OpenCharities

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2021-03-31-accounts

Total 198.078

Income/ Expenditure

----- Start of picture text -----
Income 2020
Fees and 32,096
Nursery
vouchers
Grants 185.717
receivable
Total 215.813
----- End of picture text -----

----- Start of picture text -----
Expenditur 2020
e
Staff costs 154.115
Agency 3,639
Staff
Rent 13,200
Nursery 860
supplies
Food & 1,419
Refreshme
nts
Depreciatio 1,477
n
Telephone, 6,058
stationery
& Postage
Occupancy 7,195
costs
Insurance 1,216
Payroll 3,027
Bureau
costs
Training 2,993
Miscellaneo 576
us
Subscriptio 447
ns
Governanc 1,854
e
----- End of picture text -----

.

The Under 5’s Project St. Mary’s Church Greenlaw Street Woolwich SE18 5AR Fax 02088558259 Website address www.under5sproject.org

----- Start of picture text -----
Sarah Carrr
Ella Carr
----- End of picture text -----

.

ANNUAL

~~REPORT~~

- 2020 2021

introduction

The Under 5’s project is based in St. Marys Church

The Objective of the charity is to protect and preserve the physical and mental health of children and their parents in Greenwich by the provision for children 18 months to 5 years. We are hoping to relieve stresses of families by virtue of their social and economic need.

We are situated in St. Mary’s Ward which is one of the most deprived wards in Greenwich.

The project runs 2 rooms five days a week.

Daisies 8 o clock to 6 o clock for 3-4year-olds. Buttercups 8 o clock to 6 0 clock for 2 – 3- year-olds

.

We are an Ofsted registered OUTSTANDING SETTING since 2010.

Most of the children who attend the project are referred by outside agencies or the together for two’s programme.

This could be because of the need of the child, parent, or family.

We work closely with other agencies to provide additional services and support to meet children’s individual needs and improve their life chances.

We work within our community offering training Placements and work experience from schools and local collages. We also offer advice and guidance.

Management report

The Project relies on Government funding and private fees to operate. Because of the Covid restrictions, we were only open for Key children at first so even though the project was still receiving government funding we did lose all our private fees. We also lost our Breakfast club and Afterschool club for part of the year. The furlough system helped the staff to continue to stay open for Key Worker children. This year we have a lot of children with additional learning and medical needs. To obtain funding for the children, the procedure can take up to 3 to 6 months which means the project had to fund 1-1 staff members from our reserves. Funding cannot be backdated.

It’s been a tough year for the Charity, but we have managed to keep going.

A member of our staff was suspended in December for Gross Misconduct. This matter is ongoing. LADO and Ofsted have been informed an investigation was concluded.

Unfortunately, due to Covid our Chairperson resigned because all of her family caught Covid and work pressures. This was on the 31.01.2021

This year we are not holding a Christmas Pantomime due to restrictions, but we will be giving present to the children. Good Luck to my successor Kelly Wishart Chairperson.

Managers’ report

I partially returned from maternity leave to my position inIt has been a tough year financially but a great year for all the children and families we helped. Numbers were continuing to go up until lockdown. We stayed open for Key workers Children but 5 of our staff were furloughed including myself. The Nursery went down to 8 children.

One of the things I have most enjoyed this year is working in close partnership with parents/carers. This is an area I want to grow after my maternity leave.

This year I will be going on Maternity leave in July and I am happy to say that

Jemma and Ella will be Co-Managers for the new year.

Going forward I would like to extend the nursery with a baby room. We are now talking to the church to see if this will happen.

I would like to also Thank my wonderful staff for their continued hard work and support.

Well Done. Sarah Carr Manager

UNDER FIVES PROJECT REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

Registered Charity No. 1026486

Azets Limited Accountants Greytown House 221/227 High Street Orpington Kent BR6 0NZ

UNDER FIVES PROJECT

CONTENTS

Page
Charity Information 1
Report of the Management Committee 2
Independent Examiner’s Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7

UNDER FIVES PROJECT

REFERENCE AND ADMINISTRATIVE DETAILS

Trustees Edel Redmond
Kelly Wishart
Jennifer Wolfe
Management Committee Kelly Wishart (Chair)
Edel Redmond (Treasurer)
Jesmilla Sanoon
Chloe Cameron
Charlie May
Emma Cameron
Charity Registration Number 1026486
Principal Office St. Mary’s Church
Greenlaw Street
London
SE18 5AR
Independent Examiner C. Cooper FCCA
Azets Limited
Greytown House
221 – 227 High Street
Orpington
Kent BR6 0NZ
Banker Santander
Bootle
Merseyside
GIR 0AA

1

UNDER FIVES PROJECT

REPORT OF THE MANAGEMENT COMMITTEE

The Management Committee present their report and financial statements for the year ended 31 March 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and 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 published on 16 July 2014.

