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← Pimlico Family Workshop Toy Library

2024-03-31-accounts

Registered Charity Number 1157856

Pimlico Family Workshop Toy Library

Financial Statements For the year ended 31 March 2024

Contents

Charity Information 1
Trustees Annual Report 2
Independent Examination 10
Statement of Financial Activities 11
Balance Sheet 12
Notes 13

Charity Information Pimlico Toy Library

Charity name : Pimlico Family Workshop Toy Library, known as Pimlico Toy Library

Registered Charity Number : 1157856

Address : 133A Lupus Street Pimlico London SW1V 3EN

Trustees :

Alex Moyler Chair Kate Shrivastava Rashida Abdulai Jason Williams Dominic Barnard Treasurer Divya Hiremath Resigned January 2024 Andrew Downs

Co-ordinator Maggie Harper

Bankers

Barclays Bank Plc Westminster Branch 2 Victoria Street London SW1H 0ND

Independent Examiner

Heather Cheesman FCA Chichester Accounting 104 Stockbridge Road Chichester West Sussex PO19 8QP

1

Chair’s report

This report covers the year between 1st April 2023 and 31st March 2024.

PTL has had another wonderful year of play and activities with our member families. We have continued to provide interactive Hartbeeps sessions twice weekly alongside our regular stay and play sessions, with activities throughout the school holidays for children from 0-11.

There have been exciting trips, including visits to Kew Gardens, Margate, Hever Castle and Bocketts Farm, a Halloween Party, a messy play session supported by volunteers from Advent International and a Change4Life session focusing on physical awareness of children’s strength, coordination and balance.

Toy loans continued throughout the year.

We were able to offer our younger children a Theatre Show with “Long Nose Pupets ” supported by volunteers and sponsorship from United Living, and our older children were invited once again to the Peacock Theatre to watch Price Waterhouse Cooper’s annual pantomime.

2

Our summer programme was bigger than ever, with Rolls Royce hosting make and fly a glider sessions, T-shirt printing, art, sand and water play, African drumming, gardening, dance and PTL’s enterprise course for older children all on the schedule, along with visits from mini beasts wranglers, falconry experts and PTL’s regular Safari Pete, conservationist.

3

Business plan

A working document, our Business Plan, includes PTL's mission statement, objectives, governance and management structure, financial analysis and strategy for fundraising, resourcing and partnering goals, marketing, monitoring and evaluation. We are using this working document to achieve our goals of sustainable, longer-term planning, so we can concentrate on having a members’ led organisation that centres on developing children’s potential and helping support parents.

We are pleased with our achievements, will learn from our challenges, are grateful for stakeholder feedback and will build on our work going into the next year.

We continue to develop our governance skills:

4

Monitoring and evaluating

PTL continues to prioritise ensuring that the services we offer meet the needs of our members. Continuous monitoring and evaluation helps us evidence the impact we make in our members’ lives for the benefit of current and potential funders as well as to shape our understanding of our user base that is so valuable when planning future activities. It is also an avenue for exploring any support required by our members above and beyond our timetabled services.

User-friendly questionnaires continue to give us an insight into the experiences of both children and parents and allows us to take steps to improve our services for the benefit of all.

Thank you

The trustees would like to thank, on behalf of PTL, everyone who has worked so hard during the 2023-2024 financial year to help us achieve our aim of providing local families with the space and opportunity to help their children learn through play.

5

PTL could not continue to achieve this without the support of our funders and volunteers, nor without the incredible support of all our member families. We are extremely grateful to you all.

Finally, but most importantly, the trustees want to express their enormous thanks to Maggie and Shelia for another year of tireless dedication to PTL and our member families. Not only do they share their skills and expertise with us all so freely throughout the year but they do so with compassion and wisdom – they are the beating heart of PTL.

Our volunteers

Once again, we have been fortunate for the time, enthusiasm and skills of our volunteers who, this year, have among other activities painted the hall and toilets, cleaned the exterior façade and donated a bubble tube for installation in the main play space.

We are particularly thankful to Individual Volunteers:

Our supporters

We would also like to give a special thank you to all our supporters during

6

the year that include:

Our trustees

This year our trustees were:

Many of our trustees have taken on additional work for us, over and above their trustee role and for which PTL is always grateful, including fundraising to provide activities of specific interest to families of African and/or Caribbean heritage, bookkeeping, financial input and social media account management.

