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> REGISTERED REGISTERED COMPANY COMPANY NUMBER: NUMBER: 06871339[06871339] (England[(England] and[and] Wales)[Wales)] REGISTERED REGISTERED CHARITY CHARITY NUMBER: NUMBER: 1130042[1130042]
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Report Report of or the[the] Trustees Trustees and and Unaudited Unaudited Financial Financial Statements Statements for for the Year Year Ended[Ended] 31[31] March March 2024[2()24]
ror for
Opportunities Opportunities[for] for Adventure,[Adventure,] Knowledge Knowledge and and Skills Skills Ltd Ltd (a[(n] company company limited[limited] by by guarantee) guarantee)
dyke Ruscoe Lid Corve Strect Ludlow ROPSTURE SY8 IDI
Streets Dyke Ruscoe[Ltd] 1 Corvc Strect Ludlow SHROPSHIRE SY8 IDJ
Opportunities Opportunities[for] for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Ltd (a (a company company limited[limited] by by guarantee) guarantee)
Contents Contents[of] of the[the] Financial Financial Statements[Statements] for for the the Year Year Ended Ended 31 31 March March 2024 2024
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Report Report of [of] the the Trustees Trustees I L to t 9 7
Independent Independent Examiner's Examiner's Report Report 8 8
Statement of Statement of Financial Financial Activities Activities 9 9
Balance Balance Sheet Sheet 10 10 to to 1) 11
Notes Notes to [to] the [the] Financial Financial Statements Statements 12 12 to to 19 19
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Opportunities Opportunities ror for Adventure, Adventure,[Knowledge] Knowledge and and Skills Skills Lid Lid (a[(a] company company limited[limited][by] by guarantee) guarantee)
> Report Report of or the[the] Trustees Trustees for for the the Year Year Ended Ended 31[31] March March 2024 2024
> 'The The trustees trustces who who are arc also also directors directors of of the the.' charily charity for Ibr the the purposes purposes of the the Companies Companies Act Act 2006, 2006, present present their their report report with with the the financial financial statements statements or of the the charity charity for for thc the year year ended endcd 31 31 March March 2024. 2()24. The Thc trustees trustees have have adopted adopted the the provisions provisions of of
> Accounting Accounting and and[Reporting] Reporting by by Charities: Charities: Statement Statement of of Recommended Recommended Practice Practice applicable applicable to to charities charities preparing preparing their their accounts accounts in[in] accordance[accordance][With] with the[the] Financial[Financial] Reporting Reporting Standard[Standard] applicable[applicable] in[in] the[the] UK UK and[and] Republic[Republic] of[of] Ireland[ Ireland] (FRS[(FRS] 102) 102) (c(Tcciivc (effective[I] | January[January] 2019).[2019).]
OBJECTIVES OBJECTIVES AND AND ACTIVITIES ACTIVITIES Objectives ()bjcctives and and aims aims
To TO provide[provide] the[the] necessary necessary fhcilities facilities[for] for the[the] daily daily care, care, recreation recreation and and education[education][for] for children. children. Thc The relief[relief][ ofchildren] of children[with] with special special needs needs and and their their carers carers by by the[the] provision provision of[ofeducational] educational and and play play facilities, facilities, carer carer support support and and information. information. To To advance[advance] the[lhe][knowledge] knowledge and[and] education[education][of] of the[ the] public public[in] in matiers mailers[relating] relating[to] to childcare[childcare] and[and] parenting.[parenting.]
> Public Public benefit benefit
> The The trustees[trustees] have have had had regard regard to[to] the[the] Charity[Charity] Commission's Commission's guidance guidance on on public public benefit benefit and and provide[provide] support, support, education[education] and and
> play play for[Ibr] children children giving giving them them an an opportunity opportunity to to achieve achicvc their[thcir] potential potential and and to to succeed. succeed. They They provide provide support support to to local local lhmilies families enabling[enabling] them[them][to] to have[have] an[an] opportunity[opportunity] to[to] provide[providc] the[the] education[education] and[and] play[play] that[that] their[their][family] family needs.[needs.]
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## Opportunities Opportunities for[for] Adventure, Adventure, Knowledge Knowledge and Skills Ltd (a limited by and Skills Ltd (a company company limited by guarantee) guarantee)
Report Report of of the[the] Trustees Trustees for for the the Year Year Ended Ended 31 31 March March 2024 2024
## ACHIEVEMENT ACHIEVEMENT AND AND PERFORMANCE[PERFORMANCE] Charitable Charitable activities activities Achievement Achievement and and performance performance
> The The start start to[to] our our financial financial year year saw saw significant significant changes vhanges to to the[the] inspection inspection framework framework for[for] early early years years and and changes changes to to our our statutory statutory document document[for] for nursery nursery The The Early Early Years Years Foundation Foundation Stage. Stage. As As a[a][relatively] relatively new new team team[following] following retirements[retirements] and and maternity maternity leave, leave, we we had[had][a] a[period] period of of intense intense learning learning for for the the whole whole team team to to regain regain our our high high standards standards of of care care and and education, education.
## The The main main achievements achievements of orthe the charity charity include: include:
The The[continuing] continuing provision[provision] of[of] support, support, education[education] and and play play within within the[the] childcare childcare facilities facilities at[at] Coningsby Coningsby Road, Road, Leominster: Leominster: - - Honey Honey Bees Bees Day Day Nursery Nursery - - OAKS OAKS Holiday Holiday Club Club - - Forest Forest school school sessions sessions - Parent and Child - Parent and Child group group - - Support Support for for children children with with Special Special Education Education Need Need and and Disabilities Disabilities ~ - Continuing Continuing to to support support the the 'Holiday 'Holiday Food Food and and Activity' Activity' (IIAF) (HAF) Scheme Scheme for for children children in in receipt receipt of of free free school school meals. meals. - - Supporting Supporting Family Family Fridays Fridays and and Breakfast Breakfast Saturdays Saturdays (funded (fUnded by by the the Household Household Support Support Grant Grant and and Leominster Leominster Town Town council), council), providing[providing][a] a warm warm space space[{Or] for families,[families,] crafts,[crafts,] outdoor[outdoor] play[play] and[and][hot] hot food,[IOod.]
This This[financial] financial year year we we have have again again been been privileged privileged to to continue continue to to be be part part the[the] national national Holiday, Holiday, Food Food and and Activity Activity Scheme Scheme (HAF). (HAF). This This is is intended intended to to support support children children in in receipt[receipt] of of free free school school meals meals during during the[the] school school holidays, holidays, across across the the county county to to access; access;
> - - healthy healthy food. food.
> - - to to be be active. active. ~ - to to take take part part in[in][enriching] enriching activities. activities.
- - build build social social contacts. contacts.
~- - build build families families understanding understanding of of health health and and nutrition. nutrition, - - as as well well as as signposting signposting families fanulies to to other other services services as as required required such such as as health, health, education education or or employment. employment.
This This project project has has continued continued to to complement complement our our holiday holiday club club provision provision by by providing providing an an inclusive inclusive environment environtuent for[for] all all children children regardless regardless of of background background or or disability. disability,
> We We[have] have also[also] been been able[able] to[to] support[support] families[families] through[through] the[the] winter winter with[with] a a Winter Winter of of Wellbeing Wellbeing grant grant via[via] Herefordshire Herefordshire Council's Council's Household Household Support Support fund[fund][iiinded] funded by by the Ihe department department[of] of Work Work and and pensions. pensions. Alongside Alongside a a grant[grant] from from Leominster Leominster
> Town Town Council Council we we were were able[able] to[to] deliver deliver[12] 12 sessions sessions between[between] December December[and] and March.[March.] This This enabled enabled us us to 10 support support families tumilies with with hot hot food food provision provision during during winter winter months. months. We We were were[supporting] supporting large[large] numbers numbers of[of] families families and and over over this this period period we we provide provide over over 650 650 meals meals to to families families in in the the area, area. Families Families commented commented on on how how much much they they appreciated appreciated the the support support during during rising rising costs costs as[as] well[well] as[as] the[the] opportunity[opportunity][to] to socialise[socialise] when[when] there[there] is[is] little[little] to[to] do[do] in[in] the[the] area.[area.]
Financially Financially there[there] have[have] been been significant significant pressures pressures placed[placed] on on[the] the charity.[charity.] The The rising rising cost[cost] of of salaries[salaries] beyond beyond the[the] income income from from government government funded[tUnded] places places has has been been a a challenge challenge for tor the[the] early early years years sector sector nationally nationally as as well[well] as as ourselves. ourselves. The The new new early early years years inspection inspection framework framework with with a a young young staff[staff] team, team, post post Covid-19, Covid-19, posed posed added added adversity adversity for the the charity. charity. This This combined combined with[with] more more families tumilies needing needing our our services services lead[lead] to to a a difficult difficult financial financial year. year. Looking Looking forward LOrward to to the the 2024 2()24 - - 2025 2025 financial financial years years things things are are looking looking more more positive positive with with the the early early years years tUnding funding rates rates having having been been reviewed, reviewed, the the setting setting receiving receiving a a good good Ofsted[Ofsted] rating rating and and families tåmilies are are starting[starting] to[to] settle[settle] into[into] new new ways ways of[of] living living in[in] this this cost cost of[ot'] living living crisis. crisis.
