STEPPING STONES NURSERY SCHOO4 MILFORD REGisfERED NUMBER: 1081242 Accoumfs FOR THE YEAR ENDED 31 AUGUST 2024 Mllford Baptlst Church New Road Mllford Godalmin8 Surreyl GU8 58E
srEPPING STONES NURSERY SCHOO¥ MILFORD REGISTÉRED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 INDEPENDEfr4T EXAMINER'S REPORTTO THE TRuEEs OF STEPPING STONES NURSERY SCHOOU MILFORD l Teport to the charity trustee5 on my eMinatIon of the accounts of the charlty for the year ended 31 Au8USt 2024 which are set out on pages 2 to 11 R•sponslbllltle5 and b1515 of feport A5 the charit¢5 trustees you are responslble for the preparation of the account5 In accordance with the requlrement50f the Charities Act 20111'the Act'l. I report In respect of my examination of the charitvs accounts carried out under sectlon 145 of the Act and in carrying out my examlnatlon I have followed all ihe applicable Dirertions glven by the Charlty Commission under section 14515llbl of the Act. Independent eximln¢r's statemeni I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon In connectloTr wlth the examination 8lvln8 me cause to believe that Sn any materlal respect.. l. attountln8 records were not kept In respect of the charlty as requlred by sectlon 130 01 the Act,. or 2. the accounts do not accord wlth those record5,' or 3. the accounts do not comply with the applScable requlremenis concernlng the form and content of a¢¢ounts set out In the Charltles (Accounts and Report51 Regulatlon$ 2008 other than any requlrement that the accounts glve a 'true and lalr vlew, whlch is not a rnatter con51dered as part of an independent examlnation. I have no toncerns and have come across no Other matters In connectlon wlth the Èxaminatlon to which attentlon should be drawn In this report In order to enable a proper understandln8 of the accounts to be reached. E Matthews AAT I ACIE18AFA I IAB / ICB Accountablllty business Servlces Ltd Wortln8 House Wortln8 Road Basln8Stoke Hampshire Dated.. 16th May 2025
srEPPING sfoNES NURSERY SCHOOL MILFORDREGlSfERED NUMBER: 1081242AccouNfs FOR THE YEAR EP REGisfERED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 STATEMEKf OF FINANCIAL AcfiviTIES- CURRENT YEAR 2024 Unrestrlcted Restricted Funds Funds Notes Total Funds INCOME AND ENDOWMENTS FROM Donations and Legacies Charitable activities 180 126,405 126.585 180 126,405 126,585 Total EXPENDITURE ON Raising Funds Charitable Activities 103 108.255 108.358 103 108,255 108.358 Total NET EXPENDITURE 18.227 18.227 Transfers between funds Net movement In funds 18,227 18,227 RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 31,869 50,096 31,869 50,096 All of the above results are derived from continuing artivities.
STEPPING STONES NURSERY SCHOOI MILFORD REGISTERED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2023 STATEMENT OF FINANCIAL ACTIVITIES- PRIOR YEAR 2023 Unrestricted Restricted Funds Funds Notes Total Funds INCOME AND ENDOWMENTS FROM Donations and Legacies Charitable activities 170 77,361 77,531 170 77.361 77.531 Total EXPENDITURE ON Dated: 16th May 2 Ralsln8 Funds Charitable Artivlties 96.638 96.638 96,638 96.638 Total NeT INCOME/(EXPENDITURE) (19,107) (19.107) Transfers between funds Net movement In funds (19,107) (19.107) RECONCILIATION OF FUNDS Total f unds brought forward TOTAL FUNDS CARRIED FORWARD 50,976 31,869 50,976 31.869 All of the above results are derived from contlnulng actlvlties.
