2023-03-31-accounts

		Page
Legal dh 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		Natalie Meguerditchian	Natalie Meguerditchian		(Chair)
		Naomi Delap
		Simon Riley (Treasurer			and Vice-Chair)
		Beatrice Panduru
Key Management		Dawn Jacovou (Chief		Executive)
		Joanna Lawrence (Deputy Executive)
Registered	oflice	Quaggy Childrens	Centre
		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
		SE1g 6SS
Company	number	04749158
Charity number		1109711

					2023	2023	2023	2022
					Unrestricted	Restricted	Total	Total
					funds	funds	funds	funds
			Notes					g
Income
Donations and legacies					1,087	82,200	83,287	52,996
Charitable activities					717,203	1,331,094	2,048,297	2,987,716
Investment income					54,546		54,546	35,475
Other trading activities					57,339		57,339	28,848
Other income ' Total income					5 111 ~82	~24	5 1.11 2~24	4 846 ~31 I
Expenditure
Raising funds				8	88,411		88,411	41,445
Charitable activities				9	947905	965260	1913165	2 873 226
Total expenditure					~10
Net (expenditure)/income		before			'(201,030)	448,034	247,004	195,210
gains and losses on investments
Net gains and losses on investments Losses on investment assets					~16004		~16004
Net (expenditure)/income					(217,034)	448,034	231,000	195,210
Transfers between f'unds					151,400	(151,400)
Other recognised gains	and		losses
Actuarial gains/(losses) Defined bene&t pension	on scheme			17	177069	~7284	169785	14010
Net movement in funds					111,435	289,350	400,785	209,220
ReconciTiation offunds
Total funds brought forward					1 686203	747 654	2433 857	2224 637
Total funds carried forward				16		1~tgl4	2 834642	~2433 5

							Group	Group	Charity	Charity
					Notes		2023	2022	2023	2022
Fixed assets
Tangible assets					11		178,750	213,610	178,750	213,610
Investments					12	1	757 134	973 138	1757135	973139
						1,935,884		1,186,748	1,935,885	1,186,749
Current assets
Stock					13			188
Debtors					14		'36,742	27,205	65,652	136,201
Cash at bank	and in	hand				1133458		1707101	1 104387	I 682 852
						1,170,200		1,734,494	1,170,039	1,819,053
Creditors: amounts		falling		due within
one year					15	~264 158		~310316	~258484	~306883
Net curreht	assets						906042	1424 178	911555	1 512 170
Total assets	less current		IiabiTities			2,841,926		2,610,926	2,847,440	2,698,919
0 0 00 Total assets	1'10 ' less liabilities			0	17	~72114 ~2		~177 1769 2~	~72843 ~156	~177069 ~521 850
Funds
Unrestricted	general	funds				1,612,057		1,484,618	1,617,571	1,572,611
Unrestricted	revaluation		reserve				185,581	201,585	185,581	201,585
Restricted funds						1	037004	747 654	1037004	747 654
Total funds					16	2	834642	2433857	2 840 156	2 521 850

		Notes	2023	2022
			g
Cash generated by operating activities		21
Cash flows from investing activities
Dividends, interest and rents I'rom investments			51,607	35,475
Purchase ofinvestment pmperty				(7,100)
Purchase ofinvestments			(800,000)
Purchase oftangible flxed assets				~2133)
Cash used in investing activities				~26 242
Increase/(decrease) in cash and cash equivalents	in the year		~573&l3	177624
'Cash and cash equivalents at the beginning ofthe year			1	I 529477
Total cash and cash equivalents at the end ofthe	year

			2023	2022
	Income		2,191,241	33081,033
	Expenditure Provision against loan	to Quaggy cafe at Parkside Limited	(1,913,166) ~113550	(2,873,225)
			164,525	207,808
	Losses on investment	assets	(16,004)
	Actttarial gains on defined benefit pension scheme		169785	14010
	Net income		318,306	221,818
	Funds brought forward		2,521 8'50	2300032
	Total funds carried forward		2840 156	2521 850
	Represented by: '
	Restricted funds		1,037,004	747,654
	Unrestricted funds		1 803-152	1 774 196
3.	Donations income
			2023	2022
	Notional rent - restricted		82,000	47,000
	Other donations -restricted,		200	5 000
	Total restricted		82,200	52,000
	Other donations - unrestricted		1 087	996
	Total donations		~3287	52 992

4.	Charitable activities income
			Unrestricted	Restricted
			Funds	Funds	Total
	2023
	Nursery and creche fees		670,940		670,940
	Start Well Greenwich West	contract		1,311,817	1,311,817
	Other grant income			19,277	19,277
	Catering income		83		83
	Other community work income		46 180		46 180
	2022
	Nursery and creche fees		654,946		654,946
	Greenwich West Children's	Cenhe contract		2,236,219	2,236,219
	Other grant income			69,174	69,174
	Catering income		522	-	, 522
	Other community work income		26 855		26855
5.	Investment income .
				2023	2022
	Rental income			33,491	35,388
	Dividends received			20,943
	Bank interest			112	87