OBJECTIVES

The objectives of the charity are:

To protect and preserve the physical and mental health of children and their parents in the London Borough of Greenwich by the provision of an outstanding Ofsted nursery and daycare provision for children 2-5 years who are in need and thereby relieving the stress of their parents who are similarly in need by virtue of their social or economic circumstances.

REVIEW OF THE YEAR

The project continues to work closely with the local community. We are continuing to work with local collages and continue to be a provider for local school work experience.

The project relies on statutory funding for most of its core funding. Breakfast club and afterschool creates a small amount of extra income.

The charity opening times are now 8 o clock to 6 o clock this includes a breakfast club and Afterschool club.

In March 2020 this year the world was shaken by Covid 19. This affected the project as income was significantly reduced. We have used support as provided by the government including the furlough scheme.

STATEMENT ON PUBLIC BENEFIT

The objectives and activities, and achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity.

FINANCIAL REVIEW

Total income for the year was £180,352 (2019: £191,205). Total expenditure for the year was £196,723 (2019: £206,230). This resulted in a deficit for the year of £16,371 (2019: £15,025 deficit).

The funds at 31 March 2020 were £9,058 (2019: £25,429), of which none (2019: £nil) are restricted.

RESERVES POLICY

The balance of unrestricted funds at year end was £9,058 (2019: £25,429). The Trustees’ policy on reserves is to have a minimum of two months cover of budgeted operating costs approximately £33,000 (2019: £20,000).

The current level of reserves is below the Trustee’s policy, but due to the current climate, and trying to build back up the charity with no grants it has been a very difficult year. A lot of the grants have been very specific over the year and although the project has been trying to get grants, it has just not happened. We have taken on an apprentice which hopefully will cut our staffing costs, and are buying only essential goods.

2

UNDER FIVES PROJECT

REPORT OF THE MANAGEMENT COMMITTEE

GOING CONCERN

The organisation is in the process of carrying out a review of all of its incoming streams and project costs.

We have had a number of children with additional needs over the last year, it can take up to 6 to 9 months to obtain funding for the children and it is not backdated. Hopefully moving forward funding will became available to help with staff costs. Because we are a Nursery a lot of grants will not fund the project. They say its because we are get statutory funding which is not enough to cover our costs. The breakfast club and Afterschool club are increasing so this should increase our revenue.

The times that we are in are very challenging, but we are a long standing charity that is looking to move forward and upwards.

On the basis the Trustees consider the going concern basis for the preparation of the accounts to be appropriate.

RISK MANAGEMENT

The trustees have reviewed the major and financial risks that impact on the work of the charity. They systems that have been established enable the trustees to review and take necessary steps to lessen these risks. The trustees consider the following to be the principal risks that the charity faces:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Constitution

The Charity is an unincorporated entity, governed by a Constitution dated April 1990 and amended on 16 September 1993 and 17 April 2008. It is a registered charity, number 1026486. Trustees

The following have served as Trustees during the year to date:

Edel Redmond Kelly Wishart Jennifer Wolfe

Management Committee

The following have served on the Management Committee during the year to date:

Jennifer Wolfe (resigned 1 February 2020) Kelly Wishart (Chair) Edel Redmond (Treasurer) Jesmilla Sanoon Charlie May Chloe Cameron Emma Cameron

The Management Committee shall consist of at least 6 members and not more than 12 members. The Management Committee shall be elected at the Annual General Meeting each year. The Management Committee shall meet at least 3 times a year.

3

UNDER FIVES PROJECT

REPORT OF THE MANAGEMENT COMMITTEE

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities

Approved by the Trustees and signed on their behalf:

………………………………………….. Kelly Wishart Management Committee Date

……………………………………..

4

UNDER FIVES PROJECT

INDEPENDENT EXAMINER’S REPORT TO THE MANAGEMENT COMMITTEE

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 March 2020 which are set out on pages 5 to11.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.

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.

