Charity restratiOn number: SC023360 Muirton Community Nursery Annual Rep)rt and Financial Statements for Year Ended 31 March 2025 MolS & Youn& Statutory Auditsir Chartered Accounwits 6 Atholl Crescent PERTH PHI 5JN
Muirton Community Nursery Contents (continued) Reference and Administraiive Details Management Committee's Report 2to8 Sialement of Management Committee's Responsibilities Independent Auditors, Report Ioto 13 Statement of Financial Activities 14 Balanee Sheet 15 Notes to the Financial Statements 161029
Muirton Community Nursery Reference and Administrative Details Management Commit¢ee Senior MngemtDt Team Cbarity Registratlon Number SC023360 Prlnclpal Offlee Gowans Terrace PERTH PHI SAX Auditor Morris & Young. Statutory Auditor Chartered Accountants 6 Atholl Crescent PERTH PHI 5JN Sollcllo Elliot & Company WS 8 Charlotte Street PERTH PHI 5LL Page I
Muirton Comrnunity Nursery Management Committee's Report The Management Committee presents the annual report together With the financial siatemenls of the cbarity for th¢ year ended 31 March 2025. The financial staiem¢nts have been prepared in acLordance with the accouniing policies sel out in noie I lo the finanLial statn)cii(s and Lornply wilh applicable law and ihe Siaiemeni of Recommended Pra¢tic¢ "Accounting ond Rcportins by Chariti¢3" applicablc to Charilies prcparing ih¢ir a¢counis in aLLordani¢ with Ih¢ Financial Reportinbi Siandard appli¢abl¢ in th¢ UK and Rcpubli¢ of Ireland (FRS 102) (¢ff¢cliYe l January 2019). Structure, governAnee And mgnagemenl Orz4nisadonal.ftruelure Th¢ Nutscry li ¢in ullinLvrpvriiL#d Lhdriiy. number SC023360. fonned ai a Public Meering on 3 May 1994. The ehariiy is run by a Mana8ement Committcc ¢lected at th¢ AiiI)ual G¢ii¢ral M¢etiii¥ wlio ni¢¢i r¢8ul8rly. generally monthly. The Projccl Manogcr and MJnJg¢mcnt Assistant al$0 attcnd ih¢sC tncctinss. Th¢ Management Commiltee is lar8ely made up of parents of children who atlend the nursery. The Managemeni Conunittee who served during the year. was &8 follows.. MAnAgement Committee athre ojgoverning documenl The charity 1$ govemed by its Constilution and Rules. Reernithenl qnd appoinlmeM¢ ofmanagement Committee All parents are invited lo pui themselves forward for election at the Annual General Meeting. Page 2
Muirton Community Nursery Management Committee's Report (continued) Induction and training ofmanagement Committee Prior to the first Management Committee meeting after the Annual General Meeting the Manager meets with any new meTnbers and ourlines the history of the project and explains the current situation. She also explains the roles and responsibilities of committee members and office bearers. Office bearers are then elected al the first meeting and are given a written job description. At ea¢h committee meeting the Manager gives an update on project activities and the Management Assistsnt gives a financial report. Any decisions that have to b¢ made regarding policy or any aspe¢t of project services are tsk¢n by general consensus. Major risks andman4gemen( ofihose risks The rnajor risk is that the business becomes unsustainable due to a considerable fall in the number of children attending and not being able to r¢cruil new children. A further risk is losing staff to the local authority who are able to provide more favourable tern and conditions. The management of thts includes.. Paying staff the Scottish Living Wage. We believe this will help us lo retain staff th¢reby ensuring a stsble staff team which is benefi¢ial lo the children. Actively promoting the nursery. R¢lying on word of mouth- parents telling people about us and recOMerldlns us lo people who are looktng for a nursery place for their child. Relying on our flexibility as no other setting in the area provides flexible care. Objectives and activities Objects and #ims The charity's objects are set up in its Constitution and Rules being to relieve poverty, advance education arEd promote the welfare of families by providing full and part-time early learning and childcare. Priority has to be given to residents of the North Perth area. Page 3
Muirton Community Nursery Management Committee's Report (continued) Objectives, str4tegies and activitie5 In furtherance thereof the nursery's objectives are.. A comprehensive range of policies are adopted in furtherance of thex objects including an Athnissions Poli¢y which details project aims. criteria for admission, registration, allocation of pla¢es, staff/child ratio and priority places. All policies are reviewed regularly. Activities during the year are summarised below.. Staffing conlittued to be stable. W¢ continued lo implement the staff incentive scheme and again staff sickness was manageable. We reviewed all policies and procedures and these w¢r¢ amended as required following advice from Perth & KiDross Council. Copies of all policies were read by all staff and copies w¢r¢ available to parents. We introduced the following new poli¢kes'. Children's Health and Wellbeing Poliey Staff Mental Health and W¢llbeing Policy Food Allergy Policy Use of Mobile Device5 Our Early Years Family L¢arning Pra¢tilion¢r ¢ontinu¢d to work alongside us. She worked with some of our parents throughout the year. She also led very successful Book Bug sessions with an increasing number of parents joining these with their