Company Registration No. N1010464 (Northern Ireland) STEPPING STONES CRECHE LIMttEO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023 IDS Chart•rod A¢¢¢unlants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG STEPPING STONES CRECHE LIMITED CONTENTS Pa99 Legal and administrab've information Truslegs, report Indop8ndent audSlor's r8POrt Statement of financial activiti&s Balance sheet Notes to the financial statements 10. 17 STEPPING STONES CRECHE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trusto0s Mrs C hleLaughlin Mrs E Dempsey Mrs A Lowry Miss S Russell Mrs L Simpson J A Lenghan (Appointed 27 February 20241 (Appointed 27 February 20241 (Appointed 27 February 20241 (Appointed 27 February 2024} (Appointed 27 February 2024} (Appointed 1 October 20231 Socratary L E Sirnpson Charity number NIC102354 Company numbor N1010464 R¢glstèr•d offl 15 Church Street PORTSTEWART Co Londonderry T55 7AH Audltor IDS Chartered Accountants LLP 2312S Cuèèn Slrèel COLERAINE Co Londonderry 8T52 1 BG STEPPING STONES CRECHE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2023 Th8 Irust88s pr8sent Ih8ir annual report and financial statements lor Iha y8ar end8d 30 June 2023. The fin8nei81 ststemeni$ have been prepared in 8c¢ord8n¢e with the 8¢¢0unb"ng poli¢ies set out in note I to the fin8nci81 slatetnenls and cotnply wilh the charity's Igoverning docutnenll, the Companies Acl 2006 and'Accouniing and Reporting by Charilies. Slatetnent of Recomfflended Practi￿ applicable to chaiitie5 preparing their accounts in accordance ￿th th& Financial Reporting Standard applicable the UK and R8public ol Ireland IFRS 1021" leff8cllve 1 January 20191. Objectives and activitie The Company'8 oblgcls are gpe¢lllc811y reslrlcted lo th& advan¢8menl of oducaNon, ro1Sef of pov8ty and preserv815on and protection ol health of children (under 12 years old) wrthin Portslewart. Col8raine and Portrush and their environs ol Northem Irpland Ilhe'area of beneliYI by the provision of childcare.. play lacililies and recreational a-ts'vilies in the interests ol social vigllar9 wllh thg obl9¢1 ol enh8ndng the ￿uCatiOn and devolopmgnl of sald Children, wllhoul distlnclion of $ox, ra¢9 or ol political, religious or other opinions, and so that Ih8ir conditions ol lil& may be improved and in particular lo provide facili1185 for Ihe daily care, recfealion and thucalion lor children who are below the compulsory school age, and for children of compulsory school 8g8 provide day care facilities for out ol schocsl hours and during school holidays. Publi¢ bon&4lt Th8 Iruslees have paid due regard lo guidance issued by the Charity Commisson in deciding what activities the charity should undertake. Achlevements and perfomiance Sigiiilic&nl aclivitl8S and achi&vem&ntB a98inst obj8cliv88 Finan¢ial review Total incorning resource5 lor the year were £573k12022 £628kl of which £554k was generated from fees. Granls of £1k frorn HSCNI Milk Grant. £6k from DOE appr•nlic8ship sch8m8, £2k from EA Engage 111, £2k from Outdoor R•sources, 6K from PEG as was £2 from sundry Income. Total rèsourcès axp8nd8d wara £607k of whlch £477 were 8xpènd8d on wag8s. The company rèturnèd a loss In rèsourees lor th• yèar of £34k. At 30 Jun• 2023 tha total lunds of tha eharity amount•d to £106K, of which £106k is unr8slrictad. RèsgNès policy The Gommillee consider it prLJdentto hold monies in reserve in the event that unforeseen circumstan￿ should lead to financial difficulties whitth might pul the luluro 01 118 employrnenl cap8¢ity, USor$' well-being and g¥naral charity work in jeopardy. Th8 initr'al surplus created by the rtsstructure has been invtrsled back into the roservtss amount to relum it to an 8pproximate value ol two months ol operational costs. Rlsk Manag8rnont The comniille& are aware ol th8 rnajor risks to which the organisalion is exposed. Where appropriate. systerns ￿ procedures havo botsn establlshod to mltigate thè rlskg Ihè charity fa¢e$. Inlèrnal control risks arè minimisod ihrough tho proceduros for aulliorisalion ol all