REGISTERED COMPANY NUMBER: 04188152 (England and Wales)

REGISTERED CHARITY NUMBER: 1087832

THRESHERS DAY NURSERY

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Reference and administrative details

1

Report of the trustees

2

to

6

Independent examiner's report

7

Statement of financial activities

8

Balance sheet

9

to

10

Cash flow statement

11

Notes to the cash flow statement

12

Notes to the financial statements

13

to

19

TRUSTEES

I M Dawson Chair

T P Courtney FCCA Treasurer

S Moore

L A Powrie

T J Parry (appointed 25.7.24)

Mrs S D Gardner (appointed 23.6.25)

J S Allen (appointed 23.6.25)

C D Pierce (resigned 6.5.24)

M Carney JP Chair (resigned 26.9.24)

The Rev'd M T Skinner BA, MA (resigned 26.9.24)

Mrs S Horler (resigned 26.5.25)

COMPANY SECRETARY

I M Dawson

REGISTERED OFFICE

193 High Street

St Mary Cray

Orpington

Kent

BR5 4AX

REGISTERED COMPANY NUMBER

04188152 (England and Wales)

REGISTERED CHARITY NUMBER

1087832

INDEPENDENT EXAMINER

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

BANKERS

CAF Bank Ltd

25 Kings Hill Avenue

Kings Hill

West Malling

Kent ME19 4JQ

OFSTED UNIQUE REFERENCE

137251

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 March 2025. 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 and aims

The company was incorporated on 27 March 2001 and commenced operations in this form on 1 April 2001. The charity is constituted as a company limited by guarantee, and is accordingly governed by a Memorandum and Articles of Association. It is also a registered charity whose objectives are:

-

To advance the education of children below school age in the London Borough of Bromley,

-

To provide for the care and education of children in need of care during out of school hours and school holidays,

-

To provide facilities for recreation and other leisure time occupation of such children in the interests of social welfare with the objects of improving the conditions of life for such children.

Threshers Day Nursery is governed by the Board of Trustees and is registered by OFSTED for children from age 12 months to 5 years. The nursery aims to make day care available to all sectors of the local community. Fees are kept as low as economically possible and a discretionary bursary scheme is run to assist families in need, including assisting in the payment of children' fees where parents are experiencing financial difficulties. The Nursery's aim is to make places available immediately on request. If this cannot be achieved the child's name will go on a waiting list. Sympathetic consideration is given to children recommended by LB of Bromley Social Services Department or by a GP or Health Visitor.

To further these aims and objectives the Nursery will:

-

Promote the Nursery in the local community

-

Describe the Nursery and its practices in terms which make it clear that it welcomes all family members and carers regardless of cultural, ethnic, religious and social group or having any disability.

-

Remain open 51 weeks of the year - closing only for the Christmas week.

-

Advise all enquirers of the Nursery's OFSTED Registration.

-

Maintain a transparent fee and session structure.

Operational policy

The Nursery is required to meet the Statutory and Non Statutory Requirements of the Early Years Foundation Stage as required by OFSTED and seeks to improve the quality of care for children by offering appropriate developmental activities with a high level of adult input in an environment that is safe, stimulating and secure. The Nursery aims to provide opportunities for the children to explore, acknowledge and to value similarities and differences between themselves and others, as well as develop a sense of independence and an ability to make choices and express their feelings. The Nursery is on the Early Years Register in order to comply with the requirements of OFSTED.

The Government funds local authorities via the Early Years Funding Scheme to pay for children to receive day care in early year settings such as Threshers Day Nursery. Many of the children who attend Threshers are entitled to this funding. Three and four year olds have universal entitlements to 15 hours a week funded care. An additional 15 hours of funded care is provided to working parents (30 hours in total). Eligible two year old children and below are also entitled to funding subject to their family's income. Some children are funded by Social Services Department under the Children Act 1989, section 18 (children who require day care for purposes of good development of their health, are disabled or in need of protection). Children who do not meet the Government funding criteria are also admitted to the Nursery on a fee paying basis. Meals and refreshments are supplied. The charity employs 20 permanent staff as well as 4 bank staff, apprentices, and offers placements to students who are studying childcare courses. The charity is organised so that the trustees meet at least 4 times a year to manage its affairs.

The current level of Government nursery funding will be increased for eligible working families from September 2025 and Threshers will be working with the local authority, LB Bromley to see how this will operate.

