2022-03-31-accounts

			Page
Legal & administrative		information
Report ofthe	Trustees		2 —7
Independent	Auditor's	report	8 —10
Accounts comprising:
Consolidated	Statement offinancial activities
Consolidated	Balance	sheet	12
Consolidated	Statement ofcashflows		13
Notes to the	accounts		14-27

Trustees '	Susan McKee (Chair)	Susan McKee (Chair)	Susan McKee (Chair)
	Naomi Delap
	Simon Riley (Treasurer and Vice-Chair)
	Natalie Meguerditchian
	Beatrice Panduru
Key Management	Dawn Jacovou (Chief			Executive)
	Joanna Lawrence (Deputy Executive)
Registered office	Quaggy Childrens	Cenke
	Orchard Hill
	London
	SE137QZ
Company Secretary	Timothy Rogerson	FCA
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

					2022	2022	2022	2021
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
			Notes
Income
Donations and legacies					996	52,000	52,996	47,098
Charitable activities					682,323	2,305,393	2,987,716	3,170,194
Investment income					35,475		35,475	21,661
Other trading activities					28,848		28,848	24,966
Other income					4.846		4 846	2 046
Total income
Expenditure
Raising funds					41,445		41,445	39,101
Charitable activities					918201	1 955 025	2 873.226	3 033 549
Total expenditure						~55,022	2~4	3~2
Net (expenditure)/income		before			(207,158)	402,368	195,210	193,315
Other recognised gains	and		losses
Other recognised gains	and		losses
Gains on investment assets
Actuarial gains/(losses)	on
Defined benefit pension	scheme			17	14010		14010	~101090
Net movement in funds					(193,148)	402,368	209,220	92,225
Reconciliation offunds
Total funds brought forward					I 879351	345 286	~224 637	2 132412
Total funds carried forward				16	~1.6M	~654	2~33. 7	2~24 637

					Group	Group	Charity	Charity
				Notes	2022	2021	2022	2021
Fixed assets
Tangible assets				11	213,610	256,612	213,610	256,423
Investments				12	973 138	966038	973 139	966039
					1,186,748	1,222,650	1,186,749	1,222,462
Current assets
Stock				13	188	188
Debtors				14	27,205	46,755	136,201	122,215
Cash at bank	and in	hand			1.7D71D1	1529477	1682852	1525637
					1,734,494	1,576,420	1,819,053	1,647,852
Creditors: amounts		falling due within
one year				15	~310316)	~383 354	~306 883)	~379 03)
Net current	assets				1424.178	1193066	1512.170	1268649
Total assets	less current		liabilities		2,610,926	2,415,716	2,698,919	2,491,111
Defined benefit pension scheme Total assets less liabilities				17	~177069)	~191079)	~177069) 2~21	~191079) 2~
Funds
Unrestricted	general	funds			1,484,618	1,677,766	1,572,487	1,753,161
Unrestricted	revaluation		reserve		201,585	201,585	201,585	201,585
Restricted funds Total funds				16	747.654 2~43	345286 ~47	747 778 ~21	345 286 2~30032

		Notes	2022	2021
Cash generated by operating activities		21		~44
Cash flows from investing activities
Interest income			87	1,663
Purchase ofinvestment property Purchase oftangible fixed assets			(7,100) ~2133	(491,038) ~132663
Cash used in investing activities			~9~4	~MWI
Increase/(decrease) in cash and cash equivalents	in the year		~17 624	~5803
Cash aud cash equivalents at'the beginning ofthe year			1529.477	1 587280
Total cash and cash equivalents at the end ofthe	year

				2022	2021
				g
Income				3,081,033	3,240,999
Expenditure				(2~873 225	(3~033549
				207,808	207 450
Gains/(losses)	on investment		assets
Actuarial gains/(losses)		on defined benefit pension scheme		14010	~101090
Net income				221,818	106,360
Funds brought	forward			2300032	2 193672
Total funds carried forward				~52
Represented by:
Restricted funds				747,778	345,286
Unrestricted funds				I 774072	1 954746 2~2
Donations income
				2022	2021
Notional rent -	restricted			47,000	47,000
Other donations	- restricted			5 000
Total restricted				52,000	47,000
Other donations	- unrestricted			996	98
Total donations					~4

Charitable	activit	ies	in	come
					Unrestricted	Restricted
					Funds	Funds	Total	Total
					2022	2022	2022	2021
							8	8
Nursery and	creche fees				654,946		654,946	837,068
Start Well Greenwich			West contract			2,236,219	2,236,219	2,162,641
Other grant income						69,174	69,174	117,415
Catering income Other community		work		income	522 ~2~ ~X323.	2~	522 ~2	182
Comparative	information			regarding	funds is shown in note	22.
Investment	income
							2022	2021
								8
Rental income							35,388	19,998
Bank interest							87	1 663
								~2
All amounts	relate	to	unrestricted		funds.