Helping Helping children[children][with] with[medical] medical needs[needs] /[/] Special[Special][Educational] Educational Needs[Needs] (SEN) (SEN)
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## Opportunities Opportunities[for] for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Lid Lid (a[(a] company company limited[limited] by by guarantee) guarantee)
> Report Report of[of] the[the] Trustees Trustees for for the the Year Year Ended Ended 31 31 March March 2024 2024
> We We continue[continue] to 10 work work with with children children who who have have medical, medical, SEND SEND (Special (Special Educational Educational Needs Needs and and Disabilities) Disabilities) and and additional additional[needs.] needs. We We continue[continue] to[10] aim[aim][to] to ensure ensure that[that][thesc] these children[children] have[have] the[the] same same opportunities[opportunities] as as their[their] peers. peers. There There
> havc have been bccn a a significant significant increases incrcascs in in children children requiring requiring additional additional support support post post Covid-19,[Covid-19.] We We have have seen seen this this year year particularly particularly ever ever more more children[children][behind] behind in[in] development[development,] when[when] starting[staning] in[in] nursery. nursery. We We have have also also seen seen an an increase increase in in
> children children attending attending our our holiday holiday club club and and[family] family activities activities with with learning learning delays delays and/or and/or behavioural behavioural challenges. challenges. This This rcquircs requires different[dilTcrcnt] ways ways oc of working working and and at[at] times times designated[designated] staff[staff] to[to] accommodate accommodatc need, nccd, placing[placing][further] further pressures pressures on on our our budgcts. budgets. The Thc support support for for children children[with] with Special Special Educational Educational Needs Needs in[in] tbc the County County is is also also affected affected by by lack lack of of provision provision for for children children within within school school time time and and outside outside of of schoo] school hours hours and and holidays, holidays. We We have have supported supported this this by by allowing[allowing] children children who who were were due due to[to] start start reception reception the[(he] option option fo[[o] remain remain with with us us until until a a suitable suitable provision provision for for the the child child is is found found in in either either reception reception or or
> year year one. one. wc We have[have] also[also] expanded[expanded][our] our[SEND] SEND provision[provision][within] within our our Holiday Holiday Club[Club] services[services] to to continue continue to to support support children children through through the[the] holidays. holidays. We[continue] to[seek] professional[advice] and training where[needed.] By[continuing][to][provide] flexibility for these We lhmilics, families,continue this this cnablcd enabledto seck children children professional with with advice SEND SEND to to andcontinue continue trainingto to where attend attendneeded.while while also also Byhaving having continuingtheir their needs needs to providemet. met, We We flexibilityhad had a a number number for theseof of children children this this year year in[in] all[all] our our services services who who had had not not been been identificd identified with with additional additional needs needs prior[prior] to[to] attending attending OAKS. OAKS. This This
> was was partially[partially][due] due[to] to increased[increased] waiting wailing times times for for assessments assessments post post, pandemic. pandemic. This This has has lefl lefl a a significant significant number number of of families families waiting waiting to to be be seen seen by by professionals professionals placing placing increased increased pressure pressure on on our our services. services.
> wc We[also] also[continuc] continue to[to][rcccivc] receive[Icss] less or of a[a] contribution[contribution] Crom from the the local local authority authority to to support support children children with with Special Special Educational Educational
> Needs Needs and and Disabilities Disabilities within within nursery, nursery, it it also also takes takes longer longer to to gain gain access access to[to] these these funds. funds. Children Children attending attending holiday holiday club,[club,]
> via via the the HAF HAF scheme, scheme, with with Special Special Educational Educational Needs Needs are are better better supported supported and and funds are are more more readily readily available.[available.] The The HAF HAF scheme scheme has[has] supported supported new new children children to to attend attend enabling enabling them them to to take take advantage advantage or of our our services services from from our our town town and and across across the[Ihe] county. county. We We have have also[also] seen seen an an increase increase in[in] children children attending attending with with SEND SEND outside outside of of the[the] IIAF HAF scheme scheme and and we we continue[continue][to] to support[support][these] these children[children] too.[too.][[lowevcr] However currently currently there there is is no no additional additional funding funding for fbr these these children, children, so so the the charity charity[is] is covertng covering[these] these[costs.] costs. Duc Due[to] to[the] the increase increase[in] in children children requiring requirtng support support we we have have introduced[introduced] for[for] the[the] 2024 2024 - - 2025 2025 year, year,[a] a specific specific session[session][for] for children[children] with[with] SEND[SEND][that] that runs runs alongside[alongside][our] our main[main] holiday[holiday] club[club] for[for] children[children] who[who] would[would] be be
> unable unable to 10 atlcnd attend sessions sessions in in the the main main group, group.
## Support Support for for Young Young People People
We We[have] have always[always] supported[supported] young young people[peoplc][by] by allowing[allowing] them[(hem] to[to] attend[attend] work[work] experience[experience][in] in our our settings settings or or[by] by encouraging encouraging lhcm them 10 to volunteer. volunteer. College College placements placements are are another anolhcr vital vital way way we we are are able able to to offer offer experience experience for for the the next next generation generation of of childcare childcare[practitioners.] practitioners. We wc supported[supported] several[several] young young people[peoplc][to] to[look] look at[at] apprenticeship[apprenticeship] options[options] and[and] supported[supported] them[them] on on their their journey journey to to finding finding a a career. career. Carcer Carcer[[hirs] fairs and and filmily family days[days] have have incrcased increased this this year year and and it[it] was was lovely lovely to[to] meet meet dozens dozens of of young young people people interested interested[in] in careers careers[with] with children children at at our our local local high high school, school. We We continue[continue] to[to] encourage encourage further further groups groups of of young young[people] people[to] to[explore] explore careers careers[options] options[with] with our our[organisation] organisation[and] and beyond,[beyond.] We We have[have] continued[continued] to to focus focus on on developing developing our our team leam many many of of whom whom are are starting starting their their journey journey in in work. work. This This has has brought brought added added pressures pressures in[in] regard regard to to[training] training and and support support to to develop develop these[these] young young[people.] people. Many Many are are undertaking undertaking apprenticeships apprenticeships and and off offthe the job job expericnces experiences enabling[enabling] them[thern][to] to develop develop as as practitioners practitioners for[for] the[the] future, future.
Exclusions Exclusions During During[the] the past past year year[there] there[havc] have[bccn] been no no permanent permanent or[or][fixed-term] fixed-term exclusions[exclusions] at[at] any[any][ of] of our[ our] settings.[settings.][This] This is[is] the[the] 20th[20th] year ycar in in a a row row[[Or] for[(hc] the organisation. organisation. Whcrc Where children[children] are are identified[idcntijied] as as[needing] needing[behavioural] behavioural support[support] a[a] behavioural[behavioural] plan[plan] is[is] put[put] in[in] place place[via] via our our fostering Ibstcring positive positive behaviour behaviour policy, policy, educational[educational] needs nccds policy policy and[and] provision[provision] mapping[mapping] protocols.[protocols.] Outside Outside agency agency support[support] is is sort sort as as required required on on a a[case-by-case] case-by-case basis. basis. Positive Positive behaviour behaviour is is also also supported supported via via our our values values educational educational programme programme and and access access to[to] the[the] Solihull Solihull approach approach to[to][supporting] supporting young young children children advocated[advocated] by[by] the[the] health[health] team team within within[IIIC] the county. county.
