Charlty reglstratlon number 702308 (England and Wales)
Company rnglstratlon numbor Q2357123
THE GREENFIELDS CENTRE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

THE GREENFIELDS CENTRE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Manag•ment Commltt•o
JBUM
S RO￿Tts
J Tate
A Pickard
D Preston
J Robinson
(Appointed 24 February 2025)
(Appointed 24 February 2025)
Charlty number
702308
Company number
02357123
Ro918terod office
139 Russell Road
Forest Fields
Nottingham
NG7 6GX
Independent examiner
Roger5 Spencer
Newstead House
Pelham Road
Nottingham
NG5 1AP
Bankers
Unity Trust Bank PIC
Nine Brindley Plac8
4 Oozells Square
Binningham
B12HB
Sgnlor management taam
Judy Tate
Helen Fletcher
Clndy Raymond
Projecl Dlrector
Childcar8 Dir8Ctor
HR & Training

THE GREENFIELDS CENTRE LIMITED
CONTENTS
Pag•
Managernent Committees, report
Independent examIne￿S report
Statsment of financlal actlvlti85
9-10
Balance sheet
11
Statement of cash flows
12
Notes to the financial ststements
13-26

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMirrEES' REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
The Managem8nt Committee pr858nt their annual report and financial statements for th8 year erKl8d 31
December 2024.
The finandal statements have been prepared in accordance with the accountlng policies set out in note 1 to the
financial statements and comply wlth Charitys governing docum8nt, the Companies Act 2006 and
"AcGountlng and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing
their accounts In accordance wlth the Flnancial Reportlng Standard applicable In the UK and Republic of Ireland
(FRS 102) (effective 1 January 2019)"
ObJectlve3 and a¢tlvltle8
To support the regeneration of the local economy through the provision of quality childcare servrces.
To support parents and carers In Improving th8 quality of Ilfe for themselves and thelr families by
enabling them to make infomied choices about tralning and employment.
To provlde support to parents and carers in employment and traSnlng.
To provlde quality childcare tralnlng to members of the comrnunity and to raise the proflle of childcare
To work in partnership with other organisations and relevant public authorities towards a strateglc
approach to communlty based childcare.
To support local and national govemment initiatives towards quality, affordable, acc8ssible childcare.
The prfncipal activity of the charity is the provlslon of child care and training faciliti88. The charityls also known
a8 Greenfield's.
The Management Commltte8 have paid due regard to guidance Issued by th8 Chartty Commission In deciding
what actfvltles the Charfty should undertake.
Flnanclal revlew
The detalled results for the year are set out on th8 SOFA.
Charitabl8 income from childGare servlces was reduced by Just 1.2% during the year from £806K to £796K, even
though we applied a price incr8a8e, hourty rates for funded chlldren increased and the number of farnilles
applying for places was hlgher than 2023. Thls is because of the lack of availablllty of suitably qualrfied and
experienced staff which is a sector wide issu8 and has prevented us from admitting mor8 chlldren to the settlng.
Thls is an ongolng Issue and will confjnue to affect the centres capaGity to Sncrease its income to meet the
challenges arising from increased business expenses and the cost of living. In addition, interest rates have
decreased so overall amount of interesl rec8iv8d durlng 2024 was lower (especially as wa had a lower level of
reserve8 due to losses in the Iwo prevlous years). Th8 number of children varied across the three nurseries, so
income was hlgher in some settings and aga groups and lower In others. but in all three It was directly related to
staffing capacity.
Charitable expenditure increased more than pr8dictsd, partly due to the need to employ agency staff for most of
the year as a direct result of the ongoing challenges to r8crultment and selection. Further increase In expenditure
was due to increased cost of Ilvlng even though there were less children. Consequenlly, the loss is greater than
the prevlous two years, Co¥t saving exercises are being implemented for the coming year. Budgets for nortr
essential will be reduced agaln and expenditure have been cut down. further savings are being sought by
revlewlng op8rational proc8dure8.
The committee will give s8rious conslderation to the sustalnability of the oroanisation in the coming months. In
additlon to increased operating costs, the increase in wages. employer NIC and pension presents an ongoing
challenge. Finding ways to overcome the sector wlde recruitment crisis will b8 the key to returnlng to a
sustainable posltlon, so looking for way8 lo recruit and retain staff will be a prlorlty for future planning.

