REGISTERED COMPANY NUMBER: 05885935 (England and Wales) REGISTERED CHARITY NUMBER: 1142554 Re ort of the Trustees and Unaudilell Financial Slalements for Ihe Year Ended 31 Jul 2025 First Ste Pre-school Ltd Stanley Joseph Limited Charteied Accounlanls SiJite1 Libety House South Liberty Lane Bristol BS3 2ST
First Sle Pre-school Ltd Contents of the FinancAal lalements for the Year Ended 31 Jul 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activilres statement of Financial Posits'on Notes lo the Financial Ststements 9 to 14 Detailed Statement of Financia5 Activities 15 10 16
First Ste PT&school Ltd ort of the Trustees for the Year Ended 31 Jul 2025 The Iruslees who are also directo of the Charity for the purposes of the Companies Act 2006, present their report with the financial statements of the tharity for the year ended 31 July 2025. The Iruslees h2vo adopted the provisions of Accounting and Reporting by Charities: Slatemenl of Recommended Practice aprAicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic DI Ireland IFRS 1021 leffe¢ttve1 January 2019). OBJECTIVES AND ACTIVITIES Prin¢lple activity and objects of the charity The principal activity and object of the company and charity, in the period under review, was lo dèvelop krthvledge, understanding and curiosity of their environment for children aged 2 years to 4 years 11 months. Publlc beneflt The Twslees have referred lo the guidance conlained in the Chartty Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how pLqnned actwilies will contribute lo the aims and objectives Ihey have set. First Slep Pre-school has been offering early childhood education and benefitting the community of Thombury for the last Ihity years. We welcome all chiléren in the local community from every ba(&ground. Our aims are lo provlde.. al An envirDnmenl which is full of curiosity within a secure setting bl To adhere lo and follow both the aims and objectives of Otsted and the EYFS cl We will provide flexible sessions offering 2 year old, 30 hour and NEG funding dl We will employ qualified staff who have a good knowledge of children's developmenl e) We will support children lo be school ready for transition Our work means we work closely with the local primary schools. This work is of benefit to our children and lo the schools themselves as well as the wider community. ACHIEVEMENTS AND PERFORMANCE Achlevements, performance and flnancial review of the charity The Charity has continued lo provide pre4chool sessions for children from kn lo five years old as outlined alN)ve. The Committee Members have conlinued to give their lime to support Ihe running of th8 pre-schod. The Directors would like lo thank everyone who gave Ihelr time and SUPPDrted the fundraising activities and events carri8d out by the Charity in the year. Income lotalled £229,308 12024.. £219,185) and the lolal expenditure was £225,304 12024: £217,036} resulting in a surplus of £4,004 {2024: £2,149) for the year. The financk11 position al the end of the year was such that the charity had sufficient liquid funds to cover its liabilities. The directors are confident that the charity will continue to further achieve ils objectives in fvlure years. Page1
First Sle Pre-school Ltd Re ort of the Trustees for the Year Ended 31 Jul 2025 FINANCIAL REVIEW Reserves policy In line with gUance issued by the Charity Commission, the Trustees have vieWed the charity's need for reserves. Restricted Funds Money received through grants or speclfic lundraising are reslricled funds and can only legally be used for the particular purpose or project Ihal the donor provided them for. Restricted funds will need to be accounled for separately to ensure that they are not accidenlly used for another purpose. Occasionally, there is a time lag between the receipt of Ihe5e funds and the related expenditure, thereby resulting in Pre-school holding the funds until payment is made. Unrestrlcted Funds Funds received from other sources of income (for example, payments for childcare places, or general fvndraisingl, will generally be unreslricled funds and may be used as and when required, as costs become due. From the unrestricted funds we have set aside some money, called designated funds for specific purposes outlined in the section below. Any remaining funds are our reserves or working capital, which are freely available to spend on any of the charills aclivilies. Income levels vary during the year, bul expenditure levels remain relatively constant throughout. Income is al its lowest during the autumn tem) rising during the spring to its highest level in the summer term, thi5 is due lo Ihe availability of grant funding. The Trustees consider it prudent that beeen 2 and 3 months, adminislralion and support costs should be kept in reserve. This level will ensu we have adequate resources lo cover our oulgoings whilst income is al its lowest level during the autumn term and to provide a suitable level of protection against delayed or late payments. The Trustees will monitor and review this reserve level with reference to income forecasts and changes in funding on an annual basis lo ensure that il continues lo rneel the needs of First Step Pre.school Ltd. and Ihal it is balanced with Ouf restx)nsibility lo spend our income on promoting our chaiilable objectives. Designated fvnds are amounts specifically excluded from beirKJ used to meet the day-to-day running costs of the Pre-school. Designated Funds currently held.. l. General fundraising.. these fundg are spent al the discretion of the trustees lo provide additional resources or pay for speaal events outside the normal running costs of the preschool. 