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2024-12-31-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 2024

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 2024

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
J Mann
S Hug Williams
K Balogun (appointed 17thMay 2024)
Key management personnel Jamie Dippie (Chief Operating Officer resigned 31st August
2024
Kelly Reynolds (Head of Operational Development –
appointed 14th Feb 2025)
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

1

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024. 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 to three months, and Board members also correspond with each other electronically and by telephone between Board meetings. Extraordinary meetings take place as and when necessary to make decisions on 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. They regularly review the form and structures under the Charity Commission guidance. 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 2024

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

Out of School Childcare and Play Services

Our Out of School Childcare and Play Services offer children exciting, activity-packed experiences before and after school, and during the holidays. From sports, arts, natural play, and imaginative free play, to off-site adventures and social games, there’s always something fun and accessible to do. Based at Fairfield, Fortune Green, and Camden Square Playcentres, our programmes provide safe, welcoming spaces where children can play, make friends, and explore new interests; while providing working parents, students, and carers with additional support pathways, addressing the needs of the whole family and community. We currently care for 1,713 children and this increases each week. Of this current cohort, 492 have external funding in place for their complex needs, disability or profound social need such as poverty or unstable housing. We’re proud to welcome children from diverse backgrounds, representing the London community we have always served. Our programmes are accessible, and we actively create projects for children with complex needs/disabilities and/or care plans who have targeted needs.

In 2024 our Autumn Parental Consultation Survey showed continued high satisfaction from families. We enjoy strong links with the local community/stakeholders, and employ a highly experienced staff team who have lived experience of the wide array of disadvantages and complex needs, many of our children face. Many of our staff were born and raised in Camden and have been part of the PACE family since their early years as beneficiaries, now becoming confident trained staff.

During the 2024 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 1,020 spaces for children on free school meals, with each child accessing 16 hours of provision each eligible holiday week, for 6 eligible weeks of the 13 week school holiday period. This included accessible sports, free play, cooking and nutritional education, with lunch and snacks provided. Many families would not have been able to cope without the HAF provision allowing their children to have dignified play experiences while they worked, studied, addressed health concerns, or experienced some respite, and we are extremely grateful for the continuation of this programme.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Following changes in the Senior Management Team, Camden Square Playcentre said farewell to its long-standing Centre Manager in November 2024. Since its last planned Ofsted visit in May 2022, where it achieved a ‘met all requirements’ rating, the centre underwent a more recent Ofsted inspection in June 2025. We have implemented targeted improvements in response to the feedback and are actively working toward reinstating this status.

Fortune Green Playcentre and Early Years was last visited by Ofsted in October 2022 and achieved a “good” rating, and Fairfield achieved this status in June 2023.

Throughout 2024 and beyond, we continued our commitment to maintaining and improving quality services through engagement in the Bristol Standard quality improvement framework (https://www.bristolearlyyears.org.uk/the-bristol-standard/), which supports staff development and assists in quality measurement and recognition with Ofsted. The validation team wrote that Fortune Green submitted ‘an exceptionally strong submission with much to be celebrated’.

We are also very focused on professional development for our staff team and are empowering our employees with as many training opportunities as possible. This not only strengthens the capacity of PACE, but also the whole play sector.

PACE continue to deliver Out of School Childcare and Play Services commissioned by Camden Council, contracted until August 2026. The focus for 2025 is to ensure that the organisation is in a stable position to continue to deliver our exceptional high quality services, building up other funding streams during this time and beyond.

Early Years Services

PACE proudly offers high-quality early years education for infants (0–2) and preschoolers (2–4) at Fairfield Playcentre, alongside our thriving preschool at Fortune Green. Our nurturing, play-based approach helps every child grow in confidence, curiosity, and independence—laying the foundations for lifelong learning and a strong sense of belonging. The number of children attending our provision is going from strength to strength.

Our popular Drop-in sessions welcome parents and carers with under-5s to enjoy storytelling, singalongs, arts and crafts, and natural play. These friendly sessions help families connect, reduce isolation, and support children’s development, while also offering practical help—from referrals to local services to access to our mini food banks. Many families begin their PACE journey here, progressing from Drop-ins to preschool and beyond.

At Fortune Green, our award-winning apprenticeship scheme continues to train and inspire the next generation of early years professionals, now expanded to include Fairfield and our central PACE team—several graduates are now valued permanent staff members.