STEPPING STONES NURSERYSCHOOI MILFORDREGISTERED NUMBER: 1081241ACCOUNTS FOR THE YEAR ENDED31 AUGUST2024MSWord I REGISTERED NUMBER: 1081242 ACCOUNT5 FOR THE YEAR EIIDED 31 AUGUST 2024 BALANCE SHEET 2024 Unrestrlcted Restrtcted Funds Funds 2023 r4otes Total Funds Toi•l Funds FIXED A55ET5 TangSble assets Z.759 2.759 2.759 2.759 3.2S CURRENT ASSETS Debtors Cash at bank and in hand I97 56.809 58.406 l.S97 S6.809 $8A06 1.165 34,646 35,811 CREDITORS Amounts fallln8 due wlthln one year 111.0671 Ill67) 17.2321 NET CURRENT ASSETS 47.339 47339 28.S79 TOTALASSETS LESS CURRENT UABILITIES SOW98 50m8 31.869 NET ASSETS 50.098 50.098 31,869 FUNDS OF THE CHARITY Unrestrlcted funds Restrlcted funds TOTAL FUNDS 50.096 31,869 50,096 51.869 These flnanclil statement5 have been approved on Flo unford For and on behall of the Board of Trustees Dated:
srEPPING sfoNES NURSERYSCHOOL MILFORDREGisfERED NUMBER: 1081242ACCOUNfs FOR THE YEAR ENDED31 AUGUST 2024MllfoD REGISTERED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGusf 2024 NOTESTO THE FINANaALSTATEMENTS I report to the charlty trurtees on my ex•M1110n ofthe accounts of the charltyforthè year •nd•d 31 Auiugt 2024 whlch ar, Basis of prnp•r•tlon These flnanclal statements have been pPared under the hlstorlcal cost conventlon. The financial statements have been prepared in accordance wlth FRS 102. the Charities Act 2011 and the requirements of the Statement of Recornmended PTatticé ISORPI, Accountln8 and Reportlng by Charltles. Stepping Stones Nursery School Is a body establlshed by Trust, and is govern by its constltution. The charfty Is a publlc benefit entlty a5 defined by FRS 102. The finandal statements contain Inlormatlon about the charity as an individual bodv. The flnanclal statements are presented In 5tedin& whlch Is the fun¢tlonal currency of the charlty and rounded to the nearest £. Golni conc•m 111 The flnanclal statements have been prepared on a golng concem basls as the trustees have assessed tht goln8 concern P051tlon. The charfty Ss able to settle out5tandlng invoice5. bllls and comrnltments a5 they fall due and the trustee5 have no reason to believe that there are any materlal uncertalntSes that would affect the ablllty of the nursery school ro contSnue as a goln8 concern for the foreseeable future. In¢offle All Income Is reco8n15ed In the Statement of Flnznclal Artlvltles onte the charlty has entitlement to the funds. It Is probable that the Income wlll be CeIved and the arnount be measured rellably. Nursery lees are cognISed wlthln the acadernlc perfod that they relate to. For donatlon5 to be recognlsed the charlty wlll have been notifsed of the arnounts ond the settlernent date In wrltln8. If there a condltSons attached to the donatlon and thls requlre5 a level ol performan before entitlement can be obtalned then Income Is deferd untll those condltSons are fully met or the fullllment ol those condltlons Is wSthln the control of the charlty and Itls probable that they wlll be fulfllled. Income frorn grants IlncludlnB government grants) Is reco8nSsed In the perlod In whlch the teachlng Is performed, as the servlce 15 dellvered, usln8 the performance model as per FR5102. Grants are not reco8nlsed untll there 15 reasonable a5sur3nce that the cttarfty wlll comply wlth the condltlons attached to them. Where the 8rant Imposes performance- related condltlon5. It 15 recognlsed only when those condltSons have been met. Where grants are received prfor to 5atlsfylni the revenue reco8nltlon crlterla, they are reco8n15ed as a Ilablllty. When donors or 8rant-makln8 entltles 5peclfy that donatlons and grants are for yrtlcular restrlcted purp05e5, thls Income 15 Include¢J In Incomlng resources of restrlcted lund5. These notes fomi part of the flnancial statements
