2023-03-31-accounts

Children’s Discovery Centre East London Trading as Discover

Trustees’ Report and Financial Statement For the Year ended 31 March 2023

"We recently went to this beautiful fun story centre and as you can see Ivy had a BLAST! (as did I ) she isn’t the best at sitting and listening to stories so I wasn’t sure how it would go but turns out it’s super interactive and there is soooo much to see and do! She actually sat for the longest she ever has in her life and enjoyed the animated book reading! Defo a must do for little Londoners!"

Charity Registration No 1070468 Company Registration No 03479284 (England & Wales)

CHILDREN’S DISCOVERY CENTRE EAST LONDON

CONTENTS PAGE

Legal and Administrative Information … … … … … … … … … … … … … … … … … … … … … … … … … … …	2
Chair’s Report … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	3
The Trustees’ Report … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	4 - 19
The Auditor’s Report … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	20 - 22
Statement of Financial Activities … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	23
Balance Sheet … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	24
Statement of Cash Flows … … … … … … … … … … … … … … … … … … … … … … … … … … … … … … …	25
Notes forming part of the financial statements … … … … … … … … … … … … … … … … … … … … … … …	26 – 37

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CHILDREN’S DISCOVERY CENTRE EAST LONDON LEGAL AND ADMINISTRATIVE DETAILS

Trustees Company Secretary Chief Executive Charity Number Company Number Registered Name Registered Office Telephone Fax Email Website Auditor Bankers

Alexandra Marks – Chair Amit Rama – Treasurer Andrew Murray (Resigned 30 November 2022) Graham Massie (Appointed 30 November 2022) Giorgia Stewart (Re-appointed 8 February 2023) Helen Whiteman (Appointed 30 November 2022) Joe Robinson (Re-appointed 8 February 2023) Oghenevese Aghoghovbia Siobhan Tighe (Appointed 30 November 2022) Vaseem Khan Victoria Dance (Re-appointed 8 February 2023) Karla Barnacle-Best (Resigned 31 March 2023) Rebekah Polding (Appointed 3 April 2023) Karla Barnacle-Best (Resigned 31 March 2023) Rebekah Polding (Appointed 3 April 2023) 1070468 03479284 Children’s Discovery Centre, East London 383 - 387 High Street Stratford, London E15 4QZ 020 8536 5555 020 8522 1003 [e-mail] www.discover.org.uk Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG National Westminster Plc 1– 11 Broadway Stratford London E15 4DX Beverley Building Society 57 Market Place Beverley East Yorkshire HU17 8AA Cambridge and Counties Bank Charnwood Court 5B New Walk Leicester LE1 6TE Nationwide Building Society Nationwide House Pipers Way Swindon Wiltshire SN38 1NW Charity Bank Fosse House 182 High Street Tonbridge Kent TN9 1BE Redwood Bank limited The Nexus Building Broadway, Letchworth Garden City Herts SG6 3TA Hampshire Trust Bank PO Box 74003 London EC2P 2QR

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Chair’s Report

2022/23 has been an important year for Discover. With the immediate pressures of lockdowns passed, it has been a time to reflect on our values, bring in our pandemic learnings to our operation and lay strong foundations for our next chapter as we come of age entering our third decade.

During this year, the charity has welcomed new board and local Children’s Forum members, improved its visitor operations with a new approach to peak and off-peak sessions and delivered an extraordinarily rich array of creative literacy experiences. Our exhibition The 100 Story Hotel has delighted nearly 45,000 visitors and our events range from a week of author and illustrator visits for May half term to the pan-borough Newham Word Festival, a drop-in Easter trail based on We’re Going on an Egg Hunt by Laura Hughes to the Fabula festival in Redbridge. We have also maintained our support for libraries with over 25 free events across our own and surrounding East London boroughs.

We are proud that our work strives to represent the many communities of Newham and to champion diversity and inclusion. The 100 Story Hotel visually depicts an ethnically diverse range of children. Our next exhibition (opening 1[st] April 2023) is being created with best-selling illustrator Dapo Adeola who creates graphics that challenge race and gender stereotypes. 50% of the creatives contributing to 0-3’s storytelling were from minority ethnic backgrounds and one artist was disabled. A wide range of diverse books are circulated on the Story Worlds and promoted online as Book of the Month.

Our work is rooted in Newham and we aim to provide both practical support and inspiration for our local community. We have ensured access to the centre for those most in need via our free ticket schemes, which are operated in partnership with local charities and community groups. 10,487 free tickets were taken up this year, with a big increase in usage over the autumn thanks to a successful flier distribution via libraries. We are pleased to have found such an effective way to reach Newham residents and will use this learning to continue to strengthen the scheme and widen participation.

Overall, the year shows how fantastically Discover has reconnected with its communities and the strength of the organisation. The Story Centre received just over 97,000 visitors – 92% of 2019’s pre-pandemic figure – with another 696 audience members at festival events offsite, and 14,900 viewers of digital content. To our delight, we exceeded targets in all key activity areas - visitors, schools, fundraising, events, hires and parties – as family audiences craved re-connection and staff worked hard to ensure our wonderful storytelling and interactive play experiences reached as many people as possible.

With this happy return to our previous levels of audience engagement and alongside prudence in our operations management, we achieved savings in our staffing and delivery costs of £47,687 against budget. Our activities generated a surplus above budgeted levels of £65,212. Less happily however, unrelated business failures for one of our three tenancies created a loss of £156,148 such that our net financial position for the year is a loss of £2,565 which has been covered by reserves. The Trustees have taken a robust approach to managing the risk that tenancies present to protect Discover from any future losses and have also reviewed and amended the reserves policy for 2023 onwards to reflect the need to recoup this loss by generating annual surpluses through our core activities. We remain confident in the resilience of the organisation and the importance of its vital work.

I would like to thank all the trusts, foundations and businesses that provided support during 2022/23; Arts Council England and Newham Council for their continued commitment as well as BBC Children in Need, Garfield Weston Foundation, Greater London Authority (Royal Docks Team), Kusuma Trust, Man Charitable Trust, National Lottery Community Fund, Paul Hamlyn Foundation, Redbridge Arts Grants, Veolia Environmental Trust and Wolfson

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Foundation. I would also like to thank Winkworth Sherwood for their invaluable pro bono legal advice. Finally, I should like to thank the many public and private agencies that work in partnership with us.

I am grateful to everyone who has supported us this year including partners, teachers’ forum, children’s forum and of course our visitors. I would like to take the opportunity to thank my colleagues on the Board, as well as all our staff for their hard work, commitment, and skill and in particular, CEO Karla Barnacle-Best who steps down this year after eight years of superb leadership. We look forward to continuing to enable the broadest possible range of children and adults to engage with, create and enjoy inspiring stories through imaginative play.

Alexandra Marks CBE Chair

Objectives and activities

Summary of Objects as set out in the Memorandum and Articles of Association:

to promote, maintain, improve, and advance public education in the arts, sciences, humanities, and technology, in particular by the provision, promotion, and maintenance of facilities and amenities for the education of children, young persons, and their families, and to relieve poverty, in particular by providing or assisting in providing recreational or other leisure-time facilities and amenities for children and young persons and their families.

Vision, aims and services

Our vision:

A world where confident, thoughtful, articulate children grow up to shape a better future for all.

Our Mission:

We are an inspirational cultural resource, rooted in Newham, one of the most diverse boroughs in the country. The richness of experiences and ideas that this brings is something that we want to embed and share through excellent artistic, creative, play and learning experiences with and for all children to support their imagination, curiosity, and expression. We are committed to celebrating the artist in every child and promoting access to the arts for all children regardless of ability or socioeconomic status. We believe stories are critical to child development; they can transform lives and shape strong and vibrant communities.

Our Values:

• Imagination – to inspire new ideas about how things can be Inclusion – children and adults feel welcome, valued, and involved Activation – supporting everyone to feel energised, enriched, and capable Wonder – celebrating the importance of joy and playfulness

Charity category

• Education/Training

• Arts/Culture

• Economic/Community development/Employment

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Charity Act 2011 classifications

• The advancement of education

• The advancement of the arts, culture, heritage, and science

Services

To achieve our objectives, our services include:

• Immersive story-based settings to explore at Discover Children’s Story Centre with two floors of Story World, a Story Garden, a large-scale interactive exhibition, a story telling space and an events space.

