2025-03-31-accounts

REGISTERED COMPANY NUMBER: 07972222 (England and Wales) REGISTERED CHARITY NUMBER: 1159674

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

BRIGHT FUTURES EARLY LEARNING

Ainsworths Limited Chartered Accountants and Statutory Auditors Charter House Stansfield Street Nelson Lancashire BB9 9XY

BRIGHT FUTURES EARLY LEARNING

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

		Page
Report of the Trustees	1	to	4
Report of the Independent Auditors	5	to	8
Statement of Financial Activities		9
Balance Sheet		10
Cash Flow Statement		11
Notes to the Cash Flow Statement		12
Notes to the Financial Statements	13	to	20

BRIGHT FUTURES EARLY LEARNING (REGISTERED NUMBER: 07972222)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Company is established for the public benefit within the area of Rossendale Lancashire with the following objectives: - to support the provision of education and the safe care of children under the statutory school age by maintaining and carrying on managing and developing the nursery.

• to advance the education and training in the care and education of children under the school age

We offer childcare places for Looked After Children to help provide stability and a routine for these children. We are part of an Early Years Team who offer support and training to other settings who may have had a bad inspection and require support to improve on these actions.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Throughout the year, we have continued to operate an outstanding, Ofsted registered nursery school. As a charitable company we ensure all surpluses are reinvested in the future of the children we care for.

Our aim is to ensure that we meet the needs and nurture the development of each individual child in our care, whilst play and learning should always be fun. Learning through play is recognised as being an excellent way of meeting the needs of individual children as they develop.

We have a highly qualified team of practitioners, who have a superb knowledge and understanding of the seven areas of learning and how children learn and develop.

FINANCIAL REVIEW

Financial position

The trustees are pleased to report that the income of the Charity for the year increased 25.1% from £1,616,588 to £2,022,494. The increase is attributed to the government's decision to fund 15 hours of free childcare from September 2024, but also due to the trustees' reluctant but decisive action to increase fees as the deficit suffered in the previous year was not sustainable.

Expenditure increased by 8.0% from £1,708,094 to £1,845,354, mainly due to increased wage costs as a result of increases in the minimum wage and the knock on effect this has on all staff remuneration.

As a consequence of the increase in income being greater than the corresponding increase in expenditure, the Charity has recorded net income this year of £177,140 (2024: £91,506 net expenditure).

The net income is used to reinvest in the nurseries and meet finance repayments arising from the opening of the charity's second site in Bacup. The resulting increase in cash reserves is £115,164, from £19,873 at the start of the year to £135,037 at the end of the year. The trustees are pleased with the increase enabling working capital to be far more easily managed in future.

As a result of the net income realised in the year, the total funds of the company have increased from £206,218 to £383,358. These funds are entirely invested in the fixed assets of the charitable company.

Page 1

BRIGHT FUTURES EARLY LEARNING (REGISTERED NUMBER: 07972222)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025

FINANCIAL REVIEW

Reserves policy

The trustees calculate free reserves as being the total funds of the charity excluding the net book value of fixed assets.

The free reserves of the charity at 31 March 2025 were £nil (2024: £nil) as all of the funds of the Charity are invested in fixed assets, predominantly the leasehold improvements at the Charity's second site in Bacup.

The Charities Commission recommends holding free reserves of between 3 and 6 months operating expenditure. The trustees aim for this level of reserves and are committed to restoring free reserves in the charity as soon as possible through future surpluses.

FUTURE PLANS

No changes in the charity's operations are anticipated for the foreseeable future.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, its memorandum and articles of 1 March 2012, as amended on 20 May 2012 and 4 June 2013, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity was incorporated on 1 March 2012 (registration number 07972222).

The charity registered with the Charities Commission on 17 December 2014 (registration number 1159674).

