Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Reports and Accounts for Year End 31 August 2025 Charity number: 1181057
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Trustees Annual report for the year ended 31[st] August 2025
Contents Page
| Page | |
|---|---|
| Report of the trustees | 3-5 |
| Report of the Independent Auditors | 6-8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Cash Flow Statement | 11 |
| Notes to the Cash Flow Statement | 12 |
| Notes to the Financial Statements | 13-20 |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Trustees Annual report for the year ended 31[st] August 2025
The trustees present their annual report and financial statements of the charity for the year ended[31][st] August 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and the Charities Statement of Recommended Practice (second edition) aid Financial Reporting Standard FRS 102.
Objectives, Activities & Achievements
The Charity’s object is to advance the development and education of mainly, but not exclusively, pre-school children, by offering appropriate play, education, and care facilities through the medium of Welsh and English and by encouraging parents to understand and provide for the needs of their children.
The Charity provides childcare through the medium of Welsh and English at several different locations throughout Rhondda Cynon Taf and offers a variety of different services from sessional care, wrap- around to full day care.
The charities settings are registered for the Childcare offer and several of them are also ESTYN and Flying Start registered so that children within the community are able to access funded places.
The Charity currently has 9 nurseries located across Rhondda Cynon Taf and ran the same nurseries during 2024/25. It provides quality childcare to children in the local communities providing sessional care, full day care and wrap around service.
Risk Policy
The Trustees has considered all major risks and has taken the appropriate action to mitigate these risks. The charity keeps a risk assessment form on all activities.
Trustees
The following served as trustees during the year:
-
Sian Mererid Boswell
-
Glesni Haf Ayres (resigned 7[th] October 2025)
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Mari Wyn Roberts (until January 2025)
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Nigel Kennedy (appointed 1[st] September 2024)
The following trustee was appointed after the year end:
- Juliet Jones (appointed 7[th] October 2025)
Office Address:
18 Main Road Tonteg CF38 1PN
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Trustees Annual report for the year ended 31[st] August 2025
Trustees pay
The trustees consider the board of trustees and key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis.
All trustees give of their time freely and no trustee remuneration was paid in the year. No expenses were paid to the trustees.
Legal Status
The organisation is a Constituted Charitable Incorporated Organisation and is registered with the Charity Commission (Charity number: 1181057).
Organisational Structure
The day to day running of the charity is the responsibility of its employees, with support from Camau Cyntaf i Ddysgu management, who are experienced in childcare. Major decisions are dealt with at the meetings of the management committee. The members of the management Committee, who constitute the charities trustees, are usually local residence, parents/guardians of past and present children who attend the nursery or someone who has an interest in improving the quality of pre-school education.
Review of the past year
As a result of sustained effort on the part of the trustees, senior management team and the charity’s employees, the Charity’s financial position showed a healthy situation at the Balance Sheet date with Reserves of £417,839.
Reserves Policy
The Charity’s policy on reserves is that ideally up to six months reserves are maintained at any one time in the current account. This is sufficient to meet all outstanding expenditure.
The charity, in future, will also create a reserve fund to support future protects such as opening new nurseries or improving the facilities of existing nurseries.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Trustees Annual report for the year ended 31[st] August 2025
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a Trustees’ Annual Report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
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Select suitable accounting policies and then apply them consistently;
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Observe the methods and principles in the applicable Charities SORP;
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Make judgements and estimates that are reasonable and prudent;
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State whether applicable accounting standards have been followed, subject to any material departures that
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must be disclosed and explained in the financial statements;
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
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charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of financial statements.
This report was approved by the Trustees on 30-06-2026
Signed on behalf of the Trustees
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________
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Sian Mererid Boswell
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FIRST STEPS NURSERY
Opinion
We have audited the financial statements of First Steps Nursery (the 'charity') for the year ended 31 August 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 charity's affairs as at 31 August 2025 and of its incoming resources and application of resources, 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 Charities Act 2011.