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Matthew Matthew livans livans Trustee 'l'rustcc
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Opportunities Opportunities[for] for Adventure, Adventure, Knowledge Knowledge and Skills Ltd[(a] limited by and Skills Ltd (a company company limited by guarantee) guarantee) Report[of the] Trustees | for Reportfor the the ofYear Year the Ended Ended Trustees31 31 March March 2024 2024 Chari ' Mana er Re or | Charity Managers Report This year has been another challenging one post pandemic with finances being impacted and the needs Of families | Thisgrowing growing yearin in has the the beencurrent current anothercost cost of of' challenging living living crisis. crisis. one We Wepost have havepandemichowever, however, withcontinued continued finances to to beingsuccessfully successfully impactedaccommodate accommodate and the needschildren children of familieswho who were were in[in] need[need][and] and[vulnerable] vulnerable and[and] expanded[expanded] some some services.[scrvices.] There has been an increase children[with] support needs[starting] to attend our services. This year holiday club has | been beenhere particularly particularlyhas been an impacted impactedincreaseby by in this. this.children Nursery Nurserywith continues continuessupport needsto[to] be[be] starting affected affectedtoand and attendthe[the] crisi crisis our **s** ervices. in in SEND SEND Thisprovision provision year holiday clubfor[for] school school aged aged has children has children has prevent prevent some some children children moving moving on on from from nursery nursery as as well well affected affected the the children children attending attending holiday holiday club. club. Funding Funding to[to] support support our our most most vulnerable vulnerable children children including including those those with with special special educational educational needs needs has has been been restricted. restricted this this year[in][Nursery] as new[rules] prevent children gaming support[right] from[[he] start or their early years education. This has | year resulted in Nursery[in][the] charity as new rules covering prevent the shortfall children in gaining costs support to support right children {rom the with start special of their educational early years education. needs. Children This still has | rn need **e** sulteded suppor support in **t** heat[at] charitythe[the] same same covl[level] **e** velring without withoutthe shortfalladditional additional in costsfunding fUnding to support and and would would childrenbe[be] unable unable with specialto to attend attend educational without without support. support. needs.We We Children. continue continuestillto to || explore exploreincluding including other other living livingfunding fundingwage, wage, employer employer streams streams contributionsas ascontributions the the governments governments or outgoing or outgoing funded fündcd costs. costs. childcare childcare offer ofTOr is is still still not not rismg rising at at a a rate rate to to cover cover costs costs | childcare childcareFollowing Followingoffer[()I'll-yr] a a review[review] to to include include the the working government govemment working litmilies familiesis is increasing increasingwith with children children funding Cunding aged aged rates rates 9[9] months monthsfrom from[plus.] plus. April AprilThis This 2024 2024 will will but but inevitably inevitably they they are are mean mean also also that that extending extending the the majority majority — their their | of of income income for for nurseries nurseries in[in] England England will[will] be[be] set set by by government govemment thought thought[their] their funding funding rates, rates. The The main main outgoing[outgoing] cost cost for for | nurseries nurseries is is salartes salaries which which is[is] also also set set by by government governnrcnt through through their[their] minimum minimum wage wage and and tax tax requirements. requirements. We We must must | maintain maintain our our legal[legal] adult/child adult/child ratio ratio requirements, requirements, also also sect set by by governmcnt government in in their their statutory statutory framework and framework and can can therefore therefore not[reducc] staffing to match income. Financially the government oiler has had a significant negative impact on our | not finances financesreduce and andstaffing ability ability to[to] to operate operate match income.and and the[the] whole whole Financiallysector sector theis is looking lookinggovernmenttoward toward offerwith with hasthe[the] hadupcoming upcoming a significantchanges changes negativewith with anticipation anticipation impact on of of oura a much-improved much-improved offer, offer. | The The increase increase[in] in families thillilies[looking] looking[tar] for care care for[[Or] children children with with special special educational educational needs needs in[in] the[the] holidays holidays has has resulted resulted in[in] more more children children who who need need support support attending attending our our holiday holiday club,[club.] Children Children attended attended via Vla the[the] Holiday Holiday Food Food and and Activity Activity scheme scheme are are well well tirndcd funded for for us us to to provide provide support. support. For For parents parents who who are are not not eligible eligible there there is is currently currently little little financial financial support support for tur them them to attend. StafT within[holiday] club are[developing] and[training] to meet this necd including positive behaviour strategies | and andto attend.[nutritional] nutritionalStaff awareness. awareness, within holiday club are developing and training to meet this need including positive behaviour strategies | Financially Financially we we have[have] continued[continued] to[to][invest] invest in[in] the[the] building[building] maintenance maintenancc and[and] repairs[repairs] to to wear and wear and tear tear to to improve improve the the building building functionality. We are using[the] one side of[the][building][10] provide further community activities outside of the nursery and and holiday holiday provision. provision. | Our Ourfunctionality,parent parent and and Wechild child are using sensory sensory the group group one side[has] has of[continued] continuedthe building to to allow allow to provideus us to to connect connectfurther community with with the[the] local local activitiescommunity community outsideand and offamilies familics the nurserywe we serve. serve. We We also[also][provided] provided a a ‘Lets 'Lets ‘Talk' Talk' group group for[tOr] families families to to acvess access to to support support their their child's child's language language and and develop develop skills, skills. This This was was impofiant important as as many many children children we we have have contact contact with with have have reduced reduced language, language, social social and and emotional emotional skills. skills. Supporting young people has been a large part or our work this financial year. We have supported young, unemployed Supporting|individuals individuals into[into] young[training] training peopleand[and] has employment.[employment.] been a large part We We ofcontinued conunued our work to tothissupport support financialseveral several year.staff[statf] Weto[to] haveupskill upskill supportedand and undertake undertake young, unemployedlevel level 2[2] and and level level 3 3 qualifications, qua itications, We We were were also also able able to[to] support support students students from from the[the] local local technical technical college college again again this this year year with with level level 2 2 and and[3] 3 qualifications. qual fications, We We continued[continued][to] to support support young young people people in in developing developing skills skills to to enable enable them them to to communicate communicate in in [åce-to-(åc face-to-face interactions. interactions. Having [laving our our young young[people] people to to support support our our community community work work also also allows allows then then to to develop develop their their social skill which arc[finding] younger generations arc[less] developed[in.] social st which are finding younger generations are less developed in. We We were were also[al] •o able able to[to][provide] provide[12] 12 sessions sessions of[of] food[food] and and activity activity[Cor] for families families through through winter winter to[to] support support them them with with the[the] cost cost Council.of ofCouncil. living living Wethrough t roughe were werethe the able able Winter Winter to[to] provide[provide] of Df Wellbeing Wellbeing over over 650 650 meals mealsGrant Grant over over from from 12 12Herefordshire Herefordshiresessions sessions to to families families Council Council in in and and the the local local a a grant grant area. area. from from This This Leominster Leominster is is an an increase increase Town Town of Of 150 150 meals meals compared compared to to the the previous previous year year for for[the] the same same number number of oc sessions. sessions. We We were were also also able able to to support support with with signosting signposting to other other services services and and provide provide a a vital vital social social contact contact for for many many families families who who would would not not have have accessed accessed things things in in the the local local c mmunity cOmmunity otherwise. otherwise. Our Our vital vital community community work work is is really really important[important] for[for] the[the] local[local] area area and and for[for] those[those] with with children children pa particularly icularly as as there thcrc is is little little youth youth provision provision in in thc the arca. area. We We have have re reinstated nstated our our termly termly Nearly[Nearly] New New sales,[sales,] to[to] provide[provide] low low cost[cost] clothing[clothing] for[for] children children under under 11[I][I] years. years. This This is is well well used used by by loc Jocal I families families as as access access to to clothing clothing is is limited limited in in a a rural rural area area as as well well as as being being a a low low economic economic area. area. Page Page 4[4]
## Opportunities Opportunities for for Adventure,[Adventure,][Knowledge] Knowledge and and Skills Skills Ltd Ltd (a[(a] company company limited[limited] by[by] guarantee) guarantee)
## Report Report of of the[the] Trustees Trustees for for the the Year Year Ended Ended 31[31] March March 2024 2024
National extend theextend Nationalthe Wenutritional Wenutritionalcharity charity are arc our our very very Day Day needs needs Vitamin Vitaminlunch lunch Nursery privileged privileged Nurseryas asoffer offer many many Angles. Angles. Association Associationto toto[to] children children[5] 5receive receive days days This This whoper per in inwho a ais is[healthy] healthy low low to toweek week[understand] understand support support economic economic all all food[food] year yearour ourdelivery delivery[the] theareas areaschildren children round. round.[challenges] challenges do do weekly[weekly] Wenot Wenot to to get get receive receive are are[the] the[from] fromthe the very very sector sector correct correct[National] Nationalhigh high thankful[thankful] faces facesquality[quality] level[level] and[and] Day[Day] for[for] of of meals meals[provides] providesNurseries[Nurseries] nutrition.the[the][nutrition.] support[support] and and a a snacks[snacks] voice[voice] Association[Association] This[This] we we has[has] receivefor[receive][for] that[that] the[the] enabled[enabled] meets meets funded[Cunded] sector.[sector.] from[from] us us their their the the by by to to We We celebrated celebrated[the] the Kings Kings Coronation Coronation with[with] a a grant grant from[from][Leominster] Leominster Town Town Council,[Council,] decorated[decorated][the] the building[building][ and] and held[held] a[a] tea tea party party[with] with our our families.[families.] This This provided provided a a joyous joyous occasion occasion near near the[the] start statt of ofa a challenging[challenging] year. year.
Margo Margo Evans Evans Charity Charity Manager Manager
## Nursery Nursery Managers Managers Report Report
> Having Having invested invested in[in] a a young young relatively relatively inexperienced inexperienced team team and[and][have] have[spent] spent time[time][mentoring] mentoring them[them][to] to develop[develop] both[both] their their practice practice and and their[their] confidence. confidence.[This] This[has] has been been a a huge[huge] commitment[commitment][for] for[the] the management management team team but[but] both[both] staff[staff] retention[retention] and and
> moral moral has has improved improved following ft)llowing this this intensive intensive support. support. We We have[have] made[made] some some adjustments[adjustments] to[to] our our appraisals[appraisals] and[and] supervision[supervision] and and feel feel positive positive that[that] we we can ean continue[continue] to[to] build build on on staff staff wellbeing[wellbeing] whilst whilst developing[developing] a[a] strong strong confident[confident] and[and] skilled[skilled] early early
> years years[team..] team. .
