**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:
- All trustees completed refresher safeguarding training and elected to incorporate safeguarding as a standing item on our trustee meeting agenda. Staff will refresh their training in 2024;
- Health and safety was added as a standing item on our trustee meeting agenda, including any “near misses”;
- We continued our ongoing review of PTL policies; and
- Further consideration of staff succession planning was carried out, including financial analysis of the future workforce to ensure sustainability of adequate staffing.
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:
- Jessie Campbell
- Nicholas Lovell
- Gary O’Sullivan
## **Our supporters**
We would also like to give a special thank you to all our supporters during
6
the year that include:
- Advent International
- S. Bulmer
- Churchill Gardens Academy Primary School
- Department for Culture Media and Sport
- J. Featherby
- Freemasons – St Johns Lodge
- John Lewis
- Leylands SDM
- Member Families
- One Westminster
- Peabody Trust
- Pimlico Million
- Robinson Charity
- Rolls-Royce & Partners Finance
- St Giles and St George
- St Stephen and St John Parishioners
- Strand Parishes Trust
- Veolia
- Wates
- Westminster Amalgamated
- Westminster City Council
- Westminster Almshouses
- Westminster Connects
- Westminster Foundation
- Young England Nursery and families
## **Our trustees**
This year our trustees were:
- Alex Moyler: Chair
- Dominic Barnard: Treasurer
- Rashida Abdulai
- Divya Cherala – resigned January 2024
- Andrew Downes
- Kate Shrivastava
- Jason Williams
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);
- state whether particular matters have come to my attention.
## **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:
- Accounting and Reporting by Charities - Statement of Recommended Practice (SORP);
- Accounting Standards;
- and the Charities Act 2011;
- Financial Reporting Standard (FRS 102).
## **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