7

Local partnerships

We continue to work hard to forge and develop partnerships with local businesses and educational institutions.

8

We joined Abbey Community Centre, Cardinal Hume Centre,Caxton Youth Centre, St.Andrews Club, St Vincent’s Family Project to form the SW1CEO’s to share information, ideas, resources and support.

PTL continued to be involvement in the ‘Pimlico Million’ project, a resident– led funding and development initiative financed by the Big Local, with whom we have partnered since 2015. £1million pounds is available to spend, for those living in the “Pimlico Million area” of specific postcodes, over 10 years. The aim is to both make an immediate difference and to leave a legacy in the long-term.

We also continued our partnership with Churchill Gardens Academy Primary School during this financial year, allowing us again to use the great indoor and outdoor space available at the school site for our summer 2023 programme sessions. We note the closure of the school with effect from the end of the summer term in 2024 and reiterate our gratitude to Liane Tylee for her support during her tenure as Head.

Fees and membership

Our membership fee per family remained unchanged at £20.00 per year. We keep this fee deliberately low to ensure that no family is excluded from our offering due to lack of finances, but additionally our policy includes the discretion to waive this fee to ensure that we remain inclusive.

Signed on behalf of the Charity’s Trustees:-

Alex Moyler Chair of Trustees

Date:27[th] November 2024

9

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

ON THE UNAUDITED ACCOUNTS OF

PIMLICO TOY LIBRARY

For the purposes of those charity funds on pages 14 to 20 for the year ended 31 March 2024 which require an independent examiner's report, we confirm the following:-10

Respective Responsibilities of Trustees and Examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

• examine the financial statements (under section 145 of the 2011 Act);

• to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act);

Basis of Independent Examiner's Report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes considerations of any unusual items or disclosures in the financial statements, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the financial statements present a "true and fair view" and the report is limited to those matters set out in the statements below.

Independent Examiner's Statement

In connection with my examination, no matter has come to my attention

1) which gives me reasonable cause to believe that, in any material respect, the trustees have not met the requirements:

• to keep accounting records in accordance with s130 of the 2011 Act; and

• to prepare financial statements which agree with the accounting records and to comply with the accounting requirements of the 2011 Act; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

H Cheesman FCA Chichester Accounting 104 Stockbridge Road Chichester West Sussex PO19 8QP

Date: 20th November 2024

10

Statement of Financial Activities For the year ended 31 March 2024

Pimlico Toy Library

notes
Income from Charitable activities
2
Total income
Expenditure on Charitable activities
3
Governance costs
4
Total expenditure
Transfers between funds
9
Gains / (losses) on investment assets
Net movement in funds
Total funds brought forward
Total funds carried forward
9
Net (outgoing) resources before other
gains/(losses)		 Unrestricted
Designated
funds
funds
125,725
-		 Unrestricted
Designated
funds
funds
125,725
-		 Restricted
funds
10,000
10,000
-
-
-
-
10,000
-
10,000
0
10,000		 2024
Total
£
135,725
135,725
163,810
4,288
168,098
-
(32,373)
-
(32,373)
67,689
35,316		 2023
Total
£
76,857
125,725
-		 76,857
147,363
16,447
4,288
-		 95,516
3,305
151,651
16,447		 98,821
- - -
(25,926)
-
(25,926)		 (16,447)

(16,447)		 (21,964)
-
(21,964)
51,242 16,447 89,653
25,316
0		 67,689

11

Balance Sheet As at 31 March 2024

Pimlico Toy Library

notes
Current Assets
Debtors
7
Bank and cash
Total current assets
Current Liabilities
Creditors due within one year
8
Net current assets
Total Net Assets
Funds
9
Unrestricted
Designated
Restricted		 £
£
2,125
39,891
42,016
6,700
35,316
35,316
25,316
-
10,000
35,316
2024		 £
£
2,125
39,891
42,016
6,700
35,316
35,316
25,316
-
10,000
35,316
2024		 £
£
2,125
71,102
73,227
5,538
67,689
67,689
51,242
16,447
-
67,689
2023		 £
£
2,125
71,102
73,227
5,538
67,689
67,689
51,242
16,447
-
67,689
2023
42,016
6,700		 73,227
5,538
51,242
16,447
-
35,316 67,689

These accounts were approved by the Trustees on and signed on their behalf by

A Moyler: Chair

The attached notes (1 - 12) form part of this statement.

