Educational Trustees Meeting Nov 2017
ET Meeting Papers
Educational Trustees Meeting
8 th November 2017
How to find us
Easily reached by either road or rail (or by air from East Midlands airport just 30 minutes away), Quorn Grange Hotel is a useful base for guests wishing to visit the attractions in the area. In addition, the cities of Leicester and Nottingham are only a short distance away.
BY ROAD From the North : Leave the M1 at junction 23 (Loughborough) following signs for the A6 south (Leicester). Shortly after leaving Loughborough, turn off the A6 dual carriageway into Quorn. Go straight through Quorn. Wood Lane is a right turn, at the far end of the village, at the third mini roundabout. Quorn Grange Hotel is about a quarter of a mile further on, on the left. From the South : Leave the M1 at junction 21a and take the A46 Leicester western bypass (Newark). Turn left from the A46 onto the A6 dual carriageway, turning left at a small roundabout signposted Quorn/Mountsorrel. At the next roundabout, turn right towards Quorn. After about one mile, turn left into Wood Lane at a mini roundabout. Quorn Grange Hotel is about a quarter of a mile further on, on the left.
BY RAIL There are Midland Mainline services from London St Pancras to Sheffield which stop at Loughborough and Leicester.
BUS
The number 2 kinchbus, 126 and 127 bus runs from Leicester bus station to Quorn. The number 2 kinchbus, 126 and 127 bus runs from Loughborough town centre to Quorn.
Number 2 bus information
Number 126 / 127 bus information
Quorn Grange Hotel 88 Wood Lane Quorn Leicestershire LE12 8DB
Tel: 01509 412167 Fax: 01509 415621
ET Management Accounts YTD Sep 17
Budget YTD Sep 17
Actual YTD Sep 17
Income source
Variance
Notes
Accounts Processing Services
- - -
Recharge for services provided- QGH
Contributions
1,100 AEP Donation 1k
Sponsorship/Commission Bank Interest Received
1,100
- -
Misc Income- intercompany recharge
-
Gift Aid-GFTU Gift Aid- Albion Gift Aid-QGH
75,000
(75,000)
-
- -
Hotel contributions to ET
36,000 36,000 45,375
36,000 32,000 64,213
(4,000) Nursery contributions to ET 18,838 All courses are held for TSSA
Gift Aid-QGH Nursery Customised Course Fees
Core Courses
-
-
Trade Union Management Programme Grant/Arts Festival/Spon'ship/Project
15,000
-
(15,000)
-
-
Poland OPZZ £4,141, Ethical Shop Commission £97, Nursery recharge DBS check £172, Stripe £1,225.77
Other Income
- -
6,730
6,730
-
Total income
207,375
140,043
(67,332)
Expenditure
Staffing Salary+ NIC+Pension
177,950
119,426
(58,525)
Redundancy & Severance
- -
-
-
Staff Welfare
50
50
Staff Travel and Subs
1,800 1,125
2,627 1,125 5,600
827
Essential Car user Allowance
-
GS Travel HOE Travel
375
5,225
3,300
-
(3,300)
Leicester Mercury Job advertise charges & Sian Moore expenses
Other employment costs- Agency
-
1,021
1,021
760 Ana & Shamil AAT course & exam fees£2,034, First Aid Training £160, Wendy training £65
Training and development
1,500 3,000
2,260
Agency
(3,000)
Pensions Recovery Payments
- -
-
Staffing total
189,050
132,108
(56,942)
Premises Rent and Rates
1,125
-
(1,125)
124 Oil Radiator & Toilet Seat
Repair and maintenance
188
312
Utilities
2,400
82
(2,318)
Health and Safety
-
-
Insurance
975
1,210
235 Includes Business Travel Insurance
Depreciation
5,400
11,509
6,109
-
-
Premises total
10,087.50
13,113
3,026
Administration Stationery, Postage Courier & delivery cost
(1,833) Postage £4,053, Stationery £2,779
8,667 1,667
6,834
(1,667)
This includes monthly charges Jan-sep 17 £5,251 & yearly maintenance contract charges £1,050 Sage Payroll cover & Online support, ACT annual subscription, Flipping page Licence, Adobe monthly fee, Recharges been done to Hotel & nursery for their propotions
Telephone & mobile
2,333
6,301
3,968
IT, website, maintainence
6,000 1,000
2,368 1,066
(3,632)
66 Konica Minolta - Monthly Meter Charge
Printing & Copying Office relocation
- -
-
Administration total
19,667
16,569
(3,098)
Management fees Trustees Expenses
2,250 6,000 1,500 7,500 1,500 1,500
1,759
(491)
Conference expenses (BGCM/EC) Conference expenses (other)/Speakers
(6,000) (1,500)
-