Fairfield Playcentre also plays a vital role in supporting children with special educational needs and complex needs. Through tailored interventions and close partnership with families, the team provides compassionate guidance throughout diagnosis and beyond, becoming a true lifeline for many in the local community.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Short Breaks – Overnights and Get Active Saturday Club

Our Short Breaks Overnight programme provides fun, 24-hour residential experiences for children with complex needs and disabilities, while giving families valuable respite. For many children, it’s their very first sleepover—an opportunity to spend a night away from home in small groups, enjoy exciting activities, make friends, and build independence. This unique programme is based at our Fortune Green Playcentre .

Our Short Breaks Get Active programme offers children with complex needs a vibrant Saturday club focused on physical play and sports. While many sports clubs aren’t accessible to these children, Get Active creates an inclusive space where they can enjoy active fun, develop motor and communication skills, and experience the joy of teamwork.

In partnership with Wac Arts , PACE has successfully extended this vital service provision through 2026, with discussions underway to continue even further.

Mentoring Services

1:1 Key-Working Service

PACE’s daytime 1:1 Key-Working Service supports children and young people from Camden and neighbouring boroughs who are excluded, at risk of exclusion, or struggling with emotional-based school avoidance (EBSA) or NEET status. Commissioned by schools, pupil referral units, and children’s services, our experienced key-workers—specialists in play and youth work—deliver tailored programmes of educational, creative, and physical activities. These sessions help young people build confidence, develop social and life skills, improve emotional wellbeing, and successfully reintegrate into education.

Rebuilding Bridges Project

Originally a partnership between Camden Council, PACE, and CAMHS—funded by the Department for Education’s Respite Innovation Fund —the programme completed its third year in March 2025. Its success has inspired replication across the UK. During 2024 the programme continued to offer enjoyable, therapeutic activities and holistic family support through:

PACE’s approach continues to achieve outstanding outcomes and user satisfaction, with the Department for Education recognising it as a model of best practice. In Sept 2025 PACE secured an extended 3 year contract with Camden Council to deliver the Rebuilding Bridges Project one-to-one mentoring support during school hours. PACE are currently looking for new sources of funding to continue the small group support work for children/young people after school and during school holidays, as we consider this offering a vital provision within our community.

5

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

Like many in the Voluntary and Community childcare sector, PACE continues to navigate the lasting financial and workforce challenges of the post-Covid, post-Brexit economy. Despite these pressures, we remain a highly regarded employer within Camden, offering above-Living Wage salaries and strong professional training and professional development opportunities.

While recruitment remains a challenge, our service delivery and beneficiary numbers have held steady across all centres. We have managed a third consecutive year of a small, controlled deficit—reflecting rising operational costs and growing demand, particularly from families with children who have complex needs.

Operating from Council-owned buildings, we continue to self-fund essential maintenance and upgrades, directing fundraising efforts toward capital improvements. Though reserves have been used strategically to maintain stability through leadership changes and sector-wide strain, PACE remains financially secure, resilient, and focused on recovery in 2025 with reviewing our support and governance costs, and in 2026 looking at our model for growth. We anticipate a return to surplus and stronger growth by 2026 as the broader economic environment continues to stabilise.

In 2024 PACE’s deficit of £68,571 (2023 deficit: £84,564) decreased the level of free unrestricted reserves to £148,290 (2023: £214,901) due to increased levels of operating costs and staffing costs associated with the rise of inflation.

Incoming resources for the year increased to £1,849,951 (2023: £1,771,198). The Youth Connections Programme (formally the Rebuilding Bridges project) has grown significantly from the previous year, and continues to do so in 2025 along with Spot Purchases. The HAF programme continued at the same rate.

Expenditure increased to £1,918,522 (2023: £1,855,762) as mentioned above; the continued increases in operating costs, as well as the use of consultants to help with embedding new systems and practices and in response to Ofsted changes in legislation.

Trade debtors increased year on year £51,942, largely due to invoicing income in advance, which is also reflected in our Deferred Income increase of £159,349.

As at the end of 2024, PACE’s unrestricted reserves of £148,290 and restricted reserves of £132,561 total £280,851 (2023: £349,422) which represents one and three quarters of unrestricted and restricted operating costs (2023: two and a quarter 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.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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 remained steady during in 2025. As of October 2025, total reserves were £263,929, with cash of £631,120 compared to cash of £486,820 in December 2024. In the year 2025 the Board of Trustees made the decision to extend the 2025 period to 15 months.

