REGISTERED CHARITY NUMBER: 1003253
Report of the Trustees and
Financial Statements
for the Year Ended 31 December 2024
for
Middle Rasen Nursery
Middle Rasen Nursery
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Statement of Financial Position | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
Middle Rasen Nursery
Report of the Trustees for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Principal aim of the charity is to advance the education of children, primarily but not exclusively below compulsory school age by;
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Providing safe and satisfying group play and planned educational activities
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Encouraging other charitable activities through which parents may help the children
Public benefit
The trustees have regard to the Charity Commission's general guidance on public benefit and always ensure that activities which we undertake are in line with our charitable objects and aims.
Volunteers
The charity actively encourages the use of volunteers to support them with delivering the charitable aims. Volunteers presently come from within the pool of members who are parents of those children enrolled with the nursery.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
This past year the nursery and after school club have both been fully subscribed, with waiting lists in place for all ages.
We successfully ran our summer club which again was well supported by parents in need of childcare over the summer whilst they continued to work.
The nursery are extremely grateful for the support of The John Wilkinson Trust who have provided funding towards many things, including the leavers trip to Hall Farm and the fitting of new facias to the nursery building, Tesco with their fair share boxes and food donations, Coop for donating towards our breakfast and after school club, and the Middle Rasen Duck Race who have donated funds which were used to purchase equipment, games and supplies to support our breakfast and after school club provision.
We had our Ofsted inspection and were pleased to retain our rating as 'Good'.
Fundraising activities
During the year the nursery continued with their fundraising efforts to raise funds towards a full garden revamp. The nursery committee put on a successful Easter Egg Hunt which raised £250. We put on a very successful 'Middle Rasen Festival' to celebrate the Nursery's 40th Anniversary, which was well supported and raised £856, along with the sale of refreshments at the school summer fair.
The nursery staff attended Middle Rasen Village Hall Fair and raised £180, then hosted their popular Christmas craft evening, which raised a total of £153. Fundraising has continued to grow from strength to strength and the nursery are grateful to those involved in undertaking these activities, the staff for giving up their free time, and to parents and members for supporting the events.
FINANCIAL REVIEW
Financial position
It has been a stronger year financially for the nursery, with the introduction of additional funding hours for children. We have continued to improve the nursery buildings with the installation of LED lighting and upgrading the emergency lighting in the facility. We have also replaced the facias and guttering on the outside of the building with the generous support of the Wilkinson Trust
Reserves policy
The committee have established a policy whereby the free reserves, that being the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be equivalent to approximately 6 months resources expended, which equates to £70,000 in general funds. At this level, the management committee feel they would be able to continue running the organisation in the event of a loss of all funding sources. At 31 December 2024 the free reserves were £93,190 and as such above the expected level, however the committee continue to monitor funds available.
Going concern
The trustees consider the charity to be a going concern. The nursery continues to go from strength to strength. There is a waiting list for places in the nursery setting and the charity is anticipating a surplus in the coming year following the increase to fees in order to cover overall running costs.
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Middle Rasen Nursery
Report of the Trustees for the Year Ended 31 December 2024
FUTURE PLANS
The nursery continues to explore the possibility of expanding its provision in order to eliminate the current waiting list for places. There is a particular need for out of school provision and we will work closely with the primary school to explore options for increasing the number of places available.
The future plans centre around the core aims of the charity which are to enhance the education of children. The nursery continues to look for the very best team to lead this provision, and has appointed a number of people since the year end who have enhanced an already great team.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its constitution and represents an unincorporated charity.
Recruitment and appointment of new trustees
New trustees are recruited from the membership pool, that being parents of the children the nursery cares for. In addition to this the board are always keen to speak with external parties who are interested in bringing their expertise to enhance the board.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1003253
Principal address
North Street Middle Rasen MARKET RASEN Lincolnshire LN8 3TS
Trustees
Mrs R Moreton (resigned 14.10.24) Mrs C Snell (resigned 14.10.24) J Langley Secretary H Long (resigned 14.10.24) Mr N Hunt
Independent Examiner
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
Approved by order of the board of trustees on 16 October 2025 and signed on its behalf by:
J Langley - Trustee
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Independent Examiner's Report to the Trustees of Middle Rasen Nursery
Independent examiner's report to the trustees of Middle Rasen Nursery
I report to the charity trustees on my examination of the accounts of Middle Rasen Nursery (the Trust) for the year ended 31 December 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Steve Robinson ACA
Nicholsons Chartered Accountants Newland House The Point Weaver Road LINCOLN Lincolnshire LN6 3QN
30 July 2026
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Middle Rasen Nursery
Statement of Financial Activities
for the Year Ended 31 December 2024
| 2024 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 4,147 Charitable activities 4 Nursery Provision 283,814 Other trading activities 2 1,717 Investment income 3 15 Total 289,693 EXPENDITURE ON Charitable activities Nursery Provision 260,035 NET INCOME/(EXPENDITURE) 29,658 RECONCILIATION OF FUNDS Total funds brought forward 70,284 TOTAL FUNDS CARRIED FORWARD 99,942 |
2023 Total funds £ 3,429 227,960 1,402 8 232,799 261,807 (29,008) 99,292 70,284 |
|---|---|
The notes form part of these financial statements
Page 4
Middle Rasen Nursery
Statement of Financial Position
31 December 2024
| 2024 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 7 4,195 CURRENT ASSETS Debtors 8 4,989 Cash at bank 96,198 101,187 CREDITORS Amounts falling due within one year 9 (5,440) NET CURRENT ASSETS 95,747 TOTAL ASSETS LESS CURRENT LIABILITIES 99,942 NET ASSETS 99,942 FUNDS 10 Unrestricted funds 99,942 TOTAL FUNDS 99,942 |
2023 Total funds £ 5,244 5,086 70,250 75,336 (10,296) 65,040 70,284 70,284 70,284 70,284 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 16 October 2025 and were signed on its behalf by:
J Langley - Trustee
The notes form part of these financial statements
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Middle Rasen Nursery
Notes to the Financial Statements for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Donated services and facilities:
Donated services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably.
