COMPANY REGISTII4TION NUMBER: 06962081 CHAIUTY REGISTRATION NUMBEIL. 1135723 Side by Side (Children) Limited Company Limited by Guarantee Financial Statements 30 April 2024 COHEN ARNOLD Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONtK)N NWII OPU
Side by Side (Children) Limited Company Limited by Guarantee Financial Statements Year ended 30 April 2024 Page Trustees, annual report (incojporating the director's report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position Statement of cash flows 10 11 12 Notes to the financial statements 13
Side by Side (Children) Limited Company Limited by Guarantee Trustees, Annual Report Oncorporating the Director's Report) Year ended 30 April 2024 Th¢ trustees, who arc also the directors for thc purposes of company law. present their report and the financial statement5 of the charity for the year ended 30 ApTiI 2024. Reference and administrative details Registered charity name Charity registration number Company registration number 06962081 Principal otrice and registered Avigdor Mews office Lordship Road London N16 OQJ Mr J Margulies Mr S S Sinitsky Mrs H Z Weiss Mr C M Margulies Mr J Sorotzkin Side by Side (Children) Limited 1135723 The trustees Audilor Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWII OPU Structure? governance and management The charity is a company limited by guarantee and accordingly does not hav¢ a share capital. The charity is governed by its Memorandum and Articles of Association dated 14 July 2009. The trustees are responsible for overseeing the management of the school. None of the trustees have any beneficial interest in the company. None of the trteeS are entitled to any remuneration for their services. All new trustees undergo an induction programme that includes a briefing on their role and responsibilities as well as general guidance as published by the Charities Commission.
Side by Side (Children) Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (eondnméd) Year ended 30 April 2024 Objectives and activities The objectives of the charity are: a) The advancement of education primarily but not exclusively by establishing maintaining and managing in the London Borough of Hackney a school for children with learning and sFcial needs. b) The advancement of such other objects as are for the benefit of the public and are charitable according to English law. Mission Side by Side's mission is to provide learning disabled children with an outstanding educatiorn in an environment that allows them to achieve their personal best. Actlvltles Side by Side is a special school catering to Jewish children in London. As its name connotes, it was founded to give children with special educational needs the opportunity to learn and play alongside their mainstream peers, in the early years. The Side by Side umbrella incorporates the following: Side by Side Nursery for ages 2-5 years. The nursery encourages all the children to learn and play together. 'side by side, irrespective of their needs. The nursery follows the guidance of the Early Years Foundation Stage curriculum adapted as required to reflect the needs of the children. The nursery classes have high staff: children ratio to ensure we can effectively support the children whether they have an EHCP or not. To ensure that the children have the appropriate support, our therapy tea tn provide advice and support into the nursery classrooms working alongside the teacher and keyworkers. In addition, we maintain links with the community therapists and medical professionals from our local Child Development Centres. Once children have their EHCPS, our in-house therapy team will provide direct intervention and work with staff providing a holistic approach into their development. Following a pause in accepting mainstream children due to the capacity in the old building, from November 2022, we started to welcome back mainstream children into the nursery. Side by Side Special School for 5 - 19 year olds, which encompasses" The school offers two pathways for the pupils. Children with complex and multiple needs are supported in their classes working on the Engagement Framework. This programme delivers a sensory-based model to ¢nable the pupils to successfully access learning at a level that is appropriate for them. They are also offered specialisi programmes as appropriate e.g. attention autism, TacPac, Sensory Stories, Story massage etc. For pupils who are able we will be supported through the delivery of a semi-fomial cU1cUlUTn where they are learning a core curriculum, at a pace that helps them make progress. o Primary classes. focus on core skills (including numeracy and literacy). cross-curricular topic& personal development and growth. Our children have an extremely wide range of capabilities and disabilities and each pupil is helped to a¢hAeve their individual potential. Children in this age group already are supported in the integration in community life through attending mainstream hOOlS for
