FIVE CHILDREN AND FAMILIES TRUST LTD {A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND ACCOUNTS for the year ended 31st March 2024 REGISTERED NUMBER: 4241965 CHARITY NUMBER: 1112796 ADIIIIHLE 2411212024 COMPANIES HOUSE A47
FIVE CHILDREN AND FAMILIES TRUST LTD Annual Accounts for the year ended 31st March 2024 Contents Page Company Information Report of the Trustees Auditorfs Report 13 Statement of Financial Activities (including Income and Expenditure Account) 18 Comparative Statement of Financial Activities Ilncluding Income and Expenditure Account) 19 Balance Sheet 20 Statement of Cash Flows .21 Notes to the Accounts 22
FIVE CHILDREN AND FAMILIES TRUST LTD Company Infomiation 31st March 2024 Company number: 4241965 Charlty number: 1112796 Trustees: P R Bostock (Chair) P M Freeman Mord A Hughes Secretary: S Roberts Chlef Executfve: S Roberts Registered office: Conleach Road Speke Liverpool L24 OTW Bankers: Co-operative Bank plc Po Box 250 Delf House Southway Skelmersdale WN8 6wr Solicitors: Hill Dickinson LLP No.1 St. Paul's Square Liverpool L3 9SJ Auditor: Mitchell Charlesworth {Auditl Limited Accountants Statutory Auditor 5 Temple Square Temple Street Liverpool L2 SRH
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 The trustees (who are also the directors of the companyforthe purposes of company lawl present their report together with the audited accounts of the charity forthe year ended 31st March 2024. The trustees have adopted the provisions of the Statement of Recommended Practice ISORP) "Accounting and Reportin8 by Charities" in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out In the notes to the accounts and comply with the charity's governing document. the Companies Act 2006 and Accountin8 and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin8 their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 (effective l January 20191. Trustees The trustees who served durlng the year are detailed on page l. A Hughes retires by rotation and bein8 eligible. offers herself for re-election. Objerts and actlvitSes The objects of the charity are to: Promote the physical, intellectual and social development and education of pre-school and young children particularlv those who are disadvantaged or who have special needs and to ensure that they are ready to flourish when thev get to school by working with families. foster and surrogate familie5 and carln8 for and nurturing children. Advance the education of the public in all aspects of the development of young children including speech and language. Relieve poverty, sickness and distres5 among those in necessitOU5 circumstances. Relieve unemployment In such ways as may be thought fit including assistance to find employment, and Carry out such other exclusively charitable purposes a5 may be conveniently or advantsgeously carried out in conjunction with the primary objects. The charlty has the general alm of working in partnership to deliver better outcomes for chlldren and families. The main objectives for the year continue to be the delivery of our children centre contract, particularly focusin8 on enhanced family support through our parent mentor prolect, improvlng access to employment and the promotion of healthy Ilfestyles, In particular focusin8 on mental wellbeing and diet and nutrition.
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (contlnued) Strategic Report Achlevements and performance Children Centre Artivities Our Focus on Poverty l in 4 children living in the Speke Garston nei8hbourhood is a child aged under 16,. Child poverty stands at 40% for Speke and 36% for Garston. We know that the concentration of poverty within the Speke district is higher and that families with a child aged under 5 are at an increased of poverty. Oata sets have changed but previous analysis indicates that poverty can be as hi8h as 80% within the early year's cohort. These statistics are reflected in our nursery make slightly over 40% of our total 3 and 4 year Cohort are in receipt of pupil premium. More than a third of our total cohort receive 2 year fundin8. These places are allocated to famllles who are on very low Incomes. Specifically within the total two year cohort the free places made up 79% of our allocations Indicating very high levels of poverty in the early years. In this financial year we: Worked directly with 2,303 indlvlduals requirlng support with poverty, this Is a 60% increase on the previous year This work included distribution of food and fuel vouchers, employability support and referrals to partners for debt advice Provldlng food at our actlvltles In addition we distrlbuted £IOOK of Asda Vouchers across Llverpool Chlldren Centres Support to access grants. Disability Living Allowance and childcare funding Within the year 657 carers and $07 new children re8iStered for our service5 across our children centres, we worked with 2,061 families with an average of just under 4 contacts per family. We saw 1,266 children aged under 5 year old. 72% of our child contacts are children aged 2 and under. We had a total of 13.963 individual client contacts in year which is consistent with the previous financial year. Overall in the past two year5 we have seen a reduction in the percentage of families re8iStered with the Chlldren Centre, accessin8 our services, however we are delivering more intensive targeted support. In the context of poverty, 60% of all children seen, live in the 1-5% most deprlved communlties. Overall the children centre activities included the followin8 contacts: 953 contacts to support healthy weight including a new Infant Feeding service delivered by Alder Hey128% increase) 1667 individual face to face contacts were made for Family support Imar8inally lower than prevlou5 yearl 177 contacts were specific to a child with special educational needs and or disability 288 child contacts were recorded for targeted SEN groups including Early Communication Groups, most of these children were referred to Speech and Language Therapy Trends remain positive in terms of the take up of Active Play session5 Wlth 801 contacts recorded this is an increase of 34% contacts recorded We dellvered community learning courses included Women's Empowerment, Counselling Level I, SEND Level 3, The Nurturin8 programme, You and Me Mum, Bump Birth and Beyond, Baby Massa8e and Early Communication Group5 Liverpool Women's Hospital Trust had 3,081 contatt5 antenatal and Saw 416 babie5 for New-born Hearing Screening 31Page
