Registered number: 6535999 Charity number: 1133631
THE COTTAGE NURSERY
(A company limited by guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2025
THE COTTAGE NURSERY
(A company limited by guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and administrative details of the Company, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 - 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Statement of cash flows | 11 |
| Notes to the financial statements | 12 - 24 |
THE COTTAGE NURSERY
(A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 AUGUST 2025
Trustees
Vyvyan Attwood Ella Biggs (resigned 25 November 2024) Stuart Olden James Walters Alexander Rickard (appointed 1 October 2024) Aidan Wearmouth (appointed 25 November 2024) Nina Oliver (appointed 28 July 2025)
Company registered number
6535999
Charity registered number
1133631
Registered office
Alexander Hall Watchfield Swindon Wiltshire SN6 8TS
Accountants
James Cowper Kreston Chartered Accountants Apex Forbury Road Reading Berkshire RG1 1AX
Page 1
THE COTTAGE NURSERY
(A company limited by guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025
The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report together with the financial statements of The Cottage Nursery (the company) for the year ended 31st August 2025. The Trustees confirm that the annual report and the financial statements of the company comply with the current statutory requirements, the requirements of the company’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” issued in January 2015.
Since the company qualifies as ‘small’ under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Directors Report) Regulations 2013 is not required.
Objectives and activities
The Cottage Nursery offers day care, sessional care and pre-school education to children aged from 3 months to 5 years. During the reporting period 69% of the nursery’s membership were military families working or studying at the Defence Academy, several of whom were international families. This is the same percentage as in 2024. The remainder were children from the local communities of Watchfield and Shrivenham.
The aim of the nursery is to enhance the development and education of the children in its care by providing the best childcare available to the local community with a safe, secure and stimulating environment in which the children are encouraged to reach their full potential and where staff feel valued and engaged.
The nursery follows the Early Years Foundation Stage (EYFS) with its planning and children take part in activities that are both age and stage appropriate.
All children are treated equally, and British Values are embedded in the way the nursery runs, with all staff undertaking Prevent Duty training
Public Benefit
The Cottage Nursery provides care for children from both the local community and the military & civil servant families attending the Defence Academy. In so doing it welcomes children from all backgrounds and nationalities and supports children and families for whom, in some cases, their first language is not English.
The nursery supports any child with special education needs and has strong links with outside agencies provided by the local council. It also liaises with the local schools to aid the transition of children into the school system.
The nursery actively promotes a Healthy Eating Policy providing healthy snacks and a ‘home-cooked’ lunch. Help and support is offered to parents to develop their children’s eating habits.
The nursery will assist any parent who finds it hard to pay their nursery bill with a personalised payment plan and offer support to vulnerable families.
The nursery offers up to 15 hours per week funding for all working parents in the term after their child turns 9 months, term time only. From the 1st of September 2025 this increases to 30 hours per week funding for qualifying working parents. It should be noted that the funding received for such places still falls well short of the cost of providing those places.
No Trustee received any private benefit or any other remuneration from the Charity.
The Trustees have had regard to the Charity Commissions’ guidance on public benefit and follow the Charity Commission Governance Code.
Page 2
THE COTTAGE NURSERY
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Achievements and performance
The year ending 31 August 2025 marked the 21st consecutive year in which the nursery has managed its own financial records. Bookkeeping continues to be the responsibility of the Nursery Managers.
The situation regarding the nursery lease, as outlined in last year’s annual report, remains unresolved. Our previous encroachment status was deemed no longer appropriate by the Defence Academy and the Defence Infrastructure Organisation (DIO), who own the building. To date, we are still awaiting a draft lease for review and comment. The decision taken in 2024 by the Senior Leadership Team (SLT)—comprising the Management Team and the Board of Trustees—to limit major investment until this matter was settled has now been revisited, given the need for essential maintenance. We are currently obtaining quotations for improvements to the kitchen and the Cubs’ garden to ensure the continued high quality of provision.
