Company registration number: 05687000 Charity registration number- 1117739 THETOY LIBRARY The Toy Library Limited (A company limited by guardntee) Annual Report and Financial Statements for the Year Ended J l March 2024 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
The Toy Library Limited Contents Reference and Administrative Details Trustees, Report 2to9 Independent Examiner's Report 10 Statement of Financial Activities 11 to 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Financial Statements 15to24
The Toy Library Limited Reference and Administrative Details Truslees Melkorka Stiller-magnusdottir. Chair Graham Masters, Treasurer Elisabeth Wigoins Marie Wilkinson Martin Rinvolucri Catherine Flint Senior Management Team Celina Adams. Service Director Charity Registration Number 1177J9 Company Registration Number 05687000 Registered Office Chris Firth Cottages Squires Avenue Nottingham NG6 8GG Independent Examiner John O'Brien, employee of Community Accounting Plus Units l & ? North West 41 Talbot Street Nottingham NGI 5GL Solieitors: Counterculture Partnership LLP Unit NH.204 E I Business Studios 7 Whitechapel Road London EI IDU Bankers HSBC Nottingham Clumber Street 26 Clumber Street Nottingham NGI 3GA Page I
The Toy Library Limited Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended ) l March 2024. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: Melkorka Stiller-magnusdottir, Chair Graham Masters. Treasurer Stephanie Brdnnigan (resigned 21 November 202J) Elisabeth w1[1n5 (appointed 19 September 202J) Marie Wilkinson Martin Rinvolucri Catherine Flint (appointed 2 May 2024) Structureg governance and management ature ofgoverning document The charity is a company limited by guarantee and re2lStered charity. It is operdted under the rules of its memorandum and articles of association daled 25 January 2006 and most recently amended on 26 March 2018. It has no share capital and the liability of each member in the event of winding-up is limited to £ l. Recruilmenl and appoinlmenl oflru51ees Each trustee is nominated and seconded before being elected by members at the Annual General Meeting. Trustees also welcome contributions from individuals with a commitment to the aims and vision of the Toy Library without taking on a fonnal commitmenl as a Trustee or Director. These "Management Committee members" take part in Board discussions but do noi have voting rights when decisions are being taken. Typically serving 1-2 years as Committee members, this model has given members of the local community an opportunity to learn how the organisation operates. express their viem's as to its developrnent as well as a period during which they gain confidence and understanding of the role. This has proved very effective as a long term and comprehensive induction process. In addition it is our policy to provide fomial induction to the role of Trustee and provide training follow'ing an assessment of both the needs of individuals and the Board as a whole. Newly appointed trustees are invited to spend time with the Service Director and other senior staff in order to gain an understanding of the day to day work ol the organi5ation. Trustees undergo a skills audit to identify opportunitie5 and gaps in the organisation. Organisalional struclure The Toy Library Limited has a Board of up to ten Trustees elecfrd from our membership or cfropted by the Board where there are vacancies between Annual General Meetin(ws. The Board elect5 a Chairperson, Treasurer and Secretary from the elected Trustees. A Finance and Audit Sub-Group of the Board 5et5 and SctIlliseS financial procedures and meets regularly to oveT5ee ongoing finances and reports to the full Board. The Board is responsible for oversight and the strategic direction of the charity. It employs a Service Director who is responsible for operational decisions, management of all staff and ensuring the eificient and effective running of the charity. Trustees are provided with indudion to the organisation on appointment training when a need is identified. Pay and remuneration of staff are set in line with comparable positions in similar fields locally. Page 2
The Toy Library Limited Trustees, Report Volunteer supporl and development We recruit, train and support volunteers to enhance the delivery capacity of our workforce where appropriate and in order to improve ihe volunteers, personal development and access to training aTJd employment. Major risks and miligalions The Board of Trustees has established a risk management policy for 'hICh they have overall responsibility, with operational responsibilities delegated to senior staff. They re¢o.(mise the need to be alert to risks but are not averse to taking reasonable risks as part of ihe delivery of services, particularly in play and other activities centred around children. The Board expect all staff and volunteers to consider risks involved in any activity and cany out risk assessments prior to delivery of services and activities. risk register is maintained covering the following categories". Governance and ManagemenL Operational, Financial, Environmental: Legal & Regulatory, Technology, Human Resources, Funding and Reputation. This register is reviewed regularly by the Finance Sub Group. New or emerging risks are reported to the Management Committee as part of the Service Director s Report which is presented at every Board meeting. In the event of an urgent risk arising, the Service Director .111 take appropriate action and report to the Chair as soon as possible. The