i (khsls
Childcore Centre
Ludgvan Community Childcare Centre Limited
Registered Charity Number 1057410
Registered Company Number 3180353
Trustees, Report and Financial Statements
3 1st December 2024
Charity Reg.. 1057410 Ofsted Reg." Ludgvan 103172, Marazion 2496718
Company Reg." 03180353

CONTENTS
Page
Trustees, report
Reference and administrative details
Structure. governance and management
Objectives and activities
Review of achievements public benefit for the year
Financial review and results for the year
12
Reserves policy
13
Investment policy
13
Plans for future years
14
Statement of Trustees. responsibilities
15
Statement of disclosure to Auditor
16
Auditor's report
17
Statement of financial activities
21
Balance sheet
22
Statement of cash flows
23
Notes to the financial statements
24-32

TRUSTEES, REPORT
For ihe year to 31st December 2024
The trustees are pleased to present their report together with the financial statements of Ludgvan
Community Childcare Centre Ltd {"Oasis") for thc year to 31" December 2024 and can confinn
that the latter comply with the requirements 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 201 l 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)."

Reference and Administrative Details
Registered name
Charity registration number
Company registration number
Ofsted registration numbers
Ludgvan Community Childcare Centre Limited
1057410
03180353
103172 (Ludgvan)
24967 l 8 (Marazion)
Trustees
The Trustees at 31 December 2024
Zoe Cumow
Mark Fletcher
Juliette George
Stephen Jenkin (appointed 25 July 2024)
Joanne Laity
Rev Canon Nigel Marns (resigned 27 June 2025)
Sarah Oliver
Caroline Peers
Laura Richards (appointed 25 July 2024)
Richard Sargeant
Linda Taylor
Lorna Trudgeon
There are no committees or subcommittees of the Trustses.
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
Barclays,
819 Market Jew Street.
Pen7ance,
Cornwall TRI 8 2TN.
HSBC
l Greenmarket,
Penzance,
Cornwall TR18 2SD.
Auditor
David Hastings FMAA T ACA
Senior Slalutory Audi£or,
BK Plus Audit Limiled
Alverton Pavilion,
Trewithen Road,
Penzance,
Cornwall TR18 4LS.
Solicltors
Tozers
Broadwalk House,
Southernhay West,
Exeter,
Devon EXI IUA

Structure, Governance and ManageTnent
Governing instrument
The charity, which is a company limited by guarantee, is governed 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 Icss than five
or more than twelve persons, all of whom are trustees. Following a skills audit, trustees are sought
whose skills, knowledge and experience are relevant to the administration of the charity and
complement the skills of the existing trustees.
Trnstees are nominated and elected annually 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 statement 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 are responsiblc for th¢
administration of the charity.
Operational control is delegated to the Senior Centre Manager. The rest of the management 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
systetns are in place to monitor and mitigate Oasis, exposure to such risks. They are also satisfied
that a robust procedure is in place 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 trustees.
The most significant risks identified in 2024 are:
Continuing to be able to offer an outstanding level of learning and opporttknities 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 grant
funding.
Loss or comiption of IT data.

Objectives & Activities
Charitable objects
The objects of the charity arc to:
Advance the education of children from thc age of three months to fourteen years old, through
the provision of safe and stimulating play and recreation facilities.
Provide Childcare Centres to promote the 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 wide 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, excitemcnt and enthusiasm through different learning expericnccs.
We strive to generate and retain sufficient funds to achiev¢ 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 objectives
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 wer¢ cntitled to receivc fundcd childcare.
A programme of repairs and developments was carried through.
Phased budgets were set to monitor achievement 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 transition for all children is as smooth as possible, both within the age groups in the
centres 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,
e) Work with the Cornwall Early Years team to promote best practice in other nurseries across
Cornwall.
Revenue came from fvnding from the government and fees charged to parents.
Reappointnient of Auditor
The Auditors, BK Plus Audit Limited, will be proposed for re-appointment in accordance with the
special provisions of Part 15 of the Companies Act 2006.

