Company No. 05850668 Charity No. 1130993 OAK HILL COMMUNITY NURSERY (Llmlted by Guarante¢) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
OAK HILL COMMUNITY NURSERY CONTENTS Pagg Rgferencg and Admlnlstration Details Trustees Report Statement of Trustses. Responsibilities Ind•p•ndènt Auditor's Report ststernent of Financial A¢tivitlOS 10 Balance Sheet 11 Cash Flow Statement 12 Notes to th8 Accounts 13-20
OAK HILL COMMUNITY NURSERY REFERENCE AND ADMINISTRATION DETAILS Status Company Limited by Guaranlee No. 05850668 Registered Charity No. 1130993, regislered 6 Augusl 2009 The Company's 9overning documenl is its Memorandum and Articles of Association Secretary and Reglstered Offlce: Denise Slultz 29 Wallbutton Road Brockley London SE4 2NX Trustees: Denise Stu112 John Fowler Sandra M2rgolies Gwenlian Evans Calherine Braganza Key Management: Nursery Manager: Deputy Manager: Paula Lane Samantha Cordwell Auditor: Azets Audit servIs Chartered Accountanls 2nd Floor Regis House 45 King William stet London EC4R 9AN Bankers: National Westminster Bank plc 87 Sidcup High Street Sidcup Kent DA14 6DL
OAK HILL COMMUNITY NURSERY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 The Truslees present their report and the audited financial statements of the charity for the year ended 30 September 2024. The trustee5 have adopted th8 provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" IFRS 1021 in preparing the 8nnual report and financial statsmtrnts of the charity. Objectives and activities A year of some ongoing challenges Oak Hill staff retx)rt that post-lockdown effects are still being felt in terms of children's social and communication development. Consequently staff work hard to include activities that support children's social development. Weekly updates continue to be circulated to infOn parents and Carers of the children's weekly activities and any in-house or govemmental updates. Once again special thanks are due to Paula and her team for the ongoing leadership and team efforts throughout some very difficult and demanding lime5. Charitable purposes and aims The nursery's primary charitable purpose is the advancement of the education of chIldn aged from birth to ffve years whose parentslcarers live or work locally. This it does by offering appropriate play and learning facilities with fees as low as possible. The aim of low fees is to support families who might not otherwise be able to afford high-quality Childcare and education in order to seek or sustain employment andlor take an active role in community life. The nursery continues to offer the opportunity to parents and carers to become involved in the activities of the nurserylday care provision and has been particulady successful in offering occasion81 evening parent and child meetings e.g. to support pre-reading and literacy activities it also participates in an apprenticeship scheme. The nursery offers supt)ort and advice to parents to support them in their Child's leaming 8nd development. Throughout 2024 a weekly emailed newsleller has been used to share details of the various activities that the children have been able to enjoy. Approach to fvndraising There are two aspects lo fundraising at the nursery. In most years the staff organise a fundraising evenl, a Summer. Monitoring and evaluation forms part of the annual appraisal of the Deputy Manager whose responsibilities include fundraising. The Deputy Manager's responsibilities include the monitoring and evaluation of the nursery's fundraising activities. In addition to fund-raising for the nursery itsew, there are oc(2sions when the nursery raises funds for outside causes. Arrangements are made lo collect gifts in kind as well as money. Parents are told in advance via weekly updates. These tend lo be one off activities with the nursery acting as a convenient hub. The nursery keeps its fees and costs as low as it can, aware of the financial pressure that childcare can pose so it is careful to ensure that fundraising activities remain truly voluntary. No complaints have been recorded. Activities.. childcare The nursery is designed to provide 55 places to local families been the hours of 8.00 am and 6.00 pm Monday to Friday. There are spaces for up to 15 babies from 6 months to 2 years (Snowdrops) and 40 spaces for 2 10 5-year- olds (Sunbells). Children of all abilities are given an equal opportunity to enjoy and learn, with the highest level of childcare and education. Places are either full-time or part-time, for loi*l parentslcarers who need flexibility in their childcare arrangements to fft around their working or community life. Spaces are allocated on a first comelfirst served wailing-lisl basis to ensure equality and faimess. Fees are kept low and set in order to support and attract low-income familles, who can then sustain or seek employment. The nursery offers some fully funded places to eligible parents,. although Ihis does involve additional work for nursery staff, the main bureaucratic burden falls on the parents themselves. Healthy well-balanced meals are prepared and cooked from our own kitchen. All allergy and special dietary requirements are cater8d for within feasibility. The Nursery cook continually experiments with new recipes lo provide the children with a range of nutritious culturally diverse meals on a rotating menu basls. The children have three meals a day. with a healthy snack in beeen meals.
