NASSINGTON PRE-SCHOOL CIO Registered Charity no. 1172148 ANNUAL REPORT AND STATEMENT OF ACCOUNTS YEAR ENDED 31 AUGUST 2025 NASSINGTON pRE￿CHOOL CIO CONTENTS Pages Trustees, report statement of financial activities Balance sheet Notes to the financial 5talements 5-11 Independent Examiner's Report 12 NASSINGTON PRE-SCHOOL CIO REPORT OF THE TRUSTEES YEAR ENDED 31 AUGUST 2025 The Trustees present their report and accounts for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo 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 The charity's objects are the development and education of children and young people in particular by.. 1. Promoling their care and safety., 2. Promoting their education and promoting parental involvement: 3. Promoting their he31th and wellbeing., 4. Providing services to support them and their families and carers., 5. Providing seNices to individuals holding membership of the CIO, 6. Furthering the aims of the pre-schcx)l alliarsce. The Irustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Our fundraising continues to be challenging, however through iniliatives such as Give as You Live, a sponsored ex pupil bike ride, easter fayre and other events support the setting in a positive way. We will, through our Trustees, families, staff and the local community, continue to build on this. This is a significant achievement for us, as we've emerged from the specific pressures of the last few years: il helps consolidate our valued position in the local community. But the pressures on the Eaily Years sector continues. As with previous years, the cost-of-living issues and restricted funding remain. This year has bou9hl further challenges as funded ￿0-year old places have taken effect. As Trustees we are hopeful that our Continued fundraising efforts and community presence will help mitig3te this going forward although we do not underestimate the nature of the ChaI￿nge and vulnerability we face as an Early Years setting. Financial pressures remain. We continue to review our fees, following several years of no increase. As a Trustee group our intention is to review fees annually and continue to communicate with parenlslcarers on our ralionale and financial situation. Al the same lime. we are committed to valuing our staff and ensuring they are remunerated as fairfy as we can, within our wider financial siluation. This is always a fine balancing act. As previously stated via previous Trustees, we have, in Nassington Pre-school an amazing facility of which we are rightly proud. We want to continue to develop and enslire what we do enables children lo learn and grow in the best possible environment. NASSINGTON PRE-SCHOOL CIO REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 AUGUST 2025 Financial review The Statement of Financial Activities reported net expenditure of £1,996 (2024= Income of 3,755). The resetves of the charity as at 31 August 2025 were £226,911 of which £76,911 were unrestricted funds. The Irustees have assessed the major risks to which the charity 15 exposed, and are satisfied that systems are inplace lo mitigate exposure to the major risks. Structure, governance and management The charity is a charitable incorporated organisation registered with the Charity Commission on 20 March 2017. The truslees who served during the year and up to the date of signature of the financial statements were.. J Mccoy A Jones S Lange E Davidson D Vvells C Wells L John New Irustees are appointed as required and receive a comprehensive induction on the activities of the charity The trustees, report was approved by the Board of TfLlStees. S Lange Trustee Date.. 3.11.Ic NASSINGTON PRE-SCHOOL CIO STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Restricted funds 2025 Total 2025 Total 2024 Note Income from: Charitable activites Investments Total income and endowments 121,192 511 121,703 121,192 511 121,703 100,428 536 100,964 Ex enditure on: Charitable activites 123.699 123,699 97,209 Net incomellexpendilure) for the yearl Net movement in funds 1,996 1,996 3.755 Net In¢omlngl{outgoingl resources before transfeTS (1,9961 (1,996) 3,755 Fund balances at 1 Seplember 78,907 150,000 228,907 225,152 Fund balances at 31 August 76,911 150,000 226,911 228,907 NASSINGTON PRE-SCHOOL CIO BALANCE SHEET YEAR ENDED 31 AUGUST 2025 Notes 2025 2024 Flxed assets Tangible assets 10 171.675 173,098 171.675 173,098 Current assets Debtors Cash at bank 11 231 59,050 1,072 55,396 59,281 56,468 CreditOTS: Amounts falling due within one year 12 4,045 659 Net current assets 55,236 55,809 Total assets less Current liabilites 226,911 228,907 Capital funds Income funds Unrestricted funds 76,911 78,907 Restricted funds 13 150.000 150,000 Total Funds 226,911 228,907 The linancial statements on pages 5 to 11 were approved by the Trustees and signed on their behalf by.. S Lange Date. S il. aai¥. The accompanying notes form part of these financial statements. