REGIERED COMPANY NUMBER: 06398420 (England and Wales) REGISTERED CHARrrY NUMBER: 1126801 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 FOR WEST WIGFrr NURSERY Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 5BZ
WEST WIGHT NURSERY CONTEpifs OF THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 ocfoBER 2024 Page Reference and Administrative Detalls Report of the Trustees Independent Examiner's Report Statement of Financial Actlvlties Balance Sheet Notes to the Flnanclal Statements 9 to 14 Detailed Statement of financlal Artlvfties 15 to 16
WEST WIGTrrr NURSERY REFERENC£ AND ADMINISTRATIVE DAlLs FOR THE YEAR ENDED 31 ocfoBER 2024 TruEs Mr J Howe Mrs S Richards Miss M C Millard Mrs E Penstone-smith Mr L J Brett-Hill COMPANY SECREfARY Mrs S Richards REGISTERED OFFICE Summers Lane Totland Isle of Wight P039 OHQ REGISTERED COMPANY NUMBER 06398420 IEn8land and Wales} REGISTERED CHARITY NUMBER 1126801 INDEPENDEKf EXAMINER Bright Brown Limited Chartered Accountants Exchange House St. Cross Lane Newport Isle of Wight P030 58Z BANKERS The cOperative Bank plc Page I
WEST WIGHT NURSERY IREGISfERED NUMBER: 063984201 REPORT OF THE TRUStEES FOR THE YEAR ENDED 31 ¢xfoBER 2024 The trustees who are also directors of the charity for the purposes of the Companies Art 2006, present their report with the financial statements of the charity for the year ended 31 October 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Prartice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 2019). QBJEcfivES AND AcnvmES Objertives and alms The principal activity of the tompany is the provision of nursery care and education for babies and pre-school infants and the provision and promotion of claeS, lectures, facilities, services and resources for educating and furthering the edutation of children and adults of all ages and abilities. Publlc beneflt All the activities of the charity focus on delivering community benefit and are In accordan with the objects of the charity. The trustees have complied with their duty to have due regard to the Charity Commission's public benefit guidance when exercising any powers or duties to which the guidance is relevant. ACHIEVEMENT AND PERFORMANCE The past year has seen numbers of children attendin8 remain quite consistent and staffing remain quite high re: ratlo's. We have malntained an amount in the IT account of around £8.000 during the past year in the hopes of transferring it to the CCL4 account once we determlned it was not needed to see us through December 2023 or Summer 2024. Totland Parlsh Council have generously donated £5.0(J) in April 2024 again this financial year unrestrirted and continue covering the Cost of our grass cutting which amounts to around £800 a year. The coop made a donation of £1,500 from their share to care fvnd again unrestricted and we have benefited from a partnership with them in the past through varlous schemes. Our apprentices of which we had two Level S's, one Level 3 and a Level 2 did not bring us an income as they are older candidates no on a young persons apprenticeship scheme. In total we have employed an average of 23 staff this year; that it our Administrator. site Manager, 2 part time cleaners, Manager and 18 Room Staff. There has been some staff turnover hence training of new staff. Once agaln as part of the Governments endeavours to provide for vulnerable families the Nursery has benefited from a HAF holiday funding programme over the past Easter 2024 and Summer 2024 holidays periods.This ha5 certainly helped us sustain ourselves during what 15 usually the hardest part of our year. August when our families often withdraw for parts of the summer and we lose our Nursery grant funded children. The grant provided 10 places 5 days a week for 5 weeks over the summer, paying for breakfast, lunch and activity places for disadvantaged children. Thankfully we had even more than that so gained an additional blt of funding. We are noticing an improvement through this year in summer 2024 holiday attendance from our school users which benefited us also in the summer. We used less of the sports centre l.e. swimmin8 only but made use of the beach. copse and local parks as well the school PE coach to provide activities this year with themed weeks around beach clean up and sustainability, water weeks. and copse weeks. We also hired the delivery of Roller Skating each week in the school hall during HAF Summer sessions and a Go Ride week with instructors. The weeks were well attended by not only our on site school but a number of other local school children. not only HAF kids. We also made use of the school chef two days a week overthe summer who then provided 3 of the 5 meals a week and did cooking with the children as well, as an activtty. Part of the remit is healthy eating habits. Page 2