STEPPING STONES NURSERY SCHOOL MILFORD REGISTERED NUM8ER: 1081242 ACCOUNTS FOR THÉ YEAR ENDED 31 AUGusf2024 NOTESTO THE FINANaALSTATEMENTS I. ACCOUNTING POLICIES ICONTINUEDI Empendlture Uabilities are recogni5eEI as expenditure as soon a5 there is a legal or constructive obllgatlon commlttlng the charlty to that expenditure. it is probable that a transfer of econornlc benefits will be requlred In settlement and the amount of the obll8atlon can be measured reli3blv. Expenditure Is accounted for on on accruals basls and has been classified under headin8S that a88re&ate all cost related to the category. Where costs cannot be dlrectly attrlbuted to partlcular headlng5 they have been allccated to actlvlties on basls con515tent wlth the use of re50urce5. All expendlture15 reco8nlsed Inclu51ve of VAT. where VAT opplles. ExpendSture on charltable actlvltles Includes those costs Incurred by the charlty In dellverlng Its actlvltles and Include5 both dlrect and allocated 5UPPOrt C05t5. Cash and cash ¢qulv4l¢n¢ts Cash and cash equlvalents Include cash Sn hand and cash deposlts wlth flnanclal Institullons that are readlly convertlble to known amounts of cash wlth Insl8nlfl¢ant rfsk ol ¢hon8e In Wdlue. T•nglbl• flxed iis•ts Tanglble assets are Stated at cost less depreclatlon. Cost Includes the orl8lnal purchBse prlce and costs dlrectly attrlbutable to brln8ln8 the asset to Its workln8 condltlon lor Intended use. Dèpreclatlon Is provided at the followln8 annual rates In order to wrlte off assets over Its estlmated useful Ilfe, Plant & machlnery Computer equlpment Leasehold Improvements - 25.00%, 10.00% on c05t - 33.33% on cost 25.00% on cost Upon dlsposal the dIfferen between net proceeds and the carrylng amount of the Item sold Is reco8nlsed wlthln the Statement of flnanclal actlvltles wlthin charltable actlvllles. Debtors and credltors r•c•1vablélpay•b wiihln one ye•r Debtors and credltors wlth no stated Interest rate and re1vable or payable wSthln one year are recorded at transactlon prlce. Anylosses arfsln8 from lrnpalrment are reco8nlsed Sn expendlture. T•M•tlon The charlty Is exempt Irorn tax on Its charltable actSvltles. Fund5 5truclure UnrestrScted funds cofflprlse those funds whlch the trustees are fe to use In accordance wlth the charltable oblectlves. Re5trlcted funds a funds whlch have been 8lven lor partlcular purposes and projects. Flnanclal Instruments The charity only enters Into baslc flnènclal Instrument transactlons that result In the recoBnltlon of nnanclal assets and Ilabllltles Ilke trade and other account5 recelvable and payable and Investments In non-putative ordinary shares. Debt Instruments lother than those wholly repèyable or rece5vable wlthln on yearl. Includln8 loans and Other accounts receivable and payable, are Inltlally rneasured at present value of future cash flow5 and subsequently ai amortlsed cost uslng the effectlve InterESt rnEthod. These notes fom) part of the fin3ncial 5tatement5
STEPPING STONES NURSERY SCHOOL. MILFORD REGISTEAED NUMBER,. 1081242 ACC<XINTS FOR THE YEAR ENDED 31 AUGUST 2024 NOTESTOTHE FINANCIAL STATEMENTS 2. INC<)ME FROM CHARITABLE A1VITIEs 2024 Restrlcled Fund5 Unre5trl¢ted Funds Tot•1 Fund5 Grants reiVed Nursery fees 108,516 17,889 126.405 108.516 17,889 126.405 Z023 Reitrlcted Funds Unre$trlrt¢d Funds Tot•1 Funds Grants recelved Nursery fees 54,131 23.230 77.361 54,131 23,230 77.361 All government lor counclll 8rant Income recelved In the year have been spent durlng the year and there are no unfulfilled condltlons or coTrtlngencles at the year end S. CHARITABLE AcfiviTIES 2024 Reitrlct•d FuNIs Unreitrlcted Funds Total Fundi Accountancy lees Advertlsln8 Bad debts Chlldren costs Cornpllance lees ConsultSn8 lees Covld Costs Depreclatlon Independent examSnatlon fees Insurance Late fllln8 penalty Legal Fees Offlce costs Property costs Staff costs Staff welfare & tralnln8 Sundry costs 2,244 1,382 iii 7,536 485 2,244 1,382 iii 7,536 485 531 500 790 531 500 790 70 4.872 6,(KJ7 82,597 1,130 70 4.872 6,007 82,597 1,130 108,255 108.255 These note5 fofrn part of the financial statements
STEPPING STONES NURSERY SCHOOL MILFORD REGISTERED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDEO 31 AUGUST 2024 NOTES TO THE FINANCIALSTATEMENTS 3. CHARITABLE AcfiviTIES ICONTINUEDI 2023 Restrkled Fund$ Unrestrlcted Funds Total Funds Staff cost5 Property costs Independent examlnatlors fees Accountancy fee5 Compllance fees Consultlng fees Olllce cts5ts Chlldren costs Instsrance AdvÈrt15ing Staff welfare & tralnln8 Covld-19 compllance costs Late lillnB penalty Sundry costs 8ad debts Oepreclatlon 71,215 8.448 5ts) 2,944 267 71.215 8,448 5CL) 2.944 267 4,532 5,017 740 1,031 1,317 4,532 5,017 740 1,031 1,317 24 24 603 96.639 603 96.6J9 4. TRUSTEES, REMUNERATION AND BENEFITS No trustee ha5 recelved any further remuneratlon durlng the current perlod. Trust••s' expeni•s No trustees12023.. 11 were relmbur5ed duTlng the year 2024 2023 Mrs F Ounford Mr5 F Eyton-lones (Née Hol Mrs P Rowe 275 275 The nature of the expenses relates to the everyday runnln8 of the chaTIty. 5. sfAFF COSTS 2024 2023 Salarles Employers NIC Penslon5 80,256 69,221 2,331 82,597 1,994 71.215 The avefa8e number of employees during the year wa$ 612023: 61 No employees recelved emoluments In exce55 of £60.0. Key Management Personnel recelved total benefit5 during the year of £41.745.0512023.. £35,468.38). Key Management Personnel are defined on page 5 of The Annual Return. These notes fom part of the financlal statements
