REGISTERED COMPANY NUMBER: 06252914 (England and Wales) REGISTERED CHARITY NUMBER: 1149802
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR TOWERS TINY TOTS
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
TOWERS TINY TOTS
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
TOWERS TINY TOTS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To advance and enhance the development and education of children primarily under statutory school age by:
(i) encouraging parents and carers to understand the developmental and educational needs of their children and considering with them the ways in which those needs may best be met;
(ii) offering appropriate play, education and care facilities through the carrying on of child care centres for children between the ages of 3 months and 11 years, ensuring that opportunities are provided to all children, whatever their ability, ethnicity, gender, sexual orientation, belief or means; and
(iii) promoting public interest in and recognition of the developmental and educational needs of children under statutory school age.
Public benefit
In carrying out the Charity's objectives, the Trustees have had due regard for the guidance issued by the Charity Commission on public benefit.
ACHIEVEMENTS AND PERFORMANCE
Charitable activities
The Charity continues the operation of its nursery, pre-school, afterschool club and holiday club for the year ending 31 March 2025.
During the year the Government have increased their offer of free early education funding for working families. From April 2024, 15 hours free early education funding has been introduced for two-year-olds and this was expanded again in September 2024 to include 15 hours for funding for babies over the age of 9 months.
This expansion of free early education has facilitated an increase in demand for spaces for 2-year-olds at both settings, and from September there has also been an increase in demand for the baby room at the nursery. This has increased the income for the year and has allowed for the Charity to continue investment in staff apprenticeships, purchase new i.t. equipment for both settings, and invest in our buildings.
FINANCIAL REVIEW
Financial position
Towers Tiny Tots has had a successful year and continues to maintain a good reputation in the local area, which has been boosted by our Ofsted grading. The waiting list remains consistently healthy.
During the year the charity had a net surplus of £45,410 (2024: deficit of £8,748). Total charity funds at 31 March 2025 amounted to £145,858 (2024: £100,448).
At the Goat Lees Community Hall we invested in the building along with the aid of a levelling up grant from Ashford Borough Council and an Asda Community Grant, with all of this funding we were able to install emergency lights, replace the internal sliding partition door, and refurbish the wooden floor.
In addition to this, investment has also been made to extend our afterschool club opening hours to 6pm from January 2025. This is part of the national expansion of Wrap Around Care for primary school age children, where there is an ambition to make this available to all families by September 2026. Due to grant funding from Kent County Council we have been able to introduce this early to our families with the take up of this extended offer expected to gradually expand over the next couple of years.
Reserves policy
The reserves of the charity, being freely available income funds, at 31 March 2025 amounted to £145,858. It is the policy of the charity to maintain reserves at a level which enables the charity to continue its charitable activities and to ensure that the charity is able to meet any liabilities or other commitments it may have.
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TOWERS TINY TOTS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FUTURE PLANS
The trustees anticipate that the large surplus achieved this year is unlikely to continue for further years and has been achieved due to the expansion in free early education funding, which has caused an initial influx of families seeking childcare. The trustees feel that this additional surplus has given the Charity potential to continue to reinvest in its settings for future years and will help to continue to safeguard the Charity against future cost increases.
Both settings continue to be well supported in our local community, with Goat Lees Community Hall being used by local clubs in the evening and weekends and the Pre-School and Afterschool Club maintaining its strong links with the local primary school.
The directors and trustees would like to thank the managers and staff for their continued hard work and dedication during the year. It is with their efforts, along with the wider support from the local schools and community, that Towers Tiny Tots has continued with another successful year of operations.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is constituted as a company limited by guarantee and therefore governed by a Memorandum and Articles of Association. The company was incorporated on 18 May 2007. The most recent Articles of Association of the company were adopted on 27 January 2023. The company was registered as a charity by the Charity Commission on 19 November 2012.
Recruitment and appointment of new trustees
Under the Articles of Association, the charity may by ordinary resolution appoint a person who is willing to act to be a director and trustee. The directors may also appoint a person who is willing to act to be a director. The Articles contain provisions requiring the retirement of directors by rotation.
The directors and trustees meet regularly and make decisions relating to, for example, the charity's strategies, policies and future plans. Day-to-day operational decisions are delegated to the managers at the two settings.
The remuneration of all staff is set by the directors and trustees.
New directors and trustees undertake a suitable induction procedure and are provided with appropriate opportunities for training.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
06252914 (England and Wales)
Registered Charity number
1149802
Registered office
The Towers School Faversham Road Kennington Ashford Kent TN24 9AL
Trustees
Ms T A Adams Ms N R Bellman Ms Y D Freeman Ms R L Bryant (resigned 15.7.24)
Company Secretary
Ms Y D Freeman
Independent Examiner
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
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TOWERS TINY TOTS
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Ms T A Adams - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TOWERS TINY TOTS
Independent examiner's report to the trustees of Towers Tiny Tots ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also 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 your charity's accounts as 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 your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can 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 2. the accounts do not accord with those records; or
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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
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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.
