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2023-03-31-accounts

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE (Company limited by guarantee no. 04132678 registered charity no. 1089829)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

(Company limited by guarantee no. 04132678, registered charity no. 1089829)

REPORT AND FINANCIAL STATEMENTS for the year ended 31 March 2023

CONTENTS

Page
Legal and administrative information 1
Committee members' report 2
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Cash flow statement 9
Notes to the financial statements 10

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS for the year ended 31 March 2023

Management Ms M M Norwood - Centre Manager
Committee members Ms B M Collier - Barrister
Ms N Mylius - Architect
Company Secretary Ms A Newman
Projects Manager Ms M M Norwood BA DipEd
Advisory Committee Ms A Newman
Ms B Susman
Company reg. no. 04132678
Charity reg. no. 1089829
Registered office The Old Warm Baths
76 Shacklewell Lane
Hackney
London
E8 2EY
Independent examiner Simon Erskine FCA FCIE DChA
61 Mortimer Road
London
NW10 5QR
Bankers Barclays Bank PLC Virgin Charity Deposit Account
Kingsland Jubilee House
P O Box 3628 Gosforth
London Newcastle Upon Tyne
E8 2JT NE3 4PL
Hampshire Trust Bank (Savings)
PO Box 74003
London
EC2P 2QR

1

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

COMMITTEE MEMBERS' REPORT for the year ended 31 March 2023

The Management Committee members, who are also directors of the Charity for the purposes of company law, and trustees for the purposes of Charity law, submit their annual report and the financial statements of The Bath House Children's Community Centre (the Bath House) for the year ended 31 March 2023. The Management Committee has adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The Charity is a limited company, limited by guarantee, as defined by the Companies Act 2006. Its governing documents are its Memorandum and Articles of Association.

The management of the Company is the responsibility of the Trustees (directors) who are elected and coopted under the terms of the Memorandum and Articles of Association and form the Management Committee. Committee members are appointed at Annual General Meetings or co-opted at any time between Annual General Meetings by the Management Committee.

Recruitment and appointment of new trustees

The directors of the Charity are also Charity trustees for the purposes of Charity law and under the Charity's Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association, the members of the Committee shall hold office until the conclusion of the next Annual General Meeting after their election or co-option, as the case may be, but shall be eligible for re-election or re-option.

Organisational structure

From January 2016 Ofsted, as recommended by the Department of Education (DfE), have said that the Nominated Person by a charitable organisation to represent the Charity in their dealings with Ofsted must be a Board member of the governing body of the Charity, therefore such a registered individual must be a Company Director and/or a Charity Trustee.

The Trustees and the Management Committee considered the changes and following the decision of the Trustees as previously reported, Maggie Norwood became a Charity Trustee and Director of the Company.

The Trustees have and will continue to oversee the management, development and financial security of the Bath House.

Induction and training of new trustees

Most Committee members are familiar with the practical work of the Children's Community Centre and have undertaken training to support their role. New Management Committee members are invited and encouraged to attend training sessions and an introduction pack is given to all new members. Any new trustees attend a governance training day. There were no new trustees in this period.

Related parties

Apart from the working relationship between the funders, sometimes referred to as supporters, there were no other related parties to the Charity. Following the appointment of Maggie Norwood as Charity trustee, her salaries in her role as Projects Director of the Bath House was reported as related party transaction. In the year under review, no other related party transaction took place. To protect and maintain the integrity and independence of Management Committee, it is Charity policy that Maggie Norwood withdraws from any meeting where her terms or conditions of employment are discussed.

2

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

COMMITTEE MEMBERS' REPORT for the year ended 31 March 2023

Staff and Training

23 people were employed at the start of the year and 26 by the end of the year, mostly on a part-time basis.

In 2019 the Bath House adopted the London Living Wage policy for staff wages. No permanent staff at the Bath House are paid below the London Living Wage hourly rate.

Professional development and staff training remain a high priority, and all staff are encouraged to further their skills and understanding by taking courses. There is a rolling program of training in Paediatric First Aid, Food Hygiene, and Safeguarding, as these qualifications need renewing every 2 or 3 years.

The Bath House offered many students placements again during this year. We had 3 NVQ3 students and 2 of them remained to join the staff team. We also had 5 nursing students on 5 weeks placement from City University.

