## ## ||||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| ##