2025-06-30-accounts

Company Registration No. NI010464 (Northern Ireland)

STEPPING STONES CRECHE LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

IDS Chartered Accountants LLP 23/25 Queen Street COLERAINE Co Londonderry BT52 1BG

STEPPING STONES CRECHE LIMITED

CONTENTS

	Page
Legal and administrative information	1
Trustees' report	2 - 4
Independent auditor's report	5 - 7
Statement of financial activities	8
Balance sheet	9
Notes to the financial statements	10 - 17

STEPPING STONES CRECHE LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs E Dempsey Miss S Russell Mrs N Mccaulay Mrs S O'Neill C K Murphy (Appointed 24 March 2025) Secretary Mrs E Dempsey Charity number NIC102354 Company number NI010464 Registered office 15 Church Street PORTSTEWART Co Londonderry BT55 7AH Auditor IDS Chartered Accountants LLP 23/25 Queen Street COLERAINE Co Londonderry BT52 1BG

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STEPPING STONES CRECHE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 JUNE 2025

The trustees present their annual report and financial statements for the year ended 30 June 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)".

Objectives and activities

The company's objects are specifically restricted to the advancement of education, relief of poverty and preservation and protection of health of children (under 12 years old) within Portstewart, Coleraine and Portrush and their environs of Northern Ireland (the 'area of benefit') by the provision of childcare, play facilities and recreational activities in the interests of social welfare with the object of enhancing the education and development of said children, without distinction of sex, race or of political, religious or other opinions, and so that their conditions of life may be improved and in particular to provide facilities for the daily care, recreation and education for children who are below the compulsory school age, and for children of compulsory school age provide day care facilities for out of school hours and during school holidays.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

Financial review

Total incoming resources for the year were £589k (2024 £553k) of which £522k was generated from fees. Total resources expended were £570k (2024 £559k)of which £448k were expended on staff costs. The company returned a profit in resources for the year of £18k (2024 (£6k)). At 30 June 2025 the total funds of the charity amounted to £118K, of which £87k is unrestricted.

Reserves policy

The committee consider it prudent to hold monies in reserve in the event that unforeseen circumstances should lead to financial difficulties which might put the future of its employment capacity, users' well-being and general charity work in jeopardy. The initial surplus created by the restructure has been invested back into the reserves amount to return it to an approximate value of two months of operational costs.

Risk Management

The committee are aware of the major risks to which the organisation is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are periodically reviewed to ensure that they continue to meet the needs of the organisation. Procedures are also in place to ensure compliance with health and safety of staff, volunteers and clients.

Structure, governance and management

The charity is a company limited by guarantee.

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STEPPING STONES CRECHE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mrs C McLaughlin (Resigned 5 July 2024) Mrs E Dempsey Mrs A Lowry (Resigned 8 January 2025) Miss S Russell Mrs N Mccaulay Mrs S O'Neill C K Murphy (Appointed 24 March 2025)

Organisational structure

The committee consists of 4 directors who administer the charity and meet regularly. The committee are responsible for the strategic direction and policy of the organisation.

Committee members are from a variety of professional backgrounds relevant to the work of the charity. The committee as a whole was approved by the AGM and continues to monitor its membership.

Statement of trustees' responsibilities

The trustees, who are also the directors of Stepping Stones Creche Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards 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 charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that IDS Chartered Accountants LLP be reappointed as auditor of the company will be put at a General Meeting.

Taxation

The company is a charity (HMRC Charity number XN48561) and is recognised as such by HMRC for taxation purposes. As a result, there is no liability to taxation of any of its income.

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STEPPING STONES CRECHE LIMITED

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

The trustees' report was approved by the Board of Trustees.

