Charlty reglstration number 1150223 (England and Wales) Company reglstratlon number 04586947 GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 illlllllllll *AEAWY8D7• 1210912025 COMPANIES HOUSE A06
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GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees S Ford L Pearse O Slyles SFry Mcox M Arif Secretary Mrs L Smith Charlty number 1150223 Company number 04586947 Principal address 15 Grendon Road Kings Healh Birmlngham B144R8 Registered office 15 Grendon Road Kings Healh 8irmlngham 8144RB Audltor M T Manley & Co. Limited 698 Yardley Wood Road Billesley Birmingham 8130HY
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED CONTENTS Page Trustees, report Statement of trustees. responslblllties Independènt audilorfs report Statement of financlal activlties Balance sheet 10 statément of cash flows 11 Noles to the financial statements 12-19
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2024 The Iruslees who are also dlrectors of the Charitable Company present their report and accounts for the year ended 30 November 2024. The accounts have been preparèd In accordance with the accounting policies set out In note 2 lo the accounts and ¢omply with the Charitable company's Articles of Associatlon, the Companles Act 2006 and the Stalemenl of Recommended Practice, "Accounting and Reporting by Charities" Issued In March 2005. Objectivès and activities The Charltable company's objectlves as set out more fully in Ihe Charitable Company's Articles ofAssocialion are.. 1. To advance the educallon, development and well-being of children under the age of 13 years 2. To promole good quality childcare and lo develop support services for parents and famllies 3. By Involvement In the provision of the above sejvlces, to Increas8 the education, heallh and wellbeing of parents and familles. In pursuance of these objects, the principlè aclivity of the Charitable Company is the running of childrens, nurseries in Ihe Billesley area of Bimiingham. The Charltable company has in addltion entered into a conlract lo run a chlldren's centre across the Selly Oak district of Birmlngham lo promote early years health and wellbeing services. The charity provides significant publi¢ benefil in the following areas.. advancement of early education Prevention of child povety advancement of ¢hild and parent health promollon of soclal harmony relief of social disadvantage The truslees have pald due regard lo public benefit guidance issued by the Charlty Cofflrnission in decldlng what acllvi1Ses the Charitable company should undertake, The Charitable companys policy is to consult and discuss with employees, through unions, staff councils and at meellngs, matters likely lo affect employees, Snlerests. Information on matters of concern lo 8mpioyees is given through informalion bulletins and reports which seek lo achieve a common awareness on the part of all employees ol the financlal and economlc factors affecting the group's performance. Achlevements and performance GBNFC continues to demonstrate a high slandard of care and education wilhln all ils Early Years settings and the Chlldren's Cenlre services. The nurseries all follow national guidelines and Ofsled requirements and standards, at the most recent Ofsted inspection one of the nurserles achleved an 'Outstanding' Rating. All nurserles conllnLte to work towards. and achieve, Qualily awards - particularly in areas of health & safety and wellbeing. Parents play an irnportanl, partnership role in nursery life. Workshops on a variety of activities are offered throughout the year and parents are encouraged lo loln the Board ol Directors. The Children's Cenlre continues to support children and families in the Selly Oak Dlslrlct despile changes in funding and delivery changes. The team underwent a structure land name change lo become a 'HUB') review in Summer 2024 due to the changes, but servlces to famllles continue to be offered across the area. Partnerships with other agencies continue lo develop in order to maintain support and learning opportunities wllhin the Dislricl.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2024 In spit8 of the decision not to raise nursery prices in view of the prevailing ¢ost of living crtsis, nursery income increased in the year to £1,694,765 compared to £1.324,700 last year. At the same time, nursery expenditure increased lo £1.665,237 compared lo £1,556,985 last year. This results in a surplus on nursery of £29,528 compared to a d8ficit of £232,285 last year. Unrestricted funds of £348,326 are Carried forward. The Children's Centre made a surplus for the year of £40,513 (2023 deficit of £74,440). Restricted funds of £851.390 are Carried fomard. 