2022-03-31-accounts

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Company number: 05424738 Charity number: 1120124

1st Place Children and Parents’ Centre Ltd.

Report and financial statements For the year ended 31 March 2022

1st Place Children and Parents’ Centre Ltd.

For the year ended 31 March 2022

Reference and administrative information ...................................................................................... 1 Chair of Trustees’ report ................................................................................................................ 2 Trustees’ annual report .................................................................................................................. 4 Independent auditor’s report ....................................................................................................... 19 Statement of financial activities (incorporating an income and expenditure account) ................... 23 Balance sheet ............................................................................................................................... 24 Statement of cash flows ................................................................................................................ 25 Notes to the financial statements ................................................................................................. 26

1st Place Children and Parents’ Centre Ltd.

Reference and administrative information

For the year ended 31 March 2022

Company number 05424738 Country of incorporation United Kingdom Charity number 1120124 Country of registration England & Wales Registered office and operational address 12 Chumleigh Street LONDON SE5 0RN Trustees Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows: Karen Walker Chair Philip Wilkins Treasurer Ben Asmah Heba Ayoub Symon Bacon Douglas Buist – Resigned September 2021 Lucy Brazener – Resigned May 2022 Alan Dallas Ruth Francis Lucy Grove Anna Hessenbruch – Resigned May 2022 Nigel Lloyd Darren Mason Heather Munn Wenli Tsai Lornette Pemberton – Appointed April 2022 Key management Nicola Howard Director and Company Secretary personnel Bankers Barclays 1-3 Butterfly Walk Camberwell London, SE5 8RW Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor Invicta House 108-114 Golden Lane LONDON, EC1Y 0TL

1st Place Children and Parents’ Centre Ltd.

Chair of the Trustees’ report

For the year ended 31 March 2022

Chair of the Trustees’ Report

I am pleased to share with you the latest Annual report and audited accounts of 1st Place Children and Parent centre. It has once again been a busy year of gradually recovering from the effects of the pandemic and trying to settle both staff and children into old routines, continue with some of the better new ones that were established through the pandemic and make new ones for going forward into the brave new world we are facing post-pandemic.

Last year I shared a poem to reflect how 1st Place had gathered itself and begun the slow recovery. This year we have followed this trend, but there have been ups and downs, changes in staffing meaning the senior team have had a lot to do ensuring good induction has happened, supporting the children though this change building important relationships with parents and helping them learn the ethos behind 1st Place, all the while being mindful of the continuing restrictions that were in place. The team behind our Children & Family Centre services navigated the ever-changing COVID restrictions, ensuring that families some of whom had been at risk of isolation, got the help they needed, from understanding their child's development, leaning English, finding suitable housing or to coming to our many play learning activities.

Above all children respond well to routine and structure in their day, so they can feel safe and confident in the activities they are engaged with and the adults they are surrounded by. We are lucky to have a strong and very able senior team who guide and support the teams in their daily work to ensure the best possible outcomes for children, in our nurseries and our wider family services. During this past year we were fortunate to achieve a good outcome in our latest OFSTED inspection at Cambridge House; although it did not reflect some of the incredible work Sara and her team have done there in developing their tool for supporting children acquiring language. I am proud of what all of our nurseries have achieved during such a challenging time. Well done team.

During this year we saw the reintroduction of in-person Trustee Board and sub-committee meetings, while still offering the flexibility of joining remotely. It was a year of change within the Board as some decided to move on, either due to the end of their tenure, or making a change in personal circumstance. I would like to take this opportunity to thank them on behalf of 1st Place for their fantastic support and dedication to ensuring the children and families of Southwark are in the best possible place to thrive and develop; and to welcome those new Trustees who join at a time of development and renewal. I hope that you will enjoy your time as a trustee and welcome you as a valued and vital part of our team at 1[st] Place.

Finally, last year I began with a poem and this year I would like to end with one. In early years we often speak about scaffolding as a way of building children’s learning. The work our Early Education teams do reflects scaffolding of children’s language, and it is something we all do at home with children in our daily interactions. So, it seemed to me this poem reflects how we at 1st Place create a secure and trusted environment, building solid walls within which children can feel safe and thrive.

1st Place Children and Parents’ Centre Ltd.

Chair of the Trustees’ report

For the year ended 31 March 2022

Masons, when they start upon a building Are careful to test out the scaffolding; Make sure that planks won’t slip at busy points Secure all ladders, tighten bolted joints. And yet all this comes down, when the job’s done Showing off walls of sure and solid stone. So if, my dear, there sometimes seem to be Old bridges breaking between you and me Never fear. We may let the scaffolds fall Confident that we have built our wall.

Seamus Heaney 1939 - 2013

Thank you to all the incredible people who make up 1st Place.

Karen Walker Chairperson, Board of Trustees

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

The Trustees (who act as directors of the Charity for the purposes of the Companies Act) submit their annual report and the financial statements of 1st Place Children and Parents’ Centre for the year ended 31 March 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association, the requirements of a director’s report as required under company law, and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

The trustees review the aims, objectives and activities of the charity each year. This report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure that the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

1st Place is comprised of a purpose-built Children and Parents’ Centre, with a number of additional sites providing early education and family support. It achieved charitable status in 2007 and has worked with the following aims:

1st Place shall be for the benefit of the residents in the London Borough of Southwark in particular families with young children, by:

Advancing the education of the residents through the provision of training and childcare facilities;
The provision of advice, support and guidance on issues relating to childcare, parenting, education, health and the environment;
The provision and maintenance of a family centre;
Encouraging the study of the needs of children and families in the (local area) and promoting public interest in and recognition of these needs; and
The promotion of environmental education and awareness.

How we work to achieve these objectives

1st Place achieves these objectives through the provision of;

Innovative, high quality early learning experiences for young children;
Training, volunteering and employment opportunities for local parents and other residents;

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Support for the regeneration of the local community in order to contribute to long-term social and economic stability.

1st Place Children and Parents’ Centre also aims to nurture a community culture that celebrates diversity; a culture that models respect and support for young children and families as well as caring for the environment. 1st Place aims to support the ongoing growth and development of individuals and groups within the local community.

Our Aims

Since our inception in 2005, 1st Place’s aims have focused on the locally identified needs of children and families. 1st Place objectives also support Southwark Children & Adult Services to deliver services and support within the Families Matter agenda and the achievement of the corporate priorities for Southwark’s Children and Families’ Trust’s Children & Young People’s Plan.

The Board of Trustees, the Director and senior managers have continued to develop the strategic direction of 1st Place and to action priority areas identified at the start of the year.

Our areas of focus are:

1st Place at the Heart of the Community.
Excellence in All We Do.
High Performing Teams.
Financial Sustainability.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Elm House
Cambridge House & Talbot
Pembroke House
Evelina London Health Visitors

Achievements and Performance

1[st] Place at the Heart of the Community

Having another year where our ability to provide services to our community was limited, the importance of what 1[st] Place offers to children and their families in their earliest years remains very clear. With all that the first year of the pandemic had brought, with new ways of working that were developed, we were well placed to meet the challenges that the continued restrictions and directives brought.

