COMPANY REGISTRATION NUMBER: 03251011 CHARITY REGISTRATION NUMBER: 1074899 Osborne House Community Nursery Ltd Company Limited by Guarantee Unaudited Financial Statements 30 September 2023 Osborne House Community Nursery Ltd Company Limited by Guarantee Flnancial Stalements Year ended 30 September 2023 Trustees. annual rep¥Nt lincorporating the directorfs re￿t) Ind8P8nd8nt 8xamin8rfs r8Wrt to the tnJst8éS Slalemenl of financial activities {induding income an(1 expenditure a￿untI Statement of financial position Notes lo the financial slalements Osborne House Community Nursery Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Di￿¢t0￿$ Report) Year ended 30 September 2023 Th¢ truslee5, who are also the d1￿Clor5 for the PUT￿5¢5 of company law. present their reJx)rt and ihe unaudited financial siatem¢nts of the Lh￿ilY t￿ the Jrar ¢rtded_IO Sepltrm￿r 2023 . Reference and administrative details Regi¥ter¢d eharilj n¥me Charit). reLli5tration number Compllnw registr&tlOJi Aumber Prlnelpal office #nd reglstered offiee O$lK>rn¢ Hwse Ctsmmuniiy Nutsery Lid 1074899 03251011 5 Minto Road Sheffield S6 4GJ The trustees A Willoughby S Wr¢ly J Nolan F Bursell (Appointed l N0Vern￿r 202.11 (Appointcd 12 OctobcT 20231 (Appointcd 12 Ociobcr 2023 E OGhoa A Wish Company secretary Independent examiner Wosskow Brown Sitphen Allen ACA FCCA Ome8a Coun .3fyk.366 Cemetery Road Sheffield SII 8Fr Structur•. governan¢e and management Governing document As a charity and cornpany limited by guar&nte¢ we are governed by a Memoralldu￿ and Atricle5 of A5$0Clation. Appointment of management committe• Members of ihe management committee thall be known as trnsitts for Ihe purpose of charity law. There is no maxirnum numkr or trustees, but ihe tninimum nutnber required is 3. Tlje Fx)ard may appoint perso￿$ as mejnbers of ikne toard either to fill a ¥'acancy or as an additional member. Th¢ board M'ill aetivelv ieek ro recruit members from the local communiry ￿ ￿'ell as fron) pareiiis of ¢hildffii attending the nurs¢ry. Trustee induction and training All tTUSte¢s are encnurag¢ryJ t() attend short Iraining %es%iiin5 to faTniliariie theTnfelves with Ihe chanty aT￿ Ihe wntext wlhin which Ir operates. These cover Thc obligations ot'thc board of trusiccs. The main docunients M,hich set out the operational fraMe￿Ork of the charity ir￿]Uding rhe Men)orandum & Articles. - The r¢sourcing of funding. and the currenr financial t￿ltiOn3S set oui in the lat¢5t published finaniial starements. futurc plans and objcctivcs. Safeguarding policy and OFSTED guidelines. Risk managemerrt The Irusltes aciively tti'ieiv the Inajor risks wliich the tharilv faces on a regular basis. The trustees are awart ihal the Lurrtnt levtl or teE¢rve.% i% in%uflicLenl, havjng been iTnpact¢d by lh¢ receni C"UVID-IY pandetnic. There i£ alEo a national ri151￿ In the childcaie se¢ior. the shortage of Qualified EYFS pra¢iitioners in ihe Tnarkei n*an5 thai ¢hurn 3nd re¢will￿ent Is a challenge. The trnsiets will Inonitor the impa¥t Lif this on thv setting and wtsrk with managemvnt to tebolve on a $￿taInable solution. The tnjstees have also exatnined other operational and busin¢5S ti5ks fared by th¢ chatj.ty w)d att¢mptd to ac15wiftly to Tnibgate any signifirani risk5. Organlsatlonal structurè Tht board of trubiees meet ai regular intervals duriDg the Yearat￿ are resporL8ible for the Strdtegic dirtciion and policy ol-lhe chariiy. Day to ddy rcsponsibility for the proi'ision of scrviccs rests with nur5cry M￿a¥cr. A￿Irca Young who is rcspoDsible for cnsurin¥ that the charity dtlivers the qervices specified and ihar kry perforniance indi￿rOT5 are mei. The mana4yer also