Gosforth Nursery Ltd (A company limited by guarantee) Trustees. report and financial statements for the year ended 31 August 2025 Charity number: 1133546 Company number: 06952333 robinson+co (Gosforth) Limited Chartered Accountants GOSFORTH Gosforth Nursery Ltd (A company Ilmited by guarantee) Contents Page Legal and adminlstrative inforrnation Trustees, report Independent examiners. reF)Ort Statement of finanual activities Balance sheet Cash flow statement Notes to the finandal statements io- Gosforth Nursery Ltd (A company Ilmited by guarantee) Legal and admlnlstratlve information Charlty number 1133546 Company reglstration number C￿952333 Buslness address Gosforth Nursèry Ltd Gosforth C of E Sch¢)ol Wasdale Road GOSFORTH C420 tsz Reilstered i>ffKe The Old Forge Bèck Pla GOSFORTH CA20 IAT Trustees D N Brooks Resigned 31 August 2025 Resigned 31 August 2025 T A Morris LJ Risager Wilson Pontin8 PM I Ellis Gojl Accountants robin50n+co (Gosforthl ￿Mited The Old Forge Beck Place GOSFORTH CA20 IAT Bankers HSBC Bank pl¢ 3 Pow Street WORKINGfoN CA14 3AT Page I Gosforth Nursery Ltd {A company limited by guarantee) Report of the trustees lincorporating the directors. report) for the year ended 31 August 2025 The trustees PTe5ent their ￿port and the financial statements for the year ended 31 August 2025. The trustees, who are also director5 of Gosforth Nursery Ltd for the purposes of company law and who served during the year and up to the date of this report are set out on page l. Stvurturej govemance and management Governlng document Gosforth Nursery Limlted is constttuted as a cornpany limited by guarantee and is a registered charity. The charitable company is governed by its Memorandum and Artides of Association dat￿ 3 July 2Q)9. Doy to dtsy monogement The Nursery is mana8ed by actin8 manager Mrs MÉthelle Pratt. Tnjstees The aim is to maintain a trustee board wlth a range of skills whith will be usefvl to the organi4ation. New trustees are taken through an inductlon procedure. Key monugementpersonnel remunerution The Trustees consider the 8oard of Trustees and the Nursery Manager as comprising the key management personnel of the charSty In charge of directin8 and controllSn8 ihe charity and runnin8 and operating the charity on a day to dav basis. All Trustee5 give of their time freely and no trustee remuneration was paid in the year. The pay of the charity's senlor staff is reviewed annually and assessed to ensure that the remuneration set is fair and not out of line with that generally paid for similar roles. Objectlves and actlvltles The Charitable Objects are- To enhance the development and education of children primarity under ststutory school a8e by encouraging parents to understand and provide for the need5 of their children throy8h communtiy groups and by.'_ l. Offeiing appropriatè play, education and carè facilities and training courses. together with the right of parent5 to take responsibility and to become involved in the arti￿lIeS of such groups, ensuring that suth groups offer opportunities for all children whatever thelr race. culture, religion. means or ability.. 2. Encouraging the study of the need5 of such children and their families and promotlng public interest in and recognition of such needs- 3. In5tiBatlng and adherinB to and furtherin8 the aims and objects of the pr￿SChoOl Learnin8 Alliance. We alm to=_ l. Provide high quality care and education for children primarily below statutory school age,. 2. Work in partnership with parents to help children leam and devèlop,. 3. Add to the life and well being of our local community: and 4. Offer children and their parents a servi￿ which promote5 equality and values d￿ersIty- Public 8enefit The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activitie5. In particular. the trustees consider how planned activities will contribute to thè aims and objettNes they have set. Pa￿2 Gosforth Nursery Ltd (A company limited by guarantee) Report of the trustees lincorporating the dlrectors, report) for the year ended 31 August 2025 Achievements and performance Throughout this last year the nursery has continued to fa￿ challenges which have now become commonplace within nurseries semng their comrnunitie5 nationwide. Once again, the staff and management have been exceptional. With their contiriuou5 can-do attitude, the nursery has continued to thrive. Bookings have been at the maximum given the current resourcin8 issue5. StafFing resour￿ ha5 been a challenge recently- one that the nursery has continuously tried to address. Managing finances for a nursery is always a b3lancing act, but thanks to careful planning and everyone's efforts especially those of the management, thi5 has been a good year. The year Saw an increase in the proportion of eaming5 attributable to WPE. There wa5 also a significant annual increase in the National Minimum Wage. In addition to this the budget set out an increase in National Insurance payrnents which will bear significance on the settings future earnings. All