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 AUGUST 2025 1, ACCOUNTING POLICIES Charity information Nassinglon Pre-school CIO is a Charilable Incorporated Organisalion registered on 20 March 2017, The charity reglstration number is 1172148. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning document]. the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {'FRS 102") and the Charities SORP '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). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows, The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. q.2 Going concern At the time of approving the financial statements, Ihe trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial staternents. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been mèt, the amounts can be measured reliably, anrj it is probable thal income will be received. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES (CONTINUED) 1.5 Expenditure Expenditure is accounted for on an accruals basis. 1.6 Tangible Fixed Assets Tangible f ixed assets are initially measured at cost and subsequently measured at ccst or valuation, nel of depreciation and any impainnent losses. Depreciation is recognised so as to wrile off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings Computers 1 /1> per annum of buildings Cost 3 or 4 year slraight line 25 /0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognisecl in the statement of financial activities. At each reporting end date, the charity reviews the carrying amounts of ils tangible assels to determine whether there is any indication that Ihose assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments wilh original maturities of three months or less, ancl bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial tnstruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charily becomes party to the conlractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an inlention lo settle on a net basis or to realise the asset and settle the li3bilily simultaneousty, NASSINGTON pRE￿CHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 1. PRINCIPAL ACCOUNTING POLICIES ICONTINUED) 1.8 Financial instrurnents l¢ontinued) Basi¢ flnancial assets Basic financial assets, which include deblors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement ccnslitutes a financing transaclion, where the transaction is measured at the present vallte of the future receipts discounted at a market rate cf interest. Financial assets classified as receivable within one year are not amctrtised. BasF¢ financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are 5ubseouenlly carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities_ Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest melhod. Derecognition of financtal Ilabilities Financial liabilities are derecognised when the charitys contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The ¢ost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are re¢ognised immediately as an expense when the charity is demonstrably committed to terminale the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution relirement benefit schemes are charged as an expense as they fall due. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the Charity's accounting policies, the Trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readi apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and unclerlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and f uture periods where the revision affects both current and future periods. 3. INCOME FROM CHARITABLE ACTIVIES 2025 2024 Nursery Fees Nursery Grants 27,954 93,238 121,192 33 927 66,501 100,428 4. INVESTMENT INCOME 2025 2024 Interest receivable 511 536 5. EXPENDITURE ON CHARITABLE ACTIVITIES 2025 2024 Staff Costs Depreciation and impairment Preschool consumables Staff training Subscriptions Repairs and maintenance Advertising 107,920 1,423 2,598 228 1,162 1,057 24 114,412 80,943 1,453 2,145 454 733 2,055 87,794 Share of support costs (see note 6) Share of governance costs (see note 61 7,770 1.517 9,287 7,618 1,797 9,415 NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 SUPPORT COSTS Support Governance osts costs Total 2025 Total 2024 Insurance Admin expenses Light and heat Phone and internet Cleaning Computer running costs Legal and professional 973 385 2.551 1.149 882 1,830 973 385 2,551 1,149 882 1,830 1,517 9,287 1,680 133 2,105 1,743 667 1,290 1,797 9,415 1,517 1,517 7,770 Governance costs includes payments to the independent examiners of £850 {2024'. £780) for independent examination fees. 7. TRUSTEES During the year, L John, a trustee of the charity, received a remuneralion of £41,274 {2024 - £38,289> for her role as the pre-school manager and employer pension contributions of £1,051 {2024 - £9621 for her role as the pre-school manager. During the year. L John, a trustee of the charity received reimbursement for travel and other expenses lotalling £8412024 - £33). This was in the course of carrying out her employed role at the nursery. During the year, D Wells, a Irustee of the charity received reimbursement for travel and other expenses totalling £43 (2024 £50). This was in the course of carrying out a fundraising event for the nursery. 