OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Company registration number (England and Wales): 07758246 Charity registration number (England and Wales): 1149185

PLAY ADVENTURES & COMMUNITY ENRICHMENT

(Incorporated as a Company Limited by Guarantee and not having a Share Capital)

FINANCIAL STATEMENTS AND ANNUAL REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

CONTENTS

Page
Reference and Administrative Details of the
Charity, its Trustees and Advisers 1
Trustees’ Report 2 - 11
Independent Auditors’ Report 12 - 14
Statement of Financial Activities 15
Balance Sheet 16
Statement of Cashflows 17
Notes to the Financial Statements 18 - 26

PLAY ADVENTURES & COMMUNITY ENRICHMENT

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS

Company number 07758246 (England and Wales)
Charity number 1149185 (England and Wales)
Board of Trustees / Directors* L Ho-Everiste (Chair)
C Gale (Vice-Chair) (resigned 28thApril 2022)
C Dishington (Treasurer)
T Bolton (resigned 8thJune 2021)
K Kadri
J Mann
N Gajree
G Smith (appointed 12thJanuary 2022)
S Hug-Williams (appointed 12thJanuary 2022)
Key management personnel Henry Purkis (Chief Operating Officer) (resigned 20thMay
2022)
Independent auditor Knox Cropper LLP
65 Leadenhall Street
LONDON
EC3A 2AD
Bankers Unity Trust Bank
9 Brindleyplace
BIRMINGHAM
B1 2HB
Shawbrook Bank
Lutea House, Warley Hill Business Park
The Drive, Great Warley
ESSEX
CM13 3BE
Cambridge & Counties Bank
Charnwood Court
New Walk
LEICESTER
LE1 6TE
Registered address Fairfield Play Centre
Mary Terrace
LONDON
NW1 7LR
Website www.paceforall.com

* The Trustees, who are also Directors under company law, who served during the year and up to the date of this report were as follows:

1

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees (who are also the directors of the charitable company for the purposes of the Companies Act) present their combined directors’ report and trustees’ report, as required by company law, together with the audited financial statements of Play, Adventures and Community Enrichment (the charity) for the year ended 31 December 2021. The Trustees confirm that the trustees’ report and financial statements comply with the current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 second edition) (effective 1 January 2019).

Structure, governance and management

The Charity was incorporated as a company limited by guarantee on 31 August 2011 as amended by special resolution registered at Companies House on 18 May 2012 and as amended by certificate of incorporation on change of name dated 11 July 2012. The Trustees are responsible for the overall control of the charity though they delegate day to day running to members of management staff.

Board meetings are held every two months, and Board members also correspond with each other electronically and by telephone between Board meetings. Trustee subcommittees are in place to make recommendations to the Board on specific matters. The following subcommittees (each with at least two Board representatives) have been established to cover specific areas of charity governance and oversight:

The Trustees carry out regular reviews of their skills base to ensure a good balance of skills and experience. Any gaps identified are addressed by inviting other members of the charity to stand for election, or by co-option. Trustees can receive formal or informal training as required. All Trustees also receive regular updates on relevant policy and legislation.

Our Purpose and Activities

Our vision is a world where all children and young people have a healthy, happy childhood and a resilient, supportive family. Our mission is to create and sustain high-quality, inclusive, and responsive services that improve the wellbeing of children, young people and their families. We aim to achieve this by working to:

  1. Ensure all children and young people are able to have positive play and learning experiences in a safe, fun and stimulating environment

  2. Help to improve children and young people’s wellbeing by developing their emotional, educational, physical and social skills and raising their aspirations

  3. Support children, young people and families to be more understanding, accepting and respectful of others and to value differences

2

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

  1. Provide early intervention measures to increase the life chances of children, young people and families who are at risk of social exclusion

  2. Provide quality, affordable childcare and holistic family services, giving parents/carers support, respite and opportunities to access work and training

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PB2)’. The charity relies on contracts, grants and the income from fees and charges to cover its operating costs. Where possible, we ensure that services are free to access. Affordability and access to our services are very important to us and are reflected in our pricing structure for services which charge fees.