Trustees maintain close engagement with the nursery through regular visits, during which they meet with management and staff, record observations, and escalate any issues to the Board for consideration and resolution. Over the past year, trustees have also undertaken a number of governance reviews in line with Charity Commission guidance. This work has included the development of a Trustees’ Code of Conduct, enhancements to our Business Continuity Plan and Risk Register, and a review of accreditations such as Millie’s Mark and Sun Safe. In addition, we are assessing the currency and relevance of our Memorandum and Articles of Association.
Staff professional development remains a priority. As part of our enhanced early years package, an Early Years Consultant continues to provide quarterly visits.
Infrastructure improvements have also been a focus this year. Issues with the water supply, reported in last year’s update, have been fully resolved through the installation of a new mains distribution and filtering system. A refurbishment of the nursery’s heating system is currently underway and is scheduled for completion in October 2025.
We were pleased to welcome one new apprentice this year, who is progressing in their professional development.
The nursery is governed by a Board of six trustees, including the Chairperson, Secretary, and Treasurer.
Finally, we have completed a review of our IT systems and have engaged a third-party supplier to provide technical support. We are also considering applying for Cyber Essentials certification to further strengthen our digital security.
Financial Review
A statement of the financial position and details of income and expenditure is provided at each Trustee meeting where it is reviewed by both trustees and management. Reserves have built up over the years to provide funds for major improvements in the nursery, to provide a buffer for unexpected events and for redundancy payments and closedown costs in the unlikely event of the wind-up of the Nursery. During the year we undertook a review of our reserving policy which identified that a buffer of around £300,000 was sufficient to meet all anticipated costs and risks.
During the year we have continued to protect and grow the funds on deposit by ensuring monies on deposit with the Dudley Building Society, the Cambridge Building Society and the Charity Bank are all on advantageous terms. We have also further diversified our investments by opening two accounts with the Hampshire Trust. Collectively the total with these 4 organisations is over £280,000.
Our regular banking is with Lloyds where we operate a current account and an interest-bearing Reserve Account.
Fees are regularly reviewed and are fixed at a level that is expected to raise sufficient revenue to cover all necessary expenditure whilst remaining competitive within the local area.
Page 3
THE COTTAGE NURSERY
(A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
The nursery receives Nursery Education Funding for qualifying children between 9 months and 4 years. This has been extended considerably in the past year and further extended for the start of the new year. The funding level, whilst determined by the Government is fixed locally by Oxfordshire County Council and varies between age groups. At the older ages the funding is well below the rate the Nursery charges for unfunded hours. This is a matter which is beyond the nursery’s control.
In 2023/4 the Income from funded hours represented 25% of regular income. In 2024/5 this has increased to 40% and in 2025/6 is forecast to be around 46% of regular income.
Although the Nursery reviews fees regularly in relation to overall income needs and with a close eye on remaining competitive within the local area, as can be seen, the impact of fees increases is diminished because of the increase in the number of hours ‘paid for’ by Oxfordshire.
The nursery is fully compliant with both the National Living Wage and Pension Auto-Enrolment. The significant increase in the National Living Wage and the changes to National Insurance has put an additional strain on the Nursery but we are delighted to report that a consistency in child numbers throughout the year at the Nursery, and prudent management of expenses plus the decision to temporarily defer any major improvements because of the uncertainty over the lease, has enabled the Nursery to once again make a operating surplus this year which the Trustees would like to see invested back into the nursery.
The encroachment status is covered above. The Defence Academy currently requires all maintenance and works to the nursery building and infrastructure to be undertaken by their appointed contractors. Whilst we have had good support under this arrangement to date, this is something that we will be reviewing under the new lease arrangement being proposed by the DIO. Our buildings and facilities continue to be well maintained, and we have recently had a new fire alarm system fitted to comply with current regulations.
The nursery is run as a self-funding body.
