Ir Company registratl•)n number 2412455 {England and Wales) St George's Community Children's Project Limited StG ge's CHILDCARE DIRECTORS. REPORT AND AUDITED FINANCIAL STATEMENTS for the year ended 31 AUGUST 2023 KENT éwhitehead COMMUNITY FOUNDATION Chafitable FndatIon Monckton• *ACHXF02Q" 1212023 COWANIES H¢JJSE A13 LOIIEPI COL FERGUSSON LOTTERY FUNDED CMARITABLE TRUST
ST GEORGE'S COMMUNITYCHIiDREN'S PROJEcfuMITED CONTENTS Pagelsl 1-12 Oirectors. report 13- 16 Independent Auditorfs 17 Statement of financial artivities 18 Balance sheet 19 Statement of cash flows 20- 30 Notes to the accounts
STGEORGE'S COMMUNificHILDREWS PROJECT UMrrED DIREcfoRS' REPORT FOR THE YEAR ENDED 31 AUGUST 2023 The directors, who are also trustees for the purposes of the CharitTres Act 2011. present their annual report and the audited financial statements of the charitable company for the year ended 31 August 2023. This directors. report. prepared in accordance with Section 415 of the Companies Act 2006. is also the trustees, report required by the Charities Act 2011. The trustees confimi that the annual report and financial statements of the charity comply with the current. statutory requirements, the requirements of the charity's governing document and the provisions of "Accounting and Reporting by Charitie5-. 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 IFRS 1021" Icharities SORP IFRS 10211. Reference and Adminlstratlve Information CHARITY NAME St George's Community Children's Project Limited. Also krtown as St George's Childcare COMPANY NUMBER 2412455 (registered in Englandl CHARITY REGISTRATION NUMBER 802017 REGISTERED OFFICE AND PRINCIPAL ADDRESS 7 Chilston Road Tunbridge Wells Kent TN4 9LP INDEPENDENT AUOThORS ndeyer Francis Ferguson Limited Chartered Accountants North House 198 High Street Tonbridge Kent TN9 IBE 8ANKERS National We5tmin5ter Bank plc 89 Mount Pleasant Road Tunbridge Wells Kent TNI IPX CIF.8ank Ltd 25 Kings Hill Avenue. Kin85 Hill. West Mallin& Kent ME19 4JQ The Charity Bank Ltd Fosse House, 182 High Street Tonbridge TN9 IBE
srGÉORGE'S COMMUNITYCHILDREN'S PROJEcf UMrrED DIREcfoRS' REPORT l¢ontinued} FOR THE YEAR ENDED 31 AUGUST 2023 DIREcfoRS Adrian Crouch (Chairl Jason Fisher Lindsey Grant Julie Hughes Cenydd Milne Pauline Parker Steven Whittle Anna Youngson . Vijay Ray Iresigned 2519n0231 {appointed 2519120231 8VSINESS MANAGER Morgane Glew structure. G¢y4ernance and Mana8ement Companystatus St George's Community Children's Project Limited is a charitable Company limited by guarantee and has no share capital. In the event of a winding up, each member and those that have ceased bein8 a mernber within the previous twelve months, are limited to a liability of £1. The Company was incorporated on 10 August 1989 and is govemed by its Memorandum and Articles of Association. Governance The Board of Directors is responsible for selecting and recruiting suitable directors to office at the Annual General Meeting. In order to recruit new trustees. the board advertise on Do.it.or& the website and do posts on social media. The maximum number of directors that may be elected to the board is twelve and the minimum 15 three. Eight directors seNed in office during the year. The direttors may from time to time appoint any member of the company as a dirertor. either to fill a casual vacancy or by way of addition to the Board. provided that the prescribed maximum number of directors is not exceeded. Any member so appointed shall retain offKe until the next Annual General Meeting and is then eligible for re-election. Inductltyn oJdlrertors Individuals who are interested in becoming directors are invited to join a meeting where they are introduced to all the other members. They are asked to submit a CV and to complete the necessary forms for clearance through the Disclosure and Barring Service IDBSI. Each new director is given a Charity Commission b1klet explaining director5, responsibilitie5 and dates of available training relating to directors, responsibilities. Copies of the previou$ 12 month's meeting minutes are supplied, together with a pack containing the history of St George's. a list and CV of other dirertors, a copy of the charity's Memorandum and Artitles of Association, and the latest accounts from the preceding month. The charity's website and the prospectus are available to all new members to gain more information about the management and seNbces of the charity.