• Inclusive hands-on creative family and schools’ events and sessions which are developed and delivered in collaboration with our storybuilders, authors, illustrators, and artists and guided by children, parents/carers, teachers, and our partners.

• Dynamic creative learning programmes in early years settings, primary schools and out of school opportunities.

• External programmes delivering high quality family arts events in public community spaces.

• Range of digital activities that help us to engage with vulnerable individuals and groups and to widen access in general.

• Catering for children and their families. Seeking wide engagement by ensuring our programme speaks to and is reflective of the local community, is accessible, and offers targeted reduced price or free opportunities. Contributing to key cultural, educational, and social developments and agendas.

• Ensuring Discover is resilient and sustainable and is a responsible London Living Wage employer.

History

Background

Discover was established by a group of east London community leaders, educationalists, and local parents in 1997 to develop a hands-on learning resource for children and families. Discover was registered as a charity and limited company in 1998. Supported by Arts Council England and the London Borough of Newham, the Story Centre opened in 2003 and was the first children’s museum in the UK to focus exclusively on stories and children’s literature. 1,486 square metres of the building is leased to a nursery and two training organisations.

We completed a £1 million capital project in 2016 delivering wonderful new Story Worlds on two floors, a dedicated story telling space for 0-3’s, refurbished events and party rooms, spacious new café, and improved reception area and shop. This was followed by a second phase capital project in 2019 which included deepening engagement by installing additional equipment to enhance the learning and creative play elements on the Story Worlds and improving learning facilities for disabled and SEN children. In summer 2021 we completed an exciting and enchanting re-development of our Story Garden.

Case for need

It is important to celebrate the incredible vibrancy and creative assets of the young, culturally diverse, transient -economic, challenges. East London has seen the highest increase (16%) in London’s population over the past 10 years. The two highest rates of children living in poverty are in our home borough of Newham (50%) and our neighbouring borough of Tower Hamlets (57%), according to the London Poverty Profile 2020. Newham has the second lowest cultural engagement in London (Active Lives Survey published 2018) with disadvantaged children affected most by the been significantly affected by high numbers of cases of Covid-19 and no doubt the effects of this will be felt in ways that are not yet reflected in the above data.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Surveys have found a strong link between poverty and lack of participation in the arts. As family and public resources become tighter, this will mean that children growing up in low-income households will have even less of informa

Despite facing these multiple disadvantages, children are achieving above the national average in their end of Primary School SATS tests. We will respond to schools’ needs and pursue co-creation opportunities, building in flexibility as usual to enable schools to take up any offers.

Newham is a borough that has been through an extraordinary amount of change over the last few years, much of which is ongoing. One of the significant factors is the vast number of new homes that are being built in the area, particularly within Stratford and around the site of the Queen Elizabeth Olympic Park . This not only brings a greater density of residents but will also ultimately result in a changing demographic. Alongside affluent communities with greater disposable income, there remain longer established communities, as well as transient communities, who are alienated from much of the prosperity and opportunities of their new neighbours. Responding to the needs of all sectors will be important in the forthcoming years.

Review of activities for period ending March 2023

Impact of Covid-19

Whilst lockdown restrictions did not formally affect business in 2022-23 the impact of the pandemic has still been apparent at Discover, including as a prompt to some positive organisational changes.

Re-setting and cleaning regimes in the Story Worlds and exhibition have been adapted in line with the relaxation of government guidelines, whilst maintaining the high standards our visitors rightly expect. The return of craft materials to the

spoon trees was particularly welcomed by both visitors and staff. Covid-19 floor stickers for social distancing and directions have been removed, but all sanitary stations have remained.

Restricting our visitor numbers in 2020-21 due to COVID-19 restrictions was difficult operationally and financially. However we recognised some benefits to being able to control visitor numbers to prevent overcrowding, and in consequence introduced a new ticketing model for visitors. Whilst Monday – Friday off-peak tickets allow visitors to stay as long as they like during opening hours, at peak times (weekends, holidays and bank holidays) we now operate with two separate sessions per day with maximum 300 visitors for each.

During lockdown, we instituted a range of digital programming to maintain contact with audiences. Audience response to these was hugely positive, especially amongst our Special Educational Needs (SEN) family visitors. As people have returned to in person interaction however, audience numbers for our digital storytelling have dwindled. We have therefore discontinued the long-form digital story offerings and are working with audiences, storybuilders and marketing team to find the best ways to use our learnings about how to share Discover’s practice digitally in a way that works for post-pandemic audiences.

All other programmes, including festivals and the Mighty Mega programme for disabled children and their families, have returned to IRL (‘in real life’) delivery.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Overview

2022/23 was a transition year between our 2018-22 and the 2023-28 business plans towards which we have been working.

Our four priorities for the year built on our previous strategic framework and reflect Arts Council England’s Investment Principles:

• Relevant and responsive to the needs of Newham community supporting an inclusive, community recovery from Covid-19, particularly those people with limited access to cultural participation.

• Create thoughtful, ambitious, high-quality work.

• Maintain a dynamic and evolving business model that supports the future of Discover balancing ongoing stability with change-making investment.

• Support environmental sustainability through internally and externally promoting best practice, and encouraging awareness of, and dialogue around, climate emergency.

1) Relevant and responsive

Objective 1: To engage with, listen to and reflect the local community at all levels of the organisation.

Why? Supporting an inclusive community recovery from Covid, addressing the limited access to cultural participation faced by disadvantaged and vulnerable children and families across the borough.

Activities:

• Our Children’s Forum is made up of children from Newham schools, years 3 -6, maintaining the strong voice of local children in our governance. This year the Forum has trialled and offered feedback on our new school workshop for The Box Rocket Exhibition , contributing to the creative developed of session plans and activities. Additionally, they designed and created original planets for a Galaxy Chart that will feature at the entrance to the Exhibition. All Children's Forum families have been invited to The Box Rocket VIP Launch. Board members and senior staff attended Forum sessions to get advice and feedback on policies and programmes.

• The Teachers’ Forum met three times across the year and provided consultation and information gathering opportunities for the Community and Education team. These Forum meetings are an opportunity to consult them about programmes and processes and listen to their needs.

• Feedback from visitors via surveys and online sources (Instagram, Google Business etc) is collated and disseminated on a weekly basis for discussion and action, and our daily debrief includes a section for staff to report and record any verbal feedback from visitors for discussion and action.

• 27 events in Newham Word Festival 2022 were commissioned from local artists and organisations.

• All jobs in Discover’s Operations team are advertised locally via Job Centres and Indeed.

Objective 2: Programme work which challenges stereotypes and promotes diversity and inclusivity. Keep the needs of the local community at the forefront of priorities and decision making. Prioritise co-creation with, and taking work out to, east London organisations, venues, and schools.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Why? To address the need for creative responses to social and learning challenges within schools and society. To address the lack of representation of ethnically diverse people, disabled people, and LGBT people within children’s publishing.

Activities:

• We have continued to promote a wide range of stories and storytellers across all our activities, including the books on our Story Worlds and Book of the Month selections promoted online. Our bookshop promotes an inclusive array of children’s literature and helps readers find books that represent and inspire them.

• 50% of creatives contributing to 0-3’s storytelling were ethnically diverse and one artist identified as disabled. In our job adverts, we continue to welcome all structurally disadvantaged groups.

• We delivered four well-attended masterclasses aimed at KS1 and KS2 teachers over September – December. The September workshop on Sensory Storytelling with Moulded Theatre Company, followed by Creative Writing, Wellbeing and Diversity in Children’s Literature.

• Our philosophy is to include diverse stories across all our work rather than for one-off occasions. We do also, however, work with partners to mark specific events and ensure that communities can find their stories and interests represented. This year this has included:

• For Untold Stories from Black History for 6+ (funded by and part of World Reimagined): storytellers Helen McDonald and Paula David told stories of black people and their presence in British history from Tudor England to Windrush, from World War I to Notting Hill Carnival. These workshops took place at Discover, and in Newham libraries

• Half-term external event Royal Parade - a storytelling performance themed around leadership and learning - was toured around six Redbridge Libraries. This performance, based on West African and Japanese folk tales, was devised by storybuilder, Laura Sampson. It was delivered to smaller audiences in local libraries, and to many families in Redbridge Central Library.

