COMPANY REGISTRATION NUMBER: 08812259 CHARrrY REGISTRATION NUMBER: 1157645 Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Audited Financial Statements 31 March 2024 Jackson & Jackson A trading name of Jackson Nicholas Assie Limited Chartered Certified Accountants & Statutory Auditors Suite 7, Meridian House 62 Station Road, Chingford London E4 7BA
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 14 15 16 Notes to the financial statements 17
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. Referance and admlnlstratlve detalls Reglstered charlty name Llttle Learners Nursery Group (formerly Nurseries of St. Mary'8 & St. Savlour's) Charlty roglstratlon number 1157645 Company raglslratlon number 08812259 Prlnclpal offlGe and reglstered Brooke Road offlca Walthamstow London E17 9HJ The trustees Elaine James Laurence Jones - Chair Jessica Elliot Leann Valiquetle Jennifer Matth8WS Cherry Boyce {Retlred 19 June 2024) {Retlred 1 September 2023) (Appointed 19 Janu8ry 2024) Flnan¢e Admln18trator Karen Mlllen Audltor Jackson Nicholas Assie Llmited Chartered CertifSed Accountants & statutory audltor Suite 7, Meridian House 62 Statlon Road Chingford London E4 7BA Bankers Lloyds Bank 182 High Street Walthamstow London E17 7JH Jackson Nicholas Assie Limited Chartered CertifiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report {Incorporating the Directovs Report) f¢ontlnued) Year ended 31 March 2024 The Trustees present their report and the audited financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in preparing the annual report and financial statements of the charity. Trustees of the charlty The directors of the charitable company are it8 trust8es for the purposes of charity law. None of the Trustees had an interest in any contract or transaction during the year under revlew. OBJECTIVES AND ACTIVITIES Purposes and Alm8 Our Charlty's purposes as set out In the objects contalned In the company's Memorandum of Assoclatlon are to: a) Provlde a broad, balanced early days currlculum that conslders chlldren's rlghts and needs.. health, education and protectlon, fostering independence and self-esleem and meet the Early Learnlng Goals and a supportlve framework for chlldren under five as laid down by the Department of Education; b) Support the education and well-belng of chlldren altendlng Llttle Learners Nursery, Brooke Road, Walthamstow and Little Learners Nursery, Verulam Avenue, Walthamslow, by way of grants from the Local Aulhorlly c) We are not proflt-making - so any surplus we make Is used to further our organisatlon's purposes. d) We are independent- that is. we are not a part of any governing department, local authorlty or any other stalutory bodles. The above purposes are the Company's charitable purposes for the purposes of the 2011 Act. For as long as the Company is a registered charity. its purposes may only be altered wilh the prior consent of the Charlty Commlssion and in accordance with any condltlons attached to such consent. The Charlty has power to do anything which Is calculated to further Ils charltable purposes or Is conducive or incidental lo doing so. In particular. the Nursery recognises that: (a) every chlld Is unlque and should be recognlsed as bolng of •qual worth. (b) every chlld has physlcal, emotlonal, intellectual, Ilngulstlc, soclal and splrltual needs; these should be developed respecting the chlld's raca, culture and background. (c) every chlld develops best In a lovlng nurturlng home envlronment and parentlng needs to be positively valued and promoted. {d) To work in partnership with parents, recognising that the educatlon of a child Is a shared task involving positive contributions from parentslcarers, children and nursery staff., (e) To ensure that children are learning to express their own feelings, to develop their skills of co-operation, respect, negotiations and problem solving (fj To offer a secure, safe, welcoming environment which promotes stimulation and positive learning. Jackson Nicholas Assie Limited Chartered Certi]iedAccountants
Little Learners Nursery Group (fomierly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontinu Year ended 31 March 2024 Ensurlng our works dellvers our alms We review our aims, objectlves and activities on an 8nnual basis. This looks at what we have achieved and the outcome of our work in the previous 12 months. This review help8 US to ensure our objectives and aims remain focussed on our stated purposes. The Focus of our work Our maln oblectlve continues to be to provide a broad and balanced E8rly Year8 Foundatlon educatlon and to offer a safe, welcoming environment which promotes stlmulation and positlve learnlng. How our actlvltle8 dollver publlc beneflt We have referred to the guidance contained In the Charity Commlsslon's general guldance on publlc benefit when reviewing our aims and objectives and in planning our future activltles. In particular, the trustees consider how planned activities will contribute to the aims and obj8ctives they have set. Through good quality chlld care and support we enable parents and families to malntaln financlal Independence through work or to contlnue In further education. Some of our children ar& supported to remain in fragmented famllles through our extended care and support through grants from the local authorlty. Children are able to learn and develop networks and skllls whilst being looked after in comfortable and Safe envlronment. ACHIEVEMENTS AND PERFORMANCE The Little Learners Nursery based In Brooke Road Walthamstow and also at Verulam Avenue slte are nurseries which have been judged outstanding. Our children achieve at the end of thelr time In the nursery a good understanding of baslc literacy and numeracy and are able to socialise and interact