**Charity registration number 1174220 (England and Wales) Company registration number 10892952**
## **THE LOG CABIN CHARITY**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2024**
## **THE LOG CABIN CHARITY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|J M Davis||
|---|---|---|
||R Palfreeman||
||W R Hardman||
||R Bhamm JP (MA)|(Appointed 26 January|
|||2024)|
|**Secretary**|J M Davis||
||S Flynn||
|**Charity number**|1174220||
|**Company number**|10892952||
|**Registered office**|259 Northfield Avenue||
||Ealing||
||London||
||W5 4UA||
|**Independent examiner**|Clarke & Co||
||Acorn House||
||33 Churchfield Road||
||London||
||W3 6AY||
|**Bankers**|HSBC Bank Plc||
||PO Box 260||
||46 The Broadway||
||Ealing||
||London||
||W5 5JR||
## **THE LOG CABIN CHARITY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 5|
|Statement of Trustees responsibilities|6|
|Independent examiner's report|7|
|Statement of financial activities|8 - 9|
|Summary income and expenditure account|10|
|Balance sheet|11|
|Statement of cash flows|12|
|Notes to the financial statements|13 - 23|
## **THE LOG CABIN CHARITY**
## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
The Trustees present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Associations, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The Log Cabin Charity provides inclusive adventure play and short breaks for children and young people aged 4 to 15 from the London Borough of Ealing, and is primarily for children with additional needs, disabilities or who are in need. The variety of facilities offered on The Log Cabin Charity site includes a large playground with a water play feature, a multi-use ball games area and quieter outdoor areas such as a sensory garden and raised gardening areas. Indoors are a large hall, computer-controlled multi-sensory room, large, bright arts and craft room, a games room, a quiet room and a calm room. It is open for fifty weeks of the year six days a week.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
## **Mission Statement**
The Log Cabin Charity aims to make a positive difference to the lives of children and young people who have additional needs or disabilities or are in need by providing exciting and stimulating play opportunities in a safe , caring , inclusive and fun environment.
- 1 -
## **THE LOG CABIN CHARITY**
## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Achievements and performance**
The results for the year are set out on pages 8 to 25.
In August 2017 the Log Cabin Charity merged the activities, assets and ongoing obligations of "The Log Cabin", charity number 275183. The Log Cabin Charity has continued the good work of its predecessor by providing a range of activities for children, primarily with additional needs and disabilities.
## **Consistent Service and Outreach**
The Log Cabin Charity operates 50 weeks a year and is dedicated to positively impacting the lives of children and young people aged 5-15 who have additional needs, disabilities, or are in need. Our unwavering goal is to provide stimulating play and socialising opportunities in a safe, caring, inclusive, and fun environment.
Our services include:
- **After-school club** : Available on weekdays during term time, providing a two course meal each day.
- **Holiday play schemes** : Held on weekdays during school holidays, including a satellite play scheme at an additional location.
- **Weekend sessions** : Runs during term time, offering enriching activities.
To support accessibility, we offer **free, safe transportation** for children who need it, picking them up from schools and homes across the borough
Additionally, we organise **day trips** during play scheme sessions and on select weekends. These outings, which include visits museums, swimming pools, and other recreational facilities, provide small groups of children and young people with enriching, educational, and fun experiences, fostering their growth and development and ensuring parents that their children are learning while having fun.
## **Supporting Families and Meeting Challenges**
Our commitment to supporting families remains unwavering. We offer a wide range of activities for children and young people, particularly those who are vulnerable or have additional needs and disabilities, to ensure no one is left behind.
Despite the challenges of responding to the high demand for our services for children and young people with more complex needs, we have continued to make a positive difference in their lives. Through our ongoing efforts, we strive to provide meaningful support and opportunities for all who attend our services.
## **Commitment to Support and Expansion**
We are deeply committed to supporting children, young people, and their families by focusing on meeting their evolving needs. Our dedication extends to actively exploring opportunities to expand our services and create a sustainable and impactful future for our community. We are excited about the possibilities that lie ahead and the positive impact we can make together.
- 2 -
## **THE LOG CABIN CHARITY**
## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Financial review**
In this financial year the charity continued to receive restricted grants from BBC Children in Need, John Lyon's Charity, the National Lottery Fund, a small grant and rent subsidy from London Borough of Ealing. There were also a few small grants from local charities as well as donations from supporters.
All of our staff receive the London Living Wage and it is our intention to continue with this practice. The year end deficit was £84,775.