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:

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 believe 2025 is a period of transition and sustainability, and has a defined focus of identifying the opportunities, challenges and risks for the organisation, we will be prioritising:

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PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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:

8

PLAY ADVENTURES & COMMUNITY ENRICHMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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 21st November 2025 and signed on their behalf by:-

Claire Dishington (Chair)

Kunal Oak (Treasurer)

9

Independent Auditors’ Report to the Members of Play Adventures & Community Enrichment FOR THE YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of Play Adventures & Community Enrichment (the ‘charitable company’) for the year ended 31 December 2024 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 2024

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 2024

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.

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

London EC3A 2AD

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PLAY ADVENTURES & COMMUNITY ENRICHMENT STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Notes Unrestricted /
Designated		 Restricted Total
2024		 Total
2023
£ £ £ £
Incoming resources
Incoming resources from charitable activities:-
Grants receivable 888,049 259,632 1,147,681 1,085,094
Contributions from parents 385,739 - 385,739 334,022
Other fees and contributions 290,691 - 290,691 346,106
Other Income 27,168 (1,328) 25,840 5,976
Total incoming resources 2 1,591,647 258,304 1,849,951 1,771,198
Resources expended
Charitable activities:-
Early years 385,832 - 385,832 364,501
Play provision 1,064,080 65,921 1,130,001 1,074,364
Short breaks 60,752 28,036 88,788 101,915
Mentoring 147,594 166,307 313,901 314,982
Total resources expended 3 & 4 1,658,258 260,264 1,918,522 1,855,762
Income less expenditure (66,611) (1,960) (68,571) (84,564)
Transfers - - - -
Net movement in funds (66,611) (1,960) (68,571) (84,564)
Reconciliation of funds
Total funds brought forward 214,901 134,521 349,422 433,986
Total funds carried forward 148,290 132,561 280,851 349,422

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.

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PLAY ADVENTURES & COMMUNITY ENRICHMENT BALANCE SHEET AS AT 31 DECEMBER 2024

----- Start of picture text -----
2024 2023
Notes £ £ £ £
Fixed assets 8 11,258 -
Current assets
Debtors 9 180,683 98,289
Cash in hand and in bank 487,011 501,434
667,694 599,723
Creditors: amounts falling due
within one period 10 (398,101) (250,301)
Net current assets 269,593 349,422
Net assets 280,851 349,422
Funds
Unrestricted fund 148,290 214,901
Restricted funds 132,561 134,521
Total funds 12&13 280,851 349,422
----- End of picture text -----

These financial statements were approved and authorised for issue by the Board of Trustees on 21[th] November 2025 and signed on their behalf by:-

Kunal Oak – Treasurer Claire Dishington – 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 2024

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		 2024
£
380
(14,803)
(14,423)
(14,423)
501,434
487,011		 2023
£
(92,351)
-
(92,351)
(92,351)
593,785
501,434

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PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 October 2026. 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 2024

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:-

All classes of fixed assets – straight line over 3 years

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
2024
Restricted
2024
Total
2024
Total
2023
£
£
£
£
888,049
259,632
1,147,681
1,085,094
385,739
-
385,739
334,022
290,691
-
290,691
346,106
27,168
(1,328)
25,840
5,976
1,591,647
258,304
1,849,951
1,771,198

Restricted grants are shown in Note 12.

3 Charitable Activities

haritable Activities
Charitable Activities
Early years
Play provision
Short breaks
Mentoring		 Unrestricted
2024
Restricted
2024
Total
2024
Total
2023
£
£
£
£
383,832
-
385,832
364,501
1,064,080
65,291
1,130,001
1,074,710
60,752
28,036
88,788
101,915
147,593
166,307
313,901
315,086
1,658,257
260,264
1,918,522
1,855,762

17

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4 Analysis of Charitable Activities

ysis of Charitable Activities
Early Years
Play Provision
Short Breaks
Mentoring
Total		 Direct
Costs
£
325,765
911,711
77,335
250,141
1,564,952		 Support
Costs
£
60,067
218,290
11,453
63,760
353,570		 Total
£
385,832
1,130,001
88,788
313,901
1,918,522

5 Support Cost Allocation

Staffing costs
Operating costs
Facilities costs
Infrastructure costs
Finance costs
Other costs
Total		 Early Years
£
36,139
7,643
2,091
8,612
3,914
1,668
60,067		 Play
Provision
£
131,334
27,777
7,598
31,298
14,223
6,060
218,290		 Short
Breaks
£
6,891
1,457
399
1,642
746
318
11,453		 Mentoring
£
38,361
8,113
2,219
9,142
4,154
1,770
63,760		 Total
£
212,725
44,991
12,307
50,694
23,037
9,816
353,570

Included in Support Costs are £8,664 of Governance Costs (2023: £10,070). 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		 2024
2023
£
£
6,773
6,348
1,891
3,722
8,664
10,070

Trustee’s expenses for 2024 include Trustee training costs of £1,620 (2023: £2,650).

