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2025-08-31-accounts

Charity registration number 1018543 (England and Wales)

OUR LADY'S FIRST STEPS PRE SCHOOL

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

OUR LADY'S FIRST STEPS PRE SCHOOL

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees M Gaskin
P Whimperley
A Gibson
A Teeling
Charity registration England and Wales 1018543
Principal address Clinton View
Widnes
Cheshire
WA8 8JN
Independent examiner Mitchell Charlesworth
Glebe Business Park
Lunts Heath Road
Widnes
Cheshire
WA8 5SQ

OUR LADY'S FIRST STEPS PRE SCHOOL

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Statement of cash flows 6
Notes to the financial statements 7 - 14

OUR LADY'S FIRST STEPS PRE SCHOOL

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's constitution, the Charities Act 2011 and "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

The charity's objects are to enhance the development and education of children primarily under statutory school aged by encouraging parents to understand and provide for the needs of their children through community groups and by; (A) Offering appropriate play, education and care facilities, family learning and extended hours groups, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means or ability. (B) Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs in the local areas. (C) Instigating and adhering to and furthering the aims and objects of the pre-school learning alliance. There has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

The manager thanked the long-standing committee members and introduced the new Chairperson, Mrs Angela Teeling. Angela is looking forward to her role and working with the management team to appoint a new treasurer, secretary and committee members.

Staff continue to work hard to ensure that all children’s individual needs are met. The addition of Special Educational Needs Inclusion Funding from Halton Borough Council has enabled the nursery to purchase new equipment to support children with SEN.

Financial review

At 31 August 2025, the nursery had a positive bank balance of £70,022, an increase of £64,464 compared to 2024. This increase is largely due to the introduction of 30 hours funding for eligible children from 9 months old.

Although funding rates are lower for 2–4 year olds, the higher rate for babies has positively impacted income. Attendance remains lower than previous years, likely due to lower birth rates nationally.

The wage bill reduced slightly due to two members of staff leaving towards the end of the school year.

Since stopping use of Halton Borough Council for school meals in April 2024, the nursery has seen financial benefits. By October 2024, the VAT bill for these meals had been cleared.

The projected bank balance for August 2026 is expected to increase further, enabling improvements to classrooms, the building, gardens, and play areas.

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Risk policy

The trustees has assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

OUR LADY'S FIRST STEPS PRE SCHOOL

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

Plans for future periods

Continue to improve the nursery environment inside and outside. Ensure all staff continue to develop their skills by providing in-house training. To provide work shops for parents to attend alongside staff.

Structure, governance and management

The charity is registered in England and Wales under a Constitution adopted on 14 January 1993 as amended on 1 December 1999 and by a scheme of amendment on 1 March 2017.

Trustees

The trustees who served during the year and up to the date of signature of the financial statements were:

M Gaskin P Whimperley A Gibson A Teeling

Chairperson's closing report

Pat Whimperley thanked all staff and the management team who continue to show dedication to the children and parents. The nursery has a very good reputation in the community and this is largely due to them.

Hopefully, the nee committee will be able to take up their roles in the near future, I wish them all the luck in the world. I am sure they will find it a rewarding role.

The trustees' report was approved by the Board of Trustees.

M Gaskin

Trustee

29 June 2026

OUR LADY'S FIRST STEPS PRE SCHOOL

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF OUR LADY'S FIRST STEPS PRE SCHOOL

I report to the trustees on my examination of the financial statements of Our Lady's First Steps Pre school (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011.

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of chartered, which is one of the listed bodies.

Your attention is drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn. I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

P L Griffiths FCA DChA on behalf of Mitchell Charlesworth

Glebe Business Park Lunts Heath Road Widnes Cheshire WA8 5SQ

Dated: 29 June 2026

OUR LADY'S FIRST STEPS PRE SCHOOL

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted Unrestricted
funds funds
2025 2024
Notes £ £
Income from:
Charitable activities 2 816,875 791,311
Total income 816,875 791,311
Expenditure on:
Charitable activities 3 765,476 779,995
Total expenditure 765,476 779,995
Net income and movement in funds 51,399 11,316
Reconciliation of funds:
Fund balances at 1 September 2024 22,152 10,836
Fund balances at 31 August 2025 73,551 22,152

OUR LADY'S FIRST STEPS PRE SCHOOL

BALANCE SHEET

AS AT 31 AUGUST 2025

2025
Notes
£
Fixed assets
Tangible assets
9
Current assets
Debtors
10
13,402
Cash at bank and in hand
70,022
83,424
Creditors: amounts falling due within one year
11
(28,182)
Net current assets/(liabilities)
Total assets less current liabilities
The funds of the charity
Unrestricted funds
13		 2024
£
£
£
18,309
34,690
13,164
5,559
18,723
(31,261)
55,242
(12,538)
73,551
22,152
73,551
22,152
73,551
22,152

The financial statements were approved by the trustees on 29 June 2026

M Gaskin

Trustee

OUR LADY'S FIRST STEPS PRE SCHOOL

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
15
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(2,173)		 £
66,636
(2,173)
-
64,463
5,559
70,022		 2024
£
(2,866)		 £
15,992
(2,866)
-
13,126
(7,567)
5,559

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Our Lady's First Steps Pre School is a charity incorporated in England and Wales. The principal office is Clinton View, Widnes, Cheshire, WA8 8JN. The nature of the charity’s operations and principal activities are described in the Trustees’ Report on page 1.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's constitution adopted on 14 January 1993 as amended on 1 December 1999 and by a scheme of variation dated 1 March 2017, the Charities Act 2011 and "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Income from nursery fees is recognised in accordance with the period to which the fees relate.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Improvements to property 10% straight line
Fixtures and fittings 15% straight line
Computers 33.3% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected.

