MOORE Charity registration number 11119196 Company registration number 05304299 (England and Wales) SQUIRRELS DAY NURSERY (CORBY) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
SQUIRRELS DAY NURSERY (CORBY) LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees C L riley H Reid Charity number 11119196 Company number 05304299 Registered office Hazelwood Neighbourhood Centre 154 Gainsborough Road Corby Northamptonshire NN18 OQF Independent examiner Moore Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
SQUIRRELS DAY NURSERY (CORBY) LIMITED CONTENTS Page Chaimian's statement Trustee report Independent examine¢s report statement of financial activities Balance sheet Notes to the financial statements 7-14
SQUIRRELS DAY NURSERY (CORBY) LIMITED CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 has again been a busy but also challenging year for the charity. The early years sector has nalionally been hindered by a lack of qualified and experienced practitioners. This ongoing problem has meant that recruitment has been very hard. The impact of this is that the nursery has not been able to run at its full capacity due to staff lo child ralio regulations. This has had an impact on Ihe nursery's financial incomings. However, the charity is still committed to continuing the recruitment program and will hopefully be successful as they have a waiting list of families that are eager to have a place for their children at the nursery. Chairnian Date.. 13August 2025
SQUIRRELS DAY NURSERY (CORBY) LIMITED TRUSTEE REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their annual report and financial statements for the year ended 31 December 2024. The financial slatements have been prepared in accordance wilh the accounting policies set oul in nole 1 to the financial statements and comply with 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 Reporling Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. Objectives and activities The charity's main aim is to advan the education and development of children under statutory school age., offer appropriate learning experien$ and play faciif(ies- to ensure the nursery offers opportunilies for all children whatever their race. culture, religion. means and abilty and encourage parents to become involved in the activities of the nursery. The trustees have considered the Charity Commission's guidance on public benefit. induding the guidan 'public benefit= running a charity (PB2)'. Public benefit The Iruslees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Significant activities and achievements against objectives The company has buili on the achievement of becoming a registered charity following its development through the Neighbourhood Nurseries Initiative. The nursery continues to focus on the developmenl of Ihe projecl to improve Staff skills under the 'Every Child's a Talkerf programme and prornob'ng the vrk of the charity and the childcare facilities offered. The trustees feel that the charity has been successful in delivering its core fijnction of nursery provision and reaching all areas of the community, in such a demanding year. Financial review The majority of funding continues to be derived from fees paid for nursery places. Total income from charitable activities including milk subsidies amounts to £379.101 (2023 £370.784)- Salaries are the charities largest cost and tolal employmenl costs including pension cost amounted to £331.615 (2023 £323.841). General charitable overheads have been kept under dose review and have decreased to £52,347 {2023 £55,705). There 15 a deficit for the year of £12,061 (2023 deficit £17.215). During 2024 the trustees have introduced a rise in fees to balance out the rise in the outgoings. The finances will be monitored closety and further price increases made as required. Reserrfes The charity holds general selveS at the year*nd of £13,936 {2023 £25,997). This is below the charity's objective to hold reserves of at least three months operating costs. The charity continues to fomiulate a more structured reseNes policy and it is hoped thal this level can be brought back in line Ihrough increased nursery places and potential grants and fund raising.