transaclions projects. Proeedures are periodically reviewed lo ensure Ihat tliey conliiiue lo me81 the needs ol the organisation. Procedures are also in place ID ensure cornpliance ivith health and safely ol staff, volunteers and clients. SlruGlure. govemAnGP and rnanagemenl The ¢harity Is 8 comp8ny limited by gu8r8ntee. STEPPING STONES CRECHE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Th8 Irust88s, who are also th8 directors lor lh8 purpose of compan> law, and who served during the y8ar and up lo the date of signature ol the financial 5t8ternen15 were.. A Crawford C Jamieson Shivers K Smylh Ir C Brolly Irs G Hamihon Nlrs G F McGlen C Mcmalh P Morrow Irs T J While Mcmorrow Nlr B C O'mahoiiy Nls E Cheerna A Mallon Ir J Carey L M¢Gookin Nlr3 C McLaughlin Irs E Dempsey Irs A Lowry liss S Russèll Nqr5 L Sirnpson J A L8nèhan IR8sign8d 10 October 20221 (Resigned 14 September 20221 (Resigned 16 October 20231 (Resigned 10 O¢lober 20221 IR*signad 10 Octo￿r 20221 (Resigned 1 May 20231 (Resigned 8 June 20231 (Resigned 27 February 20241 IR9s1gno¢ 7 Mar¢h 2D241 IResign8l 10 Oeiober 20221 (Appoiiited 7 DeGeinber 2022 and resigned 14 Jaiiuary 20241 (Appointed 10 October 2022 and resigned 14 January 20241 (Appointed 16 October 2023 and resigned 27 March 20241 (Appointed 16 October 2023 and resigned 15 February 20241 (Appointed 16 October 2023 and resigned 21 February 20241 (Appointed 27 February 20241 (Appointed 27 Febwary 20241 (Appointcd 27 Fobruary 20241 (Appointèd 27 Fabruaiy 20241 (Appointed 27 Fgbruary 20241 IAppoint•d 1 Octobèr 20231 Organlsatlonal stru¢iure The ¢ommillee consists 016 dire¢lors who administer the Cherity and meet regularly. The commillee are responsible lor Ihe slraiegi¢ dire¢lion and poliey ol th& organisalitsn. Committee Members at from a variety ol professional bo¢kurounds relevant to thè work of the charity- Th8 ¢ornmlll&è as a viholts wa$ approvtsd by Ihe AGM and continuas lo rnoniltsr ils membership. STEPPING STONES CRECHE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Statement of trustees, respons5bllltles The Irusl&&s. who ar8 also th6 dir&¢lors ol Slttpping Stones Crache Limited for tho purposts ol company law. are resptrnsibl$ for prep3ring th8 Trust888' R8POrt and th8 financial stat8mants in accordance with applicabl8 law and United Kingdom A¢counling Standards iunited Kingdom Generally Accepted A￿OUntIng Praclicel. Company Law requires the trustees to prepare financial slatements for each financAal yeai which give a true and fair view ol the slate of affairs ol the charity and of the incoming resources and application of resources, including the income and expgndilure. ol the Gharilable company for that year. In pr8parlng the88 fflnanclal stalerngnts, the Irusle6s are r8qulr8d lo,. select suitable accounts'ng policies and 1hen apply them consistentw; observe the methods and principles in the Charities SQRP., make judggrnenls 8nd gslimal89 that ar¥ rtra80nable and prudent., state whelher applicable UK Accounting Standards have been followed. subject to any rnaterial departures disclosed and 6xplained in the financial $18lemenls', 8nd prepgre the linonoi81 ststements on the going ¢on¢ern bosis unless il is inoppropriate lo presume Ihal Ihe Ghorily will ¢onlinug in opgralion. The Irusleps are resPQllsible for keeping gdequ8le gcGounlirig rerords Ihol disclo% with reg3onoble gccur8cy al any lime Ihe financial ptssilion ol the charily enable them to ensure that the financial slalernenls comply with the Cornpanies Act 2005. They are also responsible for sale Juarding the assets ol the charity and hence for taking reasonable steps for the prevention Antsrt8pclion of fraud and olher irregulerilies. In ar.cordancè wlth the company's artielès. a r8solutlon proposing that IDS Chartered AecoLJntants LLP b& r8appointèd as auditor of the company will be put at a General Meeting. Taxatlon Th8 cornpany Is a chanty IHMRC Charity numb8r XN485611 and is recognised as such by HMRC for laxallon purposès. As result, th8r• Is no Ilablllty to laxatlon