Company reglstration number. 06851649 Charlty Number: 1130074 LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Tradlng as LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Unaudlted flnanclal statements 31 March 2024
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Contents Pago Directors and other informallon Directors report Statement of Comprehensive Income Statement of linanclal posltion statement of changes In eqully Notes lo the financial statements 7.10
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Dlrectors and other Informatlon Dlrectors Gi115an Smith Karen Isgrove Danielle Brodley Lauren Klng Ron Brodley Stephen Sale Company number 06851649 Charily Number: 1130074 Buslness address Tend8rlng Educatlon C6nlre J8ywl¢k Lane Clacton On Sea Essex C016 88E Page I
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Dlrectors report Year ended 31 March 2024 The directors present Ihoir report and the unaudited flnancial stalemenls of the company for the year ended 31 March 2024. Directors The directors who served Ihe company during the year were as follows: Gillian Smith Karen Isgrove Danlelle 8rodl6y Lauren Klng Ron Brodley Slephen Sale Small company provlslons Thls report has been prepared In a¢cordanoe with the provlslons appllcable to companles enlllled to the 3mall oompanies exempllon. This report was approved by the board of dlre¢lor$ on by., end slgned on behalf of Ihe board O](,ocklo4 Karen Isgrova D1clOr Danielle Brodley Director Page 2
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Statement of comprehensive income Yoar ended 31 March 2024 2024 2023 Not8 Turnover Cost of sales Administrative expenses Other operaling Income Operatlng profltl(loss) 706,132 606,772 (726,331) 60,QQO (665,8891 39,801 (59,117) Other interest reGelvable and similar Income Profltl(loss) before taxation 1,841 41,842 677 {58,440) Tax on proflV(loss) Profltl(Ios8l for the flnanclal year and total comprehenslve Income 41,642 <58,440) All tho aclivllies of the company are from continulng operallons. The notes on pages 7 to 10 form part of these flnancial statements. Page 3
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED statement of financlal posltlon 31 March 2024 2024 2023 Note Flxed assets Tangible 8ssel$ 321,898 56,080 321,898 56,080 Current assets Debtors Cash at bank and in hand 22,674 102,059 19,233 334,661 124,733 353.894 Credltors: amounts falllng due wlthln one year (2211 (5,206) Nel Current assets 124,512 348,688 Total assels less current Ilabilltles 446,410 404,768 Net assels 446,410 404,768 Capltal and reserves Called up share capllal Profit and loss account 446,409 404,767 Sharoholders funds 446,410 404,768 For Ihe year ending 31 March 2024 the ¢ompany was entitled to exemption from audlt under section 477 of tho Companles Act 2006 relating to small companies. Dlrectors responsibllilles,, Th6 members havg nol requlred the company to obtain an 8udlt of its financial slatemenls for th& year in question in accordance with secllon 476: The directors acknowledge their responslbilitles for complying wilh Ihe requirèments of the Acl with respe¢t lo accountlng records and the preparalion of financial statements. These finan¢lal statements have been prepared In accordance with the provlsions applicable lo companies subject lo the small companies, regime and In accordance with Section 1A of FRS 102 'The Financi81 RepDrllng Standaid applicable In the UK and Republic of Ireland,. Tho noles on pages 7 to 10 fom part of Ihese flnanclal statements. Page 4
LfTTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Statement of flnanclal position (contlnued) 3q March 2024 These financial statements were approved by the board of directors and authorlsed for Issue on and are signed on behalf of the board by., Karen Isgrove Director ¢ifdLo4 Danielle Brodley Director Company reglslration number.. 06851649 Charlty Number.. 1130074 The notes on pages 7 to 10 form part of these financlal statements. Page 5
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Statem&nt of changes In equlty Year ended 31 March 2024 Called up Profil and sharè loss capital account Total At 1 April 2022 463,207 463,208 ProllU{loss) for tho year Total comprehenslve In¢ome for the year (58,440) (58,440) (58,440} {58,440) At 31 March 2023 and 1 Aprll 2023 404,767 404,768 Profiulloss) for the year Total ¢omprehenslve Income for the year 41,642 41,642 41,642 41,642 At 31 Mar¢h 2024 446,409 446.410 Pagg 6