with thelr peers and adults. Thelr learnlng and development is rigorous which mean8 all children, Including those with speclal educational needs or learnlng English as an additlonal language make slgnificant progress in their learnlng and development. The staff work exceptlonally well and Involve parents in all aspects of their chlldren's care. ThSs supports children's wellbeing. Our Staff have effectlve links with other provlders 8nd agencies to seek specialised support as and when required. The Forest School caters for the outside education of 3 4 year olds. The Forest School 18 full and has a waiting list. The Forest School offers a unique opportunlty for children to thrive in the outdoors and includes all sorts of educational outdoor activities which includes onsite tepees, ponds, mud kitchens, hammocks, fire pit, stone circle, tree climbing, wlllow arch, bug hotels, den making and alpacas, Our nurserles at both sites have expanded again from September 2024 since the Government announced the new funding from September 2024 for babies and 2 year olds and the new funding initiatives will continue until September 2025. Our nurseries even though they have expanded we still continue to thrive and have waiting lists for the baby, loddler and pre-school rooms together with the Forest School. We are looking at the potential of opening a further nursery on the premises of our other school within the Trust, St. Margarel's in Barking. We are very excited at the prospect of opening a further nursery. Jackyon Nicholas Assie Limited Chartered Certified Accountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 STRUCTURE GOVERNANCE AND MANAGEMENT Governlng document The organisation is a charitable company limited by guarantee, Incorporated on 121h December 2013, and registered as a charity on 30 June 2014. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Artlcles of Association. In the event of the company being wound up members are required to contribut8 an amount not exceeding £10.00 Recrultment and Appolntment of Membar8 of tha Company The directors of the company are also charlty trustees for the purposes of charity law and under the company's Articles are known as members of the Company. Due to the nature of working wlth children under the age of 5 much of the charlty's work focuses upon the under 5's. With thls in mind the Members of the Company seek to ensure that the needs of thls group are approprlately reflected through the trustee body. We therefore ensure that our stakeholders, the parents, local community and church community are used to advertlse for members to asslst us uslng thelr own experiences with the under 5's to assist with the Nurseries. Our current members are extremely knowledgeab18 In all aspects of the charlty Including flnancial and educational. Rl8k Management The Members of the Company have, where appropriate, put in place syslems to mltlgate the rlsks whlch the charlty may face. External rlsks to fundlng have led to the company purchasing a computerised syslem to ensure that the nursery is full to G8paGlty in Ilne wlth the Local Authorlty's fundlng criteria for the 8arly years free entitlement funding. Internal controls rlsks are mlnlmlsed by the implementation of procedures for authorisation of all transactlons and projects. A robust system of accounts Is In place which ensures that there 5s a sound practice of flnancial management. Durlng 2023124 two maln risks were identlfied for partlcular monitorlng: The Increased cost of uslng secondmentslagencles to cover vacancies or to find permanent replacement staff The local shortage of trained and experlenced staff Arrangements were made to mitigate these risks as follows.. Maintalning a sufficient pool of bank staff to cover short term absences Supporting staff undertaking further career development Procedures are in place to ensure compliance with health and safety of children, staff, volunteers and visitors to the Nurseries. Safeguarding procedures are followed vigorously. These procedures are reviewed annually to ensure that they continue to meet the needs of the Charity. Jackson Nicholas Assie Limited Chartered CertifiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (con*nued) Year ended 31 March 2024 Organlsatlonal Structure The Little Learners have a committe8 of up to 4 members who meet at least annually and are responslble for the strategic direction and policy of the Charity. The committee members come from a variety of professional backgrounds all of whlch are relevant to the work of the Charity, A Scheme of Delegation Is in place and day to day re8ponslbllity of the provision of the services rests with the Managers at both nurseries ensuring that the Charity delivers the servlc@s specified and meets the Early Learning Goals and a supportive framework for children under flve as laid down by the Department for Educatlon along with the Chief Finance Officer and Finance & Development Manager seconded from the Genesis Education Trust ensuring Ihat the finances and admlnistr8tlon of the Charlty are run to the highest standards. There is a clear management structure. FINANCIAL REVIEW Our Nurseries are at full cap8Clty and have a reserves fund followlng a financial rlsk a888ssment whlch consider any dip in numb8rs during the Autumn months 8nd for mobllity reasons. This financial year we have ensured we have a surplus and Ihe reserves contlnue, We have also increased our fees whlch takes Into account the Increase in staffing and rental costs. The financial position of the charity can be found In the maln flnancial statements and related notes. At the end of the reporting period the charity had made a surplus of £115,53112023' £161,172). The charity's reserves at the end of the reporting perlod are £328.405 (2023: £212,874). all of which are unrestricted. The charity will alm to continue to bulld reserves, this will b8 monltored by the trustees on a regular basls. RESERVES POLICY 1. The Trustees recognise their responsibllity to have a transparent policy on managlng the resources of the company, including financial reserves. They acknowledge this as a requlrement under the Statement of Recommended Practlce: Accounting and Reporting by Charities._ 2. The temi 'reserves' is defined as that parl of the charity's funds that are freely avallable for general purposes and relates to income classified as unrestricted funds, which is available to spend on general Gharity purposes, once all its commitments have been met and its planned expenditure has been covered. 