Appendix
Financial Statements - Victory Hill Child Care Society
October 1, 2024Pages 357–3602 sections
Balance sheet and Profit and Loss statements for the childcare society for the period ending March 31, 2024.
Total Assets: $809,602.60Total Income: $438,214.75Profit: $0.00
Victory Hill Child Care Society
Balance Sheet
As of March 31, 2024
| AS OF MAR. 31, 2024 | AS OF MAR. 31, 2023 (PY) | CHANGE | % CHANGE | |
|---|---|---|---|---|
| Assets | ||||
| Current Assets | ||||
| Cash and Cash Equivalent | ||||
| Cash on hand | 0.00 | 0.00 | 0.00 | |
| Chequing CIBC 3410 | 31,473.32 | 42,762.08 | -11,288.76 | -26.40 % |
| Undeposited Funds | 0.00 | 0.00 | 0.00 | |
| Total Cash and Cash Equivalent | $31,473.32 | $42,762.08 | $ -11,288.76 | -26.40 % |
| Accounts Receivable (A/R) | ||||
| Accounts Receivable (A/R) | -0.01 | 20,821.03 | -20,821.04 | -100.00 % |
| Total Accounts Receivable (A/R) | $ -0.01 | $20,821.03 | $ -20,821.04 | -100.00 % |
| Deposits and Prepaid Expense | 0.00 | 0.00 | 0.00 | |
| Total Current Assets | $31,473.31 | $63,583.11 | $ -32,109.80 | -50.50 % |
| Non-current Assets | ||||
| Property, plant and equipment | ||||
| Victory Hill Daycare Leasehold Improvements | 778,129.29 | 255,284.84 | 522,844.45 | 204.81 % |
| Total Property, plant and equipment | $778,129.29 | $255,284.84 | $522,844.45 | 204.81 % |
| Total Non Current Assets | $778,129.29 | $255,284.84 | $522,844.45 | 204.81 % |
| Total Assets | $809,602.60 | $318,867.95 | $490,734.65 | 153.90 % |
| Liabilities and Equity | ||||
| Liabilities | ||||
| Current Liabilities | ||||
| Accounts Payable (A/P) | ||||
| Accounts Payable (A/P) | -50.40 | -50.40 | 0.00 | 0.00 % |
| Total Accounts Payable (A/P) | $ -50.40 | $ -50.40 | $0.00 | 0.00 % |
| Direct Deposit Payable | 0.00 | 0.00 | 0.00 | |
| GST/HST Payable | -1,635.77 | -102.92 | -1,532.85 | -1,489.36 % |
| Payroll Liabilities | ||||
| British Columbia WSBC | 645.31 | 161.91 | 483.40 | 298.56 % |
| Federal Taxes | 10,936.43 | 4,562.45 | 6,373.98 | 139.71 % |
| Health Benefits Employee Portion | 2,178.84 | 2,178.84 | ||
| Vacation Pay | 3,449.81 | 701.75 | 2,748.06 | 391.60 % |
| Total Payroll Liabilities | 17,210.39 | 5,426.11 | 11,784.28 | 217.18 % |
| Short Term Loan Payable | -5,000.64 | -5,000.64 | ||
| Total Current Liabilities | $10,523.58 | $5,272.79 | $5,250.79 | 99.58 % |
| Non-current Liabilities | ||||
| Other Liabilities | 50,000.00 | 55,000.00 | -5,000.00 | -9.09 % |
| Total Non-current Liabilities | $50,000.00 | $55,000.00 | $ -5,000.00 | -9.09 % |
| Total Liabilities | $60,523.58 | $60,272.79 | $250.79 | 0.42 % |
| Equity | ||||
| Operating Reserve | 57,868.03 | 57,868.03 | ||
| Restricted Funds - Leasehold Improvements Grants | 709,826.14 | 277,210.31 | 432,615.83 | 156.06 % |
| Retained Earnings | -18,615.15 | 106.85 | -18,722.00 | -17,521.76 % |
| Profit for the year | 0.00 | -18,722.00 | 18,722.00 | 100.00 % |
| Total Equity | $749,079.02 | $258,595.16 | $490,483.86 | 189.67 % |
| Total Liabilities and Equity | $809,602.60 | $318,867.95 | $490,734.65 | 153.90 % |
Page 357–360
Victory Hill Child Care Society
Profit and Loss
April 2023 - March 2024
| APR. 2023 - MAR. 2024 | APR. 2022 - MAR. 2023 (PY) | CHANGE | % CHANGE | |
|---|---|---|---|---|
| INCOME | ||||
| Childcare Fees | ||||
