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|||Page|
|---|---|---|
|Legal &administrative|information||
|Report ofthe Trustees||2 —9|
|Independent
Auditor's|report|IO —12|
|Accounts comprising:|||
|Consolidated
Statement offinancial activities||13|
|Consolidated
Balance|sheet|14|
|Consolidated
Statement ofcashflows||15|
|Notes to the accounts||16-29|
##
|Trustees||Susan McKee (Chair)|Susan McKee (Chair)|Susan McKee (Chair)|||
|---|---|---|---|---|---|---|
|||Naomi Delap|||||
|||Simon Riley (Treasurer||||and Vice-Chair)|
|||Natalie Meguerditchian|||||
|||Emma Brady|||||
|Key Management||Dawn Jacovou (Chief|||Executive)||
|||Joanna Lawrence|(Deputy Executive)||||
|Registered|ofBce|Quaggy Childrens||Centre|||
|||Orchard Hill|||||
|||London|||||
|||SE137QZ|||||
|Bankers||National
Westminster|||Bank Pic||
|||143High Street|||||
|||Bromley|||||
|||BR1 1JH|||||
|Auditor||Simpson Wreford|LLP||||
|||Wellesley House|||||
|||Duke ofWellington||Avenue|||
|||Royal Arsenal|||||
|||London|||||
|||SE186SS|||||
|Company|number|04749158|||||
|Charity number||1109711|||||
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|||||2021|2021|2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||Notes|||8|||
|Income||||||||
|ona ions an
legacies||||98|4T000|47,098|47,790|
|Charitable
activities||||959,519|2,210,675|3,170,194|2,161,571|
|Investment
income||||21,661||21,661|16,547|
|Other trading
activities||||24,966||24,966|55,326|
|Other income||||2 046||2 046|3 069|
|Total income||||||||
|Expenditure||||||||
|Raising funds||||39,101||39,101|65,350|
|Charitable
activities||||1 108 150|1 925 399|3 033 549|2 032 418|
|Total expenditure||||||||
|Net (expenditure)/income||||(138,961)|332776|193,315|186,535|
|Transfer between
funds|||16|243 828|~243 828|||
|Net income before other||||||||
|recognised
gains and losses||||||||
|Other recognised
gains|and|losses||||||
|Gains on investment
assets|||||||45,000|
|Actuarial
(losses)/gains|on|||||||
|Defined benefit pension|scheme||17|~101090||~101090|42487|
|Net movement
in funds||||3,777|88,448|92,225|274,022|
|Reconciliation
offunds||||||||
|Total funds brought
forward||||1 875 574|256 838|2 132412|1 858390|
|Total funds carried forward|||16||||~224 2|
##
##
||||||||Group|Group|Charity|Charity|
|---|---|---|---|---|---|---|---|---|---|---|
|||||||Notes|2021|2020|2021|2020|
|Fixed assets|||||||||||
|Tangible assets||||||11|256,612|279,431|256,423|278,702|
|Investments||||||12|966038|475 000|966039|475 001|
||||||||1 222 65n|75d, d31|1,222,462|753 7A3|
|Current
assets|||||||||||
|Stock||||||13|188|188|||
|Debtors||||||14|46,755|652,448|122,215|751,579|
|Cash at bank||and in|hand||||1529477|1507210|1525637|1544374|
||||||||1,576,420|2,239,916|1,647,852|2,295,953|
|Creditors:|amounts||falling||due within||||||
|one year||||||15|3383354)|~79II381)|~379203|~792 4311|
|Net current||assets|||||I 193066|I 441 535|I 268 649|I 503 523|
|Total assets||less current||liabilities|||2,415,716|2,195,966|2,491,111|2,257,226|
|D ll
0 0||010|I||0|17|JI911179)|~63 554|~191079)|363 554)|
|Total assets||less liabilities|||||||||
|Funds|||||||||||
|Unrestricted||general|funds||||1,677,766|1,610,435|1,753,161|1,671,695|
|Designated|fund|||||||63,554||63,554|
|Unrestricted||revaluation||reserve|||201,585|201,585|201,585|201,585|
|Restricted funds
Total funds||||||16|345286
~|256830
~24|345 286|256 838|
##
##
|||||||Notes|2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||f||
|Cash generated
by|operating|activities||||21|||
|C~H
6
=|6||||||||
|Interest income|||||||1,663|1,275|
|Purchase ofinvestment
property
Purchase oftangible fixed assets|||||||(491,038)
~15266|~36447|
|Cash used in investing
activities|||||||&~49||
|(Decrease)/increase|in cash and||cash equivalents||in the year||~57 363|253 594|
|Cash and cash equivalents
at the|||beginning|ofthe|year||1 587 280|1 333 685|
|Total cash and cash|equivalents||at the end|ofthe|year||||
