Registered number: 06283794 Cliarity number: 1121441 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 HARVEY ROAD DAY NURSERY LIMITED (A Company Liinited bs, Guarantee) CONTENTS Page Reference and Administrative Details of the Charity, Its TTUStees and Advisers Truslccs, Report Independent E￿qmIner'S Report 9-10 Ststeinenl of Financial Acivities Balancc Slieet 12 Notes to the Financial Statements 13-26 HARVEY ROAD DAY NURSERY LIMITED (A Colnpany Limited by Guarantee) REFERENCE AND ADfvffNISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2024 Trustees J Gibson R Orcn L Paiasic Company reLllStered number 06283794 Charity registei.ed number 1121441 Registered office 9 - 10 Harvey Road Canibridge CBI 2ET Accountants Pliilip Evans FCCA Morgan Barrell Accountancy 20 Cliurch Strecl Liiile Shelford Cambridge CB22 5HG Banliers CAF Bank 25 Kings Hill Avenue Kings Hill West Malliiig Kent ME19 4JQ Canibridgc Building Society 51 Newinarket Road Canibridge CB5 8FF Scottish Widows Bank PO Box 883 Leeds LSI 9TY Nursery Manager S Baldry Deputy Managei" M Griffin M Guy Page I HARVEY ROAD DAY NURSERY LIMITED (A Company Lllniled by Guarantee) TRUSTEES, RE,PORT FOR I'HE YEAR ENDED 30 SLP'fE.MBER 2024 The Trustces present their annual report together with the fmanciul statements ol the Charity for the l Octobcr 2022 to 30 September 2023. The Annual Report serves the purtx)se8 of both a Trnstees, report and a directors, report under company law. The Trustecs Gonfinn that the Annual Rcport and finanoial statements or th charitable company comply with the current statutory requirements, thc rcquirements of the charitable compaiiy's governing document and the PTovisions of the Stsiement of Ilecommendcd Practice (SORP) applicable to charities preparing Iheir accounts in accordance with the b-inanLiql Reporting Standard appliGablc in the LFK and Republic of Ireland (FRS102) (cffective l January 2019). Since the Charity qualifies as small under secLÉon 3 82 of the Compc2nies ACL 2006, the Strategic Report requxrcd of medium and Earge companies under die Coinpailles Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. OBJECTIVES AWD ACTIVITIES Policies and objectives The Nursery has 6 main objectives lo ils operation.. . Our main objcctive is to provide the children in our care with a happy. safe and stimulatÈn8 environment in which lo grow and learn. Einsure the nursery is staffed with appropriately qualifiel motivated and Lxperieiiced staff to deliver tlie Early Years b oundation Stsgc requirements requircd by the iiursery,. Ensure the nursery mects all le8al reqLiireniLnls. the Farly YLdrs Foundation standards, the Quality F'ramework requirements and achieves as higli a level rating il can under the Ob'SI'ED regulatory body. Ensure the nursery is always at maximiim capacily ￿ld attempl l() avoid non usage ofplaces. Support t'amilies using the nursery service. Continue to iniprove infonnation access for parents and carers. In ordcr to ciisiire diat everything we undertakc is in line with rccogniscd equality OF opportunity quality standards and to provide for die welfare of all our service users, members dnd participants, all of our work will be infornied through our policies and statements which have been developed in line with legal requirements: . Safeguardin8 Children and Child Protection . Whistle Blowin8 • Health and Safety . Managing Illness and Administering Medicines . Confidentiality and Client Access to Records . Privacy Polioy . Complaints and Compliments Food, Nutrition aiid Celebrations Policy Parents Giiide to the E4arly Ycars Foundation Stage F4ramework . Employee Learning and Development Page 2 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEFS, REPORT (Continucd) FOR TI.IC YEAR ENDED 30 SEPTEMBER 2024 oRrECTIVES AND ACTIVITIES (CONTllYUED) . Safer Reoruitment Student Policy • INappy Changing and tntimate Care Policy . Biting Use ot, Mobile Pliones, Camcras and Technolo8ioal Devices InclLision aiid Equalily . Fire Safety . Lock Down Policir . CCTV Policv . Adverse Weather Sun Care Policv . Parent/Carer Involvement Policv • Achieving Positive Behaviour & Well Bein8 . Monitoring stsff Behaviour Supporting Children with Special Needs Conflict Resolutioii Emotional I-lealtli and Wellbeing Covid-19 Coiitlll8ency Plan An up to date Policy and Procedurcs book is in eacli room, otTice and staff room. New parents are also directed to the website wliich is regularly updatcd. In