RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 Company No: 09733557 Charity No: 1201214 ABACUS PARTNERS ILDN) LLP CHARTERED CERTIFIED ACCOUNTANTS UNIT A, ABBOTTS WHARF 93 STAINSBY ROAD LONDON E14 6JL
RAINBOW HOUSE GROUP A Company Limited by Guarantee) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 August 2024 CONTENTS Page l. Direclors'lTruslees' Report 1104 2. Independent Examiner Report 3. Statement of Financial Activities 4. Statement of Financial Position 5. Notes lo the Financial Statements 8t012
Company Information Trustees / Directors Ms Salma Begum Ali Ms lennatun Nessa Al Mamun Ms Tamanna Begum Company number Charity number 09733557 1201214 Principal and Registered Office London Muslim Centre 46 Whitechapel Road London El IJX Examiner Abacus Partners (Ldnl LLP Unit A, Abbotts Wharf 93 Stainsby Road London E14 6JL Banker Barclays Bank PIC
RAINBOW HOUSE GROUP IA Company Limited by Guarantee) Directors'/Trustees' Report for the year ended 31 August 2024 The trustees, who are also directors of the charity for the purposes of the Companies Act, are pleased to present the trustees, report and the Financial statements for the year ended 31 August 2023 to comply with the requirements of the Companies Act 2006, Charities Act 2011 and the Statement of Recommended Practice ISORPI for charities. Governing Instrument: The company'slcharity's objects and regulations are regulated by Memorandum & Articles of Association adopted on 15 July 2022 (based on Charity Commission's model constitutionl and then amended on 24 November 2022. The company wa5 originally incorporated on 14 August 2015 with the Companies House as limited by guarantee. The same documents with amendments were re815tered with the Charity Commission on 2 December 2022. The objects of the charity is to advance the education of children aged O-10 by providing childcare facilities following the National Curriculum and government agenda and providing education and training of persons in the provision of such care, development and education. The charity 15 organised with a Board of Trustees elected by the members to oversee the overall activities. One person is nominated as chairperson to monitor the day to day running of the charitv. About Us Rainbow House is an independent not-for-profit provider of a range of services for children aged O-10 years and their families. It was initiated by local women in 2001 as a mothers & toddlers group, and it grew steadily to meet the Erowing demands of the community and since then has become an Ofsted reElStered child care setting in 2005. In 2015 we opened another site nearby. Our services include part-time and full-time p-SChool sessions, after school club, weekend language clubs, Mothers & Toddlers session, seminars, workshops, crèche, outings, and fun days. With all our services running at full capacity over 200 children and their families benefit from our services on a weekly basis. We are located in purpose-built settings in East London and are managed by a Management Committee. Our Vision Being located in a deprived area our goal is to strive for excellence in all that we do by embedding reflective practice and making measured improvements to provide the best outcomes for children. Research has shown the great impact a high-quality provision can have on the lives of children from disadvantaged backgrounds. Our Mission Rainbow House aims to extend and nurture children through their early learning experience, by using the Early Years Foundation Stage Curriculum as guidance to build upon foundations laid within the home. We support parents, the child's first educators, to help each child be healthy, safe, enjoy and achieve their full potential within a safe and caring environment. Rainbow House is culturally sensitive and reflects the diverse community it serves.
