ANNUAL REPORT 2024-25 High Quality Early Education & Childcare for Each Individual Child . XKA www.watotopreschool.org.uk Table of Content // I 03 Introduction 04 Chairpersons Statement 05 Pre-school Overview 06 Operational Report 09 Key Achievements 24- 25 11 Future Goals & Strategy 12 Thank You www.watotopreschool.org.uk Ir Introduction At Watoto Preschool the 2024-25 financial year has been marked by significant growth and meaningful transformation. Remaining true to our vision tp provide 'High Quality Early Education & Childcare for each Individual Child,, we have dedicated ourselves to building on our vibrant, inclusive, and stimulating environment that empowers every child to flourish. This annual report highlights our achievements, challenges, milestones, and future ambitions, offering a comprehensive review of our journey and progress over the past year. Major milestones achieved 01 Record Revenue Growth 02 Reimagining Our Preschool We delivered an impressive 23% revenue uplift this year, driven by disciplined budget management and streamlined procedures." We transformed how we utilise our preschool building, adding new space and expanding childcare opportunities." www.watotopreschool.org.uk Chairpersons statement As the end of another year approaches, we take this opportunity to reflect on our time spent with a wonderfully diverse group of children. We extend a fond farewell to those who are moving on to Turther educational adventures. The positive feedback we receive from families and the broader community is truly valued, and we deeply appreciate their unwavering support. Our commitment remains steadfast: we strive to collaborate closely with parents and carers, ensuring they are actively involved partners in their children's learning and development. This year, like many in our community, we have encountered several challenges. In response, we have implemented a variety of initiatives, including expanding access to early learning opportunities, strengthening the early childhood workforce, and providing comprehensive support services for families. These collaborative efforts have contributed to steady improvements in early childhood development outcomes acros the preschool. -//1 The year has also brought about transformational changes, ranging from reimagining the use of our indoor and outdoor spaces to formulating plans for a refreshed leadership structure. Among the most significant developments has been the creation of our new outdoor classroom and the complete refurbishment of our play and garden areas. These projects were made possible by the generosity and dedication of our donors, board of directors, exceptional staff team, and the wider community. We are pleased to welcome new families into our preschool, while continuing to maintain strong, meaningful connections with those who - return year after year. The Family Engagement Events have been particular highlights, with parents actively participating in storytellin" crafts, and music alongside their children. Finally, heartfelt gratitude is extended to every member of staff for theii unwavering dedication throughout what has been a challenging year, i..kn. especially those who have remained committed during the various changes. Sincere thanks are also due to our Committee members, whose ongoing support and dedication have been invaluable to Watoto Preschool in countless ways. www.watotopreschool.org.uk Pre-school Overview Our Story Founded by parent, Watoto Preschool, prioritises strong relationships with families and aims to provide high-quality education for each child. We offer 56 full- time early education and childcare places for children aged 6 months to 5 years, open Monday to Friday from 8am to 6pm. As a registered charity overseen by a Board of Trustees, we focus on delivering excellent care and learning in a safe, stimulating environment. Established in 2008, the preschool is housed in a purpose-built building with outstanding outdoor spaces. Our most recent Ofsted inspection in December 2022 rated us as GOOD. Learn more at www.watotopreschool.org.uk. Our Vision High Quality Early Education & Childcare for each Individual Child Our Promise to Parent Carers To provide a welcoming, homely, caring and personalised service. To continue to deliver the Early Years Foundation Stage curriculum that effectively supports children's learning and development. To welcome and respect different cultures and languages, and to embrace the positive contributions diversity makes to the development of each child. To deliver a quality service that exceeds Ofsted standards. To provide a professional sep4ice that is inclusive, affordable and accessible to all. To ensure your child has lots of fun. To provide a safe and secure environment www.watotopreschool.org.uk Operational Report 01. KPI Dashboard 02.Children's Outcomes & Impact Our classes stayed full, both for funded and paid places. We kept checking that all funded hours were correct using our regular systems. Children who needed extra help were supported with clear plans, and families were happy with how things were going-most new sign-ups came from personal recommendations. We also kept a close eye on apprentice attendance and sorted out any issues We checked on each child's progress every term, looking at things like talking, understanding, moving, reading, math, learning about the world, and being creative. Children who needed extra support had individual plans, and we tried out different activities to help them, like curiosity programs and special communication sessions. 