setting objeclives and planning for activities, the Trustees havc given due consideration to general guidaiice published by the Charity Commission relating to public benefit. including the guidance 'Public benefit: rLinnllig a charity (PB2)'. b. Activities undertaken to achicvc objeetlves The Nursery is inspected by OFSTED and will ai]n to respond appropriately and within reasonable timeframes to any issues raised. Staff and TTUStees as well as parents are involved with this procesq and feedback is made availablL to cacli representative party. The nursery was not inspected by OFSTED this year. The Nursery activcly sceks feedback from parents and stakeholders. Regular meetings are held with the Hundred I-Ioiises Socicty the owner and maiiager of the Nursery buildin8. Parents are kept infonned of nursery activities and tlieir child's development specifically via eniail or Tapesty, the nurscry's 0]￿Ine portal for parents and statT to share inforn￿ti0n. The Nursery Manager operates a conlinual process of place management and monitors our waiting list for places. She alerts the Board of Management to any unfilled nursery places and advises what is being done to reach maximum capacitv. Page 3 HARVEY ROAD DAY NURSERY LIMITED (A Company Limiled by Guarantee) TRUSTE,ES' REPORI" (Continued) FOR THE YEAR ENDED 30 SEPTEMBER 2024 ACHIKVEmEI￿ S AIYD PERFORMANCE Reviejv ot. Activities: The children enjoyed various celebrations throughout the year, including a Christmas sing alon8 and a visit froin Father Chrislmas. The also enjoyed trips to the Police Stsiion and to nearby Parkcr's Piece. We had photO8raphers in Iwice during the year, one to tske more formal photos indoors in thc aulumn and another to take natural photographs of tlie clu. Idren in the garden in the Spring. Coach Salv came once a forthight throughout the year to do sports with the children and Coach Lucy came to do dance. The children also experienced caterpillars turn into cocoons and then butterflies. Statf continiie to atteiid various training both face lo face and online over the year to enhaiice their personal development. StatT also completed two in housc Lraining days. In February the staff all went to the Theatre to see Marna Mia a great day out was Iiad by all, b. Staffing We are at full capacity in tenns of the number of children we Gan tske, with the limitin8 factor being the recruitment of qualificd staff. This is a problem across the sector and particularly bad in Cambridge. One of the ways we have dealt with this challenge is by partncrin8 with Cambridge Regional College lo bring trainees who work towards tlieir certification while they are with us. WL have recruited tlie following staff this yeai.: Halcy (Early Years Assistant) iii March, Paul (Chcfj in June, Maja (Apprentice chco in Scplember and C'hloc (Apprenlice) in Septcmbcr. Two apprentices completed their training but botli decided not to continue in cliild care. We did however successfullv reoruil another apprentice. Wc continue to take CRC students and Anglia Ruskin students on work placement schemes. We also continue to support the local colle8es by offering work experience placements throughout the .year. Page 4 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTF.ES' REPORT (Conlinued) FOR THE YEAR ENDED 30 SEPTEMBER 2024 IE c. Parent PartlL'ipation We held our 3rd annual summer social event in the nurseT! garden in the surnmer. Everyone had a lot of with the majority of parents and staff joining us. The nursery organised two Bags 2 School fundraising events which proved to work well. We hope to continue willi this. The Pre-school leavers provided breakfast for the slatT as a thank you gift to everyone. The Board of Directors continues to be run by parcnls. There are Ou￿entlY thrLL Directors and we are in the process of recruilin8 more. FINANCIAL REVIEW Going Concern The Nurserv continues to monitor it.8 outgoings very closely. especially food costs thal are kLpt as low as possible by frequently shopping around. Encrgy costs remain high and we ure limited iii OL￿ abilily to sLarch for cheapcr electricity and gas by the terms of oiir lease. 