499 Accrual for accountancy & audit fee Jan-Sep 2017
Accountancy and audit
7,999 1,536
Legal & Profession DDA Compliance
36
(1,500)
Investment management fee Management fees total
-
-
20,250
11,294
(8,956)
Programme and Event Gift Aid Payment/Grants
3,750
-
(3,750)
London Recruits Film Project Donation £1000, Hazard Sponsorship £300 540 Journalistic Feature £300, 3 Days of Fred Wisdom's time working on the Song Book £240 162 Design of Full Colour A5 Leaflet marketing the Ethical Shop, New Statesman Feb 2017, Seminar fee for Doug (Westminster Business forum)
Affiliations, Donations, Subscriptions,
6,000
1,300
(4,700)
Communications & Campaigning
-
540
Advertising and promotion
1,875
2,037
Room hire
-
-
-
GFTU Education Course Brochures, Your Right at Work - A TUC Guide 5th Edition , Liberating Arts Festival Leaflets & Flyers, Photographic Repro - Education for Action April 17-July18, Education Leaflets
Publicity leaflets
11,250
10,204
(1,046)
Educational officers' meeting
1,875
878
(997) EC Meeting, Education Officers Interview
Tutors' meeting
938
(938)
International Study Visit
7,500
-
(7,500) (9,304)
Youth Festival History Festival
15,000
5,696
-
-
Arts & Cultural Festival
9,000 7,500 2,250
9,175
175
ESNA Visist Other events
-
(7,500)
5,168 Kurdish Festival & Liberting Art
7,418
Open College Network Panel Fees+Membership
-
-
E learning
11,250
(11,250) (5,250)
Trade Union Management Programme
5,250
Links with Universities
-
-
Finance, HR & IT Officers Meeting, New Rep Training by Doug @ QGH
Core Course -Student hotel & Travel
7,500 3,750 7,500
4,782 2,430
(2,718) (1,320) (7,235)
Core Course - Tutor Fees
Core Course - Tutor Travel & Sub
265
Northern College : GFTU Health & Safety Stage 1, GFTU Shop Stewards Stage 1 These charges have been recharged to TSSA for their courses. 15k worth of charges are expected in next month as waiting for credit card statements to be processed
Core Course- Resource, books, printing, certificates Customised Course -Student hotel & Travel
20,250
7,128
(13,122)
-
14,726
14,726
Customised Course- Tutor fees
18,000
5,640 1,656 5,130
(12,360)
Customised Course- Tutor Travel and sub
- -
1,656 5,130
Customised Course- Resource, books, printing, cert.
Bank charges Miscellaneous
150 375
66
(84)
1,279
904
-
-
Programme and Event total
140,963
80,349
(60,613)
Ground Investigation & Pilling ltd charges
New Build
23,508 276,941
Total Expenditures
380,017
(103,076)
Surplus/deficit before Capital Expenditure
(172,642)
(136,898)
35,744
GFTU ET Balance Sheet
Year to Date Sep 2017
Fixed Assets
Office Equipment
7,687 1,141
Furniture and Fixtures
Investments
2,091,532
2,100,360
Current Assets Debtors
45,967
Intercompany (Hotel, Nursery & Albion)
732,567
Bank Account
60,898
VAT
7,239
846,672
Current Liabilities Creditors Short term
32,875
Intercompany (GFTU & Pension)
1,416,611
1,449,486
Current Assets less Current Liabilities:
-602,814
Total Assets less Current Liabilities:
1,497,546
Capital & Reserves Reserve
1,634,444
P & L Account
-136,898
1,497,546 -
QUORN GRANGE HOTEL FINANCIAL OVERVIEW (Jan 17 to Dec 17)
HOTEL SALES 2014-2017
January 75,891 71,508 65,457 69,680
February
March 99,170 101,137 104,534 86,334
April
May
June
July August September
Totals
2014 2015 2016 2017
75,521 83,912 78,246 88,225
92,463 90,480 87,556 130,696
117,353 112,281 127,392 116,905 87,970 904,946 144,565 125,722 93,968 148,952 142,374 1,002,618 112,411 104,985 124,536 115,457 122,170 915,352 128,433 130,683 155,763 146,436 147,266 1,083,516
HOTEL NET PROFIT/(LOSS) PRIOR YEAR COMPARISONS 2014-17 January February March
April 6,875
May
June
July August September
Totals 70,330 67,484
2014 2015 2016 2017
(7,522) (20,621) (50,664) (51,566)
(13,452) (7,539) (27,882) (32,308)
2,999 7,896
22,940 19,123 23,347 18,510
(2,490)
(3,918) (23,395) (2,221)
37,149 18,504
(14,559)
30,546 20,027
(14,172) (25,000)
(6,470) (2,149)
(14,549) (16,489) (6,215) (3,286)
11,036
(6,698)
(149,282) (111,159)
2,066
9,519
HOTEL BUDGET v ACTUAL NET PROFIT/(LOSS) 2017 January February
March 8,465
April 3,863
May
June
July August September
Totals 4,157
2017 BUDGET 2017 ACTUAL
