Little Treasures 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—15

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Company No. 04029930

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 years. 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. Looking ahead, we will continue to focus on growing our base and supporting our staff.

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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Little Treasures 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

Little Treasures Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Little Treasures 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.

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 directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, 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 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.

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Independent Auditor's Report (continued)

to the Members of

Little Treasures Limited

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.

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

Little Treasures 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

Little Treasures Limited

Robert Wilson FCA (Senior Statutory Auditor)

for and on behalf of Godrey Wilson Limited , Statutory Auditor

26/09/2025

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Little Treasures Limited

Profit and Loss Account

For The Year Ended 31 March 2025

Profit and Loss Account

		2025	2024
	Notes	£	£
TURNOVER	3	1,118,217	792,372
Cost of sales		(820,171 )	(672,800 )

GROSS PROFIT		298,046	119,572

Administrative expenses		(146,644 )	(106,596 )

OPERATING PROFIT AND PROFIT FOR THE FINANCIAL YEAR		151,402	12,976

The notes on pages 11 to 15 form part of these financial statements.

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Little Treasures Limited

Balance Sheet

As At 31 March 2025

Balance Sheet

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	7		1,056,475		934,625

			1,056,475		934,625
CURRENT ASSETS
Debtors	8	122,284		118,698
Cash at bank and in hand		191,795		119,067

		314,079		237,765
Creditors: Amounts Falling Due Within One Year	9	(769,714 )		(568,009 )

NET CURRENT ASSETS (LIABILITIES)			(455,635 )		(330,244 )

TOTAL ASSETS LESS CURRENT LIABILITIES			600,840		604,381

NET ASSETS			600,840		604,381

CAPITAL AND RESERVES
Called up share capital	10		4		4
Revaluation reserve	11		274,344		279,551
Profit and Loss Account			326,492		324,826

SHAREHOLDERS' FUNDS			600,840		604,381

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 15 form part of these financial statements.

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Little Treasures Limited

Statement of Changes in Equity

For The Year Ended 31 March 2025

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 April 2023	4	284,758	336,281	621,043
Profit for the year and total comprehensive income	-	-	12,976	12,976

Distribution to parent charity	-	-	(29,638)	(29,638)
Transfer from revaluation reserve	-	-	5,207	5,207
Transfer to/from Profit & Loss Account	-	(5,207 )	-	(5,207)

As at 31 March 2024 and 1 April 2024	4	279,551	324,826	604,381


Profit for the year and total comprehensive income	-	-	151,402	151,402

Distribution to parent charity	-	-	(154,943)	(154,943)
Transfer from revaluation reserve	-	-	5,207	5,207
Transfer to/from Profit & Loss Account	-	(5,207 )	-	(5,207)

As at 31 March 2025	4	274,344	326,492	600,840

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Little Treasures Limited

Notes to the Financial Statements

For The Year Ended 31 March 2025

Notes to the Financial Statements

1. General Information

Little Treasures Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04029930 . The registered office is Broomhall Grange, Norton Road, Worcester, Worcestershire, WR5 2PD.

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.

At the balance sheet date the Company held significant cash balances. The Company has significant reserves, which are sufficient to absorb short-term deficits if required.

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.

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Little Treasures Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.4. 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:

Freehold	2% straight line
Fixtures & Fittings	15% straight line
Computer Equipment	25% straight line

No depreciation is charged on Assets Under Construction.

Revaluation of tangible fixed assets

Individual freehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the Balance sheet date.

Fair values are determined from market-based evidence normally undertaken by professionally qualified valuers. The property was last valued in March 2023, being a directors valuation based upon a range of valuations provided to it by a third party RICS Registered Valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

2.5. 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	1,118,217	792,372

	1,118,217	792,372

4. Operating Profit

The operating profit is stated after charging:

Audit fees excluding VAT of £11,870 (2024: £6,000), include an under accrual relating to the 2023 audit of £5,370.

	2025	2024
	£	£
Bad debts	1,794	-
Depreciation of tangible fixed assets	17,791	17,727

5. Average Number of Employees

Average number of employees, including directors, during the year was: 36 (2024: 36)

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Little Treasures Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

6. Tax on Profit

	Tax Rate		2025	2024
	2025	2024	£	£
Current tax
UK Corporation Tax	19.0%	19.0%	-	-


			2025	2024
			£	£
Profit before tax			151,402	12,976

Breakdown of tax charge is:
Tax on profit at 19% (UK standard rate)			28,767	2,465
Goodwill/depreciation not allowed for tax			409	3,368
Expenses not deductible for tax purposes			285	-
Capital allowances			(21 )	(202 )
Revenue exempt from taxation			(29,440 )	(5,631 )

Total tax charge for the period			-	-

7. Tangible Assets

	Land & Property
	Freehold	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost or Valuation
As at 1 April 2024	950,000	66,314	9,816	1,026,130
Additions	139,640	-	-	139,640
Disposals	-	(63,932 )	(9,816 )	(73,748 )

As at 31 March 2025	1,089,640	2,382	-	1,092,022

Depreciation
As at 1 April 2024	17,370	64,319	9,816	91,505
Provided during the period	17,433	357	-	17,790
Disposals	-	(63,932 )	(9,816 )	(73,748 )

As at 31 March 2025	34,803	744	-	35,547

Net Book Value
As at 31 March 2025	1,054,837	1,638	-	1,056,475

As at 1 April 2024	932,630	1,995	-	934,625

Freehold property additions includes £133,295 of assets under construction.

The value of freehold land and property held at fair value as at 31 March 2025 (excluding assets under construction) if it were accounted for under historical cost accounting rules, would be a net book value of £640,915 (2024: £653,079), with a cost of £665,242 (2024: £665,242) less accumulated depreciation of £24,326 (2024: £12,163).

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Little Treasures Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

8. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	92,122	89,970
Prepayments and accrued income	2,423	-
Other debtors	1,057	-
Amounts owed by group undertakings	26,682	28,728

	122,284	118,698

9. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	71,590	4,469
Other taxes and social security	17,097	27,107
Other creditors	1,838	3,680
Deferred income	111,110	111,722
Accruals	28,881	17,379
Amounts owed to group undertakings	539,198	403,652

	769,714	568,009

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	4	4

11. Reserves

	Revaluation Reserve
	£
As at 1 April 2024	279,551
Transfer to profit and loss	(5,207 )

As at 31 March 2025	274,344

The revaluation reserve arose upon the revaluation of the freehold property. The property was valued by the directors in March 2023. The open market valuation was deemed to be £950,000.

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Little Treasures Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

12. Related Party Transactions

Little Treasures Limited is 100% owned by Worcester YMCA, Gordon Anstis House, Loxley Close, Redditch, B98 9JS, (company number 05056873). At 31 March 2025 Little Treasures Limited owed Worcester YMCA £439,197 (2024: £313,893).

Worcester YMCA is also the 100% owner of First Class Nursery (Kidderminister) Limited (company number 08887253). At 31 March 2025 Little Treasures Limited owed First Class Nursery (Kidderminister) 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. At 31 March 2025 Little Treasures Limited was owed by Worcestershire YMCA £26,682 (2024: £28,728).

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.

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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