PACE works with children with a diverse range of different needs and abilities from a range of backgrounds and we endeavour to be a champion for inclusion and encourage all children and young people within our community to access our services.

In order to work towards achieving our charitable aims and objectives PACE have four main areas of activity which are: out of school childcare and play services, early years services, short breaks and mentoring services.

Operational Review

Impact of the COVID-19 Pandemic

In 2021 the impact of the Covid-19 pandemic has continued to cause significant challenges for PACE, our beneficiaries and our wider community.

Restrictions on how PACE services were able to operate continued in 2021. During the third national lock-down in January 2021, preschool services remained open to all children although take up was initially very low, with play services only open to vulnerable children and children of keyworkers until March 2021, when restrictions were eased to allow children of working parents to attend, although with limited spaces available until June 2021. Mentoring and short breaks services remained open, but with very low take-up which gradually grew to more normal levels towards the end of the Spring term.

The impact of Government restrictions meant that there were fewer childcare places available for many parents and less flexibility; meaning we were not able to offer ad-hoc places or there being only inconsistent childcare places available. Vulnerable children were prioritised for spaces, particularly those with care plans or disabilities, with the remaining places being offered to children of working parents.

Uptake of specialist services continued to be affected in 2021. Many parents were fearful of their children accessing services due to the risk of catching Covid; particularly parents of disabled children who were referred to community-based services. However, levels of uptake improved during periods of the year when Covid case rates were lower and had returned to normal levels in 2022.

3

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The impact of the pandemic on PACE finances was significant in 2021, with loss of income from parental childcare fees and spot-purchase of services such as mentoring during the third national lockdown. However, levels of income from these streams returned to normal from mid-2021.

PACE continued to effectively mitigate against the significant loss of income through a variety of local and national Government support mechanisms, including proportionate use of the furlough scheme, and business rates relief. Additionally, PACE was able to balance the loss of income with a reduction in operating costs. This has resulted in PACE achieving a small surplus at the 2021 financial year-end.

Out of School Childcare & Play Services

Out of School Childcare & Play services, delivered after school and during school holidays, provide children with a wide variety of activities which include social games and activities, sports, arts, off-site trips, and imaginative free play. After school clubs and holiday playschemes based at Fairfield Playcentre, Fortune Green Playcentre and Camden Square Playcentre provide somewhere safe and enjoyable for children to play and socialise with their friends, whilst offering childcare for working parents and parents engaged in volunteering or education. Children who use our after-school clubs come from diverse backgrounds, some of the children who use these services are referred to us by other agencies or organisations, this includes children with disabilities and children who have care plans.

PACE continue to deliver Out of School Childcare & Play Services commissioned by Camden Council, contracted until 2024.

In 2021, we continued to receive high levels of user satisfaction. Fairfield Playcentre and Fortune Green Playcentre achieved “good” and “outstanding” ratings in their most recent Ofsted inspections. Camden Square Playcentre has been registered with Ofsted and had it's first inspection as a PACE project on 31st May 2021 and is the first of our settings to be inspected under the new inspection framework that came into operation in September 2019. Under this new framework, settings that only work with children before or after school and during school holidays are given either met or unmet judgements, with subdivisions for settings that don't meet the requirements. Camden Square received a fully met judgement.

From January-March 2021, services were only open to vulnerable children and children of keyworkers, reopening to all children but with reduced numbers in line with Government guidelines from MarchJune 2021. Since June 2021, Out of School Childcare & Play Services have returned to normal operations with high levels of uptake.

Ancillary weekend services, which focus on visual arts and natural play were unable to be delivered for the majority of 2021, with the Natural Play Saturday project reopening for the Autumn term before coming to an end in December 2021. We intend to look at ways in which we can incorporate the natural play project into our after-school programme. The Artists In Training project is due to restart in September 2022.