OAK HILL COMMUNITY NURSERY TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Objectives and activities - continued Activities.. education The nursery implements the Early Years Foundation Stage {EYFSI curriculum 81ongside spontaneous planning. The staff team provide the children with activitses around the children's interests and their leaming needs. These are evaluated in order lo ascertain the individual child's developmental stage. The nursery operales a key-person system where members of staff work with a small group of children, supporting them to build relationships, feel safe and secure and build a relationship with the parenls. Staff make sure that the needs of the child are being met and regulady meet with and report to parents on their child's progress. In March 2024 the nursery was inspected by Ofsted and once again were assessed as Good in all categories. Activities.. family support The nursery staff team supports families by facilitating and sign-posting parents to training and support opportunities on aspects of childcare, learning and development. The nursery supports falhers in particular by encouraging them to lake a more active role in their children's upbnnging. The manager and deputy provide additional support to the parents in Ihe care and education for their child, especially in regards to key transitions. Activities." staff and volunteer training The nursery in (x)njvnction wtih colleges, universities and training providers. provides a training and development base for volunteers and students who seek lo establish a career early years care and education, soaal work or paediatric nursing. They afe supported through a mentor arrangement and regular supervisions to develop their skills and learning The nursery welcomes students for work experien primarily from the 6th fomi u)Ilege situated next door and also from other Lewisham borough schools and colleges. Public benefit The Trustees of Oak Hill Nursery have cnmplied wth the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charily Commission. The Charity's objectives are the advanment of education by offering appropriate play and leaming facilities and by offering the opportunity for parents and carers to take responsibility for and to beu)me involved in the nursery. The Trustees consider that Oak Hill's principal activities and aims, described on page 2-3 of this report learty years care, education. family support and training. development of staff in early years practices). are con51Stent with the Charity's objectives. The beneficiaries of the Charity are children of familieslcarers living or working localty. The Charity charges a fee for its core services. keeping fees are kept as low as possible to benefit families who would otheiSe be unable to afford childcare, lo enable them to sustain or seek employment. or maintain active community The Earfy Leaming Entitlement allows Oak Hill Nursery to offer provision lo those who qualify but this entitlement is only sufficient to cover school hours and temis rather than the nursery's more extensive provision. Achievements and performance Chlldcare and educatlon The Seeds of Empalhy progrdmme ntir$UeS to be of influence in the nursery. The nursery staff have had both in- service and outsoijrced training on spontaneous planning as a means of enhancing the childn,$ experiences and development and this training is demonstrably influencing practsce. Staff continue to implement the training received on 'Natural Thinkers, which is similar to The Forest School ethos. Family support The Nursery Man8gerlSpecial Educational Needs and Disability Co-ordinator (SENDCol continue to regularly support families with children with additional and or special needs in accessing 1-1 support, funding or specialist support.
OAK HILL COMMUNITY NURSERY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Objectives and actlvitie8 - continued Staff and volunteer development Volunteers have been very helpful this year In improving the appearance of the flower be(Is thal face Wallbutton Road and there are plans for this to continue in the growing season. Oak Hill places considerable emphasis on staff growth and development with the manager and deputy provldlng in house training and off-site training with both proving posltive. The Nursery takes part in an apprenticeship scheme and actively encourages all staff lo regularly assess their professional development and practice. Flnancial review Currently all training for staff has to be paid for and h85 been economically sourced from different providers to continue lo offer the staff members appropriate continued professional development. Nursery c051s, play materials and OL*tings increased as the nursery scaled up the extent of its charitable aclivilies during the year. Premises, office and central costs were static. Maintenance problems have Ix)ntinued to arise too often and requests have been passed around from department to department. The landlord can seek to pass on as far as possible the maximum proportion of m8intenance and repair costs. While this is understandable. all tcx) often it has had the effect of in¢re8sing the time taken to secure necessary repairs. The system of using only an approved contractor can prove slow and too much nursery staff time has been laken up wlh progress chasing. The Charity recorded a defiat of £22.851 {2023.' surplus of £39,035) during the year. increasing the unrestricted reseTve to £311,710 (2023.. £334.561) of which £17,000 has been designated