child. and a 6 week session on Play on Pedals which resulted in some children being able to ride a two-wheeled bicycle. We continued to work in partnership with Education & Children's Services and other agencies including Early Years Inclusion Service, Speech and Language Therapy, Occupational Therapy. We received support from Edu¢alion & Children's Services as part of our contract with them. OUF Support Teacher contiuucd to visit regularly to provide support in the playrooms and updates on best practice. A teacher from Early Years Inclusion Service and I practitioner continued to provide support and strategies for working with children who have additional support needs. We continued to make improv¢Tnents to the building. Artificial grass was installed in our Rainbow Room outdoor area, the height of the fence was increased in the main room play area to ensure the safety of children. We also installed blinds on the windows in the main playroom and both quiet roorns. We recruited 3 new Management Committee members. Page 4
Muirton Community Nursery Management Committee's Report (continued) Aehievements and perfornTance We continued lo receive positive feedback and guidance from visiting improvement officers and support teachers from P¢rth & Kinross Council Education & Children's Services and took any suggestions on board. We continued io use Developmentsl Milestones trackers issued by Perth & Kinross Council Education and Children's Services to track children's developmental milestones and used the results to tnforni our planning for children's needs. Staff attended a Comprehensive variety of waining courses in¢ludin8: Food Hygiene . Emergency First Aid at Work including Emerg¢n¢y Paediatric First Aid • Early Years Nurture Piloi Programm¢ Safe Staffing • HMRC Whal is Pay for National Mtnimum W88¢ PuTPOS¢S 0-3 Being Me in PKC • Makaton Senior Practitioner Development Prograrnme . Communication Champion Emotion Works • ELC Improvement Programme Peer Group Sessions . Loose Parts Child Proiection • Teaching Children to Listen Senior staff altended Funded Provider Meeiings. Improvement Planning meeiings, and kept up lo dale with any hanges in legislation and best practice. This included updated Setting the Table which is Nulriiional Standards and Practical Guidance for Early L¢arnin8 and Childcare Providers in Scotland. This needs io be put in practice by Augusl 2025. We continued to run at full Capacity with 90 children from 84 families *Ing our rVices. The children continued to be happy, engaged in their l¢aming and celebrated various events throughout the year. We held a fimdraising Quiz Nigbi io enable us ¢0 bod a 30th birthday celebration in June 2025. We continued to regularly visit Strathtay House Nursing Home to entertain and work alongside ihe residents. We continued to use various strategies to support children with additional support needs. We gained our Emotion Works Bronze Award and are currently working towards the Silver Award. We gained a certificate for participation in the Early Years Nurture Progrdmme and learning from this is being incorporated into daily use. Flnan¢i31 reiryew The accounis for the year ended 31 March 2025 show net incoming resour¢¢s of £21.484 {2024 - net outgotng resources of £15,680). Page 5
Muirton Community Nursery Management Committee's Report (continued) Policy on reserves It is the policy of the charity that unrestricted Funds which have noi been designated for a specific use should be mainiained at a level to provide sufficient income to allom. the charity lo pursue its objectives. The balance held as unrestricted funds at 31 March 2025, excluding designated funds, was £81,13712024 - £55,362). The charity has designated fvnds of £26,325 (2024 - £30,616) whi¢h represents the fed assets of the charity and is subject 10 movements through acquisition of new assets, disposals or through depreciation. Plans for future periods Continue to support OLir children and families. Continue with OLEr prograrnme of environmental improvements. Ensure appropriate staffing levels. Continue lo provide opportunities for siaff to attend appropriate training to eDsur¢ they increase their knowledg¢ and meet the registration requirements of Scottish Social Services Council. Work on improving the quality of observations and identifying next steps in learning. Continue to work with our Support Teacher and our Early Years Family Learning Practitioner. R¢cThil new Management Conunittee membeTS. Increase the percentage of children meeting their attention developmen(al milestone. Increase the ability of stsff to reflect on how key documents have impacted their practice to improve outcomes for children. Increase ehildren's dItal skills. Page 6