LirrLE PALS CHILDREN'S CEt4TRE NURSERY LIMITED Notes to the flnanclal slatements Year ended 31 March 2024 General Informatlon The company is a private company limited by shares, registered in The address of the registered officè Statement of compliance These financlal sl8temenls have beon prepared In compliance with the provislons of FRS 102, Section 1A, 'The Financial Reporting Standard applicable the UK and Republic of Ireland,. Accountlng policles Basls of preparatlon The financial stalemenls have been pr8pared on the hislorlcal cost basls, as modlfled by the revaluation of ¢¢rtain financlal assets and liabllities and investment properties measured al f8ir value through proftt or loss. The financlal statements are prepared in sterllng, whlch is the funcllonal crneY of the entity. Turnover Turnover is measured at the falr value of the consideration recelved or recelvable for goods 5upplled and Sei¢9S rendered, nel of dlscounls and Valu8 Added Tax, Revenue from the sale of goods is recognlsed when th& significant risks and rewards of ownership have Iransferrod lo the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably,. It is probable that the associated economic beneflls will flow lo the entity; and the costs Incurred or lo be Incurred in respect of11)e transactions Lan be measured reliably. Taxatlon The laxatlon expense represents the 899rogale amount of current and deferred lax recogni59d in the reporting period. Tax is recognised In the slalement of comprehensive income, except lo the extent that It relates to items re.cognised in other comprehensive income or directly li) capital and reserves. In this caso. tax is rècognised in other comprehenslve In¢ome or dircctly in capital and reserves, respeclively. Current tax Is recognlsed on taxable profit for Ihe current and past periods. Current tax Is measured at the amounts of tax expected to pay or recover using the lax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax Is recognlsed in respect of all tlmlng dlfferences al Ihe reporting date. Unrelieved tax losses and other deférred lax assets are recognised to thè extent Ihat il Is probab16 that they will be recovered against tho reversal of doferred lax118bililles or other future taxable profits. Deferred lax is measured using the tax rates and laws that have been énacted or substantively enacted by the reporting dale that are expected to apply to the reversal of the liming difference. Page 7
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Notes to tha financlal statements (contlnued) Year énded 31 March 2024 Tanglble assets Tanglble assets are inillally recorded at cost, and are subsequently staled at cost less any accumulated depreciation and Impalrmenl losses. Any tangible assets Carried at revalued amoun15 are recorded at Ihg fair value al the dale of r8valuation less any subsequent accumulated depre¢lalion and subsequent accumulaled impairment losses. An Increase in the carrying emount of an asset a6 a rèsult of a rovaluatlon, is recognised In other comprehenslve income and accumulatgd In capital and reserves, except to the extent it reverses a revaluation decrease of thè same asset previously recognised in profit or loss. A decrease in the Carrying amount of an asset as a result of revaluallon is recognised in other comprehenslve income to the extent of any prevlously recognised revaluation Increase accumulated In capllal and reservos in respect of that asset, Where a revaluation decrease exceeds the a¢¢umulated revaluatlon gains accumulated in capital and reserves In respect of that asset, Ihe excess sh811 be recognised in proflt or loss, Dopreclatlon Depre¢lalion is calculated so as to wri18 off the cost or valuation of an asset, less Its residual value, over thè useful economic Ilfe of that ass81 as follows.. If there Is an indlcation that there has been a signSficant change in depreciation rate, useful Ilfe or residual value of tangible assets, the depreciation is revised prospectively to refle¢l the new esllmates. Impalrment A review for Indl¢alors of Impairment 15 Carrled out al each reportlng dale, wllh the recov8rable amount being e3llm81ed where such indlcatois exist. Where the carrying value exceeds the recoverable amount, Ihe assel is Impaired ac¢or(ilngly. Prior impairments are also revlewed for possible reversal at each roporllng dale. When it Is not possible lo estimate the recoverable amount ol gn indivldual ass&t, an estimate is made of the recoverable amount of the cash-generating