principal risks facing the Toy Library relate to-. a) maintaining organisational strength follom'ing a period of rapid growth, b) maintaining its position and reputation as a catalyst for P05ltive change, c) ensuring that trustees. staff. and volunteer5 are equipped with the skills and tools needed to be effective in an increasingly complex and changeable environment. Objectives and activities Objecls and aim5 The objects for which the Company is fonned shall be to advance the education and development of children by the provision of childcare and play related services and equipment and educating parents as to the importance of play. Also supporting good health outcomes. delivering parenting education and providing social activities designed to support healthy child development and family wellbeing. Our aims and objectives were developed in spOnSe to the severe social and economic disadvantage present in the community of Bulwell from which we grew and continue to both serve and represent. The area is widely regarded as one of the most disadvantaged communiiies in Nottin£ham. The Indices of Deprivatioi) 2019 show that 10 of the I I Super Output Areas (SOA'S) are in the worst IOO/o naiionally for Multiple Deprivation: Income deprivation, Education and Skill deprivation (for which two SOA'S are in the worst l 00 nationally), and Income deprivation affecting children. Our focus on children and families arose because we were founded by parents who knew how hard it is to bring up children in challenglng CircumsLceS and sought to provide support and help. Bulwell continues to be an area where children find it a struggle to achieve educationally M)Y begin school already considerably behind their peers in tem)s of their developmental outcomes. Our activities, listed below.. concentrate on families and their children from birth to the age of 14 years. We engage with children before the), begin school and then during. after school and holiday periods. Through this we seek to complement and support the endeavours of local schools with whom we work in partnership. Page i
The Toy Library Limited Trustees, Report Public benefit The Toy Library Limited (previously named Bulwell Communily. Toy Library) has been operating for 45 years. It 'aS established by local people H'ho knew how hard li Can be to raise childreii in difficult circuinstances. Starting as a toy lending service. The Toy Library has developed as it draws on the experience and energy of local parents who support it by volunteering as well as helping to run it as committee members. We are now one of the main providers of family support and Play activities in Nottingham. Our Th'ork is available to all children and families in this area and across Nottingham. The Toy Library is now well knO,n as playing a pivotal role in addressing both broader social detenninants of health (promoting equity. education, and community cohesion) and more focused social detenninants of health that affect children's development, helping every child to thrive. The trustees confirn) that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Objeclives, slralegies and activilie5 Our purpose We believe that every Child benefits from belonging io a family and every family benefits from belonging to a community. Our purpose is io work alontsside and support children. families and communities to develop, grow and thrive together through parental siipport and therapeutic pla), based activities. Slrategies Our aim is to improve the life chances and opportunities available to children in Bulwell and in doing so directly further our legal purpose; Our long temi aim is that the children of Bulwell will no longer be disadvantaged by low aspirations and poor opportunities to succeed in the fieldls of their choice: Our shorvmedium tern) strate.(YV is to extend our reach to enable more children and fajnilies in Bulwell to benefit from our services. creaie new jobs. provide trainints volunteering opportunities, employability programmes. infomi Commissioning and encourage behaviour Change. Our strategic objectives are to: Provide opportunities for children to learn and develop and thrive- Deliver parenting education designed io support healthy child development and family wellbeing.: Encourage parents and other adults lo appreciate the benefits of play in healthy child development: Deliver and co-produce services w'ith families and public sector partners that are person and child centred and are culturally competent; Promote creativity and raise aspirations in Bulwell- Bring people together for mutual learning and support. Provide services to other organisations that enhance their work. Promote the benefits of outdoor and natural play- Support the local community with the confidence and skills needed to get back into Work following the early care of their children. Page 4