Muirton Community Nursery Management Committee's Report (continued) Fln4ncial illstruments Objec¢ives andpolicies The Charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The Management Committee has assessed the major risks lo whkch the charity is exposed and is satisfied that systems are in place to mitigate its exposure lo the major risks. Ca5hflow risk The Management Committee has retained sufficient cash resources to meei ihe immediate requirements of the charity. Credil risk The Charity's principal financial assels are bank balances and cash, and oiher receivables. The Charity's ¢r¢dit risk is primarily attributable lo its other receivables. The amounts presented in the balance sheet are nel of allowances for doubtful receivables. An allowance for impairment is made wh¢r¢ Ihere is an identified loss event which, based on previous experience. is evidence of a reduction in the recoverability of the cash flow5. The credit risk on liquid ndS is limited because the ¢ounletparties are banks with high credil-ralings assigned by international credil-raling agencies. Liquidity risk In ord¢r to maintain liquidity to ensure that sufficienl funds are available for ongoing operations and fulure developnienls, the Charity's liquid funds are kept in a cornbination of non-interest bearing and inleresi bearing bank accounts to enable it to service its everyday financial needs. Going concern The charity received funding as a Funded Partner wilh Perth & Kinross Council Education & Children's Services. From April lo July 2024, we received funding of £6.0 I per hour per child for 1140 hours per year. This equates to 30 hours per week during term time or 24 hours per week over the 48 weeks per year that the nursery is open. This was increased ¢0 £6.15 per hour p¢r Child from I st August 2024. We were also able to offer fvnded placements for Strong Starts al £6.23 per hour per child from April to July 2024. Thi5 was increased lo £6.37 per hour from Isl Augu512024. We received £3 per child per day from Perth & Kinross Education & Children's Services for the provision or lunch and snack to funded children. We also received £0.584 per Child per day to provide healthy snack and milk. We were still able to provide pla¢¢menls for children aged 2-3 and also wraparound care for funded children who need longer hours. This was charged at the cosl of £6 per hour per child and £3 per day for lunch and snack if requir¢d. We were running at near capacity during the period l April 2024 to 31 December 2024 and al fiLII capacity from l January to 31 March 2025. As a requirement of our funded partner contract, we will continue to pay ¢hild¢are stsff the Scottish Real Living Wage. Pag¢ 7
Mulrton Communlty Iyursery Management Committee's Report (continued) Digclo8ure of Informatlon tL) audltor Ea¢h member has taken Steps thai they oughi lo have taken as a rnernber in order to make Ihemselves aware of any relevani audit infoml10n and lo establish Ihal the charity's auditor is awa of that inforn)ation. The Managernenl Committee confirni thai there is no rcl¢vanl infomation that they know of and of wh]ch they know the audiior is unaware. The annual report was approved by the Management Committee of the ¢harity on 17 September 2025 and signed on ils behalf by.. Tn]gtee (Chair) Page 8
Muirton Communitv Nursery Statement of Management Committee's Responsibilities The Management Committtt are responsible for preparing the Managemcnt Committee, report and the financial statements in accordance with the United Kingdom Accounting Sthndards (United kn"ngdom Generally Accepted Accounting Practice) and applicable law and regulations. The law applicabl¢ lo ¢hari(ies requires the Managemeni Committee to prepare financial statements for each financial year which giv¢ a true and fair view of the stale of affairs of the cFthrity and of the incoming resources and applicatton of resources of the chan.ty for thai period. In prepanng these fuwicial statements. the Management Committee are required io: select suitable accounting policies and then apply th¢m Consistently; observe the methods and principles in the Chan"ti¢s SORP; make judgements and estimates thai are reasonable and pnmlent" state whether applicable accoulliing standards bale been followed. subjwt to any malerial departtwes disclosed and explained in th¢ financial ststanents: and prepare the finan¢ial statements on the going concern basis unless il is inappropriate to presume thai the charity will continue in bsinesS. The Management Committee ar¢ r¢sponsible for keeping proper accounting records that disclose with reasonable ac¢uracy at any time the financial position ofthe charity and enable them to ensure that the finan¢ial statements comply wryih the Chan'ties and Trusiee Investtneni (Scotland) Act 2005. the Charity Accounts Iscotland) Regulations 2006 las amended). and the provisions of the consiilulion. The Management Commiitee are also responsible for safeguarding the assets of the clwity and for tsking reasonable sieps for the prevenlion and deieciion of fraud and other trregularili¢s. Page 9
Muirton Community Nursery Independent Auditor's Report to the Members of Muirton Community Nursery Opinion We have audited the financial statements of Muirton Community Nursery (the 'charity') for the year eDded 31 March 2025. which comprise the Siaiemeni of Financial Activities. Balance Sheet, and Notes to the Financial Statemenis. including a summary of significant accounting poltcies. The financial reporting frdm¢work that has been applied in thekr preparation is United Kingdom Accounting Standards. comprising Charities SORP - FRS 102 The Financial Reporting Standard appli¢able in the UK and Republi¢ of Ireland, and applicable law {Uniled Kingdom Generally Accepted Accouniing Practice). ITh our oplnion the fmaDcial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its results 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 