3. The Trustees believe that St Is generally in the Interests of the charily to work towards a positlon of holdlng reserves that would cover 2 months operating costs. This is to ensure adequate cash flow flexibility to meet emergency measures and unpredictable variations In expected income. PLANS FOR THE FUTURE We are actively marketing the Barking area to see if it is a viable option to open a further nursery at our school site in Baring. We are advertising for additional staff to cover the expansion. We have increased the staff salaries to ensure we retain our staff and enhanced our staff packages ensuring staff mental health and well-being. Jackyon Nicholas Assie Limited Cltartered CertiJiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Events after the and of the reportlng perlod Particulars of events after the reporting date are detailed In note 23 to the financial statements. Tru8tee8' responslbllltles statement (a) the directors are responsible for preparlng the Directors, Report and the financial ststements in accordance with applicable law and regulation8 and In accordance with Unit6d Kingdom Generally Accepted Accounting Practlce., (b) company law requires the dlrectors must not approve the financial statements unless they are satisfied that they give a true and fair vlew of the state of affalrs of the charity and of the surplus or deficit proflt or loss of the charity for that perlod., in prep8rlng the flnanclal st8tements the directors are r8qulred to.. (11 select suitable accountlng pollcles and then apply them consistently: (11) make judgements and accounting estimates that are reasonable and prudent., {iil) State whether applicable accountlng standards have been followed, subject to any materlal departure8 disclosed and explalned In the flnanclal statements. and (Iv) prepare the financial statements on the golng concern basls unless It Is Inappropriate to presume that the charlty wlll contlnue In buslness. (c) (d) the dlrector8 are responsible for keeplng adequate accountlng r8cords that are sufflcient to show and explaln the company's tr8nsactlons and disclose wlth reasonable accuracy at any tlme the financlal posltlon of the charlty and that enable them to ensure that the flnancial statements comply with the Companies Act,. (e} the directors are responslble for safeguardlng the assets of the charity 8nd hence for taklng reasonable steps for the prevention and detection of fraud and other irregularities; and where appropriate, the directors are responsible for the maintenance and Integrlty of the corporate and financial information Included on the charity's website. In the case of CA 06 Co.-s418{2) each of the persons who are dlrectors at the time when the report is approved, the following applies.. (a) so far as 8ach dlrector Is aware, there Is no relevant audit information (information needed by the company's auditors in connection with preparing their report) of which the company's auditors are unaware., and (n (b) each director has taken all the steps that he ought to have taken as a director In order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006. Jackson Nicholas Assie Limited Chartered CertifiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) fcontinuetl) Year ended 31 March 2024 Small company provlslons This report has been prepared In accordance wlth the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 11 December 2024 and signed on behalf of the board of trustees by.. Elaine James Trustee Jacknon Nicholas Assie Limited Chartered CertifiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Independent Auditor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviourfs) Year ended 31 March 2024 Oplnlon We have audited the financial statements of Little Learners Nursery Group (the 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account}, statement of financial position, statement of cashflows and the related notes, Including a summary of significant accounting policie5. The financial reportlng framework that has been applied In their preparalion Is applicable law and United Kingdom Accounting Standards including FRS 102 The Financial Reportlng Standard applicable in the UK and Republlc of Ireland (United Kingdorn Generally Accepted Accounting Practice). In our opinlon the audited financial statements,. give a true and fair vi8w of the state of the charity's affairs as of 31 March 2024 and of its incoming resources and application of resources, inGluding its income and expendlture, for the year then ended. have been properly prepared In accordance with United Klngdom accounting stsndards, including FRS102 The Flnanclal Reportlng Standard appllcable in the UK and Republic of Ireland; and have been prepared In accordance wSth the requlr8ments of the Companies Act 2006. Ba8ls for oplnlon We conducted our audlt In accordance wlth Internatlonal Standards on Auditing {UKI (ISAS (UK)) and appllcable law. Our responsiblllties under those standards are further descrlbed in the auditor'8 