2024-03-31-accounts - National Day Nurseries Association

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National Day Nurseries Association (A charitable company limited by guarantee)

Financial Statements for the year ended 31 March 2024

Company registration No. 03738616

Registered charity No. 1078275 (England & Wales) SCO40610 (Scotland)

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association

Contents Report of the trustees(including directors’ report) Report of the independent auditors Charity Statement of Financial Activities Charity Balance Sheet Charity Statement of Cash Flows Notes to the accounts	Page
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Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Name
Company number
Charity number
Registered office
Scotland office
Wales office
Website
Auditor
Bankers
Solicitors

National Day Nurseries Association (NDNA)
03738616
1078275 (England and Wales) / SCO40610 (Scotland)
National Early Years Enterprise Centre, Longbow Close, Huddersfield, HD2 1GQ
The Mansfield Traquair Centre, 15 Mansfield Place, Edinburgh, EH3 6BB
3 Connaught House, Riverside Business Park, Benarth Road, Conwy, LL32 8UB
www.ndna.org.uk
BHP LLP, New Chartford House, Centurion Way, Cleckheaton BD19 3QB
NatWest Bank, Commercial Banking, 2ndFloor, 8 Market Place, Huddersfield, HD1 2AN
Lupton Fawcett, Yorkshire House, East Parade, Leeds, LS1 5BD

Board of trustees

The directors of the charitable company (the charity) are its trustees for the purpose of charity law and throughout this report are referred to as the trustees. The trustees report includes requirements of the Directors’ report as required by company law. The trustees who served during the year were as follows:

Sarah Steel (Chair) Tina Jones (resigned November 2023) Hazel Moody Courteney Donaldson Jane Haywood (Vice Chair) David Smyllie Ann McEwan (resigned November 2023) Dave Poulsom (Treasurer) Tracey Storey (resigned August 2023) Sally Bonnar (resigned February 2024) Philip Siddell Lesley Dawson Susan Hill (appointed November 2023) Nikola Masters (appointed November 2023) Company Secretary and Chief Executive Purnima Tanuku Senior Management Team Dr Sara Bonetti Jonathan Broadbery Cara Brundle Gayle Seekins Alan Wadsworth Stella Ziolkowski

Qualifying third party indemnity provisions

The charity purchased insurance for liabilities incurred by its trustees in carrying out their duties.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Structure, Governance and Management

Governing document

National Day Nurseries Association is a company limited by guarantee governed by its Memorandum and Articles of Association dated 20 September 1999 with the latest amendment in 2022. It is registered as a charity with the Charity Commission in England and Wales and with the Office of the Scottish Charity Regulator in Scotland .

Appointment of trustees

The Strategic Board currently comprises 10 trustees including a National Chair and Vice Chair. They represent the membership across England, Scotland, and Wales. Four are co-opted from wider sectors to support the work of the Board and add special expertise.

At every Annual General Meeting, one-third of the Board is subject to retirement by rotation. Nominations are invited through advertising in Nursery News and elections held to appoint new trustees. If there are no other nominations and the retiring trustee is willing, they will be reappointed for a further term of office with agreement by the Board.

Trustee induction and training

New trustees undergo an induction to brief them on their legal obligations under charity and company law, the content of the Articles of Association, the decision-making process, the business plan and the recent financial performance of the charity. They meet key employees of the charity and are encouraged to attend external training events as appropriate. A two-day board strategy event and training is held annually.

Organisation

The strategic board administers the charity and meets at least 6 times a year in person or virtually. Three policy advisory boards, made up of providers and early years experts, advise the strategic board on policy issues specific to the 3 nations. The Chief Executive, Purnima Tanuku, is appointed by the strategic board to manage the day-today operation of the charity. The Chief Executive has delegated authority for dealing with matters such as finance and employment.

Risk management

There is a robust risk assessment and management process established. This includes:

Reviewing and monitoring both the strategic and operational risks the charity may face.
Establishment of systems and procedures to measure and control risks identified.
Implementation of control measures to minimise any potential impact on the charity if risks materialise.

A ‘traffic-light’ risk reporting system is in use linking the organisation’s performance monitoring framework and financial performance.

The principal risk and uncertainty facing the charity is a volatile economic climate affecting both the sector and NDNA. High inflation impacts business costs and household expenditure and may impact demand for providers. At the same time, public spending cuts following the pandemic could result in funded childcare places coming under pressure and a reduction in income from central government and local authority contracts, along with increased competition for all services and contracts. Our strategy for managing this risk has enabled us to achieve a balanced portfolio of income streams by focusing on developing a wider customer base in the UK and beyond and building a portfolio to suit their needs.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Objectives and activities

NDNA’s vision and mission

The charity’s vision is for all children and families to flourish through high quality early childhood education and care.

The charity’s mission is to lead and empower the sector so that nurseries and the early years workforce deliver sustainable, high quality early childhood education and care.

NDNA’s aims and objectives for the year

The strategic aims NDNA set out for 2023/24 are:

Promote and defend the value of early education and the providers & practitioners who deliver it.
Represent members, as the strongest voice of the early years sector across the UK.
Influence policy development and delivery by lobbying governments in England, Scotland & Wales.
Provide access to the support, products, and services the sector needs to continually improve quality and practice, in the best interests of children.
Manage a strong and sustainable charity, futureproofing NDNA so we can continue to support our Vision, Mission, and Goals.

Promote and defend … – NDNA’s #Firstfiveyearscount campaign continued to celebrate the early years sector and all they do to make the first five years of a child’s life count. This campaign aimed to increase understanding of the importance of the early childhood education, improve the perception of the early years workforce as educators of children aged 0-5, address the recruitment and retention crisis and boost the positive feedback the workforce receives. The campaign featured a promotional hub video, careers information, toolkits for employers and regular sharing of positive messages via the Super Stars sub-campaign. By 31[st] March 2024, this campaign had reached over 160,000 people.

– … voice of the early years sector … As the voice of the 22,000-strong nursery sector, NDNA is an integral part of the lives of more than a million young children and their families. The charity provides information, training and advice, which supports nurseries - and the 370,00 people who work in them - to deliver world-class early learning and childcare. Working closely with local and national governments in England, Scotland, and Wales, we deliver a comprehensive programme of policy work. Conducting our own research, we campaign on the cost, choice, and quality of childcare to benefit children, their families, nurseries, and the economy.

Influence policy … 2023-24 was a crucial year for the early years sector. The Chancellor’s Spring Budget in March 2023 announced investment of £4 billion to deliver a phased programme of increasing funded childcare to all children of working families from the end of maternity leave to starting school. Ahead of the expected General Election in 2024, NDNA brought together a series of academics, sector experts, policy think-tanks, parent groups and providers for a series of focused roundtable discussions over the summer of 2023 and presented the findings in a Blueprint for Early Education and Care. At the same time, inflation continued to place upward pressure on providers’ operating costs with research conducted across England, Scotland and Wales used to inform funding discussions with respective Governments. This saw pledged uplifts of £500m in the Spring Budget 2024 for funding in England to rise in line with inflation and wages. The Scottish Government pledged £16 million to improve funding rates by a minimum of 7.6% and the Welsh Government announced plans to review funding rates in the coming financial year.

– … support, product and services … The range of services delivered by NDNA includes membership support services; accredited and non-accredited training programmes both face-to-face and online via the NDNA Early Years Development Zone, live virtual classroom, and webinars; events and conferences; publications; business

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

support; Quality Counts accreditation and Millie’s Mark, Physical Activity and Nutrition Coordinators (PANCos) and Maths Champions. MyNDNA and the NDNA Early Years Development Zone provide the early years workforce with direct access to up-to-date training and support. Research evidence tells us that ongoing development and support helps practitioners to improve the quality of their practice, which in turn improves children’s developmental experiences. For this reason, in 2023-24, NDNA also invested in the development of the Institute of Early Years Education. We also provide information and support to child-carers and parents via our website and myNDNA.

