Reglstered number. 02826849 Charity number: 1024644 Derwant Stopplng Stone8 Nursery and Communlty Tralnlng Centre Trustees, report and financial ststements For the ypar ended 31 July 2024 rfIDAINS ACCOUNTANTS
Dorwent Stopplng Stones Nursory and Communlty Tralnlng Contre (A company limitod by guarantèe) Contents Page oran and admlnlstratlve details of the Charfty, Its Trusteos and advlsers Trustees. report TruBt•es' rnsponsibilities statoment Independent auditors, roport on tho flnanclal statsments Statement of Ilnanclal a¢trvltle$ 9-12 13 Balance sho•t 14-15 Statemont of ush flow8 Notes to the flnanclal staiements 17-34
Derwènt st•pplng Stonos Nursery and Communlty Training C•ntro {A company Ilmliod by guarant•o) Roforon¢g and administrativ6 details of tho Charlty. Its Trustses and advlsers For thè year ended 31 July 2024 Trusteos N M Bamford J Cordon (resigned 28 S8Ptember 2024) H M Wigglesworth {resigned 1 Septsmbèr 2024) K Henshaw C L Thompson (resigned 10 June 2024) H L Dixon (resigned 10 November 2023) R M North (aprK)inted 1 S8Ptemb8r 2024) K Puszczynska (appointed 24 March 2025) H Smith {chair) (appointed 19 December 2024) Company rnglstarnd number 02826849 Charfty regl8torod numbor 1024544 Reglstorod offjco Derwent Stepplng Stones st Marks Road Derby DerbyBhire DE216AH Company sacrntary Kelty Jackson Indopondant audltors Dains Audit Limited Statutory Auditor Suite 2. Albion House 2 Etmria Office Village Forge Lane stoke on Trent Staffordshire ST15RQ Bankers Cowoperalive Bank p.l.c 31 East Street Derby DE12AL Page 1
Donyant Stopping Stones Nursory and Communlty Tralnlng Contrn (A company Ilmltsd by guaranteo) Trustees. report Forthe yoar endad 31 July 2024 The trustees present their annual report and financial statements for the year ended 31st July 2024. The financial Statements have been prepared in accordanca wth thg accounting policies set out in note 1 to tt financial statements and comply with the charitys Memorandum and Articles of Association, the Companies Act 2006 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>" Derwent Stepping Stones has been a wholty ovmed subsidiary of YMCA D8yshir8 throughout the year. Obioclivo8 and •ctivitigs . qectlvos and Actlvltles The chaiitys otiects are: to advance the education of chlldren and to provide recreatiLal facilities for them in the interests of social to provide education and vocational training for all members of the community in the educationel and other needs of children and in teaching the care of children. to aid. help. protect and care for children who are in need of such assistsnce. The trustees have paid due regard to guidance issued by the Charity Commission in dedIng what activities the charity should undertake. b. Publlc bonoflt The Trustees are of th8 oplnlon that all the purposes of Derwent Stepping Stones Nurs6ry and Communlty Tralnlng Centre a for the benefit of the publlc. In thelr capa¢lty as Trustees. they conslder Ihat they have complied with thoir dulles under section 4 of the Charltl8s Act 20C6 to hav8 due r8gard to public benefflt guldance published by the Charity Commlsslon. Page 2
Dorwent Stepplng Stones Nury and Communlty Tralnlng Centre (A company Ilmited by guarante#) Trusto6s' rnport (contlnuod) For the year ended 31 Juty 2024 Achlavemonts and porfomianca •. Main achlavamonts of tho Charlty Early Years and Chlldcare as an industy remains a challenge with fundlng18vals adversely disproportionate to F)st pandemlc chlld developm8nt needs and stsffing costs. YMCA and DSS have worked tirelessty to reduce central costs vthilst ensuring front lina delivery remains at sustainable levels. Confuslon arwnd percAiv8d free childcare has réqutred marketiry campaigns to ensure parentsl gu8rdlans 8re aware of their entitlements and numbers at YMCA Stspplng Stones continue to grow and remain at sustalnable18vels. Durlng th8 period w8 have provided early years educatlon to over 300 children. Occupancy at both of our sltss has been good with some limits on the numbers we have been able to support set by a dffiojlty in recruitment of appn>priately qualffied staff. New models have enabled us to offer more flexibility to faMils. maximis8 ratio requirements and ensure we continue to meet our social objectives of supporting vulnerable families with fully funded sessions. DSS became a vtholly owned subsidiary of YMCA Derbyshire in October 2022. In 2023 Derwent Stepping Stones achieved Ofsted Good ratings in all settings whilst Undering a cc4nplete rebrand to YMCA Stepping Stones. The charity also became fully integrated into YMCA Lrfalong Leaming directhte as part of Earfy Year and Childcare SeNice alongside Ykidz ensuring comprehensive community access to lifelong learning and childcare. YMCA Management also advocated strongly for equlty In SEND funding ard devdoped growth strategy through 2024-2030 busin8ss plan. YMCA Stepping Stones Leadership was. through the charltles CEO, Invlted to res8arch and support the local authorlty In regard to suffici8ncy of staffing within thè early years sector. Page 3
Derwont Stepplng Slones Nursery and Communlty Tralnlng Centro (A company Ilmlted by guaranto• Trust•es' rnport (eontlnuéd) For tho yoar ended 31 Juty 2024 Flnanclal rovlew a. Results for the year The results for th8 year ar8 as detailed on page 13 to the financial statements. Principal funding sources Childcare was the principal source of funding during the year with fees received direct from government funded places and direct frrm Parents. This has been augmented by grants and donation5 and nx)m hire income. Imi8stm8nt powers. policy and perfOrffr1c8 The trustoes. investment powers are govemed by the Memorandum and Artides of knciation. vthith permits the charitys funds to be invested in. cf on suth inv8stm8nts, securities or property as may be thought fft. b. Going ConMrn and Reserves pollcy At the date of approving the acGounts. the directors have reviewed the current management infoTmation available and forecasts for the coming 12 months. As a result of this. the directors a reasonable expectation that the charity 11 continue In operation81 exrstsnce for the foreseeable future. Therefore the Trustees conslder It approprf8te to contlnue to adopt the going concern basis in preparlng the financial statements. At the perfod end total funds held by the tharity amounted to £1.162,784 of whlch d8s1gnated funds amounted to £1.192.236 leaving a deficit on general reseNes of £29.452. It Is the obJectlv8 of the charity to achieve and maintain free res8N8s of b8tW8en 2 months and 3 months of core q)8ratlng costs. vthlch currently equates to between £154,000 and £230,OCK) and th8 Trustees acknowledge that steps are required to bring free reserves back in Ilne with thK¥ objectNe. Durfng the year to July 2024 the charity has looked closely at costs. making savings where posslble and Is making every effort to Increase numbers and, as a result, revenue, using a variety of marketing activities. Pressure on stsffing costs and the availability of staff continue to b8 challeng8s making a retum to an opwating surplus dfficulL Given this. the short tsmi target is to return the charity to a trading surplus by the 2024-25 financial year. with a medium tenn aim of achieving the free reseNes target The trustees have ass8ss8d the major risks to which the charity is expos, and are satisfied that systems are in placs to mitigate exposure to the major risks. . Plans for Futurn Poriod8 Building finanaal sustainability is a key focus of the charity with a focus on tIlding income to moet increasing staff costs. Income has increased in 2023-24 reducing the net defiL?t from 2022-23. Further ineaseS in incom8 are anticipated in 2024-25 with expectstions of reathing break even this year subject to the need for funding rate increases to offset increased salary and NIC costs from April 2025. Page 4