Mark C Greenwood FCA
The Institute of Chartered Accountants in England and Wales
McCabe Ford Williams Chartered Accountants Invicta Business Centre Monument Way Orbital Park Ashford Kent TN24 0HB
Date: .............................................
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TOWERS TINY TOTS
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,472 Charitable activities Charitable activites 447,419 Investment income 2 742 Total 449,633 EXPENDITURE ON Charitable activities Charitable activites 405,040 NET INCOME/(EXPENDITURE) 44,593 Transfers between funds 12 1,022 Net movement in funds 45,615 RECONCILIATION OF FUNDS Total funds brought forward 99,948 TOTAL FUNDS CARRIED FORWARD 145,563 |
Restricted funds £ 1,000 5,657 - 6,657 5,840 817 (1,022) (205) 500 295 |
2025 Total funds £ 2,472 453,076 742 456,290 410,880 45,410 - 45,410 100,448 145,858 |
2024 Total funds £ 691 353,702 100 354,493 363,241 (8,748) - (8,748) 109,196 100,448 |
|---|---|---|---|
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
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TOWERS TINY TOTS
BALANCE SHEET 31 MARCH 2025
| Unrestricted fund Notes £ FIXED ASSETS Tangible assets 8 8,234 CURRENT ASSETS Debtors 9 7,803 Cash at bank and in hand 162,754 170,557 CREDITORS Amounts falling due within one year 10 (33,229) NET CURRENT ASSETS 137,328 TOTAL ASSETS LESS CURRENT LIABILITIES 145,562 NET ASSETS 145,562 FUNDS 12 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 296 296 - 296 296 296 |
2025 Total funds £ 8,234 7,803 163,050 170,853 (33,229) 137,624 145,858 145,858 145,562 296 145,858 |
2024 Total funds £ 7,778 5,298 110,158 115,456 (22,786) 92,670 100,448 100,448 99,948 500 100,448 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. T A Adams - Trustee
The notes form part of these financial statements
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Statutory Information
Towers Tiny Tots is a charitable company, Limited by guarantee and registered in England. The charity's registered number, principal address and nature of operation can be found within the Report of the Trustees.
The accounts are presented in sterling which is the functional currency of the charitable company.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. The following specific policies are applied to particular categories of income:
Income from donations and grants, including capital grants, is included in incoming resources when these are receivable. When the conditions attached to a grant are met, and the charity has reasonable assurance that the grant will be received they are recognised in income . Where a grant is unconditional then the charity recognises the grant in income when it is receivable. If a grant is received before the conditions attached to it are satisfied, the grant is recognised as a liability, and only released to income once the conditions are met.
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Other income is accounted for on a receivable basis.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - At varying rates on cost from 17% to 33% Plant and machinery - 20% on a straight line basis
It is the policy of the Charity to capitalise items that will be used for more than one year. These items are initially recognised at cost.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts.
2. INVESTMENT INCOME
3.
| INVESTMENT INCOME | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Deposit account interest | 742 | 100 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2025 | 2024 | |
| £ | £ | |
| Depreciation - owned assets | 4,144 | 6,615 |
| Other operating leases | 15,192 | 14,001 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. STAFF COSTS
| Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: All staff |
2025 £ 288,541 12,965 4,865 306,371 2025 17 |
2024 £ 264,630 10,827 4,562 |
|---|---|---|
| 280,019 | ||
| 2024 17 |
No employees received emoluments in excess of £60,000.
