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REGISTERED COMPANY NUMBER: 06665325 (England and Wales)
REGISTERED CHARITY NUMBER: 1127021











Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Little Buds Pre-School Limited

Little Buds Pre-School Limited






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Report of the Trustees 1 to 3

Independent Examiner's Report 4

Statement of Financial Activities 5

Balance Sheet 6 to 7

Notes to the Financial Statements 8 to 12

Little Buds Pre-School Limited (Registered number: 06665325)

Report of the Trustees
for the Year Ended 31 August 2024


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2024. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES
Objectives, aims and public benefit
The trusties have complied with their duty under the Charities Act 2011 to have due regard to the guidance published by the Charity Commission on public benefit. In fulfilling the objectives stated below the company demonstrates it provides a public benefit to the local community. Specifically, the Charity provides management under licence from Forest Heath District Council of a community building that otherwise would have been closed, this allows other community & private groups as well as individuals to continue to use this facility.

Currently the company`s main aim is to ensure that the Community Centre remains viable for the use of the local community groups, serving young children from the local community as well as the Pre-School.

Presently the Pre-School operates as a separate entity however, in accordance with the objectives in the company`s aim is to run the Little Buds Pre-school in accordance with the objectives in the company`s Articles which are stated below.

Those objectives are to enhance the development and education of the children primarily under school age by encouraging parents to understand and provide for the needs of their children through community groups and by:-

1. Offering appropriate play, education and care facilities and training courses, together with the right of parents to take responsibility for and to become involved in the activities of such groups, ensuring that such groups offer opportunities for all children whatever their race, culture, religion, means of ability;

2. Encouraging the study of the needs of such children and their families and promoting public interest in and recognition of such needs;

3. Instigating and adhering to and furthering the aims and objects of the Early Years Alliance.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Company went active on 1st September 2011 after talks with Forest Heath District Council which saw us take over the responsibility of running the Community Centre at Studlands Park Newmarket, Suffolk under a licence to occupy. This facility is now under the ownership of West Suffolk District Council after the merging of the 2 authorities at the end of 2019. The new enclosed outside area which was completed in December 2018 was added to our licence to occupy.

The pandemic, alongside a burst pipe in 2021 resulting in a flood has had a significant impact on the Community Centre over the last few years. As well as this, a large amount of work has been carried out to the Community Centre over the years. Included in this was an overhaul to the fire system which took roughly a month to install, during which time the centre was out of use.

During the financial year the Community Centre reopened its doors to all existing groups full time and began marketing for new groups who are looking to hire the centre for events. Growth is expected over the coming years.


Little Buds Pre-School Limited (Registered number: 06665325)

Report of the Trustees
for the Year Ended 31 August 2024

FINANCIAL REVIEW
Financial position
The charity was able to turn a building that was losing several thousand pounds per year, to one that runs at a surplus. This was achieved by cutting costs, changing utility suppliers and attracting new users, which allowed us to offer the facility at an affordable cost.

During the financial year the centre opened its doors full time to existing and new groups. With the cost of living increasing, our costs. such as utility bills, have risen significantly during the year. We have not yet passed this increase onto our hall users but will look to do so from September 2025.

The hall is currently being marketed for hire on social media platforms as many in the community do not release the hall is available to hire.

Investment policy
The Trustees have no specific investment policy and, given the amount of liquid funds held and the level of activity, it is deemed prudent to maintain funds currently surplus to immediate requirements on deposit at the charity's bank.

Reserves policy
The Charity has a small amount of reserves of £29,747 to cover future operating costs and liabilities, subject to an audit of the accounts. It is the Trustees policy to retain surplus funds to finance the day to day expenditure of the Charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees
Trustees are recruited by the existing trustees in accordance with the memorandum and articles of association of the company.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
06665325 (England and Wales)

Registered Charity number
1127021

Registered office

Trustees
Mr W A George
Ms S Brame
Mr D Williams

Company Secretary
Mrs T E Sizer

Independent Examiner
J P Knights
Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

Little Buds Pre-School Limited (Registered number: 06665325)

Report of the Trustees
for the Year Ended 31 August 2024

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 16 May 2025 and signed on its behalf by:





Mr W A George - Trustee

Independent Examiner's Report to the Trustees of
Little Buds Pre-School Limited

Independent examiner's report to the trustees of Little Buds Pre-School Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








J P Knights

Knights Lowe
Chartered Accountants
Eldo House, Kempson Way
Suffolk Business Park
Bury St Edmunds
Suffolk
IP32 7AR

16 May 2025

Little Buds Pre-School Limited

Statement of Financial Activities
for the Year Ended 31 August 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 7,000 6,500

Charitable activities
Hall lettings 7,278 5,376

Investment income 2 87 76
Total 14,365 11,952

EXPENDITURE ON
Charitable activities
Hall lettings 10,424 10,980
Support cost 4,173 2,148
Total 14,597 13,128