Dorwont stepplng Stones Nursory and Community Tralnlng Cèntrn {A company Ilmltod by guarantee) Trusts¢$' roport (eontlnued} For Ihe yaar ended 31 July 2024 Structure, governanco and managomont a. Constitution Derwent Stepping Stones Nurs8ry and Community Training Centre is based at St Mark's Road. DerfDy. is th8 compansls Registered Offic8 and principal address of the charity. Derwent stepping Stones Nursery and Community Training Centre is a company limited by guarantee and not having a share capital {Company Registration No. 2826849) and Registered Charity (No. 1024544). The charitys goveming document is the Memorandum and Artides of Assoclatlon. The trustees, who are also the directors for the purpose of company law. and who served during the period and up to the d8t8 of sign8tur8 of the financlal ststgments were: N M BamfcYd J Cordon (resigned 26 September 2024) H L Dlxon (resigned 10 November 2023) K Henshaw R M North (appointed 1 September 2024) K Puszczynska (appointed 24 March 2025) H Smlth (Chalr) {appointgd 19 December 2024) C L Thompson (resigned 10 June 2024> H M Wigglesworth {re8ign8d 1 Septsmber 2024) b. M•thod$ of appolntmgnt or eloctlon of Tru¥ts88 The sole member of the company has delegated th8 r8sponsibility of overslght of the compansls busin8SS to the Board of Trustees (the °Board") which, in tum, has delegated the responsibility for the day to day managem8nt of th8 company to the Chief Executlve. Trustees are appointed by the Management Board either to fill a casual vacancy or by way of addition to th8 Managernent Board, provided that the prescrlbed maximum is not thereby exceeded. In Gonsidering prospectivg trustees. the Management Board has regard to the requirement for a balar of specialist skills necessary for the effectiv8 managemenl of the tharity. None of the trustees has any beneficial interest in the company. c. Oryanlutlonal Structurn and decislonvmaklng pollcios The buslness of the charity Is managed by tho Management Board which consists of a Maximum of twèlve arKI a mlnimum of three trustees. Board m8mb8rs so appointed hold office until th8 followng AGM. when they become ellgibl8 for r8-818ction. Trustees are appointed by a simple rnajorlty of trustees. The operatlonal management of th8 organisation Is delegated to the Chi8f Ex8CUtrve. The ChSef Executlve works closely viith th8 Trustees on the strateglc direction and policy of the organlsatlon. Page 5
Dorwent Stspplng Stanes Nursery and Community Tr4inlng Centrè (A company Ilmltod by guarantse) Trustees, report (contlnued) For the yèar endod 31 July 2024 Structure. govomance and managomont {contlnued) d. Pollcios adopted for tho Inductlon and tralnlng of Trustoes Prospec*ive trust88s are invited to meet with the Chief Executive and Trustees and are given infonnation about the organisation. its activities, aims and objectrves and a rol8 description prior to submitting an int8rest fomi. on an indrvidual ha5 been elected to the Managem8nt Board they are given a welcome pack including, but not limited to. the Memorandum and Articles. business plan. annual report and latest published accounts. This pack fomis the basis for Ihg induGtion process. Trustees are Invited to attend training 89&8ions. workshops and cel8bratlons in order to maintsin an understanding of the organisation and to meot wlth $taff members. Reports and guidance from organlsatlons such as the Charity Commission and NCVO are reGvlarly circulated and dlscussed at Trustees Ma8tlng¥. e. Pay poll¢y for koy managoment personnel The trnstees wnsider the Management Board and th8 Chief ExeGUtive as comprising the key management personnel of the organlsation in charge of directing and controlllng the charfty and runnlng and operatlng the charity on a day to day basis. All trust88s glv8 of their time freely and no trustee remun8ration was pald In the yaar. Detsils of trustee expenses and related paty transadions are disclos8d in notes 10 and 21 respectively to th8 accounts. Truste8s ar8 requlred to disclose all r818v8nt interests and wlthdraw from d8cl$lons vthere a conflict of interest arises. It is policy to review the pay of the charitys Chief Exeujtive annually. bench-marking with charities of a similar slze and actNity to ensure that the remunerati(m set is fair and not out of line with that generally perd for simllar roles. l. Related party r8lation5hips The organisation is a wholly owned subsidiary of YMCA Derbyshire.. In so far as it is complimentary to the charitys objects. the organisation Is guided both by local and national Frf)licy. Managers of the organisation sit on relevant local steering groups to ensure that the organisation is awar8 of local initiatives and actlvlty. g. Rl$k management The Trustees, along wlth key management pèrsonnel, have conducted a review of the risks to vthich the organisation Is exposed. A risk r@gist8r has been established and. Whe approprlat8, Control systems introduced in order to mldgats thè risks. All pollcles, proCeduS and risk ass8ssmenl8 are r8vlew8d 8t least annually- Page 6
Darwont Stopplng Stonas Nursery and Communlty Tralnlng Contro (A ¢¢>mpany Ilmlted by guaranto0} Trustsas, raport (continued) For the year éndèd 31 July 2024 Structura. govornance and management (continued) h. Fundraising Pollcy statement The charity carries out minor fundraising activities throughout th8 year. These consist of events such as Bummer and Christmas fairs whldi are organised and run voluntarily by staff members and tNstees. Events are open to any member of the public and there are no entrance fees. Money Is ralsed through raffles, tombola's and gam8s. The events are regarded as opportunities to publicis8 our serrfices to potential new customers and free activltles such as fa palnting and refreshments ensure that n one has to spend moneyto b8 Included. Dlsclosure of inforniatlon to audltors Each of the trustees has confimed that there is no information of which they are aware which is relevant to th8 audit. but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant infom)ation and to establish that the auditor is aware of such information. Audltors In accordance with th8 companvs articles. a resolution proposing that Dains Audlt Llmlted be reappointed 88 auditcy of th8 company will be put at a General Meeting. Approved by order of tha members of the board of Trustees and signed on th8ir behalf by: H Smith Chair of Trustees Date: Page 7