11 is charily policy to obtain sufficient funding to successfully Implement Its ¢ore activities. Flnanclal revlew Plans and budgets to facilitate the continued delivery of servicès at the current level have been agreed. and action taken to slgnificanlly reduce the deficit experienced this year. These plans and budgets wlll be carefully monitored in the light of ongoing uncértain e¢onomic and fijnding ¢ondlllons. It is the pollcy of the Charitable company that unrestricted funds which hav8 not been deslgnated for a specific use should be maintaln8d at a level equivalent to beeen three and six months, expendlture. The Iruslees consider that reserves al this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charitable company's Current acliviti8s while conslderation Is given to ways In which addilional funds may be raised. The trustees are satlsfied with unreslricled reserves of £348,326 and reslricled reserves of £851,390 at 30 November 2024. Th6 trustees are responsible for the management of risks faced by the charity. The principle risks are in areas of safeguarding, Child Proteclion and Ihe need to ensure the continued funding of the aclivilies. Risks are identified, assessed and Controls establishéd Ihroughout the year. The key controls employed are: formal agendas for trustee gnd committee meetlngs detailed terms of referenc8 for sub-commlttees strict adherence to Government Safeguarding and Child Prolection legislation comprehensive strategic plannlng, budgeting and management accounting established or9anisalional slwclure and linès of reporting fomal written policies cleaf authorisatlon and approval levels. Structure, governance and management The Charltable company is a company limited by guarant8e.11 was set up in 2004, and oblained charitable stalu5 on 18 December, 2012. The trustees, who are also Ihe direcloTS for the purpose of company law, and who seryed during the year were,. S Ford L Pearse O Styles Dr R Rahimi M Arif SFry Reverend E Russell Mcox
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2024 Trustees are recruited from the local parent community and from other interested local resldents. All trustees are fequired lo obtain DBS certification and are required to familiarise themselves with the charities polici8s and practices. Knowledge and experience of the trustee's role is obtained by attendanGe al regular trustees and 5ub-¢ommittè8 meetings. Trustee meetings are atlended by members of th8 senior management team. who submlt their reports on the conduct, achievements, finances and ongoing development of the charity. The senior managemenl team In turn communlcate Iruslees decisions to the staff of the nursery and have responslbllily for day to day management. None of the Iruslees has any beneficial inlèrest in the company. All of the trustees are members of the company and guarantee lo contribute £1 In the evenl of a wlndlng up. Audltor In accordance with the company's articles, a resolution proposing that M T Manley & Co. Limlted be reappointed as auditor of the company will be put at a General Meeting. S Ford Trust68 Dated: 14 August 2025
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 30 NOVEMBER 2024 The truste8s, who are also the directors of Grendon & Billesley Nursery and Family Centre Llmited for the purpose of company law, are responsible for preparing the Trustees, Report and the finan¢ial statéments in accordance with appllcable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financlal year which give a true and falr view of the state of affairs of Ihe Charitab18 company and of th6 incomlng resources and application of resources. includin9 the income 2nd expenditure, of the charitable company for that year. In preparlng these financlal stalemenls, the Irusle8s are required to: select suitable accounting policies and then apply them ¢onslstently' - observe th8 methods and prlnciples in Ihe Charities SORP., make judgements and eslimales that are reasonable and prudent: state whether applicable UK Accounting Slandards hav6 been followed, sublect to any material departures disclosed and explalned in the financlal statements- and prèpare the financial statements on the going concern 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 disclosè with reasonable accuracy at any lime the financial position of the Charitabl8 company and enable them to ensure that th8 finan¢lal statements comply wilh the Companies Act 2006, They are also responsible for safeguarding the assets of the Charitable company and hence for taking reasonable steps for the préventlon and d6t8ction of fraud and other irregularities. Company law r8quires the truslees lo prepare financial statements for each financial year which give a tnje and fair view of the slate of affalrs of the Charitable company and of the incoming resources and applicatlon of resources, Including the income and expenditure, of the Gharilable company for that year. In preparlng these financial statements, th8 trustees are requlred to: select suitablè accounting pollcles and then apply them consistently,. observe the methods and principles in the Charities SORP; make judgèments and estimates that are reasonable and prudent., slate whether applicable UK Accounting Slandards have been followed, subjéct to any material departures disclosed and explained in the financial statements., and pr6pare the financial statements on the golng con¢ern basis unless It is inappropriate to presume that the Charitable company will continu8 in operation. The trustees are responslble for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable company and enable them to ensure that the financlal 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 preventlon and detection of fraud and other irregularities.