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMITTEES. REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Slructur•. governanco and managgmgnt
The overall management of Tha Graenfield's Cantra is by a voluntary management committee. Committee
members may request to Joln at any tlme and wlll be Invited to a commlttee meetlng to meet other members and
find out about the role. Detsils of new director3 are submitted to the registrar of Cornpanies. A sp8ciall8t advisor
from Nottlngham Communlty Voluntary SeNSce (NCVS) wlll provlde tralnlng to new members and the wider
committee to infomi them of their duties and responsibilities and to provide support to them in carylng out thelr
role.
The committee meet biannually either in person or using online team meeting software and need at least four
votlng members for a meetlng to be quorate. Senlor members of staff may also attend the management
commlttee meetlng and are requlred to provlde finance, fundlng and 8enAc8 dellvery reports for the commlttee.
They are also required to report the details of any issues arising. PoliGy decisions, approval of changes in
practice and agr8em8nt on new prajects are decided at these meetings. Minutes of all meetings are circulated,
and coples retalned at the centre.
The management committee employ a team of paid workers to cary out th8 day-to-day management and
operation of the centre. Thes8 members of staff are appointed using an equal opportunities recruitment and
selectlon basss and panels Include members of the commlttee, Ilne manager and outslde represenlatlon (elther
from a funder or an organisation with technical expertise).
FSnanclal management Is governed by the centre's pollcy on finance. DeclsSons regardlng expendlture under
£1,000 which are pre-approved within the budget may be made without management committee approval,
however all invoices are presented for inspection by the treasurer each month. Any expenditure over £1,000 or
expenditure not approved wlthln the budget Is tabled at the management committee meetlng.
The Management Committee. who are also the director8 for the purp08e of company law, and who served during
the year and up to the date of slgnature of the flnanclal Statements were:
JBurn
S Roberts
J Tate
A Pickard

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMirrEES' REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Managemont Commlttea rnvlow
2024 has been a year of chang8 for the childcare sector with signifKant challenges to the reGnJitrnent of suitsble
practitioners. updates to the EYFS, support needed for children and families who are still recovering from Covid
and changes to the way tha government provides funds for childcar8 Sa￿[Ces.
Greenfields, alms and objectives and the services provided continue to be the prov15ion of accessible, affordable,
quality childcare and the support of the families we work with. Our focus is on the safety and wellbeing of children
and on meeting their individual needs. During 2024, there was an increase in the numbers of both non-working
parents wishing to take up funded places and in the number of parents requesting plac*s using the new 15 hours
for working famili8s. Unfortunately. we have b8gn unabla to offer places to all those who require them as we
hav8 been unable to recrnit sufficient suitably qualified and experienced staff to bulld our team.
Accounts show that the ontre has made a loss during the year. The loss will be covered by the centre's
reSeTh￿S. This Is the third consecutive year that the organisation has made a significant loss. Any subsequent
loss of a similar amount would leave the organisation unsustainable. so it is appropriate to now consider the
future of the organisation and whether it Is able to continue to operate under the current business model. No core
funding or grant aid is currenlly received by the organisation, so it is essentlal that the income from fees and
funded places cover the cost of operating the centre. ￿lIst maintaining some reseNes for exceptional
clrcumstances. This alm has not been achieved in recent years, so we now must consider whether the service
provided by the organisatlon ffts with the current local and natlonal prlorftles and requlred outputs for children's
3eplces. Initial review of these requirements would indicate that sinc8 local and national government have
invested heavily In free childcare places and their range of initiatlves such as tax-fr88 thildcara, that they are
unlik81y to provid8 financial support to organisations offering childcare or family support. In addl￿On, govemment
and local authorlties have Invested h8avlly In their 'Famlly Hub Model, and are therefore encouraglng and
3UPPOrting partnershlp working whlch doesn't attract additional funding.
Yhe Family Hubs and Start for Life pmgramme 18 8 significant national initlatlve designed to improve outcomes
for chlldren and famili8s by pmviding Integrated, accewble. and communlty-based support.
Family Hubs opernte as integrated Se￿ceS, Simpli￿ng the process for famllles to access n8C88sary wpport.
Instead of eng8￿.ng with mul&ple agencies separately, families can find 811 the a￿lS￿nCe they require in one
locali0￿whether thmugh physical hubs. outr88ch seThices, or digital platromp8. This appmach enhances
serrice coordination. reduces redundancy. and ensures a more effiaent response to family needs, pathul8rty for
those faclng disadvantages or vulnerabilities"
To remaln sustainable while we consider the future of the organlsatlon, we have reviewed charges and are
Implernenting a fee increase in May 2025 and will continue to work to keep costs low and make savings where
possible without compromising quality. Meanwhile. we will consider and discuss options in relation lo the futur8
and will create a redundancy reserve to meet th8 requirements of the terms of the centres redundancy pollcy
should the need arise.
Effective and meaningful working partnerships have always baen a key driver for Greenfields to support th8
d8V8lopment of the organisation and ensure familias have access to all the services they need. Our working
partnership with Nottingham Cty Children's services remains very important to the success of Greenfields and as
such. we are supporting the changes within Children's Centres In the city to become Family Hubs.
Nottingham Ctty Council has reviewed Its offer in terms of children's servicas and has dosed those children's
¢8ntres that will not becom8 family hubs. Our setting at Bilborough is one such setting and ha5 b88n offered to
us on a long18ase at a '¢lose to market reny ￿thIch would also includ6 us taking on the running and maintenance
costs of the building. AS the organisation is already in a kjss-maklng situation, we are unable to ￿)MmIt to those
terms and have therefore decided to withdraw from the centre in the spring temi of 2025. We have negotiated
with a local communty childcare organisation who are williNJ to take on the operation of the centre and keep the
nursery Tunning while transferring some of their other services into the building to help cover the costs. Thèy ￿111
be retaining G￿enfieldS staff team under a TUPE agreement. This Is a very positive step for us as VR have
developed and managed a very good setting there which has an excellent reputatlon in the area and this move
means the nursery will remain open and the staff will retsln their employment. Our partnership wlth local schools
Is also strong and the numbers attending th8 After-SchrK)I Club which we operate on behalf of four of th8 schools
in the communlty has continu8d to steadlly Increase,

