|Legal and administrative|Information|Information|| |---|---|---|---| |Report ofthe tmstees|||| |Report ofthe auditors|||4-7| |Statement ofFinancial|Activities||| |Balance Sheet|||| |Cash Flow Statement|||10| |Accounting
policies|||11-14| |Nates forming part of|the financial statements||15-19| |Detaged income gr expenditure||account|20| |Page 20does notterm|port o/|the statutory accounts.|| ## |A|KVeer|||| |---|---|---|---|---| |5|Arsis n|||| |H|Osman|(resigned 27/1/2023)||| |P|EDaniels|||| |F|W Man|(appointed|22/04/2022)|| |E|M J J Van|Waeyenberge|(appointed|10/2/2023)| |»»-Management|»»-Management||committee|committee|members are|also, for the purpose ofthe Compirnles|also, for the purpose ofthe Compirnles|Act 2006,| |---|---|---|---|---|---|---|---|---| |company directors.||||||||| |Company|secretary:|||||P EDaniels||| |Key management|||&personnel|||N Cossr-NurseryHead||| |||||||5Martin - Finance officer||| |Administration||and||registered||||| |office:||||||53-55Balls Pond Road||| |||||||London||| |||||||N1 4BW||| |Charity registration|||non|||1067693||| |Company|registration|||non||03076260(England|&Wales)|| |AudItors:||||||Christopher
Michael Limited||| |||||||Chartered
Certified|Accountants|&Statutory Auditors| |||||||26 Station Rd||| |||||||New Barnet||| |||||||Herts||| |||||||EN5 1QW||| |Bankers:||||||Barclays Bank Pic||| |Funding|authorities:|||||LBof Islington||| |||||||Hackney
Learning Trust||| ## |Rgln Jk Kardes Limited||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |(private Company
Urnlted
by Guarantee)||||||||||||||||| |Dlrectom end Trustees Report forthe year ended 31ggerch|2023|||||||||||||||| |(Continued)||||||||||||||||| |Financial review||||||||||||||||| |Total income for the year amaunted to62,633,864with total expenditure
amounting||||toE&664367 leaving a|||||||surplus||in the year|||| |of 889,497.||||||||||||||||| |Accumulated
reserves at the balance sheet date amounted to61,810,676,ofwhich|||E1,471,798represent||||||income|||reserves.||||| |Investment
powers end pogcy||||||||||||||||| |The trurtees,
having
regard to the gquldlty
requirements
of operating
the nursery,||||have|kept s prrqmrtion||||||of avagable|||gquid||| |funds
In an Interest bewlng account to maxlmise the rate ofreturn,|although
given|||current||rates|ofInterest the|||||rate|of return|||ls| |minimal. The trustees wgl ravleW the position snd consider alterrwtlve
Investments||||to maxlmlse|||returns||but will|||continue||with||a| |risk averse pogcy.||||||||||||||||| |Reserves pogcy snd going corwern||||||||||||||||| |The Trustees have undertaken
a review of the charity's
requirements
for||reserves
In gght|||ofthe||main|risks to the organisation.||||||||| |As part ofthis review the charity hss sat up two funds, namely a 'running||cast' and||'staff &||rnatemlty||fund' resenre,|||||in gne with|||| |Charity
Commission
recommendatlons.