We have continued to have very close contact with Hackney Education Special Needs Team and they have provided professional support to us for children with Special Needs. Some childcare staff at The Bath House have had training in Special Educational Needs provided by Hackney Education. Hackney Education holds the work at The Bath House with Special Needs children in high esteem.

OBJECTIVES AND ACTIVITIES Charitable objects

For children and young people in the London Boroughs of Hackney and Islington:

A) Benefit the community by providing facilities for the care, recreation, and education of children aged one to five years in a playgroup and nursery setting, and children aged three to fourteen years in out of school hours and holiday periods.

B) Advance the education and training of the workers and volunteers in the provision of the care, education and recreational facilities.

C) Provide family support and improve family welfare and conditions of life through childcare, education, and recreational provision.

Public benefit

In developing the objectives for the year and in planning our activities, the Committee have considered the Charity Commission’s guidance on public benefit. The Bath House provides great benefit to local families as we provide a high quality, affordable and continuous childcare service for children aged 12 months to the end of primary school. This service enables parents to work, train, and manage their family life with very good childcare support. The Bath House assists its employees, students on placement, and volunteers, in their professional development, helping to create a skilled childcare workforce. The Bath House supports children in their learning, and in the development of social skills, and has been of great benefit to children with additional needs who require specialised care and input to assist their inclusion in childcare services. The Bath House is a highly regarded childcare centre (designated as Outstanding by Ofsted) with a strong reputation of operating with a community ethos, helping families in need wherever possible, with the aid of charitable and statutory funding.

3

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

COMMITTEE MEMBERS' REPORT for the year ended 31 March 2023

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

The Bath House is situated in the London Borough of Hackney. School results in Hackney had been very poor for a number of years, however recent results show the primary and secondary schools are now achieving some of the best results in the whole country. We feel that the Bath House has played a role in helping to attain these results as high quality early years support and education is considered to be paramount in raising the educational attainment of Hackney children. The Bath House nursery children feed into the local schools and it is committed to giving children a very positive start to their education by building their self-esteem and providing stimulating and creative play.

Uniquely in Hackney, The Bath House pre-pandemic had offered continuity of care for children from 12 months to 11 years, as we offered nursery care, after school care, and holiday care. These services enabled us to give long-term support to children and families. Since the pandemic we no longer have after school and holiday care. This is partly due to the 2020 restructuring in the hall that has reduced the space available for the older children, and partly due to the loss of skilled play worker staff. More nursery children stay for a long day now and require the hall as their main nursery room.

The Bath House offers very high quality and affordable childcare to all local families, in line with our stated aims, and to the benefit of the local community. The waiting list is open to all and places are allocated on a first come first served basis. We include all children and have many children from low-income families, and children with special needs that require special attention and often a one to one support worker. Our Special Needs co-coordinator works with specialist agencies to ensure that children and families receive all the additional support they require.

Pre-pandemic the Nursery was fully subscribed, however the pandemic lowered demand for places and there were less children than usual in the nursery. The numbers built up over the year but did not reach our full capacity in the 3/4 year old group.

The Bath House website www.bathhouse.org.uk received over 1000 unique visitors per month.

External funding activities

We have a programme of applying for grants throughout the year administered by Hackney Education that subsidise nursery education. We offer places to children who receive the means tested 2 year old grant, and we receive either the 15 or 30 hours Nursery Education grants for all 3 and 4 year olds.

FINANCIAL REVIEW

Principal funding sources

Nursery Education grants provided £136,219 and Parents’ fees £505,863.

Reserves policy

The Committee has agreed that the Charity should build up its reserves to enable it to cover at least three months' wages for the staff and associated overheads. This is currently estimated at £131,000. At the yearend the free reserves stood at £206,594. In calculating free reserves the Trustees have excluded the designated reserve that represents fixed assets.

BUILDING IMPROVEMENTS

Some building improvements were undertaken this year including new vinyl flooring in the atrium, lobby and kitchen and improved storage in the atrium. There are plans to redesign and renovate the back garden as the wooden structures are in need of replacing and repair.

4

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

COMMITTEE MEMBERS' REPORT for the year ended 31 March 2023

FUTURE PLANS

The Bath House will continue to provide our staff with many training opportunities, and to maximise their potential, with a view to raising the standard of the childcare sector workforce. We will also continue to provide placements for students from local schools and colleges, benefitting these students in gaining valuable experience, and in some cases leading on to employment either at The Bath House or in another setting.

