Charity registration number 1193125 Company registration number 126306D9 (England and Waltsl QEGS BLACKBURN ACADEMY NURSERY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024
QEGS BLACKBURN ACADEMY NURSERY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees C Y Gammon P Atkinson M Russell S l Desai IAppointed 25 September 20231 Se¢retsry P Atkinson Charity number 1193125 Company numbèr 12630609 Registèrèd office Queen Elizabeth's Grammar School West Park Road Blackburn Lancashire BB2 6DF Ind•pondent examiner ets Audit SeNces Fleet House New Road Lancaster United Kingdom LA1 1EZ
QEGS BLACKBURN ACADEMY NURSERY LIMITED CONTENTS Page Tnjslees report Slalement of Trustees responsibililies Independent examiner's report Slalemenl of financial acliwlies Balance sheet Statement of cash nows Notes to the financial stalemenis 8-12
QEGS BLACKBURN ACADEMY NURSERY LIMITED TRUSTEES REPORT {INCLUDING DIRECTORS, REPORTI FOR THE YEAR ENDED 31 AUGUST 2024 The Trusteès prèsènt thèir annual rÈport and finxncial statements for the year ended 31 August 2024. The financi81 statements have been prepared in accordance with the accounting policies set out ill notes 1 Comply lo the Companies Act 200e and 'Accounting and Reporting by Charities." Slalemenl of Recomrnended Practice applicable to charities preparing their accounts in accordante with thé Financial Reporting Standard applicable i the UK and Republic ol I18nd IFRS 1021" leffective 1 January 20191. Objectivea and activities The Charity's objects are to advance the educalion and wider development of children by establishing, maintaining, managing and supporting nurseries, schools and other educational establishments, predominantly in Blackburn and the surrounding areas The Charity delivers the aims through the operalitsn of a nursery provision al a School. QEGS Blackburn Academy Trust. Achièvèments and perfonnance In October 2023, the Nursery was inspected by Otsled, resulting in a 'Requirts Itnprovement, judgernent. The Nursery Manager, supported by Trustees. immediately undertook a review and developed an improvement plan to laGkle the areas requiring improvement raised in the Inspection pOrt and lo piepaie for the follow up Inspedion. Otsted undertook a reinspection in September 2024, resulting In a 'Good' juc5gèmÈnt. Dunng the year, the Nursery had 109 children iegistered. The day-lo-day capacty is 96 childien. The Inspection result irnpacted thè numbèr of children attending the Nursery - with an average occupancy of 68.10 175.kn in 20221 20231. The Nursery employs 21 rnembers 015taff. In addition, il receives support services from QEGS Blackburn Academy Trust. These servlces are outlined In a Service Level Agreernenl, and indude finan and administration support. child safeguarding. building maintenance and educational support. Financial review During the year the Nursery generated a deficit of £33,580. Policy on SelveS It is the intention ol Trustees to hold sufficient unrestricted reserves to pay the redundancy costs of its employees and ernSU the ordeily winding down of the Nursery in the event of its cessation as a business. This equates to approximatèly 3 months of payroll costs which is approximately £95.000. The Charity held unrestricted reserve5 as al 31 August 2024 of £42,699 and all are considered lo be free reserves. Over Ihe next 2 financial years. Trustees forecast that unreslricied reserves balances of £gS.000 will be achieved. Structure, governance and management QEGS Blackbum Academy Nursery Limited is a private charitable company limited by guarantee. incorporated on 28 May 2020 and registered as a charity on 15 January 2021. The company was lorffled under a memorandutn of Association which established the powers of the charitable company and Is govemed under its Articles of Association. The Trustees, who are also the direetors for the purpose of company law. and who served dunng the year and up to the dale of signature of the financial statements were. C Y Gammon P Atkinstsn M Russell S l Desai (Appointed 25 September 20231 Recruitmenl andappointment of trustees Trustees are appointed in accordance with the Charity's Memorandum and Articles of Assooiation The Trustees as Charity Trustees have control of the Charity.
