REGISTERED COMPANY NUMBER.. 06065754 {England and Wales) REGISTERED CHARITY NUMBER: 1118357 ofthe Trust•e# and Unaudiled Financial Statoments For The Year Ended 31 st 2025 aret Mcmillan Llmi TC B￿mhead Limsted Harsc(xllbe House 1 Damake View plym￿lh Devon PL8 7TL ret Mc Contenis of the Finaneial Statemonts For The Year Ended 31 Au U5t 2025 Pago Report of the Trustees 1 to 4 Indgpondent Examinerfs Report statem•fil of Financial Actlvities Balance Shggt Cash How Statement Notss to the Cash Flow Statement Note$ to the Flnancial Stal8ments 10 10 16 Detall•d Statgment of Flnancial Activities 17 to 18 ret Mcmtllan Umtted istgred numljer. 06065754 rt of ￿ Trustees For The Year Endod 31 ust 2025 The trustees who are also diiedors of Ihe charity ts th8 pur￿18e$ of the Companies Act 20C6. present their report wth the financi￿ ststernents of the charity fDr year ￿ded 31 August 2025. Thè trustees have adopted the provisions of Accounting and Rewting by Charities". Statement of Recommended Practice appI￿able to tharities weparing their accounts in accordance vAlh the Iinanaal ReportitwJ St8rKlard ap￿ICal￿e in the UK and Republi¢ of I￿l￿nd (FRS 102) leffeclive 1 January 2019). This is thè Trustees, Annual Re￿ for Margar8t M(*lillan Nursery timited. It irt0[p￿¢S the ajdibonal conlent required of larger eharib.ès lo be compliant wth the charib.es Statement of Recommended Practice. OBJECTIVES AND ACTMTIES Objectives and alms Our charitable objects arè Ihè F)rovBion of nurswy educabon ts thildren under the age of six years whose parent or parents or guardian or guardians are résident in or %those pl￿ of wotk is in the bounds ofthe aty of Plymouth together Yth the piovision of recreational facil￿e$ frJr such thldren together any other tharitable purposes which the executive committee d80ms tr) be for the benefft of such children.. In this rer)orting year we have continued to fwate the Margaret Mcmillan NUt￿ry prowding nursery education for childr8n from birth to entry into primary schLX)l. The Nursery is diwided into Baby, Tiny Tols. Trxldler and Pre-school units. Our mission is to 8nh8neA the lives of chIld￿n and tfvr familvès by prowdiThJ a safe pla(* of excellence and innovation, where children can devetop. communicate cx)nfidenUy. LKJild resilience. become Ind&￿ndent and are (x)urtÈous to all_ We provide plaGes for up to 70 children w day. The 8X8d ￿rnb￿ is limited by slaffing ralK)s for particular groups. the capacity of the building and the requirements of Ihose thildren ￿ryth Special Educational Needs. The number of thildren on roll is also influenced by the needs of parents for fijll ￿ p8rt-time places. The Nursery pattiGipales in the Govemmenvs free childcare scheme, enabling access for all. The tsuslees have had regard to the Charrty Comtllissionerfs widance on public ben&ffit". Wè pro￿de nursery care for children w￿se parents live or work in the City of Plymouth. Our I(￿110￿ in the City Centre enablès parénts lo return to work in thè knowle(*Je that their thildren are being cared for in a secure, caring and stimulating environtnenl. designed to enc1)ur￿e young children frorn birth lo five years to grow in confidence and independence and devebp tfvr Thtiwty and individual personaltbes. Thè nursery delivers early education benefits for thildren through tr￿gh qualty provisK)n and earfy inteT¥ention (where required) that wovidès a strong slart to their statutory sthooling and improwng their suc(*ss foi Ihe futur8. Et is expected Ihal Ihe nuTsery wll continue to prowde pre-sclNxA ￿UCation for the foreseeable futurÈ. Education continues to evolv2. and the Nursery will continue to res￿nd to these changes. through the artive search for and implementation of best practice or driven by govemment p)Iy as arti￿1[al￿d Ihrough legislation and OFSTED. Our activities therefore directly furthai our objeGbve. Publlc benefit The trusteBs havo had regard lo the Charity COMMIS￿orterf5 guidance on W￿1C benefit.. We provide nursery care for ildren whose parents live or work in the Cty of PJymoLth. Our location in the City Cen1￿ enables paronts l() relum to work in the knowledge that their thiklren are being cared for in a sÈtAJre, caring and stimulating environm¢nt. designed lo oncourage young children frcxn birth to five years to grow in confi¢Jence and irKlependence and develop their ￿atIV￿ 8nd individual personaliEies. The nursèry delivers early education tenefit5 for thildren through high quality provision and earty intetvention (where required) 1hat prowdes a str￿g start to th￿r staluiory scJJoolÈn9 and improving their S￿￿eSS for the future. The trustees have complied thg ojuty ui sec*on 17{5) of the 2011 Charitie5 Act lo have due re9ard to guidancè issuéd by the Charity Commissian. Page 1 ret Mc -11 Limit istered number. 