STGEORGE'S COMMUNITY CHILDREWS PROJECT LIMITED DIREcfoRS' REPORT Itontwbuedl FOR THE YEAR ENDED 31 AUGUST 2023 Organisationalstwcture The management of the charity is run by the Executive Committee. which consists of the serving dirertors and the Business Manager. The Board of Directors meet Month with the Business Manager where any issue5 or escalations are raised for discussion and resolution. The Executive Committee oversee the rest of the administrative team which comprises the Childcare Managers, a Deputy Childcare manager. a Staff Development Lead, a Finance Manager. a Fundraising Manager. an Office Manager and an Administrative AssistanVReceptTronist. The remuneration of the charl5 key management personnel is decided by the directors based on performance and achievement of agreed objectives for the year. It is communicated by the Chair after discussion with the Business Manager and the other directors. Objectives and Activities The overall aim of St George's IS to prowde a high standard of ¢hildcare for the local community. This encompasses.. the promotion of the mental. physical and spiritual wellbeing of children and young people, especially those in poor circumstances. those suffering from disability and incapacity of any kind and those who are deprived,. and the relief of children in need of care and protection by the Provision of day care facilities and fa¢ilits"es for such children outside of school hours and during school holidays. The nursery offers three categories of activity: A full day care Nursery Comprised of five afeas narnely Squirrels (babies- 1.5 years), Hedgehogs11.S- 2 years), Mole$12-3 years). and Badgers and Otters13-5 yearsl,. Little Dragons term time only preschool group {2.5-5 yearsl- and An Out of Hours facility incorporating After School Club for primary school children up to year 6 and Holiday Clubs. These artivities are run from the charl5 freehold property at 7 Chilston Road, Tunbridge Wells. The ¢hildcare service is offered to all sections of the community irrespertrve of ethnic, social and cultural differences and thereby encourages children to mix with and respect one another. In order to accomplish this, St George's uses social media. word of mouth and sometimes marketing advert15ernents placetl in targeted local publications. When providing assisted childcare places St George'5 aims to also gwe consideration to land in no order of preferencel:_ l. Children who have a parent suffering from either mental or physical disability. 2. Children who have been referred to St George's through another agency. 3. Children from families who are experiencing financial hardship.
STGEORGE'S COMMUNITY CHILDRE$ PROJEcf UMITED DIREoR5. REPORT lcontlnued) FOR THE YEAR ENDED 31 AUGUST 2023 4. Children from families experiencing emotionallstressful circumstances temporarily or lon8-term. 5. Children whose social or intellectual development is known to be delayed. 6. Children from homes where there is inadequate play space. In order to do this the tharity offers 5ubsidised places for childcare services. Special consideration 15 given to individual families as and when the need arises within all areas of the childcare. The Executive Committee reviews the number of a55iSted place5 offered each year and the Childcare managers review them on a case- by-case basis every 6 months if they need to be extended. in which case a form is sent to the family and criteria are assessed once again, forexample- where does the referral comesfrom. housing and employment situation, benefits being (eived. child special educational needs, detailed Circumstances etc. Subsidised places are made possible through the charl$ programme of fundraising. In order to meet the overall aim of providing high quality childcare St George's has categorised its aims in five ways= Communtynnks to provide a¢cess to all visitors to view our ser¥ices and facilities. to open orjoin communication links with other agencies. to share information and experiences with other agencie5. to open or join communication links with statutory a8encies. to provide optimum standards of Health and Safety for all indNiduals involved at St George's. to have sufficient expertise amongst the staff to cope with the minor medical problems of children and to deal confidently with emergency situation5. to be aware of the nutritional requirements of the growing child and how these needs can be met. to provide a good quality day care nufsery seThice for children from babies to five years old. to provide a good quality term time only preschool for children from two and a half years to school age. to prowde good quality Out of School Clubs for primary school children up to year 6. io provide subsidised places for disadvantaged children a5 predetermined. to provide a combination of excellent day care. after school and holiday care that can provide a continuous ser¥ice from babies up to year 6. Familysupport to provide a secure and carin8 environment in which parents will feel confident to leave their child. to offer a team of professional staff who are available for confidential discussion of each individual hild's needs. to maximise fvndraising potential in order to provide sub5idised places. to offer advice and support for parents of children with special needs. to offer opportunities for parental involvement in social, board management and fundraisinB activities.