Side by Side (Children) Limited Company Limited by Guarantee Trustees, Annu941 Report Uncorporating the Director's Report) (tonlinued) Year ended 30 April 2024 SOTne hours of the day. o Secondary classes. whilst continuing to support pupils in their wre skills with a broad and well- balanced curriculum which covers the gamul of subjects including numeracy, literacy. science, arts and current affairs, we also increase the fuS on independent living skills. Pupils have the opportunity to work towards national awards in these areas. for example ASDAN employability and youth awards. This includes supporting the transition to adulthood through supported placements or 'work experience, in community organisations and local businesses. o Our 14 -19 provision is focused on developing independent living skills through functional skills (literacy and numeracy) training, giving young people the skills to be able to engage and interact with the wider community as they move into young adulthood. In the older classes there are increased opportunities for attending off-site work experience opportunities which include, meal-on-wheels, office work, shops and warehouse opportunities. As part of the programme, the young people access local community facilities, continue with work experience opportunities and life skills related l&qrning and accreditation. Across the school, there is a high level of therapeuti¢ intervention which is integrated into each child's programme, across all age groups which includes: Speech and Language Therapy, Occupational Therapy* Physiotherapy and Music Therapy. Physiotherapy is closely integrated into the sport curriculum, which is hugely popular across the school. For secondary classes. after-school activities include additional sport. Obesity can frequently be a problem for children with learning disabilities. Sport helps them develop pleasure in physical activity and improves emotional and physical health. This is culminated with an annual sports day which is enjoyed by all participants and spectators alike. The school and nursery are staffed by a multi4isciplinary team of over 100 dedicated professionals including team leaders, teachers, learning assistants and therapists who work closely with each other and ihe parents to individually help all 105 students achieve the best ouicomes possible.
Side by Side (Children) Limited Company Limited by Guarantee Trnstees, Annual Report Oncorporating the Director's Report) (conlinued) Year ended 30 April 2024 Achievements and perforniance Side by Side h&8 worked with our 100 students and their families to ensure that each individual child can develop and succeed at their own pace and reach their full potential in their educational and social lives. All children made excellent progress against their Pupil Supwrt Plans. For over 20 years, Side by Side has been providing a quality service to the community, with OFSTED (July 2022) consistently grading the school as a 'Good' with many categories as outstanding, h&8 only been possible through the dedication of our Headteacher. the Senior Management and the wonderful staff who work, day-in-day-out to ensure the children have the opportunities they deserve. November 2022 was a momentous moment in the school's history with th¢ move to our new purpose-built school. The impact of the move has made a significant difference to the service and programmes we offer the pupils as well as providing ihe learning environment that provides the facilities as well as help Ihe general behaviour with the space they need and deserve. These facilities will support fulure generations of children who will benefit from Side by Side. At the same time, the team have remained focused on ensuring the school continues to develop the provision. intervention models and services so they can the opportunities to thrive and reach their potential. The growth of the sch¢x)l is looking at a level of over 400/0 for the new academic year Autumn Term 2023. With this unprecedented growth the governing body and the executive leadership team hav¢ been working to ensure that the level of management and staffing is in place that the level of service is maintain for all pupils. We continue to work with our parent body and the wider community to engage them in all aspects of the school. We have introduced a parent governor to the board which has been a valuable additional contribution to the l)oard. Financial review The charity made a loss this year of £574,473. The Trustees are confident that sufficient funds will be made available to ensure the continued smooth running of the school. Reserves policy The trustees aim to hold free reserves of between 3 and 6 months (but no more than 12 months) operating costs in order to protect services and ensure adequate cashflow for the organisation's financial needs. As at 30th April 2024 the organisation held unrestricted funds of £4,318 (2023: unrestricled funds of £578,791). The decrease in reserves is due to additional expenses incurred during the year du¢ to the move into the new building and as the %hool has not yet reached full capacity, the income is lower than what can be expected for future years as the school grows. Plans for future periods We will continue to ensure that the school h&s the finance and resources available to ensure the high-quality educational provision for all the children.
