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2023-03-31-accounts

NW5 COMMUNITY PLAY PROJECT

(A Company Limited by Guarantee)

Charity No. 1027125 Company No. 02692292 (England and Wales)

Trustees’ Annual Report and Financial Statements

For the year ended 31[st] March 2023

NW5 COMMUNITY PLAY PROJECT

Contents

For theyear ended 31st March 2023
Page
Legal and Administrative Details 1
Trustees’ Annual Report 2 – 5
Independent Examiner’s Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 – 13

NW5 COMMUNITY PLAY PROJECT

Legal and Administrative Details

For theyear ended 31st March 2023
Status The organisation is a registered charity, registered on the 13thOctober 1993.
Registered charity no. 1027125
Governing document The charity is constituted as a Company Limited by Guarantee.
Company no. 02692292 (England & Wales)
Registered address The Playhut
Islip Street
Kentish Town
London
NW5 2TU
Directors and Trustees Served during the year and up to the date of this report were as follows:
Emma Cheetham (chair)
Layla Ahmed Awad
Karen Firth
Linda Caroline Plummer
Reagan Chelsea Aliyah Cuff (resigned 20 May 2022)
Rachel Elizabeth Dooley
Natasha Maria Holden
Bankers HSBC Bank Plc
Camden Town
London
NW1 8QL
Independent examiner Chaweevan Williams FCCA
Verdant Accountants Limited
20-22 Wenlock Road
London
N1 7GU

Page 1

NW5 COMMUNITY PLAY PROJECT

Trustees’ Annual Report

For the year ended 31st March 2023

Introduction

The Trustees are pleased to present their report together with the financial statements of the Charity for the year ended 31st March 2023.

Legal and administrative information set out under Company Information form part of this report. The financial statements comply with current statutory requirements, the Charity’s Articles of Association, and the Statement of Recommended Practice – Accounting and Reporting by Charities.

Objects of the Charity

The principal purpose of the Charity is to promote the welfare of children and young people up to the age of 25, and their families, living in the London NW5 area, London. This includes the advancement of education and provision of facilities for recreation of the aforementioned inhabitants of the NW5 area.

The Charity’s principal activities include:

Page 2

NW5 COMMUNITY PLAY PROJECT

Trustees’ Annual Report

For the year ended 31st March 2023

Organisation and Management

A Management Board of local people governs the day-to-day work and policy direction of the Charity. These people are elected at the AGM of members and are provided with some ongoing advice and training to assist them in their work on the Board and its sub-committees/task groups. At least two thirds of this Board are also directors of the Company and Trustees of the Charity and overall governance of the Charity rests with those Directors/Trustees. They are accountable to members/users and report back at members meetings and at the AGM. The Charity employs a Manager and small staff team to develop and deliver the activities, services and facilities referred to above. The Manager has also been appointed Secretary to the Company

Investment Powers

Under the Memorandum and Articles of Association the Charity has the power to make any investment which the Trustees deem fit.

Investment Policy

The Trustees have resolved only to invest reserves in business reserve bank accounts or similar and not to put money into stocks or shares or any other investment where there is a risk of the value of that investment diminishing.

Fixed Assets

The charity owns its centre (“The Playhut“) and all the facilities in the centre, and the structures and other facilities on the site. The details of fixed assets are explained in the notes to the financial statements. The NW5 Project also manages the local sports pitch.

Related Parties

The Charity worked closely with young people and adults in the community, and other local voluntary and statutory bodies, in identifying needs in the area and seeking to address those needs.

Review of Financial Position, Activities and Future Developments

During the 2022/23 financial year, despite the aftermath of the Covid pandemic and the cost of living crisis, the Charity maintained and developed its services and its principal range of activities for children and their families.

The NW5 Project is embedded in a particularly deprived neighbourhood which has suffered greatly economically and socially in recent years. Therefore, all NW5 Project services are currently being provided free. This has only been made possible by strenuous non-stop efforts to encourage donations and success in securing some relatively short-term funding from charitable trusts. Looking ahead, the Charity expects fundraising to continue to be a difficult and intense area of activity.

The playhut/play centre is 50 years old and the Trustees wish eventually to replace this with a new centre if a funding source can be identified. Meanwhile the present building and facilities have to be maintained (and where possible improved) to meet frequently changing local needs, and to take full account of any new or revised legislation.