toward future IT upgrades and repairing the garden. Reserves pollcy The Board conlinues to create adequate reserves to enable the Charity to meet any extraordinary payments and unforeseen expenditure. Free reserves {excluding fixed assets) amounted to £290.017 at the year end. The reserves is set at 6 months expenditure to refle the absence of any capital assets in an organisation such as Oak Hill. Risk management The Trustees can confirm that the major risks, to which the Charity is exposed, as identified by Trustees. have been reviewed and systems or procedures have been established lo manage those risks. During 2024 three main risks were identrfied for particular monitoring.. The increased cost of using agencies to cover vacancies or to find perynanent replacement staff. The local shortage of trained and experienced staff. The time taken to get maintenance works agreed by the landlord. Arrangemenls were made to mit¢gate these risks as follows: Monitoring costs and ensuring Lewisham fulfilled its duties as landlord sufficienuy promplly. Maintaining a sufficient pool of bank staff to cover some short tenn absences. Supporting staff undertaking further career development. However, it must be reported that the year has been characterised by recurring difficulties caused by landlord perfomiance that has been less than satisfactory particularfy in relation to maintenance issues. Future costs The charity has received the support of Lewisham Council for many years. The level of nt is subject to negotiation with the Council and the Board is actively exploring how the nursery can remain financially viable whilst preserving its charitable aims of maintaining Iow•COSt childcare and education to low-income families. Oak Hill continues to keep salaries under review, bearing in mind the need for planning towards all staff receiving the Real Living Wage as minimum and maintaining pension contributions. A fees in¢ase in 202314 funded some staff salary increases but the situation is being kept under review in order lo ensure that Salaries 8re high enough to attract and relain staff.
OAK HILL COMMUNITY NURSERY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Plans for the future The business plan aims to find new sources of income to help fund the Charity's activities in addition to fee income. The Charity aims to retain its position as a Iow-CQSt provider of high quality child¢a. Local authority cutbacks continue to create a more volatile financial environment and the Trustees conb'nued to look at all options. It has nevertheless proved possible to considerways in which the whole site could be used more effectively forlhe benefit oflhe community Negotiations are ongoing. The nursery gained charitable status in 2009. The management and govemance sy51ems were Ihen updated.. The Board's rewew of the Charity's governance arrangements and financial systems was completed in July 2019 and the vised Articles of Association received Charities Commission approval in 2020. The Board wll be keeping recruitment to the nursery under constant review. Recruitment was healthy for September 2023,. However shortage of slaff in Seplember 2023 meanl that the nursery was not able to offer a place to every child on its waf(ing list. It is a situation which the Manager will be continuing to monitor Structurey governance and management Trustees of the Charity The directors of the charitable company are its trustees for the purposes of charity law. The trustees who have served during Ihe year and since the year end were as follows= Gwen Evans Catherine Brdganza John Fowler Sandra Margolies Denise Stultz None of the Trustees had an interest in any (x)ntr8Ct or transaction during the year under review. Status The nursery is constituted as a company limited by guarantee and was granted charitable 51atus on 06 August 2009. The Charity's governing document is contained in its 2020 Articles of Association. Company membership Trustees are co-opted or can stsnd for election at the AGM. Delegation The day-tQ-day management of the nursery is delegated lo Paula Lane, the Nursery Manager and the Deputy Manager Samantha Cordwell. The management team work with a close-knit tearn of21 permanent staff, and rf necessary agency workers. There is a robust system of staff development and support in place led by the manager and depuly. The staff members receive regular supervisions. There ar8 regular staff meelings and the senior team meet once a month for support and development. The Nursery Manager reports regulady to the Trustees and is able to call upon them at short notice in any contingency. The strategic direction and development of the nursery is a matter for the Leadership Team consisting of the Nursery Manager, Deputy Manager and the Trustees as is Ihe level of fees set for service users. Salaries are kept under regular review with the Manager presenting proposals to the Board of Trustees for discussion. It is likely that further salary Inease$ wll be needed in 2025. Relationships The nursery has buill good relationships with local schools, colleges and universities and regulady has students complete their work placements at the nursery. The Children's Centre rationalised its use of local premises and has vacated the front of the building,. consullation about future was successfully undertaken by the borough and negotiations about future use are in progress although there is some conftict beeen Oak Hill's charitable objecbves and Lewisham's need to maximise income from an asset.