The Bath House will continue to support children with special needs and will seek funding for special needs and families in hardship and hard to reach families. This intention is in line with our aim of providing opportunity and the highest quality care and education to young children, and also providing long-term benefit for the families involved by including their children in our provision, and offering support and guidance to parents in need of assistance.

PREPARATION OF THE REPORT

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

INDEPENDENT EXAMINER

The independent examiner, Simon Erskine FCA FCIE DChA, has indicated his willingness to accept reappointment.

This report was approved and authorised for issue by the Committee member on 14 November 2023 and signed on its behalf by:

Nicky Mylius Trustee/Director

5

INDEPENDENT EXAMINER'S REPORT TO THE MANAGEMENT COMMITTEE OF THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

I report to the charity trustees (Committee members) on my examination of the accounts of The Bath House 1 Children's Community Centre for the year ended 31 March 2023 which are set out on pages 7 to 18.

This report is made solely to the Management Committee, as a body, in accordance with regulations made under section 154 of the Charities Act 2011. My work has been undertaken so that I might state to the Management Committee matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Management Committee for my independent examination work, for this report, or for the statement I have given below.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

Simon Erskine FCA FCIE DChA

61 Mortimer Road London NW10 5QR

14 November 2023

6

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023

Unrestricted
Funds
Notes
2023
£
INCOME FROM:
Donations and voluntary grants
2
2,350
Investments - deposit account interest
2,119
3
505,863
Sundry income
4,587
TOTAL
514,919
EXPENDITURE ON CHARITABLE ACTIVITIES
Direct costs of nursery
4
318,461
Support costs
5
167,627
TOTAL
486,088
28,831
RECONCILIATION OF FUNDS:
TOTAL FUNDS BROUGHT FORWARD
575,356
TOTAL FUNDS CARRIED FORWARD
604,187
£
Charitable activities
Net income/(expenditure)		 Restricted
Funds
2023
£
-
-
136,219
-
136,219
136,219
-
136,219
-
-
Nil
£		 Total
Funds
2023
£
2,350
2,119
642,082
4,587		 Total
Funds
2022
£
76,669
525
536,272
2,845
651,138 616,311
454,680
167,627		 438,037
173,461
622,307 611,498
28,831
575,356		 4,813
570,543
604,187
**£ **		 575,356
_£ _

NOTE ON COMPARATIVES

See Note 15 for the Statement of Financial Activities for the year ended 31 March 2022.

The annexed notes form part of these financial statements

7

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE (company limited by guarantee no. 04132678)

BALANCE SHEET As at 31 March 2023

Notes
2023
£
£
FIXED ASSETS
Tangible assets
8
643,939
CURRENT ASSETS
Debtors
9
13,291
Cash at bank and in hand
261,470
274,761
CREDITORS: amounts falling due
within one year
10
(71,125)
NET CURRENT ASSETS
203,636
TOTAL ASSETS LESS CURRENT LIABILITIES
847,575
CREDITORS: amounts falling due
after one year
11
(243,388)
NET ASSETS
604,187
£
FUNDS
Unrestricted funds:
Designated fixed assets fund
13
397,593
General fund
13
206,594
604,187
604,187
**£ **		 £
9,688
233,646		 2022
£
656,537
162,637
243,334
(80,697)
403,999
171,357
819,174
(243,818)
575,356
_£ _
575,356
575,356
_£ _

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

For the year ending 31 March 2023 the Charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors'/Trustees' responsibilities:

(i) The members have not required the Charity to obtain an audit of its accounts for the year in question in accordance with section 476;

(ii) The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The financial statements were approved, and authorised for issue, by the Management Committee on 14 November 2023 and signed on their behalf by:-