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees lor the year ended 31st March 2024 (continued) Strategic Report (contlnued) Our Focus on Poverty (contlnued) We continue to work with Statutory and Community this includes: Liverpool City Council - Family Hubs, targeted youth service, early help, children services. public health. adult Learnin8 Service et pss Crosby Training Citizen's Advice Liverpool Perinatal Mental Health Service Alder Hey Infant Feeding Service Shelter Kinship Carers Liverpool ADHD Foundation Merseycare Liverpool LWHT STEC Speke and Garston Adventure Playgrounds YPAS Alder Hey Perinatal Mental Health Service School Improvement Liverpool National Trust - Speke Soclal Landlords Local Schools and Training providers Our role as lead organisation for Youth and Play locally came to an end In August 2024 as Llverpool shlfted how It fund5 Youth and Play. returning autonomy to the sector, In the last six months, acting as lead, FCFT assisted in the achievement of £1.4 million YoLtth Investment Funding and supported with applications to LCC for a five year investment in both Adventure Play8rounds. We continue to support local youth and play providers through board representation, providing support and advice on a range of matters such as HR, Fundraisin8, and Safeguarding etc. We have been an actSve participant In the roll out of LCC Neighbo(rrhood Model and currently lead on a number of task and finish group5 related to Neighbourhood prlorltles, In particular a Thrivin8 Community and Voluntary Sector and Redurtion in Anti-social behaviour. Our New Futures Group continue to support us in our work and in addition both Children Centres now have active parent 8roups who provide informal support and signposting, 5UPPOrt with events and activities and broker in specific training that is wanted and needed by parents. We were approached in year to 5UPPOrt Speke Parents, a parent led group with a broad focus across all ages. The group has arranged a number of thematic talks which have included supportin8 neuro-diversity. menopause, and school refusers (post Covidl. We have provided free accommodation and supported with resources. PractStloners have been able to access training to deliver a range of new evidence based courses which include Triple P, Welcome to the World, PEEP, Parental Conflict and Lighthouse MBT. Lighthouse will be delivered as part of a partnership with Alder Hey perinatal services. CAMHS, PSS and FC. It 15 an intensive 20 week programme that is underpinned by mentalisation based therapy as an approach that is supported by the Anna Freud Centre, who shape and lead practice across England's Family Hub Networks. We encourage our families to participate in research projects and have supported the Children Growin8 Up in Liverpool ICGUL) research project. School Improvement Liverpool. development of an ACES strategy and training programme. National Trust- Speke Poverty Proofing project and LCC Housin8 Strategy.
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (continued) Strate8ic Report (continued} Flve Chlldcare We have had a significant setback to our childcare operation. Muddy Footprints Garston remains closed, initially to enable GAP to complete their refurbishment, we received a rental income from them in support of this. More latterly we have raised objections wlth the Office of Traffic Controller IOTCI and Liverpool City Council ILCCI planning department in relation to a planning application to establish a Builders Yard and Heavy Goods Operating Centre immediately adjacent to the nursery. We believe that if this is approved it will compromise both the safety of children and quality of the care we can offer. We are aware that there is a Public Enquiry planned and we have political support in relation to our objections for the proprietor to be granted an operating license. The CEO for LCC has raised an objection with the OTC. However LCC has to remaln neutral with regard to planning applications. We have taken advice and are confident that the prop0531 breaches the Liverpool Local Plan 2013-2033 in a number of areas and furthermore the proposal has no strategic significance to the plan. We have also shifted our chlldren centre dellvery to our Muddy Footprints, Parklands site due to issues In relation to the provision of sufficient toilets on site for the nursery operation. This has resulted in a net loss of 19 childcare places in Speke, at a point when we were planning expansion. We are working proactively with LCC A55et Management and Chlldcare Sufficiency teams to resolve thls matter. It is our Intention to enter into a S year lease once a resolution has been achieved. Our Childcare continues to operate sustalnably and we have reduced staffing through natural movement of staff to other roles in the company, although sadly we have lost some practitioners to the early yearfs sector. We are also mindful of the impact to our community and continue to push for an expedient resolution. Despite these setbacks, our nursery continues to fully inte8rate with the work of our children centre and add value to all aspects of our delivery, In particular SEND, parentin8, safe8uardin8 and poverty work. As indicated above they have delivered 76,376 free childcare hours across the year. Levels of children on roll having an identified special educational need, requirin8 intervention has increased. LCC SEND team acknowledges that levels of need are greater in Speke. Our Childcare Manager contlnues to chair the Early Years Consortia, which consider5 representation from settings In relation to support for SEND children and she is also the representative for South Liverpool Private and Voluntary Sector Nurseries Our settings contlnue to embed best practice approaches in relation to enhancing support for chlldren to develop speech, language and communication skills as more than 50% of our children have mild to moderate delay in speech and language at their 2 year Base Line assessment. SIPa8e
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 {contlnued) Public Benefit Statement The Children Centre contract has a 100% focus on public benefit for children and families in Speke Garston and Cressington wards. We support working parents with advice and guidance. ensuring maximum take up of childcare tax credits reducingfees by as much as 80% for the majority of parents and currently our ratio of free childcare provislon stands at 60% compared to 40% fee paying. FCFT always ensures that fees are kept as low as possible without compromising our business sustainabilitv. We maintalned and built on our links with local businesses whosupport our Food Poverty Work and would like to thank: Astrazeneca, Fords, Nandos. Asda, Fords, Cash for Kids and Bid Foods all of whom have supported us to ensure families can have acce55 to food and resources throughout the year and in particular over holiday periods. Through our Children Centre work we also support families to access resources through other charitable trusts and we are workln8 Wlth Torus Housing to dlstribute fuel vouchers to familles. Our SEND Link workers a150 a5$15t with the preparation of Disability Living Allowance applications and appeals on behalf of children with Special Educational Needs and Disability ISENDI. We actively advocate on behalf of SEND children in terms of ensuring they are able to access support through the earlv vearfs consortia and ensure Education and Health Care Plans are in place prlor to them startin8 school. We continue to provide free trainlng and consultancy to other local community organisatlons and 8roups on policv development, HR matters, funding and Safeguarding Children. R15k mana8emont The risk assessment re8lSter has been updated including any risks associated with new proposa15. A summary of kev risks Is set out below whi15t the Ilkelihood of Covid 19 continuing to have the level of impact at the height of the pandemic the Board feels that it is Important to include the risk of a significant outbreak of this or any other emergent viruses not withstanding coronavirus mutations and or potential new contagion: Significant Viral Contagion - risk to employees: Full and immediate indlvidual risk assessment of all staff, in particular those considered as vulnerable to viral infection Board and SMT commitment to maintain 100% of salary payments providing this does not pose a wider financial business risk. Work at home and in work protocols in place Risk assessments agreed based on Department for Education and Local Authority guidellnes Significant Viral Conta8ion - financial Impact.. Government committed to maintaining early years fundlng Funding for all children centre posts maintained through Local Authority Revlew any Government support available Deployment of staff to ensure all aspects of the business function Significant Viral Conta8ion - community impact: Children centre and childcare staff identified as -critical Workers" all settings to remain open to the public All children unable to attend childcare provided with regular key person contact and horne working packs Working practices have been updated to ensure regular contact through new mediums this includes. delivery of Zoom Sessions, regular welfare ca115. provision of food and voucher5, 1.1 contact, delivery of activity packs, maintenance of antenatal services Strong community links established ensure the centre can operate for wider Community benefit Regular review of all risk assessments to ensure staff and community safety at all times