ha% re￿[￿￿￿$1￿11ity for the day to day admiiiistrativ¢ at¥J financial operaiion of the organi&qii¢m in¢luding identifying, obtsining, andmanaging fU￿Jillg Incoin¢. Rolated parti8s Th¢ ILusI¢¢s ¢unsid¢i that th¥tc Jte no Tvlatd potty tt3nbaLtivns in the yrJr w]dYrT¢Vi¢W_ Objeetives and activities Th¢ principal actiNily vc the ¢harily in the year UTMkr review was io ptovide hjgh quality care a[￿ education. In a¢¢ordan¢e ivith Ofsted regulations. forcliildren aged 3 months lo 5 )ear5. By providing full day care provision locaitd IT) tlie heart of the Hillsborough district in Shetlield we enable parents/carers io advance tbrou¥b further educalK)n or 10 Seek paid employmellt, knowin¥ that their chik]Ten are safe and %¢iure. We have links ￿'1[h the local Children'5 Cent￿. Thi5 enables US to sign[￿[ parenlslcarers lo acliwities within our locality e.g. breast fccdingibaby clinics nutncracy lilcTacy c12ssts for dduits. The objectives set Qui by the board of in].%*es for the year in qU￿10n were.. Coiitiiiue to rewie¥v the challging requiremenis of parenis and caregivers. Coiililluc bcing in siirplus(baiJnccd funds tor alloihir l ) nionths. Coniinue to m(>niior and further revie￿. wr outgoin£.%_ Maintaining ￿rUitInent of new f*milie>. Cunlinuc irnpiuwing uur unlJrttPTtsCthCe dnd physical ￿p￿aranCe. Re¢ruii addiiiftnal Inisieeq. Address our staffing appro4¢h. ihat Can rnrt more ¢ffi¢ienily and ¢osi-effec¢ively. - lJ)ok tor tnoic irulovativc lo tundraisc and mcuuc trtbm thc TLUIbCty building5'. ConlinuE tqFup of rE4erve4 ac£ounL Increase NLW and fet5. ThL Trustccs havc paid duc rLgdrd to guidancc i&sucd by thc Cbarity Cotmnission& guidancc on public ben¢f￿. A¢hievement$ and perforniance We have maintained stability and resili¢nc¢ duTing Ihe last financial vrar. Our (Kcupan¢￿ has reached capacity lor much of ¢li¢ vear and ¢onlillues to Ihnie ar th¢ 65, per ¢Enl tllaTk iesp¢cially import)ni i￿h¢￿ pre-sCh￿ler5 left in JulJlAug qn231. We are now looking at ways of illcfknasing OUT capaiily and supp)rting ihis in the building. Ullfortunalelv. Ollr finance tnat]ayer left in 202213 and we have not yet tully replaced this role. however, the manayement team have hared ￿lated tasks in the initrirn and recruitd ihe *rvices of agency sthff and Iwr accountant ro hring our accounis up ts) fpeed. Tlie mallagement team have also Tecruited a new depuly. Abbie Siirling and iogether the) are a Teally strong leatn ai the helTK of OsErf)n)c Hou4c. Wc havc also succcsstullj appoinicd 3 tsus'lccs. This is a]1 great for thc coniinuui growrh Df thc nurscry. In 2023, the governmeni announced plans io provide fvnding for under 2's, which come& inio pla} in April ?0)4. We will ne￿ t keep an eyt oil ihis and how it affeLIs the funding the nursery will rective io support Iliis iniliaiive. In Ilie Meantij￿e. WE have been ble 10 top up rcbcrvc5 01'cr Ihc last year. wliicb will ullimaiily irnprovi thc nurscry's findjicial profilc going torw'ard. In linc Ivirh inflation M'e rai8ed wageq it) April 2023 bv (10.50/0) In a com￿1][7ve mthikeiplace ￿,here recn]ithieni 1.% difficult and the ¢081 of living is getting easier. this Iqecision slK)uld hopefully help us keep up with a rulisii¢ market value. We will look ILI review this again this April. In Ihe last 14 monihs. Oqborne House has pui f(Jcus on the appearamce and faciliiies, by Coniinuing with volunteer-led clean-up sessioiis, Chopping the trtts back and gerteralls, getting tq) of the out91de space. Wc arc Luntinuin¥ to nKtrllitvr and TCVLCW our tlnanaal vul1￿k in ord¢r io btrak" cvcn or a piofit fur 2-3 ycars bcfLllC wc will bc on.4ideied for other T[￿rtga￿Te tKoducts 1&5 