Recruitment and appointment of new trustees

New trustees are appointed by existing board members on the basis of the professional and/or personal skills which they are able to offer towards the work of the charity.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07972222 (England and Wales)

Registered Charity number

1159674

Registered office

Calder Road Rawtenstall Rossendale Lancashire BB4 8HW

Trustees

S V Charlesworth G L Nuttall A Hawksworth (resigned 12.10.2025) P A Cavaney A Hannah-Briggs Director (appointed 5.9.2024) A L Godolphin-Teague Director (appointed 5.9.2024) (resigned 15.5.2025)

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BRIGHT FUTURES EARLY LEARNING (REGISTERED NUMBER: 07972222)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Ainsworths Limited Chartered Accountants and Statutory Auditors Charter House Stansfield Street Nelson Lancashire BB9 9XY

Nursery Manager

Ms A L Carr

Bankers

Lloyds Bank Church Street Blackburn Lancashire BB2 1JQ

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Bright Futures Early Learning for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial 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 prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

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BRIGHT FUTURES EARLY LEARNING (REGISTERED NUMBER: 07972222)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025

AUDITORS

The auditors, Ainsworths Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 29th January 2026 and signed on its behalf by:

Alistair Hannah-Briggs (Jan 29, 2026 17:55:07 GMT)

A Hannah-Briggs - Trustee

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIGHT FUTURES EARLY LEARNING

Opinion

We have audited the financial statements of Bright Futures Early Learning (the 'charitable company') for the year ended 31st March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31st March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' 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 material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees, which includes the Directors' Report and Strategic Report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the Strategic Report and the Directors' Report included within the Report of the Trustees has been prepared in accordance with applicable legal requirements.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIGHT FUTURES EARLY LEARNING

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees; or

• material misstatement in the Strategic Report or Directors' Report included within the Report of the Trustees.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIGHT FUTURES EARLY LEARNING

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors 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) will 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 influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the Company and the nature of the sector in which it operates, we have identified that the principal risks of non-compliance with laws and regulations related to, but were not limited to, the Companies Act 2006, the Charities Act and Employment Law.

We have evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to inappropriate use of the going concern basis and management bias in accounting estimates and judgements. Our audit procedures designed to address these risks included, but were not limited to:

• Enquires with management, regarding any known or suspected instances of non-compliance with laws and regulations, and fraud;

• Agreement of the financial statement disclosures to the underlying supporting documentation;

• Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk of material misstatement due to fraud;

• Auditing the risk of management override of controls;

• Challenging assumptions and judgements made by management in their significant accounting estimates;

• Reviewing board minutes and other evidence gathered;

• Obtaining an understanding of internal controls relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal controls.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve concealment by misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIGHT FUTURES EARLY LEARNING

Use of our report

This report is made solely to the charitable company'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 charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Heys

Michael Heys (Jan 30, 2026 16:09:56 GMT)

Michael Heys (Senior Statutory Auditor) for and on behalf of Ainsworths Limited Chartered Accountants and Statutory Auditors Charter House Stansfield Street Nelson Lancashire BB9 9XY

29th January 2026

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BRIGHT FUTURES EARLY LEARNING

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 6 Operation of a children's nursery Other trading activities 4 Investment income 5 Other income Total EXPENDITURE ON Charitable activities 7 Operation of a children's nursery NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	31.3.25 Unrestricted fund £ 850 2,012,240 1,961 26 7,417 2,022,494 1,845,354 177,140 206,218 383,358	31.3.24 Total funds £ 1,350 1,613,284 938 16 1,000 1,616,588 1,708,094 (91,506) 297,724 206,218

The notes form part of these financial statements

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BRIGHT FUTURES EARLY LEARNING (REGISTERED NUMBER: 07972222)

BALANCE SHEET 31ST MARCH 2025

Notes FIXED ASSETS Tangible assets 12 CURRENT ASSETS Debtors 13 Cash at bank and in hand CREDITORS Amounts falling due within one year 14 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 15 NET ASSETS FUNDS 18 Unrestricted funds TOTAL FUNDS	31.3.25 Unrestricted fund £ 625,432 23,491 135,037 158,528 (101,057) 57,471 682,903 (299,545) 383,358 383,358 383,358	31.3.24 Total funds £ 637,837 31,584 19,873 51,457 (107,341) (55,884) 581,953 (375,735) 206,218 206,218 206,218

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29th January 2026 and were signed on its behalf by:

Alistair Hannah-Briggs (Jan 29, 2026 17:55:07 GMT)

A Hannah-Briggs - Trustee

Pagan Cavaney Pagan Cavaney (Jan 30, 2026 15:40:39 GMT)

P A Cavaney - Trustee

The notes form part of these financial statements

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BRIGHT FUTURES EARLY LEARNING

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2025

Notes Cash flows from operating activities Cash generated from operations 1 Interest paid Net cash provided by/(used in) operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities Loan repayments in year Net cash used in financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	31.3.25 £ 197,902 (18,595) 179,307 (24,177) 26 (24,151) (39,992) (39,992) 115,164 19,873 135,037	31.3.24 £ (28,529) (24,247) (52,776) (28,561) 16 (28,545) (36,461) (36,461) (117,782) 137,655 19,873

The notes form part of these financial statements

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Loss on disposal of fixed assets Interest received Interest paid Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by/(used in) operations	31.3.25 £ 177,140 36,582 - (26) 18,595 8,093 (42,482) 197,902	31.3.24 £ (91,506) 38,925 324 (16) 24,247 (1,185) 682 (28,529)

2.

ANALYSIS OF CHANGES IN NET DEBT

	At 1.4.24	Cash flow	At 31.3.25
	£	£	£
Net cash
Cash at bank and in hand	19,873	115,164	135,037
	19,873	115,164	135,037
Debt
Debts falling due within 1 year	(38,049)	(5,348)	(43,397)
Debts falling due after 1 year	(307,279)	45,340	(261,939)
	(345,328)	39,992	(305,336)
Total	(325,455)	155,156	(170,299)

The notes form part of these financial statements

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

1. STATUTORY INFORMATION

Bright Futures Nursery School Limited is a charitable company, limited by guarantee, registered in England and Wales. The charity and company registered numbers and the registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Bright Futures Nursery School Limited meets the definition of a public benefit entity under FRS 102.

Significant judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgement has had the most significant effect on amounts recognised in the financial statements.

Fixed assets

Fixed assets are included in the financial statements in accordance with the accounting policy given. The depreciation policies are determined by the estimated useful life of the relevant assets which requires the trustees to make a judgement. The improvements to leasehold property are written off over the term of the lease, and the fixtures and fittings are considered to have an estimated useful life of 5 years and are accordingly depreciated over this period. Should any such fixtures be sold or otherwise disposed of, whether before or after their useful estimated life, a resulting surplus or deficit may arise which will be recorded in the Statement of Financial Activities at the point of sale.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

In respect of government funded childcare where termly remittances are received, the income is recognised in the period to which the funding relates, and any income received in advance is deferred to the following accounting period and recognised as a deferred income liability in the Balance Sheet. The same policy is applied to fees received in advance which relate to a subsequent accounting period.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Support costs are not separately disclosed as the charity only has one activity and all costs are therefore attributable to that one activity.

continued...

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

2. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - Over the period of the lease Fixtures and fittings - 20% on cost

Assets under construction are not depreciated until they are brought into use.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3.

DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
	31.3.25	31.3.24
	£	£
Grants	850	1,350
Grants received, included in the above, are as follows:
	31.3.25	31.3.24
	£	£
Charities Aid Foundation	850	1,350

continued...

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

4. OTHER TRADING ACTIVITIES Fundraising events 5. INVESTMENT INCOME Deposit account interest 6. INCOME FROM CHARITABLE ACTIVITIES Activity Fees paid Operation of a children's nursery Voucher fees Operation of a children's nursery 7. CHARITABLE ACTIVITIES COSTS Operation of a children's nursery 8. NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Hire of plant and machinery Deficit on disposal of fixed assets Auditors Remuneration: Audit services Auditors Remuneration: Non-audit services	31.3.25 £ 1,961 31.3.25 £ 26 31.3.25 £ 941,262 1,070,978 2,012,240 31.3.25 £ 36,582 18,296 - 4,920 5,364	31.3.24 £ 938 31.3.24 £ 16 31.3.24 £ 1,032,536 580,748
		1,613,284
		Direct Costs £ 1,845,354
		31.3.24 £ 38,925 17,787 324 4,700 5,180

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continued...

BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

9. TRUSTEES' REMUNERATION AND BENEFITS

No trustees were remunerated for services provided in their capacity as trustee for the year ended 31st March 2025 nor for the year ended 31st March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2025 nor for the year ended 31st March 2024.

10. STAFF COSTS

Wages and salaries Social security costs Other pension costs The average monthly number of employees during the year was as follows: Trustee directors Management and administration Nursery staff	31.3.25 £ 1,195,266 72,889 72,012 1,340,167 31.3.25 5 1 60 66	31.3.24 £ 1,021,545 53,910 61,634
		1,137,089
		31.3.24 5 2 56 63

No employees received emoluments in excess of £60,000.

Total employee benefits paid to the charity's key management personnel for the year ended 31st March 2025 was £57,921 (2024: £64,586).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Operation of a children's nursery Other trading activities Investment income Other income Total	Unrestricted fund £ 1,350 1,613,284 938 16 1,000
	1,616,588

EXPENDITURE ON

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Charitable activities Operation of a children's nursery NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 12. TANGIBLE FIXED ASSETS Improvements to property £ COST At 1st April 2024 658,962 Additions 14,930 At 31st March 2025 673,892 DEPRECIATION At 1st April 2024 66,711 Charge for year 17,496 At 31st March 2025 84,207 NET BOOK VALUE At 31st March 2025 589,685 At 31st March 2024 592,251	Fixtures and fittings £ 125,147 9,247 134,394 79,561 19,086 98,647 35,747 45,586	Unrestricted fund £ 1,708,094 (91,506) 297,724 206,218 Totals £ 784,109 24,177 808,286 146,272 36,582 182,854 625,432 637,837

continued...

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Bank loans and overdrafts (see note 16) Other loans (see note 16) Trade creditors Social security and other taxes Accruals and deferred income Deferred government grants 15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR Bank loans (see note 16) Other loans (see note 16) Trade creditors Deferred government grants 16. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Other loans Amounts falling between one and two years: Bank loans Other loans	31.3.25 £ 991 22,500 23,491 31.3.25 £ 5,294 38,103 30,000 16,431 10,379 850 101,057 31.3.25 £ 22,059 239,880 7,500 30,106 299,545 31.3.25 £ 5,294 38,103 43,397 5,294 41,655 46,949	31.3.24 £ 9,084 22,500 31,584 31.3.24 £ 5,294 32,755 30,000 19,635 18,807 850
		107,341
		31.3.24 £ 27,353 279,926 37,500 30,956
		375,735
		31.3.24 £ 5,294 32,755
		38,049
		5,294 33,094
		38,388

continued...

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

16. LOANS - continued

Amounts falling due between two and five years: Bank loans Other loans Amounts falling due in more than five years: Repayable by instalments: Bank loans Other loans 17. SECURED DEBTS The following secured debts are included within creditors: Other loans	31.3.25 £ 15,882 109,797 125,679 883 88,428 89,311 31.3.25 £ 277,983	31.3.24 £ 15,882 99,565
		115,447
		6,177 147,267 153,444
		31.3.24 £ 312,681

The other loan is secured by way of fixed and floating charges over the assets of the charitable company.

18. MOVEMENT IN FUNDS

Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS	At 1.4.24 £ 206,218 206,218 Incoming resources £ 2,022,494 2,022,494	Net movement in funds £ 177,140 177,140 Resources expended £ (1,845,354 ) (1,845,354 )	At 31.3.25 £ 383,358 383,358 Movement in funds £ 177,140	At 31.3.25 £ 383,358
				383,358
			177,140

continued...

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BRIGHT FUTURES EARLY LEARNING

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

At 1.4.23 £ Unrestricted funds General fund 297,724 TOTAL FUNDS 297,724 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 1,616,588 TOTAL FUNDS 1,616,588	Net movement in funds £ (91,506) (91,506) Resources expended £ (1,708,094 ) (1,708,094 )	At 31.3.24 £ 206,218 206,218 Movement in funds £ (91,506) (91,506)

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st March 2025.

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