Samantha Russell

Samantha Russell (Mar 24, 2026 10:22:37 GMT) Miss S Russell Trustee

20 March 2026

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STEPPING STONES CRECHE LIMITED

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED

Opinion

We have audited the financial statements of Stepping Stones Creche Limited (the ‘charity’) for the year ended 30 June 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 30 June 2025 and of its incoming resources and application of resources, 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

The evidence available to us was limited because we were not appointed as auditor of the company until after the year end and in consequence it was not possible for us to perform the auditing procedures necessary to obtain sufficient appropriate audit evidence as regards to closing balances included in the preceding years’ financial statements

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's 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.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Accounts and Reports Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion:

• the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

• sufficient accounting records have not been kept; or

• the financial statements are not in agreement with the accounting records; or

• we have not received all the information and explanations we require for our audit.

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STEPPING STONES CRECHE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2006 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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:

• we identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the sector;

• we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the charity'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;

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and

• performing analytical procedures to identify any unusual or unexpected relationships;

• reviewing journal entries to identify unusual transactions;

• assessing whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias;

• investigating the rationale behind any significant or unusual transactions.

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STEPPING STONES CRECHE LIMITED

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED

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 statements disclosures to underlying supporting documentation;

• reading the minutes of meetings of those board of trustees;

• enquiring of management as to actual and potential litigation and claims;

• reviewing legal correspondence.

There are inherent limitations in our audit procedures described above. The more removed 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 trustees 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 is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members 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 company and the company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

IDS Chartered Accountants LLP

23/25 Queen Street COLERAINE Co Londonderry BT52 1BG

20 March 2026

IDS Chartered Accountants LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

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STEPPING STONES CRECHE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 JUNE 2025

Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income from: Donations and legacies 3 - - Charitable activities 4 547,172 22,698 Other trading activities 5 1,660 - Total income 548,832 22,698 Expenditure on: Charitable activities 6 560,645 9,363 Total expenditure 560,645 9,363 Net income/(expenditure) and movement in funds (11,813) 13,335 Reconciliation of funds: Fund balances at 1 July 2024 99,637 - Fund balances at 30 June 2025 87,824 13,335	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ - 1,300 - 569,870 523,537 26,809 1,660 1,449 - 571,530 526,286 26,809 570,008 532,702 26,809 570,008 532,702 26,809 1,522 (6,416) - 99,637 106,053 - 101,159 99,637 -	Total 2024 £ 1,300 550,346 1,449 553,095 559,511 559,511 (6,416) 106,053 99,637

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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STEPPING STONES CRECHE LIMITED

BALANCE SHEET

AS AT 30 JUNE 2025

Notes Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities The funds of the charity Restricted income funds Unrestricted funds 15	£ 3,363 119,054 122,417 (28,609)	2025 £ 7,351 93,808 101,159 13,335 87,824 101,159	£ 11,395 83,064 94,459 (6,052)	2024 £ 11,230 88,407
				99,637
				- 99,637
				99,637

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 20 March 2026

Mrs E Dempsey C K Murphy Trustee Trustee Christina Murphy (Mar 24, 2026 14:32:10 GMT) Elaine Dempsey (Mar 24, 2026 15:09:00 GMT)		na Murph

Company registration number NI010464 (Northern Ireland)

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

Charity information

Stepping Stones Creche Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 15 Church Street, PORTSTEWART, Co Londonderry, BT55 7AH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

1.2 Going concern

At the time of approving the financial statements, the Trustees consider that it is appropriate to prepare the financial statements on a going concern basis. The going concern assumption is based on several changes in policy and strategy to increase the level of funding coming into the setting and mitigate the increase in outgoings.

The Trustees will continue to work closely with its financial advisor to help better inform financial strategy and risk management.