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Oplnlon We have audited the financial statements of Grendon & Billesley Nursery and Famlly Centre Limited (the 'Charilable company'} for the year ended 30 November 2024 which comprise the slatemenl of financial aclivlties, the balance sheet, the slatemenl of cash flows and notes to the financlal slalements, Includlng significant accounting policles. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accountlng Standards, including Financial.Reporting Standard 102 The FinanGial Reporting Standard appllcable in th8 UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable cofflpany's affairs as al 30 November 2024 and of its incomlng r8SOUfces and applicallon of resources, for the year then ended., hav6 been properly prepared in accordance wlth United Kingdom Generally Acceptèd Accounting Practlce; and have been prepared In accordance with the requlremenls of the Companies Act 2006. Basls lor opinlon We conducted our audit in accordance with International Standards on Audltlng {UK) (ISAS {UK)) and appllcable law. Our responsibilitiès under those standards are further descrlbed in the Auditor's responsibijities for Ihe audlt of the financial stat8ments sectlon of our report. We are independent of the Charitable company in accordance wlth the ethical requirements that are relevant to our audit of thè financial statements In the UK, Includlng the FRC'S Ethical Standard, and we have fulfllled our other ethical responslbllilles In accordance with these requirements. We bèlieve that the audlt evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In audlling the financial statements, we have concluded that Ihe Irustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not identified any materlal uncertainties relating to events or conditions that, individually or collectively, may cast Slgnificanl doubt on the Charitab18 company's abillty lo continue as a going concern for a period of at least e1ve months from when thé financial staterrienls are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem arè described in the relevant sections of Ihis report. Other Informallon The other informalion comprises the information included in the annual report other than the financial statements and our auditor's report Ihereon. The Iruslees are responsible for the other information conlalned within the annual report, Our opinion on the financial slal8menls does not cov8r the other information and we do not express any form of assurance conclusion Ihereon. Our responslbllity Is to read the other information and. in doing so, consider whether the other informalion Is materially inconsistent wilh the financial statements or our knowledge obtained in the course of Ihe audit, or olherwlse appears to be materially misstated. If we identify such material inconsistencies or apparent malerial misstatements, we are reqLtlred to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work w8 have p8rforffled, we conclude that there is a material misslatemenl of this other Information, we are required to report that fact. We have nolhlng to report in this regard.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Matters on whlch wè are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Régulations 2008 requires us to report to you if. in our opinion.. the Informalion given in the financial slalemenls is in¢onslslent in any material respect with the trustees, report., or suffi¢ient accounllng records have not been kept. or the financial statement5 are not in agreement with thè accounting records; or we have not recelvod all Ihe Information and explanations we require for our aLtdlt. Responsibilities of trusteès As explained more fully in Ihe statement of trustees, responsibililles, the trustees, who are also the directors of the Charitable company for the purpose of Company law, are responsible for the preparation of th8 financial sta18ments and for being satisfied that Ihey give a true and fair view, and for such internal control as the trustees delemiine is necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Irustees are responsible for assessing the Charilable company's ability to continue as a going concern, dlscloslng, as applicable. matters related to going concern and using the going concern basis of accounting unless the Irusl88s eithar intend to liquidate the charitable company or to Cease operations, or have no realistic alternative but to do so. Audltorfs responsibilitles for Ihè audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulatlons made or having effect thereunder. Our objectlves are to obtain reasonable assurance about whether the financial slatements as a wholè are free from malerlal misslatemenl, whether due to fraud or error, and to issue an auditorfs report thal Includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audlt conducted In accordance with ISAS {UK) wlll always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenc8 the economic d8cislons of users taken on the basis of these flnanclal statem8nts.