Page 4
THE COTTAGE NURSERY (A company limited by guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Structure, governance and management
a. Constitution
The Cottage Nursery is registered as a charitable company limited by guarantee (number 6535999). .
b. Organisational structure
The nursery is run jointly by two Managers, a Deputy Manager, and four Room Supervisors. All bookkeeping functions continue to be conducted in house however the payroll continues to be prepared by an outside Payroll Agency, and a firm of Accountants is responsible for preparing the year end accounts
Health & Safety is looked after jointly by the two Managers and the Deputy Manager; all fire related checks and PAT testing are carried out by Serco.
There are five Designated Safeguarding Leads, with all staff trained on Safeguarding and Prevent.
The Managers report to the Trustees who meet regularly (every 6 weeks); minutes of these meetings are kept and are available to all staff and parents as they act as a record of the nursery’s official business. Nursery staff are represented at Trustee meetings by the nursery Managers; this ensures a good and open flow of communication. Declarations of Interest are recorded when applicable.
c. Training & induction of Trustees and staff
The responsibilities of the Trustees are documented in the constitution. We have detailed role descriptions for the Trustees and the Chair. Trustees are expected to serve a minimum of two years to a maximum of six years in post and are generally appointed from within the local community. Their appointment is ratified at the annual AGM. Trustees are expected to spend time during the working day at the nursery to familiarise themselves with the day-to-day operation and to meet the members of staff. Copies of the policies and procedures are made available to them. All Trustees are subject to the same level of checks, including enhanced DBS and EY2 checks, as members of staff.
The majority of staff are qualified to a minimum of NVQ level 3 in childcare (or equivalent). However, staff are chosen not just for their qualifications but also for their individual caring skills. All staff are actively encouraged to continue to obtain new qualifications and further their learning. Safeguarding and first aid training are mandatory.
d. Risk Management
Regular risk assessments are carried out by the Managers; daily checks are done by the staff in all areas of the nursery.
The Trustees have assessed the major risks to which the nursery is exposed, in particular those related to the operations and finances, and are satisfied that systems and procedures are in place to mitigate exposure to major risks. The risk register is reviewed on a rolling basis as part of the Trustees meetings.
Safeguarding and Prevent training are mandatory to level one for all staff. All staff must have a current DBS which is renewed every three years, they must also declare their suitability each term, this extends to ‘suitability by association’.
All outside agencies working regularly within the nursery are required to have a current DBS and must declare their on-going suitability. They must also have suitable insurance cover.
Both Managers and the Chair of the Trustees have completed ‘Safer Recruitment’ training and SR practice is followed with every new recruitment of both staff and Trustees
Page 5
THE COTTAGE NURSERY (A company limited by guarantee)
;
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
Plans for the future
The management structure continues to work well and there are no plans to alter this.
Whilst any high-level capital expenditure remains under review due to the current encroachment / lease agreement discussions with the Defence Academy and DIO, we will continue to invest in the setting to maintain our current high quality of provision. We continue to review our funds on deposit to ensure they are protected whilst maximising their growth potential.
We will continue to invest in training and development of staff so that they not only fully equipped to meet Statutory requirements but also in aspects of child development and care that extend the reach of the Nursery.
Statement of Trustees’ responsibilities
The Trustees (who are also Directors of The Cottage Nursery for the purposes of company law) are responsible for preparing the Trustee’s report and the financial statements in accordance with applicable flaw and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statemenis unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. in preparing these financial statements the Trustees are required to:
- ’ Select suitable accounting policies and then apply them consistently. . Observe the methods and principles in the Charities SORP. : . Make judgements and accounting estimates that are reasonable and prudent. . Prepare the financial statements on the on-going concem basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and declaration of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
----- Start of picture text -----
Stuart Olden
Chair of Trustees
Date ZF Aloveule ZOtS
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Page 6
THE COTTAGE NURSERY (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025
Independent Examiner's Report to the Trustees of The Cottage Nursery ('the Company')
I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 August 2025.