In December 2021 levels of infection amongst staff increased and with the Delta and Omicron variants came the return to restrictions. As always, the whole team worked hard to maintain services, but on a small number of occasions it was not possible to keep our nurseries open for all children. Due to this and the ever-changing nature of the pandemic, we maintained the measures put in place to reduce infection rates for longer than required, with classroom ‘bubbles’ and parents continuing to drop their children to nursery at the entrance to our buildings.

Community services were open for our more vulnerable families, with targeted sessions resuming towards the end of the summer as permission to meet in larger groups was given. At first, families were quite reticent to meet, and as a result smaller sessions were put in place. With the encouragement of the Family Service staff, they felt safe and in control of mixing socially with staff and other families. For those who were not ready to return to meeting face to face, we continued to provide sessions using video conferencing, which helped us stay connected with those who needed the most help.

Early Education

Our aim to further develop SEND expertise and capacity within the nursery team to support our work with children with identified extra needs was vital this year as the need continued to grow. Over the last year we have invested in the development of our SEND team, with a full time SENCO in place from June 2022, providing a first point of call for parents whose children need additional help and the professionals who support them. They supported 48 children across all three nurseries three of which were in receipt of inclusion funding and 6 had an Education, Health and Care Plan (EHCP) in place before they went to school. Work with children who are hearing impaired has increased our contact with specialist teachers, with plans for a targeted play learning session in Autumn 2022.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Demand for our nurseries returned to pre-pandemic levels as restrictions were relaxed, with nurseries operating at above target levels of occupancy. Between April 2021and March 2022, 289 children attended our full day care, and 130 children attended our sessional provision.

Managing the impact of coronavirus became more involved/active as structures for reporting were established. Reports to Public Health and Ofsted became part of our daily routine, as infection levels increased within the staff team and families of children attending our nurseries.

In March 2022 we began to make plans to invite families back in – some parents had only spent a couple of days inside our buildings when they were settling their children into nursery.

Our plans for a second ‘Vision of the Child’ exhibition were delayed for another year due to the pandemic. However, our Early Education managers presented at two conferences at the University of Greenwich. In June 2021 they spoke about our learnings from our first Erasmus visit and how it created the idea for our first exhibition. In March 2022 Marie Skelton and Bunmi Adams contributed to a seminar about ‘Stretching Children’s Learning’.

The Importance of outdoor, physical play remains a priority in our nurseries and Children and Family Centre services. With levels of obesity in young children in our community still at very high levels, establishing habits for active play in the early years is ever more important. We continue to develop the skills of our staff team with three Forest School practitioners and plans for a further two to be trained over the next year. Groups of children attend weekly sessions at the Forest School site in Burgess Park, where they can explore and develop new skills in a natural woodland area. Our ‘Healthy Movers’ and ‘Southwark’ Mile are popular sessions accessed by families through our Children & Family Centre services. During periods of restricted indoor gathering, they provided chances for children and parents to play together outdoors, which are helping to address the impact of the pandemic on the physical development of small children.

In March 2022, we achieved a Silver Healthy Early Years London (HEYL) award. HEYL is a scheme funded by the Mayor of London which supports and recognises achievements in child health, wellbeing and development in early years settings. Getting a good start in life, building emotional resilience, and getting maximum benefit from education are the most important markers for good health and wellbeing throughout life. As an Early Years setting, we can lay the foundations for lifelong health and wellbeing. We will work towards the Gold award over the next year.

Marking significant points in the year for our nursery children is important to us developing relationships with children and their families, such as cultural events and marking transition to school. While we were forced to suspend Eid and Christmas parties for children last year, we managed to celebrate this year, although some nursery groups were affected by the increased levels of COVID at the end of 2021. All nurseries had a graduation celebration, with parents joining by Zoom, and videos were shared with the parents.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Due to the continued travel restrictions caused by the pandemic, it was not possible to plan for the Erasmus+ study visits to Iceland, Italy and Poland in 2021. In late May 2022, a group of 11 staff visited Parma and Reggio Emilia, to learn more about approaches to enabling children to challenge themselves, take risks and develop their physical skills. This was followed by a second visit to by 10 staff to Elblag in Poland where we continued to explore the subject of managing risk in early years play. Due to the limited time remaining in the programme, it was not possible to complete the visit to Reykjavik.

Supporting our Families through Children and Family Centre Services

The Children and Family Centre commissioning negotiations continued to the end of 2021-22 period, with reassurances that agreements would be in place for the start of 2022-23 year. We maintain a clear commitment to this important part of the 1[st] Place offer, with a goal to fundraise to offset the impact of funding which has remained at 2016 levels. We began the year with resources to maintain staffing levels and premises, but the possibility of funding additional support, such as interpreting, from the commissioning budget is unlikely. To address this, as a charity we can commit our surplus to specific projects but have made progress towards active fundraising in order to ensure we can maintain Family Services if funding decreases or ends with the current commissioning period in March 2024.

The Family Services team adapted quickly to new ways of working to ensure we were in regular contact with children and families during a difficult time. However, there were fewer opportunities to contact those who were new to the area, or who were new parents meaning that some families may not be getting help when they needed it. During 2021-22 1013 new families were registered to Borough Bankside and Walworth children's centres. While numbers of registrations have increased since 2020-21 and the impact of the first lockdown, it is even more important that we are ensuring that our services are reaching as many children as possible. Due to this we took the decision to create a part time Community Family Worker position, focussing on outreach to families in our local community, and re-establishing links with our partners in health, education and with other community-based organisations, who will signpost families to the Children & Family Centre and its services.

As we became more accustomed to navigating the fluid, frequently changing restrictions of the pandemic, we re-established services at our main site in Chumleigh Gardens, and continued services established at our site at Victory School. 405 sessions were delivered, with 1876 individual attendances by children and their parents at sessions supporting play and child developments as well as parenting, family learning and ESOL. Health services provided by Evelina Hospital Trust also began again, with child development clinics running each week from Victory. This has already made a positive impact on our outreach to families with children under 2 years of age. We hope to have Health Visitors based within the Children & Family Centre by second quarter of 2022-23.

The Family Services team offer developed during the last year to include working with the whole family. Our Early Years Practitioners based within this team are now providing one to one (121)

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

support alongside play learning sessions and support to partner services through provision of creche. Building on new ways of working during the pandemic, practitioners encourage families to attend sessions offered at the Children & Family Centre as well as maintaining regular contact by telephone or home visits. This compliments the 121 family support given by Community Family Workers, whose cases are allocated through a central referral process within Family Early Help. During 2021-22, 55 families were referred 121 support with Community Family Workers and 142 referred for support from the Early Years Practitioners.

