Company registration number: 00159730 Charity registration number: 201911 

## Chiltern Nursery and Training College 

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2025 

Vale & West Accountancy Services Limited Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 



## **Chiltern Nursery and Training College** 

## **Contents** 

|Reference and Administrative Details|1|
|---|---|
|Trustees Report|2 to 8|
|Independent Auditors' Report|9 to 12|
|Statement of Financial Activities|13 to 14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17 to 27|





|**Chiltern Nursery and Training College**|**Chiltern Nursery and Training College**|
|---|---|
|**Reference and Administrative Details**||
|**Chairman**|K Hillier|
|**Trustees**|K Hillier|
||C Wakely|
||J Gater|
||C A Kelly|
||D Sandell|
||R Goodwin|
|**Head**|M Wigmore|
|**Nursery Manager**|V Hughes|
|**Finance Manager, Company**|L G Phillips|
|**Secretary and Trustees' Clerk**||
|**Charity Registration Number**|201911|
|**Company Registration Number**|00159730 (England and Wales)|
|**Registered Office**|20 Peppard Road|
||Caversham|
||Reading|
||Berkshire|
||RG4 8JZ|
|**Auditor**|Vale & West Accountancy Services Limited|
||Victoria House|
||26 Queen Victoria Street|
||Reading|
||Berkshire|
||RG1 1TG|
|**Solicitors:**|Blandy & Blandy|
||One Friar Street|
||Reading|
||Berkshire|
||RG1 1DA|
|**Bankers**|Lloyds Bank PLC|
||24 Broad Street|
||Reading|
||RG1 2BT|



Page 1 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

Chiltern Nursery & Training College is a registered charitable company limited by guarantee, incorporated on 17 October 1919 and registered as a Charity on 22 September 1962. 

## **Achievements and performance** 

## **Objectives and aims** 

The objectives of Chiltern Nursery & Training College are the provision of early years care and education and education and training of early years practitioners in accordance with the Memorandum and Articles of Association. 

## **Significant activities** 

The early years care and education objectives are met through the provision of our nursery, which provides high quality care and education for children aged 2 months to 5 years of age. The nursery aims to provide a caring and stimulating environment to meet the needs of each individual child. 

The education and training objectives are met through the provision of a high-quality training programme for early years' practitioners. Trainees receive practical training and assessment whilst working in our day nursery, as well as knowledge-based training and assessment in the classroom. The aim of the training programme is to maximise individuals' potential to allow them to become well-qualified early years' practitioners. 

We provide a family support scheme to support families in the nursery who are experiencing difficulties to enable their children to continue to access the high-quality care that we provide during that period of difficulty. 

In addition, we support other local early years' providers and the local community with both early years expertise and facility use. 

## **Public benefit** 

In following the charity's aims and objectives, the trustees have had regard to the Charity Commission's published guidance in complying with their duty in section 17(5) of the Charities Act 2011 on Public Benefit. 

The provision of education and training of early years practitioners and the provision of early years care and education for children provides an identifiable public benefit which is directly in line with the charity's aims. 

Page 2 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Operational review** 

Chiltern has a positive reputation within the local area and continues to attract new families. The waiting list remains healthy supporting a consistently good level of occupancy. The funding that eligible parent’s access for their children from 9 months old has meant we have seen a slight increase in younger babies attending. Our parent partnership remains very positive with most families taking advantage of and attending the social events we provide throughout the year. Our review rating on our profile page on daynurseries.co.uk has remained at 9.9 for most of the year. We gained an Ofsted rating of ‘Good’ at the latest inspection in August 2024. 

Chiltern has continued to develop and recruit for the Traineeship Programme and has successfully recruited 6 Trainees in 2025. Chiltern is monitored by CACHE/NCFE every 6 months and successfully continues to meet the required standards. The induction program was redevised for September 2025 with the introduction of the NCFE Award in Preparing to Learn. Chiltern continues to ensure internal promotion is considered and has successfully appointed Room Leaders following internal applications. 

Chiltern gained planning permission from Reading Borough Council Planning Dept. for the change of use of the existing building 18 to 1 x residential dwelling, creation of new access to Peppard Road with new railings and gates. This building is currently going to be auctioned to secure a sale as soon as possible. The capital gained from this sale will be used to further develop our outdoor area following the ‘Forest’ theme with the possibility of opening areas up to the local community. Chiltern also has plans to build a purpose-built kitchen for the catering of all meals for the children and continues to hold a ‘5 star’ food rating. 

Over this last year to maintain the sustainability of the nursery building new windows have replaced the old metal crittall windows along with the replacement of wooden fire exit doors to UPVC doors. A flat roof which formed part of a fire escape has been completely replaced. All exposed asbestos soffits have now been covered, and the back of the building has been externally painted. An internal maintenance and decoration program is ongoing. 

The objectives of Chiltern Nursery & Training College are the education and training of early years practitioners and the provision of early years care and education for children in accordance with the Memorandum and Articles of Association. 

Page 3 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Financial review** 

## **Financial results and position** 

Total income for the year, comprising charitable activity income and investment income, amounted to £2,821,119 (2024: £2,562,290). Total outgoing resources were £2,839,720 (2024: £2,620,732), resulting in net expenditure of £18,601 (2024: £58,442). This outcome is consistent with the trustees’ long term financial strategy, which aims to maintain a broadly break even position over time while ensuring the charity continues to meet its charitable objectives and safeguard its ability to meet future commitments. 

The net expenditure comprises: 

- a general fund surplus of £58,250 (2024: £9,620) relating to charitable childcare activities; and 

- a maintenance fund deficit of £73,190 (2024: £68,062), reflecting the cost of property maintenance and repair. 

The deficit on maintenance activities has been met from funds designated by the trustees in prior periods for this purpose. 

Overall, the results demonstrate the charity’s continued ability to generate sufficient income to support its day to day operations while, through careful reserving and the use of designated funds, maintaining its facilities for the long term benefit of its activities. 

The year’s performance also reflects the trustees’ continued focus on maintaining a strong cash position. There was a modest reduction in cash of £18,607, from £549,639 to £531,032, arising from scheduled maintenance expenditure and ongoing investment in the charity’s properties and operations. The trustees remain satisfied that cash reserves continue to provide appropriate resilience against unforeseen events and support the charity’s long term objectives. 

## **Reserves policy** 

The trustees keep the reserves policy under regular review to ensure that reserves are maintained at a level appropriate to the charity’s activities, financial commitments, and risk profile. The aim is to hold sufficient cash to support the short‑ and medium‑term operational needs of the charity and to provide an adequate buffer against unforeseen events. 

The current policy is to maintain free reserves equivalent to between one and three months of staff payroll costs. The trustees consider this range appropriate given the nature of the charity’s operations and its reliance on stable staffing levels. 

Chiltern Nursery and Training College holds total reserves of £1,647,176, comprising £814,837 of functional fixed assets and £560,000 of investment property, resulting in free reserves of £272,339. Of these free reserves, £81,522 has been designated by the trustees for specific future purposes, leaving £190,817 available for general use. 

The level of free reserves at the year end is consistent with the trustees’ stated reserves policy and provides an appropriate level of financial resilience while allowing the charity to continue delivering its objectives effectively. 

Page 4 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Plans for future periods** 

In line with our strategic development plan, the trustees have identified the following priorities for the coming year: 

• Continuation of the nursery refurbishment programme, aimed at further enhancing the learning environment and supporting the delivery of high‑quality care, education and training. This work will ensure that the facilities remain safe, welcoming and well‑equipped to meet the needs of children, families and staff. 

• Assessment of the needs of the local and wider community, with a particular focus on how the charity can continue to strengthen its support for early years care, education and training. This review will help ensure that our services remain responsive, accessible and closely aligned with our charitable objectives. 

## **Structure, governance and management** 

## **Governing document** 

The charitable company was established under a Memorandum of Association, which sets out its objects and powers, and it is governed by its Articles of Association. 

The trustees serve as the governors of Chiltern Nursery and Training College and as the directors of the charitable company. Each trustee guarantees to contribute an amount not exceeding £10 to the assets of the charitable company in the event of it being wound up. 

The board of trustees is responsible for determining the overall strategic direction and general policy of the charity. The day‑to‑day management and operational responsibilities are delegated to the Head and the senior management team. 

## **Recruitment and appointment of new trustees** 

The appointment of new trustees is carried out at the discretion of the board, following a clear and structured selection and recruitment process. Once appointed, trustees undertake a formal induction programme designed to familiarise them with the charity’s governance arrangements, strategic objectives, and operational activities. Trustees are regularly reminded of their duties and responsibilities and participate in ongoing training and development as appropriate to support them in their roles. 

Page 5 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Trustees and officers** 

The trustees serving during the year and since the year end were as follows: 

Trustees: K Hillier C Wakely J Gater C A Kelly A J Lindley (resigned 17 June 2025) D Sandell R Goodwin 

## **Senior management team** 

The trustees were support by the senior management team members as follows: 

Head: M Wigmore 

Nursery Manager: V Hughes 

Finance Manager, Company Secretary and Trustees' Clerk: L G Phillips 

## **Key management remuneration** 

The trustees consider the Board of Directors, who are also the College’s trustees, together with the senior management team, to constitute the key management personnel of the charity. These individuals are responsible for directing, controlling, and overseeing the day‑to‑day operation of the Trust. 

All trustees give their time voluntarily. In accordance with note 9 to the accounts, no trustee received any remuneration or reimbursement of expenses during the year. Details of related party transactions are disclosed in note 21. 

The remuneration of senior staff is reviewed annually by the trustees. Salary increases are normally aligned with the general cost‑of‑living adjustment awarded to all staff. The salaries of senior managers are set and reviewed to ensure they remain competitive and in line with equivalent roles in comparable organisations. This approach ensures that the charity is able to attract and retain individuals with the necessary skills and experience to fulfil these key roles effectively. 

## **Principal risks and uncertainties** 

The trustees regularly review the charity’s activities, with particular attention to major risks and the effectiveness of internal controls designed to mitigate them. Where appropriate, the trustees also consider the use of insurance and other measures to reduce the impact of identified risks. The principal risks and uncertainties facing the charity are as follows: 

Page 6 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Health and Safety and Safeguarding** 

As the charity’s core operations involve the care and education of young children, health, safety and safeguarding remain the foremost areas of risk. CNTC has clearly defined responsibilities across the organisation, and all staff complete mandatory Health and Safety and Safeguarding training. The charity maintains comprehensive policies and procedures, which are regularly reviewed and communicated to staff to ensure consistent understanding and compliance. These arrangements form a key part of the charity’s risk‑management framework and support the safe delivery of childcare and education. 

## **Recruitment and retention of suitably qualified staff and trainees** 

The delivery of high‑quality childcare is heavily dependent on maintaining the appropriate staffing levels to meet statutory ratios and to uphold CNTC’s aspiration to exceed these standards. The wider sector continues to face significant challenges in attracting qualified practitioners and trainees. Any inability to recruit or retain staff could reduce the number of childcare places the charity is able to offer. 