Derwent stopplng Stonos Nursery and Communlty Tralnlng Centrn IA ¢ompany Ilmlted by guaranteo) Statement ol Trustees. responslbllltles For the year onded 31 July 2024 The Trustees (0 are also the directors of th8 Charity for the purposes of company law) are responsible for preparing the Trustees, report and the financial statements in accordanc8 With applicable law and United lfjngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial ststements for each financial yaar. Under company law, the Tmstees must not approve the financial stateThnts unless they are satisfied that thèy give a twe and fair view of the slate of affairs of the Charity and of its incoming resources and application of resourc8s. including its income and expenditure, for thai period. In preparing these financial statements, the Trustees ar8 required to: s818¢t suitable accounting pollcies and then apply them consistently; observe the rnethods and principles of the Charltles SORP (FRS 102); make judgments and accounting estimates that ar8 reasonable and prudent: stst8 whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to any material departures disclosed and explained in the finandal statements. prepare the flnanclal statements on the going concern basls unless it is inappropriate to presume that the Charity will continue In business. The Trustees are responsible for keeping adequate accounting records that are sufficiant to show and explain th8 Charitys transactions and disclose with reasonabla accuracy at any time the financial position of the Charity and enable them to ensure that the financial stat8m8nts comply the Companies Act 2006. Th8y are also reswnsible for saf8guarding the assets of the Charity and hence for taking reasonable steps for the provention and detection of fraud and other irregularities. Approved by order of the member5 of the b)ard of Trustees and signed on its behalf by. H Smlth Chalr of Trustees Date.. Page 8
Dorwent Stepplng Stone$ Nursery and Communlty Tralnlng Centre (A company Ilmftod by guarantee) Indepondont audltors, report to the Mombers of DanY•nt stepplng Stones Nursery and Community Tralnlng Centrè Opinion We have audited the financial sLitements of Derwent stepping Stones Nursery and Community Training Centre (tha 'charity) for the yBar ended 31 July 2024 comprise the Statement of financial activities. the Balance sheet, the Statement of $h flows and the related notes. induding a summary of significant accounting policies. The financial reporting framework that has been applied in théir preparatron is applicable law and Unitsd Kingdom Accnunting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United lfjngdom Generally Accepted Accounting Practice). In our opinion the financlal ststements: give a true and fair view of the stste of the charttable compan$ affairs as at 31 Juty 2024 and of Its incoming resources and application of resources. including Its income and exp8ndlture for the year then ended,. have been property prepared in accordance United lfjngdom Generally Accepted Accountlng Practlce. and have been prepared in accordanc* with th8 requlrements of the Companies Act 2006. Ba818 for oplnlon We Conducted our audtt in accordanc8 Vlith Intemational Standards on Auditing (UK) (ISA$ (UK)) and appll¢able law. Our responsibilitles under those standards are further described in the Auditors. responsibilities for the audit of the financial statem8nts sedion of our report. We are independent of the charitable company in accordance wlth the ethical requiremènts that are relevant to our audit of the financial statements in thg UniM Kingdom, induding the Financial ReKThting Council's Ethical Standard. and V have fulfild our other ethical respKmsibiltties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and approprFate to provid8 a basis for our opinion. Concluslons rnlating to golng concern In auditing the financial statements. V hav8 concluded that thè Trustees, use of the going concem basis of accounting in the Preparati of the financial stataments is appropriate. Based on the work we have perfornied. we have not identified any material uncertainties relating to events or conditions that. individually or crJl8Ctively, may cast signrficant doubt on the d)aritable Gompanys akn'lity to continue a8 8 wing con¢em for a poriod of at Jeast iwelv8 months from when the financial statements are authorlsed for issue. Our reSponsibltIeS and the responsibilit18s of the Trustees vlth respect to golng con¢8m arg described In the relevant Sections of this r8porL Pag8 9
Dorwonl Stopping StonoB Nursery and Communlty Tralnlng C•ntra (A Company Ilmlted by guarant•¢) Independent audltors. report to the Members of Derwent stepplng Stonas Nursery and Community Training Centre {continugd) Other inforniation The other infomiation comprises the information induded in the Annual report other than the financial statements and our Auditors, report Ihereon. The Trustses are responsible for the other infomiation contained within the Annual report. Our opinion on the financial statements does not cover the other infomation and, except to the extant otheThvis8 expliciUy stat8d in our report, we do not express any fom of assurance conclusion thereon. Our responsibility is to read th8 other infonnation and. in doing so, consider whether the ¢)ther infomiation is materially inconsistent wth the financial statements or our knoedge obtainèd in the course of the 8udiL or otherwise appears to be materially misstated. If we identify suth material inconsistencies or apparent material misstatements, we are required to detemiine whether this gives rise to a material misststement in thè financial ststements themselves. If. based on the bvork we have perfomied, we Gondude that ther8 is a material misstatement of this other infom)ation. wè arè required to report that fact. We have nothing to report in this regard. Oplnlon on othor mattors pregcribod by tho Companle8 Act 2006 In our op1n1, based on thè work undertak8n In th8 courne of the audtt: the inforynation given in the Truslees, r8PQrt for the financial year for which the financial statements ar8 prepared is consi5tsnt with the financial statements. the Trustees, report has b88n pr8par8d in accordance wlth appllcable18gal r8qulrem8nts. Mattèrs on whlch we are roquired to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtsined in the coursa of lh8 audit, we have not identtfied material misststements in the Trustees, report. We have nothing to report in respect of the followryng matters in relation to thich Companies Act 2006 requires us to report to you rf. in our opinion: adequate accountlng records have not been kept, or returns adequate for our audit have not b88n received from branches not visited by us". o the financial statements are not in agreement with the accounting records and retums. or certain disdosures of Trustees, r8muneratlon speclfied by law are not made; or have not received all th8 Infom8tlon and 8xplanatilMS We r8qulr8 for our audlt. or the TrusteeB were nol entitlèd to pr8par8 the flnandal stat8m8nts In accordanc8 With th8 small companl8s regime and take advantag8 of th8 small companles. 8X8ir¥)tlon8 In preparlng th8 Trust88S' IBPOrt and from the requir8m8nt to pr8pare a Strateglc report. Page 10