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMirrEES' REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
There have been many changes to the way Early Year5 organi5ations op8rat8 in re￿nt years Including several
updates to the EYFS whiGh Is the statutory framework that underplns the sector. A r8cent Ofsted inspectlon
conffrms that we have been successful at Implementlng the EYFS appropriately they hava rated us as 'Good'.
We continue to review and update our polici88 and procedure8 to ensure that they are In Ilne with the changes
and sufficienly robust to keep staff. chlldren and families safe.
We aim to malntaln the amount of charitable work carried oul at the c8ntr8 and wlll therefore continue to offer
respite care to children in need as well as support families to access a range of support service5 and advwate
on behalf of them where necessary. We will also continue to offer affordable space for trainlng and meetings to
non-profit making organisations.
Greenfields continues to work within tha guid81ines lald down within its policy on equality and div8rsity which
ensures its Services are targeted at those in greatest need and aims to be Indusive to all members of the
communty regardless of their ethnicity, ability. religion. cultural difference5 or employment status. Greenfields
actively ancourages inclusive practice and welcomas children with disabilities and additional n88ds. The
indusion of all mernbers of society results in a revRrding and positive experience for staff, volunteers and users
of th8 Contre. Greenfields Is commltted to providing public benefit and to developlng Incluslve practice.
Greenfields is committed to complylng wlth tts dutles In relatlon to the health, safety, welfare and safeguarding of
chlldren as well as moetlng all Ststutory requirements in relatlon to employment.

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMIThEES' REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Rocruitment and Inductlon of Management Commltteo
At Greenfields. we value the contribution to the organisation of a voluntsry management committee made up of
Users and other interested parties.
Greenfi8lds Manag8ment Committee is cx)mmitted to ensuring that new Trustees a￿ given the necessary
infomiation to understand the role and responsibility of the committe8 member and the support required to
enable them to carry out their role.
Membership:
The following persons may be voting members of Greenfields Management Committee:
Parents of chlldren uslng Greenfields chlldcare services
Adutt learners enrolled on a course run by Greenfields centre
Residents of Hyson Green. New Basford and Forest Fields
Repres8ntatives of local wmrnunlty based organisations
Representstives from other children's Serv1￿ organlsatlons
The following pernons may be voting members of Greenfields Management Committee:
Staff r8pr888ntatlve
Prof&sslonals co￿Pted on to the committee to offer 8dvicelsupport In a specific area e.g. fmance
Oth8r int8rested parties
R•cruitment:
Members wlll be recruited In the following Nyays:
Users will be told about the management committee when loinlng the centre.
Information is in the Gentre's literature and in regular newslettèrs.
AII us8rs are invited to att8nd the Annual General Meeting and to nominate themselves or others to the
committee.
Member5 may volunteer whllsl at the AGM where an election tskes place.
Members may be COwOPted to the committee b8tween AGM'S by completing a nominats'on forni which will
be taken to the following committ88 meeting.
Induction:
Induction for rnembers takes place in the following ways:
A folder providing infomiation about the centre's aims and objectives. th8 work of the organisation and
the n)les and responsibilitres of the trustees is provided for new members.
Election of offrArs takes place at the first committee meeting after an AGM. Roles of each officer are
discussed in the meeting with the Chair and senior staff.
Training needs are analysed and appropriat8 training arranged. Tralnlng wlll take place at a time
appropriate to th8 n88ds of the members.
Further tralnlng for Individual members may be arranged to meet spedfic need.
Members are invited to a staff meetlng to meet the staff team and leam more about their role In the
centre.

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMirrEES' REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Commltt•o Meetings:
There Is a regular agenda item at meetings to discuss Issues relating to the management committee and
its operation. This will include di5CUs5ions about the focus of the committ88, and speofic rcle which
members may und8rtake and any other support they can offer to the centre.
child¢2￿. refreshments and expenses ar8 off8r8d to committee members lo enable them to attend
meetlngs.
Minutes of meetlngs are emailed to members with any relevant documentation within two weeks of
meetings taking place.
Sub group5:
In or(ler to fully play a role in the centre's operatlon. commlttee members may loln a sub group of the committee
whlch relates specifically to the area in which they have an interest in the organisation. Sub groups m88t
separately at tirnes to suit the sub group members and report to th8 full committee at their next meeting. Sub
groups are as follows:
Flnance
Employment & Personnel
Equality and Inclusion
R￿alveS pollcy
It Is the policy of the charfty to maintain unregtricted free reserves at a sufficient level to finance three months
trading and allow essential buildings repalrs to be carried out for which the charity estimat8 to b8 £20.000. The
charity satisfies this. as it currently has free reserves amounting to £293,404.
Rlsk manaymonl
The management Committee has exarnlned the major strategk, bu81ne&8 and operatlonal rlsks which the charity
faces and confirm that systems have been estsblished to enable regular reports to be produced so that the
necessary steps can be taken to lessen these risks.
Pollcy on remuneration of staff and revlew of rates of pay
Greenfields Centre Limited aims to recruit and retsin employees with the skills and experience to perfomi their
role competently and lo contribLrte to the achievement of the charity's aims and objectives. and who understand
and SUPPDrt the ethos and culture of the organisation. Greenfields aims to provide a remun8ration package and
worklng emilronment that is attrdctive arKI comparable to other similar organisations.
The trustees of Greenfields Centre have responslblllty for selllng salary levels for staff and will conform with the
Equality Act 2010; They are committed to maintaining an appropriate balance between paying employees fairly in
(Yder to attrad and relain the best peopl8 for the job, whilst ensuring careful management of the organisation's
funds. Greanfields managament review salaries annually and present recommendations to trustees, although
there is no guarnntee that any charvJes to 3alaries are made as a result of the review.
In deciding the levels of salary and benefits. the management and trustees of Greenfields consider.
The purpose aim and values of the organisation.
statutory requirements in relation to ratio of staff required to meet the needs of users.
The skills, experiences and ability that each role requires.
The level of responsibility and the scope of staff roles
The financial position of the ￿)MpanY and its capacity to maintain salary levels, IncludirYJ glvlng regard
to potential inGrea5e5 in salary.
Overall contribution and performance of an individual and the extent. rf any, to which their role has
changed and may require an adjustrnent to salary
General inflation rates; minimum and living wage and salaries paid in similar organisations.
The imFX)rtanc8 to the organisation of attracting and retaining committed, competsnt and sultably
qualffle(l employees.
Staff are infonned annually of changes to their salary. Greenfield8 aims to be transparent at all tlmes and
ernployees have access to full details of th8 pay structure.