To mitigate this risk, CNTC operates a strong and well‑established training programme that is actively promoted to potential trainees and staff. The charity offers competitive salaries and benefits, reviewed annually, together with a range of wellbeing initiatives to support retention. These measures continue to play an important role in attracting and retaining high‑quality personnel. 

## **Unexpected maintenance requirements** 

Given the age and nature of the charity’s buildings, there is an ongoing risk of unexpected maintenance needs, which could disrupt operations or result in unplanned costs. The trustees continue to invest in the estate to mitigate this risk. During 2024, CNTC undertook substantial works, including the installation of new boilers and significant drainage and guttering improvements, as part of the charity’s planned programme of property maintenance and investment. This proactive approach helps maintain safe, compliant and fit‑for‑purpose facilities. 

Page 7 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Statement of Responsibilities** 

The trustees (who are also the directors of Chiltern Nursery and Training College for the purposes of company law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any 

- material departures disclosed and explained in the financial statements; and 

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Disclosure of information to auditor** 

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. 

16/04/2026 

The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by: 

Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

K Hillier Chairman and trustee 

Page 8 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Opinion** 

We have audited the financial statements of Chiltern Nursery and Training College (the 'charity') for the year ended 31 December 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (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 December 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 auditor 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 original financial statements were 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 auditor’s report 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. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. 

Page 9 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Opinion on other matter 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 and for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Trustees Report and has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report and the . 

We have nothing to report in respect of the following matters where the 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. 

## **Responsibilities of trustees** 

As explained more fully in the (set out on page ), the trustees 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 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. 

## **Auditor 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 auditor’s 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. 

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 non-compliance with laws and regulations, was as follows: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience of the charities sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, Ofsted requirements, food safety regulations, employment and health and safety legislation; 

Page 10 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the company’s financial statements 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. 

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 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 the minutes of meetings of those charged with governance; and 

- enquiring of management as to actual and potential litigation and claims. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

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. 

Page 11 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Use of our report** 

This report is made solely to the charitable company's trustees, 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 charity's trustees those matters we are required to state to them in an auditor’s 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Jason Pyke FCA (Senior Statutory Auditor) For and on behalf of Vale & West Accountancy Services Limited, Statutory Auditor 

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 16/04/2026 Date:............................. 

Page 12 



## **Chiltern Nursery and Training College** 

## **Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Investment income<br>6<br>Total income<br>**Expenditure on:**<br>Charitable activities<br>7<br>Total expenditure<br>Net expenditure<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>17|**Unrestricted**<br>**funds**<br>**£**<br>869<br>2,767,174<br>53,076<br>2,821,119<br>(2,839,720)<br>(2,839,720)<br>(18,601)<br>(18,601)<br>1,665,777<br>1,647,176|**Total**<br>**2025**<br>**£**<br>869<br>2,767,174<br>53,076|
|---|---|---|
|||2,821,119|
|||(2,839,720)|
|||(2,839,720)|
|||(18,601)|
|||(18,601)<br>1,665,777|
|||1,647,176|



The notes on pages 17 to 27 form an integral part of these financial statements. Page 13 



## **Chiltern Nursery and Training College** 

## **Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Investment income<br>6<br>Total income<br>**Expenditure on:**<br>Charitable activities<br>7<br>Total expenditure<br>Net expenditure<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>17|**Unrestricted**<br>**funds**<br>**£**<br>462<br>2,508,934<br>52,894<br>2,562,290<br>(2,620,732)<br>(2,620,732)<br>(58,442)<br>(58,442)<br>1,724,219<br>1,665,777|**Total**<br>**2024**<br>**£**<br>462<br>2,508,934<br>52,894|
|---|---|---|
|||2,562,290|
|||(2,620,732)|
|||(2,620,732)|
|||(58,442)|
|||(58,442)<br>1,724,219|
|||1,665,777|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17. 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 14 



## **Chiltern Nursery and Training College** 

## **(Registration number: 00159730) Balance Sheet as at 31 December 2025** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>13<br>Investments<br>14<br>**Current assets**<br>Debtors<br>15<br>Cash at bank and in hand<br>**Creditors: Amounts falling due within one year**<br>16<br>**Net current assets**<br>**Net assets**<br>**Funds of the charity:**<br>**Unrestricted income funds**<br>Unrestricted funds<br>**Total funds**<br>17|**31 December**<br>**2025**<br>**£**<br>814,837<br>560,000<br>1,374,837<br>63,994<br>531,032<br>595,026<br>(322,687)<br>272,339<br>1,647,176<br>1,647,176<br>1,647,176|**31 December**<br>**2024**<br>**£**<br>780,098<br>560,000|
|---|---|---|
|||1,340,098|
|||56,260<br>549,639|
|||605,899<br>(280,220)|
|||325,679|
|||1,665,777|
|||1,665,777|
|||1,665,777|



The financial statements on pages 13 to 27 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by: 16/04/2026 

Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

K Hillier Chairman and trustee 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 15 



## **Chiltern Nursery and Training College** 

## **Statement of Cash Flows for the Year Ended 31 December 2025** 

|**Note**<br>**Cash flows from operating activities**<br>Net cash expenditure<br>**Adjustments to cash flows from non-cash items**<br>Depreciation<br>Investment income<br>6<br>**Working capital adjustments**<br>Increase in debtors<br>15<br>(Decrease)/increase in creditors<br>16<br>Increase in deferred income<br>Net cash flows from operating activities<br>**Cash flows from investing activities**<br>Interest receivable and similar income<br>6<br>Purchase of tangible fixed assets<br>13<br>Net cash flows from investing activities<br>Net decrease in cash and cash equivalents<br>Cash and cash equivalents at 1 January<br>Cash and cash equivalents at 31 December|**31 December**<br>**2025**<br>**£**<br>(18,601)<br>77,031<br>(53,076)<br>5,354<br>(7,734)<br>(19,239)<br>61,706<br>40,087<br>53,076<br>(111,770)<br>(58,694)<br>(18,607)<br>549,639<br>531,032|**31 December**<br>**2024**<br>**£**<br>(58,442)<br>75,310<br>(52,894)|
|---|---|---|
|||(36,026)<br>(22,167)<br>26,625<br>75,254|
|||43,686|
|||52,894<br>(203,866)|
|||(150,972)|
|||(107,286)<br>656,925|
|||549,639|



All of the cash flows are derived from continuing operations during the above two periods. 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 16 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **1 Charity status** 

The charity is limited by guarentee, domiciled and incorporated in England and Wales , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

The address of its registered office is: 20 Peppard Road Caversham Reading Berkshire RG4 8JZ 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Basis of preparation** 

Chiltern Nursery and Training College 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 notes. 

The financial statements are presented in Pound Sterling and are rounded to the nearest pound. 

## **Going concern** 

After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees' Responsibilities. 

## **Income and endowments** 

All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

Nursery fees and use of premises are accounted for in the period in which the service is provided. All fees are stated after deducting allowances granted by the college. 

Page 17 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of obligation can be measured reliably. Certain expenditure is apportioned to categories based on the estimated amount attributable to that activity in the year. The irrecoverable element of VAT is included with the expense to which it relates. 

Governance costs comprise the costs of running the charitable company, including strategic planning for its future development, external audit, any legal advice for directors, and all costs of complying with constitutional and statutory requirements, such as the costs of board and committee meetings and of preparing statutory accounts and complying with public accountability. 

Support costs comprise costs incurred centrally in support of the college. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

## **Government grants** 

Government grants are recognised in the income and expenditure account so as to match them with expenditure they are intended to contribute. 

## **Taxation** 

The company is a registered charity, and as such is entitled to tax exemptions on income and gains, properly applied for its charitable purposes. 

## **Tangible fixed assets** 

Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

**Asset class Depreciation method and rate** Freehold property 2% on cost Property improvements 10% on cost Plant and machinery 33.3% on cost and 50% on cost 

## **Investment properties** 

Investment property is stated at market value in accordance with FRS 102. The valuation is reviewed annually by the trustees to ensure that the carrying value reflects current market conditions. In line with FRS 102, no depreciation is charged on investment property, as it is held to earn rentals or for capital appreciation rather than for use in the charity’s operations. 

Page 18 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Fund structure** 

Unrestricted funds comprise income that is available to be spent at the discretion of the trustees in furtherance of the charity’s objectives. These funds are not subject to specific restrictions imposed by donors. 

Unrestricted funds include general funds and designated funds: 

- General funds represent the free reserves of the charity and are available for general use. 

- Designated funds represent amounts set aside by the trustees, from within unrestricted general funds, for specific future purposes or projects. These designations may be amended or released by the trustees as circumstances change. 

Further information on the nature and purpose of each fund is provided in the notes to the financial statements. 

## **Pensions and other post retirement obligations** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the scheme are recognised as an expense in the Statement of Financial Activities in the period to which they relate. The charitable company has no further liability beyond these contributions. 

## **Financial instruments** 

Financial assets: 

Trade and other debtors which is receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. 

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities. 

Financial liabilities: 

Financial instruments are classified as liabilities according to the substance of the contractual arrangements entered into. Trade and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled. 

Where the arrangements with a creditor constitutes a financing transaction, the creditor is initially measured at the present value of future payments discounted at a market rate of interest for a similar instrument and subsequently measured at amortised cost. 

## Borrowings: 

Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using effective interest method, interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 

Page 19 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **3 Critical accounting judgements and key sources of estimation uncertainty** 

In applying the accounting policies set out in note 2, the trustees must make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities. These estimates are based on historical experience and other relevant factors, and actual results may differ from them. 

Estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions are recognised in the period of the change and, where applicable, in future periods. 

The valuation of investment property is the key source of estimation uncertainty. Investment property is carried at fair value, based on valuations performed by independent professional valuers with appropriate expertise. The trustees review the valuation annually and update it as necessary, taking account of advice received from the valuers. 

## **4 Income from donations** 

|Parent fund raising<br>**5**<br>**Income from charitable activities**<br>Local authority grant funding<br>Other grant funding<br>Parent contributions|**2025**<br>**£**<br>869<br>869<br>**Total**<br>**2025**<br>**£**<br>829,702<br>9,599<br>1,927,873<br>2,767,174|**2024**<br>**£**<br>452|
|---|---|---|
|||452|
|||**Total**<br>**2024**<br>**£**<br>524,515<br>6,300<br>1,978,119|
|||2,508,934|



Charitable activity income arises from the provision of early years care and education, together with the education and training of early years practitioners. These activities form the core charitable purposes of the organisation and represent its principal sources of operational income. 

