UNDER FIVES PROJECT
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Reglstered Charlty No. 1026486
Azets Audrt Services Limited
Ac¢ountants
First Floor
River house
l Maidstone Road
Sidcup
DA14 SRH

UNDER FNES PROJECT
CONTENTS
Pago
Ghafity Infoffnatson
Report of th8 Management Commrtiee
Independent Examinerfs Report
St818ment of Financial Activi￿85
Balance She8t
10
St818ment of Cash Flows
11
Not68 to the Financi81 St81ements
12

UNDER FIVES PROJECT
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Edel Redmond
Jenny Thompson
Helen Ca
Sarah Carr
Management Committee
Jenny T￿MpSon (Chair)
Edel Redmond (freasurer)
Ella Caff
Charity R¢9i5tration Number
1026486
Princlpal Office
SL Mary's Church
Greenlaw Street
London
SE18 SAR
Independent Examiner
S. Holmes (FCA)
Azets Audit ServI￿s Limited
Accountsnls
First Floor
River house
1 Maidstone Road
Sia¢up
DA14 5RH
Banker
Santander
Booue
Merseyside
GIR OAA

UNDER FIVES PROJECT
REPORT OF THE MANAGEMENT COMMtrrEE
The Manag8ment Committee present their report and finanual statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounts.ng policies set out in note 1 to the
accounts and comply wth tha charity's trust deed, the Charitie5 Act 2011 and Accounting and Reporknng by
Charities.. Statement of Recommended Practice applicable to charities preparÉng their accounts in accordance
wlth thè Financial Reporting Stsndard applicable in the UK and Republic of Ireland published on 16 July 2014.
OBJECTIVES
The objectives of the ¢haTity are..
To protect and preserve the physlcal and mentsl health of children arKI their p8r8nls in Ihe London Borough of
Greenwich by the provision of an Inclusive Ofsted registered nursery and daycare provision for children 8 months
5 years who are in need and Ihereby rel￿vIng the stress of their parents who are similarly in need by vlrtue of
th8ir social or economic circumstances.
During the year the charlly conlinu8d lo w(Kk towards its charitable objeclives of supporting children and f8milies
through the provision of safe, engaging and inclusive childcare servlces and activities.
The charlty 8ucc8s$fully deliverèd over 120 childcare placemenls 8nd community activities which provid8d
children with opportunitl8s for play, leaming and soci81 interaction. F8edbaGk from families and partner
organl$ations has been positive, demon51rating that the charity is meeting a clear need within the community.
W8 conb'nue to have families signposted by locel health visitors and extemal agencies which demonstratss a
strong need for our provision.
A key focus of the charity's worf< has been ensuring that children of all abilitses are able to access a nurturlng
anvironmenl that supports their individual d8velopment. The settln9 continue¥ to provide in¢lusive opportunities
for childr8n with additlonal need8, Including tha use of a dedicated sensory space deslgned to support children
who benefit from calm. sensory-based learning environments. Work has begun to further expand and improve this
sensory provision so that more children can benefit from il.
Th8 charity has also continued to play an actlve role wlthin the local community by supporting sludents and young
P80ple through short work placements and observational sessions. These opportunities are provided to sludenl$
from local coll6ges. schools and altemative education provisions. including young people who may struggle wlthin
m8inslream education settings. These placements help students galn valuable experience and confidence within
8 SUPPOrtive envifonm8nt
Another important priorlty durfng the year has bean staff wellbeing and professlonal development. The charity
recognis6s that a well-supported and highly skilled tearn is essents.al lo delivering highquality ¢ar8 for children. As
part of this commitment, the organlsation has placed a strong emphasis on promoting Staff wellbeing and creating
positive and supportive working environment.
The charity has also actively supported a number of staff member5 in WOTking towards their Level 3 early years
qu81ificalions. And we has suc¢essfully trained 3 apprentices from local Coll￿8$ to gain qualificalions in the field.
The management committee believes Ulat these activities demonstrate the ch8rity'$ ongoing commitrnent to
delivering meaningful benefit to the children. families and ￿der community11 supports

