COMPANY REGISTRATION NUMBER: 05865642
CHARITY REGISTRATION NUMBER.. 1125005
Millom Stepping Stones
Company Limited by Guarantee
Unaudited Financial Statements
31 July 2024
Chartered accountants
Whitehaven

Millom Stepping Stones
Company Limited by Guarantee
Financial Statements
Year ended 31 July 2024
Trustees, annual report (incorporating the director's report)
Independent examiner's report to the trustees
Page
Statement of financial activities (includin8 income and expenditure account)
Statement of financial position
Notes to the financial statements
The following pages do not form part of the financlal statements
Detailed statement of financial activities
20
Notes to the detailed statement of financial activities
22

Millom Stepping Stones
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 July 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statement5 of the charity for the year ended 31 July 2024.
Strategic report
The following sections for achievements and performance and financial review form the strategic report
of the charity.
Achlevements and performance
The number of children attending remains high. The introduction of free hours from the Government for
2 year old children of working parents has increased our numbers considerably. We employ 24 members
of staff which includes 3 apprentices.
Financlal revlew
We have updated the playground used by the younger children with funds from fundraising and
donations received in the previous financial year. Staff wage rates increased according to the national
living wage and fees which parents pay increased in line with this. The increasin8 national living wage
continues to be quite difficult to cover. We continue to fundraise and have had a lot of support from
parents and local businesses.
Objectlves and actlvlties
The objects of the Pre-school are to enhance the development and education of children primarily under
statutory school age.

Millom Stepping Stones
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continuedj
Year ended 31 July 2024
Strurture. governance and management
Governln8 Document
Millom Stepping Stones is an independent registered charity (No: 1125005) and Company Limited by
Guarantee (No.. 058656421. It is governed by its Memorandum and Articles dated 4 July 2006.
The objects of the Pre-school I'the Objects l are to enhance the development and education of children
primarily under statutory school age by encouraging parents to understand and provide for the needs of
their children through community groups and by:_ 3.1 Offering appropriate play, education and care
facilities and trainin8 courses, together with the right of parents to take responsibility for and to become
involved in the activities of such groups, ensuring that such groups offer opportunities for all children
whatever their race, culture, religion, means or ability; 3.2 Encouraging the study of the needs of such
children and their families and promoting public interest in and recognition of such needs; 3.3 Instigating
and adhering to and ftsrtherin8 the aim5 and objects of the Pre-school Learning Alliance.
Trustee Inductlon and Tralnlng
New Trustees undergo induction into the organisation and undergo a CRB check.They are also
encouraged to attend training events, where appropriate. In addition, Trustees are also required to use
any specific knowledge or experience to help the Board reach sound decisions. This can include
scrutinising papers, leading discussions, focusing on key issues, providing advice and guidance on new
initiatives etc.
Rlsk Management
Risk assessments are completed on an ongoing basis.
Organisatlonal Structure
Day-to-day management of the organisation and the delivery of objectives are provided by the manager
under Supervision of the directors.
Related Partles
The charity works with Millom Infants, Parkview Nursery and Millom Childrens Centre.
Key mana8ement personnel remuneratlon
The trustees consider the Board of Trustees and the chief executive as comprising the key rnanagement
personnel of the charity in charge of directing and controlling the charity and running and operating the
charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid
in the year. Details of trustee expenses and related party transactions are disclosed in note 16 to the
accounts.
The pay of the charity's chief executive is reviewed annually and assessed in accordance with average
earnings. The remuneration is also bench-marked with charities of a similar size and activity to ensure
that the remuneration set is fair and not out of line with that generally paid for similar roles.

Millom Stepping Stones
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) Icontinuedj
Year ended 31 July 2024
Reference and adminlstrative detalls
Registered charlty name
Millom Stepping Stones
1125005
Charity reglstration number
Company registration number
05865642
Principal office and registered
office
St. Georges Road
Millom
LA18 4LE
Cumbria
The trustees
K A Bradley
Kjames
S Clarke
Company secretary
M.Tyson
Independent examlner
lan Scott BAlhonsl, FCA, DChA
Whitehaven
The trustees, annual report and the strategic report were approved on 8 April 2025 and signed on behalf
of the board of trustees by..
M.Tyson
Charity Secretary

Millom Stepping Stones
Company Limited by Guarantee
Independent Examlner's Report to the Trustees of Millom Stepplng Stones
Year ended 31 July 2024
I report to the trustees on my examination of the financial statements of Millom Stepping Stones I'the
charity'l for the year ended 31 July 2024.
Responsibilities and basis of report
As the trustees of the company land also its director5 for the purposes of company law} you are
responsible for the preparation of the financial statements in accordance with the requirements of the
Companies Act 20061'the 2006 Act,).
Having satisfied myself that the accounts of the company 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 as carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying
out my examination I have followed the Directions given by the Charity Commission under section
145(5llbl of the 2011 Art.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a
member of the Institute of Chartered Accountants in England and Wales {ICAEWI, which is one of the
listed bodies,
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:
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 sertion 396 of the
2006 Act other than any requirement that the accounts 8ive a 'true and fair, view which 15 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 accountin8 and reportin8 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.