18

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7 Trustees and staff remuneration

The trustees received no remuneration (2023: £nil) but 1 Trustee received reimbursement of expenses totalling £87(2023: 1 Trustee received a total of £104).

Staff remuneration and numbers

taff remuneration and numbers
Wages and salaries
Social Security costs
Pension costs		 Total
2024
Total
2023
£
£
1,383,423
1,316,681
99,532
89,135
55,692
53,729
1,538,647
1,459,545
The average number of full and part-time employees during the year were as follows: The average number of full and part-time employees during the year were as follows:
2024 2023
131 125

No employees received emoluments of more than £60,000 per annum (2023: none). Senior Management Personnel costs amounted to £39,755 (2023: £52,611).

8 Fixed assets

Cost
As at 1 January 2024
Additions
As at 31 December 2024
Depreciation
As at 1 January 2024
Charge for the year
As at 31 December 2024
NBV
As at 31 December 2024
As at 31 December 2023		 Computer
Equipment
-
14,803
14,803
-
3,545
3,545
11,258
-		 Total
-
14,803
14,803
-
3,545
3,545
11,258
-

19

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9 Debtors

ebtors
Trade Debtors
Prepayments
Debtors and accrued income		 2024
2023
£
£
150,231
58,407
30,452
27,725
-
12,157
180,683
98,289

10 Creditors: amount falling due within one year

Creditors
Deferred income
Accruals		 2024
2023
£
£
22,113
14,921
228,753
69,404
147,235
165,976
398,101
250,301

11 Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2024
omparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 December 2023		 Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
11,258
-
11,258
535,133
132,561
667,694
(398,101)
-
(398,101)
148,290
132,561
280,851
Unrestricted
Fund
Restricted
Funds
Total Funds
£
£
£
-
-
-
465,202
134,521
599,723
(250,301)
-
(250,301)
214,901
134,521
349,422

Comparative

20

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12 Movements in funds

12 Movements in funds
Unrestricted general fund
Restricted funds:-
Artist in Training
Natural Play Project
Rebuilding Bridges
CIL Funds
Play Provider Funds		 At 1 January
2024
Incoming
Resources
Resources
Expended
Transfers
At 31
December
2024
£
£
£
£
£
214,901
1,591,647
(1,658,258)
148,290
29,396
21,467
(50,863)
-
16,967
25,000
(15,059)
26,908
70,020
213,165
(194,342)
88,843
16,298
(1,328)
-
14,970
1,840
-
-
1,840
134,521
258,304
(260,264)
132,561
349,422
1,849,951
(1,918,522)
-
280,851

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”.

CIL Funds

Camden CIL funding funds our Under 5’s Drop-in programme across the 3 centres, which provides a welcoming and supportive environment where children can explore, play and learn alongside their parents and carers. These sessions offer a variety of engaging play-based and creative activities that promote children’s early development, including social, emotional and physical skills. The group also offer families a chance to connect with others, strengthening family and community bonds.

Play Provider Funds

Camden Play Providers Fund is designed to support families access children’s play, early learning and social activities, especially for younger age groups enabling them to access our Under 5’s Drop-in programme across the 3 centres.

Holiday Activities and Food

Funded through the Young Camden Foundation, the HAF programme

21

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13 Comparative 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

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
Depreciation
Decrease/(Increase) in debtors
(Decrease)/Increase in creditors and provisions
Net cash (used by)/provided from operating activities		 2024
£
(68,571)
-
3,545
(82,394)
147,800
380		 2023
£
(84,564)
-
30,393
(38,180)
(92,351)

16 Cash flows from investing activities

Interest Received
Purchase of fixed assets
Net cash (used by)/provided from operating activities		 2024
£
-
(14,803)
(14,803)		 2023
£
-
-
-

17 Analysis of changes in net debt

Cash and Cash Equivalents
Cash		 At 1 January
2024
Cashflows
Non-Cash
Changes
At 31 December
2024
501,434
(14,423)
-
487,011
501,434
(14,423)
-
487,011

22

PLAY ADVENTURES & COMMUNITY ENRICHMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18 Comparative 2023 SOFA

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

23

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