(22,552) (51,566) (29,014)
(14,339) (32,308) (17,969)
6,874
3,631 6,079 6,953
5,183 9,519 4,337
(25,000) (33,465)
(2,221) (6,084)
(2,149) (9,023)
(6,215) (9,846)
(3,286) (9,365)
2,066
(111,160) (115,317)
(4,887)
Variance
YTD OVERALL PRIOR YEAR ANALYSIS HOTEL NET PROFIT/(LOSS) 2014 2015 2016
2017
Hotel
70,329.70
67,484.26
(149,281.76)
(111,159.42)
Hotel Sales 2015-2017
180,000.00
160,000.00
140,000.00
120,000.00
100,000.00
2015
2016
80,000.00
2017
60,000.00
40,000.00
20,000.00
-
January
February
March
April
May
June
July
August
September
October
November
December
January
February
March
April
May
June
July
August
September 142,373.92 122,170.00 147,266.32
October
November 98,422.34 107,437.55
December 123,528.38 128,105.29
Total
2015 2016 2017
71,507.97 65,457.00 69,680.00 4,223.00
83,912.22 78,246.12 88,225.00 9,978.88
101,136.75 104,533.56 86,334.00 18,199.56
90,479.69 87,556.48 130,695.90 43,139.42
144,564.76 112,411.00 128,433.00 16,022.00
125,722.33 104,985.00 130,683.21 25,698.21
93,968.18 124,536.00 155,762.51 31,226.51
148,952.40 115,397.00 146,436.32 31,039.32
116,747.35 93,994.20
1,341,316.29 1,244,829.20 1,083,516.26 161,312.94
Variance
-
25,096.32
93,994.20 -
107,437.55 -
128,105.29 -
-
Hotel Budget V Actual Net Profit by Month January
February (32,308)
March
April
May
June
July
August
September
October
November
December
Total
2017 Actual Net Profit
(51,566)
(25,000)
(2,221)
(2,149)
(6,215)
(3,286)
2,066
9,519
0
0
0
(111,160)
2017 Budget Net Profit
(22,552)
(14,339)
8,465
3,863
6,874
3,631
6,079
6,953
5,183
3,686
(2,874)
7,099
12,069 123,229
Variance
29,014
17,969
33,465
6,084
9,023
9,846
9,365
4,887
(4,337)
3,686
(2,874)
7,099
2017 Hotel Budget vs Actual Net Profit/(Loss)
20,000
10,000
0
January
February
March
April
May
June
July
August
September
October
November
December
(10,000)
2017 Actual Net Profit
(20,000)
2017 Budget Net Profit
(30,000)
(40,000)
(50,000)
(60,000)
Budget v ACTUAL Sales
January
February
March
April
May
June
July
August
September
October
November
December
Total
2017 Budget 2017 Sales
81,373 69,680
87,894 88,225
122,601 86,334 (36,267)
121,190 130,696
133,652 128,433 (5,219)
113,444 130,683 17,239
140,385 155,763 15,378
148,043 146,436 (1,607)
143,034 147,266
118,166
104,256
117,069
1,431,107 1,083,516 (347,591)
0
0
0
Variance
(11,693)
331
9,506
4,232 (118,166)
(104,256)
(117,069)
2017 Hotel Sales vs Budget
180,000
160,000
0 0 1,083,516 (347,591)
140,000
120,000
100,000
2017 Budget
80,000
2017 Sales
60,000
40,000
20,000
0
January
February
March
April
May
June
July
August
September
October
November
December
QUORN GRANGE HOTEL
REVIEW OF ACCOUNTS AS AT Sep 30, 2017
Accounts Review- Hotel
QUORN GRANGE HOTEL SUMMARY
Sep
YTD -Sep
YTD - Aug
Hotel
Hotel
Hotel
£
£
£
Net Profit/(loss)
9,519
(111,160)
(120,679)
Adjust for Expenses not budgeted: Gift Aid GFTU
4,000
36,000
32,000
Trading Profit/(Loss) Budgeted Profit/(loss)
13,519
(75,160)
(87,539) (1,026)
5,183
4,157
The hotel occupancy for January through to September in comparison to budget and to 2016 can be summarised as follows:
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY JUN JUL AUG SEP
Available Rooms
1,178
1,064
1,178
1,126
1,178
1,140
1,178
1,178
1,140
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 68% 68% 61% 73% 59% 62% 65% 74% 70% 79% 77% 69% 82% 55% 58% 60% 65% 68% 68% 70% 74% 72% 4% 4% 5% 9% 2% 11% 7% -5% 10%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 729 771 842 707 741
767 766 788 699 833 825 900 909 809 933 801 775 825 872 821
Variance
9% 6% 9% 14% 3% 16% 10% -7% 14%
Average Room Rate 2016 Actual
61.7 61.2 61.0
62.8 65.7 62.0
65.6 62.3 58.0 55.0 66.5 60.0 63.9 63.8 61.9 63.87 63.15 65.13 63.34 66.52 65.0 66.0 66.0 66.0 66.0 66.0 70.0
2017 Actual 2017 Budget
Variance
0.2% 6% -2% -6% -3% -4% -1% -4% -5%
Turnover & Gross Profit
The total turnover for the hotel is £4.2k higher than budget for Sep 17 and (£8.1k) below year to date.
Occupancy is 10% higher the budget. The average room rate 5% lower than budget.
The Hotel recorded a Net Profit of £13.5k for Sept and (£75.2k) loss YTD after adjusting for the GFTU Gift Aid.