Review of Achievements & Public Benefit for 2024
The trnstees have referred to the Charity Commission'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 2024 outstanding opportunities continued to be provided to promote a high-quality learning
culture.
Oasis continues to drive forward in supporting vulnerable children and their families with food
povety, financial deprivation, mental health and well-being, and support with basic resources and
equipmcnt such as shoes and coats. warni clothing, baby clothing, cots, prams, car seats etc.
Trustees, Management and staff continue to work in partnership with:
Recommendations from Oasis Trustee monitoring visiLs to fither develop parent
partnerships, transition, safeguarding. special educational needs and learning and
development.
Continuing to effectively embed updates in legislation and welfare requirements.
Amend policies, procedures, and practice in line with changes in legislation.
Oasis successfully opened a new Parent Toddler support group at the Ludgvan Community Centre.
This weekly group has grown from strength to strength with staff supporting over 45 families in the
local and wider community.
Oasis continues to promote and offer the apprenticeship pathway for young students and parents or
carers who would like to trainlretrain. With the support of Aspirc Training Team, this route has
become very beneficial when recruiting new staff and giving parents an opportunity to return to
work.
Oasis has continued to embed effective systems for supervision across both centres with continuous
professional development for all staff. Individual stafThave been closely mentored and nurtured to
develop to their full potential. Emphasis is placed upon emotional first aid, health and well-being,
and prosperity and financial stability. All staff have been provided with training opportunities to
develop their knowledge and skills. This has had a positive impact on the staff's knowledge and
understanding and therefore the children's learning and development.
During 2024 the Manager continued to volunteer to work alongside Cornwall Council, other
settings, and Reception classes in the immediate and wider community to enhance outcomes for
children and their families such as:
Engaging parents in home-learning initiatives by involving them in their children's learning.
Supporting staff to understand the importance of developing a free-flow learning environment
and how this impacts upon the children's opportunities to problem solve and critically think.
Promoting parental involvement
Supporting management with Ofsted readiness
Providing a rich learning environmcnt both inside and outside to promote children's
communication opportunities and skills
Developing understanding of committee roles and responsibilities, funding, embedding secure
knowledge, understanding and awareness of safeguarding procedures
Implementing and embedding changes in legislation, policies and procedures
Supporting staff recruitment process to develop a qualified workforce
Enhancing SEN Provision to prevent barriers to learning
Supporting fundinglgrant applications to improve flnances and sustainability

Oasis staff have worked closely with Ludgvan School to support the development of Ludgvan
Community Centre and to explore possible options for the future use of the venue. This ongoing
project is evolving weekly to support the local and wider community. This ycar we have seen the
centre flourish into a community hub evolving through the provision of training events, wam] space
groups, fundraising events, family gatherings, special evcnts/celebrations, coffee mornings, parent
groups and local sporting events.
Oasis has continued to adapt the outdoor play areas across both centres in line with the children's
interests and needs:
Easily accessible large loose parts such as wooden bricks, wooden track, guttering, woods,
plastic tubing, tyres and crates to enhance collaborative problem-solving.
A wide range of tools such as spirt-levels. protractors, set-squares, tape measures and meter
measuring sticks have been added to enhance mathematical concepts.
Ta￿s, rope and den builth'ng equipment to enlwice and extend problem solving and critical
thinking.
Brooms, rakes, large leaf brushes, wheelbarrows and large-scale climbing equipment have
been added to promote risk and challenge.
Once again. Oasis has been able to provide Forest school sessions across both centres led by a
company called Heart of the Woods based in Cubit Woods tn 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 endless opportunities to participate
in real-life expericnces and encounter wildlife, which provided inspirational learning opportunities
and memories. These learning experiences were also linked to the Oasis onsite growing project and
the children's individual interests.
Once more, Oasis has been able to part fund Music and Dance sessions with MADE to enable all
children across the age ranges, across both centres, to explore the arts. These opportunities have
provided an exciting crcativc intervention for the children and staff. Developing individual
children's PSED and CLD by supporting children's concentration, taking part, making choices, turn
taking, sharing, following instructions, expressing themselves and listening. You will also be
pleased to hear that Oasis has been working alongside MADE as part of a ' Story Time, project. We
supported a successful application to the Foyle Foundation which enabled 16 settings across West
and Central Cornwall to take part. Each setting will select a story that the children can read and
explore with a professional artist. The artist will facilitate activities in music, dance and drama
creating a response with the children to the selected story which parents will be invited to see. The
aim of the project is to develop communication. speech, and language skills through the arts.
In 2024, Oasis created a library in the reception area of both settings to include a wide range of
books and story sacks across the age ranges to enable parents to freely choose books daily with their
child. Research shows that reading stories plays an integral role in children's learning and
development. Sharing stories with children from a very young age supports early communication
and reading skills and helps to promote confident communicators and lifelong readers. This has
becn a huge success with many parents and children sharing how they are enjoying stories together.
Books are flying off the shelves on an hourly basis with the children's enthusiasm of wanting to
share stories.
Oasis is pleased to support parents back to work through the new Funded Entitlement Expansion
which provides 15 free funded childcare hours for working parents. We have experienced many
families taking up this initiative which has greatly impacted upon the settings already very long
waiting lists.