RAINBOW HOUSE GROUP IA Company Limited by Guarantee) Directors'/Trustees' Report for the year encled 31 August 2024 Aims and Ob ectives In fulfilling our mission, we will strive to achieve the following objectives.. To offer high quality childcare for children aged O-10 years, that is affordable for people from disadvantaged backgrounds. To enable parents and families to access early years children's services, education and skills to achieve their full potential 3Trd participate fully in society. To develop skills and knowledge of staff by supporting training and education Key Achievements and Public benefits We strive to provide high quality education whilst still being affordable. This year we extended our services to make it more accessible for working parent5. We aim to make a difference to the lives of all children at our setting and extending its impact to staff, parents, the wider community, and society at large. For example, in collaboration with UCL and Race Equality Foundation, we completed our 13 weeks Strengthening Families Strengthening Communities Parenting course with 12 participants successfully completing the course and receiving their certificates. As in previous years children continue to come into nursery with low language and independence skills,. they were behind in their learning and development and a number of children were supported with their behaviour and identified additional needs. We have therefore ensured all staff focus on interventions to help support children in closing the gap. Early Talk Boost has been highly successful and the most beneficial use of our Pupil Premium funding. The programme aims to accelerate children's progress in language and communication by an average of 5 months after 9 weeks. Children also took part in other interventions such as Forest School, Attention Bucket and Think Equal. We continue to provide high quality Early Years education and care, whilst also managing the impact of the pandemic on our business, children, and families. We took part in the BICYCLE project with City University to understand the impact of COVID on children. In partnership with LaunchGood we successfully fundraised for the nursery as well as global issues close to the hearts of our service users. We collaborated with the local mosque to distribute food and hygiene parce15 to families. We had around 90 children ir> our preschools and a further 90 children access our Afterschool and Weekend clubs. Our small cohort of 6 Reception aged children all achieved their Early Learning Goals and some left Rainbow House as fluent readers and writers and exceeclinE skills and knowledge for their age. In addressing the issue of not having an outdoor space at our LMC site- staff have created an indoor Mud Kitchen- which has been a key highlight of this year-with visitors from local settings and schools coming to see our provision. We endeavoured to enrich children's experiences - particularly those receiving pupil premium funding, by providing a number of outings and trips in addition to our usual ocal trips such as to the Cable cars, Museums, restaurants, places of worship 2nd end of year trips to Soft Play at Kids Mania and London Zoo. We ended the year with Graduation ceremonies at both our sites to celebrate children's progress and achievement5 and 'Special honouring of parents, in their role as first educators of their children. We would also like to extend our gratitude to all staff who have worked tirelessly to help children reach their full potential and together with parents give them the best start in life.
RAINBOW HOUSE GROUP IA Company Limited by Guaranteel Directors'lTrustees' Report for the year ended 31 August 2024 Reserves Policy and Going Concern The Trustees believe that it is essential that the Trust maintains sufficient reserves to allow it to continue its work through difficult economic times, to allow flexibility for cash flow requirements in respect of committed programmes, as well as providing resources in the event of any significant and unexpected expenditure. The Trustees have set a target of six months, expenditure as a prudent level of reserves. Currently the reserve is well above the policy level and yet the reserve policy is regularly under review. The Trustees are fully satisfied with the Going Concern basis of accounts preparation as they have seen further funds received after the financial year-end, which will continue to support planned projects, and help the organis3tion return to a surplus next year. Financial position The Statements of Financial Activities shows a surplus of £83,294 this year12023.' Deficit of £64,239) with total funds of £468,153 12023= £384,859las at 31 August 2024. Despite of having increased funds, the Trustees have assessed cautiously cash flow from 12 months of the signing date of Accounts to be confident of GoinE Concern. Directors / Trustees, Responsibilities,. The trustee5 Iwho are also directors of The Rooted Forum for the purposes of company lawl are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (UK GAAP applicable to Smaller Entitiesl. Company/Charity 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 charitable company and of the incoming resource5 and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. selert suitable accounting policies and then apply them conslstently,. observe the methods and principles in the Charities SORP 2015 IFRS 1021,. 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,. prepare the financial statements on the goin8 concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disc105e with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant audit information of which the charitable company's auditor is unaware,. and as the directors of the company, we have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the company's auditors are aware of that information.