Millom Stepping Stones
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Millom Stepping Stones (continuedj
Year ended 31 July 2024
I have no concerns and have come across no other matter5 in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
lan Scott BAlhons), FCA, DChA
Independent Examiner
Whitehaven

Millom Stepping Stones
Company Limited by Guarantee
Statement of Flnancial Artivities
(including income and expenditure account)
Year ended 31 July 2024
2024
Unrestricted
funds Total funds
2023
Total funds
Income and endowments
Donations and legacies
Charitable activities
Other trading activities
Investment income
Total Income
Note
180,433
220,685
443
4,480
180,433
220,685
443
4,480
150,958
193,664
1,154
1,464
406,041
406,041
Expenditure
Expenditure on charitable activities
Total expenditure
347,240
9,10
398,167
398.167
348,241
398,167
398.167
348,241
Net Income/(expenditure) and net movement in funds
7,874
7,874
11,ooii
Reconclliation of funds
Total funds brought forward
Total funds carried forward
213,981
213,981
214,982
221,855
221,855
The statement of financial activities Includes all gains and losses recognised in the year.
All income and expenditure derive from continuin8 activities.
213,981
The note5 on pages 9 to 18 form part of these financial statements.

Millom Stepping Stones
Company Limited by Guarantee
Statement of Financial Position
31 July 2024
2024
2023
Fixed assets
Tan8ible fixed assets
Note
16
12,396
5,664
Current assets
Debtors
Cash at bank and in hand
17
334
214,621
411
210,167
214,955
210,578
Creditors: amounts fallin8 due wlthin one year
Net current assets
Total assets less current liabllltles
Net assets
18
5,496
2,261
209,459
208,317
221,855
213,981
221,855
213,981
Funds of the charity
Unrestricted funds
Total char5ty funds
221,855
213,981
20
221.855
213,981
For the year endln8 31 July 2024 the charity was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its financial statements for the
vear in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with
respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
The statement of financial position
continues on the following page.
The notes on pages 9 to 18 form part of these financial statements.

Millom Stepping Stones
Company Limited by Guarantee
Statement of Financial Position (tontlnuedj
31 July 2024
These financial statements were approved by the board of trustees and authorised for issue on 8 April
2025, and are signed on behalf of the board by:
g T(tho3
K James
Trustee
The notes on pages 9 to 18 form part o* these financial statements.

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 July 2024
General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the registered
office is St. Georges Road, Millom, LA18 4LE, Cumbria.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 Icharities SORP
IFRS 102)) and the Companies Act 2006.
Accountln8 policles
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Goin8 concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The charity has taken advantage of the disclosure exemptions permitted by the Charities SORP 2015
IFRS1021 regarding the inclusion of a Statement of Cashflows as the Charity is a small charity as
def ined in Update Bulletin l of the Charities SORP IFR5102).