03. Examples of Individual Support Plans Some examples of these plans included goals for things like paying attention, making eye contact, socialising, and using words. Staff worked with kids during sessions and checked in on progress each term. www.watotopreschool.org.uk Key Achievements 24- 25 Successful fundraising- renovate the outdoor play garden area The board successfully secured £50,000 in government funding to expand childcare and transform the garden and outdoor play areas. By renewing our outdoor space, we can now offer an even more inclusive and supportive environment that truly meets the needs of every child in our care. This project allowed us to overcome previous challenges and ensures Watoto Pre-school will continue to be a nurturing and accessible place for generations to come. We have completed the upgrade and expansion of our outdoor play garden, achieving our goal of making it fully accessible and inclusive for all children. Our key accomplishments include: ccessibility Improvements: We adjusted terrain, pathways, and play structures o every child-including those with mobility challenges-can move confidently and freelyithroughout the entire outdoor area. Sen y Zones: We created dedicated sensory zones that provide a safe and stimulating environment where every child can explore and learn at their own pace. Developmental Support: We added play elements designed to foster language development, social skills, and behavioural growth, helping address learning gaps that widened during the pandemic. www.watotopreschool.org.uk Key Achievements 24 - 25 Assess how tasks are allocated across individuals, teams. and areas. and clarifypreschool structure. job roles. committee responsibilities. and service agreements. The committee undertook a comprehensive review of the preschool leadership structure with the aim of strengthening governance, improving decision- making processes, and ensuring that leadership roles are aligned with the needs of our children, families, and staff. This review focused on creating a structure that supports transparency, accountability, and collaboration, while enabling the preschool to deliver the highest standards of care and education. A leadership structure realignment plan was developed to clarify roles, responsibilities, job descriptions, and reporting lines. Consultation is scheduled for summer 2025, with implementation set for September 2025. In summary, Watoto Preschool successfully addressed its key targets for 2024- 25 through a combination of strategic planning, community engagement, and effective resource management. By expanding childcare provision, Ihe preschool was able to accommodate more families, introduce dedicated spaces for different age groups, and partner with local schools to enhance wraparound care. The significant investment in the outdoor play garden has created a more inclusive, accessible, and stimulating environment, ensuring all children benefit from high-quality outdoor learning experiences. Furthermore, the comprehensive review and planned restructuring of leadership and organisational roles demonstrates a commitment to strong governance and continuous improvement. Collectively, these achievements highlight Watoto Preschool's dedication to meetin community needs and fostering a nurturing, inclusive environment for every www.watotopreschool.org.uk Future Targets strategy -/ii 01. Assess expansion investment results in 2024-25 by comparing occupancy levels in 2025-26. . Occupancy Growth Evidence that the expansion has led to a higher occupancy rate compored to pre- expansion levels. b. Financial Return Demonstrated increase in revenue or improved cost-eff iciency as a direct result of the expansion. 03. Attain a comprehensive understanding otthe new OFSTED Framework and ensure its effective implementation. c. Quality & Sustainability Maintained or improved quality of provision despite increased capacity (e.g.. staff ratios, parent satisfaction, compliance a. Full Understanding of the Framework Leadership and staff have completed training or briefing sessions on the new OFSTED framework. Evidence of clear understanding demonstrated through staff feedbock or knowledge checks. Consult and Implement the leadership structure realignment Policies and Practices Updated All policies, procedures, and documentation aligned with the new framework requirements. Curriculum planning and assessment processes reflect OFSTED priorities and standards. a. Stakeholder Engagement & Approval All relevant stakeholders (committee. staff, parents) have been consulted and provided feedback. b. Implementation of Now Stru¢tur• New leadership roles and responsibilities clearly defined and communicated. c. Successful Implementation Action plan developed and executed for embedding changes into daily practice. Internal mock inspections or audits show compliance with the new framework. Positive feedback from staff and committee on clarity and confidence in meeting OFSTED expectations. c. Improved Governance & Operational Efficiency Evidence of streamlined decision-making processes (e.g., reduced delays, clearer accountability). High Quality Early Education & Childcare for Each Individual Child As we bring the 2024-25 year to a close, we would like to extend our heartfelt thanks to everyone who has contributed to making it such a successful and memorable period for Watoto Preschool. To our dedicated staff, your passion and commitment have been the foundation of our nurturing environment. To our families and carers, your ongoing support and involvement have enriched our community and helped each child to thrive. Sincere gratitude also goes to our Board of Trustees, Committee members, and generous donors-your guidance and contributions have been invaluable in helping us achieve our goals and deliver transformational changes. Together, we have faced challenges, celebrated achievements, and built a truly inclusive and vibrant preschool community. Thank you all for making 2024-25 a wonderful year. We look forward