## **6 Investment income** 

|Interest receivable<br>Income from rents|**Total**<br>**2025**<br>**£**<br>5,076<br>48,000<br>53,076|**Total**<br>**2024**<br>**£**<br>6,394<br>46,500|
|---|---|---|
|||52,894|



Page 20 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **7 Expenditure on charitable activities** 

|**Note**<br>Direct costs<br>Staff costs<br>Support costs<br>8<br>Depreciation<br>Governance costs<br>8|**Unrestricted funds**<br>**Designated**<br>**£**<br>**General**<br>**£**<br>4,530<br>348,405<br>-<br>1,946,855<br>73,190<br>378,958<br>-<br>77,031<br>-<br>10,751<br>77,720<br>2,762,000|**Total**<br>**2025**<br>**£**<br>352,935<br>1,946,855<br>452,148<br>77,031<br>10,751<br>2,839,720|**Total**<br>**2024**<br>**£**<br>345,680<br>1,781,178<br>409,562<br>75,310<br>9,002|
|---|---|---|---|
||||2,620,732|



## **8 Analysis of governance and support costs** 

|**Support costs**<br>Administration<br>Premises<br>Finance costs<br>**Governance costs**<br>Auditors remuneration<br>Auditors remuneration for non-audit services|**2025**<br>**£**<br>278,624<br>167,756<br>337<br>446,717<br>**2025**<br>**£**<br>7,427<br>3,324<br>10,751|**2024**<br>**£**<br>249,419<br>160,256<br>167|
|---|---|---|
|||409,842|
|||**2024**<br>**£**<br>6,204<br>2,784|
|||8,988|



## **9 Net incoming/outgoing resources** 

Net outgoing resources for the year include: 

|Audit fees<br>Other non-audit services<br>Depreciation of fixed assets|**2025**<br>**£**<br>7,427<br>3,324<br>77,031|**2024**<br>**£**<br>6,204<br>2,798<br>75,310|
|---|---|---|



Page 21 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **10 Trustees remuneration, expenses and indemnity insurance** 

## **Remuneration** 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

## **Expenses** 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 

## **Trustee indemnity insurance** 

The charity maintains indemnity insurance for the benefit of its trustees in respect of their role in governing the charity. The cover is provided as part of the college’s overall insurance policy and protects the trustees against claims arising from the proper performance of their duties. 

No premiums are paid directly by the trustees, and no reimbursement from trustees has been required during the year. 

## **11 Staff costs** 

The aggregate payroll costs were as follows: 

|**Staff costs during the year were:**<br>Wages and salaries<br>Social security costs<br>Pension costs|**2025**<br>**£**<br>1,764,006<br>150,198<br>32,651<br>1,946,855|**2024**<br>**£**<br>1,631,442<br>118,481<br>31,255|
|---|---|---|
|||1,781,178|



The average monthly number of persons (including senior management / leadership team) employed by the charity during the year was as follows: 

|Child welfare and teaching staff<br>Others|**2025**<br>**No**<br>72<br>7<br>79|**2024**<br>**No**<br>72<br>7|
|---|---|---|
|||79|



The number of employees whose emoluments fell within the following bands was: 

|£80,001 - £90,000|**2025**<br>**No**<br>1|**2024**<br>**No**<br>1|
|---|---|---|



## **12 Taxation** 

The charity is a registered charity and is therefore exempt from taxation. 

Page 22 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **13 Tangible fixed assets** 

|**Cost**<br>At 1 January 2025<br>Additions<br>At 31 December 2025<br>**Depreciation**<br>At 1 January 2025<br>Charge for the year<br>At 31 December 2025<br>**Net book value**<br>At 31 December 2025<br>At 31 December 2024<br>**14 Fixed asset investments**<br>Investment properties|**Land and**<br>**buildings**<br>**£**<br>951,703<br>-<br>951,703<br>482,196<br>12,689<br>494,885<br>456,818<br>469,507|**Property**<br>**Improvements**<br>**£**<br>**Furniture and**<br>**equipment**<br>**£**<br>716,829<br>159,865<br>103,660<br>8,110<br>820,489<br>167,975<br>449,173<br>116,930<br>36,333<br>28,009<br>485,506<br>144,939<br>334,983<br>23,036<br>267,656<br>42,935<br>**31 December**<br>**2025**<br>**£**<br>560,000|**Furniture and**<br>**equipment**<br>**£**<br>159,865<br>8,110||**Total**<br>**£**<br>1,828,397<br>111,770<br>1,940,167<br>1,048,299<br>77,031<br>1,125,330<br>814,837<br>780,098<br>**31 December**<br>**2024**<br>**£**<br>560,000|
|---|---|---|---|---|---|
|||820,489|167,975|||
|||449,173<br>36,333|116,930<br>28,009|||
|||485,506|144,939|||
|||334,983|23,036|||
|||267,656|42,935|||
|||||||



## **Investment properties** 

The investment property was independently valued on an open market basis on 14 April 2021 by Dunster & Morton, a firm regulated by the Royal Institution of Chartered Surveyors (RICS). The trustees have reviewed this valuation and consider it to remain a reasonable and appropriate estimate of fair value at 31 December 2025, taking account of current market conditions and advice received. 

If the investment property had not been revalued it would have been included at the historical cost of £108,570. 

Page 23 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **15 Debtors** 

|**15 Debtors**|||
|---|---|---|
|Trade debtors<br>Prepayments|**31 December**<br>**2025**<br>**£**<br>8,171<br>55,823<br>63,994|**31 December**<br>**2024**<br>**£**<br>1,982<br>54,278|
|||56,260|



## **16 Creditors: amounts falling due within one year** 

|**16 Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors<br>Other taxation and social security<br>Other creditors<br>Accruals<br>Deferred income|**31 December**<br>**2025**<br>**£**<br>47,999<br>34,188<br>5,145<br>25,593<br>209,762<br>322,687|**31 December**<br>**2024**<br>**£**<br>75,443<br>27,814<br>5,517<br>23,390<br>148,056|
|||280,220|



Page 24 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **17 Funds** 

|**Unrestricted funds**<br>**_General_**<br>General fund - Other<br>Revaluation Reserve<br>**_Designated_**<br>Maintenance Fund<br>Parental Fundraising<br>Public Benefit Fund<br>**Total funds**<br>**Unrestricted funds**<br>**_General_**<br>Other<br>Revaluation Reserve<br>**_Designated_**<br>Maintenance Fund<br>Parental Fundraising<br>Public Benefit Fund<br>**Total funds**|**Balance at**<br>**1 January**<br>**2025**<br>**£**<br>1,037,125<br>451,430<br>1,488,555<br>160,305<br>2,241<br>14,676<br>177,222<br>1,665,777<br>**Balance at**<br>**1 January**<br>**2024**<br>**£**<br>1,102,651<br>451,430<br>1,554,081<br>152,000<br>2,291<br>15,847<br>170,138<br>1,724,219|**Incoming**<br>**resources**<br>**£**<br>2,820,250<br>-<br>2,820,250<br>-<br>869<br>-<br>869<br>2,821,119<br>**Incoming**<br>**resources**<br>**£**<br>2,561,828<br>-<br>2,561,828<br>-<br>462<br>-<br>462<br>2,562,290|**Resources**<br>**expended**<br>**£**<br>(2,762,000)<br>-<br>(2,762,000)<br>(73,190)<br>-<br>(4,530)<br>(77,720)<br>(2,839,720)<br>**Resources**<br>**expended**<br>**£**<br>(2,552,208)<br>-<br>(2,552,208)<br>(64,441)<br>(512)<br>(3,571)<br>(68,524)<br>(2,620,732)|**Transfers**<br>**£**<br>18,849<br>-<br>18,849<br>(21,249)<br>-<br>2,400<br>(18,849)<br>-<br>**Transfers**<br>**£**<br>(75,146)<br>-<br>(75,146)<br>72,746<br>-<br>2,400<br>75,146<br>-|**Balance at**<br>**31 December**<br>**2025**<br>**£**<br>1,114,224<br>451,430|
|---|---|---|---|---|---|
||||||1,565,654|
||||||65,866<br>3,110<br>12,546|
||||||81,522|
||||||1,647,176|
||||||**Balance at**<br>**31 December**<br>**2024**<br>**£**<br>1,037,125<br>451,430|
||||||1,488,555|
||||||160,305<br>2,241<br>14,676|
||||||177,222|
||||||1,665,777|



Page 25 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Structure, Purpose and Movement of Funds** 

## **General Funds** 

General funds represent unrestricted income available for use in furtherance of the charity’s objectives. The General Fund - Revaluation Reserve records the unrealised gains arising from the revaluation of the charity’s investment property. 

## **Designated Funds** 

Designated funds comprise unrestricted amounts that the trustees have set aside for specific purposes, as follows: 

- Maintenance Fund - funds earmarked for future property maintenance and repair works. 

• Public Benefit Fund - funds designated to provide financial assistance to tutorial students and nursery parents in line with the charity’s public benefit objectives. 

- Parental Fundraising - funds raised by parents for the purchase of specific items identified by the charity. 

## **Transfers Between Funds** 

During the year, the trustees approved the following transfers: 

- £21,249 was released from Designated Maintenance Fund and transferred back to general reserves to align the maintenance fund with the anticipated future maintenance requirements. 

• The Public Benefit Fund received £2,400 from general reserves to support bursaries for students and parents in line with the charity’s objectives. 

- Fixed assets purchased from the Parental Fundraising designated fund amounted to £nil in the year. In line 

- with policy, the value of assets acquired from this fund has been transferred to the General Fund. 

## **18 Analysis of unrestricted fund net assets** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets<br>Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets|**Unrestricted funds**<br>**General**<br>**£**<br>**Designated**<br>**£**<br>814,837<br>-<br>560,000<br>-<br>449,510<br>81,522<br>(322,687)<br>-<br>1,501,660<br>81,522<br>**Unrestricted funds**<br>**General**<br>**£**<br>**Designated**<br>**£**<br>780,098<br>-<br>560,000<br>-<br>428,677<br>177,222<br>(280,220)<br>-<br>1,488,555<br>177,222|**Total funds at**<br>**31 December**<br>**2025**<br>**£**<br>814,837<br>560,000<br>531,032<br>(322,687)|
|---|---|---|
|||1,583,182|
|||**Total funds at**<br>**31 December**<br>**2024**<br>**£**<br>780,098<br>560,000<br>605,899<br>(280,220)|
|||1,665,777|



Page 26 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **19 Commitments** 

## **Capital commitments** 

This capital commitment is in respect of an extension to the car park carried out after the year end. The total amount contracted for but not provided in the financial statements was £Nil (2024 - £98,000). 

## **20 Related party transactions** 

During the year the charity made the following related party transactions: 

## **Blandy & Blandy LLP** 

One of the trustees, J.B. Gater, is also a partner in Blandy & Blandy LLP, a local firm of solicitors. During the year, Blandy & Blandy LLP provided legal services to the charitable company, with fees for the year totalling £6,084 (2024: £371). At the balance sheet date the amount due to/from Blandy & Blandy LLP was £Nil (2024 - £Nil). 

All transactions with Blandy & Blandy LLP were conducted on an arm’s‑length basis, and the trustee concerned took no part in any decisions relating to the engagement of the firm or the approval of invoices. 

## **21 FRC Ethical Standards relevant circumstances** 

In accordance with the provisions of the Financial Reporting Council’s (FRC) Ethical Standard applicable to small entities, the charity has engaged its auditors to assist with the preparation of the financial statements. The trustees are satisfied that this does not compromise the auditor’s independence or objectivity. 

