Charlty reglstratlon number 1086957 Company reglstratlon numbèr 4148695 (England and Wales) COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mathew Goodwin (Chalr) Sue Cleaveley (VI￿ Chair) Michael Fountain Jackie Warren Stephanie Cufley Sophy Louth Lynne Tandy Sara Caine (Appointed 29 May 2023) (Appointed 21 November 2023> (Appointed 5 February 2024) (Appointed 21 June 2024) (Appointed 24 July 2024) Nadine Walsh-Gonzales Paul Conroy Graham Allan Charily number 1086957 Company number 4148695 Prlnclpal address Growing Plac6s@Mlll Hill Mill Road Waterlooville Hants P07 7DB R6glstèr8d offlce Growtng Places@Mill Hlll Mill Road Waterlooville Hants P07 7DB Audltor F J Wilde FCCA MBA DChA Warnerwilde 4 Marigold Drtve Bisley Surrey GU24 9SF COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES CONTENTS Page Trustees, report statement of Trustees. responsibililies Independent auditor's report 10-13 Statement of financial activitles 14 Balance sheet 15 statement of cash flows 19 Notes to the financial statements 18-29 Growingplaces TRUSTEE / DIRECTORS REPORT- I" April 2023 - 315t March 2024 Int oduction The Trustees / Directors present their annual report and audited accounts for the year ending 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and comply with the charity's governing document, the Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) {effective l January 20191 Com an Structure COMMUNITY CHILDCARE CENTRES (Growing Places) is an incorporated, not-for-profit, company registered by guarantee, and is also registered as a charity. The company was founded on 26 January 2001 and registered as a charity on 7 June 2001. Company details and accounts information is submitted on an annual basis to both Companies House (registration number 41486951 and the Charities Commission {registration number 10869571. Its activities are governed by its Memorandum and Articles of Association. COMMUNITY CHILDCARE CENTRES (Growing Places) have 9 childcare settings, all registered with Ofsted, providing nursery and out-of-school provision for children aged up to, and including, 11 years of age. The nurseries INI and out-of-school clubs (OOSI within the boroughs of Havant and Fareham are: Growing Places @ Cowplain, Waterlooville (N&OOSI Growing Places @ Emsworth, Emsworth (OOSI Growing Places @ Havant Academy, Wakefords Way, Havant INI Growing Places @ Little Acorns, Wickham {N&HC) Growing Places @ Merryfields, St Anne's Grove, Fareham {Nl Growing Places @ Mill Hill, Mill Road, Waterlooville IN&OOS) Growing Places @ Morelands, Crookhorn Lane, Waterlooville IN&OOSI Growing Places @ Oak Meadow, Tewkesbury Avenue, Fareham (N&OOS) Growing Places @ Berewood, Kentridge Road, Waterlooville Hants (Asc) Governance and Mana ement The governing body of COMMUN ITV CHILDCARE CENTRES {Growing Places} comprises of the CEO and the Board of Trustees (who are also the directors for the purpose of company law). The Board of Trustees meet as a full board three times a year and at various times throughout the year in delegated subcommittees, as required. The Board are responsible for the strategic direction of the company/charity. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up. A scheme of delegation is in place such that day-to-day responsibility for the provision of services rests with the Chief Executive, the Company Leadership team and Leadership teams in setting. Page I Growingplaces Role Re-elected date. (Due to 4 yr. retirement otherwise) Nov2024VICE Nov 2026 Nov 2024 CHAIR Feb 2024 Nov 2024 Resignation (if within year) , Appointment Sue Cleavle Michael Fountain Matthew Goodwin Christina Gray Emma Jervis Community Trustee Parent Trustee Community Trustee 14.01.2016 27.11.2018 14.03.2013 n/a n/a nla Parent Trustee CommunityTrustee 10.02.2020 23.12.2016 n/a Resigned 30ho12023 n/a Jackie Warren Chief Executive Officer CEO) Community Trustee Parent Trustee Parent Trustee H R Trustee 29.04.2013 Nov 2024 Sophy Louth Stephanie Cufle Sara Caine Annette Tizzard 14.11.2021 14.12.2021 21,11.2023 24.11.2022 Nov 2024 Nov 2024 Nov 2027 Nov 2025 n/a n/a n/a Resigned 30ho/2023 n/a Nadine Walsh- Gonzalez Lynne Tandy Parent Trustee 05.02.2024 Feb 2028 Community Trustee 29.05.2023 Feb 2028 n/a Lpadershl Paula Sto les Carlie Powell Finance & HR Mana Head of Nurseries er Leadershi.p Team$ Cowplain - Closed Nursery: Emma Quance March 2024 After-school (OOS): Emma Quance Havant Nurser Jess Eaton Nursery: Tia Fletcher OOS Club: Chris Warren Nursery. Sam Martin After-school (OOSI: Sam Martin Nursey. Shelley Adams OOS Club: Shelle Nurse .' Jayne Grist After-school: Belinda Lipscomb (left 31n/2023) Angela Mcgeady Se t23) Morelands Oak Meadow Merr ields Berewood ASC Adams Alongside the Chief Executive, the Trustees (Directors) have overall responsibility for the governance of COM MUNITr CHILDCARE CENTFtES (Growing Places), ensuring that the company/charity has appropriate control systems (financial and othenmisel in place, and that these are reviewed and/updated as is appropriate. The Chief Executive Officer and Trustee responsibilities include: ensuring that there is a clear structure for