14ousing Association - shared infornialion from housing still continucs to be an issue. re8ular meetings arc held with the Housing Officers to address any problems. For this reason, they continue to adopt the going concern basis in preparin8 the fmancial Ststements. Furthor details regarding the adoption of the going conccrn basis can bc lound in the accounting policies. b. Reserves polle.Tr' In case of unexpected events, such as increcises in costs or loss of income streams, we are aiming to retsin fTee reserves equivalLnt to 4-5 months, turnover (£140,000 to £180,000). As at 3 0 September 2024, reservcs wcrc £158,801, which is within the larget range. We continue to hold our reserves in cash, splil between our accoLints. Page i HARVEY ROAD DAY NURSERY LIMITED (A Company Liinited by Guarantce) TRUSTEES, REPORT (Continued) FOR THE YEAR ESDED 30 SEPTEM]3ER 2024 FinanLial position and performance The Statement of Financial Activities covers the period l October 2023 to 30 September 2024. The detailed results of the period's operations are set out in the atlached financial ststements, Income for the year was £446,197 which comprised £43 8,775 (2023: £423.3 91) from parents, fees and grant income, £3.778(2023: £1,137) from bank lllteresl, £3,643 (2023: £1,962) from donalions and 8rants. Expenditure amounted to £450,555 (2023.. £417,807), of which £405,243 (2023: £3 84.224) related to direct Losts and £45,312 (2023.. £3 3.583) rclated to Slipport uiid governancc Costs. Tliere was a net ouinow of funds for the period of £4,813 (2023. inflow £8,933). The retained reserves at 30 September 2024 amounled to £167,248 (2023. £173,896). Nurser! Fees continue to be the main source of inconie. Areas of expenditure have alreadv bcen mentioned in the Review of Activities seclion as we conlinue to maintain and develop the nursery facilities. The Nursery receives the use of premises. which are leased from a social housing provider in Cambridge. As a social housing provider, the landlord does nol lel out properties at a market renl and therefore due to the natLire of the property the landlord is nol able to detennine a market rent. No in-kind donalion for rent has therefore been included in these financial statements, STRUCTURE, GOVERNANCE AND MANAGEMENT Constltution Harvey Road Day Nursery Limited is rcgislcred as a cliarilable company limited by guaranlee (re8lStered number 06283794) and was set up by a Memoraiidum of Associalion on 18 June 2007. li is a registered charity, number 1121441. The principal object of the charity is to establisli ￿ld cary on a nursery school ( the Nursery") for the inhabitants of Cambridgeshire and the neighbouring counties where ckn'l(Iren may be educated and to use the Nurscry as a ohildcare centre for the ijthabitants of Cambridgcshiie and the neighbouring counlies where children may be cared for. b. Methods of appointment or election of Trustees The management of the Charity is the responsibility of the Truslees who arc appointed by the mcmbers by ordinary resoliilion. I'he Trustees miist stand down after tlie first year of operation and will then otyer themselves for re-election at thc f￿st annual general meeting. Trustees will then retire in rolation and may be re-elected at subsequent annual geneTal mcetings. Page 6 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) TRUSTEES, REPORT (Continued) FOR TFIE YEAR ENDED 30 SEPTEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENf (COIYTINUED) The Trustees themselves may also appoint a person who is willin8 to act as a Trustee. A Trustee so appointed must retire at the next annual general meeting and must not be taken into account in detennining the Trustees who are to retire bv rotation. c. Organisational structure and decision-making pollcie The Trustees of the Charity. operating as a ]3oard of Managemenl. deterniine strategic priorities and oversee tlic t-mancial management of the Cliarity. Thc day to day running of the Nursery is delegyated by the Board of Management to tlie Nursery Managcr and her deputies and statT. The Board of Management meets every two months to review the perfornianee of the Nurserir and consider issues wlll'ch arise wlllch affecl the running of the Nursery. d. Trustccs The Trustees who served during the year were., J Gibson R Oren L Patasic Flnancial risk management The TrLiStees have assessed the major risks to which the charily is exposed, in particular Ihose related to th¢ operations and fmaiices of the charity, and are satisfied thal systems and procedures are in place to miLigale our exposure to tlic major risks. PLANS FOR THE FufuRE Wc are updatiiig fans in all areas of thc nursery to iinprove air quality in the buildiiig for the benefit of the childrL'n and slaff. We are also undertaking improvemcnts to the Koala room bathroom and steadily increasing stalfmg levels and child numbers. Fulure proofmg our nursery through our already successft]l apprenticeship schcme with Cambridge Re￿Onal College. Page 7 HARVEY ROAD DAY NURSERY LIMITED (A Company Limiled by Guarantee) TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED 30 SEPTEMBER 2024 .