Page 27 



## **Chiltern Nursery and Training College** 

## **Detailed Statement of Financial Activities for the Year Ended 31 December 2025** 

|**Income and Endowments from:**<br>Donations and legacies<br>Charitable activities<br>Investment income<br>Total income<br>**Expenditure on:**<br>Charitable activities<br>Total expenditure<br>Net expenditure<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward|**Total**<br>**2025**<br>**£**<br>869<br>2,767,174<br>53,076<br>2,821,119<br>(2,839,720)<br>(2,839,720)<br>(18,601)<br>(18,601)<br>1,665,777<br>1,647,176|**Total**<br>**2024**<br>**£**<br>462<br>2,508,934<br>52,894|
|---|---|---|
|||2,562,290|
|||(2,620,732)|
|||(2,620,732)|
|||(58,442)|
|||(58,442)<br>1,724,219|
|||1,665,777|



This page does not form part of the statutory financial statements. Page 28 



## **Chiltern Nursery and Training College** 

## **Detailed Statement of Financial Activities for the Year Ended 31 December 2025** 

|**_Donations and legacies_**<br>Appeals and donations<br>**_Charitable activities income_**<br>Local authority grant funding<br>Other grant funding<br>Parent contributions<br>**_Investment income_**<br>Income from investment properties<br>Interest on cash deposits<br>**_Charitable activities expenditure_**<br>Local authority grant funding<br>Costs of fundraising events<br>Nursery costs<br>Trade subscriptions<br>Premises costs<br>Miscellaneous expenses<br>Wages and salaries<br>Staff NIC (Employers)<br>Staff pensions (Defined contribution) - pension scheme 1<br>Catering costs<br>Maintenance special projects<br>General maintenance<br>Telephone and fax<br>Office expenses<br>Sundry expenses<br>Cleaning<br>Advertising<br>Legal and professional fees<br>Bank charges<br>Depreciation of other tangible<br>The audit of the charity's annual accounts<br>Auditors' remuneration - non audit work|**Total**<br>**2025**<br>**£**<br>869<br>869<br>829,702<br>9,599<br>1,927,873<br>2,767,174<br>48,000<br>5,076<br>53,076<br>(4,530)<br>-<br>(48,280)<br>(24,930)<br>(167,756)<br>(9,768)<br>(1,764,006)<br>(150,198)<br>(32,651)<br>(300,125)<br>(73,190)<br>(29,559)<br>(6,151)<br>(17,329)<br>(9,048)<br>(104,425)<br>(2,285)<br>(7,368)<br>(339)<br>(77,031)<br>(7,427)<br>(3,324)<br>(2,839,720)|**Total**<br>**2024**<br>**£**<br>462|
|---|---|---|
|||462|
|||524,515<br>6,300<br>1,978,119|
|||2,508,934|
|||46,500<br>6,394|
|||52,894|
|||(3,571)<br>(512)<br>(50,271)<br>(25,072)<br>(160,256)<br>(19,574)<br>(1,631,442)<br>(118,481)<br>(31,255)<br>(291,326)<br>(64,441)<br>(22,228)<br>(6,085)<br>(15,653)<br>(2,420)<br>(93,416)<br>(3,824)<br>3,574<br>(167)<br>(75,310)<br>(6,204)<br>(2,798)|
|||(2,620,732)|



This page does not form part of the statutory financial statements. Page 29 



Company registration number: 00159730 Charity registration number: 201911 

## Chiltern Nursery and Training College 

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 December 2025 

Vale & West Accountancy Services Limited Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 



## **Chiltern Nursery and Training College** 

## **Contents** 

|Reference and Administrative Details|1|
|---|---|
|Trustees Report|2 to 8|
|Independent Auditors' Report|9 to 12|
|Statement of Financial Activities|13 to 14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17 to 27|





|**Chiltern Nursery and Training College**|**Chiltern Nursery and Training College**|
|---|---|
|**Reference and Administrative Details**||
|**Chairman**|K Hillier|
|**Trustees**|K Hillier|
||C Wakely|
||J Gater|
||C A Kelly|
||D Sandell|
||R Goodwin|
|**Head**|M Wigmore|
|**Nursery Manager**|V Hughes|
|**Finance Manager, Company**|L G Phillips|
|**Secretary and Trustees' Clerk**||
|**Charity Registration Number**|201911|
|**Company Registration Number**|00159730 (England and Wales)|
|**Registered Office**|20 Peppard Road|
||Caversham|
||Reading|
||Berkshire|
||RG4 8JZ|
|**Auditor**|Vale & West Accountancy Services Limited|
||Victoria House|
||26 Queen Victoria Street|
||Reading|
||Berkshire|
||RG1 1TG|
|**Solicitors:**|Blandy & Blandy|
||One Friar Street|
||Reading|
||Berkshire|
||RG1 1DA|
|**Bankers**|Lloyds Bank PLC|
||24 Broad Street|
||Reading|
||RG1 2BT|



Page 1 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 31 December 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). 

Chiltern Nursery & Training College is a registered charitable company limited by guarantee, incorporated on 17 October 1919 and registered as a Charity on 22 September 1962. 

## **Achievements and performance** 

## **Objectives and aims** 

The objectives of Chiltern Nursery & Training College are the provision of early years care and education and education and training of early years practitioners in accordance with the Memorandum and Articles of Association. 

## **Significant activities** 

The early years care and education objectives are met through the provision of our nursery, which provides high quality care and education for children aged 2 months to 5 years of age. The nursery aims to provide a caring and stimulating environment to meet the needs of each individual child. 

The education and training objectives are met through the provision of a high-quality training programme for early years' practitioners. Trainees receive practical training and assessment whilst working in our day nursery, as well as knowledge-based training and assessment in the classroom. The aim of the training programme is to maximise individuals' potential to allow them to become well-qualified early years' practitioners. 

We provide a family support scheme to support families in the nursery who are experiencing difficulties to enable their children to continue to access the high-quality care that we provide during that period of difficulty. 

In addition, we support other local early years' providers and the local community with both early years expertise and facility use. 

## **Public benefit** 

In following the charity's aims and objectives, the trustees have had regard to the Charity Commission's published guidance in complying with their duty in section 17(5) of the Charities Act 2011 on Public Benefit. 

The provision of education and training of early years practitioners and the provision of early years care and education for children provides an identifiable public benefit which is directly in line with the charity's aims. 

Page 2 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Operational review** 

Chiltern has a positive reputation within the local area and continues to attract new families. The waiting list remains healthy supporting a consistently good level of occupancy. The funding that eligible parent’s access for their children from 9 months old has meant we have seen a slight increase in younger babies attending. Our parent partnership remains very positive with most families taking advantage of and attending the social events we provide throughout the year. Our review rating on our profile page on daynurseries.co.uk has remained at 9.9 for most of the year. We gained an Ofsted rating of ‘Good’ at the latest inspection in August 2024. 

Chiltern has continued to develop and recruit for the Traineeship Programme and has successfully recruited 6 Trainees in 2025. Chiltern is monitored by CACHE/NCFE every 6 months and successfully continues to meet the required standards. The induction program was redevised for September 2025 with the introduction of the NCFE Award in Preparing to Learn. Chiltern continues to ensure internal promotion is considered and has successfully appointed Room Leaders following internal applications. 

Chiltern gained planning permission from Reading Borough Council Planning Dept. for the change of use of the existing building 18 to 1 x residential dwelling, creation of new access to Peppard Road with new railings and gates. This building is currently going to be auctioned to secure a sale as soon as possible. The capital gained from this sale will be used to further develop our outdoor area following the ‘Forest’ theme with the possibility of opening areas up to the local community. Chiltern also has plans to build a purpose-built kitchen for the catering of all meals for the children and continues to hold a ‘5 star’ food rating. 

Over this last year to maintain the sustainability of the nursery building new windows have replaced the old metal crittall windows along with the replacement of wooden fire exit doors to UPVC doors. A flat roof which formed part of a fire escape has been completely replaced. All exposed asbestos soffits have now been covered, and the back of the building has been externally painted. An internal maintenance and decoration program is ongoing. 

The objectives of Chiltern Nursery & Training College are the education and training of early years practitioners and the provision of early years care and education for children in accordance with the Memorandum and Articles of Association. 

Page 3 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Financial review** 

## **Financial results and position** 

Total income for the year, comprising charitable activity income and investment income, amounted to £2,821,119 (2024: £2,562,290). Total outgoing resources were £2,839,720 (2024: £2,620,732), resulting in net expenditure of £18,601 (2024: £58,442). This outcome is consistent with the trustees’ long term financial strategy, which aims to maintain a broadly break even position over time while ensuring the charity continues to meet its charitable objectives and safeguard its ability to meet future commitments. 

The net expenditure comprises: 

- a general fund surplus of £58,250 (2024: £9,620) relating to charitable childcare activities; and 

- a maintenance fund deficit of £73,190 (2024: £68,062), reflecting the cost of property maintenance and repair. 

The deficit on maintenance activities has been met from funds designated by the trustees in prior periods for this purpose. 

Overall, the results demonstrate the charity’s continued ability to generate sufficient income to support its day to day operations while, through careful reserving and the use of designated funds, maintaining its facilities for the long term benefit of its activities. 

The year’s performance also reflects the trustees’ continued focus on maintaining a strong cash position. There was a modest reduction in cash of £18,607, from £549,639 to £531,032, arising from scheduled maintenance expenditure and ongoing investment in the charity’s properties and operations. The trustees remain satisfied that cash reserves continue to provide appropriate resilience against unforeseen events and support the charity’s long term objectives. 

## **Reserves policy** 

The trustees keep the reserves policy under regular review to ensure that reserves are maintained at a level appropriate to the charity’s activities, financial commitments, and risk profile. The aim is to hold sufficient cash to support the short‑ and medium‑term operational needs of the charity and to provide an adequate buffer against unforeseen events. 

The current policy is to maintain free reserves equivalent to between one and three months of staff payroll costs. The trustees consider this range appropriate given the nature of the charity’s operations and its reliance on stable staffing levels. 

Chiltern Nursery and Training College holds total reserves of £1,647,176, comprising £814,837 of functional fixed assets and £560,000 of investment property, resulting in free reserves of £272,339. Of these free reserves, £81,522 has been designated by the trustees for specific future purposes, leaving £190,817 available for general use. 

The level of free reserves at the year end is consistent with the trustees’ stated reserves policy and provides an appropriate level of financial resilience while allowing the charity to continue delivering its objectives effectively. 

Page 4 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Plans for future periods** 

In line with our strategic development plan, the trustees have identified the following priorities for the coming year: 

• Continuation of the nursery refurbishment programme, aimed at further enhancing the learning environment and supporting the delivery of high‑quality care, education and training. This work will ensure that the facilities remain safe, welcoming and well‑equipped to meet the needs of children, families and staff. 