			2023	2022
			g	g
Turnover and other operating	income		57,339	28,848
Cost ofsales and administrative	expenses		~88411	~41 445
Net.loss retained in subsidiary
The assets and liabilities ofthe subsidiary		were:
Current assets			30,161	25,046
Current liabilities			~149224	(~113 037
Total net liabilities			~119,0631	~991

7.	Operating profit
					2023	2022
	This is stated after charging:
	Depreciation ofowned	fixed assets			34,860	45,135
	Auditor's remuneration
	Audit of	the financial	statements		8,700	7,500
	Other services				807	807
8.	Raising funds expenditure
					2023	2022 '
					8
	Commercial trading operations —note 6				88,411	. 41,445
	Fundraising expendittue
					~41	~1445
9.	Charitable activities expenditure
				Unrestr'icted	Restricted
				funds	funds	Total
	2023
	Staffcostsincluding expenses(note		10)	715,503	657,226	1,372,729
	Subcontract costs
	Premises, utilities and equipment			99,786	137,355	237,141
	Community activities			41,789	81,437	123,226
	Nursery and creche			27,446	13,376	40,822
	Once, computers and	communications		16,001	27,870	43,871
	Legal and professional			5,324	22,697	28,021
	Depreciation			22,292	12,568	34,860
	Sundry expenses			12,071	6,907	18,978
	Audit and accountancy	fees		7693	5 824	13517
				947 905
	2022
	Staffcosts including expenses (note		10)	764,540	558,813	1,323,353
	Subcontract costs				1,064;463	1,064,463
	Premises, utilities and	equipment		31,656	148,931	180,587
	Community activities			13,274	110,265	123,539
	Nursery and creche			29,605	5,431	35,036
	Office, computers and	communications		18,461	45,022	63,483
	Legal and professional	fees		994	9,668	10,662
	Depreciation			44,946		44,946
	Sundry expenses			8,087	8,361	16,448
	Audit and accountancy	fees		6638	4071	10709

Staffwage costs wer	e as follows:
		2023	2022
			g
Salaries and wages		1,080,545	1,067,260
Key management remuneration		151,227	144,164
Social security costs		109,749	97,967
Defined contribution	pension costs	21,341	19,428
Pension service cost		13 122 ~4	14538 ~14

				2023	2022
				No.	No.
Nursery and Children	Centre staff			38	38
Management and administration				10	12
Other support services				2	2
Quaggy Cafe at Parkside				2 52	2 ~4
.Tangible fixed assets	—Group
	Leasehold	Office	Plant tk	Kitchen
	improvements	equipment	machinery	equipment	Total
Cost or valuation
At 1April 2022	302,355	157,225	78,381	1,728	539,689
Additions
Disposals
At 31March 2023
Depreciation
At 1 April 2022 Charge for the year	110,302 20216	135,668 14644	78,381 -	1,728 '-	326,079 34 860
At 31March 2023				172	~3
Net book value
At 31March 2023	171837	6913			178750
At 31March 2022	192053	21557			213 610
		20

11.Tangible fixed assets —Charity
	Leasehold	Office	Plant tt8
	improvements	equipment	machinery	Total
Cost or valuation
At 1April 2022	302,355	157,225	78,381	537,961
Additions
Disposals At 31March 2023		~1'225	~	537961
Depreciation
At 1April 2022	110,302	135,668	78,381	324,351
Charge for the year	20216	14644	-	34860
At 31March 2023		~5312	~7381
Net book value
At 31March 2023	171837	6913		178750
At 31March 2022	192053	21557		213610
12. Investments
			Investment
	Investments		properties	Total
Group		g
Valuation
At 1April 2022.			973,138	973,138
Additions Revaluation		800,000 ~2866	- ~13.138	800,000 ~26.004
At 31March 2023		~77 134	~60000	~77 1 4
Charity
Valuation
At 1April 2022		1	973,138	973,139
Additions Revaluation		800,000 ~2866	- ~13138	800,000 ~16.004
At 31March 2023		797 135

Investments	comprise:
					Group		Charity
					2023	2022	2023	2022
COIF Charities Investment		Fund			406,870 .		406,870
Carenove Charity Responsible			Multi-Asset	Fund	390,264		390,264
Investment	in subsidiary						1
Total funds							~77 135