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 charity 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 charity'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.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FIRST STEPS NURSERY
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.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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The information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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We have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which 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 charity'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 charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material miss-statements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
However, it is the primary responsibility of management with the oversight of those charged with governance, to ensure that the entities operations are conducted in accordance with the provisions of laws and regulations, for the prevention and detection of fraud.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF FIRST STEPS NURSERY
We also considered those laws and regulations that have a direct impact on the financial statements, such as FRS 102 and the Charities Act and Government grant regulations. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements, (including the risk of over-riding of controls) and determined that the principal risks were related to understatement of income and over-ride of controls. Audit procedures performed included:
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discussions with Management, including their own identification and assessment of the risks of irregularities including any known or suspected incidences of non-compliance with laws and regulations and fraud;
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reviewing the latest Estyn reports for each of the nurseries to ensure that they are compliant;
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reviewing correspondence with relation to compliance with laws and regulations;
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reviewing meeting minutes of the Trustees;
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identifying the journal entries, to make sure that we understood the reasoning behind them and agreed that they were appropriate;
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identifying large or unusual transactions to ensure that we understood the reasoning behind them and agreed that they were appropriate
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selecting a sample of transactions and tracing the recording of income to ensure that the systems in place ensure that there is no understatement of income.
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ensuring that we understand the relationship between the charity and the Related Parties and the transactions between them;
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reviewing cashflow forecasts to ensure changes to NMW and Employers' NI do not impact the going concern of the charity;
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designing audit procedures to incorporate unpredictability around the nature of timing and extent of our testing.
There are inherent limitations in the audit procedure as described above. We are less likely to become aware of incidents of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
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.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Bethan Wyn Vaughan Llyr James Chartered Certified Accountants and Registered Auditors 25 Bridge Street Carmarthen SA31 3JS Date 30-06-2026 8
Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Statement of Financial Activities for the year ended 31[st] August 2025
| Notes Income Donations 2 Charitable Activities 3 Other Income 4 Investment Income 5 Total Income Expenditure Cost of Sales 6 Employment Costs 6 Premises Costs 6 General Expenses 6 Total Expenditure Net Movement on Funds 9 Opening Balance Closing Balance |
Unrestricted Income £ 16,500 1,382,428 2,558 29 1,401,515 45,188 1,214,918 75,191 48,604 1,383,901 17,614 225,968 243,582 |
Restricted Income £ - 52,010 - - 52,010 10,178 5,996 35,836 - 52,010 - - - |
Designated Income £ - - - - - - - - - - 174,257 174,257 |
2025 £ 16,500 1,434,438 2,558 29 1,453,525 55,366 1,220,914 111,027 48,604 1,435,911 17,614 400,225 417,839 |
2024 £ 8,577 1,398,718 1,447 30 |
|---|---|---|---|---|---|
| 1,408,772 90,680 1,263,232 146,082 55,013 |
|||||
| 1,555,007 (146,235) 546,460 |
|||||
| 400,225 |
No separate income and expenditure statement has been prepared. The notes on pages 13 to 20 form a full part of these accounts.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Balance Sheet as at 31[st] August 2025
| Notes Fixed Assets 10 Current Assets Debtors 11 Cash in hand and at bank Creditors: amounts falling due within one year 12 Net Current Assets Net Assets Capital and reserves Unrestricted Funds 13 Restricted Funds 14 Designated Funds 15 |
2025 147,271 294,843 |
1,751 416,088 |
2024 £ 78,862 336,342 |
2,474 397,751 |
|---|---|---|---|---|
| 442,114 (26,026) |
415,204 (17,453) |
|||
| 417,839 | 400,225 | |||
| 243,582 - 174,257 |
225,968 - 174,257 |
|||
| 417,839 | 400,225 |
Approved by the Charity on and signed on their behalf by 30-06-2026
Sian Mererid Boswell
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Statement of Cashflow as at 31[st] August 2025
| Notes Cash Flow from Operating Activities 1 Cash generated from operations Net cash provided by operating activities Cash flows from investing activities Fixed Assets Additions Interest Received Net cash provided by investing activities Cash in cash and cash equivalents in the reporting period Cash and cash equivalent at the beginning of the reporting period 2 Cash and cash equivalents at the end of the reporting period |
2025 £ (41,528) (41,528) - 29 29 (41,499) 336,342 294,843 |
2024 £ (155,506) |
|---|---|---|
| (155,506) | ||
| - 30 |
||
| 30 | ||
| (155,476) 491,818 336,342 |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Statement of Cashflow as at 31[st] August 2025
1. Reconciliation of Net Income to Net Cash Flow from Operating Activities
| Net income / (expenditure) for the reporting period (as per the Statement of Financial Activities) Adjustment for: Depreciation Charge Interest Received (Increase) in Debtors Increase / (Decrease) in Creditors Net Cash provided by operations |
2025 £ 17,614 724 (29) (68,409) 8,572 (41,528) |
2024 £ (146,235) 11,227 (30) (9,237) (11,231) |
|---|---|---|
| (155,506) |
2. Analysis of Changes in Net Funds
| Net Cash Cash at bank and in hand |
At 1/9/24 Cash Flow At 31/8/25 £ £ 336,342 (41,499) 294,843 |
|---|---|
| 336,342 (41,499) 294,843 |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Notes and Accounting Policies
1. Accounting Policies
Basis of preparing the financial statements
The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
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.