REVIEW OF THE YEAR
We have had an extremely lyjsy yearfull of exiibng changes and the expansion to our second site.
Our new second site is larger than St Ma￿S nursery and means for thg first time ever we have been able to
expand our provision to babies.
We have managed to extsnd a very run4own building into a wonderful nurturing environrnent for our clièntele.
The new site is large and holds lots of possibilty for future developments.
This year we have been ￿ntinUIng to lean into being an indusive and nature lead nursery, this has meant
working wth natural materials and ￿$Our￿ and making the most of the new large outside space we have
acquired.
We continue to pride oursdves on being an ir￿luSive settrng and have worked hard to incorporats this into our
new site, we have seen a large increase in the number of SEND thildren accessin9 our provtslon and we have
been re-structuring our speaalist team to incorporats the rise in access. We have been able lo re-develop and
open an onsite sensory room and inteTvention space named the burrow
The team have worked incredibly h8rd thrc44h the many changes and ￿-structures we have had and Continue to
have.
They should all be incredibty proud of what we have achieved together.
STATEMENT ON PUBLIC BEI4EFrr
The objectives and actiVFtFes, and athievement and performano sections of thls pport clearly set out lh•
aclÈvities which the charity undertakes for the public benefft. The trustses ￿nfirn that they have complied with the
duty in section 4 of the Charities Act 2006 to have due regard to public benefft guidance published by the
Commission in determining the activities undertaken by the charity.
FINANCIAL REVIEW
Total income for the year was £863,16812024.. £648.545). Totsi expenditure for the year was £781,680 (2024:
£603,424). This resulted in a surplus for the year of £81,488 (2024. surplus of £45.121).
The funds at 31 March 2025 We￿ £85,507 in surplus (2024: £4,019 in surplus). of whith none (2024: £nil) a
restricted.
RESERVES POLICY
The balance of unrestricted funds al year end was £85.507 in surpfus (2024: £4,019 in SUTplus). The Trustees,
policy on reseNes is to have a minimum of two mcmlhs cover of budgeted operating costs approxirnalely £80,000
(2024: £80,000).
The current level of ￿Se￿o$ is below the Trustee's policy. but due to the current ctimale, and the second sile
opening we have unfortunatety not been able to build the reserves back up, we are hoping this is something we
can start to prioritisa in the coming years.

UNDER FIVES PROJECT
REPORT OF THE MANAGEMENT COMMrrrEE
GOING CONCERN
The organisation is in the process of carrying out a review of all of its incoming slreams and prO1￿t cosls.
We have had 8 year full of charge and rapid growth, this has inevitsbly meant Ihat investment had to happen for
the project to take placè, we are now looking to Ihe future year to regain financial stsbllity-
The times that we are in are very challenging, and there is a national crisis of undèrfunding in earfy years, we are
hoping the fijture brtngs posltive changes to government pollcy at Ihe very heart of how earty years in valued.
We continue to remain positive and hope that thè second site will offer us more security and financial safaty than
we have had previously. we are a long-standing charity that is looking to move forward and upwards.
On the basls the Trustees consider Ihe going concern basis for the preparation of the accounts to be appropriate.
RISK MANAGEMENT
The trustees have revi8wed Ihe malor and financlal risks that impact on the work of th8 charty. They systems
that have been establlshed enable the trustees to review and take necessary 8teps to lessen these flsks. The
trustees consider the following to be the principal risks that Ihe charity faces..
Loss of income from the London Borough of Greenwich
risk mitigated by 8ffectiv8 monitorlng of
flnances and 8Ctively seeking 8llematNe forms of funding.
Children's Safety
risk miligated by ensunng all current hgalth and safety requirements are met or
excee¢ed.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constitution
The Ch8rfty is 8n unincorporated entty, govemed by a constitution daled April 1990 and amended on 16
September 1993 ond 17 April 2008. It is a registered charity, number 1026486.
Trusté•#
The following have served as Truste86 dudng the year lo dote..
Edel Redmond
Jenny Thompson
Helen Ca
Sarah Ca
Management Commlttee
The followlng have seNed on the Management Committee during the year to dale..
Jenny Thompson (Chair)
Edel Redmond {Trèasurerl
Ella Carr
The Management Committee shall consist of at least 6 members and rlot more than 12 members. The
Management Committee 5h811 be elecfrd at the Annual General Meeting each yèar. The Management Committee
shall meet at16ast 3 times a year.