Public benefit

The trustees consider that the objectives and aims of the charity described above enable it to meet its obligations to the Charity Commission to advance the education of children below school age and provide care and recreational opportunities to children in the interests of social welfare and to improve the conditions of life for such children. These are further confirmed by its achievements and performances as outlined herein.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The day to day running of the nursery is delegated by the trustees to the Manager, Mrs Blerta Bejtja. Trustees continue to appreciate the hard work that Blerta and her team play in maintaining high standards in day to day operations.

A weekly sports class sponsored by the nursery was introduced in March 2023. It provides recreational activities benefiting all of the children in terms of fitness, fun and friendship in a safe and nurturing environment, supervised by professional coaches.

The Nursery was inspected without notice being given, on December 12th 2024 by Ofsted, under sections 49 and 50 of the Childcare Act 2006. The Inspector undertook a "learning walk" with the Manager and spoke to staff and a group of parents that were attending a Nursery event on that day, and then spoke with the Chair and Vice Chair after to gain an insight in to the longer term plans for the Nursery.

Ofsted's assessment was "Good" across all four categories of Quality of Education, Behaviour and Attitudes, Personal Development, and Leadership and Management. The Inspector made only one recommendation for improving standards further concerning continuing to improve children's understanding of health and wellbeing. The Board receives periodic reports on the implementation of this recommendations.

An annual staff appraisal system is in place for all permanent staff with targets established for the further development of the Nursery. Appropriate training is provided to support these plans. Early Years Advisory Teachers and an Area SENCO both provide access to specialist advice and support.

Each year a Graduation Day is held for all pre-school children and this has proven to be popular. Parents have enjoyed celebrating their child's journey at the nursery and it is a proud moment for the staff and parents to see the children growing up and what they have achieved.

The Nursery prides itself on maintaining very positive relations with parents and to achieve this staff seek to behave in a professional manner at all times. As much notice as possible is given when it becomes necessary to increase fees and, if appropriate, additional support may be available through the Bursary Fund.

New Build

The Official Opening of our new building took place on 19 July 2024, with the Deputy Mayor and Mayoress plus community representatives in attendance, together with supporters, parents, children, staff and Trustees. The first phase of a Playscape Scheme has commenced, with the installation of a large purpose-built canopy to allow children to play outdoors in all weathers, and an upgraded sand pit!.

To match our smart new building we completely refurbished our existing kitchen situated in the original building, during the Summer holidays so that we could continue to provide a cooked meal every day for every child.

FINANCIAL REVIEW

Financial position

Following the successful completion of the state of the art nursery building in January 2025, Threshers has enjoyed an excellent years trading in 2024/25.

Net income for the year was £62,720 (2024-£11,999) which exceeded budget and the prior year, even allowing for the additional cost of rent and light heat & power incurred during the building construction phase in 2024. These trading results were achieved by an increase in the level of Funding income for working parents of two year olds that more than offsetting the anticipated reduction in parent fees. Occupancy levels remained high throughout the year. Nursery management has continued to maintain control over operating costs wherever possible.

Interest income from term deposits declined as cash resources were used to fund the capital expenditures of the previous year.

Fundraising activities again made an excellent contribution. The Fundraising Committee's work is much appreciated as is the continuing third party support, primarily from Barings and Frankhams.

Reserves policy

In accordance with Charity Commission reserve fund guidelines, the Board has made the following provisions having regard to its' attitude to risk.

Disruption Fund - This fund was set up to cover any prolonged period of dislocation or possible termination of Nursery activities, comprising an estimated £73,000 of liabilities to cover employee benefits, if the Charity had to cease trading, and £110,000 being approx 3 months-worth of fixed operating costs. As a result, the Board agreed to retain a minimum reserve in various cash deposits of £183,000. This sum will be reviewed periodically and updated as necessary.

Bursary Fund - This fund was set up to help disadvantaged children attending the Nursery. £5,000 (2024 - £5,000).

Incoming resources amounted to £548,137 (2024 - £500,130) comprising of fees receivable of £144,902 (2024 - £187,357), Education grant £372,209 (2024 - £277,667). Local Authority Fees £12,502 (2024 - £9,723), donations and contributions of £9,731 (2024 - £7,550), and investment income of £8,793 (2024 - £17,833). Unrestricted resources expended amounted in total to £485,417 (2024 - £488,132). Total net incoming/(outgoing) resources for the year were £62,270 (2024 - £11,999).

FUTURE PLANS

New 3 year Business Plan

Our previous Strategic business plan ran from 2022 to 2025, so late in 2024 the Board commenced the process of formulating a fresh plan for the next 3 years. After taking input from Trustees, Management and Staff and considering relevant external factors, a new business plan was signed off by the Board in January 2025 including key objectives such as Trustee recruitment, updating our website, maintaining 'Good' Ofsted reports whilst maintain tight controls on our finances in the light of uncertain financial indicators nationally.

