Registered number: 05364793
Charity number: 1122682
THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Lirnited by Guarantee)
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarantee)
CONTENTS
Page
Reference and Adminlstrative Details of the Charlty. its Trustees and Advlsers
Trust8es' Report
Independent Examlnerfs Report
ststement of Flnancial Activltles
Balance Shaet
Notes to the Flnancial Ststements
9-23

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Llmited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 AUGUST 2024
Trustees
Amalia Petruzzeli
Roderick Cantrill, Treasurer (from 13 June 2024)
RaGhel E￿ardS {Resigned, 12 March 2024)
Toreanna Friday. Treasurer (Resigned, 12 June 2024)
Sidra Jabeen (Resigned 1 October 2023)
Jonathan Pattinson
Jane Plows (Resigned 6 May 2024)
Cecilia Prichard Jones (Resigned 12 March 2024)
Julia Proctor
Rajani Rao {Resigned 30 January 2024)
Eleanor Riley
Isobel Elspeth Dowell (Appointed 9 May 2024)
Elizabeth Wheater (Appointed 17 June 2024)
Katherine Footer (Appointed S June 2024, resigned 3 October 2024)
Ellen Nugent (Appointed 15 January 2024, resigned 21 February 2024)
Company reglstered number
05364793
Charity registered number
1122682
Registered office
4A Millington Road
CAMBRIDGE
CB3 9HB
Accountants
Mrs K Bretherick FCA
Peters E￿orthY & Moore
Salisbury House
Station Road
Cambridge
CB12LA
Bankers
HSBC
PO Box 85
Cty Office
Cambridge
CB2 3HZ
Page 1

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
{A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
The Charity was fonned to carry on the Millington Road Nursery School and to promote the advancement of
education.
The average number of children on the Nursery's register in 202>24 was 41 in the Autumn tem, 46 in the Spring
term and 53 in the Summer tem.
The Trustees are aware of the Charty Commission guidance on public benefft and their operation of the Nursery
School reflects this in the following ways.
As an Ofsted-registered early years provider we follow and deliver the Early Years Foundation Stage as
set out in the Statutory Framework. Cambridgeshire County Council is responsible for developing childcare places
throughout the county and for supporting us as a provider to meet the ststutory requirements and deliver quality
education and care.
b)
As part of our local provider agreerEnt wrth the council we offer 15 universal hours to all 3 and 4 year
olds, funded by the council. From April 2024, we began accepting 2 year old children with 15 hours funding from
families with two working parents that meetthe required income eligibilrty. This was slongside our existing 15 hour
provision for 'funded 2 year olds. for eligible lower-income families or through professional third-party referral by,
for example, a social worker or health pr8Ctrtioner. We do not, however, choose to accept the 30 hours offer for 3
and 4 year olds.
The Nursery supports the educatbon and training of future ehildcare providers by the provision of work
experience placements for students, school leavers and on occasion Duke of Edinburgh Award participants. The
Nursery takes an active approach to the training and development of rts staff, supporting and enabling participation
in a range of training opportunrties.
d)
Given its charrtable status, the Nursery maintains Its fees at as low a level as possible to cover its running
cosls. Income from fees is used to compensate for the fact that the reimbursement the nursery receives from the
County Council for funded children is signrficantty less than the cost to the Nursery of providing their nursery
education. The Nursery is keeping a close eye on the potential impact of the Govemmenl's announcements about
future changes to funding requirements and free nursery provision for early years.
A hardship fund exists to help any parents who have unexpected financial difficulties, and this can be used
to provide extra free days for children who derive particular benefrt from nursery education. One child was funded
for 16 hours per week in the year up toAugust 2024.
The Trustees provide their professional skills and serrfices as unpaid volunteers in order to k￿p costs to
a minimum. They visrt the nursery on a regular basis and are available for consultation.
g)
The Nursery has a￿ayS received children from many different nationalities whose p8rents are currently
working or studying in Cambridge. It makes every effort to communicate with these children in their own language
8nd to acknowledge and celebrate various festivals from around the world as part of the curriculum.
h)
The Nursery has a strong commitment to following environmentalty friendly policies in the school and
promoting their wider use in the community.
The Nursery is delighted to play an active part in ris neighbouring community. inviting residents to visit the
nursery to read to the children and attend special events. and maintaining links with local establishments including
the church and local schools.
Page 2