8. EMPLOYEES The average number of employees during the year was.. 2025 2024 Employment costs 2025 2024 Wages and salaries Olher pension costs 105,732 2,188 107,920 79,186 1,757 80,943 NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 9. TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10. TANGIBLE FIXED ASSETS Freehold Land Fixtures and and Buildings Fittings Computers Total Cost At 1 September 2024 178,092 4,677 1,084 183,853 At 31 August 2025 178,092 4,677 1,084 183,853 Depreciation and impairment Al 1 Seplember 2024 5,344 4,S77 734 10,755 Depreciation charge 1,336 87 1,423 At 31 August 2025 6,680 4,677 821 12,178 Carrying amount At 1 September 2024 172,748 350 173,098 At 31 August 2025 171,412 263 171,675 11. DEBTORS 2025 2024 Prepayments and accrued income 231 1,072 12. CREDITORS 2025 2024 Trade creditors Accruals and deferred incorne Other taxation and social security 667 950 958) 659 1,030 3,015 4,045 10 NASSINGTON pRE￿CHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 13. Restricted Funds Balance at 1 September 2023 Balance at Incoming 1 September resources 2024 Balance at 31 August 2025 Incoming resources Propety purchase fund 150,000 150,000 150,000 150.000 150,000 150,OOD The property purchase fund represents £150,000 received in order to facilitale the purchase of the pre-school premises. 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted Unrestricted funds funds 2025 2025 Total funds 2025 Fund balances at 31 August 2025 are represented by.. Tangible assets Current assetsllliabilities} 21.675 54,654 150,000 171,675 54,654 76,329 150,000 226.329 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted Unrestricted funds funds 2025 2025 Total funds 2025 Fund balances al 31 August 2025 are represented by Tangible assets Current asselsl{liabilities) 23,098 55,E09 150,000 173,098 55,809 78,907 150,000 228.907 16. RELATED PARTY TRANSACTION During the academic year, children of four of the truslees of the charity attended the pre-school. Fees were charged to the trustees at nonnal rates. 11 NASSINGTON PRE-SCHOOL CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 AUGUST 2025 I report to the trustees on my examination of Ihe financial statements of Nassirsgton Pre-school CIO (the charity) for the year ended 31 August 2025. Responsibilities and basis of report As the Truslees of the Charity you are responsible for the preparation of the financial statements in ac¢ordan¢e wilh the reqsjirements of the Charities Act 2011 (the 2011 Act}. I report in respect of my examinalion of Ihe Charitls financial statement5 Carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the facl that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charitieg.. Statement of Recommended Practice iSSLJed on 1 April 2005 which is referred to in the extanl regulations but has now been withdrawn l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Genera15y Accepted Accounting Practice effective for reporting periods beginning on or afler 1 January 2015. I have completed my examination. I confirm Ihal no matters have come to my attention in connection wilh the examination giving me cause to believe that In any material respect. 1. Accounting records were not kept in respe¢t of the charity as required by section 130 of the Act, or 2. the accounts do not accord with those records., or 3. the financial statements do not comply wrth the applicable requirements concerning the fom and conlent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement th81 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 olher matters in conneclion with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reache K Hilliard ACA FCCA CTA Chartered Accountant For and on behalf of Price Bailey LLP 36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR Date: I I rkJO@t￿er 7X 12 NASSINGTON PRE-SCHOOL CIO Registered Charity no. 1172148 ANNUAL REPORT AND STATEMENT OF ACCOUNTS YEAR ENDED 31 AUGUST 2025 NASSINGTON pRE￿CHOOL CIO CONTENTS Pages Trustees, report statement of financial activities Balance sheet Notes to the financial 5talements 5-11 Independent Examiner's Report 12 NASSINGTON PRE-SCHOOL CIO REPORT OF THE TRUSTEES YEAR ENDED 31 AUGUST 2025 The Trustees present their report and accounts for the year ended 31 August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document. the Charities Act 2011 and "Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo 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 The charity's objects are the development and education of children and young people in particular by.. 1. Promoling their care