If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in net income/(expenditure) for the year.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in net income/(expenditure) for the year.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Charitable activities
Nursery fees 286,932 433,546
Milk reimbursement 1,294 1,742
Other income 721 1,648
Nursery income 527,928 354,375
816,875 791,311

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

3 Expenditure on charitable activities

Direct costs
Staff costs
Depreciation and impairment
Insurance and rates
Repairs and maintenance
Groceries
School meals
Consumables
Toys and equipment
Printing, stationery and postage
Sundry expenses
Bank charges and interest
Utilities
Professional subscriptions
Share of support and governance costs (see note 4)
Support
Governance
Analysis by fund
Unrestricted funds
Support costs
Support costs
Governance
costs
£
£
Other office costs
875
-
Independent examination
fees
-
3,635
875
3,635
Analysed between
Charitable activities
875
3,635		 Charitable
Expenditure
Charitable
Expenditure
2025
2024
£
£
665,445
639,522
18,554
19,469
4,807
3,273
5,634
9,211
29,267
22,342
102
41,984
12,465
12,361
5,276
5,902
1,743
1,479
3,295
3,998
1,589
2,855
7,596
9,454
5,193
4,651
760,966
776,501
875
1,069
3,635
2,425
765,476
779,995
765,476
779,995
2025 Support costs
Governance
costs
2024
£
£
£
£
875
1,069
-
1,069
3,635
-
2,425
2,425
4,510
1,069
2,425
3,494
4,510
1,069
2,425
3,494		 Charitable
Expenditure
Charitable
Expenditure
2025
2024
£
£
665,445
639,522
18,554
19,469
4,807
3,273
5,634
9,211
29,267
22,342
102
41,984
12,465
12,361
5,276
5,902
1,743
1,479
3,295
3,998
1,589
2,855
7,596
9,454
5,193
4,651
760,966
776,501
875
1,069
3,635
2,425
765,476
779,995
765,476
779,995
2025 Support costs
Governance
costs
2024
£
£
£
£
875
1,069
-
1,069
3,635
-
2,425
2,425
4,510
1,069
2,425
3,494
4,510
1,069
2,425
3,494
776,501
1,069
2,425
779,995
779,995
2024
£
1,069
2,425
3,494
3,494

4 Support costs

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

5 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets 18,554 19,469

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

There were no expenses reimbursed to trustees during the year.

7 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
35
2025
£
613,103
43,091
9,251
665,445		 2024
Number
34
2024
£
595,913
35,109
8,500
639,522

There were no employees whose annual remuneration was more than £60,000.

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

Childcare manager £40,004 (2024 - £39,099).

8 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

9
Tangible fixed assets
Improvements to
property
Fixtures and
fittings
£
£
Cost
At 1 September 2024
7,603
123,027
Additions
-
1,767
At 31 August 2025
7,603
124,794
Depreciation and impairment
At 1 September 2024
2,281
94,090
Depreciation charged in the year
760
17,511
At 31 August 2025
3,041
111,601
Carrying amount
At 31 August 2025
4,562
13,193
At 31 August 2024
5,322
28,937
10
Debtors
Amounts falling due within one year:
Trade debtors
11
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income
12
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 Computers
£
5,807
406
6,213
5,376
283
5,659
554
431
2025
£
13,402
2025
£
9,769
1,896
11,439
5,078
28,182
2025
£
9,251		 Total
£
136,437
2,173
138,610
101,747
18,554
120,301
18,309
34,690
2024
£
13,164
2024
£
9,154
3,377
15,610
3,120
31,261
2024
£
8,500

OUR LADY'S FIRST STEPS PRE SCHOOL

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

12 Retirement benefit schemes

(Continued)

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

13 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 September Incoming Resources At 31 August
2024 resources expended 2025
£ £ £ £
General funds 22,152 816,875 (765,476) 73,551
Previous year: At 1 September Incoming Resources At 31 August
2023 resources expended 2024
£ £ £ £
General funds 10,836 791,311 (779,995) 22,152
14 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
15 Cash generated from operations 2025 2024
£ £
Surplus for the year 51,399 11,316
Adjustments for:
Depreciation and impairment of tangible fixed assets 18,554 19,469
Movements in working capital:
(Increase) in debtors (238) (594)
(Decrease) in creditors (3,079) (14,199)
Cash generated from operations 66,636 15,992

16 Analysis of changes in net funds

The charity had no material debt during the year.