requirernen of the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotlat) Regulations 2006 las amended). Basis for opinion We conducted our audit tn accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilitie5 under those standards are further described in the Auditor's r¢sponsibiliiies for the audit of the fancIal statemenis seciion of our fqM)rt. We are independent of the charity in accordance th the ethical requirements that are relevant to our audii of the financial stalements in th¢ UK, including the FRC'S Ethi¢al Standard, and we have fulfilled our other ethical responsibilities in accordan¢¢ Thith these requirements. We belteve that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinion. Conclusions rel2ting to going concern In auditing the financial staiements, we have concluded that the Management Committtt's, use of the going concern basis of accounting in the preparaiion of the financial statements is appropriate. Based on the work we have perfomled. we have noi identified any maierial uncertainties relating to events or conditions that, individually or collectivelv, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve rnonths from wb¢n the financial slaiemenis ate authorised for issue. Our responsibilities and the responsibilities of the Management Committee with respect to going concern are described in the relevant s¢ciions olthis report. Other illfomation The Management Committee are responsible for the other information. The other infornution comprises the information included in the annual report, other than the financial statemenrs aud our auditor's report thereon. Our opinion on the fmancial statements does not cover the other Infor[ation and. ex¢¢pt to the extent othenvise explicitly stated in our report. we do not express any forni of assurance conclusion thereon. Page 10
Muirton Communitv Nursery Independent Auditor's Report to the Members of Muirton Community Nursery (continued) In connection with our audit of the financial statements. our responsibility is to read the other inforniation an in doing so, consider whether the other infornuiion is materially inconsistent Mith the fuwicial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi&staiemettts. we are required to determine hether there is a material misstatemeni in the financial stsiements or a material misststement of the other information. If. based on the work we have perfonned, we conclude that there is a tnatrrial rni&statement of this other inforntion. we are required to report that fact. We have nothing to rert in this regard. Matters on whieh we are required to report by eIception In the lighi of our knowledge and understanding of the charity and its environment obtained in th¢ course of the audit, we have not ideniified material missthtements in the Management COU1tte¢'s Report. We hav¢ Dothin8 to report ID respect of the following matters where the Clwitics Accounts (Scotland) Regulations 2¢XJ6 (as amended) requires us to report lo you if. in our opinion: adequate a¢countin8 records have not been kepl or rell adequa for our audit have not been received from branches noi visiied by us: or the financial staments are not in agreement with th¢ a¢Un8 r¢cords and returns: or ertairk di10$ureS of Management Committee remuneration specified by law are not made; or we have not received all the infornwiion and explanaiions we require for our audit. ResponsSbillti¢s of Mn#eem¢nt Commltttt As explained more fully in the Statement of Management Committee's Responsibilitie5 (set oul on page 9). the Management Committee are respotL8ible for the prepardtion of the financial stslennts and for being satisfied that they give a true and fair view. and lor such iniernal contToI as the Managemeni Committee delemiine is necessary to enable th¢ preparation of finwKiaJ slatements thai are free from malerial misslat¢m¢ni. wh¢ther due to fraud or error. In preparing ihe financial ststements. the ManageuKnt Committee are resnsIble for assessing the charity's ability to continue as 8 going concern. disclosing. as applicable, matters related to going concern and using Ihe going concern basis of accouniing unless the Management Committee either intend to liquidat¢ the charity or to cease operations, or have no realistic aliernative bui to do so. Auditor Responsibilities for ihe 4udil of ihe fancial stattn*nts Our objectives are to obtsin reasonable assurance about whether the financial ststrments as a whole are free from material misstatement, whether due to fraud or ertor. and io issue an auditor's report that includes oui opinion. Reasonable assurance is a high level of assuTance. but is not a guardntee that an audtt conducted in accordance with ISAS (UK) TrI1 always detect a tnateriai missthiement when it exists. Misstalements can arise from fraud or error and are considcred matrrial if. IJ)dii'idually or in the aggregale. they could reasonably be expected to influence the economic decisio8 of lerS thken on the basis of th¢s¢ fmancial statements. Pagell