Oasis trustees and staff continue to operate in a f￿ancial, environmental and socially sustainable
way, to protect the charity. Specifically paying emphasis on developing and securing the middle
management to ensure stability of the centre in future years.
The trllstees confirni that they have complied with the requirements of section 17 of the Charities
Act 201 I to have due regard to the public bcnefit guidance published by the Charity Commission
for England and Wales.

Financial review and results for the year
a) The detailed results are set out on pages 21 to 32 and show net movement in fijnds for the
year of £87,709 (2023.. £57. 120. 2022.. £34. 769).
b) Income from charitable activities was £1,033,078 against £811,332 in 2023.
During 2024, £931,536 (2023.. £755. 635) was spent delivering the charitable activities. As in
previous years, the majority (78 % in 2024, 79 % in 2023) of this was spent on wages. There is
full detail of this expenditure on page 28.
d) The trustees confirm the availability of assets to fulfil the obligations of the charity without
recourse to borrowing.
e) Donations including match fijnding totalled £184 (2023.. £3. 002). The trustees thank those
who made donations or fund raised on behalf of Oasis in 2024.
12

Reserves policy
All Oasis, income has becn used in pursuance of its objectives as set out above.
Reserves retained in cash and cash equivalents at the year-end are required to n￿￿ge the cash flow
needs of Oasis over a year and to cover unexpected expenditure.
It is the trnstees, view that it is prndent to ensure that there are sulricient reserves to cover at least
st
three months running costs which are approximately £250,000. Unrestricted funds at 31 December
2024 were £299,948 (2023.. £2J2,239} of which £10,700 (2023.. nil) relates to a Designated Capital
Fund, represented by the Net Book Value of Fixed Assets held by the charity for its charitable
pU￿oSeS. The level of fre¢ reservcs. being Unrestricted Funds less total Fixed Assets, held by the
charity as at 31S1 Dccembcr 2024 were £289,248 (2023.. £212,239).
The trustees plan to maintain this reserve in line with inflation at an appropriate rate for the charity.
This will be mainly driven by the inflationary increase in the National Living Wage which is 6.8°/0
from 2024 to 2025.
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.
Thc current policy of the trustees is to hold surplus funds on short tcrn] deposit, applying the
income generated to charitable PUTposes for which the funds are intended.
Investments generated £17 (2023.. £20) interest receivable for the year.
13

Plans for future 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 centres will:
Extend upon the use of books and songs to enhance children's learning and dcvelopment.
2. Continue to develop balance bike provision for pre-school children.
3. Continue working with Cornwall Council to support other settings with sustainability.
4. Access free resources and equipment from parents within the community who are able to gift,
buy. sell, and swap to support vulnerable families.
5. Provide opportunities for staff to attend national training.
6. Continue working in partnership with MADE (forn]erly Music and Dance Education) to
promote planned music opportunities for children and staff across the age ranges.
7. 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.
8. Continue to keep up to date with legislation and guidance and update policies, procedures and
practice as necessary.
9. Work closely with the newly appointed Safeguarding Officer at Ludgvan School to support
shared families.
I O. SENCO staff to continue to attend regular SENCO Network Meetings to keep up to date with
any changes to legislation, guidance, local services, policies and practice. Continue to adapt
practice alongsidc changcs and updatcs whcn Twuircd.
I l. Continue to work alongside Cornwall Council to share good practice and support othei settings
at our Oasis Open Door Sessions.
12. Operate in a financially sustainable way to protect the charity in future years.
14

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 the 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, the 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 expenditure, of the charitable 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 financial 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 financial position of the charity and enable them to ensure that the
financial 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.
15