2. Crossways sinking fund.. lo cover costs not born8 by South Gloucestershire Council in provision of the leased Crossways building, or to meet any c051s associated with negolialing Crossways lease rent Teviews. The eslablishmenl of this fund f(vms part of the lease agre9menl and is built up by regular transfers from working capitsl until a cap is reached as determined by the lease agreement. 3. Designated funds lo include Redundancy, Larger Maintenance, 3 month running costs and New building The TNstees will review this reserve level on an annual basis to ensure thal it continues to meel the needs of First step p-School Ltd and monilor spending al FiTsI Step Pre-school committee meetings. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charlty is controlled by ils governing document, a deed of trust, and consliiutes a limited company, limited by guarante8, as defined by th8 Companies Act 2006. Page 2
First Sle Pre-school Ltd Rè ort of the Trustees for the Year Ended 31 Jul 2025 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company numbèr 05885935 IEngland and Wales) Registergd Charity number 1142554 Registered officè Knapp Road Thornbury Bristol S GLOS BS35 2HQ Trusteès Ms J Sppnce Chair Mr E Good6ve-Docker Ms S Tuwner Ms S Grah8m-Aldridge Ms J Tolan Ms H Antoniades Ms J Thomas Ms H Mclnnes18ppointed 29.1.251 Independent Examiner Stanley Joseph Limited Chartered Accountants Suite1 LlberEy House South Libety Lane Bristol BS3 2ST MANAGEMENT AND GOVERNANCE Trustees for the Charity, also Directors of the Mpany, are elected each year at the Annval General MeeliThJ and are knciwn as Ihe CDmmittee', Candidates are ppOSed and seconded by the AGM attendees., ectIon is by a show of hands or a written vote. Th8 committee meets about 6 tim8s per year. Approved by order ol the board of trustees on ..... and s¢gned ori its behalf by: Mr E Goodeve-Docker- Tnjstee Page 3
Inde endenl Examinevs Re First Ste Pre-h0o1 Ltd ort to Ihe Tru51ees of Independenl examlnerfs report to the trustees of Flrsl Step Pre.school Ltd I'the Company'l I report lo the charity trustees on my examinalion of the accounts of the Company for the year ended 31 July 2025. Responsibilittes and bas1$ of report As the chaiily's Iruslees of the Company land also its directors for the purposes of company lawl you ar8 responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required lo be audited under Parl 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Adl. In carrying out my examination I have follow the Directions given by the Charity Commission under Section 145151 Ibl of the 2011 Act. Page 4
Inde endenl Examineffs Re First Sle P-school Ltd ort lo the Tru51ees of Independent examiner's $tatement I have completed my examination. I confimi that no matters have come lo my attention in connection with the examlnalion giving me cause ID believe.. accounting records were not kept in respect of the Company as required by Section 386 of th8 2006 Act., or the accounts do not accord with those records; or the accounts do not comply Mih the accounting requirements of Section 396 of the 2006 Act olher than any requirement Ihal Ihe accounts give a true and fair view which is t a matter considered as part of an independent examination: OT the accounts have not been prepared in accordan with the methods and principles of the Statement of R&commended Practi for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matt8rs in connection with the examination lo which altenlion should be drawn in this report in order lo enable a proper understandin9 of the accounts to be reached. Philip Helps Stanley Joseph Limited Chartered Accounlanls Suite 1 Liberty House South Liberty Lane Bristol BS3 2ST Dale.. Page 5
First Ste Pre-school Ltd Statement of Financial Activities for the Year Ended 31 Jul 2025 31.7.25 Total funds 31.7.24 Totsl funds Unrestricted Restficted fvnds fund Notes INCOME AND ENDOWMENTS FROkl Charitable activities 226,464 226,464 215,504 Donations and legacies Invaslment income 1,872 972 1,872 972 2,810 871 Totsl 229,308 229,308 219,185 EXPENDITURE ON Charltab18 activitiès Charitable activities 225,304 225 304 217,036 NET INCOME 4,004 4,004 2,149 RECONCILIATION OF FUNDS Total funds brought forward 122,085 122,085 119,936 TOTAL FUNDS CARRIED FORWARD 126,089 126,089 122,085 The notes form part of these financial slalemenls Page 6
Flrsl Sle Pre-school Ltd Slalemenl of Financial Posilh)n 31 Jul 2025 31.7.25 Total funds 31.7.24 Totsl funds Unreslrrcted Restricted funds fund Notes CURRENT ASSETS Debtors Cash at bank and In hand 10,234 130,554 10,234 130,554 5,563 128,177 140,788 140,788 133,740 CREDITORS Amounts falling due within one year 114.699} 114,6991 111,6551 NET CURRENT ASSETS 126,089 126,089 122,085 TOTAL ASSETS LESS CURRENT LIABILITIES 126,089 126,089 122,085 NET ASSETS 126,089 126,089 122,085 FUNDS Unreslricled funds 126,089 122,085 TOTAL FUNDS 126,089 122,085 The charitable company is enlilled to exemplion from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2025. The members have not requir8d the company lo obtain an audit of ils financial statements for the year ended 31 July 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Seclions 386 and 387 of the Companies Act 2006 and Ibl preparing financial slalements which give a true and fair view of the slate of affairs of the charitable company as al the end of each finanaal year and of its surplus or deficit for each financial year in accordance with the requ1mentS of Sections 394 and 395 and which olheMise comply with the requirements of th8 Compani8s Act 2006 relating to financial slalements, so far as applicable lo the charitable cornpany. The notes form part of these financial slalements Page 7 continued...
