REGISTERED COMPANY NUMBER: 02277014 (England and Wales)

REGISTERED CHARITY NUMBER: 519937

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025

FOR

THE HEBDEN BRIDGE NURSERY ACTION

GROUP LIMITED

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

to

20

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 charity's objects are to advance the education of children below compulsory school age in the Electoral Wards of Calder Valley and Luddenden Foot of the the Metropolitan Borough of Calderdale and its surrounding districts and in particular for the children of lone parent families by:

a) Providing safe and satisfying group play in which parents have the right to take part

b) Educating and informing the general public and official bodies by publicising the work of the association and by making it known the needs of lone parents and other families with dependant children

c) Encouraging other charitable activities through which parents may help the children

The charity's aim is to provide high quality childcare in a nurturing and stimulating environment. The charity also aims as a charitable organisation to be affordable and accessible to as wide a range of people as possible and to be integrated into our local community.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The charity has continued to provide day care nursery facilities to children below compulsory school age during the year under review.

The total income for the year was £775,088 (2024: £601,516) resulting in an inflow/(outflow) of £136,803 (2024: £1,548).

Performance

In 2024-25 The Nursery continued to deliver caring and good quality nursery care to the children of Hebden Bridge. The trustees remain very grateful to the staff and management team for the care and diligence they bring to Crossley Mill. The number of children enrolled remains high, both for the Nursery and for the holiday club (with sizeable waiting lists) and these both reflect the esteem in which the nursery is held and also the need for our services.

The implication of these high rolls financially is that in FY25 we have continued to consolidate financially and save towards building works to extend our estate in the future as part of our long-term plan to increase provision and provide more varied facilities to the future children at the Nursery. In 2024-25 the architect commissioned by Crossley Mill has progressed designs and consulted stakeholders, meaning that we anticipate being in a position to seek planning permission in the Autumn of 2025. Last year in the Annual Report we indicated that building works would be c. 3-5 years in the future; the progress this year indicates that timeline remains on track.

This is in addition to the short-term investments we make in the fabric of the building, which have continued, including a refurbishment of the staff-room which in previous years had been deprioritised in favour of improvements to childcare rooms. The Board were pleased to be able to fund these modest but high-impact improvements, enabling staff to relax and reset in between caring for children - which we are confident our parents and carers will endorse is necessary.

As reported last year, we have prepared to update the Articles of Association, effectively our constitution which sets out how Nursery will be governed as a charity. To recap: our existing articles date back c. 30 years and charity legislation has moved on, as have governance practices. In 2024-25 we consulted on the revised Articles with Members and also from the Charity Commission. In Autumn 2025 this will progress to a Special Resolution to adopt the new Articles, and then final approval from the Charity Commission.

Finally, as Chairman, I wish to thank the trustees who serve on the Board for their continuing voluntary support. The variety of experiences, and consistency of commitment, benefits the Nursery considerably.

FINANCIAL REVIEW

Nursery

Early Education grant

The charity receives, on behalf of parents with eligible children, education grant monies from the local education authority. The education grant covers up to a maximum 30 hours education funding per week for a maximum of thirty eight weeks per year during the term time however the nursery has taken the decision to spread the offering from the local education authority over 50 weeks of the year allowing parents more access to childcare outside term time. The Early Education Funding grant is accounted for separately as a restricted fund.

Investment policy

The charity put in place in 2017-18 an updated Investment Policy in line with Charity Commission guidelines that cash reserves should be invested appropriately. The revised policy required the charity to invest a subset of our cash reserves. in an appropriately low-risk, ethical investment vehicle. The charity took steps in 2018-19 to execute this policy and invest in a specialist charity investment fund. The Investment Policy & Reserves policy has been reviewed in March 2025.

Reserves policy

The trustees have considered, in line with Charity Commission guidelines, what their reserve requirements are and have set a policy which reflects their wish to maintain their activities. The total capital and reserves at 31 March 2025 were £606,692 (2024: £469,889).

The funds split at 31st March 2025 was:

Unrestricted £410,061

Restricted £196,631

The trustees consider that the above resources are sufficient to support and maintain the charity's programme of services. The ethical investment trust and deposit bank account holds our 'Reserves' and should hold sufficient money to meet all outstanding liabilities.

Crossley Mill Nursery is located in a stone built building on the canal side. The site is considered secure although it is possible that the building could be vandalised or burnt down. Insurance to the value of the building and contents must be in place for this eventuality and any costs which arise as a consequence thereof. Following careful consideration of the current inherent risks of operating in childcare, a reserves target of between three and four months of staff wages (incl. holiday pay) plus any intended capital expenditure is considered to be sufficient. This represents a range of £100,000 to £120,000 excluding any capital expenditure planned. This range will cover perceived risks in allowing expenditure to be met and ensure best bank rates whilst ensuring money is not being held inappropriately. This policy is reviewed on an annual basis.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Hebden Bridge Nursery Action Group Limited is a charitable company limited by guarantee, incorporated 14 July 1988 and registered as a charity on 27 July 1988. The company was established under a Memorandum of Articles which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members have agreed to contribute a sum not exceeding £1.