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (continued) Achlevements and performance (continued) Risk management Icontlnued) L055 of revenues: On80in8 joint working across Liverpool Children Centre Network to support joint income generation New tenancies have been maintained Review of childcare waiting lists and allocations process Review of nursery group structure and staffin8 Regular meetings of SMTto ensure places are maximised across the group network Work to support Gar5ton Adventure Playground will result in rental revenues for Muddy Footprints Current plans are in place to create Family Hubs provldin8 longer term security for Children centres and potential for increased revenues and wide community benefit Increase in competition base for childcare All settings are graded good settings by Of5ted. Childcare participate in achievement of externally verifled quality assurance schemes Ambitious tar8ets negotiated to ensure we achieve good outcomes for children Ability to respond effectively and flexibly to 30 hours free funding for workin8 parents Changes to Children Centre's and Childcare Inspection Frameworks Centre works closely with Local Authority Quality Improvement Officers and Children Centre Central Senrfice Team Staff qualifications include Qualified Teacher Status, Early Years Practitioner and a hi8h number of graduate qualifications across the organisation SMT participate in a number of peer support networks to explore best practice approaches All existing policyi procedure, practice and information system5 have been reviewed in line with proposed change5 Board and SMT have revlsed curriculum intent which is consistent with our community aspiration and context SMT and whole staff superlision and appraisal is in plate All nursery settings have been inspected under the new framework and have been graded Good Lack of opportunity to build up adequate resenrfes in line wlth the or8anisatSons reser¥es policv LCC will underwrite any potential redundancy of core children centre staff Nursery recovery plan demonstrated increased income Terms and condit.ions have been reviewed in year Government has introduced a Flexible Support Fund enabling parents to pay upfront childcare costs Government implementation of free childcare for children of working parent5 aged 9 months to 4 years Potential si8nificant maintenance requirements arise in relation to the Children Centre Asset Centre implements a regular maintenance programme Ability to draw down some capital budget through LCC Reviewed tenancy agreements SLH are amenable to discussion In relation to asset transfer in 2024 71Page
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 Icontinued) Rlsk mana8efflent {continued) Failure to adequately safeguard children.. Maintain robust policy implementation Re8ular review of safe8uardin8 policy and practlce through case mana8ement Systems and audit arran8ements Completion of childcare safeguarding audits on all sites Participation in multi -agency networks Particlpation in Liverpool Safeguarding Partnership trainln8 programme and policy update service Raising community awareness regarding keeping children Safe Staff, volunteers and board receive appropriate safeguarding trainin8 SMT representatives support Liverpool Safe8uardln8 Children's Board with dlsseminatlon of training Lo55 of key staff and pressures arising on the SMT Focus on team development Identified staff undertakin8 8raduate quallfications Succession planning in place Flnanclal revlew The accounts show an increase in income of £289,170 to £1.808,84112023 £1,519,671). The trustees report a surplus of £65,07312023 deficlt £36,549). This represents a deflclt of E130.24612023 deficit £148,624} on restricted funds and a surplus of £195,31912023 deficit £112,075) on unrestricted funds. Investments powers and pollcy Under the Mernorandum and Articles of Association. the charity has the power to Invest in any way the trustees w15h. Pollcy on remuneratlon of key mana8ement personnel The charity is committed to ensuring that we pay our staff fairly and in a way which ensures we attract and retain the right skills to have the 8reatest impact in delivering our charitable objectives. The Board undertakes an annual revlew of salaries with the CEO in attendance, although the CEO does not participate in the disCU55ions around their own salary. All salary reviews take account of the broader financial position of the organisation. When cafrylng out its reviews, the Board has re8ard to: Industry benchmarks, including the pay grades of similar role5 Within the local authority, where services are commissioned by those bodies; makin8 sure that pay rates are competitive within the sector; the rernuneration package as a whole including pension contributions. and rewarding good performance. 81Page
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (continued) Reserves policy The charitls reserves policy is to build up an unrestricted reserve sufficient to enable the charity's activities to be continued for a period of 3 months should re8ular funding be reduced or become unobtainable. This would provide the trustees with sufficient time to consider how the operations of the charity could be developed to enable its serlices to continue to be provided given the levels of funding available. At present this level of reserves is realistically unobtainable but the trustees are looklng at ways of Increasing its incoming resources that would enable unrestricted reserves to be built up over a period of time. Our business strategy is focused on the creatlon of a mixed economy that Is.. Less reliant on Brant or a sln8le source of income Builds on our existin8 enterprise portfollo and the creation of unrestrlcted reserves Ensures that all projects are based on the prlnclples of full c05t recovery The build-up of a financial reserve is clearly linked to organisational performance and is wholly dependent on the or8anisation's ability to respond, develop and innovate within the context of our enterprise work. Thls Is consistent with our buslness mission: "We will grow our services, innovatively, profitably and in accordance with our charitable mission. In building sufficient reserves, we will be able to respond to potential risks and contin8encies that may arlse from time to tlme enabllng us to Meet flnancial risks associated with any contlngency or uncertainty relatlng to the charlty's operatin8 activities. These include.. The provision for an orderly winding-down of operations in the event of a significant adverse event that IS Outside the control of the charity. Shifts in legislation that may affect existing services provided for by the charity.
