Charity Registration Number: 1153686 Little Stars Early Years Financial Statements For the Year Ending 31 August 2024 JANE ASCROFT ACCOUNTANCY LIMITED Chartered Accountants Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT
Little Stars Early Years Financial Statements Year Ended 31 August 2024 Page Trustaes, Annual Report Independent Examiner's Report to the Trustees Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements The Followlng Pages Do Not Form Part of the Flnanclal Statements Detailed Statement of Finsncial Activities 17
Little Stars Early Years Trustees, Annual Report Year Ended 31 August 2024 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 August 2024. Ob"ectives and Activities Our charity's purpose as set out in our Constitution are: For the benefit of the public. the enhancement of the development and education of children of pre school age, by providing community groups and facilities for recrealion and leaming designed to meet the needs of such children and their parents in the North East of England and elsewhere as the trustees from time to time think fit. Activities Little Stars Eady Years offers a range of services to local families. These can be categorised into the following groups- Pre School: which includes th8 provision of OFSTED registered, good quality care and education for children from Ihe age of 2 to 4 years. Stay and play groups.. sessions where parents and children can access good quality resources and activit4es in a safe, and welcoming environment. The sessions are open to all families from pregnancy through to school age. We offer the opportunity for friendship and support. Sensory sessions: which includes the delivery of structured and semi structured sessions in the local leisure centres purpose built sensory room. These sessions are open to families with children from birth to school age.
Little Stars Early Years Trustees. Annual Report {continu8dJ Year Ended 31 August 2024 Achievements and Perf rmance We have conlinued to offer good quality affordable childlike services for local families. This year has been our busiest year with 42 families registered with us at the end of the academic year. We have continued to support families both in and out of the setting and offer an open door for them to speak to us and offer of support and guidance where possible. We have also accessed support from various other services to support our children and families. We hosted a top up flu clinic where parents were encouraged to bring heir children along to receive their flu vaccination within the centre. Many families took up the offer who had not accessed the provision offered through their GP service. We received a grant from charity shop for outdoor eqLJipment. This allowed us to replace some outdoor play equipment which we had to dispose of following some acts of vandalism. We also purchased resources to allow us to create shade in our garden area following Ihe removal of all the tress in the garden area due to health and safety concerns. This will enable us to offer outdoor provision all year round which supports the well being of both children and staff. Our books for birthdays scheme which we previously received a grant from the Charity Shop for was so well received by families we have continued that thi5 year from nursery funds. Following a rgquest from families we had a pholographer in setting to take photos of children and their siblings. We also celebrated a range of events including St David's Day, St Patrick's Day, Valentines day and Shrove Tuesday. The events incorporated families where appropriate We had our annual summer trip. This year we went to Saltwell park and the Angel of the North. We subsidised the cost of the trip using Early Years Pupil premium money lo pay for the bus. This kept the cost low for families and uptake for the trip was the best we have had with over 70 people attending. This year we extended our opening hours to suit our families. Sessions began an hour eartier. Several families made us of this offer to enable them to go to work. It also allowed for greater flexibility in the use of funded hours for families. We are preparing for the introduction of extended provision for working parents of 2 year olds who will be eligible for 15 hours of funded care from September. The extended hours will support this. Later opening will also be offered if required. We spenl May celebrating "Move more month,: with daily challenges and introducing children to new many sports. We ended the month with a Wednesday walk and picnic which, despite the very wet weather, was very well support8d. Over 20 families enjoyed sharing a walk where they could socialise and enjoy the benefits of being outdoors.lit was very well received and we plan to repeated this next y8ar. Staff have worked with the children to d8velop an area of our garden area for planting and growing. This support the well being of children and allows us lo investigate lifecycles and many other areas of the curriculum. The children have learned a variety of skills and we hope to develop the area further perhaps to even grow some fruit and vegetables as we did very successfully In past years with the support of Groundworks. We were provided mon8y from Durham County Council as part of the Household support fund. This was allocated to the setting to spend as we felt appropriate to support our families. We spent some money purchasing sun hats for all children so there was no pressure for parents to purchase these themselves for nursery. We provided a food parcel for family where a parent was unwell in hospital and children were being supported and cared form by other family members. We purchased school uniform for parent recently separated and cor)cerned over finances and their child starting primary school. We also purchased a bedding bundle for family who did not have adequate quilts, bedding and pillows for the family. Disability Access Funding was used to provide additional adult support for children in the selting, often providing 1..1 support for those children who required additional support to effeGtively access their nursery provision.