NICKY MYLIUS, Trustee/Director

The annexed notes form part of these financial statements

8

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

CASH FLOW STATEMENT for the year ended 31 March 2023

2023
Note
£
Net cash flow from operating activities:
Net cash provided by operating activities
12
50,192
Interest paid
(12,145)
Net cash provided by operating activities (see below)
38,047
Cash flows from investing activities:
Interest received
2,119
Purchase of tangible fixed assets
(6,150)
Net cash provided by investing activities
(4,031)
Cash flows from financing activities
Loan repayments in year
(6,192)
Change in cash and cash equivalents in the reporting year
27,824
Cash and cash equivalents at 1 April
233,646
Cash and cash equivalents at 31 March
261,470
£
Cash and cash equivalents consists of:
Cash at bank and in hand
101,470
Short term deposits (see Note below)
160,000
Cash and cash equivalents at 31 March
261,470
£
ANALYSIS OF CHANGES IN NET DEBT
1.04.2022
Cash flows
£
£
Long-term borrowings
(243,818)
430
Short-term borrowings
(8,717)
5,762
Total liabilities
(252,535)
6,192
Cash and cash equivalents
233,646
27,824
Total net debt
(18,889)
£
34,016
£
Short term deposits can be withdrawn without notice.		 2023
Note
£
Net cash flow from operating activities:
Net cash provided by operating activities
12
50,192
Interest paid
(12,145)
Net cash provided by operating activities (see below)
38,047
Cash flows from investing activities:
Interest received
2,119
Purchase of tangible fixed assets
(6,150)
Net cash provided by investing activities
(4,031)
Cash flows from financing activities
Loan repayments in year
(6,192)
Change in cash and cash equivalents in the reporting year
27,824
Cash and cash equivalents at 1 April
233,646
Cash and cash equivalents at 31 March
261,470
£
Cash and cash equivalents consists of:
Cash at bank and in hand
101,470
Short term deposits (see Note below)
160,000
Cash and cash equivalents at 31 March
261,470
£
ANALYSIS OF CHANGES IN NET DEBT
1.04.2022
Cash flows
£
£
Long-term borrowings
(243,818)
430
Short-term borrowings
(8,717)
5,762
Total liabilities
(252,535)
6,192
Cash and cash equivalents
233,646
27,824
Total net debt
(18,889)
£
34,016
£
Short term deposits can be withdrawn without notice.		 2023
Note
£
Net cash flow from operating activities:
Net cash provided by operating activities
12
50,192
Interest paid
(12,145)
Net cash provided by operating activities (see below)
38,047
Cash flows from investing activities:
Interest received
2,119
Purchase of tangible fixed assets
(6,150)
Net cash provided by investing activities
(4,031)
Cash flows from financing activities
Loan repayments in year
(6,192)
Change in cash and cash equivalents in the reporting year
27,824
Cash and cash equivalents at 1 April
233,646
Cash and cash equivalents at 31 March
261,470
£
Cash and cash equivalents consists of:
Cash at bank and in hand
101,470
Short term deposits (see Note below)
160,000
Cash and cash equivalents at 31 March
261,470
£
ANALYSIS OF CHANGES IN NET DEBT
1.04.2022
Cash flows
£
£
Long-term borrowings
(243,818)
430
Short-term borrowings
(8,717)
5,762
Total liabilities
(252,535)
6,192
Cash and cash equivalents
233,646
27,824
Total net debt
(18,889)
£
34,016
£
Short term deposits can be withdrawn without notice.		 2022
£
29,483
(7,410)
22,073
525
(2,288)
(1,763)
(10,045)
10,265
223,381
233,646
_£ _
71,946
161,700
233,646
_£ _
31.03.2023
£
(243,388)
(2,955)
(252,535)
233,646
(18,889)
£		 6,192
27,824
34,016
£		 (246,343)
261,470
15,127
**£ **

9

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

1. ACCOUNTING POLICIES

(a) General information and basis of preparation of financial statements

The Bath House Children's Community Centre (the Charity) is a charitable company limited by guarantee registered in England; its registered office is as shown on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the Charity.

The Charity constitutes a public benefit entity as defined by the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 (SORP 2019), FRS 102, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 January 2019.

The financial statements are prepared on a going concern basis under the historical cost convention.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

(c) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

No amount is included in the financial statements for volunteer time in line with the SORP 2019.

The Charity receives government grants towards its work. Income from government and other grants are recognised at fair value when the Charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.

10

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

(d) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is considered that all charitable activities relate to the running of the Bath House Children's Community Centre.

Irrecoverable VAT is charged as an expense against the activity for which the expenditure arose.

It is not considered that a significant amount of time has been spent on fundraising and hence no costs have been allocated to this heading.

(e) Support costs allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity. Staff costs have been allocated between governance costs, other support costs and charitable activities on an estimated time basis by member of staff. Other overheads, including premises costs, have been allocated pro rata to staff costs.

(f) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold land - not depreciated
Freehold buildings and improvements - 50 years
Office equipment and fittings - 5 years
Centre fixtures and fittings - 5 years

(g) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(h) Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs.

