REGISTERED COMPANY NUMBER: 03363684 (England and Wales)

REGISTERED CHARITY NUMBER: 1064202

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Keighley Community Nursery Ltd.

Page

Report of the Trustees

1

to

3

Independent Examiner's Report

4

Statement of Financial Activities

5

Statement of Financial Position

6

to

7

Statement of Cash Flows

8

Notes to the Statement of Cash Flows

9

Notes to the Financial Statements

10

to

16

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 main objectives of Keighley Community Nursery Limited is to provide childcare for families in the Keighley and surrounding area.

The main activities of Keighley Community Nursery are nursery day-care for children aged 0 to 5 years, before and after school care for children aged 3 to 11 and holiday club day care for children in the Reception year of Primary school.

The Trustees have considered the guidance in Section 4 of the 2006 Charities Act and consider that the activities of the charitable company are for the Public Benefit as they are open to families from all backgrounds.

Public benefit

The charity's public benefit is providing facilities for the daily care, recreation and education of children who are below compulsory school age or who are of compulsory school age during out of school hours and holidays to children in Keighley and the surrounding areas.

The charity has regarded the Charity Commission's guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The nursery had accumulated reserves of £214,467 as at 31 March 2025. During the year to 31 March 2025 there was a surplus of £41,938 (2024: a surplus of £21,870).

The surplus arose primarily due improved grants received during the year to 31st March 2025.

The nursery remains sustainable with a substantial waiting list, remarkably few complaints received over the last 12 months and a robust continuous professional development program for staff is in place and ongoing.

FINANCIAL REVIEW

Investment policy and objectives

There are insufficient free reserves for long-term investment. The Trustees are satisfied that the gross interest applicable to the business account with the National Westminster Bank is satisfactory.

Reserves policy

The Trustees feel that it is reasonable to try and maintain unrestricted reserves equivalent to 4 months of expenditure which in 2025 was £216,007 (2024: £171,700). These are held to protect the organisation against the uncertainties of both trading and funding. At the year end reserves were £214,467 (2024: £172,529), which satisfies the Trustees' target.

FUTURE PLANS

The nursery aims to maintain minimum cash reserves of at least £150,000, with the intention that any surplus above this level is spent on further improving the quality of care provided as well as maintenance and improvements to the nursery building.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Recruitment and appointment of new trustees

The Memorandum and Articles of Association require the Trustees to be re-elected at the next Annual General Meeting.

To retain the original ethos of the organisation, the trustees will endeavour to ensure that new members are recruited primarily from service users, particularly the parents, as well as ensuring that relevant skills are represented e.g. business, finance, childcare, human resources.

Organisational structure

Keighley Community Nursery Limited Board of Trustees must consist, accordingly to the Articles of Association at least 3 members with no maximum number. The Management Committee meets 5 to 6 times per year.

Induction and training of new trustees

Following election new Trustees will be provided with the relevant information regarding the history, structure and governance of the Company as well as the financial position and strategic priorities.

In addition, new Trustees will be referred to relevant training courses for Committee Members that are available through the Joint Training Board.

Related parties

Keighley Community Nursery's service delivery is consistent with the aims of the National Childcare Strategy and the Every Child Matters agenda.

Keighley Community Nursery has strong links with Bradford Early Years and Childcare Service, Sure Start Keighley, as well as with Local Schools, Colleges, Social Services and other professional agencies.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03363684 (England and Wales)

Registered Charity number

1064202

Registered office

Braithwaite Grove

Keighley

West Yorkshire

BD22 6JB

Trustees

L Powell

M Hall

S L Greenwood - chair

R A Balson

E L Garnett

N Dent

Miss B Tomlin (appointed 20.1.25)

Independent Examiner

Richard J Hudson FCA

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

Bank

National Westminster Bank Plc

63 North Street

Keighley

West Yorkshire

Approved by order of the board of trustees on 21 November 2025 and signed on its behalf by:

S L Greenwood - Trustee

Independent examiner's report to the trustees of Keighley Community Nursery Ltd. ('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.

Richard J Hudson FCA

Stirk Lambert & Co

Chartered Accountants

Russell Chambers

61a North Street

Keighley

West Yorkshire

BD21 3DS

21 November 2025

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

2,465

-

2,465

1,570

Charitable activities

4

Charitable activities

447,102

1,182

448,284

251,236

Nursery Fees

238,473

-

238,473

283,359

Other trading activities

3

736

-

736

805

Total

688,776

1,182

689,958

536,970

EXPENDITURE ON

Raising funds

5

150

-

150

260

Charitable activities

6

Charitable activities

1,578

-

1,578

513,593

Nursery Fees

645,106

1,186

646,292

-

Other

-

-

-

1,247

Total

646,834

1,186

648,020

515,100

NET INCOME/(EXPENDITURE)

41,942

(4

)

41,938

21,870

RECONCILIATION OF FUNDS

Total funds brought forward

172,508

21

172,529

150,659

TOTAL FUNDS CARRIED FORWARD

214,450

17

214,467

172,529

31.3.25

31.3.24

Unrestricted

Restricted

Total

Total

fund

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

13

8,667

17

8,684

6,233

CURRENT ASSETS

Debtors

14

16,016

-

16,016

19,196

Cash at bank and in hand

203,352

-

203,352

159,336

219,368

-

219,368

178,532

CREDITORS

Amounts falling due within one year

15

(13,585

)

-

(13,585

)

(12,236

)