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (continued) Structure, governance and management Post balance sheet events There are no slgnificant post balance sheet events to report. Governing document The charity is a company limited by guarantee and is governed by its Memorandum and Artlcles of Association dated 27th June 2001 as amended on 2nd March 2006 to allow for current governance arrangements. The company was registered as a charity on 23rd January 2006. Membership of the charity is open to indivlduals or organisations who qualify in accordance with the policy and criteria for admi55ion of members made by the trustees. Organisation The board of trustees. which can have up to 9 members. administers the charity. The board meets at least four times a year and there are sub-committees coverin8 finance, nominations and human resources. A Chlef Executlve is appolnted by the trustees to manage the day to day operations of the charlty. To facilitate effective operations, the Board has delegated authority to the Chief Executive for all operational malters including finance, employment and performance related activity. Appolntment of trustees As set out in the Articles of AssocSatlon the nominatlons committee will advise the charity on: Identification and Selection of new trustees and making nominations to the AGM for the appointment of new trustees. Policy, criteria and other matters relating to membership of the charity. Appointment of the Chair. Deputy Chalr, Treasurer and any other office holders. The nominations committee has delegated authority to carry out Its role detailed above and to make such nominations as it see5 fit. The charity is committed to the full involvement of parents in its strategic development and we would always Seek to have a third of our membership made up of local parents. Currently 50% of the board is made up of local parents, The trustees have the power to co-opt any person duly qualified to be appointed as a trustee to fill a vacancy in their number or as an additional trustee but a co-opted trustee holds office only until the next AGM. All members are circulated with the invitations to nominate trustees prior to the AGM advisin8 them of the retiring trustees and requesting nominations for the AGM. Nominees appointed by Liverpool City Council and Liverpool Primary Care Trust are subject to the appointment processe5 of those bodies and the guidelines on appointment to public office as they apply to Local Government and Oepartment of Health nominees. 101 Page
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 2024 (continued) Structure of Trustee induction and training New trustees undergo an induction to brtef them on: Their legal obligations under charity and company law. The content of the Memorandum and Articles of Association. Decision making processes. The business plan. Recent flnancial performance of the charitv, The Code of Conduct for Board Members. Their responsibilitles for safeguarding chlldren. Durin8 the Induction perlod board members arrangements are made for them to meet key employees and other trustees. Trustees are encoura8ed to attend appropriate external training events where these wlll facllltate the undertaklng of their role. The charity ensures adequate funds are available for trustees to undertake tralning in relation to their roles and responsibilities. Statement of trustees, responsibilitles The trustees (who are also directors of Five Children and Famllles Trust Ltd for the purposes of company lawl are responsible for preparln8 the Trustees, Annual Report lincludin8 the Strategic Report) and the financial statements in accordance with applicable law and United Kin8dom Accounting Standards Iunited Kingdom Generally Accepted Accountlng Practice). Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resource5 and application of resource5, including the income and expenditure, of the charitable company'for that period, In preparlng these financlal statements. the trustees are required to: select suitable a¢¢ountin8 policies and then apply them consistently; observe the methods and principles in the charities SORP 2019 IFRS 102}- make Judgements and estlmates that are reasonable and prudent. state whether applicable UK Accountin8 Standards have been followed. subjert to any material departures disclosed and explained in the financial statements.. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keepin8 adequate accounting records that disclose with reasonable accuracy at anv time the financial posltion of the charitable company and enable them to ensure that the financial statements comply with the Cornpanies Act 2006. The trustees are also responsible for safe8uarding the assets of the charitable companv and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. IIIPa8e
FIVE CHILDREN AND FAMILIES TRUST LTD Report of the Trustees for the year ended 31st March 20241continued) Trustees. statement of dlsclosure of Information to the audStors Each of the persons who is a trustee at the date of approval of this report confirm in so far as they are aware that.. there is no relevant audit Information of which the charitable company's auditor is unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. v Order ofthe Trustees Mord Trustee 20 December 2024 121Page
Mitchell Charlesworth (Audit) Limited Accountants 5 Temple Square Temple Street Liverpool L2 5RH FIVE CHILDREN AND FAMILIES TRUST LTD Independent Auditorfs Report to the Members of Five Children and Families Trust Ltd For the year ended 31st March 2024 Opinion We have audited the financial statements of Five Children and Families Trust Ltd (the 'charitable companl) for the year ended 31st March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements. including a summary of significant accounting policies. The financlal reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kln8dom Generally Accepted Accountin8 Practlcel. In our opinion the financial statements., give a true and fair view of the state of the charitable company's affairs as at 31st March 2024 and of its incoming resources and applicatlon of resources, including its income and expenditure. for the year then ended; have been properly prepared in accordance with United Kin8dom Generally Accepted Accounting Practice; and have been prepared in accordance with the requirement5 of the Companies Act 2006. Bjsls lor oplnlon We conducted our audit in accordance with International Standards on Auditing {UK} IISAS IUKII and applicable law. Our responsibilities under those Standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. includin8 the FRC'S Ethlcal Standard, and we have fulfllled our other ethical responsibilities in accordance wlth these requirements. We believe that the audlt evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relatlni to iolni Concern In auditing the financial 5tatement5, we have concluded that the Irustee5' use of the going concern basi5 of accounting in the preparation of the financial statements is appropriate. Based on thework we have performed, we have not identified any material uncertainties relatingtoeventsorconditions that, individually or collectively. may cast signif icant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to goin8 concern are described in the relevant sections of this report. 131Page