governing the organisation, including defining the role of any focus groups or sub-committees, giving strategic direction, determining, and safeguarding the mission and vision of the company/charity. acting prudently to protect the assets and property of the company/charity. acting as a responsible employer. Page 2 g Growingplaces ensuring proper records are maintained and financial information, used within the charity or for publication, is reliable. ensuring that the company/charity complies with its own governing document, relevant laws/regulations and the requirements placed upon it by its funders and/or other bodies. reviewing the risks to which COMMUN ITY CHILDCARE CENTRES (Growing Places), is subject, taking action to mitigate these risks and to ensure sound risk management. om an Vision Mission & Ethos 'CREATING THE FUTURE BY INSPIRING THE MOMENr . TOGETHERwe develop sociable, articulate, responsible, caring children with a tolerance, understanding and respect for each other and their community. Mission: Growing Places is a charitable companyi commltted to enhancing lives raising aspirations and creating opportunities for all stakeholders (children, their families, employees, volunteers and the Community) hos Culture: Growing Places RAISES ASPIRATIONS for all who are part of our settings. We provide a range of opportunities to encourage children to explore, think for themselves, work collaboratively with others, recognising that it is only through making mistakes that real learning happens. In doing so, we build children's resilience, self-esteem and self-belief, encouraging positive attitudes for life. To do this, we: Value each child as an individual, with rights, responsibilities and a voice that should be heard. Value our teams, ensuring continued investment in professional development, to be the best we can be. Value our families and wider community: creating a diverse environment with tolerance and understanding towards each other, recognising and valuing the importance of childhood. To fulfil this Mission, we will focus on: l) Be committed to safeguarding and promoting the welfare of Children and Young people. 2) Delivering an excellent service, which is flexible in meeting individual and community need{sl 31 Strengthening parental and community partnerships 4) Growing our people, securing the team of the future 5) Developing the Growing Places Approach including {Childcare and Education, Community and Training} 6} Ensuring good governance 71 Nlaximizing potential opportunities, to enhance/extend current provision and long-term sustainability. Ethos- Growing Places will RAISE THE ASPIRATIONS for all who are part of our settings. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Page 3 g Growingplaces ies an vements We continued to reflect on changes to children, families and team members needs, throughout the year. The introduction of the home link support worker has become a great asset to the help and support needed throughout all settings. We continue to recognise that our greatest asset is our teams and have continued to invest in team members professional development, recognising that we also need to support their emotional wellbeing alongside this. 2 team members attended Alice Sharpe residential workshops to explore the value of play this year, purchasing a whole staff training programme to share with all team members over the coming 3 years, to develop a consistent approach across all settings. Four team memberswere selected to visit Reggio Emilia for a focus study trip this year and two others visited Sweden to explore their early years centres and bring back ideas that enhance the Growing Places approach as well as develop relationships for closer working partnerships for the coming years. We had 3 articles published in Nursery World, raising the profile of Growing Places approach and making our children's learning visible. We have continued formal wellbeing meetings offered by Managers and signposted for support to our family HomeLink worker if appropriate. We have reviewed and made some small changes to the induction programme, including more online opportunities for all as well as more specific courses being identified and accessed to support development of skills and expertise. 4team members are now qualified ELSA'S, and this has proved invaluable for children who need extra emotional support. All team members have had initial training from one of the ELSA'S to support their knowledge and confidence in supporting the increasing numb er of children who need support for their emotional wellbeing, Alongside thiswe offered staff training to enhance all teams understanding and confidence in the Growing Places Approach to childcare & Education. Maintaining original values & ethos, whilst acknowledging that our own team needs as well as children's and families had changed dramatically. We have identified that we will need to continue with a focus on staff development and confidence building over the coming years, due to the rise in number of children with additional needs accessing our nurseries and afterschool's. We continue to