Little Stars Early Years Trustees. Annual Report fcontlnued) Year Ended 31 August 2024 We concluded the year wlth an end of term Summer Ba51 for all childr8n and thelr families to attend free of charge. We had a disco and food and all children received end of term grfts. All of our leavers also attended an extra fun day where they were presented with a memento of their time at Little Slars Early Years. Financial Review The main sources of funding during the year were.. Childcare fees and funding £150,697 income from the state or parents to cover childcare provisions,. The accounts show a net surplus after all costs of £38,982 (2023 - deficit of £13.925). This brings the total unrestricted reserves carried forward to £162.939. The charity aims to maintain reserves at one academic terms running costs to ensure the continual smooth ongoing running of the services. This equates to approximately £38.000 at 31 st August 2024. The additional reserves are being held to support the developmenl work this year and increasing staff Gosts over the next few years. rn Governing Document Litue Stars Early Years is a registered charity (No 1153686> and Is govemed by a document of constilution. Recruitment and Appointment of New Truste8S The organisation seeks to maintain a board of trustees who can add value and contribute to the delivery of the service. Truslees are invited to attend a meeting of the Board of Trustees before being formally appointed. Naw trustees are offered individual inductions and guidance on their role by the Chair, Treasurer or Chief executive. at the point when they agree to join the board. Trustees are appointed by election at the Annual General Meetlng or at the termly trustee meetings. Organisatlonal Structure Day to day management of the charity was delegated to Mrs K Luther, CEQ. The board of trustees meet 6very academic term and maintain regular contact with Mrs Luther throughout the year.
Little Stars Early Years Trustees. Annual Report (¢onlinued) Year Ended 31 August 2024 Reference and AdmSnlstrative Detsils Register8d charity namg Little Stars Early Years Charity registratlon number 1153686 Principal office Clo IAfjllington Children's Centre Chapel Street Willington County Durham The Trustees Julie Relf Kale Luther Laura Mcmain Stephen Wallace Joanne Bromley Independent Examlner Jane Ascroft FCA MA (Cantab) Enterprise House Hamiire Enterprise Park Barnard Castle County Durham DL12 8XT The trustees, annual report was approved on trusteès by.. Zo Iii /L¥....... and signed on behalf of the board of Julie Relf Trustee
Little Stars Early Years Independent Examiner's Report to the Trustees of Little Stars Early Years Year Ended 31 August 2024 I report to the trustees on my examination of the financial statements of Little Stars Early Years ('the charity,) for the year ended 31 August 2024. Responslbilities and Basis of Report As the trustees of the charity you are responsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Acl and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent Examinerfs Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respecl of the charity as required by section 130 of the Act., or the financial ststements do not accord with those records. or the financial statements do not comply with the applicable requirements concerning the form and cont&nt of accounts Set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a malter considered as part of an independent examination. 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. Jane Ascroft FCA MA (Cantab) Independent Examiner Enterprise House Harmire Enterprise Park Barnard Castle County Durham DL12 8XT
Little Stars Early Years ststement of Financial Activities Year Ended 31 August 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Noto Income and endowments Donalions and legacies Charitable activities other trading activities Total income 300 150,705 441 1,150 1,450 150,705 441 240 103,138 665 151,446 1,150 152,596 104,043 Expenditure Expenditure on charitable activities Total expenditure 113,306 113,306 308 113,614 117,968 117,968 308 113,614 Net incomel(expenditur8) and net movement in funds 38.140 38,982 (13,925) Reconclllatlon of funds Total funds brought forward Total funds carried forward 125,849 2,725 3,567 128,574 142,499 163,989 167,556 128,574 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conb'nuing activities. The notes on pages 8 to 15 form part of these financial statements.