Mitchell Charlesworth (Audit) Limited Accountants 5 Temple Square Temple Street Liverpool L2 5RH FIVE CHILDREN AND FAMILIES TRUST LTD Independent Auditorfs Report to the Members of Flve Children and Families Trust Ltd For the year ended 31st March 2024 Icontinwedl Other Information The other information comprises the information included in the trustees, annual report. other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial 5tatement5 does not cover the other Information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and. In doin8 so. consider whether the other information is materially inconsistent with the flnancial statements or our knowledge obtained in the course of the audlt or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi55tatements, we are requlred to determine whether thi5 gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothln8 to report in thls re8ard. Oplnlons on other matters pre$crlbed by the Companies Act ZIJ06 In our opinion, based on the work undertaken in the course of the audit: the Information given In the tru5tees' report (incorporating the 5trate8ic report and the director5, report prepared for the purposes of company lawl for the financial year for which the financial statements are prepared 15 cons1StÈnt with the financial statements: and the strateglc report and the directors, report have been prepared in accordance wlth appllcable legal requirements. Matters on whlch we are required to report by ex¢eptlon In the light of the knowledge and understandin8 of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the strategic report and the directors, report. We have nothing to report in respect of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion.. adequate accountin8 records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and return5,' or certain disclosure5 of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 141 Page
Mitchell Charlesworth (Audit) Limited Accountants 5 Temple Square Temple Street Liverpool L2 SRH FIVE CHILDREN AND FAMILIES TRUST LTD Independent Auditorfs Report to the Members of Flve Children and Familles Trust Ltd For the year ended 31st March 2024 Icontlnuedl Re$ponslbilltles of trustees As explained more fully in the Statement of Trustees, Responsibilities set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the flnancial statements and for beln8 satisfled that they 8ive a true and falr vlew, and for such internal control as the trustees determine is necessary to enable the preparation of financlal Statements that are free from material misstaternent, whether due to fraud or error. In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to continue as a goin8 concern, dlsclosin8, as applicable. matters related to 80ing concern and using the going concern basis of accounting unless the trustees either intend to Ilquldate the charitable company or to cease operatlon5, or have no realistic alternative but to do so. Auditor's responslbllStles for the audit of the flnanclal statements Our objectives are to obtain reasonable assurance about whether the flnancial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our oplnlon. Reasonable assurance is a high level of assurance. but is not a 8uarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these flnancial statements. Irregularities, Including fraud, are instances of non-compliance wlth laws and regulations. We desi8n procedures In Ilne with our responsibilities. outlined above, to detect material misstatements in respect of irregularities, including fraud, The extent to whlch our procedures are capable of detectin8 Irregularities, Including fraud. is detailed below: Extent to whlch the audlt was consldered capabl• of det•ctln£ Irreiularltles, Includlng fraud We identify and a55e55 the risks of material misstatement of the financial statement5, whether due to fraud or error, and then desi8n and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. Identlfying and.assessln8 Potentlal rlsks related to Irregularltle$ In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non- compliance with laws and re8ulations. we considered the followin8". the nature ofthe Industry and sector, control envlronment and business performance: the charitable companws own assessment of the risks that irregularities may occur either a5 a result of fraud or error; the results of our enquiries of management and members of the Board of Trustees of their own identification of and assessment of the risks of irre8ularities; any matters we identified having obtained and reviewed the charitable company's documentation of their policies and procedures relating to.. 151Page
Mitchell Charlesworth (Audit) Limited Accountants 5 Temple Square Temple Street Liverpool L2 5RH FIVE CHILDREN AND FAMILIES TRUST LTD Independent Auditorfs Report to the Members of Five Children and Families Trust Ltd For the year ended 31st March 2024 Icontlnutdj Identlfylng and assessing potential rlsks related to Irregularltles (contlnued) identifying, evaluatlng and complyirn8 Wlth laws and regulations and whether they were aware of any instances of non<ompliance,' detectin8 and respondin8 to the risks of fraud and whether they have knowledge of any actual, suspected or alle8ed fraud; the internal controls established to mitigate risks of fraud or non<ompliance with laws and re8ulations; and the matters discussed amon8 the audit en8a8ement team regarding how and where fraud might occur in the financial statements and any potential indicator5 of fraud. As a result of these procedures, we considered the opportunities and incentlves that may ex15t within the or8anisation for fraud and identified the greatest potential for fraud in the followin8 areas.. lil The presentation of the charity's Statement of Financial Activities, lill the charitV'5 accounting policy for revenue reco8nition. and11111 the overstatement of salary and other costs. In common with all audlts under ISAS {UK), we are a150 required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the le8al and regulatory framework that the charitable company operates in, focusing on provision5 of those law5 and regulations that had a direct effect on the determination of material amounts and disclosures in the f inancial statements. The key laws and regulations we considered in thi5 context Included the UK Companies Act and the Statement of Recommended Practice - 'Accounting and Reporting by Charities, issued by the joint SORP making body. In addition, we considered provisions of other laws and regulations that do not have a dlrect effect on the financial statements but compliance with which may be fundamental to the charitable cOmpanS ability to operate or to avoid a material penalty. These Included Safeguarding and Data Protection regulations. Audlt response to rlsks Identlfled As a result of performing the above, we identified the presentation of the charitable company's Statement of Financial Activitles, revenue recognition and overstatement of wa8es and other costs as the key audit matters related to the potential risk of fraud. The key audit matters section of our report explains the matters in more detail and 3150 describes the specific procedures we performed in response to those key audit matters. In addition to the above, our procedures to respond to risks Identified included the followlng: reviewing the financial statement disclosures and testing to supporting d¢xumentation to assess compliance with relevant laws and regulations described above a5 havin8 a direct effect on the financial statements; enquiring of management and members ofthe Board of Trustees concerning actual and potential litigation and claims. 161 Page
