2023-03-31-accounts - Paddington Development Trust

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			~Pa e
Company information
Trustees' and	directors'	report	2 - 12
Independent	auditors'	report	15-18
Statement of	financial activities		19
Balance sheet			20
Statement of	cash flows		21
Notes to the financial statements

Summary ofProgrammes &Courses	Nos of Students
Early Years Practitioner (L3)	138
Specialist Support for Teaching and Learning in Schools (L3) Children and Young Peoples Workforce (L2)	156 38
Award Level 2for ITUsers	30
Certificate Level 2for ITUsers	15
Level 1FSEnglish	103
FSin Maths	21
Level 1Employability Skills	63
E3Award in Skills for Life	7
Total:	571

		FORTHE Y	EAR ENDED 31M	ARCH 2023
		Note	Unrestricted	Restricted	Total Funds	Total Funds
				Funds	2023	2022
				6		E
Income
Donations			21,000	297,247	318,247	284,462
Charitable activities			433,215	2,994,031	3,427,246	3,758,222
Other activities			305,098	107,446	412,544	397,428
Investments
Total			759,313	3,398,724	4,158,037	4,440,112
Expenditure
Charitable activities		6	664,447	3,429,165	4,093,613	4,210,182
Total			664,447	3,429,165	4,093,613	4,210,182
Net income/(expenditure)		10	94,866	(30,442)	64,424	229,930
Transfer between funds			(30,442)	30,442
Net movement	in funds		64,424		64,424	229,930
Reconciliation	offunds
Fund balances	brought forward		749,181		749,181	519,251
Fund balances	carried forward		813,605		813,605	749,181

ALANCE SHEET					AT 31MARCH	2023
		Note		2023	2022
			6	E
FIXEDASSETS		14		9,948		6,518
CURRENT ASSETS
Debtors		15	379,118		239,188
Cash at bank and in hand			973,007		1,047,209
			1,352,125		1,286,397
CREDITORS: AMOUNIS FALLING
DUE WITHIN ONE YEAR		16	(401,072)		(391,338)
NET CURRENT ASSE'IS				951,053	895,059
CREDITORS: AMOUNTS FALLING
DUE IN MORE THAN ONE	YEAR	16a		(147,396)	(152,396)
TOTAL NET ASSETS		18		813,605	749,181
CAPITAL AND RESERVES
Unrestricted funds —general funds		17		673,605	609,181
Unrestricted fund —designated	funds	17		140,000 algal	140,000
Restricted funds		17
TOTAL FUNDS				813,605	749,181

	FORTHE YEAR ENDED	31MARCH 2023	31MARCH 2023
	Note		2023	2022
Net cash (outflow)/inflow
from operating activities		19a	(74,202)	329,584
Investing activities
Interest income
Net cash inflow from investing activities
Financing activities
Interest paid
Long-term loan finance
Net cash inflow/(outflow)
from financing activities
(Decrease)/increase in cash and cash equivalents			(74,202)	329,584
Cash and cash equivalents	at 1April 202219b		1,047,209	717,625
Cash and cash equivalents	at31March 2023	19b	973,007	1,047,209

			Unrestricted	Unrestricted	Restricted		Total	Total
				Funds	Funds		Funds	Funds
				2023	2023		2023	2022
Donations (")				21,000	297,247		318,247	284,462
(*)included	in restricted donations			is615,000from the Foyle Foundation			(2022:Gul).
			Unrestricted		Restricted		Total	Total
				Funds	Funds		Funds	Funds
				2022	2022		2022	2021
								6
Donations				70,714	213,748		284,462	171,823
3. INCOME	FROM	CHARITABLE ACTIVITIES CURRENT				YEAR
			Unrestricted		Restricted		Total	Total
				Funds	Funds		Funds	Funds
				2023	2023		2023	2022
					E		E
DWP Kickstart					34,553		34,553	234,818
ESFGLA Mayor's Academies					421,351		421,351
BigLottery Fund (BBO)					577,543		577,543	501,292
Education and Skills
Funding Agency		(ESFA)		109,463	1,108,745	1,218,208		1,804,565
GLA (Good work for all)					559,185		559,185
Hammersmith	&Fulham Council			26,436			26,436	38,018
ESFA (Adult	Education)			9,671			9,671	403,703
Tri-borough	Public Health			55,885	236,630		292,515	274,126
BigLottery BSCF				26,303			26,303	89,223
The Heritage	Lottery	Fund (SMM)		75,258	56,025		131,283	288,895
WCC —Other Grants				33,897			33,897	49,458
Other grants								20,512
East London	ELATI'							1,660
HMRC job retention		scheme						15,797
Other fees and contributions			(")	96,302			96,302	36,155
				433,215	2,994,031	3,427,246		3,758,222