– Manage a strong & sustainable charity … Effective delivery of the charity’s mission is only possible if we are financially sustainable to support the sector. We manage our resources carefully and everyone plays an active part in the business planning process. The strategic challenges facing NDNA are discussed at Board level and all staff are involved in developing the business plan. Ultimate responsibility for decision-making rests with the Board, supported by the Chief Executive and Senior Management Team.

The charity has a wholly owned subsidiary, NDNA Services Limited.

NDNA does not fundraise from the public.

Shaping the future of early education and care

While inflation reached a peak in October 2022, this year was dominated by rising cost pressures on early years providers as governments in England, Scotland and Wales all tried to address the cost-of-living crisis facing families with promises of more support on the cost of early education and care.

In England the Government put plans in place to deliver a phased increase in funded hours to working families. This meant families with children aged two and over became eligible for 15 hours’ funded childcare over 38 weeks of the year from April 2024. This entitlement was extended to children from nine months of age from September 2024 with the final phase extending the entitlement to 30 hours for all these children from September 2025. DfE estimates state that this will mean delivering 85,000 additional places and will require 40,000 additional staff in the sector by September 2025.

The Scottish Government’s programme for Government in September 2023 committed to continuing to expand the funded offer to two-year-olds, starting with those on the lowest income. It also identified six areas to pilot childcare systems from nine months to the end of primary school.

The Welsh Government continued to deliver the planned expansion of funded childcare to all two-year-olds through the Flying Start programme with the final phase of the expansion expected to start from 2024/25.

To ensure the pressures on providers were well understood against a backdrop of expected expansion of offers to families, rising demand and ongoing increases to operating costs, NDNA conducted a series of research with providers about costs, staffing challenges and sustainability. These showed that, 83% of providers in England, 70% in Scotland and a shocking 97% of those in Wales said that the funding they receive for three and four-year-old funded places do not cover their costs. As a result, a worrying 91% of respondents from Wales said they were operating at a loss or just breaking even. The figures were 73% of English nurseries and 70% of those in Scotland saying the same thing.

With ongoing workforce pressures facing providers NDNA also conducted research on readiness for the expansion in England and likely demand. We found that three-quarters already had a waiting list for one and two-year-olds and 74% said they would take on more children if they had the staff but were unable to recruit them. Space was also an issue with 67% saying they would need to physically expand to accommodate more children but access to capital funding would be needed to support this in most cases.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

In previous years NDNA had given evidence to Parliament about issues with childcare funding under Universal Credit and supported a parent’s legal challenge to the up-front payment requirement. This approach meant a parent returning to work would have to cover the upfront childcare costs of a deposit or first month’s payment and then claim it back. This created a barrier to work as well as causing cash flow problems to settings if payment deadlines were missed or Universal Credit payments delayed. Almost 40% of NDNA members agreed that this requirement had stopped a parent on Universal Credit from being able to take up a place. The Department of Work and Pensions agreed to change this from June 2023 while at the same time increasing the cap on the amounts parents could claim to reflect rising costs.

Other NDNA research highlighted a 50% increase in closures of nurseries in England in the 12 months up to September 2023. Our annual FOI request to local authorities found that, in the financial year 2021-22, £46 million of early years budgets remained unspent by councils and the main use of these unspent funds was to off-set deficits in other parts of the schools budget, especially the High Needs Block. This has been an issue ever since the funded childcare policy was expanded and shows the need to tackle overspends on SEND and for reform of the childcare funding system. NDNA responded to a DfE consultation on the Early Years National Funding Formula.

Across the year NDNA supported our members to engage with consultations and responded on their behalf to three consultations in Scotland, three Consultations in Wales and six consultations in England. These ranged from funding formulae to regulatory complaints processes, tackling child sexual abuse and changes to the EYFS. We also presented evidence to the Low Pay Commission and the Migration Advisory Committee on workforce challenges and pay concerns. Representatives from NDNA also gave evidence to two Parliamentary hearings in Scotland, one each in England and Wales as well as a National Audit Office inquiry into support for children from deprived backgrounds. This led to several NDNA policy proposals being included in these reports.

Ahead of the expected General Election in 2024, NDNA brought together a series of academics, sector experts, policy think-tanks, parent groups and providers for a series of focused roundtable discussions over the summer of 2023 and published the findings in a Blueprint for Early Education and Care. This was endorsed by several other charities and organisations and was presented at both the Labour and Conservative party conferences to get decision makers to engage with the challenges for the sector as well as the solutions and priorities for the future. NDNA will continue to engage with members to turn these principles into identified policy asks for any future governments in the UK and devolved nations.

Achievements and performance

The ethos behind NDNA’s charitable vision and mission is to support excellence in the early years workforce, whilst driving quality and sustainability in early years enterprise. To achieve this, our approach is to ensure that the child is at the centre of all that we do to support business and workforce improvement.

High quality, evidence-based practice underpins all NDNA services and activities that NDNA provides. Our Quality Statement clearly defines what represents quality in early years settings. We support our members and the wider early years community to focus on delivering the highest quality provision for children, whilst remaining sustainable as businesses, charities or not for profit enterprises.

We passionately believe that children should be at the heart of all policy making and that quality can only be achieved when nurseries are sustainable businesses, with dedicated leadership and management. Leadership provides a vision for the nursery and supports practitioners to be reflective individuals with a commitment to continuous professional improvement. In turn, this helps to ensure that every child in the nursery community gets the best start in life. This includes children from all backgrounds and abilities where early assessment of their needs, capabilities and interests helps to secure any additional help they may need.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

NDNA’s Impact on the Workforce

Throughout this financial year, the sector continues to experience financial constraints due to increased costs, specifically salary costs due to several reasons, including the soaring increase in NMW/NLW and living wage. Staff turnover and an inability to recruit to vacancies continues to compound with the sector seeing turnover rates of approximately 35% in many instances. This, therefore, decreases the ability to release staff for training, other than mandatory training which they are required to do by law. Due to these factors, access to quality, affordable, relevant short courses continue to be more important than ever to ensure that staff have the skills required to educate and care for our youngest children.

An abundance of research tells us that high quality childcare, delivered by highly qualified practitioners, is essential for the development of children in their earliest years. However, we continue to hear from our member nurseries that they are struggling to recruit and retain staff qualified at the levels they need and want, and this is reflective in take up of NDNA training.

Research confirms that the first five years shape each child’s future health, happiness, growth, development and learning achievements, so the continued professional development of practitioners is essential to ensure children get the best start in life. To break down barriers to accessing development, we continue to review our offer providing a range of delivery modes to ensure our offer is accessible to practitioners in the way that best suits their individual needs. NDNA’s analysis of sector intelligence, surveys and a two-way dialogue with our members allow us to review and update our range of products and services and to ensure that training remains up to date with best practice, research, and sector need.

High quality, evidence-based practice underpins all NDNA services and activities that NDNA provides. We support our members and the wider early years community to focus on delivering the highest quality provision for children, whilst remaining sustainable as businesses, charities or not for profit enterprises.

Training and development

This year NDNA has developed an additional 29 evidence-based training and professional development products to support high quality early years practice in response to the needs of members and practitioners. We have supported 34,146 practitioners with training and professional development, with an overall satisfaction rate of 98%.

“The training was very informative and has definitely boosted my confidence within my role.” (Effective Team Leadership) Treehouse Nursery

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

In February of this year NDNA successfully secured centre accreditation with NCFE CACHE for the delivery of the level 4 PANCo (Physical Activity and Nutrition Coordinator) programme. This accredited award is for individuals within nursey setting who champion physical activity and nutrition within their setting. To the end of March 24, 10 practitioners signed up to the award.

Due to financial constraints that the sector is facing, NDNA have also supported the workforce with 8 free training courses covering a range of topics. A total of 6,532 practitioners accessed our free training.

Alongside our support programmes, NDNA continue to provide the sector with up-to-date publications, policies and procedures and online resources, such as factsheets, in line with changes to policy, legislation and evidence based best practice. A total of 11,017 publications and 2,767 factsheets accessed by the sector.