deliver a management training programme to all new managers & rising managers. All settings have had money invested in refurbishments", general maintenance & additional spaces created by building cabins, Outdoor spaces have also been reviewed and developed. The Community element of Growing Places has continued to grow this year, with more and more individuals and families struggling and needing extra support, with food, clothing, necessities like toiletries and household items. The start of our community clothes bank'second Bloom" has been an amazing help to our local community and is so well attended and supported by volunteers. We continue to be successful with bids for funding to support community projects, including the pantry and household support funding through the local government. We were delighted to be offered a community venue in Anders Hall to allow us to extend the offer of our community projects, like Second Bloom as well as a permanent home to our afterschool and holiday clubs in the Waterlooville area. Page 4 g Growingplaces Our nurseries have continued to visit the care homes as part of us developing our own intergenerational approach and are part of a national group of professionals collating evidence and outcomes as a project called Born 4 life. We continue to document the outcomes for elders and children during these visits. We have continued our relationship with Ready Generations who have given us great support in developing our knowledge with this concept of a linked-up approach with Nursery and Care Homes. The lead team continued to offer support and develop a consistent approach by visiting settings formally once a year to identify strengths and areas of support needed for individual sites as well as Managers. This then informs their action plans for the year. This has proved successful in building consistency of standards across all settings, recognised in the 2 outstanding and 3 Good judgements from Ofsted this year, when all settings were Ofsted inspected. The recruitment of a Maintenance person has ensured that the settings are repaired in a more timely manner and has reduced the costs of many external quotes. Future Plans: Continue to work with likeminded people and groups to change education in this country, by influencing legislation through local and central government, through making children's learning visible and valuedl To continue to investigate partnership working with a local training provider to offer a more enriched programme for apprentices and develop tailored workshops that meet our teams growing professional needs, growing our own expertise within Growing Places, that can then be shared internally & externally. To develop a brochure for parents, explaining how we work, what they can expect and what we expect from them. Continue relationships with other early years experts and consultants and develop partnerships to share expertise in this country and internationally. Continue to research & work with others in the community to secure funding for and developing services to offer varied opportunities for ￿76-year-oldS to feel valued members of the community, as strong citizens, with a voice and a contribution to make. To open a Growing Places intergenerational nursery, to continue to support the work we have been undertaking over the last10 years. To continue to invest time in supporting the growing numbers of children with additional need& Developing new procedures and updating policies and communications that manage parent's expectations of inclusive practice within Growing Places. To continue to develop Growing Places Training Centre with set programmes ready to deliver to other professionals, developing and marketing our CPD offer. To continue to raise the profile of Growing Places Approach - being recognised as one of the leaders in innovation in early years- regular professional articles published-To apply for professional awards, to recognise the work that individuals and Growing Places have achieved. Continue Ecology and sustainability methods at all settings and aim to develop a recycling centre for waste materials from local businesses to be used in our settings, other nurseries and the local communities. Researching the 5 sustainability pillars and working with other leaders in the sector. Continue to research the possibility of opening a school / alternative curriculum run following Growing Places Approach. Start to offer some alternative provision options for local schools, particularly outdoors and physical opportunities, Page 5 Growingplaces Continue to actively seek out new options for the development of Havant Academy nursery, possibly a new build. Continue to research the possibility of a SEN D provision to meet the increasing needs of children with special rights. We recognise that there will need to be a huge investment in staff retraining and upskilling again nextyear, if we are to continue to meet the changing needs of our children and families, speech & Language, Communication & SEND training. Develop Level 3, 4 Childcare courses fit for purpose, liaising with curriculum designer