| Daycare Fee - Parents Net | 108,287.37 | 4,155.00 | 104,132.37 | 2,506.19 % |
| Other Childcare Service Fees | 100.00 | -100.00 | -100.00 % | |
| Total Childcare Fees | 108,287.37 | 4,255.00 | 104,032.37 | 2,444.94 % |
| Direct Public Support | ||||
| Individ, Business Contributions | 50.40 | -50.40 | -100.00 % | |
| Total Direct Public Support | 50.40 | -50.40 | -100.00 % | |
| Discounts given | -963.60 | -963.60 | ||
| Indirect Public Support | ||||
| Charitable Organizations Contributions | 24,077.08 | 24,077.08 | ||
| Government Grants and Subsidies | ||||
| BCGOV - Child Care Fee Reduction Initiative (CCFR) | 199,686.73 | 199,686.73 | ||
| BCGOV - Child Care Operating Funding (CCOF) | 44,331.90 | 44,331.90 | ||
| BCGOV - Child Care Operating Funding Top-Up (CCOF-ADD) | 19,902.56 | 19,902.56 | ||
| BCGOV - Child Care Provider Subsidy | 26,824.91 | 26,824.91 | ||
| BCGOV - Early Childhood Educator Wage Enhancement (ECE-WE) | 16,067.80 | 16,067.80 | ||
| Total Government Grants and Subsidies | 306,813.90 | 306,813.90 | ||
| Total Indirect Public Support | 330,890.98 | 330,890.98 | ||
| Total Income | $438,214.75 | $4,305.40 | $433,909.35 | 10,078.26 % |
| GROSS PROFIT | $438,214.75 | $4,305.40 | $433,909.35 | 10,078.26 % |
| EXPENSES | ||||
| Business Expenses | ||||
| Business Registration Fees | 100.00 | 100.00 | ||
| Promotional Meals - Staff Events | 931.61 | 931.61 | ||
| Total Business Expenses | 1,031.61 | 1,031.61 | ||
| Childcare Operations | ||||
| Books, Subscriptions, Reference | 1,475.17 | 793.79 | 681.38 | 85.84 % |
| Supplies | 6,508.13 | 1,233.99 | 5,274.14 | 427.41 % |
| Telephone, Telecommunications | 1,021.22 | 261.00 | 760.22 | 291.27 % |
| Total Childcare Operations | 9,004.52 | 2,288.78 | 6,715.74 | 293.42 % |
| Contract Services | ||||
| Bookkeeping and Accounting Fees | 1,952.38 | 302.40 | 1,649.98 | 545.63 % |
| Business and Management Consulting | 560.00 | 560.00 | ||
| Total Contract Services | 2,512.38 | 302.40 | 2,209.98 | 730.81 % |
| Facilities and Equipment | ||||
| Building Maintenance Services | 5,762.37 | 405.00 | 5,357.37 | 1,322.81 % |
| Cleaning Services | 3,190.00 | 3,190.00 | ||
| Rent and Leases | 42,300.00 | 42,300.00 | ||
| Utilities - Hydro and Gas | 1,791.33 | 1,791.33 | ||
| Total Facilities and Equipment | 53,043.70 | 405.00 | 52,638.70 | 12,997.21 % |
| Other Childcare Services Expenses | ||||
| Bank Charges | 2,630.96 | 256.57 | 2,374.39 | 925.44 % |
| QuickBooks Payments Fees | 3.15 | -3.15 | -100.00 % | |
| Total Other Childcare Services Expenses | 2,630.96 | 259.72 | 2,371.24 | 913.00 % |
| Payroll Expenses | ||||
| Employee Benefits | 11,068.19 | 11,068.19 | ||
| Taxes | 23,694.89 | 1,526.05 | 22,168.84 | 1,452.69 % |
| Wages | 264,180.66 | 18,245.45 | 245,935.21 | 1,347.93 % |
| Total Payroll Expenses | 298,943.74 | 19,771.50 | 279,172.24 | 1,411.99 % |
| Reimbursements | 422.37 | 422.37 | ||
| Uncategorized Expense | 12,757.44 | 12,757.44 | ||
| Total Expenses | $380,346.72 | $23,027.40 | $357,319.32 | 1,551.71 % |
| OTHER EXPENSES | ||||
| Accrued Expenses and Revenue deferral and transfers | 57,868.03 | 57,868.03 | ||
| Total Other Expenses | $57,868.03 | $0.00 | $57,868.03 | 0.00% |
| PROFIT | $0.00 | $ -18,722.00 | $18,722.00 | 100.00 % |
Page 357–360
Extracted from: 2024 10 01 Council Agenda - Agenda - Pdf