EC PAPERS NOVEMBER 2017

QUORN GRANGE NURSERY

REVIEW OF ACCOUNTS AS AT Oct 31, 2017

Accounts Review- Nursery

QUORN GRANGE DAY NURSERY SUMMARY

Oct-17

YTD Oct 17

YTD Sep 17

Nursery

Nursery

Nursery

£

£

£

Net Profit/(loss)

(486)

(15,682)

(15,196)

Adjust for Expenses not budgeted: Gift Aid GFTU

4,000 1,800 5,314

40,000 18,000 42,318 18,375

36,000 16,200 36,948 17,977

GFTU Salary Contribution Trading Profit/(Loss) Budgeted Profit/(loss)

398

The Nursery sales for January through to Oct 17 in comparison to 2014-2017 can be summarised as follows:

NURSERY SALES 2014-2017 January

Sep

Oct

February

March

April

May

June

July

Aug

21,667

21,715

2014

20,002

21,241

20,458

21,173

21,382

21,979

15,960

16,218

20,411

20,955

2015

21,255

22,944

22,346

22,193

21,277

33,354

27,332

22,365

12,731

14,281

2016

15,481

18,558

18,760

24,411

24,635

24,159

18,466

18,842

22,070

23,189

2017

20,624

20,621

20,618

22,900

25,463

25,395

26,235

29,815

 Turnover & Gross Profit Nursery Fee income is 2.8k higher than budget for Oct 17.

The Nursery recorded a Net loss of (£486) for Oct 17 and (£15.7k) loss YTD

The nursery results year to date are fairly consistent with the budget. Key points to note are as follows:

 Wages & Salaries Wages & Salaries are 0.4k higher than budget for Oct 17  GFTU Salary Contribution Nursery has been charged £1,800 per month. There was no budget for this charge.  Software Subscription . This is a monthly charge for New Nursery management system (£108 per month)  Donation Nursery pays 4k to GFTU as a gift aid per month This charge was not taken into account in budget calculation.