and safety., 2. Promoting their education and promoting parental involvement: 3. Promoting their he31th and wellbeing., 4. Providing services to support them and their families and carers., 5. Providing seNices to individuals holding membership of the CIO, 6. Furthering the aims of the pre-schcx)l alliarsce. The Irustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance Our fundraising continues to be challenging, however through iniliatives such as Give as You Live, a sponsored ex pupil bike ride, easter fayre and other events support the setting in a positive way. We will, through our Trustees, families, staff and the local community, continue to build on this. This is a significant achievement for us, as we've emerged from the specific pressures of the last few years: il helps consolidate our valued position in the local community. But the pressures on the Eaily Years sector continues. As with previous years, the cost-of-living issues and restricted funding remain. This year has bou9hl further challenges as funded ￿0-year old places have taken effect. As Trustees we are hopeful that our Continued fundraising efforts and community presence will help mitig3te this going forward although we do not underestimate the nature of the ChaI￿nge and vulnerability we face as an Early Years setting. Financial pressures remain. We continue to review our fees, following several years of no increase. As a Trustee group our intention is to review fees annually and continue to communicate with parenlslcarers on our ralionale and financial situation. Al the same lime. we are committed to valuing our staff and ensuring they are remunerated as fairfy as we can, within our wider financial siluation. This is always a fine balancing act. As previously stated via previous Trustees, we have, in Nassington Pre-school an amazing facility of which we are rightly proud. We want to continue to develop and enslire what we do enables children lo learn and grow in the best possible environment. NASSINGTON PRE-SCHOOL CIO REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 AUGUST 2025 Financial review The Statement of Financial Activities reported net expenditure of £1,996 (2024= Income of 3,755). The resetves of the charity as at 31 August 2025 were £226,911 of which £76,911 were unrestricted funds. The Irustees have assessed the major risks to which the charity 15 exposed, and are satisfied that systems are inplace lo mitigate exposure to the major risks. Structure, governance and management The charity is a charitable incorporated organisation registered with the Charity Commission on 20 March 2017. The truslees who served during the year and up to the date of signature of the financial statements were.. J Mccoy A Jones S Lange E Davidson D Vvells C Wells L John New Irustees are appointed as required and receive a comprehensive induction on the activities of the charity The trustees, report was approved by the Board of TfLlStees. S Lange Trustee Date.. 3.11.Ic NASSINGTON PRE-SCHOOL CIO STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Restricted funds 2025 Total 2025 Total 2024 Note Income from: Charitable activites Investments Total income and endowments 121,192 511 121,703 121,192 511 121,703 100,428 536 100,964 Ex enditure on: Charitable activites 123.699 123,699 97,209 Net incomellexpendilure) for the yearl Net movement in funds 1,996 1,996 3.755 Net In¢omlngl{outgoingl resources before transfeTS (1,9961 (1,996) 3,755 Fund balances at 1 Seplember 78,907 150,000 228,907 225,152 Fund balances at 31 August 76,911 150,000 226,911 228,907 NASSINGTON PRE-SCHOOL CIO BALANCE SHEET YEAR ENDED 31 AUGUST 2025 Notes 2025 2024 Flxed assets Tangible assets 10 171.675 173,098 171.675 173,098 Current assets Debtors Cash at bank 11 231 59,050 1,072 55,396 59,281 56,468 CreditOTS: Amounts falling due within one year 12 4,045 659 Net current assets 55,236 55,809 Total assets less Current liabilites 226,911 228,907 Capital funds Income funds Unrestricted funds 76,911 78,907 Restricted funds 13 150.000 150,000 Total Funds 226,911 228,907 The linancial statements on pages 5 to 11 were approved by the Trustees and signed on their behalf by.. S Lange Date. S il. aai¥. The accompanying notes form part of these financial statements. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS YEAR ENDED 31 AUGUST 2025 1, ACCOUNTING POLICIES Charity information Nassinglon Pre-school CIO is a Charilable Incorporated Organisalion registered on 20 March 2017, The charity reglstration number is 1172148. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning document]. the Charities Act 2011, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {'FRS 102") and the Charities SORP '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). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows, The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. q.2 Going concern At the time of approving the financial statements, Ihe trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial staternents. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. 1.4 Income Income is recognised when the charity is legally entitled lo it after any performance conditions have been mèt, the amounts can be measured reliably, anrj it is probable thal income will be received. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES (CONTINUED) 1.5 Expenditure Expenditure is accounted for on an accruals basis. 1.6 Tangible Fixed Assets Tangible f ixed assets are initially measured at cost and subsequently measured at ccst or valuation, nel of depreciation and any impainnent losses. Depreciation is recognised so as to wrile off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings Computers 1 /1> per annum of buildings Cost 3 or 4 year slraight line 25 /0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognisecl in the statement of financial activities. At each reporting end date, the charity reviews the carrying amounts of ils tangible assels to determine whether there is any indication that Ihose assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-temi liquid investments wilh original maturities of three months or less, ancl bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial tnstruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues of FRS 102 to all of ils financial instruments. Financial instruments are recognised in the charity's balance sheet when the charily becomes party to the conlractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an inlention lo settle on a net basis or to realise the asset and settle the li3bilily simultaneousty, NASSINGTON pRE￿CHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 1. PRINCIPAL ACCOUNTING POLICIES ICONTINUED) 1.8 Financial instrurnents l¢ontinued) Basi¢ flnancial assets Basic financial assets, which include deblors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement ccnslitutes a financing transaclion, where the transaction is measured at the present vallte of the future receipts discounted at a market rate cf interest. Financial assets classified as receivable within one year are not amctrtised. BasF¢ financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are 5ubseouenlly carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities_ Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest melhod. Derecognition of financtal Ilabilities Financial liabilities are derecognised when the charitys contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The ¢ost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are re¢ognised immediately as an expense when the charity is demonstrably committed to terminale the employment of an employee or to provide termination benefits. 1.11 Retirement benefits Payments to defined contribution relirement benefit schemes are charged as an expense as they fall due. NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 2. CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In the application of the Charity's accounting policies, the Trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readi apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and unclerlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and f uture periods where the revision affects both current and future periods. 3. INCOME FROM CHARITABLE ACTIVIES 2025 2024 Nursery Fees Nursery Grants 27,954 93,238 121,192 33 927 66,501 100,428 4. INVESTMENT INCOME 2025 2024 Interest receivable 511 536 5. EXPENDITURE ON CHARITABLE ACTIVITIES 2025 2024 Staff Costs Depreciation and impairment Preschool consumables Staff training Subscriptions Repairs and maintenance Advertising 107,920 1,423 2,598 228 1,162 1,057 24 114,412 80,943 1,453 2,145 454 733 2,055 87,794 Share of support costs (see note 6) Share of governance costs (see note 61 7,770 1.517 9,287 7,618 1,797 9,415 NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 SUPPORT COSTS Support Governance osts costs Total 2025 Total 2024 Insurance Admin expenses Light and heat Phone and internet Cleaning Computer running costs Legal and professional 973 385 2.551 1.149 882 1,830 973 385 2,551 1,149 882 1,830 1,517 9,287 1,680 133 2,105 1,743 667 1,290 1,797 9,415 1,517 1,517 7,770 Governance costs includes payments to the independent examiners of £850 {2024'. £780) for independent examination fees. 7. TRUSTEES During the year, L John, a trustee of the charity, received a remuneralion of £41,274 {2024 - £38,289> for her role as the pre-school manager and employer pension contributions of £1,051 {2024 - £9621 for her role as the pre-school manager. During the year. L John, a trustee of the charity received reimbursement for travel and other expenses lotalling £8412024 - £33). This was in the course of carrying out her employed role at the nursery. During the year, D Wells, a Irustee of the charity received reimbursement for travel and other expenses totalling £43 (2024 £50). This was in the course of carrying out a fundraising event for the nursery. 