Millie’s Mark and Quality Counts

Quality improvement is the role of the setting as a whole, including all practitioners within the nursery. We believe passionately in supporting our members to be able to reflect on what they do.

The safety and security of children is paramount and a focus for NDNA delivering Millie’s Mark. This year 132 settings took up the Mark and 134 nurseries successfully achieved the standard, demonstrating they go above and beyond their regulatory duty. In total there are now 546 settings signed up to the Mark in England, 5 in Wales and 19 in Scotland, with 1134 settings being awarded the Mark since it was launched. This year we worked with the Welsh Government to expand Millie’s Mark to settings in Wales in line with the revision of the National Minimum Standards.

“Millie's Mark has greatly improved our nursery's safety and first aid practices, making both staff and parents feel more secure and confident.” Little Avanti Day Nursery

During the 2023-24 financial year 16 nurseries have signed up to Quality Counts certification. There have also been 6 sign-ups for the Online Audit and Review. Over the year NDNA have awarded 14 settings, 7 awarded and 7 at Platinum level.

“The whole process was a very positive experience. The audit encouraged the entire team to reflect on our strengths and areas for improvement, which helped us refine our vision of high-quality child care. The whole team was highly involved in the process, positively impacting their motivation” Annabels Early Years International Kindergarten

Champions programmes

NDNA’s Maths Champions programme builds the knowledge of nursery practitioners to support children’s early mathematical development. In 2022/23 the effectiveness trial was concluded within one hundred and thirty-four nurseries and 1,034 children took part in the effectiveness trial. The final report from this study was released this year https://ndna.org.uk/early-years-maths-support-ndna-maths-champions-research-trial/

NDNA were absolutely delighted that the research from the two-armed randomized control trial of Maths Champions. Key findings demonstrating that.

Children in nurseries allocated to the intervention group made, on average, the equivalent of three months’ additional progress in maths attainment compared to children in control nurseries. This result has a very high security rating.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Children in nurseries allocated to the intervention group made, on average, the equivalent of three months’ additional progress in language attainment compared to children in control nurseries. Children eligible for Early Years Pupil Premium (EYPP) in the intervention nurseries made, on average, the equivalent of six months’ additional progress in maths attainment compared to children eligible for EYPP in control nurseries. These results, while promising, should be treated with more caution than the analysis on all pupils as fewer children were included in this analysis.
The results from the implementation and process evaluation support the majority of the components of the logic model, specifically the training and support, the MC and DMC roles, and the action plans, suggesting these should be maintained in the future.
The implementation and process evaluation found that the commitment of the MC and DMC is crucial to successful implementation and that the roles can be interpreted flexibly depending on the needs of the nursery and the choice of nominated MC and DMC.

Evaluation of the Programme demonstrated that 100% of Maths Champions say their confidence increased in supporting children's mathematical development.

Following the success of the study Maths Champions secured additional funding from the EEF via the DfE Accelerator Fund to provide Maths Champions to an additional 405 nursery settings. Across England, focusing on the governments Educational Investment Areas. This work will continue into 24/25.

NDNA also secured funding for wider deliver, specifically within the 18 most deprived boroughs of London supported by the Mercers’ Company as trustee of the Charity of Sir Richard Whittington. This additional funding allows NDNA to support an additional 150 nurseries (plus 50 undertaking Communications and Language Champions) over the next 4 years.

Based on the research findings from Maths Champions, and through funding provided within the Mercers’ Early Years Special Initiative funding, NDNA is also carrying out a full review, pilot and delivery of our Communication and Language Champions programme, working with Leeds and York University who will carry out a feasibility study to measure the impact of this programme.

Institute of Early Years Education

A plethora of research tells us that practitioners who are well qualified and constantly strive to improve their knowledge and understanding of best practice, offer higher quality experiences for children which in terms has a positive impact on their attainment and future lifelong chances. It is because of this that NDNA continues to develop training and support services for practitioners. This year we introduced the Institute of Early Years Education at an event in October 2023. This service provides a wide range of professional and personal support to practitioners that will support them with their own ongoing professional development. The Institute officially launched on 7[th] August 2024.

Free Member Events, Resources, and Webinars

Free member events and inspirational ‘Afternoon with...’ sessions in 2023-24 were attended by 913 people. NDNA also delivered a series of free ad hoc webinars and consultation events, which were attended by 290.

The NDNA Conference in June 2023 saw delegates join for sector focussed sessions and inspirational speakers, within separate leadership and practice streams.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Childcare Works

In Wales, NDNA Cymru has been successful in securing ongoing funding for the project to run in different areas in 2023-24 including Cardiff thanks to support from Moondance Foundation and through the UK Shared Prosperity Fund in Conwy with a further project in Pembrokeshire secured which commenced from April 2024. Under the project, NDNA supports participants (who are not in employment, education or training) with a 4-week training programme, followed by 12-week placements as Trainee Nursery Assistants, in nurseries.

NDNA has now been successful in securing funding, granted by the Local Employability Partnership, for Childcare Works to run in East Ayrshire, making it the first childcare works project in Scotland. This commenced in March 2024 and ran until June 2024.

International

Overseas nurseries that are looking to implement and follow the EYFS recognise the value that NDNA can offer and we have international members from 15 different countries. We continue to provide services to members overseas and continue to engage with international stakeholders, for the benefit of children and families.

From overseas customers, we continue to see particular interest in our Quality Counts programme. In March 2024 we were invited to deliver sessions at a conference in Saudi Arabia, demonstrating to nursery leaders and officials how these standards can support quality improvements in childhood education and care.

Within this financial year, 2 settings have signed up to the certification mark from Thailand and 3 international settings have been awarded the Quality Counts certification mark, 2 at platinum level (from Thailand) and 1 awarded (from Uganda). In addition to the above, we have had 2 international sign ups from UAE and 1 from Oman this year.

Membership and Retention

A strong membership base is critical to NDNA’s mandate as the voice of the sector. The strength of our membership informs our work and our priorities, which are driven by the evidence we gather from our members.

NDNA members are highly engaged and, despite the challenging environment and growing concern over closures and financial pressures, NDNA’s membership has grown throughout the year. Retention of members remains high, which indicates that members are getting value from their membership, see a return on this investment and are willing to renew, even in the toughest of times.

NDNA draws on the experience of our members and our own research, as well as analysis of the early years and childcare sector, to ensure we are the voice of our sector. We work across key stakeholders and decision makers in England, Scotland and Wales to advocate for policy approaches that support the charity’s objectives and our members’ needs.

Member Engagement

NDNA networks provide nursery owners and managers with the opportunity to meet and form a united voice at a local level. These networks, led by volunteer Network Officers, provide regular opportunities to share information, ideas and concerns whilst improving NDNA’s reach and the breadth and depth of our insight.

At the end of March 2024, NDNA had 44 active networks across the UK. We continue to hold regular network chair meetings, which have been consistently lively and well attended. NDNA’s networks provide the insight that NDNA needs to better understand and represent the sector. We would like to thank all our networks for their continued engagement with NDNA in highlighting local issues and challenges.

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National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Members are highly engaged and in 2024-24, 95% of members overall purchased or downloaded a product from the NDNA website. Member events were delivered across each of the three nations, using a combination of remote and online delivery to enable nurseries and their workforce to benefit from updates on policy and practice, as well as professional development and networking. We worked with our corporate sponsors to deliver up to date information on topics such as health and safety and employment law.

In addition to NDNA’s usual member event schedule, free, virtual ‘afternoon with’ events with inspirational speakers such as the BBC’s Grace Webb and Ben Kingston-Hughes enabled members to explore topics such as STEM in the early years and the power of play respectively.

“We would also like to thank the National Day Nurseries Association for their advice, support and guidance throughout this very difficult time.” Shining Stars Nursery

Policy Engagement and Campaigns

In England, Scotland and Wales, NDNA has met with Government Ministers, key stakeholders and working groups to provide the latest research, sector views and experiences, particularly in relation to workforce challenges, demand and rising cost pressures. NDNA has used member views and feedback to lobby and shape changes to guidance and secure extra support for the sector. This has included:

Funding – lobbying for:
additional £500 million for funded places in England from April 2025 to ensure rates rise in line with inflation and wages.
an uplift to childcare payments for families on Universal Credit.
Childcare elements of Universal Credit paid upfront
Additional funding to increase funding rates by 7.6% in Scotland
A funding rate review by the Welsh Government
Reduced membership fee for members in Wales.