ol any ol hs Incom8. The trusteès, report Was approved by the 808rd of TruslÈe$. Irs A Lowry Trustee 11 June 2024 STEPPING STONES CRECHE LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED Oplnlon Wts h8V& 8udited the finan¢ial stslamènls ol Slapping SIDn&s Crech8 Lirniled Ilhe 'charily'l for tho ygar ended 30 June 2023 vihich comprise th8 Statement of financial activiti88, th8 balance sh£8t and notes lo th8 finaNcial statements. including signfficanl accounth'ng policies. The financial ￿porting framework that has been applied in their preparation is 8ppli¢able law nd United Kingdorn Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Sland&rd applicable in the UK an& Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practice). In our opinion, the financial staternenls.. give a true and lair view ol the slate ol the charitable company's affairs as at 30 JuTh9 2023 and of ils incoming resoLJr¢es and application ol resources, lor the year then ended: havg b&8n prop8rly preparad In accordance with Unlled Klngdom Generally Ace8pled Accounllng Practl¢*,' and hav& been prapared in a¢¢crd8nce with Ihts requir&mgnts of th& Compani68 A¢1 2006. Basis for oplnlon The evidence available lo us was lirniled because we were not appointed as auditor of the company until aller the year end and in ¢onsoqugn¢tr il was not possibl? for us to ￿rfOrM Ihg audits'rKJ pro¢¥durgs ngcessaiy lo obtain suffici¥nl appropriate audit evidence as regards lo closing balances included in the preceding years. financial statements We ¢ondu¢19d our audit in ac¢ordan¢¢ with Inl¢rno1ional Standards on Auditing IUKI IISAS IUKII and applicable law. Our respon5ibililies under those standards are further described in th8 Audilors re6ponsibililies for the auclit of the financ￿1 slalements section ol our report. We are independent of the charity in accordance with Ihe ethical requirements that are r8levanl to our audlt of the Ilnanclal slatemenls In the UK, Including Ihg FRC'S Elhlc31 Standard. aiid we have fulfllled our other ethical responsibilities in accordance with these requirernenls. We believe that the audit eviden￿ we have obtained is sufficient ofKJ appropri8te lo prgvide a bosis for our opinion. Mal6rlal unc•rt¥lnty r•lal•d to golno ¢oncom In forming our opinion ol the financial stalemenls. we have considered the adequacy ol the disc106ures made in the notes lo the financigl slalements, concerning the charrty's ability to C4)ntinue as g going Concern. We draw altenb'on to note 1.2 to the financial statement5 which indical8s that the charity IHS nel movement in funds ol -£34,247 as al 30 June 2023. As staled in note 1.2, these events along wilh other matters indicate that a material uncertainly exists Ihal may cast significant doubl on the cornpany's ability lo wnlinua 88 a going con¢8rn. Our opinion is not modffied in re5F¢Ct ol Ihis mgller. Other information The other inform81ion comprises the infomiation included in the annugl rèport other thon the financial slalements and our auditor's report thereon. Thè Iruslees artt rasponsible for the other information contained within the annual report. Our opinion on the financial slaleinents does rKJI cover the other Inlurmation and we do not express any form ol assurance conclusion thereon. Our responsibility is to re8d Ihe other information and, in doing so, consider whether the other inlomiation is m818rially irtonsislenl,Nilh the financial stslemenls or our knowledge obtained in tha course of Ihe audit, or otherwise ap￿arS to be materially misstated. If we identify such material inconsistencies or apparent rnalerial rnisslatem8nts, we are required lo delemiine wheiher this gives rise lo a material misstaternent In the lin8n¢ial ststemenis themselves. If, based on the work we have performed, we conclude that the￿ is a material misslalemenl of this other inforrnalion, we are required to report that fact. We have nothing lo report in this regard. STEPPING STONES CRECHE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED Matters on whlch we