STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Company Registration Number:
13524340 (England and Wales)

Unaudited statutory accounts for the year ended 31 July 2023

Period of accounts

Start date: 1 August 2022

End date: 31 July 2023

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Contents of the Financial Statements

for the Period Ended 31 July 2023

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Directors' report period ended 31 July 2023

The directors present their report with the financial statements of the company for the period ended 31 July 2023

Directors

The directors shown below have held office during the whole of the period from
1 August 2022 to 31 July 2023

Denise Prangnell
Sarah Esposito


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
26 January 2024

And signed on behalf of the board by:
Name: Denise Prangnell
Status: Director

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Profit And Loss Account

for the Period Ended 31 July 2023

2023 2022


£

£
Turnover: 217,586 136,216
Cost of sales: ( 132,429 ) ( 113,617 )
Gross profit(or loss): 85,157 22,599
Administrative expenses: ( 68,392 ) ( 19,939 )
Operating profit(or loss): 16,765 2,660
Profit(or loss) before tax: 16,765 2,660
Tax: ( 3,248 ) ( 128 )
Profit(or loss) for the financial year: 13,517 2,532

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Balance sheet

As at 31 July 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 1,910 1,496
Total fixed assets: 1,910 1,496
Current assets
Debtors: 4 4,292 6,402
Cash at bank and in hand: 38,573 18,076
Total current assets: 42,865 24,478
Creditors: amounts falling due within one year: 5 ( 28,627 ) ( 23,343 )
Net current assets (liabilities): 14,238 1,135
Total assets less current liabilities: 16,148 2,631
Total net assets (liabilities): 16,148 2,631
Capital and reserves
Called up share capital: 99 99
Profit and loss account: 16,049 2,532
Total Shareholders' funds: 16,148 2,631

The notes form part of these financial statements

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 26 January 2024
and signed on behalf of the board by:

Name: Denise Prangnell
Status: Director

The notes form part of these financial statements

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable for the provision of early years education. The turnover is a mixture of funding form the local authority in advance of a school term and private funding from parents. Turnover is recognised in the term that is relates to.

    Tangible fixed assets depreciation policy

    Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognisedin profit or loss.Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:Plant and machinery 25% Reducing BalanceFixtures and fittings 25% straight line

    Other accounting policies

    CURRENT TAXCurrent tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.IMPAIRMENTA review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at eachreporting date.FINANCIAL INSTRUMENTSA financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. DEFINED CONTRIBUTION PENSION PLANContributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 12 9

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 August 2022 1,636 1,636
Additions 868 868
Disposals
Revaluations
Transfers
At 31 July 2023 2,504 2,504
Depreciation
At 1 August 2022 140 140
Charge for year 454 454
On disposals
Other adjustments
At 31 July 2023 594 594
Net book value
At 31 July 2023 1,910 1,910
At 31 July 2022 1,496 1,496

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Debtors

2023 2022
£ £
Trade debtors 4,007 6,402
Other debtors 285
Total 4,292 6,402

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 0 9,502
Taxation and social security 4,075
Other creditors 24,552 13,841
Total 28,627 23,343

COMMUNITY INTEREST ANNUAL REPORT

STEPPING-STONES PRE-SCHOOL AND HOLIDAY CARE C.I.C.

Company Number: 13524340 (England and Wales)

Year Ending: 31 July 2023

Company activities and impact

Stepping-Stones Pre-School & Holiday Club C.I.C runs a pre-school setting, before afterschool & holiday care for children 18mths to 8 yrs, with a particular emphasis on providing child care and education for our local community. Stepping-Stones opened for business on the 4th October 2021 and received its first ‘Good’ Ofsted grading on 12th December 2023. During the financial year 2022 – 2023 the pre-school’s activities have benefited the Borehamwood community in the follow ways: the local families especially those who have no car access and those who attend the joining primary school. The pre-school continues to provide full and part time employment for 10 residents. On average Stepping-Stones has accommodated for a further 30 families during the past year from many back grounds. The setting supports children with special educational needs, looked after children and families receiving 2yr, 3yr and/or 30hour funding. The setting continues to work closely with the local food bank charity to provide food, clothing and furniture to their families. The pre-school provides breakfast club, afterschool club and holiday club for the families who require additional hours to the Government funded 15 or 30hrs

Consultation with stakeholders

The biggest stakeholders to the setting continue to be the families who we provide early years childcare and education. We ask our families to complete regular questionnaires requesting feedback on their experiences with the setting, their childcare and what the setting could improve on. We have regular parent/carers consultation meetings with regard to children’s development and wellbeing. We have a suggestion box for families and staff to share their experiences or ideas.

Directors' remuneration

The total amount received by directors of qualifying services was £45,713 (2022: £9,502)There were no other transactions or arrangements in connection with the remuneration of directors or compensation of directors, or compensation for director’s loss of office, which require to be disclosed.

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
26 January 2024

And signed on behalf of the board by:
Name: Denise Prangnell
Status: Director