THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Company Registration Number:
14091589 (England and Wales)

Unaudited statutory accounts for the year ended 05 April 2024

Period of accounts

Start date: 01 June 2023

End date: 05 April 2024

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Contents of the Financial Statements

for the Period Ended 05 April 2024

Company Information - 3
Report of the Directors - 4
Profit and Loss Account - 5
Balance sheet - 6
Additional notes - 8
Profit and Loss notes - 11
Balance sheet notes - 12

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Company Information

for the Period Ended 05 April 2024




Director: Gemma Leigh Bridge
Jessica Liddle
Registered office: 15
Church Lane
Rochdale
England
OL16 1NR
Company Registration Number: 14091589 (England and Wales)

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Directors' Report Period Ended 05 April 2024

The directors present their report with the financial statements of the company for the period ended 05 April 2024

Principal Activities

The company's principal activity during the period was the provision of specialist daycare for children aged 0-7 years with complex health needs and/or learning disabilities across Rochdale and the surrounding areas.

Political and charitable donations

No political or charitable donations were made during the period.

Additional information

The Nursery; Special Education Needs and Disability Childcare Ltd. (‘The Nursery’) celebrated its official one-year anniversary on 3rd January 2024 and what a year it has been. Our mission has remained at the heart of all we do, providing high quality, compassionate and inclusive childcare in a ‘wonderful place for children to learn and grow’. The number of children registered on our books was 55 as the 5th April 2024, a rapid incline from the 3 we started with. Our team has also grown to support the service, with 10 early years staff now employed by The Nursery alongside our Nursery Manager, Deputy Manager, Cook, Caretaker and Office Apprentice. After reporting a loss in our first year, we were projecting a breakeven position for 23-24. As you will see in the financial statements, we have ended the year in a much more favourable position than expected. Of course, this is much welcomed news but it has not been without its challenges. Both the Nursery Manager and the Deputy Manager have had to support the rota on a regular basis to maintain the enhanced level of care that we demand from our service. This has largely been to cover short-term sickness and annual leave, but also to cover gaps between substantive recruitment campaigns. Though this cover has created an in year saving, it is very much seen as a short-term solution and not something we would ever plan for on a recurrent basis. We made a very conscious decision to invest in our workforce this year, taking on additional casual workers (to support holidays and weekends) and also uplifting everyone’s hourly rates over and above the new national minimum wage. The early years team is constantly growing and evolving, with everyone looking to step up and take on additional responsibilities across the setting. We will also see a number of our apprentices qualify in the year ahead which is a great testament to all of the hard work and dedication that has been put in (not just by those studying, but also the more experienced staff who have coached and supported them along the way). There continues to be a gap between the price paid for universal provision (government funded childcare places) and the additional cost required to deliver a safe SEND service. Our prices have been uplifted for 24-25 to support this, plus the significant hike in energy, food and services that has been seen over the past 18 months since we opened. We do not take this decision lightly and continue to do everything that we can to keep costs down. Any profit we generate is continuously reinvested into the business by way of new equipment, staff training and additional roles. A small dividend has been awarded in year, alongside partial repayment of director loans that were made to the company to support it during the start-up phase. As a management team, we continue to be ambitious in our plans for The Nursery. We are committed to building our outreach work (including private speech and language therapy), extending our paediatric training course to other settings and delivering on our charity commitments. Our 5 year plan is in development and very much focused around our growth strategy, both in terms of space and service provision. We are immensely proud of the work that we do and the progress that our children make whilst they’re with us. The lovely feedback we receive from parents, other health and education professionals and the local community keeps us going even on the toughest of the days, and we hope to still be here doing what we do for many years to come.