The running
cost reserve|ls to cover running
costs of||||||tha charby||||of between|||3|to|6| |months
and as st 31 March 2023 stands at E405,000 which
ls equivalent||to six|months||running
costs.||||Ths||'staff & maternity|||||| |fund'
Is to cover future potential
statutory
gabgltles
(redundancy,|unpaid|hogdsy|Ik monies|||In geu of||notice)|||should||the|charity||| |cease activities and asat31March 2023sends at 626,472,||||||||||||||||| |Plena for future periods||||||||||||||||| |Funding for the year 2023/24 hss been secured
from L 8 Isgngton|and Hackney||teaming||Trust||with total grants receivable||||||||for|| |the year ofE1,182,188for the Charities'
core activities and tha slm ofthe Trustees||||Is to|further||develop|||the chgdren's||||centre,||| |the provision ofnursery education
and outreach services ln the Hackney &||Isgngton||areas.||||||||||||| |Trustees responslbgltles
In relatian tothe financial statements||||||||||||||||| |The charity trustees
Jwho sre also directors ofthe Company for the purposes of|||company|||lawl|are responsible|||||for|preparing|||a| |trustees'
annual
report snd financial
statements
In accordance with appgcsble
law||||and United|||Kingdom|||Accounting|||Standards|||| |(United
Kingdom
Generally Accepted Accounting
Practice).||||||||||||||||| |-select suitable accauntlng
pogdes and apply them consistently;||||||||||||||||| |-observe ths methads
and prlndples
In the Charities
SOAP;||||||||||||||||| |-make judgments
and estimates that are reasonable
and prudent;||||||||||||||||| |-state whether appgcsble
UK accounting
standards
have been followed, subJect to any material|||||||departures|||||||||| |disclosed and explained
In the financial ststementa||||||||||||||||| |-prepare iinsndal
statements
on a going concern basis unless It Is|inappropriate
to|||presume||that the charity||||||||||| |wgl continue
ln operation.||||||||||||||||| |The trustees
are responsible
for keeping
accounting
records which|dlsdose
with||reasonable|||accuracy||at||any time the flnsndal||||||| |position ofthe charity and enable them to ensure that the financial|statements
comply with the||||||Companies||||Act 2006.They are|||||| |also responsible
for safeguarding
the assets of ths charity
and|hence|for taking
reasonable|||||stepr,|for the||||prevention|||and|| |detection offraud and othw Irregularities.||||||||||||||||| |Directors and trustees||||||||||||||||| |The trustees
who are directors
for the purpose of company
law who have served
rsqrort are set out on page l.||||during||the year and||||up|to|the|date|of this||| |Statement asto disdoswe toour auditors||||||||||||||||| |In sofar as the trustees sre aware at the time ofapproving
our trustees'
annual report;||||||||||||||||| |-there ls no relevant
information,
being Information
needed
by the auditor||In connection
with preparing|||||||their|||||||| |report, ofwhich the company's
auditor Is unaware;
and||||||||||||||||| |-the trustees,
having made enquiries offellow directors and the company||auditor|that ther|||ought to have||||||||||| |Indlvlduagy
taken, have each taken ag steps that he/she
Isobgged|totake|as a director ln|||order||to make|||||||||| |themselves
aware of any relevant
audit Information
and to catebgsh that||the auditor
Is aware ofthat||||||||||||||| |information.||||||||||||||||| |By orde ofthe
oftrustees||||||||||||||||| |A KINeer||||||||||||||||| |Trustee fk Company