Quaggy Childrens	Centre. Th	e summary	financial performance	ofthe subsidiary alone	is:
				2022	2021
Turnover and other operating		income		28,848	24,966
Cost ofsales and	administrative	expenses		~41 445	~39 101
Net loss retained	in subsidiary
The assets and liabilities ofthe subsidiary			were:
Fixed assets					189
Current assets				25,046	4,028
Current liabilities				~113038	(779611
Total net liabilities
Aggregate share	capital and reserves

7.	Operating profit					2022	2021
	This is stated after charging:
	Depreciation ofowned	fixed assets				45,135	38,085
	Auditor's remuneration
	Audit ofthe financial		statements			7,500	5,500
	Other services					807	1,748
8.	Raising funds expenditure					2022	2021
	Commercial trading operations —note 6					41,445	39,101
	Fundraising expenditure					~41	~1
9.	Charitable activities	expenditure
				Unrestricted	Restricted	Total	Total
				funds	funds	2022	2021
					8	8	8
	Staffcosts including expenses			764,540	558,813	1,323,353	1,439,525
	Subcontract costs				1,064,463	1,064,463	1,058,311
	Premises, utilities and equipment			31,656	148,931	180,587	244,120
	Community activities			13,274	110,265	123,539	82,714
	Nursery and cr6che			29,605	5,431	35,036	23,855
	Ofnce, computers and	communications		18,461	45,022	63,483	77,752
	Legal and professional Depreciation			994 44,946	9,668	10,662 44,946	40,189 37,545
	Sundry expenses Audit and accountancy	fees		8,087 6638 ~2	8,361 4071 ~	16,448 10709 ~22	17,948 11590

Staffwage costs were	as follows:
		2022	2021
Salaries and wages		1,067,260	1,107,759
Key management remuneration Social security costs		144,164 97,967	141,896 107,361
Defined contribution	pension costs	19,428	21,655
Pension service cost		14538	25 516

The average monthly	number ofemployees durin	g the year w	as as follows	:
				2022	2021
				No.	No.
Nursery and Children	Centre staff			38	41
Management and administration				12	14
Other support services Quaggy Cafd at Parkside				2 2	4 2
.Tangible fixed assets	-Group
	Leasehold	Office	Plant &	Kitchen
	improvements	equipment	machinery	equipment	Total
			8	g
Cost orvaluation
At 1 April 2021	302,355	155,092	78,381	1,728	537,556
Additions		2,133			2,133
Disposals
At 31March 2022
Depreciation At 1 April 2021 Charge for the year	80,628 29674	120,396 15272	78,381	1,539 189	280,944 45 135
At 31March 2022		6
Net book value
At31March 2022	192053	21 557			213610
At 31 March 2021	221 727	34696		189	256612
		20

11.Tangible fixed assets - Charity
	Leasehold	Office	Plant &
	improvemeats	equipment	machinery	Total
Cost orvaluation
At 1April 2021	302,355	155,092	78,381	535,828
Additions		2,133		2,133
Disposals
At 31March 2022		~122
Depreciation
At 1 April 2021	80,628	120,396	78,381	279,405
Charge for the year	29674	15272	-	44 946
At 31March 2022	~10
Net book value
At '31 March 2022	192053	21 557		213610
At 31March 2021	221 727	34 696		256 423
12. Investments -Group
			Investment
			properties	Total
Valuation
At 1April 2021			966,038	966,038
Additions			7 100	7 100
At 31March 2022
Charity
			Investment
	Investments		properties	Total
Valuation
At 1 April 2021			966,038	966,039
Additions			7 100	7 100
At 31March 2022

14.Debtors
					Group		Charity
					2022	2021	2022		2021
					8	f.			8
Trade debtors					1,354	18,058	745		18,058
Other debtors					12,351	14,811	12,351		14,811
Amounts owed by group Prepayments and accrued		undertakings income			13500	13886	109,605 13500	75,460 13886
15.Creditors
					Group		Charity
					2022	2021	2022		2021
						8			f.
Trade creditors					24,309	51,089	24,309	50,922
Accruals and deferred income					245,084	291,258	241,651	287,274
Other creditors					40923	41 007 ~4	40923	41 007
16.Reserves
		At	1April	Incoming	Resources	Gains k.	At	31	March
			2021	resources	expended	losses	Transfers		2022
									8
Unrestricted funds
General funds (gross) Pension liability		1,868,845 ~191079		752,488	(959,646)	14,010	(14,010) 14010	1,661,687
General funds (net)		1,677,766		752,488	(959,646)	14,010		1,484,618
Revaluation reserve		201 585						~201 58
24 I ILI dt	6	~19351		~5	~95 646	14010		1 686203
Restricted funds
Children-in-need			8,555	44,173	(47,531)				5,197
RBGPerinatal grant			26,547		(4,577)				21,970
Notional rent - QCC				22,250	(22,250)
Notional rent - MBN				24,750	(24,750)
Lewisham Council	grants			20,000	(20,000)
RBGCouncil grant				5,000	(5,000)
Hardship Grant				5,000	(2,058)				2,942
RBGWest area SWG		310184		~2236 2	~1828 859			717545
2 I I I I t df	d	345 286		2~5393	~1955PgS			~74
Totalfunds					QK4,~1			~4