QEGS BLACKBURN ACADEMY NURSERY LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Arrangpmnts fors¢ttlng key manogementpersonnel renuner•llon The Trustees consider the board of Twustee5 as compr151ng the kgy managernent p8rsonnol of the chaibty. as thèy ar¢ In charge ol dlrectlng and eontrolling the ¢hartty. Al Twst8es gNè thelr b.me freoly and no Tru6tee Trmuner81ion was pald In the year. A management Gh8rge made from QEGS Blackburn Academy TNSt wheT8 the Tiu$tèe5 are Temuneraled to cov¢r thè odmlnlstration ol the charity, PubllG benellts The Trustsos confimi that they havg complied wlth the reqiirem8Thts of section 4 ot thè Chartties Act 2011 to hove due règard to the publlc benefft guldance published tsy the ChatTty Cornmisslon for England and Wales. MAJOT rfsk #nd monagenwnt of thoBe risk The TnJste8s eontiT¥Ue to eyamin8 the principal areas of th8 charity's op8rntious and ¢YJnslder the mjor risk 18ce(J In ga¢h ollhe are8s. It is the oplnion of tbe Ttustee5 that the charY ha5 e51ab11shed r8sour¢es and a TEview sy5t¢m whioh. under normal oondilons, should allow thes8 rtsk8 to b8 mKlgated to an 8cceptsbltr level in ts dÉy to day OP8r&tiDn. The stees report was appr¢wd by Ihe Board ol Truste95. P Atklnson Trusteè 08te'. ..-
QEGS BLACKBURN ACADEMY NURSERY LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2024 The Trustees, who are also the directois of QEGS Blackburn Academy Nursery Limited for the purpose ol company law. are responsible ftsr preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requifes the Tmstees to prepare financial statements ft>i each financial year which give a true and fair view of the stale of alfaiis of the Charitable Company and of the inGQTDing iesources and application of resources. includirTrg the income and expènditure, of the charitable company for that year. In preparing these financial slatemenls, the Tru51ees are iequirèd to". selèct suitable accounting policies and then apply Ihern consistently". observe the rnethods and principles in the Charities SORP.. make judgements and eslimales that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless It Is Inappropriate to presume that the Charitable Cornpany will continue in operation. The TIu5tees are responsible foi keeping adèquate accounting records that disclose with reasonable accuracy at any time the financial position of the Charitable CoFnpany and enable them lo ensure that the financial statements Comply with the Companies Act 2006. They are also responsible foi safeguarding the assets ol the Charitable Company and hence lor taking reasonable steps for the prevention and detection ol fraud and other Irregularities
QEGS BLACKBURN ACADEMY NURSERY LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF QEGS BLACKBURN ACADEMY NURSERY LIMITED I report to the Trustees on my exarninalion of the finaneial statements of QEGS Blackbum Acaderny Nursery Limited Ithe CharitabLe Company) for the year ended 31 August 2024. Responsibilities and basis of rÈport As the Trustees of the Charitable Company land a150 11$ directors for thè purposes of company lawl you are responsible for the preparation ol the financial staternents in accordance wrth the requirement5 of the Companies Act 2006 Ilhe 20(kS Aet}. Having satisfied myself that the financial statements of the Charitable Company are not required to be audited under Part 16 01 the 2006 Act and are eligible for independent exarnination, I reptsrt in respect of my examination of the Charitable Cotnpany s financial stalements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed 811 the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs ststement Since Ihe Charrtable Company's gr05s income exceeded £250,000 your examiner musl be a member of a body listed in section 145 01 the 2011 Act. I confirm that l arn qualified lo undertake the examination because l am a member tsf ICAEW, which is one ol the listed bodies. I have completed my examination. I confim) that no matters have corne to my attention in connection with the examination giving rne cause lo believe that in any material respect.. accounting records were not kept in respect of the Charitable Company as required by section 386 of the 2006 Act". or the financial statements do not accord with