The Toy Library Limited Trustees, Report In pursuing these objectives we operate with the following values and practice5- COMMUNITY INTEGRITY Co-produce service design and delivery with local people and partners Valuing the building of relationships Never giving up on anyone Demonstrating trustw'orthiness Being open & accessible A non-judgemental. respectful approach ENTERPRISE CONFIDENCEIEXPER TISE Pioneering new ways to succeed Entrepreneurial A peer led approach High aspirations Being courageous Activities Pre-school Children: Small Steps Big Changes - This was a significant local universal programme. funded by The National Lottery from 2015 to 2025. Our Family Mentor Service was developed to improve child development outcomes (speech and communication, social and emotional development and nutrition) for children in four wards of the city by intensive, universal services for families with children from conception to age four. We gained a contract to deliver a Family Mentor Service in Bulwell. This entailed intensive home visiting 5UPPOrt and operating ten group sessions per week. This required the employment of 16 employees and is the m05t financially significant service, however the scale of this and its universal reach allow5 US the greatest opportunity to rther our objectives. Our Family Mentors have averaged 250 visits per month for the last year, working with a case load of 330 babies per quarter. Recognition of the Impa of the Famil). Mentor service has resulted in further funding opportunity to deliver a minimum of 2 years targeted Famil). Mentor service in oiher wards of the city. This work ..1]1 be funded by the Health Inequalities fund via our intetrraied care board which will roll out across the city from March 2025. Group sessions for parents 'ith pre-school children. This also includes woodland groups. We successfully opened our Room to Play in 2022. This is a pilot shop front in Bulwell which we leased to deliver services from that overcome one of the most significant challenges facing health and public sector servlces: that of engaging families who don't know about or are susplcious based on their experiences of statutory services. We have been recognised and appreciated for engaging with the hardest to reach families who can be suspicious of statutory of public health services. A Mobile Crèche Service. This was a successful trading activity which provided creches to enable parents with young children to access training, conferences and other events. Whilst this was very popular and successful, with income gained from this activitv going toward sustaining our charitable services where grant income had decreased, the Covid pandemic meant we had to cease deliverv, so we are in the process of rebuilding this. Page 5
The Toy Library Limited Trustees, Report Sehool-age Children: Our Next Steps projecL funded from September 2018 to September 2024 b), The National Lottery, Reaching Communities Fund. aimed at supporting children aged 9-14 )'ears during a period of multiple transitions. 813 sessions have been delivered in the last year with over 17.000 attendances. Further funding bids have been submitted to continue this targeted provision. We have also worked in a local school over the academic year of 231?4 delivering a project aimed at young people who are at risk of exclusion. This has been funded by the NCC tNclude programme which came to an end in July 24. Our Area Based Grants programme was affected by funding cuts and ceased in March 2024. We were able to extend funding for this delivery with a local Partner lill July 2024 and have submitted further funding bids to continue this universal provlsion We are also now the main provider of therapeutic Play activities and are funded by Holiday Activities Fund to deliver play sessions that include a healthy snack in 9 areas of the city. In addition to the food provided in the session and in partnership with our local supern]arkeL we also give each child a healthy recipe card and an ingredients pack so they can cook their family a healthy meal in the evening. Woodland activities. A medium sized woodland near our base provides an ideal venue for forest school and other types of play activities for children of all ages. We utilise this for a wide range of provision, both for local children and as a venue to offer services to schools and childcare providers. In addition. we also organised a number of events and light Sho.5 through the woodlands and invited families to visit independently with their children. Free community events: Due to the cost of living crisis, The Toy Library has committed to offeriTJg community events over the major school holidays. We often do ihis in partnership with the Local Authority, Bulwell OTJe Vision Partnership, a local golf course, community arts organisations. and oiher wellbeing and financial resilience organisations and agencies in the city. Events this year have been Naiional Play Day celebrations and Bulwell Arts Festival. a Halloween spectacle and Chrisimas lights trail through the wo(Kls. Training: The Toy Library is the main deliverer of safeguardlng training to Nottingham s voluntary sector. We also deliver Play training to like-minded organisations and schools. Volunteering and Employability: We employ a Volunteer and Employability Manager who runs a employment hub at the local joint service centre. runs quarterly Equipped to Succeed sessions, supports the local Food Bank by recruiting and supporting volunteers, supporting volunteers w'ho are interested in working with children in our out of school and pre school sessions. We are also partnering with Forest in the Community to roll out Multiply (rnaths and basic numeracy skills for anyone aged 19+). Volunteer hours have built up to an average of 112.5 hours a month. The activities listed above align directly with our strategic objectives and contribute consistently to our Charitable Objects. This year they also reflect significant progre55 against our 5hortlvnedium tenn strategy in that our delivery of the Family Mentor Service for the Small Steps Big Changes programme has extended our reach. We are now able to offer intensive support to all familie5 M"'ith children aged 0-4 year5.