WEST WIGirr NURSERY (REGISTERED NUMBER: 06398420) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 ocfoBER 2024 Numbers have remained steady and this had helped us remain sustainable. The baby room and 2 year old spaces continue to be in demand especialty with the introduttion of 15 hours funding in April for 2 year olds in 2024 and 9 month old's in September 2024. This 15 for working families at a rate that 15 higher than our own fees finally. We ontinue to work with the on site school to create opportunitie5 that will mutually benefit us. However, they no longer rent one of the upstairs rooms due to their own economic constraints. The team remains focused under the guidance of the manager who continues to maintain the high expectation5 that awarded us an outstanding grade from Ofsted in 2022. The Trustees have continued to meet every few months to review policies and finances. John Howe remains Chair and Sylvia Richards Secretary and all continue to support both the Manger and her Staff Team in their roles. As well as maintaining the integrity and safety of the business and the site. Our additional Trustees Lester Brett-Hill and Ellen Penstonfrsmith - our parent contingent of the Trustees continue to contribute where they can. All continue to source funding in any way we can to sustain not only the operation of the business but new projects that will continue to benefrt our community. Toddler group continues to run out of the Family Centre locaify which benefits the business in attracting new famllles to the site and maklng us accessible to the wider community. We are immensely grateful for the staff who work so exceptionally hard to ensure our Nursery remains a firm favorite in the community with the high standard of provision they offer. Without a team like ours no matter what resources we have this would not be possible and we, theTrustees, would like to acknowledge thatl Staff continue to undertake tr31ning through the Local Authority and Apprenticeship schemes. The Manager continues to facilitate the wellbeing of the team through regular appraisals. supervision, peer mentoring, training. Policies and these efforts continue to ensure a healthy, happy. safe work place for all. We are pleased to continue offering not only childcare services, but to the local community a place that Ofsted has recognised ensures "The manager's and staffs shared vision for children's learning is implemented seamlessly throughout the nursery. All staff have an eXlIent understanding of how children learn. FINANCIAL REVIEW Financial position Total income for the period amounted to £376,476 12023: £335.7351. Costs of charitable activities amounted to £366.84112023: £336.1271. Unrestricted and restricted funds carried forward at the end of the year amounted to £33.444 and £NIL respectively12023: £22,309 and £NIL) Investment poltcy and objectives The council of management have the power to invest in such assets as they see fit. Reserves policy It is the policy of the charity to maintain free reserves, which are the unrestrirted funds of the charity, excluding those used to purchase fixed assets, at a level as to provide sufficient funds to cover operating costs in the short term and to respond to situations arising throughout the year. At the end of the reportin8 peri¢xl. total funds held are £33,444 {2023- £22,309), which includes £NIL12023: £NIL) restricted funds and £9,154 (2023: £10.1821 fixed assets, leaving a free reseNes surplus of £24,290 {2023: £ 12,1271. Page 3
WEsf WIGHT NURSERY (REfjlSfERED NUMBER." 06398420) REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 OOBER 2024 sTrucruRE, GOVERNAhlCE AND MANAGEMEI Governing document The charity is controlled by its governing document, its Memorandum and Artides of Association. and constitutes a limited company, limited by guarantee. as defined by the Companies Art 2006. The charity was incorporated on 15 October 2017 and commenced operating on l November 2008. Membersguarantee, if the charity is dissolved while they are a member or within twelve months of them ceasing to be a member. to pay £10 towards the payment of the debts and liabilities of the company incurred before they ceased to be a member. Recruitment and appointment of new trustees The trustees. who have served during the year, and since the year end, are set out on page 2 of the accounts. Trustees are appointed by the board of trustees and must retire at the next annual general meetin& when they may put themselves forward for reappointment. The trustees retire by rotation. The Board has the responsibility for establishing policy. Delivery of these policy decisiOThS is the responsibility of the Board and the Committee members. Risk mana8ement The charity has carried out a risk review to confinn that systems have been established in order that the necessary steps can be taken to reduce these risks. Approved by order 9f the board of trustees on .... . and signed on its behalf by". Mrj Howe-Trustee Page 4
INDEPENDENT EXAMINER'S REPORTTOTHETRUStEES OF WES[ WlGTrTh NURSERY (REGISTERED NUMBER: 06398420) Independent examiner's report to the trustees of West Wight Nursery ('the CompanV} I report to the charlty trustees on my examination of the accounts of the Company for the year ended 31 Ottober 2024. Responsibilities and basls of report As the charity's trustees of the Company land also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 2006 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 respett of my examination of your charity's accounts as carried out under Sertion 145 of the Charities Act 2011 {'the 2011 Att'l. In carrying out my examination I have followed the Directions given by the Charity Commisslon undersertion 145{5) {bl of the 2011 Act. Independent examiner's statement Since your Charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that l am qualified to undertake the examination beouse l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodie5. I have completed my examination. I confim) that no matters have come to my attentlon in connection with the examination givlng me cause to believe- accountlng records were not kept in respect of the Company as required by Section 386 of the 2006 Att,. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of Settion 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 accounts have not been prepared in accordance with the methods and princlples of the Statement of Recommended Practice for accounting and reportin8 by charlties (applicable to charities preparing their accounts In accordance with the Financial Reportin8 Standard applicable In the UK and Republic of Ireland IFRS 102)). I have no concerns and have come across no other matters in connertion 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. G Kelly The Institute of Chartered Accountants in England and Wales Bright Brown Limited Isle of Wight Page 5