THE GREENFIELDS CENTRE LIMITED
MANAGEMENT COMMirrEES' REPORT (INCLUDING DIRECTORS. REPORT)
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
The report, was app
Oocf
d by the Manag8menl Commlttee and signed on thelr behalf by
Director
Dated: ! * loGI.lol-

THE GREENFIELDS CENTRE LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE MANAGEMENT COMMIThEE OF THE GREENFIELDS CENTRE LIMITED
I report to the Management Committ8e on my examlnatlon of the financlal statements of The Greenfields Centre
Llmlted (the Charity) for the year ended 31 December 2024.
R•spon8ibllltles and ba818 of report
As the Management Committee of the Charity (and also its directors for the purpos8s of company law). you are
r8sponsible for the preparation of the financial statements in a(xordanGe with the requlrements of th8 Companies
Act 2tKI6.
Havlng satlsfied myself that the financial statements of th8 Charty are not requlred to be audited under Part 16 of
th8 Companies Act 2006 and are 81iglbl8 for Independent examination, I report in respect of my axamination of the
Charlty's financial statements carrled out under seGtion 145 of the Charities Act 2011. In carylng out my
examlnatlon I have followed the Dlrectlons given by the Charity Commission under sectlon 145(5)(b) of the Charltles
Act 2011.
Indop•ndent oxamlnorfs slatsm•nt
Since the Charitys gross Income exceeded £250,000, the Independent examlner must be a member of a body
listed in section 145 of the Charities Ad 2011. 1 confirm that l am qualified to undertake the examination because I
am a member of ACCA, which is one of the listsd bodies.
I have completed my examinatlon. I confirm that no matters have come to my attentlon in conn8Ctlon wlth the
examination givlng me cause to belteve that in any material respect:
accounting records were not kept In respect of the Charity as required by sectlon 386 of the Companies Act
20￿.
the financial statements do not accord with those records: or
the financial statements do not comply with the accountlng requlrements of sedion 396 of the Companies Act
2006 other than any requlrement that the llnanclal statements give a true and falr vlew, which Is not a matter
considered as part of an Indep8nd8nt examination; or
the financial ststements have not been prepared In accordance wlth the methods and prlnciples of the
Statement of Recommended Practlce for accounting and reporting by charities applicable to charities
preparlng thelr financial stat8m8nts in accordance with the Financial Reporting Standard appllcable in th8 UK
and Rèpublic of Ireland (FRS 102).
We draw your attention to note 1.2 in tho Financial Statem8nts which discbses con(%ms regarding tho golng
concem of the charity.
I have no other concems and have come across no other matters in connection with the examination to which
attentlon should be drawn in this report In ￿der to enable a proper understanding of the financlal statements to be
reached.
Melvln Balley FCCA DChA
for and on behalF of
Rogers Spencer
Newstead House
Pelham Road
Nottlngham
NG5 1AP

THE GREENFIELDS CENTRE LIMITED
STATEMENT OF FINANCIALACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Curr•nt flnanclal year
Unrestrlcted Restrlct•d
funds
nds
2024
2024
Total
Total
2024
2023
N¢)tes
Income from:
Charitable activities
Investments
786,217
10,338
786,217
10.338
794.464
11,833
T¢)tal Income
796.555
796.555
806.297
endlture on:
Raising funds
Charitable activities
5,950
898,358
932.094
3.696
935,790
Total resources expended
932,094
3,696
935,790
4.308
Net exponditure for the yearl
Net movement In fund8
(135,539)
(3.696) (139,235)
(98.011)
Fund balanc8s at 1 January 2024
530,517
249,692
780,209
878,22Q
Fund balanc•8 at 31 Docember 2024
394.978
245,996
640,974
780,209
The statement of financlal actlvltles includes all galns and losses recognised in the year.
The statement of financial activltles Includes all gains and losses recognised in the year. All income and expenditure
derive from contlnulng activiti8S.
The ststement of financial activities also complles wlth Ihe requirements for an incom8 and expenditure account
under the Companies Act 2006.