The Toy Library Limited Trustees, Report Perfonnance In order to measure and monitor our performance towards achieving our objectives we cary out the following: Activity: Record number of group sessions run under all categories of service. Record number of individual children and adulis attending group sessions. Record the number of attendances at group sessions. Record activities delivered ai group sessions. Record all home visits undertak.en. Impact: We produce regular case studies to track the qualitative changes that take place in the lives of the children and families with whom we work. We are developing a consistent process by which to measure the social impact that our activities lead to and to demonstrate the difference our work is mak.ing. We will work with external evaluators to measure the social return on investments of our Early Intervention programmes. Volunteers: We recruit, train and support volunteers to enhance the delivery capacity of our workforce where appropriate and in order to improve the volunteers access to training and employmenL Plans for future periods Aims and objective5forfulureperiod5 Our plans are summarised below.. Having grown in size, reach and capacity in the last 10 years. we now face an uncertain future due to the effects of the pandemic and c05t of living crisis. We continue to work to consolidate OUT Position and ensure that we remain effective and eificient in providing our services and activitie5. The Trustees examine and a55ess the progre55 and growth made recently with regard to our relationship with the local cotnmunity and the concept of "optimum size., This is based on their awareness of the benefits of being small-scale and accessible as set against the benefits of operating as a larger organisation. Their aim is to strike a balance in order to maximise our capacity and impact without threatening our relationship and trust with local people. We will continue to provide sector leadership in the fields of play work and family services. Particularly in the light of current and expected further reductions in local authority services. as Nottingham City Councils funding to the voluntary sector has no. ceased. Now ihat local authority play services have ceased, we are now recognised as the main organisation with skills and ability to deliver this essential work. We plan to continue RIK)m to Play beyond the funding we have been allocated. We plan to pursue other funding 5tream5 to continue our luniver5all Family mentor and out of school provision in 25126. We plan to piirsue other funding streams that enable us to reconnect with schools followiT]g our successful funding to support young people struggling to return to school after lOCk._dofft. We plan to strenhen our links with Nollingham Treni University by re-esiablishing our transitional work and summer schools as well as be involved in the Cradle to Career partnership. Page 7
The Toy Library Limited Trustees, Report Financial review As was reported last year, the Small Steps Big Changes (SSBC) Family Mentor contract which runs through to March 2025, has stabilised our finances such thal at the year-end our general unrestricted reserves were £148,976, this after a transfer of £4,065 to our redundancy reserve to reflect an increase in salaries during the year. The balance in the reserve al the end of the year was £J6,992 representing the non- SSBC statT redundancy liability at March '24. Also this year there was a carried over restricted fund for redundancy costs folloil ing the completion of the SSBC project. The transfer of £55,000 to this fund is a stipulation of the funder. that £55,000 is to be held in reserves for possible redundancies of staff whose contracts will come to an end when the funding stream ceases, this will be Caled forward to 3 1st March 25. Policy on reserves We aim to build up reserves in order to be prepared for unforeseen circumstances. We aim to hold three months running costs in reserves which we feel is an appropriate level. At the year end. the reserves were approximately 2.4 months (2023: 1.8 months). At the end of the financial year, total net assets 01£419,295 (2023- £360,228) were held including a designated redundancy reserve of £36,992 (2023- £32,927). A balance of £233.327 (2023- £222,755) is held in Restricted Funds.