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted fund £ INCOME AND ENDOWMENTS FROM Donations and legacies 691 Charitable activities Charitable activites 352,397 Investment income 100 Total 353,188 EXPENDITURE ON Charitable activities Charitable activites 362,436 NET INCOME/(EXPENDITURE) (9,248) RECONCILIATION OF FUNDS Total funds brought forward 109,196 TOTAL FUNDS CARRIED FORWARD 99,948 7. INDEPENDENT EXAMINERS REMUNERATION During the year the following fees were incurred for the examination of the accounts: Independent examiner's fees Accountancy services fees paid to the independent examiner 8. TANGIBLE FIXED ASSETS |
Restricted funds £ - 1,305 - 1,305 805 500 - 500 |
|---|---|
| TANGIBLE FIXED ASSETS | |||
|---|---|---|---|
| Improvements | |||
| to | Plant and | ||
| property | machinery | Totals | |
| £ | £ | £ | |
| COST | |||
| At 1 April 2024 | 94,782 | 49,184 | 143,966 |
| Additions | 1,824 | 2,776 | 4,600 |
| Disposals | (663) | (3,221) | (3,884) |
| At 31 March 2025 | 95,943 | 48,739 | 144,682 |
| DEPRECIATION | |||
| At 1 April 2024 | 92,806 | 43,382 | 136,188 |
| Charge for year | 1,495 | 2,649 | 4,144 |
| Eliminated on disposal | (663) | (3,221) | (3,884) |
| At 31 March 2025 | 93,638 | 42,810 | 136,448 |
| NET BOOK VALUE | |||
| At 31 March 2025 | 2,305 | 5,929 | 8,234 |
| At 31 March 2024 | 1,976 | 5,802 | 7,778 |
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Prepayments 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income |
2025 £ 2,900 4,903 7,803 2025 £ 334 3,199 23,485 6,211 33,229 |
2024 £ 3,537 1,761 5,298 2024 £ 279 2,918 16,298 3,291 |
2024 £ 3,537 1,761 |
|---|---|---|---|
| 5,298 | |||
| 22,786 |
11. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Within one year | 2,850 | 4,875 | ||
| Between one and five years | - | 3,657 | ||
| 2,850 | 8,532 | |||
| MOVEMENT IN FUNDS | ||||
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.24 | in funds | funds | 31.3.25 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | 99,948 | 44,592 | 1,022 | 145,562 |
| Restricted funds | ||||
| Fund to set up community projects | 500 | (204) | - | 296 |
| Floor refurbishment fund | - | (700) | 700 | - |
| Ashford Borough Council leveling up | - | 1,722 | (1,722) | - |
| 500 | 818 | (1,022) | 296 | |
| TOTAL FUNDS | 100,448 | 45,410 | - | 145,858 |
| Net movement in funds, included in the above | are as follows: | |||
| Incoming | Resources | Movement | ||
| resources | expended | in funds | ||
| £ | £ | £ | ||
| Unrestricted funds | ||||
| General fund | 449,633 | (405,041) | 44,592 | |
| Restricted funds | ||||
| Fund to set up community projects | - | (204) | (204) | |
| Floor refurbishment fund | 2,600 | (3,300) | (700) | |
| Ashford Borough Council leveling up | 4,057 | (2,335) | 1,722 | |
| 6,657 | (5,839) | 818 | ||
| TOTAL FUNDS | 456,290 | (410,880) | 45,410 |
12. MOVEMENT IN FUNDS
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.23 | in funds | 31.3.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 109,196 | (9,248) | 99,948 |
| Restricted funds | |||
| Fund to set up community projects | - | 500 | 500 |
| TOTAL FUNDS | 109,196 | (8,748) | 100,448 |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 353,188 | (362,436) | (9,248) |
| Restricted funds | |||
| Holidays and activites food programme | 805 | (805) | - |
| Fund to set up community projects | 500 | - | 500 |
| 1,305 | (805) | 500 | |
| TOTAL FUNDS | 354,493 | (363,241) | (8,748) |
During the year the following funds existed
Floor Refurbishment - Funded from donations from Asda and the Railway Club to refurbish the wooden flooring at Goat Lees Community Hall.
Ashford Borough Council Community Amenities Grant - This grant was awarded by Ashford Borough council as part of the Government Levelling Up programme. The grant funded the replacement of the internal room divider at Goat Lees Community Hall and the installation of additional emergency lighting on the outside of the building.
Funds for Community Projects - This was awarded from the Goat Lees Parish Council to enable the team at Goat Lees Community Hall to set up and maintain projects for the local community. This includes toy, book and clothes library, and resources for parents to use at home with the children.
Holidays and Activities Food Programme - The HAF Programme is funded by the department for education and aims to support children who are eligible for free school meals. It provides free access to holiday activities supporting their development and wellbeing during the school holidays.
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TOWERS TINY TOTS
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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TOWERS TINY TOTS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Donations and legacies Donations Investment income Deposit account interest Charitable activities Fee income - Nursery Fee income - Pre-school KCC funding - Nursery KCC funding - Pre-school Grants Other income Total incoming resources EXPENDITURE Charitable activities Wages Social security Pensions Other operating leases Rates and water Insurance Light and heat Activities, food, incidentals Recruitment costs Staff training Repairs and maintenance Computer costs Printing, post and stationary Telephone Subscriptions Advertising Entertaining Accountancy fees Professional fees Sundry expenses Bad debts Support costs Finance Bank charges Other Improvements to property Plant and machinery Total resources expended Net income/(expenditure) |
2025 £ 2,472 742 130,224 35,464 174,860 99,875 7,036 5,617 453,076 456,290 288,541 12,965 4,865 15,192 2,340 2,761 5,606 30,455 333 3,106 15,894 230 3,523 2,039 3,653 288 690 2,540 509 9,333 1,056 405,919 817 1,495 2,649 4,144 410,880 45,410 |
2024 £ 691 100 133,733 37,853 80,674 91,104 2,305 8,033 353,702 354,493 264,630 10,827 4,562 14,001 1,577 2,815 4,483 23,503 107 1,575 3,832 644 3,249 1,677 2,558 378 357 2,250 1,968 8,052 2,783 355,828 798 4,222 2,393 6,615 363,241 (8,748) |
|---|---|---|
This page does not form part of the statutory financial statements
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