Hotel Costs vs Budget
The following summarises the main YTD cost variances for discussion Wages & Salaries Wages & Salaries (34.7k) higher than budget YTD. (4.3k) higher for the month of Sept 17 Cleaning & Laundry Cleaning & Laundry YTD favourable variance of £7.7k Marketing The Marketing costs are £22.2k below the budget as Tim is trying to keep all the cost under control. Garden Expenditure Garden Expenditure Costs are (£6k) higher than budget for YTD. The budget for Garden expenditure does not include Alison’s salary who left in Jan 17. New Gardeners invoices go under this code hence garden costs are likely to be higher than budget in next coming months. In September 17 garden expenditure included an unexpected cost to clear away fallen branches of cedar due to high winds Rates & Insurance Rates & Insurance costs are in line with the budget for Sept 17 Commissions Due to increase in occupancy the commissions are (£6k) higher than expected YTD Heat, Light & Power Heat Light & Power costs are £3.5k lower than the budget for Sept and £9.8k lower than budget YTD. Donation Hotel pays £4k to GFTU on monthly basis as a gift aid. There was no budget for this item. IT Expenses are overspent by (£12.8k) for YTD this is partly due to IT issues that Hotel had been facing i.e. final rewiring & cabling works, Entegraty SLA and Installation of 2 new cameras Repairs & Maintenance Repair & Maintenance overspent by (£4.2k) due to costs incurred such as fire extinguisher maintenance, pat testing and room maintenance items such as bulbs. However Kitchen Repairs & replacement underspent by £2.4k compare to YTD Telephone & Internet Telephone & internet costs are higher than budget by (£3.1k) YTD. GFTU and Nursery reimbursed Hotel for their share of BT fibre broadband bills thus £1.1k credit in the month of Sep 17. Kurdish Festival There is a credit of £6k in Sep month as ET has subsided for Kurdish festival deficit. GFTU Salary Contribution GFTU Salary contribution is in line with the budget. Professional fees Professional fees are in line with the budget for Sept 17 IT Expenses
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL (YTD)
Available Rooms
1,178
1,064
1,178
1,126
1,178
1,140
1,178
1,178
1,140
1,153
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 68% 68% 61% 73% 59% 62% 65% 74% 70% 79% 77% 69% 82% 55% 58% 60% 65% 68% 68% 70% 74% 72% 4% 4% 5% 9% 2% 11% 7% -5% 10%
63% 91% 65% 26%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 771 707
729 842 741
767 766 788 699 833 825 900 909 809 933 801 775 825 872 821
711
1048 746 40%
Variance
9% 6% 9% 14% 3% 16% 10% -7% 14%
Average Room Rate 2016 Actual
61.7 61.2 61.0
62.8 65.7 62.0
65.6 62.3
58.0 55.0 66.5 60.0 63.9
62.2 82.1 66.3 24%
2017 Actual 2017 Budget
63.8 61.9 63.87 63.15 65.13 63.34 66.52
65.0 66.0
66.0 66.0 66.0 66.0 70.0
Variance
0.2% 6% -2% -6% -3% -4% -1% -4% -5%
Quorn Grange Hotel HOTEL OCCUPANCY 2017
JAN FEB MAR APR MAY
Available Rooms
1,178
1,064
1,178
1,126
1,178
Occupancy 2016 Actual 2017 Actual 2017 Budget
44% 56% 54% 65% 68% 59% 62% 65% 74% 70 55% 58% 60% 65% 68% 4% 4% 5% 9% 6932%
Variance
Rooms Sold 2016 Actual 2017 Actual 2017 Budget
506 691 636
600 655 617
609 771 707
729 767 842 825 741 801
Variance
9% 6% 9% 14% 3%
Average Room Rate 2016 Actual
61.7 62.8 65.6 62.3 58.0 61.2 65.7 63.8 61.9 63.87 61.0 62.0 65.0 66.0 66.0 0.2% 6% -2% -6% -3%
2017 Actual 2017 Budget
Variance
1
Page:
Date: 18/10/2017
Quorn Grange Hotel
Time: 10:46
Profit & Loss by Department (Advanced Budget and Variance)
All
Period From:
2017 Month 9, September Year:
Department:
Period To:
Month 9, September
Chart of Accounts: Detailed Layout of Accounts
Actual
Budget
Variance
Sales Food & Beverages Miscellaneous Sales
34,086.85 1,518.32 62,533.38 3,638.33 37,401.50
11,104.45 1,018.32 5,077.38 (1,861.67) (7,598.50) (2,500.00)
22,982.40
500.00
Accomodation Conferences
57,456.00 5,500.00 45,000.00 2,500.00 5,745.60 2,600.00
Weddings
Hotel Events
0.00
Breakfast Sales Nursery Meals Gym Membership
5,919.51 1,752.85
173.91