C. Cooper (FCCA)

For and on behalf of Azets Limited Accountants Greytown House, 221/227 High Street Orpington, Kent, BR6 0NZ

Date:

5

UNDER FIVES PROJECT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2020

Notes
Income from:
Charitable activities:
Fees and nursery vouchers
Grants receivable
2
Total income
Expenditure on:
Charitable activities:
Provision of nursery care
4
Total expenditure
Net income
Reconciliation of funds:
Total fundsbrought forward
Total funds carried forward		 Unrestricted
Funds
£
32,409
147,943
_
180,352
_
196,723
_
196,723
_
(16,371)
25,429
____
9,058
 Total
2020
£
32,409
147,943
_
180,352
_
196,723
_
196,723
_
(16,371)
25,429
____
9,058
 Unrestricted
Total
2019
£
40,140
151,065
_
191,205
_
206,230
_
206,230
_
(15,025)
40,454
____
25,429

All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities.

6

UNDER FIVES PROJECT

BALANCE SHEET AS AT 31 MARCH 2020

Notes
Fixed assets
Tangible fixed assets
6
Current assets
Cash at bank and in hand
Creditors:Amounts falling
due within one year
7
Net Current assets
Net assets
FUNDS
Unrestricted Funds		 _

 2020
£
1,477
10,467
__
10,467
(2,886)
___
7,581
_____
9,058
__
9,058
_
9,058
____		 _

 2019
£
3,784
23,966
__
23,966
(2,321)
___
21,645
_____
25,429
__
25,429
_
25,429
____
_ _

The financial statements were approved on ……………………….. and signed on behalf of the Board by:

…………………………………….. ……………………………….. Kelly Wishart Edel Redmond Management Committee Management Committee

………………………………..

7

UNDER FIVES PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

1. ACCOUNTING POLICIES

1.1 Basis of preparation

Under Fives Project is a unincorporated charity in the United Kingdom, governed by a constitution data April 1990 and amended on 16 September 1993 and 17 April 2011. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed on page 2.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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) issued on 16 July 2014, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015. Updated by Bulletin 1 & 2.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Income

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

The charity receives government grants in respect of nursery fees. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

1.3 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following heading:

1.4 Funds

8

UNDER FIVES PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

1.5 Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to expenditure on charitable activities on a basis consistent with use of the resources.

1.6 Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Computers and equipment - 25% straight line

1.7 Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.8 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.9 Corporation Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

1.10 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist even after taking Covid into consideration. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient, after taking into consideration the change in staff and using apprentices to save money and cost reductions, with the level of reserves for the charity to be able to continue as a going concern.

1.11 Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:

9

UNDER FIVES PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

1.11 Judgements and key sources of estimation uncertainty (continued)

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of the tangible fixed assets, and note 1.6 for the useful economic lives for each class of assets.

Bad debts

Debtors are regularly reviewed for recoverability, any debts which in the opinion of management are not recoverable are provided for as a specific bad debt.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

2. INCOME FROM CHARITABLE ACTIVITIES

3.

INCOME FROM CHARITABLE ACTIVITIES
London Borough of Greenwich
Other Grants
STAFF COSTS AND TRUSTEE’ REMUNERATION
Wages and salaries
Social Security costs
Temporary Wages
Recruitment		 2020
£
147,443
500
_
147,943
__
2020
£
133,240
7,991
-
107
____
141,338
 2019
£
151,065
-
____
151,065
__
2019
£
137,459
9,256
3,012
161
_
149,888

The average number of employees (including casual and part time staff) during the financial year was 8 (2019: 8)

There were no employees earning more than £60,000 during the year (2019: none).

None of the Trustees received any remuneration or reimbursed expenses during the year (2019: none).

10

UNDER FIVES PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

4. CHARITABLE EXPENDITURE

Staff Costs
Agency Staff
Rent
Nursery supplies
Food & refreshments
Depreciation
Telephone, stationery & postage
Occupancy costs
Insurance
Payroll bureau
Training
Miscellaneous
Governance
5. GOVERNANCE COSTS
Independent examination
6.
TANGIBLE FIXED ASSETS
Cost
As at 1 April 2019
Additions
As at 31 March 2020
Depreciation
As at 1 April 2019
Charge for year
As at 31 March 2020
Net Book Values
At 31 March 2020
At 31 March 2019		 2020
2019
£
£
141,338
10,389
149,888
11,246
13,722
12,706
2,890
2,122
2,475
2,202
2,307
2,773
5,434
5,319
11,714
13,514
641
641
2,183
1,755
500
961
1,348
1,018
1,782
2,085
_
_
196,723
206,230
_
_
2020
2019
£
£
1,782
2,085
_
_
1,782
2,085
_
_
Computers
and
Equipment
£
35,795
-
_
35,795
_
32,011
2,307
_
34,318
_
1,477
____
3,784