• In early November we curated storytelling with Laura Sampson as part of Vision Redbridge’s Day Of The Dead celebrations at Wanstead Library.

• We ran a day for Fun Palaces which included: paper lantern workshops led by Pavilion Workshops for 5+. This was based around the Chinese festival calendar - with artists Rebecca Strickson and Emma-Lee Moss. We also delivered Map Of Me as part of Newham’s Fun Palaces at Stratford and Plaistow.

• We delivered Best Worst Day Ever in Stratford Library as part of the Christmas Lights switch-on: with additional deliveries with Newham Libraries for National Storytelling Week, Mental Health Week and World Book Day.

• Discover held a sold-out Drag Story Time session to mark Pride month (June 2022). One direct message on social media raised an objection and a number of news outlets contacted the organisation in hope of finding controversy, but overall, the event was a great success and one that will be added to regular programming.

• Our author event with Anna Orenstein-Cardona ( The Tree Of Hope ) in late November at Discover went well. It was good to see a diverse mix of audience members including many LatinX patrons. Reaching this new demographic, it was promising to see lots of first-time visitors.

Objective 3: Newham residents at the core of our strategy to support access for those people who may not be able to easily access creative offers.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Why? Covid-19 lockdowns further exacerbated an already prevalent imbalance of opportunity for children to play, learn and develop. Key guiding principles to address this are simplicity to access, regularity of offer, and where possible ongoing opportunity.

Activities:

• With funding support from Newham Council, we allocated 4,500 free tickets primarily for targeted Newham families, accessed through partnership with organisations with which they interact e.g. foodbanks, community centres, voluntary groups, health, and wellbeing practitioners etc. Usage of our charity and community groups’ free ticket offers increased significantly over the autumn thanks to the team contacting the groups with reminders and sending additional flyers.

In addition, we provide free access to a range of different partner groups:

  - After School Stories provided free entry to Newham school children and their adults on Monday afternoons (funded until December 2023). Books and free passes are also given out to increase impact.

  - Free annual passes for Mighty Mega and Story Sandwich as part of the project funding.

  - Free tickets for children and their families participating in creative wellbeing programme.

  - Happy Baby Community which supports women with children who have fled from violence or traffickers hire rooms 2.1 & 2.2 every Thursday. As part of the arrangement, these participants are free to explore the centre.

  - Carers continue to come free as part of supporting access.

  - Babies 0-12 months are also free and 1-2 year olds are at a reduced price of £3.

• With funding from Newham Council and Arts Council England, we curated and delivered Newham Word Festival, a fantastic programme of free events over a two week period at the beginning of July across the borough for children, young people and adults. This featured established headliners such as Ben Okri and Lemn Sissay as well as new and emerging talent, and a strong representation of Newham artists and organisations.

• Our work in libraries is another important strand of our work to provide free access to creativity, inspiration and story-telling. This included work in Newham, Redbridge and Tower Hamlets, all delivered free for attendees. Examples include:

• A one-off library event at Stratford Library with Jim Field and Rachel Bright in mid-October. This was to celebrate the launch of The Gecko And The Echo . A schools audience of approximately 130 young people attended.

• Two new projects were developed in Autumn for Redbridge Libraries. The first is a jubilee themed event and the latter is from The World Reimagined, a national initiative bringing together different creative responses to the transatlantic slave trade and how the country is today.

• As the cost of living continues to bite, we are training the VSA’s (Visitor Support Assistants) to promote our pay-monthly annual pass to spread the cost for visitors

• Afternoon Exhibition sessions are now offered to schools in addition to the morning slots, which allows us to host more schools before the end of this academic year.

• Our partnership with Magpie on the Story Sandwich project to support local homeless mothers and children with weekly bespoke sessions led by two regular storybuilders continues to be well attended. Additionally, we are now able offer a regular storybuilder to attend Thursday morning sessions at

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Discover with the Happy Baby community group, delivering 30 minutes of guided play and story-telling once a month.

• Our Saturday morning Mighty Mega club for children with special educational needs and their families recommenced in January with a new art organisation, Artburst, delivering fully attended sessions each Saturday morning. In the summer term, the group was led by arts group Paracarnival, leading up to a planned excursion to Hackney Carnival that seven families signed up to. This was however cancelled as a mark of respect on the death of the Queen. In autumn, artists from Artburst explored sensory storytelling with families. Story-teller, Paula David, (who also works as a storybuilder at Discover) then ran a ten-week term focusing on Folk Tales. Mighty Mega members are also invited to a relaxed performance of The Box Rocket when it launches in April.

2) Thoughtful, ambitious, high-quality

Objective 1: Offer a multi-layered approach for visitors to engage in interactive creative experiences.

Why? Under-served community – local, ethnically diverse, lower socio-economic community, different abilities.

Activities:

• Our new large scale inter-active exhibition featuring work of Rob Biddulph, The 100 Story Hotel , delighted visitors across the year, with 44,196 visits. The 100 Story Hotel visually depicts ethnically diverse range of children and maintains our hands-on approach, with a range of interactions designed to suit a range of ages and learning styles and to support creative literacy goals for early years, KS1 and 2.

• We also designed and built the next exhibition for 2023, created with best-selling Illustrator Dapo Adeola who creates graphics that challenge race and gender stereotypes. We also brought on board a writer whose work also champions stories about characters from global majority backgrounds, Tola Okogwu, to help bring the overarching narrative together In . The Box Rocket was launched with a Family and Influencer event on 31[st] March and is on track to be our best-selling exhibition ever.

• Z Arts, our partner arts centre in Manchester, have extended their run of our previous exhibition Fairy Tales and will then exhibit The 100 Story Hotel in 2023, extending the number of children and families who will enjoy these interactive worlds and maximising their public value.

• In early October, we programmed and delivered Redbridge Fabula Festival. This included two school events (including new Fab Prize winning author Janelle McCurdy at Hainauit and Keith Axon libraries), and a livestreamed event at the Kenneth More Theatre with Children’s Laureate Joseph Coelho. For the family day, we delivered events with author Viola Wang, comic book artist Ramzee, some street circus with Nearly Theatre Yet and stories from our internal and outreach programme, The Best Worst Day Ever. We had Story-telling and Craft (collage) for 4+ with Michael Catchpool, and inspired by ‘ SuperJoe – superhero in the making’ . There was also a drop-in Halloween trail where participants picked up an activity sheet from reception, and followed the trail around story worlds. This was created by students of the Advanced children’s book illustration: professional practice course at City Lit.

• The Mixed Emotions installation was open to visitors from 24th February - 12th March in the 0-3’s Storytelling Space. It featured poems written by pupils who took part in the Creative Wellbeing project in schools and celebrated their achievements. Participating children were offered free tickets to visit Discover with their families

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

• May half term was incredibly busy this year, with author events taking place almost every day. These The Boy Who Grew a Tree by Polly Ho-

• Through the Forest My Must-Have Mum What Makes a Lemur Listen by

• Sam Langley- The Museum of Marvellous Things by Kristina Stephenson. We also welcomed in Coppice Theatre with Science Adventures.

• During the Easter holidays various events were held at the centre, including The Girl and the Dragon , by the Suitcase Storytelling Co and the hugely popular Lemn Sissay and Joe Coelho. An Easter bunny trail was installed throughout the story worlds, which consisted of an anagram to solve, with a prize at the end. The drop-in trail, developed around We’re Going on an Egg Hunt , by Laura Hughes and published by Bloomsbury, proved to be extremely popular with families. We were also thrilled to welcome Rob Biddulph for a day of book signings and a special event around his hugely popular Draw with Rob activity on Saturday 7 May.

• Over the year, we devised three new 0-5s story-telling pieces. The Best Worst Day Ever , based on the book , was directed Naomi Cortes, designed by Hannah Sharp and developed with two storybuilders. It is about a little boy coping with his own temper. Not Yet A Yeti , about finding courage to be different, sold out throughout the run. Waiting for Goliath by Antje Damm – our first piece adapted from work in translation – was a wonderfully sensory piece for 0-3s directed by staff member Aaron Lamont.