Volunteer contributions
The chaiity does not rely on regular volunteers to deliver its Servi￿$. However, the organisation regularty
supports students 8nd young people from lo￿1 colleges. sthoois and aliemative education provisions who
undertake work placements within the seth'ng.
These placements provide students with valuable experien￿ of working children and early years
environments.
The Gharity also supports youn9 peopl& who are unable to access mainstream edu¢xtion by offering shorL
supervised sessions to help develop confidence, social sktlls and an understanding of Workpla￿ environments.
While these placements are primarily educational, they contribute p0S￿Ve1Y to the sett(ng and reflect the charity's
commitment to supporting the wider cx)mmunty and providing leaming opportunities for young people.
Plans for the future
Looking ahead, the charity plans to continue developing its facilities and expanding the support it provrdes to
chlldren. families and staff. At the St Ma￿$ site. the chartty intends to improve the outdoor leaming environment
through the installation of inclusive play equipment designed to support thildren of all abiliti&s. In addition, plans
are in place to enhance outdoor provision through the creation of two permanent wooden 'potion kitchens. and
the installation of structured wooden gazebos within Ihe garden afea. These developments will provide addrtional
opportunities for crealive, sensory and outdoor leaming experiences.
Al the Woolw¢h Common site, approval has been granted for Ihe construction of an extemal building in the fonn
of a summer house. This space wll provide a dedicated area for meetings With parents and carers, as well as a
space for staff use and management discussions. The charity currenuy has limited indoor space for these
purposes, and the additional building will help improve both stsff wellbeing and communication with families.
The charity will also continue lo develop and enhan￿ its sensory room provision so that more children.
particularly those with additional needs, benefit from a calm and supportive sensory envFronmenL
In the longer tem. the charity hopes to introduce a SEND parent drop4n group. These sessions will alm to
provide a supportive space there parents and ¢arers can acctss infonnatlon. share experiences and connect
with others wlthin the community
Fundraising dlsclo$ure
During the year the charity undertook limited fvndraising activities. The organisation applied for a number of grant
funding opportunities and was successfijl in securing onè grant to support frJture expansion plans. At the time of
r8PQrting, final confimats'on and authorisation for this fvnding is still in progress.
The charity also carried out small-scale intemal fundraising adivities for families wr(hin the setiing. Thls included
organising seasonal photo sessiork%, such as Easter and Christmas themed photogrdphs, which were offered to
parents and carers at a low cost. These artivtties were designed to be a¢¢essible for families while also raising
modest funds for additional experiences for Ihe children.
Funds ratsed through these activrties were used to provide enrichment opportunrties for all tha children. induding
special activity days such as a visiting animal experience and a Christmas ￿lebration event.
The charity ensures that all fvndraising activities are carried out in a transparent and ethic81 manner and are
approprlate to the size and nature of the organisation.
Detalls of method of re¢ruitment and appolntnwnt of trustees
Trustees are recruited through the charivs management committee structure in a¢¢ordance with the goveming
documenL When vacancies arise, the charity seeks to recnjit new trustees from within the lo(￿1 communty and
frtsm parents and carers connected to the setttThJ.
OpportunFties to join the management committee are communicated to parents and carers Ihrough letters and
internal communications explaining the role and responsibilities of trustees. The charFty aims lo en￿urage
individuals with an Interest in supporting children and families within Ihe communty to become involved in the
govemancÈ of the organisaton.
New trustees are fomially appoirrted by the existing management cfjmmittee in line with ihe charitys goveming
document. Where 2ppropriate. trustees are offered access to relevant training and guidance to help them
understand their responsibilities and contribute effectively to the management of the chartty.
While inte￿t in trustee roles can sometimes be limited due to the time commilments involved for working
families, U)6 chaiity continues to promote these opportunities and weScornes new membeTr who wsh to support
its work.