Over the next year, following a successful bid for funding, Southwark Family Early Help will begin to develop a network of Family Hubs which provide local support centres where families with children and young people aged 0-19 can access a broad and integrated range of early help to overcome difficulties and build stronger relationships. They will be based in existing Children and Family Centres as well as schools. As a provider of Children & Family Centre services, 1[st] Place will be part of the Family Hubs programme.,

Partnerships

The impact of the COVID-19 on the mental and physical health of children and their parents was seen early in the pandemic and the effects are seen in our day-to-day interactions with families in the community. The increase in levels of domestic abuse have made our long-standing partnerships with Bede House vital to getting the support to those who have moved through the traumatic process of leaving an abusive relationship. During 2021-22 over 50 people attended the Freedom group at 1st Place.

Over the last year, the Rose Vouchers for Fruit & Veg Project has gone from strength to strength. The project pivoted from its focus on healthy eating, to be key to addressing the issue of food insecurity in the borough. Since 1st Place began the partnership with Alexandra Rose Charity and Guys & St Thomas’s Charity, a total of 1,231 families have been registered to the project, and 562 registering this year. Over 600 families collect their Rose Vouchers each month. There are now six distribution partners in Southwark. Linked to these partners are eight distribution partners, with ten distribution sessions each week in the borough.

Volunteers are crucial to the success of the Rose Vouchers for Fruit and Veg project. Fourteen new volunteers, many former or current Rose Voucher families attended the Rose Voucher Volunteer Induction Training June and July 2021. Twelve went on to be regular volunteers, with one taking up paid employment as our Rose Vouchers Administrative Assistant. Twelve further volunteers were trained in March 2022. We are immensely grateful for the time and commitment they give to making this project such a success. Funding for the current project ends in December 2022.

We continued to host the Fathers Parenting group and advice sessions delivered as part of Southwark Family Early Help parenting strategy. We have enjoyed welcoming this group each week and have seen the dads begin to ask questions about nursery places for their children and information about other

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

services in the Children's Centre. We plan to build on this important work with Dads and male carers with our Saturday Dads group starting again in September 2022. This will also facilitate access to the main centre at Chumleigh Gardens for other partners at weekends.

Communication & Marketing

Maintaining regular contact with families remains a priority, especially during the period of lockdown.,. With daily information from Public Health England and the Department for Education, we issued weekly e-mail updates and urgent notifications to nursery families using the Blossom Educational app, and this continued until April 2022.

Since restrictions have been lifted and the re-introduction of people into the buildings, we have been able to use printed material to promote services, family services sessions, recruitment as well as for the Rose Vouchers project and postcards for outreach to families and partners.

Staffing has been an ongoing issue, we have been using social media advertising monitoring data and adapting ads and ad placement accordingly and have created posters and flyers with QR codes, some of which have also been distributed to local business and colleges.

We are continuously trying to improve communication with parents and staff by listening to feedback and implementing changes reflective on this, feedback is mainly gathered via surveys and discussions with the Early Education, Family Services and Administration team. We have introduced a new newsletter format, using Mailchimp, which allows us to monitor how many people are reading the updates and following link providing valuable insights to support service improvement. The parent update has had a great response so far with consistent open rates of over 70% and great engagement.

We are using feedback and investigation to identify where changes could be made on the website to improve access to information about services and activities.

We have made changes for the Rose Vouchers pages and a new page has been created for nursery parents, containing links to the HUB & Library and nursery related news.

We have been revisiting the customer journey, with focus on KPI and conversion rates, to help identify what improvements can be made in the initial stages of enquiries and parents joining the nursery as well as looking at the overall satisfaction of current parents.

High Performing Teams

The team at 1st Place are at the heart of the help we offer to children and their families. Because of their commitment to our work, as an organisation we are committed to making 1[st] Place the best place to work. While the current economic situation continues to be challenging, the Board of Trustees were committed to ensuring that pay awards reflected the increased cost of living. Employee benefits are also a focus, with reduced nursery fees, interest free loans and generous annual leave allocations. Staff wellbeing is also important, and over the last year we have offered yoga, workstation

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

wellbeing advice and massage therapy to support physical wellbeing. A Death in Service benefit is also now offered to all permanent staff.

Our commitment to equity, diversity and inclusion remains a focus for the senior leadership team, Trustees at 1[st] Place. Staff and Trustees meet at our fortnightly Equity Diversity, Inclusion and Antiracism meetings. A sixth member of the team was trained as an Equity, Diversity and Inclusion representative. This team meet regularly and are beginning to review 1[st] Place policies and develop resources including those to help the team understand appropriate language and terminologies so we can celebrate the rich and diverse team we are part of. To support this, the whole staff team undertook Unconscious Bias training this year. Bringing everyone together to discuss the biases we all have and think how we can challenge this individually and as a team was very powerful.

A new structure for Early Education staff development was implemented this year. This gives a clear competency-based procedure for practitioners at all levels to progress and is no longer exclusively linked to qualifications. With the commitment last year by Trustees to developing our fundraising strategy, our fist attempts to recruit a fundraiser were unsuccessful due to a competitive market for these skills. We have however worked with an external consultant to develop our case for support, with funding applications being submitted in the second quarter of 2022.

Serious Incident Reporting

We have procedures for the reporting of serious incidents to the Charity Commission in accordance with the statutory requirement under section 169 of the Charities Act 2011. Trustees confirm that there were no serious incidents or other matters relating to 1[st] Place Children & Parents Centre Limited during the year that should have been brought to the attention of the Charity Commission.

Safeguarding Duties

As an organisation 1[st] Place acknowledge and act on our duty of care to staff and service users. Trustees recognise that being safe and free of abuse is central to ensuring the continued promotion of a person’s wellbeing. 1[st] Place has policies and procedures in place to enable us to respond to all concerns of abuse appropriately, operating in line with the Southwark Safeguarding Children’s Partnership Board guidance and Pan London Multi-Agency Safeguarding Policy. Our policies and procedures for children and adults at risk are reviewed annually. Our trustee safeguarding lead is Lucy Brazener for 2021-22. All Trustees are required to undertake Safeguarding for Trustees training. The Director is the Named Person, supported by seven Designated Safeguarding leads. All staff have Safeguarding Children training on appointment and every two years, appropriate to their level of responsibility. Senior Managers undertake Safer recruitment training every three years. In 2021-2 all Early Education staff undertook Domestic Violence Awareness Training and Understanding Adverse Childhood Experiences.

Trustees confirm that Internal processes concerning the conduct of members of the 1[st] Place team show there were no allegations made against a trustee, an employee, an intern, or a volunteer by a service user during 2021-22. There were two complaints raised to Ofsted in relation to care of children in our nurseries, which were not upheld with no further action.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Financial Sustainability

We ended the last financial year in protracted negotiations with our insurers regarding compensation for interruption of business during the first lockdown. We learned in September 2021 that our claim had been settled, awarding £245,568 of a possible £250,000 maximum cover. We are grateful to our Treasurer, Phil Wilkins for his tenacity and time given to pursue the claim on behalf of 1st Place.

However, the financial impact of COVID-19 on 1st Place continued through the second year of the pandemic. While there were not the extensive closures of the previous year to negotiate, we were required to close ‘bubbles’ of children and staff where there were outbreaks of coronavirus within the groups. As contracts stated that where we were unable to provide a service, families were not charged for the second week of closure, and this impacted our income during periods with higher infection rates.