in taking out a loan again51 a more U￿￿{al2 valuation of the building_l This leave￿ u with some decisions io make in tlie coming )'¢ars arnund ]yaying off d)¢ rtmaining ainount. The plavback of this r¢vi¢w is available in s£paratL doLumcni. We have taktn practical 4teps lo streamlin¢ oulgoingR niaking fair and infornied decI￿10n￿ in relation to fe￿ and staff m&nageiMenl, 111 whal continue to ￿ Unp￿cede￿*d tirnes. The c051-of-living increase and peri(wJ of recession has seell some caTeful consideTalio around hirillg dnd rcplaLJn¥ We updated our busine￿ plan during QI 2023. with goals and objeciives which enable us to coniinue io work oil areas of itnproveintnt and grow the business. In Apiil 2073 wt illcrea￿ed f¢ts by I￿10 in order io fund wage incredsts line with the Natiot￿l Living Wage. Financial review The results for the year ended 30 Sepiember ?0?3 aTe summarised In the staiem¢rti of financial a¢tii'ities tsn page 9. The rtei surplus for the year is £17,832110?1- sutplus of £25.101) a]Kq unr¢siri¥%¢J reserves sX(KxI at £266.48612022.' £248.654) of which £167,531 is In respect of a pre-FRSIO? ieTr"alualion ol-the freehold prOp￿rtY_ Prlnclpal fundlng sour¢es The principal fi]nding soufLes for the charity. apart from fees for serviee& is currently grdnt income Iron] Sheffield C'ity Coullcil. Reserve policy It iq the poliev of the eharity to build up the unrestricted hnd4 to a lekel ￿'hich equaieg to approximately 3 Jnonth% unreraliciii in Ihc irddinb position in the short to mediujn terni and eftorts continue io reduce costs wherever possible. Small company provisions Thiq report ha% been prepared in accordance w'ith the pro￿.1£i￿n* applicable ro eornpanies eniiiled io the srnall c4)nipanie8 exemption. The trusieeg, annual report was approN'ed 21 June ?(1?4 and signed on behalt-of the Ix)atd of In]s1e¢s by- A Ivilloughby T￿￿1¢e Osborne House Community Nursery Ltd Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Osborne House Community Nursery Ltd Year ended 30 September 2023 I report to Ihe Irusiees on my examination tsfihe fin#n¢ial staiements of Osborne House CThnmunity Nutsery Lid {'Ihe ¢haritYI for the year ended 30 Svpternber 2023. Rèsponsibilities and basis of report A5 lh¢ 1ru.￿lee8 of the cnTnpan>' land alsn Its dirtcloTS foT Iht Pur￿)￿ of rTrrtpny law'} you are i¢$￿￿81b1¢ for the preparation of the rinatLcial slal¢Jllenls ill acLordance with the requirenKnis of the Companies 21K16 (Ihe LfA16 Act'l. Havin¥ sutisficd mysclf that thc accounts of thc cotnpany arc nol rcquircd to bc a)Ldired ulldcr Part 16 of thc 2CQ6 Act and arc cli¥iblc for independent examination. I report in respect of my examinalion of the ehan'ry's accouThis carried out under sectllL 11 145 of the Charilie5.4cl 2UI I I'ihe 2UI l Act'l. In carrying out my e.xamination I hav¢ followed ihe Directions by th¢ Charitv Commi$5ion Ut￿er section 14515llbi of thc 2011 Act. Indepgndènt examinerfs sL*menl Sinie ilie ehariiy'q gros8 income exceeded £250.IM)O )'OilT examither must be a member of a b(Mtv li%tL41 in section 145 of the 2011 Acr. l coiifirn) thai l am qualified io urtdertake the examinaiiort b¢¢aus¢ l am a member of the Inilitllie of Chartered Ai¢ountanrg Ill Eii¥luIJ¢J thIJd Wiilrs IICAEN&'I. svlijili Is vfdjr liblul iKMIl￿. I have cotnpleted rny eianiination. I confiTtn that no tnatteTS haye cowne to Tny att¢nlion in conn￿tiOn ￿'1th the ¢xatnination giving me io believe.. l. accounting records were not kept in iespect of the charitv as required by Sectio￿ 386 of the 2¢M)6 A¥t- or 2. Ihc tinancial qiaien]ents do not accord with rhose records: or 3. the finaiieial Statements do [￿[ comply wilh the