To support our members and influence public debate on issues affecting early years, we engage with traditional and social media to reach as wide an audience as possible, achieving 197 pieces of national (including broadcast) media coverage for our work and 223 pieces in the trade press covering early years and education.

“I would just like to take this opportunity to thank you and your team for all the support over the years as well as your valued voice in fighting for better rights and recognition to the childcare sector.” Tots n Tykes Childcare

NDNA Cymru

NDNA Cymru remains part of the CWLWM Partnership and representation continues to be key to our work. We are a member of key strategic groups alongside other representative organisations, Welsh Government, Aware, Social Care Wales, Care Inspectorate Wales and Estyn.

NDNA Scotland

NDNA Scotland continues to represent members at key stakeholder meetings and supporting the childcare sector working group on early learning and childcare. In addition, NDNA Scotland is a member of the Education Reform Review Group, Care Inspectorate Safe Staffing Project and the SSSC Codes of Practice Review Group. To support this work, we have been successful in securing continued Sector Representation funding from the Scottish Government.

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National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

We have retained the Scottish Government’s Children, Young People and Families Early Intervention Fund (CYPFEIF) and Adult Learning and Empowering Communities Fund (ALEC) funding for nine years and received positive feedback from the Corra Foundation on the reporting of the achievement of Fund outcomes. NDNA Scotland have consistently met all the requirements for the funding.

NDNA Scotland has a commitment to promoting the rights of the child as the Scottish Government moves towards implementing legislation to incorporate the UN Convention on the Rights of the Child into Scots law from July 2024.

myNDNA

We have 16,834 people registered on myNDNA, our early years and childcare community. These practitioners receive newsletters packed with hints, tips and good practice guides. We have seen continued practitioner participation via myNDNA which has enabled us to enhance our offer to further support the sector.

This free to join, online community continues to provide practical inspiration, activity ideas and resources for early years practitioners to use in their setting. We encourage use of these resources to support practitioners with their own professional development and we believe that myNDNA has had a positive impact on the quality of early years practice and, therefore, improved outcomes for children.

Projects and Contracts

This year, we have continued to work with a range of companies to bring ideas, activities, campaigns and resources to children and parents via our membership base. For instance, NDNA’s popular ‘Healthy Body, Happy Me’ campaign focused on the theme ‘Off we grow’ and took place from 25[th] – 29[th] March 2024. Hope Education sponsored the week, promoting activities to support children’s health and wellbeing. Our daily guides provided ideas for learning and development, including at least one physical activity, plus activities for home learning to encourage families to extend healthy habits to home life.

Sustainability

NDNA’s own long-term sustainability is essential if we are to continue delivering our charitable mission and maximise the impact of our activities.

Financial review

2023/24 has seen us continue to maintain the strong and sustainable position for NDNA as an organisation, whilst also investing some of our reserves in new developments, in line with our charitable purpose. We achieved an overall deficit of £602,619, after investment through our development budget. Our unrestricted reserves now stand at £1,680,744.

During the year, we invested £385,392 out of designated funds.

A further £65,483 has been put into the designated IT fund to invest in additional IT support, plus a further £457,896 into the designated development fund to support our members.

Investment policy

The trustees recognise the need to retain sufficient liquid assets to meet the charity’s short-term obligations. Funds in excess of current requirements are invested in low-risk cash deposits or interest-bearing accounts.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Plans for the future

In England, NDNA prepared for the General Election which took place in July 2024. We took the learning and principles from our engagement with experts, academics, think tanks and providers that helped develop the Blueprint for Early Education and Care and turned these into a practical manifesto for the sector. We developed resources to help providers understand the pledges being announced by political parties and supported them to engage with local candidates.

At the national level we engaged with all parties to promote policy decisions which align with our charitable objectives and organisational aims and values. We worked to ensure that all of NDNA’s work is politically neutral and is in line with our responsibilities under the Elections Act 2022 and the guidance published by the Electoral Commission and the Charity Commission

NDNA will continue to gather evidence from our members to campaign for increased funding for the early years sector. This is in line with our charitable objectives of supporting all children through access to high quality early education and care. To ensure a strong voice across Parliament, NDNA will continue its work meeting and briefing MPs and within the All-Party Parliamentary Group for Early Education and Childcare.

In Scotland, the Programme for Government sets out plans to expand the offer to more two-year-olds and pilot programmes of childcare from nine months-old through to the end of primary school. NDNA Scotland will continue to support Scottish Government plans to make ELC affordable, accessible and high quality. We examine how local authorities distribute the additional £16 million of funding identified by the Scottish Government to improve pay in the PVI sector.

The UNCRC Incorporation (Scotland) Act received Royal Assent in January 2024 and was implemented from July 2024. NDNA Scotland worked with providers to raise awareness of the new legislation and promote best practice in rights based approaches in early years with information, resources and other activity.

In Wales, the expansion of the funded offer to all two-year-old children in Wales entered its final phase from April 2024. This is being delivered by expanding the Flying Start programme which was historically only delivered in the more deprived areas of the country. It is delivered and funded in different ways by different local authority areas leading to inconsistencies. NDNA Cymru will work with members, CWLWM partners and the Welsh Government to address these and ensure the expertise and experience of the day care sector is recognised in the plans for this expansion.

The Welsh Government has indicated plans to review the funding rates in 2024-25 ahead of new rates being announced from 2025/26. NDNA Cymru will work with members to ensure we are able to present accurate research about the true cost of delivering funded places and to support providers in giving evidence directly to the Welsh Government. We will also continue our support work with local authorities to ensure Childcare Sufficiency Assessment work reflects the realities for providers.

With updates the Anti-Racist Wales Action Plan including more information on the support to providers, NDNA Cymru will work in partnership to deliver more resources to support providers and review our existing Policies and Procedures to ensure members have access to the information and support they need. Having piloted Millie’s Mark in Wales we will continue to promote the scheme as a gold standard in Paediatric First Aid for providers in Wales.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Public benefit

We constantly refer to the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

Evidence shows that investing in early years makes a difference to children’s long-term outcomes. To achieve our vision and mission, our support and representation work aims to have a real influence as we help to shape the early years policy agenda for the benefit of children and their families across England, Scotland and Wales. The impact of this is to develop an environment that enables the nursery sector to deliver the high quality education and care, to make a difference to the outcomes for children, whilst also being sustainable businesses.

The practical support and representation that we provide to nurseries help them continually improve their early learning and childcare practice and to be sustainable businesses, which are central to the fulfilment of our mission and vision. The difference we aim to achieve on behalf of children and families include:

Better informed policy development that ensures public spend on early years achieves maximum impact and delivers positive outcomes for children.
Affordable and accessible early education and care for all sections of the community through supporting sustainable childcare including in areas of disadvantage.
Enhanced skills in the early years workforce to be better equipped to provide the high quality of care and early learning that children deserve.
Enhanced inclusion in early years through promotion of good practice.
Support for nursery providers in all areas to promote better outcomes for children and families.
Sector sustainability, enterprise and, as a result, the safeguarding and creation of jobs in the early education and care sector, whilst enabling parents to work and train.
Partnership programmes for economically inactive individuals to give them a solid basis to move into employment.
Parents equipped with an increased understanding of quality in early education and care so they can make informed choices and get the most out of their children’s time in nursery.

Support from our volunteers

The board of trustees gives considerable support to the organisation on a voluntary basis, and we very much appreciate this. Members have also acted in various voluntary roles for NDNA through advising as members of our England, Scotland and Wales policy advisory boards and representing the sector at both national and local levels. Local NDNA networks operate across the country thanks to the time and commitment given by voluntary network officers. There is extensive volunteer activity across all three nations and the trustees would like to record their appreciation and thanks for this contribution, which is of great value to the charity.

