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2023-12-31-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 2023

CONTENTS

Page
Reference and Administrative Details of the
Charity, its Trustees and Advisers 1
Trustees’ Report 2 - 10
Independent Auditors’ Report 11 - 13
Statement of Financial Activities 14
Balance Sheet 15
Statement of Cashflows 16
Notes to the Financial Statements 17 - 24

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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 - resigned 31stMarch 2024)
C Dishington (Treasurer - Chair as of 31stMarch 2024)
K Oak (Treasurer - appointed 27thSep 2023)
J Mann
S Hug Williams
S Balogun (appointed 8thFeb 2023 - resigned 14thNov 2023)
K Balogun (appointed 17thMay 2024)
Key management personnel 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 2023

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 2023. 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 three 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

2

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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.

3

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Operational Review

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 2023, we continued to receive high levels of user satisfaction.

Camden Square Playcentre has not received a visit from Ofsted since its May 2022 visit, the first visit since joining PACE in 2019. From the 2022 visit, Camden Square Playcentre achieved a rating of “met all requirements”.

Fortune Green Playcentre and Early Years was last visited by Ofsted in October 2022 and achieved a “good” rating.

Furthermore, Fortune Green received some fantastic feedback from the validation panel at Bristol - Early Years regarding their Bristol Standards assessment (https://www.bristolearlyyears.org.uk/the bristol-standard/). The validation team wrote that Fortune Green submitted ‘an exceptionally strong submission with much to be celebrated’ and are now using Fortune Green’s submission as a training case study for other centres, as an example of best practice in how to submit evidence.

In November 2022, Fairfield Playcentre received an unannounced Ofsted visit and received a rating of “inadequate”. The follow-up visit in April 2023, resulted in the an upgraded rating of “good”. During 2023, there have been a number of significant improvements implemented across many areas within the preschool and playcentre. However, in order to achieve these improvements, the hours of delivery were reduced, and unfortunately, the preschool experienced a significant loss of income in 2023. The preschool has subsequently returned to standard operating hours and further improvements are ongoing and levels of income are increasing.

PACE continue to deliver Out of School Childcare and Play Services commissioned by Camden Council, contracted until August 2024, with a likelihood of extending for two more years. This extension is yet to be confirmed as of 12[th] July 2024.

Ancillary weekend services focused on visual arts and natural play recommenced during 2023, 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 2023 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 855 spaces (764 in 2022) 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.

4

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

In 2024 we aim to continue 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. Another apprentice completed their studies in February 2023 and is now not only employed as a permanent member of staff, but also received:

  1. The award for ‘Best Apprentice working in the Supply Chain’ at the London Borough Apprenticeship Awards 2023 (London Councils press releases)

  2. The award for ‘Winner of Best Progression by an Apprentice’ at The Camden Apprenticeship Awards 2023 (Camden Council press releases).

In addition to this, their manager was also awarded ‘Winner of Supervisors of the Year’ at The Camden Apprenticeship Awards 2023.

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

Drop-in services were open at all three playcentres, with lots of new users attending, many of whom have gone on to register their children for preschool services at our preschools.

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.

We continue to deliver short 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 2024. With our partner WacArts, PACE successfully tendered for a 3-year contract (2022-25) for delivery of short breaks for Camden Council, and is now in discussions for

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

continuing the service into 2026. In this 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 and is continuing until March 2025. PACE are currently looking for funding to continue past that date.

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:

As mentioned, this project was extended for another three years due to its successful impact in 2022, with the grant coming from the Department of Education and commissioned by Camden Council.

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.

6

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Financial review

In 2023 PACE’s deficit of £84,564 (2022 deficit: £20,152) decreased the level of total reserves to £349,422 (2022: decreased to £433,986) due to increased levels of operating costs, and a significant loss of income at Fairfield Preschool.

Incoming resources for the year increased to £1,771,198 (2022: £1,698,420). The Rebuilding Bridges project had grown significantly from the previous year, and the HAF program programme continued at the same rate. PACE continued to operate and deliver to high level in all other areas apart from Fairfield Preschool, where it was decided to reduce the service while staff and managers made improvements to the facilities and service quality. As note above, this effort produced a positive turnaround in Ofsted’s second visit, however the reduced service resulted in reduced income levels that have only begun to recover in 2024.

Expenditure increased to £1,855,762 (2022: £1,718,572) mostly due to a new online booking system, enhanced IT security, and from external consultants fees in response to the Ofsted report of November 2022.

As at the end of 2023, PACE’s unrestricted reserves are £214,901 (2022: £350,386) which represents two and a quarter months of unrestricted operating costs (2022: just under three 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 financial impact of the Fairfield Ofsted report and the preschool’s recovery in 2024, 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 steadily increased again in 2024 and is forecast to be in accordance with the reserves policy (Year-end December 2024 forecast is surplus of £88,000 as of June 2024).

