Registered Charity number 900441 

## **Cholsey Preschool Treasurer’s Report for Financial Year 2022-2023** 

## _**N.B.  Cholsey Preschool amended its year-end from 31[st] March to 31[st] August to align with the UK academic year from 1[st] April 2020 until 31[st] August 2021.**_ 

Our main income is through government funding via Oxfordshire County Council (OCC).  Secondary income comes from parent fees for extra sessions, breakfast and lunch clubs. We have introduced After School Club in 2023-24 so this should increase parent fees for next year. We received £112,050 from OCC and £30,795 from parent fees this year which is an increase of £17,626 but a decrease of £12,659 respectively compared to last year.  We have also increased our two-year-old intake of both funded and unfunded children.  This year, we continued to use the Baby’s Days and Quick Books systems to aid the preparation of parent invoices, accounts and tracking of expenditures respectively. The committee will look into whether these systems are still fit for purpose and decide if we will continue to use both of these systems in future. 

Fundraising has once again formed an important element of the Preschool Committee’s efforts.  ‘Your School Lottery,’ CHOKO, and the Coronation BBQ were our most successful events raising between £600-£1,000 per event for Preschool and we were able to avail of a fairly healthy amount of matchfunding against some of our larger fundraising events via a few of the Preschool parents’ employers. The Preschool Lottery has improved from the previous year (£1,031 raised as opposed to £993) so we will continue to advertise it more widely as it is the easiest way for people to support Preschool when they cannot offer their time at events. 

The Preschool Holiday Club, which ran during the same week as CHIPS, was very popular once again, leading to us taking an increase of 24% more in fees than last year.  The various fundraising initiatives, including the Holiday Club, led to our total fundraising for the 2022-23 financial year of £6,657. This, unfortunately, is a decrease of almost 24% (£2,104).  This is mainly attributed to fewer fundraising activities taking place during the year. 

Our main expenditure continues to be staff salaries and premises costs, both of which are currently covered by OCC and parent fees.  We were able to obtain £500 from grants covering apprenticeships and we know this will increase in the next year. 

Our closing available funds at the end of the financial year were £90,750.  We made a surplus this year of £13,135 which is less than last year and can be attributed to higher salary costs and the lack of fundraising funds & less grant income than in the previous year. 

To save the Preschool bank fees, we have continued to be an almost entirely cashless setting by encouraging parents to pay for fees and other expenses via bank transfer or Childcare vouchers / Taxfree childcare, especially because our bank branch has closed down so depositing cash has become difficult and costly. 



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 into organising and running events and stalls.  The Committee has seen what an impact fundraising has on our available funds, and they have some great fundraising events planned for this next year so keep an eye out for further details as they appear. 



## Management Report 

Cholsey Preschool For the period ended 31 August 2023 

Prepared on 28 September 2023 

For management use only 



## **Table of Contents** 

Financial Activities...........................................................................................................................................3 Balance Sheet .................................................................................................................................................6 Statement of Cash Flows ................................................................................................................................7 