> Following Following on on[from] from the[the][pandemic] pandemic we we continue[continue][to] to see see children[children] struggle[struggle] with[with][peer] peer[interactions] interactions and[and] with[with] low[low] tolerance tolerance
> levels levels for for frustration. frustration. The The levels levels of of support support[the] the children[children] need[need][often] often place[place] pressures pressures on on the[the] team.[team.] Senior[Senior] practitioners practitioners challenge. challenge. have have guided[guided] We We other other have have staff staff also[also][by] by[provided] providedmodelling modelling training training and[and] to to providing[providing] help help build build[training] trainingunderstanding understanding to to help help them them of what of what build build lies lies strategies strategies behind behind behaviours behaviours to[to] support support to to behaviours behaviours better better support support that that
> the the children children long long term. term,
> We We have[have] seen seen a[a][shifting] shifting pattern pattern of[of] demand[demand] for for spaces spaces as as more more parents parents have have chosen chosen to[to] return return to[to] work[work] after after having having
> children children and and not not taking taking the[the] full full[twelve] twelve months months off.[off.] This[This] has[has][led] led[to] to an an increase increase in[in] demand[demand] for[Cor] baby[ baby] room room spaces,[spaces.] We[We] have have
> been been able able[to] to support support this[this] demand demand by[by][returning] returning to[to] a[a][pre-pandemic] pre-pandemic shared[shared] space space for[for] our our eighteen-month[eighteen-month] plus[plus] children[children] and and
> our our 2[2] year year old[old] children. children. This[This] is[is] something[something] we we will[will] look[look] to[to] develop[develop][further] further over[over] the[the next] next twelve[twelve] months[months] as[as] we[we] explore[explore] the the
> best best ways ways[to] to use use[the] the space space we we[have] have and[and] the[the][ stafTtcam.] staff team.
The The demand demand for for the[the] 30 30[hours] hours working working[families] families funding funding has has gradually gradually increased increased and and we we have have received[received] enquiries enquiries for for spaces spaces[{Or] for when[when] the[the][funding] funding[for] for working[working][ families] families is[is] extended[extended][10] to include[include] 2[2] year year olds.[Olds.] Uncertainty Uncertainty around around rates rates to to be be paid paid for for this this funding[funding] makes makes[it] it challenging[challenging][to] to plan[plan] financially financially for[for][the] the[future.] future, We We continue[continue] to to look look at[at] ways ways to to enhance enhance the the provision provision whilst whilst being being mindful mindful of of costs costs to to parents. parents. Consultation Consultation with with parents parents around around costings costings and and[fees] fees was was carried[carried] out out at[at] the[the] end[end] of[of] this[this] financial financial year year and[and][this] this[will] will help[help] form[form] the[the] basis[basis] of[of] our[our] fee[fee] structure structure moving moving forwards. forwards.
## Diane Diane Wilkins Wilkins
Nursery Nursery Manager Manager
## FINANCIAL FINANCIAL REVIEW REVIEW
> Financial Financial position[position]
> During During the the year year ended[ended] 31 31 March March 2024 2()24 total total income income amounted amounted to to £324,341 C324,341 (2023: (2023: £339,680). C339,680). £343,040 $343,040 (2023: (2023:
> €357,856) £357,856) was was used used to[to] defray defray expenses. expenses. At At the[the] start[start] of of the[the][period] period total[total][funds] funds brought[brought][forward] forward were were £151,941[€151,941] (2023: (2023: £170,117), At At the[the] end[end] of[of] the[the][period][period][this][this][had][had][fallen][fallen][to][to][£133,242][€133,242][(2023:][(2()23:][fallen][fallen][to][to][£151,941),][E][151,941]
> Principal Principal funding funding sources sources The The principal principal source source of[of] income income[for] for[the] the charity[charity] is[is][from] from the[the] fees[fees] paid[paid][by] by parents. parents. The[The] charity[charity] also[also] receives[receives] funding[funding] from from Herefordshire Herefordshire Council. Council.
> Page Page 5[5]
> Opportunities Opportunities for for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Ltd (a[(a] company company limited[limited] by by guarantee) guarantee)
Report Report of of the[the] Trustees Trustees for for the the Year Year Ended Ended 31 31 March March 2024 2024
## FINANCIAL FINANCIAL REVIEW REVIEW
Investment Investment policy policy and and objectives objectives The The key key objectives objectives are are attained attained by by the[the] employment employment of of staff staff with with recognised recognised childcare childcare qualifications qualifications and and skills skills to[to] provide provide high high levels levels of of support support and and childcare. childcare.
> Reserves Reserves policy policy It It is is our our policy policy to to carry carry reserves reserves that that as as a a minimum mimmum would would cover cover three three months months salary salary costs costs of {75,000. of £75,000.
STRUCTURE, STRUCTURE, GOVERNANCE GOVERNANCE AND AND MANAGEMENT MANAGEMENT Governing Governing document document The The charity charity is is controlled controlled by by its its governing governing document, document, a a deed deed of of trust, trust, and and constitutes constitutes a a limited[limited] company, company, limited limited by by guarantee, guarantee, as as defined[defined] by[by] the[the][ Companies] Companies Act Act 2006.[2006.]
> Recruitment Recruitment and and appointment appointment of of new new trustees trustees New New[trustees] trustees are are appointed appointed by by the[the] members. members.
> REFERENCE REFERENCE AND AND ADMINISTRATIVE ADMINISTRATIVE DETAILS DETAILS Registered Registered Company Company number number
> 06871339 06871339 (England (England and and Wales) Wales)
Registered Registered Charity[Charity] number number 1 1130042 130042
Registered Registered office office Coningsby Coningsby Children's Children's Centre Centre Coningsby Coningsby Road Road Leominster Leominster Herefordshire Herefordshire HR6 HR6 8LL 8LL
Trustees Trustees M M Evans Evans J J Morgan Morgan A A Gosling[Gosling][(resigned] (resigned 31.3.24)[31.3.24)] Mrs Mrs M M Evans Evans M M D[D] Jones[Jones][(appointed] (appointed 13.2.24) 13.2.24)
Company Company Secretary Secretary M M[Evans] vans
> Independent Independent Examiner Examiner B BE[E] Prime[Prime]
> Streets Streets Dyke Dyke Ruscoe Ruscoe Ltd Ltd
> 1 110 10 Corve Corve Street Street Ludlow Ludlow
> SHROPSHIRE SHROPSHIRE SY8 SY8 IDJ IDJ
Page Page 6[6]
Opportunities Opportunities[for] for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Lid Ltd (a[(a] company company limited[limited] by by guarantee) guarantee)
> Report Report of[of] the[the] Trustees Trustees
> for for the the Year Year Ended Ended 31 31 March March 2024 2024
> This This report report has has been been prepared prepared in in accordance accordance with with the[the] special special provisions provisions of of Part Part 15 15 of of the the Companies Companies Act Act 2006 2006 relating relating
> to to small small companies. companies.
> Approved Approved by by order order of of the[the] board board of of trustees trustees on on 10[10] December December 2024 2024 and and signed signed on on its[its] behalf[behalf] by: by;
> M M[Evans] Evans ~ Trustee Trustee
> Page Page[7] 7
|
.
;
> Independent Independent Examiner's Examiner's Report Report fo[to] the the Trustees Trustees of of Opportunities Opportunities for[for][Adventure,Knowledge] Adventure, Knowledge
> and aud[Skills] Skills Ltd Lid (a[(a] eompnny company limifed[limited] by by
> guarantee) guarantee)
> Independent Independent examiner's examiner's report report to to the the trustees trustees of of Opportunities Opportunities for for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Ltd (a (a
> company company limited[limited] by[by][guarantee)] guarantee) (‘the[('the] Company’) Company') I I report report to to the[the] charity charity (rustecs trustees on on my my examination exanlillfltion of of the the accounts accounts Of of the the Company Company for for the the year year ended ended 31 31 March March 2024, 2024. Responsibilities and and basis basis of report[of ] report As As the[thc] charity's charity's trustees[trustees] ofthe ofthe Company Company[(and] (and also[also][its] its directors directors for[for] the[the] purposes purposes of company of company law) law) you you are are responsible responsible[for] for the the preparation preparation of of the thc accounts accounts in in accordance accordancc with with Ihe the requirements requit•cyncntg of of the the Companies Companies Act Act 2006 2006 (‘the (lthc 2006 2006 Act'), Act’),
> Having Having satisfied satisfied nyselfthnt myself that[the] the accounts accounts of of the[the] Company Company are are not not required required to[to] be be audited audited under under Part Part 16 16 of of the[the] 2006 2006 Act Act and and are arc eligible eligible for for indcpcndcnt independent examination, examination,[I] | report report in in respect of of my my examination examination of of your your charity's charity's accounts accounts as_ as carried carried out out[tllldcr] under Section[Section] 145 145[of] of the[the] Charities[Charities] Act Act 2011[201][1] (‘the[('the][2011] 2011 Act'). Act'). In (n carrying carrying out out my my examination examination I I have have followed followed the the
> Directions Directions given given by[by] the[the] Charity Charity Commission Conunission under under Section Section[145(5)] 145(5) (b)[(b)] of of the[the] 2011 2011[Act.] Act. Independent Independent examiner's examiner's statement statement
> Since Since your your charity's charity's gross gross income income exceeded exceeded £250,000 your your examiner examiner[must] must be[be] a[a] member[member] of[of] a a listed[listed] body,[body.] I i can can confirm[confirm] that that[I] 1 am am qualified qualified to 10 undertakc undertake the the examination cxamination because because IT I am am a a member member of[of] the[the] Association[Association] of[of] Chartered Chartered Certified Certified Accountants, Accountants,[which] which is[is] one onc of[of][ the] the[listed] listed[bodies,] bodies.