8. EMPLOYEES The average number of employees during the year was.. 2025 2024 Employment costs 2025 2024 Wages and salaries Olher pension costs 105,732 2,188 107,920 79,186 1,757 80,943 NASSINGTON PRE-SCHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 9. TAXATION The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10. TANGIBLE FIXED ASSETS Freehold Land Fixtures and and Buildings Fittings Computers Total Cost At 1 September 2024 178,092 4,677 1,084 183,853 At 31 August 2025 178,092 4,677 1,084 183,853 Depreciation and impairment Al 1 Seplember 2024 5,344 4,S77 734 10,755 Depreciation charge 1,336 87 1,423 At 31 August 2025 6,680 4,677 821 12,178 Carrying amount At 1 September 2024 172,748 350 173,098 At 31 August 2025 171,412 263 171,675 11. DEBTORS 2025 2024 Prepayments and accrued income 231 1,072 12. CREDITORS 2025 2024 Trade creditors Accruals and deferred incorne Other taxation and social security 667 950 958) 659 1,030 3,015 4,045 10 NASSINGTON pRE￿CHOOL CIO NOTES TO THE ACCOUNTS (CONTINUED) YEAR ENDED 31 AUGUST 2025 13. Restricted Funds Balance at 1 September 2023 Balance at Incoming 1 September resources 2024 Balance at 31 August 2025 Incoming resources Propety purchase fund 150,000 150,000 150,000 150.000 150,000 150,OOD The property purchase fund represents £150,000 received in order to facilitale the purchase of the pre-school premises. 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR Unrestricted Unrestricted funds funds 2025 2025 Total funds 2025 Fund balances at 31 August 2025 are represented by.. Tangible assets Current assetsllliabilities} 21.675 54,654 150,000 171,675 54,654 76,329 150,000 226.329 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Unrestricted Unrestricted funds funds 2025 2025 Total funds 2025 Fund balances al 31 August 2025 are represented by Tangible assets Current asselsl{liabilities) 23,098 55,E09 150,000 173,098 55,809 78,907 150,000 228.907 16. RELATED PARTY TRANSACTION During the academic year, children of four of the truslees of the charity attended the pre-school. Fees were charged to the trustees at nonnal rates. 11 NASSINGTON PRE-SCHOOL CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR ENDED 31 AUGUST 2025 I report to the trustees on my examination of Ihe financial statements of Nassirsgton Pre-school CIO (the charity) for the year ended 31 August 2025. Responsibilities and basis of report As the Truslees of the Charity you are responsible for the preparation of the financial statements in ac¢ordan¢e wilh the reqsjirements of the Charities Act 2011 (the 2011 Act}. I report in respect of my examinalion of Ihe Charitls financial statement5 Carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's statement Your attention is drawn to the facl that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charitieg.. Statement of Recommended Practice iSSLJed on 1 April 2005 which is referred to in the extanl regulations but has now been withdrawn l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Genera15y Accepted Accounting Practice effective for reporting periods beginning on or afler 1 January 2015. I have completed my examination. I confirm Ihal no matters have come to my attention in connection wilh the examination giving me cause to believe that In any material respect. 1. Accounting records were not kept in respe¢t of the charity as required by section 130 of the Act, or 2. the accounts do not accord with those records., or 3. the financial statements do not comply wrth the applicable requirements concerning the fom and conlent of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement th81 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 olher matters in conneclion with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reache K Hilliard ACA FCCA CTA Chartered Accountant For and on behalf of Price Bailey LLP 36 Tyndall Court Commerce Road Lynchwood Peterborough PE2 6LR Date: I I rkJO@t￿er 7X 12 Nasslngton Pre￿ChoOl The Playlng Flalds, Fotheringhay Road, Nassington, Peterborough, PE8 6QU To.. K M HiifArd ACA FCCA CTA 36 Tyndall Court Comrnwce Road Lynchwood PeterborowJh PE2 6LR The followtng representstions are made on the basis of enquiries of management and staff with re￿vant knowledge and experience such as we ￿nSider n8￿sary in connectton with your independent examination of the charity's financial statements for the year ended 31 August 2025. These enquiries have includ&J inspection of supporting documentstion there appropriate and are suffictent to satisfy ourselv&8 that we can make eath of the following representstlorts. All representations are made to the best of our knovledge and belief. General 1. We acknowwe that the wwk perfomied by you is substantlally less in scope than an audit perf0m￿d in accI)rdan￿ with Intemational Standards IM Audrf