The Toy Llbrary Limited Trustees, Report Statemeiit ol Re5pon$ibilities The trnslees (wlio are also Ilie directors of The Toy Library LimÉted for die puiposes of Clmiipany law) are respoiisible for preparing the tivstecs, Irpoi* and tlie financial statenienls in accordance willi applicable law aiid United Kingdom Accoiinting Standards (Unikd Kingdom Generally Aceepted Accounling PJ'a¢tico), illcIiiding FRS 102 "The Financial Reporti1 Slalldard applicable in the UK Y4nd Republic of treland" The report and accounts Ilave been prepared in accordance with the provisions in tlie Conipanies Act 21K)6 IElaling to small companies. Coinpany law require5 tlie Irusiees to prepare financial slatements for eacl) financial year. Under company law the Iruslees must not approve the fInancial statements unless tliey are satisfied that tliey give & Irue and fair view of the siale of affairs of Ihe charitable company and of tbe incoming resources and application of resources, including its income and expenditure, of the charitable coinpany foi. tl)at period, In prepai'ing thes¢ financial statements, the tsygtees are required to.. select suitable accounting p)licies aJ)d apply them consistently. observe the methods and principles in tlie Charities SORP. make jud£enients and eslimaies that gre reasonable and Pent. state wliether &pplicable accounting standards, coniprising FRS 102 have been follow¢d, subject lo any matei'ial departures disclosed and explained tn the financial statements" and prepare the financtal statements on the going concern basis unless it is inappropriate to piesume tbat the cILaTilable company will ¢ontiLiue in busines5. TTrLe Irusrees are responsible for keq)Ing proper accouniiNg records that can dibclthb¥ willi i"easoi)ablc accui.acy al any time the financial position of die chaiitable company and enable rliem to ensure tliat tbe fillancial statements comply with the Companies Act 2006. TLiey air also responsible for safeguarding the assets of the charitable ornpany and hence for taking rcasoiiable steps for tlie prevention and detection of fraud and other irregularities. The trustees are i'esponsible for the maiiilenance and integrity of the corporate and financial infomiation included on the charitable con?panYs website. I£gislation governing the preparation and disseniination of financial statemenls may differ fi'oln legislation iti other jurisdictioThs. Small ¢omp2nlos provlsion statement This r¢port has beeLI pi'epared in accordance wilh the Sn11 coinpanics Icginic under ihe Conipanies Act 2006. Tlie annual report was appinved by the lnte¢S of the charity on 26 November 2024 and signed on its behalf by: oi-ka illei'.Magnusdottir Ti'u Page 9
The Toy Library Limited Independent Examiner's Report to the trustees of The Toy Library Limited ('the Compall) ) Independent examiner'5 report to the trustee5 of The Toy Library Limited ('the Company,) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent eiamination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Chariiies Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's stalement Since the Company'5 gr055 income exceeded £?50.000 YOUT exatniner must be a metnber of a body listed in section 145 of the 201 l Aci. I confim] thai l am qualified to undertake the examiiiation because l am a member and Fellow of the Association of Charity Independent E.xaminers. 'hICh is one of the listed bodies. I have completed my examination. l confirn) that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the Company a5 required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not comply with the accounting requirements of section )96 of the 2006 Act other than any requirement that the accounts give a 'true and faif view which is not a matter considered as part of an independent examination- or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attentioii should be drawn in this report in order to enable a proper understanding of the accounts to be reached. BriLn MSL, FAIA, FCCA. FCIE. employee of Community Accounting Plus Fellow of the Association of Charity Independent Examiners Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Date.. 0911212024 Page 10
The Toy Library Limited Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Total 2024 Total 2023 Unrestricted Reslricted Nole Ineome and Endowments from: Donations and legacies Charitable activities Investment income 639 44,805 869,118 882,250 908,023 2.346 2.346 Total Income 28,758 882,950 911,008 913,925 Expenditure on: Charitable activities 19,7)7 (871,678) (851.941) {812,074) Total Expenditure (871.678) {851,941) (812,074) Net income 48,495 10,572 59,067 101,851 Net movement in funds 48.495 10,572 59.067 101,851 Reconciliation of funds Total funds brought fon¥ard l i7,47J ?2? 755 )60,228 258,J77 Total funds carried forward 18 185,968 2JJ,327 419,?95 J60,228 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdowm for the period is shown in note 18. The notes on pages 15 to 24 forni an integral part of these financial statements. Pagell