Pay policy for senior staff

The Strategic Board set the vision and mission for the organisation, working closely with the Senior Management Team. The Chief Executive, with support from the Senior Management Team, delivers the objectives in line with the vision, mission, and business plan.

All trustees give their time freely and no Trustee received remuneration in the year. Details of trustees expenses and related party transactions are disclosed in notes 7 and 16 (respectively) to the accounts.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, pay levels are benchmarked against pay levels in other charities of a similar size.

If recruitment has proven difficult in the recent past, a market addition is also paid with the pay maximum no greater than the highest benchmarked salary for a comparable role.

Reserves policy

Trustees are under a general legal duty to apply charity funds within a reasonable time of receiving them and to justify the level of reserves held.

The reserves policy is informed by:

how secure the organisation’s future income streams are.
analysis of any future needs, opportunities, contingencies or risks, the effects of which are not likely to be met out of income.
the long-term development and infrastructure, building strategy for the organisation.

The policy is re-examined each year as part of the formal process of reviewing the long-term strategy linked to the annual business planning process.

At the end of the year, the charity is holding total funds of £2,496,150. This includes restricted funds of £87,206, an endowment fund of £728,200 and unrestricted designated funds of £325,103.

Unrestricted reserves excluding amounts designated have decreased (following investment through designated funds) by £558,671 and are now £1,355,641.

There is £135,505 included within unrestricted reserves and £728,200 within the endowment fund, which can only be realised by disposing of tangible fixed assets.

Free reserves have decreased by £557,369 and are now £1,306,462.

Free reserves as of 31 March 2024 represent approximately 8.9 months of operating costs. We need to keep sufficient cash reserves to fund future developments that will contribute to the growth of the organisation, necessary for future sustainability to support the sector.

The board reviewed the Reserves Policy in September 2024, and it is considered as a matter of prudence under the current political and economic climate that NDNA should retain at least 8 to 10 months operating costs in reserves to service commitments, respond to changes in risks and fund future developments.

The challenges for the early years sector continue to be a concern for NDNA as a representative organisation.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Designated fund policy

The charity has set aside funds for building maintenance, further development of our IT platform and for costs for development of services that will support the early years sector and the global community.

An additional £457,896 has been added to the designated development fund, making the balance £300,616. This will be used in 2024/25 for projects to support services to early years practitioners, including the launch of the Institute of Early Years Education.

An additional £65,483 has been added to the designated IT fund, making the balance £17,728. This will be allocated against depreciation of our finance system (which was purchased in January 2019), and our CRM and website (which was launched in March 2022).

The remaining designated building fund of £6,759 will be allocated against depreciation of head office refurbishment that has taken place in the last few financial years.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Report of the trustees (including directors’ report) For the year ended 31 March 2024

Trustees’ responsibilities in relation to the financial statements

The trustees (who are also the directors of National Day Nurseries Association for the purposes of company law) are responsible for preparing the Trustees’ Annual 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 are satisfied that they give a true and fair view of the state of affairs of the charitable company, and of the incoming resources and application of resources, including income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

select the most suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgments and accounting 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;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company, and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company, and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Statement as to disclosure to our auditors

In so far as the trustees are aware at the time of approving the trustees’ annual report:

there is no relevant audit information (as defined by section 418 of the Companies Act 2006), being information needed by the auditors in connection with preparing their report, of which the auditors are unaware, and
the trustees, having made enquiries of fellow directors, have taken all steps that he/she is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

This report has been prepared taking advantage of the small companies exemption under the Companies Act 2006.

By order of the Board

Sarah Geel

Signer ID: 7KNFF9RRJ5... Sarah Steel Chair of the Board of Trustees 17 October 2024

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

Report of the independent auditors to the members and trustees of National Day Nurseries Association For the year ended 31 March 2024

Opinion

We have audited the financial statements of National Day Nurseries Association (the 'Charity') for the year ended 31 March 2024 which comprise of the charity Statement of Financial Activities, charity Balance Sheet, charity Statement of Cash Flows and notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of the charity’s incoming resources and application of resources, including its results, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland';
have been prepared in accordance with the requirements of the Companies Act 2006; and
have been prepared in accordance with the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 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 are further described in the Auditors responsibilities for the 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 financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

Report of the independent auditors to the members and trustees of National Day Nurseries Association For the year ended 31 March 2024

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except for the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information 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 determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the trustees (which includes the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the trustees (which includes the directors’ report) has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the trustees (which includes the directors’ report).

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept by the charitable company or returns adequate for our audit have not been received from branches not visited by us; or
the charitable company’s 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 information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the trustees (which includes the directors’ report).

Responsibilities of trustees

As explained more fully in the Statement of Trustees Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements. Also for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

Report of the independent auditors to the members and trustees of National Day Nurseries Association For the year ended 31 March 2024

In preparing the financial statements, the trustees are responsible for assessing the charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditor under section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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 material 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

As part of designing our audit, we determined materiality and assessed the risk of material misstatement in the financial statements, whether due to fraud or error, and then designed and performed audit procedures responsive to those risks. In particular, we looked at where the trustees made subjective judgements such as making assumptions on significant accounting estimates.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our planning procedures included gaining an understanding of the entity and its environment including the entity's legal and regulatory framework, any fraud indicators and internal control system via both discussions amongst the engagement team and with the trustees. We also evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements including the risk of override of controls.

Based on our understanding of the company and its industry, the key laws and regulations we considered included the UK Companies Act, Charities Act (2011) and relevant tax legislation.

Audit procedures performed by the engagement team included but were not limited to:

Evaluating and testing of the operating effectiveness of management's controls designed to prevent and detect irregularities;
Discussing with the trustees the policies and procedures in place regarding identifying and complying with laws and regulations, and whether they were aware of any instances of non-compliance;
Reviewing relevant meeting minutes;
Identifying and testing journal entries;
Designing audit procedures to incorporate unpredictability around the nature, timing or extent of our testing; and
Reviewing and testing the accounting estimates to minimise potential bias.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

Report of the independent auditors to the members and trustees of National Day Nurseries Association For the year ended 31 March 2024

The primary responsibility for the prevention and detection of irregularities including fraud rests with both those charged with governance and management. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements the less likely we would become aware of such non-compliance. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, intentional misrepresentations or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006, and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company's members and trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company's members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Signer ID: XOYIGFEGDP...

Lesley Kendrew (Senior Statutory Auditor) for and on behalf of BHP LLP (Statutory Auditor) New Chartford House Centurion Way Cleckheaton BD19 3QB

Date: 17 October 2024

BHP LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Charity Statement of Financial Activities (incorporating income and expenditure account) For the year ended 31 March 2024

Unrestricted Funds £ 837 3,523 81,280	Unrestricted Designated Funds £ - - -	Endowment Fund £ - - -	Restricted Funds £ - - -	Total 2024 £ 837 3,523 81,280	Total 2023 £ 86,684 7,844 22,152
85,640	-	-	-	85,640	116,680
729,568 616,971 10,775 391,085	- - - -	- - - -	- - 898,376 -	729,568 616,971 909,151 391,085	801,440 730,654 966,551 318,195
1,748,399	-	-	898,376	2,646,775	2,816,840

1,834,039	-	-	898,376	2,732,415	2,933,520
5,858 600,772 975,057 32,134 267,310 -	451 231,141 78,041 68,625 7,134 -	- - - - - -	- - - 1,068,511 - -	6,309 831,913 1,053,098 1,169,270 274,444 -	5,983 632,142 917,465 1,129,581 194,237 (11,800)
1,881,131	385,392	-	1,068,511	3,335,034	2,867,608
(47,092) (511,579)	(385,392) 523,379	- (11,800)	(170,135) -	(602,619) -	65,912 -
(558,671) 1,914,312	137,987 187,116	(11,800) 740,000	(170,135) 257,341	(602,619) 3,098,769	65,912 3,032,857
1,355,641	325,103	728,200	87,206	2,496,150	3,098,769

