Company reglstratlon number SC142782 (Scotlandl
Charty reglstration number SC021324 (Scotlandl
PORTREE NURSERY LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
A9 Accountancy Limited
Chartered Accountants
Elm House
Cradlehall Business Park
Inverness
IV2 5GH

PORTREE NURSERY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
TrLrs¢ees
H Fraser
C Macdonald
C Macdonald
A Mackinnon
L Seott-Tomney
R Simmisler
l Allinson
S Coughlin
C A Howitt
(Appointed 13 February 20261
{Appoinled 13 February 20281
{Appointed 13 February 20261
Kgy management
M Kean
Charity Registration number
SC021324
Company Registratlon number
SC142782
Registered offlce
Camanachd Square
Portree
Isle of Skye
IV519BW
Independent gxamlner
Hollie Mackay CA
A9 Accountancy Limited
Elm House
Cradlehall Business Park
Inverness
United Kingdom
IV2 5GH

PORTREE NURSERY LIMITED
CONTENTS
Page
Trustees, report
Stslement of trustees, responsibilities
Independent examinerfs report
Slalemenl of financial activities
Balance sheet
Notes to the financial statements
9-18

PORTREE NURSERY LIMITED
TRUSTEES, REPORT IINCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 28 FEBRUARY 2026
The trustees present their annual report and financial stslemenls for the year ended 28 February 2026.
The financi81 statements have been prepared in accordance wlh the accounting policies set OLrt in note 1 to the
financial slalements and comply with the charity's governing document. the Charrties and Trustee Investment
(Scotlandl Act 2005, the Charities Aecounls Iscollandl Regulations 2008 las amended) and "Accounting and
Reporting by Charities.. Statement of Recommended Practice applicable lo charf(ies preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021" (effective 1 January 20191.
Objectlves and activltles
The Nursery provides day care for children aged from birth lo 8 years and preschool education on beharf of
Highland Council. The nursery operates from settings. enabling us to provide 1140 hours of Early Learning and
childcare funding. The nursery al the year*nd had 78 children registered throughout ils three sections, Babies 19,
Movers 12-3 years) 24 and preschool 35. This was another very busy year, with nearly all sessions being full
capacity. The wailing Iisl for the baby room remains closed due lo bein9 full lo capacity.
The Nursery piovides a very friendly, stimulating and safe environment, enabling ehildrèn to devekjp in all the areas
of the curriculum. Each child is treated as an individual and encouraged lo be independent and free thinking whilst
loleraling the beliets and opinion5 01 others Day care costs are continuin9 to be kept as low as pLEsible and fees
have remained at £7 per hour during the year under ￿vIeW. Management have continued lo make Improvements
throughout the year, including enhancing outdoor spaces to support better play opportunities. New bathroom5 wère
installed in the middle room, allowing all children lo be cared for in one building during staff shortages. This supports
continuity, stronger peer relationships, and a more consistent learning environment. These updates have made
Portree Nursery Ltd safer, brighter, and more engaging for staff and ehildren. New resources are regularly added to
enrich activities, while trustees work closely wth staff to ensure finances are used effectively to keep improving the
Nursery .The Nursery lakes all reasonable steps lo meet the childcare iequirements of parents in a flexible way,
thus rnaking childcare more accessible and affordable lo parents. In providing preschool education, the Nursery
liaises closely with the local primary ￿h0O1, using the same ethos and golden rules and actively supporting children
in preparing for the transition lo school. We continue lo be able to provide funded childcare for eligible year
olds. This has been warmly aecepled by Portree Nursery Ltd allowing for the Nursèry lo offer ils services to a wider
variety of families in the community.
Our current priorities are..
to continue lo maintain the surpluses achieved over the past years
to irnprove staff salaries
to continue lo remain at a fair and affordable price for parents
lo continue lo improve the internal and extemal environment of the building
to continue to improve to achieve great reports from the Care Inspectorate
Achlevements and performance
Significant aclivities and achievements against objedives
The trustees and management acknowledge that there are things that can be done to improve our service and will
continue working towards these. Quality Assurance is lop priority as is developing the 4 outdoor areas that the
children have access to.
There was a Care Inspection al the nursery on 7th October 2025.