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED Irregularities, including fraud, are instances of non-compliance with laws and regulalions. W8 design procedures In Ilne with our responslbilitles, outlined above, to detect materlal misstal8m8nls in respect of irregularities, including fraud. The extent to whlch our procedures are capable of detecting irregularities. includlng fraud, is detailed below. We design our procedures so as lo obtain sufficient appropriate audit evidènce that the financial slalemenls are not materially misslaled due to non-compliance with laws and regulallons or due to fraud or error. We are nol responslble for preventing non-compllance and cannot be expe¢led lo d61ect non-compliance with all laws and regulations - Ihls responslbility lies wllh management wlth the oversight of the Directors. Based on our understanding of the company and industry and discusslons with management we identified financial reportlng standards and Companies Act 2006 as havin9 a direct effecl on the amounts and disclosures in Ihe rinancial slalemenls. As part of Ihe engagemenl leam discussion about how and where the charltable company's financlal stalements may be materially misslated due to fraud, we dld not Identify any areas with an increased risk of fraud. Our audit procedures included.. 8nquiry of management about the charltable company's policies. procedures and related controls regarding compliance wilh laws and regulalions and if there are any known instances of non-complianGe', examining supportlng documents for all material balances, transactions and disclosures., review oflhe Board ofTrustè8s minul8S', • enquiry of management and rovlew and inspection of relevant correspondence with any legal firms. • evaluation of the selection and application of accounting policies related lo subjective measurements and complex Iran5actlons', • analytlcal procedures to identify any unusual or unexpected relationships., testlng Ihe appropriateness of journal entries recorded In the general ledger and other adjustments made in the preparation of the financial stalemenls; review of accounting estimates lor biases., Owlng to the inherent limitations of an audit, therè is an unavoidable risk that some material misslatements of the financial statements may nol be detected. even though the audit is propèrly planned and performed in accordanc8 with the ISAS (UK). The potential effecls of inherènt limitations are partlcularly significant in th8 case of misslatemenl resulting from fraud because fraud may involve sophisticated and carefully organlzed schemes designed to conceal it. including deliberate fallure to reGord transactions, collusion or intenllonal mlsrepresentalions being made to us. A further description of our responsibilities is available on the Financlal Reporting Council's website al.. https'.11 www.frc.org.uklauditorsrésponsibilities. This description forms part of our audilor's report.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED This report is made solely to the charity's Iru5lees, as a body, in accordance with Part 4 of the Charltles (Accounts and Reports) Regulations 2008. Our audit work has be8n undertaken so that we might slate to the charily's trustees Ihose matters wa are required lo state to them in an auditor's report and for no other purpose. To th8 fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's trust88s as a body, for our audit work, for this report, or for Ihe oplnlons we have formed. -, m-4tLuH Graham Colllns (Senlor Statutory Audllor) for and on behalf of M T Manley & Co Llmited (Statutory Auditor) 14 August 2025 696 Yardley Wood Road Billesley Bimingham B130HY M T Manley & Co. Llmited Is ellglble for appointmènl as auditor of Ihe Charitablè company by virtue of its ellgibillly for appointment as audltor of a company under sectlon 1212 of the Companies Act 2006.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 NOVEMBER 2024 UnrestrScted Restrlcted funds funds 2024 2024 Total Unrestrleted Restricted funds funds 2023 2023 Total 2024 2023 Notes In¢ome from: Charitable activil'es Headlng #ac989 1,621.184 784,259 2,405,443 1,250.600 726,214 1.976,814 Investments 73,581 7,682 81,263 74,100 4,644 78,744 Total Income 1,694,765 791,941 2,486,706 1,324,700 730,858 2,055,558 Expenditure on: Charltable activities 1.665,237 751,428 2,416,665 1,556,985 805,298 2,362,283 Total expendlture 1,665,237 751,428 2,416,665 1,556,985 805,298 2,362,283 Net Incomel{expendlturè) and movement In funds 29,528 40,513 70,041 {232,285) (74,440) (306,725) Reconciliation of funds: Fund balances at 1 December 2023 318.798 810,877 1,129,675 551,083 885,317 1,436,400 Fund balances at 30 Novombor 2024 348,326 851,390 1,199,716 318,798 810,877 1,129,675 The slalement of financial activities includes all gains and losses recognised In the year. All Income and expenditure derive from conllnulng activities.