13. Stock
						Group			Charity
						2023		2022	2023	2022
									8
Food
14.Debtors
						Group			Charity
						2023		2022	2023	2022
									g
Trade debtors						3,485		1,354	3,485	745
Other debtors						13,936		12,351	12,846	12,351
Amounts owed	by	group	undertakings						30,000	1099605
Prepayments and accrued			income			19321.		13500	19321	13500
						~36 742		27205	65 652	~1362 1
15.Creditors
						Group			Charity
						2023		2022	2023	2022
Trade creditors						23,653		24,309	23,109	24,309
Accruals and deferred income						200,642		245,084	195,512	241,651
Other creditors						39863		40 923	39863	40923
						264 158		310316	~2584 4
16.Reserves
			At 1	April	Incoming	Resources	Gains gs		At 31March
			2022		resources	expended		losses	Transfers	2023
				g		g
Unrestricted funds
General funds (gross) '			1,661,687		835,286.	(1,036,316)		177,069	(25,669)	1,612,057
Pension liability			~177069						177069
General funds (net)			1,484,618		835,286	(1,036,316)		177,069	151,400	1,612,057
Revaluation reserve			201 585			-	~16004			185581
7 1 1	*Df 6		1686203		835286	~7036316		161tl65	1514Dtl	1797638
Restricted funds
Children-in-need	grant			5,197						5,197
RBGPerinatal	grant		21,970							21,970
Notional rent -	QCC				39,000	(39,000)
Notional rent -	MBN				43,000	(43,000)
RBGFood Pantry		ftmd			10,200					10,200
RBGWarm Spaces grant					2,518	(1,486)				1,032
RBGCommunity		fund grant			6,759	(590)				6,169
Hardship grant				2,942		(1,676)				1,266
RBGWest area SWG			717545		1 311817	~879 508		~7284	~151400	991 170
Total restricted Totalfunds'	funds		747 654		1413294 ~20	~965260 ~7284 ~~761~~			~353400	1037004

Principal Activity Assumptions	2023	2022
		0/
Rate ofincrease in salaries	3.90	4.05
Rate ofincrease in pensions	2.90	3.05
Discounted rate for liabilities	4.80	2.55
Inflation rate	10.10	2.80
The return on the Fund is estimated to be -2.64%

. Pension commitments —gro	. Pension commitments —gro	up and chari	ty (continued)
Mortality assumptions
The assumed life expectations		on retirement	at age 65are:
				2023	2022
Retiri ng today
Males				19.6	20.5
Females				23.0	23.4
Retiring in 20years
Males				21.0	22.0
Females				24.5	25.0
Analysis ofamounts	recognised	in the Statement ofFinancial Activities
				2023	2022
Current service cost				31,478	41,723
Net interest on defined benefit		liability		4,349	3,769
Administration expenses				110	109
Total expenditure to	be recognised in the SOFA				601
Value ofscheme assets and liabilities
Equities				84,145	99,049
Bonds				36,085	30,017
Property				15,847	18,908
Cash				2,723	4,344
Unutilised insurance	policies
UK A Overseas unit	trusts			19812	21332
Market value ofassets				158,612	173,650
Present value ofscheme liabilities —funded Net pension deficit in scheme				~165896 ~2	{3350719 ~0

Analysis ofamount chargeable to the Statement ofFinancial Activities (SOFA)	Analysis ofamount chargeable to the Statement ofFinancial Activities (SOFA)	Analysis ofamount chargeable to the Statement ofFinancial Activities (SOFA)
		2023	2022
Return offund assets in excess ofinterest		(9,496)	7,710
Other actuarial gains/(losses) on assets		(28,846)
Change in financial assumptions		206,764	32,570
Change in demogmphic assumptions		16,215	5,832
Experience (loss)/gain on defined benefit	obligation	7,963	(1,039)
Actuarial losses on scheme liabilities
Remeasurement ofthe net assets/(defined	liability)		~45 073
Movements inpresent value ofdefined benefit obligations:
Liabilities at 1April 2022		350,719	333,449
Current service cost		31,478	41,723
Contributions from scheme members		5,626	6,013
Change in financial assumptions		(206,764)	(32,570)
Change in demographic assumptions		(16,215)	(5,832)
Liabilities assumed on settlements
Experience gain on defined benefit obligation		(7,963)	1,039
Past service cost
Interest cost		9015	6 897
At 31March 2023
Movements in thefair value ofFund assets
Fair value ofassets at 1 April 2022		173,650	142,370
Interest on assets		4,666	3,128
Return on assets less interest		(9,496)	7,710
Actuarial loss		(28,846)
'Administration expenses		(110)	(109)
Settlement prices received / (paid)
Contributions by employer		13,122	14,538
Contributions by scheme members		5 626	6013
Fair value ofassets at 31March 2023		158612	173650

			2023	2022
			8
Falling	due	within one year	28,000	28,000
Falling	due	between two and five years	112,000	112,000
Falling	due	in'more than five years	70000	98000
			2~1000	~238 00

.Analysis ofgroup net assets between fund	s
	Unrestricted	Restricted
	funds	funds	Total
2023
Fixed assets	1,935,884		1,935,884
Cash at bank and in hand	(22,829)	1,156,287	I;133,458
Other net current liabilities Pension scheme provision	(115,417)	(111,999) ~7288	(227,416) ~7284
	~1797 38	1037004	2834 642
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	~177069		~177069
			2~4

		2023	2022
		K
Net movement in.funds		400,785	209,220
Depreciation charge		34,860	45,135
Losses on investments		16,004
Dividends, interest	and rents from investments	(54,546)	(35,475)
Decrease in defined	benefit pension liability	'(169,785)	(14,010)
Decrease in stocks		188
(increase)/decrease	in debtors	(6,598)	19,550
(Decrease) in creditors		~46 158	~73 038
Net cash provided by operating activities			~1513 2