Denvent Stepplng Stonos Nursery and Communlty Tralning Centro (A company Ilmltod by guarantee) Indepondont audllors. report to the Members of DeNAnt stopplng Stones Nursery and Communlty Tralnlng con (continuod) Responslbllltlos of trusto08 As explained more fully In the Trustees, responsibilities statement. the Trust8es (who are also the dlrectors of th8 charrtable company for the purposes of company law) are responsible for ts preparation of the financial statements and for belng satisfied that they give a true and falr view, and for such intemal wntrol as the Trust8es detemiine is necessary to enat4e the preparation of financial statem8nts that are fr88 from material misstatement. whether due to fraud or error. In preparlng the financlal statements. the Truste98 are rosponslble for assesslng the charitable companys ablllty to contlnue as a going concem. di8closlng. as applicable. matters relatwj to golng ¢oncem and uslng the going concern basls of ac(>Juntlng unless the Trustees either intend to Ilquidate the charftable company or to cease operatlons, or have no reallstic altemative but to do 80. Audltor8' ro8ponslbllltlés for tho audlt of the Ilnanclal stat•monts Our c)jeGtives are to obtain reasonable assurance about whether the finandal statements as a who18 are free from material misstat8ffnt, Yth8ther due to fraud or error, and to issue an Auditors, report that Includes our oplnlon. Reasonable assurance is a hlgh level of assuranc8, but is not a guarante8 that an audlt wnducted In accordan¢a with ISAS (UK) will alwayB dets¢t a material mlsstatement when It exlsts. Misstatements Can arise from fraud or error and are considered material If. individually or In the aggregate, they could reasonably be expected to Inlluence the economlc decisions of users taken on th8 basis of these financlal statements. Irregularlt18s. including fraud, are Instances of nonwcomplianc8 wlth laws and regulatlons. We design procedures in line wlth our responsibilitles, ouuined above. to d8t8Ct materlal mlsststements in respect of iwularit18S. Induding fraud. The extent to whith our procedures are Capable of d8t8cting irregularities. Induding fraud Is detailed bel. Our approach to IdentlNng and assesslng the risks of matérial misstatement In respect of irregularltles, including fra1 and non-compllance with Jaws and regulatrons. was as follows: the senlor ststutory audltor ensured that the engagement team collectivety had the approprlate competenc8, ¢apabiliti@s and skllls to identlfy or recognise nonwccrfnpliance with aFplicable laws and regulatlons. we identlfied the laws and r8gul8tions appllcable to the company through discussions vélth directors and other managemenL and from our cornmercial knowledge and experlence of the sector. we focus on specific laws and regulations whlch we ¢onsidered may have a direct materlal effect on the financlal ststements or th8 operations of the company. including th8 financial reporting18glslation. Companies Act 2008, taxation leglslation, ant14)rlbery. employment. and environmental and health and safety legislation; W8 assess&J the extent of compliance with th8 laws and regulallons Identifi above thrwgh making enqulrles of managem8nt and inspeGting18gal correspond8nce", and identlfied laws and regUlaon8 were (x)mmunlcated within th8 audtt team regularty and the team ramald alert to instances of nonwcompli8nc8 throughout the audlL We assessed the susceptibillty of the companls financial statements to matsrtal misststsment. Induding obtaining an understanding of how fraud mlght occur. by. maklng enquiries of management as to where they considered there was susceptlblllty to fraud, their knowledge of actual. suspected and aNeged fraud; and considering th8 Internal o)ntrols In place to mitigate risks of fraud and non-compliance wlth laws and rewlations. Page 11
D•nvent Stèpplng Stones Nursery and Communlty Tralning Contro (A company Ilmltsd by guarant••) Independent audltor8' report to the Members of Dorwent Stspplng Stones Nursery and Community Trnlnlng Centre {contlnuod To address the risk of fraud through management bias and override of controls, we: performed ana1[car pedureS to identfy any unusual or unaxpected relationships: test8d Journal entrfes to Identlfy unusual transacticffis. assessed whether Judgements and assumptions made In determining the accounting 8Stlmat8s were Indlcatlv8 of potentlal blas,. and investigated the ratlonale behlnd slgnlficant or unusual transactlons. In response to tha rfsk of irr8gularities and non-compliance with laws and r8gulation8. we deslgned procedures which included, but Wor8 not limited to: agr8elng financlal statement disclosures to underfylng supportlng documentation: reading th8 minut8s of m88tlngs of those charged with goveman¢e; enquiring of managem8nt as to actual and potential litigatlon and clalms., and reviewing correspond8nc8 wlth HMRC. relevant regulators and th8 companys legal advisors; Because of the Inh8r8nt Ilmltatlons of an audlt, Ihere is a risk that we wlll not d8te¢t 811 IegularitIes, includlng those leading to a material mlsstatement In the financial statements or non-compllanc8 wtth regulation. Thls rfsk ine88e8 the more that compliance with a law or regulation is removed from the 8V8nts and transactions r8ifect8d in th8 financial slatsments. as we wlll b818ss Ilk8ly to become aware of instances of non-MplIan¢8. The rlsk Is also greater regarding irregularities occuThing due to fraud rather than error. as fraud Involve$ intentional conc8alm8nt, forgery, collusion, omission or misrepresentation. A further dèscrlptlon of our responsibilities for the audit of th8 flnan¢lal statements Is located on Ihe Flnanclal Reportlng Councll's webslte at.. .frc.or .ukJauditorsres nslbllltles. This description forms part of our Auditors, report. Use of our report Thls report Is made solely to the charltable companls members, as a body, in accordance with Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been und8rtak8n so that W8 mlght stale to Ihe charftable companys memb8rs those matters w8 are rèquired to stste to them In an Audltors, report and for no other purpose. To the fullest extenl pemiltted by law. we do not attept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work. for this report, or for the opinions we have formed. Jonathan Dudley (Senior 8talutory auditor) for and on behalf of Dalns Audlt Llmltsd Ststutory Auditor Chartered Accountants Suite 2, Alblon Hous8 2 Etrurfa Office Vlllag8 Forge Lane Stoke i)n Trent Staffordshlr8 ST15RQ Page 12