Muirton Community Nursery Independent Auditor's Report to the Members of Muirton Community Nursery (continued) Extenl to which the audit WAS considered capAble of detecting irrcgularities, in¢ludiDg fraud We identify and assess the risks of material misstatem¢nt of the financial statements, whether due lo fraud or error. and then design and perfonn audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriaie lo provide a basi& for our opinion. Identlfylng #nd &s5esslng potentS01 risks related to Irregularltles Irr¢gularities. including fraud. ar¢ instances of non-compliance with laws and regulations. We d¢sign pro¢edures in line with our re5ponsibiliti¢s, outlined above, to delecl material misslalemenis in respect ol irregularities. including fraud. The extent to which our proc¢dur¢s are ¢apabl¢ of delecting irregularities. including fraud is detailed below.. the nature of the regulated sector, control environment and understanding of the enlity in¢ludin¥, but not restricted to, the understanding that ihe Management Committee are not remunerared, and the prevalence of fraud in the seilor especially in the Lurrent unLerlaiii eLDnomiL environment., results of our enquiries of the Managemenl Committee about their own identification and assessment of the risks of irr¢gulariti¢s: any matters we identified having obtained and reviewed th¢ Charity's documentation of their policies and procedures relating lo.. identifying, cvaluaiing and complying with laws and regulations and whether they were aware of any instances of non-complian¢¢- deleiting and responding lo the risks of fraud and whether they have knowledge of any actual. suspecled or alleged fraud: the internal controls established to miligale risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedur¢s. we considered the opportunities thai may exist within the organisalion for fraud and identified the greaiest poienlial for fraud in relation to revenue recognition and overslalement of expenditure. In common with all audits under ISAS (UKI, we are also required lo perfom) specific procedures to r¢spond lo the risk of management ov¢rrid¢. We also obtained an understanding of th¢ legal and regulatory frameworks thal the Charity operaies in. focusing on provisions of those laws and regulations ihat had a dire¢t ¢ffe¢t on the deterniination of material amounts and disclosures in ihe financial slaiemenrs. The key laws and regulations we considered in this context included the charity's own constitution, and various charily-spe¢ific legislation, includin¥ The Charities and Trustee Investmcnt {Scoilandl Act 2005. Our procedur¢s lo respond to risks identified included the following.. reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direLt effLCt on the financial stalemenls; enquiring of the Management Committee, senior managemenl and legal advisors Concerning actual and potential litigation and claims. perforn)ing analytical procedures to identify any unusual or unexpecled relationships that may indicate risks of material misstatement due to fraud- reading minutes of meetings of those charged with governance: tested a sample of income for understatement and other relevant audii procedures while consideration was given to revenue r¢¢ogniiion; Page 12
Muirton Community Nursery Independent Audiior's Report to the Mernbers of Muirton Community Nurserv (continued) tested a sample of expenditure for overstatement and other relevant audit procedures. in addressino the risk of fraud through management overtide of controls, t¢5ting ihc appioprialcne55 of journal entries and othcr adjustments; assessing whetheT the judg¢ni¢nts madc in making accounting estimates are indicativ¢ of a potential bias; and evaluating thc busin¢55 rational¢ of any significant transactions that are unusual or outside the nomlal course of business. We also communicated relev&ni identified laws and regulations and potenlial fraud risks lo all engagement tea members and remailled alert 10 any indications of fraud or non-compliance with laws and regulations ihroughoui Ihe audit. Due to the inherent lirnilations of an audit. there ts an unavoidable risk that we may not have detected some m21erial misstatements tn the financial statements. even though we have properly planned and perfornied our audit in accordance with auditing standards. For example, as with any audil. there remained a higher risk of non-deie¢tion of irreoularities. as Ihese rnas, involve collusion. forgery. intentional omissions, misrepresentations. or the override of controls. We are not responsible for preventing fraud or non-compliance wilh laws and regulations and cannot be expected to deteci all fraud and non-¢omplian¢e wilh lam's and regulalions. A further description of our responsibilities is available on the Financial Reporting Council's website at.. wWw.frc.org.uaud1tor$re5P0n5Ib1I1ties. This description fornis part of our auditor's report. Use of our report Thi5 repor( is made solely io Ihe chariry's managerneni committee, as a bod). in accordance with Seciion 44 ( l )(c) of lh¢ Chariii¢s and Trustee Investmen( (Scotland) Aci 2005 and Re¥ulaiion l O of lh¢ Chariiies Accounis (Scoiland) Regulaiions ?006 (as amend¢d). Our audil w'ork has been undertaken so (hai we mighi siaie io lh¢ harity'5 mdna¥cm¢nl commiticc those tnaiicrs w¢ are r¢quir¢d lo state to them in an auditor's ICPQrt and foi n othei purpv5¢. To thc fullc5l cxtcnl p¢tTnitt¢d by law, wc do not acc¢pl or a55uJn¢ rc5pon5ibilily to anyoT]e other Ihan lh¢ charity and its management commirtee as a body. for our audit work. for this rcport. or for ihc opinions wc hav¢ fonned. Morris & YounL. Siatulon, AudilOT Eligibl¢ lo acl as an auditor in terms of section 1212 of Ihe Companies Act 2006 Chartered Accountants 6 Alholl Crescent PERTH PHI 5JN 31 Ociober 2025 Page 13