responsibilities for the audit of the flnanclal statements section of our report. We are Sndependent of the charlty in accordance with the ethical requirements relating to the audlt of the financial statements In the UK, including the Flnanclal Reporting Standards (Ihe 'FRC'sl Ethical Standard, and we have fulfilled our other ethical responslbilities in accordance with these requirements. We believe that the audlt evidence we have obtained is sufflcient and 8pproprlate to provide a basis for our opinion, In common wlth m8ny other charltles of this slze and nature the auditors are used to 8SSiSt wlth the preparation of the financial statements. Concluslons relatlng to golng concern In auditing the flnancial statements. we have concluded that the trustees use of the going concern basis of accounting in preparatlon of the financial statements is appropriate. Based on the work, we have performed, we have not identified any material uncertaintles relatlng to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least twelve months from when the fin8ncial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Jackson Nicholas Assie Limited Charlered CerÉifiedAccountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Independent Auditor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. SaviouVs) Icontlnued) Year ended 31 March 2024 Other informatlon The other Information comprises the informatlon included In the trustees, report, other than the financial statements and our auditors report thereon. The trustees are responsible for the other information contained within the trustees, report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise expllcitly stated In our report. we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responslblllty Is to read the other information and, In doing so, consider whether th6 other infomiation is materially inconsistent wlth the financial statements or our knowledge obtained In the course of the audlt or otherwise appears to be materially misstated. If we idenllfy such material inconsSstencies or apparent materlal misstatements, we are required to determine whether thls glves rise to a mater181 mlsstatement In the financial statements. If, based on the work we have performed, we conclude that there Is a materlal mlsstatement of this other information, we are required to report that fact. We have nothlng to report In thls regard. Oplnlons on other matters prescrlbed by the Companles Act 2006 In our opinlon, based on the work undertaken In the course of the audlt: the Informatlon glven In the trustees, report (Incorporating the Directors, Report} for the financlal year for which the audlted flnanclal statements are prepared is consistent with the audited financlal statements; and the Dlrectors, Report has been prepared in accordance with appllcable legal requlrements Matters on whlch we ara raqulred to raport by excoptlon In the light of the knowledge and understandlng of the charlty and its envlronment obtalned in the course of the audlt, we have not Identified materlal misstatements in the trustees, report. We have nothing to report in respect of the followlng matters In relation to whlch the Companles Act 2006 requlres us to report to you If, In our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not vlslted by us. or the audlted financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration 8pecified by law are not made. or we have not received all the informatlon and explanations we require for our audit., or the trustees were not entitled to prepare the audited financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors. report and from the requirement to prepare a strategic report. Jackson Nicholas Assie Limited Chartered Certified Accountants
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Independent Audltor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviourfs) (contlnued) Year ended 31 March 2024 Responslbilltles of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements in accordance with the applicable financial reporting framework and for being 8atisfled that they give a true and fair vlew, and for such Internal control as the trustees determine is necessary to enable the preparatlon of audited financi81 statements that are free from material misstatement, whether due to fraud or error. In preparing the fln8ncial statements, the trustees are responslble for assessing the charity's ablllty to contlnue as a golng concern, disclosing, as appllcable, matters related to going concern and using the golng concern basis of accounting unless the trustees either Intend to liquidate the charity or to cease operations, or have no realistlc alternative but to do so. Audltorfs Rosponslbllltle8 for the Audlt of the Flnanclal Statements Our objectlves are to oblaln reasonable assurance about whether the flnanclal statements as a whole are free from material misstatem8nl, whether due to fraud or error, and to Issue an audltor's report that Includes our opinion. Reasonable assurance Is a high level of assurance but is not a guarantee that an audit conducted In accordance with ISAS (UK) wlll always detect a material misstatement when It exists. Misstatements can arise from fraud or error and are consldered material if, individually or in the aggregate, they could reasonably be expected lo influence the economic decisions of users taken on the basls of these flnancial statements. As part of an audlt In accordance with ISAS (UK), we exerclse professlonal judgment and malntain professlonal scepticlsm throughout Ihe audit. We also: Identlfy and assess the rlsks of malerlal misstatement of the audlled fSnanc181 statements, whether due to fraud or error, design and perform audlt procedures responsive to those risks, and obtain audit