EC Meeting Papers January 2018

QUORN GRANGE NURSERY

REVIEW OF ACCOUNTS AS AT Nov 30, 2017

Accounts Review- Nursery

QUORN GRANGE DAY NURSERY SUMMARY

Nov-17 Nursery

YTD Nov 17

YTD Oct 17

Nursery

Nursery

£

£

£

Net Profit/(loss)

(10,626)

(26,308)

(15,682)

Adjust for Expenses not budgeted: Gift Aid GFTU

4,000 1,800

44,000 19,800 37,492 20,000

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

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

(4,826)

1,625

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

NURSERY SALES 2014-2017 January

Sep

Oct

Nov

February

March

April

May

June

July

Aug

21,667

21,715

21,955

2014

20,002

21,241

20,458

21,173

21,382

21,979

15,960

16,218

20,411

20,955

20,477

2015

21,255

22,944

22,346

22,193

21,277

33,354

27,332

22,365

12,731

14,281

15,866

2016

15,481

18,558

18,760

24,411

24,635

24,159

18,466

18,842

22,070

23,189

15,030

2017

20,624

20,621

20,618

22,900

25,463

25,395

26,235

29,815

 Turnover & Gross Profit Nursery Fee income is 7k lower than budget for Nov 17.

The Nursery recorded a Net loss of (£10,626) for Nov 17 and (£26.3k) 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 0.5k higher than budget for Nov 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.