Statement of disclosure to auditor
So far as the trustees are aware, there is no relevant infornlation of which the charity's auditor is
unaware. Additionally, the trustees have taken all the necessary steps that they ought to have taken
as trustees in order to make themselves aware of all relevant inforniation and to establish that the
charity's auditors are aware of that inforn]ation.
By order of the trustees:_
Zoe Curnow
For and on behalf of the trustees
The Oasis Childcare Centre,
Lower Quarters,
Ludgvan,
Penzance,
Cornwall TR20 8EX
24 July 2025
16

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE LUDGVAN COMMUNITY
CHILDCARE CENTRE LIMITED
Opinion
We have audited the financial statements of Ludgvan Community Childcare Centre Limited (the
'charity') for the year ended 31 December 2024, which comprise the Statement of Financial Activities,
Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary
of significant accounting policies. The financial rcporting framework that has been applied in their
preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its
incoming resources and application of resources, including its income and expenditure, for the year
then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards ar¢ further described in the auditor
responsibilities for thc audit of the financial statements section of our report. We are independent of the
charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis
of accounting in the preparation of the fllyancial statements is appropriate.
Based on the work we have perfornied, we have not identified any material uncertainties relating to
events or conditions that, individually or collectively, may cast sigmficant doubt on the charity's ability
to continue as a going concern for a period of at least twelve months from when the original financial
statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern aTe described
in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other inforn]ation comprises the infom]ation
included in the annual report, other than the fmancial statements and our auditor's report thereon. Our
opinion on the f￿anCIal statements does not cover the other inforn]ation and, except to the extent
otherwise explicitly stated in our repor¢ we do not express any fomi of assurance conclusion thereon.
17

In comlection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other inforn￿tIon is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to detemiine whether there is a material misstatement in the financial statements or a material
misstatement of the other inforniation. If, based on the work we have perfornied, we conclude that there
is a material misststement of this other inforn]ation. we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the Course of the audit:
the inforniation given in the Trustees, Report for the financial year for which the financial
statements arc prepared is consistent with the financial statements. and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report bv exception
In the light of our knowledge and understanding of the charity and its environment obtained in the
course of the audit, we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns. or
certain disclosures of trustees, remuneration specified by law are not made. or
we have not received all the inforniation and explanations we require for our audit. or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage of the small companies, exemptions in preparing the trustees,
report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities (set out on page 15), the trustees
are responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view, and for such internal control as the trustees deterniine is necessary to enable the
preparation of financial statements that are free from material misstatement, whether due to fraud or
error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease
operations, or have no rcalistic alternative but to do so.
Other matter
Comparative inforniation in the financial statements is derived from the clwity's prior period financial
statements which were not audited.
18

Auditor responsibilities for the audit of the financial statements
Our objectives are to obtsin reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an
audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it
exists. Misstatements can arise from fraud or error and are considered n￿terIal if, individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on the
basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed
below:
We obtained an understanding of the legal and iegulatory frameworks that are applicable to the charity
at the planning stage of the audit. The charity is subject to laws and regulations that directly affect the
financial statemcnts, specifically the Companies Act 2006, Charities Act 201 l and Charities Statement
of Rccommcnded Practice.
We assessed the extent of compliance with laws and regulations as part of our procedures on the related
financial statement items. The charity is also subject to laws and regulations where the consequences of
non-compliance could have a material effect on amounts or disclosures in the financial statements, for
instance through the imposition of fines or litigation or loss of the charity's ability to operate.
In making this assessment we deterniined that the most significant elements of legislation include those
relating to employment laws and regulations, health and safety standards and childcare. On the basis of
this understanding we designed our audit procedures to identify non-compliance with such laws and
regulations. Our procedures involved the following:
Making enquiries of management regarding their knowledge of any non-compliance with laws and
regulations that could affect the financial statcments. As part of these enquiries, we also discussed
with management changes in risk assessment relating to fraud, and whether there have been any
known instances, allegations or suspicions of fraud. of which there were none.
Considering the filings made at Companies House and any omissions thereon, of which none were
identified.
Discussing with management compliance with health and safety and childcare legislation.
Making enquiries of management and reviewing charity expenditure for any evidence of disputes,
actual or potential litigations and claims, with regulato￿ or any other such body.
Audited the risk of management override of controls, including through testing of journal entries
and other adjustmcnts for appropriateness, and evaluating the rationale for significant transactions
outside the nom]al course of charitable activities, of which there were none.
Reviewed the estimates and judgements made in the financial statements for any indication of bias
and challenged assumptions used by management in making the estimates.
Reviewed Board minutes and correspondence with regulators to corroborate the findings from the
above.
Due to the inherent limitations of an audit, therc remains a risk that we may not have detected some
material misstatements Én the financial statements or non-compliance with laws and regulations. This is
19