12

Notes to the financial statements

Pimlico Toy Library

1 Accounting polices

Basis of preparation

The accounts are prepared on the basis of historic cost in accordance with:

Incoming resources

All incoming resources have been included on a receivable basis.

Depreciation

Depreciation on other fixed assets is calculated to write off the cost on a straight-line basis over their expected useful life, at the following rates on a straight line basis:

Furniture and fittings 25% Computer and equipment 25%

Taxation

The charities activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988, and there is no taxation charge in the accounts.

13

Notes to the financial statements

Pimlico Toy Library

2 Charitable activities
Westminster Amalgamated
St Giles and St George
St John's Lodge
The Grand Charity
Rolls Royce
Westminster Almshouses
The Freemasons
Titre
Toy loans
Member donations
Non member donations
Play sessions
Localgiving Limited
Catenrian Lodge
Westminster Foundation
Young England Nursery
United Living
J Featherby
Peabody Trust
Strand Parishes Trust
Give as you Live
Robinson Charity
Lottery Community fund
St Stephen with St John
Ultra Education
Falcon Housing
Veolia
R Augustin
Luke Boardman
Groundwork
Church Urban Windrush Day Grant
Churchill Gardens Residents Ass
Abbey Rent
Pimlico Million
Sales
Party hire
One Westminster
Intercultural
Amazon Smile
Membership
Westminster City Council
Total		 Unrestricted
Designated
Restricted
2024
£
£
£
£
7,500
-
-
7,500
15,000
-
-
15,000
-
-
-
-
1,000
-
-
1,000
6,431
-
-
6,431
-
-
10,000
10,000
-
-
-
-
-
-
-
1,058
-
-
1,058
-
-
-
-
18
-
-
18
2,200
-
-
2,200
497
-
-
497
65
-
-
65
-
-
-
-
1,500
-
-
1,500
1,450
-
-
1,450
1,100
-
-
1,100
-
-
-
-
-
-
-
-
-
-
-
-
1,000
-
-
1,000
9,864
-
-
9,864
-
-
-
-
-
-
-
-
200
-
-
200
2,000
-
-
2,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,500
-
-
2,500
240
-
-
240
18,200
-
-
18,200
70
-
-
70
112
-
-
112
100
-
-
100
270
-
-
270
-
-
-
-
2,770
-
-
2,770
50,580
-
-
50,580
125,725
-
10,000
135,725		 2023
£
8,000
15,000
280
-
5,000
5,000
250
400
78
354
1,020
-
500
-
5,000
-
-
1,200
10,000
5,000
24
1,000
-
650
37
-
-
40
20
500
7,850
-
-
-
-
-
-
-
10
311
9,333
76,857

14

Notes to the financial statements

Pimlico Toy Library

3 Charitable activities

Unrestricted
Designated
Restricted
£
£
£
Cleaning
1,755
-
-
Database
4,962
-
-
Events
1,495
-
Staff Costs
67,734
-
Volunteer costs
-
-
-
Insurance
1,826
-
Laundry
-
-
Office costs
1,135
-
Rent, rates & utilities
5,652
16,447
-
School holiday outing,
transport & tutors
44,768
-
-
Session Workers
5,473
-
Telephone & IT
689
-
-
Toys
1,627
-
-
Tutor
6,688
-
Venue hire
2,216
Professional fees
-
Materials & repairs
1,343
-
-
Total
147,363
16,447
-
4
Governance costs
Unrestricted
Designated
Restricted
£
£
£
Independent examination
1,100
-
-
Establishment costs
3,188
-
-
Total
4,288
-
-
5
Staff costs
Salaries
National Insurance
Pension costs
Other costs
Total
The average number of employees during the year was		 Unrestricted
Designated
Restricted
£
£
£
1,755
-
-
4,962
-
-
1,495
-
67,734
-
-
-
-
1,826
-
-
-
1,135
-
5,652
16,447
-
44,768
-
-
5,473
-
689
-
-
1,627
-
-
6,688
-
2,216
-
1,343
-
-		 2024
£

