First Class Nursery (Kidderminster) Limited

	Page
Company Information	1
Directors' Report	2—3
Independent Auditor's Report	4—7
Profit and Loss Account	8
Balance Sheet	9
Statement of Changes in Equity	10
Notes to the Financial Statements	11—16

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Company No. 08887253

Directors' Report For The Year Ended 31 March 2025

Directors' Report

The directors present their report and the financial statements for the year ended 31 March 2025.

Review of the Business

The company is pleased to report a surplus for the year, which is an improvement from the previous year's deficit. In recognition of its role as a subsidiary company of a charity, this company has made a significant payment under Gift Aid to the parent charity. We are committed to continuing to expand our reach and provide comprehensive support to our employees.

Directors

The directors who held office during the year were as follows:

Lindsay Sartori

Simon Hill

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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First Class Nursery (Kidderminster) Limited

Directors' Report (continued)

For The Year Ended 31 March 2025

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Directors' Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the company during the year and have expressed their willingness to continue in that capacity.

Small Company Rules

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

On behalf of the board

Lindsay Sartori

Director

26/09/2025

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Independent Auditor's Report

to the Members of

First Class Nursery (Kidderminster) Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of First Class Nursery (Kidderminster) Limited for the year ended 31 March 2025 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes of Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 - Section 1A for Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit/(loss) for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

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 company 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 the provisions available for small entities, in the circumstances set out in note 13 to the financial statements, 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.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the entity's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

First Class Nursery (Kidderminster) Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit, or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 2—3, the directors 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 directors 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 directors are responsible for assessing the company'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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

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Independent Auditor's Report (continued)

to the Members of

First Class Nursery (Kidderminster) Limited

Auditor's Responsibilities for the Audit of the Financial Statements

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:

(1) We obtained an understanding of the legal and regulatory framework that the company operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the company’s policies and procedures in relation to:

• Identifying, evaluating and complying with laws and regulations, and whether they were aware of any instances of non-compliance;

• Detecting and responding to the risk of fraud, and whether they were aware of any actual, suspected or alleged fraud; and

• Designing and implementing internal controls to mitigate the risk of non-compliance with laws and regulations, including fraud.

(3) We inspected the minutes of director meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

• Testing the appropriateness of journal entries;

• Assessing judgements and accounting estimates for potential bias;

• Reviewing related party transactions; and

• Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website 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 Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that 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.

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Independent Auditor's Report (continued)

to the Members of

First Class Nursery (Kidderminster) Limited

Robert Wilson FCA (Senior Statutory Auditor)

for and on behalf of Godrey Wilson Limited , Statutory Auditor

26/09/2025

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First Class Nursery (Kidderminster) Limited

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	422,721	297,329
Cost of sales		(310,070 )	(267,783 )

GROSS PROFIT		112,651	29,546

Administrative expenses		(47,723 )	(50,428 )

OPERATING PROFIT/(LOSS) AND PROFIT/(LOSS) BEFORE TAXATION		64,928	(20,882 )
Tax on Profit/(loss)	6	(4,553 )	400

PROFIT/(LOSS) AFTER TAXATION BEING PROFIT/(LOSS) FOR THE FINANCIAL YEAR		60,375	(20,482 )

The notes on pages 11 to 16 form part of these financial statements.

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First Class Nursery (Kidderminster) Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	8		398		554

			398		554
CURRENT ASSETS
Debtors	9	638,338		95,282
Cash at bank and in hand		305,526		922,447

		943,864		1,017,729
Creditors: Amounts Falling Due Within One Year	10	(944,260 )		(1,043,479 )

NET CURRENT ASSETS (LIABILITIES)			(396 )		(25,750 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2		(25,196 )

NET ASSETS/(LIABILITIES)			2		(25,196 )

CAPITAL AND RESERVES
Called up share capital	11		2		2
Profit and Loss Account			-		(25,198 )

SHAREHOLDERS' FUNDS			2		(25,196)

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

On behalf of the board

Lindsay Sartori

Director

26/09/2025

The notes on pages 11 to 16 form part of these financial statements.

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First Class Nursery (Kidderminster) Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 April 2023	2	(4,716 )	(4,714)
Loss for the year and total comprehensive income	-	(20,482 )	(20,482)

As at 31 March 2024 and 1 April 2024	2	(25,198 )	(25,196)


Profit for the year and total comprehensive income	-	60,375	60,375

Distribution to parent charity	-	(35,177)	(35,177)

As at 31 March 2025	2	-	2

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

First Class Nursery (Kidderminster) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08887253 . The registered office is First Class Nursery, Lister Road, Kidderminster, Worcestershire, DY11 6NN.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Going Concern Disclosure

At the time of signing the financial statements, the Directors have considered the continuing effects of inflationary pressures being felt in the wider economy on the going concern position, and consider that this does indicate that the Company will continue to operate for a period of at least 12 months from the date of signing these financial statements. In making this assessment, the Directors have considered the recent changes in funding being provided to childcare settings, and have considered the support that both its parent charity, Worcester YMCA, and ultimate controlling party, Worcestershire YMCA Limited have confirmed they will provide to the Company.