unil lo which the asset b81ongs. The cash-generating unit is the smallest identiflable group of assets that includes the asset and generates cash Inflows that are largely Indopendent of the cash inflows from other assels or groups of assets. Government grants Government grants are recognlsed at the fair value of the asset recelved or recelvable. Grants are not recognlsed until there is reasonable assurance that the company wlll comply with the condilions allaching lo them and thg grants will be recelved. Government grants are recognised uslng the accrual model and the performance model. Under the accrual model. government grants relating to revenuo are recognised on a systematlc b8SiY over the perlods in which Ihe company recognises the related costs for which the grant is in16nded lo compensate. Grants Ihal are receivable as compensation for exponses or losses alre8dy Incurred or for the purpose of giving immediate financial support to the enlily wSth no fulure related ¢ostS are recognised in income In Ihe period in which11 becomes receivable. Grants relating to assels are recognised In Income on a system8ti¢ basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognlsed as deferred income and not deducted from the carrying amount of the asset, Under the performance model. where the grant does not Impose specified future performance-relaled conditions on the recipient, It Is recognlsed in Income when the grant proceeds are received or receivable. Where the grant does Impose speclfied future performance-related conditions on Ihe recipient, 11 Is recognised in income only when the performance-related conditions have been met. Where grants received are prSor to satisfying the revenue recognilion Griteria, they are recognised as a liability. Page 8
LirrLE PALS CHILDREN'S CENTRE NURSERY LIMITED Notes to the flnancial statements (¢ontlnued) Year ended 31 March 2024 Flnanclal instruments A financial asset or a financlal liability is COgnised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are Inllially recognised at the Iransaclion price, unless the arrangement conslilules a financing transacllon, where il is recognised at tho present value of the future payments discounted at a market rate of interest for a slmilar debt Instrument. Debt instruments are subsequently measured at amorllsed cost, Where investments in non.converllble preference shares and non-pullable ordlnary shares or preference shaS are publicly tradod or Ihelr fair value can otherwis¢ be measured reliably, the investmont is subsequently measured at fair value with changes In fair value recogni5ed in profil or loss. All other such Inveslmenls arg subsequenlly measutsd al cost less impairment. Other financial inslrumenls. including derivatives, are Inlllally reco9ni$ed at falr valuo. unless payment for an asset Is deferred beyond normal business terms or f5nanced at a rate of Inleresl that Is not a market rate, In which case the asset is measured al the present value of the fulure payments dlscountod al a market rate of interest for a similar debt Instrument. Other financial inslrljments are subsequently measured al falr value, wllh any changes r6cognised in profil or loss, with the exceplion of hedging instruments in & deslgnated hedging relationship. Financlal assets that aro measured al Gosl or amorlised cost are rev16wed for objective evid6nce of impairment al the end of each reporting dale. If there 1$ obje¢live evidence of Impalrrnent, an impalrment loss is recognlsed in profit or loss immediatèly. For all 6qtsity instruments regardless of signlfScance, and other financial assols that are individually significant. these are assessed individually for impairment. Other financlal assels or either assessed Individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairmenl are recognised in profit or1055 immedialoly, to the exlenl that th6 reversal do&s not result In a ¢arrylng amount of tho financlal asset that exceeds what the carrying amount would have been had the impalrment not previously been recognlsed. Defined ¢ontrlbutlon plans Contribullons lo defined contribution plans are recognised as an expense In the period In whlch the related service Is provided. Prepaid contrlbulions are re¢ognised as an asset to the extent Ihal the prepaymenl will lead lo a reduction in future payments or a oesh refund. Whon contributions are not expected to bo settled wholly wllhln 12 monlhs of the end of the reporting dale in which the èmployees render thè related serv5ce, the Ilabillly is measured on a discounted present value basis. The unwindlng of the discount is recognlsed in finance costs In profll or loss in the period in which il arises. Employee numbers The average number of persons employed by the company during the year amounted lo 29 (2023.. 29). Profltnoss before taxatlon Profitlloss before tsxalion Is staled after ch8rglngl(credlling}'. 2024 2023 Deprecistlon ol tanglble assels 29.207 23,214 Page 9