PORTREE NURSERY LIMITED
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Feedback from parents was positive and the inspectors commented that
Children experienced warm, consislenl care that supported their wellbeing.
Personal planning and routines promoted responsive. individua115ed care.
Strong partnerships wlh families enhanced children's experiences.
The movers room provided engaging and developmentally appropriate experiences for children which
supported their curiosity, independence, and early learning.
Development within the service is underway, with improvements evident, bul Continued focus is needed lo
aecelerale and sustain change.
The report scored..
Leadership = 2
Children play and learn - 3
Children are supported to achieve - 4
There was a Care Inspection al pre-school on 7th October 2025.
Feedback from parents was positive and the inspectors commented that
Children were safe, loved and secure In their attachments wlh staff.
Children were happy and settled in the nursery
Staff were kind, caring and nurtLJring in their Interaclions with children.
Staff had developed personal plans an¢J used the information in them lo support children and meet
their needs effectively.
Work had been done lo improve the layout of the playroom and the range of resources and
experiences available
Work was Still required lo improve the opportunities for play and learning outdoors.
The service shoulcj continue lo embed quality assurance systems and ensure this impacts positively
on all areas of practice
The report scored".
How good is our care play and learning? - 4
How good is our setting? = 4
How good is our leadership? =
How good 15 our staff team? =
Fundiaising has been limited due to a lack of events and volunteers lo attend events. A total of £1767.03 was raisi
this finanaal year. This was from the Skye agricultural show and the Christmas fair event organised by Light Up Por
We hope to see an increase in fundraising events over the next financial year. We were very lucky to receive a don,.
of £317.00 from Sub Skye, we also received £265.00 from donations from Anne Jolly's Funeral. This was gralE
received and we extend our thanks lo the local community for their support.
The Trustee5 will continue to Work with the Highland Cgunctl lo ensure the area around the nursery is a sale
welcoming environment for all who use the Nursery. This includes general maintenance and grass cutting of High
Council property around the nursery bLiilding.

PORTREE NURSERY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
The Nursery continues to focus efforts both inside and outside the propety, including maintenance and new
resources. Looking to the future the Nursery would like lo ￿place the flooring throughout the remaining roomslareas
of the building as we did not achieve this in the last finaneial year and we would like lo continue to update and
replace resources. The nursery would like to look at renewable energy sources and updating the heating systems.
The Nursery continues to take a variety of steps to achieve financial suslainabilily and lo avoid repealing the losses
of previous years. The Trustees leel that, while there is work still lo be done, the Nursery Contin￿9 to be far more
robust financially than previous years. Any subsequent surplus wll go towards future renovation and improving the
current nursery spats to allow us lo increase the spaces we are able lo offer since pre-school have moved
Another area of concern for the Trustees was staff salaries. The financial position of the nursery has now allowed
these lo be improved significantly and are pleased lo report significant improvements bringing all salaries
significantly above the living wage. Further increases will remain part of future planning, along with discussions on
bonuses to reffect staff perfomance and as a show of appreeiation.
The nursery has seen changes in staff with people leaving for pastures new. The Trustees are pleased lo see the
employment of new staff, and also current staff taking on new roles, extra training and challenges We are very
pleased lo have been able to offer staff the opportunity lo gain qualifications while working. Staffing continues lo
grow and the Trustees are happy lo offef these employment opportunities to the local community.
Flnancial review
During the year the charity made a deficit of £15,836 12025 - £33,034). Al the year end, the totsl reserves were
£192,8981£2025- £208.7341.
Reserves policy
The trustees acknowledge their responsibility lo ensure sufticient funds are available lo safeguard the nursery's
luture activities. The reserve policy of the charity is lo relain sufficient unreslncted funds equal lo three months
annual running costs which they eslirnate to be £50,000. The unrestricted income funds as al 28 February 2026
were £109,573 12025.. £121,548) and the liquid unreslricled funds represented by cash balances were £48,057
12025.. £55,396). The nursery has made significant steps lo improve reserves in recent years and the reserves level
has been achieved this year and in the prior year. The nursery is now in a strong position and will be careful going
forwards lo maintain reserves levels. It is their opinion that with careful management the funds avalable are
suffi¢ienl lo secure the continuing activities of the charity.
structure, governlneè and management
The nursery is a charitable company limited by guarantee whose directors are the Trustees and is governed by its
Memorandum and Articles of Association. This governing document imposes no reslriclions on the operation of the
nursery or the investment powers of the Trustees other than those imposed by company and charitable law.
The day to day operation of the nursery is delegated by the Trustees lo the manager Maria Kean Of 8ssistsnl
manager Cassandra Bethune in the context of policies and procedures approved by the Trustees which sel out the
required standard of good practice.
The trustees are responsible for..
Approving operational policie5 and procedures
Approving and reviewing the nursery's aims and objectives
Setting reserves policy
Setting pay and conditions of employment for all staff
Providing an annual appraisal of the Managerfs performance
Reviewing all aspects of the organis*ion's performance through the Manager's regular reports and
instructing changes where necessary.