The Toy Library Limited Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Reslrieled Total funds fund5 2023 Notc Income and Endowments from: Donations and legacies Charitable activilies Investment income 44,805 44,805 869,118 839,984 Total income 73,941 839,984 913,925 Expenditure on: Charitable activities (18,74J) (793,331 } (812,074) Total expenditure (18,74)) (793,331) {812,074 Net income Transfers between funds 55,198 46,653 (2,306) 101,851 Net movement in funds 57,504 44,347 101,851 Reconcilialion of funds Total funds brought fOard 79.969 178,408 258,377 Total funds carried fon¥ard 18 137,47) 229,755 360,228 The notes on pages 15 to 24 forni an integral part of these financial statements. Page 12
The Toy Library Limlted (Registi'ation llumber- 05687000) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 13,818 15,023 Curren¢ assets Dcbtors Cash at b2nk ftnd in hand io 13,097 436,371 16,224 358,119 449.468 374.343 Ci'editol's: Amounts falling due within one year Net current assets 12 43,991 {29,138 405,477 34S,205 Net assets 419,295 360,228 Fullds of the cbarity: Restricted income funds Restt'icted fviids 18 233.327 222,755 Unrestricted income funds UtJi'¢bLI'ic(ed luiids 185,968 137,473 Total funds 18 419,295 360,228 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit undei. section 477 of Ihc coillpani Act 2006 rclating to small companic5. Dii'ectors, rponsIbIlIties. The menibers have not required tbe charity to obtain an audit of its accoullts for the year in queslioij in aecordance witli section 476. and The dircctors acknowledge their twonsibilities for complying with the requirements of the Act with respect to aeLounting records and the ptrparntion of accounls. These flnancial statements have been prepared in accordance with die special provisions relating to companies subject to tbe small companies regiine withln Part 15 of die Companies Act 2006. The finaiicial stalem Noveniber 2024 Is on pages I I to 24 were approved by the trustees, and autliorised for issue on 26 d on tbeii. behalf by: Giabain Trustcc The notes on pages 15 to 24 fomi an integral part of Ihese financial sta¢einents. Page 13
The Toy Library Limited Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash floivs from operating activitie5 Net cash income 59,067 101,851 Adjustments to cash flow's from non-cash items Depreciation Investment income 1.205 (2,346) 2,648 (2) 104,497 57,926 Working capital adjustments Decrease in debtors Increase in creditors 10 12 7,947 965 14,85) Net cash flows from operating activities 75,906 I l J,409 Cash flows from investing actii'ities Interest receivable and similar income Purchase of tangible fLKed assets 2,346 (1,7fv1) Net cash flows from investing activities 2,346 (1,762) Net increase in cash and cash equivalents 78,252 111,647 Cash and cash equivalents at l April J58,119 246,472 Cash and cash equivalents at J l March 436,371 358,119 Reeoneiliation of net cash flow to movemellt in net (unds Increase in cash 78,252 111,647 Net funds at l April 2023 358,119 246,472 Net funds at 31 March 2024 436,371 358,119 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 15 to 24 forni an integral part of these financial statements. Page 14
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion The Toy Library Limited meets the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaciion value unless othenvise stated in the relevant accoLmting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Income and endowments Voluntary income including donations. gift5. legacies and grants that Provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations are recognised when the charity has been notified in HTiting of both the aTnount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds, the income is defeTred and not recognised until either those conditions are fully met, or the fulfilment of those condition5 15 wholly within the control of the charity and it IS Probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance condition5 are attached to the grant and are yet to be met, the income is recognised a5 a liability and included on the balance sheet a5 defeed income to be released. Page 15
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls consislent with the use of resources, with central staff costs allocated on the basis of time spent. and deprecialion charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneflciaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section ?56 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed a55ets Individual fixed assets costing £500.00 or more are initially recorded at C05t. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost OT valuation, le55 any estimated residual value. over their expected useful economic life as follows- Asset class Depreciation melhod and rate 3).J /0 on a straight line basis 20.00/0 on a Straight line basis 20.00/0 on a Straight line basis 10.OO/o on a Straight line basis IT equipment General equipment Motor vehicles Building improvements Trade debtors Trade debtors are amounts due from Custome for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised initially at the transaciion price. They are subsequently measured at amortised cost using the effective interest metho(L less provision for impainnent. A proi'ision for the impainnent of trade debtors is estsblished when there is objective evidence thal the charity will not be able to collect all amoLmts due according to the original tenns of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 16