Objective 2: Explore new ways of working: Investigate opportunities that digital technology offers, find ways to promote remote interaction and engagement, and ensure it can feed into our business model and be properly and realistically supported.

Why? Covid-19 highlighted the number of vulnerable people who are isolated. It emphasised that for many reasons including personal circumstance, travel difficulties, care responsibilities or geographical limitations, not everyone can get to Discover. Digital output was a way of keeping in touch with families and member groups during lock-down, and was an important, inclusive strand of hybrid delivery of the Newham Word Festival 2021.

Activities:

• Our online story sessions were developed during the pandemic and were hugely popular with families, especially with families from our Might Mega group. It became apparent across 2022-23 however that appetite for long-form digital experiences had dropped dramatically, such that videos received a mere handful of views instead of hundreds. We have therefore adapted our practice with shorter content on TikTok which has been well received and will continue to review and evaluate how best to use the online space.

• We expanded our advertising programme for exhibition The 100 Story Hotel in order to wide our reach across London and improve our use of digital: we booked Discover posters on escalators at Camden Town, Highbury and Islington and Kentish Town stations, large 6-sheet posters at Walthamstow Central, Stratford and Bethnal Green stations, and complemented this promotion with paid digital campaigns on Google Adwords, Facebook and Instagram.

• Our storybuilders received a (paid) training session at the end of February, giving them the opportunity to explore best practice in story-telling approaches for 0-5’s. Feedback was hugely positive: “I learnt a lot ctics as well as from Diana - specifically looking

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

storybuilders when in pairs etc. and hearing about different things they've tried and what spaces/times are best for e.g. travelling a story.”

• We established a partnership with University of East London Baby Development Lab to share experience on child development, with a project exploring how babies and children experience our exhibition. Families with 0-3s or 4-8s were invited to attend free sessions; cameras and heart monitors were put on the babies and children, with the storybuilder also wearing a camera and additional cameras in the space to record what happens during a session. Initial results have been astonishing, with video footage showing how babies are actively engaging and learning from their experience, and we look forward to learning more as the partnership progresses.

• Our Head of Marketing joined Spektrix for a presentation on building a website with great booking integration at this year’s Arts Marketing Association conference in Birmingham. Spektrix had selected Discover’s website as an example of best practice, and we told the story of its creation and shared some of the impressive data demonstrating its success.

Objective 3: Create robust internal and external evaluation and learning processes.

Why? Area of improvement in recent years through Spektrix, social media analytics, audience finder etc. We evaluate schools work through feedback forms completed by teachers, visitor views through online questionnaires, social media feedback and dialogue, and project partner and participant feedback through verbal and written feedback. We use this alongside internal evaluation to help us develop and improve Discover’s work. However, we feel that it is important to review how our evaluation processes could be strengthened so we can better monitor impact.

Activities:

• We have worked with Renaisi to help us develop a self-evaluation framework that has been rolled out in 2022/23, and embedded within our new Community and Learning strategy.

• We have added two questions to our ongoing post visit survey around engagement with stories – one from the parent and one from the child’s perspective. This helps us evidence directly the levels of inspiration the centre is providing, in line with our new strategy.

• We undertook a website audit to make sure that our site was still operating in the best way possible. The main takeaway was that we have a much higher than normal percentage of mobile phone visitors and converters (i.e. those who complete a purchase) – and with that in mind, spent some time and money on upgrading the site’s mobile functionality to ensure finding content and buying tickets is as smooth as -

• shouty’ pop-up function to let people know which days their visits might be effected by a school in the centre. This seems to have already reduced the number of complaints and improved the visitor experience.

• New tablets were installed at café and reception allowing us to have a third Spektrix for viewing sales, and electronic staff logging for fire evacuations. Backup payments systems are now with Square which also allows us to sell at offsite locations. There are also quick links to sites like Transport For London so we can assist visitors with route planning etc. A third tablet is being used as a mobile device to log maintenance jobs and to check in events.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

We have met quarterly with the CEOs of Story Museum and Seven Stories to share industry information and insights, to disseminate and learn from organisational impact research and evaluation, and to explore future creative collaboration and measurement of quality.

3) Dynamic and evolving business model

Objective 1: Test, review and evolve earned income generation strategies.

Why? Pre-Covid we earned 70% of our income through schools and family visits, rent, and ancillary income such as café, retail, parties, hires and contracts. A further 23% of income was through trusts and foundations and individual donations, with 5% from ACE and 2% miscellaneous. With Covid creating significant periods of lockdown these levels have changed, with a greater reliance on subsidy from trusts and ACE. We acknowledge the competition for funding and need to return to the pre-Covid balance of income segmentation through 2022/23 and beyond.

Activities:

• Three new Board members with expertise in organisational management were appointed to support the organisation in managing and developing its business strategy. Following a hiatus during the Covid-era, when the whole Board met regularly to review finance, the Finance Committee has been (re-)established with agreed Terms of Reference and the participation of these new Board members.

• We have had to increase prices on most items in the café due to the rising cost prices. This is under constant review to ensure profits do not slip and we are making the most of special offers from our suppliers. A review of the range is underway to improve customer satisfaction. The café is also now vegetarian, with vegan options and offers ‘ Hootah snack boxes’ and an ‘ Astronaut’ meal deals for kids.

• Room hires are picking back up post-Covid, but it seems unlikely to ever return to pre-pandemic levels as people have become accustomed to online meetings. We have secured a regular hire from charity Happy Baby every week, which is a good fit for us.

• The new style of birthday party focusing on play has proved a huge success. Sales and future reservations in this financial year are above target. Added to these, sales of party bags are growing.

• Sales in summer started off slower than usual, likely a combination of factors including the hot weather: things picked up significantly once it started raining! Reports from the rest of the sector were that visitors were down 50% across the board and last-minute ticket buying was becoming the norm. We were seeing less of a drop than that, with visitors roughly similar to last year, but we have seen a notable increase in last-minute ticket buying. In response, we have upped our social media advertising and have had great success with Google Ads and Meta (Facebook and Instagram), bringing in £2,792 worth of online sales for £196 of spend on Google ads.

• In the shop, the cost-of-living issue is definitely having an effect on customer purchases. More lower price items are appearing in the top-selling lists. We are responding to this by having more small items available, so a good selection of bouncy balls, dino and unicorn eggs etc. We so continue with some bigger ticket items still and our new range of quality hand puppets with a range of ethnically diverse characters seem very popular.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

• Baby Story-Telling and Space Adventures (storybuilding for older children) – both offered free to visitors - had proved to be excellent models which were being brought back in whilst the next 0-3’s story telling event is being created. This sort of flexible offer is greatly beneficial for maintaining the visitor offer.

Objective 2: Secure consistent levels of income from trusts and foundations and grow income from individual donations.

Why? Ensure Discover’s sustainability as a charitable organisation.

Activities:

• Discover’s charitable status has been made more apparent to visitors, with a large-scale display and invitation to contribute (cash or cashless) in reception. Staff have reported positive visitor feedback, with many visitors commenting that our charitable status and outreach activities were not known to them. Combined with the improved flow of the new website to enable ease of ask to visitors, we achieved a stronger than usual figure for individual donations of £12,890.

• We are thrilled to have been retained by the Arts Council as one of their National Portfolio Organisations, receiving an annual contribution to core costs of £95,597. We are delighted to have the importance of our service to children and families recognised as an important contributor to England’s cultural sector and to be able to leverage further value from this award through further fundraising.

• We have maintained our relationships with a strong and supportive group of funders, including BBC Children in Need, Garfield Weston Foundation, the Man Charitable Trust and Paul Hamlyn. New funders to Discover this year include the London Legacy Development Corporation, Royal Docks

Objective 3: Invest expenditure imaginatively and with a values-based approach to support the principles underlined in our aims.

Why? To match our business model and our values for the benefit of all who work with us.

