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2023-07-31-accounts

Page
Legal and administrative details
Trustees'
report		 2-5
Independent
Auditor's		 report 6-7
Statement offinancial activities
Balance sheet
Statement of cash flows 10
Notes to the financial statements 11-19
Trustees Sr. Norma
Kirkby
Primrose
Campbell		 Chair
Annabel
Clarkson
Matthew
Farrell		 Treasurer
Valerie Stapleton
Chief Executive ONcer & Principal Darren Coghlan
Registered charity number 1157639
Principal and registered oNce 281Jamaica Road
Bermondsey
LONDON SE164RS
Independent auditor Cocke, Vellacott & Hill
Chartered
Accountants
Unit 28 City Business Centre
Lower Road
LONDON SE162XB
Banks Lloyds TSBpic
67Tower Bridge Road
Bermondsey
LONDON SE14TN
Financial Adviser Leagold
Miller
127Station Road
Chingford
LONDON
E4 6AG

General Designated Unrestricted Unrestricted
funds funds funds funds
2023 2023 2023 2022
Notes f f f
Income from:
Donations
and legacies
—Donations 640 640 1,000
Charitable
activities
-Contracts for educational services, grants, etc. 835,431 835,431 676,193
—Activities
in furtherance		 ofthe charity's objects 392,325 392,395 332,259
Other trading
activities
- Fundraising
events
Investment
income		 46,777 46,777 48,463
Total 1,228,396 46,777 1,275,173 1,058,487
Expenditure
on:
Raising funds 7 (5,573) (5,573) (5,415)
Charitable
activities		 8 (1,503,496) (1,503,496) (1,307,498)
Total (1,503,496) (5,573) (1,509,069) (1,312,913)
Net income/(expenditure) before transfers (275,100) 41,204 (233,896) (254,426)
Gross transfers
between		 funds
Other recognised
gains/losses
Fair value adjustments on investment property
Net movement
in funds		 (275,1001 41,204 (233,896) (254,426)
Reconciliation
offunds
Total funds brought
forward		 18 493,234 4,738,557 5,231,791 5,486,217
Total funds carried forward 18 218,134 4,779,761 4,997,895 5,231,791
2023 2022
Notes
Fixed assets
Tangible assets
investments		 12
13		 2,033,391
950,000		 2,043,708
950,000
Total fixed assets 2,983,391 2,993,708
Current assets
Debtors 182,080 71,023
investments 15 1,196,351 1,686,182
Cash at bank and in hand 155 16 673,097 543,571
Total current assets 2,051,528 2,300,776
Liabilities
Creditors: amounts falling
due within one year 17 )37,024) (62,693)
Net current assets (liabilities) 2,014,504 2,238,083
Total assets less current liabilities 4,997,895 5,231,791
The funds ofthe charity:
Unrestricted
income		 funds
General
fund		 18 218,134 493,234
Designated
funds		 4,779,761 4,738,557
Total charity funds 4,997,895 5,231,791

2023 2022
Notes f
Cash flows from operating activities:
Net income/(expenditure) for the year (as per the
statement
offinancial
activities)		 (233,896) (254,426)
Adjustments for:
Depreciation
charges		 37,995 42,957
Net book value ofasset on disposal 1,457
Interest and rents from investments (46,777) (49,035)
(Increase) in debtors (111,057) (28,255)
Decrease in creditors (25,669) (7,904)
Net cash provided
by operating
activities		 (379,404) (295,206)
Cash flows from investing activities:
Interest and rents from investments 46,777 49,035
Purchase oftangible assets (27,678) (15,509)
Net cash provided
by investing
activities		 19,099 33,526
Net decrease in cash and cash equivalents (360,305) (261,680)
Cash and cash equivalents b/f 2,229,753 2,491,433
Cash and cash equivalents at the end ofthe year 16 1,&69,448 2,229,753