those records." or the financial slalements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a tiue and fair view which is not a matter considered as part of an independent examinalion., or the financial statements have not been prepared in accoidance wilh the melhods and principles of the Slalemenl of Recommended Piactice for accounting and reporting by charities applicable to charities preparing their accounts in accordafjce with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 I have no concerns and have come across no other matters in connection with the exarnination to which attention should be drawn in this report in order to enable a proper understanding of the financial statèrnents to be reached. Su••nna Cass•y I hartèrtd Accountant) For and on behalf ofAzets Audil Services Fleet House New Road Lancaster LA1 1EZ United Kingdom Dated". 30 April 2025
QEGS BLACKBURN ACADEMY NURSERY LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2024 Unrestricted Unrèstricted funds funds 2024 2023 Notes Income an endowments fr IncDme fiotn Charitable activities Other income 607,345 1,108 629.382 1,232 Total Ineome 608,453 630.614 enditure on: Expènditure on charitsble a¢livilies 642,033 615,739 Net lexpenditurevincome for the yearl Ntt mov•m•nt in funds 133,5801 14.875 Fund balan¢es al 1 September 2023 76.279 61,247 Fund balances at 31 August 2024 42.699 76,122 The statemènt ol financial activitiès Includes all gains and Ioss85 recognised In the year. All incorne and expenditure derive from continuing activities. The statement ol financial activities also complies with the requirements for an income and expenditure a¢oounl under the Companies Act 2006.
QEGS BLACKBURN ACADE,MY NURSERY LIMITED BALANCE SHEET AS AT 31 AUGUST 2024 2024 2023 urrent as¥ Cash al bonk and in hand 50,412 91,233 Creditor¥-. •mounts falllng due wlihin one year io 17,7131 Net current ass8ts 42,899 76,122 Incomè fvnds Unrestrfcted fvnds 42,699 76,122 42.699 76.122 Th¢ company 15 entftled to the •xemption from the audA r8qulr•ment cont8in&d in s&ction 477 01 the Companle5 Act 2006. lorthe ye8r ended 31 August 2024. The dlrector$ 8cknovAedge thelr responsibilitles for complylng wlth the r¢quir8ments of the Companps Act 2006 with respect to a¢counting re¢ord5 and the prep8rthon of fin8neial stat¢ment3. The membgr5 have not TequlrEd the corryJ8ny to obtsln an audh of ts flnanclal Statewlts Yor the year in qu85tiDn in ÈccoidBnGe wlth sectlon 476. Thtso ff Tranc181 statarronts have been prepamd in accordance th¢ provislon$ appllrablè to eompanias subject to the 8rn911 compan185 re91rne. ial statements were approved by the Trustees on ...... PAtkinson Trustee Comwny registratlon number 12830809
QEGS BLACKBURN ACADEMY NURSERY LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2024 2024 2023 Nots¥ Cash flows from 0ratIng activiti•$ Cash labsorbed byllgenerated from operations 15 140,8211 24.176 Net eash ustd in investing attivitiès Net ¢o$h used in financing activities Net Ide¢reasellin¢rease in ¢•$h and cash equlvalents 140,8211 24,178 Cash and cash equivalents at beginning ol year 91.233 67,057 Cash and ca$h equivalents at end of year 50,412 91,233
QEGS BLACKBURN ACADEMY NURSERY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Ac¢ounUng policles Charlty Informatlon QEGS Blackburn Academy Nursery Limited is a private cornpany limited by guarantee ineorporated in England and Wales. The registered office is Queen Elizabeth's Grammar School. West Park Road. Blackburn, Lancashire. BB2 6DF. 1.1 Ac¢ounting convention The financial 51alements have been prepared in accordance with the charity's articles of association and etnorandum. the Charities Act 2011 and Accounting and Reporting by Charities. Stalernent of Recofflmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablè in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements have departed frorn the Charities (Accounts xnd R6portsl RégLJl3tions 2008 only to the extent required to piovide a true and fair view. This dèparture has Involved following the Staiement of Recornrnended Practice for eharitiès applying FRS 102 rather than the version of the Statement of ReLX)mrnended Practi which is referred lo In the Regulation5 bul which has since been withdrawn. The finanual statements are prepared in sterfing, which is the functional currency of the Charbtable Company. Monetary amounts in Ih85e financial statements are rounded lo the nearest £. The financial statements have been prepared under the historical cost convention. 