- I I have have completed completcd my my examination, examination, I | confirm confirm that that no no matters matters have have come come to to my my attention[attention] in[in] connection connection with with the the examination examination giving giving me me cause cause to to believe; believe; lL. accounting accounting recoltls records were were not not kept[kept][in] in respect[respect] of[of][ the] the Company Company as as required tuquired by[by] Section Section 386 386 of[of] the[ the] 2006 2006 Act; Act; or or 2. a thc the accounts accounts[do] do not not accord accord with with those[thosc] records; records; or or 3. 3. the the accounts accounts do do pot not comply comply with with the the accounting accounting requirements requit•etnents of of Section Section 396 396 of of the[the] 2006 2006 Act Act other[other] than than any any requirement requirement that that the[thc] accounts accounts give give a a true true and and fair fair view view which which is is not not a a matter mnller considered considered as as part part of an of an independent independent examination: examination: or or
- 4, the the accounts accounts have have not not been been prepared prepared in in accordance accordance with with the the methods lhcthocls and and principles principles of Of the[the] Statement Statement of Of Reconunended Recommended Practice Practice[for] for accounting accounting and and reporting reporting by[by] charities charities (applicable (applicable to[to] charities charities preparing preparing their their accounts accounts in in accordance accordance with with the the Financial l'inancial Reporting Reporting Standard Standard applicable applicable in in the the UK UK and ond Republic Republic of of Ireland Ireland (FRS (FRS 102)), 102)),
I L have have no no concerns concerns and and have have come come across across no no[other] other matters matters in in connection connection with with the the examination examination to[to] which which attention attention should should be be drawn drawn in in this this report report in in order order (0 to enable enablc a a proper proper understanding understanding or of the the accounts ttccounts to to be be reached. reached.
BE F, Prilne Prime
Streets Stt•cets Dyke Dyke Ruscoe Ruscoe Ltd Ltd 1 110 10 Corve Corve Street[Street,] I Ludlow ,udlow SHROPSHIRE SHROPSHIRE SY8 SY8 IDJ
> 10 10 1)ecembct• December 2024 2024
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## Opportunities Opportunities for tor Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Ltd (a[(a] company company[limited] limited by by guarantee) guarantee)
Statement Statement[of] of Financial Financial Activities Activities (Incorporating (Incorporating an an Income Income and and[Expenditure] Expenditure Account)[Account)] for for the the Year Year Ended Ended 31 31 March March 2024 2024
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||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2024|2024|2023|2023|
|Unrestricted|Unrestricted|Restricted|Restricted|Total|Total|Total|Total|
|fund|fund|fund|[iand|funds|funds|funds|funds|
|Notes|Notes|£|£|£|&|
|INCOME|INCOME|AND|AND|ENDOWMENTS|ENDOWMENTS|FROM|FROM|
|Donations|Donations|and|and|legacies|legacies|189|189|.|189|189|477|477|
|Charitable|Charitable|activities|activities|4|4|
|Childcare|Childcare|and|[and]|education|[education]|155,833|155,833|-|155,833|155,833|152,765|152,765|
|Other|Other|trading|trading|activities|[activities]|2|2|140,799|-|140,799|154,744|154,744|
|Investment|Investment|income|income|3|3|580|580|-|580|580|225|225|
|Other|Other|income|income|B)|5|26,940|26,940|-|26,940|26,940|31,469|
|Total|Total|324,341|324,341|~|324,341|324,341|339,680|339,680|
|EXPENDITURE|EXPENDITURE|ON|[ON]|
|Raising|Raising|funds|funds|989|989|-|989|989|97|97|
|Charitable|Charitable|activities|activities|
|Childcare|Childcare|and|[and]|education|[education]|342,051|342,05]|-|342,051|342,051|357,759|357,759|
|Total|Total|343|343,040|-|343,040|357,856|357,856|
|NET|NET|INCOME/(EXPENDITURE)|INCOME/(EXPENDITURE)|(18,699)|(18,699)|-|(18,699)|(18,699)|(18,176)|(18,|176)|
|RECONCILIATION|RECONCILIATION|OF|OF|FUNDS|FUNDS|
|Total|Total|[funds]|funds|[brought]|brought|[forward]|forward|151,941|151,941|-|151,941|151,941|170,117|170,117|
|TOTAL|TOTAL|FUNDS CARRIED|[FUNDS]|CARRIED|FORWARD|FORWARD|133,242|133,242|-|133,242|133,242|151,941|151,941|
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The The notes notes form form part part of[of] these[these] financial[financial] statements statements Page Pape 9[9]
]
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## Opportunities Opportunities[tor] for Adventure, Adventure, Knowledge Knowledge and Skills Ltd[(a] limited by company | guarantee) guarantee)and Skills Ltd (a company limited by
## Balance Balance Sheet Sheet 31 3' March March 2024 2024
| |
|Balance Sheet
3' March 2024
Balance Sheet
31 March2024|||||||
|---|---|---|---|---|---|---|
||||||2024
2024|2023
2023|
||||Unrestricted
fund
Unrestricted
fund|Restricted
fund
Restricted
fund|Total
liands
Total
funds|Total
Iünds
Total
funds|
|FIXED ASSETS
FIXED ASSETS||Notes
Notes|£|£|£|£|
|'I'angible assets
Tangible assets||10
10|12,172
12,172|-|12,172
12,172|14,405
14,405|
|CURRENT ASSETS
CURRENT ASSETS|||||||
|Debtors
Prepayments and accrued income
Debtors
Prepayments and accrued income||11
1|16,226
9,002
16,226
9.002|.
-|16,226
9,002
16,226
9,002|21,095
4,937
21,095
4,937|
|Cash at bank and in hand
Cash at bank and in hand|||109,655
109,655|-|109.655
109,655|129,251
129,251|
||||134,883
134,883|-|134,883
134,883|155,283
155,283|
|CREDITORS
CREDITORS|||||||
|Amounts falling due within
Amounts falling due within|onc year
one year|12
12|(4,882)
(4,882)|-|(4,882)
(4,882)|(4,446)
(4,446)|
|NET CURRENT ASSETS
NETCURRENT ASSETS|||130,001
130,001|-|130,001
130,001|150,837
150,837|
|'I'OTAL ASSE'I'SLESS CURREN'I"
TOTAL ASSETS LESS
CURRENT|||||||
|LIABILITIES
LIABILITIES|||142,173
142,173|-|142,173
142,173|165,242
165,242|
|ACCRUALS ANDDEFERRED
ACCRUALSAND DEFERREDINCOME||13
13|(8,931)
(8,931)|-|(8,931)
(8,931)|(13,301)
(13,301)|
|NET ASSWI'S
NETASSETS|||133,242
133,242|.|133.242
133,242|151,941
151,941|
|FUNDS
FUNDS||14
14|||||
|Unrestricted tunds
Unrestricted funds|||||133,242
133,242|151,941
151,941|
||||||ed|een annem|
|TOTAL FUNDS
TOTALFUNDS|||||133,242
133,242|151,941
151,941|
> The The charitable charitable company company is is entitled entitled to to exemption exemption from from audit audit under under Section Section 477 477 of of the[the] Companies Companies Act Act 2006 2006 for[for] the[the] year year ended ended 31[31] March March[2()24.] 2024.
> The The members members have have not not required required the the company company to to obtain obtain an an audit audit of 01' its its financial financial statements statements for {Or the the year year ended ended
> 3 31 1 March March 2024 2024 in in accordance accordance with with Section Section 476 476[01'] of lhe the Companies Companies Act Act 2006. 2006.
> The The trustees trustees acknowledge acknowledge their[their] responsibilities responsibilities for for
> (a) (a) ensuring ensuring that that[the] the charitable charitable company company keeps keeps accounting accounting records records that that comply comply with with Sections Sections 386 386 and and 387 387 of 01' the the Companies Companies Act Act 2006 2006 and and
> (b) (b) preparing preparing financial financial statements statements which which give give a a true true and and fair tilir view view of of the the state state of of affairs affairs of of the the charitable charitable company company as as
> at at the the end end of of each each financial financial year year and and of of its its surplus surplus or or deficit deficit for for each each financial financial year year in in accordance accordance with with the the requirements requirements of of Sections Sections 394 394 and and 395 395 and and which which otherwise otherwise comply comply with with the[the] requirements requirements of of the[Ihe] Companies Companies Act ACI 2006 relating relating to to financial financial statements, statements, so so far ihr as as applicable applicable to to the[the] charitable charitable company. company.