THE GREENFIELDS CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Prfor flnanclal y￿r
Unrestrlctad Rostrlot•d
funds
funds
2023
2023
Total
2023
Notos
Income from:
Charitabla activities
Investments
794,464
11.833
794,464
11,833
Total Incom•
806,297
806,297
Ex
ndlturn on:
Ralslng funds
Charitable actlvities
5,950
894,662
5,950
898,358
3,696
Totsl rnsourco8 expendod
900,612
3.696
904.308
Net expendilure for Ihe yearl
Net movement In funds
(94.315)
(3,696)
(98.011)
Fund balances at 1 January 2023
624,832
253,388
878.220
Fund balancos at 31 Docomber 2023
530,517
249,692
780.209
The statement of financi81 activit188 indudes all gains and losses recognised in the year.
The staternent of financlal activities Indudes all gains and losses recognised in the year. All Income and expenditure
derlve from continuing adivities.
The statement of financial activities also complies wtth the requirements for an income and expenditure account
under the Companies Act 2006.
10-

THE GREENFIELDS CENTRE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Tangible assets
Current assets
Debtor5
Cash at bank and in hand
13
351,310
365,050
12
2,573
358,375
2,092
481,657
360,948
483,749
Credltors: amounts falling due wlthln
one year
14
(71,284)
(68,590)
N8t current assets
289.664
415,159
Total assots1855 current liablllties
640,974
780,209
Income funds
Restrlcted funds
Unrestrfcted funds
16
246.996
394,978
249,692
530,517
640.974
780,209
Th8 company is entitled to th8 8X8mption from the audit requirement contalned In section 477 of the Companies Act
2006. for the year ended 31 December 2024.
The directors acknowledge their r8sponsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of finan(ial statements.
The members hav8 not r8quired the company to obtain an audlt of its financial statsments for th8 year in question
in accordance wlth section 476.
These financial statements have been prepar8d in a¢CA)rdan￿ with the provisions applicable to companies subject
to the small companies regime.
The flnandal statements w
behalf ty
ed by the Managernent Commlttee on
signed on their
Company Reglstratlon No. 023S7123
11