to welcoming new families, continuing our partnerships, and building on our successes in the coming yearl Contact Us SCAN ME! 0330 0160 5668 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 Charity registration number 1121786 Company registration number 05876594 (England and Wales) BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL LEGALAND ADMINISTRATIVE INFORMATION Management Committee J Brown N Brown Mr G Wilson S McFarlane- Resigned 2210812024 Charity number 1121786 Company number 05876594 Registered office Watoto Pre-school 139 Catherine Road Sheffield S4 7HJ Independent examiner Shaik Shukur FCCA Aziz Accountants Ltd 130 First floor Ilford Lane Ilford IGI 2LE Bankers Lloyds TSB Bank PIC P.0. Box 85 14 Church Street Sheffield South Yorkshire SI IHP Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL CONTENTS Page Committee Members, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-13 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL COMMITTEE MEMBERS. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The management committee present their annual report and financial statements for the year ended 31 March 2025. 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 Memorandum of Association. 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 IFRS 1021 {effective l January 20191" Objectives and artivities The charity's objects are: 11 To advance the education and provide safe and stimulating care of all children between the ages of six months and five years. in particular those living in the Burngreave and adjacent areas of the City of Sheffield {"the area of benefit") and who are from minority ethnic backgrounds, and to advance the education of those responsible for their day to day care, without distinction of gender, race, disability, sexuality. social class. religious belief or political belief,. and 21 In the pursuance of the above objective, to establish. maintain and manage a locally controlled community childcare centre, providing care and education aimed particularly at children from the area of benefit, and training primarily in childcare and personal development skills aimed particularly at adults, students. and school pupils from the area of benefit. The aims of the charity are- 11 To provide a high quality nursery education and childcare service for children aged six months to five years to ensure they have a sure start in readiness for school. 21 To provide a service that enables parents and carers to take up educational training and employment opportunities in order to contribute to the social and economic regeneration of Burngreave. 31 To provide a professional, culturally appropriate service that is affordable and inclusive of all. 41 To encourage staff, students and school pupils to develop and advance their skills, qualifications and understanding within the nursery education and childcare sector. 51 To work in partnership with other local and citywide agencies to share good practice and to contribute to the strategic direction of nursery education and childcare services in Burngreave. The management committee have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set and ensure services continue to be of benefit to the general public. Achievements and performance Financial review The management committee have established a policy where the unrestricted funds not committed or invested in tangible fixed assets I'the free reserves") held by the School should strive to be represented by six months of the resources expended, with a minimum balance of £50,000 in general funds. This would enable the School to continue operating at the same level of activities in the event of either a significant drop in funding or major building repairs becoming imperative, allowing time for alternative funding to be secured. At 31 March 2025. the free reserves were sufficient to meet nine weeks, expenditure. The management committee have continued to reorganise and streamline all processes of the School. This has involved optimising staffing levels. strengthening existing budgetary controls and introducing management processes to ensure the long-term financial viability of the School. The management committee consider that it is appropriate for the funds of the Centre to be retained in the School's bank account to meet the daily requirements of the School's expenditure. The members of the committee do not consider there are funds in excess of the daily requirements for investment. Page I Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL COMMITTEE MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The management committee have assessed the major risks to which the charity is exposed, and is satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management The Black Women's Resource Centre Watoto Pre-school was established on 14 July 2006 under a Memorandum of Association and is governed under its Articles of Association, as amended by special resolution dated 17 October 2007. The charity is a company limited by guarantee and each member of the company is required to contribute an amount not exceeding £15hould the company be wound up while they are a member, or within one year after they cease to be a member. The members of the management committee, all of whom are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- J Brown N Brown S McFarlane- resigned 2210812024 G Wi150n Any person qualified and wishing to become a trustee must be aged 18 years or over and must either be recommended by the Trustees or be nominated for election by a member of the Charity. A nomination for election from a member must be signed by that member and by the person being nominated. and it must be lodged with the Secretary not less than 7 not more than 28 clear days before the date of the AGM. The trustees