The The notes notes form rortn part part of of these these financial financial statements statements Page Page 10 continued... continued...
Opportunities Opportunities[for] for Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Ltd (a[(a] company company limited[limited] by by guarantee) guarantee)
Balance Balance Sheet Sheet - - continued continued 31 31 March March 2024 2024
These These[financial] financial statements statements have have been been[prepared] prepared in in accerdance accordance with with the the provisions provisions applicable applicable to to charitable charitable companies companies subject subject to[to][the] the small small companics companies regime. regime. The The financial financial statements statements were were approved approved by by the the Board Board[of] of Trustees Trustees and and authorised authorised for for issue issue on on 10[10] December December 2024 2()24 and and were were signed[signed] on on[its] its behalf[behalf][ by:] by:
J J Morgan Morgan - - Trustee Trustee
The The notes notes form form part[part] of of these[these] financial financial statements statements
> Page Page[I] 11[i]
}
Opportunities Opportunities ror for Adventure, Adventure, Knowledge Knowledge and Skills Ltd[(a] company[limited] by | andguarantee) guarantee) Skills Ltd (a company limited by | Notes Notes to[to] the the Financial Financial Statements Statements | for for the[the] Year Year Ended Ended 31[31] March March 2024 2024 As 1. ACCOUN'I'ING ACCOUNTING POLICIES POLICIES Basis Of preparing the financial statements | Basis of preparing the financial statements VI'he The financial financial statements statements of Of the the charitable charitable company, cornpany, which which is is a a public public benefit benefit entity[entity] under under FRS FRS 102, 1()2, have have been been prepared[in] accordance with[the] Charities SORP (FRS[102)] 'Accounting and Reporting by Charities: Statement of or[Recommended] Recommended[Practice] Practice applicable[applicable] to to charities charities preparing preparing their their accounts accounts in in accordance accordance with with the the Financial Financial }| preparedReporting Reporting inStandard Standard accordanceapplicable applicable with the Charitiesin in the the UK UK SORP and and (FRS Republic Republic102)of of ‘AccountingIreland Ireland (FRS (FRS and Reporting102) 102) (effective (effective by Charities:1 I January January Statement2019)’, 2019)', | Financial Financial Reporting Reporting Standard Standard 102 102 'The 'The Financial Financial Reporting Reporting Standard Standard applicable applicable in in the the UK UK and and Republic Republic of of Ireland' and[the] Companies Act 2006. The financial statements[have] been prepared under[the] historical cost | convention. convention. Ireland’ and the Companies Act 2006, The financial statements have been prepared under the historical cost Income Income All All[income] income[is] 1s[recognised] recognised in[in] the[the] Statement Statement of[of] Financial[Financial] Activities Activities once once the[the] charity[charity] has[has] entitlement[entitlement] to[to] the[the] funds,[funds,] it it is is probable probable that that the the income income will will be be received received and and the the amount amount can can be be measured measured reliably. reliably.
> Income Income from from trading trading activities activities is is stated stated after after any any discounts. discounts. Income Income is is not not subject subiect to 10 VAT VAT or or any any other other sales sales taxes. taxes.
> Government Government grants grants based based on on the[the] performance performance model model are are accounted accounted for for on on an an accruals accruals basis. basis. There There are are no no unfulfilled unfulfilled conditions[conditions] or or contingencies.[contingencies.]
> Expenditure Expenditure
> Liabilities Liabilities are arc recognised recognised as as expenditure expenditure as as soon soon as as thcrc there is is a a legal legal or or constructive constructive obligation obligation committing committing the the
> charity charity to to[that] that expenditurc, expenditure,[it] it[is] is probable probablc[that] that a a transfer transfer of of economic economic benefits benefits will will be bc required required in[in] settlement settlement and and the the amount amount of of the the obligation obligation can can be be measured measured reliably. reliably. I'xpenditure Expenditure is is accounted accounted fo fo on on an an accruals accruals basis basis and and has has been been classified classified under under headings headings that[that] aggregate aggregate all[all] cost cost related related to[to] the the category. category. Where Where costs costs cannot cannot be be directly directly
> attributed attributed to to particular panicular headings headings they they have have been been allocated allocated to 1o activities acuvities on on a[a][basis] basis consistent[consistent] with[with] the the use use of of resources. resources.
Tangible Tangible fixed fixed[assets] assets Depreciation Depreciation is is provided provided at at the the following following annual annual rates rates in in order order to to write write off off cach each asset asset over over its its estimated estimated useful usefill life. life, Equipment Equipment - Straight Straight line line over over 8[8] years, years, Straight Straight line line over over 5[5] years, years, Straight Straight line line over over 3[3] years years[and] and Straight[Straight] line[line] over over 10[10] years years Fixtures Fixtures and and fittings fittings - 25% 25% on on reducing reducing balance balance Computer Computer equipment equipment - Straight Straight line line over over[3] 3 years years
Taxation Taxation The The charity charity is is exempt exempt from from corporation[corporation] tax tax on on its its charitable charitable activities.[activities.]
Fund Fund accounting accounting Unrestricted Unrestricted /ünds funds can can be[bc] used[used] in in accordance accordancc with with the[the] charitable charitable objectives objectives at[at] the[the] discretion discretion of of the[the] trustecs.[trustees.] Restricted Restricted funds funds can can only only be be used used for particular for particular restricted restricted purposes purposes within within the[the] objects objects of of the[the] charity. charity. Restrictions Restrictions arise arise when when specified specified by by the the donor donor or or when when funds Iünds are are raised raised for for particular particular restricted restricted purposes. purposes.
Hire Hire purchase purchase and and leasing[leasing] commitments commitments Rentals Rentals paid paid under under operating operating leases leases are are charged charged 10 to the the Statement Statement of of Financial Financial Activities Activities on on a a straight straight line line basis basis over over the[Che] period[period] of[of] the[the] lease,[lease.] Pension Pension costs costs and and other other post-retirement post-retirement benefits benefits The The charitable charitable company company operates operates a a defined[defined] contribution contribution pension pension scheme. scheme. Contributions Contributions payable payable to to the the charitable charitable company's company’s pension[pension][scheme] scheme are[are] charged[charged] to[to] the[the] Statement[Statemenl] of[of] Financial[ Financial] Activities Activities in[in] the[the][period] period to to which which they they relate. relate.
> Page Page 12[12] continued... continued...
Opportunities Opportunities[for] for[ Adventure,] Adventure, Knowledge Knowledge and and Skills Skills Lid Lid (a[(a] company company[limited] limited by by guarantee) guarantee)
> Notes Notes to[to] the the Financial Financial Statements Statements - - continued continued
> for for the the Year Year Ended Ended 31 31 March March 2024 2024
1. 1. ACCOUNTING ACCOUNTING POLICIES POLICIES -[-] continued continued
Debtors Debtors Debtors Debtors are are amounts amounts owed owed[to] to the[the] charity.[charity.] They They are are measured measured on on the[the] basis basis of of their[their] recoverable recoverable amount. amount.
> Bank Bank and and[cash] cash in[in] hand hand Cash Cash at at bank bank and and in in hand hand is is held held to to meet meet the the day day to to day day running running costs costs of of the the charity charity as as they they fall fall due. due. Cash Cash equivalents equivalents are are short short term, term, highly highly liquid liquid investments, investments, usually usually in[in] instant instant access access interest[interest] bearing[bearing] savings[savings] accounts.[accounts,]
Creditors Creditors Creditors Creditors are are amounts amounts owed owed by by the the charity,[charity.] They They are are measured measured at at the[the] amount amount that[that] the[the] charity charity expects expects to[to] have have to to pay pay to[to] settle[settle][ the] the debt.[debt.] 2. 2. OTHER OTHER TRADING TRADING ACTIVITIES ACTIVITIES
|2.
2.|OTHER TRADING ACTIVITIES
OTHER TRADINGTRADING ACTIVITIES|||
|---|---|---|---|
|||2024
2024|2023
2023|
||Pre-school session fees
Pre-school session fees|140,192
Vs
140,192|153,964
sis
153,964|
||Fundraising events
Fundraising events|607
607|780
780|
|||140,799
140,799|154,744
154,744|
|3,
3%|INVESTMENT INCOME
INVESTMENT INCOME|||
|||2024
2024|2023
2023|
|||£|£|
||Deposit account interest
Deposit account interest|580
580|225
225|
|4.
4,|INCOME FROM CHARITABLE ACTIVITIES
INCOME FROM CHARITABLE ACTIVITIES|||
|||2024
2024|2023
2023|
|||Childcare
Childcare||
|||and
and|Total
Total|
|||education
education|activities
activities|
|||£|z|
||NEG, NEF & 2 year old grant funding
NEG, NEF& 2 yearold grant funding|149,917
149,917|143,027
143,027|
||Inclusiongrants
Inclusion grants|5,916
5,916|9,738
9,738|
|||155,833
155,833|152,765
152,765|
Grants Grants received received are are performance performance related related and and are arc for[for] the[the] charity's[charity's] main main activity[activity] of of the[the] provision[provision] of[of] childcare childcare and and education. education.
continued... continued..