STEPPING STONES NURSERY SCHOOL, MILFORD REGisfEREO NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 NOTES TO ThE FINANCIAL STATEMENTS TANGIBLE ASSETS Plant & Computer Leasehold Machlnery Equlpment Improvernent5 Tthal co At I September 2023 6,073 993 4.553 11,619 At 31 August 2024 6,073 993 4,553 11,619 DEPRECIATION At I September 2023 Charge for year 2,783 531 993 4,553 8,329 531 At 31 Au8USt 2024 3.314 993 4,553 8,860 BOOK VALUE At 31 Au8USt 2024 2.759 2,759 At 31 August 2023 3.290 101 3,2 7. OEBTORS: AMOUNTS DUE FALLING WITHIN ONE YEAR 2024 2023 Trade debtors Prepayments 1,322 275 1,597 914 251 1.165 & CREDITORS: AMOUNT5 FALLING DUE WIThIN ONE YEAR 2024 2023 rrade creélt¢rs Other credltors Taxatlon and soclal 5ecurltv Accruals 2,013 617 1,494 6,943 11,067 1,070 507 918 4,737 7,232 The3e notes Forrn part ol the flnancial statement5
srEPPING STONES NURSERYSCHOO¥ MILFORD REGISfEREO NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGusf2024 NOTES TOTHE FINANCIALSTATEMETr¥rs 9. MOVEMENT IN FUND5 N•t Septernber rnovernent In 2023 funds At 31 Av8U5t 2024 Transfer5 between lunds Unrutrlcted funds General fund ChSld deprivatlon fund Development fund 18.294 624 12,951 31,869 18,227 36,S21 624 12,951 50,096 18,227 TOTAL FUNDS 31.869 18,227 so96 Net rnovernents In fund5, Included In the above are as follows.. Net mo¥•ment In funds Incomé ExndItuTe Unroitrlcted fundi General fund Chlld deprSvatlon fund Development fund 126,58S 1108,3581 18,227 126,585 1108,3581 18,227 TOTAL FUNDS 126,585 108.3581 18.227 These notes fom part oFthe Ilnandal 5talernents
StEPPING ST0fr4ES NURSERY SCHOOL. MILFORD REGISTERED NUMBER: 1081242 ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024 NOTESTO THÉ FINANCIAL STATEMENTS 9. MOVEMENT IN FUND5 ICQNTINUEDI Net Stptemb•r movement In 2022 fund5 At JI Au¥ust 2013 Transfers b•tween funds Unrestrlcled funds General fund Chlld deprlvatlon fund Oevelopment fund 35.757 1,366 13.853 50,9?6 119,1071 16,650 1,366 13.853 31,869 119.1071 Restrlctéd fundi 30 hour grant TOTAL FUNDS 50.976 119,1071 31.869 Net movements In funds, Included In the above are a5 follows., Net mov•mant In funds Incorne Exper*dltur• Unrestrl£t•d lund5 Gèneral fund Child deprlvatlon fund Development fund 77,531 196,6381 119,1071 77,531 196,6381 119.1071 R¢strl¢i4d funds 30 hour grant TOTAL FUNDS 77,531 196.6381 19,1071 10. RELATED PARTY TRANSAcnoNS There are no related party tran5artlon5 that requlre dls¢losure lor the ¢urrent or prlor IlThanclal year. These note5 form part of the financial statements
Trustees. Annual Report for the period Period start date Day lontli I Sept ', Period end date Year Day 2023 ,. To 31 Year 2024 From Section A Reference and adini nislralion details Charity name stepping Stones Nursery School other name8 charlty is known by R•gisterod charlty number (rf any) 1081242 Charlty's prlncipal address Milford Baptist Church, New Road, Milford, Godalming, Surrey P08tcode GU8 58E Nam•8 of tho charlty trustees who manage the charlty Trustee namo Offic81if any) Dates acted If not for whole year Name of person (or body ontitled to appoint tru8t•o ifan Milford Baptist Church Milford Baptist Church Fiona Dunford Christine Sargrove Chair & Treasurer Premises and marketing Secretary 1A1 Sept 2023 to 31 51 Dec 2023 10 Lynn Edge Virginia Lewzey Milford Baptist Church Milford Baptist Church 111 January 2024 to 3111 December 2024 12 13 14 15 16 17 18 19 20 Nam08 of the trustee8 for the charity, if anyi (for example, any custodian tru8tee8) Name Dates acted If not for whole ear Names and addr?s8e8 of advisers (Optional information) TAR April 2024