The notes form part of these financial statements

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

Charity Balance Sheet As at 31 March 2024

Company number 3738616 National Day Nurseries Association

			As restated
		2024	2023
	Notes	£	£
Fixed assets
Tangible assets	9	863,705	876,950
Intangible assets	10	41,666	-
Investments	11	1	1
		905,372	876,951
Current assets
Stock		19,583	12,530
Trade debtors		88,910	347,687
Prepaid expenses		64,505	40,576
Accrued income		137,324	88,166
Investments		1,912,524	1,532,078
Cash at bank and in hand		7,448	856,882
Due from group company		-	13,052
		2,230,294	2,890,971
Liabilities
Creditors: amounts falling due within one year:
Bank loans and overdrafts		18,374	-
Trade creditors		79,563	59,544
Other creditors		1,287	648
Taxes and social security creditors		50,585	42,065
Accrued expenses		61,788	68,216
Deferred income	12	427,919	498,680
		639,516	669,153
Net current assets		1,590,778	2,221,818
Net assets		2,496,150	3,098,769
Funds
Unrestricted funds	13	1,680,744	2,101,428
Restricted funds	13	87,206	257,341
Endowment funds	13	728,200	740,000
		2,496,150	3,098,769

Approved by the board of directors and Trustees on 17 October 2024 and signed on its behalf by

Signer ID: 7KNFF9RRJ5...

Sarah Steel Director and Trustee

The notes form part of these financial statements

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Charity Statement of Cash Flows For the year ended 31 March 2024

Notes	2024 £	As restated 2023 £
Cash flows from operating activities
Net cash provided by operating activities 17 Cash flows from investing activities Interest income Withdrawal from / (investment in) term deposits Purchase of tangible fixed assets Purchase of intangible fixed assets Net cash used in investing activities Cash flows from financing activities (Repayment of) loan in year Net cash used in financing activities Increase / (decrease) in cash and cash equivalents in the year Cash and cash equivalents at beginning of the year Cash and cash equivalents at end of the year	(472,147) 81,280 (380,446) (46,495) (50,000) (395,661) - - (867,808) 856,882 (10,926)	(362,284)
		22,152 (986,011) (54,572) -
		(1,018,431)
		-
		-
		(1,380,715) 2,237,597
		856,882

The notes form part of these financial statements

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

1 Accounting policies

a) Statement of compliance

The financial statements have been prepared in accordance with 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 (FRS102) (Effective 1 January – 2019) (Charities SORP (FRS102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006, the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006. The financial statements are prepared under the historical cost convention with the exception of land and buildings, which have been included at their revalued amount.

The trustees consider that the charity constitutes a public benefit entity.

b) Going concern

The trustees have considered the current position and budgets of the charity, and after making appropriate enquiries they have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

c) Incoming resources

Income from charitable activities other than grant funding is accounted for when there is entitlement to the income. Income is deferred where delivery of services relates to future periods. Revenue grant funding is accounted for upon entitlement to the income and is deferred where time restrictions apply to related expenditure. Investment income and other trading income is accounted for on an accruals basis. Donations are accounted for as they arise. All income is included gross and related costs are included in expenditure. All income is stated after trade discounts, other sales taxes and net of VAT.

d) Resources expended

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT that cannot be recovered.

Expenditure that is directly attributable to specific activities has been included in these cost categories.

Where costs are attributable to more than one activity, they have been apportioned across the cost categories consistent with the use of these resources. Any creditors or provisions at the year-end are apportioned on the same basis.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both those costs that can be allocated directly to such activities and those costs of an indirect nature to support them.
Governance costs include those costs incurred in the governance of the charity and its assets, and are primarily associated with constitutional and statutory requirements.
Support costs include central functions that have been allocated to activity cost categories on a basis consistent with the staff time engaged on each activity.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

1 Accounting policies - continued

e) Operating leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are reflected in the Statement of Financial Activities on a straight-line basis over the period of the lease.

f) Pension costs

The charity operates a defined contribution pension scheme.

The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

Pension costs are attributed to the activity performed by the staff member to whom the cost relates.

g) Intangible Fixed assets

Intangible fixed assets are stated at historical cost and amortisation is provided on all intangible fixed assets on a straight-line basis.

Intellectual property is written off over the length of the non-competition clause.

Amortisation rates are as follows:

Intellectual property 50% straight line

Assets are assessed at least annually for impairment. Any impairment value is recognised immediately in the statement of financial activities. Individually purchased software is written off in the year of acquisition.

h) Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price and any costs directly attributable to bringing the asset to its working condition for its intended use.

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

ation is provided at fe.	the following annual rates in order to write off each as
Land	not depreciated
Buildings	2% straight line
Equipment etc.	equal instalments over estimated life of 4 to 8 years.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

1 Accounting policies - continued

i) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due deductions for obsolete and slow moving items.

Stocks are valued using the first-in, first-out (FIFO) method.

j) Current asset investments

Current asset investments comprise term bank deposits not realisable within 3 months and which are held to generate interest income.

k) Government grants

Government grants received towards revenue costs are recognised within the financial statements when the charity has entitlement and in accordance with the provisions of FRS102 on either the performance or accruals model on a class-by-class basis.

l) Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the charity’s objects.

Designated funds are unrestricted funds, which are determined by specific need to set aside funds to fund future developments in the charity, maintain the building and develop IT infrastructure.

Restricted funds are held where there are restrictions imposed by the donor on the use of the funds granted. All restricted funds are held in net current assets.

Endowment funds represent assets purchased with grant funding. Transfers are made to unrestricted funds to cover depreciation charges.

m) Taxation

The charity meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is exempt from taxation in accordance with the Corporation Tax Act 2010, to the extent that such income is applied exclusively for charitable purposes.

n) Liability of members

The company is limited by guarantee and the liability of each member is limited to £1.

o) Key accounting estimates and assumptions

Accounting estimates, by definition, will often vary from the actual results. They are continually evaluated, and are based on historical experience and other factors, including expectations of future events that are deemed to be reasonable under the circumstances. The nature of the estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next year are addressed below. The carrying amount of the estimates and assumptions at the year-end are disclosed in the relevant note to the accounts.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

1 Accounting policies - continued

Useful economic lives of tangible assets:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets, which are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Valuation of land and buildings:

The land and buildings are held in the Balance Sheet at valuation and the basis for valuation is fair value.

p) Financial instruments

The charity has adopted section 11 of FRS 102 in respect of financial instruments.

Short-term debtors are measured at transaction price, less any impairment.

Short-term creditors are measured at transaction price.

q) General information

The charity is a private company limited by guarantee and is incorporated in England and Wales.

The address of its registered office is National Early Years Enterprise Centre, Longbow Close, Huddersfield HD2 1GQ.

The company’s register number is 03738616.

r) Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand as well as any short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

s) Termination benefits

Termination benefits are recognised when the company has committed to providing them to employees.

They are measured at the best estimate required to settle the obligation at the reporting date.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

2 Donations	2024 £	2023 £
The Moondance Foundation Donation Other	- 837	74,262 12,422
	837	86,684

3 Projects and contracts	2024 £	2023 £
Welsh Government Scottish Government Other Included in the above are restricted funds: Welsh Government Scottish Government Other	333,360 145,000 430,791	465,249 105,000 396,302
	909,151	966,551
	333,360 145,000 420,016	465,249 105,000 391,340
	898,376	961,589

Included in the above, the amount of grants total £898,376 (2023: £961,589). Also included in the above are government grants totalling £526,742 (2023: £816,533).