RAINBOW HOUSE GROUP IA Company Limited by Guarantee) Directors nrustee5' Report for the year ended 31 August 2024 Independent Examiner: An independent examiner was carried out by Abacus Partners (Ldnl LLP, Chartered Certified Accountants. In the absence of a specific resolution to the contrary Abacus Partner5 ILdnl LLP will continue in office. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. These financial statements were approved by the board of directors and authorised for issue on 7 May 2025, and are Signed on behalf of the board by.. Ms Salma Begum Ali (Chairl
RAINBOW HOUSE GROUP IA Company Limited by Guaranteel Directors'/Trustees' Report for the year ended 31 August 2024 REPORT OF THE INDEPENDENT EXAMINER TO THE DIRECTORS I TRUSTEES OF RAINBOW HOUSE GROUP l A Company Limited by Guarantee For the year ended 31 August 2024 I have examined the accounts and statements on pages 7 to 13 which have been prepared on the basis of accounting policies sel out on page g. Respective responslblllties of Trustees and Examiner: The trustees (who are also the directors of the company for the purposes of company lawl are responsible for the preparation of the accounts. The Iruslees consider that an audit is not required for this year under section 144121 of the Charities Act 2011 (the 2011 Acll and that an independent examination is needed. The charity's gross income £549,442 and l am qualified lo undertake the examination by being a qualified member of ACCA. Having satisfied myself that the charity is not subject lo audit under company law and is eligible for independent examination, it is my responsibility lo.. examine the accounts under section 145 of the 2011 Act., lo follow the prOdureS laid down in the general Diiections given by the Charity Commission under section 14515llbl of the 2011 Act,, and lo slate whether particular mallers have come to my attention Basis of Examiner's Statement: My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such mallers. 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 accounts present a'true and fair view. and the report is limited lo those matters sel out in the statement below. Independent examiner's statement In connection with my examination, no matter has come to my allenlion." 111 which gives me reasonable cause lo believe that, in any material respect, the requirements.. to keep accounting records in accordance with section 386 of the Companies Act 2006 section 130 of the 2011 Act.. and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Slalement of Recommended Practice.. Accounting and Reporting by Charities have not been mel., or 121 lo which, in My opinion, allenlion should be drawn in order to enable a proper understanding of the accounts to be reached. NurAhmed Chowdhury FCCA for and on behalf of Abacus Partners (Ldnl LLP Unit A, Abbolls Wharf 93 Stainsby Road, London, E14 6JL Dale.. 7 May 2025
RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL ACTIVITIES Ilncoiporating the income and expendlture account) FOR THE YEAR ENDED 31 AUGUST 2024 Unrestrlcted Restricted 2024 2023 INCOME AND EXPENDITURE Notes INCOMING RESOURCES Voluntary Income 33,429 1,810 35,239 11,076 Incoming re50urcg5 from Charitable activities 514,203 514,203 383.720 Totsl Income 547.632 1,810 549,442 374.7 RESOURCES EXPENDED Voluntary expenses Charitable Activities Cosl Govern8nce and Support Cost 2,468 382,118 79,752 2.468 1,810 383.928 79.752 3,960 358,837 76,238 Totsl Resources Expèndeil 464,338 1,810 466,148 439,035 NET INCOME IDEFICIT FOR THE YEAR 83.294 83,294 164,2391 Fund Movement Fund as at 1 September 2023 384,859 384,859 449,098 Funds as at 31 August 2024 466 153 384 859 All the activities ol the charitable Company are frotn continuing operations. The notes on pages 8 to 12 forrn part of these accounts.
RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI STATEMENT OF FINANCIAL POSITION AS AT 31 AUGUST 2024 2024 2023 Notès Flxed Assets: Tangible Assets 10 28,231 32,937 Current Assets: Debtors & piepayrnents Cash at Bank and in hand 11 17,817 513,161 530,978 14,981 406,633 421,614 Credltor3-. Amount falling due within one year 12 91,056 69,692 Net Current Assets 439,922 351,922 Totsl Net Assets 468153 384 8S9 Funds Unrestricted funds.. General 468,153 384,859 Restricted Funds 13 Total Funds 468 153 384 859 Forlhe year ended 31 August 2024 the company was entitled to exemption from audit under section 477 01 the Companies Act 2006 relatirFg to small companies. Director's res The members have not required the company to obtain an audit of its financlal statements for the year In question in accordance with soction 476.. and The director acknowledges his responsibilities for complying with the requirements of the Aci wth respect to accounting records and the pparatiOn of financial statements. These finanaal statements have been ppared in accordance wth the provisions applicable to companies subject to the small companies regime, and 8¢oordants with FRS fj02'The Financial Reporting Standard applicable in the UK and Republic of Irèland,. There financial statèments were approved by the board of diiectors and aulhoiised for issue on 7 May 2025, and arè signed on behalf of the board by.. Salma gum Ali IChairlTrusle91 Company registration number 09733557 Jeenalun Nessa Al-mamun ITreasureitrrusteel The notes on pages e 10 12 form part oflhesé accounts.