e of adviser Name Address Name of chief exocutivo or names of senlor staff members (Optional Information) Nursery Manager- Debbie Goold,. Deputy Nursery Manager- Karen Netley., Senior Early Years Practitioner Lynda Goddard Section B Striictii re, overnance and mana ement Description of the charlty'8 tru8t8 Constitution Type of governing documenl lp.g IriJ%t cjeed, conslilulioni How the charity is constituted leq tr(Jsl, a¢',soLiation, cniripanii Trust Trustee selection methods lpg appointed by el•rltJ.d L"/i Church member twstees elected by church members. Other trustees who represent the parents are elected by parents and ratified by existing trustees Additional governance188ues (Optlonal Information) During this year the Trustees and Nursery Management have worked hard to build up depleted reserves. The higher than usual intake meant a good financial stsrt to the year and Nursery sessions continued to grow throughout the year. The Trustees had previously created a risk management document to record all identifiable risks to the business along with the actions required to mitigate such risks. The Nursery continued to be aware of these risks and were active in improving Nursery resources and facilities and recruiting new starters for the upcoming academic year. In September 2024, we started the new academic year with a low intake, this meant that the Nursery was running at a significant loss. The waiting list for children due to join the Nursery in Spring 2024 was insufficient to bring us into a viable trading position. The decision was taken to close the Nursery at the end of the Autumn Term {December 20th 2024) You may ch0080 to include additional information, where relevant, about.. policies and procedures adopted for the induction and training of trustees., the charity's organisational structure and any wider network with which the charity works, relationship with any related parties., trustees, consideration of major risks and the system and procedures to manage them. During this time the Church leadership team have also been supportive with financial advice as well as reducing some of our financial commitments. Section C ectives and activities The objectives of the nursery school are.. (a) The advancement of the education (including spiritual development) of children below the age of compulsory education, Summary of the objects of the charity set out in its governing document (b) The provision of facilities for recreation for such children in the interest of social welfare and with the object of improving their conditions of life, by providing for all children (without discrimination for any reason including a child's religious background, racial origin, cultural and linguistic background) a safe and satisfying nursery school in a Christian environment. TAR April 2024
The totsl costs spent in order to achieve these objectives amounted to £108,255 for the financial year. The main activities are to provide education and childcare for families within the community. The nursery follows the Foundation Stage curriculum for education. It is registered and inspected by Ofsted and follows advi on best practice and statutory regulations from Surrey County Council. Summary of the maln activities undertaken for the public beneflt In relation to these objects (include withln thls sectlon the statutory declaration that trustees have had regard to th• guidance issued by the Charlty Commission on publlc beneflt) The trustees have regard to the guidance issued by the Charity Commission on public benefit. Addltlonal detall8 of obJectlve8 and activitle8 (Optlonal Informatlon) You may choose to include further statements, where relevant, about: policy on grantmaking; policy programme related investment., contributs'on made by volunteers. TAR April 2024
Sectioii D Acliieveiiients and pelfoiiiiance Summary of the main achlevements of the charity during the year Stepping Stones has continued to provide excellent childcare, education and support to families in the community. It continued to have good links and relationships with local infant schools to which the children transfer. The Nursery is open for 10 sessions per week. The Most recent Ofsted inspection was conducted on161h January 2020. We received a glowing report and the nursery was graded as 'Good' in all areas. Early start club was launched in January 2023, this extended the nursery day from 8.30am to 3pm. Academic ear 2023 -2024 We started the year with high occupancy and 134 sessions Occupancy increased over the academic year and by the Summer of 2024 we had occupancy of 151 sessions (24 children on roll) Academic ear 2024 - 25 (The Nursery closed at the end of the Autumn Term) We started the