Charity number: 1163764 ## MAJOR STEPS CHILDCARE Report of the Trustees and Financial Statements For the year ended 31 August 2024 MAJOR STEPS CHILDCARE Contents Page For the year ended 31 August 2024 |Report of the Trustees|1 to 2| |---|---| |Independent Examiner's Report to the Trustees|3| |Statement of Financial Activities|4| |Statement of Financial Position|5| |Notes to the Financial Statements|6 to 10| |Detailed Statement of Financial Activities|11 to 12| MAJOR STEPS CHILDCARE Report of the Trustees For the year ended 31 August 2024 The Trustees have pleasure in presenting their report and the financial statements for the charity for the year ended 31 August 2024. 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 the Republic of Ireland (FRS 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** **Name of Charity** MAJOR STEPS CHILDCARE **Charity registration number** 1163764 **Principal address** Tropicana House Newquay Road Newquay Road Cornwall TR9 6TJ ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Mrs Sarah Ryan ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Miss Emma Rooney Miss Daisy Budge Mr Mike Higgins **Independent examiners** David Jeffery & Co The Old Surgery St Columb Cornwall TR96AE **Bankers** Barclays Bank 10 Church Street St Austell Cornwall PL25 4AS 1 of 12 MAJOR STEPS CHILDCARE Report of the Trustees Continued For the year ended 31 August 2024 Approved by the Board of Trustees and signed on its behalf by ............................................................................. Miss Emma Rooney 22 May 2025 2 of 12 MAJOR STEPS CHILDCARE Independent Examiners Report to the Trustees For the year ended 31 August 2024 I report to the trustees on my examination of the accounts of the charity for the year ended 31 August 2024. ## **Responsibilities and basis of report** As the charity trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act'). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act 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 examiners statement** Since the Charity's gross income exceeded £250,000, your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination by virtue of my membership of , which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination. 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. David Jeffery & Co The Old Surgery St Columb Cornwall TR96AE 22 May 2025 3 of 12 ## MAJOR STEPS CHILDCARE Statement of Financial Activities For the year ended 31 August 2024 |**Notes**
**Income and endowments from:**
Donations and legacies
2
Charitable activities
3
**Total**
**Expenditure on:**
Charitable activities
4/5
**Total**
**Net income**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
-
354,586
**354,586**
(345,643)
**(345,643)**
**8,943**
471,710
**480,653**|**2023**
**£**
44
347,701| |---|---|---| |||**347,745**| |||(334,739)| |||**(334,739)**| |||**13,006**
458,704| |||**471,710**| 4 of 12 ## MAJOR STEPS CHILDCARE Statement of Financial Position As at 31 August 2024 ||**Notes**|**2024**|**2023**| |---|---|---|---| |||**£**|**£**| |**Fixed assets**|||| |Tangible assets|10|471,028|468,465| |||**471,028**|**468,465**| |**Current assets**|||| |Debtors|11|3,436|2,131| |Cash at bank and in hand||37,870|32,944| |||**41,306**|**35,075**| |**Creditors: amounts falling due within one year**|12|(9,605)|(7,565)| |**Net current assets**||**31,701**|**27,510**| |**Total assets less current liabilities**||**502,729**|**495,975**| |**Creditors: amounts falling due after more than one year**|13|(22,076)|(24,265)| |**Net assets**||**480,653**|**471,710**| |**The funds of the charity**|||| |Unrestricted income funds|14|480,653|471,710| |**Total funds**||**480,653**|**471,710**| The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Miss Emma Rooney Trustee 22 May 2025 5 of 12 