With improved reserves exceeding the expected three months operating costs, at the end of 2021, Trustees began to explore how surplus income could be invested to generate further charitable funds. However, with the outbreak of the conflict in Ukraine, and a change in the global financial markets, the decision was taken to pause this work until the markets stabilise.

We were informed at the end of May 2021 of the intention of Cambridge House to sell their building. As a long-standing tenant this has created a period of uncertainty for staff as well as current and prospective families. We were notified of a sale in August 2022 and we have begun discussions with the new owners in relation to our tenancy going forward. Our intention has always been to maintain three nursery sites, and senior managers and Trustees have plans in place to ensure that we can maintain capacity should the intentions of a new property owner change.

Following a donation over a period of two years from an external beneficiary, 1[st] Place has created a Nursery Support Fund, to help current nursery families through short term financial challenges such as loss of employment or a move into employment. The fund is to enable a child's nursery place to be maintained in the short term until the family circumstances become more stable. To maintain this fund into the future, 1[st] Place will contribute 10% of its annual surplus. We hope that in the future a similar fund can be developed for families within our wider community to support through small grants.

Ensuring that our buildings offer the best environment for staff and those who use our services, our facilities team have made several improvements over the last year. The kitchen where all the food for our nurseries is prepared was refitted increasing storage and preparation space for the team. As the number of children attending the Lorrimore Square nursery has grown, access to outside play space has become an issue. Working with St Pauls church and the Diocese of Southwark, plans for extending the current provision have been submitted to Southwark Planning, along with a new door providing direct access to outside space.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Principal funding

The continuing growth and success of 1st Place this year has been facilitated by consistent funding and we would particularly like to acknowledge Southwark Children and Adult Services for the allocation of Children and Family Centre funding, the Free Early Education Entitlement and Free Early Education Offer. As ever, the continued commitment of local parents to our nursery, and of local services and groups for our room hire, is crucial to the continuation of our services.

Investment policy and performance

1st Place banking arrangements are held with Barclays Bank. Funds are held between a deposit account and a current account. There are no bank/savings accounts currently available that would generate any significant interest income.

Financial review

Paramount to a strong charitable enterprise is sound business practice ensuring strong reserves capacity. Last Year, was the second successive year when our normal working was significantly disrupted by both Covid related absences of our staff, children, and changes to working practices imposed by Covid regulations.

Once again, our resourceful staff adapted to these changes maximising the level of service we offered to both our children in our nurseries and the local community delivered by our Children’s Centre Service team.

Our revenue recovered significantly in the second half of the financial year which has enabled us to make a pay award to our dedicated staff of approximately 6% from the start of the new financial year, April 2022.

Nevertheless, recruitment and retention of staff at all levels continues to be one of our greatest challenges.

There is a question mark over the continuing occupancy of our nursery facility at Cambridge House due to possible change of ownership. We have robust contingency plans to maintain our existing capacity’.

As a result of the above, our General and Designated Reserves increased in the year by £105K to £1,043K which represents 5.4 months cover of related expenses.

Our Restricted Reserves increased by £15K to £192K which represents 4.7 months cover. Overall, our Reserves represent 5.2 months cover of expenses. We consider this to be a satisfactory level of reserves.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Despite continuing operating difficulties, due to the dedication and quality of our frontline staff coupled with then strength and experience of our Senior Management team, we are comfortable with our depth of Reserves. Overall, we closed the year with Total Funds representing 5.3 months cover of Expenses.

Reserves Policy

The 1st Place Reserves Policy is to maintain total free reserves, excluding the element which relates to tangible fixed assets, at a level which is no less than approximately three month's operating costs. This policy provides the ability to cope with unforeseen expenditure of both a capital and an expenditure nature, and with interruptions in income flows. 1st Place has focussed on building adequate reserves over the last eleven years, while within the sector there had been a shift towards risk-based reserves policies. However, no one could have foreseen the impact of a global pandemic on both commercial as well as not for profit sectors, and never has the need to maintain adequate reserves been more apparent.

The Reserves Policy is reviewed and amended annually by the Board of Trustees.

Free reserves at 31 March 2022 were £938k, an increase of £64k on 31 March 2021. This is equal to 4.8 months of total expenditure and so above the targeted level set by the Board of Trustees of £587,168.

Fundraising

1st Place Children and Parents’ Centre Ltd does not engage in large scale public fundraising and does not use professional fundraisers or commercial participators. Nevertheless, the charity observes and complies with the relevant fundraising regulations and codes. During the year, there was no noncompliance of these regulations and codes and the Centre received no complaints relating to its fundraising practice.

Plans for the future

Over the next year, working within our 2021-2024 Strategic Plan we will:

Continue our commitment to1st Place being an organisation where equity, inclusion and opportunity is a reality for everyone.
Develop new community partnerships to compliment education and community support offer.
● Develop our Adult Learning offer
Set in place target setting and mechanisms for measuring recruitment and for staff retention
Goal to offer all salaries above London Living Wage
Develop fundraising capacity

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Structure, governance and management

1st Place Children and Parents’ Centre is a registered charity and company limited by guarantee with no share capital. The liability of Trustees in the event of insolvent liquidation is limited to £1 each. The members of the Board of Trustees are appointed by members of the Board. Day-to-day management of the Charity is delegated to the Director who is responsible for other staff. The Board of Trustees meet regularly, with four sub-committees (Early Education, Finance & General Purposes, Human Resources and Safeguarding) overseeing the operational activities of the organisation. The Full Board meets quarterly to approve the business undertaken in the sub-committees. Additional working groups convene as and when required. Trustees are given appropriate induction, upon appointment, and ongoing training as required in order to assist them in fulfilling their role.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 6 to the accounts.

Remuneration Policy

We recognise the importance of being transparent and accountable in all aspects of our work, including how we reward and recognise our staff. We are working towards paying the London Living Wage (or becoming an accredited Living Wage Employer). The London Living Wage is an hourly rate set independently and updated annually, based on the cost of living in London.

1st Place 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 greatest impact in delivering our charitable objectives. In deciding on levels of pay, the following factors are taken into account:

The mission, aims, objectives and values of 1st Place.
How any decisions might impact on the overall pay policy for all staff.
The type of skills, experience, competences etc. that our organisation needs.
A significant increase in responsibilities for a member of staff, or major change in job description.
Our current strategic business plan and how this might affect future needs.
Our ability to pay. It is our aspiration to pay a cost of living increase each year to all staff.
Regular benchmarking of salaries relative to pay levels in other charities in the sector of similar size, budgets and responsibilities, using independent external information.
Our track record in recruiting and retaining high-performing staff.
The impact of any decision on our public reputation, especially amongst our service users and stakeholders.

Performance Management

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

We have a performance management and appraisal policy that:

Promotes a consistent approach to workforce supervision throughout 1st Place.
Ensures that supervision is geared to achieving the organisation’s objectives.
Addresses the personal impact of work on all 1st Place’s staff, volunteers, interns and trainees.

