Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Registered number: 04671163 Charity number: 1210917
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Trustees' Report and Financial Statements
For the year ended 31 August 2025
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent auditors' report on the financial statements | 5 - 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Statement of cash flows | 10 |
| Notes to the financial statements | 11 - 21 |
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Reference and Administrative Details of the Charity, its Trustees and Advisers For the year ended 31 August 2025
| Trustees | J Humphrey, Trustee ( resigned 15 January 2025) |
|---|---|
| L. P. Miller, Trustee | |
| K Jones, Trustee | |
| S. Nickerson, Trustee | |
| G Newman, Trustee (appointed 8 October 2025) | |
| T. Downer, Trustee (appointed 1 May 2025) | |
| A. Webb, Trustee (appointed 24 January 2025) | |
| Company registered number 04671163 Charity registered number 1210917 Registered office Wymering Road North End Portsmouth Hampshire PO2 7HX Company secretary K. Denton Independent auditors UHY Hacker Young Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ |
Page 1
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Trustees' report For the year ended 31 August 2025
The Trustees present their annual report together with the audited financial statements of the Charity for the 1 September 2024 to 31 August 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Previously operating as an exempt charitable company, Little Thinkers Pre-School & Nursery was granted registration with the Charity Commission on 13 November 2024. The company is wholly owned by The Thinking Schools Academy Trust, itself an exempt charity.
The financial statements, and the comparative information, are presented in line with the charity SORP requirements.
Objectives and activities
a. Policies and objectives
The charitable company's objects are general charitable purposes, but the principal object of the Charity is to provide childcare and early years nursery provision facilities for children in Portsmouth.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Activities undertaken to achieve objectives
The Trustees pride themselves in providing a safe, nurturing environment filled with learning opportunities. The Charity employs experienced, qualified and caring staff who help children discover their world through multi-sensory experiences, to make new friends and to become confident, independent learners.
Achievements and performance
a. Main achievements of the Charity
The Charity is funded by fees and grants. During the year the Charity received £685k (2024: £383k) in grants from Local Authorities and £242k (2024: £264k) in fees generated from charges to parents and childcare vouchers.
This income was used to fund the early years provision operated by the Charity. The amount spent on the early years provision, including support costs, during the year amounted to £1.03m (2024: £607k).
The Charity offers 98 places and has c. 125 pupils on roll at its New Horizon setting in Portsmouth. This setting is currently rated ‘Requires Improvement’ under the old Ofsted Framework and is awaiting inspection under the new framework, expected May 2026.
On 1 September 2024 the Charity opened a new setting at Meon Way in Portsmouth, offering 26 places and on 1 November 2024 opened a further two new settings at Curledge Street and Kings Ash in Paignton, each offering 9 places for under 2s.
Following successful applications for funding through the School Based Nursery Capital Grant, the Charity will be opening a new setting at All Faiths Academy in Medway on 26 January 2026 and new settings in both Penbridge School in Portsmouth and at Furzeham Academy in Brixham in April 2026.
Page 2
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees meet on a regular basis to review the reserves and future requirements of the Charity. Future needs are considered together with any risks and contingencies that may exist. The Trustees are confident that sufficient reserves will be generated to enable the Charity to achieve its objectives.
All funds are treated as unrestricted reserves since they are received for the Charity's charitable objects and are not under specific covenant. The unrestricted fund represents the funds arising from past operating results, and represents the reserves of the Charity. The Trustees are satisfied that the balance of reserves held is satisfactory given the nature of the Charity's activities.
c. Principal risks and uncertainties
The Trustees have assessed the major risks to which the Charity is exposed, and in particular those related to the operations and finance of the Charity, and they are satisfied that adequate systems and controls are in place to manage the exposure to major risks.
The principle risks are financial including the potential reduction in pupil numbers and the loss of grants receivable. The Trustees manage this risk by maintaining a high standard of education and the governance of the Charity to ensure it is well run. Most grants receivable are linked to the associated expenditure such that if the grants would cease to be payable then the associated costs would cease, or at least reduce, too.
Structure, governance and management
a. Constitution
Little Thinkers Pre-School & Nursery is registered as a charitable company limited by guarantee and was set up by a Trust deed.