Appointment and retirement of trustees

The number of trustees must not be less than three or more than twenty at any time.

Trustees are required to retire from office on a rotation basis at the Annual General Meeting. The trustees required to retire by rotation are those who have been longest in office.

If the charity, at the meeting at which a trustee retires by rotation, does not fill the vacancy the retiring trustee, if willing to act, is reappointed unless it has been resolved at a meeting not to fill the vacancy.

No other person can be appointed or reappointed as trustee unless they are recommended by the trustees. additional trustees can be appointed provided that it does not exceed the fixed number of appointments in accordance with the Articles of Association.

The induction of new trustees is completed by existing trustees.

Organisational structure and how decisions are made

The charity is required to hold not less than two General Meetings, including an Annual General Meeting, in every calendar year at such time and place as is determined by the Board.

The board can, whenever it thinks fit, convene an Extraordinary General Meeting, and will upon requisition of not less than ten members, convene an Extraordinary General Meeting.

A resolution put to the vote of the meeting is decided on a show of hands, unless a poll is, before or upon the declaration of the result of the show of hands, demanded by the Chairperson or at least three members present in person.

Each member has one personal vote at a General Meeting and all votes must be given personally.

In a case of equality votes, whether on a show of hands or on a poll, the Chairperson is entitled to a second or a casting vote.

Day to day management is delegated to managers, with oversight by and reporting to the board of trustees. The board of trustees meets approximately every 6 - 8 weeks throughout the year.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

02277014 (England and Wales)

Registered Charity number

519937

Registered office

Crossley Mill Nursery

New Road

Hebden Bridge

West Yorkshire

HX7 8AD

Trustees

Mr A Bradley (Chairman)

Mrs R Gosden (resigned 25.9.24)

Mrs S Crossland

Mrs N Goodwin (resigned 26.3.25)

Mrs S Rymer

Mr J P Rymer

Ms E Vail

Ms A Elsom

Mrs H Jakubowski (Co-Treasurer) (appointed 31.7.24)

Independent Examiner

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

Solicitors

Bates Wells

10 Queen Street Place

London

EC4R 1BE

Bankers

Co-operative bank

BUSINESS DIRECT

P O Box 250,

Skelmerdale

England

WN8 6WT

PUBLIC BENEFIT

The trustees have referred to the guidance contained in the Charity Commissions' general guidance on public benefit when reviewing the aims and objectives of the charity and in planning future activities.

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 26th November 2025 and signed on its behalf by:

Mr A Bradley - Trustee

Independent examiner's report to the trustees of The Hebden Bridge Nursery Action Group Limited ('the Company')

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

Cresswells Accountants (UK) Limited

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

26th November 2025

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

3

Total activities

464,245

309,361

773,606

599,393

Investment income

2

1,482

-

1,482

2,123

Total

465,727

309,361

775,088

601,516

EXPENDITURE ON

Charitable activities

4

Total activities

317,424

318,112

635,536

604,456

Net gains/(losses) on investments

(2,749

)

-

(2,749

)

4,488

NET INCOME/(EXPENDITURE)

145,554

(8,751

)

136,803

1,548

RECONCILIATION OF FUNDS

Total funds brought forward

264,507

205,382

469,889

468,341

TOTAL FUNDS CARRIED FORWARD

410,061

196,631

606,692

469,889

2025

2024

Notes

£

£

FIXED ASSETS

Tangible assets

11

356,057

371,381

Investments

12

135,866

68,614

491,923

439,995

CURRENT ASSETS

Debtors

13

16,000

13,964

Cash at bank

111,507

24,595

127,507

38,559

CREDITORS

Amounts falling due within one year

14

(12,738

)

(8,665

)

NET CURRENT ASSETS

114,769

29,894

TOTAL ASSETS LESS CURRENT LIABILITIES

606,692

469,889

NET ASSETS

606,692

469,889

FUNDS

16

Unrestricted funds

410,061

264,507

Restricted funds

196,631

205,382

TOTAL FUNDS

606,692

469,889

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 26th November 2025 and were signed on its behalf by:

Mr A Bradley - Trustee

Cash flows from operating activities

Cash generated from operations

1

157,237

10,889

Net cash provided by operating activities

157,237

10,889

Cash flows from investing activities

Purchase of tangible fixed assets

(1,806

)

(125,870

)

Purchase of asset investments

(67,252

)

-

Sale of fixed asset investments

(2,749

)

19,999

Dividends received

1,482

2,123

Net cash used in investing activities

(70,325

)

(103,748

)