when complete consist of.. 11 the Officers of the charity Ichairperson, Vice-chairperson, Secretary and Treasurer} elected at each AGM 21 up to 2 representatives of member organisations elected at each AGM 31 up to 3 individual members elected at each AGM 41 up to 3 individuals Iwho need not be members of the charity) co-opted bythe trustees The Trustees must hold a minimum of two meetings per year. but otherwise can arrange and hold their meetings as they see fit. If appropriate. meetings may be held by electronic means. The day-to-day runnin2 of the charity is dele2ated to the manaRer. It is the policy of the management committee to appoint trustees from parents of children who attend the nursery which is run by the School. As a result they will be familiar already with various documents relating to the history and aims of the Black Women's Resource Centre Watoto Pre-school, together with a number of policy documents covering the day-to-day running of the School. They will have attended the regular meetings of the management committee during which the business and finances of the School will have been discussed in detail, together with the management committee's role, responsibility and obligations. Every trustee must sign a declaration of willingness to act as a trustee of the charity before they are eligible to vote at any meeting of the Trustees. The committee members, report was approved by the Board of Maia ent Committee. 508E42F. 1494. Director Dated.. 10 December 2025 Director Dated: 10 December 2025 Page 2 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMIThEE OF BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL I report to the management committee on my examination of the financial 5tatement5 of Black Women's Resource Centre Watoto Pre-school (the charity} for the year ended 31 March 2025. Responsibilities and basis of report As the management committee of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself 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, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me 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 independent examination: or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns 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. Shaik Shukur FCCA Independent Examiner Chartered Certified Accountant Aziz Accountants Ltd 130 First floor Ilford Lane Ilford IGI 2LE Dated.. 10 December 2025 Page 3 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrirted funds funds 2025 2025 Unrestricted Restricted funds funds 2024 2024 Income from: Government grants Charitable activities Investments Notes 58.878 438.177 57 6,888 332,035 53 Total income 497.112 338,976 enditure on: Charitable activities 446.780 337,706 Net income for the year/ Net movement in funds 50.332 1,270 Fund balance5 at l April 2024 50.211 48.941 Fund balances at 31 March 2025 100.543 50,211 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. Page 4 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets io 62.715 21,834 Current assets Debtors Cash at bank and in hand li 8.184 48,870 57,054 8,184 31,091 39,275 Creditors: amounts falling due within one year 12 19,226 10,898 Net current assets 37,828 28,377 Total assets less current liabilities 100,544 50,211 Income funds Unrestricted funds 100,544 100,544 50,211 50,211 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 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Management Committee on 10 December 2025 Strjned by.. Swjwl by. 45Ft￿C64s08E42F. J Brown Trustee 937E3E796E61494.. G Wilson Trustee Company registration number 05876594 Page 5 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l Accounting policies Charity information Black Women's Resource Centre Watoto Pre-school is a private company limited by guarantee incorporated in England and Wales. The registered office is Watoto Pre-school. 139 Catherine Road. Sheffield, S4 7HJ. 1.1 Accounting corniention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of A550ciation, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP "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 {FRS 1021" (effective l January 20191. The charity is a Public Benefit Entity a5 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 currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements 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 management committee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the management committee continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the management committee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors 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. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Donated facilities and services are included at the value to the School where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Grants, where entitlement is not conditional on the delivery of a specific performance by the School, are recognised when the School becomes unconditionally entitled to the grant. Grants related to performance and specific deliverables, are accounted for as the School earns the right to consideration by its performance. Where incoming resources have related expenditure las with fundraising). the incoming resources and related expenditure are reported gross in the SOFA. Bank interest is recognised when it is credited to the account. 