(i) Employee benefits

When employees have rendered service to the Charity, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

11

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

The Charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

(j) Tax

The Charity is an exempt Charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(k) Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

(l) Judgements and key sources of estimation uncertainty

No judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies and there are no key sources of estimation uncertainty.

2. INCOME FROM DONATIONS AND VOLUNTARY GRANTS

Donations
Coronavirus Job Retention Scheme
Other grants
Grants from London Borough of Hackney
for loss of income due to Covid		 Unrestricted
Funds
2023
£
-
-
-
2,350
2,350
**£ **		 Restricted
Funds
2023
£
-
-
-
-
Nil
£		 Total
Funds
2023
£
-
-
-
2,350
2,350
**£ **		 Total
Funds
2022
£
479
10,350
65,840
-
76,669
_£ _

In the 2022 financial year just the grant income from London Borough of Hackney was restricted.

12

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

3. INCOME FROM CHARITABLE ACTIVITIES

Nursery fees
Grants from London Borough of Hackney:
Grant for 2 year olds
30 hours grant
15 hours grant
Early Years Inclusion Fund		 Unrestricted
Funds
2023
£
505,863
-
-
-
-
505,863
**£ **		 Restricted
Funds
2023
£
-
13,405
42,964
78,050
1,800
136,219
**£ **		 Total
Funds
2023
£
505,863
13,405
42,964
78,050
1,800
642,082
**£ **		 Total
Funds
2022
£
399,620
11,112
50,404
75,136
-
536,272
_£ _

In the 2022 financial year just the grant income from London Borough of Hackney was restricted.

4. DIRECT CHARITABLE COSTS

DIRECT CHARITABLE COSTS
Direct wages and salaries
403,283
-
Play activities/outgoings
13,322
-
Catering
14,488
Play equipment and consumables
3,903
Training and courses
179
Travelling
593
Cleaning
17,717
Volunteer expenses
140
Recruitment costs
1,055
454,680
£
Nil
£		 2023
£
403,283
13,322
14,488
3,903
179
593
17,717
140
1,055
454,680
**£ **		 2022
£
397,865
10,113
14,305
4,505
981
419
8,729
125
995
438,037
_£ _

13

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

5.
SUPPORT AND GOVERNANCE COSTS
Staff costs
102,588
-
Rates and water
2,920
Insurance
4,073
Light and heat
5,053
Telephone
2,835
Postage and stationery
1,460
Advertising
-
Repairs and maintenance
9,337
Depreciation:
Freehold property
14,645
Fixtures and fittings
4,103
Mortgage interest
12,145
Sundry expenses
1,749
Governance costs:
Independent examination/audit fees
2,750
Legal and professional fees
3,969
6.
STAFF NUMBERS AND COSTS
Wages and salaries
Social security costs
Pension costs
Charitable activities
Support costs
The average monthly number of employees during the year was:		 2023
£
102,588
2,920
4,073
5,053
2,835
1,460
-
9,337
14,645
4,103
12,145
1,749
2,750
3,969
167,627
£
2023
£
462,032
31,431
12,408
505,871
£
Number
20.6
3.8
24.4		 2022
£
110,828
455
3,698
4,689
3,867
1,425
200
12,980
14,522
5,970
7,410
1,202
2,500
3,715
173,461
_£ _
2022
£
461,682
33,958
13,053
508,693
_£ _
Number
20.6
3.8
24.4

No employee received remuneration of more than £60,000.

14

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

7. MANAGEMENT COMMITTEE AND KEY MANAGEMENT PERSONNEL

During the year, one member of the Management Committee, which comprises the Charity's key management personnel, received remuneration (including national insurance) of £40,042 (2022 - £49,344). No Committee members received reimbursement of expenses (2022 - the same). There were no other related party transactions.

8. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Freehold
property
£
Cost
At 1 April 2022
795,626
Additions
6,150
At 31 March 2023
801,776
Depreciation
At 1 April 2022
151,547
Charge for the year
14,645
At 31 March 2023
166,192
Net book value
At 31 March 2022
644,079
£
At 31 March 2023
635,584
£
Freehold land included above not depreciated		 Centre
furniture &
equipment
£
82,899
-
82,899
70,442
4,103
74,545
12,457
£
8,354
**£ **		 Office
equipment
£
4,415
-
4,415
4,414
-
4,414
1
£
1
**£ **		 Total
£
882,940
6,150
889,090
226,403
18,748
245,151
656,537
_£ _
643,939
**£ **
75,000
**£ **

The property, which was purchased in March 2002, had a covenant placed on the premises by the vendors which ensures that the building stays in community ownership for 25 years.