1.2 Going concern At the time of approving the financial 518lernent5, the Tiustees have 8 reasonable expectation that the Charitable Company has adequate resources to continue In operational existèncÈ lor the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in pieparing the financial slatemenls. 1.3 Charitable funds Unrestricted funds are available for use al the discretion of the Trustees in furtherance of their charitable objectives. 1A Income Income is recognised when the Charitable Company Is 18gally 8ntitlèd to It aftèr any pèrforman ctsnditions havè b66n m6t, thè amounts can be measured reliabjy, and it is probable that income will be ieceived. Cash donations are recognised on receipt. Other donations are recognised once the ChaTrtable Company has been notified of the donatio, unless performance conditions require deferTal Df the amount Income tax recovèrable In ielalion to donations received under Gift Aid or deeds of covenant is recognised at the lime of Ihe donation. 1.5 Expenditure Expenditure is recognised once there is a legal or construetive obligation to transfer economic benefit to a third party, it is probable that a transfer ol economic benefits will be required in settlement. and the amounl of the obligation can be measured reliably. Expendilure is classified by acliwly. The costs of each activity are made up of the total ol direet costs and shared costs, including support costs involved in undertaking each activity. DiiÈct costs attributable to a single activity are allocated directly to that activity. Shared costs which Contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those adivities on a basls Conslslenl with the use of iesources. Central staff costs are allocated on the basis of tirnÈ spènt. and depreciabon charges are allocated on the portion of the asset's use.
QEGS BLACKBURN ACADEMY NURSERY LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Atcountin9 policie5 Icontinuedl 1.6 Cash and cash equivalents Cash and cash èquivalents indude cash In hand, deposits held al call with banks, other short-lem liquid investments with original rnaturities of three tnonths or less, and bank overdrafts. Bank overdrafts are shown within boriowings in curreril li8bililies. 1.7 Financial instrum•nts Basic financial assets Basic financial assets, whiGh inclutje debtors and cash and bank balances, are initially measured at transaction price Including transaction costs and are subsequently carried at amortised cost using the effective Interest rnelhod unless the ariangemenl constitutes a financing Iiansaclion. where the transaction is measured al the present value of the future rèceipts discounted al a market rate of Intèrest. Financial assets dassified as receivable within one year are not arnortised. 8asii¢ financial liabilities Basic financial li8bililies. induding creditors and bank loans are initially recognised at transaction pnce unless the airangernenl constilules a finanGing transaction. where the debt instrument is mea5LJred at the present value of the future payments dis¢ounled at 8 market rate of interest. Financial liabilities classifièd as payable within one year are not amorti5ed. Debt instruments are subsequentty carried at amortised cost. using the effective interest rate method. 1.8 Employee benefits The cost ol any unused holiday entidement is recognised in the period in which the employee's services are received. Terrnination ben8frts srè iecognisèd Immèdiatèly as an expense when the Charitable Company is dernonslrably committed lo leTtllln31e the ernployTnent ol an employee or tts provide lemination benefits. 