despite the fact that we have properly planned and perfom]ed our audit in accordance with auditing
standards. For example, the further removed irregularities are from the events and transactions reflected
in the financial statements, the less likely the inherently limited procedures required by auditing
standards would identify it.
As with any audit, there remained a high risk of non-detection of irregularities, as these may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. This
risk was reduced by a thorough review of all controls in place that monitor items and transactions
affecting the financial statements. The primary responsibility for the prevention and detection of
irregularities and fraud rests with the trustees of the charity.
All relevant laws, regulations and significant risks of fraud identifjed have been clearly communicated
to each member of the audit engagement team.
We are not responsible for preventing non-compliance and cannot be expected to detect non-
compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
www.frc.org.uk/auditorsresponsibilitics. This description fornis part of our auditor's report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's
trustees those matters we are required to state to them in an auditor's report and for no other purpose.
To the fullest extent perniitted by law, we do not accept or assume r¢sponsibility to anyone other than
the charity and its trustees as a body, for our audit work, for this report. or for the opinions we have
fornied.
David Hastings FMAAT ACA (Senior Statutory Auditor)
For and on behalf of BK Plus Audit Limited, Statutory Auditor
Alverton Pavilion
Trewithen Road
Penzance
Cornwall
TR18 4LS
I•JJ t025
20

STATEMENT OF FINANCIAL ACTIVITIES
IT]corporatin&J the incomc and Lxpcnditure account for the >'ear endd 31. December ?024
2024
Totsl
2023
Total
Unrtsttlcted Restricted
Income and endowments from:
Note
Charitable activities
Donations and leg￿l¢S
1.033.078
184
1,033,078
184
811,332
3,002
.033.262
1,033,262
814,334
Tnvestmenl income
17
17
20
Other income
1.496
1.496
2.648
Totsl
,034,775
1.034.775
817,002
Expenditure on:
Charitable aclivilies
Charitable activities
Govemanc¢
931.536
15.530
931,536
15,530
755.635
4.247
Total
947,066
947,066
759,882
Net Income for year
87,709
87,709
57.120
Trdnsfers between fimds
18
Net movement In funds
87,709
87.709
57,120
Total funds brought forward
212.239
212.239
155.119
Total funds carried forward
18
299.948
299,948
212,239
There were no acquisitions or discontinued activities in the year to 31 St December 2024 or the year
to 315t December 2023.
The charity has no recognised gains or losses in the year other than the net incorne as shown above.
21

BALANCE SHEKT
at 31 Decenibei. 2n24
2024
2023
Fixed assets
Tangible assets
Note
14
10.71Xi
10.7(Ki
Current assets
Debtor5
15
26,428
293,418
36,330
197.313
Cash in hand and * bank
319,846
233,643
Creditors
Amounts falling due within one year
16
(30,598)
(21.404)
Net current assets
289.248
212.239
Total assets less current liabilities
299,948
212.239
Funds
Designated capital ￿nd
Un￿strided general fund
18
10,700
289.248
212.239
Total funds
299.948
212.239
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies regime.
These financial statements were approved and authorised for issue by the Trustees on 24 July 2025.
Zoe Curnow
For and on behalf of the Trustees
Company number: 03180353
22

STATEMENT OF CASH FLOWS
at 31 DeLeiiJbei. ?Q24
2024
2023
Cash flow from operating activities
110,355
53,205
Cash flow from investing activities
Invcslment income
17
20
PurCh￿e of tangible fixed &ssets
Proceeds from disposal of tangible fixed assets
(14.267)
(14,250)
20
Net change in cash and cash equivalents
96,105
53,225
Cash 2nd cash equivalents at the stsrt of the yegr
197,313
144.088
Cash and cash equfiv21ents at the end of the year
293,418
197,313
Reconciliation of net income to cash flow from operating activities
2024
2023
Net income for the year
87,709
57,120
Adjusted for:
Fixed &ssel depr￿latIOn
Investment income
Movement in debtors
Movement in creditors
3,567
(17)
9,902
9.194
(20)
(10,338)
6,443
Cash flow from operating artiiitios
110.355
53.205
All of the cash flows are derived from continuing operations during the above two periods.
23