from Cache or other further educational establishments, for Professional Development. Flnancial Sum The 'Statements of Financial Activity, shows a year-end surplus of £10,288.00 The surplus is due to good financial management. We have continued to be successful in our bids to deliver HAF programmes {Hampshire County Council scheme) for Holiday Club Spaces With the above expenditure in 23124, this is in line with company financial procedures, risk management and reserves policies (minimum O.IYo on turnover). Income Overall, income has increased by l,04Yo on 2823. Individual setting income (actual fees invoiced and early years grant): sE￿IN Mill Hill Nursery Cowplain Nursery Iclosed March 241 Havant Academy Nursery Oak Meadow Nursery Morelands Nursery Merryfields Nursery Oak Meadow OOS Morelands After-school Mill Hill OOS Cowpla i n After-school (Closed March 241 Berewood After-school Little Acorns ,202312024 £554,733.59 £257,126.00 £439,074.68 £336,954.61 £423,191.26 £295,051.82 £40,451.55 £38,039.95 £100,332.48 £42,832.75 £61,822.37 £65,209.59 £479,949.64 £275,094.08 £495,461 £221,851 £366,983.83 £361,348.09 £396,803.42 £264,600.13 £48,218.84 £55,778.35 £89,389,19 £52,047.97 £57,568.13 £115,826.12 £356,215 £387,920 £394,186 £252,266 £51,117 £51,863 £111,670 £43,293 £39,982 £58,250 Ex iture Overall, expenditure has decreased by 1.06% against 2022tt3. A full summary and breakdown of income and expenditure is available on the enclosed Financial Statements. Page 6 Growingplaces Tan ible fi as Growing Places have made repairs and refurbed existing indoor provision this year, including extensive reflooring in nurseries. Continued investment in IT equipment has again been made. Purchased work van for use of caretaker jobs throughout company. Tota I tangible fixed assets are worth £431,798123/24) £456,5571221231, £316,995 {21/221 Current Assets and liabilities We continue to monitor the levels of debt, in relation to fees invoiced. Our trade debtors currently stand at £26,259, a lower amount than 2J23: £29,114. Total debtors of £35,892 includes £9,633 relating to prepayments for Rent, Lease, and SLA We will monitor debtors for prompt payment and recovery of outstanding balances. Creditor liabilities, £130,571 is higher than previous year.12022/23: £97,654) rve Poli As a not-for-profit organisation, COMMUNITY CHILDCARE CENTRES (Growing Places) hold its reserves in a High Interest bank account and ensures that any surplus, i,e., net movement in funds, is reinvested into the organisation. Reserves are that part of a CharIt￿S unrestricted income funds that are freely available to spend. Our reserves ("total funds carried forward") amount to £1,076,494123/241, £1,148,025 (2J23.) a,195,840,121/221. In terms of expenditure this is approx. 420k of expenditure, which amounts to approx. 6 months continued business stability, should income/turnover stop. As such, the reserves are held to: Cover at least three months employee's salaries. Help manage unforeseen financial difficulties, including changes in income le.g., government Early Years 2yr/3yr old grant funds; SEN funding changes}, cost of living changes, changes in pension (e.g., any legislative requirements) as detailed in the company/charity Risk Register and Fiisk Management Policy Support the Company's vision, mission, and strategic plans, including purchasing of buildings to sustain or develop opportunities for our children and families {e.g., investment in buildings and/or land) Cover the cost of repairs and refurbishment to all our day nurseries and after-school settings, where future income may not be sufficient. Support business expenditure where there is little or no surplus (net movements in funds) in the previous financial year COMMUNITY CHILDCARE CENTRES (Growing Places) has had a sound period of financial stability. We will continue to deliver high standards in quality, maintain our strong reputation, through kindness and support to all or families in these difficult and uncertain times. We will continue to develop and review our management systems in order to support decisions required to keep a robust organisation through these ever-changing times. Trustees, the CEO and the members of the Company Leadership team will continue to monitor the level of resewes held to ensure the charity is operating efficiently. Page 7 COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Trust6es' report was approved by thè Board of Twstees. COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 Tho trustees. who are also the directors of Communlty Childcare Centres for the purpos& of company law, are responslbl6 for preparing the Trustees, Report and the financial statements in accordan￿ wlth applicable law and United Klngdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financi81 year which give a true and fair view of the state of affairs of the charlty and of the incoming resources and appllcation of resources, includlng the income and expenditure. of the charitable company for that year. In preparing these financial statements, the trustees are required to: select suttable accountlng policlas and then apply them consistently. - observe the methods and principles in the Charltles SORP; - make judgements and estimates that are reasonable and prudent. and prapare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responslble for keeping adequate accounting records that dlsclose with reasonable accuracy at any time the financial position of the charfty and enable them to ensure that the financlal statements comply with the Companies Acl 2006. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable steps for the prevention and detection of fraud and other Irr8gularities. COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES Opinion We have audited the financial statoments of Community Chlldcare Centres (the 'charlty') for the year ended 31 March 2024 which comprisè the statement of financial acllvltles, the balance sheet, Ihe statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicablo in Ihe UK and Republio ol Ireland {United Kingdom Generally Accepted AG¢ounting Practice). In our opinion, the financial statements- give a true and fair view of the stat8 of the charitable company's affairs as at 31 March 2024 and of its Incoming resources and appllcatlon of resources, for the year th6n ended. have been properly prepar8d In accordance with United Kingdom Generalty Accepted Accounting Practice. and have been preparèd in accordance with the requiremènts of the Companies Act 2006. Basis for oplnlon We conducted our audit in accordance wlth International Standards on Audltlng {UK) (ISAS (UK)) and appllcable law. Our responsibilities under those standards are further described in the Auditor's responsibillties for the audit of thè financial statements section of our report. We are Independent of the charity in accordance with the ethical requirements that are r616vant to our audit of the flnancial statements In the UK, Including the FRC'S Ethical Stsndard, and we have fulfilled our other ethlcal responsibilities in accordanco with these requirements. W6 b8llev8 that the audit evidence we have obtalned Is sufficlent and appropriate to provide a basis for our oplnlon. Concluslons relating to going concern In audlting the financial statemonls, we have concluded that the Trustees, use of the golng concem basis of accounting in the preparatlon of the financial statements is appropriale. Based on the work we have performed, we have not identsfied any material uncertainties relatlng to events or conditions that. individually or collectively, may cast signÈficant doubt on the charity's abillty to continue as a going concern for a period of at least iwelve months from when the financial statements are 8ulhorlsed for issue. Our responsibilifjes and the responsibllities of Ihe trustees with respect to going concern are described in the relevant sections of this report. Other infonnatlon The other infomiation comprises the information included in the annual report other Ihan the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not Cover th6 Other infomiation and we do not 6xpress any fom) of assuran￿ condusion thereon. Our responsibllity is to read the other infonnation and, in doing so, consider whether the other information is materially inconslstent wlth the financial statements or our knowledge obtained in the course of the audit, or otheNise appears to be materially misststed. If we identify such material inconsistencies or apparent materlal misststements, we are required to detemilne whether this gives rfse to a material misstatement In the financial statements thémselves. If, based on the work w6 have performed. we conclude that there is a material misstatement of thls other Infomiation, we are required to report that fact. We have nolhlng to report in this regard. Matters on whlch we aro requlred to report by excèptlon We have nothing to report in respect of the followlng matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: the Information given in the financial stat6ments is inconsistent in any materfal rèspect with the Trustees, report or sufficient accounting records have not been kept,. or the financlal statements are not in agreement wlth th6 accounting records. or we have not r8calv8d all the infomation and explanatlons we require for our audit. 10- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES Responslbilities of trustees As explained more fijlly in the ststement of Trustees, responslbilities, the truslees. who are also the directors of the charity for the purposo of Gompany law. are responsible for the preparation of the financial statements and for being satisfied that they glve a true and fair view, and for such Internal oontrol as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whethar due to fraud or error. In preparing the financial statements, the truste8s are r8sponsible for assessing the charity's ability to continue as a going concern, dlsclosing. as applicable, matters related lo going con￿rn and using the golng concem basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic altemative but to do so. Audltovs responsibilities for the audlt for the flnanclal statements We have baen appolnted as auditor under seclion 144 of the Charities Act 2011 and report in accordancè with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether Ihe financlal statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that Includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted In accordance with ISAS (UK) will always detect a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material rf, individually or in the aggregat&, they could reasonably be expected to influénce the economic decisions of users tak@n on the basls of these financlal statements. Audltor's responslbllltles for the audlt of the financial statements The extent to which our procedures are capable of detecting irregularltles, Including fraud, is detsiled below. 