%TATEMENI' or TRIJSTEES, Rf, SPONSIBILITIES The Truslccs (who are also the directors of the Charity for the purposes of conipany law) are responsible for preparing the Trustees, Report and the financial staiements in accordance with applicablc law and United Kmgdom Accounting Standards (United Kmgdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must nol approve the financial statements unless they are satisfied tliat tliey 8ive a true and fair view of the state of aIfairs of the Charity and of its incoming resources and application of resources, including its mcome and expendilure, for that period. In preparing these fmancial statements, the I'rustees are required to.. select suitsble accounting policie*> and then apply them consistentlv. observe the methods and principles of the Charities SORP (FRS 102). maLc jlidgments and accounting estimates thal are reasonable and prudent. state wlictlicr applicable UK Accounting Standards (FRS 102) have been followed, subjccl to any material departures disclosed and Lxplained in the financial statements.. preparc the flliaiicial statements on the goin8 concern basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain thc Charily's transactions and disclose with rcas'onable accuraGy at any time tlie financial posilion of the Clwrity and enable them to LnsurL. that the financial slatements comply with the Compaiiies Act 2006. They arL also respon8ible for safeguarding the assels of the Cliarity and hence for taking reasonable steps for the prevention and dctection of fraud and other irregularities. Approved by order of the members of the board of Truslees and signed on their behalf bs,: J Gibson Trustee Date: 61612025 Page 8 HARVEY ROAD DAY NURSERY LIMITED (A Company Limiled by Guarantee) INDEPENDEIYT EXAMINER'S REPORT FOR TItE YEAR E]NDED 30 SEPETrtBER 2024 INDEPEI¥DENT EXAMINER'S REPORT TO THE TRUSTEES OF HARVEY ROAD DAY IYURSERY LIMITED (Ithe Charity,) I report to the charity Truslees on my exainination of thc accounls of the Ch<2rily for the year ended 30 Seplember 2023. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Acl,). Having satisfied myself that the accounts of the Charity are not required to be audited undcr l)art 16 of the 2006 Act and are eligible for independenl cxaminatioii, I report in respect of my cxamination of the Charity's aCcol￿tS carried out under section 145 of the Charities Acl 2011 ('the 201 l Act,). In Carrying oul mv examination I have rollowed the Directions given by the Charily Commission under section 145(5)(b) of the 201 l Act. INDEPENDENT EXAMINERIS STATEMENT Since thc Charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of tlic 201 l Act. I confinn th&t I am qualified Lo undertake the examination because I am a member ol: Institute of Chartered Accountants in Englaiid and Wales, which is one of tlie listed bodies. I have completed my ex'amination. I Co￿1n￿ that no matters have come to my attention in connection with the examination giving me cause lo believe.. . accounting records were not kept in respect of the Charily as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. thc accounts do not comply with the accounting requirements of section 396 of the 2006 Acl other than any requirement thal the accounts give a 'trne and fair, view which is not a malLer considered as part of an independent examination. or 4. the accounts have not been prepared in accordanoe with thc mcthods and principles of tlie Slalement of Recommended Praclice for accounting and reporLiiigT by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)] I haiie no concenis 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 accounts to be reached. This report is made solely to the Charity's Truslees, as Li bod.y, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My Work has been undertakcn so that I might stale to the Charity's Page 9 HARVEY ROAD DAY NURSERY LIMITED (A Company Linuted by Guarantee) INDEPEM)ENf EXAMINER'S REPORT FOR THE YEAR ENDED 30 SEPEMBER 2()24 Trustees those matters I am required to stale to them in an Independent Examiner's Report and for no other pu￿OSc. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other thali die Charity and the Charity's Trustees as a body. for my work or for this report. Signed.. Dated: Philip Evans FCCA Page 10 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME IIND EXPENDITURE ACCOUNT) FOR THE YEAR EIYDED 30 SEPTEMBER 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Note INCOME FROM: Donations Charitable activities Iiivestinents Otlier Incoine 3,212 391,017 3,778 24 431 47,735 3,643 438,751 3,778 24 1,962 423,391 1,137 250 TOTAL INCOME 398,031 48,166 446,197 426,740 EXPENDITURE ON: Charitable activities 405,739 47,719 453,459 417,807 TOTAL EXPENDITURE 405,739 47,719 453,459 417.807 NET MOVEMENT IN FUNDS (7,708) 447 (7,262) RECONCILIATION OF FUNDS: Total fLinds brouglit forward Net inovemeiit iii funds 171,369 (7,708) 2,527 447 173,896 (7,262) 164,963 8,933 TOTAL FUNDS CARIUED FOI 163,661 2,974 166,634 173,896 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages I I to 24 form part of these fiiiancial statements. Pagell HARVEY ROAD DAY NURSERY LIMITED (A Compaiiy Liinited by Guarantee) BALANCE SHEET AS AT 30 SEPTEMBER 2024 2024 2023 FIXED ASSETS Taiigible assets 12 10,283 12,568 12.568 CURRENT ASSETS Debtors Cash at bank and iii haiid 13 3,211 203,436 5,449 227,595 206,647 233,044 Creditors: amounts falliiig due within one year NET CURRENT ASSETS 14 (50,296) (71,716) 156,351 161,328 TOTAL NET ASSETS 166.634 173,896 CHARITY FUNDS Restricted funds Unrestricted funds 15 2.974 163,661 2.527 171,369 15 TOTAL FUNDS 166,634 173.896 The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006. The members liave Iiot required tlie company to obtain an audit for the year in question in accordance with sectioii 476 of Compaiiies Acl 2006. Tlie Trustees acknowledge t11eir responsibilities for complying with the requirements of the Act with respect to accounting records aiid preparation of financial stateinents. The financial statements have been prepared iii accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: 61612025 ibson - Trustee Date Page 12 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 GENERAL INFORMATION The Charity is a cornpany limited by gll￿"antee. The members of the Cliarity are the Trustces named on page l. In the evenl of the Charily being wound up. the liability in respcct of the guarantee is limilLd lo £ l O per member of the Charity. The fL]nctional and prcsenlational currency is GBP. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The tinancial staiements have been pl'epared in accordance with the ch￿itIeS SORP (FRS 102) - Accounting and Repoiting by C'liai'ities: Statement of Recommended Practice applicable to charities prep￿ing dieir accounts in dCCOI"dance Nviih the Financial Reporting Standard applicable in the UK and Republic of Ireland ￿Rs 102) (effG'ctive l January 2019). thc [in￿]Cial Reporting Standard applicable in the UK and Republic of Irel£ffid (fRS 102) and the Companies Act 2006. 14arvey Road Day Nursery LimilLd meets thc dcfmition of a public bencfit entity under FRS 102. Assets t￿d liabilities are initially recogiised at historical cost or transaction value unlcss otherwise slated in the rclevant accounting policy. There were no significant estimates or judgements made by rnanagcment in preparing these fmancial statements. 2.2 GOING COIYCERN After making appropriate enquii'ies, the Tiustees have a reasonable cxpectation that the Charity ha8 adequate resources to conlinue in operational existence for the foreseeable fulure. We continue to have a filll waitingy list and places are full at all times. The nursery continues to monitor its outgoings very closely, especially food costs that are kept as low as possible by frequently shopping around. For this reason, they continue to adopt the going concern basis in preparing the financial statements. There are no material uncertainties in relation to going concern. Page 13 HARVEY ROAD DAY NURSERY LIMITED (A con7p￿]Y Limited by Guarantee) NOTES TO THE FDIANCIAL STATEMENTS FOR THE YEAR EI¥DED 30 SEPTEMBER 2024 ACCOUNTING POLICIES (coiYfINUED) 2.3 llYCOME All income is reCO￿lSed once thc Charity has entitlement to the income, it is pi"obable that the income will be reccived and the amount ol income receivable can be measured reliably. Grants are includcd in the Statement of14 in￿1ClaI Activities on a receivable basis. The balance 0£ income received for specific