Risk Assessment

The Board of Trustees regularly review and assess the risks faced by 1st Place in all areas of its work, and plan for the management of those risks. The management ensure that all plans and decisions take into account the possibility of negative outcomes. There is a Risk Register which is compiled and monitored monthly by the Finance & General Purposes (F&GP) sub-committee, reported on quarterly at meetings of the Full Board and reviewed annually in order to ensure that the material risks to which the charity is exposed are properly evaluated and managed. The Director and senior management team implement appropriate mitigating actions to address the residual risks, mitigating them to a level the Trustees consider acceptable. The Board of Trustees recognises that, to achieve the objectives of the charity, the nature of some of 1st Place work requires acceptance of some risks that are outside our control, that is, risks which cannot be eliminated, so where this happens there is active and clear monitoring of the risk. The Facilities Manager will carry out a risk assessment when any risk is identified. The Risk Register working group reporting to F&GP sub-committee are working with the senior management to solidify the appropriate systems and controls to monitor, manage and mitigate exposure to risks. Principle risks and uncertainties are assessed for impact and likelihood. The highest risk areas have been identified as follows:

Failure to generate sufficient income
The volatile global economic situation and its effects on general inflation are already impacting on costs of utilities and housing for parents and service users. This may affect parents’ ability to pay nursery fees. We will implement the Nursery Support fund where we are able to help short term financial difficulties for families using the nursery. The board will work with the management team to identify how we can support staff at critical points.
o Increased running costs will impact our ability to generate a surplus and may reduce our free reserves.
Regular monitoring of occupancy using latest nursery management software so that trends can be identified and forward planning termly is effective so that waiting lists can be maintained. Performance in the Children and Family Centre maintained at a high level so that funding continues.
Failure to effectively manage budget and liquidity
Close monitoring monthly and quarterly of income and expenditure at an operational and strategic level by managers and Trustees.
Budgets reviewed by Treasurer, Director and Finance Manager to ensure they are realistic and achievable, with reforecasting as necessary.
Recruitment and retention of early education staff.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

The need to remain in state of preparedness to mitigate issues that may affect capacity and staffing will remain a focus for managers, with expectations of further COVID-19 outbreaks anticipated.
Ensuring that standards are maintained with Ofsted at Good or Outstanding through investment in recruitment of well qualified staff and investment in ongoing CPD.
Changes to ownership of nursery sites create the need to change how our services are delivered and managed in both interim and long-term planning

Statement of responsibilities of the trustees

The Board of Trustees is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the Trustees, who are also the charitable company’s directors, to prepare financial statements for each financial year. Under that law, the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:

Select suitable accounting policies and apply them consistently.
Make judgements and estimates that are reasonable and prudent.
State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
Prepare the financial statements on a going concern basis (unless it is inappropriate to presume that the charity will continue in operation); and observe the methods and principles of the Charities SORP.

The Board of Trustees has overall responsibility for ensuring that the charity has an appropriate system of controls, financial and otherwise. They are also responsible for keeping adequate accounting records, which disclose with reasonable accuracy, are sufficient to show and explain the charity’s transactions and the financial position of the charity at any time and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the detection and prevention of fraud and other irregularities.

Statement of disclosure of information to auditors

We, as the directors of the charitable company who held office at the date of approval of these financial statements as set out on page one, each confirm, so far as we are aware, that:

There is no relevant audit information of which the charitable company’s auditors are unaware.
We have taken all the steps that we ought to have taken as directors in order to make ourselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

1st Place Children and Parents’ Centre Ltd.

Trustees’ annual report

For the year ended 31 March 2022

Preparation of this report

This report has been prepared taking advantage of the small companies exemption of section 415A of the Companies Act 2006.

Auditor

Sayer Vincent LLP was re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity.

The trustees’ annual report has been prepared in accordance with the special provisions applicable to companies subject to the small companies’ regime.

Approved by the trustees on 5 September 2022 and signed on their behalf by

Karen Walker Chair

Independent auditor’s report

To the members of

1st Place Children and Parents’ Centre Ltd.

Opinion

We have audited the financial statements of 1st Place Children and Parents’ Centre Ltd (the ‘charitable company’) for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Give a true and fair view of the state of the charitable company’s affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure for the year then ended
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice
Have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) 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, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on 1st Place Children and Parents’ Centre Ltd'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 going concern are described in the relevant sections of this report.

Independent auditor’s report

To the members of

1st Place Children and Parents’ Centre Ltd.

Other Information

The other information comprises the information included in the trustees’ annual report other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements 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 doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this 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 nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

The information given in the trustees’ annual report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The trustees’ annual report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Adequate accounting 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 returns; or
Certain disclosures of trustees’ remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit; or
The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ annual report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of

Independent auditor’s report

To the members of

1st Place Children and Parents’ Centre Ltd.

company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, 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 going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial 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 opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) 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 financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

We enquired of management which included obtaining and reviewing supporting documentation, concerning the charity’s policies and procedures relating to:
Identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected, or alleged fraud;
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
We inspected the minutes of meetings of those charged with governance.
We obtained an understanding of the legal and regulatory framework that the charity operates in, focusing on those laws and regulations that had a material effect on the financial statements or that had a fundamental effect on the operations of the charity from our professional and sector experience.

Independent auditor’s report

To the members of

1st Place Children and Parents’ Centre Ltd.

We communicated applicable laws and regulations throughout the audit team and remained alert to any indications of non-compliance throughout the audit.
We reviewed any reports made to regulators.
We reviewed the financial statement disclosures and tested these to supporting documentation to assess compliance with applicable laws and regulations.
We performed analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud.
In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities 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 Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s 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.

Noelia Serrano (Senior statutory auditor)

20 October 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

1st Place Children and Parents' Centre Ltd.

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

General Note £ Income from: 21,101 2a 5,514 2a 934,799 2a 872,440 2a 613,968 362 3 359 2,448,543 4 15,868 4 - 4 841,480 4 838,629 4 652,698 2,348,675 99,868 (25,242) 74,626 Reconciliation of funds: 912,251 986,877 Total funds carried forward Transfers between funds Net movement in funds Total funds brought forward Net income for the year Total expenditure Charitable activities Cambridge House Nursery Lorrimore Nursery Children's Centre Services Chumleigh Nursery Donations and legacies Charitable activities Children's Centre Services Chumleigh Nursery Raising funds Lorrimore Nursery Cambridge House Nursery Investments Other Total income Expenditure on:	Designated £ - - - - - - -	Restricted £ 28,190 455,812 11,026 3,024 5,109 - -	General £ 3,717 1,404 675,081 671,310 376,210 206 412,035	Designated £ - - 18,663 17,430 22,098 - -	Restricted £ - 454,049 6,366 682 1,072 - -	2021 Total £ 3,717 455,453 700,110 689,422 399,380 206 412,035
2,448,543	-	503,161	2,139,963	58,191	462,169	2,660,323
15,868 - 841,480 838,629 652,698	- - - - -	- 441,125 13,165 9,651 19,710	10,757 - 731,031 766,270 565,312	- - 10,079 2,904 2,227	- 432,076 3,001 3,564 13,540	10,757 432,076 744,111 772,738 581,079
2,348,675	-	483,651	2,073,370	15,210	452,181	2,540,761
99,868 (25,242)	- 29,996	19,510 (4,754)	66,593 203,898	42,981 (203,898)	9,988 -	119,562 -
74,626 912,251	29,996 26,071	14,756 177,129	270,491 641,760	(160,917) 186,988	9,988 167,141	119,562 995,889
986,877	56,067	191,885	912,251	26,071	177,129	1,115,451

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 14 to the financial statements.