OAK HILL COMMUNITY NURSERY TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Statement of trustees, responsibllitles The trustees (who are also directors of Oak Hill Community Nursery for the purposes of company law) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepled Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the State of affairs of the charitable (x)mpany and of the incoming resources and application of resources. including the income and expendilure. of the charitable company for the year. In preparing these finanaal statements, the trustees are required to.. select suitable a¢utIng policies and then apply them consistently.. observe the melhods and principles in the Charities SORP 2015 {FRS 102). make judgements and estimates that are reasonable and prudent.. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial slalements-, prepare Ihe ac(x)unls on the going nrn basis unless it is inappropriate to presume that the charitable rx)mpany will (x)ntinue in operalion. The trustees are responsible for keeping adequate accounting records Ihat disclose wth reasonable acLuf8cy at ary lime the financial position of the charitable cx)mpany and enable them to ensure that the financial statements comply wtth the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charitable company and hen for taking reasonable steps for the prevention and dete¢tion of fraud and other irregularities. In so far as the trustees are aware.. the is no levant audit information of which the charitable company's auditor is unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit infomation and lo establish that the auditor is aware of that infomiation. This report has been prepared in 8c¢ordance with the special provisions of Part 15 of the Companies Act 2006 relating to smaller entitses. Approved by the Board and signed on its behaff: John Fowler, Trustee Date.. 24 June 2025
OAK HILL COMMUNITY NURSERY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OAK HILL COMMUNifi NURSERY Oplnlon We have audited the financial statements of Oak Hill Community Nursery (the 'charitable company'l for the year ended 30 September 2024 which comprise of the stslemenl of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, induding a summary of significant a¢wunting policies. The financial reporting framewotk that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, incEuding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinlon. the flnancial statements: give a true and fair view of the state of the charitable company's affairs as at 30 September 2024 and of its incoming resour$ and application of resources, for Ihe year Ihen ended., have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice" and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs {UKII and applicable law. Our responsibilib'es under those standards are further described in the Auditor's responsibilities for the audit of the financial stalements section of our report. We are independent of the charitable (x)mpany in accordan wi(h the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard and the provisions available for small entities, in Ihe circumstances set out in note 2 to the financial statements. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihat the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conclusions relating to going concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK) require us to report to you where.. the Iruslees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate., or the trustees have not disclosed in the finanaal statements any identified material uncertainties that may cast significanl doubt about the ¢haritsble company s ability to continue to adopt the going concem basis of acix>unting for 2 period of at least twelve months from the date when the financial statements are author¢sed for issue. Other information The trustees are responsible for the other information. The other information comprises the information included in the anriual report, other than the financial stalements and our auditor's report thereon. Our opinion on the financial ststements does not cover the other information and. except to the extent othemse expliryuy stated in our report, we do not express any form of assurance conclusion thereon. In connection with ouraudit of thefinancial statements, our responsibility is to read the otherinform8tion and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or olherwise appears tg be materially misstated. If we identify such material in(x)nsistencies or apparent material misstatements, we are required to determine whetherthere is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other infomation. we are fequired to report that fact. We have nothing to report in Ihis regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audrt.. the information given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistenl wlh Ihe financial slalemenls.. and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements.