Side by Side (Children) Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 30 April 2024 Trustees, responsibilities Statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trllstees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently, observe the methods and principles in the applicable Charities SORP; make judgments and accounting estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unles5 it is inappropriate to presume that the charity will continue in business. The trteeS are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them lo ensure that the financial statements comply with ihe Companies Act 2006. They are also responsible for safeguarding the &ssets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor Each of the persons who is a tle¢ at the date of approval of this report confimis that: so far as they are aware, there is no relevant audit infomiation of which the charity's auditor is unaware; and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit infonnation and to establish that the charity's auditor is aware of that infonnation. The truste¢s' annual report and the strategic r¢p)rt were approved on 14 November and signed on behalf of the board of trustees by: Mr J Sorolzkin Trustee
Side by Side (Children) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Side by Side (Children) Limited Year ended 30 April 2024 Opinion We have audited the financial statements of Side by Side (Children) Limited (the 'charity') for the year ended 30 April 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of 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 slate of the charity's affairs as at 30 April 2024 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 charity in accordance with the ethical requirements that are relevant to our audit of the financia] 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 perfornied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity'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 trSteeS with respect to going concern are described in the relevant sections of this report.
Side by Side (Children) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Side by Side (Children) Limited {eo*rtnued) Year ended 30 April 2024 Other information The other inforniation comprises the inforniation included in the annual reporL other than the financial statements and our auditor's report thereon. The Irustees are responsible for the other information. Our opinion on the financial statements does not cover the other infonnation and, except to the extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion theTeon. In connection with our audit of the financial statements, our responsibility is to read the other infomiation and, in doing so, consider whether the other inforn]ation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether there is a material misstatement in the financial statements or a material misstatement of the other information. Ef, based on the work we have perfornied, we conclude that there is a material misstatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2(N)6 In our opinion, based on the work undertaken in the course of the audit: the inforniation given in the trustees, report for the financial year for which the fjnancial statements are prepared is consistent with the financial statements. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we Ydre required to report by exception In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, 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 Tetums. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the inforn]ation and explanations we require for our audit.
Side by Side (Children) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Side by Side (Children) Limited (conllnued) Year ended 30 April 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities statemenL the trustees (who are also the directors for the purposes of 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 detemiine is necessary to enable the preparalion 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 charity'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 Irustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Audltor's responsibllltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statemenls as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditor's report thal includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducied in accordance with ISAS (UK) will always detect a material misstalement 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. IegUlarities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, oullined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We obtained an understanding of the legal and regulatory frameworks that are applicable to the charity through discussion with the trustees and identified financial reporting legislalion and charity legislation as being most significant to these financial statements. We communicated these identified frameworks amongst our audit team and remained alert to any indications of non-compliance throughout the audit. We ensured that the engagement team had sufficient competence and capability to identify or recognise non-compliance with the laws and regulations. We discussed with ihe trustees the policies and procedures regarding compliance with these legal and regulatory frdmeworks. We assessed the susreptibility of the charity's financial statcments to material misstatement due to non-compliance with legal and regulatory frameworks. including how fraud might occur. by enquiry with the trustees during the planning and finalisation phases stages of our audit. The susceptibility to such material misslatement was determined to be low. Based on this understanding. we designed our audit procedures to identify non-compliance with the identified legal and regulatory frameworks, which were part of our procedures on the related financial statement iteTns.