PORTREE NURSERY LIMITED
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
The trLJslees, who are also the direetors for the purpose of company law, and who served during the year and up lo
the date of signature ol the financial slalemenls were..
H Fraser
C Macdonald
C Macdonald
A Mackinnon
K Macleod
L Scott-Tomney
R Simmisler
l Allinson
S Coughlin
CAHowitt
(Resigned 30 Octobèr 20251
(Appointed 13 February 20261
(Appointed 13 February 20261
(Appointed 13 February 20261
Recmitmenl and appointment of Imstees
In the year under review the nursery has 8 trustees, with the previous 1 temiinating at the AGM. It is expected that
the life cycle of trustees is short due lo children leaving the nursery and parents in turn leaving the Board. The
nursery still aims lo be an active Board delivering a supporting and rnore involved service for staff and parents alike.
New trustees are a￿ayS being sought from arnongsl the parents of children who attend the nursery and the wider
community. We continue lo actively encourage parents to be involved with Portree Nursery Ltd in a v*iely of forms.,
and this financial year il has been improved and great effort has been pul forward by all. We think this is due to a
increased use of social media to interact with the community as a whole. The nursery hopes lo relain and reeTuII
more trustees al theAGM this year.
New Iruslees are given a Directorfs hand out which details their responsibilities as a member and on each specific
role within the board i.e. Chair, Wi￿-Chair. Treasurer and Secretary. The hand out also contains guidance on
preparing reports and organising the AGM'S.
Risk management
The Trustees recognise their duly lo identify and review the risks lo which the charity is exposed and lo ensure that
appropriate controls are in place to provide reasonable assurance a9ainsl fraud and error. The Iruslees a
confident that these provide reasonable, bul not absolute, protection against material misslalement and loss.
The trustees, report was approved by the Board of Trustees.
R Simmisler
Trustee
Date..

PORTREE NURSERY LIMITED
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 28 FEBRUARY 2026
The Iruslees, who are also the directors of Portree Nursery Limited for the purpose of company law. are responsible
for preparing the Trustees, Report and the financi81 statements In accordance with applicable law and United
lfjngdom Accounting Stsndards IUnrf(ed Kingdom Generally Accepted Accounting Praclicel.
Company law requires the trustees lo prepare financial statements for each financial year which give a true and fair
view ol the stale of affairs of the charlty and of the incoming resources and application of resources. inclu(Jing the
income and expenditure, of the charitable company for that year.
In preparing these financial slalemenls, 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.,
slate whether applicable UK Accounting Standards have been followed, subject lo any material departures
isclosed and explained in the financial statements., and
prepare the financial stalernenls on the going concern basis unless it is inappropriate lo presu￿ that the charity
will continue in operation.
The Iruslees are responsible for keeping adequate a¢￿￿ntIng records that disdose with reasonable accufacy at
any lime 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 anct hence lor taking
reasonable steps for the prevention and detection of fraud and other irregularities.