Details of organisatlonal structure
The overall govemance and strateglc direction of the chaiity is the responsibility of the management commlttee
(truslees}, who meet periodically to review the charity's activities. finan￿S and future planning.
Due to the fast-P8ced nature of the nursery environment, day-to-day operational decisions are dekgated trj the
8xeculive manager and the appointed nursery manager5 and deputy managers. This enables decisions relating to
the Tunning of the selling. staffing and the immediate needs of ¢hildren to be made effitsently and appropriately.
All safeguarding concems are h8ndl8d by trained DSL'S
The Gharty operates robust recruitrnent and vetting procedures lo ensure that indlvlduals appointed to
manag8m8nt and leadership roles have the appropriate qualifications, experience and competence required to
cary out these responsibilities.
Be￿een fomal meetings, the management C￿MmIt1ee maintains communication through digital channels to allow
timely consultation where nécessary. This enables trust88S to rémaln infomied and provide Input on matters that
may arise between scheduled meetings
Clear reporting procedures are in place so that staff can raise any concems or operational issues. Matters that
reqLJlre strategic ¢onsid8ration. recru¢tment or policy deci&ons are r&ferrad to the managelnent committee foT
review and approval
Inductlon and tralnlng of TrustOè8
New Iruslees are provided with an infomal induction lo help them understand thelr rola and responsibilltles. This
includes attanding their first management committee meeling, being Introduced lo the charity's objectives,
activities and governance framework, and receivtng guidance on their legal dulles a$ trustees.
As part of the recruitment pro¢8ss, appropriate checks are carried out, including a Disclosur& and Barring Servlce
(DBSI ¢heck. TTUStees are also provided with tho opportunity to ask question5 and familiarise themselves with the
QP8ratlons of the chanty.
While tha charity does not CUr￿ndY have a fomial tfustee induction and training policy in place, it is committed to
supporting new Iruslees to become effeclive members of the management Committee. This year, Ihe charity is in
the process of inducting 8 new trustee and will continuè to prowde guidance and support as they take on Ihelr
rol8.
Arrangom•nt8 tor sattlng pay of Key Management Por•onnel (KMP}
The cttarity operates a structured and transparent approach to setting pay for its key management p&r8onnèl
(KMPI and staff. Salaries are determined in lin8 wilh the responsibilities of Ihe role, the level of experience
requlred, and the funding available to the charity. includir¥J statutory funding allocations and Ioc81 authority
guldanco.
Pay rises a￿ ty￿CallY reviewed annu8lly In April, and are informed by chsnges in s18tulory fvndlng and the
Nats'onal Minimum Wage. The chafily aims lo provide fair and comp8tilivè salanes for the local area while
maintaining financial sustainability. Salaries are stwctured according to a tier￿ system, re11ectlng the hi8ra￿hy of
roles wilhln th8 organisation, ranging from apprentices and nLtrsery praclstioners, through room leaders and
deputy managers. up to manag6rs and the exeGutive manager. Staff wlhin the Special Educalional Needs ISENI
team are remunerated at a higher pay S￿le to reflect the specialised skills required.
Atl roles 8re advertised openly with dear pay scales and responsiblllties, and recruitrienl proc8sses involv8 at
least to three interviewers to ensure faimess and transparenw. Pay rates are s8t within a guidance
framework to ensure conslslency and to avoid arbitrary Increases. Any prop0581s to exceed set guidance are
subject lo dlscussion wilh the management cnmmittee.
The trustees are satisfied that this approach 8nsures salaries are reasonable. fair and in line with the charity's
resources, while supportlng the r8cruitment and retention of suitably qual'th'ed and experienced staff.

UNDER FIVES PROJECT
REPOFrr OF THE MANAGEMENT COMMrrrEE
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 lfjngdom Accountr"ng Stsndards (United lfjngdom Generally Acceptsd
Accountin9 Practice).
The law applicable to charities in England & Wales requires the trustees to prepare finanaal ststements for each
financial year which give a true and fair view of the state of affairs of the tharity and of the incoming resources
and application of resources of the charity for that period. In preparing thèse financial statements, the trustees are
required to:
select suitable accounting policies and then apply them consistentty,.
observe the methods and principles in the Charities SORP 2015 {FRS 102),.
make judgèments and estimates that are reasonable and prudentr
state whether applicable accounting stsndards have been fi￿rOwed, subject to any matsrial departures
dis¢losed and explained in the financial statements;
prepare the financial statements on the going concem basts unless it is inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any
time the financtal position of the charity and enable them to ensure that the financial stslements 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 safèguarding the assets ol the charity and hence for tsking Teasonable steps for the
prevenlion and detection of fraud and other irregularities
Approved by the Trustses and signed on their behalfr.
Jenry Thompson
Management Committee
Dato 14.