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
ACHIEVEMENTSAND PERFORMANCE
Review of activities
The Nursery continues its policy of free choice between indoor and outdoor play. making full use of the secluded
natural garden wi(h its imaginative planting, raised walkway and treehouse and many other features, all making
use of natural materials and giving a woodland feel. Forest School activities are undertaken by a member of staff
who has completed the Forest Sch￿1 training. Staff.-trustees and parents give their time to help maintain and
further develop the garden.
We continue to encourage active engagement between our children, parents and our local community. Activities
have included stories, songs and a puppet show by neighbours and parents, and visits to the local church. At
Christmas the children perfomied a nativity Christmas show and we held a Teddy Bears, Picnic in the summer
term for all our children. their parents and extended families.
The children have continued to enjoy and benefrt from their music and dance class with an inspirational
professional music teacher and weekly yoga sessions with a teacher from Kings College School. We also offer
weekly RugbyTots classes with a professional sports coach.
All staff continue to be proactive in participating in annual CPD both on council led courses 8nd through inset
training days, ensuring meeting of essentia5 mandatory training (such as safeguarding and first aid) and following
of particular interests regarding children's leaming and development.
Organlsatlon
During the year Ms Lena Pimm indicated to the Trusts her intention to step done as Principal in December 2024.
Richard Smith, an existing member of the nursery staff, was appointed asthe Principal afterthe end ofthe financial
year end and commenced in the role from December 2024. The Principal works with and reports to the Trustees
of the Nursery. The Trustees meet regularly throughout the year, and individual Trustees also visit and support the
nursery and the staff on an ongoing basis
The market for recruitment of skilled Nutsery workefs continues to remain challenging and the Nursery has
sometimes found it difficutt to recruit but is pleased to have hired some excellent replacement staff when some of
the longer serving members have moved on.
Inspections
The Nursery School received an inspection by Ofsted in September 2021 and was awarded "Outstanding" status
in all areas. The report praised the highty skilled staff, who know their key children extremely well and use this
infomiation superbly to build on children's leaming and help them make links in their world. It said that the staff
are excellent role models for the children. are considerate and respectful, and make the most of opportunrties to
expertly extend children's leaming.
Premises
The Chanty occupies premises known as Millingion Road Nursery School. which are owned by the Provost and
Scholars of King's College, Cambridge. Until 28 September 2002, the premises were occupied at a peppercorn
rent. Since then, the rent has been raised gradually to a competrtive rate which is now set at £18,000 per annum
until July 2027.
Page 3

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
{A Company Limited by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
During the year the Twstees and Principal of the nursery continued to cany out a programme of maintenance and
improvement to the building and outdoor proviS￿n in the nursery, buikling on the work undertaken in the previous
year.
Going Concern
The nursery operated at a surplus of slightly below £7.000 in the year to 31 August 2024. This is in line with the
prioryear's surplus. The surplus will go towards repairing funds thatwere negatively impacted during the pandemic
(-£21,851 be￿een 2018-19 and 2021-22) Trustees will continue to monitor changes to funding and provision
announced by Govemment, the number of children on the roll. staffing ratios, working hours and costs, and look
forward to working with the Pnncipal and staff of the nursery over the year ahead.
FINANCIAL REVIEW
The Trustees and management team closely monrtored the budget throughout the year with the level of activity
sustained in comparison to the previous year, resutting in incoming resources outgrowing expenditure. The
numbers of children enrolled at the nursery Continued to improve, but the impact of this increase in the Nursery's
finances has to some degree been offset by increased stsff costs, increased professional fees (due to the Finance
Manager role being undertaken on a consultancy basis, rather than by a member of staff), the continued high level
of energy bills, and the continued need to maintain the nursery building and the outside play area.
Nomal operations in the year ended 31 August 2024 resulted in a surplus of £6.973 (2023.. surplus of £6,894}
with income for the year of £309,413 (2023. £312,484) and expendrture of £302,440 {2023. £305,590). As
indicated 8bove, the surplus will assist in repairing the Nursery's funds that were negatively impacted by the
pandemic. Total funds at the year*nd were £211,756 12023: £205,783). Of these funds, £131,421 {2023'.
£132,249) were designated for specific purposes, as described in note 14 of these accounts.
The trustees remain keen to ensure that children of lowqncome families can be accommodated at the nursery and
can benefit fully from the excellent care and education provided. The trustees welcome applications from parents
and these are considered on a case-by-case basis by the Principal and trustees.
Bursaries are awarded from the Hardship Fund, created several years ago for this purpose. One grant for one
child was disbursed in this year at a cost of £828 (2022.. £5,368).
Reserves Pollcy
We believe it is prudent to hold a level of unrestricted reserves that will support the charity during periods of
uncertainty and any exceptional circumstances where additional financial support is needed. The Trustees aim to
hold free reserves equivalent to approximately 3 months, charrtable expenditure. equating to between £60,000
and £80,000. Free reserves at the yearond (total funds ￿sS restricted funds, designated funds and fixed assets)
amounted to £61,380 {2023.. £69,457). Therefor8. free reserves are wrthin the desired target range.
STRUCTURE, GOVERNANCEAND MANAGEMENT
The Charity is registered as a company limited by guarantee and is govemed by its Memorandum and Articles of
Association dated 15 February 2005, amended by a special resolution dated 25 March 2007. Charitable status
was obtained on 7 February 2008. The assets and activities of the charty known as The Millington Road Nursery
School Trust (charity registration number 300373) We￿ transfe￿ed to the new incorporated charity on 31
August2008. The Trustees (and their areas of expertise) who served during the year were:
Page 4