Directors

The directors shown below have held office during the whole of the period from 01 June 2023 to 05 April 2024
Gemma Leigh Bridge
Jessica Liddle

This report was approved by the board of directors on 2 January 2025
And Signed On Behalf Of The Board By:

Name: Jessica Liddle
Status: Director

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Profit and Loss Account

for the Period Ended 05 April 2024


Notes
10 months to
5 Apr 2024
£
13 months to
31 May 2023
£
Turnover 418,034 62,775
Cost of sales ( 150,940 ) ( 43,866 )
Gross Profit or (Loss) 267,094 18,909
Administrative Expenses ( 146,168 ) ( 91,171 )
Operating Profit or (Loss) 120,926 ( 72,262 )
Profit or (Loss) Before Tax 4 120,926 ( 72,262 )
Tax on Profit ( 9,331 ) -
Profit or (Loss) for Period 111,595 ( 72,262 )

The notes form part of these financial statements

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Balance sheet

As at 05 April 2024


Notes
10 months to
5 Apr 2024
£
13 months to
31 May 2023
£
Fixed assets
Tangible assets: 5 7,266
Total fixed assets: 7,266
Current assets
Cash at bank and in hand: 87,827 21,633
Total current assets: 87,827 21,633
Prepayments and accrued income: 5,595
Creditors: amounts falling due within one year: 6 ( 45,574 ) ( 68,752 )
Net current assets (liabilities): 42,253 ( 41,524 )
Total assets less current liabilities: 49,519 ( 41,524 )
Creditors: amounts falling due after more than one year: 7 ( 10,000 )
Accruals and deferred income: ( 2,860 )
Total net assets (liabilities): 39,519 ( 44,384 )

The notes form part of these financial statements

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Balance sheet continued

As at 05 April 2024


Notes
10 months to
5 Apr 2024
£
13 months to
31 May 2023
£
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 39,517 ( 44,386 )
Shareholders funds: 39,519 ( 44,384 )

For the year ending 5 April 2024 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 2 January 2025
And Signed On Behalf Of The Board By:

Name: Jessica Liddle
Status: Director

The notes form part of these financial statements

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

  • 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

    Tangible fixed assets depreciation policy

    Depreciation is charged on a straight line basis, from the first month of the financial quarter that immediately follows the purchase.

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

  • 2. Employees

    10 months to
    5 Apr 2024
    13 months to
    31 May 2023
    Average number of employees during the period 15 2

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

  • 3. Off balance sheet disclosure

    No

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

4.Profit or (Loss) before tax

Note 1 Other Revenue
This category captures £3,082 of income received for activities outside of direct care. £70 relates to reimbursement of paediatric first aid training (delivered to a seasonal member of staff, funded via their substantive employer), £2,917 to reimburse staff time on the Early Years Initial Teacher Training (‘EYITT’) level 6 programme and a £95.62 apprenticeship credit (for a member of staff who had left). The associated cost is captured against the ‘direct wages’ account code.

Note 2 Sales
This category captures all revenue generated for nursery sessions between 1st June 2023 and 5th April 2024. Invoices are issued a month in arrears, with accruals posted for any significant outstanding payments at the end of the financial year. Based on previous payment history, we would expect all residual balances to be cleared by the end of the following month. Two thirds of our income came from the local authority (for government funded nursery places, SEND provision and holiday club) with the balance from privately funded sessions.

Note 3 Expenses
This category includes all food and personal hygiene products (i.e. nappies, wipes and barrier cream). These expenses can be directly attributed to each individual session that is delivered.

Note 4 Direct Wages
This category includes all staff who are permanently based within the rooms, providing direct care to children. All staffing costs have been captured here, with the exception of G Bridge (who has been charged to directors renumeration) plus the cook, caretaker and office apprentice (who have all been charged to salaries).

Note 5 Audit and Accountancy Fees
This category covers our monthly accounting software subscription (Xero).

Note 6 Bank Fees
This category captures £6 of charges for depositing cash in the business bank account, via the post office.

Note 7 Cleaning
This category captures all cleaning materials and equipment required to maintain the setting, plus personal protective equipment for staff.

Note 8 Consulting
This category covers our external HR services provider (Avensure Ltd.).

Note 9 Depreciation Expense
Depreciation is charged on a straight line basis, from the first month of the financial quarter that immediately follows the purchase.

Note 10 Directors’ Remuneration
This category covers the annual salary cost for the Managing Director & Registered Manager, paid via PAYE.

Note 11 Employers National Insurance
This category covers employers NI contributions.

Note 12 Entertainment 100% business
This category captures the cost of the annual Christmas staff meal, plus refreshments for the monthly team meetings.

Note 13 General Expenses
This category captures all in year spend on toys, equipment and craft supplies.