DOnt stepplng Stones Nursery and Communlty Tr41ning Centra (A company Ilmltod by guarantee) Statement of flnancial actlvitles Ilncorporating Income and expenditure account) Fortho yoar ended 31 July 2024 Totsl Unrestrlctsd Rostrlctod Total funds funds fund8 funds 10 months year •nded 31 year ended 31 yaar anded 31 ond•d 31 July July 2024 July 2024 July 2024 2023 Income from: Donations and18gaGigs Charitsble activities Other trading activities 40,587 291,329 12,549 40,587 786,467 12,549 51.985 587.300 11.889 495,138 Total income 344,465 495,138 839,603 651,174 Expendltur• on: Raising funds Charitable activities 399,023 495,138 894,161 746.613 Total oxponditum 399.023 495.138 894,161 751.156 Not mOVnent in funds (54.558) (54,558) (99.982) Reconcillatlon of funds: Total fijnds brought foNard Net movement In funds 14 1,217.342 (54558) 1,217,342 (54,558) 1.317,324 (99.982) Totsl funds carrled forward 14 1.162,784 1,162,7a4 1.217,342 The Statsment of flnanclal activities Indudes all gains and IoBses recognlsed in the year. All income and expenditur8 d8rtve from contlnulng activities. The notes cfi pages 17 to 34 fonn part of thes8 financial statements. Page 13
Debwent stepplng Stonas Nursary and Communlty Tralnlng Cèntre (A company Ilmited by guarantoo) R¢gi8terod number. 02826849 Balance sheet As at 31 July 2024 2024 2023 Note Flx•d as80ts Tangible assets 10 1,258M14 1.308.595 1258,414 1,308,595 Current assets Debtors Cash at bank and In hand 11 42,677 11,069 26.321 56.770 53,746 83.091 Creditors: amounts falling due within one 12 (139,703) {154.441) Net currnnt Ilabililios {85,957) {71,350) Total assets less current Ilabllltles 1,172,457 1.237,245 Credltors.. amounts falllng due after more than ona year 13 (9,673) (19.903) Net assets ex¢ludlng penslon asset 1,162,784 1,217.342 Total net assats 1,162,784 1.217,342 Charlty funds Restricted funds Unrestrtcted fvnds 14 D8slgnat8d funds General funds 14 14 1.192,236 (29.452) 1,267,891 (50.549) Total unrestricted funds 14 1.162.784 1.217.342 Total funds 1.162.784 1.217.342 Page 14
Donment Stepplng Stonos Nursery and Communlty Tralnlng Contré {A company Ilmlted by guarantse) Roglstored numbor: 02826849 Balance sheet {eontlnuod) As at 31 July 2024 The Twsteas acknowledg8 their responsibiliiies for ¢omplying wlth the requlr8ments of the Act with respect to accounting records and preparallon of financial stst8ments. The financial statements have bgen pr8pared in accordance wlth the provisions applicable to entities subject to th8 small companiés regime. The financtal statements Vre approved and authorised for Issue by th8 Trustees and signed on th8lr behalf by. H Smlth Chalr of Trustees Date: 15 5.25, The notss on pages 17 to 34 form part of these financial statsments. Page 15
Dérwent Stopplng Stones Nursery and Communlty Tralnlng Centre (A company limitod by guarantsa) Statement of cash flows For the yoar onded 31 Juty 2024 10 months ndèd 31 July 2023 Yoar andad 31 July 2024 Ca$h flows frorn operatlng actlvltlos Net cash generated froml (used in} op8ratlng actlviti88 (13,242) 9,337 Cash flows from Invostlng actlvltles Purchase of t8nglbl8 flx8d ass8ts (22,489) {9.221) Nat eash used In Investlng actlvltlos {22,469) 19.221) Cash flows from financlng actlvltl•s Repayments of borrowing (9,990) (8,142) Nel cash used In flnanclng aclivitlO8 (9,990) (8,142) Chang• In Cash and cash oqulval•nts in tho year Cash and ca¥h equiv818nts at th8 baglnning of the year (45,701) 56,770 (8,026) 64.796 Cash and cash oqulvalants at the end of the year 11,069 56,770 The notes on pages 17 to 34 fomi part of these financial ststements Page 16
Derwent Stepping Ston•s Nursory and Communlty Tralnlng Contre IA company Ilmlted by guarantoo) Notss to the flnanclal stst•ments For the year ended 31 July 2024 Gonoral Infomiatlon DeThvent Stepping Ston88 Nurs8ry and Community Tralnlng Centre is a prlvate company Ilmtted by guarantee incorporated In England and Wales. Thè r8gistered office is Derw8nt Stepping Stones. St Marks Road. Dert)y, DerbyEhlr8, DE216AH. Roportlng period Thesa finandal Statements have been prepared for the year ended 31 July 2024. The cornparatlv8 flnandal Information is for th8 10 months ended 31 July 2023. Accounting pollclos 2.1 Basls of preparallon of financlal slatsmants The financial statements have been prepared in accordance wlth th8 Charities SORP (FRS 102) - Accounting and Reportlng by Chariti88: Statement of Recommended Practlce appllcablè to charities preparing their accounts In accordance with th8 Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effe¢tlve 1 January 2019). th8 Finar181 Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companles Act 2006. Derwent Stepplng Stones Nursery and Communlty Training Centre m88ts the definition of a publlc benefit èntlty under FRS 102. Assets and Ilabilrties are initlally recognlsed at historitAI cost or transactlon value unless otheThvlse statsd in the relevant accountlng policy. The financial statements are prepared in sterflng, whlch is the fvn¢tional currency of the charity. Monetary amounts In these financial statements are rounded to the nearest £. 2.2 Golng GOnM The trustees acknowledge that sustalnability is an issue followlng the effects of the pand8mlc and current cost of living crisis and they are dos8ly monitoring thè financial situation. They have forecast cashflow for the subsequent twelv8-month period based on known factors and hlstorfcal trends. They have o)nducted a deta118d review of ovethead costs and indirect stafflng wlth the aim of minimlslng costs and maxlmlslng efflclencl8s. Direct staffing and supply of sessims Is being dosety managed to ensure that ¢hlld adult ratios and income are maxlmised. They hav8 taken. and will contlnu8 to take, advantsge of local and natronal grant support as is available. Casmlow is closely monltored and the flnanclal posttlon and forecast updat8d at each board meating. At th8 time of approving the financlal statements. tha IiiJst88s have a reasonable expectation tha( with the support of th8 parent charity, the charlty has adequate resources to continue in 0ratIonal existence for the fors8eable future. Thus the trustses continue to adopt the g)ing concem basls of accounting In preparing the financlal stst8ments. Page 17