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
||Income||||||3,240,999|2,228,977|
||Expenditure||||||i3~033 349|~2032418|
||||||||207,450|196,559|
||Gains/(losses)|||on investment||assets||45,000|
||Actuarial
(losses)/gains||||on defined benefit pension scheme||~101090|42482|
||Net income||||||106,360|284,046|
||Funds brought|||forward|||2 193672|I 909626|
||Total funds|carried forward|||||||
||Represented||by:||||||
||Restricted|funds|||||345,286|256,838|
||Unrestricted||funds||||I 954 746|I 936834|
|3.|Donations|income|||||||
||||||||2021|2020|
||Notional rent||-|restricted|||47,000|47,000|
||Other donations|||-unrestricted|||98|790|
##
##
||||Unrestricted|Restricted|||
|---|---|---|---|---|---|---|
||||Funds|Funds|Total|Total|
||||2021
E|2021
8|2021f|2020|
|Nur|||8374068||8374068|I.3.46366|
|Start Well Greenwich||West connact||2,162,641|2,162,641|879,431|
|Other grant income|||69,381|48,034|117,415|49,340|
|Catering income|||182||182|1,115|
|Other community|work income||22,042||22,042|64,009|
|Other Children's|Centre income||36 346||30 846|21 131|
|5.|Investment|income||||
|---|---|---|---|---|---|
|||||2021|2020|
|||||E||
||Rental income|||19,998|15,272|
||Bank interest|||1 663|1 275|
||All amounts|relate to unrestricted|funds.|||
##
|||||2021|2020|
|---|---|---|---|---|---|
|Turnover
and other operating||income||24,966|55,326|
|Cost ofsales and|administrative|expenses||~39 101|~65 350|
|Net loss retained|in subsidiary|||||
|The assets and liabilities ofthe subsidiary|||were:|||
|Fixed assets||||189|729|
|Current
assets||||4,028|45,155|
|Current liabilities||||~79 611|~107 143|
|Total net liabilities||||||
|Aggregate
share|capital and reserves|||||
##
|7.|Operating
profit||||||
|---|---|---|---|---|---|---|
||||||2021|2020|
||This is stated afier charging:||||||
||Depreciation ofowned|fixed assets|||38,085|36,203|
||Auditor's
remuneration||||||
||Audit of|the financial statements|||5,500|5,500|
||Other services||||1,748|1,748|
|8.|Raising funds expenditure||||||
||||||2021|2020|
||Commercial
trading operations —note 6||||39,101|65,350|
||Fundraising
expenditure||||||
||||||39 101|65 350|
|9.|Charitable
activities|expenditure|||||
||||Unrestricted|Restricted|Total|Total|
||||funds|funds|2021|2020|
|||||||f|
||StafFcosts including
expenses||862,086|577,439|1,439,525|1,437,962|
||Subcontract costs|||1,058,311|1,058,311||
||Premises, utilities and equipment||122,050|122,070|244,120|207,817|
||Community
activities||13,903|68,811|82,714|172,560|
||Nursery
and crdche||23,169|686|23,855|53,886|
||Office, computers
and|communications|29,510|48,242|77,752|42,724|
||Legal and professional|||40,189|40,189|57,130|
||Depreciation||37,545||37,545|36,205|
||Sundry expenses||12,449|5,499|17,948|11,036|
||Audit and accountancy|fees|7438|4 152|11590|13098|
##
##
|Staffwage costs wer|e as follows:|||
|---|---|---|---|
|||2021|2020|
|||f|f|
|Salaries and wages||1,107,759|1,138,902|
|Key management
remuneration||141,896|144,356|
|Social security costs||107,361|106,262|
|Defined contribution|pension costs|21,655|22,532|
|Pension service cost||25 516|22 013|
|The ave|rage|monthly
|number ofemployees
during the ye|ar was as follows:||
|---|---|---|---|---|---|
|||||2021|2020|
|||||No.|No.|
|Nursery|and|Children|Centre staff'|41|41|
|Management||and administration||14|14|
|Other support||services||4|4|
|Quaggy|Cafe|at Parkside||2|2|
##
||Leasehold|Office|Plant gr|Kitchen||
|---|---|---|---|---|---|
||improvements|equipment|machinery
f|equipment
f|Total
f|
|Cost or valuation||||||
|At 1 April 2020|302,355|139,826|78,381|1,728|522,290|
|Additions||15,266|||15,266|
|Disposals||||||
|At 31March 2021||||||
|Depreciation||||||
|At
1 April 2020|60,472|103,007|78,381|999|242,859|
|Charge for the year|20 156|17389||540|38085|
|At 31March 2021||||||
|Net book value||||||
|At 31March 2021|221 727|34696||189|256 612|
|At 31 March 2020|241 883|36819||729|279431|
