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← Keighley Community Nursery Ltd

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 03363684 (England and Wales) REGISTERED CHARITY NUMBER: 1064202

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Keighley Community Nursery Ltd.

Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS

Keighley Community Nursery Ltd.

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Statement of Financial Position 6
Statement of Cash Flows 7
Notes to the Statement of Cash Flows 8
Notes to the Financial Statements 9 to 15
Detailed Statement of Financial Activities 16 to 17

Keighley Community Nursery Ltd.

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The main objectives of Keighley Community Nursery Limited is to provide childcare for families in the Keighley and surrounding area.

The main activities of Keighley Community Nursery are nursery day-care for children aged 0 to 5 years, before and after school care for children aged 3 to 11 and holiday club day care for children in the Reception year of Primary school.

The Trustees have considered the guidance in Section 4 of the 2006 Charities Act and consider that the activities of the charitable company are for the Public Benefit as they are open to families from all backgrounds.

Public benefit

The charity's public benefit is providing facilities for the daily care, recreation and education of children who are below compulsory school age or who are of compulsory school age during out of school hours and holidays to children in Keighley and the surrounding areas.

The charity has regarded the Charity Commission's guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The nursery had accumulated reserves of £214,467 as at 31 March 2025. During the year to 31 March 2025 there was a surplus of £41,938 (2024: a surplus of £21,870).

The surplus arose primarily due improved grants received during the year to 31st March 2025.

The nursery remains sustainable with a substantial waiting list, remarkably few complaints received over the last 12 months and a robust continuous professional development program for staff is in place and ongoing.

FINANCIAL REVIEW

Investment policy and objectives

There are insufficient free reserves for long-term investment. The Trustees are satisfied that the gross interest applicable to the business account with the National Westminster Bank is satisfactory.

Reserves policy

The Trustees feel that it is reasonable to try and maintain unrestricted reserves equivalent to 4 months of expenditure which in 2025 was £216,007 (2024: £171,700). These are held to protect the organisation against the uncertainties of both trading and funding. At the year end reserves were £214,467 (2024: £172,529), which satisfies the Trustees' target.

FUTURE PLANS

The nursery aims to maintain minimum cash reserves of at least £150,000, with the intention that any surplus above this level is spent on further improving the quality of care provided as well as maintenance and improvements to the nursery building.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

Keighley Community Nursery Ltd.

Report of the Trustees for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees

The Memorandum and Articles of Association require the Trustees to be re-elected at the next Annual General Meeting.

To retain the original ethos of the organisation, the trustees will endeavour to ensure that new members are recruited primarily from service users, particularly the parents, as well as ensuring that relevant skills are represented e.g. business, finance, childcare, human resources.

Organisational structure

Keighley Community Nursery Limited Board of Trustees must consist, accordingly to the Articles of Association at least 3 members with no maximum number. The Management Committee meets 5 to 6 times per year.

Induction and training of new trustees

Following election new Trustees will be provided with the relevant information regarding the history, structure and governance of the Company as well as the financial position and strategic priorities.

In addition, new Trustees will be referred to relevant training courses for Committee Members that are available through the Joint Training Board.

Related parties

Keighley Community Nursery's service delivery is consistent with the aims of the National Childcare Strategy and the Every Child Matters agenda.

Keighley Community Nursery has strong links with Bradford Early Years and Childcare Service, Sure Start Keighley, as well as with Local Schools, Colleges, Social Services and other professional agencies.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03363684 (England and Wales)

Registered Charity number

1064202

Registered office

Braithwaite Grove Keighley West Yorkshire BD22 6JB

Trustees

L Powell M Hall S L Greenwood - chair R A Balson E L Garnett N Dent Miss B Tomlin (appointed 20.1.25)

Independent Examiner

Richard J Hudson FCA Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS

Page 2

Keighley Community Nursery Ltd.

Report of the Trustees for the Year Ended 31 March 2025

REFERENCE AND ADMINISTRATIVE DETAILS Bank

National Westminster Bank Plc 63 North Street Keighley West Yorkshire

Approved by order of the board of trustees on 21 November 2025 and signed on its behalf by:

S L Greenwood - Trustee

Page 3

Independent Examiner's Report to the Trustees of Keighley Community Nursery Ltd.

Independent examiner's report to the trustees of Keighley Community Nursery Ltd. ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's 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 charity's accounts as carried 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. the accounts have not been prepared in accordance 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.

Richard J Hudson FCA

Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS

21 November 2025

Page 4

Keighley Community Nursery Ltd.