1,755

4,962
1,495
67,734

-

1,826

-

1,135

22,099

44,768

5,473

689

1,627
6,688
2,216
-

1,343

163,810
2024
£

1,100

3,188

4,288
2024
£
67,734
-
-
-
67,734
2		 2023
£
1,248
225
666
61,039
15
2,014
188
817
4,437
-
2,836
345
55
12,890
3,056
1,399
4,286
147,363
16,447
-		 95,516
Unrestricted
Designated
Restricted
£
£
£
1,100
-
-
3,188
-
-		 2023
£
1,100
2,205
4,288
-
-		 3,305
2023
£
61,039
-
-
-
61,039
2

No employee received emoluments in excess of £60,000 during the year (2022: none).

15

Notes to the financial statements

Pimlico Toy Library

6 Tangible fixed assets

Play room
fittings
Cost
Brought forward
1,260
Carried forward
1,260
Depreciation
Brought forward
1,260
Charge in the year
-
Elimination in the year
-
Carried forward
1,260
Net Book Value
At 31 March 2023
-
At 31 March 2022
-
All the fixed assets are used for direct charitable purposes.
7
Debtors
Accrued income
Prepayments and other debtors
Total
8
Creditors due within one year
Social security and other tax
Accruals		 Play room
fittings
1,260		 Computers
and
equipment
910
910
910

-

-
910

-

-
2024
£
2,125
2,125
2024
£
1,200
5,500
6,700		 Total
2,170
1,260
1,260
-
-		 2,170
2,170
-
-
1,260
-		 2,170
-
- -
2023
£
2,125
2,125
2023
£
1,138
4,400
5,538

16

Notes to the financial statements

Pimlico Toy Library

9 Funds
Unrestricted
General fund
Designated
Rent due but not invoiced
Restricted		 Balances
brought
forward
Incoming
resources
Outgoing
resources Transfers
Balances
carried
forward
51,242
125,725
(151,651)
-
25,316
16,447
-
(16,447)
-
-
10,000
-
-
-
10,000
77,689
125,725
(168,098)
-
35,316

10 Trustees Expenses

There were no trustee expenses in 2023 (2022: nil)

11 Annual commitments under operating leases

At March 31, 2023 the Charity has annual commitments under renewable operating leases for office & work space as set out below:

Operating leases which expire:
Within 1 - 5 years
(renewable every 5 years)
12 Analysis of net assets
Restricted funds
Designated funds
Unrestricted funds		 -
-
-
Fixed
Assets		 2024
2023
£
£
8550
8550
8550
8550
Total
10,000
10,000
-
-
25,316
25,316
Current
Assets
- 35,316
35,316

17

Treasurer’s report

Income and expenditure

Due to successful fundraising e6orts we were able to increase our income from charitable activities significantly to £135,725 (2023: £76,857). The increase was down to a number of new funding sources, most notably Pimlico Million, the Lottery Community Fund and Churchill Garden Residents’ Association, together with increased funding from Westminster City Council. Further details are provided in Note 2 to the financial statements.

The increased funding enabled us to maintain current activities and expand a number of new activities, as further documented in the Chair’s report. We reiterate our thanks to all our funders.

and overheads meaning that our net outgoings on unrestricted funds for the year was £25,926. We also used £16,447 of designated funds previously set aside to settle an historical rent obligation. We now have a new rent agreement in place

Balance sheet and reserves

The income and expenditure during the year resulted in total closing funds down to £35,316 (2023: £67,689). Of these reserves £10,000 relates to restricted funds. All our funds are in current assets and are substantially in cash.

Our reserves policy is to hold 6 months expenditure in unrestricted reserves and we need to work to re-build reserves going forward. We review our reserves policy annually.

Future outlook

We are actively working on our funding pipeline to sustain our activities, fund additional project worker support and strengthen our financial position. The current pipeline is promising, but we are managing our financial risk carefully through close monitoring of our expenses and review of cashflow projections.

We will look to expand the value we bring to local families through the partnerships we form that provide services, gifts in kind and voluntary help.

18