> Page Page[13] 13
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## Opportunities Opportunities[for] for[ Adventure,] Adventure, Knowledge Knowledge and and Skills Skills Lid Ltd (a[(a] company company limited[limited] by by guarantee) guarantee)
Notes Notes to to[the] the Financial Financial Statements Statements - - continued continued for for the the Year Year Ended Ended 31 31 March March 2024 2024
## 5; 5. OTHER OTHER INCOME INCOME
|5.
5;|OTHER INCOME
OTHER INCOMEINCOME|||||||
|---|---|---|---|---|---|---|---|
|||||||2024
2024|2023
2023|
|||||||£|£|
||Child nutrition grants
Child nutrition grants|||||3,108
3,108|2,681
2,681|
||Holiday activities and food
Holiday activities and food|||||16,257
16,257|9,224
9,224|
||Preventlon and Early Help
Prevention and Early Help|||||-|1,625
1,625|
||Kickstart Back LO Work grant
Kickstart Back to Work grant|||||-|8,467
8,467|
||Baby sensory play
Baby sensory play|||||6()8
608|1,036
1,036|
||110t lunches
Hot lunches|||||5,267
5,267|2,796
2,796|
||Parent and under five child session
Parent and under five child session|||||-|4,155
4,155|
||Activity Group (Art club)
Activity Group (Art club)|||||-|31
31|
||Children resources and plants
garden area
Children resources and plants forgarden area|||||-|,454
1,454|
||Training Support
Training Support|||||I,500
1,500|.|
||HMRC PAYE Repaytnent Interest
HMRC PAYE Repayment Interest|||||201
201|-|
|||||||26,94
26,941|31,469
31,469|
|6.
6.|SUPPORTcosrs
SUPPORT COSTS|||||||
|||||||Governance
Governance||
|||Management
Management||Finance
Finance||costs
costs|Totals
Totals|
||||£|z||£|3|
||Childcare and education
Childcare and education||16.199
16,199||284
284|6.550
6,550|23,033
23,033|
||Support costs, included in the above, are as ii)llows:
Support costs, included in the above, are as follows:|||||||
||Management
Management|||||||
|||||||2024
2024|2023
2023|
|||||||Childcare
Childcare||
|||||||and
and|Total
Total|
|||||||education
education
£|activities
activities
£|
||Telephone
Postage and stationery
'I'ravelling
Repairs & renewals
()fsted registration
Telephone
Postageandstationery
Travelling
Repairs& renewals
Ofsted registration|||||I .44()
1,595
14
8,384
220
1,440
1,595
14
8,384
220|1,256
2,156
4,573
220
1,256
2,156
-
4,573
220|
||Bad debts
Bad debts|||||684
684|5,089
5,089|
||Retuse collections
Refuse collections|||||I,260
1,260|971
971|
||Depreciation of tangible and heritage assets
Depreciation oftangibleandheritage assets|||||2,602|3,659
3,059|
|||||||16.199
16,199|17,924
17,924|
continued... continued..
> Page Page[14] 14
## Opportunities Opportunities for[iOr] Adventure, Adventure, Knowledge Knowledge and Skills Lid[(a] limited by and Skills Lid (a company company limited by guarantee) guarantee)
> Notes Notes to to the the Financial Financial Statements Statements - - continued continued for for the the Year Year Ended Ended 31 31 March March 2024 2024
6. 6. SUPPORT SUPPORT COSTS COSTScontinued continued Finance Finance
|6.
6.|SUPPORT COSTS
- continued
Finance
SUPPORT COSTS-- continued
Finance||||
|---|---|---|---|---|
||||2024
2024|202.3
2023|
||||Childcare
Childcare||
||||and
and|Total
Total|
||||education
education|activities
activities|
||||£|i|
||Bank charges
Bank charges||284
284|351
35]|
||Governancecosts
Governance costs||||
||||2024
2024|2023
2023|
||||Childcare
Childcare||
||||and
and|Total
Total|
||||education
education|activities
activities|
||||£|£|
||Accountancy Cees
Accountancy fees||1,285
1,285|1,325
1,325|
||Independent examination fees
Independent examination fees||2,387
2,387|2,462
2,462|
||Professional roes
Professional fees||2,878
2,878|262
262|
|||.|6,550
6,550|4,049
4,049|
|qh|NET INCOME/(EXPENDITURE)
NET INCOME/(EXPENDITURE)||||
||Net income/(cxpenditure) is stated after
Net income/(expenditure) is stated after|charging/(crediting):
charging/(crediting):|||
||||2024|2023
2023|
||||£|é,|
||Depreciation
- owned assets
Depreciation -owned assets||2,602
2,602|3,657
3,657|
||Other operating leases
OtheroperatingIcases||16,000
16,000|16,000
16,000|
8. 8. TRUSTEES' TRUSTEES' REMUNERATION REMUNERATION AND AND BENEFITS BENEFITS
The The manager manager of of the[the] charity charity is is also[also] a a[trustee] trustee and and[received] received remuneration remuneration of of £14,135 E14,135 (2023: (2023: £14,895) €14,895) in[in] their[their] role role as as manager. manager. The The Charity[Charity] Commission Commission have have confirmed[confirmed] that that as as the the Memorandum Memorandum and and Articles Articles of of Association Association allow allow for an employee[to] become a director[the][approval] of[the][Charity] Commission[is] not required. for an employee to becomea director the approval of the Charity Commission is not required.
## Trustees' Trustees' expenses expenses
||There were no
trustees' cxpcnses paid for the year ended 31 March 2()24 nor for the year ended 31 March 2023.
There were no trustees' expenses paid for the yearended 31 March 2024 nor for the yearended 31 March 2023.|There were no
trustees' cxpcnses paid for the year ended 31 March 2()24 nor for the year ended 31 March 2023.
There were no trustees' expenses paid for the yearended 31 March 2024 nor for the yearended 31 March 2023.|There were no
trustees' cxpcnses paid for the year ended 31 March 2()24 nor for the year ended 31 March 2023.
There were no trustees' expenses paid for the yearended 31 March 2024 nor for the yearended 31 March 2023.|
|---|---|---|---|
|9.
9.|STAFF COSTS
STAFF COSTS|||
|||2024
2024|2023
2023|
|||£|£|
||Wages and salaries
Wages and salaries|266,625
266,625|284,976
284,976|
||Social security costs
Social security costs|4,154
4,154|3,878
3,878|
||Other pension costs
Other pension costs|2,687
2,687|3,051
3,051|
|||273,466
273,466|291,905
291,905|
continued... continued...
Page Page[15] 15
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## Opportunities tor Adventure, Knowledge | and Opportunities Skills Ltd for[(a] company Adventure, limited Knowledge by guarantee) guarantee) | and Skills Ltd (a company limited by
**----- Start of picture text -----**
|||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Notes|Notes|to|to|the|the|Financial|Financial|Statements|Statements|- continued|continued|
|for the|for|the|Year|Year|Ended|Ended|31|31|March|March|2024|2024|
|9.|STAFF|[COSTS]|continued|
|9,|STAFF COSTS-|continued|
|The|•I'he|average|average|monthly|monthly|number|number|of|of employees|employees during|during|the|the|year|year|was|was|as|as|follows:|follows:|
|2024|2023|
|Full|time|staff|2024|22|2023|7|
|Part|[time]|[staff]|7|21|
|PartFull|time|staff|224|217|
|29|29|28|28|
|No|employees|[received]|emoluments|in|excess|of|
|No employees received emoluments|in excess of£60,000.|
**----- End of picture text -----**
The The full full time time equivalent equivalent is is estimated estimated to to be be 19 19 (2023: 19) 19)
The The Trust Trust considers considers[its] its key key management management personnel personnel comprise comprise the the trustees, trustees, the the charity charity manager manager and and the the nursery nursery manager. manager.[The] The total total employment employment benefits benefits including including employer employer pension pension contributions contributions of of the[the] key key management management personnel were n 7,376 personnel were £37,376 (2023: £37,956), 10. 10. TANGIBLE TANGIBLE FIXED FIXED ASSETS ASSETS
**----- Start of picture text -----**
||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Fixtures|Fixtures|
|and|and|Computer|Computer|
|||Equipment|Equipment|fittings|fittings|equipment|equipment|Totals|Totals|
|COST|
|||AtAdditions|AtCostAdditions|[I]|||April|April|2023|2023|44.481|44.48]£369|369|3,837|3,837|Ae|-|7,981|7,981|£|~|56,299|56,299|£|369|369|
|Disposals|Disposals|-|*|(2,535)|(2,535)|(2,535)|(2,535)|
|At|At|31|[31]|March|March|2024|2024|44,850,|44,850|3,837|3,837|5,446|5,446|54,133|54,133|
|||DEPRECIATION|DEPRECIATION|
|At|At|[|Lt|April|April|2023|2023|31,669|31,669|2st|2,751|7,474|7,474|41,894|41|, 894|
|Charge|[Ibr]|year|2,114|272|216|2,602|
|Eliminated|Eliminated|on|on|disposal|disposal|-|-|(2,535)|(2,535)|(2,535)|(2,535)|
|||At|ChargeAt|[31]|31|March|March for year2024|2024|33,783|33.783|2,114|3,023|3,023|272|5,155|oe216i:|41,961|41,961|2,602|
|eran|scm|ssa|ees|
|NET|NET BOOK|BOOK|VALUE|VALUE|
|At|31|March|2024|814|291|12,172|
|||At 31|March 2024|11,067|814|291|12,172,|
|At|[31]|March|2023|12,812|1,086|507|14,405|
|||At 31|March 2023|12,812|1,086|507|14,405|
|Fixed|[assets]|are|[capitalised]|at|cost,|items|for|less|than|are|not|capitalised.|Children's|equipment|depreciates|
|||Fixed|assets are capitalised|at cost,|items|for less than £200 are not capitalised. Children's equipment|depreciates|
|||very quickly|very|[quickly]|through|[through]|everyday|everyday|use|use|and|and|therefore|thereiOre|is not|not|capitalised|[capitalised]|if|if|the cost|[the]|cost|is|less|less|than|than|£300,|
**----- End of picture text -----**
Page Page[16] 16 continued... continued...