Page 3

NW5 COMMUNITY PLAY PROJECT

Trustees’ Annual Report

For the year ended 31st March 2023

Risk Management and Controls

The Trustees keep under review the major risks facing the Charity and internal financial controls. In addition, there are regular reviews and updates of Risk Assessments, Safeguarding policies, and other policies and procedures. Procedures exist for mitigating and responding to risks and any problems identified; and advice and guidance is available from key local authority officers, the Project’s payroll service, development advisers, the National Youth Association, London Youth, and other sources.

The Trustees believe that by maintaining a high standard of service, relevant to local needs, it can continue and build on relationships of trust with the local community and partner organisations, and continue to reach out to those in need of the Charity’s facilities and support. This approach is central not only to the Charity’s ability to survive, but also its ability to respond to changing needs and circumstances, and move forward in these challenging times.

As a charity and as a company limited by guarantee, the Project is subject to the regulations and requirements of both the Charity Commission and Companies House, and various regulatory requirements in respect of playwork and youth work. Naturally the Charity is also compliant with all other relevant legal requirements. The Project is also actively working towards London Youth Quality Awards.

The NW5 Project is grateful for the ongoing advice and support available from Camden Integrated Youth Services, Young Camden Foundation, and other local bodies.

Reserves Policy

It is the Charity’s policy to maintain a level of general reserve (in addition to any designated reserves) sufficient to meet any redundancy costs and contractual commitments to creditors, and full overhead costs for a period of three months.

Directors and Trustees

Directors of the company are also Trustees of the charity and there are no other trustees. These Directors/Trustees collectively have the power to appoint additional directors and members of the Management Board as they consider fit within the overall limitations set within the Memorandum and Articles of Association. The Board is also able to invite others to attend and contribute to management meetings, sub-committees and discussions. Directors who served during the year are listed on the company information page.

Page 4

NW5 COMMUNITY PLAY PROJECT Truste68' Annual Report For the year ended 31st March 2023 Statomont of Trustoes, Responslbllltles Company law requiTrs th8 directors lo prepare fvnancial slalements for each financial year which giv6 a true and falr view of the slate of affairs of the ¢haritable ¢ompany as at the balan¢e sheet date. Those statements should identify all incoming resources and the appllcatlon of those resources, Including grant aid carried forward lo meet planned expenditure in the following financial year. In preparing financial statements the directors are expected lo follow best pracllce and.. select suitable accounting pollcies and then apply them ¢onsistently make judgemenls and estimates that are reasonabl8 and prud6nl, and prepare th8 h'nancial stalemenls on the going-concern basis unless it is inappropriat81o assum8 that the charSty wlll contlnue on that bas1S. The directors are responslble for keeplng proper accounting records which disdose with reasonable accuracy al any lim8 the true financial position of the charitable company and to ensure that those rinan¢lal slalemenls comply with the Companies Act 1985 and the Companie8 Act 2006. The directors are also responslble for safeguarding th8 assets and ethos of the charitabl8 company, and for ensurlng external bodles OY individuals do not seek to assume control of thè Charity's facilitles. assets or work. Dlrectors musl also take reasonablg steps for th8 preventlon and detection of fraud and other irregularities. Independent Examiner Following the retirement last year of John Green & Co . who for almost two decades was the Charity's Independent Examiner, Ihe Truste85 are pleased to welcome Verdant Accountants Llmlted as the new Indepandenl Examiner for 2022123. Approved This report has been prepAr8d in a¢¢ordan¢e wilh the Accounting and Reporting by Charities Statement of Recognised Praclice and Sn accordance with the special provisions of Part Vll of the Companies Act 1985 relating to small entitles, and was approved by the Directors and Trustees on and slgned on their behalf by.. Emma Cheelham {Chalr) Dlrector and Tru51ee Page 5

NW5 COMMUNITY PLAY PROJECT

INDEPENDENT EXAMINER’S REPORT

Independent examiner’s report to the trustees of NW5 Community Play Project, Company no: 02692292 and Charity no: 1027125

I report on the financial statements of the above charity (a company limited by guarantee) for the year ended 31 March 2023, which comprise the statement of Financial Activities, the Balance Sheet and the related notes.

Respective responsibilities of trustees and examiner

The trustees who are also directors of the company for the purposes of company law, are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (‘the Act’). The Charity’s trustees consider that an audit is not required for this year under section 144 of the Act and that an independent examination is needed.