Mitchell Charlesworth (Audit) Limited Accountants 5 Temple Square Temple Street Liverpool L2 5RH FIVE CHILDREN AND FAMILIES TRUST LTD Independent Auditorfs Report to the Members of Five Chlldren and Families Trust Ltd For the year ended 31st March. 2024 IContlnu•dl Audit response to risks identifd {contlnued) reading minutes of meetings of those charged with 8overnance and revlewing correspondence wlth relevant authorities where matters identified were slgnificant,. In addressing the risk of fraud through management overrlde of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in maklng accounting estimates are indicative of a potential bias,. and evaluatln8 the business rationale of any 5ignlflcant transactions that are unusual or outside the normal course of buslness. We also communicated relevant identified laws and regulations. and potential fraud risks to all en8agement team members and remained alert to any indlcations of fraud or non-compliance wlth laws and re8ulations throughout the audit. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leadin8 to a material misstatement in the financial statements or non-compliance with regulation. The risk increases the more that compliance with a law or regulation is removed from the events and transactlons reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk Is also 8reater regardlng irregularitles occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities Is available on the Financlal Reportln8 Councll's website at: http'.l/vMw.frc.org.uk/auditorsresponslbllitie5. This description forms part of our auditor's report. Use of our report Thls report is made solely to the charltable company's members. as a body. in accordance wlth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mi8ht state to the charitable company's members those matter5 we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed. /U/a& d.£_J/ (LLiI)I_L Mr Philip Grlfflths Senior Statutory Auditor 24 December 2024 On behalf of Mitchell Charlesworth (Audit) Limited Statutory Auditor 3rd Floor 5 Temple Square Temple Street Liverpool Merseyside L2 5RH. 171Page
FIVE CHILDREN AND FAMILIES TRUST LTD Statement of Financlal Activities (including Income and Expenditure Account) for the year ended 31st March 2024 Summary Income and Expenditure Account Unrestricted funds Restricted funds Total 2024 Total 2023 Notes Income from: Donations and legacies Charitable activities 8,448 1,301,429 8.448 1,800,393 3,732 1.515,939 498,964 Total income 1,309.877 498.964 1,808.841 I,S19,671 Exp¢ndlture on: Charitable activlties 1,114.558 629,210 1,743,768 I,S56,220 Total expendlture 1,114.558 629.210 1,743,768 1,556,220 Net Incomellexpendlturel for the year 195,319 1130.2461 65,073 136,5491 Total funds brought torward 189,998 201,296 391,294 427,843 Total funds carried forward 385,317 71,050 456,367 391.294 The charlty has no recognised gains or105ses other than the results for the year as set out above. All activities of the charity are classed as continuin8. The notes on pages 22 to 32 form part of these accounts. 181 Page
FIVE CHILDREN AND FAMILIES TRUST LTD Statement of Financial Activities (includlng Income and Expenditure Account) for the year ended 31st March 2024 Comparative information for the year ended 31st March 2023 Unrestrlcted funds Restrlcted funds Total 20Z3 Total 2022 Notes Income from: Donations and legacies Charitable activities 3,732 998,475 3,732 1.515.939 37.671 1,572,865 517,464 Total income 1,002,207 517,464 1,519,671 1.610,536 Ejtpendlture on: Charitable actlvities 890.132 666.088 1.556,220 1,543,852 Total expenditure 890,132 666,088 1,556,220 1.543,852 Net Income/lexpenditure) for the year 112.075 1148,6241 136,5491 66,684 Total fund5 brou8ht fonvard 77,923 349,920 427,843 361,159 Total funds carrSed forward 189,998 201,296 391.294 427,843 The charity has no reco8nlsed 8ains or losses other than the results for the year as set out above. All activitie5 of the charity are classed a5 continuln8. The notes on pa8es 22 to 32 form part ofthese accounts. 191Page
FIVE CHILDREN AND FAMILIES TRUST LTD Balance Sheet 31st March 2024 Notes 2024 2023 Flxed assets Tangible a55ets io 168.219 194.037 Current assets Debtors Cash at bank and in hand li 93.183 323,160 64,471 251,S39 416.343 316.010 Creditors Amounts fallin8 due within one year 12 1111,6821 191.9331 Net current Iliabilltles)/assets 304,661 224,077 Total assets less current Ilabilltles 472,880 418.114 Credltors Amounts falling due in greater than one year 13 116.5131 {26,8201 456.367 391,294 Funds Uniestrlcted funds General funds 17 385,317 189,998 Restrlcted lunds 18 71,050 201,296 Total lunds 19 456,367 391,294 The accounts on page$ 18 to 32 were approved by the trustees and authorised for issue on 20 December 2024 and signed on their behalf by;" Mord Trustee Company Registration Number: 4241965 The notes on page5 22 to 32 form part of these accounts. 201 Page
FIVE CHILDREN AND FAMILIES TRUST LTD Statement of Cash Flows for the year ended 31st March 2024 Notes 2024 2023 Cash flow from operatlni actlvlties 22 104,939 140,8151 Cash flow from Investing activities Payments to acquire tangible fixed assets (22,0101 111,1811 Net cash flow from Investlng actlvltles 122.010) 111,1811 Cash flow from financini activities Repayments of loans Interest paid 110,058} 11,2501 {23.438) 11,874) Net cash flow from flnanclng artlvltles 111,3081 125,3121 Change in eash and cash equivalents in the year ending 31st March 2024 71,621 177,308) Cash and cash equivalents as at 1st Aprll 2023 251.539 328,847 Cash and cash equlvalent$ a$ at 31rt March 2024 323,160 251.539 211 Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 Summary of 5i8nifi¢ant ac¢ountin8 pollcle5 (a) General information and basls of preparation Five Children and Families Trust is a company Ilmited by guarantee and a registered charity in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page I of these financial statements. The nature of the charity's operations and principal activltles are set out in the Trustees. Report on page 2. The charity constltutes a public benefit entlty as deflned by FRS 102. The financlal statements have been prepared in accordance with Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland Issued in October 2019, the Financlal Reportln6 Standard applicable in the United Kin8dom and Republic of Ireland (FRS 1021, the Companies Act 2006 and UK Generally Accepted Accounting Prattice. The financlal statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterlin8 which is the functional currency of the charity and rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwlse stated. (b) Funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. In some instances these funds are designated by the trustees for specific purposes. Restricted fund5 are funds which are to be used in accordance wlth speciflc restrictions imposed by donor5 or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund 15 set out in the notes to the financial statement5. (c) Income reco8nitlon All incoming resources are included In the Statement of Financlal Activitles ISOFAI when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received. For donations to be recogni5ed the charity will have been notified of the amounts and the settlement date in writin8. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is Wlthin the control of the charity and it is probable that they will be fulfilled. No amount is included in the financial statements for volunteer time in line with the SORP IFRS 102}. Further detail is 8iven in the Tru5tees' Annual Report. 221Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 Summary of slgnlflcant accountln8 pollcles (contlnued) Ic) Income recognition (continuedl Income from charitable activities includes income received under contract or where entitlement to grant funding Is subject to special performance conditions and is recognlsed as earned as the related servlces are provided. Grant income included in this category provides funding to support performance activitles and is recognised when there is entitlement. certainty of receipt and the amounts can be measured with sufficient reliability. Investment income is earned through holding assets fof investment purposes such as bank deposlts. It essentlally includes interest which is recognised usin8 the effective interest method. (d) Expendlture recoinltlon All expenditure is accounted for on an accruals basis and has been classified under headings that a88regate all costs related to the category. Expenditure is recognised where there is a le831 or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is cate8orised under the followin8 headin8S: Expenditure on charitable activities includes expenditure for running the Children Centre and activities provided therein. Irrecoverable VAT is charged as an expense against the activity for which expendlture arose. {el Support costs allocatlon Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs. governance costs and administrative payroll costs. They are incurred directly in support of expenditure on the object5 of the charity and include project mana8ement carried out at the Children's Centre. Where support costs cannot be directly attrlbuted to particular headin8S they have been allocated to expenditure on charitable activitle5 on a basis con51stent with the use of the resource5. The analysls of these costs is included in note 5. If) Tanglble flxed assets Tan8ible fixed assets are stated at cost {or deemed costl or valuation le55 accumulated depreciatlon and accumulated impairment105ses. Cost includes COSts directly attributable to making the asset capable of operating as intended. Depreclatlon is provided on all tan8ible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each a55et on a systematic basis over its expected useful life as follows.. Buildin8 improvements Fixtures and fittings IO% perannum 25% per annum (g) Investments Investments are reco8nised at falr value whlch is normally the transaction price excludin8 transactlon costs, less impairment. 231Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 Summary of significant accounting polities {continued) (h) Debtors and credltors recelvable I payable wlthln one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactlon price. Any losses arising from impairment are recognised in expenditure. Loans and borrowings Loans and borrowin8s are initially recognised at the transaction price includin8 transactlon costs. Subsequently, they are measured at amortised cost using the effective interest rate method. less Impairment. If an arrangement constitutes a finance transaction it is measured at present value. Ul Impalrment Assets not measured at fair value are revlewed for arny indlcation that the asset may be impaired at each balance sheet date. If such indication exists. the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carryin8 amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or 1055 unle55 the asset is carried at a revalued amount where the impairment lossls a revaluation decrease, (k) Leases Rentals payable and receivable under operatin8 leases are char8ed to the SOFA on a straight line basis over the period of the lease. Employee beneflts When employees have rendered service to the charity, short-term employee benefit5 to which the employees are entitled are reco8nised at the undiscounted amount expected to be paid In exchange for that service. The charity operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable. {m) Tax The charity Is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the test5 set out in P3ra8raph I Schedule 6 Finance Act 2010 and therefore it meets the definition of charitable company for UK corporation tax purposes. (n) Goingconcern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue a5 a 80in8 concern. 241 Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended31st March 2024 Income from donatlons and le8a¢les Unrestrlcted funds Restrlcted funds Total 2024 Total 2023 Donations and other sundry income Covid support 8rants 8,448 8,448 3,732 8.448 8,448 3,732 £3,732 of the above income in 2023 was attributed to restricted funds. Income from Charltable actlvftles Unrestrlrted funds Restrlcted funds Total 2024 Total 2023 Children's Centres - Liverpool City Council Nursery income Letting of Centre Health and wellbein8 Kids Club Other 383,937 383,937 1,135,799 41,370 115,027 95,234 29,026 345,982 805,629 41,484 180,628 67,134 75,082 1,135,799 41,370 115,027 95,234 29.026 1.301.429 498,964 1,800,393 1,515,939 £517.464 of the above income in 2023 was attributed to restricted funds and £998,475 of the above income in 2023 was attributed to unrestricted funds. 251Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 Analy515 of expendlture on charitable activities Direct corts Support costs Total 2024 Total 2023 Children's Centres Nursery Health and wellbeing Building and support Kids Club Other 399,067 913,281 145.143 68,165 7,178 9,382 124,719 58,882 523,786 972.163 145,143 77,600 7,178 17,898 284.709 756,006 242,971 133.200 S6,296 83.038 9,435 8,516 1,542,216 201.552 1.743,768 1,556,220 £629,21012023 £666.088I ofthe above costs were attributed to restricted funds and £1,114,558 {2023 £890,132) of the above costs were attributed to unrestricted funds. Support costs Total 2024 Total 2023 Staff and volunteer costs Premises costs Depreciation Office costs Legal and professional Information techno108V Other Governance costs (note 61 112 68,676 57,340 14,007 5,620 251 8,421 9,035 115,516 47,828 13,786 6,392 565 8,202 9,263 201,552 163,462 Governance costs Total 2024 Total 2023 Fees payable to the charitWs auditor (and its associates) for the audit of the charltvs annual accounts 9,263 9,035 Net Incomlnglloutgoing)resources for the year Total 2024 Total 2023 This Is stated after char8lng: Depreciation Audit fee 47,828 9,263 57,340 9,035 261Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 Staff costs and numbers Total 2024 Total 2023 Salaries and wages Social security costs Other pension costs 1,138,359 70,432 30,165 1.017,669 66,914 26,744 1.238.956 1.111,327 There are no employees earning at the rate of £60,000 or more per annum. The average weekly number of employees during the year, was as follows:. 