Taxation
The charity is exempt from 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.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Notes and Accounting Policies
Accounting Policies (continued)
Going Concern
The accounts have been prepared on the assumption that the charity is able to carry on operating as a going concern, which the trustees consider appropriate.
Fixed assets
First Steps Nursery defines a fixed asset as a purchase or gift which provides ongoing benefit to the charity where the purchase price, including non-recoverable VAT, exceeds £1,000 and items below this value should be treated as an expense. All fixed assets are initially recorded at cost.
Any improvements to the properties that are grant funded are treated as revenue costs and shown as repairs as the charity does not own the buildings.
Depreciation
Depreciation is calculated to write off the cost of an asset over the useful economic life of that asset:
- a. Improvements: Straight line depreciation over 5 years b. Furniture & Equipment: Straight line depreciation over 5 years
2. Donations
| Fundraising Income | Unrestricted Income £ 16,500 16,500 |
Restricted Income £ - - |
Designated Income £ - - |
2025 £ 16,500 16,500 |
2024 £ 8,577 |
|---|---|---|---|---|---|
| 8,577 |
3. Charitable Activities Income
| Unrestricted | Restricted | Designated | 2025 | 2024 | ||
|---|---|---|---|---|---|---|
| Income | Income | Income | ||||
| £ | £ | £ | £ | £ | ||
| Fees | 393,276 | - | - | 393,276 | 368,536 | |
| Rhondda | Cynon Taf | |||||
| Borough | ||||||
| - | Grants | - | 52,010 | - | 52,010 | 112,606 |
| - | Flying Start | 709,131 | - | - | 709,131 | 668,837 |
| - | Childcare Offer | 157,340 | - | - | 157,340 | 124,854 |
| - | Education | 122,681 | - | - | 122,681 | 123,885 |
| -------------- | ------------ | ------------- | ------------- | ------------ | ||
| 1,382,428 | 52,010 | - | 1,434,438 | 1,398,718 | ||
| ======== | ======= | ======== | ======== | ======= |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery Charity Number: 1181057
Notes and Accounting Policies (continued)
4. Other Income
| Other Income | |||||
|---|---|---|---|---|---|
| Recharged Items Other nvestment Income Bank Interest |
Unrestricted Income £ 379 2,179 2,558 Unrestricted Income £ 29 29 |
Restricted Income £ - - - Restricted Income £ - - |
Designated Income £ - - - Designated Income £ - - |
2025 £ 379 2,179 2,558 2025 £ 29 29 |
2024 £ 204 1,243 |
| 1,447 | |||||
| 2024 £ 30 |
|||||
| 30 |
5. Investment Income
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Notes and Accounting Policies (continued)
6. Charitable Expenditure
| Cost of Sales General Purchases Employment Costs Wages & Salaries Staff Training Staff Welfare Staff Recruitment Premises Costs Rent Rates Power, Heat & Light Cleaning General Administrative Expenses Phone & Internet Memberships & Subscriptions Insurance Repair & Maintenance Health & Safety Depreciation Bank Charges Bad debt Written Off Uniform Legal Fees Other Expenses Auditors’ remuneration |
2025 £ 55,366 1,212,537 3,553 3,898 926 1,220,914 86,414 753 5,129 18,731 111,027 8,653 2,699 2,575 22,781 1,089 724 721 285 180 1,200 797 6,900 48,604 |
2024 £ 90,680 |
|---|---|---|
| 1,253,917 4,108 2,903 2,304 |
||
| 1,263,232 110,813 599 5,918 28,752 |
||
| 146,082 9,780 2,442 1,034 15,284 463 11,227 617 4,999 1,721 - 546 6,900 |
||
| 55,013 |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Notes and Accounting Policies (continued)
7. Trustees' Remuneration and Benefits
There were no trustees' remuneration or other benefits for the year ended 31 August 2025 nor for the year ended 31 August 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 August 2025 nor for the year ended 31 August 2024.
8. Employment Costs
| Wages & Salaries Social Security Costs Other Pension Costs Average monthly number of employees during the year |
2025 2024 £ £ 1,157,402 1,178,891 33,986 55,037 21,149 19,989 |
|---|---|
| 1,212,537 1,253,917 |
|
| 2025 2024 70 80 |
No employees received emoluments in excess of £60,000.