4 Total resources expended Facilities hire Membership services Sector support services Projects & contracts Events, publicity and commercial	Direct delivery staff costs £ 2,917 282,601 452,304 588,320 79,933	Other delivery costs £ 106 250,351 138,772 80,894 142,523	Support incl staff costs £ 3,108 285,237 437,842 472,888 49,164	Depreciation/ Impairment £ 178 13,724 24,180 27,168 2,824	Total 2024 £ 6,309 831,913 1,053,098 1,169,270 274,444
	1,406,075	612,646	1,248,239	68,074	3,335,034
2023 Comparatives	£	£	£	£	£
Facilities hire Membership services Sector support services Projects & contracts Events, publicity and commercial	2,682 266,540 390,914 578,128 75,645	147 120,872 134,341 108,818 60,890	3,007 233,394 374,042 422,132 55,029	147 11,336 18,168 20,503 2,673	5,983 632,142 917,465 1,129,581 194,237
Other expenditure: revaluation of property - (11,800) 1,313,909 413,268 Allocation of support costs is based on staff time engaged on each activity.	-	(11,800)	-	-	(11,800)
	1,313,909	413,268	1,087,604	52,827	2,867,608
				2024	2023
Support costs include: Staff costs IT support Consultancy costs Premises Governance Marketing				£ 838,626 140,883 103,421 43,206 31,651 33,400	£ 664,147 148,477 84,458 44,884 30,154 27,952

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

4 Total resources expended - continued

Total resources expended include:	2024 £	2023 £
Operating lease rentals	8,679	14,281
Professional indemnity insurance Auditors remuneration: Audit Other services 5 Staff costs Wages and salaries Social security costs Pension costs Staff insurance Agency staff costs	2,847 14,950 - 2024 £ 1,940,550 179,133 109,174 10,609 5,235	2,782 13,020 6,000 2023 £ 1,699,913 156,156 92,370 9,025 20,591
	2,244,701	1,978,056

There were four employees with remuneration in excess of £60,000: Band £60,001 to £70,000 = 3; £110,001 to £120,000 = 1 (2023: Band £60,001 to £70,000 = 2; Band £100,001 to £110,000 = 1).

Pension contributions of £17,732 (2023: £13,262) were made in respect of these employees during the year.

The key management personnel of the charity comprises the Chief Executive and Senior Management Team whose employee benefits total £430,771 (2023: £409,148).

The average number of staff employed by the charity and group during the year was 64 (2023: 65).

The average full time equivalent number of staff employed by the charity was as follows:

Charitable activities Support staff Included in full time equivalent staff are participants on job creation programmes	2024 Number 40 16	2023 Number 41 13
	56	54
	2	5

6 Pension costs

The company has contributed £109,174 (2023: £92,370) into a Group Personal Pension Plan for its employees.

At the end of the year £1,286 (2023: £648) was owing in unpaid contributions.

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

7 Trustees remuneration and expenses

No remuneration was paid directly to trustees during the year. See Note 16 for details of other payments to trustees.

The total amount of expenses reimbursed to trustees for travel, subsistence and accommodation expenses incurred in carrying out their duties was £8, 1 trustee (2023: £1,174, 5 trustees).

Cost of professional indemnity insurance including trustee indemnity amounted to £2,847 (2023: £2,782).

8 Charity statement of financial activities 2023 Comparatives

Unrestricted

		Unrestricted
Notes Income Donations 2 Other trading activities Facilities hire Income from investments Income from charitable activities Membership services 3 Events, publicity and commercial Total income Expenditure Expenditure on raising funds Facilities hire Expenditure on charitable activities Membership services Events, publicity and commercial Other expenditure Sector support services Projects & contracts Sector support services Projects & contracts	Unrestricted Funds £ 12,422 7,844 22,152	Designated Funds £ - - -	Endowment Fund £ - - - - - - - - - - - - - - -	Restricted Funds £ 74,262 - -	Total 2023 £ 86,684 7,844 22,152
	42,418	-		74,262	116,680
	801,440 730,654 4,962 318,195	- - - -		- - 961,589 -	801,440 730,654 966,551 318,195
	1,855,251	-		961,589	2,816,840

	1,897,669	-		1,035,851	2,933,520
	5,553 564,170 864,005 224,446 186,372	430 67,972 53,460 60,333 7,865		- - - 844,802 -	5,983 632,142 917,465 1,129,581 194,237
Reversal of property impairment	-	-	(11,800)	-	(11,800)
Total resources expended 4 Transfers between funds 12 Net movement in funds Total funds brought forward 12 Total funds carried forward 12 Net income/(expenditure)	1,844,546	190,060	(11,800) 11,800 (11,800) - 740,000 740,000	844,802	2,867,608
	53,123 (197,787)	(190,060) 209,587		191,049 -	65,912 -
	(144,664) 2,058,976	19,527 167,589		191,049 66,292	65,912 3,032,857
	1,914,312	187,116		257,341	3,098,769

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

9 Tangible assets Cost or valuation At 1 April 2023 Additions Disposals At 31 March 2024	Long leasehold land and £ 740,000 - - 740,000	Equipment etc. £ 263,222 46,495 (38,864) 270,853	Total £ 1,003,222 46,495 (38,864)
			1,010,853
Depreciation At 1 April 2023 Charge for the year Eliminated on disposal At 31 March 2024	- 11,800 - 11,800	126,272 43,895 (34,819) 135,348	126,272 55,695 (34,819)
			147,148
Net book value At 31 March 2024 At 31 March 2023	728,200 740,000	135,505 136,950	863,705 876,950

The land and buildings are included at valuation based on a combination of the All Risks Yield (Investment) method of valuation and the traditional comparable method. A valuation, dated 31 March 2023, was undertaken by Bramleys LLP, independent RICS registered valuers.

The historical cost of the land and buildings and accumulated depreciation had it not been revalued would have been as follows:

follows:
Cost Accumulated depreciation The historical valuations were: 31 March 2023 31 March 2022 31 March 2020 31 March 2018 31 March 2016 31 March 2014 31 March 2011	2024 £ 1,395,715 (422,255) 973,460 740,000 £ 740,000 £ 735,000 £ 735,000 £ 720,000 £ 750,000 £ 875,000 £	2023 £ 1,395,715 (399,924)
		995,791

10 Intangible assets Cost or valuation At 1 April 2023 Additions At 31 March 2024	£ - 50,000 50,000 Intellellectual Property	Total £ - 50,000
		50,000
Amortisation At 1 April 2023 Charge for the year At 31 March 2024	- 8,333 8,333	- 8,333
		8,333
Net book value At 31 March 2024 At 31 March 2023	41,667 -	41,667 -

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

		Shares in group
11	Investments	undertakings
		£
	Cost at 31 March 2023 and 31 March 2024	1
	Net book value at 31 March 2023 and 31 March 2024	1
	The company's investments at the balance sheet date consist of 100% of the ordinary share capital of its subsidiary NDNA
	Services Limited, company number 07520697, whose registered office is National Early Years Enterprise Centre, Longbow Close,
	Huddersfield HD2 1GQ.

NDNA Services Limited is dormant.

12 Deferred income Balance at 1 April 2023 Released from previous year	Membership £ 346,249 (346,249)	Projects & contracts £ 81,745 (81,745)	Events, publicity & campaigns £ 35,001 (35,001)	Sector support services £ 35,685 (34,067)	Total £ 498,680 (497,062)
Deferred in current year	358,592	13,463	22,029	32,217	426,301
Balance at 31 March 2024 358,592 13,463 Deferred income refers to delivery of services in the following financial year. 2023 Comparatives Membership Projects & contracts			22,029 Events, publicity & campaigns	33,835 Sector support services	427,919
					Total
	£	£	£	£	£
Balance at 1 April 2022 Released from previous year	397,449 (397,449)	- -	46,405 (46,405)	43,879 (42,261)	487,733 (486,115)
Deferred in current year	346,249	81,745	35,001	34,067	497,062
Balance at 31 March 2023 13 Analysis of charitable funds Unrestricted funds Endowment fund Restricted funds Analysis of movement in unrestricted funds General fund Designated development fund Designated buildings fund Designated IT fund	346,249 Balance at 1.4.23 £ 2,101,428 740,000 257,341 3,098,769 Balance at 1.4.23 £ 1,914,312 56,159 14,033 116,924 2,101,428	81,745 Incoming resources £ 1,834,039 - 898,376 2,732,415 Incoming resources £ 1,834,039 - - - 1,834,039	35,001 Outgoing resources £ (2,266,523) - (1,068,511) (3,335,034) Outgoing resources £ (1,881,131) (213,439) (7,274) (164,679) (2,266,523)	35,685 Transfer between funds £ 11,800 (11,800) - - Transfer between funds £ (511,579) 457,896 - 65,483 11,800	498,680
					Balance at 31.3.24 £ 1,680,744 728,200 87,206
					2,496,150
					Balance at 31.3.24 £ 1,355,641 300,616 6,759 17,728
					1,680,744

Name of unrestricted fund Description, nature and purpose of fund General fund Designated development fund

The reserves after allowing for all designated funds. Designated fund for developing services that will support sustainability. There are a number of projects ongoing which are expected to continue during 2024-25.