PORTREE NURSERY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF PORTREE NURSERY LIMITED
I report on the financial statements of the charity for the year ended 28 February 2026, which are set out on
pages 7 10 18.
Respectlve responsibilities of trustee$ and examlner
The charity's Iruslees, who are also the direetors of Portree Nursery Limited for the purposes of company law, are
responsible for the preparation of the financial slalements in accordance wth the terms of the Charities and
Trustee Investments (Scollandl Act 2005 and the Charities Accounts (Scotlandl Regulations 2008. The trustees
onsider that the audit requirement of Regulation 1011llal to Icl of the 2006 Accounts Regulations thjes not
apply. It is my responsibility lo examine the financial statements as required under sects'on 4411llcl of the Act and
to slate whether particular matters have come lo my attention.
Basis of Independent examlnerfs statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An
examination includes a review of the accounting records kept by the charity and 8 comparison of the financial
slalemenls Presented wth those records. It also includes consideration of any unusual Items or disdosu￿s in the
financial slalemenls, and seeks explanations from the trustees concerning any such matters. The Pro￿dureS
undertaken do not provide all the evidence that would be required in an audit and consequently I do not express
an audit opinion on the view given by the financial stslemenls.
Independent examiner's ststement
In connection with my examination, no matter has come to my attention..
lal which gives me reasonable cause lo believe that in any material respect the requirements..
to keep accounting records in accordance with section 44111 lal of the 2005 Act and Regulation 4 of
the 2006 Accounts Regulations,. and
lill to prepare financial statements which accord with the accounting records and comply with Regulation
8 of the 2006 Accounts Regulations..
have not been mel or
Ibl lo which, in my opinion, attention should be drawn in order lo enable a proper understanding of ltr
financial statements lo be reached.
Hollie Mackay CA
Elm House
Cradlehall Business Park
Invemess
IV2 5GH
United Kingdom
Dated..

PORTREE NURSERY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 28 FEBRUARY 2026
Unrestricted Re$trlcted
funds
funds
2026
2026
Total Unreslrlcted Restricted
funds
funds
2025
2025
Total
2026
2026
Notes
Income from:
Charitable activities
Investmen15
441,041
791
441,041
791
416,232
1,203
416,232
1,203
Total income
441,832
441,832
417,435
417,435
Expenditure on:
Charitable activities
453,807
3,861
457,668
446,608
3,861
450,469
Total expenditure
453,807
3,861
457.668
446,608
3,861
450,469
Ngl expenditure and
movement in funds
111.9751
13,8611
{15,836}
129,1731
13,8611
133,0341
Rgconciliation of funds-
Fund balances at 1 March 2025
121.548
87.186
208,734
150,721
91,047
241.768
Fund balanc9$ at 28 February
2026
109,573
83,325
192,898
121,548
87,186
208,734
The slalemenl of financial activities inclLsdes all gains and losses recognised in the year. All income and expenditure
derive from continuing aclivilies.

PORTREE NURSERY LIMITED
BALANCE SHEET
ASAT 28 FEBRUARY 2026
2026
2025
Notes
Fixed assets
Tangible assets
11
131,751
137,300
Current assets
Debtors
Cash al bank and in hand
12
23,256
48,057
24,453
55,396
71,313
79,849
Credltors- amounts falllng due within
ong year
13
110,1661
18.4151
Net current assets
61.147
71,434
Total assets leys current Ilabllltles
192,898
208.734
The funds ofthe charity
Reslricled income funds
Unreslricled funds
16
17
83,325
109,573
87,186
121.548
192,898
208,734
The company is enlilled lo the exemption from the audit requirement contained in section 477 of the Companies Act
2008, for the year ended 28 February 2026.
The ￿1￿Clor5 acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accountin9 records and the preparation of financial slalements.
The members have not required the company to obtain an audit of ils financial slalements for the year in question in
accordance with section 476.
These financial stslemenls have been prepared in accordan¢e with the provisions applicable lo companies subject
to the small companies regime.
The financial statements We￿ approved by the Iruslees on .
.1 l jh.l-i
R Simmisler
Trustee
Company registration number SC142782 (Scollandl

