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2022-12-31-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 2022

CONTENTS

Page
Reference and Administrative Details of the
Charity, its Trustees and Advisers 1
Trustees’ Report 2 - 9
Independent Auditors’ Report 10- 12
Statement of Financial Activities 13
Balance Sheet 14
Statement of Cashflows 15
Notes to the Financial Statements 16 - 23

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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)
K Kadri (resigned 2ndDecember 2022)
J Mann
N Gajree (resigned 25thSeptember 2022)
G Smith (appointed 12thJanuary 2022)
S Hug-Williams (appointed 12thJanuary 2022)
S Balogun (appointed 8thFebruary 2023)
Key management personnel Henry Purkis (Chief Operating Officer) (resigned 20thMay
2022)
Jamie Dippie (Chief Operating Officer (appointed 13thMarch
2023)
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 2022

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 2022. 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

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

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

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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 COVID-19 Pandemic

In 2022 the impact of the Covid-19 pandemic was assessed and has now been reduced only to intermittent periods of staff sickness. In these situations, sessional staff were used as cover. All PACE services continued throughout the year.

Out of School Childcare and Play Services

Out of School Childcare and 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. In 2022, we continued to receive high levels of user satisfaction.

In May 2022, Camden Square Playcentre received a visit from Ofsted, the first visit since joining PACE in 2019, and as Camden Square Playcentre do not deliver an Early Years service, the outcome ranking is rated differently. Camden Square Playcentre achieved a rating of “met all requirements”.

In October 2022, Fortune Green Playcentre received an Ofsted visit and achieved a “good” rating. In November 2022, Fairfield Playcentre received an unannounced Ofsted visit and received a rating of “inadequate”. Since that report, we received another visit from Ofsted (April 2023), and as a result of implementing improvements across many areas within the preschool, Fairfield Playcentre has now received a rating of “good”.

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

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Ancillary weekend services focused on visual arts and natural play recommenced during 2022, with the Natural Play Saturday project being delivered at Fortune Green Playcentre and Camden Square Playcentre, alongside the ‘Get Active’ project at Fortune Green Playcentre.

During the 2022 Easter, Summer and Christmas holidays, PACE participated in the delivery of the Holiday Activities and Food Programme (HAF) as the lead partner of a consortium of 8 play providers operating across 10 sites in Camden. The consortium delivered 764 spaces (666 in 2021) for children on free school meals, with each child accessing 16 hours of provision each eligible holiday week. This included sports, free play, cooking and nutritional education, with lunch and snacks provided.

In 2023 we aim to redouble our commitment to maintaining and improving quality services through engagement in the Bristol Standard quality improvement framework, which supports staff development and assists in quality measurement and recognition with Ofsted.

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 preschool and Fortune Green preschool offer a warm, friendly, and happy environment and staff at these centres 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 build an interest, thirst and want for learning, thus setting the foundations for the rest of the children’s lives.

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

Fortune Green preschool continues to support apprentices to develop their skills in early years and to build our workforce for the future. One apprentice completed their studies in October 2022, and is now a permanent member of staff. Another apprentice completed their studies in February 2023 and is now employed as a permanent member of staff.

Fairfield preschool has been supporting high numbers of children with SEN, putting targeted interventions in place to support children’s learning and development.

Drop-in services were open at Camden Square and Fortune Green, with lots of new users attending, many of whom have gone on to register their children for preschool services at Fortune Green preschool.

Short Breaks

Overnights offer 24 hour-long short breaks for children with disabilities and respite for their families. For many of the disabled children who use this service, attending a PACE overnight is the first time they have spent a night away from their home and parents. The service involves small groups of children engaging in exciting and fun activities and staying overnight and making friends with other young people at our play centre in Fortune Green.

Play & Care Service is a one-to-one community-based service for children with disabilities. These breaks are provided regularly over planned periods of time to give parent/carers a break from caring whilst also offering a positive experience for the child or young person. We continue to deliver short

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

breaks commissioned by Camden Council through our Short Breaks consortium delivery partner WacArts, with whom we continue to look at ways to further develop a joined-up approach for the benefit of children and families.