OAK HILL COMMUNITY NURSERY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OAK HILL COMMUNITY NURSERY Matters on whlch we are requlred to report by exception In the light of the knowledge and understanding of the charitable CLJmpany and its environment obtained in the wurse of the audit, we have not identified material misstatements in thè directors, report included within the trustees, report. We have nothing to report in respect of the followlng matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate a¢UntIng records have not been kept, or retums adequate for our audit have not been received from branches not visited by us,. or the financial slalements are not in agernent with the accounting records and retums., or certain disclosures of trustees. remuneration specified by law are not made", or we have not received all the information and explanations we require for our audit,- or the trustees were not enlilled to prepare the financial statements in accordan with Ihe small companies regime and take advantage of the small companies. exemptions in preparing the trustees, report and from the requirement to prepare a strategic report. Responsibilitie$ of trustees As explained more fully in the trustees. responsibilities statement, the trustees {who are also the directors of Ihe charitable company for Ihe purposes of ¢ompany law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal cx)ntrol as the trustees detemine is necessary to enable the preparation of financial ststements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees afe responsible for assessing the charitable company's ability to continue as a going (x)ncern, disclosing. as applicable, matters related to going concern and using the going concem basis of aCunting unless the trust either inlend to liquidate the charitable cnmpany or to ase operations, or have no realistic altemative but to do so. Audltor's responslbllltles for the audit of the financial ststements Our objectives are to obtain reasonable assurance 8bout whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audst )ndUCted in accordance with ISAS (UK) will always detect a material misstalemenl when it exists. Misstatements can arise from fraud or error and are considered material if. in(iividually or in the aggregate, they could reasonably be expecled lo influence the enoMiC decisions of users taken on the basis of these financial st8tements. Irregularities, including fraud, are inslances of non-compliance with laws and regulalions. We design procedures in line with our responsibilities. outlined above. to detect material misstatements in respecl of irregularities. including fraud. The specific procedures for this engagement and the exienl to which these are capable of detecting irregularities. including fraud is detailed below.. Enquiry of management and those charged with govemance around actual and potential litigation and claims as well as aclual, suspected and alleged fraud.. Reviewing minutes of meetings of those charged with govemance., Assessing the exienl of Compliance with the laws and regulations 0¥)nsided to have a d1ct material effect on the finanaal statements or the operations of the company through enquiry and inspection.. Reviewing financial statement disclosures and testing to supporting documentation lo assess compliance wth applicable laws and regulations., Performing audit work over the risk of management bias and overrlde of fA)ntrols. including testing of joumal entries and other adjustments for appropriateness. evaluating the business rationale of significant transactions outside the normal course of buslness and reviewing accounting estimates for indicatots of potential bias. Because of the inherent limitations of an audit, there is a risk Ihat we will not detect all irregularities, including those leading lo a material misstatement in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and Iransaclions reflected in the financial statements. as we will be less likely lo become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due lo fraud rather than error, as fraud involves intentional concealment, forgery, wllusion, omission or mispresentation. A further descThption of our spOnSibl11t1es is available on the Financial Reporting Coun¢il'$ web91te at.. httpS..l.frc.Org.UkJoUr-WorklAudI1jAudI1-and-asSurance1standardS-andU18nCeIst8ndard$-an-gUianCe-f0r- auditorslAudilors-responsibililies-for-audiUDescriptionvof-auditors-resp)nsibilities-for-audit.aspx. This description fomis part of our auditor's report.
OAK HILL COMMUNITY NURSERY INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OAK HILL COMMUNITY NURSERY Use of our report This report is made solely to the charitable company's members. as a body, in accA)rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste lo the charilable company's members those matters we a required to slate lo them in an auditor's report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibil*ty to anyone other than the charitable company and the charitable company's members as a body. for our audit work. for Ihis report. or for the opinions we have formed. John Howard (Senior Statutory Auditor) For and on behalf of Azets AudiLServices Statutory Auditor, Chartered Accountants 2nd Floor, Regis House 45 King William Street London EC4R 9AN Date: L¥