Term with 13 children on roll which equated to 57 sessions per week. staffing Staffin for the academic ear 2023-2024. The team consisted of Debbie, Karen, Lynda, Michelle, Emily and Louise. Anthea Kelland, joined the team briefly in the Summer Term and Michelle left the Nursery at the end of the Summer Term. Staffin for the eriod Se t 181 2024 until December 20th 2024 The team consisted of Debbie, Karen, Lynda, Michelle, Emily and Louise. Roles within the Nurse Team The roles within the nursery have not changed over the past year and remain as: Karen is our Designated safeguarding lead (DSL) and Behaviour Management Lead Lynda is our SENCO and Website coordinator. Debbie is the Deputy SENCO and DSL Nurse Activities The nursery follows the Early Years Foundation Stage Statutory Framework. A wide range of activities are provided, which include indoor and outdoor play, cooking, craft and imaginative play. Staff employ planning in the moment and use Tapestry to capture child observations and enable communication with parents. Salarles A pay increase of 10 % was awarded to all staff, with effect from April 1st 2024 Pension Scheme- INe are now into the eighth year of the Pension Scheme with NEST. All staff have been offered a pension, whether they are automatically enrolled or not. TAR April 2024
Section D Achievements aiid perfortTlc]nce Section E Financial review Brlef statement of the charity'8 policy on reserves We ensure that we hold in reserve enough funds to cover the running of the pre-school for half a term, approximately 6 weeks, and redundancy cosis,. this amounts to £40,000. This is monitored routinely by the Treasurer and Trustees in case mitigating action is required. If the need to close should ever arise then staff would be given half a term's notice. During the year in question, we were very cautious regarding any additional costs or investments. We became increasingly concerned as the year progressed about the low enrolment for the Autumn of 2024. Financial information was being assessed regularly including reviewing informal budgets and cash flow to ensure that the charity can continue for longer than half a term (the current reserves policy). The trustees met on October 14th and in the light of significant operating losses and insufficient children on the waiting list for the Spnng Term, took the inevitable decision that the Nursery would close at the end of the Autumn Temi. Details of any funds materially In deficlt nla Further financial review details Ioptlonal Informatlon) Our principal sources of income are through the Payment of nursery fees by parents Payment of grant by surrey county council for all funded hours You may choose to include additional information, where relevant about: the charity's principal sources of funds (including any fundraising)- how expenditure has supported the key objectives of the charity., investment policy and objectives including any A designated unrestricted fund is held to be used at management's discretion for investment into improved assets or larger purchases that would benefit the nursery either directly to the children or by supporting the management to provide a better leaming place. This 'Development fund, is categorised within the accounts as unrestricted. The Early Years Pupil PrnIUM - Grant funding from Surrey County Council s ecificall for rovidin enrichment activities s ecialist skill's TAR April 2024
ethical investment policy adopted. Section F Other optional information The accounts of the charity have been prepared after the closure of the Nursery. Sadly, the Nursery was no longer able to operate sustainably due to momentous changes in the Early Years childcare sector, driven by parental choice and new govemment policy and provision. In recent years we had eXperIend a fluctuation in demand for our Traditional pre-school Nursery, which led to under occupancy in some recent academic years. and loss of income. Despite experiencing high occupancy in the year 2023 to 2024, the low occupancy in the Autumn of 2024 meant that our already depleted reserves were insufficient to see us through to the end of the academic year. Section G Declaration The truste6s declare that they have approvgd the truste96' report above. Signed on behalf of the charlty's tru8tee8 Slgnature(s) Full namels) Posltlon (eg Secretary, Chalr, etc) Fiona Dunford Chair Date 06 2025 TAR April 2024