It is my responsibility to examine the accounts under section 145 of the Charities Act, follow the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act, and state whether particular matters have come to my attention.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

(1) In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect:

(2) 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.

Chaweevan Williams FCCA

Date: 03 January 2024

Chartered Certified Accountant Verdant Accountants Ltd 20-22 Wenlock Road London N1 7GU

Page 6

NW5 COMMUNITY PLAY PROJECT

Statement of Financial Activities

For the year ended 31st March 2023

Notes
Income from:
Grants
3
Fee income
Facility hire
Fundraising and donations
Sundry income
Interest
Expenditure on:
Staff costs
4
Projects and services
Premises and utilities
Independent examination fees
Bookkeeping and payroll service
Staff training and safeguarding costs
Depreciation
Other running costs
Total expenditure
Funds at 1 April 2022
Transfer between funds
Funds at 31 March 2023
Total income
Net Income for the Year		 Unrestricted
Funds
£
0
19,798
3,789
17,711
405
308
42,011
35,707
32,733
0
1,620
2,682
0
0
5,619
78,361
(36,350)
34,052
44,679
42,381		 Restricted
Funds
£
97,771
0
0
0
0
0
97,771
113,072
17,626
5,081
0
0
1,246
3,639
0
140,664
(42,893)
122,157
(44,679)
34,585		 Total
2023
£
97,771
19,798
3,789
17,711
405
308
139,782
148,779
50,359
5,081
1,620
2,682
1,246
3,639
5,619
219,025
(79,243)
156,209
0
76,966		 Total
2022
£
138,880
13,255
2,470
11,596
240
12
166,453
124,885
30,701
4,267
610
910
838
3,639
4,031
169,881
(3,428)
159,637
0
156,209

The notes on pages 9 to 13 form part of these accounts.

Page 7

NW5 COMMUNITY PLAY PROJECT Balance Sh•et AS al 31*1 March 2023 2023 2022 Flxed assels Tangible a888ts Current a$s•ts Debtors Cash at bank and In hand Notes 21.834 25,473 1,875 54,877 56.752 1.748 132,258 134.006 Llabilltlès Credilors.. amounts falllng dua within 1 year Net current a$$ots 11,6201 {3.2701 55,132 76,966 130,736 156,209 Net assets Funds UnTe81ricted funds.. Designated fijnds Ggn8ral funds 15,000 27.381 42.381 34,585 32,000 2.052 34,052 122,157 Rostricted fund8 Total Funds 76,96fj 156,209 Tha charitable company is entilled lo exempllon from audit under Section 477 of the Companies Aet 2006 for the year ended 31 March 2023. Th8 members have not requlred the charitable company to oblain an audft of ils flnancial slalements for the yaar ended 31 March 2021 in accordance wllh Secllon 476 of the Companies Act 2006. The Iruslees acknowledgo th81r restyJn8ibillties for (al ensuring that the charilab18 company keeps aocountlng records that comply with SectSons 386 and 387 of the Companies Act 2006 and {b} preparing financSal slalements whlch glve a tru8 and fair view of the stal8 of affairs of th8 charllable ompany as al Ihe end of each financial year and of ils surplus or deficit for each financlal year in accordance with the requirements of Soctions394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial stalements,so far as applicable to lh& charitable company. These financial statements have been prepared in accordance with section 398 of th& Companies Act 2006 and sectlon 138 of the Charllles Act 2011. These accounts are prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and conslllul& the annual accounts requlred by the Compan18s Act 2006. The financial statements wero approved by the Board of Trustees on 0,4-c)1- 2024 and were slgned on 115 behalf by.. Emma Cheelham (Chalr) Director and Trustè6 The notes on pages 9 to 13 fomi part of these accounts. Pago 8

NW5 COMMUNITY PLAY PROJECT

Notes to the Financial Statements

For the year ended 31st March 2023

1 Accounting policies

1.1 Basis of Preparation of the Financial Statements

The financial statements have been prepared in accordance with the Companies Act 2006 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 (FRS 102) (as amended for accounting periods commencing from 1 January 2016).

The charity is a Public Benefit Entity as defined by FRS 102.

At the time of approving the accounts the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

1.2 Tangible Fixed Assets and Depreciation

Tangible Fixed Assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets over their expected useful lives on the following bases:

Computer equipment 25% Straight Line Basis Play equipment 10% Straight Line Basis Building refurbishment 10% Straight Line Basis

1.3 Voluntary Income

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received.