Mulrton Cornmunit) Nursery (Registration number: SC023360) Balance Sheet as at 31 March 2025 2025 2024 Note Flx¢d &ets Tangible ass¢ts 12 16,143 20,436 Current Assets Debtors Cash at bank and in hand 13 14.448 85,131 13,(K)2 63,IM)S 99,579 76,007 Credltor$: Amounts fglllDg dut wlthln othe >ear Nel current asset$ 14 (6.89_3) 19.096) 92.S86 66.911 Net s$et% InR,AAI 87,147 Futsd% ofthe ¢harlty: Restrlet¢d fjn¢ome funds 1,369 .369 Unrestrlrted Income funds Unrestricd income funds 107,462 85,978 Total fund¥ 108,831 87,347 The fin¢131 s¢alements on page 13 10 30 were approved by the ManagenKl Cormiitt¢¢. atsd 4uthoris¢d for issue on 17 September 202$ and %i8ned on their behalf by-. Tr notes on pages 16 to 29 forn) an ititegrai part of the financial statements. Pa8e 15
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 l Accountlng poli¢ie5 Statement of eompllanee Thc financial statements hav¢ been prepared in accordance with Accounting and Rwrting by Chanties.. Statement of Recommended Practice applicabl¢ to ¢hariti¢s preparing their accounts in accordance with the Financial Reporiing Standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 2019} - (Charities SORP {FRS 1021), Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021. the Charities and TTUStee Investment IScoiland} Act 2005 and the Charities Accounls (S¢oiland) Regulatio 2006 (as amended). Basis of preparation Muirton Community Nursery meets rhe definiiion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cos101 transaction value unless oiherwise stated in ihe relevant a¢¢ounting policy noles. These financial statements have been pr¢s¢nt¢d in sterling (£) and rounded to the nearesl £1. Going ¢on¢ern Cash flow forecasts take into account the above and demonstr2te that the ¢harity has sufficient free cash flow to allow the charity to conlinue as a going concern for a period of al least 12 months from the date of signing these Accounts. All govemmenl guidelines are being followed. On this basis. the Management Committee consider li appropriaie to prepare the Accounts on the Going Concern basis Income and endowment5 Voluntary income including donations. gifts. legacies and grants that Provide core funding or are of a general nature is r¢co8nised when the chariry has entiilement to the income, il is probable thai the income will be received and ihe amount ¢8n be measured with sutyicient rcliability. Donafvons dnd le8aeies Donations and legacies are recognised on a receivable basis wben receipt is probable and the amount can be reliably measured. Grants receivable Grant in¢ome is credited to the Statement of Financial Aciivities when received. Deferred income Deferred income represents amounts received for future periods and is released lo incoming resources in the period for which, it has been receiN'ed. Such income is only defted when.. - The donor specifies thai the grant or donation must only be used in accounting periods,. or - The donor has imposed conditions which must be mei before the charily has Uvkconditional entitlement. Inveslment income Encome from bank interest received is credited io the Statement of Financial A1VitieS when receivable. Page 16
Muirton Community Nursery Notes to the Financial Statement5 for the Year Ended 31 March 2025 (continued) Charitable activilies Income Irom charitable aclivilies includes income received under contract and grant funding to specific service conditions. This income is recognised as the related goods and services ar¢ provided and where th¢re is enliilemenl, certainty of receipt and the amount can be measured with sufficient reliability. Fe¢s receivable are accounted for in the period in which the service is provided. Expendlture All expenditure is r¢¢ognised once there is a legal or construciive obligation to that expenditure. it is probable settlement is required and the amount can be measured reliably. All costs are allocaied lo the applicable expendiiure heading that aggregate similar costs lo that category. Where costs Cal0t be directly attributed lo particular headings they have been allocaled on a basis con.sislent with the use of resources. with Central staff costs allo¢ated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Oiher support costs are allocated based on the spread of stsff costs. Charitable aclivlkies Charitable expenditure comprises those Costs incurred by the charity in the delivery of ils activiiies and services for its beneficiaries. It in¢ludes both costs ihal can b¢ allocated directly lo such aetivilies and those costs of an indirect nature necessary lo support them. Support costs Support ¢osts include central functions and have been allocated io a¢tivity cost categories on a basis consistent with the use of resou¢5, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the Costs attributable to the Charity's compliance with constitutional and ststutory requirements, in¢luding audit, strategic mana8em¢nt and Management Committe¢ m¢elings and reimbursed expenses. Txxation Muirton Community Nursery is a charity and is not liable to Corporation Tax. Tangible fixed assets Individual fixed ass¢¢s Cosling £50.00 or more are inilially recorded al cost. Depreeiatiort gnd amortisatlon Depreciation is provided on iangible fixed assets so as lo write off the eost or valuation. less any estimated residual value, over their expected use] economic lif¢ as follows.. Asset class Furniture and equipment Depreciation method and rate 25ts/0 Reducing balance Cash and cllsh equivalents Cash and cash equivalent5 comprise cash on hand and bank d¢posits. Page 17