Side by Side (Children) Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Side by Side (Children) Limited Year ended 30 April 2024 As part of an audit in accordance with ISA5 (UK). we exercise professional judgmenl and maintain professional scepticism throughout the audit. We also: Identlfy and assess the risks of material misslatement of the financial statements, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, &s fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of ihe internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the truslees, use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue &s a going oncern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify OUT opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We ¢ommuni¢ate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal Control that we identify during our audit. Use of our report This report is made solely to the charity'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 rnight state to the charity's memkrs those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent pern]itted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we liave f Cohen Arnold Chartered accountants & statutory auditor New Burlington House 1075 Finchley Road LONDON NWI I OPU 14 November 2024
Side by Side (Children) Limited Company Limited by Guarantee Statement of FinaDcig1 Activities (including income and expenditure account) Year ended 30 April 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income 532,109 2,674,080 674 649,320 1,181,429 722,110 2,674,080 2,287,171 674 415 Total Income 3,206,863 649,320 3,856,183 3,009,696 Expendlture Expenditure on raising fvnds: Costs of raising donations and legacies Expenditure on charitable activities Total expenditure 77,495 9,10 3,703,841 3,781,336 77,495 4,353,161 4,430,656 44,498 3,182,701 3.227,199 649.320 649.320 Net expenditure and net movement in funds (574,473) (574,473) (217,503) Reconciliation of funds Total funds brought forward Total funds carried forward 578,791 4,318 578.791 796,294 4,318 578,791 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The ts0t on Pag 13 tt) 22 form part octhese fill4n¢i*l statements. io
Side by Side {ChildreD) Limited Company Limited by Guarantee Statement of Financial Position 30 April 2024 2024 2023 Note Fixed assets Tangible fixed assets Current Assets Debtors Cash at bank and in hand 16 24,216 28,489 17 1,119,546 778,277 1,897,823 18 1,901,488 (3,665) 20,551 1,715,231 47,139 1.762,370 1,187,235 575,135 603,624 24,833 578,791 Creditors: amounts falling due within one year Net current liabllltles Total assets less current liabllltles Creditors: amounts falling due after more than one year Net assets 19 16,233 4,318 Funds of the charity Unrestricted ndS 4,318 4,318 578,791 Total charity funds 21 578,791 These financial statements were approved by the board of trustees and authorised for issue on 14 November 2024, and are Signed on behalf of the board by: Mr J Sorotskin Trustee The notes on pages 13 to 22 form part of thue financial st&tements. li
Side by Side (Children) Limited Company Limited by Guarantee Statement of Cash Flows Year ended 30 April 2024 2024 2023 Cash floivs from operating activities Net expenditure Adjustmentsfor.. Depreciation of tangible fixed assets Other interest receivable and similar income Interest payable and stmilar charges Accrued (income)/¢xpenses Changes in.. Trade and other debtors Trade and other creditors (574.473) (217,503) 4,273 (674) 783 (7,802) 20,987 (415) 1,032 41,514 595,685 723.455 (52,342) 210,043 3.316 Cash generaled from operations Interest paid Interest received 741,247 (783) 674 (1.032) 415 Net cash from operating activities 741,138 2,699 Cash flows from financing actlvltles Proceeds from borrowings Net cash used in financing activities ( i 0,000) ( i 0,000) ( i o,(w)) (i 0.000) Net increasel(decreAse) in cash and cash equivalents Cash and Cash equivalents at beginning of yeydr Cash and cash equivalents at end of year 731,138 47,139 778,277 (7,301) 54,440 47,139 Tb¢ notes on pages 13 to 22 forni part of these fiTr*neial statements. 12
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 April 2024 General information The charity is a public benefit entity and a private company limited by guarantee, regisfrred in England and Wales and a registered charity in England and Wales. The address of the registered office is l O Craven Walk, London, N16 6BT. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republi¢ of Ireland,, the Statement of Recommended Practice applicable to charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th¢ Companies Act 2006. Accountlng policies Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expendiluTe. The financial statements are prepared in sterling. which 15 the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. The loss this year is due to an adjustment in the invoicing period resulting in there being less than twelve months fees. The next financial year will include full twelve months of fees. Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the Trustees are required lo make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period. or in the period of the revision and fulure periods if the revision affects both current and futur¢ periods. The Trustees do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below. Fund accounting Unrestricted funds are available for we at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tems of an appeal, and fall into one of two sub-classes: restricted incotne funds or endowment funds. 13
