I'm accredited but don't have any children drawing funding at the moment. They are entitled to the funded spaces the term after their 3rd birthday. Then usually they would start school the september after their 4th birthday.
The funding is set by the local council so varies round here its about £3.50 hour I think did'nt pay much attention as not currently getting it.
As someone said earlier you get the payments in lump sums and so usually work for quite a bit before getting the money so would have to keep this in mind when working out a wage.
I work all year and have some children that do holidays only which means I'm full in the hols and make most of my money during this time as obviously you can have your 6 kids under 8 in then.
Knowledge is power and its also tax free
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