P
## Opportunities Opportunities for for Adventure, Adventure, Knowledge[Knowledge] and and Skills Skills Ltd Ltd (a[(a] company company limited[limited] by[by] guarantee) guarantee)
Notes Notes[to] to the[the] Financial Financial Statements Statements -[-] continued continued for for the the Year Year Ended Ended[31] 31 March March 2024 2024
|11.
11,|DEBTORS: AMOUN'rs FALLING DUE WI'I'HIN ONE YEAR
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|---|---|---|---|---|---|
|||||2024
2024|2023
2023|
|||||£|x3|
||Trade debtors
Trade debtors|||14,706
14,706|9,040
9,040|
||Other debtors
Other debtors|||53
53|186
186|
||Social security and other taxes
Social security and othertaxes|||1,467
1,467|11,869
11,869|
|||||16,226
16,226|21,095
21,095|
|12,
12.|CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR|||||
|||||2024
2024|2023
2023|
|||||£|£|
||Trade creditors
Trade creditors|||3,299
3,299|3,105
3,105|
||Other creditors
Other creditors|||I,583
1,583|1,341
1,341|
|||||4,882
4,882|4,446
4,446|
|13.
13.|ACCRUALS ANDDEFERRED INCOME
ACCRUALS AND DEFERRED INCOME|||||
|||||2024|2023
2023|
|||||£|£|
||Accruals
Deferred income
Accruals
Deferred income|||5,187
3,744
5,187
3,744|4,906
8,395
4,906
8,395|
|||||8,931
8,931|13,301
13,301|
||Deferred income represents pre-school session fees and grants received
Deferred income represents pre-school session feesand grants received||in advance.
in advance.|||
|||||2024
2024|2023
2023|
|||||2|£|
||Opening deferred income
Released
to pre-school session fees andHAF grants in the year
Opening deferred income
Released to pre-school session fees and HAF grants in the year|||8,395
(8,395)
8,395
(8,395)|6,822
(6,822)
6,822
(6,822)|
||Deferred income in the year
Deferred income in the year|||3,744
3,744|8,895
8,895|
|||||3,744
3,744|8,395
8,395|
|14.
14.|MOVEMENTIN FUNDS
MOVEMENT IN FUNDS|||||
|||||Nel
Net||
|||||movement
movement|At
At|
|||At
At|1.4.23
1.4.23|in funds
in funds|31.3.24
31.3.24|
||||£|£|£|
||Unrestricted funds
Unrestricted funds|||||
||General fund
General fund|151,941
151,941||(18,699)
(18,699)|133,242
133,242|
||TOTAL FUNDS
TOTALFUNDS|151,941
151,941||(18,699)
(18,699)|133,242
133,242|
continued... continued,
Page Page 17[17]
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## ()pportunities Opportunities for ror Adventure, Adventure, Knowledge Knowledge and and Skills Skills Ltd Lid (a[(a] company company limited limited by by guarantee) guarantee)
Notes Notes to[to] the the Financial Financial Statements Statements - - continued continued for for the the Year Year Ended Ended 31 31 March March 2024 2024
> 14. 14. MOVEMENT MOVEMENT IN IN FUNDS FUNDS - - continued continued Net movement[in] funds, included[in][the] above are as follows: Net movement in funds, included in the above are as follows:
|Net movement [in] funds, included
Net movement in funds, includedmovement in funds, includedin funds, includedfunds, includedincluded|included [in] [the] above are as follows:
Net movement in funds, includedmovement in funds, includedin funds, includedfunds, includedincluded in the above are as follows:the above are as follows:above are as follows:are as follows:follows:|follows:
in the above are as follows:the above are as follows:above are as follows:are as follows:follows:|||
|---|---|---|---|---|
|||Incoming
Incoming|Resources
Resources|Movement
Movement|
|||resources
resources
£|expended
expended
£|in funds
in funds
£|
|Unrestricted funds
General luncl
Unrestricted funds
General fund||324,341
324,341|(343,040)
(343,040)|( 18,699)
(18,699)|
|TOTALFUNDS
TOTAL FUNDS||324.341
324,341|(343,040)
(343,040)|(18,699)
(18,699)|
|Comparatives for movement
Comparativesformovement|in funds
infunds||||
|||Net
Net||
|---|---|---|---|
|||movement
movement|At|
||At 1.4.22
At 1.4.22|in Funds
in funds|31.3.23
31,3,23|
||£|3|£|
|Unrestricted funds
Unrestricted funds||||
|General fund
General fund|170,117
170,117|(18,176)
(18,176)|151,941
151,941|
|TOTAL FUNDS
TOTAL FUNDS|170,117
170,117|(18,176)
(18,176)|151,941
151,941|
|Comparative net movement in tunds, included
Comparative net movement in funds, included|in the above arc as fOllows:
in the above are as follows:|||
||Incoming
Incoming|Resources
Resources|Movement
Movement|
||resources
resources|expended
expended|in funds
in funds|
||£|£|£|
|Unrestricted funds
Unrestricted funds||||
|General fund|339,680
339,680|(357,856)
(357,856)|(18,176)
(18,176)|
|TOTAL FUNDS
TOTALFUNDS|339.680
339,680|(357,856)
(357,856)|(18,176)
(18,176)|
> A A current current year year 12 12 months months and and prior prior year year 12 12 months months combined combined position position is is as as follows: follows:
|||Net
Net||
|---|---|---|---|
||At 1.4.22
At 1.4.22|movement
in tunds
movement
in funds|At
31.3.24
At
31.3.24|
||£|L|£|
|Unrestricted tinnds
Unrestricted funds||||
|General lillid
General fund|170,117
170,117|(36,875)
(36,875)|133,242
133,242|
|TOTAL FUNDS
TOTALFUNDS|170,117
170,117|(36,875)
(36,875)|133,242
133,242|
continued... continued...
Page[18] Page 18
## Opportunities Opportunities for ror[Adventure,] Adventure, Knowledge Knowledge and and Skills Skills Ltd Lid (a[(a] company company limited[limited] by by guarantee) guarantee)
Notes Notes to[to] the the Financial Financial Statements Statements - - continued continued for for the the Year Year Ended Ended 31 31 March March 2024 2024
## 14. 14. MOVEMEN'I' MOVEMENT[IN] IN FUNDS FUNDS -[-] continued continued
A A current current year year[12] 12 months months and[and] prior[prior] year year[12] 12 months months combined[combined][net] net movement movement in[in] funds,[funds,] included[included] in[in] the[the] above above are are as as follows: follows:
|||Incoming
Incoming|Resources
Resources|Movement
Movement|
|---|---|---|---|---|
|||resources
resources|expended
expended|in funds
in funds|
||Unrestricted funds
Unrestricted funds|£.|£|£|
||General limd
General fund|664,021
664,021|(700,896)
(700,896)|(36,875)
(36,875)|
||TOTAL FUNDS
TOTAL FUNDS|664,021
664,021|(700,896)
(700,896)|(36,875)
(36,875)|
|15.
15.|RELATED PARTY DISCLOSURES
RELATEDPARTYDISCLOSURES||||
> There There were were no no[related] related party party transactions transactions for[for] the[the] year year ended ended 31[31] March March 2024.[2024.]
16. 16. ULTIMATE ULTIMATE CONTROLLING CONTROLLING PARTY[PARTY] The The trustees trustees consider[consider][the] the board board of[of] directors directors to[to] be[be] the[the] ultimate ultimate controlling controlling party. party.
> 17. 17. GOING GOING CONCERN CONCERN
> The The Charity's Charity's[financial] financial position position[has] has been been negatively negatively impacted impacted from from the[the] rising rising costs costs which which is is not not supported supported by by the[the] government government funding.[funding.] In[In] the[the] opinion opinion of of the[ the] trustees[trustees] the[the] Charity[Charity] is[is] expected[expected] to[to][remain] remain a[a] going[going] concern concern for[for] at[at] least least
> 12 12 months months from from the the date date of of signing signing of of these these financial financial statements, statements.
> Page Page[19] 19