evldence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material mlsstatement resulting from fraud is hlgher than for one resulting from error, as fraud may involve collusion, forgery, intentlonal omisslons, mlsrepresentations, or the override of internal control. Obtaln an understanding of internal control relevant to the audit Sn order to design audlt procedures that are appropriate in the circumstances, but not for the purpose of expresslng an opinion on the effeGtiveness of the internal control. Evaluate the appropriateness of accounting policles used and the reasonableness of accountlng estim8tes and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basls of accounting and, based on the audit evidence obtained, whether a material uncertainty exists relaled to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the audited financial statements or if such disclosures are inadequate, to modify our opinlon. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue a5 a going concem. JackFon Nicholas Assie Limited Charlered CertifiedAccountant.s 10
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Llmited by Guarantee Independent Auditor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) (eontlnugd) Year ended 31 March 2024 Evaluate the overall presentatlon, Structure and content of th8 audlted financlal statements, including the disclosures, and whether the audited financial statements represent the underlying transactions and events in a manner that aGhieves falr presentation. We communlcate wlth those charged with governance regardlng, among other matters, the planned Scope and tlming of the audlt and slgniflcant audit flndings, including any signSficant deficiencies in internal control that we Identify during our audit. Extent to whlch the audlt was consldered capable of detactlng Irregularltl•8, Includlng fraud Irregularltles, Including fraud, are instances of non-compliance wlth laws and regulations. We design procedures in line with our responsibilitles, outllned above, to detect material misstatements in respect or irregularities, including fraud. The extent to which our procedures are capable of delecting Irregularllles, Includlng fraud is detailed below: We consldered the nature of the charlty's Industry and Its control environrnent and revlewed the charity's documentation of their policies and procedures relating to fraud and compllance wlth laws and regulations. We also enquired of m8nagement and others wllhln the entity about their own Identificatlon and assassment of the rlsks of Irregularltles. We obtaln&d an understanding of the legal and regulatory frameworks that the charlty operate8 In, and Identlfied the key laws and regulations that.. had a dlrect effect on the determlnatlon of materlal amounts and disclosures in the flnancial statements, These included the Companies Act, Charities Act, Charities {Accounts and Reports) Regulations 2008, Health and Safety Act, employment law, pensions leglslation, tax legislation, Bribery Act and Slavery Act; and do not have a dlrect effect on the financlal statements but compllance wlth whlch may be fundamental to the charity's abillty to operate or to avold a material penalty. These included the Charity Commission for England and Wales (Charity Commisslon) regulatlons, fundraising regulations and Anti-money Launderlng Regulatlons (Including Proceeds of Crime Act 2002 and Terrorlsm Act 2000) We discussed among the audit engagement team regarding the opportunitles and Incentives that may exist within the organisation for fraud and how and where fraud might occur In the financial statements. As a resull of performing the above, we Identified the greatest potential for fraud in the following areas, and our specific procedures performed to address them are described below.. Recognition of grant income.. this involves judgement around whether grants have performance conditions attached to them which have to be met before income can be recognised, as well as judgement over whether or not those conditions have been satisfied. On a sample basis, we have assessed the judgements and estimates made by management in the recognition of this income. Jackson Nicholas Assie Limited Charlered CertifiedAccountants 11
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Independent Auditor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviourfs) (continued) Year ended 31 March 2024 Appropriate allocation of restricted income: there Is a rlsk that restricted income may not have been identified and allocated as such. We reviewed the allocation of income to restricted or unrestricted funds on initial recognition to ensure restrictions were appropriately identified and applied, and we reviewed fund transfers from restrlcted to unrestricted funds to assess the rationale for those movements. In common with all audits under ISAS (UK), we are also required to perform sp6clfic procedures to respond to the risk of management override. In addresslng the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments. assessed whether the judgements made in maklng accountlng estimates are indicative of a potential blas; and evaluated the business rationale of any signlflcant transactions that are unusual or outslde the normal course of buslness. In addltlon to the above, our procedure8 to respond to the rlsks Identlfled included th8 followlng: revlewlng financlal Statement dlsclosures by testlng to supportlng documentatlon to assess compllance wlth provlslons of relevant laws and regulations described as having a dlrect effect on th8 flnanclal statements., performlng analytical procedures to Idenllfy any unusual or unexpected r8latlonshlps that may indicate risks of material mlsstatement due lo fraud; enqulrlng of management concerning actual and Poientlal Iltlg8tlon and clslms, and Instsnces of non-compliance with laws and regulations,. and readlng mlnutes of meetings of those charged with governance, reviewlng internal management report8, revlewing correspondence wlth HMRC and with the Charity Commission. Jackson Nicholas Assie Limited Chartered CertifiedAccountaNts 12