As noted above, the previously exempt charity was granted registration with the Charity Commission on 13 November 2024.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision-making policies
The Trustees of the Charity are legally responsible for the overall management and control of the Charity and meet regularly. The day to day affairs of each setting are managed by the Nursery Manager at each location, together with dedicated teams. They report to the Trustees on a regular basis.
d. Policies adopted for the induction and training of Trustees
New Trustees undergo an orientation day to brief them on their legal obligations under the Charities Act, the committee, decision making processes, the business plan and the recent financial performance of the charity. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
Page 3
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Trustees' report (continued) For the year ended 31 August 2025
Structure, governance and management (continued)
e. Related party relationships
The charity is classed as a subsidiary of The Thinking Schools Academy Trust, company no. 07359755, which is the sole member.
Member' liability
The member of the Charity guarantees to contribute an amount not exceeding £10 to the assets of the Charity in the event of winding up.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for 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 requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:
-
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
-
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, UHY Hacker Young, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Approved by order of the members of the board of Trustees and signed on their behalf by:
L. Miller
Date: 21 January 2026
Page 4
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Independent Auditors' Report to the Members of Little Thinkers Pre-School & Nursery
Opinion
We have audited the financial statements of Little Thinkers Pre-School & Nursery (the 'Charity') for the year ended 31 August 2025 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, 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, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charitable company's affairs as at 31 August 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. 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. 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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
-
the information given in the Trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements.
-
the Trustees' report has been prepared in accordance with applicable legal requirements.
Page 5
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Independent Auditors' Report to the Members of Little Thinkers Pre-School & Nursery (continued)
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
-
the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of Trustees' remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit; or
-
the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' report and from the requirement to prepare a Strategic report.
Responsibilities of Trustees
As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report 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 misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, was as follows:
-
we identified the laws and regulations applicable to the charity through discussions with management, and from our commercial knowledge and experience of the charity sector;
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we focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the operations of the charity, including the Companies Act 2006;
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we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting correspondence; and
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identified laws and regulations were communicated within the audit team and the team remained alert to instances of noncompliance throughout the audit.
We assessed the susceptibility of the charity’s accounts to material misstatement, including obtaining an understanding of how fraud might occur, by:
-
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
-
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
Page 6
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Independent Auditors' Report to the Members of Little Thinkers Pre-School & Nursery (continued)
To address the risk of fraud through management bias and override of controls, we:
-
performed analytical procedures to identify any unusual or unexpected relationships;
-
tested journal entries to identify unusual transactions;
-
assessed whether judgements and assumptions made in determining the accounting estimates set out in the accounting policies were indicative of potential bias; and
-
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-
agreeing financial statement disclosures to underlying supporting documentation;
-
reading minutes of meetings of those charged with governance; and
-
enquiring of management and representatives of Trustees as to actual and potential litigation and claims.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
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 Auditors' report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Allan Hickie BSc FCA (Senior statutory auditor)
for and on behalf of
UHY Hacker Young
Chartered Accountants Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ
Date: 05 February 2026
Page 7
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 August 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: 14 Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 74,899 927,709 666 1,003,274 1,025,639 1,025,639 (22,365) 195,095 (22,365) 172,730 |
Total funds 2025 £ 74,899 927,709 666 1,003,274 1,025,639 1,025,639 (22,365) 195,095 (22,365) 172,730 |
Total funds 2024 £ 26,776 647,371 693 |
|---|---|---|---|
| 674,840 | |||
| 607,321 | |||
| 607,321 | |||
| 67,519 | |||
| 127,576 67,519 |
|||
| 195,095 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 21 form part of these financial statements.
Page 8
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery (A company limited by guarantee) Registered number: 04671163
Balance sheet As at 31 August 2025
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 13 Net current assets Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
36,067 333,296 369,363 (236,451) |
2025 £ 39,818 132,912 172,730 - 172,730 172,730 |
24,904 165,814 190,718 (41,171) |
2024 £ 45,548 149,547 |
|---|---|---|---|---|
| 195,095 | ||||
| - 195,095 |
||||
| 195,095 |
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
L. Miller
Date: 21 January 2026
The notes on pages 11 to 21 form part of these financial statements.
Page 9
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Statement of cash flows For the year ended 31 August 2025
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Purchase of tangible fixed assets Net cash used in investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2025 £ 175,012 (7,530) (7,530) 167,482 165,814 333,296 |
2024 £ 76,259 |
|---|---|---|
| (39,957) | ||
| (39,957) | ||
| 36,302 129,512 |
||
| 165,814 |
The notes on pages 11 to 21 form part of these financial statements
Page 10
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
1. General information
Little Thinkers Pre-School & Nursery Limited is a charitable company limited by guarantee, incorporated in England and Wales, registration number 04671163. The registered office address is Wymering Road, North End, Portsmouth, Hampshire, England PO2 7HX.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Little Thinkers Pre-School & Nursery meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate, i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements.
