2023-12-31-accounts

Oosls Chlldcqre Centre Ludgvan Community Childcare Centre Limited Registered Charity Number 1057410 Registered Company Number 3180353 Trustees, Report and Financial Statements 3 1st December 2023 Charity Reg.. 1057410 Ofsted Reg.. Ludgvan 103172, Marazion 2496718 Company Reg.. 03180353

CONTENTS Page Trustees, report Reference and administrative details Structur¢, governance and management Objectives and activities Review of achievements public benefit for the year Financial review and results for the year Reserves policy 12 Investment policy 12 Plans for future years 13 Statement of Trustees, responsibilities 14 Ststement of disclosure to examiner 15 Independent Examiner's report 16 Statement of financial activities 17 Balance sheet 18 Statement of cash flows 19 Notes to the fmancial statements 20-28

TRUSTEES, REPORT For the year to 31st December 2023 The trustees are pleas¢d to present their report together with the financial statements of Ludgvan Community Childcare Centre Ltd ("Oasis") for the year to 31" December 2023 and can conf￿￿ that the latter comply with the requircmcnts of the Charities SORP (FRS 102). The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing th¢ir accounts in accordance wkth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).,

Refei'ence and Administrative Details Registercd name Charity registration number Company registration number Ofsted registration numbers Ludgvan Community Childcare Centre Limited 1057410 03180353 103172 (Ludgvan) 2496718 (Marazion) Trustees The Trustees at 31 December 2023 Zoe Curnow Mark Fletcher Juliette George Joanne Laity Rev Canon Nigel Marns Sarah Oliver Caroline Peers Richard Sargeant Linda Taylor Lorna Trudgeon There are no committees or subcommittees of the Trustees. Senior Management Team Senior Centre Manager Senior Deputy Manager Senior Deputy Manager Lorna Trudgeon Juliette George Briony Sedgeman The principal and operating address of the charity: The Oasis Childcare Centre. Lower Quarters, Ludgvan, Penzance, Cornwall TR20 8EX www.oasischildcare.org.uk

Bankers Barcloys, 819 Market Jew Street, Penzance, Cornwall TR18 2TN. HSBC l Greenmarket. Penzance, Cornwall TR18 2SD. Independent Examiner Neil Hallam FCCA Crane & Johp7Ston Chartered Certified Accountants I l Alverton Terrace, Pcnzance, Comwall TR18 4JH. Solicitors Tozers Broadwalk House, Southernhay West. Exeter, Devon EXI IUA

Structiire, Governance and Management Governing Instrument The charity, which is a company limited by guarantee, is governcd by its Memorandum of Association and Articles amended 2. May 2013. Recruitment and induction of trustees As set out in the Articles of Association, the management committee consists of not less than five or more than twelve persons, all of whom are trustees. Following a skills audit, trustees are sought whose skills, knowledgc and experience are relevant to the administration of the charity and complement the skills of the existing trustees. Trustees are nominated and elected arAnually by the members of the charitable company attending the Annual General Meeting and serve for a period of three years. New trustees must be appointed by resolution at a properly convened meeting of the charity trustees. Trustees on appointment are given: A copy of the Charity Commission's publication "The Essential Trustee: What you need to know" A copy of 'Keeping Children Safe in Education, A copy of the company's latest Trustees, Annual Report and ststement of Accounts A copy of the minutes of recent meetings A copy of 'Oasis Management Committee Info, Current year's action plans They are then given a tour of the centres and meet the management team. Trustees are also encouraged to attend appropriate external training courses where these will facilitate the undertaking of their role, particularly including safeguarding and Keeping Safe in Education. Organisation The trustees work as a management committee to forn]ulate policy and arc responsible for the administration of the charity. Operational control is delegated to the Senior Centre Manager. The rest of the managcmcnt team report to her.

Risk Management The trustees have assessed the major risks to which Oasis is currently exposed, in particular those relating to its finances and its operations (including health and safety) and they are satisfied that systems are in place to monitor and mitigate Oasis, exposure to such risks. They are also satisfied that a robust procedure is in placc for identifying and evaluating the risks associated with new areas of activity. All policies are reviewed annually by the Senior Centre Manager in consultation with parents, staff and trustecs. The most significant risks identified in 2023 are: Continuing to be able to offer an outstanding level of learrLing and opportunities to all children in our centres given the financial constraints inherent within early years education at the current time. Continuing to generating sufficient income to meet the rising costs due to the increase in National Living Wage and overhead costs given a substantial proportion of income is grnnt funding. Loss or com]ption of IT data.