accouniing requirements of section 396 of the 2(K>6 Act oth¢T than anv requirement that the accoull15 gile a 't￿e and lairf View which is noi a nutier con5idetr41 as part of independelli examinaiion; or 4. the fuiancial statement5 have noi been prepared in accordance wilh the n]ethThls and principles of the Staienieni of Reconunended Praciice for acLounring and reporting by charities applicable io ehariiie% preparing their aiCOUnts ni accordance with the Fina￿la1 Re￿rtIng SL￿dard applicable in the UK and Rtpublic of Ire12nd IFRS 102). I have no concerns and ha￿'e eome across no oiher Illa￿er5 in conneciion willi the exainination to which aneniion should be drawn in this Tewn in order lo enable a proper undersranding of Iht accounts to reached. Stephen Allen ACA FCCA Independent Eiaminer Omeg2 Collrt 364-366 Cemetery Road Sheffield Sl1 8Fr 21 Jun¢ 2Q24 Osborne House Community Nursery Ltd Company Limited by Guarantee Statement of Financial Activities (Including Income and expenditure account) Year ended 30 September 2023 2023 2022 Unrestricte fi)nds Total fvnd$ Total funds Note Income and endowments DoThaiions and le¥&cie Charithble acliYitie5 83J07 83J07 91,44.I 256.300 27 303.514 303.514 472 Invesiinenl inLome 472 Total Income 381293 387.293 347,770 Expenditur• ExpttKlilure on chatitabl¢ activities 369.461 369.461 322.669 Total expendi￿re 369.461 369.461 322.(￿9 Not income and nat movement in funds 17,832 17.832 25,101 Rtrconciliation of funds Tuktl funds. brought forwatd 248.654 24&654 223,55.1 Totsl funds ¢arrl•d forward 266.486 26&486 248,fy54 Thc stalctnctjt of fi￿(la1 activitics includES all ¥ains antl in ihc yw_ All income and expenditure derii'e from Cottiinuing aClii'ilies_ Osborne House Community Nursery Ltd Company Limited by Guarantee Statement of Financial Position 30 September 2023 2023 2022 Fixod assots TallgiblL tixid assets Current asset$ 14 294.466 295,962 Dtbior 15 3Jl 16.995 Ca4h al bank and in hand 9AiOO 73,483 9fy4Jl YU,478 redltors: amounts lalllng due wlthkn one year 16 21L284 33.706 N•t current aSS￿S 7A147 56.772 Total a55ets less current liabilities 371K613 352,734 Creditors: amounts lalling due after more than one year 17 IIM.1 ry7 104.080 Nel assets 26fi486 248,654 Funds oftha charity Un1¢5tricted ￿lid5 26&486 248,654 Total charity funds 19 26&486 248,654 For the year endJn¥ 30 SeptembeT 2023 the chant) was entitled to exemption froTn audjl under stttion 477 of thE Cotnpanies Act 2(Jfl0 Telaiing 10 stnall COTnpanies. DiTeclor5' responsibililie&-. The niembers liai'e noi required the cotnpHny to obtsin an a￿]11 of lis financial statemen15 tor the ycai in question in accordance willi S￿lI0n 476 The direLlors ackno￿[edge their responsibilities for complying with ihe requirements of the Act with respect lo acLouniing records and the preparalion ot fjnancial siaiements. Thtse finaThcial 5tatemenis have been prepared in accordance with the provisions applicable to companies subject to the siiiall cotnpanies, r£gime. Thcsc fjnancidl sldtcmcnls wcrc dpprovcd by board of outhoriscd (or issut on 21 Juni 2024 , dnd ￿ signcd on bchdl( of ihe board by.. A Il'illoughby Tniflee Osborne House Community Nursery Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2023 1. G•n•ral infomiation The iharity is a public benelit entity and & private tompany limii¥d b) guardniee, rvgistei¢d in England and Wales and a regisiered charity In Eiiglathd and Il'ales. The address of the regisletEd office is 5 ￿limIts Road, Sheffield, S6 4GJ. 2. Statement of ¢ompllance Thebe linanLial siatern¢nis hawe been pre￿red in compliance with FRS 102, Th¢ Finan¢ia] Reporting Standaid appli¢abl¢ in the UK nd tlic Rcpublic of Ircland,. thc Staictncni vf RcC￿￿t￿C￿ded Practicc ¢4)plicablc to chariiiLS pfcpdTing thcir accounts in accordancc with the Financial RepDrting Standard aprlicable in the UK and Republic of Ireland IFRS 1021 IChaTities SORP (FRS 10211 and the Companies Act 211U6. 