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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## **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|
|---|---|---|---|---|---|---|
|||||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|
|---|---|---|---|---|
|||||
97,832|
|||||4,647
190
77,345
-|
|||||
82,182|
|||||1,710
121
9,998
-
1,810|
|||||
13,639|
|||||
229|
|||||2,615
120
606|
|||||3,341|
|||||89
166
26
1,143
2,873
48
-|
||||||
|||||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|
|---|---|---|---|---|
||||||
||||||
|||||592|
|||||207
86|
|||||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**
- A new shed facility and accompanying storage boxes to allow Preschool to become COVIDfriendly and transform the learning space and opportunities.
- 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.
- Hygge Training for all Preschool staff.
- 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**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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## **Cholsey Pre-School**
**----- Start of picture text -----**
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
**----- End of picture text -----**
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