Pr&s Statement of Financial Position - continued 31 Jul 2025 These financial ststements have been prepared In a¢GoIdan wth the provisions appticable lo charitable companies subject to the small companies regime. The financial I te nts were approved by the Board of Twstees and authortsed for issue on and were signed on its behaLI by. Mr E G(uleve-Dock&r- Truste8 The nolgs form part of th8sè financial statements Page 8
First Ste Pre-school Ltd Notes to the Financial Statements f r the Year Ended 31 Jul 2025 ACCOUNTIMG POLICIES Basis of preparlng the flnancial statsments The financial slalements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102} 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Repo.ng Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019)., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Acl 2006. The financial statements have been prepared und8r the historical cost convenuon. Income All income is recognised in the Statement of Financial Activities once the charity has enlillemenl lo the funds, il is probable that the income will be received and the amounl can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructiv8 obligallon commilling the charity lo that expenditure, it is probable that a transfer of economic benèfits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost relaled lo the category. Where costs cannot be directly attributed lo particular headings they have been allocated lo acknvities on a basis consistent with the use of resources. Taxation The charity is exempl from corporation lax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Reslricled funds can only be used for particular reslricled purposes within Ihe objecls of tt)e charity. Restrictions arise when specified by the donor or when funds are raised for particular resliicted purposes. Further explanation ofthe nature and purpose of each lund is included in the Trustee's Report. Pension costs and other post.retlrement benefits The charitable company operates a defined conliibulion pension schem&. ConlribuliDns payable lo the charitable company's pension scheme are chaiged k) the Statement of Finanaal Activities in the period lo which they relate. Impairrnent of assets At eath reporting dale fixed assets are reviewed lo determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impaimienl, the recoverable amount of any affecled asset is estimated and compared with its carying amount. If eslimaled recoverable amount is lower, the carrying amount is reduced lo its estimaled recoverable amount, and an impairment loss Page 9 continued...
First Ste Pre4chool Ltd Notes lo the Financial Slalemenls- continued for the Year Ended 31 Jul 2025 ACCOUNTING POLICIES. ¢ontinued Impalmient of assets is recognised immediately in profil or loss. If an impairm&nl loss subsequently reverses, the carry amount of the asset is increased lo the revised estimate of ils recoverable amount, bul not in eXsS of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impaimienl loss is recognised immediately in profil or loss. DONATIONS AND LEGACIES 31.7.25 31.7.24 Fundraising events 1,872 2,810 INVESTMENT INCOME 31.7.25 31.7.24 Deposit account interest 972 871 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 31 July 2025 nor for the year ended 31 July 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 July 2025 nor for the year ended 31 July 2024. STAFF COSTS The average monthly numter of employees during the current was 11 (prior year 11 I. The average monthly number of employees during Ihe year was as follows.. 31.7.25 11 31.7.24 11 Teaching and administration No employees received emoluments in excess of £60,000. Page10 continued.-.