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2026
Accounting pollcles
Charlty Snfomiatlon
The charity is a charity limited by guarantee and consequenly does not have share ¢apitsl. Each of the
Trustees is liable to contribute an amount not exceeding £1 towards the ossels of the charity in the event of
liquidation.
The address of ils registered office is..
Camanachd Square
Portree
Isle of Skye
IV51 9BW
1.1 Basis of preparatlon
The financial slalements have been prepared in accordance with the charity's Memorandum and Articles ol
Association, the Charities and Trustee Investment Iscglandl Act 2005. the Charities Accounts (Scollandl
Regulations 2006 las amended), FRS 102 'The Financial RepL)rting Standard applicable in the UK and
Republic of Ireland" l FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities.. Slalement
of Recommended Practice applicable lo eharilies preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. 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 Ststanent of
Cash Flows.
The financial slalemenls are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial slalemenls are rounded to the nearest £.
Portree Nursery Limited meets the definition of a public benefit enlily undei FRS 102. Assets and liabilities are
initially recognised 8t historical cost or transaction value unless otherwise ststed in the relevant accounting
policy notes
1.2 Going Concern
At the lime of approving the financial slalements, the Iruslees have a reasonable expectation that the charity
has adequate resources lo continue in opeTalional existence for the foreseeable future. Thus the trustees
continue to adopt the going concem b8515 of accounting in preparing the finanoal statements.
1.3 Charitable funds
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance
of the objectives of the charity.
Reslricled income funds are those donated for use in a particular area or for speclfic purposes, the use of
which is restricted to that area or purpose.
1.4 Income
Income is recognised when the char￿ty is legally enlilled to it after any performance conditions have been mel,
the amounts can be measured reliably, and rt is probable that income will be received.
Grants, including government grants, donats'ons and income from nursery fees are usually recognised once
eceivable, unless performance related conditions satisfy early fecognition or deferral of the income.

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Accountlng policies
Icontlnuedl
Defe￿d income
Deferred income represents amounts re¢eived for future periods and is feleased lo incoming resources in the
period for which, it has been received. Such income is only deferred when..
The donor specifies that the grant or donation must only be used in the future aecountsng periods., or
- The donor has imposed conditions which musl be met before the charity has unconditional enlillemenl.
Investment income
Interest on funds held on deposf( is included when receivable and the amount can be measured reliably by the
charity., this is normally upon notification of interest paid or payable by the Bank.
1.5 Expenditure
Expenditure is recognised once there is a leg81 or constructive obligation lo that expenditure, il is probable
settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable
expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed to
particular headings they have been allocated on a basis consistent with the use of resources, with ￿ntral staff
costs allocated on the basis of time spent, and depreciation eharges allocated on the portion of the asset's
use. Other support costs are allocated based on the spread of staff costs.
Chaiitablg activities
Charitable expenditure eompromises those costs incurred by the charity in the delivery of ils actNilies and
services for ils beneficiaiies. It indudes both costs that can be allocated directly to such activities and those
costs of an indirect nalufe necessary lo support them.
Support costs
Support costs include central funelions and have been allocated lo activity cost categories on a tQSiS
consistent with the use of resources. for example, allocating property costs by floor areas. or per Capila, staff
costs by the lime spent and other costs by their usage.
G0veMan￿ costs
These include the costs attributable lo the ¢harty's compliance with conslilulional and statutory requirements.
including audit, strategic management and trustees meetings and reimbursed expenses.
1.6 Tanglble flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, nel ol
depreGialion and any impairmenl1055es.
Depreciation is recognised so as lo wri(e off the cost or valuation of assets less their residual values over their
useful lives on the following bases.
Freehold interest in land and buildings
Fumiture and equipment
2% straight line
20°h 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 slalement of financial activrtie5.
10-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Accountlng pollcles
Icontlnuedl
1.7 Impalmient of fixed assets
Al each reporting end date, the charity reviews the carrying amounts of ils tangible assets to determine
whether there is any indication that those assets have suffered an impaimient loss. If any such indKalion
exisls. the recoverable amount ol the asset is estimated in order to detemiine the extent of the impairment
loss lif anyl.
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash In hand, depgsils held al call with banks, other short-lerm liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowngs in current liabilities.
1.9 Flnancial instrumgnts
The charity has elected lo apply the provisions of Section 11 'Basic Financial Inslrumenls, and Seth'on 12
'other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charit￿5 balance sheet when the charity becomes party lo the
contractual provisions of the instrument.
Financial assets and liabilities are oftsel, wth the nel 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 settie on a nel
basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basie financial assets, which include debtors and cash and bank balances. are initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest rnelhod unless the arrangement constitutes a financing transaction, where the transaction is
measured al the present value of the future receipts discounted al a market rale of interest. Financial assets
lassified as receivable within one year are not 8mortised.
8aslc financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement conslitules a financing transaction, where the debt instrument is measured at the present
value of the futtjre payments discounted al a market rale of interest. Financial liabilities dassified as payable
within onè year are not amortised.
Debt instruments are subsequently carried al amortised cost, using the effective interest rale method.
Trade creditors are obligations lo pay for goods Of serv1￿5 that have been acquired in the Ordinary course ol
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-currenl liabilities. Trade creditOTS are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of fJnan¢ial IlabiliÉies
Financial liabilities are dereco9nised when the charty's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday enlillemenl is recognised in the period in which the employee's services are
received.
Temination benefits are recognised immediately as an expense when the charity is demonstrably committed
lo lerminale the employment of an employee or lo provide termination benefits.
11