06065754 ortof For Th• Y•ar Ended 31 A t 2025 ACHIEVEMENTS AND PERFORMANCE Charitsble activities The Nursery has been impacted by the new Government roll out of 30 how funding for children from 9 ￿nthS and the growsng number of nursery unTts connected to ￿"Mary sthwls. AIthou9h the number of enquiries from parènts for spaces at our nursery is sldl buoyant. The nursery has 0￿rated at frjll capacity throughout the reportiry wod. The SLKcess of the nursery cc￿tinueS to b¢ monitoréd by reference to Otsted inspections and ratings and has been maintsined at 8 good ￿ve[ wo ￿ntinue to enjoy positive feedbado from parents and from the primary scknls that our thfidren move on to. The continued commitment and hard of Ihe staff Imstees has enabled th• charity to continue lo hold on to sufficient reserves to assist Mi maintaining the finanoal seujrity of the nursw. The purchasing of the freehold of 24 Hoe Street continuès to be a lon￿terM aiffl of the trust￿ al￿9 with lh¢ purchase of the lar￿ opposite the nursery, curretLUy rented and used for parking spaixs. Difficultie8 in recruitment and retention of staff with relevant expenence and quxlrficAtions continues lo impact nursery provislon. However, managem8nt staff are often div¢rted lo nursery dulies to mantain safe stafflthilrl ratios, th the resulting impact t)n their primary roles. Otherthan our Twstees there is no 3igntfieAnt volunteer element to our actiwbes. FINANCIAL REVIEW Flnancial position The Trust's financial position at the end rftrÈ ￿ar is cortsidered to IE 5absfadory In adcfrtion the financAal performancè of the nursery is monitored ar￿ discuss￿ at each trustee rneeling with satisfactory results for the year. The n8t operating defirit fw the year anTr)unted to £2.99812024: r￿1 operating surplLtsldeficit £32.2￿>. The unre8trietÈd fftjnd held at the yeat ¢wwJed 31 August 2025 was £501.668 (2024.. £504,W). Expenditure for the year has been made to support the dmritls objecAives of widing qualty nur8ory education and childcare. Prlnclpal fvnding $¢urees The charitys inwm¢s ale from parent5 for thè prowwon of nu￿ fe￿ outsKle of any fund￿1 ￿[lod$ and from grant income from lh¢ local authority. Investment Poticy The management Committee has CC￿sIdered the most appropnate policy for investirvJ funds and has found that investing surplus funds in a deposit acc(MJnt meets their requirements. The management (x)mmttl88 consider the relu that th8y r¢Geive on their investTnÈnts to be satisfactory. The d)arity also holds £4,W (2024.. £4,000) invèsted in National Savin98 Certikates. It 15 intèndèd to liquidate thi5 investment Total invesknent income from 811 sources was £4,538 for thè y8ar12024: £4.9741. Reserves pollcy The TrustèÈs have established a polrcy whereby the vnreslricXe(I funds not comrnittÈd or invested in langible fixed asse15 Clhe free ￿serveS￿ held by the charity shoukl be three months of resourcès expended. At this bevel. the management o)mmittee fèél that they would be able to continue the ￿rrent actiwties of the charity in the event of a significant Ios5 of income. It would Obv￿uSIy tE [￿È$sary to consider how the Ir￿Me would ￿ rÈplaced or activities changed, The charity prepares budgets eath year whiGh are rÈgularty reviewl by the trustees against actual performancg. Variances from budgel are ￿ported tC* Ihe Iruslees for o)nsideration. Al capiial exFEnditure outside of the normal budget is apprnved in advance by Iruslees. The unexpected ar￿ signifiixnt increase in minimum wage. the roll (Krt of th8 Govemrnent 30 houi funding for children from 9 rnonths has had an impact on Ihe nuT5erfs budget and this COu￿ed the Gost-Df-living crisis, rising energy prices and food costs. ha5 had a nc*ticeable finanual iTllPaCt. Page 2 Mar aret Mcmillan Limited istered number. 06065754 ort of th? T￿￿tee$ ForThe Year Ended 31 A ust 20 FUTURE PLANS The Charity will continue to m*ntsin the 9ood reputaknon Ihat it has vAlhin the City tsf Plymouth and to continue to prowde fir8t-d&8s nursery care for children of pr&seho(A age. The tharity curr8ntty occupies the propety kr￿rn as 24 HLE Street un(kr 8 99-year lease exF4ring on 29 April 21 D1. Our long-temi aim is to acquire th6 fr•èhtsJd of thè property to improve security oftenui¢. Th& incmasè to &Jvérnment-funded Yree childcare- WIth￿rt 5ufrienl Govemment fvnding. fvrther substantial increasès lo the Liwng wage and incrèasé to Employers, National InSurar￿e CtinlriEMthns wll provide a further financial challenge. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing docum•nt The Charity is constiiuted under a trust deed dated 23 October 1995. The dwritabb ci)mpany is governed by its Memorandum and Articfes of Associats"ow) from its incorporal•)n on 24 January 2007. and t￿$t￿uleS a limited company. mttèd by guarantèé as defined by the Companies Aci 20￿. Rg¢TUttmgnt and appointment of ngw truste•s The members carry out the eleCt￿n of the offial statements Page 9 Mcmillan Llmtted Notes to the Financial Statements For Thè Year Endèd 31 A ust 2025 ACCOUNTING POUCIES Basis of preparing the financial statemènts The financial statements of the ch8ritabl¢ co[￿, which is a putrAic trÉnefft entty under FRS 102. have beèn prepared in accordance with the Charities SORP