Milestones Childcare Ltd
(Registered charity number 1132071)
(Company limited by guarantee. Registered Number 06850078)
FINANCIAL STATEMENTS
for the year ended 31 March 2025
| Contents | Page | |
|---|---|---|
| Legal and administrative information | 2 | |
| Trustees' report | 3-6 | |
| Examiner's report | 7 | - |
| Statement of financial activities | 8 | |
| Balance sheet | 9 | |
| Notes to the accounts | 10-11 |
Milestones Childcare Ltd
Legal and administrative information
Trustees
P Askew K Hamlin C Clayton
Registered Charity number
1132071
Company Ltd by Guarantee number
06850078
Principal address
20 Verdant Way Sheffield S5 6LE
Independent examiner
Craig Williamson The Ghyll Threapland Aspatria CA7 2EL
Bank
Unity Trust Bank Nine Brindleyplace Birmingham B1 2HB
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Milestones Childcare Ltd
Trustee report
The Trustees present their annual report and financial statements for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.
The financial statements compy with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller Entities.
Structure, governance and management
The Charitable Company is governed by the Memorandum and Articles of Association incorporated 17 March 2009 and was entered on the Register of Charities effective 12 October 2009.
The company has no share capital. The guarantee of each member is limited to £1.
Milestones is managed by a voluntary Board of Directors and day to day running of the charity is undertaken by the appointed Early Years Childcare Manager who manages a team of paid staff. New Trustees are recruited by invitation and or application. They are representative of the community, (either geographical or of interest). A full induction must be undertaken by all new trustees and a skills analysis completed.
The Trustees meet at regular intervals during the year and are responsible for the strategic direction and policy of the charity.
The trustees who served during the year are listed on page 2 on the report.
Objective and Activities
To enhance the development and education of children under statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
Public benefit statement
The trustees of Milestones give due consideration to the Charity Commission public benefit guidance, when carrying out activities to meet its aims.
Our beneficiaries are pre-school children and their families. The activities this year continued to meet the aim to enhance the development and education of children of or below statutory school age by encouraging parents to understand and provide for the needs of their children through community groups.
Overview
Milestones Childcare continues to build on the progress of recent years, following the challenges brought by the Covid-19 pandemic. Although financial pressures remain and some difficult decisions have had to be made, the setting continues to provide a safe, caring, and high-quality environment for all children.
Our dedicated staff team have worked extremely hard to manage these challenges, seeking creative and cost-effective ways to improve the nursery for the benefit of the children and families we serve.
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Milestones Childcare Ltd
Trustee report
Improvements and Developments
This year, several key improvements have been completed:
Following a major flood during last year’s half term, the kitchen, nursery flooring, and damaged equipment have been fully replaced, providing a safer and more practical space for both children and staff.
New fenced outdoor areas have been created for toddlers, offering dedicated learning zones where children can grow plants, fruits, and vegetables, helping them understand sustainability and nature.
A sustainability plan has been introduced, in line with Department for Education guidance, focusing on recycling, reducing food waste, and cutting plastic use. As part of this, our milk supplier was changed to a more environmentally friendly option.
Community, Inclusion and Family Support
Milestones places great importance on supporting the whole family. We continue to offer a range of initiatives to strengthen our community connections:
Home visits have been reintroduced for all children to help build relationships with families and support smooth transitions into nursery.
Emergency safeguarding places are offered at no extra cost for families in crisis, ensuring that
children can access care and stability when it’s most needed. (managers discretion on severity)
Toothbrush packs are given to all families when they start, promoting good oral hygiene from the beginning.
Parent support sessions are offered monthly, where staff help families complete important forms or applications.
Coffee mornings provide informal opportunities for parents to connect with staff and one another.
We work closely with local schools , inviting them in to help families with school transition and enrolment.
We have also set up a fruit shop at the end of sessions and held bake sales to raise additional funds for nursery improvements. These have not only helped financially but have also created a wonderful sense of community involvement.
The nursery has also established a food donation point with the support of FareShare and Asda, enabling us to offer practical help to families struggling financially.