STGEORGE'S COMMUNrrYcHILDREN'S PROJEcf UMITED DIREcfoRS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2023 to promote a positive ima8e of St George's and the e¥tellent childcare tt offers through social media such as our website. our Faobook, and our Instsgram page. St George'5 short-term airn5 are- Make sure St George's has sufficient subsidised places. Achieve the forecasted fundraising objective. Deliver consistent outcomes for all children across the setting. Creatively develop each chrld's potential. Deliver a personal learning and development plan for each staff member that achieves best practice within their roles. Review pay scales and benefits package to maintain competitive advantage. Involve our teams in the delivery of our plan. Maintain an operational bud8et. Mitigate and control risk. Maintain our operational assets (equipment. resources and pmpertyl. Develop a plan for an investment surplus. Develop innovative solutions across the setting. Develop a community network to raise the profile of St George's. Ensure our charity offering is relevant based on existing and changing local needs. Develop and encourage Eco-friendly ways across the setting . St George's long-term aims are= Maintain our'Outstandin8' OFSTED rating. Maintain or increase the occupancy. Retain staff by making sure our training and benefits package 15 competitrve. Provide a Clear pipeline and personal development plan for staff from apprentices to fully qualified ¢hildcare professionals. Consistently deliver outstandin8 childcare. Continue to develop and motivate our highly skilled team who are passionate working for St Georges. Deliver a surplus in order to maintain required working capital, to ensure funds are available in the event of unbudgeted expenditure and to reinvest into the setting. Successfully create an innovatwe and eco-friendly childcare setting. Maximise opportunities to support our community. The Executive Committee measures its success in a number of way5. but there a number of key indicators as follows.. The occupancy rates within each activity. A 6-month forecast is prepa monthly. which is reviewed by the board and the Business Manager. The number of assisted places it has been able to offer to parents who need support. Result5 of OFSTED inspertions. We are governed by OFSTED and follow the Early Years Foundation Stage IEYFSI.. the government framework that sets standards for care and learning in the early years.
STGEORGE'S COMMUNITYCHILDREN'S PROJEcf UMITED DIRECTORS. REPORT {contlnuedl FOR THE YEAR ENDED 31 AUGUST 2023 Feedback from parents or ¢arer5. Childcare managers meet with social workers and health visitor5, and regularly organise interviewswith family members so thatthechildcare managers can be informed about the behawour of their children and how their life is improving. Retention of permanerbt staff members. Monthly analysis of our management accounts for budget tracking purposes. Yearly parents and staff 5urvev In setting the objectives and planning the activities of St George's the directors have given careful consideration to the Charity Commission's general guidance on public benefit and to its supplementary public benefit guidance on advancing education and on fee charging. Review of achievernents During the year, St GetsrgÈ's experiènced a very good level of occupancy. and now we have a waiting list for places. This meant that we had to recruit more staff and we reviewed and updated OLsr staff benefits package. Throughout 2022123 we have had the windows replaced in the whole building. to ensure we are more ener efficient and refufbished our ground floor and basernent toilets. We installed a lockdown system and carried out an up8rade of our electrical circuits following an EICR (Electrical Installation Condition Report). The exterior of the main building was decorated, and the main roof was repaired. During early summer months we applied and received a grant to update our allotments. The work has been completed and we now offer the children a larger. safer area for learning about planting and growing. The last OFSTED inspection was in November 2019 and the St George's received an outstanding rating which shows the quality of childcare provided in the setting. Chlldren Nursery The nursery occupancy rates were good from September 2022. Occupancy rates for the year were 86% 12022: 88.6%). The Little Dra8ons' occupancy rates for the year were 87% {2022'. 83%). Aftersc101 C14 The club has been consistently well occupied with occupancy rates for the year of 81%12022: 84%). The Holiday Clubs has seen good numbers with occupancy rates for the year of 87%12022.- 81%). We have received many compliments from pantS abo¥Jt how much their children enjoy coming to the club.