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Trade credilors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounls payable are classified as current liabilities if the charity does not have an unconditional right. at the end of the reporting period. to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Fund strueture Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trllstees. Restricted income funds are those grants lor use in a particular area or for specific purpose5, the use of which is restricted to that area or purpose. Pensions and other post retiretnent obligatlOn5 The charity operates a defined coniribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Activities represent the contributions payable by the charity during the year. 2 Income from donations and legacies Unrestricted (unds General Tot21 2024 Total 2023 Donations and legacies: Donations from individuals Grants, including capital grants; Grants from companie5 639 639 847 43,958 44,805 3 Income from charitable activities Unrestricted funds General Restricted funds Total 2024 Total 2023 Grants & donations Sales & fees 882,250 88? 250 839,984 29,134 88?,250 908,02J 869,118 Page17
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 4 Investment income Unrestricted runds General Totsl 2024 Total 2023 Interest receivable and similar income- Interest receivable on bank deposits 2,346 5 Expenditure on charitable activities Unrestricted funds General Restricted funds Tolal 2024 Total 2023 Cleaning Depreciation Equipment, repairs & renewals Events & activities Governance Hospitality & freShm¢llts Insurance Legal & professional Overhead recharges Payroll service Premises maintenance Recruitment Room hire Staff clothing Staff expenses Staff training Stationery & olCe costs Telephone, postage & internet Volunteer expenses Wages, Nl & pension Van costs ,583 1,574 3,157 1,205 1,416 29,453 80 437 6,377 11,269 2,270 2,648 5,705 35,276 3,120 1,314 4,871 45.280 779 28,555 898 80 219 6.377 i.566 (125,864} 904 2.207 218 125.864 904 660 2,656 16,538 58 3,081 1,602 7,505 22,118 11,177 595,244 2,794 9,997 79 21,070 21,070 659 659 545 2.066 4,701 17.660 80 1,525 1,368 14,240 6,069 1,415 679,872 57.506 982 622,J66 591 Utilities Bank charges 4,096 156 7,566 11,662 156 (19,737) 871,678 851,941 812,074 Page18
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 6 Net incomingloutgoing resources Net incoming resources for the year include: 2024 2023 Depreciation of fjxed assets 1,205 2,648 7 Staff costs The aggregate payroll costs were as follows: 2024 2023 Staff cosls during the year were: Wages and salaries Social security costs Pension costs 617,3J9 539,085 27,670 25,960 679,872 595,244 The monthly average number of persons (including senior management team) employed by the charity during the year was as follows.. 2024 2023 Average number of employees 48 45 24 (202J - 24) of the above employees participated in the Defined Contribution Pension Schemes. Contributions to the employee pension schemes for the year totalled £27.670 (2023 - £25,960). No employee received emoluments of more than £60.000 during the year. The total employee benefits of the key management personnel of the charity were £49.540 (2023 - £36,737). 8 Fees payable to independent examiner During the period, the fees payable (excluding VAD to the charitv's independent examiner Community Accounting Plus are analysed as folloM'5- 2024 2023 Independent examination Other financial services 1.745 497 1,575 Page 19
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 9 Tangible fixed assets Land and buildings General equipment Motor 'ehieles IT equipment Building improvements Total Cost At l April 2023 10,000 3.995 4,062 54,134 At 31 March 2024 10,000 21.144 4.062 54,134 Depreciation At l April 202J Charge for the year 21.144 636 39,111 799 406 1,205 At J l March 2024 21,144 1,042 40,316 Net book value At 31 March 2024 10,000 798 i.020 13,818 At 31 March 2023 10,000 ,597 Included within the net book value of land and buildings above is £10,000 (2023 - £10,000) in respect of freehold land and buildings and £Nil (202J - £Nil) in respect of leaseholds. 10 Debtors 2024 2023 Trade debtors Prepayments 6,110 6,987 7,974 8.250 13,097 16,224 11 Cash and cash equivalents 2024 2023 Cash on hand Cash at bank 289 436,082 170 357,949 436,371 358,119 Page 20