Enrichment and Learning
Providing children with enriching experiences remains central to our ethos. Outings and celebrations continue to play a big role in our planning, ensuring all children can enjoy new experiences regardless of family income. Highlights this year include:
Trips to local farms, museums, and Gulliver’s Theme Park Bonfire Night and Christmas celebrations Graduation ceremonies
Additional resources purchased to support outings and outdoor learning
We have also launched a free sensory playgroup for local toddlers, run by volunteers, which has quickly become a valuable community resource. (Suspended at the moment due to staffing will be back running when possible)
Staff are currently undertaking training in the Make It Real Literacy programme , designed to support language development and early literacy through meaningful, everyday experiences.
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Milestones Childcare Ltd
Trustee report
Staff Development and Training
Training continues to be a key focus. All staff have recently renewed their paediatric first aid training, and we continue to welcome apprentices and Health and Social Care students on placement.
We actively work with local professionals and agencies to build partnerships that support better outcomes for the children in our care.
Future Plans
Looking ahead, our goals include:
Raising funds to install fob-access security on the toddler room door.
Upgrading our nursery management system from iConnect to Blossom , to improve communication, streamline enquiries, and enhance staff productivity.
Continuing to build our sustainability and community engagement work.
Financial Position
Milestones continues to operate under financial pressure, but the commitment of the team ensures that resources are used efficiently and improvements are made wherever possible. Fundraising activities and community partnerships have helped to ease some of the strain and support ongoing improvements.
Ofsted
Our most recent Ofsted inspection resulted in a GOOD rating, reflecting the professionalism, care, and dedication of the staff team and trustees.
Conclusion
Despite ongoing challenges, Milestones Childcare remains a vibrant, inclusive, and supportive setting. The trustees wish to thank the staff team for their dedication, creativity, and commitment to improving the lives of children and families in our community.
Milestones continues to be a happy place where children thrive, families feel supported, and staff take pride in their work.
Reserves policy :
The charity has a policy of maintaining sufficient free reserves, which are not committed or invested in fixed assets, to meet:
· unexpected costs such as redundancy, breakdown of essential equipment, staff cover re illness, maternity leave, etc and
· unavoidable running costs for a period of at least 6 months in the event of grant income being withdrawn.
This commitment is now estimated to be approximately £171,000, which will be approximately 6 month’s expenditure at £146,000, repair and maintenance £3,000 and potential redundancy at £22,000. Our unrestricted reserves currently stand at £42,365.
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Milestones Childcare Ltd
Trustee report
Trustees responsibilities for the financial statements
Company and charity law requires the trustees to prepare financial statements for each financial period which show the state of affairs of the charity and of net income or expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:
-
q select suitable accounting policies and apply them consistently;
-
q make judgements and estimates that are reasonable and prudent.
-
q prepare the financial statements on the going concern basis unless it
is inappropriate to presume that the charity will continue in operation.
q state whether applicable accounting standards of recommended practice have been followed subject to any departures disclosed and explained in the financial statements.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to prepare financial statements. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.
This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.
This report was approved by the Trustees on __and is signed on their behalf by:
K Hamlin Trustee
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Milestones Childcare Ltd
Independent Examiner's report on the Accounts of Milestones Childcare Ltd for the year ended 31 March 2025
I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages 8 to 11
Respective responsibilities of trustees and examine
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
q examine the accounts under section 145 of the 2011 Act;
q to follow the procedures laid down in the general Directions given by the Charity Commission under section 145 (5)(b) of the 2011 Act; and
q to state whether particular matters have come to my attention.
Basis of independent examiner’s repor
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statemen
In connection with my examination, no matter has come to my attention
(1) which gives me reasonable cause to believe that in any material respect the requirement
· to keep accounting records in accordance with section 386 of the Companies Act 2006; an
· to prepare accounts which accord with the accounting records, comply with the accountin requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding the accounts to be reached.