4

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

During the Easter, Summer and Christmas holiday periods in 2021, PACE participated in delivering the Holiday Activities and Food (HAF) Programme as the lead partner of a consortium of 8 play providers operating across 10 sites. The consortium delivered 666 spaces for children who were eligible for free school meals, with each child accessing at least 16 hours of provision each holiday. Within the HAF programme, sports, free play, cooking and nutritional education, with lunch and snacks were provided.

In 2022 we aim to redouble our commitment to maintaining and improving the quality of our service delivery through engagement in the Bristol Standard quality improvement framework and accreditation in the Camden Healthy Lives Award, as well as improving our systems for outcomes measurement.

Early Years Services

Preschool services offer high-quality early learning opportunities for children aged 2 to 4 years old to develop in all aspects of the Early Years Foundation Stage curriculum. PACE preschool services at Fairfield Playcentre and Fortune Green Playcentre offer a warm, friendly, and happy environment and the staff teams work hard to ensure that all children, regardless of background, age, or need, receive the opportunity to engage in and experience a variety of playful activities which will build an interest, thirst and want for learning, thus setting the foundations for the rest of their lives.

Drop-in services at PACE’s centres offer stay-and-play sessions for parents/carers and their under 5’s. These informal sessions involve activities such as story-telling, sing-along time, arts & crafts; providing opportunity for parents to meet each other and engage in activities which support their children’s development.

In 2021, uptake of spaces during the Spring term were low due to parental anxiety around Covid infection rates, however this increased to normal levels in the Summer term. Since the Autumn term, uptake at Fairfield Playcentre and Fortune Green Playcentre has been close to full capacity.

Fortune Green preschool has been supporting apprentices to develop their skills in Early Years and to build our workforce for the future. One apprentice is due to complete their studies in early 2022, with another apprentice starting their placement in September 2021.

Fairfield preschool has been supporting high numbers of children with Special Educational Needs (SEN); putting targeted interventions in place to support their learning and development.

Drop-in services reopened at all centres in the Autumn term, with lots of new users attending, many of whom have gone on to register their children for preschool services.

Short Breaks

5

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

We continue to deliver short breaks commissioned by Camden Council through our Short Breaks consortium delivery partners WacArts, with whom we continue to look at ways to further develop a joined-up approach for the benefit of children and families. Our most recent Care Quality Commission (CQC) inspection rated regulated services as “good”.

Ensuring sufficient staffing capacity has been an ongoing challenge in a current difficult labour market. To help address this challenge, we have found flexible ways of offering alternative group-based provision to ensure families continue to benefit from support and respite.

In the first half of 2021, uptake of Short Breaks services was low due to parental concerns about risk of infection, particularly regarding services taking place in the community. During the third national lockdown in January-March 2021, we were able to offer alternative provision for small groups of children at Fairfield playcentre on a bi-weekly basis, offering play opportunities for children and respite for their parents in a safe and secure environment.

We were prevented from offering overnight respite provision due to Government guidelines until June 2021 and ran a daytime-only service during that period. However, Overnight stays were able to resume as normal in the second half of 2021.

With our partners WacArts, PACE successfully tendered for a new 3-year contract for delivery of Short Breaks for Camden Council. In the new contract, PACE will continue to deliver the overnights service as well as a new Saturday provision with a focus on physical activities and active play. PACE did not retender for delivery of PBS services and we are working to ensure a smooth transition to the new provider.

Mentoring Services

6

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The 1:1 keyworking service continues to sustain a high level of quality and commissioner and user satisfaction.

During the Spring term 2021 uptake dropped significantly, although this picked up to normal levels from the Summer term onwards.

There has been a shift in the demographics of users referred to this service, with more girls and children from affluent backgrounds requiring support.