Change in cash and cash equivalents in the reporting period

86,912

(92,859

)

Cash and cash equivalents at the beginning of the reporting period

24,595

117,454

Cash and cash equivalents at the end of the reporting period

111,507

24,595

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)

136,803

1,548

Adjustments for:

Depreciation charges

16,610

16,311

Losses/(gain) on investments

2,749

(4,488

)

Loss on disposal of fixed assets

520

334

Dividends received

(1,482

)

(2,123

)

(Increase)/decrease in debtors

(2,036

)

1,248

Increase/(decrease) in creditors

4,073

(1,941

)

Net cash provided by operations

157,237

10,889

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank

24,595

86,912

111,507

24,595

86,912

111,507

Total

24,595

86,912

111,507

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 2015)', 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.

The financial statements are presented in Sterling which is the function currency of the company and rounded to the nearest £.

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.

All grants and contractual payments are included on a receivable basis.

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

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

Freehold property

-

Straight line over 10 years and 50 years

Fixtures and fittings

-

15% to 33% on reducing balance and 10% on cost

Taxation

The charity's activities fall within the exemptions afforded by the provisions of the Income and CorporationTaxes Act 1988. Accordingly, there is no taxation charge in these accounts.

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.

2.	INVESTMENT INCOME

2025

2024

£

£

Other fixed asset invest - FII

1,482

2,123

3.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Total

Total

activities

activities

£

£

Nursery fees

462,435

436,450

Bank interest receivable

874

263

Fundraising and donations

836

350

Government grants received

309,461

162,330

773,606

599,393

4.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 5)

note 6)

Totals

£

£

£

Total activities

440,818

194,718

635,536

5.	DIRECT COSTS OF CHARITABLE ACTIVITIES

2025

2024

£

£

Staff costs

379,497

364,221

Operational costs

10,909

9,053

Provision of daycare nursery

33,282

34,215

Depreciation

16,610

16,311

Loss on sale of assets

520

334

440,818

424,134

6.	SUPPORT COSTS

Governance

Management

Other

costs

Totals

£

£

£

£

Total activities

180,422

7,266

7,030

194,718

Support costs, included in the above, are as follows:

2025

2024

Total

Total

activities

activities

£

£

Wages

60,925

60,035

Social security

28,647

30,672

Rates and water

12,344

12,092

Insurance

21,447

22,951

Light and heat

17,948

15,436

Repairs and maintenance

33,763

21,677

Office expenses

5,348

3,571

Sundries

7,266

6,904

Bookkeeping

3,600

3,514

Accountancy fees

3,430

3,470

194,718

180,322

7.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Depreciation - owned assets

16,610

16,310

Deficit on disposal of fixed assets

520

334

8.	TRUSTEES' REMUNERATION AND BENEFITS

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

Trustees' expenses

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

9.	STAFF COSTS

2025

2024

£

£

Wages and salaries

440,422

424,256

Social security costs

28,647

30,672

469,069

454,928

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

2025

2024

Nursery and administrative staff

24

24

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

10.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Charitable activities

Total activities

440,662

158,731

599,393

Investment income

2,123

-

2,123

Total

442,785

158,731

601,516

EXPENDITURE ON

Charitable activities

Total activities

436,838

167,618

604,456

Net gains on investments

4,488

-

4,488

NET INCOME/(EXPENDITURE)

10,435

(8,887

)

1,548

RECONCILIATION OF FUNDS

Total funds brought forward

254,072

214,269

468,341

TOTAL FUNDS CARRIED FORWARD

264,507

205,382

469,889

11.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1st April 2024

660,308

65,192

725,500

Additions

-

1,806

1,806

Disposals

-

(2,073

)

(2,073

)

At 31st March 2025

660,308

64,925

725,233

DEPRECIATION

At 1st April 2024

301,487

52,632

354,119

Charge for year

12,086

4,524

16,610

Eliminated on disposal

-

(1,553

)

(1,553

)

At 31st March 2025

313,573

55,603

369,176

NET BOOK VALUE

At 31st March 2025

346,735

9,322

356,057

At 31st March 2024

358,821

12,560

371,381

12.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1st April 2024

68,614

Additions

70,001

Revaluations

(2,749

)

At 31st March 2025

135,866

NET BOOK VALUE

At 31st March 2025

135,866

At 31st March 2024

68,614

There were no investment assets outside the UK.

13.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

95

360

Prepayments

15,905

13,604

16,000

13,964

14.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

2,146

-

Social security and other taxes

5,130

2,762

Accrued expenses

5,462

5,903

12,738

8,665

15.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025

2024

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

£

£

£

£

Fixed assets

159,426

196,631

356,057

371,381

Investments

135,866

-

135,866

68,614

Current assets

127,507

-

127,507

38,559

Current liabilities

(12,738

)

-

(12,738

)

(8,665

)

410,061

196,631

606,692

469,889