Ensuring sufficient staffing capacity has been an ongoing challenge in a difficult labour market and continues to be so in 2023. With our partner WacArts, PACE successfully tendered for a new 3-year contract for delivery of short breaks for Camden Council. In the new contract, PACE continued to deliver the overnights service as well as a new Saturday provision with a focus on physical activities and active play.

Mentoring Services

1:1 Key-working Service - The daytime service works with children from Camden and neighbouring boroughs who have been excluded from school (or are at risk of exclusion) due to social, emotional, and mental health difficulties. The service is commissioned by pupil referral units, school inclusion teams, children’s homes, and individual schools to provide keyworkers to engage young people in positive activities on a one-to-one basis. The service provides highly experienced keyworkers from a play work or youth work background to engage the young people in an individualised programme of educational, physical, and creative activities created in partnership with the commissioning agency and the young person themselves. This process is designed to support the young person to build social skills, develop life-skills, increase self-confidence and emotional well-being and ultimately support the young people to reintegrate into mainstream education.

Rebuilding Bridges Project - This project is being delivered as partnership between Camden Council, PACE and CAMHS, funded by the Department of Education’s Respite Innovation Fund. The project will work with 38 children/young people over a period of 12 months (from June 2022 – June 2023).

The Rebuilding Bridges project offers enjoyable activities with positive outcomes for children/young people, as well as respite and holistic, and joined-up support to families. This includes:

This project continued to operate again from April 2022, with a one-year grant from the Department of Education and commissioned by Camden Council. Each year Camden council resubmits the bid for the next year, and the Rebuilding Bridges Project is currently funded until March 2024.

The one-to-one key-working service continues to sustain a high level of quality and user satisfaction, and PACE’s delivery and approach to this project is being hailed by the Department of Education as the model to which all organisations should be delivering this service.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Financial review

In 2022 PACE’s deficit of £20,152 (2021 surplus: £19,459) decreased the level of free unrestricted reserves to £433,986 (2021: increased to £454,138) due to increased levels of operating costs and a company-wide pay increase.

Incoming resources for the year increased to £1,698,420 (2021: £1,235,195). PACE was able to operate unhindered all year in 2022, which saw a significant increase to parental income and mentoring income. Additionally, with the Rebuilding Bridges project being rolled out in full, and the HAF programme also increasing in numbers, PACE could continue to operate and deliver to a higher level than previous years.

Expenditure increased to £1,718,572 (2021: £1,215,736) due to PACE’s operations increasing further than the previous year. The increase in staffing and operational costs, as well as a company-wide pay rate increase, accounted for most of the increase to expenditure.

Unrestricted reserves decreased to £350,386 from £451,888 which represents just under three months of unrestricted operating costs (2021: between four to five 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.

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:

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

In order to meet the growing need for non-statutory services and activities, PACE will continue to further develop our fundraising strategy to increase the proportion of income raised from Trusts and Foundations and corporate partnerships.

Plans for future periods

The PACE Board have started to develop their 3-5 year Strategic Roadmap, which will be finalised and published in 2023. Looking at the opportunities, challenges and risks for the organisation, we will be prioritising:

Principle risks and uncertainties

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

PACE is looking at ways to adapt our existing services to better meet the needs of our beneficiaries in this time hardship caused by the cost-of-living increase. Additionally, we are looking closely at the emerging needs of our beneficiaries to see what additional services may need to be developed in future in order for us 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 and 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 & Foundations and other sources for the future.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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 that 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.

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:

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

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.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approval

Approved and authorised for issue by the Board of Trustees on 12th August 2023 and signed on their behalf by:-

Lé Ho-Everiste (Chair)

Claire Dishington (Treasurer)

9

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2022

Opinion

We have audited the financial statements of Play Adventures & Community Enrichment (the ‘charitable company’) for the year ended 31 December 2022 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.

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.

10

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2022

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.

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:

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Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2022

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.

1 September 2023

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

12

PLAY ADVENTURES & COMMUNITY ENRICHMENT STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022

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
2022
Total
2021
£
£
£
£
857,726
127,797
985,523
856,807
326,731
-
326,731
179,939
260,917
96,202
357,119
166,090
10,265
18,782
29,047
32,359
1,455,639
242,781
1,698,420
1,235,195
339,260
961,483
100,708
154,614
-
117,718
-
44,789
339,260
1,079,201
100,708
199,403
288,133
704,311
86,584
140,708
1,556,065
162,507
1,718,572
1,215,736
(100,426)
80,274
(20,152)
19,459
(1,076)
1,076
-
-
(101,502)
81,350
(20,152)
19,459
451,888
2,250
454,138
434,679
350,386
83,600
433,986
454,138

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The notes on pages 16 to 23 form part of these financial statements.