DIrector|||||Dates 05|||||f/2||/2 4/2D||||| ## ## ## ## ## ||||||Unrestricted/|||| |---|---|---|---|---|---|---|---|---| |||||Restricted|Designated||Total|Total| ||||Nates|FuntLs|~Fund||~020r23|~2021 22| |||||3|E||c|1| |Incomer||||||||| |Donations snd restricted|grants||3|1,056,221||1,056,221||1,085,575| |Income from Charitable
actlvltler;||||||||| |Nursery fees|||||559,882||559,882|555,845| |Income from other charitable||activities||||||| |Fundralslng
86other income|||||37,161||37.761|9,133| |Total income||||1,056,221||||| |gxpendlture||||||||| |Expenditure
on charitable|activities:|||||||| |Direct Charitable expenditure|||6|1,056,221|367,181|1,424,002||1,?61,832| |Management
and administration|||7||140,365||140,365|129,670| |Total expenditure||||1,056221|6|3|3|| |Net Income/{expenditure)|and net movements|||||||| |In funds before gains snd|lames on Investments|||||||| ||||18||89,497||89,497|259,051| |Total funds brought fmwsrd|||||1,721,179|1,721,179||1,462,128| |Total funds canted forward|||||1810676|1|810,676|1,721 179| ## |hale(k Esrdes Umlted
Statement ofcash gows
Forths
rended 31hwmh 2023|||||| |---|---|---|---|---|---| ||||||2021/22| |||||Total|Prier year| |||||Funds|Funds| |Cash flaws fmm operating acgvidsn||||E|E| |Net cash provided
by (used In}operating|activities|||274,215|| |Cash gows farm Investing acthades|||||| |Dividends,
interest end rents from investments||||1,825|| |Proceed from the rale ofproperty, plant and equipment|||||| |Purchase ofproperty,
plant and equipment||||(5,38U|(1,1S5)| |Net cash Provided
by /(used
In) Irwsstlng|ccllltles|||270,659|103,188| |Change in cash and cash equivalents
In ths reporting
period||||270,658|103,188| |Cash and cash equivalents
st the beginning|ofthe reporting||period|1,255,271|1,152,083| |Cash and cash equivalents
at the end ofthe reporting||period||2525„r}29|1,255,271| |naconcgletlan
ofnst mavement
Infunds|to nst cash flaw||from operating actlvhies||| |Net movement
In funds forthe reporting
period (ssper||the|SOFA)|89,497|259,051| |Adjustments
for;|||||| |Depreciation
charges||||8,107|4,632| |Dividends,
Interest and rents from Investments
(lncreasel/decrease
In debtors
Increase(deuease)
In creditors||||(t,825)
157,203
21,233|(68)
(167,784)
8,444| |Net cash provided
by (used In) operating|activities|||274,215|104,275| |Analysis ofcash and cash equivalents|||||| |Cash In hand||||1,525,929|1,255,271| |Tolalcash and cash equivalents||||2,525 r}29|~2255,272| ## ## ## ## ## ## ## ## |1|Legal status ofths Tnn|t|t|t|t|t|t||||| |---|---|---|---|---|---|---|---|---|---|---|---| ||The Trust ls a company|Bmlted by guarantee||||||and has no share capital. In the event|ofthe charity tmlng|wound|up, the| ||gsbglty
In rmped ofthe||guarantee|||Is|gmited|to61per member ofthe charity.|||| |2|Flnendsl
performance|of||the|shsrlty||||2022/23||202f/22| ||||||||||||E| ||Income|||||||||~2650.533|| ||Expendkwe
on «heritable|||activities|||||1,425,835|1,257,200|| ||Expenditure
on managmncnt||||and adlnlnlstratlon||||140,365|129,670|| ||Depredation||||||||8,207||4,632| ||||||||||~1564|~391502|| ||Net Income||||||||89,497|259,051|| ||Total funds brought
forward||||||||1,704,561|1,445320|| ||Total funds mrrlw! forward||||||||~1794,058|~2704,561|| ||Represented
by:||||||||||| ||Unrestricted
funds||||||||~2810676|222722 180|| |3|Income from Oonadons||snd||Grants||||||| ||Mlnlk Ksrdes||||||||||| ||Grants receivable||||||||||| ||L8Isgngton-
Community|||Unks|||||||69,800| ||LBH Household