THE MILLINGTON ROAD NURSERYSCHOOL TRUST
(A Company Limited by Guarantee)
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
Amalia Petruzzeli
Roderick Cantrill, Treasurer {from 13 June 2024)
Rachel Edwards (Resigned, 12 March 2024)
Toreanna Friday, Treasurer (Resigned, 12 June 2024)
Sidra Jabeen {Resigned 1 October 2023)
Jonathan Pattinson
Jane Plows (Resigned 6 May 2024)
Cecilia Prichard Jones (Resigned 12 March 2024)
Julia Proctor
Rajani Rao (Resigned 30 January 2024)
Eleanor Riley
Isobel Elspeth Dowell (Appointed 9 May 2024)
Elizabeth Wheater (Appointed 17 June 2024)
Katherine Footer (Appointed 5 June 2024, resigned 3 October 2024)
Ellen Nugent (Appointed 15 January 2024, reS￿ned 21 February 2024)
The board of Trustees endeavour to appoint Trustees who will provide valuable and practical skills for the Charity.
Many Trustees ar8 current or fomier parentslgrandparents of children at the school.
TRUSTEES, RESPONSIBILITIES STATEMENT
The Trustees (who a￿ also directors of Millington Road Nursery School Trust for the purposes of company law)
are responsible for preparing the Trustees, Report and the financial ststements in accordance with applicable law
and Unrted Kingdom Accounting Standards (Unrted Kingdom Generally Accepted Accounting Practice). Company
law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state
of affairs of the charitable company and of the incoming resources and application of resources. including the
income and expendrture, of the charrtable company for that period. In preparing these financial statements, the
Trustees Sre required to=
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charrties SORP;
make judgments and accounting estimates that are reasonable and prudent.,
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that 8re sufficient to show and explain the
charitable company's transactions and disclose wtth reasonable accuracy at any time the financial posrtion of the
charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006
They are also responsible for safeguarding the assets of the charrtable company and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the
board of Trustees and signed on their behalf by:
J. fvcfrDr.
Rod Cantrill
Trustee
Julia Proctor
Trustee
Date.. 07 May 2025
Page S