Having considered the current cash position and their reasonable expectations of the outlook for the year ahead, the Trustees have concluded that there are no material uncertainties over going concern and that the going concern basis remains appropriate for the preparation of the financial statements.
2.3 Income
All income is recognised once the charitable company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income from charitable activities comprises revenue recognised in respect of fees received from parent and local government grant funding. Any fees received in advance for the following academic year are reflected as deferred income.
Where assets and liabilities are received on the transfer of an existing pre-school into the charitable company, the transferred assets are measured at fair value and recognised in the Balance Sheet at the point when the risks and rewards of ownership pass, with an equal amount of income to the net assets acquired recognised within 'Income from Donations'.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 11
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
2. Accounting policies (continued)
2.5 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
Furniture and equipment - 20%
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of financial activities.
2.6 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.7 Pensions
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. There were no outstanding contributions payable to the fund at the balance sheet date.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
3. Income from donations and legacies
| Donations Total 2024 |
Unrestricted funds 2025 £ 74,899 26,776 |
Total funds 2025 £ 74,899 26,776 |
Total funds 2024 £ 26,776 |
|---|---|---|---|
On 1 September 2024 the activities, assets and liabilities of Jack and Jill Pre-School Nursery, which closed on 31 August 2024, were transferred to the charitable company for £nil consideration. The setting was opened as Little Thinkers at Meon Way.
The transfer has been accounted for as a combination that is in substance a gift. The assets and liabilities transferred were valued at their fair value and recognised in the Balance Sheet under the appropriate heading with a corresponding net amount recognised as a net gain in the Statement of Financial Activities as Income from Donations.
The amount included within the donations figure above is £73,223.
Page 12
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
4. Income from charitable activities
| Fees paid by local authority grants Fees paid by parents |
Unrestricted funds 2025 £ 685,467 242,242 927,709 |
Total funds 2025 £ 685,467 242,242 927,709 |
Total funds 2024 £ 383,463 263,908 |
|---|---|---|---|
| 647,371 |
All income in the prior year related to unrestricted funds.
5. Other incoming resources
| Other income Analysis of 2024 total by fund |
Unrestricted funds 2025 £ 666 693 |
Total funds 2025 £ 666 693 |
Total funds 2024 £ 693 |
|---|---|---|---|
6. Analysis of expenditure on charitable activities
Summary by fund type
| Pre-school education Analysis of 2024 total by fund |
Unrestricted funds 2025 £ 1,025,639 607,321 |
Total 2025 £ 1,025,639 607,321 |
Total 2024 £ 607,321 |
|---|---|---|---|
Page 13
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
7. Analysis of expenditure by activities
| Total | Total | |||
|---|---|---|---|---|
| Direct costs | Support costs | funds | funds | |
| 2025 | 2025 | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Pre-school education | 872,939 | 152,700 | 1,025,639 | 607,321 |
Analysis of direct costs
| Staff costs Rent Food Supplies Sport and dance sessions Insurance Staff training Agency costs |
Total funds 2025 £ 767,900 26,634 22,998 14,018 - 5,300 3,589 32,500 872,939 |
Total funds 2024 £ 468,626 35,385 20,583 11,203 2,525 2,518 3,046 16,210 |
|---|---|---|
| 560,096 |
Page 14
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
7. Analysis of expenditure by activities (continued)
Analysis of support costs
| Repairs and maintenance Printing and stationery Legal and professional Depreciation Telephone Premises costs Computer costs Subscriptions Sundry expenses Uniforms Staff recruitment Bank charges Other support costs |
Total funds 2025 £ 6,484 1,947 10,080 13,260 346 11,501 - 5,604 1,444 1,490 - 801 99,743 152,700 |
Total funds 2024 £ 8,347 5,314 7,358 3,328 1,604 6,812 1,696 3,164 - 2,808 1,811 324 4,659 |
|---|---|---|
| 47,225 |
8. Auditors' remuneration
Fees payable to the Charity's auditor for the audit of the Charity's annual accounts
| 2025 | 2024 |
|---|---|
| £ | £ |
| 4,080 | 3,960 |
9. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2025 £ 696,210 55,270 16,420 767,900 |
2024 £ 435,304 21,616 11,706 |
|---|---|---|
| 468,626 |
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Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
9. Staff costs (continued)
The average number of persons employed by the Charity during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Employees | 34 | 24 |
No employee received remuneration amounting to more than £60,000 in either year.