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Llmited by Guarantee Independent Auditor's Report to the Members of Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviouvs) (contlnued) Year ended 31 March 2024 Use of our report This report Is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responslbilily to anyone other than the charity and the Charity's members a8 a body, for our audit work, for this report, or for the opinions we have formed. John Assle FCCA (Senior Statutory Audltor) for and on behalf of Jackson Nlcholas Assle Llmlted Chartered Certified Accountants and Statutory Audltors Suitc 7, Mci'idian HoLise 62 Station Iload Noi'th Chingfoi'd London E4 7DB 12 Decembci. 2024 Jackson Nicholas Assie Limited Chartered Certified Accountants 13
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Statement of Financial Activities (Including income and expenditure account) Year ended 31 March 2024 2024 Unrestricted funds Total funds Tot81 funds 2023 Note Income and andowments Charitable activities Investment income Other Income 3,150,435 25 3.400 3,150,435 25 3,400 3,153,860 2,653,887 15 700 Total Incoma 3,153,860 2,654,602 Expendlture Expendlture on charitable activitles Totsl expendlture 8,9 {3,038,329) (3,038,329> (2,493,430) (3,038,329) (3,038,329) (2,493,430) Net Income and net movement In funds 115,531 115,531 161.172 Reconclllatlon of funds Total funds brought forward Total fundj carrled forward 212,874 328,405 212,874 328,405 51,702 212,874 The ststement of flnanclal 8Ctivltles Includes all galn8 and losses recognlsed In the year. All Income and expenditure derive from continulng activitles. The notes on PAges 17 to 25 form part of these financlal statements. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 14
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Statement of Financial Positlon 31 March 2024 2024 Note 2023 Current assets Debtors Cash at bank and in hand 219,995 373,091 228,256 127,830 356,086 593,086 Credltors: amounts falllng du• wlthln one year Net current assets Total a88et8 le88 current Ilabllltles Net assets 17 {264,681) (143,212) 212,874 212,874 212,874 328,405 328,405 328.405 Funds of the charlty Unr8strlcted funds Total charlty funds 328,405 328,405 212,874 212,874 19 These financial statements have been prepared In accordance wlth the provlslons appllc8ble to companles subject to the small companles, reglme. These flnanclal statements were approved by the board of trustees and authorlsed for Issue on 11 December 2024, and are slgned on behalf of the board by: Elaine Jam88 Trustee Jennifer Matthews Trustee Company Reglslratlon Number.. 08812259 The note5 on pages 17 to 25 form part of these flnanclal statements. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 15
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2024 2024 2023 Cash flows from operatlng actlvltles Net income 115,531 161,172 Adjustments for.. Other interest receivable and simllar income Accrued expenses (25) 112,628 (15) 3,589 Changes In., Trade and other debtors Trade and other creditors Cash generated from operations Interest recelved 8,261 8,841 (51,658) {68,459) 44,629 245,236 25 15 Net Increase In cash and cash aqulvalent8 Cash and cash equlvalents at beglnnlng of year Cash and cash equlvalents at end of year 245,261 127,830 373,091 44,644 83,186 127,830 Jackson Nichola.s Assie Limited Chartered Certified Accountants 16
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Information The charlty is a publlc beneflt entity, and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the regi8tered office is Brooke Road, Walthamstow, London, E17 9HJ. Statement of compllanGe The flnancial statements have been prepared in accordance with the Statement of Recommended Practice.. Accounllng and Reporting by Charities preparing thelr accounts In accordance with the Financial Reporting Standard applicable in the UK & Republic of Ireland (FRS 102> Issued in October 2019 and the Financlal Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and, the Companles Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019. Accountlng pollcles Ba315 of preparatlon The ftnanclal statements have been prepared on the hlstorlcal cost b8sIs. The fln8nclal statements are prepared In sterllng, whlch Is the functlonal currency of th8 entity. Golng concern The trustees hav8 considered all relevant factors, on the ch8rity's actlvltles and have concluded there Is no slgnlflcant Impact on the organlsatlon. It Is therefore consldered that the golng concern status remalns Int8Ct and there are no materfal uncertaSntles about the charlty's abllity to contlnue. Judgements and key sour¢08 of estlmatlon unc•rtalnty The preparation of the flnancial statements requires management to make Judgements, estimates and assumptlons that affect the amounts reporled. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectatSons of future events that are believed to be rea8onable under the circumstances. There have not been any judgements (apart from those Involving estlmationsl that management has made in the proce55 of applying the entlty's accounting policles and that have the most slgnificant effect on the amounts recognised in the financlal statements. Key sources of estimation uncertainty Accounting estlmates and assumptlons are made concerning the future and. by their nature, will rarely equal the related actual outcome. There have not been any key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabililies within the next financlal year. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 17