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 AUGUST 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE MILLINGTON ROAD
NURSERY SCHOOL TRUST ('the Charity.)
I report to the charity Trustees on my examination of the accounts of the Charty for the year ended 31 August
2024.
RESPONSIBILITIES AND BASIS OF REPORT
As the Trustees of the Charity (and rts 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 Act,).
Having satisfied myself that the accounts 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 accounts
carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act.). In carying out my examination I have
followed the Directions given by the Charity Commission under sects'on 145{5)(b) of the 2011 Act.
INDEPENDENT EXAMINER'S STATEMENT
Since the Charitls gross income exceeded £250,000 your examiner must be a member of a body listed in
Section 145 of the 2011 Act. I confimi that l am qualified to undertake the examination because l am a member
of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed rny examination. I confinn that no rnatters have come to my attention in connection with the
examination giving me cause to believe..
accounting records were not kept in resped of the Charity as required by section 386 of the 2006 Act,. or
the accounts do not accord with those records.. or
the accounts do not comply wrth the accounting requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of
an independent examination., or
the accounts have not been prepared in accordance WFth the methods and principles of the Statement of
Recommended Practice for accounting and reporting by chanties [8pplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of
Ireland {FRS 102)].
I have no concems and have come across no other matters in connection wrth the examination to which
attention shoukl 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 Charitvs Trustees, as a body. in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My V￿rk has been undertaken so that I might state to the Charity's
Trustees those rnatters l am required to state to them in an Independent Examinels Report and for no other
purpose. To the fullest extent pennitted by law, I do not accept or assume responsibility to anyone other than the
Charity and the Charity's Trustees as a body, for my work or for this report.
Signed..
Mrs K Bretherick FCA
Peters Elworthy & Moore, Chartered Arxountants, Cambridge
Dated..
Page 6

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES {INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
Restrlcted Unrestrlcted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
INCOME FROM:
Donations and legacies
Charitable activities
other trading activities
Investments
292
303,074
195
5,417
727
303,074
195
5,417
4.200
306.102
218
1,964
TOTAL INCOME
308,978
309,413
312,484
EXPENDITURE ON:
Charitable activities
435
302,005
302,440
305,590
TOTAL EXPENDITURE
435
302,005
302,440
305,590
NET MOVEMENT IN FUNDS
6,973
6,973
6,894
RECONCILIATION OF FUNDS:
Total funds brought forward
Net movement In funds
205,783
6,973
205,783
6,973
198,889
6,894
TOTAL FUNDS CARRIED FORWARD
212,756
212,756
205,783
The Statement of Financial Activrties includes all gains and losses recognised in the
year. The notes on pages 9 to 23 form part of these financial statements.
Page 7

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarantee)
REGISTERED NUMBER: 05364793
BALANCE SHEET
AS AT 31 AUGUST 2024
2024
2023
Note
FIXED ASSETS
Tangible assets
19,955
4,077
CURRENT ASSETS
Debtors
Cash at bank and in hand
12
27.600
272,153
258,005
263,282
299,753
Creditors.. amounts falling due wrthin one
year
13
(70,481)
{98,047)
NET CURRENT ASSETS
192,801
201,706
TOTAL NET ASSETS
212,756
20S,783
CHARITY FUNDS
Unrestricted funds
14
212,756
205,783
TOTAL FUNDS
212,756
205,783
The Chanty was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audti for the year In question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for compl￿ng wtth the requirements of the Act with respect to
accounting records and preparation of financial ststements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements V￿re approved and authorised for issue by the Trustees and signed on their behalf by".
Rod Cantrill
Treasurer
Date..
The notes on pages 9 to 23 form part of these financial statements.
Page 8

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
GENERAL INFORMATION
The Millington Road Nursery School Trust is a chantable company limited by guarantee and registered in
England and Wales. The registered officE and members of the Charity can be found on page 1. In the
event of the Charity being wound up, the liabilty in respect of the guarantee is limited to £1 per member of
the Charity.
The Chartys functional and presentskn'onal currency is GBP.
ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared in accordance wrth the Charities SORP (FRS 102) -
Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK
and Republic of Ireland (FRS 102) {effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Millington Road Nursery School Tnjst m&ts the definition of a publ￿ benefit entity under FRS
102. Assets and liabilrties are initially recognised at historical cosl or transaction value unless
Othe￿ISe stated in the relevant accounting policy.
There are no significant judgements and estimates made in applying the Charitls accounting
policies. There are no key assumptions or sources of estimation uncertainty that have a significant
risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year.
2.2 GOING CONCERN
The Trustees have reviewed the financial position of the Chanty and have a reasonable expectation
that the Charity has adequate resour￿5 to conts.nue in operational existence for the foreseeable
future.
There are no material uncertainties in relation to going concern.
Accordingly, the financial statements continue to be prepared on the going concem basis.
Page 9