Muirton Community Nursery Notes to the Financial Statements for the Trear Ended 31 March 2025 (continued) Trade ereditors Trade creditors are obligations to pay for goods or ser%uces that have been acquired in the ordinary course of business from suppliers. A¢¢ounts payable are classified as curreni liabiliiies if the charity does not have an nconditional right, at the end of the reporting period, to defer settlement of the creditor for at least tsvelve months after the reporting date. If there is an unconditional righi io defer settlement for ai least twelve months after th¢ reporting date, they are presented as non-current liabilities. They are recognised initially at the transaction price and subsequently me&sur¢d at amortised cost using the effective interest method. Borrowfittgs Interest-bearing bOrrOngS are initially recorded at fair value. net of transaction costs. Inlerest-bearing borrowings are subsequently Caled at amortised Cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being reeognised as a charge to the Statement of Financial Activities over the period of the relevant iM)rrowing. Interest expense is recognised on the basis of the effeetive interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at leasi tweli'e months after the reporting date. Fund strueture Unrestricted income funds are general fidS thai are available for se at the Management Committee's discretion in furtherance of the objectives of the Charity. Designated funds are unrestricted funds are resources sel aside for specific purposes ai the discretion of the Management Committee. R¢stricted in¢om¢ funds are those donated for use in a particular area or for specific purposes. the use of which is restricted to that area or PUTP05e. Pensions and other post retirement obligations The charity operates a defmed contribution pension scheme which ts a pension plan under which fixed contributions are paid inio a pension fijnd atld ihe cbarity bas no legal or ConstCtiVe obligation to pay fiher ¢ontrÈbulions even if the fvnd does not hold sufificient assets to pay all employees the benefits relating to employee service in th¢ current and prior periods. Contributions to d¢fin¢d contribution plans are recognised in the Statemeni of Financtal Activities when they are due. If COELtributioll paytnents exceed the contribution due for service, the excess is reCOlSed as a prepayment. Financial instruments The charity only has financial assets and liabilities of a kind that would qualify as basic financial instruments 'hich are recognised at their tra%actioTh value and subsequently measured ai their sertl¢m¢nt value. Page 18
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 4 Investment income Unrestrieted funds Gener41 Unrestricted funds General Total 2025 Tot21 2024 Interest receivable and similar incom¢- Interest receivable on bank deposits 578 578 36 36 S Other ineome Unrestricted funds General Unrestricted funds General Total 2025 Total 2024 Fundraising income 1,497 1,497 219 219 Page 20
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Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 7 Analysis of governanee And support costs Support costs Unrestricted funds General Unrestricted funds General Total 2025 Total 2024 Employment cosls Rent Rates Light, heat and power Insurance Repairs and cleaning costs Telephone Printing, stationery and advertising Sundry expenses Publi¢ations Bank Charges 82,729 13,0(M) 3,076 10,065 3,914 19,333 82.729 13.000 3.076 10.065 3.914 19,333 484 82,142 13,000 2,312 9,031 3.733 17,729 467 82.142 13,000 2,312 9.031 3,733 17,729 467 2,408 2,408 2,329 1,179 3,84? 457 2.329 1.179 3,842 457 3.859 422 3.859 4?2 140,405 140,405 136,221 136,221 Page 22
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Basis of allocation Reference Employment costs Rent Method of llo¢tio Staff time Direct Rates Direct Light, heal and power Direcl Insurance Direct Repairs and cleaning Ir cosis Direct T¢l¢phone Printing. stationery and advertising Sundry expenses Publications Direct Dir¢cl Direct Direct Bad debts WTitten off Direct Bank charges Loan intercsl Direct Direct Governance costi UDrestricted fund5 General Unrestrlcted funds Generll Total 2025 Total 2024 SiatT Costs Wages and salaries Social security costs Audit fe¢s Audit of the financial statements Other fees paid to auditors Legal fees 8.344 652 8.344 652 8,351 839 8,351 839 2,51J) 2.5(X) 2,3 1,900 360 2.300 1,900 360 13.496 13.496 13,750 13,750 Page 23