1st Place Children and Parents' Centre Ltd.

Balance sheet

Balance sheet
As at 31 March 2022			Company no. 05424738
Note Fixed assets: 10 Current assets: 11 Liabilities: 12 13 14 Total unrestricted funds Restricted income funds Unrestricted income funds: Designated funds Creditors: amounts falling due within one year The funds of the charity: General funds Total charity funds Net current assets Total net assets Cash at bank and in hand Tangible assets Debtors	£ 53,233 1,462,085	2022 £ 57,495	£ 270,251 1,133,111	2021 £ 39,203
		57,495 1,177,334		39,203 1,076,248
	1,515,318 337,984		1,403,362 327,114
	56,067 986,877		26,071 912,251
		1,234,829		1,115,451
		191,885 1,042,944		177,129 938,322

		1,234,829		1,115,451

Approved by the trustees on 5 September 2022 and signed on their behalf by

Karen Walker Chair

1st Place Children and Parents' Centre Ltd.

Statement of cash flows

For the year ended 31 March 2022

Note £ 15 362 (40,424) Cash flows from operating activities Net cash used in investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments Purchase of fixed assets Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year	Note £ 15 362 (40,424) Cash flows from operating activities Net cash used in investing activities Net cash provided by / (used in) operating activities Cash flows from investing activities: Dividends, interest and rents from investments Purchase of fixed assets Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year Change in cash and cash equivalents in the year	£ 369,036 (40,062) 2022	£ £ (53,136) 206 (23,898) (23,692) (76,828) 1,209,939 1,133,111 2021	£ £ (53,136) 206 (23,898) (23,692) (76,828) 1,209,939 1,133,111 2021

		328,974 1,133,111		(76,828) 1,209,939
		1,462,085		1,133,111

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies
a) Statutory information

1st Place Children and Parents' Centre Ltd is a charitable company limited by guarantee and is incorporated in the United Kingdom. The registered office address is 12 Chumleigh Street, London, SE5 0RN.

b) Basis of preparation

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 102) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

The trustees have specifcially considered the impact of covid-19 on the charitable company's ability to continue as a going concern and does not consider this to be a source of material uncertainty.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

f) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

g) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

h) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising
Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

	Cost of raising funds	2.0%
	Children's Centre Services	14.0%
	Chumleigh Nursery	27.0%
	Cambridge House Nursery	33.0%
	Lorrimore Nursery	24.0%

Governance costs are re-allocated to each of the activities on the following basis which is an estimate, based on staff time, of the amount attributable to each activity

	Cost of raising funds	5%
	Children's Centre Services	10%
	Chumleigh Nursery	28%
	Cambridge House Nursery	28%
	Lorrimore Nursery	29%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

The Support costs allocation to cost of raising funds represents an apportionment of our Marketing Manager's salary & marketing spend related to that function. We intend to employ a Fundraiser and will therefore have directly attributable costs in the future

j) Operating leases

Rental charges are charged on a straight line basis over the term of the lease.

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £1,000. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

	Office equipment	25% straight line
	Fixtures & Fittings	25% straight line
	Computer equipment	33% straight line
	Computer software	33% straight line

l) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

m) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

n) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

p) Pensions

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charitable company to the fund. The charitable company has no liability under the scheme other than for the payment of those contributions.

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

2a Income from charitable activities

Early Years Pupil Premium (EYPP) Grant Sub-total for Cambridge House Nursery LB of Southwark - free education entitlement LB Southwark: Special Education Needs (SEN) Alexandra Rose Charity Grant Creche Fees LB of Southwark: Children's Centre LB Southwark: Deprevation fund EYPP Grant LB Southwark: Deprevation fund Sub-total for Children's Centre Services LB of Southwark - free education entitlement Nursery Fees Sub-total for Chumleigh Nursery LB of Southwark - free education entitlement LB Southwark: Special Education Needs (SEN) Nursery Fees LB Southwark: Special Education Needs (SEN) LB Southwark: Deprevation fund Nursery Fees EYPP Grant Sub-total for Lorrimore Nursery Total income from charitable activities	Unrestricted £ - - 5,514 5,514 150,207 758,895 - 25,697 - 934,799 91,646 765,838 - 14,956 - 872,440 186,410 398,032 - 29,526 - 613,968 2,426,721	£ 421,717 34,095 - 455,812 - - 10,120 - 906 11,026 - - 2,420 - 604 3,024 - - 3,432 - 1,677 5,109 474,971 Restricted	2022 Total £ 421,717 34,095 5,514 461,326 150,207 758,895 10,120 25,697 906 945,825 91,646 765,838 2,420 14,956 604 875,464 186,410 398,032 3,432 29,526 1,677 619,077 2,901,692	2021 Total £ 420,464 33,585 1,404
				455,453 152,440 522,641 6,072 18,663 294
				700,110 133,939 537,371 396 17,430 286
				689,422 190,633 185,577 396 22,098 676
				399,380
				2,244,365

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

2b Income from charitable activities (prior year)

Total income from charitable activities Nursery Fees LB Southwark: Special Education Needs (SEN) LB Southwark: Deprevation fund EYPP Grant Sub-total for Lorrimore Nursery Nursery Fees LB Southwark: Special Education Needs (SEN) LB Southwark: Deprevation fund Income from other sources CJRS grant Other income Sub-total for Cambridge House Nursery Sub-total for Chumleigh Nursery LB of Southwark - free education entitlement Alexandra Rose Charity Grant Early Years Pupil Premium (EYPP) Grant EYPP Grant LB of Southwark - free education entitlement Business Interruption Insurance claim LB of Southwark: Children's Centre Creche Fees Sub-total for Children's Centre Services LB of Southwark - free education entitlement Nursery Fees LB Southwark: Special Education Needs (SEN) LB Southwark: Deprevation fund	Unrestricted £ - - 1,404 1,404 152,440 522,641 - 18,663 - 693,744 133,939 537,371 - 17,430 - 688,740 190,633 185,577 - 22,098 - 398,308 1,782,196	£ 420,464 33,585 - 454,049 - - 6,072 - 294 6,366 - - 396 - 286 682 - - 396 - 676 1,072 462,169 Restricted	2021 Total £ 420,464 33,585 1,404 455,453 152,440 522,641 6,072 18,663 294 700,110 133,939 537,371 396 17,430 286 689,422 190,633 185,577 396 22,098 676 399,380 2,244,365 2022 Total £ - - 119 119	2020 Total £ 420,463 14,120 11,940
				446,523 211,029 608,154 3,010 18,026 827
				841,046 166,885 628,901 396 16,405 -
				812,587 189,619 342,459 19,165 20,124 716
				572,083
				2,672,239
				2021 Total £ 165,717 245,568 750
				412,035

3 Income from other sources

All income from other sources is unrestricted in 2022 and 2021.