thls aslde, the nursery was able to continue to deliver the hlgh level of servlce to whl¢h parents using our frdcility have become accustomed. At the beginnin8 of April the staff received a pay rise which was refle¢tive of the percentage increase in the Notional Minimum Wage. The block booking system introduced last April has wntinued to prove a success for all involved. April also saw an increase In fees and charges - a precautionary measure to ensure we continued to cover the inevitable rise in costs encountered in the day to day runnin8 of the nursery. These changes resulted In a finandal galn In the year September 2024 to August 2025. Flnancl31 review At the balance sheet date the charlty held £198,637 12024: £163,323) on unrestrlcted funds and £177,102 12024: £190,726) on restiicted funds. a satisfactory position. Reserves Gosforth Nursery Management Committee Seeks to hold 3 months operating costs in reserves as part of their contlnÉency planning process. At the date of this report this reserve fund was complete and stood at £50,0￿. Rlsk monogement The trustees have assesse(I the major strategic, business and operational risks to which the organisation Is exposed. They are sat15fied that 5VStems are in place to mitigate the ewsure to these risks. Plans for future periods The future of the nuisery facility remains promising. Gosforth School and Gosforth Nursery have continued to work on the merger that was proposed last autumn. There have been external challenges resulting in the merger taking substantially longer than initially hoped. Both establishments have continued to work together to ensure that on merged the setting remains efficient whilst continuing to offer a siable and weltorning environment for all concerned. Paramount lo achieving this is ensuring a continuation of the high quality of Servi￿ provision which the local community has enjoyed Ihus far, for manv vears to come. Paze 3 G05forth Nursery Ltd (A company Ilmlted by guarantee) Report of the trustees Ilncorporatlng the dlrectors, report) for the year ended 31 August 2025 Statement of trustees, ￿ponSibl11t1eS The trustees Iwho are also directors of Gosforth Nursery Ltd for the purpose of company lawl are responsible for preparing the Trustees, Annual Report and the finanual statements in accordan￿ with applicable law and United Kingdom Generally Accepted Accountin8 Practice. Company law requires the trustees to prepare financial statements for eath financlal year which give a true and fair view of the state of affairs of the charitable company and of the Incoming resources and application of ¥esources, includlng the incorne and expenditure. of the charitable company for that period. In preparing these financial statements. the trustees are required to: select suitable a¢¢ountinB policie5 and then apply them ¢onsistently- observe the method5 and principles in the Charities SORP- make judgements and estimates that ale reasonable and prudent- state whether applicable UK Accounting Standards have been followed. subject to any material departU￿S disc105ed and explalned in the financial Statements. and prepare the financial statements on the going ￿ft¢ern basis unless it is inapproprlate to presume that the charltable company will continue in operation. The trustee5 are responsible lor keeping proper accounting records which disclose with reasonable accuracy at any time the financial p051tion of the charitable company and which enable them to ensure that the finantial statements comply with the Companies Act 2CQ6. They are also responsible for safeguarding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection of fraud and other Iriegularities. Small company piovisions This Teport has been prepared in zccordance with the special provislons for small companiès under Part 15 of the Companie5 Act 2006. On behalf of the board GOJI Dlrector 14 2p2 Gosforth Nursery Ltd (A company limited by guarantee) Independent examiner's report to the trustees on the unaudited finandal statements of Gosforth Nursery Ltd. I report on the accounts of Gosforth Nursery Ltd for the year ended 31 August 2025 set out on pages 6 to 18. Re5pectlve responsibilitles of trustees and Independent examiner The charity's tiustee5 Iwho are also ihe directors of the company for purposes ol company lawl are responsible for the preparation of the accounts. The trustees consider that an audit is not required for thi5 year under section 144 of the Charitles Act 2011 (the Charities Actl. and that an independent examination is needed. It is my responsibility to examine the accounts under sertion 145 of the Chartties Act. to follow the procedures laid down In the Genefal Direction5 given by the Charity Commission under Section 14515llbl of the Act. and to state whether partiCLtlar matters have come to my attention. Basls of independent examlner's statement My examination was carried out in accordance with the General Directions given by the Charlty Commiss10n. examination includes a review of the accounting