Dorwont stepping Stones Nursery and Community Training Centre {A Company Ilmlted by guarant•e) Notes lo the flnan¢ial statements For the year ended 31 July 2024 Accountlng polldas (contlnued) 2.3 Charltablo funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable activities. Designated funds represents the net b)ok value of fixed assets that were originally funded from resthcted fvnds. but f which the restriction no long8r appli8S. Restricted funds are subject to specific conditions by donor5 as to how th8y may b8 used. The purpose5 and uses of the r85trict8d funds are set out in the notes to the financial statements. When the charity part fijnds a restricted project transfers are made from UnStrICted funds to the particular rastricted fund. Where restricted projects cease the tNstees decide whether any fund balance can be transf8Thed to unrestricted reseNes. 2.4 Incom8 All income is recognised once the Charity has entitlement to the Income. It Is probable that the income will bg receiv8d 8nd the amount of incom8 r8c8ivable can bo measured reliably. Grants are Included In the Statem8nt of finandal actlvtt18s on a receivable basis. The balance of Income recelved for specific purposes but not expended during the period Is shown In the relevant funds on th8 Balance 8h8eL Where income is received in advance of entitlement of receipt, its recognltlon is deferred and included in credFtors as deferred incomè. Wh8re entitlement occurs before income K% recelved, the Income Is accrued. oth•r Incom• Nursery fee Income Is recognised on the basis of chlld attendance. Training Income Is recognis8d when the service has been performed. Room hlre Is recognlsed on an accrual basis. Tutoring costs glven in klnd ar8 valued at comm8rclal rat8s and Induded as unrestricted income. Invesknent Income Bank interest is included in th8 incLyn8 8nd exp8nditure account on an accrual basts. 2.5 ExpondIre Expendlture is recognised once there is a legal or constructive Obligatic to transfer enOmiC benefit to a third party. it 15 probable that a transfer of e(x)niJmic benefits will be required in settlemerrt and the amount of the obligation can be measured reliably. Expenditure is dasstfied by activity. The costs of each actNity are made up of the total of direct costs and shared costs. including support costs involved in undertaking each activity. Direct costs aknbutable to a single activity are allo(xted directy to that activity. Shared (x)sts which contribute to more than one activity and support costs vthiL* 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 allocated on the portion of the asset's ExperKliture rai3ing furKls includes 811 eyndSture hcurred by the Charity to raise furKls for Its charitable purposes and indudes costs of all fundraising activitios evgnts and non-charftable trading. Expendliure on charitable activities is incurred on directy undertaklng the actlvttles which fvrther the Charitys objectives. as well as any associated support costs. Pag8 18
Derwont stopplng Stonos Nurnery and Community Tralnlng Cantre (A company limitod by guaranto0) Notes to the financlal slatomonts For tho yoar anded 31 July 2024 countlng pollcios (continued) 2.5 Exponditurn (contlnued) JI expenditure is accounted for on an acrxuals basis and has been dassifd under headings that aggregate all costs relating to the category. Where costs cannot be directy alk)cated to particular headings they have been allocated to artivities on a basis consistent with the use of resources. Govemanix costs are those incurred in connection the chaiitys compliance with constitiLtal and statutory requirements. 2.6 Tanglblo fixed assets and dopreciation Tangible fixed assets are initially recognised at cosL After recognition, under the Cost model, tangibl8 fixed assets are measured at cost less accumulated deprecian and any accumulated Impalmnt losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be induded in the measurement of cost. Depreclatkjn Is charged so as to allocato the cost of tangible fixed a$s8ts less thelr resldual valu8 over their esllmat8d useful Ilves. Depreclatlon Is provlded on the following bases: Bulldlngs FlxbJr8s and ffttlngs Office equipment 2Yo to 5 % straight line 50A to 15Yo reducin9 balanc8 - 33V• redudng balanc8 The Charity holds property at St Marks Road, Derby which was built on land owned by Derby City Council arKI leased to the Charity on a peppercom basis. The lease was entered in 2005 and was 21 year term. expiring in 2026. Th8 Trnstees have however adopted a policy to depreciate this leasehold property over a period between 20 and 50 ypars. notwithstanding that thi5 perl¢xl wll extend beyond the end of the lease tem. The depreciation period is adopted on the basis that the Trustees are advised that the occupation of the property is protected under the provisions of the 1954 Landlord and Tenants Act and the charity has the right to hold over and continue to occupy the propety on simllar temis. The building was built specrfically for th& purposes of the Charity and the Trustees therefore nSider that a depreciation pericrfl of up to 50 years is approwiate. The gain or loss arising on the disw>sal of an asset is detennined as the difference between th8 sale proceeds and the carryrig value of the asset. and is recognised in net incom81(8xp8nditiJre) for the 2.7 Impairn1ont of flxed assats At each reporting end date, the charfty revlews the carrying amounts of its tang)le assets to detemine whèther there is any indication that those assets hav8 suffer8d an impainnent loss. If any such indication exists, the recoverable amount of the asset is estimated In order to deternilne the extent of th8 impairment loss (if any). 2.8 Debtors Trade and other debtors ar8 recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade diSCnts due. Page 19
Dorwont Stepplng Stones Nursery and Community Training Contrn IA company Ilmlted by guarantaè) Notes to tho flnanclal statèments For tho year ondgd 31 Juty 2024 Accountlng pollcles Icontlnu•d) 2.9 Cash at bank and In hand Cash at bank and in hand includes cash and short-tenn hlghly Ilquld Investments with a short maturity of three mcfftths or less from the date of acqulsttion or opening of the déposit or similar account. 