It is on this basis that the trustees continue to adopt the going concern basis in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Creche improvements 10% Straight line Fixtures and fittings 25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

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

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments 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 to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates 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 historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Donations and gifts	-	1,300

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

4 Income from charitable activities

Unrestricted Restricted funds funds 2025 2025 £ £ Income Fees 546,379 - PEAG Fundimng from Education Authority 13 17,022 HSCNI Milk Grant - 698 Other Grants - 4,978 Sundry Income 780 - 547,172 22,698	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 546,379 522,372 - 17,035 638 17,327 698 - 976 4,978 - 8,506 780 527 - 569,870 523,537 26,809	Total 2024 £ 522,372 17,965 976 8,506 527
		550,346

5 Income from other trading activities

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Non-charitable trading activities	1,660	1,449

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

6 Charitable activities

Staff costs Training costs Premises costs Printing, postage & stationery Subscriptions Equipment costs Legal & professional fees Computer & software costs Outings & travel expenses Accountancy Repairs & maintenance Clothing costs Misc expenses Bank charges Depreciation Analysis by fund Unrestricted funds Restricted funds 7 Net movement in funds The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets	2025 £ 447,797 2,446 48,390 729 5,560 12,975 250 8,496 3,169 3,814 6,869 1,858 22,965 241 4,449 570,008 570,008 560,645 9,363 570,008 2025 £ 4,449	2024 £ 422,277 588 52,266 1,057 6,885 18,629 7,541 11,775 1,199 3,480 9,162 - 19,749 282 4,621
		559,511
		559,511
		532,702 26,809
		559,511
		2024 £ 4,621

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

9 Employees

The average monthly number of employees during the year was:

Employment costs Wages and salaries Other pension costs	2025 Number 32 2025 £ 439,105 8,692 447,797	2024 Number 34
		2024 £ 410,565 11,712
		422,277

There were no employees whose annual remuneration was more than £60,000.

10 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11 Tangible fixed assets

Creche improvements Fixtures and fittings £ £ Cost At 1 July 2024 33,630 13,527 Additions - 570 At 30 June 2025 33,630 14,097 Depreciation and impairment At 1 July 2024 26,174 9,753 Depreciation charged in the year 3,363 1,086 At 30 June 2025 29,537 10,839 Carrying amount At 30 June 2025 4,093 3,258 At 30 June 2024 7,456 3,774	Total £ 47,157 570
	47,727
	35,927 4,449
	40,376
	7,351
	11,230

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2025

12 Debtors Amounts falling due within one year: Trade debtors 13 Creditors: amounts falling due within one year Other taxation and social security Other creditors Accruals 14 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes	2025 £ 3,363 2025 £ 13,225 13,994 1,390 28,609 2025 £ 8,692	2024 £ 11,395
		2024 £ 4,084 - 1,968
		6,052
		2024 £ 11,712

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 July 2024 Incoming resources Resources expended At £ £ £ General funds 99,637 548,832 (560,645) Previous year: At 1 July 2023 Incoming resources Resources expended At £ £ £ General funds 106,053 526,286 (532,702)	30 June 2025 £ 87,824
	30 June 2024 £ 99,637

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STEPPING STONES CRECHE LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2025

16 Analysis of net assets between funds

Unrestricted Restricted funds funds 2025 2025 £ £ At 30 June 2025: Tangible assets 7,351 - Current assets/(liabilities) 62,966 30,842 70,317 30,842 Per balance sheet 87,824 13,335 Balance to allocate 17,507 (17,507) Unrestricted Restricted funds funds 2024 2024 £ £ At 30 June 2024: Tangible assets 11,230 - Current assets/(liabilities) 88,407 - 99,637 -	Total 2025 £ 7,351 93,808
	101,159
	101,159 - Total 2024 £ 11,230 88,407
	99,637

17 Related party transactions

The Board is made up of all creche customers/ex customers, however all income is received at the normal rate.

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IDS Chartered Accountants LLP 23-25 Queen Street COLERAINE BT52 1BG

Stepping Stones Creche Limited 15 Church Street PORTSTEWART Co Londonderry BT55 7AH

Our Ref 3366/C/DM/AW Your Ref NI010464

20 March 2026

Dear Sirs

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025

We confirm to the best of our knowledge and belief that the following representations are made on the basis of appropriate enquiries of other directors, related parties, controlling bodies, management and staff, with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you in respect of your audit of the above financial statements, in accordance with the terms of your engagement letter.