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 12 Creditor5: amounts falling due within one year 2024 2023 Trade creditors Other taxation and social security Other creditors Accruals 24,165 7.732 2.094 10,000 13,219 7,029 1,890 7,000 43,991 29,138 13 Charity status The charity is a company limited by guardnlee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 14 Premises The Premises, which was originally a City Council Community Centre, was purchased by the Toy Library in 2006 for £10,000, however, there exists a covenant which restricts the sale of the property. If the property is sold, leased or disP05ed of, the Toy Library will pay the City Council 90 % of the open market value. At present the property is insured for £200,000. The value of £ l 0,000 is included on the balance sheet but not depreciated. 15 Trustees remuneration and expenses No trustees, nor any persons connected with them. have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 16 Taxation The charity is a registered charity and is therefo exempt from taxation. 17 Related party transactions There were no related paty transactions in the year. Page21
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 18 Funds Balance at 31 Mareh 2024 Balance at April 2023 Incoming resources Resources expended Transfers Unrestricted funds Generol Core Costs 104.546 28,758 (4.065) 148,976 Designoled Redundancy Reserve 4,065 Total unrestricted funds 137,47J 28,758 185,968 Restricted funds ABG (Castle Cavendish, Groundworks & Bestwood Partnership) Barkevs Wood Family Mentors programme Play day5 Include ABG (Area l) 29May1961 Next Steps {Big Lottery) SSBC projects redundancy fund Room to play (SSBC) 153,760 (145,106) (14,039) (501,438) (4,?12) (5,008) 8,654 4,392 10,000 1,183 1,503 2,632 5,158 75,098 1,798 509,fv10 5,395 6,511 2,632 5,158 78,017 131,589 (134,508) 55,000 80,150 55,000 69,707 56,924 (67,J67} Total restricted funds 222.755 88?.250 (871,678) 23J,327 Total funds 360,?28 911,008 (851.941) 419,295 The transfer from the unrestricted core cost fund to the desi£naled redundancy fimd was a decision made by the board to increase this fund to reflect increasing staff numbers and salaries. Page 22
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 31 March 2023 Balance at I April 2022 Incoming resources Resourees expended Transfers Unrestricted fund5 General Core Costs 49.770 73.941 (16,155) (J,0 l O) 104,546 Designated Redundancy Reserve Recruitment Reserve 27.611 2,588 5,316 32,927 (2.588) (2.588) 5,316 32,927 Total unrestricted funds 79,969 (18.74J} 137,47) Restricted Barkevs Wood Aboretum Playdays Forest Families Family Mentors programme People in the lead ABG (Area l) 29May1961 Next Steps (Big Lottery} QMC Playdays SSBC projects redundancy fund Room to play (SSBC) 1,581 4,500 8,556 19.250 (20,831 } (4,500) (8,556) (439,2?2) (40,J68} (95,J38} 496.020 (128,779) 1,798 2,580 5,158 79.764 2,490 5,158 78,017 lJl.772 (13J,519) (2,490) 55,000 71,473 55,000 80,150 57,1&1 (48,507) Total restricted funds 178,408 839,984 (793.331) (2,306) 222,755 Total funds 258.377 913.925 (812,074) J60,228 Page 2)
The Toy Library Limited Notes to the Financial Statements for the Year Ended 31 March 2024 The specific purposes for which the funds are to be applied are as follows: The Next Steps fund received money from the National Lottery Reaching Communities Fund and enabled us to provide opportunities for children aged 9-1 J years in Bulwell as the>, go through a number of life transitions; The Family Menloring fund recelved money from the Nottingham City Care Partnership with which it delivers a family mentoring service in Bulwell. The Barker's Wood fund received money this year from Nottinghamshire Community Foundation and NCVS for the provision of woodland pla), and discovery in nature for children at weekends- The ABG funding is the Area Based Grant received to deliver play sessions to children and families in the Bulwell area, the Area I restricted fund was a continuing project from previous years and the further funding received this year has been shown separately- The 29 May 1961 Charity. funds are also for play projects continuing in the next financial year- The SSBC projects redundancy fund is split from the Family Mentors & Room to Play funds to hold the amount of £55,000 in a redundancy reserve, as Specified by the tunder, for the staff etnployed in these projects- The Room to Play projecL received tnoney from Small Step5 Big Change5 which was used to fund an extension to the Family Mentor Service by offering an accessible drop in venue for families of 04years in the middle of Bulwell centre. The Include project received funding from Nottingham City Council and was a project aimed at young people at risk of exclusion from school. This funding will cease in July '24. Last year: The Forest Families fund received funding from Boois Charitable Trust and was to provide free weekend family woodland play sessions, ty'pical activities would include nature exploration, den building and bush craft. Forest families funding ceased in May '23. The QMC play sessions funding from Terracycle was put towards play projects. 19 Analysis of net a55ets between fuDds Unrestricted 2024 Tot21 funds General Designated Restrieled Tangible fjxed assets Current assets Current liabilities 13,818 179,149 (43,991) 13,818 449,468 (43,991) 36,992 233,327 Total net assets 148,976 233,327 419,295 Unrestricted 2023 Total funds General Designated Reslrieled Tangible fixed assets Current assets Current liabilities 118.661 (29,1 J8) 222,755 J74,34J (29,1 J8) Total net assets 104,546 229,755 360,228 Page 24