## **General Policies**
The policies of the Trustees are to ensure The Log Cabin Charity operates in accordance with the rules laid down in its Memorandum and Articles of Association and within that context in accordance with its stated mission. More particularly the Trustees' aims are: -
• providing high quality services, such as holiday play schemes, after school club, and weekend club sessions for older young people.
• empowering children to make informed choices and to gain a sense of achievement and self-respect;
• providing opportunities for children to develop socially, physically, intellectually, creatively and emotionally;
• developing positive relationships with, and working partnerships with parents/carers, schools, the local community and other organisations;
• ensuring equality of opportunity for children who use the services and for the staff and volunteers;
• improving the welfare of families who have a child or children with additional needs by providing affordable childcare and short breaks for children and their parents/carers; and
• offering an inclusive service, integrating special needs and mainstream children in all activities and encouraging social interaction between all children, regardless of ability.
## **Reserve Policy**
Subject to current requirements, all monies held at the bank are available for charitable purposes by the charity's objective and policies.
The Trustees aim to maintain free reserves in unrestricted funds at a level that equates to approximately three months of unrestricted charity expenditure. The current level of reserve meet this objective.
The playground, which is the charity's sole responsibility, needs major renovation. We aim to continue targeted fundraising for this project, but the charity will likely have to contribute substantially from any surplus fund we hold.
We will continue to build upon our existing links with local businesses from which we have received generous support in the past and developed new contacts in the local community.
## **Principal Grant Funding**
The charity is supported by major funders and local trusts, enabling us to deliver essential services to children with disabilities, additional needs, and children in need, though future funding remains uncertain.
- 3 -
## **THE LOG CABIN CHARITY**
## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Investment Policy and Objectives**
The charity has no surplus funds available for investing at present.
The Trustees are not currently considering investing due to the lack of adequate, regular and sustainable funding. Should surplus funds become evident then the Trustees will follow the law applicable to Trustees in such circumstances. Independent financial advice will always be obtained before making any investment. Investments held are legacy endowment funds.
## **Risk Management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
The Trustees have assessed the major risks to which the charity is exposed and have put systems in place to mitigate their exposure to such risks.
## **Specific risk**
Our charity faces several specific risks that could impact our ability to deliver services and maintain financial sustainability:
- Funding Reduction
- Grant Dependency
- Increased Operational Costs
- Staffing and Retention
- Service Demand vs. Capacity
All of which may challenge our ability to sustain service delivery and staffing. The charity's leadership regularly reviews these specific risks, and we are actively working to mitigate them through strategic planning, financial forecasting, and efforts to diversify our income streams.
We are grateful to a few major funders whom have provided continuous restricted grants in the past two to three years but those are not always guaranteed to continue.
## **Structure, governance and management**
The Log Cabin Charity was incorporated on 1st August 2017 as a company limited by guarantee. It operates under the name "The Log Cabin Charity". The company is governed by its Memorandum and Articles of Association.
Other detailed information as required by SORP is shown on page 1 of the financial statements.
The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
J M Davis R Palfreeman W R Hardman R K Sangha (Resigned 26 January 2024) R Bhamm JP (MA) (Appointed 26 January 2024)
- 4 -
## **THE LOG CABIN CHARITY**
## **TRUSTEES REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **Organisational Structure**
The Log Cabin Charity is run by a Management Committee of 4 Trustees (but not more than 15). Up to 5 members within this total may be co-opted at a special management committee meeting.
The Board of Trustees meets six times a year. The Head of Service and the Fund Raising Manager also attend the meetings.
Sub-committees, made up of Trustees and appropriate staff members, focus on finance and strategic planning, marketing and PR, human resources/remuneration and premises/health and safety.
## **Trustee Induction and Training**
Training is given on what is expected of the Trustees under charity law, in particular acting as a Trustee, management and governance and strategic planning.
After obtaining enhanced DBS clearance new Trustees are inducted into the workings of the charity, including the policies and procedures of the Management Committee.
## **Disclosure of Information to the Independent Examiner**
Each of the Directors has confirmed that there is no information of which they are aware which is relevant to the accounts but of which the Independent Examiner is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the Independent Examiner is aware of such information.
The Trustees report was approved by board of Board of Trustees and was signed by the secretary on behalf of the board of trustees.
J M Davis
## **Trustee**
4 December 2024
- 5 -
## **THE LOG CABIN CHARITY**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The Trustees, who are also the directors of The Log Cabin Charity for the purpose of company law, are responsible for preparing the Trustees Report and the 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 year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 6 -
## **THE LOG CABIN CHARITY**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LOG CABIN CHARITY**
I report to the Trustees on my examination of the financial statements of The Log Cabin Charity (the charity) for the year ended 31 March 2024.