• Assessment of the needs of the local and wider community, with a particular focus on how the charity can continue to strengthen its support for early years care, education and training. This review will help ensure that our services remain responsive, accessible and closely aligned with our charitable objectives. 

## **Structure, governance and management** 

## **Governing document** 

The charitable company was established under a Memorandum of Association, which sets out its objects and powers, and it is governed by its Articles of Association. 

The trustees serve as the governors of Chiltern Nursery and Training College and as the directors of the charitable company. Each trustee guarantees to contribute an amount not exceeding £10 to the assets of the charitable company in the event of it being wound up. 

The board of trustees is responsible for determining the overall strategic direction and general policy of the charity. The day‑to‑day management and operational responsibilities are delegated to the Head and the senior management team. 

## **Recruitment and appointment of new trustees** 

The appointment of new trustees is carried out at the discretion of the board, following a clear and structured selection and recruitment process. Once appointed, trustees undertake a formal induction programme designed to familiarise them with the charity’s governance arrangements, strategic objectives, and operational activities. Trustees are regularly reminded of their duties and responsibilities and participate in ongoing training and development as appropriate to support them in their roles. 

Page 5 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Trustees and officers** 

The trustees serving during the year and since the year end were as follows: 

Trustees: K Hillier C Wakely J Gater C A Kelly A J Lindley (resigned 17 June 2025) D Sandell R Goodwin 

## **Senior management team** 

The trustees were support by the senior management team members as follows: 

Head: M Wigmore 

Nursery Manager: V Hughes 

Finance Manager, Company Secretary and Trustees' Clerk: L G Phillips 

## **Key management remuneration** 

The trustees consider the Board of Directors, who are also the College’s trustees, together with the senior management team, to constitute the key management personnel of the charity. These individuals are responsible for directing, controlling, and overseeing the day‑to‑day operation of the Trust. 

All trustees give their time voluntarily. In accordance with note 9 to the accounts, no trustee received any remuneration or reimbursement of expenses during the year. Details of related party transactions are disclosed in note 21. 

The remuneration of senior staff is reviewed annually by the trustees. Salary increases are normally aligned with the general cost‑of‑living adjustment awarded to all staff. The salaries of senior managers are set and reviewed to ensure they remain competitive and in line with equivalent roles in comparable organisations. This approach ensures that the charity is able to attract and retain individuals with the necessary skills and experience to fulfil these key roles effectively. 

## **Principal risks and uncertainties** 

The trustees regularly review the charity’s activities, with particular attention to major risks and the effectiveness of internal controls designed to mitigate them. Where appropriate, the trustees also consider the use of insurance and other measures to reduce the impact of identified risks. The principal risks and uncertainties facing the charity are as follows: 

Page 6 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Health and Safety and Safeguarding** 

As the charity’s core operations involve the care and education of young children, health, safety and safeguarding remain the foremost areas of risk. CNTC has clearly defined responsibilities across the organisation, and all staff complete mandatory Health and Safety and Safeguarding training. The charity maintains comprehensive policies and procedures, which are regularly reviewed and communicated to staff to ensure consistent understanding and compliance. These arrangements form a key part of the charity’s risk‑management framework and support the safe delivery of childcare and education. 

## **Recruitment and retention of suitably qualified staff and trainees** 

The delivery of high‑quality childcare is heavily dependent on maintaining the appropriate staffing levels to meet statutory ratios and to uphold CNTC’s aspiration to exceed these standards. The wider sector continues to face significant challenges in attracting qualified practitioners and trainees. Any inability to recruit or retain staff could reduce the number of childcare places the charity is able to offer. 

To mitigate this risk, CNTC operates a strong and well‑established training programme that is actively promoted to potential trainees and staff. The charity offers competitive salaries and benefits, reviewed annually, together with a range of wellbeing initiatives to support retention. These measures continue to play an important role in attracting and retaining high‑quality personnel. 

## **Unexpected maintenance requirements** 

Given the age and nature of the charity’s buildings, there is an ongoing risk of unexpected maintenance needs, which could disrupt operations or result in unplanned costs. The trustees continue to invest in the estate to mitigate this risk. During 2024, CNTC undertook substantial works, including the installation of new boilers and significant drainage and guttering improvements, as part of the charity’s planned programme of property maintenance and investment. This proactive approach helps maintain safe, compliant and fit‑for‑purpose facilities. 

Page 7 



## **Chiltern Nursery and Training College** 

## **Trustees Report for the Year Ended 31 December 2025** 

## **Statement of Responsibilities** 

The trustees (who are also the directors of Chiltern Nursery and Training College for the purposes of company law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". 

Company law requires the trustees to prepare financial statements for each financial year. 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 charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any 

- material departures disclosed and explained in the financial statements; and 

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Disclosure of information to auditor** 

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. 

16/04/2026 

The strategic report was approved by the trustees of the charity on .................... and signed on its behalf by: 

Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

K Hillier 

Chairman and trustee 

Page 8 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Opinion** 

We have audited the financial statements of Chiltern Nursery and Training College (the 'charity') for the year ended 31 December 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, 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 United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (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 December 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 auditor 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 original financial statements were 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 auditor’s report 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. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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. 

Page 9 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Opinion on other matter 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 and for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Trustees Report and has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees Report and the . 

We have nothing to report in respect of the following matters where the 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. 

## **Responsibilities of trustees** 

As explained more fully in the (set out on page ), the trustees 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 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. 

## **Auditor 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 auditor’s 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. 

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 non-compliance with laws and regulations, was as follows: 

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; 

- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our knowledge and experience of the charities sector; 

- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, Charities Act 2011, Ofsted requirements, food safety regulations, employment and health and safety legislation; 

Page 10 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. 

We assessed the susceptibility of the company’s financial statements 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. 

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 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 the minutes of meetings of those charged with governance; and 

- enquiring of management as to actual and potential litigation and claims. 

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

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. 

Page 11 



## **Chiltern Nursery and Training College** 

## **Independent Auditor's Report to the Members of Chiltern Nursery and Training College** 

## **Use of our report** 

This report is made solely to the charitable company's trustees, 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 charity's trustees those matters we are required to state to them in an auditor’s 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed. 


Jason Pyke FCA (Senior Statutory Auditor) For and on behalf of Vale & West Accountancy Services Limited, Statutory Auditor 

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG 16/04/2026 Date:............................. 

Page 12 



## **Chiltern Nursery and Training College** 

## **Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Investment income<br>6<br>Total income<br>**Expenditure on:**<br>Charitable activities<br>7<br>Total expenditure<br>Net expenditure<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>17|**Unrestricted**<br>**funds**<br>**£**<br>869<br>2,767,174<br>53,076<br>2,821,119<br>(2,839,720)<br>(2,839,720)<br>(18,601)<br>(18,601)<br>1,665,777<br>1,647,176|**Total**<br>**2025**<br>**£**<br>869<br>2,767,174<br>53,076|
|---|---|---|
|||2,821,119|
|||(2,839,720)|
|||(2,839,720)|
|||(18,601)|
|||(18,601)<br>1,665,777|
|||1,647,176|



The notes on pages 17 to 27 form an integral part of these financial statements. Page 13 



## **Chiltern Nursery and Training College** 

## **Statement of Financial Activities for the Year Ended 31 December 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)** 

|**Note**<br>**Income and Endowments from:**<br>Donations and legacies<br>4<br>Charitable activities<br>5<br>Investment income<br>6<br>Total income<br>**Expenditure on:**<br>Charitable activities<br>7<br>Total expenditure<br>Net expenditure<br>Net movement in funds<br>**Reconciliation of funds**<br>Total funds brought forward<br>Total funds carried forward<br>17|**Unrestricted**<br>**funds**<br>**£**<br>462<br>2,508,934<br>52,894<br>2,562,290<br>(2,620,732)<br>(2,620,732)<br>(58,442)<br>(58,442)<br>1,724,219<br>1,665,777|**Total**<br>**2024**<br>**£**<br>462<br>2,508,934<br>52,894|
|---|---|---|
|||2,562,290|
|||(2,620,732)|
|||(2,620,732)|
|||(58,442)|
|||(58,442)<br>1,724,219|
|||1,665,777|



All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17. 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 14 



## **Chiltern Nursery and Training College** 

## **(Registration number: 00159730) Balance Sheet as at 31 December 2025** 

|**Note**<br>**Fixed assets**<br>Tangible assets<br>13<br>Investments<br>14<br>**Current assets**<br>Debtors<br>15<br>Cash at bank and in hand<br>**Creditors: Amounts falling due within one year**<br>16<br>**Net current assets**<br>**Net assets**<br>**Funds of the charity:**<br>**Unrestricted income funds**<br>Unrestricted funds<br>**Total funds**<br>17|**31 December**<br>**2025**<br>**£**<br>814,837<br>560,000<br>1,374,837<br>63,994<br>531,032<br>595,026<br>(322,687)<br>272,339<br>1,647,176<br>1,647,176<br>1,647,176|**31 December**<br>**2024**<br>**£**<br>780,098<br>560,000|
|---|---|---|
|||1,340,098|
|||56,260<br>549,639|
|||605,899<br>(280,220)|
|||325,679|
|||1,665,777|
|||1,665,777|
|||1,665,777|



The financial statements on pages 13 to 27 were approved by the trustees, and authorised for issue on 16/04/2026 .................... and signed on their behalf by: 

Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

K Hillier Chairman and trustee 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 15 



## **Chiltern Nursery and Training College** 

## **Statement of Cash Flows for the Year Ended 31 December 2025** 

|**Note**<br>**Cash flows from operating activities**<br>Net cash expenditure<br>**Adjustments to cash flows from non-cash items**<br>Depreciation<br>Investment income<br>6<br>**Working capital adjustments**<br>Increase in debtors<br>15<br>(Decrease)/increase in creditors<br>16<br>Increase in deferred income<br>Net cash flows from operating activities<br>**Cash flows from investing activities**<br>Interest receivable and similar income<br>6<br>Purchase of tangible fixed assets<br>13<br>Net cash flows from investing activities<br>Net decrease in cash and cash equivalents<br>Cash and cash equivalents at 1 January<br>Cash and cash equivalents at 31 December|**31 December**<br>**2025**<br>**£**<br>(18,601)<br>77,031<br>(53,076)<br>5,354<br>(7,734)<br>(19,239)<br>61,706<br>40,087<br>53,076<br>(111,770)<br>(58,694)<br>(18,607)<br>549,639<br>531,032|**31 December**<br>**2024**<br>**£**<br>(58,442)<br>75,310<br>(52,894)|
|---|---|---|
|||(36,026)<br>(22,167)<br>26,625<br>75,254|
|||43,686|
|||52,894<br>(203,866)|
|||(150,972)|
|||(107,286)<br>656,925|
|||549,639|



All of the cash flows are derived from continuing operations during the above two periods. 