The Rebuilding Bridges programme was delivered in Summer 2021 with a varied programme of exciting and structured activities including high ropes, quad-biking, swimming, trampolining, extreme water-sports, a trip to the seaside and a restaurant meal. Two groups of children aged 8-14 with social, emotional and mental health difficulties participated in the programme, which supported their development of social skills, conflict-resolution, peer mediation and increasing self-confidence and self-esteem.

In 2022, PACE will focus on increasing uptake of mentoring services and securing funding for a wider roll-out of the Rebuilding Bridges programme later in the year.

7

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Financial review

In 2021 PACE’s surplus of £19,459 (2020 surplus: £73,734) increased the level of free unrestricted reserves to £451,888 (2020: £428,427).

Incoming resources for the year increased to £1,235,194 (2020: £1,231,852). Additionally, although income sources were still hindered by the pandemic, government support and new grant opportunities were offered to ensure that PACE could continue to operate. There was also an uplift in the amount of the Camden Play contract.

Expenditure increased to £1,215,736 (2020: £1,158,118) due to this operations returning closer to normal than in 2020. The organisation continued to operate as much as possible during the year, which meant increased spending on cleaning and equipment to allow working from home where possible.

Unrestricted reserves increased to £451,138 from £428,427 which represents between four-five months of unrestricted operating costs (2020: just over four months).

It is the trustees’ intention to ensure that there are adequate reserves, as represented by its unrestricted funds as at the Balance Sheet date.

As detailed above, the Covid-19 pandemic continued to have a significant impact on the organisation’s finances, but by utilising government assistance mechanisms minimising operating expenditure where possible, our result for 2021 included a small unrestricted surplus, helping to bolster our free reserves as we rebuild from the pandemic in 2022.

Reserves policy

PACE reserves policy states that it will aim to ensure that it has between three and six months’ worth free reserves to cover its operational expenses. This allows for the delivery of any projects which have started, the opportunity to source new income streams and three months’ worth of wind-up costs to discharge all the charity’s liabilities in the event that the Trustees decide the charity is no longer a viable going concern.

In light of the ongoing financial impact of the Covid-19 pandemic, the Trustees have considered this reserves policy and feel that it is still sufficient to cover expected income volatility and short term working capital requirements.

At the date of approval of these accounts the Charity’s reserves position has been maintained in accordance with the reserves policy.

Fundraising

In accordance with our policy we publish the names of any individuals or organisations who support us with funding over £1,000, whether in money or in kind:-

8

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

In order to meet the growing need for non-statutory services and activities in response to the impact of the pandemic, PACE has continued to focus on fundraising from Trust and Foundations and is looking to further develop our fundraising strategy to increase the proportion of income raised from non-statutory sources.

Plans for future periods:

PACE have conducted an analysis of the impact of Covid on the organisation and the societal impacts on our existing business plan.

The PACE Board are prioritizing those areas most in need of attention and developing a roadmap and deliverables required against actions to be taken, including the governance, systems and structures required to build, track, implement and measure those deliverables.

The revised strategic plan will be finalized and published in 2022, establishing how PACE plan to address challenges and risks, and our development strategies and priorities, including:

9

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

Principle risks and uncertainties:

We have a risk register that is reviewed at all Finance and Risk subcommittee meetings and formally reviewed by the full Board twice a year.

The Covid-19 pandemic has caused great hardship and suffering to our local community, meaning that our beneficiaries have greater levels of need for services. PACE is looking at ways to adapt our existing services to better meet those needs. Additionally, we are looking closely at the emerging needs of our beneficiaries to see what additional services may need to be developed in the future in order for us to continue to respond and fulfil our charitable purpose effectively.

Financial risks include the high rate of inflation against a backdrop of stagnating levels of funding from Local Authority contracts. A high proportion of PACE income is Local Authority funding which has come under immense pressure as a result of the pandemic, following years of austerity. PACE continue to look at ways to diversify our income streams and have increased our fundraising resource in order to increase the proportion of income secured from Trusts and Foundations and other sources in future.