OAK HILL COMMUNITY NURSERY STATEMENT OF FINANCIAL ACTIVITIES {In¢luding Income and Expendlture Account) FOR THE YEAR ENDED 30 SEPTEMBER 2024 Notes Unrestrlcted Total Funds Totsl Funds Funds 2024 2023 INCOME Charitable activities Investment income Other trading activities Other income 668,538 2,364 171 3.575 668,538 2.364 171 3.575 704,972 1,305 1.593 TOTAL INCOME 674,648 674.648 707,870 EXPENDITURE Charitable activities 697,499 697,499 668,835 TOTAL EXPENDITURE 697.499 697,499 668,835 NET INCOME I(EXPENDITURE) 122,851) (22.851) 39.035 RECONCILIATION OF FUNDS Total funds brought forward 334,561 334.561 295.526 TOTAL FUNDS CARRIED FORWARD 17 311,710 311,710 334,561 All trdnsactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The notes on pages 13 to 20 form part of the financial statements. 10
OAK HILL COMMUNITY NURSERY BALANCE SHEET FOR THE YEAR ENDED 30 SEPTEMBER 2024 Notes 2024 2023 FIXED ASSETS Tangible fixed assets 12 4.693 4.718 CURRENT ASSETS Debtors Cash at bank and in hand 13 12,490 355.490 3,314 356,571 367,980 359.885 CURRENT LIABILITIES Creditors-. Amounts falling due within one year 14 {60,963) (30.042) NET CURRENT ASSETS 307,017 329,843 NET ASSETS 311.710 334.561 FUNDS Unreslricled funds.. General fund Designated funds 294.710 17.000 317,561 17.000 17 311.710 334.561 Approved on behalf of the board on 5 June 2025 and signed on their behalf by John Fowler, Truslee Company No. 05850668 The notes on pages 13 to 20 form part of these fi ncial
OAK HILL COMMUNITY NURSERY CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2024 Notes Total Funds 2024 Totsl Funds 2023 CASH FLOW FROM OPERATING ACTIVITIES Cash generated from operating activities 15 85 33,272 NET CASH FLOW FROM OPERATING ACTIVITIES 85 33.272 CASH FLOW FROM INVESTING ACTIVITIES Payments to acquire tangible fixed assets Interest received 13,531) 2.364 (2,313) 1.305 NET CASH FLOW FROM INVESTING ACTIVITIES (1.167) {1.008) NET {DECREASEII INCREASE IN CASH AND I EQUIVALENTS (1,082) 32,264 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 356.571 324,307 TOTAL FUNDS CARRIED FORWARD 355.490 356.571 Cash and cash equivalents consists of: Cash at bank and in hand 355.490 356.571 The notes on pages 13 to 20 fomi part of these financial ststements. 12
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 GENERAL INFORMATION Oak Hill Community Nursery is a company limited by guarantee in the United Kingdom. The charitable company's registered number. charity number and address of the registered office is given in the reference and administration details on page 1 of these financial statements. The members of the company are the trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. ACCOUNTING POLICIES The principle accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- (a) Ba$1$ of Accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014. the Finantial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 102). the Companies Act 2006 and UK Generally Accepted Practice. Oak Hill Community Nursery meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheNise stated in the relevant accnunting policy notes. The financial statements are presented in sterling 1£) which is also the frjnctional currency for the charity. {b) Preparation of the accounts on a going concern basis Al the time of approving these financial statemenls the Trustees have assessed the financial (x)nsequences of continued uncertainties yet are (x)nfident that the charities financial resources 8re sufficient to meet its liabilities for 12 months from authorising these financial statements. The budgeted in)Me and expenditure remains sufficient with the level of the reserves for the charity to continue as a goir)g concem. The financial statements have therefore been prepared on a going concern basis. (¢) Fund Accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the company. Designated funds are unrestricted funds earmarked by the trustees for particular purposes. Reslricled funds are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. 13
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 ACCOUNTING POLICIES {continuedl Id) Incom• All income is recognised in the Statement of Financial Activities once the Nursery has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Income is deferred when the fees or donations are received in advance of the period in which they relate. Donations and other voluntary income is recogni5ed in the Statement of Financial Actlvities when entitlement arises, the amount can be reliably quantified and the economic benefit to the Nursery is considered probable. Incoming resources from charitable activities are received by way of nursery fees, and indudes income for childcare vouchers and early learning grants. The income is re(x)gni5ed in the St8tement of Financial Activities for the year in which they relate. Donated services and facilities are included at the value to the charitable company where this can be quantified. The value of servi¢es provided by volunteers has not been included in these ac(x)unts. Inve51ment income is re(x)gnised on an accwals basis. {e) Expenditure Expenditure 15 COgniSed in the Statement of Financial Activities once there is a legal conslructNe obligation to make a payment to a third paty, it is probable that setuement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises those costs incurred by the Nursery in the delivery of ils activities and servi. It indudes both rA&sts that can be