1.5 Expenditure Liabilities are recognised as soon a5 there is a legal or constructive obligation to pay out resources. Page 6 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Expenditure is recognised on an accruals ba51S. Charitable expenditure comprises those costs incurred by the School in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Redundancy costs are recognised in the period in which they are agreed. Governance costs included the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Items of equipment are only capitalised where the purchase price exceeds £1,000 and they can be used for more than one year. Depreciation is recognised so as to write off the cost or valuation of a55ets le55 their residual values over their useful lives on the following bases: Fixtures and fittings 20% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds 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 reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exist5, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 settle the liability simultaneously. 80sicfinancial 0ssetS Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Page 7 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basicfinancial liabilities Basic financial liabilities, including creditors and bank loans 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 not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current 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 at amortised cost using the effective interest method. Derecognition offinanciol liobilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Taxation The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or expense to which it relates. 1.11 Employee benefits The cost of any unused holiday entitlement 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 termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the chariws accounting policies, the management committee are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Government grants Total Unrestricted funds 2025 2024 Apprenticeship Grants Intervention / DAP Grants Development Grant 1.025 7.853 50.000 58,878 2,500 4,388 6,888 Page 8 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities 2025 2024 Sheffield City Council receipts Parents, fees 344.521 93,656 265,143 48,885 18,007 Other Income 438,177 332,035 Analysis by fvnd Unrestricted funds 438,177 332,035 Restricted funds Investments Total Unrestricted funds 2024 Interest receivable 57 53 Page 9 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities 2025 2024 Staff costs Staff training, uniform and welfare Nursery meals Rent. rates and water rates Cleaning and hygiene materials Light and heat Repair5 and renewals Play resources and materials Computer and CCTV costs Administration of payroll Telephone Bank charges Insurance Printing and Stationery Travel expenses and outings Advertising Legal and Professional fee Depreciation and impairment Subscriptions and Administration 279,400 3,843 11,108 1.098 211,022 2,967 4,623 2,285 1,521 16,006 22,038 2,423 9,883 1,029 1,606 83 1,627 5,468 115 338 16,060 24,945 8,987 18,216 1,291 1,503 loo 1,898 5,867 453 5,099 3,298 10,825 3,920 397,911 5,278 2,563 290,875 Grant funding of activities (see note 71 Share of governance costs (see note 81 48,869 446,780 46,831 337,706 Analysis by fund Unrestricted funds Restricted funds 446,780 337,706 Grants payable 2025 2024 Grants to institutions: Page 10 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs 2025 2024 Governan￿ costs Independent Examiner fees Business, HR, Health and Safety consultancy costs 1,500 47,369 48,869 1,500 45,331 46,831 Analysed between Charitable activities 48,869 46,831 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number The average number of employees based on full-time equivalents during the year is: 15 15 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs Recruitment costs Agency and support costs 256.537 8,816 5.101 1,383 7.563 279,400 198,436 4,535 3,901 2,386 1,764 211,022 There were no employees whose annual remuneration was £60.O¢XJ or more. Page I Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Tangible fixed assets Fixtures and fittings Cost At l April 2024 Additions At 31 March 2025 29,249 51,706 80,955 Depreciation and impairment At l April 2024 Depreciation charged in the year At 31 March 2025 7,415 10,825 18,240 Carrying amount At 31 March 2025 At 31 March 2024 62,715 21,834 11 Debtors Amounts falling due within one year: 2025 2024 Trade debtors Prepayments and accrued income 8,184 8,184 8,184 8,184 12 Creditors: amounts falling due within one year 2025 2025 Trade creditors 13,735 3,110 881 8,830 HMRC PAYE Pensions Accruals and deferred income 568 1,500 1,500 19,226 10,898 Page 12 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Related party transartions No remuneration was paid to any trustee for acting as a trustee. Travel and other expenses amounting to £Nil (2024 - £Nill were reimbursed to trustees during the year. Janette Brown 15 a director of 2 Generations JNC Limited (formerly Watoto Enterprise Limited). The charity was charged £17,950 12024: £16,500} by this company for the provision of Human Resources, Health and Safety management advice and advertisement via the provision of one person during the year under review together with website development. Gregory Wilson is a director of Wilbro Associates Limited, a management consultancy company. The charity was charged £35,332 {2024- £24,675) for the cost of two employees seconded to the charity, IT consultancy and bookkeeping services. Included in Trade creditors was an amount of £Nil 12024:£NILI owing to Wilbro Associates Limited at 31 March 2025. No other trustee or other person connected to the charity had any personal interest in any contract or transaction entered into by the charity during the year. Page 13 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 Charity registration number 1121786 Company registration number 05876594 (England and Wales) BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL LEGALAND ADMINISTRATIVE INFORMATION Management Committee J Brown N Brown Mr G Wilson S McFarlane- Resigned 2210812024 Charity number 1121786 Company number 05876594 Registered office Watoto Pre-school 139 Catherine Road Sheffield S4 7HJ Independent examiner Shaik Shukur FCCA Aziz Accountants Ltd 130 First floor Ilford Lane Ilford IGI 2LE Bankers Lloyds TSB Bank PIC P.0. Box 85 14 Church Street Sheffield South Yorkshire SI IHP Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL CONTENTS Page Committee Members, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 6-13 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL COMMITTEE MEMBERS. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The management committee present their annual report and financial statements for the year ended 31 March 2025. 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 Memorandum of Association. 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 IFRS 1021 {effective l January 20191" Objectives and artivities The charity's objects are: 11 To advance the education and provide safe and stimulating care of all children between the ages of six months and five years. in particular those living in the Burngreave and adjacent areas of the City of Sheffield {"the area of benefit") and who are from minority ethnic backgrounds, and to advance the education of those responsible for their day to day care, without distinction of gender, race, disability, sexuality. social class. religious belief or political belief,. and 21 In the pursuance of the above objective, to establish. maintain and manage a locally controlled community childcare centre, providing care and education aimed particularly at children from the area of benefit, and training primarily in childcare and personal development skills aimed particularly at adults, students. and school pupils from the area of benefit. The aims of the charity are- 11 To provide a high quality nursery education and childcare service for children aged six months to five years to ensure they have a sure start in readiness for school. 21 To provide a service that enables parents and carers to take up educational training and employment opportunities in order to contribute to the social and economic regeneration of Burngreave. 31 To provide a professional, culturally appropriate service that is affordable and inclusive of all. 41 To encourage staff, students and school pupils to develop and advance their skills, qualifications and understanding within the nursery education and childcare sector. 51 To work in partnership with other local and citywide agencies to share good practice and to contribute to the strategic direction of nursery education and childcare services in Burngreave. The management committee have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set and ensure services continue to be of benefit to the general public. Achievements and performance Financial review The management committee have established a policy where the unrestricted funds not committed or invested in tangible fixed assets I'the free reserves") held by the School should strive to be represented by six months of the resources expended, with a minimum balance of £50,000 in general funds. This would enable the School to continue operating at the same level of activities in the event of either a significant drop in funding or major building repairs becoming imperative, allowing time for alternative funding to be secured. At 31 March 2025. the free reserves were sufficient to meet nine weeks, expenditure. The management committee have continued to reorganise and streamline all processes of the School. This has involved optimising staffing levels. strengthening existing budgetary controls and introducing management processes to ensure the long-term financial viability of the School. The management committee consider that it is appropriate for the funds of the Centre to be retained in the School's bank account to meet the daily requirements of the School's expenditure. The members of the committee do not consider there are funds in excess of the daily requirements for investment. Page I Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL COMMITTEE MEMBERS. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The management committee have assessed the major risks to which the charity is exposed, and is satisfied that systems are in place to mitigate exposure to the major risks. Structure, governance and management The Black Women's Resource Centre Watoto Pre-school was established on 14 July 2006 under a Memorandum of Association and is governed under its Articles of Association, as amended by special resolution dated 17 October 2007. The charity is a company limited by guarantee and each member of the company is required to contribute an amount not exceeding £15hould the company be wound up while they are a member, or within one year after they cease to be a member. The members of the management committee, all of whom are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were- J Brown N Brown S McFarlane- resigned 2210812024 G Wi150n Any person qualified and wishing to become a trustee must be aged 18 years or over and must either be recommended by the Trustees or be nominated for election by a member of the Charity. A nomination for election from a member must be signed by that member and by the person being nominated. and it must be lodged with the Secretary not less than 7 not more than 28 clear days before the date of the AGM. The trustees when complete consist of.. 11 the Officers of the charity Ichairperson, Vice-chairperson, Secretary and Treasurer} elected at each AGM 21 up to 2 representatives of member organisations elected at each AGM 31 up to 3 individual members elected at each AGM 41 up to 3 individuals Iwho need not be members of the charity) co-opted bythe trustees The Trustees must hold a minimum of two meetings per year. but otherwise can arrange and hold their meetings as