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £4,005) .
During the year ended 31 August 2025, expenses totalling £ NIL were reimbursed or paid directly to Trustee (2024 - £186 to 1 Trustee) . The expense relates to the reimbursement for a DBS check and travel to London for this check.
Page 16
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
| 11. Tangible fixed assets Cost At 1 September 2024 Additions At 31 August 2025 Depreciation At 1 September 2024 Charge for the year At 31 August 2025 Net book value At 31 August 2025 At 31 August 2024 12. Debtors Trade debtors Other debtors Prepayments and accrued income |
2025 £ 1,551 - 34,516 36,067 |
Furniture and equipment £ 65,671 7,530 |
|---|---|---|
| 73,201 | ||
| 20,123 13,260 |
||
| 33,383 | ||
| 39,818 | ||
| 45,548 | ||
| 2024 £ - 8,539 16,365 24,904 |
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Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income Resources deferred during the year |
2025 £ 25,808 11,157 199,486 236,451 2025 £ 184,066 |
2024 £ 13,043 13,675 14,453 |
|---|---|---|
| 41,171 | ||
| 2024 £ - |
Deferred income at the balance sheet date comprises Early Education Funding (EEF) received in advance in respect of the Autumn 2025 term.
14. Statement of funds
Statement of funds - current year
| Unrestricted funds General fund Statement of funds - prior year Unrestricted funds General fund |
Balance at 1 September 2024 £ 195,095 Balance at 1 September 2023 £ 127,576 |
Income £ 1,003,274 Income £ 674,840 |
Expenditure £ (1,025,639) Expenditure £ (607,321) |
Balance at 31 August 2025 £ 172,730 |
|---|---|---|---|---|
| Balance at 31 August 2024 £ 195,095 |
Page 18
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 39,818 369,363 (236,451) 172,730 |
Total funds 2025 £ 39,818 369,363 (236,451) |
|---|---|---|
| 172,730 |
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total Reconciliation of net movement in funds to net cash flow from operating activities Net income/expenditure for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Increase in debtors Increase in creditors Net cash provided by operating activities |
Unrestricted funds 2024 £ 45,548 190,718 (41,171) 195,095 2025 £ (22,365) 13,260 (11,163) 195,280 175,012 |
Total funds 2024 £ 45,548 190,718 (41,171) |
|---|---|---|
| 195,095 | ||
| 2024 £ 67,519 |
||
| 3,237 (24,002) 29,505 |
||
| 76,259 |
16. Reconciliation of net movement in funds to net cash flow from operating activities
Page 19
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
17. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2025 £ 333,296 333,296 |
2024 £ 165,814 |
|---|---|---|
| 165,814 |
18. Analysis of changes in net debt
| Cash at bank and in hand | At 1 September 2024 £ 165,814 165,814 |
Cash flows £ 167,482 167,482 |
At 31 August 2025 £ 333,296 |
|---|---|---|---|
| 333,296 |
19. Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. There were no outstanding contributions payable to the fund at the balance sheet date.
20. Operating lease commitments
At 31 August 2025 the Charity had commitments to make future minimum lease payments under non-cancellable operating leases as follows:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | 13,367 | 13,367 |
21. Related party transactions
During the year, the Charity entered into transactions with its parent undertaking, The Thinking Schools Academy Trust ("TSAT") (company number 07359755). The Charity paid TSAT £49,000 (2024 - £35,000) in rent and service charges. In addition, other purchases from TSAT amounted to £65,140, for educational support services in relation to the opening of the new settings in Paignton. Consequently total purchases were £114,140 (2024 - £35,000).
Sales of £1,980 were made by the Charity to TSAT during the year.
At the year end, the Charity owed £10,142 to TSAT..
The Charity also had transactions with Thinking Solutions for Education Limited (company number 11463368), a fellow subsidiary of TSAT, with £7,128 paid during the year for services received.
Page 20
Docusign Envelope ID: 6E5EA229-452C-4E46-B49F-B38BB6615399
Little Thinkers Pre-School & Nursery
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 August 2025
22. Controlling party
The ultimate controlling party is The Thinking Schools Academy Trust (company no. 07359755) by virtue of being the sole member.
23. Taxation
Since the entity is an exempt charity it is therefore is not liable to corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to charities.
Page 21