allocated directly to such activities and those costs of an indirect natufe necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs rel8ting to a particular activity are allocated directly, others are apportioned on an appropriate basis. (fj Allocation of support and governance costs Support costs are those that assist the work of the charitable company but do not directty represent charitable activities. Support costs include govemance costs, premises costs, offsce and central costs and deprectalion. They are incurred ijirectly in support of expenditu on the objecls of the charitable company. Govemance costs comprise all costs involving the public accountability of the charitable company 2nd ils otnpliance with regulation and good practice. These costs include costs related to statutory audit. accountancy fees. legal fees and consultancy fees. Support and Govemance costs are allocated to charitable activities in proportion lo the dIt charitable expenditure on that 3Ctivity, where the charitable company considers that support costs a incurred as part ot the delivery of that activity. (g) Pensions The Nursery operates 8 defined contribution scheme. Contributions payable to the ¢haritsble company's pension scheme are charged to the Statemenl of Financial Activities in the period to which they relate. 14
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 ACCOUNTING POLICIES {continued) Ih) Employee benefits Short lemi employee benefits. including holiday entitlement. are recognised as an expense in the period which they are incurred. Operating leases Rentals applicable to operating leases. where substantially all of the benefits and risks of ownership remain with the lessor. are Charged lo Ihe Statement of Financial Activities as incurred. ti) Tangible fixed assets Tangible fixed assets are staled at cost less accumulated deprecsation. The cost of minor additions or those costing below £100 are not capitslised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The rates used are as follows= offi equipment.. Furniture and fixtures 33° 25Yo (k) Debtors Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Accrued in(x>me is measured at the amount due lo be received. Cash at bank and in hand Cash at bank and cash in hand includes cash and short tem) highly liquid investments with a short malurily of three months or less from the date of acquisition or opening of the deposit or similar accounts. (m) Creditors Creditors are recognised where the charilable Ix)mpany has a present obligation resulling from a past event that will probably result in the transfer of funds to a third paty and the amount due to setue the obligation can be measured or estimated reliably. Trade. other creditors and accruals are recognised at their settlement amount due. Deferred income is where income is received. some or all of which is speufi¢ally in relation lo future periods. the relevant amount is deferred and credited to the Statement of Financial Activities in the period lo which it relates. In} Financial instruments The charitable company only has financial assets and financial liabilities of a kind that qualify as basic financial inslnjments. Basic financial instruments are initially recognised at transaction value and subsequently measured al Iheir settlement value. (o) Taxatlon As a charitable company, the nursery is not liable to taxation on ils income or on surpluses on disposal of investmenls. 15
OAK HILL COMMUNI NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 ACCOUNTING POLICIES {¢ontlnued) (p) Judgements and key sourees of estimation uncertalnty Accounting estimates and judgements are continually evaluated and are based on historical experien 8nd other factors, including expectations of future events that are believed to be reasonable under the circumstances. The followtng judgements (apart from those involving estimates) have been made in the process of applying the above ac(x)unting policies that have had the most significant effect on amounts recognised in the financial statements.. Useful e¢onomi¢ lives of tangible ass8ts The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economi¢ lives and residual values of the assels. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on lechnological advancement, fulure investments, economic ulilisation and the physical condilion of the assets. See note 12 for the carying amount of the furniture and fittings and office equipment. and note j forthe useful economic lives for each class of assets. There are no key assumptions conceming the future and other key sources of estimation uncertainty at the reporting date that have a Significant risk of causing a material adjustment to the carying amounts of assets and liabilities within the next financial year. INCOME FROM CHARITABLE ACTIVITIES Unrestricted Funds Total 2024 Total 2023 Fees LB Nursery Education grant Donations and fundraising 558.109 104,784 5,645 558,109 104,784 5,645 591.607 107,896 5,469 668.538 668,538 704,972 In 2023 all of the income was attributable to the unrestricted fund. INVESTMENT INCOME Unrestrlcted Funds Total 2024 Total 2023 Bank inter6St 2.364 2,364 1.305 In 2023 all of the investment income was attributable to the unrestricted fund. OTHER INCOME Unrestrlcted Funds Total 2024 Total 2023 other income 3,575 3.575 1.593 3,575 3,575 1,593 In 2023 all of the olher income was attributable to Ihe unreslricted fund. 16