NOTES
(f()i-iiiiiig part of thefinancial slatemenls)
Summary of significant accounting policies
l. l General information and basis ofpreparation
The Ludgvan Community Childcare Centre Limited is a company limited by guarantee and
a charity, registered in England. The address of the registered office is given in the charity
inforniation on page 3 of these financial statements. The nature of the company's
operations and principal activities are outlined on pages 7 and 8.
The company constitutes 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 Practicc applicablc to charities preparing their fmancial
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.
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 perfornjance conditions have been
met, the amount can be measured reliably and it is probable that the income will be
received.
For donations to be recognised 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 perfomance before entitlement can be obtained then income is deferred until those
conditions are ￿1]Y 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 detemiined on the basis of the value of the gift to thc
company. For example the amount the company would be willing to pay in the open market
for such facilities and services. A CO￿espOndIng amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line with the SORP
(FRS 102).
24

The company receives government grants towards its corc 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.
J. 4 Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all costs relatcd to the category. Expenditure is recognised where there is a
legal or constructive obligation 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 company, but do not directly represent
charitable activities and include office costs, governance costs and administrative payroll
costs. They are inCu￿ed directly in support of expenditure on the objects of the company.
Where support costs cannot be directly attributed to particular headings they have been
allocated to cost of raising ￿ndS and expenditure on charitable activities on a basis
consistent with use of the resources.
1.6 Tangiblefued 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 &8set capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost,
less estimated residual value, of each asset on a systematic basis over its expected useful
life. All assets are currently fully depreciated evenly over four years.
1. 7 Investments
Current asset investments are short terni highly liquid investments and are held at fair value.
These include cash on deposit.
1. 8 Debtors and credilors receivable /payable wiihin 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 impaimient are recognised in
expenditure.
1. 9 Impairmenl
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 carying amount exceeds its recoverable amount, an impairn)ent loss is
recognised in profit or loss.
I. 10 Provisions
Provisions are recognised 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 economkc benefits will be required in
settlement and the amount can be reliably estimated.
1.11 Leases
Assets acquired under finance leases are capitalised and depreciated over the shorter of the
lease tern] and the expected useful life of the asset. Minimum lease payments are
25

apportioned between the financ¢ charge and the reduction of the outstanding lease liability
using the effective interest method. The related obligations, net of future finance charges,
are included in creditors.
Rentals payable and receivable under operating leases are charged to the SOFA on a straight
line basis over the period of the lease.
1. 12 Employee benefits
When employees have rendered service to the company, short-tern] employee benefits to
which the employees are entitled are recognised at thc undiscounted amount expectcd 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 Tor
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.
l. 15 Judgements and key sources of estEmalion uncertalnty
In the application of the company's accounting policies, the trustees are required to make
judgements, 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 y&qrs where the revision affects both current
and future years.
26

Income from charitable activities
2024
Tolal
2023
Total
Unrestiicted Restricted
Fe￿ for childcare provision
Funding for core provision
390,016
643.062
390,016
643.062
454,313
357,019
1.033.078
1,033.078
811,332
2023
811,332
811,332
Income from donations and fundraising
2024
To¢al
2023
Unrestricted
Donations
Fundraising
107
77
119
2,883
184
3,002
Investment income
2024
Total
2023
Unrestrict￿1
Bank illte￿t
17
20
17
20
Other income
2024
Total
2023
Unrestrict
Income from feed in tariff
Sundry income
2.225
423
1,496
1,496
2,648
27

Expenditure on charitable activities
2024
Total
2023
Total
Unrestricted Restricted
Wages
Trdining
Direct costs of providing thildLwe
Rq)airs and maintenance
Utilitics
IT
Cleaning
Advcrtising
Insurnice
Telcphone and bro4lband
Stationery and postage
Bank tharges
Miscellanfx)us
Depreciation
734.339
3.810
72.268
59.098
17.452
5,801
13,037
415
7.307
5.370
5.076
215
3.781
3.567
734,339
3,810
72,268
59.098
17,452
5,801
13,037
415
7.307
5.370
5.076
215
3,781
3,567
596,946
2,516
48,443
51,854
16,281
5,065
14,794
60
6.748
4.630
4,434
169
3,695
931,536
931,536
755,635
2023
755.635
755.635
Governance costs
2024
Total
2023
unrestri￿
Legal & Professional
Auditors remuneration
9,110
6,420
2.447
1,8
15.530
4.247
28