The notes on pages 17 to 27 form an integral part of these financial statements. Page 16 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **1 Charity status** 

The charity is limited by guarentee, domiciled and incorporated in England and Wales , and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

The address of its registered office is: 20 Peppard Road Caversham Reading Berkshire RG4 8JZ 

## **2 Accounting policies** 

## **Summary of significant accounting policies and key accounting estimates** 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## **Statement of compliance** 

The financial statements have been prepared in accordance with 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)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. 

## **Basis of preparation** 

Chiltern Nursery and Training College 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 notes. 

The financial statements are presented in Pound Sterling and are rounded to the nearest pound. 

## **Going concern** 

After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements as outlined in the Statement of Trustees' Responsibilities. 

## **Income and endowments** 

All income is included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. 

Nursery fees and use of premises are accounted for in the period in which the service is provided. All fees are stated after deducting allowances granted by the college. 

Page 17 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of obligation can be measured reliably. Certain expenditure is apportioned to categories based on the estimated amount attributable to that activity in the year. The irrecoverable element of VAT is included with the expense to which it relates. 

Governance costs comprise the costs of running the charitable company, including strategic planning for its future development, external audit, any legal advice for directors, and all costs of complying with constitutional and statutory requirements, such as the costs of board and committee meetings and of preparing statutory accounts and complying with public accountability. 

Support costs comprise costs incurred centrally in support of the college. 

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 

## **Government grants** 

Government grants are recognised in the income and expenditure account so as to match them with expenditure they are intended to contribute. 

## **Taxation** 

The company is a registered charity, and as such is entitled to tax exemptions on income and gains, properly applied for its charitable purposes. 

## **Tangible fixed assets** 

Individual fixed assets costing £500 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 

## **Depreciation and amortisation** 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

**Asset class Depreciation method and rate** Freehold property 2% on cost Property improvements 10% on cost Plant and machinery 33.3% on cost and 50% on cost 

## **Investment properties** 

Investment property is stated at market value in accordance with FRS 102. The valuation is reviewed annually by the trustees to ensure that the carrying value reflects current market conditions. In line with FRS 102, no depreciation is charged on investment property, as it is held to earn rentals or for capital appreciation rather than for use in the charity’s operations. 

Page 18 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Fund structure** 

Unrestricted funds comprise income that is available to be spent at the discretion of the trustees in furtherance of the charity’s objectives. These funds are not subject to specific restrictions imposed by donors. 

Unrestricted funds include general funds and designated funds: 

- General funds represent the free reserves of the charity and are available for general use. 

- Designated funds represent amounts set aside by the trustees, from within unrestricted general funds, for specific future purposes or projects. These designations may be amended or released by the trustees as circumstances change. 

Further information on the nature and purpose of each fund is provided in the notes to the financial statements. 

## **Pensions and other post retirement obligations** 

The charitable company operates a defined contribution pension scheme. Contributions payable to the scheme are recognised as an expense in the Statement of Financial Activities in the period to which they relate. The charitable company has no further liability beyond these contributions. 

## **Financial instruments** 

Financial assets: 

Trade and other debtors which is receivable within one year and which do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled and any impairment losses. 

Cash and cash equivalents comprise cash at bank and in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within current liabilities. 

Financial liabilities: 

Financial instruments are classified as liabilities according to the substance of the contractual arrangements entered into. Trade and other creditors (including accruals) payable within one year that do not constitute a financing transaction are initially measured at the transaction price and subsequently measured at amortised cost, being transaction price less any amounts settled. 

Where the arrangements with a creditor constitutes a financing transaction, the creditor is initially measured at the present value of future payments discounted at a market rate of interest for a similar instrument and subsequently measured at amortised cost. 

## Borrowings: 

Borrowings are initially recognised at the transaction price, including transaction costs, and subsequently measured at amortised cost using effective interest method, interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 

Page 19 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **3 Critical accounting judgements and key sources of estimation uncertainty** 

In applying the accounting policies set out in note 2, the trustees must make judgements, estimates and assumptions that affect the reported amounts of assets and liabilities. These estimates are based on historical experience and other relevant factors, and actual results may differ from them. 

Estimates and underlying assumptions are reviewed on an ongoing basis. Any revisions are recognised in the period of the change and, where applicable, in future periods. 

The valuation of investment property is the key source of estimation uncertainty. Investment property is carried at fair value, based on valuations performed by independent professional valuers with appropriate expertise. The trustees review the valuation annually and update it as necessary, taking account of advice received from the valuers. 

## **4 Income from donations** 

|Parent fund raising<br>**5**<br>**Income from charitable activities**<br>Local authority grant funding<br>Other grant funding<br>Parent contributions|**2025**<br>**£**<br>869<br>869<br>**Total**<br>**2025**<br>**£**<br>829,702<br>9,599<br>1,927,873<br>2,767,174|**2024**<br>**£**<br>452|
|---|---|---|
|||452|
|||**Total**<br>**2024**<br>**£**<br>524,515<br>6,300<br>1,978,119|
|||2,508,934|



Charitable activity income arises from the provision of early years care and education, together with the education and training of early years practitioners. These activities form the core charitable purposes of the organisation and represent its principal sources of operational income. 

## **6 Investment income** 

|Interest receivable<br>Income from rents|**Total**<br>**2025**<br>**£**<br>5,076<br>48,000<br>53,076|**Total**<br>**2024**<br>**£**<br>6,394<br>46,500|
|---|---|---|
|||52,894|



Page 20 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **7 Expenditure on charitable activities** 

|**Note**<br>Direct costs<br>Staff costs<br>Support costs<br>8<br>Depreciation<br>Governance costs<br>8|**Unrestricted funds**<br>**Designated**<br>**£**<br>**General**<br>**£**<br>4,530<br>348,405<br>-<br>1,946,855<br>73,190<br>378,958<br>-<br>77,031<br>-<br>10,751<br>77,720<br>2,762,000|**Total**<br>**2025**<br>**£**<br>352,935<br>1,946,855<br>452,148<br>77,031<br>10,751<br>2,839,720|**Total**<br>**2024**<br>**£**<br>345,680<br>1,781,178<br>409,562<br>75,310<br>9,002|
|---|---|---|---|
||||2,620,732|



## **8 Analysis of governance and support costs** 

|**Support costs**<br>Administration<br>Premises<br>Finance costs<br>**Governance costs**<br>Auditors remuneration<br>Auditors remuneration for non-audit services|**2025**<br>**£**<br>278,624<br>167,756<br>337<br>446,717<br>**2025**<br>**£**<br>7,427<br>3,324<br>10,751|**2024**<br>**£**<br>249,419<br>160,256<br>167|
|---|---|---|
|||409,842|
|||**2024**<br>**£**<br>6,204<br>2,784|
|||8,988|



## **9 Net incoming/outgoing resources** 

Net outgoing resources for the year include: 

|Audit fees<br>Other non-audit services<br>Depreciation of fixed assets|**2025**<br>**£**<br>7,427<br>3,324<br>77,031|**2024**<br>**£**<br>6,204<br>2,798<br>75,310|
|---|---|---|



Page 21 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **10 Trustees remuneration, expenses and indemnity insurance** 

## **Remuneration** 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

## **Expenses** 

No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 

## **Trustee indemnity insurance** 

The charity maintains indemnity insurance for the benefit of its trustees in respect of their role in governing the charity. The cover is provided as part of the college’s overall insurance policy and protects the trustees against claims arising from the proper performance of their duties. 

No premiums are paid directly by the trustees, and no reimbursement from trustees has been required during the year. 

## **11 Staff costs** 

The aggregate payroll costs were as follows: 

|**Staff costs during the year were:**<br>Wages and salaries<br>Social security costs<br>Pension costs|**2025**<br>**£**<br>1,764,006<br>150,198<br>32,651<br>1,946,855|**2024**<br>**£**<br>1,631,442<br>118,481<br>31,255|
|---|---|---|
|||1,781,178|



The average monthly number of persons (including senior management / leadership team) employed by the charity during the year was as follows: 

|Child welfare and teaching staff<br>Others|**2025**<br>**No**<br>72<br>7<br>79|**2024**<br>**No**<br>72<br>7|
|---|---|---|
|||79|



The number of employees whose emoluments fell within the following bands was: 

|£80,001 - £90,000|**2025**<br>**No**<br>1|**2024**<br>**No**<br>1|
|---|---|---|



## **12 Taxation** 

The charity is a registered charity and is therefore exempt from taxation. 

Page 22 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **13 Tangible fixed assets** 

|**Cost**<br>At 1 January 2025<br>Additions<br>At 31 December 2025<br>**Depreciation**<br>At 1 January 2025<br>Charge for the year<br>At 31 December 2025<br>**Net book value**<br>At 31 December 2025<br>At 31 December 2024<br>**14 Fixed asset investments**<br>Investment properties|**Land and**<br>**buildings**<br>**£**<br>951,703<br>-<br>951,703<br>482,196<br>12,689<br>494,885<br>456,818<br>469,507|**Property**<br>**Improvements**<br>**£**<br>**Furniture and**<br>**equipment**<br>**£**<br>716,829<br>159,865<br>103,660<br>8,110<br>820,489<br>167,975<br>449,173<br>116,930<br>36,333<br>28,009<br>485,506<br>144,939<br>334,983<br>23,036<br>267,656<br>42,935<br>**31 December**<br>**2025**<br>**£**<br>560,000|**Furniture and**<br>**equipment**<br>**£**<br>159,865<br>8,110||**Total**<br>**£**<br>1,828,397<br>111,770<br>1,940,167<br>1,048,299<br>77,031<br>1,125,330<br>814,837<br>780,098<br>**31 December**<br>**2024**<br>**£**<br>560,000|
|---|---|---|---|---|---|
|||820,489|167,975|||
|||449,173<br>36,333|116,930<br>28,009|||
|||485,506|144,939|||
|||334,983|23,036|||
|||267,656|42,935|||
|||||||



## **Investment properties** 

The investment property was independently valued on an open market basis on 14 April 2021 by Dunster & Morton, a firm regulated by the Royal Institution of Chartered Surveyors (RICS). The trustees have reviewed this valuation and consider it to remain a reasonable and appropriate estimate of fair value at 31 December 2025, taking account of current market conditions and advice received. 

If the investment property had not been revalued it would have been included at the historical cost of £108,570. 