1.9 Retirement beneTIts Payfflenls lo defined contribution ieliretnenl benefrt srhemes are chaiged as an expense a5 Ihey fall due. Critical accounting estimates and judgements In the applicalion ol the Charitable Company's auounting policies. the Trustees are required lo rnak8 judgements. estimales and assumptions about the carrying arnounl of assets and liabilities Ihat are not readily apparent from other 50urces. The estimates and associated assumptions are based on historical experience and other ladors that are Gonsider8d to be relèvant. A¢lual rèsults may differ from these Èstimates. The eslirnates and undertying a55umptions ale reviewed on 8n ongoing basis. Revision5 to accounting estimates are recognised in the period in which the e51irnate is revised where thè revision affects Only that period, or in the period ol the revision and future periods where the revision affe¢ts both current and futLJre periods. Income from Charltsble activities Unrtstrietèd Unrestritted Funds Funds 2024 2023 Income from Nursery school 607.345 629,382
QEGS BLACKBURN ACADEMY NURSERY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 Other in¢ome Unrestricted Unr•stricted funds funds 2024 2023 Other income 1,108 1,232 Expenditure on charitable activities Unre$tri¢ted Unrestdctèd Funds Funds 2024 2023 Staff costs Expenditure from Nursery school operation 399.386 50,579 341,e61 69.387 449.965 411,048 Share Of support costs (sèè note fjl Share of govemance costs Isee ntsle 61 188.499 3,569 200.870 3,821 642.033 615,739 Support costs Support Governanc• eosts costs 2024 Support Governance e05ts co$ts 2023 Expenditure from Nursery school operation Other support costs 178,933 9,566 178.933 9.566 179.920 20,950 179,920 20,950 Independent exatniner fees Legal fees 3,500 69 3,500 69 3,738 83 3.738 83 188.499 3.559 192,068 200,870 3,821 204,691 Analysed befvrfeen Charitable activities 188,499 3,569 192,068 200.870 3.821 204,891 Govemance costs includes payments lo the Independent examinèrs of £3,500 12023 £3.5001 for the independènt exarnination of the financial statements. io_
QEGS BLACKBURN ACADEMY NURSERY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 AUGUST 2024 Trustee$ None of the Trustees lor any persons connected with them) rèTrived any remuneration or bènefits from the Charitable Company during th6 year. Employees The avèrage monthly number of ernployees during the year was.. 2024 Numb•r 2023 Number Nuisery staff 21 21 Employment eosts 2024 2023 Wages and salaries SoGial security costs Other pension costs 363.930 21,309 14,147 310.909 17,382 13,370 399,386 341.661 There were no employees in the current or prior ye8r whose annual remuneration was more than £60,000. Taxation The charity is exempt Iiorn lax on incomè and gains falling within seetion 505 01 the Taxes Act 1988 01 section 252 of the Taxation ol Cttargeable Gains Act 1992 to the extent that these are applied lo ils charitable objects. 10 Creditors.. amounts falling duè thin onè year 2024 2023 Other laxalion and soaal security Trade creditors Other creditors 424 2,775 4,514 3,862 8,919 2.330 7,713 11 Retlremènt bgnefit schomes Defined contribution $¢hemes The Charitable Company operates a defined contribution pension schem8 The charge lo SOFA in respect of defined contribution schemes was £14.14712023- £13,37QI. 11
QEGS BLACKBURN ACADEMY NURSERY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2024 12 Anatysis of net assèts betsvtren funds Unrostricted Unrestricted funds funds 2024 2023 Fund balances al 31 August are represented by.. Current assetsllliabililiesl 42.699 76.122 42,699 76,122 13 Opgrating l•ase commilments At the reporting end datè the Charrtable CoTnpany had outstanding commitments lor lulure tninimum lease payments under non-cancellable operating lèases, which fall due as follows.. 2024 2023 thin one year 30,000 30,000 The charity leas@s the building. in which it operates. from QEGS Blackburn AGademy Ttvsl. The lease shall lerminale with imfflediate effect on termination of the Service Level Agreement, which is renewed on an annual basis. 14 Relatèd party transactions Durin9 the year QEGS Blackburn Acadetny Nursery Limited made paymènts for servicè5 as part of the Service Level Agreement to QEGS Blackburn Academy Trust amounting to £215.87212023'. £189.3231. 15 Cash generatèd from operations 2024 2023 IDefiatll8urpus for the year 133,5801 14,875 Movements in working capital". Ilncreaselldecrease in debtors IDecreasellincre3se in creditors 3,459 5.842 17.2411 ash labsortjed byllgenerated from operatitsn5 140,8211 24,176 16 Analysis of changès in net fund The Charitable Cornpany had no debt during the year. 12-