• i As set out in the directors' report, we acknowledge our responsibilities for preparing financial statements under the applicable financial reporting framework being ‘FRS 102 The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ which give a true and fair view and for making accurate representations to you.

• ii As far as we are aware:

• there is no relevant audit information of which you are unaware; and

• we have taken all steps that we ought to have taken to make ourselves aware of any relevant audit information and to establish that you are aware of that information.

• iii All the accounting records of the company have been made available to you for the purpose of your audit and all the transactions undertaken by the company have been properly recorded in the accounting records and reflected in the financial statements.

• iv All other records and related information, including minutes of all management and members' meetings, have been made available to you.

• v We accept responsibility for the following:

• Making the choice of the most appropriate financial reporting framework;

• • Preparation of financial statements under FRS 102, including comparative figures;

• Choosing the most appropriate accounting policies and estimates and disclosing them in the financial statements;

• Making the necessary judgments regarding facts and figures in the financial statements and disclosing appropriate elements of those judgements in the financial statements;

• Assessing any impact on the going concern assessment;

• Choosing the most appropriate disclosures necessary to give a true and fair view under company law and FRS 102;

• Communicating with third parties such as shareholders, lenders, regulators, grant aid and Governmental agencies and trade suppliers about the impact of FRS 102 on the company’s profits, reserves and balance sheet;

• Choosing the appropriate fair value specialists or experts who have a specialism or expertise in determining fair values

• vi The financial statements are free of material misstatements, including omissions and all the revenue/expenses/assets and liabilities of the company have been recorded in the accounting records.

• vii We are not aware of any events likely to occur in the twelve months following approval date of these financial statements that may impact on the company’s ability to continue as a going concern. We continue to adopt the going concern basis in preparing the financial statements for the year ended 30 June 2024.

We have reached this conclusion based on to circumstances which we consider may occur during a period of at least twelve months from the date of approval of these financial statements.

• viii We acknowledge our responsibility for the design and implementation of internal control to prevent and detect error and fraud. There have been no irregularities involving management or employees who have a significant role in internal control or that could have a material effect on the financial statements.

• ix We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.

• x We have disclosed to you our knowledge of fraud or suspected fraud affecting the entity involving:

• i. management;

• ii. employees who have significant roles in internal control; or

• iii. others where the fraud could have a material effect on the financial statements.

xi We have disclosed to you our knowledge of any allegations of fraud, or suspected fraud, affecting the entity's financial statements communicated by employees, former employees, analysts, regulators or others.

xii Except as stated in the accounts:

1. the company has satisfactory title to all assets. 2. there are no unrecorded liabilities, actual or contingent. 3. none of the assets of the company has been assigned, pledged or mortgaged. 4. there are no material prior year charges or credits, nor exceptional or non-recurring items requiring separate disclosure.

2. there are no unrecorded or undisclosed guarantees to third parties.

xiii There were no transactions, arrangements or agreements to provide credit facilities, (including loans, quasi-loans or credit transactions and guarantees to provide security for such matters), involving directors or officers that should be disclosed in the financial statements.

xiv	All related parties have been identified to you and there were no transactions with
	related parties nor similar details of third parties in a position to exercise significant
	influence over the company which should be disclosed in the financial statements.
xv	There are no claims, legal proceedings, penalties or other matters which may lead to a
	loss falling on the company or which could result in the creation of an unrecorded
	liability, that should be disclosed in the financial statements.
xvi	The company has complied with all aspects of contractual agreements that could have
	a material effect on the financial statements in the event of non-compliance. There
	has been no non-compliance with requirements of regulatory authorities that could
	have a material effect on the financial statements in the event of non-compliance.
xvii	We are not aware of any instances of actual or possible non-compliance with laws
	and regulations which might affect the view given by the financial statements.
xviii	We have no plans or intentions that may materially alter the carrying value or
	classification of assets and liabilities reflected in the financial statements.
xix	We have no plans to abandon any service lines or other plans or intentions that will
	result in any excess or obsolete inventory, and no inventory is stated at an amount in
	excess of its estimated selling price less costs to complete and sell.
xx	No significant events having an effect on the financial position of the company have
	taken place since the balance sheet date which necessitate revision of the figures
	included in the financial statements or inclusion of a note thereto.
xxi	We have not adjusted the misstatements brought to our attention on the audit
	differences and adjustments summary, attached to this letter, as they are / immaterial
	to the results of the company and financial position at the year-end.
xxii	The following have been properly recorded and when appropriate, adequately
	disclosed in the financial statements:

• a) Losses arising from sale and purchase commitments.