SQUIRRELS DAY NURSERY (CORBY) LIMITED TRUSTEE REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management Governing document Squirrels Day Nursery {Corbyl Limited is a charitable company limf(ed by guarantee governed by its Memorandum and Articles ofAssociation dated 3rd December 2004. It Is registered as a charity with the Charity Commission. Anyone over Ihe age of 18 years can become a trustee or member of the company- currenlly there are three members, each of whom agree to contribute £1 in the event of the charity winding up. Recruitrnent and appointrnent of trustees The current Iruslees have been recruited from employees holding management positions and directors. Recruitment is adverlised internally for vacancies and approaches made to parents. New truslees are given a copy of the Memorandum and Articles of Association together with the lalesl set of financial accounts and instructed on the duties and responsibilities of a charity trustee. All current trustees are familiar with the work of Squirrels Day Nursery (Corby) Limited as they are employees and directors. Pay policy for senior staff The board of trustees are responsible for the recruilment and setting pay policy. Pay and salaries are reviewed annually by the board and are set with reference to govemment and local authority guidance as budgets permit. The trustees, who are also the directors for the purpose of company law. and who seNed during the year and up to the date of signature of the financial statements vre= C L Tiley K Y Blincowe H Reid (Resigned 28 February 2025) The trustee report was approved by the Board of Trustees. C L Tiley Trustee 13 August 2025
SQUIRRELS DAY NURSERY (CORBY) LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SQUIRRELS DAY NURSERY (CORBY) LIMITED We report lo the trustees on our examination of the finanoal statements of Squirrels Day Nursery (Corby) Limited (the charity) for the year ended 31 Dember 2024. Responsibilities and basis of report As the trustees of the charity {and also its directors for the purposes of company law) you are responsible for the preparation of the financial slatements in accordan with the requiremenls of the Companies Act 2006 {the 2006 Act)- Having satisfied ourselves that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of the charities financial statements carried out under section 145 of the Charilie5 Act 2011 {the 2011 Act). In carrying out our examination we have followed all the applicable Directions given by the Charity Commission under section 14515)Ib} of Ihe 2011 Act. Independenl examinerfs ststement We have completed our exarnination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independenl examinalion., or the financial statements have not been prepared in accordan wrth the methods and principles of the statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. We have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. ha MOORE Dated.. 13 August 2025 Oakley House Headway Business Park 3 Saxon Way West Corby Northamptonshire NN18 9EZ
SQUIRRELS DAY NURSERY (CORBY) LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted funds 2024 Unrestricted funds 2023 Notes Income from: Charitable activities 379.101 370,784 Total income 379.101 370,784 Expenditure on: Raising funds Charitable activities 113,722 277.440 113,263 274,736 Total expenditure 391.162 387,999 Net expenditure and movement in funds 112.0611 {17,215) Reconciliation of funds- Fund balances at 1 January 2024 25,997 43,212 Fund balances at 31 December 2024 13,936 25,997 The stalement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
SQUIRRELS DAY NURSERY (CORBY) LIMITED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 10 15,223 18,426 Current assets Debtors Cash at bank and in hand 11 3,852 2.898 5,546 8.895 6.750 14.441 Creditors: amounts falling due within one year 12 (8.0371 {6.8701 Net current {liabilities)lassets (1,287) 7.571 Total assets less current liabilities 13,936 25,997 The funds of the charity Unrestricled funds 14 13,936 25,997 13,936 25,997 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2024. The trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the pparatIOn of financial ststements. The trustees have not required the company lo obtsin an audit of its financial statements for the year in queslion in accordance with section 476. These financial slatements have been prepared in accordance with the provisions applicable to companies subjecl to the small companies regime. The financial statements were approved by the trustees on 13 August 2025 C L Tiley Trustee Company registration number 05304299 {England and Wales)
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity infonnation Squirrels Day Nursery {Corby} Lirnited is a private company limtted by guarantee incorporated in England and Wales. The registered office is Hazelwood Neighbourhood Centre. 154 Gainsborough Road, Corby, Northamptonshire, NN18 OQF. 1.1 Accounting convention The financial statements have been prepared in accordance wilh the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I"FRS 102") and Ihe Charities SORP "Accounting and Reporting by Charities= Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effeclive 1 January 20191. The charity is a Public Benefil Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional cUencY of the charity. Monetary amounts in these financial stslements are rounded to the nearest £. The financial stalements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequale resources to continue in operational existence for the foreseeable fulure. Thus the Iruslees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charilable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific condtlions by donors that the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legalty entitled to it after any perfomiance conditions have been met, the amounts can be measured reliabty, and r( is probable that income will be received. Income from trading activities indudes income eamed from fundraising events and trading activities to raise funds for the charity-
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or conslruclive obligation lo transfer economic benefil lo a third paty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity- The costs of each activty are made up of the total of direct costs and shared cosls, including support cosls involved in undertaking each activity. Direct cosls attribulable to a single activity are allocated directty to that activity. Shared costs which contribute to more than one activty and support costs which are not attribulable to a single activty are apportioned belween those activities on a basis consistenl with the use of resources. Cenlral slaff costs are allocated on the basis of time spent, and depreciation charges are allocated on the porbon of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are iniiialty measured at cost and subsequenty measured at cost or valuation, net of depreualion and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Leasehold land and buildings Fixtures and fittings Computers 4% straight line 20°/0 reducing balance 330/0 reducing balan The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the assel, and is recognised in the statemenl of financial activities. 1.7 Impaimient of fixed assets At each reporting end dale, the chartty ewS the carying amounts of its tangible assets to delemine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimaled in order to delemine the extenl of the impairment loss (rf any). 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposits held at call with banks, other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in currenl liabilities. 1.9 Financial instruments The charity has elected to appty the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Inslrumenls Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wrth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the COgnised amounts and there is an inlenlion to settle on a nel basis or to realise the asset and setde the liability simultaneousty.