2.10 Finan¢i41 instrumonts The charlty has elected to apply the provisions of Sectlon 11 'Basi¢ Financial Insthjments. and Section 12 '0ther Flnanclal Instrument Issues, of FRS 102 to all of Its finan¢i81 instruments. Financial instruments are recognlsed In the chaiitys balance sheet when th8 charity becomes paty to the contractual provisicffis of the Instrument. Flnancial assets and liabilitres are offset. wlth the net amounts presented in the financlal statements, when there Is a legally enforecable right to set off the recognls8d amounts and ttre is an intention to sett18 the Ilabillty simultaneously. Baslc flnanclal assets Basic financial assets, whlch Indude debt¢xs and Cash and bank balanc8s. are Inltlally measured at tran88Ction price including transaction costs and ar8 subséquently carried at amortlsed cost uslng the effective interest method unless the arrang8ment constttutes a financing transactlon, where the transactlon Is measured at the psent value of the future recalpts dlscountéd at a markgt rats of interest. Financial assets classlfied as r8C8iV8bl8 within year are not amortised. Baslc flnanclal Ilabllltl Basic financial liabilities, induding credttors and bank loans are Inttlally re¢ognised at transaGtion price unle&8 the arrangement constrtutes a financing transaction, where th8 debt Instwment is m8asur8d at th8 pr8S8nt V81u8 of the future payments discountsd at a market rate of InteresL Flnanclal Ilabllltl8s dassffied as payabl8 wlthln one year are not amortlsed. Debt instruments are Subsequently carried at amortised cost using the effective int8r8St rat8 mèthod. Trade Credltors are obllgatlons to pay for goods or ser¥15 that have been acquired In the ordln8ry cwrse of operations from suppllers. Amounts payablé are dassified as GUTrent liabilities if Panent is due viithin one year or less. If not, they ar8 pres8nt8d as non-current Ilabllltles. Trade cyeditors are recognised initially at transaction price and subsequ8nlly measur8d at amortlsed cost uslng the effective interest method. D•rneognltlon of flnanclal Ilabllltlas Flnandal Ilabllttles are d8recognls8d when th8 charltys contrathial obllgallons expire or are discharged or cancelled. Page 20
Dorwent St•pplng Stones Nursory and Communlty Tralnlng Centre (A company Ilmlted by guarantoe) Nol•8 to the flnanclal statgmont$ For the year ended 31 July 2024 Accountlng pollcios (continu•d) 2.11 Ponslons Employ¢• b•nofrt8 Th8 cost of any unused holiday 8ntlt18m8nt Is recognlsed In the period in vthich the employee's serwlc8s ar8 re¢elved. Termination b8n8fits ar8 r8cognised immediately as an expense when the chwity is demonstrably committed to termlnato the employment of an employee or to provide temiinatlon benèfits. Retirem•nt bonefits Pawnents to defined contribution rerement benefit schemes are charged as an exp8ns8 as they fall due. 2.12 Fund aecountlng General funds are unr8strlcted funds which are availabl8 for use at th8 discr8tlon of thè Trustees in fvtherance of the general objectives of th8 Charlty and which have not been deslgnatod for olher purposes. Designated funds comprise unrestrict8d funds that hav8 been set aside by the Trustees for partlwlar purposes. The aim and use of 8ach deslgnated fund is set out in the notes to the financial ststements. Restricted funds are funds whlch are to be used in acccrdanc8 wlth sp8clflc roStrf¢tlons Impostrj by donors or vthlch have be8n ralsed by the Charity for particular purposes. Th8 costs of raising and administering such funds are charged against the specific fund. The aim and us8 of each restricted fund Is set out in the notes to the financial statements. Page 21
D•rw8nt Stopplng Stones Nursory and Communlty Tralnlng Centre (A company Ilmited by guarantoo} Notes to the flnanclal statèm•nts For the yoarended 31 July 2024 Incom• from donatlons and legacles Unrèstrlcted funds 2024 Total funds 2024 Donatlons 40.587 40.587 Unra8trl¢ted Total funds funds 10 M•th$ 10 months ended 31 ended 31 July 2023 July 2023 Donations 51,984 51,984 Income from charftable actlvltles Unrostrl¢ted Restrlcted fund5 funds 2024 2024 Total funds 2024 Local authority grants & nursery fees Other training costs 223,714 67,615 495.138 718,852 67.615 291,329 495.138 786,467 Unrestricted Rostrlcted Total funds funds fund$ 10 month 10 month 10 month perlod perlod pgriod énded 2023 endod 2023 ended 2023 Local authority grants & nursery fees Other tralning cost$ 169.694 36.038 381,568 551.262 36,038 205.732 381,568 587,300 Page 22
Dwwont Stspplng Ston•s Nurs•ry and Communlty Tralnlng C•nlre (A company Ilmltad by guaranteg) Notss to tho financlal statements For the year ended 31 July 2024 Incomo from othor tradlng actfvltles Unro8trlGted funds 2024 Total funds 2024 Trading activity income 12.549 12,549 Unrg$trictod funds 10 months ended 31 Juty 2023 Total funds 10 months
nd 31
Juty 2023 Trading activity income 11.889 11.889 Expondlturo on ralslng fund8 Fundraiging tradlng exponses Total funds 2024 Staff Costs Other costs Page 23
Derwont Stopplng Stones Nursery and Communlty Training Contro (A company Ilmlted by guaranto0) Notes to tho flnanclal statements For the year ended 31 July 2024 Expendlturn on ralslng funds (contlnued) Fundralslng trading •xp•nges {contlnuad) Unrostrlctèd Total funds funds 10 months 10 months ended 31 ended 31 July 2023 July 2023 Staff costs Other costs 960 3,583 3.583 4.543 Analysls of oxpondlture by adlvilles Activltlos undortaken dlre¢tly 2024 Support costs 2024 Total funds 2024 Expenditure on L*aritsbl8 8Ctivitig8 686,821 207,340 894,161 Activiti03 undortakon Support Total dlroctly costs fvnds 10 months 10 months 10 months endod 31 endèd 31 onded 31 July 2023 July 2023 July 2023 Expendlture on tharitable actlvltles 562,807 183.805 746,612 Page 24
Darwènt stapplng Stanès Nursèry and Community Training Cèntra (A company Ilmltèd by guarantè8) Notos to tho flnancial statements For the year onded 31 Juty 2024 Analysis of oxporbdituro by activiti09 (conlinuod) Analysls of dlrect costs Total funds 2024 Dlroct costs 2024 staff costs 521,135 75.655 29.051 13.610 242 521,135 74655 29.051 13,610 242 3.149 15.606 5,033 23.340 Depreciation Other staff costs Creche, food. trips and other costs Motor and travelling Training and exam costs Priniting, stationery, telephon8 and a(fvertlsing Professional fees Equipment repairs and maintenance 3,149 15,606 5.033 23.340 686,821 686,821 Total Dlroct costs funds 10 months 10 months onded 31 ended 31 July 2023 Juty 2023 Staff costs 386.108 57,843 75.624 12.585 48 2,384 12.587 2,142 13,506 386,108 57,843 75.624 12.565 48 D8pr8ciationfimpaimi8nt charge Staff costs Creche. food. trips and other costs Motor and trav8lling Tralning and exam costs Priniting. stati(m8ry, t81ephon8 and adv8rtlsing Professicmal fees Equipment repairs and maintenance 12,587 2.142 13.506 562.807 562.807 Page 25
Derwènt stepplng Stonos Nursery and Communlty Tralnlng Contro (A company limit•d by guarantso) N<)tos to tho financlal statements For tho year ondod 31 July 2024 Analys18 of expondlturn by aethiltles (contlnuod) Anatysh of support costs Support costs 2024 Total funds 2024 staff costs Rent, rates and Insurance Heat 8nd Light Office running costs Bank charges Repairs and maintenance Loan Interest 106,927 31,920 20,167 24.033 1,842 11,346 5.105 6.OIXI 106,927 31,920 20,167 24.033 11,346 5,105 6,000 Governance costs 207.340 207,340 Support Total costs lunds 10 months 10 months endod 31 ended 31 July 2023 July 2023 Stsff costs Rent, rates and Insurance Heat and Light Office running costs Bank charges Repalrs and maintenance Loan Interest Govem8n¢e costs 66,483 20,829 10,044 16,291 2,284 13,484 789 53,802 68.483 20,629 10.044 16,291 2,284 13.484 53,802 183,806 183,806 Page 26