There are intense pressures on the labour market at present, making it very difficult to recruit staff to ensure services are staffed to capacity. In order to mitigate, we plan to increase opportunities for apprenticeships, student placements and volunteering opportunities in order to develop the staff of the future for the organisation.

As an organisation, which works with vulnerable children and young people, a major risk to the organisation involves ensuring the safety and welfare of our beneficiaries. The vulnerability of our users has been exacerbated by the effects of the pandemic, potentially resulting in greater numbers of safeguarding concerns and mental health issues amongst our users. To mitigate against this risk, we are looking to enhance the level of training offered to staff in order to respond to these needs effectively, as well as continuing to ensure robust safeguarding and health and safety policies and procedures are implemented throughout the organisation.

The external environment is extremely unstable and there is a risk that priorities may change in an unprecedented political and economic environment, so we remain mindful of the importance of monitoring the external environment for potential changes and developing contingency plans where possible.

Trustees’ responsibilities

The Trustees (who are also directors of Play Adventures & Community Enrichment for the purposes of company law) are responsible for preparing the Trustees’ Report and Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial period, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

10

PLAY ADVENTURES & COMMUNITY ENRICHMENT

TRUSTEES REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement on Information Given to Auditors

Each of the persons who is a trustee at the date of approval of this report confirms that:

This confirmation is given and should be interpreted in accordance with the provisions of s418 of the Companies Act 2006.

Independent Auditors

A proposal to re-appoint Knox Cropper LLP as the Statutory Auditors will be proposed at our forthcoming AGM.

Approval

Approved and authorised for issue by the Board of Trustees on 27 September 2022 and signed on their behalf by:-

Lé Ho-Everiste (Chair)

Claire Dishington (Treasurer)

11

PLAY ADVENTURES & COMMUNITY ENRICHMENT

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2021

Opinion

We have audited the financial statements of Play Adventures & Community Enrichment (the ‘charitable company’) for the year ended 31 December 2021 which comprise the statement of financial activities, the balance sheet, statement of cash flows and notes to the financial statements, 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 Financial Reporting Standard 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:

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 Financial Reporting Council’s (FRC) 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 the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

12

PLAY ADVENTURES & COMMUNITY ENRICHMENT

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2021

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 there is a material misstatement in the financial statements. 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.

Opinion on other matters prescribed by the Companies Act 2006

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

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 directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company 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 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.

13

PLAY ADVENTURES & COMMUNITY ENRICHMENT

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2021

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 is detailed below:

A further description of our responsibilities for the audit of the financial statements is located 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 member 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 member for our audit work, for this report or for the opinions we have formed.

27 September 2022

Simon Goodridge, Senior Statutory Auditor For and on behalf of Knox Cropper LLP, Statutory Auditor 65 Leadenhall Street London EC3A 2AD

14

PLAY ADVENTURES & COMMUNITY ENRICHMENT

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
Incoming resources
Incoming resources from
charitable activities:-
Grants receivable
Contributions from parents
Other fees and contributions
Other Income
Total incoming resources
2
Resources expended
Charitable activities:-
•
Early years
•
Play provision
•
Short breaks
•
Mentoring
Total resources expended
3 & 4
Income less expenditure
Transfers
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted /
Designated
Restricted
Total
2021
Total
2020
£
£
£
£
839,407
17,400
856,807
906,655
179,939
-
179,939
110,023
166,090
-
166,090
116,653
32,359
-
32,359
98,521
1,217,795
17,400
1,235,195
1,231,852
284,133
692,138
86,584
130,247
-
12,173
-
10,461
284,133
704,311
86,584
140,708
252,327
690,471
91,448
123,872
1,193,102
22,634
1,215,736
1,158,118
24,693
(5,234)
19,459
73,734
(1,232)
1,232
-
-
23,461
(4,002)
19,459
73,734
428,427
6,252
434,679
360,945
451,888
2,250
454,138
434,679

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The notes on pages 18 to 26 form part of these financial statements.