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

4a Analysis of expenditure (current year)

Cost of raising funds £ - - - - - - - 5,000 - - -		Charitable activities	Charitable activities		Governance costs £ - - - - - - 1,599 10,710 - - -	Support costs £ 304,786 32,754 6,863 19,087 21,019 42,572 53,756 15,498 6,576 4,015 5,750	2022 Total £ 2,141,636 107,181 102,807 183,910 25,490 108,797 85,501 42,345 6,576 22,132 5,951	2021 Total £ 2,020,615 45,824 70,419 131,701 24,225 83,025 88,646 32,826 6,377 16,547 20,556
	Children's Centre Services £ 332,277 2,786 6,627 14,732 1,131 2,776 5,225 440 - 2,125 -	Chumleigh Nursery £ 555,550 17,245 37,045 45,068 1,156 37,231 5,956 1,590 - 11,734 201	Cambridge House Nursery £ 528,816 32,311 33,027 64,126 792 5,226 6,774 1,590 - 2,988 -	Lorrimore Nursery £ 420,207 22,085 19,245 40,897 1,392 20,992 12,191 7,517 - 1,270 -
5,000 10,253 615	368,119 71,775 1,231	712,776 138,423 3,446	675,650 169,183 3,447	545,796 123,042 3,570	12,309 - (12,309)	512,676 (512,676) -	2,832,326 - -	2,540,761 - -
15,868	441,125	854,645	848,280	672,408	-	-	2,832,326	2,540,761
10,757	432,076	744,111	772,738	581,079	-	-

Of the total expenditure, £2,348,675 was unrestricted (2021: £2,088,580 ) and £483,651 was restricted (2021: £452,181).

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

4b Analysis of expenditure (prior year)

Cost of raising funds £ - - - - - - - - - - -		Charitable activities	Charitable activities		Governance costs £ - - - - - - 843 10,200 - - -	Support costs 2021 Total £ £ 325,863 2,020,615 17,538 45,824 3,643 70,419 13,772 131,701 20,577 24,225 46,480 83,025 44,596 88,646 11,924 32,826 3,638 6,377 2,024 16,547 20,177 20,556
	Children's Centre Services £ 324,040 770 14,200 2,420 1,223 (697) 10,162 5,910 - 1,511 -	Chumleigh Nursery £ 523,727 12,574 22,959 10,302 1,006 10,946 10,026 1,612 480 9,404 220	Cambridge House Nursery £ 483,169 11,197 19,467 65,166 649 7,718 10,834 1,590 480 840 159	Lorrimore Nursery £ 363,816 3,745 10,150 40,041 770 18,578 12,185 1,590 1,779 2,768 -
- 10,204 553	359,539 71,432 1,105	603,256 137,763 3,092	601,269 168,377 3,092	455,422 122,456 3,201	11,043 - (11,043)	510,232 2,540,761 (510,232) - - -
10,757	432,076	744,111	772,738	581,079	-	- 2,540,761

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

5 Net income for the year

This is stated after charging:

This is stated after charging:
	2022	2021
	£	£
Depreciation	22,132	16,547
Operating lease rentals:
Property	123,225	121,346
Other	25,491	24,225
Auditor's remuneration (excluding VAT):
Audit	8,925	8,500
Other services	1,950	1,850

6 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Staff costs were as follows:
Employer’s contribution to defined contribution pension schemes Salaries and wages Social security costs	2022 £ 1,935,226 137,521 68,889	2021 £ 1,829,307 129,277 62,031
	2,141,636	2,020,615

One employee earned more than £60,000 during the year (2021: nil).

The total employee benefits including pension contributions of the key management personnel were £476,866 (2021: £473,340).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £nil). There were no trustee expenses representing the payment or reimbursement of travel and subsistence costs (2021: £nil).

Pay ratio: The remuneration ratio for 1st Place is considered alongside external market conditions for the specific roles. The ratio of our highest salary (£61,027.20) to our lowest salary (£17,035.20) was 3:6 in 2021-22.

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

follows:
Cambridge House Nursery Children's Centre Services Chumleigh Nursery Lorrimore Nursery Support Governance Raising funds	2022 No. - 18.6 32.8 39.8 30.3 15.5 -	2021 No. - 12.0 37.2 37.2 29.0 15.8 -
	137.0	131.2

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

8 Related party transactions

There are no related party transactions to disclose for 2022 (2021: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

10 Tangible fixed assets

Tangible fixed assets
Cost or valuation At the end of the year At the end of the year Depreciation At the start of the year At the end of the year Additions in year Charge for the year Net book value At the start of the year At the start of the year	Office Equipment £ 15,025 -	Computer Equipment £ 44,924 33,354	Fixtures and Fittings £ 184,750 7,070	Computer Software £ 10,393 -	Total £ 255,092 40,424
	15,025	78,278	191,820	10,393	295,516
	12,074 1,971	40,643 8,367	152,779 11,794	10,393 -	215,889 22,132
	14,045	49,010	164,573	10,393	238,021
	980	29,268	27,247	-	57,495
	2,951	4,281	31,971	-	39,203

All of the above assets are used for charitable purposes.

11 Debtors

Debtors
Trade debtors Accrued income Prepayments	2022 £ 26,704 - 26,529	2021 £ 376 245,568 24,307
	53,233	270,251

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals and deferred income Trade creditors Taxation and social security Other creditors	2022 £ 49,964 29,277 161,890 96,853	2021 £ 10,004 31,478 180,883 104,749
	337,984	327,114

13a Analysis of net assets between funds (current year)

Net assets at 31 March 2022 Net current assets Tangible fixed assets	General unrestricted £ 48,999 937,878	£ - 56,067 Designated	Restricted £ 8,496 183,389	Total funds £ 57,495 1,177,334
	986,877	56,067	191,885	1,234,829

13b Analysis of net assets between funds (prior year)

Tangible fixed assets Net current assets Net assets at 31 March 2021	General unrestricted £ 37,846 874,405	£ - 26,071 Designated	Restricted £ 1,357 175,772	Total funds £ 39,203 1,076,248
	912,251	26,071	177,129	1,115,451

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

14a Movements in funds (current year)