Objectives & Activities Charitable objects The objects of the charity are to: Advance thc education of children from the age of three months to fourteen years old, through the provision of safe and stimulating play and recreation facilities. Provide Childcare Centres to promote th¢ benefit of the inhabitants of west Cornwall by the provision of facilities in the interests of social welfare for the recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants. The trustees are granted wid¢ powers to achieve these objects, which are set out in the Articles. Inter alia these relate to: Purchase, lease or acquire property Manage education establishments Receive donations towards promotion of the objects Borrow money Aims and intended impact In outline, the aims of Oasis are to value all children as unique individuals. We endeavour to provide a safe, stimulating learning environment that promotes the concept of 'lifelong learning, and enables children to learn and develop to their full potential. We foster a love of learning for all. encouraging adults and children to work together and develop a sense of wonder, excitement and enthusiasm through different learning experiences. We strive to generate and retain sufficient funds to achieve our aims in a sustainable manner. Objectives for the year The objectives for the year were to continue working towards achievement of the charity's aims.

Strategies to achieve the year's objecttves Two centres were operated. a year-round centre in Ludgvan and a terni time only centre in Marazion. Promotion of the provision was arranged to attract sufficient families to the centres. Funding was secured for all children who were entitled to receive funded childcare. A programme of repairs and developments was carried through. Phased budgets were set to monitor ac]]ievcm¢nt month by month. Principal activities of the year The principal activities of Oasis were to: a) Provide high quality childcare and education to all children in both centres. b) Ensure transitÈon for all children is as smooth as possible, both within the age groups in the centrcs and also when they move on from our centres into local primary schools. c) Provide support to the wider families engaged in the centres. d) Recruit and train sufficient staff to operate the centres to the highest possible quality. Work with the Cornwall Early Years team to promote best practice in other nurseries across Cornwall. Revenue came from funding from the government and fees charged to parents. Accountants A resolution to appoint Crane & Johnston Chartered Certified Accountants as reporting accountants will be proposed at the AGM.

Revieiv of Achievements & Publlc Benefit for 2023 The trustees have referred to the Charity Conunission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education when reviewing the aims and objectives and in planning future activities. During 2023 outstanding opportunities continued to be provided to promote a high-quality learning culture. Numbers of children on roll, across the age ranges, are excellent and we continue to grow from strength to strength (Ludgvan role 202, Marazion role 59). More importantly we continue to maintain our outstanding quality of care and education and therefore provide improved outcomes for the chÈldren that attend Oasis. Sadly we currently have a large nurnber of families on our waitÉng lists for both settings. We are supporting as many families as possible to consider places at both Marazion and Ludgvan Oasis Centres. As Oasis continues to strive to improve, many changes have takeD place in the last 12 months. Key achievements during 2023 were: Provision of Forest school sessions across both centres led by a company called Heart of the Woods based in Cubit Woods in Carbis Bay. All activities were linked to the Early Years Foundation Stage (EYFS) Framework, with a focus on well-being through a nature-based learning environment, promoting social interactions, developing life skills, making choices and child-led play and exploration. Children were given opportunities to participate in real-life experiences and encounter wildlife, which provided inspirational Icarning opportunities and memories. These l¢arning experiences were also linked to the Oasis onsite growing project and the children's individual interest. 2. Regular music and dance sessions were held with MADE to enable all children across the age ranges, across both centres, to explore the arts including a visit to the Minack Theatre for both centres. 3. Monthly visits with Canon Nigel to share stories, support children's personal and social development, increasing their understanding of the world in which we live and develop their communication and language skills through singing. 4, Members of the management team have continued to work alongside Ludgvan School and other local Primary Schools to fully embed Read, Write, Inc. phonics training. 5. Management staff have also worked closely with many Reception Class teachers from different schools to observe their sessions. reflect upon/monitor practice. This enabled constructive feedback to ensure everyone is working together to build solid foundations from which the children will continue to learn and develop their skills and to support the children with early literacy skills. These training opportunities have been truly inspirational in supporting staffs confidence to better support children's early reading skills. 6. Leading the way, 2023 has been another successful year for Oasis in gaining 'The Seven Steps to Gre¢n Flag Success, to achieve Eco Friendly Status across both settings. We held an Eco staff mccting and established an Eco Committee that consists of staff, children, and con]munity