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 2023

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 2024. 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 2023

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. To mitigate against this risk, we continually strive 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.

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.

9

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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.

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 27th September 2024 and signed on their behalf by:-

Claire Dishington (Chair)

Kunal Oak (Treasurer)

10

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2023

Opinion

We have audited the financial statements of Play Adventures & Community Enrichment (the ‘charitable company’) for the year ended 31 December 2023 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.

11

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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.

21 October 2024

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

13

PLAY ADVENTURES & COMMUNITY ENRICHMENT STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes Unrestricted /
Designated		 Restricted Total
2023		 Total
2022
£ £ £ £
Incoming resources
Incoming resources from charitable activities:-
Grants receivable 841,149 243,945 1,085,094 985,523
Contributions from parents 334,022 - 334,022 326,731
Other fees and contributions 314,807 31,299 346,106 357,119
Other Income 5,976 - 5,976 29,047
Total incoming resources 2 1,495,954 275,244 1,771,198 1,698,420
Resources expended
Charitable activities:-
•
Early years		 361,017 2,484 364,501 339,260
•
Play provision		 1,039,238 35,126 1,074,364 1,079,201
•
Short breaks		 101,915 - 101,915 100,708
•
Mentoring		 211,907 103,075 314,982 199,403
Total resources expended 3 & 4 1,715,077 140,685 1,855,762 1,718,572
Income less expenditure (219,123) 134,559 (84,564) (20,152)
Transfers 83,638 (83,638) - -
Net movement in funds (135,485) 50,921 (84,564) (20,152)
Reconciliation of funds
Total funds brought forward 350,386 83,600 433,986 454,138
Total funds carried forward 214,901 134,521 349,422 433,986

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The notes on pages 17 to 24 form part of these financial statements.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT BALANCE SHEET AS AT 31 DECEMBER 2023

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		 2023
£
£
-
98,289
501,434
599,723
(250,301)
349,422
349,422
214,901
134,521
349,422		 2023
£
£
-
98,289
501,434
599,723
(250,301)
349,422
349,422
214,901
134,521
349,422		 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
599,723
(250,301)		 722,467
(288,481)
214,901
134,521		 350,386
83,600
349,422 433,986
433,986
349,422

These financial statements were approved and authorised for issue by the Board of Trustees on 27[th] September 2024 and signed on their behalf by:-

Kunal Oak – Treasurer Claire Dishington – Chair

Registered company number: 07758246 (England and Wales) The notes on pages 17 to 24 form part of these financial statements

15

PLAY ADVENTURES & COMMUNITY ENRICHMENT STATEMENT OF CASHFLOWS AS AT 31 DECEMBER 2023

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		 2023
£
(92,351)
-
(92,351)
(92,351)
593,785
501,434		 2022
£
(65,970)
1,713
(64,257)
(64,257)
658,042
593,785

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PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 2023

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:-

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

ncoming resources
Charitable Activities
Grants receivable
Contributions from parents
Other fees and contributions
Other income		 Unrestricted
2023
Restricted
2023
Total
2023
Total
2022
£
£
£
£
841,149
243,945
1,085,094
985,523
334,022
-
334,022
326,731
314,807
31,299
346,106
357,119
5,976
-
5,976
29,047
1,495,954
275,244
1,771,198
1,698,420

Restricted grants are shown in Note 12.

3 Charitable Activities

haritable Activities
Charitable Activities
Early years
Play provision
Short breaks
Mentoring		 Unrestricted
2023
Restricted
2023
Total
2023
Total
2022
£
£
£
£
361,567
2,484
364,501
339,260
1,039,584
35,126
1,074,710
1,079,201
101,915
-
101,915
100,708
212,011
103,075
315,086
199,403
1,715,077
140,685
1,855,762
1,718,573

18

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4 Analysis of Charitable Activities

ysis of Charitable Activities
Early Years
Play Provision
Short Breaks
Mentoring
Total		 Direct
Costs
£
308,706
867,798

88,347
244,788
1,509,639
 Support
Costs
£
55,795
206,566

13,568
70,194
346,123
 Total
£
364,501
1,074,364
101,915
314,982
1,855,762

5 Support Cost Allocation

Staffing costs
Operating costs
Facilities costs
Infrastructure costs
Finance costs
Other costs
Total		 Early Years
£
32,958
2,879
2,334
7,985
2,920
6,719
55,795		 Play
Provision
£
122,016
10,659
8,643
29,563
10,809
24,876
206,566		 Short
Breaks
£
8,014
700
568
1,942
710
1,634
13,568		 Mentoring
£
41,463
3,622
2,937
10,046
3,673
8,453
70,194		 Total
£
204,451
17,860
14,482
49,535
18,112
41,683
346,123

Included in Support Costs are £10,070 of Governance Costs (2022: £5,852). Costs are allocated directly to the activities to which they relate using a proportion of income.