re¢ords kept by the charity and a comparison of the account5 presented with those records. It a150 includes consideration of any unusual items or disclosures in the atcounts, 3nd seeking explanations from you as trustees concerning èny such matter5. The procedure5 undertaken do not provlde all the evidence that would be required in an audit and consequently no opinion is given as to whethèr the accounts present a'true and falr vlew, and the report is limlted to those matters set out in the statement below. Independent examlner's statement In connection wlth my examination, no matter has come to my attention= lil which gives me reasonable cause to believe that in any material ￿SpeCt the Tequirements-. to keep proper accounting records in accordan￿ with section 386 of the Companies Act 2CQ6.. and to prepare accounts which accord with the accounling records, comply with the accounting requirements of Section 396 of the Companies Att 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting 3nd Reporting by Charities have not been met- or lill to which. in my opinion, attention should be drawn in order to enable a proper understanding of the attount5 to be reached. Mr J Splre5 FCA DChA Independent examiner robin50n+co IGosforthl Llmlted The Old Forge Beck Place Gosforth, Seascale CA20 IAT 2*ZL Page 5 Gosforth Nursery Ltd (A company limited by guarantee) Statement of financial artivities Ilncorporating the income and expenditure account) For the year ended 31 August 2025 Unrestrkted Restrkted funds funds 2025 Total 2024 Total Notes Income Income from charitable activities Income from other tiading activitles.. Activities for generating funds Investment income 223.444 173.745 397,189 321,066 3,681 743 3,681 743 3,790 783 Total Income 227.868 173,745 401,613 325,639 Expendlture Charitable activities 192.554 187.369 379.923 353.467 Totsl expendlture 192,554 187,369 379,923 353,467 Net incomel{expenditurel for the year 35.314 113,6241 21,690 127,8281 Total fvnds brought forward 163.323 190.726 354.049 381,877 Total funds carried lorward 198,637 177,102 375.739 354,049 The statement of financial artivities includes all 8ain5 and 105ses in the year and therefore a separate ststement of total recognised gains and lo55es has not been prepared. All of the above amounts relate to continuin8 activities. The notes on pages 10 to 18 fom) an Integral part of these flnandal statements. P4e6 Gosforth Nursery Ltd (A company limited by guarantee) Balance sheet as at 31 August 2025 2025 2024 Ploles Fixed a55ets T3n8ible assets Current assets Cash at bank and In hand 12 274.458 298,471 I1￿,891 63,629 106.891 63.629 Creditor5: amounts falling due wlthln one year {5,610} 18,0511 Net current assets 101.281 55.578 Net assets 375.739 354.049 Fund5 Restrided incorne funds Unrestricted income funds 15 177,102 198.637 190,726 163,323 Totsl funds 375.739 354.049 The Balance Sheet ¢ontinues orh the following page. The notes on pages 10 to 18 forni an Integral part ofthese 1Snandal ststements. Page 7 G05forth Nursery Ltd IA company limlted by guarantee) Balance sheet (continued) Trustees statements requlred by the Companies Act 2006 for the year ended 31 August 2025 In approvin8 these financial Statements as trustees of the company we hereby confimi= lal that for the year stated above the company was entltled to the exemptlon conferred by sertion 477 of the Companies Act 2006; Ibl that no notice has been deposited at the registered Offi￿ of the company pursuant to settion 476 of thè Companies Art 2(￿ requesting that an audit be conducte(I for the year ended 31 August 2025. Icl that we acknowledge our responsibilities for: 111 ensuring that the company keeps proper accounting records which comply with 5ertion 386 of the Companies Act 2006, and 121 preparing financial statements which give a true and fair view of the state of affairs of the company as ai the end of the fir*anci31 year and of its profit or loss for the year then ended in accordan￿ with the requirements of sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financi31 statements, so far 0$ applicable to the company. These financial statements are prepared in accordance with the speaal provisions of Part 15 of the Companies Act 2006 relating to small companies. The financlal statements were approved by the board on 102 and slgne(l on its behalf bv GOII Dlrector The notes on page$ 10 to 18 forni an inte8ral part of these fiftandal statements. Gosforth Nursery Ltd IA company limited by guarantee) Cash flow statement for the year ended 31 August 2025 2025 2024 Notes Net Cash used by operating arti¥itie5 42,519 15,7681 Cash flows from Investlnz actl¥ltles Interest and dividends Purchase of tsngible fixed assets 743 783 14,9531 Net cash provided by inverting actlvltles 743 14,1701 Change in cash and cash equivalents in the year 43,262 19,9381 Cash and cash equivalents brought forward 63.629 73.567 Cash and cash equlvalents carrled forward 106,891 63,629 The notes on pages 10 to 18 forni an Integfal part of these finandal Statements. Gosforth Nursery Ltd (A company limited by guarantee) Notes to financlal statements for the year ended 31 August 2025 Accounting policies The principal accounting policie5 adopted, judgements and sources of estimation uncertainty in the preparation of the finantial statements are summari5ed below. 