(847.15) (329.87) (37.88)
370.13
700.00
Bank Interest Kurdish Event
12.12 33.33
50.00
33.33
0.00
147,266.32
143,034.00
4,232.32
Purchases Food & Beverages Purchases Miscellaneous Purchases
20,000.91
5,187.33
25,188.24
0.00
100.00
100.00
Function Purchases
2,347.48 1,234.42 6,023.02
(2,347.48) (1,234.42) (6,023.02)
0.00 0.00 0.00
Hotel Room Consumables
Movement in Stock
29,605.83
25,288.24
(4,317.59)
Direct Expenses Operating Gross Wages
38,839.49
18,374.11
57,213.60 1,430.34
Operating Employer Pension
511.18
919.16
Admin Gross Wages
16,804.69
(16,804.69)
0.00 0.00 0.00
Agency Staff
766.72 269.29
(766.72) (269.29)
Admin Employers Pension
57,191.37
58,643.94
1,452.57
Gross Profit (Loss):
60,469.12
59,101.82
1,367.30
Overheads Bar & Restaurant Consumables Cleaning & Laundry
163.40
(163.40)
0.00
6,198.01 (6,531.46) 3,294.17
696.71
6,894.72
Events
7,246.63 2,427.19
715.17
Marketing
5,721.36
Recruitment Advertising
0.00
60.00
60.00
IT Expenses
4,508.45 2,376.95
(3,508.45) (1,726.95)
1,000.00
Printing & Stationery
650.00
Postage
118.00
(83.00) (935.23)
35.00
Garden Expenditure Gym Expenditure Repairs & Maintenance
4,007.23
3,072.00
70.10
79.90
150.00
4,094.63 2,550.59 (40.76)
(2,083.67)
2,010.96 2,298.24
Kitchen Repairs & Maintenance Uniforms
(252.35)
240.76
200.00 350.00
Licences
266.10
83.90
Commissions
3,606.77
(1,308.53)
2,298.24
2
Page:
Date: 18/10/2017
Quorn Grange Hotel
Time: 10:46
Profit & Loss by Department (Advanced Budget and Variance)
All
Period From:
2017 Month 9, September Year:
Department:
Period To:
Month 9, September
Chart of Accounts: Detailed Layout of Accounts
Actual
Budget 6,436.53 8,582.04
Variance
Rates and Insurance Heat, Light and Power
5,874.53 5,050.66
562.00
3,531.38
Unpaid Bills Staff Drinks
0.00
30.00 22.50
30.00 75.00 50.00
52.50
Travel Expenses
329.80 222.12
(279.80)
Management Allowances Hotels & Subsistence Telephone & Internet
177.88
400.00
0.00
50.00
50.00
(1,135.17)
1,735.17
600.00 750.00 250.00 600.00
Professional Fees
225.00 170.77 519.45
525.00
Flowers & Xmas Decorations
79.23 80.55 85.00
Waste Management
Pest Control
0.00
85.00
Card Processing Charges
1,165.39 6,485.51
(165.39) (485.51)
1,000.00 6,000.00
Depreciation
Staff Training & Support
0.00
175.00
175.00 550.00
TV Subscriptions
716.93
(166.93)
Gifts
0.00
10.00
10.00
Donations
4,000.00 2,211.33
(4,000.00)
0.00
GFTU Salary Contribution
138.67 390.15
2,350.00
Directors Expenses
59.85
450.00
Bank Charges Till Variances
233.33
(233.33) (65.87)
0.00
85.87
20.00
50,950.05
53,919.26
2,969.21
Net Profit (Loss):
5,182.56
4,336.51
9,519.07
Nursery Budget 2017
Jan
Feb
Mar
Apr
Income Fees- including grant
20,000.00
20,000.00
21,000.00
21,000.00
Total
20,000.00
20,000.00
21,000.00
21,000.00
Expenses Staffing
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,200.00
Meals Food
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
Petty cash
Utilities: Gas
Utilities: Electricity
Utilities: Water
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
Telephone
Maintenance
100.00 100.00 100.00
100.00 100.00 100.00
Printing
Stationery Art supplies
50.00 80.00
50.00 50.00
50.00
Technology: Softwear Marketing: New Brochure
50.00 38.00
Pest control
38.00 50.00
38.00 50.00
Cleaning Supplies Waste Management
100.00 200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 250.00 100.00 200.00
IT expenses
Business Rates & Insurance
Professional Fees
Depreciation
Technology: Nursery Management Software Marketing: Website
Health and Safety / First Aid
Staff Training GFTU Gift Aid
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
GFTU salary contribution
Total
25,488.00
25,168.00
25,350.00
24,838.00
Net profit/loss
-
5,488.00
5,168.00 -
4,350.00 -
3,838.00 -
May
Jun
Jul
Aug
Sept
Oct
Nov
21,000.00
21,000.00
19,000.00
18,000.00
19,000.00
19,000.00
20,000.00
21,000.00
21,000.00
19,000.00
18,000.00
19,000.00
19,000.00
20,000.00
15,000.00 1,500.00
15,000.00 1,500.00
15,000.00 1,200.00
15,000.00
15,000.00
15,000.00 1,000.00
15,000.00 1,100.00
900.00 150.00 150.00 250.00 250.00