WEST WIGTrrr NURSERY STATEMENT OF FINANCIALAcnvmES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 ocfoBER 2024 2024 Total funds 2023 Total funds Unrestritted fund Restricted funds Notes INCOME AND ENDOWMENT5 FROM Donations and legacies 212,935 1,500 214,435 164,839 Charitable activities Nursery 159.934 159.934 166,363 Other trading activities Investment income 3,600 4,485 48 Total 376,476 1.500 377,976 335,735 EXPENDITURE ON Charitsble activities Nursery 365,341 1,500 366.841 336.127 NET INCOME/IEXPENDrruRE) 11,135 11,135 {3921 RECONCIUATION OF FUNDS Total funds brought forward 22,309 22,309 22,701 TOTAL FUNDS CARRIED FORWARD 33,444 33,444 22,309 The note5 form part of these financial statements Page 6
WEST w16P NURSERY (REG15fERED NUMBER: 06398420) BALANCE SHEEr 31 OCTOBER 2024 2024 2023 Notes FIXED ASSErs Tangible assets 9.154 10,182 CuRREr A$ss Debtors Cash at bank and in hand 9.558 50,028 10,360 33.859 59,586 44,219 CREDITORS Amounts falling due within one year io 135,296} 132,092) NET CURRENT ASSETS 24,290 12,127 TOTAL ASSEfs LESS CURREKf UABILMES 33,444 22,309 NEf ASSErs 33,444 22,309 FUNDS Unrestricted funds 12 33,444 22,309 TOTAL FUNDS 33,444 22,309 The charitable company Is entltled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Settion 476 of the Companies Art 2006. The trustees a¢knowled8e their responsibilities for la) ensuring that the charitable company keeps accounting records that comply with Settions 386 and 387 of the Companies Act 2006 and preparing financial statements whlch give a true and fair view of the State of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, $0 far as applicable to the charitable company. (bl The notes fomi part of these financial statements Page 7 continued...
WEsf WI6Tr NURSERY (REGISTERED NUMBER: 06398420} BALANCE SHEET- continued 31 00BER 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial. statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: Mr J Howe - Trustee The notes form part of these financial statements Page 8
WIGTrrr NURSERY NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 ocfoBER 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities- Statement of Recommended Prattice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financi315tatements have been prepared under the historical cost convention. Income All income is recognised In the Statement of Financial Artivities once the charity has entitlement to the funds, it Is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the harity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure 15 accounted for on an accruals basis and has been classified under headines that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tan8ible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated usefvl life. Plant and machinery Computer equipment Straight line over 10 years Strai8ht line over 4 years Taxation The charity is exempt from corporation tax on its charltable activities. Fund accountlng Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the note5 to the financial statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are char8ed to the Statement of Financial Activities in the period to which they relate. Page 9 continued...
WEST WIGkrr NURSERY NOTES TO THE FINANCIAL STATEMEprrs- tontlnued FOR THE YEAR ENDED 31 OCTOBER 2024 OThER TrADING AcrivrriES 2024 2023 Room hire 3.600 4,485 INVESTMEPTh INCOME 2024 2023 Interest received 48 NEf INCOME/(EXPENDITURE) Net incomel(expenditurel Is stated after charginFJ(crediting): 2024 2023 Depreciation - owned assets 1.966 1,851 TRusfEES' REMUNERATION ANO BENEFITS There were no trustees, remuneration or other benefrts for the year ended 31 Ottober 2024 nor for the year ended 31 Ottober 2023. Trustees, expenses There were no trustees, expenses paid for the year ended 31 October 2024 nor for the year ended 31 Ottober 2023. STAFF COSTS The average monthly number of employees during the yearwas as follows: 2024 18 2023 16 Nursery practitioners Site manager/cleaner Administration Manager 23 22 No employees received emoluments in excess of £60,000. Page 10 continued...
WEST WIGHT NURSERY NOTES TO THE FINANCIAL sfATEMENTS- continuèd FOR THE YEAR ENDED 310CTOBER 2024 COMPARATIVES FOR THE ATEMENT OF FINANCIAL AcnvrriES Unrestrirted fund Restrirted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 163.214 1,625 164.839 Charitable artivities Nursery 166.363 166.363 Other tradin8 activities Investment income 4.485 48 4,485 48 Total 334,110 1,625 335,735 EXPENDITURE ON Charitsble activities Nursery 334,502 1.625 336,127 NEf INCOME/(EXPENDrruRE) 13921 1392) RECONCIUATION OF FUNDS Total funds brought forward 22,701 22,701 TOTAL FUND5 CARRIED FORWARD 22,309 22,309 TANGIBLE FIXED ASSErs Plant and machinery Computer equipment Totals COST At l November 2023 Additions 16.298 804 3,446 134 19,744 938 At 31 Ottober 2024 17,102 3.580 20,682 DEPRECIATION At l November 2023 Charge for year 6,938 1.658 2,624 308 9,562 1.966 At 31 October 2024 8,596 2,932 11.528 BOOK VALUE At 31 October 2024 8.506 9,154 At 31 October 2023 9.360 822 10,182 Page 11 continued...