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financlal Statements f¢ontlnued) Year ended 31 March 2024 Accountlng policlas (contlnued) Fund accountlng Unrestricted funds are available for use at the dlscretlon of the trustees to further any of the ch8rity's purposes. Deslgnated fund8 are unrestricted funds earmarked by the trustees for partlcular future project or commitment. Restricted funds are subjected to restrlctlons on their expenditure d8clared by the donor or through the term8 of an appeal and f811 into one of two sub-classes.. restricted income funds or endowment funds. InGomlng r8sourc98 All Income is Included In the statemenl of flnanclal actlvltles when entitlement has passed to the charity, It is probable that the economic benefits associated with the transaction will flow to the charlty and the amount can be reliably measured. The following specific policles are applied to partlcular categorles of Income.. Income from donatlons or gr8nt8 is recognised when th8re1s evldence of entitlement to the glft, rec8lpt18 probable and Its amount can be measured reliably. legacy Incoma Is recognlsed when recelpt Is probable and entltlement Is est8bllsh8d. Income from contracts for the supply of servlces Is recognised wlth the delivery of the contracted service. This Is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a partlcular purpose and returned if unspent, in which case It may be regarded as restricted. Resources expended Expendlture Is recognised on an accruals basls as a1Sability is incurred. Expendlture includes any VAT which cannot be fully recovered, and Is classlfied under headlngs of the statement of flnanclal activltles to which It relates.. expenditure on ralslng funds Includes the costs of all fundraising activltles, events, non-ch8ritable trading activities. and the sale of donated goods. expenditure on charitable activitles includes all costs incurred by a charity in undertaking adivities that further its charitable aims for the benefit of its beneflciaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated direGtly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 18
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Accountlng pollcles (contlnued) Operatlng leases Rentals payable under operating leases, where 8ubstantially all the risks and rewards of ownership remain with the lessor, are charged to the statement of financlal actlvities on a stralght line basis over the life of the lease. Tanglble a88ets Flxed assets {excluding investments) are stated at cost less accumulated depreclation. The costs of minor addltlons or those costing below £20,000 are not capitallsed. Depraclatlon Depreclation is calculated so as to write off the cost or valuatlon of an asset, less Its resldual value, over the useful economlc life of that asset as follows: Improvement to leasehold property 5 years straight Ilne basis Equipment 4 years stralght Iln8 basls Impalmient of fixed assets A review for Indlcators of Impairment Is carrled out at each reportlng date, wlth the recoverable amount belng estlmated where such indlcators exlst. Where the carrylng value exceeds the recoverable amount, the a8set Is Impalred accordlngly. Prlor Impalrments are also reviewed for possible reversal at each reporting date. For the purposes of Impaiment tasting, when It is not possible to estlmate the recoverable amount of an Indivldual asset, an estimate is made of the recoverable amount of the cash-generatlng unit to which the asset belongs. The cash-generating unit Is the smallesl Identifi8ble group of assets Ihat includes the asset 8nd generates cash inflows that 18rgely Independent of the cash Inflows from other assets or groups of assets. Flnanclal Instruments A flnancial asset or a flnanclal liability 18 recognised only when the entity becomes a party to the contractual provlsions of the instrument. Basic financial instruments are initially recognised at the 8mount receivable or payable Includlng any related transactlon costs, unless the arrangement constitutes a flnanclng transaction, where it is recognised at the present value of the future payments discounted at a market rate of Interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 19
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2024 Accountlng pollcles (contlnued) Deflned contrlbutlon plans Contributions to defi'ned contribution 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 wlll lead to a reduGtlon In future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related servlce, the liability is measured on 8 discounted present value basis. The unwindlng of the discount Is recognised as an expense in the period in whlch It arlses. Llmlted by guarantee Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) is a company Ilmlted by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contrlbute such amount as may be requlred not exceedlng £1 to the assets of the charitable company In the event of Its belng wound up whlle he or 8he18 a memb8r, or wlthln one year after he or she ceases to be a member. Charltable actlvltles Unrestr5cted Total Funds Unrestrlcted Total Funds Funds 2024 Funds 2023 Funding from London Borough of W8llham Forest Services provided Servlces provlded Admln Fee Commlsslon Other income - reSmbursement of seconded slaff & expenses Other Income- pension refund 444,365 2,702,633 3,200 237 444,365 2,702,633 3,200 237 433,719 2,199,437 450 463 433,719 2,199,437 450 463 19,804 14 19,804 14 3,150,435 3,150,435 2,653,887 2,653,887 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest reGeivable 25 25 15 15 Jacknon Nicholas Assie Limited Chartered Certi]iedAccountanLs 20