		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2022	2022	2022	2021
					E
DWP Kickstart			234,818	234,818
BigLottery Fund (BBO)			501,292	501,292	711,089
Education and Skills
Funding Agency	(ESFA)	165,162	1,639,403	1,804,565	1,496,751
ESFA (Adult Education)		403,703		403,703	178,792
London Councils Employment					99,100
Tri-borough Public Health			274,126	274,126	251,940
Big Lottery BSCF		15,934	73,289	89,223	99,905
The Heritage Lottery	Fund				231,500
Culture Recovery Fund (R2)		210,200	78,695	288,895
WCC —Other Grants		24,000	25,458	49,458	25,832
Other grants		13,065	7,447	20,512
Hammersmith and Fulham Council					27,396
East London ELATT		1,660		1,660
The Power 2Change	(BBO)				17,190
HMRC job retention	scheme		15,797	15,797	48,620
Other fees and contributions		13,601	22,554	36,155	130,194
		885,342	2,872,880	3,758,222	3,318,309
4. INCOME FROM	OTHER	ACTIVITIES
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2023	2023	2023	2022
Rental income		305,098	107,446	412,544	397,428
		Unrestricted	Restricted	Total	Total
		Funds	Funds	Funds	Funds
		2022	2022	2022	2021
Rental income		189,818	207,610	397,428	214,949

				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
				2023	2023	2023	2022
	Bank interest
				Unrestricted	Restricted	Total	Total
				Funds	Funds	Funds	Funds
				2022	2022	2022	2021
	Bank interest						317
6.	EXPENDITURE ON CHARITABLE			ACTIVITIES CURRENT YEAR
				Direct	Support	Total	Total
				Costs	Costs	2023	2022
						E
	ESFA Community Grant	(EQUIP)		1,108,745	92,712	1,201,457	1,771,228
	Church Street Neighbourhood		Centre				54,216
	Employment (DWP Kickstart)			26,051	2,178	28,229	243,655
	ESFA Mayor's Academies			302,234	25,273	327,507
	Stowe Community Centre			231.237	19,336	250,573	165,423
	Skills and Training Centre (GLA)			616,763	51,573	668,336	418,957
	Community Champions			352,233	29,453	381,686	368,355
	BigLottery Fund (BBO)			583,779	48,815	632,594	699,037
	StMary Magdalene's Project						195,560
	Grand Junction			556,682	46,549	603,231	293,751
	Total			3,777,724	315,889	4,093,613	4,210,182
	EXPENDITURE ON CHARITABLE			ACTIVITIES PRIOR YEAR
				Direct	Support	Total	Total
				Costs	Costs	2022	2021
							E
	ESFACommunity Grant	(EQUIP)		1,639,403	131,825	1,771,228	1,487,612
	Church Street Neighbourhood		Centre	50,181	4,035	54,216	47,042
	Stowe Community Centre			153,112	12,311	165,423	136,312
	Skills and Training Centre			387,776	31,181	418,957	351,117
	Community Champions			340,940	27,415	368,355	327,085
	BigLottery Fund (BBO)			647,011	52,026	699,037	818,354
	StMary Magdalene's Project			181,005	14,555	195,560	205,650
	Grand Junction			271,888	21,863	293,751	277,390
	Westworks Employment	Project					100,364
	Total			3,896,835	313,347	4,210,182	3,750,926