Little Stars Early Years Statement of Financial Posftlon 31 August 2024 2024 2023 Note Flxed As66ts Tangible fixed assets 13 1.050 1,755 Current A88ets Debtors Cash at bank and in hand 14 1,469 126,054 187,270 187,270 127,523 Credltor6: amounts falllng due wlthln ong year Net Current A88ets 15 20.764 704 166,506 167,556 167.566 126,819 128,574 Total A880ts Lo88 Current Llabllitl•8 Net A3ts 128,574 Funds of the Charfty Restricted funds Unrestricted funds 3,567 163,989 2,725 125,849 Total charlty funds 18 167,656 128,574 These financial statements were approved by the board of trustees and authorised for issue on and are signed on behaff of the board by.. ulie Relf Trustee Kate Luther Trustee The notes on pages 8 to 15 form part of these financial statements.
Little Stars Early Years Notes to the Financial Statements Year Ended 31 August 2024 General Infomiatlon The charity is a public b8nefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal Offi is 14 Cragside Close, Spennymoor, County Durham, DL16 7SD. statemenl of Compliance These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. Accounting Policias Basls of Preparation The financial statements have been prepared on th8 historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investments measured at fair value through income or expenditur@. The financial statements are prepared in sterling, which Is the functional currency of the entity. The entity is a Public Benefit Entity. Going Concern There are no material uncertainties about the charity's ability to continue. Judgements and Key Sources of Estimation Uncertainty The preparation of the financial statements requires managemenl to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually revlewed and are based on experience and other factors, Including expectatlons of future events that are believed to be reasonable under the circumstances. The Trustees consider that there are no significant estimates or judgements affecting thes8 financial statements. Fund Accounting Unrestricted funds are availabl8 for use at the discretion of the trustees in furtherance of the purposes of the charity. Designated funds are unrestricted funds earmarked by the trustees for specific purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor,
Little Stars Early Years Notes to the Flnancial Statements (contlnued) Year Ended 31 August 2024 Accountlng Policlas (Continued) Income All income is included in the ststement of financial activities when the charity is entitled to the income, any performance related conditions attached have been met or are fully within the control of the charity, the income is considered probable and the amount can be quantifjed with reasonable accuracy. The following spacific policies are applied to particular categories of income.. Donations and legacy income is received by way of donations, legacies, grants and gifts and is included in full in the Statement of Financial AGtivities when receivable. Where legacies have been notified to the charity but the criteria for income recognition have not been mel. the Segacy is treated as a Gontingent asset and disclosed if material. Grants. where entitlement is not conditional on the delivery of a specSfic performance by the charlty, are recognis8d when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity. being th8 amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. Investment income Is included when recelvable. Income from charitable trading activity is accounted for when eamed. Income from grants. where related to performance and specific deliverables. are accounted for as the charity earns the right to consideration by its performanGe. Expendlturo Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which It relates.. Costs of raising funds comprise the costs associated with attrdcting donations, grants and legacies and the costs of trading for fvndraising purposes. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activits'es. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. others are apportioned on an appropriate basis. as set out in the notes to the accounts. Tanglble Assets All fixed assets are initially recorded at cost.