volunteers. The Eco Committe¢ worked together to conduct an Environmental Review of our settings and to compile an Action Plan of new activities, procedures, and practices to introduce andlor work towards to promote the impact of climate change as part of our CU￿1culllrn. 7. The Oasis Manager securcd a role with the Department of Education 'Expert Role, as part of the governments 'DfE early years COVID-19 recovery programme, which offers leadership support, coaching and mentoring to other settings. This was also an opportLmity for the Manager to grow and develop her own practice and role. 8. Oasis has continued to embed effective systems for supervision across both centres with continuous professional dcv¢lopment for all staff enhanced. 9. The Oasis Manager continued to volunteer time to work alongside other educational providers to enhance outcomes for children and their families such as home-learning strategies, free- flow, parental involvement, Ofsted readiness, providing a rich learning environment to promote communication, committee roles and responsibilities, funding, safeguarding procedures. implementing changes in legislation, staff recruitmentlinterviews, cohort tracking, policies and procedures, learning and development, outdoor play, observation. assessment and planning, transition and learning journals, developing a qualified workforce, SEN Provision and support, funding grants, finances and improving upon sustainability. l O. A library has been created in the reception area of the Ludgvan Centre. It is continually used by children and their families. A similar space is planned for the Marazion Centre in 2024. 10

Financial review and results for the year a) The detailed results are set out on pages 17 to 28 and show net movement in funds for the year of £57,120 (2022.. £34, 769, 2021.. £8,506). b) Income from charitable activities was £811,332 against £680.571 in 2022. c) During 2023, £755,635 (2022.. £643, 882) was spcnt dclivering the charitable activities. As in previous years, the majority (79 % in 2023, 80 % in 2022) of this was spent on wages. Thcre is full detail of this expenditure on page 24. d) The trustees conflrni the availability of assets to fulfil the obligations of the charity without recourse to bO￿owing. e) Donations including match funding totalled £3,002 (2022.. £4, 488). The trustees thank those who made donations or fund raised on behalf of Oasis in 2023 and particularly thank the whole staff team who did the sponsored walk in December.

Reserves policy All Oasis, income has been used in pursuance of its objectives as set out above. Reserves retained in cash and cash equivalents at the year-end are required to manag¢ the cash flow needs of Oasis over a year and to cover unexpected expenditure. It is the trustees, view that it is prudent to ensure that there are sufficient rcserv¢s to cover at least three months running costs which are approximately £200,000. Unrestricted funds at 31, December 2023 were £212,239 (2022.. £155, 119). The trustees plan to maintain this reserve in line with infiation at an appropriate rate for the charity. This will be mainly driven by the infiationary increase in the National Living Wage which was 9.8 % from 2022 to 2023. The trustees have reviewed the circumstances of Oasis and consider that adequate resources continue to be available to fund the activities. Investment policy The trustees are entitled to place funds in any kind of investments that they see fit. The current policy of the trustees is to hold surplus funds on short tenn deposit, applying the income generated to charitable purposes for which the funds are intended. Investments generated £20 (2022.. £31) interest receivable for the year. 12

Plans for fiitiire years Oasis plans to continue to provide a safe, stimulating learning environment that promotes the concept of 'lifelong learning, and enables children to learn and develop to their full potential. Specifically, the centr¢s will: Work towards reconunendations from Trustee monitoring visits to further develop parent partnerships, transition, safeguarding, special educational needs and learning and development. 2. Continue to network and provide support for other Early Years settings in the immediate and wider community, particularly those who are struggling fmancially. 3. Work towards becoming an accredited training centre to support and share practice with other professionals. 4. Work alongside Cornwall Council and Truro and Penwith College to share good practice to support other Early Years scttings in the imrnediate and wider comjnunity. Work closely with Ludgvan School to support with the development of Ludgvan Community Centre and to explore possible options for the future use of the venue, such as training events, fundraising events, Christmas perforn]ances, special events/celebrations, parent groups, and development of a community hub. 6. Continue to effectively embed updates in legislation and welfare requirements. Amend policies, procedures. and practice in line with changes in legislation. 7. Continue to support vulnerable children and their families within our local and wider community. 8. Continue to attend specific training to support individual needs of children and families who attend the settings. Create a library in the reception area of both setting to include a wide range of books across the age ranges to enable parents to freely choose books on a daily basis with their child. l O. Continue to adapt the outdoor play area in line with the children's interests and needs. I l. Support staff in their fundraising efforts to support the setting financially and to also create new staff challenges to positively impact upon staff bonding and well-being. 12. Continue thinking outside the box to access a wide range of free equipment and resources to support the children's learning and development and maintain a sustainable setting. 13. Operate in a financially sustainablc way to protect the charity in future years. 13

