EC Papers September 2017

QUORN GRANGE NURSERY

REVIEW OF ACCOUNTS AS AT Aug 31, 2017

Accounts Review- Nursery

QUORN GRANGE DAY NURSERY SUMMARY

Aug-17 Nursery

YTD Aug 17

YTD July 17

Nursery

Nursery

£

£

£

Net Profit/(loss)

7,682

(12,499)

(20,181)

Adjust for Expenses not budgeted: Gift Aid GFTU

4,000 1,800

32,000 14,400 33,901 17,961

28,000 12,600 20,532 13,642

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

13,482

4,319

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

NURSERY SALES 2014-2017

January

February

March

April

May

June

July

Aug

2014

20,002

21,241

20,458

21,173

21,382

21,979

15,960

16,218

2015

21,255

22,944

22,346

22,193

21,277

33,354

27,332

22,365

2016

15,481

18,558

18,760

24,411

24,635

24,159

18,466

18,842

2017

20,624

20,621

20,618

22,900

25,463

25,395

26,235

29,815

 Turnover & Gross Profit Nursery Fee income is continually improving in Aug 17. The total turnover for the Nursery £6.5k higher than budget for Aug 17 and £10.9k year to date.

The Nursery recorded a Net Profit of £7,682 for Aug 17 and (£12.5k) 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 1k lower than budget for Aug 17 this is due to the payment received back from Lucy Harvard who left and got paid in error.  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.