Designated fund for office furniture and equipment purchased (and capitalised) in 2018, 2020, 2021 and 2022.

Designated buildings fund

Designated fund for finance software purchased (and capitalised) in 2019, CRM and website purchased (and capitalised) in 2022.

Designated IT fund

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

13 Analysis of charitable funds - continued

Analysis of movement in restricted funds Early Years Stronger Practice Hubs The Mercers' Company Foundation Welsh Government Children & Families Welsh Government Language Unit The Moondance Foundation Education Endowment Fund Shared Prosperity Fund Best Practice Network Welsh Government Foundation Learning Scottish Government Strategic Funding Partnership East Ayrshire Local Employability Partnership	Balance at 1.4.23 £ 183,079 - - - - 74,262 - - - - - 257,341	Incoming resources £ 134,076 139,284 60,000 145,000 33,607 - 14,775 78,500 172,564 51,126 69,444 898,376	Outgoing resources £ (258,884) (139,284) (60,000) (145,000) (33,607) (74,262) (14,775) (78,500) (172,564) (51,126) (40,509) (1,068,511)	Transfer between funds £ - - - - - - - - - - - -	Balance at 31.3.24 £ 58,271 - - - - - - - - - 28,935
					87,206

Key incoming resources:

Welsh Government Children & Families - grant awarded to support the development of innovative solutions to provide flexible childcare that meets the needs of families in Wales.

Welsh Government Language Unit - grant for support of early years settings with the Welsh language training programme.

Welsh Government Foundation Learning - grant for the support of the delivery of Foundation Learning.

Scottish Government Strategic Funding Partnership - grant for the development of Early Learning and Childcare policy and improvement of quality in Private, Voluntary and Independent nurseries.

Shared Prosperity Fund - grants for introducing people into employment in childcare.

The Moondance Foundation - donation for introducing people into employment in childcare.

East Ayrshire Local Employability Partnership - grant for introducing people into employment in Early Learning and Childcare.

Best Practice Network - grant for working alongside as Delivery Partners to train, mentor and assess learners undertaking the Early Years SENCO Level 3 qualification.

Education Endowment Fund/DfE - Accelerator Fund - grant for larger scale delivery of /DfE - Accelerator Fund - grant for larger scale delivery of the Maths Champions programme.

Early Years Stronger Practice Hubs - grant for the delivery of our Maths Champions programme.

The Mercers' Company Foundation, as trustee of the Charity of Sir Richard Whittington, grant supporting NDNA to deliver Maths Champions and Language & Communication Champion programmes into 18 of the most deprived boroughs in Greater London.

2023 Comparatives Analysis of charitable funds Unrestricted funds Endowment fund Restricted funds Analysis of movement in unrestricted funds General fund Designated development fund Designated buildings fund Designated IT fund	£ 2,226,565 740,000 66,292 3,032,857 Balance at 1.4.22 £ 2,058,976 36,190 20,265 111,134 2,226,565 Balance at 1.4.22	£ 1,897,669 - 1,035,851 2,933,520 Incoming resources £ 1,897,669 - - - 1,897,669 Incoming resources	£ (2,034,606) 11,800 (844,802) (2,867,608) Outgoing resources £ (1,844,546) (34,614) (6,232) (149,214) (2,034,606) Outgoing resources	£ 11,800 (11,800) - - Transfer between funds £ (197,787) 54,583 - 155,004 11,800 Transfer between funds	£ 2,101,428 740,000 257,341 Balance at 31.3.23
					3,098,769
					Balance at 31.3.23 £ 1,914,312 56,159 14,033 116,924
					2,101,428

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

13 Analysis of charitable funds - continued Analysis of movement in restricted funds Welsh Government Children & Families Welsh Government Language Unit Welsh Government Foundation Learning Active Inclusion Swansea Council The Moondance Foundation Best Practice Network Education Endowment Fund Scottish Government Strategic Funding Partnership	Balance at 1.4.22 £ 66,292 - - - - - - - - 66,292	Incoming resources £ 338,285 66,964 60,000 105,000 216,284 30,000 74,262 4,000 141,056 1,035,851	Outgoing resources £ (221,498) (66,964) (60,000) (105,000) (216,284) (30,000) - (4,000) (141,056) (844,802)	Transfer between funds £ - - - - - - - - - -	Balance at 31.3.23 £ 183,079 - - - - - 74,262 - -
					257,341

14 Analysis of net assets between fund balances	Unrestricted funds	Designated funds	Endowment funds (restricted)	Restricted funds (other)	Total 2024
Tangible fixed assets Intangible fixed assets Investments Net current assets	£ 49,179 - 1 1,306,461	£ 86,326 41,666 - 197,111	£ 728,200 - - -	£ - - - 87,206	£ 863,705 41,666 1 1,590,778
	1,355,641	325,103	728,200	87,206	2,496,150

2023 Comparatives
	Unrestricted funds	Designated funds	Endowment funds (restricted)	Restricted funds (other)	Total 2023
	£	£	£	£	£
Tangible fixed assets Investments Net current assets	50,481 1 1,863,830 1,914,312	86,469 - 100,647 187,116	740,000 - - 740,000	- - 257,341 257,341	876,950 1 2,221,818
					3,098,769

15 Operating lease commitments Minimum lease payments under non-cancellable operating leases fall due as follows: Operating leases which expire: within one year in two to five years				2024 £ 8,763 9,341 18,104	2023 £ 8,244 14,997
					23,241

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1

National Day Nurseries Association Notes to the accounts For the year ended 31 March 2024

16 Related parties disclosures

The company has taken advantage of the exemption in Financial Reporting Standard number 102 from the requirement to disclose the transactions with group companies on the grounds that they are wholly owned.

Payments to trustees are in line with the Memorandum and Articles of Association.

Nil (2023: £4,254) was paid for the legal services of Lupton Fawcett, a firm in which trustee David Smyllie is a partner.

Christie & Co, a company in which Courteney Donaldson is a Director, paid the charity £17,444 (2023: £16,776) for advertising and sponsorship. At the end of the year Christie & Co owed the charity £4,908 (2023: £4,908).

17 Reconciliation of net income/(expenditure) to net cash flow from operating activities Net movement in funds Add back depreciation charge Add back amortisation charge	17 Reconciliation of net income/(expenditure) to net cash flow from operating activities Net movement in funds Add back depreciation charge Add back amortisation charge	2024 £ (602,619) 55,695 8,333	2023 £ 65,912 52,827 -
Loss on disposal of fixed assets		4,045	-
Deduct reversal of property impairment Deduct interest income shown in investing activities Decrease / (increase) in stock Decrease / (increase) in debtors (Decrease) in creditors Decrease in amount due from group company Net cash provided by operating activities 18 Analysis of changes in net debt Cash at bank and in hand TOTAL	Balance at 1.4.23 £ 856,882 856,882	- (81,280) (7,053) 185,690 (48,010) 13,052 (472,147) Cash-flows £ (849,434) (849,434)	(11,800) (22,152) 8,922 (328,766) (127,227) -
			(362,284)
			Balance at 31.3.24 £ 7,448
			7,448

Document ID: a800aee95c55cc4a1cc35deae4b00e106b8ca3e45f7d62d8591957772d3e1bd1