STGEORGE'S COMMUNITYCHIiDREN'S PROJEcf UMITED DIREoR$. REPORT Icontinued) FOR THE YEAR ENDED 31 AUGUST 2023 The children are still fed from the marvellous kitchen and then have the opportunity to play both in and out of the building. Duringthe year. results of interviews and questionnaireswith parents were positive and showed the difference that St George's makes to children and their families. Results showed that 98.9% of parents are happy with the setting. which we are very proud about. Communication. caterin& buildin& and gardening improvements were a few areas that were highlighted. At the centre of the service, is the Senior Childcare Leader who is a high experieneed and qualified childcare professional. supported by Keyworkers who complete planning and next steps for the children including observations and assessments. Iconnect. an interartive tool, is used by the setting and parents. This enables the Key Person to create an Online Journal which parents can read and contribute to, to document the children's progress. Be5ide5 observations on learning and progress. this tool will include things like photos and videos. This investment ha5 enabled better sharing of information and feedback on each child which has helped develop consistent care both at nursery and at home. 5toff Recruitment within the sector has been challen8ing but we have been successful in recruiting and retaining talented staff through our practises and staff benefits. Our staff are bright. caring individuals who are a credit to the St George's team. In addition. they are mostly erther qualified orworking towards a qualification. A total of 4 staff either qualified or gained higher qualification thi5 year. The management team continues to work with each employee with a view to be a great place to work as well as a fantastic childcare establishment. This includes en5urin8 411 staff receive the necessary trainin& have supervision meetings every 6-8 weeks and a vearly appraisal where thr personal development plan and objertives are reviewed. The appraisal process was done in February and March 2023 and was followed by a Payscale exercise and pay inta$e in April 2023. Staff benefits package include.. 3 months. fully paid maternity leave. free childcare when staff are workin& holiday given between Christmas and New Year. pension scheme, Social events, 3¢¢ess to over 2fy) exclusive perks and discounts (discounted cinema tickets, money off meals OUL reduced membership fees1. free lunch, free flu jab. free uniforms. funded trainin& Cycle to work scheme etc. Fundraising ond Ivssistedpluces Although St George's runs a full time Nursery. term time only preschool. Afterschool and Holiday Club. it a150 undertakes Significant fundraising activities with the objective of being able to provide subsidised places for children in need. The 2022123 year saw St George's provide 17 children with such wbsidised places, at a cost of £15.372 for the year. St George's overachieved its fundraising targets in 20221231121%). mainly due to the Eenerous grants and donations we have received, our very 5ucce55ful Christrnas and Surnmer fairs, fundraising events like our Quiz Night and the London Marathon sponsored event.