6 Governance costs (included in Note 5)

Auditors’ remuneration
Trustees’ expenses		 2023
2022
£
£
6,348
5,653
3,722
229
10,070
5,852

Trustee’s expenses for 2023 include Trustee training costs of £2,650 (2022: nil).

19

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7 Trustees and staff remuneration

The trustees received no remuneration (2022: £nil) but 1 Trustee received reimbursement of expenses totalling £104 (2022: 1 Trustee received a total of £27).

Staff remuneration and numbers

taff remuneration and numbers
Total Total
2023 2022
£ £
Wages and salaries 1,316,681 1,203,676
Social Security costs 89,135 84,488
Pension costs 53,729 44,566
1,459,545 1,332,730
Wages and Salaries includes pension costs.
The average number of full and part-time employees during the year were as follows:
2023 2022
125 122

No employees received emoluments of more than £60,000 per annum (2022: none). Senior Management Personnel costs amounted to £52,611 (2022: £46,858).

8 Fixed assets

There are no fixed assets for 2023 (2022: nil).

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

20

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

9 Debtors

ebtors
Trade Debtors
Prepayments
Debtors and accrued income		 2023
2022
£
£
58,407
-
27,725
25,677
12,157
103,005
98,289
128,682

10 Creditors: amount falling due within one year

Creditors
Deferred income
Accruals		 2023
2022
£
£
14,921
13,372
69,404
129,288
165,976
145,821
250,301
288,481

11 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2023		 Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
-
-
-
465,202
134,521
599,723
(250,301)
-
(250,301)
214,901
134,521
349,422

Comparative

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

21

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

12 Movements in funds

Movements in funds
Unrestricted general fund
Restricted funds:-
Artist in Training
Natural Play Project
Rebuilding Bridges
HAF
CIL Funds
Play Provider Funds		 At 1 January
2023
Incoming
Resources
Resources
Expended
Transfers
At 31
December
2023
£
£
£
£
£
350,386
1,495,954
(1,715,077)
83,638
214,901
9,035
32,200
(7,278)
(4,561)
29,396
2,247
25,000
(7,667)
(2,613)
16,967
35,540
186,745
(103,074)
(49,191)
70,020
6,473
20,800
-
(27,273)
-
18,782
-
(2,484)
-
16,298
11,523
10,499
(20,182)
-
1,840
83,600
275,244
(140,685)
(83,638)
134,521
433,986
1,771,198
(1,855,762)
-
349,422

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”.

HAF

This fund, provided by The Department of Education and distributed by Camden Council, is to deliver free holiday sessions, including a free meal, to children during the Christmas, Easter and Summer holiday break.

22

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

13 Comparative 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

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		 2023
£
(84,564)
-
30,393
(38,180)
(92,351)		 2022
£
(20,152)
(1,713)
(80,473)
36,368
(65,970)

16 Cash flows from investing activities

Interest Received
Net cash (used by)/provided from operating activities		 2023
£
-
-		 2022
£
1,713
1,713

17 Analysis of changes in net debt

Cash and Cash Equivalents
Cash		 At 1 January
2023
Cashflows
Non-Cash
Changes
At 31 December
2023
593,785
(92,351)
-
501,434
593,785
(92,351)
-
501,434

23

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

18 Comparative 2022 SOFA

Unrestricted /
Designated
Restricted
£
£
Incoming resources
Incoming resources from
charitable activities:-
Grants receivable
857,726
127,797
Contributions from parents
326,731
-
Other fees and contributions
260,917
96,202
Other Income
10,265
18,782
_
_
Total incoming resources
1,455,639
242,781
_
_
Resources expended
Charitable activities:-
•
Early years
•
Play provision
•
Short breaks
•
Mentoring
339,260
961,483
100,708
154,614
-
117,718
-
44,789

_
_
Total resources expended
1,556,065
162,507
_
_
Income less expenditure
(100,426)
80,274
Transfers
(1,076)
1,076
_
_
Net movement in funds
(101,502)
81,350
Reconciliation of funds
Total funds brought forward
451,888
2,250
_
_
Total funds carried forward
350,386
83,600
_
_		 Total
2022
£
985,523
326,731
357,119
29,047
__
1,698,420
__
339,260
1,079,201
100,708
199,403
__
1,718,572
__
(20,152)
-
__
(20,152)
454,138
__
433,986
__

24