they see fit. If appropriate. meetings may be held by electronic means. The day-to-day runnin2 of the charity is dele2ated to the manaRer. It is the policy of the management committee to appoint trustees from parents of children who attend the nursery which is run by the School. As a result they will be familiar already with various documents relating to the history and aims of the Black Women's Resource Centre Watoto Pre-school, together with a number of policy documents covering the day-to-day running of the School. They will have attended the regular meetings of the management committee during which the business and finances of the School will have been discussed in detail, together with the management committee's role, responsibility and obligations. Every trustee must sign a declaration of willingness to act as a trustee of the charity before they are eligible to vote at any meeting of the Trustees. The committee members, report was approved by the Board of Maia ent Committee. 508E42F. 1494. Director Dated.. 10 December 2025 Director Dated: 10 December 2025 Page 2 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMIThEE OF BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL I report to the management committee on my examination of the financial 5tatement5 of Black Women's Resource Centre Watoto Pre-school (the charity} for the year ended 31 March 2025. Responsibilities and basis of report As the management committee of the charity land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself 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, I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145151{bl of the 2011 Act. Independent examiner's Statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me 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 independent examination: or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns 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. Shaik Shukur FCCA Independent Examiner Chartered Certified Accountant Aziz Accountants Ltd 130 First floor Ilford Lane Ilford IGI 2LE Dated.. 10 December 2025 Page 3 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrirted funds funds 2025 2025 Unrestricted Restricted funds funds 2024 2024 Income from: Government grants Charitable activities Investments Notes 58.878 438.177 57 6,888 332,035 53 Total income 497.112 338,976 enditure on: Charitable activities 446.780 337,706 Net income for the year/ Net movement in funds 50.332 1,270 Fund balance5 at l April 2024 50.211 48.941 Fund balances at 31 March 2025 100.543 50,211 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. Page 4 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed assets Tangible assets io 62.715 21,834 Current assets Debtors Cash at bank and in hand li 8.184 48,870 57,054 8,184 31,091 39,275 Creditors: amounts falling due within one year 12 19,226 10,898 Net current assets 37,828 28,377 Total assets less current liabilities 100,544 50,211 Income funds Unrestricted funds 100,544 100,544 50,211 50,211 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 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Management Committee on 10 December 2025 Strjned by.. Swjwl by. 45Ft￿C64s08E42F. J Brown Trustee 937E3E796E61494.. G Wilson Trustee Company registration number 05876594 Page 5 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l Accounting policies Charity information Black Women's Resource Centre Watoto Pre-school is a private company limited by guarantee incorporated in England and Wales. The registered office is Watoto Pre-school. 139 Catherine Road. Sheffield, S4 7HJ. 1.1 Accounting corniention The financial statements have been prepared in accordance with the charity's Memorandum and Articles of A550ciation, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102,1 and the Charities SORP "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 {FRS 1021" (effective l January 20191. The charity is a Public Benefit Entity a5 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 currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements 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 management committee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the management committee continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the management committee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors 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. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Donated facilities and services are included at the value to the School where this can be quantified. The value of services provided by volunteers has not been included in these accounts. Grants, where entitlement is not conditional on the delivery of a specific performance by the School, are recognised when the School becomes unconditionally entitled to the grant. Grants related to performance and specific deliverables, are accounted for as the School earns the right to consideration by its performance. Where incoming resources have related expenditure las with fundraising). the incoming resources and related expenditure are reported gross in the SOFA. Bank interest is recognised when it is credited to the account. 