Responsibilities and Basis of Report
As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 7
THE COTTAGE NURSERY (A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report.
Signed:
Dated: 2 December 2025
Alexander Peal BSc(Hons) FCA DChA
James Cowper Kreston Chartered Accountants Apex Forbury Road Reading Berkshire RG1 1AX
Page 8
THE COTTAGE NURSERY
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2025
| Note Income from: Charitable activities 2 Other trading activities 4 Investments 3 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net income Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2025 £ 667,304 362 9,418 - 677,084 639,059 639,059 38,025 38,025 396,603 434,628 |
Total funds 2025 £ 667,304 362 9,418 - 677,084 639,059 639,059 38,025 38,025 396,603 434,628 |
Total funds 2024 £ 547,007 274 4,254 92 551,627 567,721 567,721 (16,094) (16,094) 412,697 396,603 |
|---|---|---|---|
The notes on pages 12 to 24 form part of these financial statements.
Page 9
27 November 2025
THE COTTAGE NURSERY
(A company limited by guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025
| Note Cash flows from operating activities Net cash used in operating activities 17 Cash flows from investing activities Interest Purchase of intangible assets Net cash provided by/(used in) investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 18 The notes on pages 12 to 24 form part of these financial statements |
2025 £ 62,733 9,418 - 9,418 72,151 311,455 383,606 |
2024 £ (9,220) 4,254 (303) 3,951 (5,269) 316,724 311,455 |
|---|---|---|
Page 11
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Cottage 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 otherwise stated in the relevant accounting policy.
1.2 Company status
The charity is a private company limited by guarantee and incorporated in England and Wales. The address of its registered office and principal place of business is Alexander Hall, Watchfield, Swindon, Wiltshire, SN6 8TS. The members of the company are the parents who elect the Trustees named on page 1, to run the company on their behalf. 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.
1.3 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
1.4 Income
All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
The Nursery receives a grant each term from Oxfordshire County Council which pays for some children to receive up to 15 or 30 hours of care at the Nursery each week. The grant is applied for on a termly basis and is recognised in the financial statements when the Nursery becomes entitled to receive the income.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Page 12
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies (continued)
1.5 Expenditure (continued)
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
1.6 Donated services
The Defence Academy of the United Kingdom bears certain costs on behalf of the Cottage Nursery. These costs are not separate and identifiable from those of the Academy itself and have therefore not been recognised in the accounts as donated services but are disclosed here as such.
Fundraising costs included in costs of activities to generate funds are included in donated services.
1.7 Value added tax
The Nursery is currently not registered for VAT therefore all VAT is written off to the Statement of Financial Activities as incurred.
1.8 Tangible fixed assets and depreciation
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
Depreciation is provided on the following bases:
- Fixtures and fittings 20% Straight Line - Computer equipment 20% Straight Line - Playground equipment 20% Straight Line
1.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
1.11 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it as received as advanced payments for the goods or services it must provide.
Page 13
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1. Accounting policies (continued)
1.12 Pensions
The Comapny operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
1.13 Financial instrument
The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
1.14 Critical accounting estimates and areas of judgement
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next financial tear are discussed below.
All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources.
Tangible fixed assets:
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. Residual value assessments consider issues such as the remaining life of the asset and the projected disposal values.