THE GREENFIELDS CENTRE LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Notes
Cash flows from oporatlng actlvltles
Cash absorbed by operations
(132,127)
(105,664)
InV￿ting activiti
Purchase of tangible fixed assets
Investment income received
(1,493)
10,338
(7.777)
11,833
Net Cash genoratod from invosting
aGtlvltle5
8,845
4,056
Net decrnas• In cash and cash oqulvalents
(123.282)
(101,608)
Cash and cash equivalents at beginning of year
481,657
583,265
Cash and cash equlvalents at end of year
358,375
481,657
12-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollcle$
Charlty Informatlon
The Greenfields Centre Limited is a private company limited by guarantee incorporated in England and
Wales. The register8d office is 139 Russell Road. Forest Fields, Nottingham, NG7 6GX.
1.1 Accountlng conventlon
The financial statements have been wepared in a￿rdance with the Charitys governing document. the
Companies Act 2006 and "Accounting and Reporting by Charities: Ststement of Recommended Practice
applicable to charities preparing their accounts in a(xordanca with th8 Financial Reporting Standard
applicabl8 in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Charity 15 a Publr
Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currenw of the Charity. Monatary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. modified to Include the
revaluation of freehold propertles and to include inve6tm8nt properties and certain financial instrurnents at fair
value. The prlncipal accounting policies adopted are set out below.
1.2 Golng concorn
At the tlme of approving the financial statements, the Management Committ88 have some cOn￿m8 regarding
financial stabllity. The organlsatlon has made a108s for the last three years and is expected to do so in 2025.
However, there are indications that the loss may be reduced slightly, and the commlttee have reasonable
expectation that there are adequate resources to sustain the loss for the year whilst consideration is glven to
a plan regarding tha future of the organlsatlon. Advice will be taken and 8 range of Options explored. The
Management Committee conllnue to adopt the going concern basis of acca)unting in preparing the financial
statements.
1.3 Charftabla funds
General funds are unrestricted fvnds which are available for use at the dlscretlon of the Trust88s in
fUrtherar￿ of the general objectives of the charity and which have not be8n designated for other purposes.
Restrictgj funds represent grants, donations and legacies r￿1Ved which are allocated by the donor for
spetific purposes.
1.4 Income
All Income 15 included In the SOFA when the charlty is legally entitled to the income, any perfornianc8
conditions attached to the items of income have been met. it is probable that the income will be ￿CeNed and
the amount can be measured ￿lIablY.
Income from government and other grants. whether 'capital' grants or 'Tevenu8 grants,, is r8c(yJnised when
the charity has entitlement to the funds, any perf0m￿nCe conditions attached to the grants have been met, it
is probable that the income will be received and the amount can be measured reliably and is not deferred.
Gifts in kind donated are included at valuation and recognised as inujme when they are distributed to the
projects. Gifts donated for resale are included as income when they are sold. Donate(I facilities are induded
at the value to the charity Whe￿ this can be quantified and a third party is bearing the cost. No amounts are
included in the financial statements for services donated by volunteers.
All Capital grants received in respect of any depreciated assets ar8 credited to deferred income and amortised
to the profit and loss account over the useful economlc lifa of the assets to which they relat8.
Interest on funds held on deposit is induded when r8celv8ble and the amount Can be measured reliably by
the charity: this is normally upon notification of the interest paid or payable by the bank
13-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
A¢￿￿ntIng policios
(Continu•d)
1.5 Expenditurn
Expendlturo 18 recognlsad oncg thara Is a legal or constructlve obllgatlon to transfer economlc benefit to
third paty, It Is probable that a transfer of economlc benefits Y￿11 be required In settlemenL and the amount of
the obligation can be measured rellabty.
ExpendFture is classified by activity. Th8 IX)sts of each activity are made up of the total of direct (x)sts and
shared costs, Includlng support costs Involved In undertaklng each actlvlty. Dlrect costs attrfbutable to a slngle
activity are allocated dlrectly to that actlvlty. Shared costs which contribute to more than one actlvlty and
support costs which ar8 not attributable to 8 single activity are apportioned between those activitl8s on a basis
conslstent wlth the use of resources. Central staff costs are allocated on the basls of tlme spenL and
depreciation charges are allocatsd on the wtion of the assers use.
All expendlture Is accounted for on an accruals basls and has been Glasslfled under headlngs that aggregate
all costs related to the category. Where costs cannot be directly attrfbuted to partlcular headings they have
been allocated to activities on a basi8 consislent with the use of the resources.
Expenditure is r8tx)gnis8d once ther8 is a legal or constructive obligation to make a payment to a third party, it
Is probable that s8ttlement will be required and the amount of the oblSgatlon can be measured rellably.
Expenditure 18 classified under th8 foll￿￿ng activity headings:
Costs of raising funds comprise th8 P￿MOtiOnal costs to the charity.
Expanditure on charitable activities includes all costs und8rtaken to furth8r the purposes of the
Ghartty and thelr assoclated support costs, Induding costs of governance.
1.6 Tanglble flxgd as59ts
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losse5.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values ovar their
useful lives on the following bases:
Freehold land and bulldlngs
Prop8rty improv8m8nts
Fixluros and fittlngg
100 year5 (Straight line method)
belween 5 years and 100 years (Reduclng balance method)
belween 2 and 5 years (Straight Ilne method)
The galn or loss ar181ng on the dlsposal of an asset is detemiined as the difference between the sale
proceeds and the carying value of the asset. and is r8cognised in the statement of financial activities.
1.7 Impaimient of fixed assets
At eath reporting end date, the Charity reviews the carrying amounts of Its tanglbl8 assets lo detennln8
whether thara is any indication that thoge assets have suffered an impairment loss. If any such irKlication
exists, the recoverable amount of th8 asset Is estlmated in order to deternine th8 extent of the impainnent
loss (ff any).
1.8 Cash and Gash equlvalgnts
Cash and cash equivalents are basic financlal assets and Include cash in hand, deposits held at call with
banks. other short-tem liquid investments with original maturiti8s of thrao months or lass, and bank
overdrafts. Any bank overdrafts are shown within borrowing in current Ilabllltles.
1.9 Taxatlon
The organisation is a regiBtered Charity and is exempt from tsxation.
14-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng pollGles
(Contlnued)
1.10 Defined contrlbullon pension schemg
The cost of any unus8d holiday entitlement Is recognised In the period in which the employee's services are