1.4 Grants

1.5 Restricted Funds

Restricted funds are to be used for the purposes specified by the donor. Expenditure which meets these criteria is identified to the fund.

1.6 Unrestricted Funds

Unrestricted funds are certain grants, donations and other income received or generated for the objects of the charity without further specified purpose and are available as general funds.

1.7 Designated funds

Designated funds are unrestricted funds set aside by the trustees for particular purposes.

1.8 Pensions

The charity contributed to personal pension plans for 7 of its employees (2022:7). Employer contributions payable by the charity under these plans are charged to the Statement of Financial Activities when incurred.

Page 9

NW5 COMMUNITY PLAY PROJECT

Notes to the Financial Statements

For the year ended 31st March 2023

1 Accounting policies (continued)

1.9 Financial Instruments

The charitable company has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2 Trustees’ Remuneration and Expenses

No remuneration was paid to Trustees during the year (2022 – none). There were no reimbursements to Trustees during the year (2022 – none).

Page 10

NW5 COMMUNITY PLAY PROJECT

Notes to the Financial Statements

For the year ended 31st March 2023

3 Grants

Grants
London Borough of Camden:
Summer programme
Resilience fund
Youth services
Other Festival
Community fund
Coronavirus job retention scheme
Camden Giving Trust-Changemakers Grant
Camden Giving Trust– Promoting Inclusiveness
Camden giving – Food programme
National Big Lottery
Young Camden Foundation
Safer Neighbourhood Project		 Unrestricted
2023
£
0
0
0
0
0
0
0
0
0
0
0
0
0		 Restricted
2023
£
3,000
0
0
2,900
0
0
10,000
4,000
7,500
66,871
2,000
1,500
97,771		 Total
2023
£
3,000
0
0
2,900
0
0
10,000
4,000
7,500
66,871
2,000
1,500
97,771		 Total
2022
£
0
15,000
20,000
4,500
66,871
3,202
16,000
0
0
0
13,307
0
138,880

4 Staff costs

Salaries and Wages
Social security costs
Pension costs		 2023
£
122,073
21,995
4,711
148,779		 2022
£
118,737
4,088
2,060
124,885

No employee was remunerated in excess of £60,000 per annum.

The average number of employees, calculated on a full-time equivalent basis, analysed by function was:

Charitable activities – general operations 2023
Number
6.6
6.6		 2022
Number
6.6
6.6

Page 11

NW5 COMMUNITY PLAY PROJECT

Notes to the Financial Statements

For the year ended 31st March 2023

5 Tangible fixed assets

Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
6 Debtors
Due within one year
Other debtors
Prepayment
7
Creditors: amounts falling due within one year
Trade creditors
Accruals
Taxation and Social Security		 Computer
Equipment
£
1,813
0
1,813
1,813
0
1,813
0
0		 Playhut &
Structures
£
82,442
0
82,442
56,969
3,639
60,608
21,834
25,473
2023
£
0
1,875
1,875
2023
£
0
1,620
0
1,620		 Total
Assets
£
84,255
0
84,255
58,782
3,639
62,421
21,834
25,473
2022
£
0
1,748
1,748
2022
£
0
3,270
0
3,270

Page 12

NW5 COMMUNITY PLAY PROJECT

Notes to the Financial Statements

For the year ended 31st March 2023

8 Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Creditors: amounts falling due within one year
Total net assets		 Unrestricted
funds
£
0
44,001
(1,620)
42,381		 Restricted
funds
£
21,834
12,751
0
34,585		 Total
funds
£
21,834
56,752
(1,620)
76,966

9 Movement in funds

Movement in funds
Restricted funds
Unrestricted funds:
Designated fund:
Youth Employment Project
Project Resilience Fund
General funds
Total funds		 At 1 April
2022
£
122,157
7,000
25,000
32,000
2,052
156,209		 Incoming
Resources
£
97,771
8,000
0
8,000
42,011
147,782		 Resources
Expended
£
(140,664)
0
(8,000)
(8,000)
(78,361)
(227,025)		 Transfers
£
(44,679)
(17,000)
61,679
17,000		 At 31 March
2023
£
34,585
15,000
0
15,000
27,381
76,966

Page 13