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (Gontlnuod) Year ended 31 March 2024 Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other income - Enjoy Benefits Income 3,400 3,400 700 700 Expendlture on charltable actlvltle8 by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Provislon of nursery facilltles Support costs 3,020,125 18,204 3,020,125 18,204 3,038,329 2,477,224 16,206 2,493,430 2,477,224 16,206 2,493,430 3,038,329 Expendlture on charltable actlvltles by actlvlty typa Activltles undertaken dlrectly Support costs Total funds 2024 Total fund 2023 Provision of nursery facllitles Governance costs 3,020,125 3,020,125 18,204 3,038,329 2,477,224 16,206 2,493.430 18,204 18,204 3,020,125 10. Analy818 of support costs Payroll Annual Corporation services Return Fees Tax Fee8 Total 2024 Total 2023 Audlt Fees Governance costs 13,320 3,900 552 432 18.204 16,206 11. Net Income Net income is stated after ch8rgingllcrediting): 2024 2023 Operating lease rentals 390,427 319,848 12. Audltors remuneration 2024 2023 Fees payable for the audit of the financial statements Fees for non-audit services 9,990 3,330 9,180 3,060 Jackyon Nichola,s Assie Limited Chartered CertifiedAccountants 21
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 13. Staff costs The total slaff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 1,278,011 80,435 44,825 1,403,271 1,126,550 70,446 36,119 1,233,115 The average head count of employees durlng the year was 77 (2023.. 71). The average number of full-tlme equlvalent employees during the year18 analysed a8 follows: 2024 2023 No. No. Number of nursery practltloners 89 50 No employee received employee benefits of more than £60.000 durlng the ye8r12023: NII). Kay Managément Per8onn•l Key management personnel Include all persons that have authorlty and responslblllty for planning, directlng and controlling the actlvlties of the charlty. Th8 total compensation pald to kay management personnel for services provided to the charity was £79,029 (2023: £72,349). 14. Trustee ramuneratlon and exp•n6es no remuneratlon or other benafits from employment w5th the charity or a related entlty were recelved by the trustees (2023., NII) no trustee or other person related to the charlty had any personal Interest In any contract or transactions entered into by the Gharlty during the year (2023: Nil) one or more trustees has clalmed expenses or had their expenses met by the charlty. Durin9 the year £243 wa8 reimbur3ed to E James for costs Incurred In relatlon to the OFSTED visit. 15. Tanglble flxed assets Land and buildings Equipment Totsl Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Carrylng amount At 31 March 2024 2.991 7,595 10,586 2,991 7,595 10,586 At 31 March 2023 Jackson Nicholas Assie Limited Chartered CertifiedAccountants 22
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Note5 to the Financial Statements f¢onllnuodJ Year ended 31 March 2024 16. Debtor8 2024 2023 Trade debtors Other debtors 219,993 228,254 219.995 228,256 17. Credltors: amounts falllng due wlthln one year 2024 2023 Trade credltors Accruals and deferred Income Soclal securlty and other taxe8 Other cr8dltors 38,030 112,628 13,092 00,931 40,145 10,495 92,572 264,681 143,212 There Is no penslon Ilsblllty other than those dlsclosed In other creditors. 18. Pon8lons and other po8t-retlrement beneflts Deflned contrlbutlon plan8 The amount recognlsed In Income or expendlture as an expense In relatlon to defined contribution plans was £44,825 (2023: £36,119). 19. Analysls of charltable funds Unrestrlcted funds At 1 April 2023 At Income Expendlture 31 March 1024 General funds 212,874 3,153,860 13,038,329) 328,405 At 1 Aprll 2022 At Income Expendlture 31 March 2023 General funds 51,702 2,654,602 (2,493,430) 212,874 JackFon Nicholas Assie Limiled Chartered CertifiedAccountants 23
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 20. Analysls of net assets between funds Unrestrlcted Total Funds Funds 2024 Current assets Creditors les5 than 1 year Net assots 593,086 593,086 (264,681) (264,681) 328,405 328,405 Unrestricted Total Funds Funds 2023 Current assets Creditors less than 1 year Net assets 356,086 356,086 (143,212) (143,212) 212,874 212,874 21. Analysls ot changes In net debt At At 1 Apr 2023 Cash flows 31 Mar 2024 Cash at bank 2nd In hand 127,830 245,261 373,091 22. Operatlng lea80 commltment8 The tot81 future minimum lease payments under non-cancellable operatlng leases are as follows: 2024 2023 Not later than 1 year Later than 1 year and not later than 5 years 515,497 2,685,143 3,200,640 338,727 1,149,386 1,488,113 23. Post balance shget events The trustees h8ve considered the likelihood of any negative subsequent events and have concluded that the incidence of such events is likely to be minimal. The trustees also consldered the likelihood of other slgnificant post balance sheet events and concluded that there are none which irnpact the financial statements. 24. Rolated partles There were no related party transactions during the year (2023: Nil) with the exception of the reimbursement of expenses IncuThed by trustee (disclosed in note 14). Jackson Nicholas Assie Limited Chartered CertifiedAccountants 24-
Little Learners Nursery Group (formerly Nurseries of St. Mary's & St. Saviour's) Company Limited by Guarantee Notes to the Financial Statements (cohtinued) Year ended 31 March 2024 25. Golng concern The trustees have considered the clrcumstances and projections of the charity, and are satisfied, the going concern basis is appropriate for theses financial statements. The trustees are satisfied that to date, the threat to operatlons has been mlnimal and has not signlficantly reduced the effectiveness of the organisation. Jackson Nicholas Assie Limited Chartered CertifiedAccountants 25