received.
Terniinatlon benefits are recognised immediately as an expense the Charity is demonstrably committed
to terminate the employmant of an employe8 or to provide termination b8nefits.
The charlty operates a defined contribution pension scheme for ￿rtaIn of its employees. The costs incurred
are tharged to the Statement of Finanaal Activities as they accrue.
1.11 Deflnod boneflt ponslon schemo
Th8 charity is an admitted body of the Nottinghamshire County Council P8n5i0n Scheme which is
independenuy administered. This is a defined beneftt sch8m8 and is used for certain of the charity'8
employees.
It Is a multl-employer scheme with pooled assets whlch cannot be allocated to Indlvidual employers. As a
consequ8nce no share of the underlying assets and liabilities can be directly att￿buted to the charity. In these
circumstances contributions ar8 accounted for as If the scheme were a defined contribution scheme based on
actual contrlbutions pald durlng the year.
1.12 G￿rnment grants
Govemm8nt grants are recognlsed at the fair value of th8 asset received or receivable wh8n there is
reasonable assurance that the grant conditions will be met and the grants will b8 received.
A grant that specifies perfonnanc8 conditions is recognlsed in income when the perforniance Cor￿lt10n5 ar8
met. Where a grant does not specity performance condltions it is recognised in income when the proceeds
are received or receivable. A grant received before the recognition criteria are satisfied Is recognised as a
Critical accountlng estlmatos and judgements
In the application of the Charity's accounting policies, the Management Committee are required to make
judgements, estimat8s and assumptions about the carrying amount of assets and liabilities that are not readily
apparent from other sources. The estimates and associated assumptions are based on historlcal experience
and other factors that are considered to be relevant. Actual results may differ from these estimates.
The 8Stimates and underlylng assumptions are r8Vi8W8d on an ongolng basis. R8vlsions to acwunting
estlmates are recognlsed in the period In which the estlmate is revlsed wh8r8 the revision affects only that
perrod, or In the period of the revision and future periods where the revlslon affects both wrr8nt and future
periods.
15-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitabl• Activitles - Income
2024
2023
Fees rec4lvabla
Offsite communlty childcare Incom6
Training and other Income
339,571
444,901
1,745
374,355
418,598
1,511
786,217
794,464
Investments
2024
2023
Interest receivable
10,338
11,833
Ralslng funds
2024
2023
Wages and salaries
5,950
16-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Charitable Activities - Expendituro
Unrnstrlctsd R•strlct•d
fund8
funds
2024
2024
Totsl UnrestrlGled Restrlcted
funds
funds
2023
2023
Total
2024
2023
Wages and salarles
Depreciation and
impairment
Stsff traSnlng and
rpcruitment
Staff healthcare costs
Rent arKI rates
Insurance
Nursery costs
Light and h88t
Cleaning supplres
Repairs and maintenanc8
Printing, postage and
statlonery
Telephone
Computer costs
staff travel costs
Legal and professional
Bank charges and interest
General expenses
Subscriptions
578.574
578,574
541,535
541,535
11,539
3,696
1S,235
13,854
3,696
17.550
3,599
4.781
3.244
4,727
28,613
10,565
2,027
6,724
3.599
4,781
3.244
4,727
28,613
10,565
2,027
6,724
5,059
3,871
3.165
5.677
28,665
15.520
2,595
9,503
5.059
3,871
3.165
5,677
28,665
15,520
2,595
9,503
3,000
5,311
4,941
61
3,036
(448)
10,627
4,360
4,753
4,830
135
3,072
1,146
13,568
85
4,360
4,753
4,830
135
3,072
1.146
13,568
85
5,311
4,941
61
3.036
(446)
10,627
680,931
3,696
684,627
661,393
3.696
665,089
Share of support costs
(see note 8)
Share of govemance costs
(see note 8)
236,831
236,831
226,394
226,394
14,332
14.332
6,875
6.875
932.094
3,696
935.790
894.662
3.696
898,358
Analysls by fund
Unrestricted funds
Restrlcted funds
932.094
932.094
3,696
894.662
894,662
3.696
3,696
3.696
932.094
3.696
935.790
894.662
3.696
898,358
17-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Net movement In funds
2024
2023
Th8 net movement In funds is stated after chargingl(credlting)."
Fees payabl8 for the Independent examlnation of the thariils financial
Btat8ments
Depreciatlon of owned tsngible fix811 assets
2.100
17,550
15,234
Support costs
8upport Governance
costs
2024
Support Governan
costs
C05ts
2023
Staff costs
238,831
6,092
242,923
226,394
2,975
229,369
Ac￿ntanCY fees
8,240
8,240
3,900
3,900
236.831
14,332
251.163
226.394
6,875
233.269
Analysed between
Charitable activities
236.831
14,332
251,163
226,394
6,875
233,269
Employee8
The averaga monthly number of employees during the year was:
2024
Numbor
2023
Number
Full titne
Part time
23
12
20
23
Total
43
By funGtion:
Direct charltab18
Management and adminlstratlon
30
37
35
43
18-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Employoes
(Continuod)
Employm•nt costs
2024
2023
Wages and salaries
Social security costs
Other pension costs
744,590
46,418
30,489
687,404
38.734
50.716
821,497
776,854
There were no employees byhose annual remuneration vms £60.000 or more.
Remuneration by key pernonnel
The remun8ration of k8y manag8rn8nt parsonnel is as follows:
2024
2023
Aggregat8 cornpensation
149,001
146,876
10 Taxatlon
The Charlty Is exempt from taxatlon on Its athltles because all Its incA)me Is applled for Gharltable purposes.
11 Managomont Commlttee
Membership of th8 Managem8nt Committee is voluntary.
During the year Judy Tate, a trustee of the charity rec8iv8d remunèration of £54,636 (2023.. £53.388). No
trustee was paid any expenses during th8 period (2023". £nil). A Trustee may be employed by the Charity
under clrcumstances whlch are lald out in the Memorandum & ArtiGles.
Th8 Charity has a combin8d liability insurance pollcy for both the fixed assets and indemnity insuranc8. Th8
cost of thls Insurance for the year was £4,720 (2023: £5,677)
12 Debtor4
2024
2023
Amounts falllng due within one year:
PrEpayments and accrued income
2,573
2,092
19-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
13 Tanglble fix•d as80ts
Freehold land Flxtures and
•nd bylldlng•
fittlngs
Tolal
At 1 January 2024
Additions
769.164
259.545
1,493
1,028,709
1.493
At 31 December 2024
769,164
261,038
1,030,202
Depreclallon and Impalrniont
At 1 January 2024
Depreciation charged In the year
416,076
11,491
247.582
3,743
663,658
15,234
At 31 December 2024
427.567
251,325
678.892
Carrying amount
At 31 December 2024
341.597
9,713
351,310
At 31 December 2023
353,088
11,962
365,050
14 Credltors: amounts falllng duo wlthln one year
2024
2023
other taxation and sodal S8￿rity
Trade creditors
Other credltors
Accruals and d8ferred income
11,643
10,706
7,072
41.863
8,830
10,215
7,654
41,891
71,284
68,590
Dof•rrnd income
2023
Movement
2024
Income recelved In respect of activities to be undertaken in the
following year
41,191
(3,828)
37,363
15 Rotirom•nt benorrt Schemes
2024
2023
Dofinod contrlbutlon ¥chemgs
Charge to profit or10&8 in res￿ of defined contribution schemes
30,489
50,716
-20-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
15 Retlrnmant bonefit sch•m•s
(Continued
The Charity operates a defined (xjntribution penslon schem8 for all quallfylng employees. The aBsets of th8
scheme are héld separately from those of the Charity in an Independently administered fund.
-21