900.00 150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
150.00 150.00 250.00 250.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
100.00 100.00 100.00
100.00 100.00 100.00
100.00 100.00 100.00
100.00 100.00 100.00 100.00
50.00 80.00
50.00
50.00
50.00
800.00
100.00
100.00
50.00 38.00
38.00 50.00
38.00
38.00
38.00 50.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
50.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
100.00 200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
25,450.00
26,068.00
25,288.00
24,650.00
24,938.00
24,688.00
25,238.00
4,450.00 -
5,068.00 -
6,288.00 -
6,650.00 -
5,938.00 -
5,688.00 -
5,238.00 -
Dec
Total
20,000.00
239,000.00
20,000.00
239,000.00
15,000.00 1,100.00
180,000.00 14,900.00
150.00 150.00 250.00 250.00
1,800.00 1,800.00 3,000.00 3,000.00
50.00 50.00
600.00 600.00 600.00 600.00 900.00 410.00 800.00 300.00 342.00 900.00
50.00
38.00 50.00
200.00 150.00 500.00 200.00 150.00 100.00 250.00 100.00 200.00
2,400.00 1,800.00 6,000.00 2,400.00 1,800.00 3,000.00 1,200.00 2,400.00 48,000.00 21,600.00 800.00
4,000.00 1,800.00
24,788.00
301,952.00
4,788.00 -
-
62,952.00
Nursery Budget 2018 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Total
Income
Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Actual 2017 Budget 2017 Budget 2017 Budget 2017 Budget 2017
Fees- including LCC grant
20,600.00
20,600.00
20,600.00
22,900.00
25,400.00
25,200.00
26,200.00
29,452.00
19,000.00
19,000.00
20,000.00
20,000.00
268,952.00
Total
20,600.00
20,600.00
20,600.00
22,900.00
25,400.00
25,200.00
26,200.00
29,452.00
19,000.00
19,000.00
20,000.00
20,000.00
268,952.00
Expenses Staffing
15,000.00 1,500.00
15,000.00 1,600.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 2,200.00
15,000.00 1,200.00
15,000.00
15,000.00
15,000.00 1,000.00
15,000.00 1,100.00
15,000.00 1,100.00
180,000.00 18,100.00
Meals
900.00 150.00 250.00 250.00
900.00 150.00 250.00 250.00
Food
300.00 250.00 250.00
300.00 250.00 250.00
400.00 250.00 250.00
500.00 250.00 250.00
400.00 250.00 250.00
300.00 250.00 250.00
300.00 250.00 250.00
150.00 250.00 250.00
150.00 250.00 250.00
150.00 250.00 250.00
3,250.00 3,000.00 3,000.00
Utilities: Gas
Utilities: Electricity
Utilities: Water
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
50.00 50.00
600.00 600.00 600.00
Telephone
Repairs & Maintenance Printing & Stationery Art supplies (creative supplies)
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
100.00 250.00
250.00
250.00
250.00
250.00
250.00
250.00
3,000.00
200.00
200.00
200.00
200.00
200.00
200.00
200.00
1,400.00
Advertising/ Marketing: New Brochure, Website
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
150.00
1,800.00
Pest control
38.00
38.00
38.00
38.00
38.00
38.00
38.00
38.00
38.00
342.00 900.00
Cleaning Supplies Waste Management
150.00 200.00 125.00 500.00 200.00 200.00
150.00 400.00 125.00 500.00 200.00 200.00
150.00 500.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
150.00 200.00 125.00 500.00 200.00 200.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
300.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
300.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
200.00 125.00 500.00 200.00 200.00 125.00 150.00 100.00
3,100.00 1,500.00 6,000.00 2,400.00 2,400.00
IT expenses
Business Rates & Insurance
Professional Fees
Depreciation
Technology: Nursery Management Software
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
125.00 150.00
1,500.00 1,800.00
General Expenses
Staff Training GFTU Gift Aid
600.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
48,000.00 21,600.00
GFTU salary contribution
Total
25,588.00
25,338.00
26,550.00
26,238.00
26,650.00
26,038.00
25,288.00
24,450.00
24,838.00
24,588.00
25,038.00
24,888.00
305,492.00
Net profit/loss
-
4,988.00
4,738.00 -
5,950.00 -
3,338.00 -
1,250.00 -
-
838.00
912.00
5,002.00
5,838.00 -
5,588.00 -
5,038.00 -
-
4,888.00
-
36,540.00
Gift Aid
48,000.00 21,600.00
GFTU salary contribution
Assumpations
Fees income will be same as 2017
33,060.00
Garden expenses Budget ?????