Page 23 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **15 Debtors** 

|**15 Debtors**|||
|---|---|---|
|Trade debtors<br>Prepayments|**31 December**<br>**2025**<br>**£**<br>8,171<br>55,823<br>63,994|**31 December**<br>**2024**<br>**£**<br>1,982<br>54,278|
|||56,260|



## **16 Creditors: amounts falling due within one year** 

|**16 Creditors: amounts falling due within one year**|||
|---|---|---|
|Trade creditors<br>Other taxation and social security<br>Other creditors<br>Accruals<br>Deferred income|**31 December**<br>**2025**<br>**£**<br>47,999<br>34,188<br>5,145<br>25,593<br>209,762<br>322,687|**31 December**<br>**2024**<br>**£**<br>75,443<br>27,814<br>5,517<br>23,390<br>148,056|
|||280,220|



Page 24 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **17 Funds** 

|**Unrestricted funds**<br>**_General_**<br>General fund - Other<br>Revaluation Reserve<br>**_Designated_**<br>Maintenance Fund<br>Parental Fundraising<br>Public Benefit Fund<br>**Total funds**<br>**Unrestricted funds**<br>**_General_**<br>Other<br>Revaluation Reserve<br>**_Designated_**<br>Maintenance Fund<br>Parental Fundraising<br>Public Benefit Fund<br>**Total funds**|**Balance at**<br>**1 January**<br>**2025**<br>**£**<br>1,037,125<br>451,430<br>1,488,555<br>160,305<br>2,241<br>14,676<br>177,222<br>1,665,777<br>**Balance at**<br>**1 January**<br>**2024**<br>**£**<br>1,102,651<br>451,430<br>1,554,081<br>152,000<br>2,291<br>15,847<br>170,138<br>1,724,219|**Incoming**<br>**resources**<br>**£**<br>2,820,250<br>-<br>2,820,250<br>-<br>869<br>-<br>869<br>2,821,119<br>**Incoming**<br>**resources**<br>**£**<br>2,561,828<br>-<br>2,561,828<br>-<br>462<br>-<br>462<br>2,562,290|**Resources**<br>**expended**<br>**£**<br>(2,762,000)<br>-<br>(2,762,000)<br>(73,190)<br>-<br>(4,530)<br>(77,720)<br>(2,839,720)<br>**Resources**<br>**expended**<br>**£**<br>(2,552,208)<br>-<br>(2,552,208)<br>(64,441)<br>(512)<br>(3,571)<br>(68,524)<br>(2,620,732)|**Transfers**<br>**£**<br>18,849<br>-<br>18,849<br>(21,249)<br>-<br>2,400<br>(18,849)<br>-<br>**Transfers**<br>**£**<br>(75,146)<br>-<br>(75,146)<br>72,746<br>-<br>2,400<br>75,146<br>-|**Balance at**<br>**31 December**<br>**2025**<br>**£**<br>1,114,224<br>451,430|
|---|---|---|---|---|---|
||||||1,565,654|
||||||65,866<br>3,110<br>12,546|
||||||81,522|
||||||1,647,176|
||||||**Balance at**<br>**31 December**<br>**2024**<br>**£**<br>1,037,125<br>451,430|
||||||1,488,555|
||||||160,305<br>2,241<br>14,676|
||||||177,222|
||||||1,665,777|



Page 25 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **Structure, Purpose and Movement of Funds** 

## **General Funds** 

General funds represent unrestricted income available for use in furtherance of the charity’s objectives. The General Fund - Revaluation Reserve records the unrealised gains arising from the revaluation of the charity’s investment property. 

## **Designated Funds** 

Designated funds comprise unrestricted amounts that the trustees have set aside for specific purposes, as follows: 

- Maintenance Fund - funds earmarked for future property maintenance and repair works. 

• Public Benefit Fund - funds designated to provide financial assistance to tutorial students and nursery parents in line with the charity’s public benefit objectives. 

- Parental Fundraising - funds raised by parents for the purchase of specific items identified by the charity. 

## **Transfers Between Funds** 

During the year, the trustees approved the following transfers: 

- £21,249 was released from Designated Maintenance Fund and transferred back to general reserves to align the maintenance fund with the anticipated future maintenance requirements. 

• The Public Benefit Fund received £2,400 from general reserves to support bursaries for students and parents in line with the charity’s objectives. 

- Fixed assets purchased from the Parental Fundraising designated fund amounted to £nil in the year. In line 

- with policy, the value of assets acquired from this fund has been transferred to the General Fund. 

## **18 Analysis of unrestricted fund net assets** 

|Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets<br>Tangible fixed assets<br>Fixed asset investments<br>Current assets<br>Current liabilities<br>Total net assets|**Unrestricted funds**<br>**General**<br>**£**<br>**Designated**<br>**£**<br>814,837<br>-<br>560,000<br>-<br>449,510<br>81,522<br>(322,687)<br>-<br>1,501,660<br>81,522<br>**Unrestricted funds**<br>**General**<br>**£**<br>**Designated**<br>**£**<br>780,098<br>-<br>560,000<br>-<br>428,677<br>177,222<br>(280,220)<br>-<br>1,488,555<br>177,222|**Total funds at**<br>**31 December**<br>**2025**<br>**£**<br>814,837<br>560,000<br>531,032<br>(322,687)|
|---|---|---|
|||1,583,182|
|||**Total funds at**<br>**31 December**<br>**2024**<br>**£**<br>780,098<br>560,000<br>605,899<br>(280,220)|
|||1,665,777|



Page 26 



## **Chiltern Nursery and Training College** 

## **Notes to the Financial Statements for the Year Ended 31 December 2025** 

## **19 Commitments** 

## **Capital commitments** 

This capital commitment is in respect of an extension to the car park carried out after the year end. The total amount contracted for but not provided in the financial statements was £Nil (2024 - £98,000). 

## **20 Related party transactions** 

During the year the charity made the following related party transactions: 

## **Blandy & Blandy LLP** 

One of the trustees, J.B. Gater, is also a partner in Blandy & Blandy LLP, a local firm of solicitors. During the year, Blandy & Blandy LLP provided legal services to the charitable company, with fees for the year totalling £6,084 (2024: £371). At the balance sheet date the amount due to/from Blandy & Blandy LLP was £Nil (2024 - £Nil). 

All transactions with Blandy & Blandy LLP were conducted on an arm’s‑length basis, and the trustee concerned took no part in any decisions relating to the engagement of the firm or the approval of invoices. 

## **21 FRC Ethical Standards relevant circumstances** 

In accordance with the provisions of the Financial Reporting Council’s (FRC) Ethical Standard applicable to small entities, the charity has engaged its auditors to assist with the preparation of the financial statements. The trustees are satisfied that this does not compromise the auditor’s independence or objectivity. 

Page 27 




Our Ref: JP/JR/MS/C251 

The Trustees Chiltern Nursery and Training College Limited 20 Peppard Road Caversham Reading RG4 8JZ 

15 April 2026 

Dear Trustees 

## **Chiltern Nursery and Training College Limited** 

In accordance with our normal practice, we write to draw your attention to certain matters which arose during the course of our audit of the College’s financial statements for the year ended 31 December 2025. These matters are reported to you in your capacity as those charged with governance. 

1. **Qualitative aspects of the entity’s accounting practices and financial reporting** We comment as follows on matters concerning the qualitative aspects of the entity’s accounting practices and financial reporting, including the accounting framework adopted, accounting policies, accounting estimates, and financial statement disclosures. 

The financial statements for the year ended 31 December 2025 have been prepared in accordance with: 

- the Charities Act 2011; 

- the Companies Act 2006, including the requirements applicable to companies limited by guarantee; 

- FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland; and 

- Charities SORP (FRS 102) – _Accounting and Reporting by Charities: Statement of Recommended Practice_ . 

The Charities SORP supplements FRS 102 and provides specific guidance on the recognition, measurement, presentation and disclosure of transactions and balances relevant to charities. Where the provisions of the Charities SORP require treatment different from that which might otherwise be adopted under FRS 102 alone, the SORP requirements take precedence. 

As an incorporated charity, the College is required to prepare financial statements that give a true and fair view of its financial activities and financial position and to file statutory accounts and reports with both Companies House and the Charity Commission. The Trustees are also required to prepare a Trustees’ Annual Report that meets the narrative reporting requirements of the Charities Act 2011 and the Charities 




SORP, including disclosure of objectives, activities, achievements, governance arrangements, and financial review. 

## **Accounting policies and estimates** 

The accounting policies adopted in the financial statements are consistent with the above reporting framework and are, in our view, appropriate to the activities of the College. Significant accounting estimates, where applicable, have been made by the Trustees using reasonable assumptions and judgement and are disclosed in accordance with the requirements of FRS 102 and the Charities SORP. 

## **Disclosures** 

The financial statements include the disclosures required by the Companies Act 2006, FRS 102, and the Charities SORP, including disclosures relating to governance, related party transactions, remuneration of key management personnel, and the charity’s reserves and financial position. 

Overall, the accounting framework adopted by the Trustees is appropriate for an incorporated charity of this nature, and the financial statements have been prepared on a basis consistent with the applicable legal and accounting requirements. 

## 2. **Significant difficulties** 

We did not encounter any significant difficulties during the audit. 

## 3. **Significant findings from the audit** 

## 3.1 **Investment property valuation** 

The investment property was last independently valued in April 2021, and this valuation has been accepted by the Trustees as representing a reasonable estimate of open market value as at 31 December 2025. 

In order to follow best practice, which typically involves obtaining an independent valuation every three to five years, we recommend that the Trustees consider instructing a suitably qualified external valuer to carry out a valuation as at the balance sheet date for the year ending 31 December 2026. 

- 3.2 **Related parties - Declaration of interests, conflicts, and related party transactions** The charity is required to identify related parties and to consider potential conflicts of interest involving trustees and other key individuals. In order to fulfil this requirement, the charity should, on an annual basis, obtain details of any entities in which relevant individuals have an interest through employment, ownership, or by acting as a director, trustee, or in another position of control or management. 

In addition, details of any related party transactions entered into during the financial period between the charity and such individuals, or with their connected entities, should be identified and appropriately disclosed. 



We enclose a suggested declaration of interest form for annual completion and recommend that a central register of declarations be maintained and updated regularly for ease of reference and governance oversight. 

## 4. 

## **Letter of representation** 

A draft of our proposed letter of representation is attached for your consideration. We draw your attention in particular to: 

- Section 6, concerning related parties; 

- Section 9, concerning the investment property valuation; and 

- Section 10, concerning laws and regulations 

- Section 11, concerning safeguarding 

In all other respects, the letter is routine. 

5. 

## **Adjusted and unadjusted misstatements** 

We attach a schedule of the adjustments that you agreed should be processed when finalising the financial statements. The schedule also includes all unadjusted misstatements identified during the course of our audit, other than those considered to be clearly trivial. 

You have advised us that the effects of the unadjusted misstatements are immaterial, both individually and in aggregate, to the financial statements as a whole. 

## 6. **Internal control observations** 

As set out in our engagement letter, our audit procedures were designed to enable us to obtain reasonable assurance that the financial statements are free from material misstatement. They were not designed for the purpose of expressing an opinion on the effectiveness of internal control. 

Whilst no material weaknesses were identified, our testing highlighted the following matters which we bring to your attention for consideration: 

## **Sales invoicing – Children turning two** 

We identified three instances where the invoiced amounts differed from the expected charges following a child turning two during the invoicing month. Under CNTC policy, “over two” rates apply in the month in which a child reaches age two. These discrepancies resulted in a modest amount of under‑recovered income. We recommend that controls over invoicing in these circumstances are reviewed to ensure consistent application of policy. 

## **Sales invoicing – overcharge** 

An overcharge of £412.44 was identified on invoice number 9571. We recommend that the Trustees consider whether a refund or credit is appropriate in this instance and that controls in this area are reviewed to reduce the risk of recurrence. 