14a Movements in funds (current year)
Total restricted funds Total designated funds General funds 14b Total restricted funds Total designated funds General funds Unrestricted funds: Lorrimore Fund EYPP Unrestricted funds: Designated funds: Nursery Support Fund Restricted funds: EYPP Early Years Deprivation Supplement Restricted funds: Alexandra Rose Charity Grant Alexandra Rose Charity Grant Special Education Needs Designated funds: Family Support Fund Family Support: Children's Centre Erasmus EU funding Total funds Total funds Total unrestricted funds Total unrestricted funds Repairs and maintenance Fixed Asset Fund Movements in funds (prior year) Erasmus EU funding Special Education Needs Family Support: Children's Centre Family Support Fund Nursery Support Fund	At 1 April 2021 £ 25,477 125,842 4,790 12,961 8,059	Income and gains £ 15,972 421,717 3,187 34,095 28,190	Expenditure and losses £ (38,026) (411,410) - (29,715) (4,500)	Transfers £ - - - - (4,754)	At 31 March 2022 £ 3,423 136,149 7,977 17,341 26,995
	177,129	503,161	(483,651)	(4,754)	191,885
	1,000 25,071	- -	- -	- 29,996	1,000 55,067
	26,071 912,251	- 2,448,543	- (2,348,675)	29,996 (25,242)	56,067 986,877
	938,322	2,448,543	(2,348,675)	4,754	1,042,944
	1,115,451	2,951,704	(2,832,327)	-	1,234,829
	At 31 March 2020 £ 43,098 110,809 389 3,534 6,021 3,290	Income and gains £ 6,864 420,464 - 1,256 33,585 -	Expenditure and losses £ (24,485) (405,431) (389) - (26,645) 4,769	Transfers £ - - - - -	At 31 March 2021 £ 25,477 125,842 - 4,790 12,961 8,059
	167,141	462,169	(452,181)	-	177,129
	112,044 46,000 28,944 - -	58,191 - - - -	(2,347) - (12,863) - -	(167,888) (46,000) (16,081) 1,000 25,071	- - - 1,000 25,071
	186,988 641,760	58,191 2,139,963	(15,210) (2,073,370)	(203,898) 203,898	26,071 912,251
	828,748	2,198,154	(2,088,580)	-	938,322
	995,889	2,660,323	(2,540,761)	-	1,115,451

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

14 Movements in funds (continued)

Purposes of restricted funds

Special Educational Needs

These funds are used to provide additional support for children in the Nursery with special education needs.

Family Support

The Family Support fund represents funds from the London Borough of Southwark to help run Family Support and Training services at 1st Place Children and Parents' Centre.

Lorrimore fund

These funds were used to provide initial support for the new Nursery at Lorrimore Square which opened in November 2015. The balance represents the net book value of the capitalised improvements works.

EYPP

These are funds received for the Early Years Pupil Premium (EYPP) to support disadvantaged children in the Nursery. During the year, the conditions attached to these funds were updated by Southwark Council, requiring the funds to be recognised as restricted.

Alexandra Rose Grant

For distribution of Alexandra Rose Charity Fruit & Veg vouchers during the next year to local families in need.

Erasmus EU Funding

These funds are for educational visits to participating EU countries to aid development of future leaders and leadership skills among existing staff. Due to covid-19, the trips in 2020 were cancelled and so expenditure relating to these has been written back to the fund but the remaining funding will be used for future planned visits.

Purposes of designated funds

The Early Years Deprivation Supplement is given to nurseries to help young learners from disadvantaged areas receive the best start to their education. The Trustee Board have decided to designate this funding for education activities or similar that are not mandatory OFSTED requirements.

The repairs and maintenance fund has been approved by the Trustee Board for the purpose of essential maintenance works required at Chumleigh Gardens, and at Lorrimore Square following the feedback from prospective parents. Within this fund is also designated costs for an essential infrastructure upgrade to the IT systems, and expected recruitment costs for the following year.

The Fixed asset fund represents the Charity's holding of fixed assets. Fixed assets are considered to be not easily realisable and, in accordance with the SORP, should not be represented by free general funds. The fund balance carried forward is equal to the net book value of the fixed assets which have been purchased by unrestricted funds.

The Family Support Fund is there to support families who encounter short term crises and do not have the available funds to address a short term need for example support to move home when being re-housed at short notice, or a family with no recourse to public funds whose main source of income is lost due to short term illness or hospitalisation.

The Nursery Support Fund has been created to support nursery families whose circumstances have changed, creating short-term financial pressure affecting their ability to maintain their child’s attendance at a 1st Place nursery, or that family income in the short term will not cover the amount of hours their child needs to attend in order for parents/carers to work or study.

1st Place Children and Parents' Centre Ltd.

Notes to the financial statements

For the year ended 31 March 2022

15 Reconciliation of net income to net cash flow from operating activities

Net income for the reporting period (as per the statement of financial activities) Depreciation charges Dividends, interest and rent from investments Decrease/(increase) in debtors Increase in creditors Net cash provided by operating activities	2022 £ 119,378 22,132 (362) 217,018 10,870	2021 £ 119,562 16,547 (206) (264,043) 75,004
	369,036	(53,136)

16 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

of the following periods
Over five years Less than one year One to five years	2022 2021 £ £ 26,000 39,533 64,000 96,800 58,667 88,733 Property		2022 2021 £ £ - 25,412 - - - - Equipment
	148,667	225,067	-	25,412

17 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

1st Place Children and Parents’ Centre Ltd.

Contents

Chair of the Trustees’ report

Chair of the Trustees’ Report

Chair of the Trustees’ report

Trustees’ annual report

Objectives and activities

How we work to achieve these objectives

Trustees’ annual report

Our Aims

Our partners during 2021-2022

Trustees’ annual report

Achievements and Performance

1[st] Place at the Heart of the Community

Early Education

Trustees’ annual report

Trustees’ annual report

For the year ended 31 March 2022

Supporting our Families through Children and Family Centre Services

Trustees’ annual report

Partnerships

Trustees’ annual report

Communication & Marketing

High Performing Teams

Trustees’ annual report

Serious Incident Reporting

Safeguarding Duties

Trustees’ annual report

Financial Sustainability

Trustees’ annual report

Principal funding

Investment policy and performance

Financial review

Trustees’ annual report

Reserves Policy

Fundraising

Plans for the future

Trustees’ annual report

Structure, governance and management

Remuneration Policy

Performance Management

Trustees’ annual report

For the year ended 31 March 2022

We have a performance management and appraisal policy that:

Risk Assessment

Trustees’ annual report

Statement of responsibilities of the trustees

Statement of disclosure of information to auditors

Preparation of this report

Auditor

1st Place Children and Parents’ Centre Ltd.

Opinion

Basis for opinion

Conclusions relating to going concern

1st Place Children and Parents’ Centre Ltd.

Other Information

Opinions on other matters prescribed by the Companies Act 2006

Matters on which we are required to report by exception

Responsibilities of trustees

1st Place Children and Parents’ Centre Ltd.

Auditor’s responsibilities for the audit of the financial statements

Capability of the audit in detecting irregularities

To the members of

1st Place Children and Parents’ Centre Ltd.

Use of our report

20 October 2022

1st Place Children and Parents' Centre Ltd.

For the year ended 31 March 2022

Balance sheet

Statement of cash flows

For the year ended 31 March 2022

For the year ended 31 March 2022

b) Basis of preparation

f) Interest receivable

g) Fund accounting

For the year ended 31 March 2022

h) Expenditure and irrecoverable VAT

i) Allocation of support costs

j) Operating leases