purposes but not expended during the period is shomn in the relevant fLmds on the Balance Sheet. Wha"e income is received in advance of entitlement of receipt, its reCog￿tIon is defe￿ed and included in ci'editors as deferred income. Where entiilement occurs bcfore income is received. the income is aCc￿ed. Oil i'eceipt, donated professional sL'rvices and facilities are reco8Tllsed on the basis of the value of Ihc 8ift to the C'haiity which is tlie amouiit it would have been willing lo pay to obtain services or facilities of Cquivalenl ccoiiomiL' benefit on Ihe open market. a corresponding amount is then recognised in expendilure in the pcriod of rcccipt. Other income is recognised in die period in which it is receivable and lo the extent the goods h￿vC been provided or on completion of Ihe service. Interesl on funds held on deposit is included when receivable and the amount can be n]easured reliably by the Charity; this is normally upon notification of the interest paid or payable by the inslitiitioii with whom the funds are deposited. Parent t'ees are recognised in die period to which they relate. witli any fees received in adVE￿ce being defcrred. Donalions are recognised in thc period in wliich they are received. 2.4 EXPENDITURE Expenditure is recognised once there is a legal or constructive obligatson to transfer economic benefit to a th￿d paty. it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expendilure is classified by activity. Tlie costs of cach activity are rnade up of the total of direLI Losts and shared costs, including support costli involved in undertaking each activity ExpendIt￿'e on charitable activities is incurred on dircctly undertaking tlie activities which fjjrther the Chèu'ity's objectives, as well as any associaled support costs. P¢ige 14 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.4 EXPENDITURE (CONTINUED) Support costs including governance costs are those costs incurred dii'ectly in support of expcnth'lurc. on the objects of the Charity and iiicludc ovL'rheads incU￿¢d in the numing of the Nursery. Governance costs are those incurred in connection with adn]inisti"ation of the Charily and compliance witli constitutional and statutory i'equircmenls. All eN)enditure is inclusive of iiTecoverable VA T. 2.5 GOVERNMENT GRANTS Government grants other than for tangible fixed assets are credited to the Statement of Financial Activities as the related expenditure is incurred. 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATIO 'raiigible fixed assets costing £ 1,000 oi" Inorc are capilalised and recognised wlien future economic beiiefits are probable £md the cost or value of tlie asset can be measured reliably. TElligyible fixed assets are initially recognised at cost. After recowtion, under the cost model, tan￿ble fixed assets are measured at cost less accumulated depreciation and any accumulated impairn]ent losscs. All costs incurred to bring a tan￿b]e fixed asset into its intended Nvorking conditson should be included in the measurement of cost. D¢pre¢ialion is Charged so as to allocale the cost ot tangible fixed assets less their residual valuL over tlieir estimated use￿1 live8, using the straight-line method. Depreciation is provided on the following bases.. Propety improvements - l 0 % - 33.33 % straight line Office equipment - 200/c straight line 2.7 DEBTORS Trude and other debtors are recognised ut Uie seiilemenl Eunount after any trade discount offL'rLd. Prepayments are valued at the amount prepaid iiet of any trade discounts due. Page 15 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR EM)ED 30 SEPTEMBER 2024 2.8 CASH AT BAJNK AND ll¥ HAND Cash at bank and in hand includes cash and short-tenn highly liquid inveslments with a short Mat￿lty of three months or less from the date of acquisitiorj or opening of the deposit or similar accounl. 2.9 LIABILITIES AND PROVISIONS Liabilities are recognised wlien tlierc is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount ol. the settlement can bc cstimated i"eliably. Liabilitics are reCO￿lSed at the Eunc)unl that tlie Charily anticipates it will pay to settle the dLbt or the amount it lias reccived as advankned pa￿llentS for the goods or services il musl provide. 2.10 FINANCIAL INSTRUMENTS The Charity only has financial assels and financial liabilities of a kind that qualify as basic finELnci&l instruments. Basic financial instruments are initially recognised at trÉll]saclion value and subsequeiitly measured at their seltlement value with the LxLLplion of bank loans wlllch are subsequentls, mLusured at amortised cost using the Lifective interest method. 