On receipt, donated services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Grants:
Income from grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance Fixtures and fittings - 20% on reducing balance Computer equipment - 20% on reducing balance
Taxation
The charity is exempt from tax and VAT on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going concern
The charity's main source of income is from the provision of childcare services, both funded and non funded. The trustees confirm that they are not aware of any circumstances which indicate there will be any cessation of the provision of these services. Furthermore the charity continues to strive to generate additional funding where possible, and as such the financial statements are prepared on a going concern basis.
Financial instruments
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Middle Rasen Nursery
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
1. ACCOUNTING POLICIES - continued
Going concern
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2. OTHER TRADING ACTIVITIES
| 2. | OTHER TRADING ACTIVITIES | |||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Fundraising events | 1,717 | 1,402 | ||
| 3. | INVESTMENT INCOME | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Deposit account interest | 15 | 8 | ||
| 4. | INCOME FROM CHARITABLE | ACTIVITIES | ||
| 2024 | 2023 | |||
| Activity | £ | £ | ||
| Childcare services | Nursery Provision | 283,814 | 227,960 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
6. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Nursery practitioners Administration |
2024 £ 202,011 10,000 3,967 215,978 2024 11 1 12 |
2023 £ 194,444 7,932 3,348 |
||
|---|---|---|---|---|
| 205,724 | ||||
| 2023 11 1 12 |
No employees received emoluments in excess of £60,000.
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Middle Rasen Nursery
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
7. TANGIBLE FIXED ASSETS
| Plant and machinery £ COST At 1 January 2024 17,967 Reclassification (17,967) At 31 December 2024 - DEPRECIATION At 1 January 2024 16,508 Charge for year - Reclassification/transfer (16,508) At 31 December 2024 - NET BOOK VALUE At 31 December 2024 - At 31 December 2023 1,459 8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Other creditors Accruals and deferred income 10. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS |
Fixtures and fittings £ 13,682 17,967 31,649 11,542 720 16,508 28,770 2,879 2,140 At 1.1.24 £ 70,284 70,284 Incoming resources £ 289,693 289,693 |
Computer equipment Totals £ £ 7,272 38,921 - - 7,272 38,921 5,627 33,677 329 1,049 - - 5,956 34,726 1,316 4,195 1,645 5,244 2024 2023 £ £ 3,627 3,724 1,362 1,362 4,989 5,086 2024 2023 £ £ 237 2,551 743 680 4,460 7,065 5,440 10,296 Net movement At in funds 31.12.24 £ £ 29,658 99,942 29,658 99,942 Resources Movement expended in funds £ £ (260,035) 29,658 (260,035) 29,658 |
Computer equipment Totals £ £ 7,272 38,921 - - 7,272 38,921 5,627 33,677 329 1,049 - - 5,956 34,726 1,316 4,195 1,645 5,244 2024 2023 £ £ 3,627 3,724 1,362 1,362 4,989 5,086 2024 2023 £ £ 237 2,551 743 680 4,460 7,065 5,440 10,296 Net movement At in funds 31.12.24 £ £ 29,658 99,942 29,658 99,942 Resources Movement expended in funds £ £ (260,035) 29,658 (260,035) 29,658 |
Totals £ 38,921 - |
Totals £ 38,921 - |
|---|---|---|---|---|---|
| 38,921 | |||||
| 33,677 1,049 - |
|||||
| 34,726 | |||||
| 4,195 | |||||
| 5,244 | |||||
| 2023 £ 3,724 1,362 |
|||||
| 5,086 | |||||
| 2023 £ 2,551 680 7,065 |
|||||
| 10,296 | |||||
| 29,658 |
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Middle Rasen Nursery
Notes to the Financial Statements - continued
for the Year Ended 31 December 2024
10. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| At 1.1.23 £ Unrestricted funds General fund 99,292 TOTAL FUNDS 99,292 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 232,799 ( TOTAL FUNDS 232,799 ( |
Net movement At in funds 31.12.23 £ £ (29,008) 70,284 (29,008) 70,284 Resources Movement expended in funds £ £ 261,807) (29,008) 261,807) (29,008) |
Net movement At in funds 31.12.23 £ £ (29,008) 70,284 (29,008) 70,284 Resources Movement expended in funds £ £ 261,807) (29,008) 261,807) (29,008) |
|---|---|---|
| (29,008) |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.1.23 | in funds | 31.12.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 99,292 | 650 | 99,942 |
| TOTAL FUNDS | 99,292 | 650 | 99,942 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 522,492 | (521,842) | 650 |
| TOTAL FUNDS | 522,492 | (521,842) | 650 |
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Middle Rasen Nursery
Notes to the Financial Statements - continued for the Year Ended 31 December 2024
11. RELATED PARTY DISCLOSURES
Various members of the board utilised the nursery provisions throughout the year, this was done so on normal commercial terms and at the same rates as other members.
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