3. Donations Unrestricted Unrestricted Unrestricted 2023 2022
General General Designated Total Total
funds funds funds
Nursery
&		 Diamond
Clubs Project &
Apprenticeships f f f
Individuals 640 640 1,000
Contracts for educational services, grants and etc
Unrestricted Unrestricted Unrestricted 2023 2022
General General Designated Total Total
funds funds funds
Nursery & Diamond
Clubs
f		 Project
f		 f f f
Education Funding Agency 626,863 626,863 401,564
London Borough ofSouthwark
High Needs grant 173,255 173,255 221,039
16-19Vulnerable Student Bursaries 2,400 2,400 2,400
London Borough of Lewisham 51,190
London Borough of Lambeth 32,913 32,913
835,431 835,431 676,193
5. Activities in furtherance of Unrestricted Unrestricted Unrestricted 2023 2022
the charity's objects General General Designated Total Total
funds funds funds
Nursery
&		 Diamond
Clubs Project
f f
Southwark Council
Nursery Free Early Education Grant 84,502 84,502 65,566
Nursery fees 242,065 242,065 216,573
326,567 326,567 282,139
Grant from InspiED 3,000 3,000
Youth Centre subscriptions
Housing
—rental income *		 25,252 2,445 25,252
2,445		 18,529
7,617
Hall hire 225 225
Boscoffee 34,836 34,836 23,974
351,819 40,506 392,325 332,259
6. Investment
income		 Investment
income		 Investment
income		 Unrestricted Unrestricted Unrestricted Unrestricted 2023 2022
General General Designated Total Total
funds funds funds
Nursery & Diamond
Interest receivable from: Clubs
f		 Project
f		 f f f
Cater Allen 1 9,215 9,215 4,748
Shawb rook 2,273 2,273 4,670
Manchester
Building Society 2		 996 996 406
Virgin Money 83 83 143
Julian Hodge Bank 848
12,567 12,567 10,815
Income from Investment propety
Rental income 34,210 34,210 38,220
46,777 46,777 49,035
The above interest receivable is from short term deposits with the various banks and building societies named.
Rent receivable is from the investment property located at 202 Rotherhithe Street, London SE16,as shown
in
note 13.
7 Cost of raising funds Unrestricted Unrestricted Unrestricted 2023 2022
General General Designated Total Total
funds funds funds
Nursery & Diamond
Investment
property - BOSCO		 Lodge: Clubs
f		 Project
f		 f f f
Rent, rates and service charge 1,906 1,906 1,550
Repairs and maintenance 1,276 1,276 646
Depreciation on Lodge equipment 701 701 934
Investment adviser's fees 1,690 1,690 2,285
5,573 5,573 5,415
Unrestricted Unrestricted Unrestricted Unrestricted 2023 2022
General General Designated Total Total
funds funds funds
Nursery
&		 Diamond
Clubs Project
f		 f f
Staff costs (see note 9) 256,050 764,607 1,020,657 913,897
Subcontractors
and		 supply teachers (see note 9) 4,280 5,123 9,403 10,313
Staff training 1,774 1,774 5,432
Teaching supplies 4,619 8,780 13,399
Youth club costs 26,663 26,663
Light and heat 13,457 31,399 44,&56 20,658
Cleaning
and waste		 management 1,426 1,425 2,851 3,184
Consumables,
repairs and maintenance		 9,166 27,497 36,663 23,988
Printing,
postage and stationery		 4,091 12I274 16,365 17,207
Advertising
and recruitment		 3,960 4,787 8,747 6,375
Telephone 4,822 4,821 9,643 6,221
City 8 Guild Certificates, etc 13,025 13,025 12,627
Insurances 4,601 4,600 9,201 8,851
Travelling 2,1&0 8,721 10,901 9,150
Outings
and celebrations		 3,688 3,688 7,376 32,881
Legal and professional
External reviewers and specialist staff 19,177 57,532 76,709 47,780
ITand software costs 5,131 20,343 25,474
Subscriptions 1,&27 5,479 7,306 33,644
Boscoffee 43,748 43,748 24,192
Lunches and teas 21,604 4,148 25,752 29,794
Trainee allowances 25,298 25,298 33,200
General expenses 830 2,492 3.322 2,141
Health
and safety		 5,446 5,447 10,893 12,094
Donations 2,876 2,876
Depreciation 13,491 23,803 37,294 42,023
(Gains)/ loss on disposal ofassets (1,344)
3&7,332 1,102,864 1,490,196 1,294,308
Governance
costs
Legal and professional 3,060 3,060 2,500
Auditors fees - non audit work 1,200 1,800 3,000 3,500
Auditors fees - audit work 2,060 5,180 7,240 7,190
3p260 10,040 13,300 13,190
390,592 1,112,904 1,503,496 1,307,498