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements {coftllnued) Year ended 30 April 2024 Accounting policies (cdnlinued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement h&8 passed to the charity. it is probable that the economic benefits &8sociated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to th¢ gift, receipt is probable and its amount can be measured reliably. legacy income is recogmised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to rneasure reliably, in which case the value is derived frorn the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value ran be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracled service. This is classified as unrestricted funds unless there is a cOntracal requirement for it to be spent on a particular purpose and returncd if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accnols b&8is as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slatement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities. events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activitie5. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a Single activity are allocated directly to that activity. shed cost5 are apportioned between the activities they contribut¢ to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. 14
Side by Side (Children) Limited Company Limited by Guarantee Notss to the Financial Statements (conlinuedj Year ended 30 April 2024 Accounting policies (COAIIAued) Tangible assets (eomtlxued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairn]ent that has previously been recognised as expenditure within the statemenl of financial activities. A decrease in the carrying amount of an &sset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statemenl of financial activities. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of thal &sset as follows: Freehold property 20 % straight line Fixtures and fittings 15% reducing balance Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recov¢rable amount being estimated where such indicators exisl. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairn]ents are also reviewed for possible reversal at each reporting date. For the purposes of impainnent testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generdling units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. FiDancig1 Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Cuent assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otheTwise be measured reliably. the investment IS 5ubsequ¢ntly measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairnient. 15
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (coiitinued) Year ended 30 April 2024 Accounting policies fconilnued) Financial instruments (¢onllNMtd) Other financial instruments, including derivatives, are initially recognised at fair value. unless payment for an &8set is deferred beyond norn)al business temis or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently m&2sured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairnient at the end of each reporting date. If there is objective evidence of impairnient, an impairnient loss is recognised under the appropriate heading in the staternent of financial activities in which the initial gain was recognised. For all 4Uity instruments regardless of significance, and other financial &ssets that are individually significant, these are assessed individually for impairnient. Other financial &ssets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of irnpairnienl are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceed5 what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are reCOlSed &8 an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis, The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Side by Side (Children) Limited is a registered charity and a company limited by guarantee. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donations General Donations 421,876 535,000 956,876 Grants Grants receivable 110,233 114,320 224,553 532,I09 649,320 1.181,429 16
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (coNlinHedJ Year ended 30 April 2024 Donations and legacies (eonrfnM¢d) u¢strIcted Restricted Total Funds Funds Funds 2023 Donations General Donations 614,818 614,818 Grants Grants receivable 53,250 54,042 107,292 668,068 54,042 722.110 Charitable activities Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Government income User fees 2,504,990 169.090 2,504,990 169,090 2,184,771 102,400 2.184,771 102,400 2,674,080 2,674,080 2,287,171 2,287,171 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 674 674 415 415 Costs of raising donations and legficles Unrestricted Tot21 Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Events 77,495 77,495 44,498 44,498 17