Little Stars Early Years Notes to the Financial Statements (conllnuedj Year Ended 31 August 2024 Accountlng Pollcles (Contlnued) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful economic life of that asset as follows: Equipmenl 25 /0 reducing balance Impairment of Flxed Assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amounl being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impaimients are also Trviewed for possible reversal at each reporting date. For the purposes of Impalrment testlng, when it Is not possibl8 to estimate the recoverable amount of an individual asset, an estimate Is made of the recoverable amount of the cash-gen8rating unit to which the asset belongs. The cash-generating unit is tha smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of th8 cash inflows from other assets or groups of assets. For Impalrment testlng of goodwlll, the goodwlll acquired In a business comblnatlon Is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Flnanclal Instruments The charity only has financial assets and liabilities of a kind that qualify as b8siG financial instruments. Basic financial instruments are initially recognised at trans8Ction value and subsequently measured at their settlement value. Deflned Contrlbutlon Plans Contribulions lo defjned conlribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in fiJtur8 payments or a cash refund. When contributions are not expected to be settle-d wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on 8 discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. -10-
Little Stars Early Years Notes to the Financial Statements (continued) Year Ended 31 August 2024 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income and tax recoverable is included at the best estimate of the amounts receivable at the balance sheet date. Cash at Bank and in Hand Cash at bank and cash 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 aGcount. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or @stimated reliably. Creditors are normally recognised at their settlement amount after allowing for any Irade discounts due. Taxatlon The company is considered to pass the tests set out in Paragraph 1 Sch8dule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the company is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Donations and Legacies Unrestricted Funds Restricted Total Funds Funds 2024 Grants Oth&r grants Household Support Fund 300 300 1,150 1,150 300 1,150 1,450 Unrestricted Funds Restricted Total Funds Funds 2023 Grants Other grants 240 240 240 240
Little Stars Early Years Notes to the Financial Statements (contlnued) Year Ended 31 August 2024 Charitable Actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Childcare fees and funding Other income from charitable activities 150,697 150,697 102,908 230 102.908 230 150,705 150,705 103,138 103,138 Other Trading Activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fundraising income 441 441 665 665 Expenditura on Charltable Activitl•s by Fund Typo Unrestricted Funds Restricted Total Funds Funds 2024 See analysis on page 17 113,306 308 113,614 Unrestricted Funds Restricted Toial Funds Funds 2023 See analysis on page 17 117.736 232 117.968 Expenditure on Charitable Activities by Activlty Type Activities undertaken Totsl funds directly 2024 Total fund 2023 See analysis on page 17 113,614 113.614 117,968 Nat Incomel{Expenditur6) Net incomel(expenditure) is stated afler chargingl(crediting)'. 2024 2023 Depreciation of tsngible fixed assets 705 584 10. Independent Examination Fees 2024 2023 Fees payable to the independent examiner for: Independent examination of the financial statements 324 324 12-
Little Stars Early Years Notes to the Financial Statements (eontlnuad) Year Ended 31 August 2024 11. Staff Costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 90,500 3,304 93.804 88,281 2,905 91,186 The average head count of employees during the yaar was 5 (2023.. 6). The average number of full-time equivalent employees during the year is analysed as follows-. 2024 No. 2023 No. Number of staff No employ88 reGeived employee benefits of more than £60,000 during the year (2023- Nil}. 12. Trustee Remuneratlon and Expenses Trustees received no expenses during the period. One trustee, Kate Luther, was employed by the charity and received a gross wage of £34,342 (2023 - £33,008) during the year. During the year the charity paid £594 (2023 £678) to Applause Accountancy Services Limited for payroll services. One of the trustees, Julie Relf, is a director of Applause Accountancy Services Limited. 13. Tangible Fixed Assets Equipment Total Cost At 1 September 2023 and 31 August 2024 Depreciation At 1 September 2023 Charge for Iha year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 8.450 8,450 6,695 705 6,695 705 7,400 7,400 1,050 1,050 1,755 1,755 14. Debtors 2024 2023 Prepaym8nts and accrued income 1.469 13