Darnt Stopping Stonos Nursory and Community Tralnlng Contro (A company Ilmltod by guarantee) NotOS to the flnanclal stabmonts For tho year onded 31 July 2024 Staff costs 10 months •nd•d 31 Juty 2023 2024 Wages and salaries Social security Costs Contrlbutlon to defined contribution p8nslon schem88 571,062 34112 22,888 419,372 20.103 13.116 628.062 452,591 During the year. the tharfty paid £nil redundancy pasThent to any employee (2023.. £13,989). Th8 average numb8r of per50Ds employed by the Charity during the year was as follows- 10 months onded 31 July 2023 No. 2024 No. Charitable activities Goveman¢8 35 36 No employee r8C8iV8d remuneration amunting to mor8 than £60.000 in eith8r y8ar. The key management personnel of th8 charity comprised the Chlef Executive Officer. The total amount of employe8 benefits re¢elv8d by the key management personnel w8r6 £81.486 (2023 - £54,828). Trust•os' romunoration and penSeS Dumg the year, no Trustees received any r8mun8ration or other benefits (2023 - £NIL). Durfng the y8ar ended 31 July 2024, no Trustee expenses have been Incurred (2023 - £NIL). Page 27
Derwent stopping Stones Nursery and C<)mmunlty Tralnlng Centre (A company Ilmlted by guarantee) Notes 1¢ the flnanclal statom•nts For the ygar ondod 31 July 2024 10. Tanglblo flxed assets Flxturos and flttlngs Bulldlngs aqulpment Total Cost or valuatlon At 1 August 2023 Additions 2,830,434 71,1)06 31,406 2.932,846 At 31 July2024 2,830,434 93h75 31A06 2.955,315 Deprnclatlon At 1 August 2023 Chargg for tho year 1,558,390 65.100 46,178 19.683 5,090 1,624251 At 31 July 2024 1,623,490 48,638 24,773 1,696,901 N•t book valuo At 31 Juty 2024 1,206,944 44,837 8.633 1,258,414 At 31 July 2023 1,272,1144 24.828 11.723 1,308.595 11. Dobtors 2024 2023 Due thin one year Trad8 d8btors Other debtors Prap8y7nent$ and 8ccxuèd Incom8 19,968 11.364 11,345 9,587 6.762 9,972 42,677 28,321 Page 28
Derw•nt Stepplng Stones Nursery and Community Tralnlng Cen IA ¢tynpany limitod by guarantse) Notes to the flnancial statsments For tho yoar ended 31 Juty 2024 12. Credltors: Amounts falllng duo wlthin one year 2024 2023 Bank108ns Trad8 cr8ditors Amounts owed to group undertakings Other taxation and social security other (Trditors Accruals and def8rred inrne 11,079 4,368 89,876 10,839 5.284 103,429 3.049 2.770 29.070 10,703 23,678 139,703 154,441 The charity has a bank loan comprising a 2.5% fixed rate loan totalllng £50,000 repayable by equal instslments by June 2026, followlng an inital 12 month capital repayment hollday until July 2021. 13. Cr¢dftors: Amounts falllng duo aftor morn than one year 2024 2023 Bank loans 9,673 19,903 The Gharity has a bank loan comprising a 2.5% e rate loan totalling £50.000 repayable by equal instalments by June 2026. folloryng an inltal 12 month capital ropayment holiday untll July 2021. Page 29
DorTht Stepplng Stones Nurs•ry and Communlty Tralnlng Centre (A company Ilmlted by guarantsa) Noles to the financlal statèments For the year anded 31 Juty 2024 14. Statement of funds statement of funds - current yoar Balance at I August 2023 Balance at Income Expendlturo 31 July 2024 Unrgstrlctod funds Deslgnated funds Fixed asset fund 1.267,891 175,655) 1,192.236 Genoral funds Unrestrlcted funds {60,549) 344.465 (323,368) (29,452) Total Unrestrl¢ted funds 1,217,342 344,465 (399.023) 1,161784 Restrlctad funds Local authority grants 495,138 1495,138} Total of funds 1.217,342 839,603 (894.161) 1,162,784 Page 30
Derwont stopplng Stones Nursory and Communlty Tralnlng Centre (A company lim11 by guarantsp) Not•s to the financlal statements Fw the year ended 31 July 2024 1& SL*ment of funds {continued) statsmont of funds- prlor perjod Balan¢e at 1 October 2022 Balanco at Income Expondlture 30 July 2023 unr•8tr1ct funds Doslgnated funds Flx8d asset fund 1,325,n5 (57,843) 1,267,892 Gonoral funds Unrestrfcted fund8 (8.410) 269.605 (311.745) {50.550) Total unrtrIcted funds 1,317.325 269.605 (369.588} 1217.342 R•strlctsd funds Local authority grants Department of Education uY8nts 374.668 6,900 (374,668) (6.900) 381.568 (381.568) Total of funds 1,317.325 651.173 1751.156) 1,217.342 Page 31
Dèrwent Stèpplng Stones Nursery and Communlty Tralnlng Contrn (A company Ilmltod by guarantee) Notss to th• financlal statements For tho year èndad 31 July 2024 15. Anatysis of net assets belOn funds Analysls of nel assets botwoon funds - curr•nt p•rlod Unrnstrlctèd tund5 2024 Total funds 2024 Tangibl8 fixed assets Current assets Creditors due within one year Creditors due in more than on8 year 1,258.414 1,258,414 53,746 53,746 (139,703) {139,703) 19.673) (9,673) Total 1,182.784 1,162,784 Ana1$ of net assets botweèn fund$ - prior perlod Unrostrictod funds 2023 Total funds 2023 Tangible fixed assets CuThent assets Creditors due within one year Credltors duo In more than one 8T 1.308.595 1.308.595 83.091 83.091 (154.441) {154,441) {19,903) (19,903) Total 1,217,342 1,217,342 16. Reconciliation of not movement In funds to not cash flow from operallng actlvltles 2024 2023 Net expendiiure for the p8rfod (as p8r Statem8nt of Fiiancial Activities} (54,558) (99,982) Adjustmgnts for. Depreclatlon charges Increase in debtors InEase1{deCrease) in creditors 72,650 {18,656) (12,678) 59.875 (1,435) 50.880 Not cash providod byl{used In) operatlng aclivllle$ 113,242) 9.338 Page 32
Derwent stepplng Stonos Nursory and Communlty Training Cèntre {A company limltod by guarantee) Not0$ to tho flnanclal statements For thè year •nded 31 July 2024 17. Anatysl$ of cash and cash oquivalents 2024 2023 Cash in hand 11,069 56,770 Total cash and cash equivalont8 11,069 56,770 18. Analysis of changes In nat debt Othor non- cash At 31 July changes 2024 At 1 August 2023 Cash flows Cash at bank and in hand Debt due within 1 ar Debt due after 1 year 56,770 (10,839) (19.903) (4S.701) 11,069 (11.079) (9,673) (240) 9,990 26,028 {35,711} (9.683) 19. Oporatlng16a80 commitmgnts At 31 July 2024 the Charlty had Mmitments to make future Minimum lease paynents under non- cancellable operating18asas as follows: 2024 2023 Not latsr than 1 year Later than 1 year and not later than 6 years 3,060 18.360 3,060 3,060 21.420 20. R•lated party tran8action$ Durlng the year, the Gharlty received in aggr8gate donations amounting to £40,000 from related partles (2023: £nil). Djmg the year YMCA DerbyEhlre provlded an additional loan of £45.OCrf) (2023: £50,000) and the totsl amount outstanding at 31 July 2024 was £95.000. Interest charges separately made were £4.464 (2023: £374). At 31 July 2024, th8r8 was amount of £5,125 (2023: £nll) owed by YMCA DeyShIre. In the prior year, YMCA Derbyshlr8 provided £50.000 of management 8erviés and £3,055 of Operating related 8ervices.The total amount owed as at 31 July 2024 to YMCA DoyShiro by the Charity was £89.875 (2023: £103,429). Page 33
DOnt stepplng Stones Nursory and Communlty Tralnlng Contre (A company Ilmlted by guaranto0} Not•s to th• flnanclal statomentg For the year ended 31 July 2024 Controlllng party The ultimate o)ntrolling party is YMCA DerbyBhlre as the sole member of the Charlty. Page 34