15

PLAY ADVENTURES & COMMUNITY ENRICHMENT

BALANCE SHEET AS AT 31 DECEMBER 2021

Notes
Fixed assets
8
Current assets
Debtors
9
Cash in hand and in bank
Creditors: amounts falling due
within one period
10
Net current assets
Net assets
Funds
Unrestricted fund
Restricted funds
Total funds
12&13		 2021
£
£
-
48,209
658,042
706,251
(252,113)
454,138
454,138
451,888
2,250
454,138		 2021
£
£
-
48,209
658,042
706,251
(252,113)
454,138
454,138
451,888
2,250
454,138		 2020
£
£
-
56,576
540,486
597,062
(162,383)
434,679
434,679
428,427
6,252
434,679		 2020
£
£
-
56,576
540,486
597,062
(162,383)
434,679
434,679
428,427
6,252
434,679
706,251
(252,113)		 597,062
(162,383)
451,888
2,250		 428,427
6,252
454,138 434,679
434,679
454,138

These financial statements were approved and authorised for issue by the Board of Trustees on 27 September 2022 and signed on their behalf by:-

Claire Dishington – Treasurer Lé Ho-Everiste – Chair

Registered company number: 07758246 (England and Wales) The notes on pages 18 to 26 form part of these financial statements

16

PLAY ADVENTURES & COMMUNITY ENRICHMENT

STATEMENT OF CASHFLOWS AS AT 31 DECEMBER 2021

Notes
Net cash (used by)/provided from operating activities
15
Cash flows from investing activities
16
Net change in cash and cash equivalents in the year
Reconciliation of net cash flow to movement in net cash
Movement in net cash in the year
Net cash and cash equivalents brought forward
Net cash and cash equivalents carried forward		 2021
£
116,311
1,245
117,556
117,556
540,486
658,042		 2020
£
14,426
1,940
16,366
16,366
524,120
540,486

17

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1.1 Accounting convention

The financial statements are prepared in accordance with the Statement of Recommended Practice: Accounting and reporting by charities (SORP – FRS 102 second edition), applicable accounting standards and the Companies Act 2006. The financial statements are presented in Sterling (£).

Statement on going concern

After reviewing the charity’s forecasts and projections, the directors have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. In forming this opinion, they refer to the charity’s July 2022 management report outlining the end of year reserves. Accordingly, they continue to adopt the going concern basis in preparing the accounts.

1.2 Company status

The charity is a company limited by guarantee. The directors of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

1.3 Incoming resources

Incoming resources represents the total income receivable during the year comprising of grant income for play activities, contributions from parents and other fees and contributions (being mainly mentoring income). All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable certainty.

1.4 Expenditure

All expenditure is included on an accruals basis and is inclusive of all VAT, which cannot be reclaimed, and is reported as part of the expenditure to which it relates:

18

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

1.5 Funds

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds, which are to be used in accordance with specific restrictions imposed by the donor. The aim and use of the restricted fund is set out in the notes of the financial statements.

1.6 Tangible fixed assets and depreciation

Capital expenditure on items costing £5,000 or higher are recorded as tangible fixed assets. Tangible fixed assets are stated at cost valuation less depreciation.

Depreciation is provided at rates calculated to written off the cost or valuation less estimated residual of each asset over its expected useful life as follows:-

There are no other classes of fixed assets.

1.7 Taxation

Play Adventures & Community Enrichment is a registered charity and is not liable to Corporation Tax on its Charitable Activities.

19

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

2 Incoming resources

ncoming resources
Charitable Activities
Grants receivable
Contributions from parents
Other fees and contributions
Other income		 Unrestricted
2021
Restricted
2021
Total
2021
Total
2020
£
£
£
£
839,407
17,400
856,807
906,655
179,939
-
179,939
110,023
166,090
-
166,090
116,653
32,359
-
32,359
98,521
1,217,795
17,400
1,235,195
1,231,852

Restricted grants are shown in Note 11. Other income includes furlough grants received from the government during the Covid-19 pandemic (2021: £28,441, 2020: £98,521).