##
|11.Tangible fix|ed assets
—Charily|||||
|---|---|---|---|---|---|
|||Leasehold|Oflice|Plant &||
|||improvements|equipment|machinery|Total|
||||f|||
|Cost or valuation||||||
|At 1 April 2020||302,355|139,826|78,381|520,562|
|tions|||15,266||15,266|
|Disposals||||||
|At 31March|2021|||||
|Depreciation||||||
|At
1 April 2020||60,472|103,007|78,381|241,860|
|Charge for the year||20 156|17389||37 545|
|At 31March|2021|||||
|Net book value||||||
|At 31March|2021|221 727|34 696||256 423|
|At 31March 2020||241 883|36819||278 702|
|12. Investments|- Group|||||
|||||Investment||
|||||properties|Total|
|Valuation||||||
|At
1 April 2020||||475,000|475,000|
|Additions||||491 038|491 038|
|At 31March 2021||||||
|Charily||||||
|||||Investment||
|||Investments||properties|Total|
|Valuation||||||
|At
1 April 2020||||475,000|475,001|
|Additions||||491 038|491 038|
|At 31March 2021||||||
##
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##
|14.Debtors|||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
||||||||Group||Charity||
||||||||2021|2020f|2021
f|2020|
|Trade debtors|||||||18,058
144811|607,162
167756|18,058
S43111|605,162
1.64%~|
|Amounts
owed|by group|||undertakings|||||75,460|101,193|
|Prepayments
and accrued||||income|||13886|28 530|13886|28 530|
|||||||||~4|~22||
|15.Creditors|||||||||||
||||||||Group||Charity||
||||||||2021|2020|2021|2020|
||||||||f|f|f|f|
|Trade creditors|||||||51,089|63,138|50,922|60,853|
|Accruals and deferred|||income||||291,258|69,955|287,274|66,289|
|Other creditors|||||||41 007|665 288|41 007|665 288|
|16.Reserves|||||||||||
||||At||beginning|Incoming|Resources|Gains &|At|31March|
|||||ofperiod||resources|expended|losses
f|Transfers|2021|
|Unrestricted funds|||||||||||
|General funds (gross)|||||1,610,435|1,008,290|(1,147,251)|(101,090)|498,461|1,868,845|
|Pension liability|||||||||~191079|~191079|
|General funds (net)|||||1,610,435|1,008,290|(1,147,251)|(101,090)|307,382|1,677,766|
|Revaluation
reserve|||||201,585|||||201,585|
|Designated
fund|||||63 554||||~63 554||
|7 t I
\
7 df|||d||I 875 574|1008290|~1147251|~101090|243 828|I 879351|
|Restricted funds|||||||||||
|Children-in-need||||||22,087|(13,532)|||8,555|
|RBGPerinatal|grant||||13,010|13,957|(420)|||26,547|
|Notional rent -|QCC|||||22,250|(22,250)||||
|Notional rent
—MBN||||||24,750|(24,750)||||
|Lewisham
Council||grant||||2,000|(2,000)||||
|London Comm.|Foundation|||||9,990|(9,990)||||
|RBGWest area|CC||||243,828||||(243,828)||
|RBGWest area|SWG|||||2 162 641|~1852457|||310184|
|7 t I
t
t df||d|||256 838|2 257 675|~1925 399||{2243828|345 286|
|Total funds||||||~2|(3,~62))|ll¹2$|||
##
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|||||
|---|---|---|---|
|Principal
Activity Assumptions||||
|||2021|2020|
|||0/|0/|
|Rate ofincrease in salaries||3.80|2.75|
|Rate ofincrease in pensions||2.80|1.75|
|Discounted
rate for liabilities||2.05|2.35|
|Inflation rate||2.80|1.75|
|The return on the Fund is estimated|to be -7%|||
##
##
##
|. Pension commitments
—gro|. Pension commitments
—gro|up|and chari|ty (continued)|||
|---|---|---|---|---|---|---|
|Mortality
assumptions|||||||
|The assumed
life expectations||on|retirement|at age 65 are:|||
||||||2021|2020|
|Retiring today|||||||
|Males|||||20.9|20.8|
|ema es|||||23.6|23.5|
|Retiring in 20years|||||||
|Males|||||22.4|22.3|
|Females|||||25.2|25.1|
|Analysis ofamounts|recognised|in|the Statement ofFinancial Activities||||
||||||2021|2020|
|Current service cost|||||40,891|22,013|
|Net interest on defined benefit||liability|||1,664|2,077|
|Administration
expenses|||||65|58|
|Total expenditure
to|be recognised||in the SOFA||42
2|24 14|
|Value ofscheme assets and liabilities|||||||
||||||2021|2020|
|Equities|||||13,174|6,285|
|Bonds|||||23,812|13,041|
|Property|||||12,615|7,713|
|Cash|||||1,774|1,104|
|Unutilised
insurance|policies||||55,595|25,548|
|UK &Overseas unit|trusts||||35400|15004|
|Market value ofassets|||||142,370|68,695|