Statement of Trustees, responsibilities The trustees, who are also the directors of Ludgvan Community Childcare Centre Ltd for the purposes of company law. are responsible for preparing the Trustees, Report and thc financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year. Under company law, th¢ trustees must not approve the financial statements unless they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditur¢, of the clwitable company for that year. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently. - observe the methods and principles in the Charities SORP 2019 (FRS 102). - make judgements and estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the fu￿nCIal position of the charity and enable them to ensure that the fmancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 14

Statement of disclosure to examiner So far as the trustees are aware, there is no relevant inforniation of which the charity's independent examiner is unaware. Additionally, the trustees hav¢ taken all the necessary steps that they ought to have taken as trustees in order to make themselves aware of all relevant information and to establish that the charity's independent examiner arc aware of that information. By order of the trustees:_ Zoe Curnow For and on behalf of the trustees The Oasis ChiIdcare Centre, Lower Quarters, Ludgvan, Penzance, Cornwall TR20 8EX 4 July 2024 15

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LUDGVAN COMMUNITY CHILDCARE CENTRE LIMITED I report to the charity trustees on my examination of the accounts of the company for the year ended st 31 December 2023 which are set out on pages 17 to 28. Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carricd out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the company, s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 201 l Act. I confirm that l am qualified to urAdertake the examination because I atn a membcr of the Association of Chartered Certified Accountants in England and Wales which is one of the listed bodies. I have completed my examination. I confirn] that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or the accounts do not accord with those records" or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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. or the accounts have not been prepared in accordanc¢ with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Neil Hallam FCCA Crane & Johnston I l Alverton Terrace, Penzance TRI 8 4JH th 18 July 2024

STATEMENT OF FINANCIAL ACTIVITIES Incoiporatinir tlie inconie 1c nd eipenditiii"e account fr'or the year elided J I, Deceinbei. 202J 2023 2022 Unrestricted Restricted Total Total Income and endowments from: Not¢ Cbaritable activities Donations and legacies 811.332 3,002 811,332 3,002 680,571 4,488 814,334 814,334 685,059 tnvestment income 20 20 Other income 2,648 2,648 Total 817.002 817,002 685,090 Expenditure on: Charitable activities Charitable activities Governance 755,635 4,247 755,635 4.247 643.882 6,439 Total 759,882 759,882 650.321 Net income for year 57.120 57,120 34,769 Transfers between funds Net movement in funds 57,120 57,120 34,769 Total funds brought foTward 155,119 155,119 120,350 Total funds carried forward 212,239 212,239 155,119 5t There were no acquisitions or discontinued activities in the year to 31 December 2023 or the year to 31" December 2022. The charity has no recognised gains OT losses in the year other than the net income &s shown above.

BALANCE SHEET 1131 Dec'enibei. 2023 2023 2022 Fixed assets Tangible assets Iyote 14 Current assets Debtors C&sh in hand and at bank 15 36,330 197.313 25.992 144,088 233,643 170,080 Creditors Amounts falling due within one y 16 (21.404) (14,961) Net current assets 212.239 155,119 Total assets less current liabilities 212,239 155,119 Funds Designated capital fund Unrestricted gen￿al fijnd 18 212,239 155,119 Total funds 212,239 155,119 The company is entitled to the exernption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2023. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the fllyancial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. The members have not required the company to obtain an audit of its fmancial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These fmancial statements were approved and authorised for issue by the Trustees on 4 July 2024. Zoe Curnoiy For and on behalf of the Trustees Company number: 03180353