13

PLAY ADVENTURES & COMMUNITY ENRICHMENT BALANCE SHEET AS AT 31 DECEMBER 2022

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		 2022
£
£
-
128,682
593,785
722,467
(288,481)
433,986
433,986
350,386
83,600
433,986		 2022
£
£
-
128,682
593,785
722,467
(288,481)
433,986
433,986
350,386
83,600
433,986		 2021
£
£
-
48,209
648,042
706,251
(252,113)
454,138
454,138
451,888
2,250
454,138		 2021
£
£
-
48,209
648,042
706,251
(252,113)
454,138
454,138
451,888
2,250
454,138
722,467
(288,481)		 706,251
(252,113)
350,386
83,600		 451,888
2,250
433,986 454,138
454,138
433,986

These financial statements were approved and authorised for issue by the Board of Trustees on 12 August 2023 and signed on their behalf by:-

Claire Dishington – Treasurer Lé Ho-Everiste – Chair

Registered company number: 07758246 (England and Wales) The notes on pages 16 to 23 form part of these financial statements

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PLAY ADVENTURES & COMMUNITY ENRICHMENT STATEMENT OF CASHFLOWS AS AT 31 DECEMBER 2022

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		 2022
£
(65,970)
1,713
(64,257)
(64,257)
658,042
593,785		 2021
£
116,311
1,245
117,556
117,556
540,486
658,042

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PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

1 Accounting Policies

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 have looked forward 12 months into the future from approval of the annual report and financial statements to September 2024. 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:

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.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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.

2 Incoming resources

Charitable Activities
Grants receivable
Contributions from parents
Other fees and contributions
Other income		 Unrestricted
2022
Restricted
2022
Total
2022
Total
2021
£
£
£
£
857,726
127,797
985,523
856,807
326,731
-
326,731
179,939
260,917
96,202
357,119
166,090
10,265
18,782
29,047
32,359
1,455,639
242,781
1,698,420
1,235,195

Restricted grants are shown in Note 12. Other income in the prior year includes furlough grants received from the government during the Covid-19 pandemic (2021: £28,441).

3 Charitable Activities

Charitable Activities
Early years
Play provision
Short breaks
Mentoring		 Unrestricted
2022
Restricted
2022
Total
2022
Total
2021
£
£
£
£
339,260
-
339,260
284,133
961,483
117,718
1,079,201
704,311
100,708
-
100,708
86,584
154,614
44,789
199,403
140,708
1,556,065
162,507
1,718,573
1,215,736

17

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

4 Analysis of Charitable Activities

Early Years
Play Provision
Short Breaks
Mentoring
Total		 Direct
Costs
£
278,566
911,881

91,571
162,169
1,444,187
 Support
Costs
£
60,694
167,320

9,137
37,234
274,385
 Total
£
339,260
1,079,201
100,708
199,403
1,718,572

5 Support Cost Allocation

Staffing costs
Operating costs
Facilities costs
Infrastructure costs
Finance costs
Other costs
Total		 Early Years
£
38,183
6,064
3,910
8,575
3,595
267
60,694		 Play
Provision
£
105,539
16,716
10,780
23,639
9,911
736
167,320		 Short
Breaks
£
5,736
913
589
1,291
541
40
9,137		 Mentoring
£
23,486
3,720
2,399
5,260
2,206
164
37,234		 Total
£
173,071
27,413
17,678
38,765
16,253
1,206
274,385

Included in Support Costs are £5,882 of Governance Costs (2021: £5,855). Costs are allocated directly to the activities to which they relate using a proportion of income.

6 Governance costs (included in Note 5)

overnance costs (included in Note 5)
Auditors’ remuneration
Trustees’ expenses		 2022
2021
£
£
5,653
5,556
229
299
5,852
5,855

18

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

7 Trustees and staff remuneration

The trustees received no remuneration (2021: £nil) but 1 Trustee received reimbursement of expenses totalling £27 (2021: 1 Trustee received a total of £299).

