##
|||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|