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POLICIES (CONTINUED)
2.3 FUND ACCOUNTING
General funds are unrestrided funds which are available for use al the discretion of the Trustees in
furtherance of the general objedives of the Charrty and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are lo be used in accordan￿ with specrfic restrictions imposed by
donors or which have been raised by the Charty for particular purposes. The costs of raising and
administenng such funds are charged against the specific fund. The aim and use of each restncted
fund is set OLrt in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
2.4 INCOME
All income is recognised once the Charity has entitlement to the income, it is probable that the
income will be received and the amount of income receivable can be measured reliably.
Parent and third-paty fees are recognised in the period to which they relate, with any fees received in
advance being deferred.
Donations are recognised in the period in which they a￿ received.
Grants are recognised when the Charity has been notrfied in writing of both the amount and
settlement date. In the event that a grant is subject to conditions that require a level of performance
before the Charity is entitled to the funds, the income is deferred and not recognised until either those
conditions are fully met, or the fulfilment of those conditions is vtholly wrthin the control of the Charity
and rt is probable that those condrtions will be fu￿111ed in the reporting period.
2.5 EXPENDITURE
Expenditure is recc¥Jnised once there is a fegal or constructive obligation to transfer economic benefit
to a third party, rt is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably.
Expenditure is classffied by activty. The costs of each activty are made up of the total of direct costs
and shared costs, including support costs invofved in undertaking each activity. Direct costs
attributsble to a single activity are allocated directty to that activty.
Support costs including govemance costs are those costs incurred directly in support of expenditure
on the objects of the Chanty and include overheads incurred in the running of the Nursery.
Governance costs are those incurred in connection with administratson of the Charity and compliance
with constitutional and statutory requirements.
Expenditure on charitable activrties is incurred on directly undertaking the activities which further the
Charity's objectives. as well as any ass￿lated support costs.
Page 10

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
{A Company Limited by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POUCIES (CONTINUED)
2.5 EXPENDITURE (CONTINUED)
Grants payable are charged in the year when the offer is made except in those cases where the offer
is conditional, such grants being recognised as expendrture when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment. bLrt not accrued as expendrture.
All expenditure is inclusive of irrecoverable VAT.
2.6 INTEREST RECEIVABLE
Interest on funds held on deposrt is included when receivable and the amount can be measured
reliably by the Charity, this is nomially upon notification of the interest paid or Payab￿ by the
institution with whom the funds are deposited.
2.7 PENSIONS
The Charity operates a defined contribution pension scheme and the pension charge represents the
amounts payable by the Charity to the fund in respect of the year.
2.8 TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impaiment
losses. All costs incurred to bnng a tsngible fixed asset into rts Intended working condition should be
included in the measurement of cost.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment.
Depreciation Is provided at rates calculated to wrste off the cost of fixed assets, less their estimated
residual value, over their expected useful lives on the following bases..
Fixtures and ffttings
Leasehold property
200A reducing balance
130A straight line
2.9 DEBTORS
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 CASH AT BANK AND IN HAND
Cash at bank and in hand includes cash and short-tenn highly liquid investments with a short maturity
of three months or less from the date of acquisttion or opening of the deposit or similar account.
Page11

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POUCIES (CONTINUED}
2.11 LIABIUTIES AND PROVISIONS
Liabilrties are ￿CogniSed when there 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
of the settlement can be estimated reliably..
Liabilities are recognised at the amount that the Chanty anticipates rt wtll pay to settle the debt or the
amount it has received as advanced pa￿nentS for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where
the effect of the time value of money is material, the provision is based on the present value of those
amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Actiwties as a finance cost.
2.12 FINANCIAL INSTRUMENTS
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
INCOME FROM DONATIONS AND GRANTS
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
435
292
727
4,200
TOTAL 2023
20
4,180
4,200
Page 12