Our new Lease

Work has commenced with the landlords, the London Borough of Bromley, to review the lease on the original building onsite, which is due to expire in December 2027. The Nursery is protected by a secured tenancy under the Landlord and Tenant Act 1954.

The Council has advised that it will commence discussions concerning the Nursery's new lease one year before the expiry of the current lease on 21 December 2027. This will include the revised rent, which the Council has indicated will be based on a commercial valuation, in accordance with its new policy. However, for charities such as Threshers Day Nursery, the new commercial rent is likely to be phased in over a three-year period. It will be necessary in due course for the Trustees to make appropriate provision for the anticipated additional cost.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document a Memorandum and Articles of Association. It is constituted as a limited company, limited by guarantee, as defined by the Companies Act 1985. The current Governing document was signed off by trustees in July 2020.

Recruitment and appointment of new trustees

The Board has the power to appoint additional trustees subject to a clearance from the Disclosure and Barring Service (DBS), formerly CRB, and the approval of the Office for Standards in Education (OFSTED).

As mentioned above, the active recruitment of new trustees with appropriate skills are a key objective over the next year or so to ensure meetings are always quorate and that a sufficient diversity of opinions can be sought before decisions are made.

Suitable candidates can be either appointed on the recommendation of other trustees or local organisations, or by application to the Nursery direct. A new recruitment process has been drafted ensuring comprehensive induction and targeting training is provided to ensure new joiners can contribute as quickly as possible.

The Board recognises and thanks the valuable contributions made to the running of the Nursery by Mike Carney, Sue Horler, Michael Skinner and Chris Pierce, all of whom resigned since the last reporting year.

Key management remuneration

The emoluments of key management was as follows:

2025

2024

£

£

Nursery manager

45,369

42,353

Risk management

The safety of the children, staff, parents and visitors is of paramount importance. Risk assessments for Covid 19 and fire safety have been carried out. Any reports by the Environmental Health Officers (EHOs) are brought to the attention of the Trustees and any recommendations are promptly acted upon. The nursery has again been awarded 5 stars at the last EHO inspection.

All of the policies of the nursery are reviewed annually, or more frequently as changes to regulations come into place. This process ensures they are always in line with The Early Years Foundation Stage Statutory Framework.

At Threshers Day Nursery, safeguarding is a key governance priority. All safeguarding concerns are reported to a designated trustee, Lynne Powrie, who works closely with the management on any issues. Concerns are raised with staff initially. Safeguarding is on the agenda of every board meeting and any reports are shared with the board. These reports would include the number, nature and resulting referrals that might occur and any recommendations and/or implications for the organisation. All staff are trained annually in safeguarding and work with a sound knowledge of Threshers safeguarding policy. The Manager and Deputy Manager receive Designated Safeguarding Leads training every two years and trustees also receive training. Threshers follows the DBS Code of Practice and receives OFSTED inspections.

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 21 August 2025 and signed on its behalf by:

I M Dawson - Trustee

Independent examiner's report to the trustees of Threshers Day Nursery ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

Paul S Allan BSocSc FCA

Berringers LLP

Chartered Accountants

Lygon House

50 London Road

Bromley

Kent

BR1 3RA

21 August 2025

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

9,731

-

9,731

7,550

Charitable activities

4

Provision of care and education

529,613

-

529,613

474,747

Investment income

3

8,793

-

8,793

17,833

Total

548,137

-

548,137

500,130

EXPENDITURE ON

Raising funds

5

2,812

-

2,812

-

Charitable activities

6

Provision of care and education

482,605

-

482,605

485,156

Total

485,417

-

485,417

485,156

Net gains/(losses) on investments

-

-

-

(2,975

)

NET INCOME

62,720

-

62,720

11,999

RECONCILIATION OF FUNDS

Total funds brought forward

712,382

-

712,382

700,383

TOTAL FUNDS CARRIED FORWARD

775,102

-

775,102

712,382

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

528,870

-

528,870

528,471

CURRENT ASSETS

Debtors

12

13,378

-

13,378

17,020

Cash at bank and in hand

243,564

-

243,564

250,617

256,942

-

256,942

267,637

CREDITORS

Amounts falling due within one year

13

(10,710

)

-

(10,710

)

(83,726

)