Activities:

• We have invested in a new support service for all staff, Care First. This provides help, advice and support to any staff member including counselling and legal advice. Staff have welcomed the service and we will continue to promote this new staff benefit. We have also taken on an external HR company, PACE HR, to provide better support in this area and further support staff well-being.

• After careful review, staff salaries will be increased by 7.5% for all staff except the Senior Management Team, who will receive a 5% increase in 2023-24. This has required an increase in core ticket prices which has been agreed at lowest possible level to keep Discover as accessible as possible. The price rise is matched by continued focus on delivering free tickets via our charity partners.

• A workshop discussion around Equity, Diversity and Inclusivity was held in early September. All staff were invited to attend. We had a good turnout (approximately 67%) and engagement levels from all present were excellent. It was an opportunity for staff to raise questions for management and offer feedback and future recommendations.

• The Chair and Board members have received training in the four Investment Principles set by Arts Council England and worked together on how to engage, advise and ensure accountability to best effect. All Board members have met one-to-one with the Chair, and have attended a wide range of events at Discover including Children’s Forum, Might Mega and Story Sandwich.

• Two new policies have been reviewed and agreed by the Board: Complaints, Compliments and Comments and Volunteering.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

4) Environmental sustainability

Objective 1: Set up processes to examine and implement best practice across the organisation in areas such as procurement.

Why? Discover has built promotion of sustainability into its operation. This has included building sustainable elements into the fabric of the building such as movement sensitive lighting, re-using elements of set within exhibition builds, using compostable materials within the café etc. Most recently we have changed our electricity supplier to a renewable source. We have massively reduced our printed marketing output and worked with Children’s Forum to help raise customer awareness. However, we need to consistently keep ways of improving practice as live issue.

Activities:

• An environmental action plan has been created to accompany the environmental policy, with a dedicated staff working group established to design, deliver and monitor this work. Scope includes current operations (reducing waste in the café, minimising paper usage) through creative programming (choice of positive stories about the environment for Story Worlds) to longer term ambitions (LED lighting, solar panels, garden space for green storybuilding). The Board have appointed an environmental policy lead to oversee and support this activity.

• The Community & Education team have been working with storybuilders to devise a new school workshop for The Box Rocket exhibition, themed around reusing and recycling. SEN schools will take part in an accessible and sensory workshop themed around planets, stars and exploring space. Storybuilders are currently being trained for the delivery of these workshops and we already have many bookings for Exhibition schools’ sessions until the end of this academic year.

• We also took GROW, a previous 0-3s show, out to Rich Mix in Bethnal Green as part of their free family Sundays. Families watched the show and planted their own seeds in decorated biodegradable pots. This is a lovely community initiative, and we plan to partner on a long-term basis.

Priorities 2023/24

• Discover is open to all children and aims to balance its rising profile across London with the commitment to its local community, evidenced by reduced price entry for all Newham residents throughout the year and targeted free tickets, distributed by partner organisations within the borough, to help us reach families with reduced socio-economic access. We will also continue to provide other free access opportunities during the year through after-school free entry targeted at local primary schools, Mighty Mega and Story Sandwich.

• We will respond to the rapidly changing demographic of the area by working with Newham’s Community Wealth Building strategy, the Queen Elizabeth Olympic Park and the Royal Docks developments.

• We aim to improve access within the centre for disabled and SEN visitors, including continuing Mighty Mega sessions and increasing the number of British Sign Language signed events to one per month. We will continue to seek feedback from all our visitors as to how we can improve their experience and make the centre a welcoming space for all.

• We will open The Box Rocket exhibition and programme a wide range of supporting events, continuing to focus on providing a platform for emerging talent and those from structurally disadvantaged groups.

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

We will deliver a lively of programme of 0-5’s immersive story-telling events.

• We shall continue to work with our Teachers’ Forum to ensure our schools’ strategy remains relevant. We will grow the number of schools session we can offer by opening up afternoon slots once again, and ensuring we have a dedicated SEN offer with trained storybuilders confident and sensitive in working with SEN groups.

• We will continue to explore our digital offer as a way of increasing access and using technology to inspire new creativity.

We will deliver the fifth year of Newham Word Festival at the beginning of July 2023.

• We are programming and delivering the children’s strand of Fabula Festival for Vision Redbridge Culture and Leisure.

• We will work with community partners and funders to create targeted programmes which deliver on the needs of local people across East London and support interest communities from London and its surrounding area.

Structure, Governance and Management

Discover is a company limited by guarantee governed by its Memorandum and Articles of Association. It is registered as a charity with the Charity Commission. The Board of Trustees is responsible for the direction and management of Discover. It is elected by members. Membership of the charity is open to any individual who supports the aims and policies of the company and is approved by the Trustees.

The Board has overall responsibility for the strategic control and direction of Discover with day-to-day management delegated to the Chief Executive. Discover’s Board is elected by members at its AGM. The Board currently meets bi-monthly.

Discover’s Articles of Association state that the Board must consist of between 3-20 Trustees. Current Board membership includes Trustees with skills and experience in business, education including SENCo, finance, fundraising, human resources, law (including property), PR and communications, regeneration, stakeholder engagement, and writing.

New Trustees receive the most recent Annual Report and Audited Accounts, the latest set of Board papers, and the current Business Plan. During the year the charity provided indemnity insurance for its Trustees.

Discover Management Team	Discover Management Team
Chief Executive	(0.8)	Karla Barnacle-Best
Deputy Chief Executive	(1.0)	Paul Callaghan
Finance Director	(0.6)	Mary King
Head of Development	(0.8)	Kathy Everett
Head of Learning	(1.0)	Charlotte Métairie
Head of Operations	(1.0)	Richard Smith-Gore
Head of Marketing	(0.8)	Jessica Ziebland
Head of Creative Events (0.6)		Natalie Chivers / Caroline Jeyaratnam – Joyner (from November 2022)

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

Discover’s remuneration policy states that key management salaries are determined through consideration of our financial position and constraints as well as testing against the wider market. Salary levels are initially agreed by the Finance Committee, which then makes a recommendation for approval by the Board.

When necessary, the Board also establishes working groups or offers additional support on specific areas, e.g. capital projects, governance, fundraising and website development.

Public Benefit

We have referred to the advice in the Charity Commission’s general guidance on Public Benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set. This includes a review of the Commission’s guidance on public benefit and fee charging. Discover relies upon grant income and fees from admissions to cover its operating costs. In setting the level of admission prices, the Trustees consider the accessibility of the Centre to those on low incomes. Admission is heavily subsidised for both schools and family visitors. We seek to provide several free days for local families each year as well as free entry to targeted groups via specific projects and offers.

The Story Centre is used by families and community groups during weekends, school holidays and after school. During term-time, school groups from Foundation, Key Stage 1 and Key Stage 2 visit Discover and have structured sessions led by storybuilders, which are designed to support key skills such as language, literacy, creative, social, and personal development. Many of our beneficiaries come from the six east London boroughs which represent some of the most disadvantaged communities in the UK.

Financial Review

In 2022-23 Discover’s total income was £1,812,053 (2021-22: £1,634,323). This represents an 11% increase from the previous year. The revenue comes from a variety of sources including earned income from admission fees and rental income from sub-letting space. Income also comes from grants, from trusts and foundations and commissions from a variety of sources to deliver specific services. The total expenditure in the year was £2,199,356 (2021-22: £2,071,948). The overall general unrestricted fund position has decreased by £2,565 with a fund balance at the year-end of £480,392 (2021-22: £482,957).

Fundraising

• We are committed to ensuring that we are completely open about our fundraising and spending and follow the Code of Fundraising Practice.

• We undertake fundraising activity to our supporters via formal applications, direct mail, and direct contact at events, which is managed by the Centre’s Fundraising Coordinator.

• We do not use any third parties to assist with raising funds and have had no complaints during this financial year.

• We did not receive any complaints with regard to our fundraising activity in the year.

Financial Sustainability

Total visitor income was £919,117 (2022: £644,289). This represents a 43% increase from the previous year. Our earned income for the year was £516,877 (2021-22: £377,758). Grant income was £311,479 (2021-22: £574,055). The prior year grant figure was exceptionally high due to the special support during the Covid-19 pandemic.