Principa/ Activity Assuinptions	2022	2021
		O/
Rate ofincrease in salaries	4.05	3.80
Rate ofincrease in pensions	3.05	2.80
Discounted rate for liabilities	2.55	2.05
Inflation rate	2.80	2.80
The return on the Fund is estimated to be 7%

, Pension commitme	nts —gro	up	and chari	ty (continued)
Mortality assumptions
The assumed life expectations		on retirement		at age 65 are:
					2022	2021
Retiring today
Males					20.5	20.9
Females					23.4	23.6
Retiring in 20years
Males					22.0	22.4
Females					25.0	25.2
Analysis ofamounts	recognised	in	the Statement ofFinancial Activities
					2022	2021
					g
Current service cost					41,723	40,891
Net interest on defined benefit		liability			3,769	1,664
Administration expenses					109	65
Total expenditure to	be recognised		in the SOFA		~4601
Value ofscheme assets and liabilities
					2022	2021
						8
Equities					99,049	13,174
Bonds					30,017	23,812
Property					18,908	12,615
Cash					4,344	1,774
Unutilised insurance	policies					55,595
UK lit Overseas unit	trusts				21 332	35400
Market value ofassets					173,650	142,370
Present value ofscheme liabilities			—funded		~350719	~333449
Net pension deficit	in scheme

Analysis ofamount chargeable to the State	ment ofFinancial Activiti	es (SOFA)
		2022	2021
Return offund assets in excess of interest		7,710	22,879
Other actuarial gains/(losses) on assets
Change in financial assumptions		32,570	(123,969)
Change in demographic assumptions		5,832
Experience (loss)/gain on defined benefit obligation		(1,039)
Actuarial losses on scheme liabilities
Remeasurement ofthe net assets/(defined	liability)
Movements inpresent value ofdefined benefit obligations:
		2022	2021
Liabilities at 1 April 2021		333,449	132,249
Current service cost		41,723	25,516
Contributions Irom scheme members		6,013	6,536
Change in financial assumptions		(32,570)	123,969
Change in demographic assumptions Liabilities assumed on settlements		(5,832)	41,034
Experience gain on defined benefit obligation		I;039
Past service cost
Interest cost At 31March 2022		6897 ~I	4 145 ~44
Movements in thefair value ofFund assets
		2022	2021
			8
Fair value ofassets at I April 2021		142,370	68,695
Interest on assets		3,128	2,481
Return on assets less interest		7,710	22,879
Actuarial loss
Administration expenses		(109)	(65)
Settlement prices received / (paid) Contributions by employer Contributions by scheme members		]4,538 6013	25,659 16,185 6536
Fair value ofassets at31March 2022			~42

.Other financial commitments
At the year end the Charity had annual	commitments	under non-cancellable	operating	lease in relation to
the Nursery at Parkside Square, Lewisham, SEI0 8FN		as set out below:	2022	2021
			8
Falling due within one year Falling due between two and five years Falling due in more than five years			28,000 112,000 98000 2~	28,000 112,000 ~12
All operating lease payments are charged to the SOFA		as they fall due.
.Analysis ofgroup net assets between	funds	Unrestricted	Restricted
		funds	funds	Total
2022'
Fixed assets		1,186,748		1,186,748
Cash at bank and in hand		959,141	747,960	1,707,101
Other net current liabilities		(282,923)		(282,923)
Pension scheme provision		~177009		~177069
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		~197079		~191079

									2022	2021
									8
Net movement in funds									209,220	92,225
Depreciation charge									45,135	38,085
Interest shown as investment		income			in SOFA				(87)	(1,663)
(Decrease)/increase in defined		benefit			pension	liability			(14,010)	127,525
Decrease/(increase) in debtors (Decrease)/increase in creditors									19,550 ~73038	605,693 ~415 027
Net cash generated by operating			activities
Comparative information
								Unrestricted	Restricted
								Funds	Funds	Total
									8
Analysis ofIncomePom charitable				activities		byfund (note	4)
Nursery and creche fees								837,068		837,068
Greenwich West Children's	Centre			contract					2,162,641	2,162,641
Other grant income								69,381	48,034	117,415
Catering income								182		182
Other community work income								22,042		22,042
Other Children's Centre income								30846		30846
									+~106 5
Analysis ofExpenditure on	charitable				activities byfund (note			9)
Staffcosts including expenses								862,086	577,439	1,439,525
Subcontract									1,058,311	1,058,311
Premises, utilities and equipment								122,050	122,070	244,120
Community activities								13,903	68,811	82,714
Nursery snd creche								23,169	686	23,855
Office, computers and communications								29,510	48,242	77,752
Legal and professional Depreciation								37,545	40,189	40,189 37,545
Sundry expenses Audit and accountancy fees								12,449 7438 ~	.5,499 4 152 %~23	17,948 11590