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements fcontlnuèdj
Year ended 31 July 2024
Accountin8 pollcies ittyitlnuedj
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates and judgements are continually
reviewed and are based on experience and other factors, including expectations of future events
that are believed to be reasonable under the circumstances.
Sl8nificant judgements
The directors consider there were no significant judgements in preparing the financial statements.
Key sources of estimatlon uncertainty
Accounting estimates and assumptions are made concernin8 the future and, by their nature, will
rarely equal the related actual outcome. The directors consider there are no key sources of
estimation uncertaintv.
Cash at bank and In hand
Cash at bank and cash in hand Includes cash and short term highly liquid investments with a short
maturlty of three months or less f rom the date of acquisition or opening of the deposit or similar
account (other than those for investment purposes).
Fund accountln8
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restritted funds are subjected to restrictions on their expenditure declared by the donor or through
the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment
funds.
-io-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statementslcontintsedj
Year ended 31 July 2024
Accounting policies (contlnued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity,. it 15 probable that the economic benef its associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income:
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical
to measure reliably, in which case the value is derived from the cost to the donor or the
estimated resale value. Donated facilities and services are recognised in the accounts when
received if the value can be reliably measured. No amounts are included for the contribution
of general volunteers.
income from contracts for the supply of seNices is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case it
may be regarded as restricted.
Resources expended
Expenditure is reco8nised on an accruals basis as a liability is incurred. Expenditure includes any VAT
which cannot be fully recovered, and is classified under headings of the statement of financial
activities to which it relates:
expenditure on raising funds includes the costs of all fundraising activities, events, non-
charitable tradin8 activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aim5 for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities,
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justif iable and consistent basis.
li-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 31 July 2024
Accounting pollcies {contlnuedJ
Tangible assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value,
over the useful economic life of that asset as follows:
Short leasehold property
Equipment
14% strai8ht line
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reportin8 date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to
which the asset belongs. The cash-generating unit is the smallest identif iable group of assets that
includes the asset and generates cash inflows that lar8ely independent of the cash inflows from
other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity are
assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any
related transartion costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration
expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
-12-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements {contlnuedJ
Year ended 31 July 2024
Accounting policies (contlnuedj
Financial Instruments Icontlntsedj
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with chan8es in fair value recognised
in income and expenditure. All other such investments are subsequently measured at cost less
impairment.
Other financial instruments, including derivatives. are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest that
is not a market rate, in which case the asset Is measured at the present value of the future
payments dlscounted at a market rate of interest for a similar debt instrument,
Other financial instruments are subsequently measured at fair value, with any changes recognised in
the statement of financial activities, With the exception of hedging instruments in a designated
hed8ing relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of
impairment at the end of each reporting date. If there is objective evidence of impairment, an
irnpairment loss is recognised under the appropriate heading in the statement of financial activities
in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either assessed
individually or grouped on the basis of similar credit risk characteristics,
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would have
been had the impairment not previously been recognised.
Deflned contrlbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which the
related Service is provided. Prepaid contributions are recognised as an asset to the extent that the
prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reportin8 date in which the employees render the related service, the liability is measured on
discounted present value basis. The unwinding of the discount is recognised as an expense in the
period in which it arises.
Limlted by guarantee
The company is limited by guarantee and the members of the company are liable for no more than
£1 each should the company's assets be wound up.
13-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial StatementS(continuedl
Year ended 31 July 2024
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Grants
Cumbria County Council
Other grant income
165,433
15,000
165,433
15,000
135,458
15,500
135,458
15,500
180,433
180,433
150,958
150,958
Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Pre-school Fees
220,685
220,685
193,664
193,664
Other tradin8 actlvitles
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising events
443
443
1,154
1,154
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Bank interest receivable
4,480
4,480
1,464
1,464
-14-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinued}
Year ended 31 July 2024
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Activity type I
Support Costs
334,800
63,367
334,800
63,367
398,167
398,167
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Activity type I
Support costs
261,452
53,650
33,139
294,S91
53,650
315,102
33,139
348,241
10. Expendlture on charitable activlties by activity type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Activity type I
Governance costs
334,800
62,202
1,165
397,002
1.165
347,113
1,128
334,800
63,367
398.167
348,241
11. Analysls of support costs
Analysis of
support costs
activity I
Total 2024
Total 2023
Staff costs
Premises
Governance costs
58,505
3,697
1.165
58.505
3.697
1.165
49,146
3,376
1,128
63,367
63,367
53,650
12. Net in¢ome/(expenditurel
Net income/lexpenditurel is stated after charging/lcreditingl:
2024
2023
Depreciation of tangible fixed assets
3,617
35,971
-15-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements Icontinued)
Year ended 31 July 2024
13. Independent examinatlon fees
2024
2023
Fees payable to the independent examiner for..
Independent examination of the f inancial statements
1.134
1,104
14. Staff costs
The total staff cost5 and employee benefits for the reporting period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
Other employee benefits
301,446
13,970
4,751
3,488
239.241
4,837
3,366
2,175
323,655
249,619
The average head count of employees during the year was 2412023.. 231. The average number of
full-time equivalent employees during the year is analysed as follows:
2024
No.
2023
No.
Number of direct charitable staff
Number of management and administration staff
22
21
24
23
No employee received employee beneflts of more than £60,000 during the year12023.' Nill.
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.
16-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements Icontlnuedl
Year ended 31 July 2024
16. Tangible fixed assets
Land and
buildin8S
Equipment
Total
Cost
At l August 2023
Additions
231,973
20,208
10,349
252,181
10,349
At 31 July 2024
231,973
30,557
262,530
Depreclatlon
At I Au8USt 2023
Charge for the year
At 31 July 2024
231,973
14,544
3,617
246,517
3,617
231,973
18,161
250,134
Carrylng amount
At 31July 2024
12,396
12,396
At 31 July 2023
5,664
5,664
17. Debtors
2024
2023
Prepayments and accrued income
334
411
18. Credltors: amounts falllng due withln one year
2024
2023
Accruals and deferred income
Social securlty and other taxes
2,950
2,546
2,261
5,496
2,261
19. Pensions and other post retlrement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution
plans was £4,75112023'. £3,366>.
-17-

Millom Stepping Stones
Company Limited by Guarantee
Notes to the Financial Statements fcontinuedj
Year ended 31 July 2024
20. Analysls of charitable fund5
Unrestrlcted funds
At
I Au8USt 2023
At
Income Expenditure 31 July 2024
General funds
213.981
406,041
1398,1671
221,855
At
l August 2022
At
Income Expenditure 31 July 2023
General funds
181,843
347,240
1315,1021
213,981
21. Analysls of net assets between funds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than l year
12,396
214,955
15.4961
12,396
214,955
(5,496)
Net assets
221,855
221,855
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than l year
5,664
210,578
12,2611
5,664
210,578
12,2611
Net assets
213,981
213,981
18-