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|||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'|
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|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||||
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||||||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|
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||||||||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|
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|||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||||
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||||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|
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|||||||
|---|---|---|---|---|---|
|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|
##
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|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|
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|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||||
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|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||
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|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|
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|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%|||
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|. 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|
##
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|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|
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||||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|
##
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|||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|
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