Note 14 Insurance
This category covers all essential building, contents and company insurance policies. A comprehensive insurance package is in place via a single provider (Dot2dot) with payments taken through Close Brother Premium Finance. The package includes, but is not limited to, material damage, business interruption, employers’ liability, public liability and directors’ liability. Building insurance costs are provided via a separate policy that is arranged (and recharged) by the landlord.

Note 15 IT Software & Consumables
This category captures the cost of two laptops (for office administration and staff training use), plus an annual Microsoft Office subscription. Both laptops cost less than £500 each, which puts them below the threshold for capitalisation.

Note 16 Light, Power & Heating
This category captures the cost of all utility bills for the setting.

Note 17 Pension Costs
This category covers all payments made into the company pension scheme (NEST). An 8% contribution is made for all eligible staff which covers the statutory minimum required (for employer and employee combined). Staff are given the opportunity to opt-in to the scheme if not eligible for auto-enrolment.

Note 18 Postage, Freight & Courier
This category captures £111 of delivery charges for a piece of climbing equipment purchased from Europe.

Note 19 Printing & Stationery
This category covers all office spend such as document folders, paper and laminating pouches. It also includes the cost of a new printer.

Note 20 Profit/Loss on Disposal
This spend relates to the disposal of FA-0001 (Sensory Bubble Lamp and Lights) due to physical damage, shortly after its purchase.

Note 21 Rates
This category covers business rates and water charges.

Note 22 Repairs & Maintenance
This category covers all essential health and safety testing carried out for the building. It also captures ongoing repairs and maintenance costs, plus the installation of new Velux blinds in June 2023

Note 23 Salaries
This category covers all indirect staffing costs associated with the running of the nursery (cook, caretaker and office apprentice).

Note 24 Staff Non-Pay Costs
This category covers all costs incurred on staff uniforms and DBS checks.

Note 25 Staff Training
This category covers all costs associated with staff training, including medical supplies used to deliver the in-house paediatric first aid course.

Note 26 Subscriptions
This category covers subscriptions for Ofsted, Famly (nursery app), Information Commissioners Office (ICO), Amazon and Go Daddy (website domain).

Note 27 Telephone & Internet
This category covers all monthly mobile phone and internet charges.
It includes the cost of new radios, chargers and mobile handsets for use across the setting.

Note 28 Corporation Tax
Loss from prior year carried forward when calculating the tax liability. Small rate of tax (19%) applied on the balance of the profit, resulting in the charge shown in the accounts.

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

5. Tangible assets

Plant & machinery Total
Cost £ £
At 01 June 2023 0 0
Additions 7,710 7,710
Disposals - -
Revaluations - -
Transfers - -
At 05 April 2024 7,710 7,710
Depreciation
At 01 June 2023 0 0
Charge for year 444 444
On disposals - -
Other adjustments - -
At 05 April 2024 444 444
Net book value
At 05 April 2024 7,266 7,266
At 31 May 2023 0 0

Note 29 Fixed Assets
All equipment purchases of £500 or more are recognised on The Nursery's fixed asset register. Three additions were made in this financial year; a changing unit with steps (£648), Community Playthings furniture - Savannah room (£4,685) and Community Playthings furniture - Rainforest room (£2,377).

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

6.Creditors: amounts falling due within one year note

10 months to
5 Apr 2024
£
13 months to
31 May 2023
£
Taxation and social security 13,652 10,582
Other creditors 31,922 58,170
Total 45,574 68,752

Note 30 Creditors amounts due falling within one year
This category combines all director loan, PAYE, NIC, pension and student loan payables. It also includes a provision for the corporation tax that is due to be paid this year. Over 70% of the balance relates to the director loan account which was established in July 2022 and topped up in February 2023. Small steady repayments have been made to this account during the period, with some larger lump sums when the cash position allowed. Balances reported against the PAYE, NIC and wages payable accounts reflect those costs recognised during the period but not due to be paid until after the financial year-end.

THE NURSERY; SPECIAL EDUCATIONAL NEEDS AND DISABILITY CHILDCARE LTD

Notes to the Financial Statements

for the Period Ended 05 April 2024

7.Creditors: amounts falling due after more than one year

10 months to
5 Apr 2024
£
13 months to
31 May 2023
£
Other creditors 10,000
Total 10,000