Staff remuneration and numbers

taff remuneration and numbers
Total Total
2022 2021
£ £
Wages and salaries 1,203,676 907,822
Social Security costs 84,488 60,544
Pension costs 44,566 36,350
1,332,730 1,004,716
Wages and Salaries includes pension costs.
The average number of full and part-time employees during the year were as follows:
2022 2021
122 100

No employees received emoluments of more than £60,000 per annum (2021: none). Senior Management Personnel costs amounted to £46,858 (2021: £43,082).

8 Fixed assets

Cost
Brought forward
Disposals
Carried forward
Depreciation
Brought forward
Disposals
Carried forward
Net book value
At 31 December 2022
At 31 December 2021		 Computer
equipment
£
5,299
(5,299)
-
5,299
(5,299)
-
-
-

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

19

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

9 Debtors

ebtors
Prepayments
Debtors and accrued income		 2022
2021
£
£
103,005
25,988
25,677
22,221
128,682
48,209

10 Creditors: amount falling due within one year

Creditors
Deferred income
Accruals		 2022
2021
£
£
13,372
29,276
129,288
126,754
145,821
96,083
288,481
252,113

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 2022		 Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
-
-
-
638,867
83,600
722,467
(288,481)
-
(288,481)
350,386
83,600
433,986

Comparative

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

20

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

12 Movements in funds

Movements in funds
Unrestricted general fund
Restricted funds:-
Artist in Training
Natural Play Project
Rebuilding Bridges
HAF
CIL Funds
Fortune Green Capital Project
Play Provider Funds		 At 1 January
2022
Incoming
Resources
Resources
Expended
Transfers
At 31
December
2022
£
£
£
£
£
451,888
1,455,639
(1,556,065)
(1,076)
350,386
2,250
10,733
(3,948)
-
9,035
-
4,726
(2,479)
-
2,247
-
80,329
(44,789)
-
35,540
-
79,871
(73,398)
-
6,473
-
18,782
-
-
18,782
-
32,009
(33,085)
1,076
-
-
16,331
(4,808)
-
11,523
2,250
242,781
(162,507)
1,076
83,600
454,138
1,698,420
(1,718,572)
-
433,986

Artist in Training

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

Natural Play Project

This fund, provided by Children in Need, is ringfenced for natural play activities such as Bushcraft.

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”.

13 Comparative movements in funds

Unrestricted general fund
Restricted funds:-
Artist in Training
Natural Play Project
Rebuilding Bridges		 At 1 January
2021
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

21

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

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		 2022
£
(20,152)
(1,713)
(80,473)
36,368
(65,970)		 2021
£
19,459
(1,245)
8,367
(89,730)
116,311

16 Cash flows from investing activities

Interest Received
Net cash (used by)/provided from operating activities		 2022
£
1,713
1,713		 2021
£
1,245
1,245

17 Analysis of changes in net debt

Cash and Cash Equivalents
Cash		 At 1 January
2022
Cashflows
Non-Cash
Changes
At 31 December
2022
658,042
(64,257)
-
593,785
658,042
(64,257)
-
593,785

22

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

18 Comparative 2021 SOFA

Unrestricted /
Designated
Restricted
£
£
Incoming resources
Incoming resources from
charitable activities:-
Grants receivable
839,407
17,400
Contributions from parents
179,939
-
Other fees and contributions
166,090
-
Other Income
32,359
-
_
_
Total incoming resources
1,217,795
17,400
_
_
Resources expended
Charitable activities:-
•
Early years
•
Play provision
•
Short breaks
•
Mentoring
284,133
692,138
86,584
130,247
-
12,173
-
10,461
_
_
Total resources expended
1,193,102
22,634
_
_
Income less expenditure
24,693
(5,234)
Transfers
(1,232)
1,232
_
_
Net movement in funds
23,461
(4,002)
Reconciliation of funds
Total funds brought forward
428,427
6,252
_
_
Total funds carried forward
451,888
2,250
_
_		 Total
2021
£
856,807
179,939
166,090
32,359
__
1,235,195
__
284,133
704,311
86,584
140,708
__
1,215,736
__
19,459
-
__
19,459
434,679
__
454,138
__

23