Support||Fund||||||||40,000| ||L8 lsgngton - G A P||||||||||8,463| ||L8 Isgngton .N E0||||||||||9,337| ||L8lsgnBton- Rabatss||||||||||| ||L8 lsgngton -5F5 C
18Isbngten -2Year old||Pgot||||||3,240||30,000
5,265| ||L8Isgngton
~384YO||||||||6,492||23883| ||LBIsgngton
bright start||||||||100,000||| ||LBlagngtcn
SENO||||||||||289| ||LBlsgngton
family kitchen|||proJect|||||||305| ||Hackney additional
restriction||||||||||10,350| ||Hackney Learning Trust||- 2year old||||||23.591||9,D1| ||Hackney LearnlngTrust||~ChSdren Centre||||||79,052||78,552| ||Hackney Learning Trust||~Hesdcount/5||||F F||26,272||65,264| ||Hackney FE||||||||21,861||| ||NHS Incredible Years||||||||20,649||18,042| ||NHS CITY antenatal||||||||||10,591| ||Big lottery||||||||157,160||123,996| ||Greenlch
university||||||||||3,500| ||HCVS||||||||||7,000| ||HMRC IRC||||||||||3,526| ||Grant Aid||||||||6,728||| ||Sunbables||||||||||6,910| ||Tesco groundwork
UK||||||||||1,000| ||Csmpsboume
school||||||||1,000||| ||Speech support||||||||9,817||| ||Other miscellaneous||||||||599||697| ||Factory||||||||||| ||LBIsgngton||||||||523,447||538,021| ||LBlsgngton:SEN||||||||3,220||9,791| ||LBlsgngton:
EYPR||||||||'l,708||4~7| ||LBIsgngton: Maternity||||||||8,492||| ||LBIsgngton:Bnghtstart||||||||12,999||| ||LBIskngton; 2year olds||||||||||| ||LBlsgngton; Sd year olds||||||||5,962||| ||LBIsgngtonr
Mlsceganeous||||||||1,845||7415| ||EadY Years premium||||||||2,142||| ||NONA||||||||||| ||Gmm sld||||||||443||| ||||||||||~1056,221|~2085
75|| |e|Income from charitable||activities||||||||| ||Nursery fees||||||||~559882||| ||||||||2022/23|2021/22| |---|---|---|---|---|---|---|---|---| ||||||||6|f.| |5|Income from other charitable|||activities||||| ||Fundraising||||||35,936|9,065| ||Interest receivable||||||1,825|68| ||||||||~37761|9,133| |6|Analysis ofexpenditure|on|charitable activities|||||| ||Staff &agency costs||||||1,063,179|986,714| ||Other running
costs||||||360,823|275,118| ||||||||1,424,002|1,261,832| |7|Analysis ofgovernance|and|support cost|||||| ||Staff costs||||||120,218|116,681| ||Audit and accountancy||||||12,890|12,103| ||Legal &professional||||||6,377|| ||Bank charges||||||880|886| ||||||||140,365|| |8|Nst Income /(expenditure)||forthe year|||||| ||This Isstated after charging:|||||||| ||Depreciation
-owned assets
Auditors
remuneration
for audit services||||||8,107
4,200|4,632
4,200| ||Auditors
remuneration|forother services|||||6,190|5,403| |9|Analyses ofstaff costs,|trustee||remuneration||and expenses, and the cost of key||| ||manaaemsnt
oersonnel|||||||| ||Wages and salaries||||||946,476|891,818| ||Redundancy||||||2,860|| ||Employers
national
insurance||||||77,822|69,899| ||Employers
Pension||||||17,572|18,384| ||Agency &sessional staff||||||141,527|123,294| ||||||||1,186,257|1,103,395| ||The average number of|staff employed|||during|the year||| ||were as follows:|||||||| ||Direct charitable||||||41|| ||Administration
&support||||||3|| |||||||||42| ## ## |||||Freehald|Offlce|| |---|---|---|---|---|---|---| |||||Property|Equipment|Total| |14|Tangible flxed assets|||f||f| ||Cost:|||||| ||At1Aprg 2022|||466,147|63,109|529,256| ||Additions||||5,381|5,381| ||At 31March 20Z3|||466,147|68,490|534,637| ||Depreciation|||||| ||At 1April 2022|||127,496|60,157|187,653| ||Charge In year|||4,661|3,446|8,107| ||At 31Marsh Z023|||~132157|63,603|195,760| ||Nst book value|||||| ||At31March 2023|||333990|~4887|338,877| ||At31March 2022|||~338651|2,952|341,603| |15|Debtars|||||| ||Amounts due within one year.||||2022/23|2021/22| ||Fee Debtors||||17,256|18,852| ||Prepayments||||9,638|5,980| ||Grant fee debtor|||||161,665| ||Other debtor||||2,400|| ||||||29,294|186,497| |16|Creditors|||||| ||Amounts