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## **Financial Activities** 

September 2022 - August 2023 

|**Financial Activities**<br>September 2022 - August 2023|||
|---|---|---|
|||**Total**|
||**Sep 2022 - Aug 2023**|**Sep 2021 - Aug 2022(PP)**|
|INCOME|||
|Donations and legacies|169.47|635.39|
|Fundraising|206.86|1,668.23|
|Amazon Smile|72.22|63.22|
|CHOKO Fundraising income|1,000.00|1,000.00|
|Christmas Cards||70.00|
|Easy Fundraising|68.46|70.52|
|Eco Balloon Race||85.69|
|Events||167.40|
|Fundraising - Coronation|911.76||
|Fundraising - Raffle|184.00|298.79|
|Lottery|1,031.20|993.50|
|Match Funding|352.00|387.40|
|May Day BBQ||964.91|
|PayPal Fundraising||110.63|
|Santa's Sleigh||600.00|
|**Total Fundraising**|**3,826.50**|**6,480.29**|
|Grant Income|6,841.18|10,796.41|
|Apprenticeship payment|500.00|4,500.00|
|Rugbytots Grant|1,000.00||
|TrainingSupport Grant||3,200.00|
|**Total Grant Income**|**8,341.18**|**18,496.41**|
|Holiday Club|2,840.00|2,280.00|
|Holiday Club refund|-10.00||
|Interest Earned|305.89|7.08|
|OCC Fees|112,049.52|94,423.87|
|OCC funding - EYPP holiday food vouchers|240.00|525.00|
|Parent Fees|30,795.47|43,454.60|
|Registration Fee|440.00|560.00|
|Sales|250.54||
|Uniform Sales||38.71|
|**Total Income**|**159,248.57**|**166,901.35**|
|COST OF SALES|||
|Direct Wages|121,642.96|104,195.90|
|SMP Reimbursed||-469.59|
|**Total Direct Wages**|**121,642.96**|**103,726.31**|
|EYPP holiday food vouchers|90.00|190.00|
|Fundraising Costs|11.89|568.67|
|Choko expenses|20.09|64.31|
|Uniform Costs|140.01|402.59|
|**Total Fundraising Costs**|**171.99**|**1,035.57**|



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|||**Total**|
|---|---|---|
||**Sep 2022 - Aug 2023**|**Sep 2021 - Aug 2022(PP)**|
|School Dinner Costs||47.10|
|**Total Cost of Sales**|**121,904.95**|**104,998.98**|
|TOTAL|**37,343.62**|**61,902.37**|
|EXPENDITURES|||
|Accountancy|699.60|508.00|
|Advertising/Promotional||57.37|
|Allotment/Garden Expenditure|325.17|2,375.83|
|Bank Charges|79.55|87.10|
|Charitable Donations|20.00|25.00|
|Cleaning|154.39|455.70|
|Committee Leaving Gift||55.00|
|Computer Costs||168.00|
|Dawn Donation|1,000.00||
|Educational Supplies|4,151.93|2,781.90|
|Employers NI|237.10|670.15|
|Equipment Expensed|301.03|2,304.43|
|Health & Safety||52.52|
|Heat and Light||616.60|
|Insurances|1,049.74|951.33|
|Legal and Professional|7.00|103.29|
|Music Licence|118.39|108.43|
|Office/General Administrative Expenses|49.09|351.23|
|Pensions|1,424.12|1,226.73|
|Phone Costs|151.16|132.46|
|Preschool Lease Legal costs||1,249.75|
|Printing, Postage and Stationery|673.95|2.85|
|Rent|5,909.04|4,162.16|
|Repairs and Maintenance|364.45|112.07|
|Software|169.69|223.08|
|Staff Training and Welfare||139.45|
|Staff  Gifts|27.75|107.07|
|Staff Christmas Meal|254.66|128.70|
|**Total Staff Training and Welfare**|**282.41**|**375.22**|
|Subscriptions|784.22|168.00|
|Sum Up Fees||2.80|
|Utilities|1,479.84||
|Website hosting|78.00|84.00|
|**Total Expenditures**|**19,509.87**|**19,411.00**|
|NET OPERATING INCOME|**17,833.75**|**42,491.37**|
|OTHER INCOME|||
|Have A Go Day|150.00||
|**Total Other Income**|**150.00**|**0.00**|
|OTHER EXPENDITURES|||



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|||**Total**|
|---|---|---|
||**Sep 2022 - Aug 2023**|**Sep 2021 - Aug 2022(PP)**|
|Depreciation|2,276.23|811.49|
|Food delivery|2,246.29|281.86|
|Food delivery refund|-45.25||
|Fundraising - May Day|268.06||
|Tesco deliveryfee|103.87|23.97|
|**Total Other Expenditures**|**4,849.20**|**1,117.32**|
|NET OTHER INCOME|**-4,699.20**|**-1,117.32**|
|NET INCOME/(EXPENDITURE)|**£13,134.55**|**£41,374.05**|