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 8 Net incomlngloutgoing resourees Net in¢oming/loulgoing) resour¢es for the year include.. 2025 2024 Operatin¥ leases other assets Audit fees Other non-audii services Depreciation of fixed assets 1.300 2,500 2,000 5.381 13.000 2.300 1,900 6.812 9 Manggement Committee's remunerAtlon and expenses No members of the Managemenl Committee, nor any persons ¢onne¢ted with Ihem, have received any remuneration from the charity during the year. No memb¢rs of th¢ Management Commiitce received any reimbursed expenses from ihe charity during the year. 10 Staff tosts Th¢ aggregate pa011 costs were as follows.. 2025 2024 Staff ¢osts durlng the year were: Wages and salaries Social security costs Pension costs 280,419 15,603 7,266 274,197 12,698 6,162 303.288 293,057 The monthly average number of persons (including senior management / leadership team) employed by the charity during the y¢ar expressed as full time equivalents. was as follows.. 2025 No 2024 No Provision of nursery servi¢es Administration 13 15 14 16 15 (2024 - 12) of the above employees participated in the Defined Contribution Pension S¢h¢m¢s. No employee received emoluments of more than £60.000 during the year Th¢ total employee benefits of the key nmnagement personnel of the charity w¢r¢ £62,327 (2024- £60.5111. Page 24
Muirton Community liursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 11 Taxatlon The charity is a regisiered charity and is therefore exempt from taxation. 12 Tn£lble Ilxed assets Furniture nd equlpment Tolal Cosl At l April 2024 Additions 112,IX)8 1.0 112.008 1,090 Ai 31 March 2025 113.098 113.098 DepreclAtlon Ai l April 2024 Charge for Ihe year 91,572 5.381 91.572 5,381 Ai 31 March 2025 96,953 96,953 Ntt book value Ai 31 March 2025 16,145 16,145 Ai 31 March 2024 20.436 20.436 13 Debtors 2025 2024 Prepayments Other debtors 6,293 8,155 6,077 6.925 14.448 13,002 Page 25
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 14 Creditors." amounts falling due within one year 2025 2024 Other creditors Accruals Deferred income 1.099 7.820 177 6.893 6,893 9,096 2025 2024 Deferred Income Deferred income at l April 2024 Resources deferred in the period Amounts ieleased from previous periods Deferred income at year end 177 46 l77 (46} (177) 177 Deferred income at the year end represents nursery fees which were r¢¢eived in advance. 15 ObligAtions under leases and hire purehAse contrgcts Operating lease commitments Total tIre minirnum lease payments under non-cancellable operating leases are as follows.. 2025 2024 Lalld and buildings Within one year Between one and five years 13.000 26,000 13,000 39,000 39,000 52,000 The total amount of lease payments recognised as an expense during the year was £13,000 (2023 - £13.000). 16 Pension gnd other schemes Defined contribution pension Scheme The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scbeme and amounted to £7,266 (2024 _ £6,162). Page 26
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 17 Contingent liabilities The charity received a grant of £10,180 from the Scottish Executive towards the cost of an ¢xiension to the building. They have however decided to put the plans for th¢ extension on hold. If the plans for the extension do not go ahead th¢ charity may have to repay the grant lo the Scottish Exeeulive. No adjustment has been made to the a¢¢ounts for sueh a situation arising. 18 Funds B3ilance at 31 Mar¢h 2025 Balance #t I April 2024 Incomlng resources Resources expended Transfers Unrestricted funds Genepal Unrestricted Incorne Fund 55,362 411,539 (384,674) {1,090) 81,137 Designaled Capital Expenditure Fund 30,616 (5,381) 1,090 26,325 Total unrestricted funds 85,978 411,539 {390,055) 107.462 Restricted funds CCI Fund Scottish Government - Outdoor Clothing Fund 1.363 1,363 Totgl restricled funds 1,369 1,369 Total funds 87,347 411,539 (390,055) 108,831 Page 27
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) Balance at I April 2023 Ineoming re50ur¢es Resources expended Bglance at 31 March 2024 Transftrs Unrestricted funds General Unrestricted Income Fund 68,223 358.261 (367,129) {3,993) 55.362 Designated Capitsl Expenditure Fund Total unrestricted funds 33,435 (6.812) (373,941) 3.993 30,616 85.978 101,658 358.261 Restricted funds CCI Fund 1,363 1,363 Scottish Government Outdoor Clothing Fund Total restricted funds 1,369 103,027 ,369 87,347 Total funds 358.261 1373,941) Unreslricted funds The specific purposes for which the funds are to be applied are as follows.. The Unrestricted Income Fund is available io be spent for any of the purposes of the ¢harity. The Capitsl Expendittwe Fund represenls the fixed assets of the cbarity and is subject to movements througb a¢quisitton of new assets or through d¢pr¢¢iation. Page28
Muirton Community Nursery Notes to the Financial Statements for the Year Ended 31 March 2025 (continued) 19 Anlysi5 of net assets between funds Total funds at 31 March 2025 Unrestricted funds General Designated Restricted funds Tangible fix assets Cuent assets Current liabilities 16,145 10.180 16,145 99.579 {6.893) 88.030 {6,893) .369 Total nel assets 81,137 26,325 1,369 108,831 Tol81 funds it 31 March 2024 Unrestrlcted funds General Deslgnted Restricted funds Tangible fixed assets Current assets cUen1 liabilities 20.436 10.180 20,436 76.007 9,096 64.458 19.0961 ,369 Tolal net assets 55,362 30.616 ,369 87,347 20 Related party tr*nsa¢tions During the year the charity made the following lated paTty transactions: Management Committee Thc ManagLmeni Committe¢ is largely rnade up of parents of children who attend the nursery. Fees charged are Lalculated al the standard raies. At the balance sheet date th¢ net fees due from Managern¢ni Committee Members al the year end were £627 (2024 - £1.140). Page 29