STATEMENT OF CASH FLOWS cil 31 DecembL'I' 2023 2023 2022 Cash flow from operaling activities 53,205 38,399 Cash flow from investing activitie5 Investhient income 20 31 20 31 Net ehange in cash and Cash equivalents 53,225 38,430 Cash and cash equivalenls at the start of the year 144,088 105,658 Cash and cash equivalents at the end of the year 197.313 144.088 Reconciliation of net income to casb flow from operating activities 2023 2022 Net income for the year 57,120 34,769 Adjusted for: Fixed asset depreclation Investment income 204 (20) (10.338) (31) (1,710) 5,167 Movement in debtors Movement in creditors 6,443 Cash flow from operating activities 53.205 38,399 19

NOTES (fui"177in(T pLiI'I uf ihefincincicil slalemenls) Summary of significant accounting policies l. l General information and basis ofprepara¢ion The Ludgvan Community Childcare Centre Limited is a company limited by guarantee and a charity, registered in England. The address of the registered offLC¢ is given in the charity information on page 3 of thesc financial statements. The nature of the company's operations and principal activities are outlined on pages 7 and 8. The company constitutcs a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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), the Charities Act 2011 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 1.2 Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are grants that are given for a specific project. 1. 3 Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the company is legally entitled to the income after any perforniance conditions have been met. the amount can be measured reliably and it is probable that the income will be received. For donations to be recognlsed the company will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of perforniance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the company has control over the item. Fair value is deterniined on the basis of the value of the gift to the company. For cxample the amount the company would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). 20

The company receives government ￿allt5 towards its core charitable activity. Investment income is earned through holding assets for investment purposes. It includes interest. Interest income is recognised using the effective interest method. Other income includes income from the feed in tariff on solar panels. 1. 4 Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised wherc there is a legal or constructive oblÈgation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. 1. 5 Support costs allocation Support costs are those that assist the work of the COTnpany, but do not directly represent charitable activities and include office costs, governance costs and administrative payroll costs. They are incurred directly in support of expenditurc on the objects of the company. Where support costs cannot bc directly attributed to particular headings they have been allocated to cost of raising fijnds and ¢xpenditure on charitabl¢ activities on a basis consistent with use of the resources. 1. 6 Tangiblefixed assets Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairn]ent losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cosL less estimated residual value, of each asset on a systematic basis over its expected useful life. All assets are currently depreciated over four y¢ars. 1. 7 Investments Cu￿ent asset investments are short terni highly liquid investments and are held at fair value. These include cash on deposit. 1. 8 Debtors and creditors receivable /payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in expenditure. 1. 9 Impairment Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss. I. 10 Provisions Provisions are recogniscd when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. l. 11 Leases Assets acquircd under fmance leases are capitslised and depreciated over the shorter of the lease temi and the expected useful life of the asset. Minimum lease payments are 21

apportioned between the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of ￿tUre finance charges, are included in creditors. Rentals payable and receivable under opcrating leases are charged to the SOFA on a straight line basis ovcr th¢ period of the lease. 1. 12 Employee benefits When employees have rendered service to the company, short-terni employc¢ benefits to which the employees are entitled are recognised at thc undiscounted amount expected to be paid in exchange for that service. The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. 1.13 TcLr The company is a registered charity and is exempt from corporation tax. 1. 14 Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 1. 15 Judgements and key sources ofestimation uncertainty In the application of the company's accounting policies, the trustees are required to make judgemcnts, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised where the revision only affects that year, or in the year of the revision and future years where the revision affects both current and future years. 22

Income from charitable activities 2023 2022 Total Unrestricted Restricted Total Fees for child(2re provision Funding for core provision Grant Funding: Job Retention Sthane 454,313 357.019 454,313 357,019 332,932 346,811 828 811,332 811.332 680,571 2022 680,571 680,571 Income from donations and fundraising 2023 Total 2022 Unrtstricted Donations Fundraising 119 2,883 73 4,415 3,002 4,488 Investment income 2023 Total 2022 Unr&trKcted Bank interest 20 31 20 Other income 2023 2022 Totsl Unrestricted Income from feed in tsriff 2.225 423 Sundry income 2.648 23