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED BALANCE SHEET AS AT 30 NOVEMBER 2024 2024 2023 Notes Flxed assets Tangible assets 11 7,333 9,776 Current assets Debtors Cash at bank and in hand 12 10,988 1,221.314 8,855 1,149,658 1,232,282 1,158,513 Creditors: amounts falllng due wlthln one year 13 {39,899) (38,614) Net current assets 1,192,383 1,119,899 Total assets less current Ilabllities 1,199,716 1,129,675 The funds of the Charitable company Restricted income funds Unrestricted funds 17 15 851,390 348,326 810,877 318,798 1,199,716 1,129,675 The company is entitled to the exemplion from the audit requirement contained in section 477 of the CompaniesAct 2006, for the year ended 30 November 2024. The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 14 August 2025 L Pearse Trustee Company registration number 04586947 (England and Wales) 10-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 NOVEMBER 2024 2024 2023 Notes Cash flows from operating actlvlties Cash absorbed by operations 20 (9,607) (218.053) Investlng actlvlties Purchase of tangible fixed assets Investment income received (7,938) 78,745 81,263 Net cash generated from Investing actlvltles 81.263 70,807 Net cash generated from flnancing actlvities Net increasel(decrease) In cash and cash equivalents 71,856 (147.246) Cash and cash equivalents at beginning of year 1.149,658 1,296.904 Cash and cash equlvalents at end of year 1,221,314 1.149,658 11
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED STATEMENT OF CASH FLOWS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Critical accounting estlmaté$ and judgements In the application of the Charitablè company's accounllng polici8S, the Irus18es are requlred to make judgements, estimales and assumptlons about the Carrying amount of assets and liabilities that are nol readily apparent from other sources. The eslimales and assoclaled assumptions are based on hlstori¢al experience and other factors thal are consldered lo be relevant. Actual results may differ from these esllmates. The estlmates and underlying assumptions are reviewed on an ongolng basis. Revlsions lo accounting estimates are recognlsed in the period in which the estimate Is revised where the revision affects only that period. or In the period of the revlsion and futuro periods where Ihe revision affects both current and future periods. Trade debtors Management have lo make judgem8nls on the recoverabillty of Irade debtors based upon their historical knowledge and 8xperience of their customers. A¢¢ountlng pollcles Company information Grendon & Billèsley Nursery and Family Centre Llmlled is a private Gompany limited by guarantee incorporated in England and Wales. The registered office is 15 Grendon Road, Kings Heath, Bimiingham. B14 4R8. 2.1 Accountlng conventlon The financial slatements have been prepared in accordance with Ihe Charltable ¢ompany's Memorandum and ArtIGles of Association, Ihe Companiès Act 2006 and "Accounting and Reportlng by Charities: Statement of Recommended Practlce applicabl8 to charities preparing their accounts in accordance with the Financial Reporting standard applicable In the UK and Republic of Ireland {FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The Charitable company is a Public Bénefil Entily as defined by FRS 102. The financlal slatements are prepared in sterling, which Is the functlonal currency of the Charltable company. Monetary amounts in these financlal statements are rounded lo the nearesl £. The financial statements have been prepared under the historical cost convenllon. The principal accounling policies adopted are set out below, 2.2 Golng concern At the time of approving the financial slatements. Ihe Iruslees have a reasonable expectation thal the Charitable company has adequate resources lo continue in operational existence for Ihe foreseeable future. Thus the Irustees conlinue lo adopt the going concern basis of accounting in preparin9 the financial slatements. 2.3 Charitable funds Unrestrlcled funds are available for use al the discretion of the trustees In furtherance of thelr charltable objectives. Restricted funds are subject lo speclfic Conditions by donors or grantors as to how they may be used. The purposes and uses of the restrictèd funds are sel oul in the notes to the financial statements. 2.4 In¢omlng resourees In¢ome is recognised when the Charitable company is legally enlilled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that in¢ome will be recalved. 12-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 Aceounting policies {Contlnued) Cash donations are recognised on receipt. Other donations are recognSsed once the Charitable company has been notified of the donation, unless performancé conditions require deferral of the amount. Income tax recoverable In relation to donations received under Gift Ald or dèeds of covenanl is recognised al the lime of the donation. Legacies are recognlsed on receipt or olherwlse if the Charitab18.company has been notified of an imp8nding dislribulion, the amount is known, and receipl is expected. If Ihe amount is not known, the legacy Is treated a5 a contingent asset. 