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 31 March 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,465
Charitable activities
4
Charitable activities
447,102
Nursery Fees
238,473
Other trading activities
3
736
Total
688,776
EXPENDITURE ON
Raising funds
5
150
Charitable activities
6
Charitable activities
1,578
Nursery Fees
645,106
Other
-
Total
646,834
NET INCOME/(EXPENDITURE)
41,942
RECONCILIATION OF FUNDS
Total funds brought forward
172,508
TOTAL FUNDS CARRIED FORWARD
214,450		 Restricted
funds
£
-
1,182
-
-
1,182
-
-
1,186
-
1,186
(4)
21
17		 31.3.25
Total
funds
£
2,465
448,284
238,473
736
689,958
150
1,578
646,292
-
648,020
41,938
172,529
214,467		 31.3.24
Total
funds
£
1,570
251,236
283,359
805
536,970
260
513,593
-
1,247
515,100
21,870
150,659
172,529

The notes form part of these financial statements

Page 5

Keighley Community Nursery Ltd.

Statement of Financial Position 31 March 2025

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
13
8,667
CURRENT ASSETS
Debtors
14
16,016
Cash at bank and in hand
203,352
219,368
CREDITORS
Amounts falling due within one year
15
(13,585)
NET CURRENT ASSETS
205,783
TOTAL ASSETS LESS CURRENT
LIABILITIES
214,450
NET ASSETS
214,450
FUNDS
16
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
17
-
-
-
-
-
17
17		 31.3.25
Total
funds
£
8,684
16,016
203,352
219,368
(13,585)
205,783
214,467
214,467
214,450
17
214,467		 31.3.24
Total
funds
£
6,233
19,196
159,336
178,532
(12,236)
166,296
172,529
172,529
172,508
21
172,529

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 21 November 2025 and were signed on its behalf by:

S L Greenwood - Trustee

The notes form part of these financial statements

Page 6

Keighley Community Nursery Ltd.

Statement of Cash Flows for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Finance costs paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 31.3.25
£
49,962
(1,102)
48,860
(4,844)
(4,844)
44,016
159,336
203,352		 31.3.24
£
27,268
(981)
26,287
(998)
(998)
25,289
134,047
159,336

The notes form part of these financial statements

Page 7

Keighley Community Nursery Ltd.

Notes to the Statement of Cash Flows for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.3.25 31.3.24
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 41,938 21,870
Adjustments for:
Depreciation charges 2,393 1,488
Finance costs 1,102 981
Decrease/(increase) in debtors 3,180 (3,899)
Increase in creditors 1,349 6,828
Net cash provided by operations 49,962 27,268

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 159,336 44,016 203,352
159,336 44,016 203,352
Total 159,336 44,016 203,352

The notes form part of these financial statements

Page 8

Keighley Community Nursery Ltd.

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - 15% on reducing balance Fixtures and fittings - 25% on reducing balance

Toys are written off in full in the year of purchase as their useful life is typically less than one year.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 9

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

2.
DONATIONS AND LEGACIES
Donations and other income
3.
OTHER TRADING ACTIVITIES
Fundraising
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable activities
Fees
Nursery Fees
Grants received, included in the above, are as follows:
Bradford Council NEF
Milk Grant
5.
RAISING FUNDS
Raising donations and legacies
Fundraising costs
6.
CHARITABLE ACTIVITIES COSTS
Charitable activities
Nursery Fees		 Direct
Costs (see
note 7)
£
1,578
622,594
624,172		 31.3.25
£
2,465
31.3.25
£
736
31.3.25
£
448,284
238,473
686,757
31.3.25
£
447,220
1,064
448,284
31.3.25
£
150
Support
costs (see
note 8)
£
-
23,698
23,698		 31.3.24
£
1,570
31.3.24
£
805
31.3.24
£
251,236
283,359
534,595
31.3.24
£
250,238
998
251,236
31.3.24
£
260
Totals
£
1,578
646,292
647,870

continued...

Page 10

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Nursery supplies and food
Repair and refurbishment
Sundries
Cleaning costs
Telephone, stationery and office
Bad debts
Depreciation
8.
SUPPORT COSTS
Nursery Fees
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 31.3.25
£
569,804
28,536
8,771
5,901
3,041
4,140
1,586
2,393
624,172
Governance
Other
costs
£
£
16,834
6,864
31.3.25
£
2,393		 31.3.24
£
456,964
23,313
5,184
4,038
3,311
3,908
855
1,488		 31.3.24
£
456,964
23,313
5,184
4,038
3,311
3,908
855
1,488
499,061
Totals
£
23,698
31.3.24
£
1,488		 Totals
£
23,698

10. TRUSTEES' REMUNERATION AND BENEFITS

During the year one of the charities trustees was remunerated through their employment as a member of key personnel and management.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Nursery staff		 31.3.25
£
534,303
27,392
8,109
569,804
31.3.25
29		 31.3.24
£
432,918
18,332
5,714
456,964
31.3.24
29

No employees received emoluments in excess of £60,000.

continued...