are requSred to report by excepllon Wts h8v& nothing lo report in rgspe¢l of Ihts Idlowing matters in relation lo which tha Ch8rilias IA¢¢ounts and Reportsl R8gulatioNs 2D08 requir8 us to r8POrt to you if, in our opinion.. the inlormab'on g'ven in the financial slalements is inconsistent in any mal&ri81 re$p8Ct with Ihe Iruslees. report,. or Suffic￿￿1 accounting records have not been kept,. or the finanaal slat8mgnts arg not in agre8ment with thg accountSng rècords,, or we hove not received 911 the information and explonations we reqLiire forour audit. Responsibilities of trustees As explainfjd more full￿. in the statement of trusl8as' responsibilities, the Iruste8s, who are also the directors ol th8 charity for thp purpnse of company law, are respnn8itrJle fDr the preparation o11hp financial statempnls and fr)r heing sa1isfied Ihat they niv¥ a tru* and lair viow, and for Slieh intornal control 89 IhA Iriisltros dot•rminA is n•¢*ssAry lty $nabl• th$ prAparsJlion of financial slalemenls that are free from material misstatement. whether due to Iraud or error. In preparing the financial slatements, the trustees are respcnsible for assessing the charity's abilily to continue as a going concern, disclosing, as applicable, matters ral8led lo going concern 8nd using th8 going concern basis of accounling unless the truste&$ either inlgnd lo liquidate Ihe charrtable company or to cease operations, or have no realistic alternative but to do so. Audltorfs rasponslbllltl•s for the audlt of thè Ilnanclal statom•nts We have been dppointed as auditor under s￿li0n 144 01 tre Charities Act 2006 and report in accordance wllh the Act and relevant regulations m8de or having effect Ihereundèr, Vur obiectrv8s are to obtain reasonable a8surance aboul whether Ihe financial statements as a whole are free Irom rnaterial misstatement, whether due to fraud or error, and Io iSSLJe an auditorfs report that includes our opinion. Reasonable assuran-e 1$ a hlgh level ol assuraiic8 bul18 not 8 gliaranlee that an aLJdil conduclod In accordance wllh ISA8 IUKI wlll afvays dele¢l rnaterial misstatement when il exists. Misstaleinents can arise from Iraud or error and are considered rnalerial il. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions ol users taken on the basis ol thos$ financial statements. The exlent to which our procedures are capable ol detecting irregularities, in¢ludin9 fraud, is detoiled below. Our appro8ch lo idenlrfying assgS8ing the risks of rnalgrial rni55lalgmenl in respect of irregularrties induding Ir8ud and nnn-r.nmplianr.p wilh IAWS And rp.oiilHlinn$, waq Aq fnllnwg.. w? Idenlifled the law$ and rg9ulallons applicablg lo Ihg cherlty through dlscugsSons wllh Irusleg$ and other tnanagemenl. and from our cotnmercial knowledge and experience ol the sector.. we assessed Ihe extent of compliance wth the laws and regulations Id￿lI11ed above through making enquiries of manoggmgnt and in$pgCtirg19gal ¢orrgspond¥nce. We assessed the susceplibilily of the charrty's ffi'nancial statements lo rnaterial misstaternent, including obtaining an undgrstanding of how fraud might oceur. by.. aking enquiries of tnanagemenl as lo where they considered there was susceptibility lo fraud, their knowledge of actual, suspected and glleged fraud,. considering th8 internal conlrols in plakne lo mitig*te risks ol fvaud and non-compliancg with laws and rggulalions., and perforrning anal'ylical procaures lo identify any unusual or unexpected relationships- reviewing journal entries to identify unusual transactions., • ass8ssing whether judg8rn8nls and assurnptions tnad8 in d818rtnining the accounting estimotes indicative ol potential bias. inveslgating ihe rationale behind any significant or unusual transactions. STEPPING STONES CRECHE LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED In r85pon5e to the risk of irr8gularilies and noniri¥ril¥ rour)d¥d tu Ili# Iitldf&?*l £. 