## **Responsibilities and basis of report**
As the Trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
## **Independent examiner's statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
- 4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
## **Clarke & Co**
## **M.T. Stower FCA**
Acorn House 33 Churchfield Road London W3 6AY
Clarke & Co. Chartered Accountants
Dated: 4 December 2024
- 7 -
## **THE LOG CABIN CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2024**
**2024**
**2024**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
520,651
200,091
-
Other trading activities
**4**
7,438
-
-
Investments
**5**
2,115
-
-
Other income
**6**
25,064
-
-
**Total income**
555,268
200,091
-
**Expenditure on:**
Raising funds
Fundraising and publicity
**7**
2,335
-
-
Charitable activities
**8**
638,826
200,091
-
**Total expenditure**
641,161
200,091
-
Net gains/(losses) on investments
**12**
-
-
1,118
**Net income/(expenditure) and movement in funds**
(85,893)
-
1,118
**Reconciliation of funds:**
Fund balances at 1 April 2023
534,526
-
60,155
**Fund balances at 31 March 2024**
448,633
-
61,273|**Total**
**Unrestricted**
**Restricted Endowment**
**funds**
**funds**
**funds**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
720,742
591,611
266,573
-
7,438
9,087
-
-
2,115
1,320
-
-
25,064
6,850
-
-
755,359
608,868
266,573
-
2,335
268
-
-
838,917
457,796
266,573
-
841,252
458,064
266,573
-
1,118
-
-
(3,375)
(84,775)
150,804
-
(3,375)
594,681
383,722
-
63,530
509,906
534,526
-
60,155|**Total**
**2023**
**£**
858,184
9,087
1,320
6,850
875,441
268
724,369
724,637
(3,375)
147,429
447,252
594,681|
|---|---|---|
- 8 -
## **THE LOG CABIN CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 9 -
## **THE LOG CABIN CHARITY**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**All income funds**
**2024**
**£**
Gross income
755,359
Total expenditure from income funds
841,252
**Net (expenditure)/income for the year**
(85,893)|**2023**
**£**
875,441
724,637|
|---|---|
||150,804|
- 10 -
## **THE LOG CABIN CHARITY**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2024**_
|**Notes**
**Fixed assets**
Tangible assets
**14**
Investments
**15**
**Current assets**
Debtors
**16**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**17**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Endowment funds
**20**
Unrestricted funds
**21**|**2024**
**£**
8,656
488,166
496,822
(96,822)|**£**
48,633
61,273
109,906
400,000
509,906
61,273
448,633
509,906|**2023**
**£**
49,809
525,537
575,346
(80,410)|**£**
39,590
60,155|
|---|---|---|---|---|
|||||99,745
494,936|
|||||594,681|
|||||60,155
534,526|
|||||594,681|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees on 4 December 2024
J M Davis **Trustee**
W R Hardman **Trustee**
Company registration number 10892952 (England and Wales)
- 11 -
## **THE LOG CABIN CHARITY**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**24**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Net cash generated from financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
(23,596)
2,115|**£**
(15,890)
(21,481)
-
(37,371)
525,537
488,166|**2023**
**£**
(6,814)
1,320|**£**
132,140
(5,494)
-
126,646
398,891
525,537|
|---|---|---|---|---|
- 12 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
## **Charity information**
The Log Cabin Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is 259 Northfield Avenue, Ealing, London, W5 4UA.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 13 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 20% Straight Line Motor vehicles 20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- 14 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
- 15 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
9,855
-
Government and other
organisational grant
-
200,091
After school club and
children play scheme fees
510,796
-
520,651
200,091
**Donations and gifts**
Individual and
organisational donations
9,855
-
9,855
-
**Grants receivable for core activities**
London Borough of Ealing
- Voluntary sector grant
-
15,950
London Borough of Ealing
other grant
-
-
Other Grant
-
184,141
-
200,091|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
9,855
16,007
-
200,091
-
266,573
510,796
575,604
-
720,742
591,611
266,573
9,855
16,007
-
9,855
16,007
-
15,950
-
31,900
-
-
61,002
184,141
-
173,671
200,091
-
266,573|**Total**
**2023**
**£**
16,007
266,573
575,604|
|---|---|---|
|||858,184|
|||16,007|
|||16,007|
|||31,900
61,002
173,671|
|||266,573|
## **4 Income from other trading activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Fundraising events|7,438|9,087|
|**Income from investments**|||
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Interest receivable|2,115|1,320|