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Accounting pollcles
(Contlnuedl
1.11 Retlrement benefits
The charity operates a defined contribution pension scheme which is a pension plan under which fixed
contributions are paid into a pension fund and the charity has no legal or constructive obligation lo pay further
contributions even rf the fund does not hold sufficient assets lo pay all employees the benefits relating lo
employee service in the cuNenl and prior periods.
Contributions lo defined contribution pension plans are recognised in the Statement of Financial Activities
when they are due. If contribution payments exceed the contribution due for service. the excess is recognised
as a prepayment.
Critical accountlng estlmates and Judgements
In the application of the charity's accounting policies, the trustees are required lo make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The eslimale5 and associated assumptions are based on historical experience and other factors th*
are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underfying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects cnly that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income from charltable activities
Unrestrlcted Unrestricted
fund$
funds
2026
2025
Charltable actlvities
Fee income
Donations
Highland council- p￿sChool grant
Fundra15ing activities
Other income
218,058
582
220,177
1,182
1,042
206,983
2,200
205.976
1,073
441,041
416,232
Incomè from investments
Unrestricted Unrestricted
funds
funds
2026
2025
Interest receivable
791
1,203
12

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Expendlture on charitable a¢llvltles
CharEtable
actlvlties
2026
Charitable
activities
2025
Dlrect costs
Staff costs
Depreciation and impairment
398,204
7,178
379,513
7,388
405,382
386.901
Share of Support and governance costs (see note 6}
Support
Governance
49.154
3,132
60,518
3,050
457,668
450,469
Anatysis by fund
Unreslricled funds
Reslricied funds
453,807
3,861
446,608
3,861
457,668
450,469
In addition to the expenditure analysed above, there are also 9ovemance costs of £3, 132 12025 £3,0501
which relate tjireclly lo charitable aclivilies.
13-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Support costs allocated to activities
2026
2025
Materials and equipment
Rent and rates
Li9ht, heal and Power
Insurance
Repairs and renewals
Telephone and fax
Printing, postage and ststionery
Trade subscriptions
Hire of other assets
Catering
Govemance costs
Sundry expenses
Cleaning
Advertising
Staff training
Bank charges
Fundraising expenses
Bad debts
4,698
8,275
{1,6901
3,481
5,712
1,492
1,591
5.734
5.095
5,801
3,132
1,164
6.909
5,672
7,457
5,212
3,298
3,736
1,728
1,9
5.482
5,943
6.350
3,050
1,531
3,052
358
4,210
550
429
3,514
543
349
52,286
63,568
Analysed between:
Charitable activities
52,286
63,568
2026
2026
Gov8rnanco costs comprlse:
Independent Examinerfs remuneration
3.132
3,050
3,132
3.050
Independent 9xamlnefs fee
2026
2025
Examination of the finanaal stslements
3,132
3,050
Trustees
None of the Iruslees lor any persons connected with them) received any remuneration or benefits from the
charity during the year.
14-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
Employees
The monthly average number of persons linduding senior managemenv leadership team} employed by Ihe
charity during the year expressed as ftjll time equivalents was as follows..
2026
Number
202S
Numbgr
Administration
Daycare
Preschool
Carer 1..1
Cleaner
11