## **Staff pay rises** 

We noted that pay rises for two employees had not been formally communicated in writing. We recommend that all changes to employment terms are formally documented and communicated to staff. 

## **Site Security** 

During two site visits, we were able to enter the building without being admitted by a member of staff, as a parent held the door open on each occasion. We recommend that parents are reminded of site security protocols to reinforce safeguarding arrangements. 

## 8. **Audit report opinion** 

We do not propose any modifications to our audit opinion and will therefore be issuing an unmodified (clean) audit report. 

We would like to take this opportunity to thank you and your staff for the assistance and cooperation provided during the course of our audit. 

This report has been prepared for the sole use of the Trustees of Chiltern Nursery and Training College Limited and must not be disclosed to third parties, quoted, or referred to without our prior written consent. No responsibility is accepted to any person other than the Trustees. 

The purpose of the audit was to enable us to express an opinion on the financial statements. The audit included consideration of internal control relevant to the preparation of the financial statements in order to design audit procedures appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. Accordingly, the matters reported above are limited to those deficiencies that we identified and considered sufficiently important to be reported to those charged with governance. 

If we can be of any further assistance, please contact Jason Pyke. 

Yours faithfully 


Vale & West 



## **Chiltern Nursery and Training College Limited** 

## **Declaration of Interests, Conflicts, and Related Party Transactions** 

This form is to be completed annually by trustees and other key individuals and updated as necessary during the year. The information collected is used to assist the charity in identifying related parties, managing conflicts of interest, and ensuring appropriate disclosure in the statutory financial statements. 

## **1. Personal details** 

## **Full name:** 

## **Position held within the charity: (e.g. trustee, senior management):** 

## **Date of declaration:** 

## **Financial year to which this declaration relates:** 

## **2. Interests in other organisations** 

Please provide details of any organisations in which you, or a person closely connected with you (for example a spouse, civil partner, close family member, or business associate), had an interest during the period. This includes interests arising through employment, ownership, or acting as a director, trustee, partner or in any other position of control or management. 

||**Name of**||**Nature of interest (e.g. director, employee,**||**Period of**||
|---|---|---|---|---|---|---|
||**organisation**||**shareholder)**||**interest**||



If none, please state **“None”** . 



## **3. Conflicts of interest** 

Please declare any actual or potential conflicts of interest that may arise between your personal interests (or those of connected persons) and your responsibilities to the charity. 

## **Description of conflict Organisation / individual involved How the conflict is managed** 

If none, please state **“None”** . 

## **4. Related party transactions** 

Please disclose details of any transactions or arrangements during the financial year between the charity and: 

- you personally; 

- a person closely connected with you; or 

- an organisation in which you or a connected person has an interest. 

This includes, but is not limited to, payments, contracts, leases, grants, loans, fees, expenses, or donations. 


**----- Start of picture text -----**<br>
Related party  Nature of transaction  Amount (£)  Period<br>**----- End of picture text -----**<br>


If none, please state **“None”** . 



## **5. Additional information** 

Please provide any additional information that you believe may be relevant to the identification of related parties or potential conflicts: 

## **6. Declaration** 

I confirm that the information provided above is complete and accurate to the best of my knowledge. I undertake to notify the charity promptly of any changes to the information disclosed during the financial year. 

**Signed:** Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

**Name:** Karen Hillier 

**Date:** 16/04/2026 




20 Peppard Road, Caversham, READING RG4 8JZ 

Tel:  0118 947 1847  E Mail: info@chilternntc.com www.chilternntc.com 

Vale & West Victoria House 26 Queen Victoria Street Reading RG1 1TG 

## **Dear Sirs** 

## **Chiltern Nursery and Training College Limited Financial statements for the year ended 31 December 2025** 

During the course of your audit of the financial statements of Chiltern Nursery and Training College Limited (the “Charity”) for the year ended 31 December 2025, the following representations were made to you by the directors. We confirm that these representations remain appropriate at the date of this letter. 

## 1. **Directors’ responsibilities** 

We acknowledge our responsibility, as directors, for preparing financial statements that give a true and fair view in accordance with the Companies Act 2006, the applicable financial reporting framework including FRS 102 and the Charities SORP (FRS 102), and for such internal control as we determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

We confirm that, in our opinion, the financial statements give a true and fair view of the state of affairs of the Charity as at 31 December 2025 and of its incoming resources and application of resources for the year then ended. We further confirm that all information necessary to give a true and fair view has been disclosed in the financial statements. 

## 2. **Information and access** 

We confirm that all accounting records have been made available to you for the purposes of your audit and that these records properly reflect and record all transactions undertaken by the Charity. We have made available to you all other records and related information, including minutes of all directors’ and committee meetings. You have been given unrestricted access to all persons within the Charity from whom you considered it necessary to obtain audit evidence, and we have provided all additional information requested by you for the purposes of your audit. 

## 3. **Accounting estimates** 

We confirm that the significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable and consistent with our knowledge and intentions. 

Registered Charity No. 201911. A Company Limited by Guarantee, No. 159730. Registered in England. 



## 4. **Litigation and claims** 

- We confirm that all known actual or possible litigation, claims, and regulatory matters whose effects should be considered when preparing the financial statements have been disclosed to you and have been appropriately accounted for and disclosed in accordance with FRS 102. 

## 5. **Events after the reporting period** 

- We confirm that there have been no events since the balance sheet date that require adjustment to, or disclosure in, the financial statements other than those already disclosed or included therein. 

## 6. **Related parties** 

- We confirm that we understand a related party of the Charity to include any person or organisation that directly or indirectly controls, jointly controls, or significantly influences the Charity, or is under common control, including trustees, directors, key management personnel, close family members, and entities in which such persons have an interest. 

We confirm that the following is a complete list of related party relationships and transactions during the year, and that we are not aware of any other related parties or transactions requiring disclosure: 

|**Party**|**Relationship**|**Nature of transaction**|
|---|---|---|
|Blandy & Blandy LLP|Connected via J B Gater|Legal services – £6,084|
|M Wigmore|Head|Employment payments|
|L G Phillips|Finance Manager|Employment payments|
|K Hillier|Trustee/Director|None in period|
|J B Gater|Trustee/Director|None in period|
|C A Kelly|Trustee/Director|None in period|
|A J Lindley (Resigned)|Trustee/Director|None in period|
|D Sandell|Trustee/Director|None in period|
|C Wakely|Trustee/Director|None in period|
|R Goodwin|Trustee/Director|None in period|





## 7. **Terms of related party transactions** 

We confirm that all related party transactions were conducted on normal market terms, have been properly accounted for, and have been disclosed where required in accordance with FRS 102 and the Charities SORP. 

## 8. **Capital commitments** 

We confirm that the Charity has not entered into any commitments for capital expenditure other than those disclosed in the financial statements. 

## 9. **Investment property** 

- We confirm that, in our judgement, there has been no material movement in the value of the investment property during the period following the most recent formal valuation undertaken in 2021. 

## 10. **Laws and regulations** 

We confirm that we are not aware of any actual or suspected non-compliance with laws or regulations that could have a material effect on the financial statements or that are fundamental to the Charity’s ability to operate. This includes compliance with the statutory and regulatory requirements applicable to an Ofsted-registered early years childcare provider, including the Early Years Foundation Stage (EYFS) Framework and associated safeguarding and welfare requirements. 

## 11. **Safeguarding** 

We confirm that appropriate safeguarding policies, procedures, and controls were in place throughout the financial year and up to the date of this letter, and that these were operated in accordance with regulatory requirements. We confirm that there have been no safeguarding breaches, reportable safeguarding incidents, or regulatory enforcement actions during the financial year or subsequent to the year end that require disclosure in the financial statements or reporting to regulators, other than those already disclosed to you. 

## 12. **Fraud** 

We acknowledge our responsibility for the design, implementation, and maintenance of internal controls to prevent and detect fraud. We confirm that we have disclosed to you the results of our assessment of the risk of fraud within the Charity. 

## 13. **Fraud and allegations of fraud** 

We confirm that there have been no actual or suspected instances of fraud involving management, trustees, employees with significant roles in internal control, or others where the fraud could have a material effect on the financial statements. We also confirm that we are not aware of any allegations of fraud made by employees, former employees, regulators, or others. 

## 14. **Going concern** 

We confirm that, after considering our expectations and intentions for the Charity for the next twelve months and the availability of working capital and other resources, we believe that it is appropriate to prepare the financial statements on a going concern basis. 



## 15. **Unadjusted misstatements** 

We confirm that, in our opinion, the effects of the unadjusted misstatements identified during the audit are immaterial, both individually and in aggregate, to the financial statements as a whole. A schedule of these unadjusted misstatements is attached. 

## 16. **Audit information** 

We acknowledge our legal responsibilities in respect of the provision of information to you as auditors and confirm that: 

- so far as each director is aware, there is no relevant audit information of which you are unaware; and 

- each director has taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to ensure that you are aware of that information. 

We confirm that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and expertise and, where appropriate, supporting documentation. To the best of our knowledge and belief, they accurately reflect the representations made to you by the directors during the course of your audit. 

Yours faithfully 

Karen Hillier (Apr 16, 2026 13:20:22 GMT+1) 

Karen Hillier 

Chair 

For and on behalf of the Board of Directors Chiltern Nursery and Training College Limited 

Date: .............................................. 

16/04/2026 



## 2025 Financial Accounts Approval - Chiltern Nursery and Training College Limited 

Final Audit Report 2026-04-16 

Created: 2026-04-15 By: Melanie Shepard (mshepard@valewest.com) Status: Signed Transaction ID: CBJCHBCAABAAOwYQRilqX_9g2lnElYQIna15GFiuhgi6 

## "2025 Financial Accounts Approval - Chiltern Nursery and Traini ng College Limited" History 

Document created by Melanie Shepard (mshepard@valewest.com) 

2026-04-15 - 3:33:35 PM GMT 

Document emailed to karen.hillier05@gmail.com for signature 

2026-04-15 - 3:44:05 PM GMT 

Email viewed by karen.hillier05@gmail.com 

2026-04-16 - 6:21:39 AM GMT 

- Signer karen.hillier05@gmail.com entered name at signing as Karen Hillier 

2026-04-16 - 12:20:20 PM GMT 

- Document e-signed by Karen Hillier (karen.hillier05@gmail.com) 

Signature Date: 2026-04-16 - 12:20:22 PM GMT - Time Source: server 

- Document emailed to jpyke@valewest.com for signature 

2026-04-16 - 12:20:25 PM GMT 

Email viewed by jpyke@valewest.com 

2026-04-16 - 1:34:33 PM GMT 

Signer jpyke@valewest.com entered name at signing as Jason Pyke FCA 2026-04-16 - 1:36:00 PM GMT 

Document e-signed by Jason Pyke FCA (jpyke@valewest.com) Signature Date: 2026-04-16 - 1:36:02 PM GMT - Time Source: server 

Agreement completed. 

2026-04-16 - 1:36:02 PM GMT