MAJOR STEPS CHILDCARE Notes to the Financial Statements For the year ended 31 August 2024 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and 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 (FRS 102), and the Charities Act 2011. MAJOR STEPS CHILDCARE meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **Tangible fixed assets** Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |Plant and machinery|20% Reducing balance| |---|---| |Computer equipment|25% Reducing balance| |Fixtures and fittings|20% Reducing balance| ## **2. Income from donations and legacies** ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Donations received|-|44| ||**-**|**44**| |**ncome from charitable activities**||| ||**2024**|**2023**| ||**£**|**£**| |**Unrestricted funds**||| |_Day Nursery_||| |Income from charitable|354,586|347,701| |activities||| |**osts of charitable activities by fund type**||| ||**2024**|**2023**| ||**£**|**£**| |**Unrestricted funds**||| |Day Nursery|284,575|286,536| |Support costs|61,068|48,203| ||**345,643**|**334,739**| ## **3. Income from charitable activities** ## **4. Costs of charitable activities by fund type** 6 of 12 MAJOR STEPS CHILDCARE Notes to the Financial Statements Continued For the year ended 31 August 2024 ## **5. Costs of charitable activities by activity type** ||**Activities**|**Support**|**2024**|**2023**| |---|---|---|---|---| ||**undertaken**|**costs**||| ||**directly**|||| ||**£**|**£**|**£**|**£**| |**Support costs**||||| |Day Nursery|284,575|61,068|345,643|334,739| |**nalysis of support costs**||||| ||||**2024**|**2023**| ||||**£**|**£**| |**Day Nursery**||||| |Rent|||-|1,555| |Equipment Hire|||1,656|-| |Rates & Water|||13,821|8,487| |Repair & Renewals|||14,895|13,647| |Training|||673|2,046| |Telephone|||1,768|1,723| |Postage & Stationery|||668|763| |Cleaning & Waste|||3,516|2,813| |Disposal||||| |Sundries &|||4,087|5,403| |Subscriptions||||| |Governance costs|||19,984|11,766| ||||**61,068**|**48,203**| ## **6. Analysis of support costs** ## **7. Net income/(expenditure) for the year** This is stated after charging/(crediting): Depreciation of owned fixed assets Accountancy fees |**2024**|**2023**| |---|---| |**£**|**£**| |637|824| |2,340|2,220| 7 of 12 ## MAJOR STEPS CHILDCARE Notes to the Financial Statements Continued For the year ended 31 August 2024 ## **8. Staff costs** Total staff costs for the year ended 31 August 2024 were: |Total staff costs for the year ended 31 August 2024 were:||| |---|---|---| ||**2024**|**2023**| ||**£**|**£**| |Salaries and wages|271,180|276,779| ||**271,180**|**276,779**| ||**2024**|**2023**| |Nursery Staff|16|18| ||**16**|**18**| ## **9. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activites are for unrestricted funds. ## **10. Tangible fixed assets** |**Cost or valuation**
At 01 September 2023
Additions
At 31 August 2024
**Depreciation**
At 01 September 2023
Charge for year
At 31 August 2024
**Net book values**
At 31 August 2024
At 31 August 2023|**Land and**
**buildings**
**£**
465,615
3,200
**468,815**
-
-
**-**
**468,815**
**465,615**|**Plant and**
**machinery**
**£**
2,671
-
**2,671**
1,800
174
**1,974**
**697**
**871**|**Fixtures and**
**fittings**
**£**
3,178
-
**3,178**
2,537
128
**2,665**
**513**
**641**|**Computer**
**equipment**
**£**
4,354
-
**4,354**
3,016
335
**3,351**
**1,003**
**1,338**|**Total**
**£**
475,818
3,200| |---|---|---|---|---|---| ||||||**479,018**| ||||||7,353
637| ||||||**7,990**| ||||||**471,028**| ||||||**468,465**| ## **11. Debtors** |**Amounts due within one year:**
Prepayments and accrued income|**2024**
**2023**
**£**
**£**
3,436
2,131
**3,436**
**2,131**| |---|---| 8 of 12 MAJOR STEPS CHILDCARE Notes to the Financial Statements Continued For the year ended 31 August 2024 ## **12. Creditors: amounts falling due within one year** |Trade creditors
Other creditors
