.50 0.00 7,601.97 800.32 1,115.56 1,506.68 364.15 1,911.11 869.63 2,496.36 1,570.02 0.00 588.58 149,078.14 £149,078.14 ~~-~~ |
105,429.11 |
| 350.94 | |||
| 520.00 | |||
| 8,735.55 | |||
| 807.15 | |||
| 1,263.43 | |||
| 2,521.28 | |||
| 319.13 | |||
| 2,003.59 | |||
| 1,402.48 | |||
| 372.16 | |||
| 4,625.41 | |||
| 1,054.42 | |||
| 129,404.65 | |||
| TOTAL PAYMENTS | (B) | £129,404.65 | |
| ~~-~~ | |||
| NET OF RECEIPTS AND PAYMENTS | (A-B=C) | £7,020.73 | £10,947.15 |
| Cash fundsincl. deposit a/clastyear end Cash fundsincl. deposit a/cthis**year end |
(D) (C+D) |
42,720.97 £49,741.70 |
49,741.70 |
| £60,688.85 | |||
| STATEMENT OF ASSETS AND LIABILITIES | |||
| Bank Balance - Current Account Petty Cash/Float Thrift club - Paid out October C/F 2021/22 Fundraising C/F 2021/22 EYPP C/F 2021/22 Grants C/F 2021/22 |
Current value | ||
| £66,530.46 | |||
| £239.03 | |||
| £66,769.49 | |||
| 2,900.00 -£ |
|||
| 1,681.15 -£ |
|||
| 853.49 -£ |
|||
| 646.00 -£ |
|||
| £60,688.85 |
Signed for the committee ……………………..……………. Role…………………….................... Date………………………………..
CHARITY COMMISSION FOR ENGLANO AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trustee members of On accounts for the year ended £., 20'L I Charity no Irf any) Set out on pages I report to the trustees on my examinalion of the accounts of the above charity ltthe Trust") for the year ended Responstbilftles and As the charity trustees. you are responsible for the preparation of the basss of report accounts in accordance wth the Charities Act 2011 {"the Act"). I report in SpeCt of my examination of the Trust's acwunts carried out under seclion 145 of the 2011 Act and in ¢afrying Out my examinalion. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the ACL Independent he charity's gross income eX(led £250,000 and l am qualifi8J to examinews statement undertake the examination by being a qualffied member of linsert name of applicable listed bodyll. Delete [ l rfnot applicable. I have completed my examination. I confiTh that no material matters have Come to my attention (other than that disclosed below ") in connection with the examinatFon which gives me cause to believe that in, any material respect,: the aOUnting records Ire not kept in accordance section 130 of the Ad.. or the accounts did not accord with the aCUnting records., or the accounts did not compty the applicable requirements conceming the fomi and content of accounts set out in the Charities (Accounts and Reports) Regutations 2008 other than any rtrement that the accounts gNe a 'true and fairf view which is not a matter considered as part of an independenl examination. I have no COnmS and have come across no other matters in connection the examination to which attention should be drawn in this report in order to enable a proper understandiry of the accounts to be reached. "p ete Ihe wonls the brackets rfthey (*) not apply. Signed: Name: Lict Relevant professlonal qualifi¢ation(s) or body lif any): IER October 2018
Address: 1rd Section 8 Disclosure Only complete if the exaffliner needs lo highlight matters of concern (see CC32. Independent examination of charity aceounts" directtons and guidance for examiners). Give here details of any ilems that the examiner wishes to disclose. IER October 2018