Page 14
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
2. Income from charitable activities
| Unrestricted funds 2025 £ Fees and deposits 382,946 Grants 284,358 667,304 Total 2024 547,007 3. Investment income Unrestricted funds 2025 £ Bank interest received 9,418 Total 2024 4,254 4. Income from other trading activities Income from fundraising events Unrestricted funds 2025 £ Fundraising 362 Total 2024 274 |
Total funds 2025 £ 382,946 284,358 667,304 547,007 Total funds 2025 £ 9,418 4,254 Total funds 2025 £ 362 274 |
Total funds 2024 £ 396,046 150,961 |
|---|---|---|
| 547,007 | ||
| Total funds 2024 £ 4,254 |
||
| Total funds 2024 £ 274 |
||
Page 15
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
5. Other incoming resources
| Other income Total 2024 |
Unrestricted funds 2025 £ - 92 |
Total funds 2025 £ - 92 |
Total funds 2024 £ 92 |
|---|---|---|---|
6. Analysis of expenditure on charitable activities Summary by fund type
| Unrestricted funds 2025 £ Nursery costs 635,639 Governance costs 3,420 639,059 Total 2024 567,721 |
Total 2025 £ 635,639 3,420 639,059 567,721 |
Total 2024 £ 563,971 3,750 |
|---|---|---|
| 567,721 | ||
Page 16
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
7. Analysis of expenditure by activities
| Nursery costs Governance costs Total 2024 |
Activities undertaken directly 2025 £ 635,639 - 635,639 563,971 |
Support costs 2025 £ - 3,420 3,420 3,750 |
Total funds 2025 £ 635,639 3,420 639,059 567,721 |
Total funds 2024 £ 563,971 3,750 |
|---|---|---|---|---|
| 567,721 | ||||
Analysis of direct costs
| Staff costs Depreciation Staff training and recruitment Nursery consumables Insurance Premises expenses Printing, postage, stationery and advertising Computer expenses Travel expenses Clothing costs Subscriptions Sundry expenses Bank charges Payroll charges Charitable donation Consultancy fees |
Total funds 2025 £ 526,293 30,186 1,816 47,183 2,919 2,164 666 1,351 - 664 1,690 13,332 98 1,601 4,476 1,200 635,639 |
Total funds 2024 £ 471,909 30,188 1,652 35,895 2,887 2,151 547 1,039 76 484 1,511 12,868 120 1,444 - 1,200 |
|---|---|---|
| 563,971 |
Page 17
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Governance costs 8. Independent examiner's remuneration Fees payable to the Company's independent examiner for the independent examination of the Company's annual accounts 9. Staff costs Wages and salaries Social security costs Other pension costs |
Total funds 2025 £ 3,420 2025 £ 3,420 2025 £ 477,006 37,957 11,330 526,293 |
Total funds 2024 £ 3,750 |
|---|---|---|
| 2024 £ 3,240 |
||
| 2024 £ 426,408 34,965 10,536 |
||
| 471,909 |
The average number of persons employed by the Company during the year was as follows:
| 2025 | 2024 |
|---|---|
| No. | No. |
| 20 | 19 |
No employee received remuneration amounting to more than £60,000 in either year.
During the year the remuneration and benefits received by key management personnel totalled £160,952 (2024: £120,769)
Page 18
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 August 2025, no Trustee expenses have been incurred (2024 - £NIL).
11. Tangible fixed assets
| Cost or valuation At 1 September 2024 At 31 August 2025 Depreciation At 1 September 2024 Charge for the year At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 Debtors Due within one year Other debtors |
Fixtures and fittings £ 11,531 11,531 10,864 233 11,097 434 667 |
Playground equipment £ 2,360 2,360 1,986 95 2,081 279 374 |
Playground equipment £ 149,289 149,289 51,992 29,858 81,850 67,439 97,297 2025 £ 40 |
Total £ 163,180 |
|---|---|---|---|---|
| 163,180 | ||||
| 64,842 30,186 |
||||
| 95,028 | ||||
| 68,152 | ||||
| 98,338 | ||||
| 2024 £ 40 |
12. Debtors
Page 19
THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
13. Creditors: amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals |
2025 £ 474 10,366 2,909 3,420 17,169 |
2024 £ 486 7,024 2,479 3,240 |
|---|---|---|
| 13,229 |
14. Statement of funds
Statement of funds - current year
| Balance at | 1 | Balance at | ||||
|---|---|---|---|---|---|---|
| September | Transfers | 31 August | ||||
| 2024 | Income | Expenditure | in/out | 2025 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| Designated funds | ||||||
| Baby area | - | - | - | 30,000 | 30,000 | |
| General funds | ||||||
| General Funds - all funds | 396,603 | 677,084 | (639,059) | (30,000) | 404,628 | |
| Total Unrestricted funds | 396,603 | 677,084 | (639,059) | - | 434,628 | |
| Statement of funds - prior | year | |||||
| Balance at | Balance at | |||||
| 1 September | 31 August | |||||
| 2023 | Income | Expenditure | 2024 | |||
| £ | £ | £ | £ | |||
| Unrestricted funds | ||||||
| General Funds - all funds | 412,697 | 551,627 | (567,721) | 396,603 |
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THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
15. Summary of funds
Summary of funds - current year
| Designated funds General funds |
Balance at 1 September 2024 £ - 396,603 396,603 |
Income £ - 677,084 677,084 |
Expenditure £ - (639,059) (639,059) |
Transfers in/out £ 30,000 (30,000) - |
Balance at 31 August 2025 £ 30,000 404,628 |
|---|---|---|---|---|---|
| 434,628 |
The trustees decided to transfer £30k to a designated fund in the year. This will be used to redevelop the baby area.