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FUNDRAISING INCOME
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Totsl
funds
2023
Fundraising
195
195
218
TOTAL 2023
218
218
INVESTMENT INCOME
Unrestrlcted
funds
2024
Total
fund8
2024
Total
funds
2023
Interest received
5,417
5,417
1,964
TOTAL 2023
1.964
1,964
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Fees received {from parents)
Funding towards fees
211,258
91,816
211,258
91,816
219,085
87,017
303.074
303,074
306,102
TOTAL 2023
306,102
306,102
Page 13

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES
Summary by fund type
Restrfcted Unrestrictsd
funds
funds
2024
2024
Total
2024
Total
2023
Charitable acttvrties
435
302,005
302,440
305,590
TOTAL 2023
20
305,570
305,590
ANALYSIS OF EXPENDITURE BY ACTMTIES
Actlvltles
undertaken
dlrectly
2024
Grnnt
fundlng of
actlvities
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
Charitable Activities
164,130
828
137,482
302,440
305,590
TOTAL 2023
154.309
5,368
145,913
305,590
Page 14

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
{A Company Limited by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF DIRECT COSTS
Total
funds
2024
Total
funds
2023
Staff costs
Supplies and consumables
General suppliers and play equipment
Computer software and support
Training costs
Child development costs
154,850
1,214
3,187
142,981
818
6,010
1,652
2,848
164,130
154,309
Page 15

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)
ANALYSIS OF SUPPORT COSTS
Totsl
funds
2024
Total
funds
2023
Staff costs
Accountancy fee (govemance)
Independent examiners fees (governance)
Legal and professional fees
Rent
Rates, water and insurance
Light and heat
Repairs and maintenance
Depreciation
Cleaning (contradors, materials)
Waste collection and landfill
Payroll fees
Telephone, postage, stats'onery and adverts'sin9
Computer sollware and support
Travel and Subsistence
Child development costs
Bookkeeping
62,766
2,841
735
11.540
17,799
3,450
6,646
10,905
2,475
7,045
2,274
617
3,982
2,939
1,469
65,392
2,600
700
438
18,386
4,696
7,325
24,427
1,076
7,659
1,938
457
3,965
4,344
2,198
259
53
137,482
145.913
ANALYSIS OF GRANTS
Grants to
Indivlduals
2024
Total
funds
2024
Total
funds
2023
Bursaries
828
828
5,368
TOTAL 2023
5,368
5,368
During the year, bursaries were granted to one individual (one individual).
Page 16

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guardntee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
10. STAFF COSTS
2024
2023
Wages and salaries
Social security costs
Contribution to defined contnbution pension schemes
202,244
6.216
9.156
194,608
5,461
8,304
217.616
208,373
The averag8 number of persons employed by the Charty during the year was as folluws..
2024
No.
2023
No.
Nursery staff
Administrative staff
11
11
13
13
The average headcount expressed as full-time equivalents was:
2024
No.
2023
Nursery staff
Administrative staff
No employee received remuneration amounting to more than £60,000 in either year.
The key management personnel of the chanty comprise the Trustees. Principal and Deputy Principal.
The Trustees all give their time and expertise without any kind of remuneration or other benefit in kind
(2023. £NIL).
During the year, no Trustees received any reimbursement of expenses or had expenses paid directly to a
third paty on their behalf (2023.. £NIL).
The total employTnent benefits of key management personnel including pension contributions and
employels national insurance was £71,597 {2023. £67.617).
Page 17

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
11. TANGIBLE FIXED ASSETS
Leasehold Fixtures and
property
fittlngs
Total
COST OR VALUATION
At 1 September 2023
Additions
19,342
17,200
13.219
1,153
32,561
18,353
At 31 August 2024
36,542
14,372
50,914
DEPRECIATION
At 1 September 2023
Charge for the year
17,369
1,977
11.115
498
28,484
2,475
At 31 August 2024
19.346
11,613
30,959
NET 8OOKVALUE
At 31 August 2024
17,196
2,759
19,955
At 31 August 2023
1,973
2,104
4,077
12. DEBTORS
2024
2023
Trade debtors
Prepayments and accrued income
365
4,912
19,885
7,715
5,277
27,600
Page 18

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
IA Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade creditors
Other taxation and social secunty
Other credrtors (including deposits)
Accruals and deferred income
2,121
1,620
33,031
33,709
7,049
1,742
16,838
72,418
70,481
98.047
2024
2023
Deferred income at 1 September 2023
Resources deferred during the year
Amounts released from previous periods
68,794
30,109
(68,794}
84,488
68.794
184,488)
30,109
68,794
Deferred income relates to nursery school fees received in advance for the Autumn temi.
Page 19