First Ste Pre-school Lld Notes lo the Financial Statements- continued for the Year Ended 31 Jul 2025 COMPARAnVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unfeslricted ReslTiCted funds lund Total funds NCOME AND ENDOWMENTS FROM Charitable acts'vits'es 215,504 215,504 Donations and Segacies Investment income 2,810 871 2,810 871 Total 219,185 219,185 EXPENDITURE ON Charitable activities Charitable activities 217,036 217,036 NET INCOME 2,149 2,149 RECONCILIATION OF FUNDS Total funds brought forward 119,936 119,936 TOTAL FUNDS CARRIED FORWARD 122,085 122,085 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.7.25 31.7.24 Other debtOTS 10,234 5,563 Page11 continued...
Flrsl Sle Pre-school Ltd Notes lo Ihe Financi I Statements- continued for the Year Ended 31 Jul 2025 CREDITORS: AMOUNTS FALLING OUE WITHIN ONE YEAR 31.7.25 31.7.24 Accrued expenses 11,655 MOVEMENT IN FUNDS Nel movement in funds Transfers beeen funds Al 31.7.25 At1.8.24 Unre$tri¢ted funds General fund Designated funds 55,622 66,463 2,929 1,075 {4,50DI 4,500 54,051 72,038 122,085 126,089 TOTAL FUNDS 122,085 4,004 128,089 Net movement in funds, included in Ihe atx)ve are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund Designated funds 225,714 3,594 1222,7851 2,929 1,075 229,308 225,304 4,004 TOTAL FUNDS 229,308 4,004 Page 12 continued..
First Ste Pre-school Ltd Notes to the Financial Statements- continued for the Year Ended 37 Jul 2025 MOVEMENT IN FUNDS . contlnued Comparatives for movement in funds Nel movement in funds Transfers beiween funds Al 31.7.24 Al1.8.23 Unrestricted funds General fund Designa16d funds 61,315 58,621 11,1931 3,342 14,5001 4,500 55,622 66,463 119,936 2,149 122,085 TOTAL FUNDS 119,936 122,085 Comparative nel movement in funds, included in the above are as follows.. Incorning resources Resources Movement expended in funds Unrestricted fund$ General fLJnd Designated funds 215,592 3,593 (216,7851 2511 11,1931 3,342 219 185 217,036 2,149 TOTAL FUNDS 219,185 217,0361 2,149 A Current year12 months and prior year12 months combined position is as follows.. Nel movement in funds Transfers belween funds Al 31.7.25 At1.8.23 Unrestricted funds General fund Designated funds 61,315 58,621 1,736 4.417 (9,0001 9,000 54,051 72,038 119,936 6,153 126,089 TOTAL FUNDS 119,936 6,153 126,089 Page13 continued...
First Ste Pr&school Ltd Notes lo the Financial Slalemenls- continued for the Year Ended 31 Jul 2025 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined net movement in funds, induded in the above are as follows.. Incoming resources Resources exp8nded Movement in funds Unrestricted funds Geneial fund Designated funds 441,306 7,187 1439,5701 1,736 4,417 448,493 442,340 6,153 TOTAL FUNDS 442,3401 6,153 10. RELATED PARTY DISCLOSURES There were no relatèd paty transactions for the year ended 31 July 2025 or for the year ended 31 Juty 2024. Page 14
First Sle Pre-school Ltd Detailed Slalement of Financial Activities for the Year Ended 1 Jul 2025 31.7.25 31.7.24 INCOME AND ENDOWMENTS Charitsble actlvltles Fees Grant fundi Milk refund Other Income 34,231 191,022 461 750 25,029 190,040 385 50 226,464 215,504 Donations and legacies Fundraising events 1,872 2,810 Investment Income Deposit account interest 972 871 Total incoming resources 229,308 219,185 EXPENDITURE Charitable activities Wages Social security Pensions Insijrance Loht and heat Telephone Slalionery & computer costs Advertising Sundiies Milk Equipment and materials Outings and events Repairs and renewals Uniforms Accountancy DBS checks Carried forward 181,274 7,578 3,240 4,181 4,280 736 2,660 204 1,964 461 4,117 1,004 2,427 328 924 60 215,438 176,421 6,162 2,887 1,281 4,230 750 3,145 1,519 385 5,623 980 4,309 197 924 288 209,101 This page does not form part of the statutory financial statements Page15
First Sle Pre-school Ltd Detailed Slalemenl of Financial Activilles for the Year Ended 31 Jul 2025 31.7.25 31.7.24 Charitablo activities Brought fOard Training Fundraising costs Crossways rent Committee expenses Rates Legal & professional fees EYPP Funding expendiluie 215,438 868 1,013 2,500 55 595 2,894 1,941 209,101 2,235 71 2,500 109 673 1,052 1,295 225,304 217,036 Total resources expended 225,304 217,036 Net income 4,004 2,149 This page does not form part of the ststulory financial statements Page16