3 Charitable Activities

haritable Activities
Charitable Activities
Early years
Play provision
Short breaks
Mentoring		 Unrestricted
2021
Restricted
2021
Total
2021
Total
2020
£
£
£
£
284,133
-
284,133
252,327
692,138
12,173
704,311
690,471
86,584
-
86,584
91,448
130,247
10,461
140,708
123,872
1,193,102
22,634
1,215,736
1,158,118

4 Analysis of Charitable Activities

Early Years
Play Provision
Short Breaks
Mentoring
Total		 Direct
Costs
£
214,446
565,839

66,659
117,848
964,792
 Support
Costs
£
69,687
138,472
19,925
22,860
250,944
 Total
£
284,133
704,311
86,584
140,708
1,215,736

20

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

5 Support Cost Allocation

Staffing costs
Operating costs
Facilities costs
Infrastructure costs
Finance costs
Other costs
Total		 Early Years
£
41,730
4,841
10,101
7,775
3,886
1,354
69,687		 Play
Provision
£
82,920
9,620
20,072
15,449
7,721
2,690
138,472		 Short
Breaks
£
11,932
1,384
2,888
2,223
1,111
387
19,925		 Mentoring
£
13,690
1,588
3,314
2,550
1,274
444
22,860		 Total
£
150,272
17,433
36,375
27,997
13,992
4,875
250,944

Included in Support Costs are £5,855 of Governance Costs (2020: £5,400).

Costs are allocated directly to the activities to which they relate using a proportion of income.

6 Governance costs (included in Note 4)

overnance costs (included in Note 4)
Auditors’ remuneration
Trustees’ expenses		 2021
2020
£
£
5,556
5,280
299
120
5,855
5,400

7 Trustees and staff remuneration

The trustees received no remuneration (2020: £nil) but 1 Trustee received reimbursement of expenses totalling £299 (2020: 1 Trustees received a total of £120).

Staff remuneration and numbers

Wages and salaries
Social Security costs
Pension costs		 Total
2021
Total
2020
£
£
907,822
859,542
60,544
56,674
36,350
33,496
1,004,716
949,712

Wages and Salaries includes pension costs. The average number of full and part-time employees during the year were as follows:

2021 2020
100 92

No employees received emoluments of more than £60,000 per annum (2020: none). Senior Management Personnel costs amounted to £43,082 (2020: £40,825).

21

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

8 Fixed assets

ixed assets
Cost
Brought forward
Carried forward
Depreciation
Brought forward
Carried forward
Net book value
At 31 December 2021
At 31 December 2020		 Computer
equipment
£
5,299
5,299
5,299
5,299
-
-

There are no charges or securities held over any fixed assets.

9 Debtors

Prepayments
Debtors and accrued income
reditors: amount falling due within one year
Creditors
Deferred income
Credit Card
Accruals		 2021
2020
£
£
25,988
22,502
22,221
34,074
48,209
56,576
2021
2020
£
£
29,276
12,613
126,754
82,609
-
489
96,083
66,672
252,113
162,383

10 Creditors: amount falling due within one year

22

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

11 Analysis of net assets between funds

nalysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2021		 Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
-
-
-
704,001
2,250
706,251
(252,113)
-
(252,113)
451,888
2,250
454,138

