Company Registration No. NI010464 (Northern Ireland)
STEPPING STONES CRECHE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
STEPPING STONES CRECHE LIMITED
CONTENTS
Page
Legal and administrative information
1
Trustees' report
2 - 4
Independent auditor's report
5 - 7
Statement of financial activities
8
Balance sheet
9
Notes to the financial statements
10 - 17
STEPPING STONES CRECHE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
- 1 -
Trustees
Mrs E Dempsey
(Appointed 27 February 2024)
Miss S Russell
(Appointed 27 February 2024)
Mrs N Mccaulay
(Appointed 17 June 2024)
Mrs S O'Neill
(Appointed 17 June 2024)
Secretary
Mrs E Dempsey
Charity number
NIC102354
Company number
NI010464
Registered office
15 Church Street
PORTSTEWART
Co Londonderry
BT55 7AH
Auditor
IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
STEPPING STONES CRECHE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -

The trustees present their annual report and financial statements for the year ended 30 June 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".

Objectives and activities

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

Public benefit

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

Achievements and performance
Significant activities and achievements against objectives
Financial review

Total incoming resources for the year were £553k (2023 £573k) of which £522k was generated from fees. Total resources expended were £559k (2023 £607k)of which £439k were expended on staff costs. The company returned a loss in resources for the year of £6k (2023 £34k). At 30 June 2024 the total funds of the charity amounted to £99K, of which £99k is unrestricted.

Reserves policy

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

Risk Management

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

Structure, governance and management

The charity is a company limited by guarantee.

STEPPING STONES CRECHE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -

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

M Shivers
(Resigned 16 October 2023)
C McMath
(Resigned 27 February 2024)
P Morrow
(Resigned 7 March 2024)
Mr B C O'Mahony
(Resigned 14 January 2024)
Ms E Cheema
(Resigned 14 January 2024)
A Mallon
(Appointed 16 October 2023 and resigned 27 March 2024)
Mr J Carey
(Appointed 16 October 2023 and resigned 15 February 2024)
L McGookin
(Appointed 16 October 2023 and resigned 21 February 2024)
Mrs C McLaughlin
(Appointed 27 February 2024 and resigned 5 July 2024)
Mrs E Dempsey
(Appointed 27 February 2024)
Mrs A Lowry
(Appointed 27 February 2024 and resigned 8 January 2025)
Miss S Russell
(Appointed 27 February 2024)
Mrs L Simpson
(Appointed 27 February 2024 and resigned 7 May 2024)
J A Lenehan
(Resigned 1 October 2023)
Mrs N Mccaulay
(Appointed 17 June 2024)
Mrs S O'Neill
(Appointed 17 June 2024)
Organisational structure

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

 

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

Statement of trustees' responsibilities

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

 

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

 

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

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

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

STEPPING STONES CRECHE LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
Auditor

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

Taxation

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

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

Miss S Russell
Trustee
31 March 2025
STEPPING STONES CRECHE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED
- 5 -

Opinion

We have audited the financial statements of Stepping Stones Creche Limited (the ‘charity’) for the year ended 30 June 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 30 June 2024 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Other information

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

 

We have nothing to report in this regard.

Matters on which we are required to report by exception

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

-

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

-

sufficient accounting records have not been kept; or

-

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

-

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

STEPPING STONES CRECHE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED
- 6 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations, was as follows:

 

We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

STEPPING STONES CRECHE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF STEPPING STONES CRECHE LIMITED
- 7 -

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

 

There are inherent limitations in our audit procedures described above. The more removed laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

 

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

 

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with section 391 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members, as a body, for our audit work, for this report, or for the opinions we have formed.

Mrs Alison Wallace (Senior Statutory Auditor)
for and on behalf of IDS Chartered Accountants LLP
23/25 Queen Street
COLERAINE
Co Londonderry
BT52 1BG
31 March 2025

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

STEPPING STONES CRECHE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2024
- 8 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
1,300
-
1,300
6,000
-
6,000
Charitable activities
4
523,537
26,809
550,346
555,780
11,082
566,862
Other trading activities
5
1,449
-
1,449
629
-
629
Total income
526,286
26,809
553,095
562,409
11,082
573,491
Expenditure on:
Charitable activities
6
532,702
26,809
559,511
596,656
11,082
607,738
Total expenditure
532,702
26,809
559,511
596,656
11,082
607,738
Net expenditure and movement in funds
(6,416)
-
(6,416)
(34,247)
-
(34,247)
Reconciliation of funds:
Fund balances at 1 July 2023
106,053
-
106,053
140,300
-
140,300
Fund balances at 30 June 2024
99,637
-
99,637
106,053
-
106,053

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

STEPPING STONES CRECHE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 9 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
11,230
15,851
Current assets
Debtors
12
11,395
26,730
Cash at bank and in hand
83,064
71,405
94,459
98,135
Creditors: amounts falling due within one year
14
(6,052)
(7,933)
Net current assets
88,407
90,202
Total assets less current liabilities
99,637
106,053
The funds of the charity
Unrestricted funds
16
99,637
106,053
99,637
106,053

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 June 2024.