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies (Continued) Basic financial assets Basic financial assels, which indude debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequentty carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interesl. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are nol amortised. Debt inslrumenls are subsequentty carried al amortised cost, using the effective interesl rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operalions from suppliers. Amounts payable are dassified as currenl liabilities 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 price and subsequently measured al amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charitls contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cosl of any unused holiday entttlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due. Nursery fees 2024 2023 Nursery fees 379,101 370,784
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Tradin costs Support costs 113,722 113,263 113,722 113,263 Charitable activities 2024 2023 Staff costs Food costs 270,240 7,200 266,283 8,453 277,440 274,736 277,440 274,736 10-
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Support Costs Support Govemance costs costs 2024 Support Governance costs cosls 2023 Staff costs Depreciation Sundry expenses & subscriptions Advertising Rent and rates Light and heat Cleaning Bank charges Insurance Speech and language therapist Trips and aclivities Toys and equipment Athork materials Accountancy fees Legal and professional Clothing Telephone and postage Repairs and renewals Printing and stationery Computer expenses 61.375 61.375 3,202 57.558 57,558 3,342 3.202 3,342 1.576 462 16.571 7,437 4.561 428 1.705 1.576 462 16.571 7.437 4.561 428 1.705 2,388 393 16,746 7,166 3,897 401 1,537 2,388 393 16,746 7,166 3,897 401 1,537 3.024 126 1.729 557 3.071 1,105 3.024 126 1.729 557 3.071 1,105 2,160 304 588 427 7,678 1,464 224 2,165 3,443 478 904 2,160 304 588 427 7,678 1,464 224 2,165 3,443 478 904 1,758 3.676 409 946 1,758 3.676 409 946 61.375 52.347 113.722 57,558 55,705 113,263 Analysed between Trading 61,375 52,347 113,722 57,558 55,705 113,263 Net movement in funds 2024 2023 The net movement in funds is ststed after chargingl{crediting)= Exchange losses Fees payable for the independent exarnination of the charity's financial slatemenls Depreciation of owned tangible fixed asset5 Operating lease charges 462 393 3,071 3.202 1,576 7,678 3,342 2,388 11
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees C Tiley, K Blincowe and H Reid are related to the charity due to their position as Iruslees. During Ihe year the trustees worked within the charity and received remuneration as follows.. C Tiley Iruslee and director £28,429 12023.. £26.772), K Blincowe trustee and direclor £26.998 (2023.. £25,345) and H Reid trustee £32,937 (2023 £30.911 > Employees The average monthly number of employees during the yearwas.. 2024 Number 2023 Number 15 16 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 306,171 18,115 7,329 299,321 17,476 7,044 331,615 323,841 There were no employees whose annual remuneration was more than £60,000. Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 12-
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Tangible fixed assets Leasehold Flxtures and land and fSttlngs bulldlngs Computeys Total Cost At 1 January 2024 71,595 22,517 5,077 99,189 At 31 December 2024 71,595 22,517 5,077 99,189 Depreciation and impairnient At 1 January 2024 Deprecialion charged in the year 54,400 2,864 21,989 106 4,375 232 80,764 3,202 At 31 December 2024 57,264 22,095 4,607 83,966 Carrying amount At 31 December 2024 14,331 422 470 15,223 At 31 December 2023 17,195 528 703 18,426 11 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 1,797 2.055 1,123 4,423 3.852 5,546 12 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 4.052 493 60 3,432 3,103 501 60 3,206 8,037 6,870 13 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profit or loss in respect of defined conthbution schemes 7,329 7,044 13-
SQUIRRELS DAY NURSERY (CORBY) LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Retirement benefit schemes (Continued) The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separatety from those of the charity in an independentty administered fund. 14 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances ofdonations and grants which are not subjecl to specific condilions by donors and grantors as lo how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incorning resources Resources expended At31 December 2024 General funds 25.997 379,101 {391.1621 13,936 Previous year: At 1 January 2023 Incoming resources Resources expended At31 December 2023 General funds 43.212 370,784 {387,9991 25,997 15 Related party transactions There were no disclosable related party transactions during the year (2023 - none)- 14-
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