9.
DEBTORS
Due within one year
Fees receivable
Sundry debtors		 2023
£
9,701
3,590
13,291
**£ **		 2022
£
9,098
590
9,688
_£ _

15

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

10.
**11. **		 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loan (see Note 11)
Social security and other taxes
Pension contributions payable
Deposits held
Accruals
Deferred nursery income (see below)
Deferred nursery income
Balance at 1 April 2022
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2023
CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Bank loan falling due after one year
Add: Amount due in one year (see below and Note 10)
Total amount of loan
Amount falling due after more than 5 years		 2023
£
2,955
7,916
5,409
37,224
13,261
4,360
71,125
£
8,235
(8,235)
4,360
4,360
£
2023
£
243,388
2,955
246,343
£
229,364
**£ **		 2022
£
8,717
8,549
5,464
34,513
15,219
8,235
80,697
_£ _
13,365
(13,365)
8,235
8,235
_£ _
2022
£
243,818
8,717
252,535
_£ _
233,232
_£ _

The bank loan, which is from Barclays Bank, (including the amount due in one year shown in Note 10) is secured by a charge over 76 Shacklewell Lane, Hackney, London E8 2EY. The debt is repayable by monthly instalments, bears interest of 2.71% over the bank's base rate and is due to be fully repaid by October 2040.

12. RECONCILIATION OF NET INCOME/(EXPENDITURE)
TO NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the year
Adjustments for:
Depreciation charges
Interest received
Interest paid
(Increase)/decrease in debtors
Decrease in creditors
Net cash provided by operating activities		 2023
£
28,831
18,748
(2,119)
12,145
(3,603)
(3,810)
50,192
**£ **		 2022
£
4,813
20,492
(525)
7,410
8,391
(11,098)
29,483
_£ _

16

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

13. STATEMENT OF FUNDS

STATEMENT OF FUNDS
2023
SUMMARY OF FUNDS
Designated fund -
fixed assets
General Fund
Restricted Fund - nursery
running costs		 Brought
Forward
£
403,999
171,357
575,356
-
575,356
**£ **		 Incoming
Resources
£
-
514,919
514,919
136,219
651,138
**£ **		 Resources
Expended
£
-
(486,088)
(486,088)
(136,219)
(622,307)
£		 Transfers
£
(6,406)
6,406
-
-
Nil
£		 Carried
Forward
£
397,593
206,594
604,187
-
604,187
**£ **

The Designated fixed assets fund represents money tied up in the Charity's fixed assets after taking into account that part of the cost financed by the bank loan (see Note 11).

2022
SUMMARY OF FUNDS
Designated Fund -
fixed assets
General Fund
Restricted Fund - nursery
running costs		 Brought
Forward
£
412,158
158,385
570,543
-
570,543
_£ _		 Incoming
Resources
£
-
469,309
469,309
147,002
616,311
_£ _		 Resources
Expended
£
-
(464,496)
(464,496)
(147,002)
(611,498)
£		 Transfers
£
(8,159)
8,159
-
-
Nil
£		 Carried
Forward
£
403,999
171,357
575,356
-
575,356
_£ _

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

At the year-end all assets and liabilities belonged to unrestricted funds (2022 - the same).

17

THE BATH HOUSE CHILDREN'S COMMUNITY CENTRE

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023

15. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES FOR YEAR ENDED 31 MARCH 2022

Notes
INCOME FROM:
2
Investments - deposit account interest
3
TOTAL INCOMING RESOURCES
EXPENDITURE ON CHARITABLE ACTIVIES
Direct costs of nursery
4
Support costs
5
TOTAL RESOURCES EXPENDED
RECONCILIATION OF FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD
Donations and voluntary grants
Other
Charitable activities
Net income/(expenditure) before transfer		 Unrestricted
Funds
2022
£
66,319
525
399,620
2,845
469,309
291,035
173,461
464,496
4,813
575,356
580,169
_£ _		 Restricted
Funds
2022
£
10,350
-
136,652
-
147,002
147,002
-
147,002
-
-
Nil
£		 Total
Funds
2022
£
76,669
525
536,272
2,845
616,311
438,037
173,461
611,498
4,813
570,543
575,356
_£ _

18