3. Accounting policies Basis of preparation The financial statemenis have been prepared on Ihe hisiori¢al ¢051 basi.& as M￿lfied by the revaluation of ¢en2ith financial ass¢is and liabilities and I￿￿.¢$¢Ment prO￿nIeS measured at fair value IhTough iwome or exwnditure. Thc tinancial staicnicnlb arc prcpÉircd in bt¢din¥. whieh is th¢ funciiondl ¢urr¢rtcy of thc ¢niity. Golng ¢on¢ern Th¢re are material uncertainties alM)ui Ihe charity's abilily lo continue. Disclosure exemption5 In line wilh the Lharities SOIiP IFRS1021 u￿laIe Bulletin I". (al Nts cash flow s￿ement ha% been presented for the company. Judgements and key source$ of e$limatlon un¢ertalnty Tlie pr¢para¢ion of the Iinantial statements r￿U]r¢S management to make juJgements, estimates and assumption) that affe¢1 the ounls Icpurtcd. ThcsE tslim&tcs jud¥cmtllls att eotitinuallv Ic%.ic￿.cd and arc kn.cd un txpciKncc and uthcr tact0￿ Including eXTKclats(In.s of future EvenLq Ih31 ar¢ iKlieTr"ed tfi be TvJwDable under the c1￿Ul￿E￿Nce5 Fund •¢¢ounting UnreslriLted fundb- are availablt for use al the discretion of the trustees ro further any of Ihe iharily s putFrf)s¢¥. Desigiidted tund5' ure unrestricted fund% eaffliaiked by the trustee4 for panicular fiilure proje￿ or comrnim]eDI. RtStricted funds ate Subjected to reqtiictlollq on Ihtir expendi￿re dtelartd by Iht donor or ihrouy?h the itnns of an appeal. atN4 fall inio otie of N'o sub-cla&%es.' restricted incotiie fullds or endowment funds. Incoming rnsour¢•s All incoTning re50urc¢s are inrludtd in th¢ staltJnenl of linarKial acti￿711¢5 ￿h¢ll entitlement has pa￿d to the charity- it 15 probable thai Ihe economic b¢n¢fiis assoiiJt¢d with rhe t￿￿SaCtIon th'ill flts￿. 10 ihe ¢h#nis' alld Ihe amounl can be reliably Tneasured. The following specitic p)licies are applied ro particular categories of income-. income frorn donations or grants 15 recognised when there is evidence ot entitlement io the #ift, receipt is probable aDd its aniount can be nieasured reliably. legacy inconie i5 reco¥lljbed when receipt is probable and entiilement is t￿tablIShed. iNcorne froTn donatd gr￿£ is measured at the fair value of the unle.￿5 thi% i. impractlLal io Tneasure reliably. in which iase the I'alue is derived frotn the cosi to the donoT OT the estimaitd resale value. Dollated f&cilitiC5 scrviccs drc rcco¥lliscd it) thc accounts when rcccivcd if thc i'aluc can bc rcliably Jncasurcd. No amounts arc includcd tor the coniribuiion of general volunreers. income from conrracis for the supply of %eTrices iq recognised wirh the delivery of the Lontracied service. This is classifitd as unrestricted funds unless ihtre is a contractual requirement for il to be spent on a partiC￿lar purposc and iciurncd if unspcnt, in which it may ￿- rcgdrdcd &% rcstrittcd. Re$our¢es expended Expendiiure is iecognised on an a¢¢n￿lS basis as a ljability is incurred. Expethdilurt includes any VA T which ¢annoi be fully recovered, and ib LI￿1￿billed UTKqer heddin¥s vf the 5tdtetnent of financiiil activilieb tv whilh it Telaie5_' expendiluie raising fundb. Includes IhE ¢Ors greater than l year Net a55et5 248,654 248,654 This document was delivered using electronic communications and authenticated in accordance with ihe registrar's mles relating to electronic fomi, authenticatior and manner of delivery under sectioi) 1072 of the Companies Act ?006.