Little Stars Early Years Notes to the Financial Statements {continuedJ Year Ended 31 August 2024 11. Staff Costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Employer conlributions to pension plans 90,500 3,304 88,281 2,905 93.804 91.186 The average head count of employees during the year was 5 (2023.. 6). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 Number of staff No employee received employee benefits of mor8 than £60,000 during the year {2023: Nil}. 12. Trustee Remuneration and Expenses Truslees received no expenses during the period. One trustee, Kate Luther, was employed by the charity and received a gross wage of £34.342 (2023 - £33,008) during the year. During the year tha charity paid £594 {2023 £678) to Applause Accountancy Services Limited for payroll services. One of the trustees, Julie Relf, is a director of Applause Accountancy ServiGes Limited. 13. Tangible Fixed Assets Equipment Total Cost At 1 September 2023 and 31 August 2024 Depreciation At 1 September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 At 31 August 2023 8.450 8.450 6,895 705 6,695 705 7,400 7,400 1,050 1,050 1,755 1,755 14. Debtors 2024 2023 Prepayments and accrued income 1,469 13
Little Stars Early Years Notes to the Financial Statements (contlnue Year Ended 31 August 2024 15. Credltors: amounts falllng due wlthln one year 2024 2023 Accruals and deferred income Other creditors 20,508 256 300 404 20,764 704 16. Deferred Income 2024 2023 At 1 September 2023 Amount released to income Amount deferred in year At 31 August 2024 16,997 (16,997) 20,208 16,997 (16,997) 20,208 Deferred incom8 ropresents funding for the autumn term received in advance. 17. Pensions and Other Post Retirement Beneflts Defined contrlbutlon plan8 The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,304 {2023.. £2,905). 18. Analysls of Charitabla Funds Unrestricted funds At 1 September 2023 At 31 August 2024 Income Expenditure General funds Capital fund 123,510 2,339 151,446 1112,017) (1,289) 1113.306) 162,939 1,050 125,849 151,446 163,989 At 1 September 2022 At 31 August 2023 Income Expenditure General funds Capital fund 137,443 2,339 103,803 1117.736) 123,510 2,339 139,782 103,803 (117,736) 125,849 14-
Little Stars Early Years Notes to the Financial Statements (contlnuedj Year Ended 31 August 2024 18. Analysis of Charllable Funds (¢ontinuedJ Restrlcted funds At 1 September 2023 At 31 August 2024 Income Expenditure DCC Sustainability grant DCC Capital grant CDCF grant Groundwork grant Household Support Fund 1,229 1,229 834 654 834 654 842 1,150 (308) (308) 2,725 1.150 3,567 At 1 September 2022 At 31 August 2023 Income Expenditure DCC Sustainability grant DCC Capital gr8nt CDCF grant Groundwork grant 1,229 1,229 240 (232) 834 654 834 654 2,717 240 (232) 2,725 Tha restricled funds are for the following purposes: The DCC Sustainability grant is towards rent. resources and fumiture The grant from County Durham Community Foundation is for home leaming. Th8 grant from Groundworf( is for outdoor equipment. 19. Analysls of Net Assets Betweon Funds ' Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assots 1,050 183.703 (20,764) 163,989 1,050 187.270 {20,764) 167,556 3.567 3,567 Unrestricte(J Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1.755 124,798 (704> 125,849 1,755 127,523 {704) 128,574 2,725 2,725 15.
Little Stars Early Years Management Infomiation Year Ended 31 August 2024 The Following Pages Do Not Form Part of the Flnancial Statements. -16-
Little Stars Early Years Detailed Statement of Financial Activities Year Ended 31 August 2024 2024 2023 Income and endowments Donations and legacies other grants Household Support Fund 300 1,150 240 1,450 240 Charitable activitles Childcare fees and funding other income from charitable activities 150,697 102,908 230 150,705 103,138 Other trading activities Fundraising income 441 665 Total income 152,596 104,043 Expenditure Wages Pension costs Rent Insurance Legal and professional fees Uniforms Depreciation Staff training and expenses Materials, resources and aGtivities Equipment ICT and admin costs Fundraising costs Sundry costs Total axpenditure 90,500 3,304 11,808 711 1.766 88,281 2,905 15,442 611 5,647 636 584 660 1,642 456 624 502 (221 117,968 705 642 1,260 1,288 1,108 65 457 113,614 Net incomel(expenditure) 38,982 (13,925) -17-