WESTWIGHT NURSERY NOTES TO THE FINANCIAL ATEmENTS- continued FOR THE YEAR ENDED 31 ocfoBER 2024 DEBTORS: AMOUNTS FALLING DUE WtrHIN ONE YEAR 2024 2023 Trade debtors Prepayments and accrued income 4.784 4.774 6.708 3,652 9.558 10,360 io. CREDITORS; Amoumfs FAWNG DUE wrrHIN ONE YEAR 2024 2023 Trade creditors Social security and other taxes Other creditors Accrued expenses 4,983 1.697 26,448 2.168 5,895 2.807 21.624 1,766 35,296 32,092 ii. ANALYSIS OF NET ASSEfs BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrestricted fund Restricted funds Fixed assets Current assets Current liabilitles 9,154 59.S86 (35.296) 9,154 59.586 {35,2961 10,182 44,219 {32,092) 33,444 33.444 22,309 MOVEMENT IN FUNDS Net movement In funds At 1.11.23 At 31.10.24 Unrestrlcted funds General fund 22.309 11,135 33,444 TOTAL FUNDS 22,309 11,135 33,444 Page 12 continued...
WEST WIGHT NURSERY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 OCTOBER 2024 12. MOVEMENT IN FUNDS- continued Net movement in funds. included in the above are as follows: Incoming resources Resource5 expended Movement in funds Unrestricted funds General fund 376.476 1365,3411 11,135 Restricted funds Holiday Club 1.500 11.5001 TOTAL FUNDS 377,976 (366.841) 11,135 ComparatNes for movement in funds Net movement in funds At 1.11.22 At 31.10,23 Unrestricted funds General fund 22.701 13921 22,309 TOTAL FUNDS 22,701 1392} 22,309 Comparative net movement in fvnds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 334,110 1334,5021 (392) Restricted fvnds Holiday Club Ukranian Teacher 500 1,125 (500) 11.125) 1,625 {1,6251 TOTAL FUNDS 335,735 1336,127} {3921 Page 13 continued...
WEST WIGHT NURSERY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 IXTOBER 2024 13. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 October 2024. GOING CONCERN As usual the charity holds deferred income, this year amounting to £25.654, which is not shown as income. but will not be repaid and will be reported a5 income in the new year. Predicted attendance into the new year remains good, and as such the trustees feel the charity is in a position to generate sufficient Cash to meet its obligations as they fall due for a period of at least 12 months from the date of signing these financial statements. As such the trustees are satisfied that the charity has adequate resources to continue to operate for the foreseeable future, and for thi5 reason they continue to adopt the going concern basis for preparing these financi31 statements. Page 14
WEST WIGtrff NURSERY DEfAILED STATEMEp¥f OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 OCTOBER 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations and grants 214.435 164,839 Other tradlng attivities Room hire 3,600 4.485 Investment Income Interest received Charltable activities Miscellaneous income Nursery income 144 159,790 178 166,185 159.934 166,363 Total incomlng resour¢es 377,976 335.735 EXPENDMJRE Charitable activities Wages Pensions Rates and water Insurance Light and heat Telephone and internet Postage and stationery Activitles Travel Repairs and renewals Staff training Subscription5 Purchases Food Vouchers Depreciation of tangible fixed a55ets Bank interest 293.817 10,348 4,551 3.935 14.554 3,209 12 5.474 35 6.295 707 2.375 15,062 269,439 10.177 8,559 3,309 14,223 4,029 33 4,196 102 4.092 1,349 1,676 9,125 173 1,852 1,018 1,966 1,054 363.394 333,352 Support costs Governan costs Independent examiner's fees Carried forward 1,941 1,941 1,837 1,837 This page doe5 not form part of the statutory financial statements Page 15
WEST WIGHT NURSERY DEfAILED sfATEMENT OF FINANCIAL AcnvmES FOR THE YEAR ENDED 31 ocfoBER 2024 2024 2023 Governance costs Brought forward Payroll 1,941 1,506 1,837 938 3,447 2,775 Total resources expended 366.841 336,127 Net income/(expenditure) 11,135 {392) This page does not form part of the statutory financial statements Page 16