2.5 Resources expended Expenses are included in the financial slatements as they become due, 2.6 Tangible fixed assets Tangibl& fixed assets are slated at cost le55 depreclallon. Depre¢lation is provided at rates calculated to write off the cosl less estimated residual value of each asset OV8r ils 8xpecled useful life, as follows; Nursery equlpment 250/0 reducing balance The gain or loss arising on the disposal of an assel is determlned as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the slatemenl of financial a¢livities. 2.7 Impalrment of fixèd assèts Al each r8porting end date, the Charitable company revlews the carrying amounts of ils tangible assets lo determine whelher there is any indlcallon Ihal Ihose assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated In order to delermlne the exlenl of the Impairment loss (if any). Recoverable amount is the hlgher of fair value less costs lo sell and value in use. In assessing value in use, the eslimaled fulure cash flows are discounted to their present value using a pre-lax dis¢ount rale Ihal reflects currenl market assessments of Ihe lime value of money and the rlsks specific to the asset for which the estimates of future cash flows have nol been adjusted. If Ihe recoverable amount of an asset Is estlmaled to be less than ils carrying amount, the carrying amount of the asset is reduced to its recoverable amolint. An impairment loss is recognised immediately in in¢omel expendilure for the year, unless the relevant asset Is carried at a revalued amount, in which case Ihe Impairment loss Is treated as a revaluation decrease. Recognlsed impaifmenl losses are reversed if, and only if, thè reasons for Ihe impairment loss have ceased to apply. Where an impairment loss subsequently rèverses, thé carrying amount of the asset is increased to the revised estimate of its recoverable amount, bul so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairmènt loss b88n recognised for the asset in prior years. A reversal of an impairment loss is recognised Immediately, unless the relevant asset is carried In at a revalued amount, in which case the reversal of the Impairment loss Is treated as a revaluation incréase. 2.8 Cash and cash equivalents Cash and cash equivalents include cash In hand, deposils held at call wilh banks, other short-lerm liquid invéslments with original malurilies of three months or less. and bank overdrafts. Bank ov8rdrafts are shown within borrowlngs In current liabilities. 13-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Accountlng policies (Contlnued> 2.9 Financial instrumonts The Charitable company has elected to apply Ihe provlsions of Section 11 'Baslc Flnancial Instruments, and Section 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its financlal Instruments. Financial Instruments are recognised In the Charilable ¢ompanWs balance sheel when the Charllable company becomes party to the contractual provlslons of the Instrument. Financial assets and liabililles ar$ offset, with the net amounts presented in the financial slalements, when there is a legally enforceable right to set off thè recognised amounts and there Is an irstention lo settle on a net basis or lo realise the asset and sottle the liablllty simultaneously. Basle flnancial assets Basic financial assels, which include debtors and cash and bank balances. are Inlllally measured at Iransactlon price including transaction costs and are subsequently carried at amortised cosl using the effective interest mèlhod unlèss the arrangement conslilules a financing transaction, where the transaction is measured al the present value of Ihe future recèipts discounted at a markel rate of Inleresl. Financial assets classified as recelvable within one year are not amortised. Baslc flnan¢Jal Ilabilitles Basic financial liabilitles. Including creditors and bank loans are Inltially recognlsed at Iransaclion price unless the arrangement oonstilutes a finan¢ing trans8Gtion, where the debt Instrument is measured at Ihe presenl value of the future payments discounted at a markel rate of interèst. Financial liabilities classified as payable within one year are not amortised. Debt inslrumenls ar8 subsequenily carrièd al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acqulred In the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities rf payment is due within one year or less. If nol, they are presented as non-current liabilities. Trade creditors are recognised Initially at transaction price and subsequently measured at amortised cost using the effective interest method. Dere¢ognltlon of linancial liabilities FinanGial liabilities are derecognised when the Charitable companrfs conlraclual obligalions expire or are discharged or cancelled. 2.10 Employee beneflts The cost of any unused holiday entitlement Is recognised in the period in which the employee's services are received. Termination benefits are recognised immediat8ly as an expense when Ihe Charitable company is d8monstrably committed to terminate the employment of an employee or lo provide lermination benefits. 