- **5 Income from investments**
- 16 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **6 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|Other income|25,064|6,850|
## **7 Expenditure on raising funds**
|**Raising funds**
Advertising
**Charitable activities**
**Running**
**and**
**maintaining**
**children's**
**recreational**
**activities**
**Depreciation**
**and**
**impairment**
**2024**
**2024**
**£**
**£**
Staff costs
491,522
-
Depreciation and
impairment
-
14,553
Direct charitable
activities cost
298,426
-
789,948
14,553
Share of support costs
29,376
-
Share of governance
costs
5,040
-
824,364
14,553
**Analysis by fund**
Unrestricted funds
624,273
14,553
Restricted funds
200,091
-
824,364
14,553|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
2,335
268
**Total**
**2024**
**Running**
**and**
**maintaining**
**children's**
**recreational**
**activities**
**Depreciation**
**and**
**impairment**
**Total**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
491,522
463,130
-
463,130
14,553
-
12,647
12,647
298,426
217,903
-
217,903
804,501
681,033
12,647
693,680
29,376
25,649
-
25,649
5,040
5,040
-
5,040
838,917
711,722
12,647
724,369
638,826
445,149
12,647
457,796
200,091
266,573
-
266,573
838,917
711,722
12,647
724,369|**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2024**
**2023**
**£**
**£**
2,335
268
**Total**
**2024**
**Running**
**and**
**maintaining**
**children's**
**recreational**
**activities**
**Depreciation**
**and**
**impairment**
**Total**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
491,522
463,130
-
463,130
14,553
-
12,647
12,647
298,426
217,903
-
217,903
804,501
681,033
12,647
693,680
29,376
25,649
-
25,649
5,040
5,040
-
5,040
838,917
711,722
12,647
724,369
638,826
445,149
12,647
457,796
200,091
266,573
-
266,573
838,917
711,722
12,647
724,369|
|---|---|---|
|||**Total**
**2023**
**£**
463,130
12,647
217,903|
|||693,680
25,649
5,040|
|||724,369|
|||457,796
266,573|
|||724,369|
## **8 Charitable activities**
- 17 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**9**|**Net movement in funds**|**2024**|**2023**|
|---|---|---|---|
|||**£**|**£**|
||The net movement in funds is stated after charging/(crediting):|||
||Fees payable for the independent examination of the charity's financial|||
||statements|-|-|
||Depreciation of owned tangible fixed assets|14,553|12,647|
## **10 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity charity during the year (2023 - Nil).
## **11 Employees**
The average monthly number of employees during the year was:
|Office and management
Operational
Total
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.|**2024**
**Number**
5
30
35
**2024**
**£**
457,516
26,324
7,682
491,522|**2023**
**Number**
5
30|
|---|---|---|
|||35|
|||**2023**
**£**
432,694
23,284
7,152|
|||463,130|
||||
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
## **12 Gains and losses on investments**
||**Endowment**|**Endowment**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
|Gains/(losses) arising on:|**£**|**£**|
|Revaluation of investments|1,118|(3,375)|
- 18 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **13 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **14 Tangible fixed assets**
|**Plant and**
**equipment**
**£**
**Cost**
At 1 April 2023
146,812
Additions
23,596
At 31 March 2024
170,408
**Depreciation and impairment**
At 1 April 2023
133,989
Depreciation charged in the year
9,200
At 31 March 2024
143,189
**Carrying amount**
At 31 March 2024
27,219
At 31 March 2023
12,823|**Motor**
**vehicles**
**£**
41,823
-
41,823
15,056
5,353
20,409
21,414
26,767|**Total**
**£**
188,635
23,596|
|---|---|---|
|||212,231|
|||149,045
14,553|
|||163,598|
|||48,633|
|||39,590|
## **15 Fixed asset investments**
||||**Unlisted**|
|---|---|---|---|
||||**investments**|
||||**£**|
||**Cost or valuation**|||
||At 1 April 2023||60,155|
||Valuation changes||1,118|
||At 31 March 2024||61,273|
||**Carrying amount**|||
||At 31 March 2024||61,273|
||At 31 March 2023||60,155|
|**16**|**Debtors**|||
|||**2024**|**2023**|
||**Amounts falling due within one year:**|**£**|**£**|
||Trade debtors|8,656|49,809|
- 19 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**17**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**18**
Trade creditors
Other creditors
Accruals
**18**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Resources deferred in the year
Deferred income at 31 March 2024
**19**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**2024**
**£**
2,170
25,000
17,820
1,823
50,009
96,822
**2024**
**£**
25,000
**2024**
**£**
25,000
49,759
(49,759)
25,000
25,000
**2024**
**£**
7,682|**2023**
**£**
133
49,759
13,453
473