|Present value ofscheme liabilities|||—funded||~333449|~132249|
|Net pension deficit|in scheme||||||
##
##
|.Pension commitments
—group and charity (continued)|||
|---|---|---|
|Analysis ofamount chargeable
to the Statement ofFinancial Activities|(SOFA)||
||2021|2020|
||f||
|ef~~lil
exces& ox inieresb||(6355)|
|Other actuarial gains/(losses)
on assets||(1,677)|
|Change in financial
assumptions|(123,969)|26,169|
|Change in demographic
assumptions||15,670|
|Experience gain on defined benefit obligation||8,660|
|Actuarial
losses on scheme liabilities|||
|Actuarial
(loss)/gain
recognised|||
|Movements
inpresent value ofdejined benejit obligations:|||
||2021|2020|
|||g|
|Liabilities at I April 2020|132,249|152,869|
|Current service cost|25,516|19,482|
|Contributions
&om scheme members|6,536|4,071|
|Change in financial
assumptions|123,969|(26,169)|
|Change in demographic
assumptions||(15,670)|
|Liabilities
assumed
on settlements|41,034||
|Experience
gain on defined benefit obligation||(8,660)|
|Past service cost||2,531|
|Interest cost|4 145|3 795|
|At 31March 2021||~22|
|Movements
in thefair value ofFund assets|||
||2021|2020|
||g||
|Fair value ofassets at 1 April 2020|68,695|65,229|
|Interest on assets|2,481|1,718|
|Return
on assets less interest|22,879|(6,335)|
|Actuarial loss||(1,677)|
|Administration
expenses|(65)|(58)|
|Settlement
prices received
/ (paid)|25,659||
|Connibutions
by employer|16,185|5,747|
|Contributions
by scheme members|6536|4071|
|Fair value ofassets at 31March 2021|||
##
##
##
|the Nur|sery|at Parkside
Square, Lewisham, SE108FN as s|et out below:||
|---|---|---|---|---|
||||2021|2020|
|Falling|due|within one year|112,000|112,000|
|Falling|due|between two and five years|112000|224 000|
##
|.Analysis ofgroup net assets between fun|ds|||
|---|---|---|---|
||Unrestricted|Restricted||
||funds|funds|Total|
|202I||||
|Fixed assets|1,222,650||1,222,650|
|Cash at bank and in hand|1,184,191|345,286|1,529,477|
|Other net current liabilities|(336,411)||(336,411)|
|Pension scheme provision|~191079||~191079|
|2020||||
|Fixed assets|754,431||754,431|
|Cash at bank and in hand|1,330,441|256,839|1,587,280|
|Other net current liabilities|(145,745)||(145,745)|
|Pension scheme provision|~63 554||~63 554|
##
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##
||||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|---|
|Net movement
in funds|||||||||92 225|274 022|
|Depreciation
charge|||||||||38,085|36,446|
|Interest shown as investment||income|||in SOFA||||(1,663)|(1,275)|
|Revaluation
gain||||||||||(45,000)|
|Increase/(decrease)
in defined||benefit|||pension|liability|||127,525|(24,086)|
|Increase in stock|||||||||||
|Decrease/(increase)
in debtors|||||||||605,693|(553,865)|
|(Decrease)/increase
in creditors|||||||||~475 027|602 524|
|Net cash generated
by operating|||activities||||||||
|Comparative
information|||||||||||
|||||||||Unrestricted|Restricted||
|||||||||Funds|Funds|Total|
|Analysis ofIncome from charitable||||activities||byfund (note 4)|||||
|Nursery
and crbche fees||||||||1,146,545||1,146,545|
|Greenwich
West Children's|Centre|||contract|||||879,431|879,431|
|Other grant income|||||||||49,340|49,340|
|Catering income||||||||1,115||1,115|
|Other community
work income||||||||64,009||64,009|
|Other Children's
Centre income||||||||21 131||21 131|
|||||||||M232~|||
|Analysis
ofExpenditure
on|chantable||||activities||by fund (note|6)|||
|Staffcosts including
expenses||||||||790,177|647,785|1,437,962|
|Premises,
utilities
and equipment||||||||98,054|109,763|207,817|
|Community
activities||||||||38,369|134,191|172,560|
|Nursery
and creche||||||||52,682|1,204|53,886|
|Office, computers
and communications||||||||30,666|12,058|42,724|
|Legal and professional||||||||243|56,887|57,130|
|Depreciation||||||||36,205||36,205|
|Sundry expenses||||||||7,963|3,073|11,036|
|Audit and accountancy
fees||||||||7408|5 690|13098|
##