Total
20
21
Employment Costs
2026
2025
Wages and salaries
Social security Costs
Other pension costs
349,629
38,338
10,237
343,417
25,326
10,770
398,204
379,513
1312025- 131 of the above employees partiapaled in the Defined Contribution Pension Schemes.
The lolal employee benefits of the key management personnel of the charity were £42,00412025- £26,354).
Tttere were no employees whose annual remuneration was more than £60,000.
10 Taxation
The charity is exempl from taxation on ils activities because all its income is applied for ch8rrtable purt)oses.
15-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
11 Tanglble fixed assets
Freehold Fumfjture and
Interest In land
equlpxnent
and bulldlngs
Total
Cost
Al 1 March 2025
Additions
235,597
73,217
1,629
308,814
1,629
Al 28 February 2026
235,597
74.846
310,443
Depreciation and impaimignt
At 1 March 2025
Depreciation charged in the year
109.053
4,712
62.461
2,466
171,514
7,178
At 28 February 2026
113,765
64,927
178.692
Carrying amount
Al 28 February 2026
121,832
9,919
131,751
Al 28 February 2025
126,544
10,756
137,300
12 Debtors
2026
2025
Amounts falllng due within one year:
Trade debtors
Other deblors
256
23,000
1.453
23.000
23,256
24,453
13 Creditors: amounts falllng due within one year
2026
2025
Notes
Deferred income
Trade creditors
Other creditors
Accruals
14
7,316
313
67
2,470
3,092
905
2,068
2,350
10,166
8,415
14 Deferred incorn8
2026
2025
Other deferred income
7.316
3,092
16-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
14 Deferred income
(Continued)
Deferred income is included in the financial slalemenls as follows..
2026
2025
Deferred income is included wlhin..
Current liabilities
7.316
3,092
Movements In the year..
Deferred income at 1 March 2Q25
Released from previous periods
Resources deferred in the year
3,092
13,092)
7,316
1,636
11,6361
3,092
Deferred income at 28 February 2026
7,316
3,092
Deferrèd income relates lo nursery fee income received in advance.
15 Rellrement benefit schemes
2026
2025
Defined contrlbutlon schemes
Charge to profit or loss in respect of defined contribution schemes
10,237
10,770
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.
16 Restricted funds
The restricted funds of the charity relates lo fixed assets and is released annually over the lifetime of the
assets.
At 1 March
2025
Resources
At28
expendedFebruary 2026
Restricted funds
87,186
(3,8611
83,325
Provlous year:
At 1 March
2024
Resources
At28
expended Fobruary 2025
Reslncted funds
91.047
{3,861)
87.186
17-

PORTREE NURSERY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2026
17 Unrestrictpd funds
At 1 March
2025
Incoming Rgsources
At28
resources
expendedFebruary 2026
General funds
121,548
441,832
{453.8071
109,573
Prevlous year:
At 1 March
2024
Incoming
resources
Resources
At28
expended February 2025
General funds
1 SO,721
417,435
{446.6081
121,548
18 Analysls of net assets betsveen funds
Unrestricted
fund$
2026
Rgstrlcted
funds
2026
Total
2026
At 28 February 2026:
Tangible assets
Current asselsllliabilitiesl
48,426
61,147
83,325
131,751
61.147
109,573
83,325
192,898
Unrestricted
funds
2025
Restrlcted
funds
2025
Totsl
2025
At 28 February 2025..
Tangible assets
Current assetsl{liabililiesl
50,114
71,434
87,186
137,300
71,434
121,548
87,186
208,734
19 Related party transactions
During the year the Trustee5 paid £18,71012025 - £18.1961 for childcare on a commercial ami's length basis.
Al the balance sheet dale the amount due from trustees was £31212025- £8951.
18-