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. STATEMENT OF FUNDS
STATEMENT OF FUNDS- CURRENT YEAR
Balance at I
September
2023
Balance at
31 August
2024
Income Expendlture
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Children's fund
Maintenance fund
Building Improvement fund
Contractual commitments
Hardship fund
1,722
321
75,346
50,000
4,860
1,722
321
75,346
50,000
4,032
1828)
132.249
1828)
131,421
GENERAL FUNDS
General Funds - all funds
73.534
308,978
(301,1771
81,335
TOTAL UNRESTRICTED FUNDS
205,783
308,978
(302,005
212,756
RESTRICTED FUNDS
Fruit fund
435
1435
TOTAL OF FUNDS
205,783
309,413
(302,440)
212,756
Page 20

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
{A Company Limited by Guardntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. STATEMENT OF FUNDS (CONTINUED)
STATEMENT OF FUNDS - PRIOR YEAR
Balance at
1 September
2022
Balance at
31 August
2023
Income Expenditure
UNRESTRICTED FUNDS
DESIGNATED FUNDS
Children's fund
Maintenance fund
Building Improvement fund
Contr8Ctual commitments
Hardship fund
1.722
321
75,346
50,000
10,228
1,722
321
75,346
50.000
4,860
(5,368)
137,617
(5,368)
132,249
GENERAL FUNDS
General Funds
61,272
312,464
(300,202)
73,534
TOTAL UNRESTRICTED FUNDS
198,889
312,464
(305,570)
205,783
RESTRICTED FUNDS
Fruit fund
20
(20)
TOTAL OF FUNDS
198,889
312,484
(305,590)
205,783
Page 21

THE MILUNGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
14. STATEMENT OF FUNDS (CONTINUED)
Purpose of funds:
The designated funds represent sums set asKle by the Trustees for the following purposes..
Children's fund. To purchase g¢)ods and services that will directly benefit the Nursery children
Maintenance of the Nursery School prerDises
To provide for future building improvements
- To cover for notice on contractual commitments induding lease, employment and supplies
- To provide one-off support to parents in financial drfficulty
The Frurt fund is a restricted fund for the purchase of fruit and snacks.
Where expenditure from a designated or ￿$tricted fund exceeds the sum of the balance brought forward
and the income recognised, transfers are made from the General Fund (unrestricted) to cover the
excess.
15. ANALYSIS OF NET ASSETS BETWEEN FUNDS
ANALYSIS OF NET ASSETS BETWEEN FUNDS-CURRENT PERIOD
Unrestrlcted
funds
2024
Total
funds
2024
Tangible fixed assets
CUr￿n1 assets
Creditors due wrthin one year
19,955
263.282
(70,481)
19,955
263,282
(70,4811
TOTAL
212,756
212,756
ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR PERIOD
Unrestricted
funds
2023
Tot81
funds
2023
Tangible fixed assets
Current assets
Credrtors due within one year
4,077
299,753
(98,047)
4,077
299,753
198,047)
TOTAL
205,783
205,783
Page 22

THE MILLINGTON ROAD NURSERY SCHOOL TRUST
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
16. PENSION COMMITMENTS
The Charity operates a defined contribution pension scheme for certain employees. The Pension cost
charged to the Statement of Financial Activities during the year was £9,156 (2023.. £8,304). At the balance
sheet date there were outstanding contributions totalling £1,107 (2023: £1.088).
17. OPERATING LEASE COMMITMENTS
At 31 August 2024 the Charty had commrtments to make future minimum lease payments under non-
cancellable operating leases as follows..
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
18,000
33.830
18.000
51,830
51,830
69,830
The following lease payTnents have been rewnised as an expense in the Statement of Financial
Activities..
2024
2023
Operdting lease rentals
18,000
18.000
18. RELATED PARTY TRANSACTIONS
The Charity has not entered into any related paty transactions during the year, nor are there any
outstanding balances owing between related parties and the Charity at 31 August 2024 (2023.. no
transactions or balances).
Page 23