11 COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES Our approach to identifying and assessing the rlsks of materlal misstatement in respect of irregularities, Including fraud and non-oompliancè wlth laws and regulations, was as follows.. the engagement partner ensur6d that the engagement team collectively had the appropriate compètence. capabllltles and skllls to identify or recognise non-compliance wlth applicable laws and regulations; we identified the laws and regulations appllcable to the charity through discussions with trustees and other management. and from our knowledge and experience of the charity and early years childcare sector,. we focus8d on specific laws and regulations which we consldered may hav6 a dlmct material effect on the flnancial statements or the operations of the charlty, the Charities Act 2011, taxation legislation, data protection. employment, environmental and health and safety legislation; we assessed the extent of compliance with the laws and r8gulallons Identlfied above through making enquiries of management. and identified laws and regulations were communicated within the audit team regulady and the team remained alert to instances of non-compliance throughout the audit. We assessed th8 susceptibilily of the company's financial statements to material misstatement, including obtsinlng an underslanding of how fraud might occur, by- maklng enquiries of management as to where they consldered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud. considering the intemal controls in place to mitigate risks of fraud and non-compllance with laws and regulatlons- and testing conlrols with walk through procedures and substantive transaclion testing,. To address the risk of fraud through management bias and override of controls, we: perfomied analytical procedures to identify any unusual or unexpected r61ationships' tasted joumal entries to identify unusual transaetlons; assessed whether judgements and assumptions made in delermining any accounting estlmat8s were indlcatlve of pot6ntial bias., invesligated the rationale behind significant or unusual transactions., and In response to thg risk of irregularities and non-compliance with laws and regulations, we designed procedur6s which included, bLrt were not limited to.. agreeing financial statement disclosures to underlylng supportlng documentation., reading the minutes of meetings of those charged with govemance. enquiring of management as to actual and potential litigation and ¢lalms- revlewing correspondence with HMRC and relevant regulators such as the Charfty Commisison A further descriplion of our responsibilities for the audlt of the financial statements is located on the Financial Reporting Council's website at: http:Ilww.frc.org.uklauditorsresponsibilities. This description fomis part of our auditorfs report. 12- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF COMMUNITY CHILDCARE CENTRES This report is made solely to the compantys members, as a body, In accordance with section 391 of the Companies Act 2014. Our audtt work has been undertaken so Ihat we might state to the company's members Ihose matters we are requlred to state to them In an auditorfs report and for no other purpose. To the fullèst extent permitted by law, we do not accopt or assLtme résponsiblllty to anyone other than the company and thè companws members as a body, for our audit work, for this report, or for the oplnlons we have formed. frfu'j F J Wilde FCCA MBA DChA Senlor Ststulory Auditor 23 December 2024 Chartered Certrfied accountants Statutory Auditor Wamer Wilde 4 Marlgold Drive Bisley Surrey GU24 9SF F J Imlde FCCA MBA DChA Is ellgible for appolntment as auditor of the charity by virtue of eliglblllty for appointment as auditor of a company under section 1212 of the Companles Act 2006. 13- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrictèd Rostrlcted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacles Charitable activiti6S Other trading actlvlll8S Investments 8,009 2,668.035 2,518 12,512 35.612 43,621 7,160 2,675,195 2,518 12,512 42,378 2,619,263 1,045 3,428 30,000 72,378 9,605 2,628,868 1.045 3,428 Total income 2,691,074 42,772 2,733,846 2,666.114 39,605 2,705.719 Expenditure on: Raising funds Charitsble activitles other expendlture 3,816 2.663,668 46 3,862 56,028 2,719,696 6,735 2,745,176 825 6,735 2,745.176 825 14 Total expendlture 2,667,484 56,074 2,723,558 2,752,736 2,752,736 Net incomol(expenditure) and movement in funds 23,590 (13.302) 10,288 (86,622) 39,605 147.017) Reconciliation of funds: Fund balancés at 1 April 2023 1.076,494 71,531 1,148,025 1,163,116 31,926 1.195,042 Fund balances at 31 March 2024 1.100,084 58,229 1,158,313 1,076,494 71,531 1.148,025 The statement of financial 8Qtivitias includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 14- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tanglbl6 assets 16 431,798 456.558 Current assets Debtors Cash at bank and in hand 17 35,892 821,194 37,953 751,168 857,086 789,121 Cradltors: amounts falllng due wlthln one year 18 (130,571) (97,654) Nel current assets 726.515 691,467 T¢)tal assets less current Ilabllltles 1.158.313 1,148,025 The funds of the charity Restrlcted Income funds Unrestricted funds 20 21 58,229 1,100,084 71,531 1,076,494 1.158,313 1,148,025 The company is entitled to the exemplion from the audit requirement contalned in section 477 of the Companies Act 2006, for the year 6nded 31 March 2024. although an audit has been carried out under section 144 of the Charities Act 2011. The directors acknowledge their responsibilities for complylng with the requirements of the Companies Act 2006 with respect to accounting records and ihe preparation of finandal statements. The members have not required the company to obtain an audit of its financial statements under the requirements of thè Companles Act 2006, for the year in question in accordance with s6Ctlon 476. These financial statements have beèn prepared in accordance with the provlslons appli¢able to companies subject to the small companles reglme. The financial statements were approved by the trustees on- Company registration number 4148695 (England and Wales) 15- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles Charlty Inforniatlon Community Childcare Centres is a prlvat6 company limited by guarantee Incorporated in England and Wales. The registered office is Growlng Places@Mill Hill, Mlll Road, Waterloovllle, Hants, P07 7DB. 1.1 Accountlng conventlon The fflnancial statements have been prepared in accordance with the charlty's goveming document. Ihe Companies Act 2006 and 'Accounting and Reporting by Charltles: Statement of Recommended Practlce applicable to chartties preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)" The charlty Is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared In sterling, which is the functional currency of the charity. Monetary amounts in these financial Statements are rounded to the nearest £. The financial statemènts have been prepared under the historical cost convention, Imodified to includ6 the revaluation of freehold properties and to indudè inveslment properties and certain financial instruments at fair value]. The prlncipal accounting policies adopted are set out below. 12 Going concern At the time of approving the financlal statements, the trustees have a reasonable expectation that Ihe charity has adequate resou￿$ lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of ac¢ounting in prèparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees In furtherance of their charltable objecliv85. Restricted funds are subject to SP8clfic conditions by donors or grantors as to how they may be used. The purposes and uses of the rèstrictèd funds are set out in the notes to the financial statements. Endowm6nt funds are subject to specific conditions by donors that the capilal must be maintained by the chaTIty. 1.4 Income Income Is recognlsed when the charity is legally entitled to it after any performan￿ conditions have been met, th8 amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are r@cognised once the chartty has been notlfied of the donation, unless performance condltlons requlre d6ferral of th6 amount. Income tax recoverable In relation to donations received under Glft Aid or deeds of covenant Is recognlsed at the time of the donation. Legacies are reo)gnised on receipt or othetwise if the charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is nDt known. the legacy is treated as a ontingent asset. 16 COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Contlnuod) 1.5 Expenditure A Ilablllty is recognised once a constru¢tive or legal obligation is identified. settlement is probable settlement and the amount can be mèasured reliably. Costs arè allocated to expenditure headings that aggregate similar costs to that category and where costs cannot be directly attributèd, they aré temied support or goveman costs and allocated to the charity's activities. The charlty Is potentially exempt from taxation by virtue of tts charitable status and the exemptions that conveys. The charlty Is not VAT reglstered and any Irrecoverable VAT associated with expenditure is allocated to the same cost headings as the expenditure It relates to. 1.6 Tanglble fixed assets Tanglble fixed assets are Inltlally measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreclation is recognised so as to write off the cost or valuation of assels less their residual values over thelr useful lives on the followlng bases= Freehold land and buildings Leasehold land and buildings Fixbjres and fittings Motor vehicles 20/D on buildings, Otk/o on land The length of the tease or 10 years If not determlned. 