So how does funding actually work?

[Fairy45]

My child is about to recieve the 15 hours free. However i will need to drop her off at 8am and collect at 5. She is only in 2 days a week but not term time only. Im a teacher so would love to change her to a term time only nursery its just finding the correct 1 in the correct place. How much would it save me to get her in a term time only nursery?

It varies hugely. It tends to be more common for school nurseries or pre-schools to offer term time only places but they often run school hours only e.g. 9-3. If you do find one, it may be that you can only use the funding for set hours so you may still have to pay for wraparound care. You're best just ringing all your local settings (maybe try childminders too?) and asking.

It is up to each setting, whether nursery or childminder, how they choose to offer the funded hours. You will need to speak to each one individually.

Some Nurseries Divide the funding by the 38 weeks they get it for, then multiple it by 52 and share it out across the year.
Some have particular 'funded hour times' so you might not be able to get 15 hours off your bill for a 2 day pattern of attendance.
Some have to then charge for meals separately, or for 'lunch time supervision' between morning and afternoon sessions, or some other way of getting their books to balance.
They all work differently, so you really need to ask your own Nursery.

Oh thank you guys! Suppose id best get phoning around then

As others have said, term time nurseries and pre schools are often open shorter hours, but not always. Some childminders work term time only.

I echo the above advice, which is to phone around.