UNDER FIVES PROJECT
INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMIThEE
I report to the charity trustees on my 6xaminabon of thè accounts of the charity for the year endéd 31 March 2025
which are set out on pages 9 to16.
Re$ponslbllltl&s and basls of roport
As Ihe charivs trustees you are responsible for the preparation of the accounts In awordance wlth the
requlrements of the Charitiès Act 2011 Ilhe Acl'l.
I report in respecl of my èxamination of the charivs accounts carrled out under section 145 of the Act and in
carrying out my examin8Uon I have followed all Ihe applicable Directions givon by the Charity Commission under
section 145(5)(bl of the A￿.
Indopendent èxamlner's Statomont
sin￿ the charity's gross income exceeded £250,000. your ex8mlner must be a memb8r of a body listed in
section 145 of th6 2011 Act. I confirm that l am qualified to underlake the assessment bécause l am a member of
ICAEW. which is one of the listed bodies.
I have compléts¢J my examination. I confim Ihal no material mattern have come to my attenuon In connection wlth
the examination giving me ¢aLtse to beliove that in any material respect:
accounting records ￿le r￿t kept in respect of the charity as requlred by section 130 of the Act; or
the accounts do not accord wilh those records. or
th8 a¢counts do nol comply with the appllcable requlrements conceming the fomi and content of a¢counts
58t out in the Charities (Accounts and Reports) Regulations 2008 other than any requiremenl that the
acwunts glve a 'true and fair view, whlch Ss not a matter considered as part of an independenl examinauon.
I hava no concerns and havè come across no othèr matters In conne¢Uon with tho examination to which attention
should be drawn in Ihis report in order to enable a prop8r understsnding of the accounts to be reached.
19 March 2026
Dat8.....
S.Holmg8 IFCA)
For and on b8half of Azets Audit Services Limited
Accountants
First Floor
River house
1 Maidstone Road
Sidcup
DA14 5RH

UNDER FIVES PROJECT
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 MARCH 2025
Notes
Unrestricted
Funds
Unrestrlcted
Total
2024
Totsl
2025
Income from:
Charitable activities..
Fees and nursery vouchers
Grants receivable
Other grants & donations
Untform income
Bank interest
108.725
748,873
2,627
785
2.158
108.725
748.873
2,627
785
2,158
145,790
502,075
680
Totsl income
863,168
863,168
648,545
Expenditure on:
Charitable activtbes..
Provision of nursery care
T¢)tal expendlture
781,680
781,680
603.424
781,680
781,680
603,424
Net Income
81,488
81,488
45.121
Roconclllation of funds:
Total funds broughtforward
Total funds carried forward
4,019
4,019
(41.102)
85,507
85,507
4,019
Ail Iransactlons are derlved from conllnulng ath￿e$.
Al recognlsed gains and l¢)sses are inclu¢Jed in thè Ststernent of Finanoal Activilies.
All income and expenditure in the uJrrent and prior year FS unrestricted.

UNDER FIVES PROJECT
BALANCE SHEET
AS AT 31 MARCH 2025
Notes
2025
2024
Flxed assets
Tangible fixed assets
9,493
3,154
Current assets
Debtors - prepayments
Cash at bank and in hand
4,744
100,317
3,648
30,237
114.554
36,039
Cr•dltors: Amounts falling
du8 Wlthin one year
129.047)
(33,020)
Not Current a888ts
76,014
865
Nel ag•0ts
85,507
4.019
FUNDS
Unrestricled Funds
85,507
4,019
85,507
4.019
The ff nancial stalements were approv8d on .
19 March 2026
. and signed on behalf of the Bo8rd by..
J¢nny Thompson
Managemont Committeo
Edal Redmgnd
Management Cornmlttee
10

UNDER FIVES PROJECT
STATEMENT OF CASH FLOWS
AS AT 31 MARCH 2025
2025
2024
Notes
Cash flows from operating activttwes
Cash generated from operations
78,431
31,726
78,431
31.726
Investing activities
Purchase of tsngible fixed assets
(8,351)
{2,738)
Net cash provided by investing activities
(8,351)
(2.738)
Net increase in cash and cash equivalents In the
reporting perlod
Cash and cash equivalents at beginnin9 of the year
70,080
28,988
1,249
30.237
Cash and cash equivalents at end of the year
100,317
30.237