2.1 I OPERATING LEASES Renlals paid undei" operating leuscs ￿'c charged to the Statemenl of financial Activities on a straight-line basis over the lease tenn 2.12 PENSIONS Thc Charity operates a defmed contribution pension scheme and the pension charge represents the amounts payable by tbe Charity to the fund in respect of the year. Page 16 HARVEY ROAD DAY NURSERY LIMITED (A Company Limilcd by Guarantee) NOTES TO THE FINANCIAL STATEMEThTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.13 FUND ACCOUNTING Geiieral fLll]ds are unrestrictcd ft￿dS which are available for use at the discretion of the Trustees iii i"tlicrance of the &Teneral objeLLives ot tlie Charity and which have not been designated for other pwyoses. Restricted funds are funds Nvliich ￿"C to be used in accordance willi specific restrictions imposed by donoi's or which bave been raised bv the Charily for particular purposes. The costs of raising and administering such funds are charged against the SpeC￿C fund. The aim and use of each restricted fi]nd is set out in the notes to the fmancial statements. ivestment income, gains and losses are allocaled to the appropriate fund. JI¥COME FROM DONATIONS Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Donation8 Granty 431 431 3,212 462 1,500 3,212 3,212 431 3.643 1.962 Total 2023 301 1661 1962 The nursery operates from premises in Cambridge, leased from a social housing provider with peppercorn rent. As a social housin& pi'ovider. tlie landlord does nol lel out properties at a markci rent and therefore due lo the nature of Ihe property the landlord is noL able to detcnnine a markct roit, No lljkind doiiation for rent has th￿'efore been llicluded in these financial staLenients. Page 17 HARVEY ROAD DAY NURSERY LIMtTED (A Comp￿( iy Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31) SEPTEMBER 2024 DICOME FROM CHAR￿ABLE ACTIVITIES Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total fimds EduL'ation & milk grant 47.735 47,735 28,654 Parents fee8 391.017 391,017 394,737 391.017 47,735 4J8,751 423,391 Total 2023 394,737 28,654 423,391 INCOME FROM ThVESTMENTS UnrestriL*ed fund 2(124 Total funds 2024 Total 2023 Bank Interest 3.778 3,778 Total 2023 1.137 OTHER INCOME Unrestricted funds 2024 Total fund8 2024 Total fimds 2023 Fundraising income 24 24 Photography Commis8lon 250 24 24 250 Total 2023 250 250 Page 18 HARVEY ROAD DAY NURSERY LIMITED (A Coinpaiiy Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMKNrs FOR THE YEAR Er￿ED 30 SEPTEMBER 2024 ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES Summary by fund type Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Total funds 2023 Nursery school education 405,739 47.719 453,459 417,807 TOTAL 2023 387,492 417,807 ANALYSIS OF EXPENDITURE BY ACTTVITIES Activitie8 undertalccn dirL'L'tIy 2024 Support L'osts Total funds 2024 Total fLllids 2023 2024 Nursery school education 413,780 39,679 453.459 417,807 TOTAL 2023 384.224 33,583 417.807 Page 19 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMEI¥TS FOR THE YEAR EM)ED 30 SEvfEMBER 2024 ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED) ANALYSIS OF DIRECT COSTS Nursery sehool education 2024 Total funds 2024 Total funds 2023 Staff costs Depreciation Equipment Staff training and welfare Cleaning Premiscs costs riood and chef costs Bank. charges Advertising and rLcruitment costs Stationcry Subscriptions 339,179 2,744 3.247 1.255 29,139 21,188 10,569 826 339,179 2.744 3,247 1,255 29,139 21,188 10,569 826 297,573 3,527 2.400 68 20,476 44,794 12,586 259 165 5.467 165 5.467 256 2.285 413,780 413,780 384,224 ANALYSIS OF SUPPORT COSTS Iyursery school eduL'ation 2024 Total funds 2024 Total funds 2023 StdlT costs Teleplione and internet Computcr costs Staff tramllig and welfare Payroll costs Accountancy fees 32,053 825 1,325 360 2,129 2,988 32,053 825 1.325 360 2,129 2,988 21,352 1,457 888 1,792 2,041 6.053 39,679 39,679 33,583 TOTAL 2023 33,583 33,583 Page 20 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 IINDEPENDENT EXAMINER'S REMUNERATION 2024 2023 4 ees payable to the Charity's independLnl examiner for the indepeiideiit examination of the Charity's annual accounts 1440 3,308 Fees payable to lh¢ Charity's indep¢ndent examiner in respect of.. Accountancy services 1,440 