Reserves policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (the free reserves) held by the charity should be equivalent to at least three months of expenditure. On 31 March 2023 the free reserves of the charity were £480,392 (2021-22: £482,957). Our budgeted

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

expenditure for 2023-24 is £1.9 million. The reserves represent 25% which is equivalent to 3 months’ expenditure.

Investment Policy

The Trustees have considered the most appropriate policy for investing funds and in the current economic climate they felt it prudent to spread the cash across six savings accounts with different degrees of accessibility to maximise interest.

Risk Management

The Trustees have a risk management strategy which comprises:

• an annual review of the risks the charity might face.

• the establishment of systems and procedures to mitigate those risks identified in the plan.

• the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.

The Trustees view the current risks to be financial, the main risks being:

• adequacy of reserves and cashflow.

• achieving income targets; for grants from trusts and foundations as well as visitor income.

• significant drop in visitor figures due to an increase in Covid-19 cases or a different pandemic, a recession, the impact of cost-of-living increases, or competition within the area. higher operating costs due to sickness or quarantining. loss of key staff.

To mitigate the financial risks, the Board of Trustees reviews management account forecasts and income targets at each meeting, and cashflow forecast twice per yearTo mitigate the personnel risks, the Board of Trustees reviews key staffing issues and succession planning.

Accounting Compliance

The Trustees (who are also directors of Discover for the purposes of company law) confirm that the accounts comply with current statutory requirements and with the requirements of the charity’s governing document.

Statement of Trustees’ Responsibilities

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

Company law requires the Directors/Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing the financial statements, the Directors/Trustees are required to:

• select suitable accounting policies and then apply them consistently.

• observe the methods and principles in the Charities SORP.

• make judgements and estimates that are reasonable and prudent.

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charitable company and to enable it to ensure that the financial statements

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CHILDREN’S DISCOVERY CENTRE EAST LONDON TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023

comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

There is no relevant audit information of which the charitable company’s auditors are unaware. The Trustees have taken all the steps that they ought to have taken to make any relevant audit information and to establish that the auditors are aware of that information.

The Directors/Trustees have prepared this report in accordance with the special provisions of Part VII of the Companies Act 2006 relating to small companies.

Approved by the Board of Directors on :

Alexandra Marks CBE

Chair

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE CHILDREN’S DISCOVERY CENTRE EAST LONDON

Opinion

We have audited the financial statements of Children’s Discovery Centre East London for the year ended 31 March 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 March 2023 and of the charitable company’s net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Chair’s Report and the Trustees’ Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees’ Report (which includes the directors’ report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the Trustees’ Report has been prepared in accordance with applicable legal requirements.

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE CHILDREN’S DISCOVERY CENTRE EAST LONDON

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report (which incorporates the directors’ report).

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the charitable company; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees for the financial statements

As explained more fully in the trustees’ responsibilities statement set out on page 18, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charitable company and the environment in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the regulatory requirements of the Charity Commission, and regulations regarding safeguarding, health and safety, and employment law, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the Charities Act 2011, payroll taxes and sales tax.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to the posting of inappropriate journal entries or the manipulation of accounting judgements and estimates. Audit procedures performed by the engagement team included:

• Inspecting correspondence with regulators and tax authorities;

• Discussions with management including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;

• Evaluating management’s controls designed to prevent and detect irregularities;

• Reviewing minutes of Trustees’ meetings during the year;

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE CHILDREN’S DISCOVERY CENTRE EAST LONDON

• Identifying and testing journals; and

• Challenging assumptions and judgements made by management in their critical accounting estimates

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Lee Stokes (Senior Statutory Auditor) 10 Queen Street Place For and on behalf of Haysmacintyre LLP, Statutory Auditor London EC4R 1AG

Date: 1 August 2023

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CHILDREN'S DISCOVERY CENTRE EAST LONDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds 2023 2022
Notes £ £ £ £
INCOME
Income and endowments from:
Donations and Legacies
Grants Receivable 2 96,150 190,329 286,479 532,555
Donations and Gifts 3 21,956 - 21,956 27,875
Charitable Activities
Operation of Centre and Outreach 4 933,341 - 933,341 669,047
Other Trading Activities
Contract Income 2 - 25,000 25,000 41,500
Investments
Rents Receivable 477,653 - 477,653 311,500
Interest Receivable 3,184 - 3,184 2,122
Other Income 64,440 - 64,440 49,724
Total Income 1,596,724 215,329 1,812,053 1,634,323
EXPENDITURE
Expenditure on:
Raising Funds
Fundraising and Marketing 6 225,186 - 225,186 162,692
Charitable Activities
-
Development of the Centre 109,921 109,921 82,166
Operation of the Centre and Outreach 1,523,011 341,238 1,864,249 1,827,090
Total Expenditure 7 1,858,118 341,238 2,199,356 2,071,948
Net income/(expenditure) (261,394) (125,909) (387,303) (437,625)
Transfer between funds 16 (7,448) 7,448 - -
Net movement in funds (268,842) (118,461) (387,303) (437,625)
Fund Balances carried forward at 31 March 2022 3,452,480 165,161 3,617,641 4,055,266
Fund Balances carried forward at 31 March 2023 3,183,638 46,700 3,230,338 3,617,641
----- End of picture text -----

The notes on pages 24 to 35 form part of these financial statements. Details of comparative figures by fund are given on page 33.

All income and expenditure are derived from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006 and includes all gains and losses recognised in the year.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON BALANCE SHEET AS AT 31 MARCH 2023

Company Registration No 03479284

----- Start of picture text -----
Notes 2023 2022
£ £ £ £
FIXED ASSETS
Tangible fixed assets 11 2,703,246 2,969,523
CURRENT ASSETS
Stock 6,803 15,843
Debtors 12 311,403 174,113
Cash at bank and in hand 328,372 658,132
646,578 848,088
CURRENT LIABILITIES
CREDITORS: Amounts falling due
within one year 13 (119,486) (199,970)
NET CURRENT ASSETS 527,092 648,118
TOTAL NET ASSETS 3,230,338 3,617,641
Unrestricted
Designated - Building & Fixed Assets 17 2,703,246 2,969,523
General Funds 480,392 482,957
3,183,638 3,452,480
Restricted Funds 16 46,700 165,161
3,230,338 3,617,641
----- End of picture text -----

The notes form part of these accounts.

The financial statements were approved and authorised for issue by the Board of Trustees on 26 July 2023 and were signed below on its behalf by:

Amit Rama Treasurer

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CHILDREN'S DISCOVERY CENTRE EAST LONDON STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
2023 2023 2022 2022
£ £ £ £
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) (387,303) (437,625)
Adjustments for:
Depreciation Charges 273,772 275,216
Dividends, interest and rents from investments (3,184) (2,122)
Decrease in stocks 9,040 7,106
Increase in debtors (137,290) (59,888)
Increase/(Decrease) in creditors (80,484) 116,447
Net cash (used in)/provided by operating activities (325,449) (100,866)
CASH FLOW FROM INVESTING ACTIVITIES
Purchase of tangible fixed assets (7,495) (118,707)
Dividends, interest and rents from investments 3,184 2,122
Net cash used in investing activities (4,311) (116,585)
Change in cash and cash equivalents in the reporting period (329,760) (217,451)
Cash and cash equivalents at the beginning of the reporting period 658,132 875,583
Cash and cash equivalents at the end of the reporting period 328,372 658,132
2023 2022
£ £
Cash in hand 328,372 658,132
Total Cash and Cash Equivalents 328,372 658,132
----- End of picture text -----

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES

1.1 Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP 2015) (Second Edition, effective 1 January 2019) and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2 Going Concern

The trustees consider there are no material uncertainties about the charity’s ability to continue as a going concern. The review of our financial position, reserves levels and future plans gives trustees confidence the charity remains a going concern for the foreseeable future.

1.3 Income

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

1.4 Expenditure

Expenditure is recognised in the period in which it is incurred and is allocated to the activities to which it relates. Where necessary a best estimate of allocation between activities is adopted.

The cost of raising funds comprises costs associated with generating funds including the cost of staff directly engaged in fundraising.

Charitable expenditure comprises costs directly attributable to running the Centre’s core charitable function as well as the other programmes run.