• b) Agreements and options to buy back assets previously sold. c) Assets pledged as collateral.

xxiii There are no formal or informal compensating balance arrangements with any of our cash and investment accounts.

We have properly recorded or disclosed in the financial statements the capital structure of the company including capital stock repurchase options and agreements, and capital stock reserved for options, warrants, conversions and other requirements.

We recognise the importance of maintaining adequate accounting records for the purposes of compliance with the Companies Act 2006 and FRS 102.

The financial statements were prepared by IDS Chartered Accountants on behalf of the directors.

The financial statements have been fully explained to and discussed with us and we acknowledge that we are fully informed in accordance with the requirements for auditors contained in Ethical Statement 5 ‘ Non-Audit Services Provided to audited Entities (Revised) ’.

The directors have concluded that uncorrected financial statement misstatements are immaterial, both individually and in the aggregate, to the financial statements taken as a whole.

We have examined the attached schedule of unadjusted errors and approve its contents.

Yours faithfully

Samantha Russell

Samantha Russell (Mar 24, 2026 10:22:37 GMT) ~~_____~~

Elaine Dempsey (Mar 24, 2026 15:09:00 GMT) _____

Trustee

Trustee

2026-03-24

Full accounts-combined (2)

Final Audit Report

Created: 2026-03-20 By: Daniel McCaughey ([e-mail]) Status: Signed Transaction ID: CBJCHBCAABAAZ_7dnZEXNKd1L_0EOdsbHIWU_Kf6zBAt

"Full accounts-combined (2)" History

• Document created by Daniel McCaughey ([e-mail]) 2026-03-20 - 09:09:25 GMT

• Document emailed to [e-mail] for signature

2026-03-20 - 09:09:30 GMT

• Email viewed by [e-mail] 2026-03-24 - 09:10:03 GMT

• Signer [e-mail] entered name at signing as Samantha Russell 2026-03-24 - 10:22:35 GMT

• Document e-signed by Samantha Russell ([e-mail]) Signature Date: 2026-03-24 - 10:22:37 GMT - Time Source: server

• Document emailed to [e-mail] for signature 2026-03-24 - 10:22:39 GMT

• Email viewed by [e-mail] 2026-03-24 - 14:19:28 GMT

• Signer [e-mail] entered name at signing as Christina Murphy 2026-03-24 - 14:32:08 GMT

• Document e-signed by Christina Murphy ([e-mail]) Signature Date: 2026-03-24 - 14:32:10 GMT - Time Source: server

• Document emailed to [e-mail] for signature 2026-03-24 - 14:32:11 GMT

• Email viewed by [e-mail] 2026-03-24 - 15:07:01 GMT

• Signer [e-mail] entered name at signing as Elaine Dempsey

• 2026-03-24 - 15:08:58 GMT

• Document e-signed by Elaine Dempsey ([e-mail])

Signature Date: 2026-03-24 - 15:09:00 GMT - Time Source: server

• Document emailed to IDS Chartered Accountants LLP ([e-mail]) for signature 2026-03-24 - 15:09:02 GMT

• Email viewed by IDS Chartered Accountants LLP ([e-mail]) 2026-03-24 - 15:09:07 GMT

• Document e-signed by IDS Chartered Accountants LLP ([e-mail]) Signature Date: 2026-03-24 - 16:17:23 GMT - Time Source: server

• Agreement completed.

2026-03-24 - 16:17:23 GMT