UNDER FIVES PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basls of preparatlon
Under Fives Projed is a unincorporated charity in the Uniled Kingdom. governed by a Gonstitution data
Aprll 1990 and amended on 16 September 1993 2nd 17 April 2011. The addres5 of the registered office
is given in the charity infomation on page 1 of these financial statements. The rsalura of the charity's
operatsons and principal activitiès are detailed on poge 2.
The charlty constitutes a public benefit entity as defined by FRS 102.
The financial statements have been prepared in accordance with Accounting and Roporung by Charities:
Stat8ment of Recommended Praclice applicable to charities preparing their accounts in accordance with
the Financial Rèporting Standard applicable in the UK and Republic of Ireland {FRS 1021 issued on 16
July 2014. the Financial Reportin9 Standard applicable in th& Unitèd Kingdom and Republic of Ireland
IFRS 102), the Charitles Act 2011 and UK Generally Accepted Pradlce as 11 applies from 1 January
2015. Updated by Bulletin 1 & 2.
The financi81 statements are prepared on a going concem basis under Ihe historleal cost Conven￿On,
modilled to include certain Items at fair valu8. The financial slatements are prep8red in slerllng which is
the function81 currency of the charity.
The slgnificant accounllng policies appli￿ in Ihe preparation of thes8 financlal statements are set out
below. These policlfjs have been ¢onslstenlly applied to all years presented unless othefwS$e slated.
Incom•
All incomg is Indud6d in the Stst8rn8nt of Financial Activilles (SOFA) when Èh8 charity is legally entitled
to the inoome after any perfom8nce condilions hav• been mot, Ihe amount can be measured reliably
and It is probable that the income will be received.
For donations lo be r8cognised th8 charity wll have been nOtif￿d of the amounts and the settlement
date in writing. If there are condllions attached to Ihe donation and this r8quires a level of perfonnance
before entillemènt can be obtained then income is deferred until those conditions are fully m8t or the
fvlfilment of those condilions is withln the control of the charity and it is probeble that they wll be fulfilled.
The chanty recelves govemmenl granls in respect of nursery fees. Income from govemm8nt and other
grants are recognis8d at fabr value when the charity has entiuement aft8r any performance conditlons
have been rnet, it is probable thal the income will b& recaived and the arnount can be measured reliably.
If entsuement is not met then these amounts are deferred.
Expendlture
All expendilure is aGcounted for on an accnjals basis and has been cl8sslfied under he8dlng8 that
aggregate all costs related to the category. Expendlture is recognised where there 18 8 legal or
construdive obligation to make payments to third partl8S, it is probable that the settlement will be
requlrgd and the amount of lh• obligalion Gan ￿ measured roliably. It is categorised under the following
heading..
Expenditure on chantable 8ctivities includes those costs incurred by Ihe charsty in the delivery of
ils activities and seryices for its ben8ficiaries. It includes both costs allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Funds
Unrestricted funds are available for use at the discreb.on of the trustees in furlherance of the general
objectives of Ihe charity and which havo nat been designated for other purpos8S.
12

UNDER FIVES PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Tangible flxed assets
Tangible fixed assets are stated at cost (or deemed cost} or valuation less accumulated depreciation and
accumulated impairment losses. Cost indudes Gosts directy attributable lo making the asset capable of
oparating as intènded.
Depoualron is provided on all tangible fixed assets. at rates car￿lated to write off the cost less
estimated residual value. of eath asset on a systematic basis over its expected useft(I life as follows:
CompLrters and equipment
- 25% straight line
Cash at bank and in hand
Cash at bank and tssh in hand indudes cash and short tenn highly liquid investrnents with a short
maturity of three months or less from the date of acquisitson or opening of the dèposit or similar account
Debtors and creditors recelvable I payable withln one year
Debtors and credrtors with no ststed intsrest rate and ￿erVable or payable vrithin one year are ￿e0rded
at transaction pr1￿. Any losses arising from impainnent are recognised in expenditure.
Corporatlon Tax
The chaiity is an exempl charity within the meaning of schedule 3 of the Charttles Act 2011 and is
consldered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets
the deflnthon of a charilable company for UK corporation tax purposes.
Golng ¢oncern
The financial ststements have been p￿pared on a going concem basis as the trustees believ8 that no
material uncertainties e￿sL The trustees have conS￿ered the level of funds held and the expected level
of income and expenditure for 12 months from aLrthorTsing these financial statements. The budge16d
income and expendlture is sufficient, after taknng into consideration the change in staff and using
apP￿ntice$ to save money an¢J cost reducts'ons, the level of reserves for the chartty to be able to
continue as a going concem.
Employm Bon•fits
The costs of short-tem employee benefts are recognised as a liabilty and an exp8nse, unless those
costs are required to be recognised as part of the fixed assets.
1.10
The cost of 8ny unused holiday entitlement is recognised In the period in vhlich the employee's seNices
are received,
Temination benefits a￿ recognised immediately as an expense when the company Is demonstrably
committed to teminate the employment of an employee or to promde termination benefits.
Paymerrts to defined contribution reti￿rnent benefft schemes ao charged as an expense as they fall
due.
1.11
Judgements and key sources of estimatlon uncertainty
Accounting estimates and judgements are continually evaluated and are based on historical experience
and other factors, induding expectstions of future events that are believed to be reasonable under the
circumstances.
Th& following judgements (apart from those involving estimates) have been made in the process of
applying the above accounting policies that have had the most Slgnificant effect on amounts recognised
in the financial ststements..
13