Comparative

Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2020
Movements in funds
At 1 January
2021
£
Unrestricted general fund
428,427
Restricted funds:-
Artist in Training
6,252
Natural Play Project
-
Rebuilding Bridges
-
6,252
434,679		 Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2020
Movements in funds
At 1 January
2021
£
Unrestricted general fund
428,427
Restricted funds:-
Artist in Training
6,252
Natural Play Project
-
Rebuilding Bridges
-
6,252
434,679		 Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
-
-
-
590,810
6,252
597,062
(162,383)
-
(162,383)
428,427
6,252
434,679
Incoming
Resources
Resources
Expended
Transfers
At 31
December
2021
£
£
£
£
428,427 1,217,795
(1,193,102)
(1,232)
451,888
6,252
-
-		 -
(4,002)
-
2,250
8,000
(8,171)
171
-
9,400
(10,461)
1,061
-
6,252 17,400
(22,634)
1,232
2,250
434,679 1,235,195
(1,215,736)
-
454,138

12 Movements in funds

Artist in Training

This fund, provided by the City Bridge Trust, is ringfenced for the activity of artistic projects for children.

23

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

Natural Play Project

This fund, provided by Children in Need, is ringfenced for natural play activities such as Bushcraft. The fund went into a minor deficit by the year end and a transfer of £171 was therefore made from unrestricted funds as PACE’s continued support for this activity.

Rebuilding Bridges Project

This project, funded by Young Camden Foundation, works with children who may be experiencing issues including undiagnosed Emotional & Behavioural Difficulties, problems within school, challenging home environments or Mental Health issues as described in the Trustees Report under “Mentoring”. There was very little activity during the year as schools were closed due to Covid. However, the fund went into a minor deficit by the year end and a transfer of £1,061 was therefore made from unrestricted funds as PACE’s continued support for this activity.

13 Comparative movements in funds

Unrestricted general fund
Restricted funds:-
Artist in Training
Natural Play Project
Rebuilding Bridges		 At 1 January
2020
Incoming
Resources
Resources
Expended
Transfers
At 31
December
2020
£
£
£
£
£
351,276
1,211,564
(1,129,095)
(5,318)
428,427
9,669
16,183
(19,600)
-
6,252
-
4,105
(9,377)
5,272
-
-
-
(46)
46
-
9,669
20,288
(29,023)
5,318
6,252
360,945
1,231,852
(1,158,118)
-
434,679

14 Related parties

There were no transactions with related parties during this or the prior year.

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

Net Income for the reporting period
Investment income
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors and provisions
Net cash (used by)/provided from operating activities		 2021
£
19,458
(1,245)
8,367
89,731
116,311		 2020
£
73,734
(1,940)
24,314
(81,682)
14,426

24

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

16 Cash flows from investing activities

Interest Received
Net cash (used by)/provided from operating activities		 2021
£
1,245
1,245		 2020
£
1,940
1,940

17 Analysis of changes in net debt

Cash and Cash Equivalents
Cash		 At 1 January
2021
Cashflows
Non-Cash
Changes
At 31 December
2021
540,486
117,556
-
658,042
540,486
117,556
-
658,042

25

PLAY ADVENTURES & COMMUNITY ENRICHMENT

NOTES TO THE FINANCIAL STATEMENTS CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021

18 Comparative 2020 SOFA

Notes
Unrestricted /
Designated
Restricted
£
£
Incoming resources
Incoming resources from
charitable activities:-
Grants receivable
886,437
20,218
Contributions from parents
109,953
70
Other fees and contributions
116,653
-
Other Income
98,521
-
_
_
Total incoming resources
1,211,564
20,288
_
_
Resources expended
Charitable activities:-
•
Early years
•
Play provision
•
Short breaks
•
Mentoring
252,327
661,494
91,448
123,826
-
28,977
-
46
_
_
Total resources expended
1,129,095
29,023
_
_
Income less expenditure
82,469
(8,735)
Transfers
(5,318)
5,318
_
_
Net movement in funds
77,151
(3,417)
Reconciliation of funds
Total funds brought forward
351,276
9,669
_
_
Total funds carried forward
428,427
6,252
_
_		 Total
2020
£
906,655
110,023
116,653
98,521
__
1,231,852
__
252,327
690,471
91,448
123,872
__
1,158,118
__
73,734
-
__
73,734
360,945
__
434,679
__

26