1.2 Golng ¢on¢om Al the tirne of approving the financial 51aternen15, the Trustees consider that il is appropriale to prepare the financial sroiemen¢s on a golng conTrrn basls. The golng con￿rn assumpuon Is base¢ on several charyes In poll¢y and slralggy lo in¢rease the lgvel ol lundino cotning into Ihg $gtting and miligale Ihg in¢re¥g9 in oulgoings, The charity has no18xpendilur$ and movemonl in funds of £34,247. Until the charity rglurns lo a ntrl income poyition there remains a material uncertainty which may cast significant doubt UPDn the charity's ability lo operate a5 a going ¢on¢em. The Trustees will continue lo work closely with Ils financlal aifvlsor lo help better Inform linanei81 strategy and risk managemonl. 11 is on this boS1S that the trustees wntinue to odopt the going ¢on(ern basis In prepgring the finon¢ig1 statements. 1.3 Charitable funds Unreslricied fundg are available for use al the discretion ol th? Iruslee8 in furtheran¢g of ihgir charitabl8 objective8. Restricled fund5 are subject lo specbfic conditions by donors or grantors as to how they may be used. The purposes and uses ol Ihg restricted funds arg sel out in the nolgs lo Ihg linanu81 Swlernonls. Endowment fund5 are sublecl to speclflc conditlons by donors that the capllal musl be maintalned by the chadly. 1.4 Incorn Incorne Is rècognlsèd when the eharity is lègally entid8d to It aftèr any pèrformancè condltlDns havè been Mel, the amounts ¢3n be measured re118bly, and it is probable that in¢orne wlll be recoived. Cash donalSons are recognlsed on rgcelpl. Other donallons arg recognlsgd onc8 the ¢harlty has been nolifled of th8 donation. unless perforrnance conditions require deferral ol Ibe amount. Income lax recoverable in relation lo donations received under Gift Aid or deed5 of covenanl is recognised at the time ol the donation. 10- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 A¢¢ounting policies Icontinutdl Leg8¢ies 8re re¢ogni8ed on receipt or othetwi$e rf the ¢h8rity h83 been notified of an impending dialribution, the amount is known, and receipt is expect￿. 11 the amount is nc* known. tha legacy is treated as a contingent asset. 1.5 Exp&ndliur• Expendiliire Is recognised onpE there is a legal or¢onstructive obligation to transfereconomic benefit to a third paty. It 1$ probablo that 8 transfer ol economic benèfits will bè required in sètuemènl, and the arnounl of th8 obligatitsn can b6 measured reliably. Exp8ndilure IS ¢lassilitsd by activity. Th& costs of each activity ar8 rnade up of the lot81 of diie¢l costs and shared ¢osl8, indiidino support cn%ts involved in undertakino each activity. Direct costs atlribuiable to a sinol• activity are allncaled directly lo Ihal activity. Shared costs which coniribuie to more th8n one 8¢1ivily and 5UPPOrt costs which are nol aiiributsble to a single activity are apportioned between those 8clivilies on a basis consislenl with the use ol resources. Central staff cosls are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the assel's use. 1.8 TJnglbl• flx•d 9s•9ts Tangiblo fixed assèts ar8 initially m•a5ured at COSt and subs8qu8nly measur8d at cost or valuation, n8t ol depreciation and any impalrm8nt loss8s. Depro¢lallon Is rgcognlsed 50 as lo wrllg off Ihg ¢osI or valuallon of assg1$1g$s Ihglr rgsldual valugs ov¢r iholr us4fiJl lives on the following ba39H'. Cr8ch• Improv8rn8nls Fixtures and ffiltings 100/0 Stralghl Iln8 25 /0 Reducing balance Tli¥ gaiii oi I¥¥s rJli8illg uri Ili¥ dispLJb81 o)r ali b¥¥k71 is (Jfsl¥riiiiii¥d as Iti¥ tJiif¥r¥i)b¥ b¥lw¥¥ii Ilig ¥al¥ pi¢J¥e¥d¥ 4ii¢J Ili¥ carrying value of Ihe asset, and is recognised in staletnent of financial ac￿'VitIes. 