9. Net Movement on Funds
| The net movement on funds is stated after charging: Depreciation Auditor's remunerations Operating lease charges |
2025 £ 704 6,900 86,414 |
2024 £ 11,227 6,900 110,813 |
|---|---|---|
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057
Notes and Accounting Policies (continued)
10. Tangible Fixed Assets
| Nursery Improvements Fixtures & Fittings £ £ COST As at 1 September 2024 47,171 8,963 Additions - - At 31stAugust 2025 47,171 8,963 DEPRECIATION At 1stSeptember 2024 47,170 6,489 Charge for year - 724 At 31stAugust 2025 47,170 7,213 NET BOOK VALUE At 31stAugust 2025 1 1,750 At 31stAugust 2024 1 2,474 11. Debtors 2025 £ Staff Loans 8,988 CCID 130,150 Sale Debtors - Other - Prepayments 8,133 147,271 12. Creditors: Amounts falling due within 1 year 2025 £ Taxation & social security 15,694 Other creditors 10,332 26,026 |
Nursery Improvements Fixtures & Fittings £ £ 47,171 8,963 - - |
Nursery Improvements Fixtures & Fittings £ £ 47,171 8,963 - - |
Totals £ 56,134 - |
|---|---|---|---|
| 47,171 8,963 | 56,134 | ||
| 47,170 6,489 - 724 |
53,659 724 |
||
| 47,170 7,213 |
54,383 | ||
| 1 1,750 |
1,751 | ||
| 1 2,474 |
2,475 | ||
| 2025 £ 8,988 130,150 - - 8,133 |
2024 £ 12,388 47,462 10,426 898 7,688 78,862 2024 £ 6,160 11,293 17,453 |
||
| 147,271 | |||
| 2025 £ 15,694 10,332 |
|||
| 26,026 |
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057 Notes and Accounting Policies (continued
13. Unrestricted Funds
| 13. Unrestricted Funds | |
|---|---|
| General Funds 14. Restricted Funds General Funds |
Balance Balance September Incoming Outgoing Transfers August 2024 2025 £ £ £ £ £ 225,968 1,453,525 1,435,911 - 243,582 |
| 225,968 1,453,525 1,435,911 - 243,582 Balance Balance September Incoming Outgoing Transfers August 2024 2025 £ £ £ £ £ - 52,010 52,010 - - |
|
| - 52,010 52,010 - - |
Gants were received by the charity from the local authority, Rhondda Cynon Taf, for specific expenditure for the nurseries. The income and expenditure were treated as Restricted Funds.
15. Designated Funds
| 15. Designated Funds | |
|---|---|
| Overhead Reserve Fund | Balance Balance September Incoming Outgoing Transfers August 2024 2025 £ £ £ £ £ 174,257 - - - 174,257 |
| 174,257 - - - 174,257 |
In line with Charity guidance for building reserves, First Steps Nursery keeps a designated fund towards the unpredictability of the income stream.
Recent changes in the funding formula have resulted in nurseries running at a loss in the short term (due to a lack of children). School changes in the decision of when admission occurs can result in unplanned shortfalls, and given the fixed costs of employment, the charity must fund the staffing and rental costs. Whilst all efforts are made to plan the charity finances, regulatory changes, especially with short-term warning, cannot be controlled.
The designated fund was first created when the charity took over the operating of new nurseries, and the funds held by those nurseries were transferred to First Steps Nursery.
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Docusign Envelope ID: 6363ADA7-BB19-8FAD-838D-F9F3AD8429EA
First Steps Nursery
Charity Number: 1181057 Notes and Accounting Policies (continued
16. Related Party Disclosures
Camau Cyntaf i Ddysgu (CCID) CBC
The charity received the following income from CCID during the year: Income £712,085.
Money owing from CCID on 31 August 2025 is included under debtors in the accounts and the balance at the year-end was £130,150.
A trustee of the charity is also a director of CCID. Directors of CCID are responsible for the day-to-day running and management of the charity.
Rees Astley
A trustee of the charity is employed by Rees Astley who is the insurance broker for First Steps Nursery. All transactions with Rees Astley were made at arm’s length and under normal trading conditions. The trustee did not profit personally from the insurance policies taken out by the charity.
17. Pension Commitments
The charity operates a defined contribution pension scheme on behalf of the employees. The assets of the pension fund are kept separate to the company's assets. The annual commitment to this fund was £21,149 (2024: £19,989).
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