NET INCOME/(EXPENDITURE) (232 ) (1,176 )


RECONCILIATION OF FUNDS
Total funds brought forward 29,979 31,155

TOTAL FUNDS CARRIED FORWARD 29,747 29,979

Little Buds Pre-School Limited (Registered number: 06665325)

Balance Sheet
31 August 2024

2024 2023
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Tangible assets 6 4,617 5,574

CURRENT ASSETS
Debtors 7 1,982 88
Cash at bank and in hand 25,098 26,177
27,080 26,265

CREDITORS
Amounts falling due within one year 8 (1,950 ) (1,860 )

NET CURRENT ASSETS 25,130 24,405

TOTAL ASSETS LESS CURRENT LIABILITIES 29,747 29,979

NET ASSETS 29,747 29,979
FUNDS 9
Unrestricted funds 29,747 29,979
TOTAL FUNDS 29,747 29,979

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.


Little Buds Pre-School Limited (Registered number: 06665325)

Balance Sheet - continued
31 August 2024

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


The financial statements were approved by the Board of Trustees and authorised for issue on 16 May 2025 and were signed on its behalf by:





Mr W A George - Trustee

Little Buds Pre-School Limited

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets
Tangible fixed assets are depreciated on the reducing balance method at the rate of 25% pa and at cost over 10 years. Individual items with a purchase price of £100 or less are written off to the SOFA when the asset is acquired.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.


Financial assets and liabilities
All financial assets and liabilities are basic short term financial instruments and accounted for at cost less provision for non-recovery where applicable. These comprise non-trade debtors and creditors realisable within one year.

Cash at bank and in hand comprises short term bank and cash deposits none of which have restricted access terms.




Little Buds Pre-School Limited

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

1. ACCOUNTING POLICIES - continued

Going concern
The Trustees have prepared the financial statements on the basis that the Charity will continue to operate in accordance with its Objects for a period of not less than 12 months from the date of approval of the financial statements.

Government grants
Grants are recognised on the accruals basis and are recognised in the SOFA when the company receives the right to receive the grant.

2. INVESTMENT INCOME
2024 2023
£    £   
Deposit account interest 87 76

3. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 685 794
Deficit on disposal of fixed assets 272 199

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.


5. STAFF COSTS

The average monthly number of employees during the year was as follows:

2024 2023
Caretakers (part-time) 2 2
Administration (part-time) 1 1
3 3

No employees received emoluments in excess of £60,000.


Little Buds Pre-School Limited

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

6. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property Equipment fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 5,808 1,697 2,703 499 10,707
Disposals - (797 ) (2,215 ) (499 ) (3,511 )
At 31 August 2024 5,808 900 488 - 7,196
DEPRECIATION
At 1 September 2023 871 1,261 2,517 484 5,133
Charge for year 581 57 47 - 685
Eliminated on disposal - (592 ) (2,163 ) (484 ) (3,239 )
At 31 August 2024 1,452 726 401 - 2,579
NET BOOK VALUE
At 31 August 2024 4,356 174 87 - 4,617
At 31 August 2023 4,937 436 186 15 5,574

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,849 -
Prepayments 133 88
1,982 88

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Accrued expenses 1,950 1,860

9. MOVEMENT IN FUNDS
Net
movement At
At 1.9.23 in funds 31.8.24
£    £    £   
Unrestricted funds
General fund 27,979 (232 ) 27,747
Redundancy fund 2,000 - 2,000
29,979 (232 ) 29,747
TOTAL FUNDS 29,979 (232 ) 29,747

Little Buds Pre-School Limited

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 14,365 (14,597 ) (232 )

TOTAL FUNDS 14,365 (14,597 ) (232 )


Comparatives for movement in funds

Net
movement At
At 1.9.22 in funds 31.8.23
£    £    £   
Unrestricted funds
General fund 29,155 (1,176 ) 27,979
Redundancy fund 2,000 - 2,000
31,155 (1,176 ) 29,979
TOTAL FUNDS 31,155 (1,176 ) 29,979

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 11,952 (13,128 ) (1,176 )

TOTAL FUNDS 11,952 (13,128 ) (1,176 )

A current year 12 months and prior year 12 months combined position is as follows:

Net
movement At
At 1.9.22 in funds 31.8.24
£    £    £   
Unrestricted funds
General fund 29,155 (1,408 ) 27,747
Redundancy fund 2,000 - 2,000
31,155 (1,408 ) 29,747
TOTAL FUNDS 31,155 (1,408 ) 29,747

Little Buds Pre-School Limited

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General fund 26,317 (27,725 ) (1,408 )

TOTAL FUNDS 26,317 (27,725 ) (1,408 )

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 August 2024.