Nursery Budget 2019
Double -current actual
New Build
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sept
Oct
Nov
Dec
Total
Income Fees- including grant School holiday club
40,000.00
40,000.00 1,512.00 2,100.00 2,100.00
42,000.00
42,000.00 2,419.20 1,400.00 1,400.00
42,000.00
42,000.00
40,000.00 3,024.00 1,540.00 1,540.00
40,000.00 4,838.40
38,000.00
38,000.00 1,512.00 2,380.00 2,380.00
40,000.00
40,000.00
484,000.00
604.80
604.80
14,515.20
Breakfast Club After School Club
2,520.00 2,520.00
3,220.00 3,220.00
2,660.00 2,660.00
2,800.00 2,800.00
840.00 840.00
2,940.00 2,940.00
3,080.00 3,080.00
1,960.00 1,960.00
27,440.00
27,440.00
Total
45,040.00
45,712.00
48,440.00
47,219.20
47,924.80
48,204.80
46,104.00
46,518.40
43,880.00
44,272.00
46,160.00
43,920.00
553,395.20
Expenses Staffing
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 2,900.00
32,000.00 3,500.00
32,000.00 3,500.00
32,000.00 2,900.00
32,000.00 2,300.00
32,000.00 2,300.00
32,000.00 2,300.00
32,000.00 2,700.00
32,000.00 2,700.00
384,000.00 35,600.00
Meals
Food
300.00 500.00 500.00 100.00 100.00 200.00 300.00 100.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00 100.00
300.00 500.00 500.00 100.00 100.00
300.00 500.00 500.00 100.00 100.00 200.00 300.00 200.00
300.00 500.00 500.00 100.00 100.00
3,600.00 6,000.00 6,000.00 1,200.00 1,200.00 1,200.00 3,600.00
Utilities: Gas
Utilities: Electricity
Utilities: Water
Telephone
Maintenance
-
-
-
-
-
-
Printing & Stationery
300.00 160.00
300.00 100.00
300.00 160.00
300.00
300.00
300.00
Art supplies
-
-
-
-
-
-
820.00
Advertising/ Marketing: New Brochure Website
100.00
-
- -
-
- -
-
200.00
200.00
-
-
100.00
-
600.00 684.00
Pest control
76.00
76.00
76.00
76.00
76.00
-
76.00
76.00
76.00
76.00
Cleaning Supplies Waste Management
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
200.00 400.00 300.00
100.00 400.00 300.00
1,800.00 4,800.00 3,600.00 12,000.00 4,800.00 3,600.00 1,800.00 2,400.00 4,800.00 48,000.00 21,600.00
IT expenses
Business Rates & Insurance
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
Professional Fees
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
400.00 300.00
Depreciation
Technology: Nursery Management Software
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
150.00 200.00 400.00
General Expense
Staff Training GFTU Gift Aid
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
4,000.00 1,800.00
GFTU salary contribution
Total
46,926.00
46,586.00
46,650.00
45,926.00
46,650.00
46,586.00
46,326.00
45,350.00
45,626.00
45,226.00
46,226.00
45,626.00
553,704.00
Net profit/loss
-
1,886.00
-
874.00
1,790.00
1,293.20
1,274.80
1,618.80
-
222.00
1,168.40
1,746.00 -
-
954.00
-
66.00
-
1,706.00
-
308.80
Gift Aid
48,000.00 21,600.00
GFTU salary contribution
69,291.20
Assumpations Fees income will be double
9 children
9 children 9 children 9 children 9 children 9 children
9 children
School holiday club
Half day plus 2 additional hours at 4.30/hr = £33.60 5 days
8 days
2 days
2 days
10 days
16 days
5 days
Income
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
1,512.00
Breakfast Club 7 children x £20 each session
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
1,680.00
Term days
18
15
23
10
19
20
11
6
21
17
22
14
196
Income
2,520.00
2,100.00
3,220.00
1,400.00
2,660.00
2,800.00
1,540.00
840.00
2,940.00
2,380.00
3,080.00
1,960.00
27,440.00
After School Club 7 children x £20 each session
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
140.00
1,680.00
Term days
18
15
23
10
19
20
11
6
21
17
22
14
196.00
Income
2,520.00
2,100.00
3,220.00
1,400.00
2,660.00
2,800.00
1,540.00
840.00
2,940.00
2,380.00
3,080.00
1,960.00
27,440.00
GFTU Educational Trust.
November 8 th meeting 2017.
Secretary’s Report.
Private and Confidential to Trustees only.
Introduction.
1
Firstly a warm welcome to Maddy, Charlotte and Antoinette our new Trustees.
2 For the benefit of our new members and really all of us, could I just remind us all that the Charity Commission has excellent guidance on being a charity Trustee on its website. This should be considered required reading. 3 All Trustees should have copies of the Trust deed which guide our work and set our legal boundaries and purpose.
4
Our main focus is the provision of adult and trade union education.
5 Our principles underpinning this work are contained in the booklet Education for Action which can be seen on the GFTU website.
6
We have an emphasis at present on arts and culture and history.
7 In addition I thought it may be helpful at the start of this report to just outline some of the key issues and structures as we have some technical as well as developmental issues to deal with at this meeting. 8 Until 2012 the Trust was more or less exclusively funded by the GFTU. There were some additional occasional EU funded schemes, but in the main the GFTU provided the core funding. When it sold its property in 2007 the GFTU gave the Trust in addition £3m to hold in Trust to further its educational purpose. As GFTU funds came under pressure, a strategy was agreed whereby the Trust should create its own funding streams and diversify its funding to relieve the pressure on GFTU resources. 9 The main investment the Trust made to increase its independent funding was the hotel and nursery purchased in 2012. 10 In addition the Trust started to develop smaller additional funding streams which were congruent with its purpose and which could slowly build up new income streams. These were, the Ethical Shop, Workable Books, commission on a range of GFTU services, events, a double CD of songs, grant applications, partnerships with higher education, alternative sources of funding. 11 While it is fair to say that these are all embryonic developments, they are important ones and need to grow to create more income. Meetings will be held with the Operations Manager and others to promote these effectively. These activities also create a high and positive profile for the Trust.