2024 Number 2023 Number Total 69 67 Trustees, and key management The trustees received remuneration during the year totalling £Nil12023 £Nill. No expenses {2023 £Nill were reimbursed to any trustees12023 - 01 during the year. The total amount of employee benefits recelved by key management personnel IS £239,259 (2023 £231,748). The charity considers its key management personnel to comprise the Programme Director, Deputy Children's Centre Manager. Buildin8 Mana8er and Team Leader. the Finance Manager and two Nursery Man38ers. 10. Tanglble flxed assets 8ulldln8 Improvements Flxtures and equlpment Total Cost At 1st April 2023 Additions 528,424 11,070 145,259 10,940 673,683 22,010 31st March 2024 539,494 156,199 695,693 Depreciation At 1st April 2023 Charge for the year 346,135 41,557 133,511 6,271 479,646 47,828 At 31st March 2024 387,692 139.782 527,474 Net book value At 31st March 2024 151,802 16.417 168,219 At 31st March 2023 182,289 11,748 194,037 271Pa8e
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 11. Debtors 2024 2023 Trade debtors 93,183 64,471 12. Credltors: Amounts falling due within one year 2024 2023 Bank loan Trade creditors Accruals and deferred income Social security and other taxes 10,098 17,934 83,650 9,849 10,702 70,020 1.362 111,682 91,933 13. Credltors: Amounts falllni due after more than one year 2024 2023 Bank loan 16,513 26.820 16,513 26,820 The charSty took out a loan from 8arclays Bank plc under the terms of the Covid Bounce Back loan scheme. The loan is unsecured, is repayable by October 2026 and interest is currently charged at 2.5% per annum. 14. Maturlty of debt Creditors include finance capital which is due for repayment as follows:_ 20Z4 2023 Amounts repayable:. In one year or less or on demand In more than one year but not more than two years In two to five years 10,098 10,353 6,160 9,849 10,098 16,722 26,611 36,669 281Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 15. Capltal commitments There were no capital commitment5 at 31st March 2024 and 315t March 2023. 16. Members, Ilabillty The company is limited by guarantee and has no share capital. Every member of the Association undertakes to contribute to the assets of the company. in the event of being wound up while he or she is a member or within one year of ceasing to be a member for debts and liabilities of the company contracted before he or she ceases to be a member, such amount as may be required not exceedin8 £1. 17. Unrestrlcted funds Asat 01.04.23 Asat 31.03.24 Income Expenditure General fund 189,998 1,309,877 (1,114,558) 385,317 Comparative information in respect of the precedin8 period is as follows:_ Asat 01.04.22 Asat 31.03.23 In¢ome Expendlture General fund 77.923 1.002,207 {890,1321 189,998 18. Restrltted funds Asat 01.04.23 Asat 31.03.24 Iorn• Expendlture Chlldren's centre grants: Children's centre - Liverpool City Council Garston centre - Liverpool Clty Councll 345.174 15,097 {345,174} (15,0971 Nursery grants: Liverpool City Council Capital Grant 2 Bambinis Youth Consortium 61.865 40,281 134,2381 192,0911 143,4601 27,627 43,423 95,233 43,460 Sundry grants: Liverpool City Council Projects 99,150 199.150) 201,296 498,964 1629,2101 71,050 291Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 18. Restrlrted ftlnds (contlnued) Comparative information in respett of the precedin8 period is as follows=_ Asat 01.04.22 Asat 31.03.23 Incorne Expenditure Chlldren's centre 8rants.' Children's centre - Liverpool City Council Garston centre - Liverpool City Council 333,853 9,759 {333,853} {9.759) Nursery grants: Liverpool City Council Capital Grant 2 DHL UK Foundation Bambinis Youth Consortium 102,932 1,500 37.286 141.067) 11.500 182.631) 185,856) 61,865 85.626 8S,856 40,281 Sundry 8rants: Liverpool City Council Projerts Autlsm - Liverpool City Council Hardship fund Other 199,150 5,000 4,052 (ioo.000) 15,0001 14.0521 12,3701 99,150 2,370 349,920 517.464 1666,0881 201,296 Children's Centre- Liverpool City Councll This project is funded by the Government throu8h Local Authorities and can only be used for Children'5 Centre Servlces as defined and a8reed wlth the Local AuthorStYlGovernment under a Senrfice Level A8reement.. Nursery and Kids Club (Chlldcare Provlsion) We operate a 0 - 5 year old nursery alongslde a 4 - 12 year old Kids Club. Grant fundlng has been received to develop and enhance Childcare provision and staff training together wlth Nursery Educational Fund. This is paid from the Local Authority but forms part of an individual entitlement for all children aged 3-4 to receive 15 hours free childcare. Similarly we have been in receipt of a fund pilotin8 the same entitlement for 2 year olds and this pro8ramme is now being launched nationally. Llverpool Clty Councll Capftal Grant Liverpool City Council awarded a grant for the restructure and expanslon ofthe Nursery. The malor works were completed in 2013114. DHL UK Foundatlon DHL provided a total of £15.000 as a contribution towards alterations to the Nursery space. Bambinis Bambinis is a communlty led initiative worklng to support women to initiate and sustain breastfeeding. The charity receives fundin8 through a service level agreement with Liverpool City Council to deliver this citywide service operating through Liverpool Women's Hospital Trust and Liverpool Children Centres. 30IPage
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 19. Analysls of net assets between funds Unrestrlcted Funds Restricted Funds Total Funds Tangible fixed assets Net current assets Creditors due after one year 140,592 261.238 {16,5131 27,627 43.423 168,219 304.661 {16.S131 Net assets at 31st March 2024 385.317 71,050 456,367 Comparative information in respert of the preceding period is as follows:. Unrestrlcted Funds Restilrted Funds Total Funds Tangible fixed assets Net current assets Creditors due after one year 132,172 84,646 126.8201 61,865 139,431 194,037 224,077 126,8201 Net assets at 31st March 2023 189,998 201,296 391.294 20. Related party transartlons There are no related party transactions other than those referred to in note 9 to the accounts. 21. Penslon costs The employers, contributions into the individual pension plans of certain employees amounted to £30,165 12023 £26,744) and the amount unpaid and included in creditors at 31st March 2024 was £Nil12023 £Nill. 22. Reconclllatlon of net Income/lexpendlture} to net cash flow from Operatlng artlvities Total 2024 Total 2023 Net Income/(expendlture) for the year 65,073 136,5491 Depreciatlon char8es Interest payable Decrease I lincrease) in debtors Increase / {decreasel in creditors 47.828 1,250 135.712) 9,442 57,340 1,874 1.286 164,7661 Net Cash flow from operatln8 artlvltles 104,939 140.8151 311Page
FIVE CHILDREN AND FAMILIES TRUST LTD Notes to the Accounts Year ended 31st March 2024 23. Analysls of net debt At l Aprll 2023 Non-cash movements At 31 March 2024 Cash flows Cash at bank Cash in hand 249.004 2.535 73.720 12,099) . 322.724 436 251,539 19.848} 126.820} 71.621 10.057 323,160 {10,0981 {16,5131 Debt due within one year Debt due after more than one year 110,3071 10,307 214.871 81,678 296,549 321Page