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

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

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

The financial statements were approved by the trustees on 31 March 2025
Mrs E  Dempsey
Miss S  Russell
Trustee
Trustee
Company registration number NI010464 (Northern Ireland)
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 10 -
1
Accounting policies
Charity information

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

1.1
Accounting convention

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

 

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

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

 

1.2
Going concern

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

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

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

1.3
Charitable funds

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

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

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

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

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
1.5
Expenditure

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

 

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

1.6
Tangible fixed assets

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

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

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

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

1.7
Impairment of fixed assets

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

1.8
Cash and cash equivalents

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

1.9
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

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

Basic financial assets

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

STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 12 -
Basic financial liabilities

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

 

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

 

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

Derecognition of financial liabilities

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

1.10
Employee benefits

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

 

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

1.11
Retirement benefits

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

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

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

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Donations and gifts
1,300
6,000
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 13 -
4
Income from charitable activities
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Income
Fees
522,372
-
522,372
554,133
-
554,133
PEAG Fundimng from Education Authority
638
17,327
17,965
1,365
8,134
9,499
HSCNI Milk Grant
-
976
976
-
948
948
Other Grants
-
8,506
8,506
-
-
-
HSCB Outdoor Grant
-
-
-
-
2,000
2,000
Sundry Income
527
-
527
282
-
282
523,537
26,809
550,346
555,780
11,082
566,862
5
Income from other trading activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£
Non-charitable trading activities
1,449
629
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 14 -
6
Charitable activities
2024
2023
£
£
Staff costs
422,277
483,503

Training costs

588
1,804

Premises costs

52,266
54,290

Printing, postage & stationery

1,057
957

Subscriptions

6,885
4,008

Equipment costs

18,629
15,855

Legal & professional fees

7,541
1,473

Computer & software costs

11,775
2,762

Outings & travel expenses

1,199
1,182

Accountancy

3,480
4,183

Repairs & maintenance

9,162
6,223

Misc expenses

19,749
26,135

Bank charges

282
323

Depreciation

4,621
5,040
559,511
607,738
559,511
607,738
Analysis by fund
Unrestricted funds
532,702
596,656
Restricted funds
26,809
11,082
559,511
607,738
7
Net movement in funds
2024
2023
£
£
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
4,621
5,040
8
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 15 -
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
34
36
Employment costs
2024
2023
£
£
Wages and salaries
410,565
473,593
Other pension costs
11,712
9,910
422,277
483,503
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

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

11
Tangible fixed assets
Creche improvements
Fixtures and fittings
Total
£
£
£
Cost
At 1 July 2023
33,630
13,527
47,157
At 30 June 2024
33,630
13,527
47,157
Depreciation and impairment
At 1 July 2023
22,811
8,495
31,306
Depreciation charged in the year
3,363
1,258
4,621
At 30 June 2024
26,174
9,753
35,927
Carrying amount
At 30 June 2024
7,456
3,774
11,230
At 30 June 2023
10,819
5,032
15,851

 

STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 16 -
12
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,395
26,730
13
Loans and overdrafts
2024
2023
£
£
Bank overdrafts
-
1
Payable within one year
-
1
14
Creditors: amounts falling due within one year
2024
2023
£
£
Bank overdrafts
13
-
1
Other taxation and social security
4,084
6,542
Accruals
1,968
1,390
6,052
7,933
15
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
11,712
9,910

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
Unrestricted funds

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

At 1 July 2023
Incoming resources
Resources expended
At 30 June 2024
£
£
£
£
General funds
106,053
526,286
(532,702)
99,637
STEPPING STONES CRECHE LIMITED
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
16
Unrestricted funds
(Continued)
- 17 -
Previous year:
At 1 July 2022
Incoming resources
Resources expended
At 30 June 2023
£
£
£
£
General funds
140,300
562,409
(596,656)
106,053
17
Analysis of net assets between funds
Unrestricted
funds
2024
£
At 30 June 2024:
Tangible assets
11,230
Current assets/(liabilities)
88,407
99,637
Unrestricted
funds
2023
£
At 30 June 2023:
Tangible assets
15,851
Current assets/(liabilities)
90,202
106,053
18
Related party transactions

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

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