Page 11

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,570
Charitable activities
Charitable activities
250,104
Nursery Fees
283,359
Other trading activities
805
Total
535,838
EXPENDITURE ON
Raising funds
260
Charitable activities
Charitable activities
512,457
Other
1,247
Total
513,964
NET INCOME/(EXPENDITURE)
21,874
RECONCILIATION OF FUNDS
Total funds brought forward
150,634
TOTAL FUNDS CARRIED FORWARD
172,508
13.
TANGIBLE FIXED ASSETS
Improvements
to
property
£
COST
At 1 April 2024
11,621
Additions
-
At 31 March 2025
11,621
DEPRECIATION
At 1 April 2024
7,895
Charge for year
559
At 31 March 2025
8,454
NET BOOK VALUE
At 31 March 2025
3,167
At 31 March 2024
3,726		 Restricted
funds
£
-
1,132
-
-
1,132
-
1,136
-
1,136
(4)
25
21
Fixtures
and
fittings
£
52,095
4,844
56,939
49,588
1,834
51,422
5,517
2,507		 Total
funds
£
1,570
251,236
283,359
805
536,970
260
513,593
1,247
515,100
21,870
150,659
172,529
Totals
£
63,716
4,844
68,560
57,483
2,393
59,876
8,684
6,233

continued...

Page 12

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments & accrued income
15.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Accrued expenses
16.
MOVEMENT IN FUNDS
At 1.4.24
£
Unrestricted funds
General fund
172,508
Restricted funds
OFSTED fund
21
TOTAL FUNDS
172,529
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
688,776
Restricted funds
OFSTED fund
-
Milk Grant
1,182
1,182
TOTAL FUNDS
689,958		 31.3.25
31.3.24
£
£
14,890
17,864
1,126
1,332
16,016
19,196
31.3.25
31.3.24
£
£
3,534
4,563
7,941
5,753
2,110
1,920
13,585
12,236
Net
movement
At
in funds
31.3.25
£
£
41,942
214,450
(4)
17
41,938
214,467
Resources
Movement
expended
in funds
£
£
(646,834)
41,942
(4)
(4)
(1,182)
-
(1,186)
(4)
(648,020)
41,938

continued...

Page 13

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
General fund
150,634		 21,874 172,508
Restricted funds
OFSTED fund
25		 (4) 21
TOTAL FUNDS
150,659		 21,870 172,529
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund
535,838		 (513,964) 21,874
Restricted funds
OFSTED fund
-		 (4) (4)
Milk Grant
1,132		 (1,132) -
1,132 (1,136) (4)
TOTAL FUNDS
536,970		 (515,100) 21,870
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement At
At 1.4.23 in funds 31.3.25
£ £ £
Unrestricted funds
General fund
150,634		 63,816 214,450
Restricted funds
OFSTED fund
25		 (8) 17
TOTAL FUNDS
150,659		 63,808 214,467

continued...

Page 14

Keighley Community Nursery Ltd.

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,224,614 (1,160,798) 63,816
Restricted funds
OFSTED fund - (8) (8)
Milk Grant 2,314 (2,314) -
2,314 (2,322) (8)
TOTAL FUNDS 1,226,928 (1,163,120) 63,808

The restricted fund represents assets that were acquired with a grant from OFSTED. The grant was only to be spent on things that would improve the nurseries facilities and staff training for the nursery to gain a better OFSTED inspection result in the future. These assets are being depreciated over their useful life.

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

Page 15

Keighley Community Nursery Ltd.

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

31.3.25 31.3.24
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations and other income 2,465 1,570
Other trading activities
Fundraising 736 805
Charitable activities
Fees 238,473 283,359
Grants 448,284 251,236
686,757 534,595
Total incoming resources 689,958 536,970
EXPENDITURE
Raising donations and legacies
Fundraising costs 150 260
Charitable activities
Wages 534,303 432,918
National insurance 27,392 18,332
Pensions 8,109 5,714
Nursery supplies and food 28,536 23,313
Repair and refurbishment 8,771 5,184
Sundries 5,901 4,038
Cleaning costs 3,041 3,311
Telephone, stationery and office 4,140 3,908
Bad debts 1,586 855
Improvements to property 559 657
Fixtures and fittings 1,834 831
624,172 499,061
Support costs
Other
Insurance 1,904 1,658
Premises costs 9,616 9,095
Recruitment & training 4,212 1,695
Bank charges 1,102 981
16,834 13,429
Governance costs
Accountancy and legal fees 2,140 2,040
Legal fees 4,724 310
6,864 2,350

This page does not form part of the statutory financial statements

Page 16

Keighley Community Nursery Ltd.

Detailed Statement of Financial Activities
for the Year Ended 31 March 2025
31.3.25 31.3.24
£ £
Total resources expended 648,020 515,100
Net income 41,938 21,870

This page does not form part of the statutory financial statements

Page 17