Net income for the year
This is stated after charging:
2024
Totsl
2023
Total
Auditors rcmuntr&ion
Dcpreciation
6.420
3.567
1,800
Analysis of staff costs and the cost of key management personnel
The average number of employees in 2024 was 31 (2023.. 29). There were no employees
whose total remuneration exceeded £60,000 during the reporting year (2023.. ni4.
2024
2023
Wagcs
Social scauity costs
Pension costs
682.382
33.392
18.565
546.292
35,111
15,543
734,339
596,946
The charity contributes to a defined contribution pension scheme. The pension cost charge
for the year represents contributions payable by the charity to the fund and amounted to
£18,565 (2023.. £15,543). There were no outstanding contributions at the year-end (2023..
ni4.
The total employee benefits of key management personnel for the group was £149,234
(2023.. £127,571).
10. Trustee remuneration and expenses
Two Truste¢s, Lorna Trudgeon (Senior Centre Manager) and Juliette George (Deputy
Centre Manager) are members of the key management personnel group. Their combined
remuneration for 2024 was £91,826, plus £10,161 in employer's NI and £2,755 in ernployer
pension contributions.
The above remuneration is allowed in accordance with the charity's Memorandum &
Articles of Association.
Sarah Oliver (Trustee) has received £1,253 (2023.. £1,192) from the charity for financial
management services, as pemiitted in accordance with the charity's Memorandum &
Articles of Association.
29

Juliette George (Trustee) was reimbursed £196 (2023.. £320) in respect of direct costs of
providing childcare.
11. Related party transactions
There were no related party transactions in 2024 or 2023 other than those disclosed in note
10.
12. Government 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
£643,062 in 2024 (2023.. £357. 019).
13. Corporation taxation
Oasis is a registered charity and the results of its nomial activities are not liable to
Corporation Tax.
14. Tangible fixed assets
Flxlures &
Fittings
Cost
Ai 1st January 2024
Additions
Disposals
12.844
14,267
At 3 1st I)ecember 2024
27.111
Depre£iAdon
At I st J8nuary 2024
Disposals
Charge for the ycdr
12,844
3,567
At 3 1st Decembu 2024
16,411
Net book value
At 31st December 2024
10.700
At 3 1st Dcccmber 2023
All the tangible fixed assets are used for direct charitable purposes. Only those with a value
of £l.000 or more will be capitalised in future years.
30

15. Debtors
2024
Total
2023
Totsl
IncA)me due for outstanding f
Prepaid expenditure
24.634
1.794
34.251
2.079
26.428
36,330
16. Creditors
Amountsfalling due within one year
2024
Tolal
2023
Total
Trade crojitors
Accrnals
T&Yation and social security
(3.329)
(7.968)
(19.301)
(6.787)
(3.524)
(11.093}
(30,598)
(21.404)
17. Financi21 commitments
At 31 st December 2024, the commitments under a non-cancellable operating lease are the
rent payable to Cornwall Council for the Marazion Nursery which is on a 25 year lease
from October 2024, a 5 year contract with BT for phone and broadband services to June
2029 and a 5 year contract with Ricoh for a photocopier to May 2029.
2024
2023
Operdting leas¢s commitments
Payable within one year
Payable within one to two yeaT5
Payable within two to five years
Ovet five years
4,092
4,092
11,573
58,(KiO
2,000
2,000
6,000
30,000
77,757
40,000

18. Movement in funds
Balance at
1st Jan
2024
Incoming
R&souT
R&sOur￿$
Expended
Balance at
31 Dec
2024
Tmsfas
Restricted
Design&ed capital fi￿d
General
10,700
(10,700)
10.700
289,248
212.239
1.034,775
(947,066)
212.239
1.034,775
(947.066)
299.948
The designated capital fund represents the net book value of unrestricted fixed assets,
recognising that these ftmds catmiot be readily converted into liquid funds.
19. Net assets by fund 2024
Rastricted
fijnds
Unr&strict
fimds
Tangible &ssets
Nel currenl assds
10.700
289,248
299,948
Net assets by fund 2023
Restricted
fimds
Unrestrietal
nds
Tangible assets
Net current &ssets
212.239
212.239
32