Signed:______
Craig Williamson White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL
Date:______
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Milestones Childcare Ltd
Balance Sheet as at 31 March 2025
| Notes Current assets Balance at bank and cash in hand Prepayments 4 Total current assets Creditors: amounts falling due within one year 5 Net current assets/(liabilities) Total assets less current liabilities Net assets Represented by Unrestricted general fund |
2025 £ 39,094 3,796 42,890 (525) 42,365 42,365 42,365 42,365 42,365 |
2024 £ 66,924 1,966 |
|---|---|---|
| 68,890 | ||
| (500) | ||
| 68,390 | ||
| 68,390 | ||
| 68,390 | ||
| 68,390 | ||
| 68,390 |
For the period ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities;
The members have not required the company to obtain an audit of its accounts for - the year in question in accordance with section 476,
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
This report was approved by the Trustees on_____and is signed on their behalf by:
K Hamlin Trustee
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Milestones Childcare Ltd
Statement of financial activities for the year ended 31 March 2025
| Notes Income from 1 Grants 2 Fees Sundry income & donations Total income Expenditure on Staff 3 Training Travel Premises Utilities Refurbishment, repairs and maintenance Equipment, books and software Cleaning and hygiene Childrens refreshments Consumables Activities Membership and subscription Stationary, printing and postage Telephone Insurance Independent examination Bank charges Other Expenses Total expenditure Net incoming/(outgoing)resources Fund balances brought forward 7 Fund balances carried forward 6 |
Total 2025 £ 288,037 22,785 1,757 312,579 234,849 961 294 18,996 17,132 8,936 8,416 20,461 2,659 9,235 1,414 341 3,050 3,142 4,679 525 535 2,979 338,604 (26,026) 68,390 42,365 |
Total 2024 £ 287,459 31,181 1,047 |
|---|---|---|
| 319,687 | ||
| 216,606 1,680 27 19,043 9,819 6,775 10,111 16,028 2,061 5,517 1,142 1,228 2,970 2,530 3,147 500 645 1,595 |
||
| 301,424 | ||
| 18,263 50,126 |
||
| 68,390 |
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Milestones Childcare Ltd
Notes to the accounts
for the year ended 31 March 2025
1 Accounting policies:-
(a) Basis of preparation
The Financial Statements have been prepared in accordance with the Companies Act 2006, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 (effective from January 2015 and updated with effect from January 2016) - (the Charities SORP (FRS102)), as modified for smaller charities.
The Charity meets the definition of a public benefit entity as defined under FRS102.
(b) Accounting for income
Donations and sundry income are accounted for on receipts basis. Grant income and fee income are accounted for on an accruals basis, insofar as it is prudent to do so.
(c) Accounting for purchases with an expected life of more than one year
It has been considered prudent to write off the costs of such items in the year of purchase
2 Grants
Grants received during the year were:-
| Sheffield City Council - FEF Sheffield City Council - Positive Balance Sheffield City Council -Disability Access Sheffield City Council -EYPP Sheffield City Council -Extended Hours Sheffield City Council -Deprivation Componment Sheffield City Council -EHCP Sheffield City Council -EYIP Apprenticeship Scheme 3 Staff numbers and costs:- Wages and salaries Employers National Insurance Pension |
Total 2025 £ 249,601 - 1,820 9,935 - 10,780 6,028 8,873 1,000 288,037 £ 221,752 9,340 3,757 234,849 |
Total 2024 £ 222,167 7,828 - 8,184 12,633 13,477 10,483 12,187 500 287,459 £ 198,185 9,950 3,871 212,006 |
|---|---|---|
The average number of employees during the year was 13, all of whom were engaged in activities in furtherance of the objects of the charity.
No employees received emoluments in excess of £50,000 per year
Trustees are not remunerated. No trustees received reimbursement of out-of-pocket expenses.
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Milestones Childcare Ltd
Notes to the accounts (continued) for the year ended 31 March 2025
| 4 Prepayments:- These are services and expenses that have been paid for in advance but not used during the accounting period. They are in respect of: 2025 £ Insurance 3,796 1,966 5 Creditors and accruals These are expenses owed by the group but not paid during the accounting period. They are in respect of: 2025 £ Independent examination 525 525 |
2024 £ 1,966 |
|---|---|
| 1,966 | |
| 2024 £ 500 |
|
| 500 |
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