NET CURRENT ASSETS

205,783

-

205,783

166,296

TOTAL ASSETS LESS CURRENT LIABILITIES

214,450

17

214,467

172,529

NET ASSETS

214,450

17

214,467

172,529

FUNDS

16

Unrestricted funds

214,450

172,508

Restricted funds

17

21

TOTAL FUNDS

214,467

172,529

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 November 2025 and were signed on its behalf by:

S L Greenwood - Trustee

Cash flows from operating activities

Cash generated from operations

1

49,962

27,268

Finance costs paid

(1,102

)

(981

)

Net cash provided by operating activities

48,860

26,287

Cash flows from investing activities

Purchase of tangible fixed assets

(4,844

)

(998

)

Net cash used in investing activities

(4,844

)

(998

)

Change in cash and cash equivalents in the reporting period

44,016

25,289

Cash and cash equivalents at the beginning of the reporting period

159,336

134,047

Cash and cash equivalents at the end of the reporting period

203,352

159,336

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

31.3.25

31.3.24

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

41,938

21,870

Adjustments for:

Depreciation charges

2,393

1,488

Finance costs

1,102

981

Decrease/(increase) in debtors

3,180

(3,899

)

Increase in creditors

1,349

6,828

Net cash provided by operations

49,962

27,268

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

159,336

44,016

203,352

159,336

44,016

203,352

Total

159,336

44,016

203,352

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.

Income

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

Expenditure

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

Tangible fixed assets

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

Improvements to property

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Toys are written off in full in the year of purchase as their useful life is typically less than one year.

Taxation

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

Fund accounting

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

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

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

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.

2.	DONATIONS AND LEGACIES

31.3.25

31.3.24

£

£

Donations and other income

2,465

1,570

3.	OTHER TRADING ACTIVITIES

31.3.25

31.3.24

£

£

Fundraising

736

805

4.	INCOME FROM CHARITABLE ACTIVITIES

31.3.25

31.3.24

Activity

£

£

Grants

Charitable activities

448,284

251,236

Fees

Nursery Fees

238,473

283,359

686,757

534,595

Grants received, included in the above, are as follows:

31.3.25

31.3.24

£

£

Bradford Council NEF

447,220

250,238

Milk Grant

1,064

998

448,284

251,236

5.	RAISING FUNDS

Raising donations and legacies

31.3.25

31.3.24

£

£

Fundraising costs

150

260

6.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 7)

note 8)

Totals

£

£

£

Charitable activities

1,578

-

1,578

Nursery Fees

622,594

23,698

646,292

624,172

23,698

647,870

7.	DIRECT COSTS OF CHARITABLE ACTIVITIES

31.3.25

31.3.24

£

£

Staff costs

569,804

456,964

Nursery supplies and food

28,536

23,313

Repair and refurbishment

8,771

5,184

Sundries

5,901

4,038

Cleaning costs

3,041

3,311

Telephone, stationery and office

4,140

3,908

Bad debts

1,586

855

Depreciation

2,393

1,488

624,172

499,061

8.	SUPPORT COSTS

Governance

Other

costs

Totals

£

£

£

Nursery Fees

16,834

6,864

23,698

9.	NET INCOME/(EXPENDITURE)

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

31.3.25

31.3.24

£

£

Depreciation - owned assets

2,393

1,488

10.	TRUSTEES' REMUNERATION AND BENEFITS

During the year one of the charities trustees was remunerated through their employment as a member of key personnel and management.

Trustees' expenses

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

11.	STAFF COSTS

31.3.25

31.3.24

£

£

Wages and salaries

534,303

432,918

Social security costs

27,392

18,332

Other pension costs

8,109

5,714

569,804

456,964

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

31.3.25

31.3.24

Nursery staff

29

29

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

12.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

1,570

-

1,570

Charitable activities

Charitable activities

250,104

1,132

251,236

Nursery Fees

283,359

-

283,359

Other trading activities

805

-

805

Total

535,838

1,132

536,970

EXPENDITURE ON

Raising funds

260

-

260

Charitable activities

Charitable activities

512,457

1,136

513,593

Other

1,247

-

1,247

Total

513,964

1,136

515,100

NET INCOME/(EXPENDITURE)

21,874

(4

)

21,870

RECONCILIATION OF FUNDS

Total funds brought forward

150,634

25

150,659

TOTAL FUNDS CARRIED FORWARD

172,508

21

172,529

13.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

property

fittings

Totals

£

£

£

COST

At 1 April 2024

11,621

52,095

63,716

Additions

-

4,844

4,844

At 31 March 2025

11,621

56,939

68,560

DEPRECIATION

At 1 April 2024

7,895

49,588

57,483

Charge for year

559

1,834

2,393

At 31 March 2025

8,454

51,422

59,876

NET BOOK VALUE

At 31 March 2025

3,167

5,517

8,684

At 31 March 2024

3,726

2,507

6,233

14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

14,890

17,864

Prepayments & accrued income

1,126

1,332

16,016

19,196

15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

3,534

4,563

Social security and other taxes

7,941

5,753

Accrued expenses

2,110

1,920

13,585

12,236

16.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

£

£

Unrestricted funds

General fund

172,508

41,942

214,450

Restricted funds

OFSTED fund

21

(4

)

17

TOTAL FUNDS

172,529

41,938

214,467

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

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

688,776

(646,834

)

41,942

Restricted funds

OFSTED fund

-

(4

)

(4

)

Milk Grant

1,182

(1,182

)

-

1,182

(1,186

)

(4

)

TOTAL FUNDS

689,958

(648,020

)

41,938