LITTLE PALS CHILDREN'S CENTRE NURSERY LIMITED Notes to the flnanclal statements (contlnued) Year ended 31 March 2024 Tanglble assets Freehold Fixlures, property lillings and equipment Motor vehicles Total Cost At 1 April 2023 Addllions 10,363 260,000 62,906 16,740 62,889 21.594 136,158 298,334 At 31 March 2024 270.363 79,646 84,483 434,492 Depreclatlon At 1 April 2023 Charge for the year 10,363 42,738 14,255 26,977 18,261 80.078 32,516 At 31 March 2024 10.363 56,993 45,238 112,594 Carrylng amount At 31 March 2024 260,000 22,653 39,245 321,898 At 31 March 2023 20,168 56,080 Debtors 2024 2023 Trade deblors Other debtors 14,232 8,442 14,232 5,001 22,674 19,233 Credltors: amounts falllng due wlthln one year 2024 2023 Soclal securlty and other taxes Other creditors 221 221 4.985 221 5,206 Page 10
Little Pals Children's Centre Nursery Annual Report of the Trustecs for the year From l April 2023 to 31 March 2024 Reference and Administration Liltle Pals Cliildren's Centre Nursery Registered Company No. 6851649, Registered Charity No. 1130074 Registered Office: Clacton Coastal Academy, Jaywick Lane, Clacton-on-sea, Essex C016 8BE Trustees for the year 202312024.. Gillian Smith, Karen Isgrove, Danielle Brodley, Lauren Kinb, Ron Brodley, Stephcn Sale. Structure, Governance and Managcment. Littlc Pals Children's CLntre Nursery is a Limited Company for charitable purposes. Objectives and Activities. Through operatingF a pre-school or other facilities to enhance the development and education of the children primarily under statutory school age within the Tendring District and the surroundingF area by encoura&Ting parents to undcrstand and provide for the needs of their cliildrcn through community &7roups and by: (a) Offei'iiig7 appropriate play t"acilities and trainingi courses, tog?ether with the right of parents to take respoiisibility for and to become involved in the activllies of such g?roups, ensuring that such gyroups offer opportunities for all children whatever their race, culture, religion, means or ability. (b) Encoui'a&Fing? Ihe study of the needs of such children and their families and promoting public interest in aiid recognition of such needs in the local areas. (c) Instig7alingy and adherin&F to and furthering the aims of the charity. Review of the year. The cost-of-living crisis has still be dominant throu&yhout this ycar, and as the year progressLd the challen&Fes, we faced iiicreased, with the cost of fuel, and sliortages of gas spirallin&i our costs. As the year has progressed and the cffects of thc cost of living crisis projected on to our families, we respondcd by sccuring sevcral g7rants lo liclp young families in need in terms of their general health and wellbeing7 and our staff have been very active in supplying food, support and assistance where required to these families in nccd. The klemmington House Centre which we opened in Jaywick, which is one of the Inost deprived wards in EnLylaiid, is secured for the longi term and we have been carrying out extcnsive improvements to the building and the provision of services as part of making it a Centre of Excellence and this is provingy to be successful in part in meetingy some of the needs of this very deprived area. Our main aim was to secure the long term future of Little Pals and this year we have purchased oui. own building to provide children and families with the opportunity to acccss Forest School at oui. new site. Tlie highest priority as always is to maintain an excellent standard of service for children and parents/carers, gFood staff rclations and creatiiig a robust and efficient management structure whilst maintaining financial viability. Finance The financial position in operational terms is good and we have a strong reserves policy to develop our service further and also to cover variations in a very competitive market. We continue to exercise tight controls on expenditure and maximise income. Board of Trustee4 for The Lt Pals Children's Centre Nur8cry