Summary of funds - prior year
| Balance at | Balance at | ||||
|---|---|---|---|---|---|
| 1 | September | 31 August | |||
| 2023 | Income | Expenditure | 2024 | ||
| £ | £ | £ | £ | ||
| General funds | 412,697 | 551,627 | (567,721) | 396,603 |
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2025 £ Tangible fixed assets 68,152 Current assets 383,645 Creditors due within one year (17,169) Total 434,628 |
Total funds 2025 £ 68,152 383,645 (17,169) |
|---|---|
| 434,628 |
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THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
16. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 98,337 311,495 (13,229) 396,603 |
Total funds 2024 £ 98,337 311,495 (13,229) 396,603 |
|---|---|---|
17. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Interest Increase/(decrease) in creditors Net cash provided by/(used in) operating activities Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2025 £ 38,025 30,186 (9,418) 3,940 62,733 2025 £ 383,606 383,606 |
2024 £ (16,094) 30,188 (4,254) (19,060) (9,220) 2024 £ 311,455 311,455 |
|---|---|---|
18. Analysis of cash and cash equivalents
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THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
19. Analysis of changes in net debt
| Cash at bank and in hand | At 1 September 2024 £ 311,455 311,455 |
Cash flows At 31 August 2025 £ £ 72,150 383,605 72,150 383,605 |
Cash flows At 31 August 2025 £ £ 72,150 383,605 72,150 383,605 |
|---|---|---|---|
| 383,605 |
20. Related party transactions
Clare Olden, the spouse of a trustee was employed by the charity in a staff role. The total remuneration paid to the individual amounted to £35,959, inclusive of salary and benefits. The remuneration was considered to be at a market rate for the role and responsibilities undertaken. The trustee is not involved in decisions relating to the spouse’s employment or remuneration.
Alison Envenoldsen, the daughter of a trustee was employed by the charity in a staff role. The total remuneration paid to the individual amounted to £28,659, inclusive of salary and benefits. The remuneration was considered to be at a market rate for the role and responsibilities undertaken. The trustee is not involved in decisions relating to the daughter’s employment or remuneration
The trustees have declared their relationship and interest in accordance with the charity’s conflict of interest policy, and the board has reviewed and approved the arrangement to ensure it is in the best interests of the charity.
No other related party transactions occurred during the year.
21. Controlling party
The ultimate controlling party is the charity's Trustees as detailed on page 1 of the financial statements.
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THE COTTAGE NURSERY
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
22. Pension commitments
The charity operates a Stakeholder Pension Scheme for its employees. This is a money purchase or defined contribution scheme. The employer's contribution is 3% of the gross pay, and for the year totalled £11,330 (2024: £10,536). At the balance sheet date £2,767 (2024: £2,337) of contributions (employees and employers) were outstanding.
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