11

UNDER FIVES PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

7.
CREDITORS:Amounts falling due
due within one year
Social security and other taxes
Accruals
Other Creditors		 2020
£
2,441
445
___
2,886
 2019
£
-
2,100
221
___
2,321

8. RELATED PARTY TRANSACTIONS

There were no related party transactions during the year (2019: None).

12

Total 198.078

Income/ Expenditure

----- Start of picture text -----
Income 2020
Fees and 32,096
Nursery
vouchers
Grants 185.717
receivable
Total 215.813
----- End of picture text -----

----- Start of picture text -----
Expenditur 2020
e
Staff costs 154.115
Agency 3,639
Staff
Rent 13,200
Nursery 860
supplies
Food & 1,419
Refreshme
nts
Depreciatio 1,477
n
Telephone, 6,058
stationery
& Postage
Occupancy 7,195
costs
Insurance 1,216
Payroll 3,027
Bureau
costs
Training 2,993
Miscellaneo 576
us
Subscriptio 447
ns
Governanc 1,854
e
----- End of picture text -----

.

The Under 5’s Project St. Mary’s Church Greenlaw Street Woolwich SE18 5AR Fax 02088558259 Website address www.under5sproject.org

----- Start of picture text -----
Sarah Carrr
Ella Carr
----- End of picture text -----

.

ANNUAL

~~REPORT~~

- 2020 2021

introduction

The Under 5’s project is based in St. Marys Church

The Objective of the charity is to protect and preserve the physical and mental health of children and their parents in Greenwich by the provision for children 18 months to 5 years. We are hoping to relieve stresses of families by virtue of their social and economic need.

We are situated in St. Mary’s Ward which is one of the most deprived wards in Greenwich.

The project runs 2 rooms five days a week.

Daisies 8 o clock to 6 o clock for 3-4year-olds. Buttercups 8 o clock to 6 0 clock for 2 – 3- year-olds

.

We are an Ofsted registered OUTSTANDING SETTING since 2010.

Most of the children who attend the project are referred by outside agencies or the together for two’s programme.

This could be because of the need of the child, parent, or family.

We work closely with other agencies to provide additional services and support to meet children’s individual needs and improve their life chances.

We work within our community offering training Placements and work experience from schools and local collages. We also offer advice and guidance.

Management report

The Project relies on Government funding and private fees to operate. Because of the Covid restrictions, we were only open for Key children at first so even though the project was still receiving government funding we did lose all our private fees. We also lost our Breakfast club and Afterschool club for part of the year. The furlough system helped the staff to continue to stay open for Key Worker children. This year we have a lot of children with additional learning and medical needs. To obtain funding for the children, the procedure can take up to 3 to 6 months which means the project had to fund 1-1 staff members from our reserves. Funding cannot be backdated.

It’s been a tough year for the Charity, but we have managed to keep going.

A member of our staff was suspended in December for Gross Misconduct. This matter is ongoing. LADO and Ofsted have been informed an investigation was concluded.

Unfortunately, due to Covid our Chairperson resigned because all of her family caught Covid and work pressures. This was on the 31.01.2021

This year we are not holding a Christmas Pantomime due to restrictions, but we will be giving present to the children. Good Luck to my successor Kelly Wishart Chairperson.

Managers’ report

I partially returned from maternity leave to my position inIt has been a tough year financially but a great year for all the children and families we helped. Numbers were continuing to go up until lockdown. We stayed open for Key workers Children but 5 of our staff were furloughed including myself. The Nursery went down to 8 children.

One of the things I have most enjoyed this year is working in close partnership with parents/carers. This is an area I want to grow after my maternity leave.

This year I will be going on Maternity leave in July and I am happy to say that

Jemma and Ella will be Co-Managers for the new year.

Going forward I would like to extend the nursery with a baby room. We are now talking to the church to see if this will happen.

I would like to also Thank my wonderful staff for their continued hard work and support.

Well Done. Sarah Carr Manager