Governance costs are those associated with the governance of the charity, compliance with statutory obligations and costs related to the strategic management of the Charity.

Support costs are attributed to each activity and are apportioned on the basis of staff time spent.

1.5 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Individual fixed assets costing £500 or more are capitalised at

379-381 improvements 15 years Long leasehold improvements - specific offices 20% on cost Long leasehold premises 50 years Exhibits 8 years Furniture, Fittings & Equipment 25% on cost

Assets under the course of construction are not depreciated until the work is completed and the asset brought into use.

1.6 Leasing and hire purchase commitments

Rentals payable under operating leases are charged against income on a straight line basis over the period of the lease.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

1 ACCOUNTING POLICIES (Continued)

1.7 Stock

Stock is valued at the lower of cost and net realisable value. Stock comprises materials used during workshops and refreshments and souvenirs for resale.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash in bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments.

1.10 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.11 Restricted funds

Restricted funds are funds received subject to specific conditions imposed by the donor.

1.12 Unrestricted funds

Unrestricted funds are funds which are expendable at the direction of the Trustees.

1.13 Employee benefits

Short term benefits

Short term benefits including holiday pay are recognised as an expense in the period in which the service is received.

Employee termination benefits

Termination benefits are accounted for on an accrual basis and in line with FRS 102.

• 1.14 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured. Financial assets held at amortised cost comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital. Financial liabilities held at amortised cost comprise all creditors except social security and other taxes and provisions.

1.15 Critical accounting judgements and key sources of estimation uncertainty

In the application of the accounting policies, trustees are required to make judgement, estimates, and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

Judgements made by the trustees, in the application of these accounting policies that have significant effect on the financial statements and estimates with a significant risk of material adjustment in the next year are deemed to be in relation to the depreciation rates of tangible fixed assets and are discussed above.

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
2 GRANTS AND CONTRACTS RECEIVABLE 2023 2022
Analysis by Funder: Unrestricted Restricted Total Total
£ £ £ £
-
Arts Council England 95,597 95,597 170,597
BBC Children in Need - 43,402 43,402 41,943
European Union - (5,595) (5,595) 26,705
Garfield Weston Foundation - 15,000 15,000 -
Greater London Authority (Royal Docks Team) - 7,500 7,500 10,500
The Henry Smith Charity - - - 25,000
HMRC - - - 58,020
Kusuma Trust - - - 25,380
Leathersellers Company Charitable Fund - - - 10,000
London Borough of Newham - 25,000 25,000 88,887
London Marathon Foundation - - - 27,000
Macquarie Foundation 553 - 553 -
Man Group plc Charitable Trust - 40,000 40,000 25,000
National Lottery Community Fund - 43,022 43,022 43,023
Paul Hamlyn Foundation - 40,000 40,000 -
London Borough of Redbridge - 4,000 4,000 1,500
Rix Thompson Rothenberg Foundation - - - 5,000
The Span Trust - - - 2,500
The World Reimagined - Inspire Grant - 3,000 3,000 -
Veolia Trust - - - 13,000
96,150 215,329 311,479 574,055
Grants 96,150 190,329 286,479 532,555
Contracts - 25,000 25,000 41,500
96,150 215,329 311,479 574,055
Capital - - - 42,500
Revenue 96,150 215,329 311,479 531,555
96,150 215,329 311,479 574,055
----- End of picture text -----

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

2 GRANTS AND CONTRACTS RECEIVABLE Analysis by Funder: Arts Council England BBC Children in Need European Union Greater London Authority (Royal Docks Team) The Henry Smith Charity HMRC Kusuma Trust Leathersellers Company Charitable Fund London Borough of Newham London Marathon Foundation Man Group plc Charitable Trust National Lottery Community Fund London Borough of Redbridge Rix Thompson Rothenberg Foundation The Span Trust Veolia Trust Grants Contracts Capital Revenue	Unrestricted £ 95,597 - - - - - - - - - - - - - - - 95,597 95,597 - 95,597 - 95,597 95,597	Restricted £ 75,000 41,943 26,705 10,500 25,000 58,020 25,380 10,000 88,887 27,000 25,000 43,023 1,500 5,000 2,500 13,000 478,458 436,958 41,500 478,458 42,500 435,958 478,458	2022 Total £ 170,597 41,943 26,705 10,500 25,000 58,020 25,380 10,000 88,887 27,000 25,000 43,023 1,500 5,000 2,500 13,000 574,055 532,555 41,500 574,055 42,500 531,555 574,055

3 DONATIONS AND GIFTS

Donations Donations in Kind Gift Aid	2023 Total £ 12,890 - 9,066 21,956	2022 Total £ 13,782 7,360 6,733 27,875

All donations and gifts were unrestricted.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

4 OPERATION OF CENTRE AND OUTREACH

Family admissions School admissions Shop and café income Birthday party lettings Hire of space Community income Education and participation commissions	2023 2022 Unrestricted Restricted Total Total £ £ £ £ 659,141 - 659,141 528,178 66,108 - 66,108 14,151 156,945 - 156,945 98,339 25,688 - 25,688 (52) 11,235 - 11,235 3,673 10,930 - 10,930 7,049 3,294 - 3,294 17,709 933,341 - 933,341 669,047

The expenditure on operation of centre and outreach in 2022 was unrestricted.

5 NET INCOME/(EXPENDITURE)

ET INCOME/(EXPENDITURE)
The result for the year is stated after charging: Auditor's remuneration - Statutory Audit - Other audit services Depreciation NDRAISING AND MARKETING Direct Costs Salaries Governance Costs Support Costs Direct Costs Salaries Governance Costs Support Costs	Fundraising £ 1,422 44,367 1,905 35,840	Marketing £ 27,806 61,521 2,641 49,684 141,652 Marketing £ 19,095 44,155 2,074 35,433 100,757	2023 2022 Total Total £ £ 12,000 10,400 10,125 3,120 273,772 275,216 2023 2022 Total Total £ £ 29,228 21,237 105,888 76,485 4,546 3,594 85,524 61,376 225,186 162,692 2022 Total £ 21,237 76,485 3,594 61,376 162,692
	83,534 Fundraising £ 2,142 32,330 1,520 25,943 61,935

6 FUNDRAISING AND MARKETING

Fundraising is mainly from Trusts and Foundations. Discover does not undertake street collections or cold calling.

CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

7 EXPENDITURE

Direct Costs Direct Project Costs Capital Development Salaries Support Costs Governance Costs Staff costs Audit Other Support Costs Bank Charges Depreciation Insurance Building Costs Printing & Postage Professional Fees Stationery Telephone Direct Costs Direct Project Costs Capital Development Salaries Support Costs Governance Costs Staff costs Audit Other Support Costs Bank Charges Depreciation Insurance Building Costs Printing & Postage Professional Fees Stationery Telephone	Fundraising & Marketing £ 29,228 - 105,888 3,243 1,303 193 29,745 1,719 50,869 50 1,676 494 778 225,186 166,458 Fundraising & Marketing £ 21,237 - 76,485 2,282 1,312 119 22,648 1,037 32,965 14 3,870 174 549 162,692	Development of Centre £ 815 - 58,872 1,803 727 107 16,591 959 28,374 28 935 276 434 109,921 88,659 Development of Centre £ 879 6,831 40,257 1,201 691 63 11,921 546 17,351 8 2,037 92 289 82,166	Operations £ 316,190 - 699,291 21,417 8,636 1,275 197,027 11,388 336,951 334 11,101 3,274 5,154 1,612,038 1,321,882 Operations £ 269,999 - 717,831 21,417 12,314 1,116 212,556 9,735 309,385 134 36,320 1,632 5,149 1,597,588	Outreach £ 52,190 - 107,951 3,306 1,333 197 30,408 1,758 52,003 52 1,713 505 795 252,211 334,016 Outreach £ 54,045 - 94,870 2,830 1,627 148 28,092 1,287 40,889 18 4,800 216 680 229,502	Total 2023 £ 398,423 - 972,002 29,769 11,999 1,772 273,771 15,824 468,197 464 15,425 4,549 7,161 2,199,356 1,911,018 Total 2022 £ 346,160 6,831 929,443 27,730 15,944 1,446 275,217 12,605 400,590 174 47,027 2,114 6,667 2,071,948	Total 2022 £ 346,160 6,831 929,443 27,730 15,944 1,446 275,217 12,605 400,590 174 47,027 2,114 6,667 2,071,948

CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

8 EMPLOYEES

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

Number of Employees Direct Charitable Expenditure Fundraising and Publicity & Marketing Staff Costs Wages and Salaries Social Security Costs Pension Costs Senior Management Team salaries totalled Senior Management Team is composed of the following number of posts: Chief Executive Officer Deputy Chief Executive Finance Director Head of Development Head of Learning Head of Operations Head of Marketing Head of Creative Events	2023 47 5 52 2023 £ 909,366 58,085 34,321 1,001,772 2023 £ 352,628 2023 0.8 1.0 0.6 0.8 1.0 1.0 0.8 0.6	2022 43 4 47 2022 £ 870,593 53,371 33,210 957,174 2022 £ 324,528 2022 0.8 1.0 0.6 0.8 0.8 1.0 0.7 0.6

There were no employees whose annual emoluments were £60,000 or more (2022: nil). There were no settlements or compromise agreements during the year (2022: nil).

9 TRUSTEES

Vaseem Khan, a trustee, was paid £450 for services for Newham Word Festival (2022: nil). No other trustees received any remuneration from the charity in the year (2022: nil).

10 RELATED PARTIES

Vaseem Khan was paid £450 for services for Newham Word Festival (2022: nil). There were no other related party transactions in the current or preceding year.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

11 TANGIBLE FIXED ASSETS

Discover Discover House Story Centre £ £ Cost or valuation At 1 April 2022 1,003,704 4,428,431 Additions - - Disposals - - At 31 March 2023 1,003,704 4,428,431 Depreciation At 1 April 2022 591,334 2,114,932 Charge in Year 15,539 181,901 Disposals - - At 31 March 2023 606,873 2,296,833 Net book value At 31 March 2023 396,831 2,131,598 At 31 March 2022 412,370 2,313,499 Net book value at 31 March 2023 represents fixed assets used for: Discover Discover House Story Centre £ £ Direct charitable purposes Operation of the Centre - 2,131,598 Leased Property 396,831 - Leasehold Premises Leasehold Premises	Exhibition £ 512,568 2,711 - 515,279 283,711 64,410 - 348,121 167,158 228,857 Exhibition £ 167,158 -	Furniture, Fittings & Equipment £ 213,779 4,784 (38,162) 180,401 198,982 11,922 (38,162) 172,742 7,659 14,797 Computer Equipment £ 7,659 -	Total £ 6,158,482 7,495 (38,162)
			6,127,815
			3,188,959 273,772 (38,162)
			3,424,569
			2,703,246 2,969,523 Total £ 2,306,415 396,831

The Sub-leased building represents expenditure on 379/381 High Street, Stratford which is a property subleased to Skills for Growth/Landmark on a 10 year lease from Oct 2015. The building improvements specifically for the tenant are being depreciated over the period of the lease.

The Sub-leased building was revalued at 11 October 2006 by Glenny LLP, Chartered Surveyors, on the basis of open market value at £985,000. This resulted in an unrealised impairment loss of £289,135 which was accounted for in the financial statements for the year ended 31 March 2006. The Trustees do not believe that there has been a further permanent diminution in value since 11 October 2006.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

12 DEBTORS

Trade debtors Rent / Service Charges Prepayments and accrued income CREDITORS: Amounts falling due within one year Taxes and social security costs Other creditors Accruals and deferred income DEFERRED INCOME Total deferred income at 1 April 2022 Amounts realised in the year Deferred income in the year Total Deferred Income at 31 March 2023	2023 £ 18,919 106,800 185,684 311,403 2023 £ 20,828 61,129 37,529 119,486 2023 £ 38,880 (38,880) 13,257 13,257	2022 £ 29,504 71,875 72,734 174,113 2022 £ 41,693 90,135 68,142 199,970 2022 £ - - 38,880 38,880

13 CREDITORS: Amounts falling due within one year

14 DEFERRED INCOME

15 SHARE CAPITAL

The company is limited by guarantee and does not have any share capital. Each member guarantees up to £5 payable in the event of a winding up under the terms of the Memorandum and Articles of Association.

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NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

16 RESTRICTED FUNDS

Community Projects Capital Garden Project Community Projects	Balance at 1 Apr 2022 £ 165,161 165,161 Balance at 1 Apr 2021 £ 52,000 320,592 372,592	Income £ 215,329 215,329 Income £ 42,500 435,958 478,458	Expenditure £ (341,238) (341,238) Expenditure £ (6,831) (591,389) (598,220)	Transfers £ 7,448 7,448 Transfers £ (87,669) - (87,669)	Balance at 31 Mar 2023 £ 46,700 46,700 Balance at 31 Mar 2022 £ - 165,161 165,161

The Capital Garden Project represents improvements to the Story Garden. The transfers are the items in the garden that have been capitalised.

Community Projects represents income and expenditure in relation to promoting the objectives of the charity in the local area.

17 DESIGNATED FUNDS

Building Fund Strategic Fund Building Fund	Balance at 1 Apr 2022 £ 2,969,523 2,969,523 Balance at 1 Apr 2021 £ 95,000 3,126,032 3,221,032	New Designations £ 7,495 7,495 New Designations £ - 118,707 118,707	Expenditure £ (273,772) (273,772) Expenditure £ (95,000) (275,216) (370,216)	Transfers £ - - Transfers £ - - -	Balance at 31 Mar 2023 £ 2,703,246 2,703,246 Balance at 31 Mar 2022 £ - 2,969,523 2,969,523

The Strategic Fund is for essential maintenance and repairs of the building and garden. The Building Fund represents the net book value of the tangible fixed assets held at 31 March 2023.

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CHILDREN'S DISCOVERY CENTRE EAST LONDON NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR THE YEAR ENDED 31 MARCH 2023

18 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at 31 March 2023 are represented by: Fixed Assets Current Assets Creditors: amounts falling due within one year Fund balances at 31 March 2022 are represented by: Fixed Assets Current Assets Creditors: amounts falling due within one year	Unrestricted Funds £ - 599,878 (119,486) 480,392 321,218 Unrestricted Funds £ - 682,927 (199,970) 482,957	Designated Funds £ 2,703,246 - - 2,703,246 3,756,734 Designated Funds £ 2,969,523 - - 2,969,523	Restricted Funds £ - 46,700 - 46,700 117,955 Restricted Funds £ - 165,161 - 165,161	Total Funds £ 2,703,246 646,578 (119,486) 3,230,338 4,093,313 Total Funds £ 2,969,523 848,088 (199,970) 3,617,641

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CHILDREN'S DISCOVERY CENTRE EAST LONDON STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
19 STATEMENT OF FINANCIAL ACTIVITIES - 2022
General Restricted Total
Funds Funds 2022
£ £ £
INCOME
Income and endowments from:
Donations and Legacies
Grants Receivable 95,597 436,958 532,555
Donations and Gifts 27,875 - 27,875
Charitable Activities
Operation of Centre and Outreach 669,047 - 669,047
Other Trading Activities
Contract Income - 41,500 41,500
Investments
Rents Receivable 311,500 - 311,500
Interest Receivable 2,122 - 2,122
Other Income 49,724 - 49,724
Total Income 1,155,865 478,458 1,634,323
EXPENDITURE
Expenditure on:
Raising Funds
Fundraising and Marketing 162,692 - 162,692
Charitable Activities
Development of the Centre 82,166 - 82,166
Operation of the Centre and Outreach 1,228,870 598,220 1,827,090
Total Expenditure 1,473,728 598,220 2,071,948
Net income/(expenditure) (317,863) (119,762) (437,625)
Transfer between funds 87,669 (87,669) -
Net movement in funds (230,194) (207,431) (437,625)
Fund Balances brought forward at 1 April 2021 3,682,674 372,592 4,055,266
Fund Balances carried forward at 31 March 2022 3,452,480 165,161 3,617,641
----- End of picture text -----

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