fsfllng due within ane year:|||||| ||Other taxatian &social security||||17,000|17,519| ||Other credhors &|accrusls|||66,424|44,672| ||||||83,424|62,191| |17|Deferred Income|||||| ||Deferred income comprise advance receipt ofnursery fees for|||2022/23.||| ||Balance as at 1Aprg 2022|||||| ||Amount
released to Income earned from charitable||activities|||| ||Amount
deferred|in the year||||| ||Balance ss at 31March 2023|||||| |||||||||2021/22| |---|---|---|---|---|---|---|---|---| |18|Analysts ofcharitable funds|||||||| ||Analysis ofmovement||In unrestricted||funds|||| ||Unr
rioted - Functional fixed assets||||reserve|||| ||Balance at|1April 2022|||||345,081|345,081| ||Movement|In year|||||(6,204}|| ||Balance at|31March 2023|||||338,877|345,081| ||U re
cted-
e
}res|||e:||||| ||Balance at|1April 2022|||||944,626|685,576| ||Movement|In year|||||89,497|259,051| ||Inter-fund|transfers|||||6,204|| ||Balance at|31Ivlsrch 2023||||||944,627| ||D
I nated-Staff
&ms||er|und:||||| ||Balance st|1April 2022|||||26,472|26,472| ||Movement|In year||||||| ||Balance st|31March 2023|||||20 72|| ||~Rn in~ss~r|||||||| ||Balance st|1April 2022|||||405,000|405,000| ||Inter-fund|transfers||||||| ||Balance at|31March 2023|||||IS00|405,000| ||Total|||||||I, 2.| |19|Analysis between fund||balances|||||| |||||||Unrestricted||| |||||||General|Desisnsted|Total| |||||||8|6|6| ||Tsn8ible fixed assets||||||338,877|338,877| ||Cash at bank snd In hand|||||1,094,457|431,472|1,525,929| ||Other
net|current assets/(liabilities)||||(54,130)||(54,130)| ## |20|Analysis ofRestricted|Funds|Funds||||||| |---|---|---|---|---|---|---|---|---|---| |||||||Balance|Incoming|Resources|Balance at| ||Funders name|||||1/4/22|Resources|Expended|31/3/23| |||||||6|6|6|E| ||Mlnlk Kardes||||||||| ||L8 IsBngton - Community||Links||||||| ||LBH Household
SupportFund||||||28,000|(28,000)|| ||18isgngton - GA P||||||||| ||L8 Islington - N E6||||||6,502|(6,502)|| ||L8 Islington - S F5C||||||||| ||L8 IsRngton -2year old Pilot||||||3,240|(3,240)|| ||LBIsgngton-38470||||||6,492|(srt52)|| ||LB lsgngton-bright
start||||||100,000|(100,000)|| ||LB lsgngton
family kitchen||pro)ect||||||| ||Hackney additional
restriction||||||||| ||Hackney
Learning
Trust -2year old||||||25,591|(25,591l|| ||Hackney
Learning
Trust - Children|||Centre|||79,052|(79,052)|| ||Hackney Learning Trust -||Headcount/5||F F||26,272|(26,272)|| ||Hackney FE||||||21,861|(21,861)|| ||Biglottery||||||157,160|(157,160)|| ||NHS Incredible
years||||||20,649|(20,64s)|| ||Grant aid||||||6,728|(6,728)|| ||Speech support||||||9,817|(9,817)|| ||Campsboume
school||||||1,000|(1,000)|| ||Other mlsceganeous||||||599|(599)|| ||Factory||||||||| ||LB Isllngton||||||523,447|(523,447)|| ||LB lsllngton:
SEN||||||3,220|(3,220)|| ||LB Isgngton: ETPR||||||4,708|(4,708)|| ||LB Isllngton: Miscellaneous||||||1,845|(1,845)|| ||Islington
Maternity||||||8,492|(8,492)|| ||LB Isgngton
Bright start||||||12,999|(12,999)|| ||LB isRngton 3-4year|olds|||||5.962|(5,962)|| ||Early years premium||||||2,142|(2,142)|| ||Grant aid||||||443|(443)|| ||||||||1||| |22|P(sandal commitments|P(sandal commitments|||||| |---|---|---|---|---|---|---|---| ||Total future|minimum|lease payments|under operating|leases:||| |||||||2022/28|2021/22| ||Within 1year|||||1,005|1,992| ||Within two|to five years|||||1,508| |||||||1005|3,500|