NET CURRENT ASSETS

246,232

-

246,232

183,911

TOTAL ASSETS LESS CURRENT LIABILITIES

775,102

-

775,102

712,382

NET ASSETS

775,102

-

775,102

712,382

FUNDS

15

Unrestricted funds

775,102

712,382

TOTAL FUNDS

775,102

712,382

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 21 August 2025 and were signed on its behalf by:

T P Courtney FCCA - Trustee

Cash flows from operating activities

Cash generated from operations

1

25,732

114,846

Net cash provided by operating activities

25,732

114,846

Cash flows from investing activities

Purchase of tangible fixed assets

(41,578

)

(561,794

)

Purchase of fixed asset investments

-

(1,400

)

Sale of fixed asset investments

-

100,186

Interest received

8,793

17,833

Net cash used in investing activities

(32,785

)

(445,175

)

Change in cash and cash equivalents in the reporting period

(7,053

)

(330,329

)

Cash and cash equivalents at the beginning of the reporting period

250,617

580,946

Cash and cash equivalents at the end of the reporting period

243,564

250,617

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of financial activities)

62,720

11,999

Adjustments for:

Depreciation charges

41,171

36,076

Losses on investments

-

2,975

Loss on disposal of fixed assets

8

6,000

Interest received

(8,793

)

(17,833

)

Decrease in debtors

3,642

5,330

(Decrease)/increase in creditors

(73,016

)

70,299

Net cash provided by operations

25,732

114,846

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

250,617

(7,053

)

243,564

250,617

(7,053

)

243,564

Total

250,617

(7,053

)

243,564

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, with the exception of investments which are included at market value.

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. Donations includes voluntary income from fundraising activities.

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.

Governance costs

Governance costs comprise the legal and statutory costs of operating the charity.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

New Build 2024

-

Straight line over 25 years

Improvements to property

-

Straight line over 10 years and Straight line over 3 years

Fixture, fittings & equipment

-

33% on cost

The Trustees consider that no impairment of fixed assets is deemed necessary.

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.

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Play equipment

The purchase of play equipment is debited to the Income and Expenditure Account each year. In addition the charity receives many items of play equipment and consumables from donations during the year but it is not possible to quantify the value.

Investments

Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes net gains and losses arising on revaluations.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

9,731

7,550

3.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

8,793

16,433

Investment income from quoted investments

-

1,400

8,793

17,833

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

£

£

Local Authority Fees

12,502

9,723

Parents' Fees

144,902

187,357

Education grants

372,209

277,667

529,613

474,747

5.	RAISING FUNDS

The fund raising costs in the year mainly relate to costs associated with the celebrations of the grand opening of the new wing.

6.	CHARITABLE ACTIVITIES COSTS

2025

2024

£

£

Provision of care and education

Wages, Social Security & Pension

369,688

337,545

Nursery Costs

103,495

133,689

Support Costs

9,422

13.922

482,605

485,156

7.	SUPPORT COSTS

Governance

Other

costs

Totals

£

£

£

Provision of care and education

7,582

1,840

9,422

8.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Depreciation - owned assets

41,171

36,076

Deficit on disposal of fixed assets

8

6,000

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10.	STAFF COSTS

2025

2024

£

£

Salaries

335,474

306,003

Social security costs

15,728

13.602

Pensions

8,214

7,462

Cleaning

6,066

5,668

Training

2,541

3,890

Recruitment costs

1,725

920

369.688

337,545

No employee earned more than £60,000 per annum.

There were 15 (2024 - 15) full time employees assisted by part time employees and volunteers during the year, all engaged in charitable activities. The total average number of staff employed was 21 (2024 - 20).

11.	TANGIBLE FIXED ASSETS

Improvements

Fixture,

New Build

to

fittings

2024

property

& equipment

Totals

£

£

£

£

COST

At 1 April 2024

494,998

130,609

42,821

668,428

Additions

-

26,297

15,281

41,578

Disposals

-

-

(2,342

)

(2,342

)

At 31 March 2025

494,998

156,906

55,760

707,664

DEPRECIATION

At 1 April 2024

19,800

85,570

34,587

139,957

Charge for year

19,800

12,151

9,220

41,171

Eliminated on disposal

-

-

(2,334

)

(2,334

)

At 31 March 2025

39,600

97,721

41,473

178,794

NET BOOK VALUE

At 31 March 2025

455,398

59,185

14,287

528,870

At 31 March 2024

475,198

45,039

8,234

528,471

12.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Debtors

5,090

10,870

Prepayments and accrued income

8,288

6,150

13,378

17,020

13.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Social security and other taxes

4,463

4,302

Fees Received in Advance

254

630

Accruals and deferred income

5,993

78,794

10,710

83,726