1.1. ￿515 of accountlng The financlal statements are prepared under the historical cost convention with items recognised at ¢0St or transaction value unless otherwise stated in the relevant notels) to these accounts. The financial statements have been prepared in acco¥dance with the Statement of Recommended Prartice.-'Account4ng and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companles Act 2C(6. The company constitutes a publlc benefft en￿ty as define(J by FRS 102. The trustees cOn￿der that there are no material uncertainties about the tharity's ability to continue a5 a 89in8 cOn￿rn. The presentational currency is UK Sterling pounds 1£). Income All income is included in the statement of financial activÉties once the charity has entitlement to the income, it 15 Pfobable that the income will be received and the amount of income receivable can be measured reliably. The following spe¢lflc policies are applied to particular categorie5 of income.. Income from investments is included in the year in whith tt is re¢er¥able. 1.3. Expendlture Expenditure is recogni5ed on an accrual basi5 as a liability is incurred. Expenditure indudes any VAT which cannot be fully recovered. and ts reported as part of the expenditure to which it relates. Costs of raising funds comprise the costs asso¢iated with attra¢ting voluntary in¢ome and the costs of trading for fundraI￿n8 puiposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and service5 for its beneficiaries. It includès both costs that can bè allocated directly to such attivitles and those costs of an indlrert nature necessary to support them. Support costs are those costs inturred directly in support of expendTture on the objects of the charlty and include project management and governan￿ costs. l.& Tangible fixed asset5 and depreciation Tangible fixed assets are stated at cost less accumulated depreciatlon. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life. as follow5.. Leasehold propertie5 Fixtures, fittings and equipment Stratght line over the life of the lease 25% straight line PaÈe io Gosforth Nursery Ltd (A company limited by guarantee) Notes to financlal statement5 for the year ended 31 August 2025 Flnanclal Instrurnents A flnancial asset or a financial liability bs reco8ni5ed onty when the entity becomes a party to the contractual provlsions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related Iran5action costs, unless the arrangement constitutes a financing transaction, where it l5 recognised at the present value of the future payments discounted at a market rate of interest for 3 similar debt instrument. Current assets and current liabilities are subsequentty measured at the cash or other Consideration expected to be paid or receNed and not discounted. Debt instruments are subsequently measured at amortlsed cost. Financial assets that are measured at cost or amortise(I cost are reviewed for objective e￿den￿ of impairment at the end of each reporting date. If there is objettive evidence of impairment, an imp3irnient10s5 is recogni5ed under the appropriate heading in the statement of ffinantial artivities in which the initial Bain was reco8ni5ed. Any reversals of impairnient are reco8ni5ed immedlaiely. to the exteni that the reversal does not result In a carrying amount of the financial asset that ex￿e£l5 what the carrying amount would have been had the irnpairment not previously been re¢o8nised. 1.6. Deflned contrfbutlon penslon xhernes The pension costs charged in the financial statements represent the contrlbutlons payable by the ch8rtty durlng the year. 1.7. Government grants Government grants are recognised at the fair value of the asset received or receiwable. Grant5 are not recognised until there is reasonable assurance that the company will comply with the tonditions attathin8 to them and the 8Tants will be received. Government grants are Tecogni5ed using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the period5 in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of givin8 immediate financial support to the entity Wlth no ftjiure related costs are recognised in income in the period in which it be¢ome5 receivable. Grants relating to assets are recognised in income on a systematic basis over the expettell useful life of the asset. Where part of a 8rant relating to an assel is defe￿ed. it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not Impose spe¢ified futu￿ performan￿-re1ated conditions on the recipient. it is recognised in income when the gfant proceeds are received or receivable. Where the grant does impose specified future performanc&related conditions on the recipient, it is recognised in income only when the perforMan￿relate