2.11 Rellremenl benefits Payments to defined contribulion retirement benefit schemes are charged as an expens8 as they fall dug. 14-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Income from charltable activities Unrestricted Restricted funds funds 2024 2024 Tolal Vnrestricted Restrlcted funds funds 2023 2023 Total 2024 2023 Nursery fees and grants 1,621,184 784,259 2.405,443 1,250.600 726,214 1,976,814 Income from investments Unrestrlcted Restricted funds funds 2024 2024 Total Unrestficled Reslrlcted funds funds 2023 2023 Total 2024 2023 Renlal income Inleresl receivable 70,811 2.770 70,811 10,453 72,311 1,789 72.311 6,434 7.683 4,645 73,581 7,683 81.264 74,100 4,645 78,745 Expenditure on charStable actlvities Expenditure Expèndllure 2024 2023 Direct costs Staff Qosls Charitable activities 1,918,862 492,643 1.849,685 507,858 2,411,505 2.357,543 Share of support and governance costs (see note 8) Governance 5,160 4,740 2,416,665 2,362,283 Analysis by fund Unr8stricted funds Restricled funds 1,665,237 751,428 1,556.985 805,298 2.416.665 2,362,283 15-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 Net movement in funds 2024 2023 The net movernenl in funds is staled after chargingl(crediling): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 5,160 2.442 4.740 3,258 Trustees None of the trustees (or any persons connected with them) received any remuneration or expenses during thé year. Support costs Support Governanco cosls costs 2024 Support Governance costs costs 2023 Audit fees 5,160 5,160 4.740 4,740 5.160 5,160 4,740 4,740 Analysed beeen Charitable activities 5,160 5.160 4,740 4.740 Employees The average monlhly number of employees during the year was: 2024 Number 2023 Number Nursery and Childrens Centre staff 83 84 Employmènt ¢osts 2024 2023 Wages and salaries Social security costs Other pension costs 1.695,323 121.746 101.794 1,641,959 111,889 95,837 1,918.863 1.849.685 There were no employees whose annual remuneration was more than £60,000, 16-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) . FOR THE YEAR ENDED 30 NOVEMBER 2024 10 Taxalion The charity is exempt from laxallon on its activities because all its income is applied for charitable purposès. 11 Tangible fixed assets Nursery ¥qulpm•nt Cost At 1 December 2023 34,656 At 30 November 2024 34,656 Depreclation and Impalrment At l December 2023 Deprèciation charged in the year 24.881 2.442 At 30 November 2024 27.323 Carrylng amount At 30 November 2024 7,333 At 30 November 2023 9,776 12 Debtors 2024 2023 Amounts falling due wlthln one year: Trade debtors Prepayments and accrued income 6,470 4.498 8,855 10,968 8,855 13 Creditors: amounls falling due wlthln one year 2024 2023 other taxation and social security Accruals and deferred income 23,698 16,201 24,732 13,882 39,899 38,614 14 Retlrement beneflt schemes 2024 2023 Deflnéd contrlbution schemes Charge to profit or loss In r8specl of defined contribution schemes 101,794 95,837 17-
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 14 Retlrement beneflt schemes (Contlnued) The Charttable company operates a defined contribulion pension scheme for all qualifying employees. The assets of the scheme are held separately from Ihose of the Charitab16 company in an independenlly administered fund. 15 Unreslrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donatlons and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unreslricted funds by thé trustees for specific purposes. At1 Decèmber 2023 Incomlng Resources resources expendèd At30 November 2024 General funds 318,798 1,694,765 {1.665,237) 348,326 PrgViQU5 year: At1 December 2022 Incomlng resources Resources oxpended At30 November 2023 General funds 551,083 1,324,700 {1.556,985} 318,798 16 Analysls of net assets between funds Unrestrl¢ted funds 2024 Restricted funds 2024 Total 2024 At 30 November 2024: Tangible assets Curr8nt assetsl(liabilities) 7.333 340,993 7,333 1,192,383 851.390 348,326 851.390 1.199,716 Unrestrlcled funds 2023 Restricted funds 2023 Total 2023 At 30 November 2023: Tangible assets Current assetsl{liabilities) 9.776 309.022 9,776 1.119,899 810,877 318,798 810,877 1,129,675 18
GRENDON & BILLESLEY NURSERY AND FAMILY CENTRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2024 17 Restrlcted funds The restricted funds of the charity compris8 the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At1 December 2023 Incomlng Resources resources expended At30 November 2024 Childrens Centre Communlty Projects 787,205 23,672 791,942 (751,429} 827,718 23,672 810,877 791,942 (751,429) 851.390 Previous year: At1 December 2022 Incomlng resources 'Resourcos expended At30 November 2023 Childrens Centre Community Projects 858,886 26,430 725,273 5,586 {796,6541 (8,3441 787,505 23,672 885,316 730,859 (805.298} 810,877 18 Relaled party Iransactlons There were no disclosable related party transactions during the year (2023 non8). 19 Analysls of ¢hange$ In net funds The Charitable company had no material debt during the year. 20 Cash absorbed by operatlons 2024 2023 Surplusl{deficit} for the year 70,042 {306.724) Adjustments for: Investment income recognised In statement of financial activities Depreciation and impairmént of tangible fixed assets {81,264) 2,443 (78,745) 3.257 Movements In worklng capllal: {Increase)Idecr8ase in debtors Increase in creditors (2,113) 1,285 152.191 11,968 Cash absorbed by operatlons (9,607) {218,053} 19-