1.5 Expenditure Liabilities are recognised as soon a5 there is a legal or constructive obligation to pay out resources. Page 6 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Expenditure is recognised on an accruals ba51S. Charitable expenditure comprises those costs incurred by the School in the delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Redundancy costs are recognised in the period in which they are agreed. Governance costs included the costs of preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters. (Continued) 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Items of equipment are only capitalised where the purchase price exceeds £1,000 and they can be used for more than one year. Depreciation is recognised so as to write off the cost or valuation of a55ets le55 their residual values over their useful lives on the following bases: Fixtures and fittings 20% on cost The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds 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 reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exist5, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss {if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, 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 settle the liability simultaneously. 80sicfinancial 0ssetS Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Page 7 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) Basicfinancial liabilities Basic financial liabilities, including creditors and bank loans 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 not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current 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 at amortised cost using the effective interest method. Derecognition offinanciol liobilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Taxation The charity is not liable to income or capital gains tax on its charitable activities. Irrecoverable VAT is included in the asset cost or expense to which it relates. 1.11 Employee benefits The cost of any unused holiday entitlement 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 termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the chariws accounting policies, the management committee are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates 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 underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Government grants Total Unrestricted funds 2025 2024 Apprenticeship Grants Intervention / DAP Grants Development Grant 1.025 7.853 50.000 58,878 2,500 4,388 6,888 Page 8 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities 2025 2024 Sheffield City Council receipts Parents, fees 344.521 93,656 265,143 48,885 18,007 Other Income 438,177 332,035 Analysis by fvnd Unrestricted funds 438,177 332,035 Restricted funds Investments Total Unrestricted funds 2024 Interest receivable 57 53 Page 9 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities 2025 2024 Staff costs Staff training, uniform and welfare Nursery meals Rent. rates and water rates Cleaning and hygiene materials Light and heat Repair5 and renewals Play resources and materials Computer and CCTV costs Administration of payroll Telephone Bank charges Insurance Printing and Stationery Travel expenses and outings Advertising Legal and Professional fee Depreciation and impairment Subscriptions and Administration 279,400 3,843 11,108 1.098 211,022 2,967 4,623 2,285 1,521 16,006 22,038 2,423 9,883 1,029 1,606 83 1,627 5,468 115 338 16,060 24,945 8,987 18,216 1,291 1,503 loo 1,898 5,867 453 5,099 3,298 10,825 3,920 397,911 5,278 2,563 290,875 Grant funding of activities (see note 71 Share of governance costs (see note 81 48,869 446,780 46,831 337,706 Analysis by fund Unrestricted funds Restricted funds 446,780 337,706 Grants payable 2025 2024 Grants to institutions: Page 10 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs 2025 2024 Governan￿ costs Independent Examiner fees Business, HR, Health and Safety consultancy costs 1,500 47,369 48,869 1,500 45,331 46,831 Analysed between Charitable activities 48,869 46,831 Employees The average monthly number of employees during the year was: 2025 Number 2024 Number The average number of employees based on full-time equivalents during the year is: 15 15 Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs Recruitment costs Agency and support costs 256.537 8,816 5.101 1,383 7.563 279,400 198,436 4,535 3,901 2,386 1,764 211,022 There were no employees whose annual remuneration was £60.O¢XJ or more. Page I Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Tangible fixed assets Fixtures and fittings Cost At l April 2024 Additions At 31 March 2025 29,249 51,706 80,955 Depreciation and impairment At l April 2024 Depreciation charged in the year At 31 March 2025 7,415 10,825 18,240 Carrying amount At 31 March 2025 At 31 March 2024 62,715 21,834 11 Debtors Amounts falling due within one year: 2025 2024 Trade debtors Prepayments and accrued income 8,184 8,184 8,184 8,184 12 Creditors: amounts falling due within one year 2025 2025 Trade creditors 13,735 3,110 881 8,830 HMRC PAYE Pensions Accruals and deferred income 568 1,500 1,500 19,226 10,898 Page 12 Docusign Envelope ID.. 139AC3A&1886490fHABE-FDAB2727CBD2 BLACK WOMEN'S RESOURCE CENTRE WATOTO PRE-SCHOOL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Related party transartions No remuneration was paid to any trustee for acting as a trustee. Travel and other expenses amounting to £Nil (2024 - £Nill were reimbursed to trustees during the year. Janette Brown 15 a director of 2 Generations JNC Limited (formerly Watoto Enterprise Limited). The charity was charged £17,950 12024: £16,500} by this company for the provision of Human Resources, Health and Safety management advice and advertisement via the provision of one person during the year under review together with website development. Gregory Wilson is a director of Wilbro Associates Limited, a management consultancy company. The charity was charged £35,332 {2024- £24,675) for the cost of two employees seconded to the charity, IT consultancy and bookkeeping services. Included in Trade creditors was an amount of £Nil 12024:£NILI owing to Wilbro Associates Limited at 31 March 2025. No other trustee or other person connected to the charity had any personal interest in any contract or transaction entered into by the charity during the year. Page 13