Accruals and deferred income|**2024**
**£**
3,191
5,094
1,320
**9,605**|**2023**
**£**
1,155
5,210
1,200| |---|---|---| |||**7,565**| ## **13. Creditors: amounts falling due after more than one year** |Loans and overdrafts|**2024**
**£**
22,076
**22,076**|**2023**
**£**
24,265| |---|---|---| |||**24,265**| |The following liabilities disclosed under creditors falling due after more than one year are secured by the charity:
Bank loans and overdrafts
22,076
**22,076**|24,265| |---|---| ||**24,265**| ## **14. Movement in funds** ## **Unrestricted Funds** |**Unrestricted Funds**||||| |---|---|---|---|---| |_General_
Day Nursery
**Unrestricted Funds - Previous year**
_General_
Day Nursery|**Balance at**
**01/09/2023**
**£**
471,710
**471,710**
**Balance at**
**01/09/2022**
**£**
458,704
**458,704**|**Incoming**
**resources**
**£**
354,586
**354,586**
**Incoming**
**resources**
**£**
347,745
**347,745**|**Outgoing**
**resources**
**£**
(345,643)
**(345,643)**
**Outgoing**
**resources**
**£**
(334,739)
**(334,739)**|**Balance at**
**31/08/2024**
**£**
480,653| |||||**480,653**| |||||**Balance at**
**31/08/2023**
**£**
471,710| |||||**471,710**| 9 of 12 MAJOR STEPS CHILDCARE Notes to the Financial Statements Continued For the year ended 31 August 2024 ## **Purpose of unrestricted Funds** Day Nursery Running of Day Nursery **Purpose of restricted funds** Building Funds Building of own premises ## **15. Analysis of net assets between funds** ||**Tangible**|**Net current**|**Creditors >**|**Net Assets**| |---|---|---|---|---| ||**fixed assets**|**assets /**|**one year**|| |||**(liabilities)**||| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |_General_||||| |Day Nursery|471,028|31,701|(22,076)|480,653| ||**471,028**|**31,701**|**(22,076)**|**480,653**| |**Previous year**||||| ||**Tangible**|**Net current**|**Creditors >**|**Net Assets**| ||**fixed assets**|**assets /**|**one year**|| |||**(liabilities)**||| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |_General_||||| |Day Nursery|468,465|27,510|(24,265)|471,710| ||**468,465**|**27,510**|**(24,265)**|**471,710**| 10 of 12 MAJOR STEPS CHILDCARE Detailed Statement of Financial Activities For the year ended 31 August 2024 |**INCOME AND ENDOWMENT**
**Donations and legacies**
Donations
**Charitable activities**
Income from charitable activities
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Cost of direct charitable activity
**SUPPORT COSTS**
**Rent**
Rent
**Equipment Hire**
Equipment Hire
**Rates & Water**
Rates & Water
**Repair & Renewals**
Repair & Renewals
**Training**
Training
**Telephone**
Telephone
**Postage & Stationery**
Postage & Stationery
**Cleaning & Waste Disposal**
Cleaning & Waste Disposal
**Sundries & Subscriptions**
Sundries & Subscriptions|**£**
**2024**
-
**-**
354,586
**354,586**
**354,586**
(284,575)
**(284,575)**
-
**-**
(1,656)
**(1,656)**
(13,821)
**(13,821)**
(14,895)
**(14,895)**
(673)
**(673)**
(1,768)
**(1,768)**
(668)
**(668)**
(3,516)
**(3,516)**
(4,087)
**(4,087)**|**£**
**2023**
44| |---|---|---| |||**44**
347,701| |||**347,701**| |||**347,745**
(286,536)| |||**(286,536)**
(1,555)| |||**(1,555)**
-| |||**-**
(8,487)| |||**(8,487)**
(13,647)| |||**(13,647)**
(2,046)| |||**(2,046)**
(1,723)| |||**(1,723)**
(763)| |||**(763)**
(2,813)| |||**(2,813)**
(5,403)| |||**(5,403)**| 11 of 12 This page does not form part of the statutory financial statements ## MAJOR STEPS CHILDCARE ## Detailed Statement of Financial Activities Continued For the year ended 31 August 2024 |**Governance costs**||| |---|---|---| |Governance costs|(19,984)|(11,766)| ||**(19,984)**|**(11,766)**| |**Total resources expended**|**(345,643)**|**(334,739)**| |**Net Income**|**8,943**|**13,006**| 12 of 12 This page does not form part of the statutory financial statements