Cholsey Pre-school Accounts 31 March 2020
Cholsey Pre-School
Approval statement
I approve the accounts which comprise of the Profit and Loss Account, the Balance Sheet and the related notes. I acknowledge my responsibility for the accounts, including the appropriateness of the applicable financial reporting framework as set out in note 1, and for providing Trenans Accountancy Ltd. with all information and explanations necessary for their compilation.
Caroline Russell (Treasurer)
8 October 2020
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Cholsey Pre-School
Accountants' report on the unaudited accounts to Cholsey Pre-School
You have approved the accounts for the year ended 31 March 2020 which comprise the Profit and Loss Account, the Balance Sheet and the related notes. In accordance with your instructions, we have compiled these unaudited accounts from the accounting records and information and explanations supplied to us.
Trenans Accountancy Ltd. Accountants
Thames Wing Howbery Park Crowmarsh Oxon OX10 8BA
8 October 2020
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Cholsey Pre-School Profit and Loss Account for the year ended 31 March 2020
| Sales Cost of sales Gross profit Expenses Wages, salaries and other staff costs Car, van and travel expenses Rent, rates, power and insurance costs Repairs and renewals of property and equipment Telephone, fax, stationery and other office costs Advertising and business entertainment costs Bank, credit card and other finance charges Accountancy, legal and other professional fees Other business expenses Loss |
2020 £ 105,725 98,540 7,185 4,133 - 3,332 - 2,848 32 186 1,549 1,120 13,200 (6,015) |
2019 £ 97,832 82,182 15,650 13,639 229 3,341 89 4,256 50 207 592 293 22,696 (7,046) |
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|---|---|---|---|---|
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Cholsey Pre-School Balance Sheet as at 31 March 2020
| Notes Current assets Stock and work in progress Bank/building society balances Cash in hand Current liabilities Trade creditors Other liabilities and accruals Net current assets Net assets Capital account Balance at start of period Net loss |
494 51,416 221 52,131 46 3,958 4,004 |
2020 £ 48,127 48,127 54,142 (6,015) 48,127 |
470 57,725 844 |
2019 £ 54,142 |
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|---|---|---|---|---|---|---|
| 59,039 | ||||||
1,624 3,273 |
||||||
| 4,897 | ||||||
| 54,142 61,188 (7,046) 54,142 |
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Cholsey Pre-School
1 Accounting basis
The accounts have been compiled on a basis that enables profits to be calculated in accordance with UK Generally Accepted Accounting Practice and that provides sufficient and relevant information to enable the completion of a tax return.
2 Profit and loss account analysis
| Sales Fees Fundraising Donation Cost of sales Purchases (Increase)/decrease in stocks Direct labour Other direct costs Wages, salaries and other staff costs Pensions Bonuses Employer's NI Temporary staff and recruitment Staff training and welfare Car, van and travel expenses Travel and subsistence Rent, rates, power and insurance costs Rent Service charges Cleaning Repairs and renewals of property and equipment Repairs and maintenance Telephone, fax, stationery and other office costs Telephone and fax Postage Stationery and printing Equipment expensed Software Other insurance costs |
2020 £ 97,285 6,247 2,193 105,725 3,794 (24) 94,642 128 98,540 1,216 - 751 165 2,001 4,133 - 2,539 120 673 3,332 - 84 - 615 1,319 120 710 2,848 |
2019 £ 91,455 6,143 234 |
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|---|---|---|---|---|
97,832 |
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| 4,647 190 77,345 - |
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82,182 |
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| 1,710 121 9,998 - 1,810 |
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13,639 |
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229 |
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| 2,615 120 606 |
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| 3,341 | ||||
| 89 166 26 1,143 2,873 48 - |
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| 4,256 |
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Cholsey Pre-School
| Advertising and business entertainment costs Advertising and PR Bank, credit card and other finance charges Bank charges Accountancy, legal and other professional fees Accountants fees Other legal and professional Other business expenses Subscriptions Other expenses |
32 186 674 875 1,549 365 755 1,120 |
50 207 577 15 |
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|---|---|---|---|---|
| 592 | ||||
| 207 86 |
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| 293 |
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Cholsey Pre-School
Registered Charity number 900441
Cholsey Pre-School Treasurer’s Report for Financial Year 2019-20
Our main income is through government funding via Oxfordshire County Council (OCC). Secondary income comes from parent fees for extra sessions and lunch club. We received £74,315 from OCC this year which is an increase of £2,213 compared to last year. This year, we have continued our stance of reduced tolerance for parents who fail to pay their fees unless they have communicated with us and a payment plan has been put in place. I am pleased to report that for the forthcoming academic year, due to a reduced number of children attending Preschool (mainly due to COVID restrictions) we have been able to bring forward our ability to fund children for up to 30 hours rather than just the 15 hours that we have done historically. [Eligible parents need to ensure that they have requested their 30 hour funding code before the cut off points at the end of each term, e.g. 31[st] December 2020 is the next one for funding to be available in the Spring Term. Unfortunately if the code is obtained later than the three stipulated dates, parents will have to wait until the following term for the funding code to apply.] We have also increased our two year old intake this term of both funded and unfunded children.