16,592|
|---|---|---|
|||80,410|
|||**2023**
**£**
49,759|
|||**2023**
**£**
49,759|
|||34,091
-
15,668|
|||49,759|
|||**2023**
**£**
7,152|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
- 20 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **20 Endowment funds**
Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
||**At 1 April**|**Gains and**|**At 31 March**|
|---|---|---|---|
||**2023**|**losses**|**2024**|
||**£**|**£**|**£**|
|**Permanent endowments**||||
||60,155|1,118|61,273|
|**Previous year:**|**At 1 April**|**Gains and**|**At 31 March**|
||**2022**|**losses**|**2023**|
||**£**|**£**|**£**|
|**Permanent endowments**||||
||63,530|(3,375)|60,155|
## **21 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
|---|---|---|---|---|
||**2023**|**resources**|**expended**|**2024**|
||**£**|**£**|**£**|**£**|
|Running cost|210,000|-|-|210,000|
|Playground development|200,000|-|(150,000)|50,000|
|General funds|124,526|555,268|(491,161)|188,633|
||534,526|555,268|(641,161)|448,633|
|**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|
||**2022**|**resources**|**expended**|**2023**|
||**£**|**£**|**£**|**£**|
|Running cost|183,000|27,000|-|210,000|
|Playground development|150,000|50,000|-|200,000|
|General funds|50,722|531,868|(458,064)|124,526|
||383,722|608,868|(458,064)|534,526|
- 21 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
## **22 Analysis of net assets between funds**
|**Unrestricted**
**Endowment**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 March 2024:**
Tangible assets
48,633
-
Investments
-
61,273
Current assets/(liabilities)
400,000
-
448,633
61,273
**Unrestricted**
**Endowment**
**funds**
**funds**
**2023**
**2023**
**£**
**£**
**At 31 March 2023:**
Tangible assets
39,590
-
Investments
-
60,155
Current assets/(liabilities)
494,936
-
534,526
60,155|**Total**
**2024**
**£**
48,633
61,273
400,000|
|---|---|
||509,906|
||**Total**
**2023**
**£**
39,590
60,155
494,936|
||594,681|
## **23 Related party transactions**
## **Transactions with related parties**
During the financial year, the charity had transactions with related parties in the ordinary course of business. These transactions were conducted on terms equivalent to those prevailing in arm's length transactions. Our Board of Trustees properly oversaw them to ensure compliance with our financial governance policies.
All related party transactions, including those involving trustees and senior management, are disclosed and monitored to ensure transparency and avoid conflicts of interest. Trustees and senior management must declare any potential conflicts at the start of each meeting, and no trustee receives any remuneration for their role beyond reimbursement for necessary expenses.
No material-related party transactions during the year financially impacted the charity's overall performance or operations.
During the year the charity entered into the following transactions with related parties:
The Log Cabin Charity provides 'out of school' services to children on premises and land leased from the London Borough of Ealing. The charity's work and facilities enable the Borough to fulfil its legal obligation to provide such facilities for children with special needs. The charity received a basic grant of £15,950 (2023 - £31,900) towards core funding ; £0 (2023 - £17,859) for special children care services ; £26,956 (2023 - £43,143) for holiday activity and food (HAF) programme and £16,164 (2023 - £0) for cleaning services from the London Borough of Ealing.
In addition the Borough paid attendance fees where parents are entitled to free provision of after-school club and play scheme services totalling £465,042 (2023 - £522,659).
- 22 -
## **THE LOG CABIN CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2024**_
|**24**
**Cash (absorbed by)/generated from operations**
(Deficit)/surplus for the year
**Adjustments for:**
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
Decrease/(increase) in debtors
Increase/(decrease) in creditors
(Decrease)/increase in deferred income
**Cash (absorbed by)/generated from operations**|**2024**
**£**
(84,775)
(2,115)
(1,118)
14,553
41,153
41,171
(24,759)
(15,890)|**2023**
**£**
147,429
(1,320)
3,375
12,647
(40,134)
(5,525)
15,668
132,140|
|---|---|---|
## **25 Analysis of changes in net funds**
The charity had no debt during the year.
## **26 Mergers**
At 1st April 2018 The Log Cabin Charity assumed the activities of "The Log Cabin", a registered charity with similar objectives. The transaction has been treated as a merger in accordance with the guidance offered by SORP "Accounting and Reporting by Charities" the Statement of Recommended Practice for Charities applying FRS102.
- 23 -