Unrestricted Unrestricted Unrestricted Unrestricted 2022
General General Designated Total
funds funds funds
Nursery
&		 Diamond
Clubs project
Staff costs (see note 9) 261,005 652,892 913,897
Subcontractors
and supply teachers {see		 note 9) 1,461 8,852 10,313
Staff training 5,432 5,432
Light and heat 6,197 14,461 20,658
Cleaning
and waste management		 1,592 1,592 3,184
Consumables,
repairs and maintenance		 5,997 17,991 23,988
Printing,
postage and stationery		 4,302 12,905 17,207
Advertising
and recruitment		 1,275 5,100 6,375
Telephone 3.111 3,110 6,221
City 8 Guild Certificates, etc 12,627 12,627
Insurances 4,426 4,425 8,851
Travelling 1,830 7,320 9,150
Outings
and celebrations		 16,440 16,441 32,881
Legal and professional
External reviewer,
legal and prof. fees		 9,556 38,224 47,780
Provisions
Subscriptions 8,411 25,233 33,644
Boscoffee 24,192 24,192
Lunches and teas 19,569 10,225 29,794
Trainee allowances 33,200 33,200
General expenses 535 1,606 2,141
Health
and safety		 6,047 6,047 12,094
Depreciation 14,990 27,033 42,023
(Gains)/ loss on disposal ofassets (1,344) (1,344)
366,744 927,564 1,294,308
Governance
costs
Legal and professional 2,500 2,500
Auditor's fees - non audit work 1,400 2,100 3,500
Auditor's fees - audit work 2,000 5,190 7,190
3,400 9,790 13,190
370,144 937,354 1,307,498

Employees
Number ofemployees
The average
monthly		 numbers ofemployees 2023 2022
(including the trustees) during the year were: Number Number
Nursery
&Clubs		 12 12
Diamond
Project &Apprenticeship		 Tutors 18 14
Administrators
and Quality Assurance		 3 3
Youth worker 1 1
Maintenance
&cleaning		 3 3
37 33
Trustees 6 6
39
Year Year
Charitable ended ended
activities
f		 2023
f		 2022f
Wages and salaries 927,280 927,2&0 827,486
Social security costs 75,130 75,130 69,617
Nest pension costs 18,247 18,247 16,794
Total staff costs 1,020,657 1,020,657 913,897
Other costs:
Administrative
support		 5,123 5,123
Diamond
Project subcontractors		 and supply teachers 76,709 76,709 8,852
Nursery
—Subcontractors		 and supply staff 4,280 4,280 1,461
Total staff costs (including subcontractors &supply staff) 1,106,769 1,106,769 924,210

Fixtures,
12. Tangible fixed assets Freehold Nursery fittings and Motor
property
f		 playground
f		 equipment
f		 vehicles
f		 Total
f
Cost
At 1August 2022 1,8254000 185,057 381,610 22,937 2,414,604
Additions 27,678 27,678
Disposals
At 31July 2023 1,&25,000 185,057 409,288 22,937 2,442,282
Depreciation
At 1August 2022 50,151 308,964 11,781 370,896
On disposals
Charge for the year 13,491 21,715 2,789 37,995
At 31July 2023 63,642 330,679 14,570 408,891
Net book values
At 31July 2023 1,825,000 121,415 78,609 8,367 2,033,391
At31July 2022 1,825,000 134,906 72,646 11,166 2,043,708
The freehold
property		 has been included at its purchase price as at 4September 2014.
13. Fixed asset investment property Investment
property
f
Cost or valuation
At 1August 2022 and at 31July 2023 950,000
Net book values
At 31July 2023 950,000
At31Ju/y 2022 950,000
Historical cost: As at 31July 2023 237,688
Historical cost: As at31Ju/y2022 237,688
14. Debtors 2023 2022
f f
Trade debtors 169,660 54,596
Other debtors 145 475
Prepayments and accrued income 12,275 15,952
182,080 71,023
15. Current asset investments
2023
f		 2022f
Bank/ building society and other deposits 1,196,351 1,686,182
16 Cash and cash equivalents 2023
f		 2022f
Bank/ building society and other deposits 1,196,351 1,686,182
Cash at bank and in hand 673,097 543,569
1,869,448 2,229,751
17. Creditors: amounts
falling due
within one year 2023
f		 2022f
Pension payable 1,579 756
Other taxes and social security costs 18,856 18,294
EFSA clawback 29,357
Accruals and deferred income 16,589 14,286
37,024 62,693
18. Unrestricted income funds
General Designated Total
funds funds funds
1August 2022 493,234 4,738,557 5,231,791
Income 1,228,396 46,777 1,275,173
Expenditure (1,503,496) (5,573) (1,509,069)
Fair value adjustments
Transfers
31July 2023 218,134 4,779,761 4,997,895

Analysis of net assets between
funds
Unrestricted Unrestricted Total
General Designated Unrestricted
funds funds funds
f f f
Fund balances at 31July 2023 are represented by:
Tangible fixed assets 2,033,391 2,033,391
Investment assets 950,000 950,000
Net current assets 255,158 1,796,370 2,051,528
Current liabilities (37,024) (37,024)
218,134 4,779,761 4,997,895