Ininoor
J Ln
Ln
Ininin o O
ooco
O)¢DO ￿ n¢3>
¢Q*(fj*
c ts)
411111
L)CiWUZZ

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
17 Unrestricted funds
The unrestricted funds of the charity comprlse the unexpended balances of donatlons and grants which are
not subject to specific conditlons by dor￿rS and grantors as to how tsy may b8 used. These include
designated funds whlch have been set aside out of unrestricted fund8 by the truste8s for sp8dfic purposes.
At 1 January
2024
InGomlng Resourcgs
resource8
expended
At31
December
2024
General funds
530,517
796.555
(932,094)
394,978
Previous year.
At 1 January
2023
In¢omlng R080urces
r•sources
oxpended
At31
December
2023
General funds
624,832
806,297
(900,612)
530,517
18 Share capltal
The company Is limited by guarantse and does not have share capltsl.
The Ilabllity of each member Is limited to £1.
19 Analysls of not assets betw•en funds
Unrnstrlctsd Restrlctsd
fund$
funds
2024
2024
Total Unrnstrfclad Restrfct•d
funds
funds
2023
2023
Total
2024
2023
Fund balances at 31
December 2024 are
repres8nted by:
Tangible assets
Current
assetsl{liabilities)
105,314
245,996
351,310
115,358
249,692
365,050
289,664
289.664
415.159
415.159
394.978
245,996
640,974
530,517
249,692
780,209
Related party transactlons
The Gr88nfields Centre Limited had £nil (2023: £nil) in respect of related party transactions.
-24-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
21 Pgnslons: Definod benefit schgmo
The tharltable company participates in the Nottlnghamshire County Council Pension Fund (the Fund), which
is part of the Local Government Pension Scheme (LGPS) This is a multi-employer defined statutory scheme
adrninistergd in accordance with the Local Govemment Pension Scheme Regulations 2013 (the Regulations)
as amended, and the share of assets and liabillties applicable to each 8rnployer is not identifiable.
The results and assumptions of the most recent valuation of the scheme are as follows..
31 March 2022
Present value of future cashflows
£6,498 mllllon
£6,489 million
100Yo
+7%
3.9%
2.9%
Valuation Dat8
Valuation Method
Value of Assets
Value of Liabilities
Funding level (assetslliabilities)
Funding level (change Sin￿ prevlous valuation)
Salary scale increase per annum
Penslon increases per annum
Rate of price inflatlon (CPI)
Discount rate
2.9%
4.7%
The valuers report that there are a few important regulatory uncertainties Surrounding the 2022 valuallon and
thac although It is unclear what Impact these will have on the future benefits of indivldual members, they have
onsidered these issues in the assumption used to set the contribution rates for employers.
The schem8 as a whole Is In surplus at 31 MarGh 2022 by £9m. As mentioned above, the Gharitsble
companies Share of this cannot be Identified and therefore the surplus is not induded in thesa financial
statements.
If the charitable company left the scheme the regulations require that a cessation valuation be Carried out to
¢Jeterniin8 the assets and liabilities at closure. If there was a deficit than this would result in an exit charge.
Post valuation events,.
Since the valuation date, thera has been some significant market turbulence Including material increases in
5hwt-term inflation and gilt yield5. There is an ongoing cost of living crisis, as well as political turmoil.
However. the funding model is designed to help withstand short-terni volatility in markets as it is a longer-t8mi
model and the use of smoothed assumptions over a slx-month period ultimately aims to set stable
contributions for employers.
Deflned contributlon scheme:
The charfty also op8rate$ a defined contribution scheme In respect of some staff. The Scheme and Its assets
are held by Sndependenl managers.
-25-

THE GREENFIELDS CENTRE LIMITED
NOTES TO THE ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
22 Cash generated from oporatlo
2024
2023
Deficlt for the year
{139,235)
(98,011)
Adjustrnents for:
Investment income recognised in statement of finanaal activltles
Depreclatlon and impairment of tanglble fixed assets
(10,338)
15,235
(11.833)
17,550
Movements In working capmal:
(Increase) in debtors
Increase1(dec￿a5e) in creditors
{481)
2.695
(777)
(12,594)
Cash ab8orb•d by operatlons
{132.124)
(105.665)
23 Analysls of change8 in nat funds
At 1 Januory
2024
Ca#h flows At 31 D•wnb•r
2024
Cash at bank and in hand
481,657
(123,282)
358,375
-26-