RAINBOW HOUSE GROUP IA COMPANY LIMITED BYGUARANTEE Notes to the financial Statements for the year ended 31 August 2024 1 General Information The company is a private company limited by guarantee, gIstered in England. 2 Statement of compliance These financial statements have been prepared in Cornplian with the provisions of FRS 102, section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ire18nd'. 3 Accounting Policias 3.1 Basis of preparation of account5-. The financial statements have been prepared in accordanTr wryth Accounting and Reporting by Charities.. StateTnenl of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Irand IFRS 1021 (effective 1 January 20151 Icharilies SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. The fin8ncial statements are prepared in 5teiling, which Is the fundional currency ol the entity 3.2 Income Recognltlon: All incorning re50urce5 ale Included in the Statèment Of Financial Activits'es ISOFAI when the chaiity is legally entitled to the Income after any perfomiznce conditions have been met, the amount can be measured reli8bly and it Is probable that the income will be reTrived. Don81ion and other incotne recogni58d when ieceived. Tuitions Fee income is iecognis8d when entiuernent has occurred. Grants foi immedia18 expenditure are accounted for when they become receivable. Grants l Donation restricted to future awounting peiiod are deferred and recognised in those periods. Grants l Donation for specific project are treated as restricted to the projects clfvvd for future operation. 3.3 Allocatlon ol ¢o$t'. Costs are allocated between restricted and unrestricted fund according to the terrn5 of income. wtte items expended are mixed, they are apportioned beeen the categories according to the income they relate to as well as using best possible professional judgements. 3.4 Support cost.. Support cost5 ale th058 functions that 858181 the work of the charity but do not directly undertake ch31rtable aetivities. Support C05t5 Include back office costs, financo. pe150nnel. payroll and governance costs which 5UPPOrt the Trusts progr8mrnes and activities. These costs have been allocated between cost of raising funds and 8xpendilure on charitable activities. 3.5 Tanglble flxed assets and depreclatlon: Fixed assets lorthe charity used are capitalised at cost. They are stated in the ac¢oun15 8t cost less depreciation. Depreciation Is calculated to write off the cost less their estimated residual value, over their expected useful lives on the following bases". Fumiture, Fixtu and Equipmenys 3.6 Funds.. • Unrestricted funds are 8v8i18ble for use at the discretion of the trustees in furtherance ol the general objective5 of the charity and which have not been designated lor other purposes. Designated funds comprise unrestricted funds that have been set aside by the IrustÈ6s for particular purposes. The aim and use of each designated fund Is set out in the notes to the finanaal statements. Restricted funds are funds which are to be used in accordance with specific re5trictiOnS itnposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the finana81 statements. 3.7 Going ¢oncern At the time ol approving the accounts, the trustees have a reasonable expectation that the charity has adequate resourTrs to continue in operational existenTr lor ihe next 12 months A surplus has been generated during the year in addition to cumulative surplus fund. and the expected cash QLMows now from the beginning of 2023 can be supported, hence the going concern basis is adopted.
RAINBOW HOUSE GROUP IA COMPANY LIMITED BY GUARANTEEI Notes to the flnanclal statements for the year ended 31 August 2024 3.9 Legal status of the Trust The Trust is 8 company limited by guarantee and has no shale pital In the event ol the charity being wound up. the liability in respect of the guar8ntee is limited lo £10 per rnernbei of the charity. 4 Incomlng Resources The incoming resources and surplus are attributable lo the prinapal activities of the charity. Trustees confirm that all in¢ome of service level agreernent Is unre51rided unless mentioned otherwise INCOME SUMMARY 5 VOLUNTARY INCOME: Unrestricted Restricted 2024 2023 Other income 33.429 33,429 1,810 1.810 35,239 35,239 11,076 11,076 6 CHARITABLE ACTIVITIES INCOME.. Unreslricled Restricted 2024 2023 LBTH- Nuisery servic8 grants Nursery f&8S 455,798 58,407 514,203 455,796 58.407 514,203 305,508 58,212 363.720 Total Incgme 547,632 1,810 549.442 374,796
RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI Notes to the frnancial statements for the year ended 31 August 2024 7 VOLUNTARY COST: Unrestricted Restricted 2024 2023 Volunteers, expenses 2.468 2,468 3,960 3,960 2,468 8 CHARITABLE ACTIVITIES COST.. Unrestrided Restricted 2024 2023 Salaries and employment costs Stall training Cover teacher & casual staff Operating lease rental Rent & service charges payable Fees & subscriptions Insurances Study materials including stationeries Cleaning and health hygiene Repairs and maintenan Telephone and internel Childn toys and gifts After school dub expenses Tour. travels and charitable event refreshments 230,059 1.798 9.268 3,262 79.856 1,528 3,087 17,554 10,616 2,886 2,045 2,216 12,184 5,759 382,118 230.059 3.608 9,268 3,262 79,856 1.528 3.087 17.554 10.616 2.886 2,045 2,216 12,184 5,759 1,810 383,928 226.826 1.390 4.626 5.238 80,464 1,338 1,348 14.770 12.941 8.991 1.018 2.242 8.405 9,240 358,837 1,810 9 GOVERNANCE AND SUPPORT COST.. Unrestricted Restricted 2024 2023 ort Cost Salaries and employment ¢osls Rent & se1 charges payable Insurances Repair5 and maintenance Telephone and Internet Bank Charges Sundry Office Expenses Depreciation on FF and Equipment's 28,757 4.437 172 721 114 579 156 4,706 39,642 28,757 4,437 172 721 114 579 156 4,706 39,642 26,709 3.360 75 57 404 193 4,706 36,503 Governance Cost Salaries 8nd Wages including E'el NIC Rent & service charges payable InSUranS Telephone and Intemel Accountancy Fees Legal & Professional Fees 28,757 4,437 172 114 2,400 4,230 40,110 79,752 28.757 4.437 172 114 2,400 4,230 40,110 79,752 26,709 3,360 75 57 2,400 7,134 39.735 78,238 Total governance & support cost Total Expenses 464 338 439 03S 10
RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI Notes to the flnanclal statements for the year ended 31 August 2024 10 TANGIBLE FIXED ASSETS.. Leasehopd Property Furniture, Fixtures & Equiprnenl Tol81 Cost &IFwd Addition 70,583 31,054 101,637 70,583 31.054 101637 Depreciation.. Charges BIFwd Chaige lor the year 37,646 4,708 42,352 31,054 68.700 4.706 73,406 31,054 Net Book Value As at 31 August 2024 28,231 28,231 As at 31 August 2023 32.937 32.937 11 DEBTORS & PREPAYMENTS: 2024 2023 Rent deposits Fees debtors Prepayments 6,482 4,870 6,4SS 17,817 6,482 3,383 5,116 14,981 12 CREDITORS: AMOUNT FALLING DUE WITHIN ONEYEAR 2024 2023 Pension Accruals& deferred income Wage and PAYE 699 88,137 2,220 91056 66,891 2,801 13 Movement In Funds Free Reserve DeslgnatedJnrestri¢teileslricted Fund Fund Fund Total As al 1 September 2022 351,922 32,937 384,859 384,859 Current year surplu8ldelicit 83.294 83,294 83.294 Curienl ye81 Ir8FTrsfer 4.7( 14,7061 As at 31 August 2023 439,922 28,231 468,153 488,153 14 STAFF EMOLUMENTS.. 2024 2023 Totsl wages and salaries Employerfs NIC Pension wsls 275.661 8,459 3,453 287,573 267,092 9.122 4,030 280,244 Direct Charitable other5 230.059 57.514 287 573 226,826 53,418 Avg No ol employees." Admin Avg No of employees." Charitable 19 21 19 21 Employees paid in ex$$ of £60,000 during the current year and previous year None Non8
RAINBOW HOUSE GROUP I A COMPANY LIMITED BY GUARANTEEI Notes to the financial statements for the year ended 31 August 2024 15 RELATED PARTY TRANSACTIONS There were no related party transactions during the ye81 or prior year. 16 YAXATION The entity does not undertake non-charilable 8cbvities and is therefore entitled to tax exemptions with HMRC. 17 POST BALANCE SHEET EVENTS There were no significant Post balan sheet events lo report. 18 CONTINGENT LIABILITIES The company had no contingent liabilities as at 31 August 2024 or at 31 August 2023. 19 GIFTS IN KIND AND VOLUNTEERS During the year the companylcharity benefited from unpaid work performed by volunteers 20 Lease commitments.. At 31 August 2024 the charitable company had anriu81 commitments on comtneraal leases on property. The future minimurn non-c8ncèll8ble operating le8ses are as follows.. 2024 2023 Under one year Between 2-5 years More than 5 years 75.000 300.000 100,000 62.437 255.596 91,767 The entity had no capil81 cornmitments as at 3110812412023.. £nill 12