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## **Balance Sheet** 

As of August 31, 2023 

|**Balance Sheet**<br>As of August 31, 2023|||
|---|---|---|
|||**Total**|
||**As of Aug 31, 2023**|**As of Aug 31, 2022(PP)**|
|FIXED ASSET|||
|**Tangible assets**|||
|Fixtures and fittings accum depn|-811.49||
|Fixtures and Fittings Additions|3,559.88|7,411.27|
|Fixtures and fittings cost b/f|7,411.27||
|Fixtures and Fittings Depreciation|-2,194.23|-811.49|
|Office Equipment Additions|409.99||
|Office equipment depn charge inyear|-82.00||
|**Total Tangible assets**|**8,293.42**|**6,599.78**|
|**Total Fixed Asset**|**8,293.42**|**6,599.78**|
|CASH AT BANK AND IN HAND|||
|Current Account (0988)|25,064.26|43,702.07|
|Petty Cash|153.13|153.13|
|Savings(6671)|60,308.91|60,003.02|
|**Total Cash at bank and in hand**|**85,526.30**|**103,858.22**|
|DEBTORS|||
|Debtors|0.00|5,100.04|
|**Total Debtors**|**0.00**|**5,100.04**|
|NET CURRENT ASSETS|**85,526.30**|**108,958.26**|
|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||
|**Trade Creditors**|||
|Creditors|0.00|141.07|
|**Total Trade Creditors**|**0.00**|**141.07**|
|**Current Liabilities**|||
|Accruals|307.20|160.00|
|Deferred Income|0.00|35,728.59|
|Payroll liabilities|||
|HMRC|2,571.65|1,599.83|
|**Total Payroll liabilities**|**2,571.65**|**1,599.83**|
|Pension Payable|190.60|312.83|
|**Total Current Liabilities**|**3,069.45**|**37,801.25**|
|**Total Creditors: amounts falling due within oneyear**|**3,069.45**|**37,942.32**|
|NET CURRENT ASSETS(LIABILITIES)|**82,456.85**|**71,015.94**|
|TOTAL ASSETS LESS CURRENT LIABILITIES|**90,750.27**|**77,615.72**|
|TOTAL NET ASSETS (LIABILITIES)|**£90,750.27**|**£77,615.72**|
|CHARITY FUNDS|||
|Retained Earnings|77,615.72|36,241.67|
|Surplus/(Deficit)|13,134.55|41,374.05|
|**Total Charity funds**|**£90,750.27**|**£77,615.72**|



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## **Statement of Cash Flows** 

September 2022 - August 2023 

|**Statement of Cash Flows**<br>September 2022 - August 2023||
|---|---|
||**Total**|
|OPERATING ACTIVITIES||
|Net Income|13,134.55|
|Adjustments to reconcile Net Income to Net Cash provided by operations:||
|Debtors|5,100.04|
|Fixtures and Fittings Depreciation|1,382.74|
|Creditors|-141.07|
|Accruals|147.20|
|Deferred Income|-35,728.59|
|Payroll liabilities:HMRC|971.82|
|Pension Payable|-122.23|
|**Total Adjustments to reconcile Net Income to Net Cashprovided by operations:**|**-28,390.09**|
|**Net cashprovided by operating activities**|**-15,255.54**|
|INVESTING ACTIVITIES||
|Fixtures and fittings accum depn|811.49|
|Fixtures and Fittings Additions|3,851.39|
|Fixtures and fittings cost b/f|-7,411.27|
|Office Equipment Additions|-409.99|
|Office equipment depn charge inyear|82.00|
|**Net cashprovided by investing activities**|**-3,076.38**|
|NET CASH INCREASE FOR PERIOD|**-18,331.92**|
|Cash at beginningofperiod|103,858.22|
|CASH AT END OF PERIOD|**£85,526.30**|



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We have never been audited before, hence we do not have an auditor’s / examiner’s report