25¢JA reducing balance 250/0 reducing balance The gain or loss arising on the disposal of an assel is detemiined as the difference between the sale prO￿edS and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity r8views th6 carying amounts of its tangible assets to determine whether there is any indication Ihat those assets have suffer6d an Impaimiènt loss. If any such indication exlsts, the recoverable amount of the asset is estimated in order to detemiine the extent of the Impalmient loss (rf any). 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, oth&r short-tèrm liquid investments wtth orlglnal maturit18s of three months or less, and bank overdrafts. Bank overdrafts ar8 shown thin borrowings in current liabili118S. 1.9 Financial instruments The charity has elected to apply the provlsions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 lo all of its financial instruments. Flnancial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and Ilabilities are offset, with the net amounts presented in the financial stalements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and seltle Ihe Ilabillty slmullaneously. Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carrled at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, wherè the tr8nsaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as recelvable within one year are not amortised. 17- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Contlnuedl Basic financlal Ilabllltles Basic financi81 liabllities, Including creditors and bank loans are initlally recognised at transaction price unlass the arrangement constitutes a financing transaction, where the debt instrument is measured at Ihe present value of the future payments discounted at a market rate of interest. Financial liabillties classified as payable within one year are not amortised. Debt instnjments are subsequently carried at amortised cost, using tho effective interest rate meth¢)d. Trade creditors are obligations to pay for goods or servlces that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabllitles If payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction prfce and subsequently measured at amortised ¢ost uslng the effective interest method. Derecognitlon of flnanclal Ilablllties Financ5al liabilities are derecognised when tha charity's contractual obligations explre or are discharged or cancelled. 1.10 Employee beneffts The cost of any unused holiday entitlement is recognised In the perlod in which the employee's servlces are received. Termination benefrts are recognised immediat61y as an expense when the Charity is demonstrably committed to temiinate the employment of an employ88 or to provide temination benefits. 1.11 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 18- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from opèratlng activities Cash generated from operatlons 25 69,893 19,737 Investing activitles Purchase of tangible fixed ass8ts Proceeds on disposal of tangible flxed assets Interest received 112,381) (175,361) 15,070 12.512 3,428 Net cash generated froml(used In) Invostlng activities 15,201 (171,933) Net cash used In flnanclng activities Net increasel(decr8ase) In cash and cash equtvalents 85,094 (152,196) Cash and cash equivalents at beginning of year 751,168 903,362 Cash and cash equivalents at end of y8ar 821.194 751,168 19- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Crltlcal accounting estlmates and judgemènts In the application of the charfty's accountlng pollcles, the trustees are required to make judgements, estimates and assumptions about the carrylng amount of assets and Ilablllties that are not readily apparent from other sources. Thè estlmates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and und6rlying assumptions are reviewed on an ongoing basis. Revisions to accounllng estimates are recognlsad In the period In which the estimate is revised where the revision affects only that perfod, or In the period of the revision and future periods where the revision affects both current and future periods. Income from donatlons and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrastrlcted Restrfcted funds funds 2023 2023 Total 2024 2023 Grants 8,009 35,612 43,621 42,378 30,000 72,378 Grants Hampshlr& County Council - discretion grants HSDC - Apprentices Connect 4 Household Support Fund Hampshire County Council- Community Pantry Grant Neighbourly Foundation other 5,525 5.525 16,552 6,791 6,750 16,552 6.791 6.750 12.000 12,000 21.000 21.000 30,000 30,000 5,000 7,285 5,000 7,285 2,484 2.612 5.096 8,009 35,612 43.621 42,378 30,000 72.378 Incomo from othar tradlng actlvltles Unrastrlctod Unrestrlctod funds funds 2024 2023 Fundraising events 2,518 1,045 -20- COMMUNITY CHILDCARE CENTRES TRADING AS GROWING PLACES STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In¢ome from Invesljnents Unrestricted Unrestrlcted funds ftinds 2024 2023 Interest receivable 12,512 3,428 21 OCD O Q) CO Ln ¢J) r O r&q o c c q)