1.7 Impalrment of flxed assets Al each reporting end dale, the charity review5 the carrying amoun18 of its langible asse151o determine whether there is any indi¢alion Ih¥l thos9 ass￿5 hav¢ suff¢rgd an impairment lo85. If ¥ny such indication gxists. the r￿0Verable amount ol the a85el 15 e5tirnaled in order lo delerrnine the exlenl ol the impairment Ios5 lif 8nyl. 1.8 Cash and ¢ash &quival•nt$ Cash Jnd cJeh aquivalttnts Includ• cash In hand, d8poslts hdd at call whh banks, othér short-t8rm Ilquld inv•stm8nt$ with original matiirities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in currént liabil￿-￿s. 1.9 Flnanclal Instruments Th8 rharily t>l9r.1￿1 In apply thp provi8i()n8 nl sftp.linn 11 'Baqir. Finanrial InRlrum8nt8' And spr.lion 12'0th8r Financial Instrurnenls Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party lo th8 conlraclual provisions of Ihe instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial slalements, when there is a legally enlorceable right to sel off tre re¢ognised amounls and there is an intention to settle on a net basis or to realise the asset and settlè the liablity Simultaneously. 11 STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 A¢¢ounting policies Icontinutdl Basie financial •J*ets Basic financial assets, which include debtors and cash and bank balenc£s, are inili£lly meaSU￿d at transaction price induding Iransadion wsts and are subsequently ¢arrigd at amortis8d ¢osl using th& 8ffe¢tivg inlertrst method unless the arrangement constitutes a linanGing Iransaclion. where the transaction is rnea5ured al the present value of the future re￿ip1S discounted al a rnarkel rate of interest. Financk?l assets classified as receivable within one year are not amorti99d. Basic financial liabilities Basic finanei81 liabilities. inclLJding credilors and bank loans are initially recognised ot transa¢lion pri¢e unless the arrangement conslilut8s a financing transaction, where the debt inslrumenl is measured al th8 present value ol the future payments discounted at a market rale ol interest. Financial liabililies classified as payabl8 within on8 year ar8 not amortised. Debt Instruments ar8 subs8qu8ntly cari18d al arniYtiS8d cost, using th8 eff8ctiv• Int8r8sl ratè m8thod. Trade tt8dilors are obligations lo pay for goods or servic88 Ihal have been acquired in the ordinary course ol opèrations from suppllars. AmoLJnts paiablè are cL4sslflèd as curr8nt Ilablllll8s11 paym8nt Is dLJe wbthin oné yèar or188S. If not, Ihtsy are presented 8s non4urrenl liabilities. Trade creditots arts recognised inllially 8t trans3¢11on prf¢e 8nd subsequently measured at amortlS8d cosi using th8 effective in18r8sI rnelhod. DwKognlilon ¢lflnan¢l•l Ilabllltles Financial liabilitr'es are derecognised when the charity's conlraclual obligations expire or are discharged or cancelled. 1.10 Employ•• b•n•flts The cost of any unus8d holiday 8nlillemenl is re￿niSed in the period in which tho 8mploy88'S 8ervic68 are received. Teminalion b&n¢fils are recognisod immediately as 8n expense when the Charity is demonstrably committed to terminate the employment ol an employee or to provid8 termination benefits. 1.11 R*llrèmont bon•fll$ Paymenls lo clelned contr1t￿liOn r&lir¢menl benefit schem$s are ¢har9&d as an gxp9nse as Ih9y fall due, Crltleal accountlng èstlmates and ludgern•ntA In the applicats'on of the charity's accounting poIic4es, the trustees are required to make judgenEnls, esiimate5 and assumptions aboLJI Ihe carrying amount of assets )nd liabilities Ihal are not readily apparenl from other SOLJices. The eslim8les and associaled assumption8 are based on hi8torical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The 8slimales and underlwng assumptions are reviewed on an ongoing basi8. Revisions to accounting eslimales are recognised In Ihe period In which the esiimaie Is revised where the reViS￿n affecrs only ihat pen£x1, or In Ihe period or th8 revlslon and future per1￿$ wher8 the rgvlslon affects both ¢urrgnt future perlods. 12- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Income from donatlong and legacles Unrestricted funds 2023 Unregtrictèd lunds 2022 Donations and grfts 6,000 77,733 In¢om8 from ¢harttobl¢ a¢tlvltl•$ Unrg$trlet¢d funds 2023 R•$trl¢tgd funds 2023 Total Unr$$trl¢tsd lunds 2022 Re$trlct*d funds 2022 2023 2022 Ineom• Fee5 PEAG Funding from Education Aulhorily HSCNI fvlilk Grant HSCB Outdoor Grant Sundry In¢omo 554.133 554,133 528,011 528.011 1,365 8,134 948 2,000 9,499 948 2,000 282 11,943 139 2,187 11,943 139 2,187 282 555,780 11.082 566,862 528.013 14,269 542,282 In¢omo from othor tradSng actlvlt19$ Unro$trS¢t•d Unr•$trf¢t•d fund8 lund8 2023 2022 Fundroisln9 Incomg 629 878 Oth•1 Incom• Restrlctgd fvnd6 Total Total 2023 2023 2022 Job Reienlion Scheme 7,419 13- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 Charltable acto￿tIes 2023 2022 Staff c06t8 483,503 1,804 54,290 957 4,008 15,055 1,473 2,762 1,182 4,183 6,223 26,135 323 5,040 431,040 2,195 54.511 1,602 3,730 26,113 )0 2,841 &30 2.CQO 12.893 30,157 Training costs Prerrises costs Printing. postsge & stalionety SubKriptions Equipm¢nt costs Legal & professlonal fees Cornpuler & 50ftware costs Outings & Iravg18xpens85 Accouniancy Repalrs & molnlenance Misc expenses Bank charges Depreciatlon 5,330 607,738 573,846 607,738 573,846 Analy$l$ by fund Unre51ricled funds Restriclod funds 596,656 11,082 559.577 14,269 607,738 573.846 Nel movernent in fund$ 2023 2022 The ng1 movement in funds is stsled aftgr chargingllcr8dilingl., Depreciation of owned tangible fixed assets 5,040 5.330 Trust?eg None ol Ihe trustees lor any persons connected with Ihemj received any remuneration or ben8fi18 frorn the charity during the year. 14- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 10 Employees The 8ver8ge mtsnthly number of employees during the yeer w8S'. 2023 Numb•r 2022 Numbgr 36 35 Employmént costs 2023 2022 Wages and $8larles Other pension costs 473,593 9,910 422,370 8,670 483.503 431.040 There were no &mployees whose annu81 remunerallon was more than £60,000. 11 Taxatlon Thg chadly is exgmpl from loxallon on Sts o¢tlvllig$ b9C8USo 811 Ils In¢orn?1$ opp119d lor chadloblg purposeg. 12 Tanglbl• Ilx•d ass•ts Crecho Improv¢ments Flxturo8 an Il¢llng¥ Tothl Cost At 1 July 2022 Additlgns 33,630 12,720 807 46,350 At 30 June 2023 33,630 13,527 47,157 Depreclatlon and Impalrment At 1 July 2022 Depreciation charge(J in the year 19,448 3,363 6.818 1,677 26,266 5,(NO At 30 June 2023 22,811 8,495 31.306 Carrylng amount At 30 June 2023 10,819 5,032 15.851 At 30 June 2022 14,182 S.903 20,(M5 15- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 13 Debtors 2023 2022 Amount8 f8lllng due wlthln one year.. Trado debtors 26,730 37.779 14 Loan$ and overdrafts 2023 2022 Bank tsvardrafts Payabl8 within one year 15 Cr•dilor$'. amounts falling du• within on• y•ar 2023 2022 Bank o)verdrarts Other taxation and 50clal security Accruals 14 6,542 1.390 2.700 7.933 2,701 16 R•lir•m•nt b•n•fit •¢h•m•s 21123 2022 D•fln•d conlrlbutlon schgm•g Charge to profit or loss in respect ol defined contribution schemes 9,910 8.670 Thg charfly oparalès a deflngd contrSbutlon penslijn sch8m& for 211 qualifying gmploy¢es. Thg 0$891s of Ihfr schgmg erg held separately Irotn th059 ol Ihg Gharity In an Ind9pendenlly adrninistered fund. 17 Unr•itri¢ted furnds Thg unreslricled funds of the charity comprise the unexpended balances ol donations and grants which are not subject In sppr.ifir. rnndilinn8 hy drjnnrs And oranlnrs As In thpy m2y hp 118prl Thp.8p. iw,Iiidp. rtpsionalp.d fiJnd8 whir.h hAVP been 8el asid6 oui ol unreslricled funds by the Iruslaes for sp8¢illc purpos88. At 1 July 2Q22 Incomlng re¥ourGes Resourcgs4t JO Jun• 2023 expended Gen8ral lund5 140,300 562,409 1596.6561 106.053 16- STEPPING STONES CRECHE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023 17 Unr•$tri¢tsd furnd8 Icontinutdl Prtsvitsus ytsar.. At 1 July 2021 Ineoming r¢sour¢o$ Retour¢•&4t JO Juno 2022 9xp•nd•d General funds 85,836 614.041 1559.5771 140,300 18 Anaty515 of net assets between fund5 Unr•strlet•d lunds 2023 At 30 June 2023,, Tangible assets Currenl as5elsllliabililigsl 15,851 90,202 106.Q53 Unrestrlcted lundg 2022 At 30 June 2022.. Tanglblg a8sel8 Curranl ass81sllliatyililiosl 20,085 120,215 140.300 19 Related party transactions Th8 Eoard is made up ol all crech8 customerslex cuslomers. however all income is rec8ived al the normal rat8. 17- This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic fonn, authentication and manner of delivery under section 1072 of the Companies Act 2006.