Fundraising has once again formed an important element of the Preschool Committee’s efforts. ‘Your School Lottery’ continues to raise much needed funds (£1,555) for Preschool and we were able to avail of £1,400 of match-funding against some of our larger events via a few of the Preschool parents’ employers. Going forwards, if we are able to obtain match-funding, it usually requires only £350 of fundraising for an event for the companies involved to be able to match it so not necessarily the heady heights of £1k+. Our first foray into the CHOKO Beer Festival raised £1,457 for Preschool so we hope to continue this partnership in future years. The various new fundraising initiatives led to our total fundraising for 2019-20 academic year of £9,403 which is an increase of 43% (£4,064). This is a fantastic total and this was achieved despite COVID impacting heavily from March 2020 onwards.
Following a fairly lengthy process earlier this year, we submitted our proposal for the Preschool expansion as we had heard from OCC that approximately £9,000 had been ringfenced for us but we had to ‘use it or lose it’! Despite the delay to the Primary school build, we were delighted to be awarded over £16,637 in June 2020 to go towards the cost of implementing our plans when the time comes (hopefully during the Summer of 2021).
Our main expenditure is on staff salaries and premises costs both of which are currently covered by OCC and parent fees.
Our closing balance at the end of the financial year was £48,127. We made a loss this year of £6,015 due to an increase in staff costs including pensions, rent/insurance/utilities, staff training and travel expenses and the impact of Covid-19.
We were able to make some small investments in Preschool this year:
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Cholsey Pre-School
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A new shed facility and accompanying storage boxes to allow Preschool to become COVIDfriendly and transform the learning space and opportunities.
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Mini Professors sessions, which were delivered on a weekly basis by an external company, have become an important part of the Preschool calendar. This is partially funded by charging parents £5 per small term although only those parents who receive fee letters tend to pay as it is hard to chase those who do not pay any fees at all. We hope to reinstate this post-COVID as the sessions are not currently permitted to run unfortunately.
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Hygge Training for all Preschool staff.
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IKEA equipment to refurbish Preschool under the new ‘Hygge’ style of learning which led to the introduction of Elephants and Flamingos rather than Red and Green group.
Unfortunately, the impact of COVID prevented any external trips for the children this year.
We set up online payment for school lunches via Cholsey Primary School’s Parent Pay system for parents to pay for school dinners and this worked very well and shall be used again in future, postCOVID. Unfortunately due to COVID, the children have to bring packed lunches from home and cannot avail of the school dinners for the time being. In order to save the Preschool bank fees, we have become an almost entirely cashless setting by encouraging parents to pay for fees and other expenses via bank transfer or Childcare vouchers / Tax free childcare.
Our staff and committee this year have been brilliant so thank you to every single one of you for all the effort you have put in to organising and running events and stalls. Our plans for next year’s fundraising initiatives are going to be heavily impacted by COVID as we will not be able to run our Annual Reindeer Run or take part in the Santa Sleigh which makes a significant contribution to our funds so we are looking to adopt as many COVID-friendly methods of fundraising as possible to help us ride out the current ‘storm’.
– Fundraising Academic Year 2019/2020
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Event Date Amount Comments
Cake Sale 18/10/2019 £107
Bonfire Night 2019 01/11/2019 £48
Draycott Engineering 04/11/2019 £200
tokens
Reindeer Run 2019 24/11/2019 £1,039
Match Funding 05/12/2019 £1,400
CHOKO 03/12/2019 £1,457
Christmas Cards 11/11/2019 £36 £135-£99.50 costs
Book Sales 19/11/2019 £31
Cookbook Sales 27/11/2019 £187 £650 sales + £150 sponsorship - £612.17
costs
Preschool Photos 17/01/2020 £259
(Tempest)
Santa Grotto 29/11/2019 £252
Teddy Tombola 29/11/2019 £169
Pinocchio Tickets 29/11/2019 £95
Santa Sleigh 14/12/2019 £460 £920 raised - Split between Preschool &
Cholsey Day Centre
Cake Sale 07/02/2020 £113
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Cholsey Pre-School
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Music Bingo & Curry 20/03/2020 £212 At 31st March 2020 (Costs removed from
Night total - Ticket Tailor £18.24) - Donations
from parents in lieu of refunds
Preschool Mothers' Day 31/03/2020 tbc Not sent out due to Covid-19
Photos
Sponsored Walk 03/08/2020 £249
Neighbourly COVID 22/07/2020 £400
Donation
Preschool Lottery Ongoing £1,555 At 31st August 2020
Tickets & Donations
PayPal Donations Ongoing £380 At 30th August 2020
Crowdfunding Ongoing £265 At 15th July 2020
EasyFundraising Ongoing £155 At 28th May 2020
Donations
Uniform Sales Ongoing £262 At 20th July 2020
Amazon Smile Donations Ongoing £38 At 15th August 2020
MyNameTags Donations Ongoing £34
TOTAL £9,403
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