2,200 2,880 5,508 10. STAFF COSTS 2024 2023 Wages and salaries Social security costs Contribution to defmcd contribution pension schemes 312,597 15,743 3,246 300,910 14,884 3,131 331,587 318.925 The average nuinber of person8 employcd by the Charily during tlie year was as follows: 2024 2023 Nursery staff Administralion 21 22 22 23 No employee received remuneration amounting to more than £60,000 in either y&qr. The key management personncl of Ihe charity comprise the Trustees and the Manager and two Deputy Managers. lThe Trustees all give their time and expertise without any kind of remuneration or other beiiefit in kind (2023: £Nil). Thc total employment benefits of key maiiagcment personnel incliiding pension contributions and cmployers, national insurance was £110,410 (2023: £106.914). Page 21 HARVEY ROAD DAY NURSERY LIMITED (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 TRUSTEESI REMUNERATION AND EXPENSES During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). During the year ended 30 Septsmber 2024, no TTh￿tee expenses have been incurred (2023 - £NIL). 12. TANGIBLE FIXED ASSETS Total COST Al l Oolobcr 2023 75,410 At 30 SLptember 2024 75,410 DEPRECIATION At l Oclobcr 2023 Charge for the year 62,842 2,285 AI 30 September 2024 65.127 NET BOOK VALUE At 30 Scptember 2024 10,283 At 30 September 2023 12.568 13. DEBTORS 2024 2023 'I"rade debtors Othcr dcbiors Prepaynients and accrued income 177 2.267 767 177 2,266 3,006 3,211 5,449 Page 22 HARVEY ROAD DAY NURSERY LIMITED (A Company Liiniled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 14. 11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Payments received on acLount Trade creditors Other taxation and social security Other creditors (including £20,000 deposits held) Accruals and deferred income 117 7,919 5,722 20,000 13,128 591 11,504 5,491 33,241 20,889 71,716 Deferred iiicoine at l Oclobcr 2023 Resources deferred during tlie ycar nounts released from previous periods 8,438 3,188 8,438 (3,188) (5,028) 3,410 8,438 Resources deferred durAng the year relale to education grant income. Page 23 HARVEY ROAD DAY NURSERY LIMITED (A Company Lllnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YKAR KNDKD 30 SEPTEMBER 2024 15. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at 01-Oct 2023 Balance at 30-Sep 21)24 Income Exyenditure UNRESTRICTED FUNDS GL'neral Funds 171,369 398,031 (405,739) 163,661 RESTRICTED FUNDS Milk Fund Educatioii Grant Fund Don(itions Fund 1,234 46.501 431 (1,234) (46,486) 15 2,958 2,527 2,527 48,166 (47.719) 2,974 TOTAL OF FUNDS 173.896 446,197 (453,459) 166,634 Page 24 HARVEY ROAD DAY NURSERY LIMITED (A Company Limiled by Guarantee) NOTES TO THE F1Tr4ANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 15. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR Balance at 01-Oct 2022 Balance at 30-Sep 2023 Income Expenditure UNRESTRICTED FUNDS General Funds 162,436 396,425 (387,492) 171,369 RESTRICTED FUNDS Milk Fund Educalion Grant Fund Donalions Fund Staff events Canibridge Regional College 1,636 27,018 (1,636) 27,018 2.527 161 1,500 (161) (1,500) 2.527 2.527 30.315 23,721 2.527 TOTAL OF FUNDS 164,963 426,740 (363,771) 173.896 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUPIDS - CURRENT YEAR Unrestricted funds 2024 Restricted funds 2024 Total funds 2024 Tangible fixed asse(s Current assets Creditors due witl]in one year 10,283 206.647 (50,296) 10,283 209,620 (50,296) 2,974 TOTAL 166,634 2.974 169,608 Page 25 HARVEY ROAD DAY NURSERY LIMITED (A Company Limiled by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 16. ANALYSIS OF NET ASSETS BETWEKN FUNDS (CONTINUED) ANALYSIS OF NET ASSETS BKTWEEN FUNDS - PRIOR YEAR Unrestricted funds 2023 Restricted Total funds 2023 2023 Tangible fixed assets Current assets Creditors due within one Year 12,568 230.517 (71,716) 12,568 233,044 (71,716) 2,527 TOTAL 171.369 2,527 173,89C) 17. PENSION COMMITMENTS Tlie nursery operates a defined contribulion pension scheme. The assets of tlic sclieine are lield separately from tliose of tlie nurscry in an independently athninistered fund. Tlie pension cost charge represents contributions payable by tlie nursery to the fund and amounled lo £3,246 (2023: 3,131). At the balance sheel date there were prepaid contributions of £2,266 (2023: £2.266). 18. OPKRATING LEASE COMMITMENTS AI 30 Septembcr 2024 Ilie Cliarily licld coinmitnicnts to make future minimum lease paymenls undcr non-cancell(ible oper