7.	ANALYSIS OFDIR	EC	T COSTS
							Total	Total
							2023	2022
								E
	Wages and salaries						1,140,518	970,907
	Tuition fees and consultancy						232,251	131,000
	Premises/office costs						359,018	298,603
	Youth and community		support events costs				214,883	203,641
	St.Mary Magdalene	project professional			fees			36,473
	Programme partners	costs/grants		payable to institutions			1,726,917	2,156,709
	Other direct costs						104,137	99,502
							3,777,724	3,896,835
8.	ANALYSIS OF SUPPORT COSTS
							2023	2022
							E
	Staff Costs						247,712	227,168
	Insurance and bank	charges					6,187	4,924
	Sundry
	StaH training							12,973
	Maintenance ofcomputers							1,306
	Office costs						6,006	20,450
	Subscriptions						12,477	5,106
	Printing, stationery	and	computer	consumables			4,359	2,594
	Communication costs						4,039	3,566
	Travel						3,971	698
	Legal and professional		fees				1,647	900
	Governance costs (note		9)				19,997	18,908
	Depreciation —furniture		and equipment				3,316	2,191
	Consultancy						3,678	3,862
	London Community	Commission		sponsorship		(")	2,500	5,000
	COVID support projects							1,700
	CMA Annual Award							2,000
							315,889	313,346

			2023	2022
			E	E
Staff costs			13,037	11,956
Auditors'	remuneration		7,000	7,000
Auditors'	remuneration	prior year	(40)	(48)
			19,997	18,908

10.	NET INCOM XPENDITUR
	Net income/(expenditure) for the year is stated after charging:

2023	2022
3,316	2,191

	expenses were reimbursed to Trustees duri	ng the year (2022: Qul).
12.	STAFF COSTS	2023	2022
		E	E
	Salaries and wages	1,211,421	1,068,982
	Social security costs	100,242	95,234
	Pension costs	53,409	45,815
		1,365,072	1,210,031

function was	:
			2023	2022
			Number	Number
Direct charitable		activities	31	30
Management	and	administration	5	4
			36	34

	Office equipment and furniture
COST	E
At 1April 2022	67,247
Additions	6,746
At 31March 2022	73,993
DEPRECIATION
At1April 2022	60,729
Charge for the year	3,316
Disposals	(-)
At31March 2023	64,045
NET BOOK VALUE
At 31March 2023	9,948
At 31March 2022	6,518

		2023	2022
			E
Government	grants due	369,731	206,047
Sundry debtors and prepayments		9,387	33,141
		379,118	239,188

	2023	2022
	E
Trade creditors	85,096	16,672
Grants payable	218,635	74,026
Accruals and deferred income	87,707	275,001
Other taxes and social security		24,639
Other creditors	9,634
	401,072	391,338

2023	2022
147,396	152,396

STATEMENT OF FUNDS CUR	RENT	YEAR
At 1	April	Income	Expenditure	Transfers	At 31March
	2022				2023
			E		E
Restricted funds
Education and Skills Funding
Agency (ESFA)		1,108,745	(1,108,745)
BigLottery Fund (BBO)		577,543	(577,543)
Tri-borough Public Health		236,630	(236,630)
DWP kickstart		34,553	(34553)
ESFGLA Mayor's Academies		421,351	(421,351)
GLA Good Work for All		559,185	(559,185)
Donations —Charitable Trusts
and Foundations		297,247	(297,247)
The Heritage Lottery Fund		56,023	(56,023)
Grand Junction rent &concession		107,446	(137,889)	(30,443)
Total restricted funds		3,398,723	(3,429,166)	30,443

	Land and Buildings
	2023	2022
	E
Within one year	17.227	19,712
After one year but within five years	39,257	19,208
Greater than five years	14	4,815