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (ctsnlinued) Year ended 30 April 2024 Expenditure on charitable activities by fund type Unrestricted Funils Restricted Total Funds Funds 2024 Side by Side School Support costs 3,696,041 7,800 649,320 4,345,361 7,800 3,703,841 649,320 4,353,161 Unrestricted Funds Restricted Total Funds Funds 2023 Side by Side School Support costs 3,114.659 6,000 3,120,659 62,042 3,176,701 6,000 62,042 3,182,701 10. Expenditure on charitable activities by activlty type Activities undertaken Grant funding directly of activities Support costs Total funds 2024 Total fund 2023 Side by Side Sch{1 Governance costs 3,810,361 535,000 4,345,361 7,800 4,353,161 3,176,701 6,0 7,800 3,810,361 535,000 7,800 3,182,701 11. Analysis of grants 2024 2023 Grants to instilutions Grants to institutions 535,000 535,000 Total grants 12. Net expenditure Net expenditure is stated after charging/(crediting): 2024 2023 Depreciation of tangible fixed assets 4,273 20,987 13. Auditors remuneration 2024 2023 Fees payable for the audit of the financial statements 7,500 7,500 18
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (conlinmed) Year ended 30 April 2024 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries Social security Costs Employer contributions to pension plans 2,333,489 128,955 26,803 2,489.247 2,072,153 117,534 26,462 2,216,149 The average head count of employees during the year was 168 (2023: 165). The number of employees whose remuneration for the year fell within the following bands, were: 2024 2023 No. No. £1 00.000 to £109,999 Key Management Personnel Key management personnel include all peOn5 that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £1 15,383 (2023:£108,812). IX Trustee remuneration and expenses There was no remuneration paid to the trustees. The charity did not meet any individual expenses incurred by the trustees for services provided to the charity. 16. Tangible fixed assets Freehold Fixtures and property fittings Total Cost At l May 2023 and 30 April 2024 Depreciatfion At l May 2023 Charge for the year At 30 April 2024 Carrying amount At 30 April 2024 At 30 April 2023 169,735 76,958 246,693 169,735 48,469 4,273 52,742 218,204 4,273 222,477 169,735 24.216 24,216 28,489 28,489 19
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (conlimued) Year ended 30 April 2024 17. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 31,123 34,106 1,054,317 1,119,546 493,951 16,963 1,204,317 1,715.231 l& Creditors: amounts falling due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and defeed income Social security and other taxes Pension Other Creditors 9,600 202,166 429,432 384,164 4,626 871,500 1,901,488 i 1,000 230,793 437,234 102,543 19,475 386,190 1,187,235 19. Creditors: amounts falling due after more than one year 2024 2023 Bank loans and overdrafis 16,233 24,833 20. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £26,803 (2023: £26,462). 20
Side by Side (Children) Limited Company Limited by Guarantee Notes to the Financial Statements (condhued) Year ended 30 April 2024 21. Analysis of charitable funds Unrestricted funds At l May 2023 At 30 April 2024 Income Expenditure General funds 578,791 3,206,863 (3,781,336) 4,318 At l May 2022 At Income Expenditure 30 April 2023 General funds 788.294 2,955,654 (3,165.157) 578,791 Restrlcted funds At l May 2023 At 30 April 2024 Income Expenditure Restricted Fund 649,320 (649,320) At l May 2022 At Encome Expenditure 30 April 2023 Restricted Fund 8,000 54,042 (62,042) 21
Side by Side {Children) Limited Company Limited by Guarantee Notes to the Financial Statsments Itonllftued) Year ended 30 April 2024 22. Analysis of net &8sets between funds Unrestricted Tolal Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Creditors greater than l year Net assets 24.216 24,216 1,897,823 1,897.823 (1,901,488) (1,901,488) (16.233) (16,233) 4,318 4,318 Unrestricted Total Funds Funds 2023 Tangibl¢ fixed assets Current assets Creditors less than l year Creditors greater than l year Net assets 28,489 28,489 1,762,370 1,762,370 (1,187,235) (1,187,235) (24,833) (24,833) 578,791 578,791 23. Analysis of changes in net debt At At l May 2023 Cash flows 30 Apr 2024 Cash at bank and in hand Debt due within one year Debt due after one year 47,139 (I 1,000) (24,833) 11.306 731,138 1,400 8,600 778,277 (9,600) (16,233) 752,444 741,138 24. Relvdted parties Other debtors of £1,054,317 relates to a loan given to Side by Side School Ltd, a charity with common trustees. This loan wa5 given in order to assist Side by Side Sch1 Ltd with the purchase of the land and building of the new school. Donations totalling £535,0 were paid during the year to Side by Side School Ltd. 22