Expenditure on charitable activities 2023 2022 Total Un ￿tricted Restricted Tolal Wages Training Dkrect costs of providing childcare Repairs and maintenance Utilities 596,946 2,516 48.443 51,854 16,281 5.065 14,794 60 6,748 4,630 4,434 169 3,695 596.946 2,516 48.443 51,854 16,281 5,065 14,794 60 6.748 4,630 4,434 169 3,695 515,472 1,839 41,521 33,075 12,623 6,788 14,816 73 5,905 4,352 3,754 205 3,255 204 Cleoning Advertising Insurdnce Telephone and broadband Stationery and postage Bank charges Miscelloneous Depreciation 755,635 755,635 643,882 2022 fv13,882 643,882 Governance costs 2023 Total 2022 Unrestricted Legal & Profrssional Independent ex￿InatIon 2,447 1.800 4,219 2.220 4.247 6.439 24

Net ineome for the year This is stated after charging: 2023 Total 2022 Total Independent examination Depreciation 1,800 2,220 204 Analysis of staff costs and the cost of key management personnel The average number of employees in 2023 was 29 (2022.. 29). There were no employees whose total remuneration exceeded £60,000 during the reporting year (2022.. ni4. 2023 2022 Wages Social security costs Pension costs 546,292 35,111 15,543 481,078 21.021 13,373 596,946 515.472 The charity contributes to a defined contribution pension scheme. The pensÉon cost charge for the year rcpresents contributions payable by the charity to the fund and amounted to £15,543 (2022.. £13, 3 73). There were no outstanding contributions at the year-end (2022.. niD. The total employee benefits of key management personnel for the group was £127,571 (2022. £142,267). 10. Trustee remuneration and expenses Two Trustees, Lorna Trudgeon (Senior Centre Manager) and Juliette George (Deputy Centre Manager) are members of the key management personnel group. Their combined remuneration for 2023 was £80.365, plus £8,580 in employer's Nl and £2,411 in employer pension contributions. The above remuneration is allowed in accordance with the charity's Memorandum & Articles of Association. Sarah Oliver (Trustee) has received £1,192 (2022.. £2,422) from the charity for fmancial management services. No other Trustee has claimed expenses in 2023 (2022.. nil). 25

1. Related party transactions There were no related paty transactions in 2023 or 2022 other than those disclosed in note 10.
2. Governnient grants Income from government grants comprises grants made from Cornwall Council, the local authority, towards the cost of childcare in line with government policy. This amount was £357,019 in 2023 (2022.. £346,811).
3. Corporation taxation Oasis is a registered charity and the results of Its normal activities are not liable to Co￿)0ratiOn Tax.

4. Tangible r￿ed assets Fixtures & Fittings Cost At I st January and 3 1st December 2023 11.968 Depreciation At I st January 2023 Disposals Charge for the year 11,968 At 31st December 2023 11,968 Net book value At 31st December 2023 At 31 st December 2022 All the tangible fixed assets are used for direct charitable purposes. Only those with a value of £ 1,000 or more will be capitalised in fijture years. 26

5. Debtors 2023 Totsl 2022 Total Income due for outstanding f Prepaid expenditure 34.251 2,079 24,039 1.953 36,330 25.992

6. Creditors Amountsfalling due within one year 2023 2022 Total Total Trade creditors (6.787) {3.524) (11,093) (6287) (2,609) {6,065) Accruals Taxation and social security (21,404) (14,961)

7. Financial commitments At 31" Deccmber 2023, the only commitment under a non-cancellable operating lease was the rent payable to Cornwall Council for the Marazion Nursery which is on a 25 year lease from November 2018. 2023 2022 Operating leases Commitments Payable within one year Payable within one to two years Payable within two to five years Over five years 2,000 2,000 6.000 30,000 2,000 2,000 6,000 32,000 40.000 42,000 27

8. Movement in funds Balance at 1st Jan 2023 Jncoming Resources R&sources Expended Balance at 31 Dec 2023 Trdnsfers Restricted Designated capital fund General 155,119 817,002 (759,882) 212,239 155,119 817,002 (759.882) 212,239 The designated capital fund represents the net book value of unrestricted fixed assets, recognising that these funds cannot be readily converted into liquid funds.

9. Net assets by fund 2023 Restricted fimds unT￿triCt fjjnds Tangible &8sds Net cumt assets 212,239 212,239 Net assets by fund 2022 Restricted funds Unrestricted funds Tangible assets ' Net current &ssets 155,119 155,119 28