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 CHARITABLE ACTIVITIES Unrestricted Funds Total 2024 Total 2023 Advanment of the educalion of children 697,499 697,499 668,835 In 2023 all of the expendilure was attributable to the unrestricted fund. ANALYSIS OF EXPENDITURE Dlrect Charitable Support costs Total 2024 Total 2023 (note 8} 102,823 Advancemenl of the education of children 594,676 697,499 668.835 In 2023 £570.007 of the expenditure related to direct charitable expenditure, and the remaining £98,828 related to support costs. SUPPORT COSTS 2024 2023 Governance costs {note 9) Premises costs Office and central )sts Depreciation 17,550 73.598 8.119 3,556 15.834 72,932 7.550 2.512 102,823 98.828 GOVERNANCE COSTS 2024 2023 Auditors remuneralion Audit fee Acwunting, currenl year Other rson-audit services Other governance costs 9.720 1,320 175 6,335 9.300 1.200 5.334 17.550 15,834 Other governance costs consist of legal fees and consultancy fees. 10. NET INCOMEIIEXPENDITUREI FOR THE YEAR 2024 2023 This is stated after ¢harging'. Depreciation Audit fee Operating lease costs 3.556 9,720 48,000 2.512 9.300 48,000 17
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 11. ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES AND THE COST OF KEY MANAGEMENT PERSONNEL 2024 2023 Wages and salaries Social security Defined Contribulion pension wsts Agency staff 444.940 21,077 10.058 68.994 428,333 13,825 8,532 64,185 545.069 514,875 The average number of full-lime equtvalenl employees.. Nursery staff 21 22 Employee time has been allocated to direct charitable expenditure. One employee received emoluments of more than £60,00012023.' none). During 2024, no trustees {2023'. £nil) were paid or received any other benefits from employment with the charitable company. No trustee or any person (x)nnected with Ihem reiVed any expense5 during the year 12023.. £nil). The key management of the charitable (x)mpany comprise Ihe trustees, the nursery manager and the deputy m8nager. The trustees do not receive any remuneration for this role. The total employee benefits of the key management personnel of the charitable (xjmpany were £107.306 (2023.. £96,776}. 12. TANGIBLE FIXED ASSETS Furniture and fittings Office equipment Total Cost At 1 Odober 2023 Additions Disposals 5.532 23,862 3.531 {1.998) 29,394 3,531 {2.138) (140) At 30 September 2024 5,392 25.395 30,787 Dopreclation Ai 1 October 2023 Charge for the year Disposals 5.532 19,144 3.556 11,9981 24,676 3,556 {2,138) {140} At 30 September 2024 5,392 20.702 26.094 Net Book Value At 30 September 2024 4.693 4.693 At 30 September 2023 4,718 4,718 18
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 13. DEBTORS 2024 2023 Trade debtors Other debtors Prepayments 308 3,125 183 12,182 12,490 3,314 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Other CrltorS Accrua15 Deferred in(x)me (note 14.1) 18,698 10,965 11,7 19,6(K) 4,508 6,749 10,860 7.925 60.963 30,042 14.1 DEFERRED INCOME 2024 2023 At 1 October 2023 Additional during the year Amounts released to inix)me 7,925 19.600 {7,925) 10,675 7.925 110.675) At 30 September 2024 19.600 7,925 Deferred inwme in both 2024 and 2023 relates lo nursery fees for the following autumn term. 15. RECONCILIATION OF NET INCOME TO CASH GENERATED FROPII OPERATING ACTIVITIES 2024 2023 Nel income for the year Depreciation charges Interest receivable (22.8511 3.556 (2,364) 39,035 2.512 (1,305) {21,659} {9,177} 30.921 40.242 18.214 (25,184) Decreasellincreasel in trade and other debtors (Decreaseifincrease in trade and other creditors Cash generated from operating activities 85 33.272 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 2023 Tangible fixed assets Current assets Current liabilities 4,693 367,980 (60,9631 4,718 359,885 {30,042) 311,710 334,561 19
OAK HILL COMMUNITY NURSERY NOTES TO THE ACCOUNTS AS AT 30 SEPTEMBER 2024 17. MOVEMENT IN FUNDS At1 October 2023 Incoming Resources Outgolng Resources Transfer At30 September 2024 Unrestricted funds.. General funds Designated funds 317,561 17,000 674,648 {697,499) 294,710 17,000 334.561 674.648 {697,499) 311,710 Deslgnated funds Designated funds fomi part of Unrestricled Funds and are amounts set aside by the Truslees to meet specific future requirements of the organisation. In 2019 expenditure of £7,000 spent towards the IT upgrade was allocated against Ihe designated ftjnd leaving a designated fund of £17,000 to meet the remaining IT upgrade costs and costs towards repairing the garden. No expenditure was incurred during 2024 {2023'. £nil). 17.A MOVEMENT IN FUNDS- Prior year At1 October 2022 Incoming Resour¢es Outgoing Resources Transfer At30 September 2023 Unrestricted funds.. General funds Designated funds 278,526 17,000 707,870 1668,835) 317,561 17.000 295.526 707,870 {668.835) 334,561 18. PENSION SCHEME The charitable company operates a defined contribution pension plan for its employees. The amounl recognised as an expense in the yearwas £10.058 (2023_ £8,532). 19. LEASE COMMITMENTS The charllable company sole lease commitment is its ténancy at Oakhill Nursery. Total future minimum lease payments under the operating lease are as follows.. 2024 2023 Nol later than one year Later than one and not later than five years Later than five years 24,000 48.000 24.000 24,000 72.000 20. RELATED PARTY TRANSACTIONS There are no related paty transactions during the year {2023.- none) 20