The financial forecasts prepared show that the Company will be able to pay its liabilities as they fall due with continued Worcester YMCA and Worcestershire YMCA Limited support. On this basis the directors have prepared these financial statements on a going concern basis.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.4. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10% straight line basis
Fixtures & Fittings	15% straight line basis

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2.7. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Turnover

Analysis of turnover by geographical market is as follows:

	2025	2024
	£	£
United Kingdom	422,721	297,329

	422,721	297,329

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

4. Operating Profit/(loss)

The operating profit/(loss) is stated after charging:

Audit fees excluding VAT of £8,350 (2024: £7,500), include an under accrual relating to the 2023 audit of £1,850 (2024: £1,000).

	2025	2024
	£	£
Bad debts	52	63
Depreciation of tangible fixed assets	156	156
Amortisation of intangible fixed assets	-	9,750

5. Average Number of Employees

Average number of employees, including directors, during the year was: 15 (2024: 15)

6. Tax on Profit

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	25.0%	19.0%	4,553	(400 )


Total tax charge for the period			4,553	(400 )


			2025	2024
			£	£
Profit before tax			64,928	(20,882)

Breakdown of tax charge is:
Tax on profit at 25% (UK standard rate)			16,232	(3,967 )
Goodwill/depreciation not allowed for tax			39	1,882
Expenses not deductible for tax purposes			375	-
Tax losses utilised			(2,218 )	-
Difference in tax rates			(1,081 )	-
Revenue exempt from taxation			(8,794 )	-
Tax losses unutilised carried forward			-	1,685

Total tax charge for the period			4,553	(400)

The difference in tax rates represents marginal rate relief.

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

7. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	90,000

As at 31 March 2025	90,000

Amortisation
As at 1 April 2024	90,000

As at 31 March 2025	90,000

Net Book Value
As at 31 March 2025	-

As at 1 April 2024	-

8. Tangible Assets

	Land & Property
	Leasehold	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 April 2024	1,558	5,256	6,814
Disposals	-	(5,256 )	(5,256 )

As at 31 March 2025	1,558	-	1,558

Depreciation
As at 1 April 2024	1,004	5,256	6,260
Provided during the period	156	-	156
Disposals	-	(5,256 )	(5,256 )

As at 31 March 2025	1,160	-	1,160

Net Book Value
As at 31 March 2025	398	-	398

As at 1 April 2024	554	-	554

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	1,091	5,159
Prepayments and accrued income	1,142	360
Corporation tax recoverable assets	-	4
Amounts owed by group undertakings	636,105	89,759

	638,338	95,282

10. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	2,720	4,147
Corporation tax	4,553	-
Other taxes and social security	1,285	11,543
Accruals	9,194	10,980
Amounts owed to group undertakings	926,508	1,016,809

	944,260	1,043,479

11. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2	2

12. Related Party Transactions

During the year, purchases of £nil (2024: £695) were made from a close relation of a member of key management personnel. At the year end, there was £nil outstanding (2024: £nil).

First Class Nursery (Kidderminster) Limited is 100% owned by Worcester YMCA, Gordon Anstis House, Loxley Close, Redditch, B98 9JS, (company number 05056873). At 31 March 2025 First Class Nursery (Kidderminster) Limited owed Worcester YMCA £926,508 (2024: £959,503).

Worcester YMCA is also the 100% owner of Little Treasures Limited (company number 04029930). At 31 March 2025 First Class Nursery (Kidderminster) Limited was owed by Little Treasures Limited £100,000 (2024: £89,759).

Worcestershire YMCA Limited, Gordon Anstis House, Loxley Close, Redditch, B98 9JS, (company number 01944516) is the 100% owner of Worcester YMCA and the ultimate controlling party of the group of companies to which First Class Nusery (Kidderminster) Limited belongs. At 31 March 2025 First Class Nursery Limited was owed from Worcestershire YMCA Limited £536,105 (2024: owed to £57,306).

13. FRC's Ethical Standard - Provision Available for Small Entities

In common with other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

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First Class Nursery (Kidderminster) Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

14. Ultimate Controlling Party

The Company is a wholly owned subsidiary of Worcester YMCA, a company registered in England and Wales, whose ultimate parent undertaking is Worcestershire YMCA Limited, a company registered in England and Wales. Worcestershire YMCA Limited is controlled by its board of trustees.

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