UNDER FIVES PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.11
Judgemènts and key sources of e5timatlon uncertainty (continued)
Us8ful 8conomAc {￿eS oft8ngible assets
The annual depreaalion 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 re-
assessed annually. They are amended when necessary to reflect current estimates, based on
technolcgical advanc8ment, fvture investments, economic utilisation and the physical condition of the
assets. See note 6 for the carying amount of the tangible fixed assets and note 1.6 for the usefvl
economic lives for each class of assets.
Bad debts
Debtors are regularfy reviewed for recoverabilty. any debts which in the oplnion of managèment are not
recoverable are provided for as a specffic bad debt.
There a￿ no key assumptions conceming the future and other key source5 of estimation uncertainty al
the reporting date that have a signffjicant risk of causing a mal8rial adjustment lo tho carying amounts of
assets and Ilabilitres wilhin the next financial year.
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
London Borough of Gr8enwich
748,873
502,075
748,873
502,075
STAFF COSTS AND TRUSTEE,
REMUNERATION
2025
2024
Wages and salades
Social Secunty costs
RecruStment
457,518
35,283
716
360,665
21,178
534
493,517
382,377
The average number of employgos (including casual and part time staffj dvrtng the financlal yéar was 23
12024: 20)
There wer8 no employees eaming more than £60,000 during the year12024'. none}.
The management committee as listed on page 1 are all voluntsry roles.
During thg year, one of the trustee, received £1,068 {2024: none) for services included within dlract cost6,
14

UNDER FIVES PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CfrIARITA8LE EXPENOITURE
2025
2024
Stsff Costs
Agency Staff
Rent
Nursery supplies
FO¢￿ & refreshments
Depreciation
Telephone. ststionery & postsge
Occupancy Costs
Insuranc
Payroll burèau
Training
New site set-up costs
Charitsble donation
Migellaneous
Staff entertaining
Subscriptions
Govemance
493,517
63.219
37,061
6,305
18,995
2,012
24,395
46.016
2,019
2,792
1,132
63,635
152
698
3,500
5.605
10.627
382,377
60,303
25,310
4,945
16.316
922
17.322
53,958
1.922
3.932
1.902
21,124
1.897
1.415
2.533
7,246
781,680
603,424
GOVERNANCE COSTS
202S
2024
Independent examination
10,627
7,246
10,627
7,246
TANGIBLE FIXED ASSErs
Computers
and
Equipment
C05t
As at 1 April 2024
Additions
Disposals
35,150
8,351
As at 31 March 2025
43,501
Depreclation
As at 1 April 2024
Charge for year
Released on disposal
31,996
2,012
As at 31 Mareh 2025
34,008
Net Book Values
At 31 March 2025
9.493
At 31 Mard) 2024
3.154
15

UNDER FIVES PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CREDITORS: Amounls falling due
due withln one year
2025
2024
Trade Credilors
Accruals
other Creditors
9,348
10,718
8,981
17,270
10,354
5,396
29,047
33.020
CASH GENERATED FROM OPERATIONS
2025
2024
Surpluslld8ficit) for Ihe year
81,488
45,121
Adlu8th1onts for:
Deprèciation of tan9ible assets
2,012
922
Movoment In capital:
D6creasg1(Increasel in debto
(Decreasellincreasè In credltors
11,0961
(3,973}
{3,648)
(10,669)
78,431
31,726
RELATED PARTY TRANSACTIONS
During the year the charity wa8 Invoi¢ed £53.720 (2024.. £50,258) for agency staff services from Pots ol Fun
Mobile Creche Limlled, a company owned by S Carr. No amounts were oulstandlng as at 31 March 2025.
16