12 In 2017/18 we have been able to make our most comprehensive education offer ever.
1
13 The existing income from Quorn Grange Hotel and the nursery is not sufficient to meet our long term needs and sustainability. 14 Therefore over the last few years we have been carefully considering other ways of generating income. 15 We have settled on an expansion of the Quorn site with 25 new hotel bedrooms, a new nursery and new houses for rent. The business models for these and the target income streams on which these are based are £200k, £70k and £85k respectively. If these figures were achieved by way of surplus each year the Trust, and therefore the GFTU would be in a stronger position. 16 Planning permission for this development has been granted and relevant professional appointed. Project management meetings are held monthly for the new build project with all relevant professionals and a cost plan, cash flow etc have been prepared. 18 Inevitably in a project of this size issues have arisen and the Trustees will need to tackle some of these at this meeting and be aware of their impact. 19 Trustees will see that the nursery now separated as a new legal identity with its own accounts is not as profitable as we thought. Furthermore the budget plan, also attached for 2018 showed a potential deficit and the Directors have asked for it to be re designed. Further still I asked for a group to meet to consider the future nursery revenue post new build to again test the model of £70k profit per annum. No convincing analysis of this has yet returned and I have asked the Senior Finance Officer to now undertake a new study. Finally there has been a considerable problem of aged debtors at the nursery and special measures are now being taken by the Head of Finance and Finance Officer to address this. 20 The legal issue explored by our lawyers in terms of the status of the nursery as an entity can be put on hold until questions of financial viability going forward. 21 Whether the planned nursery building can be re-designated for alternative use is being explored. 22 Our next issue concerns the adequacy of the building designs in the hotel. As reported previously I moved us away from our original new build architect. One of the problems was there was insufficient detail in relation to the Goodacre Suite and meeting rooms. In effect the cost of expanding these as we had intended was not built into the cost plan. This has incurred further time in undertaking the budget planning and further costs to undertake a feasibility into expanding this area. At this stage a round estimate of extra costs is £150k and this will be assessed against future use. 23 Our neighbouring farmer Tom Duffin is an excellent neighbour and he and the hotel have worked together in a spirit of co-operation. Tom owns the track to the east of our land. He has kindly by verbal agreement granted access for plant to the new build site along his track. However we have a consideration that more than this could be needed long term and would ideally want a legally binding agreement, an easement, for some access. Informal discussions with Tom will have started prior to the Trustees’ meeting. 17 The funding for the new build, some £5.5m will be further gift aid from the GFTU to the Trust.
2
24 Extra costs will also be incurred during the new build on the following items. The first is not an option. The water storage reservoir for waste water will have to be bigger than anticipated, in fact it will go under most of the car park. 25 Extra costs will be entailed if we extend the Goodacre suite because hotel offices will have to be constructed in the reception area. 26 The Trust has no written agreements with either the GFTU, Hotel or Nursery for their occupation of our property. There will be a need for proper leases to be put in place upon completion of the new build to guarantee income to the Trust and clarify terms. These have been drafted by our lawyers and should considered in detail next year. 27 As you will see the lawyers have identified an anomaly in ownership. The land and property were purchased by the GFTU Educational Trust. Our lawyers say that this was incorrect as the Trust is not incorporated and they suggest a couple of solutions. Subject to further discussion with them and the views of the Trustees I would propose that we transfer ownership in the name of 2-4 Trustees. 28 These structural and tenancy issues, coupled with any resulting financial implications are the big ones we face to discharge our responsibilities. 30 We have proposed two further Service Level Agreements to one union at their request to generate further income through the finance team. No response has yet been received. 31 We have carefully analysed the income generated by our management of education courses for one union and this is satisfactory. 32 We have tendered for the whole financial services work, accountancy and audit for another union. We have been shortlisted and will present our case on November 9th. This tender will be worth £68k per annum and will require the employment of another finance officer. Commission will come to the Trust. 33 Further meetings on marketing our other new services, the ethical shop, publishing house and so on will need to be held with the Operations Manager. 34 The new housing on the Quorn site could be potentially managed in house, saving costs, and this will be explored. 35 We are dissatisfied with the services we have received by hotel and accommodation companies and are actively considering forming our own company. 36 We have discussed kitting out our new classrooms with support from the Leeds Beckett University. 29 We have been successful in generating new income from shared services.
37 We are considering grant applications for our future International Study visit for the GFTU EC.
38 We are supporting a number of grant applications for educational and history related projects.
Staffing.
39 This has been a difficult period staffing wise with a great deal of attention to HR being needed and perhaps a disproportionate amount of my time spent on it. Relative to our success over
3
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