ST GEORGE'S COMMUNITYCHILDREN'S PROJECT UMITED DIREcfoRS' REPORT {continuedl FOR THE YEAR ENDED 31 AUGUST 2023 St George's would like to thank the following individuals. grant bodies and organisations who have supported the charity during the year with significant fundraising activrties and donations: É2,250 Whitehead Monckton Charitable Foundation & Sir Brandon Gough Memorial Fund £2,500 Kent County Council Combirted Members Scheme £5,000 Colyer Fergusson Charitable Trust £8,500 Wards Emergency Support Fund- Arun Estates £io.tIOO The National Lottery. Awards for All £500 South East Watercommunity Fund £7.795 Norman Birch Legacy Gift £500 Cripps Sustainability Funding £2,000 Gatwick Airport Community Trust £5.000 Barretts Charitable Fund £1.494 Donation by parents £640 Donation from Little Owls Nursery £250 Donation from Handelsbanken The setting is sincerely grateful to each and every iftdividual. company. club. churth. trust and group that ha5 donated or volunteered their services. Without this help, St George's could not hope to help a5 many children as It does. In addition, St George's continues to be involved with The Mayorfs Toy Appeal. helping a large number of children each year to enjoy a better Christmas. The majority of St George's fundraising income is obtained through grant and trust applications and the support from those in our community. We do not carry out any fundraising activities where a professional fundraising agency is paid or where external fundraisers are atting on our behalf. Any fundraising activities that are undertaken are done so voluntarily and under the guidance of the Fundraising and Development Manager wherever p055ible. 8uildinq The building is close to 200 years old and. as such. requires a significant amount of work and upkeep to maintain a safe and comfortable environment a5 well as rÈtain its appealing nature for children. In order to ensure the setting provides a high standard forthe children. a number of building works have taken place in the year= New windows Decorating the outside of the building Upgrading the allotment area Lockdown system installed New toilets on ground floor and basement
STGEORGE'S COMMUNITYCHILDREWS PROJEcf UMITED DIREOR5. REPORT Itontinued) FOR THE YEAR ENOEO 31 AUGUST 2013 It is hoped that in the 2023n4 financial year, St George's will be able to secure some additional fundraisin& so that it can undertake some significant improvements throughout setting and the playground. Pension Staff who meet the legislative criteria are automatically opted in to the People'5 Pension and can pay 5% of their salary12% prior to April 20191 with St George's paying 3%. Staff can then opt out of pension payments rf they do not wish to utili5e it. Risk Management The board reviewthe risk register on a monthly basis and take appropriate actions Whe necessary. Currently. principal risks are considered to be.. The board could benefit in relevant skills in HR. employment law etc. Key staff absence. GDPR Compliance. Business continuity and planning. Retention of Staff. Building destruction by fire. L05s of IT equipment. Lockdown situation (building intrusion). Building maintenance. Public Perception. Running out of funding. Special diet compliance. Health and Safety. Loss of revenue following closure due to lockdown for pandemic. Exceptional building or grounds maintenance issue5. Pandemic Illness. Building security The board and the 8usiness Manager have identified these risks and put relevant measures in place to control them. for example, a recruitment plan for new board members. a review of the constitution, the creation of a continuity plan and cover plan for key Staff, the appointment of a Data Protection Officer and lock down drills and the reinforcement of the buildin<s security. Flnanrial Review Income for the year was £1.653.777 a 0.84% increase on É1.639,593 in 2022, this is explained by the increase in the demand for nursery places in our area due to people moving down from London to Tunbridge Wells. The total expenditure in the year was £1.611.447. This represents an 13.8% increase on the previous year of
STGE¢)RGE'S COMMUNITY CHILDREWS PROJECT UMITED DIREcfoRS' REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2023 £1,415,483, this is due to an increase in food and other operational overheads. as well as investment in staff recruitment and retention to maintain the best level of service for the children in our care. Éach year a budget 15 prepared to show a breakeven position to ensure St George's covers its costs. Capital projerts are either covered by specific fundraising campaigns or from reserves brought forward at the discretion of the directors. After review of St George's operational and running costs. the Board felt it nece553ry to increase the fees with effect from 1 September 2023. Great thought was taken in keeping the increase as fair and as reasonable as possible and across each area. but whilst enabling St George's to raise funds to cover staff costs and to carry out future improvements and renovations to the buildings and 8rounds. Reserves It is St George's w)licy to hold around £170.OLX) of free n$tr1ded resee$ representing six weeks, expenditure. Reserves are held to maintain required working capital and to ensure funds are available in the event of unbudgeted expenditure. It is St GeoFge's policy to maintain a balanced budget each year. The balance on total unrestricted funds at the year*nd was £1.162.02812022- £1,134,617). Of this amount free unrestricted reserves Iberng unrestritted reserves excluding funds only available on sale of fixed asset51 at 31 August 2023 totalled £419.43812022- É446.5951. St George's had designated funds of £121,36712022= £125.7671 represented by fixed assets. This comprises the building fund which represent5 a grant from the National Lottery that was used to purchase the freehold land and building. The fund is reduced each year in equal amounts and transferred to the general fund in line with the rate of depreciation charged on the freehold building. The level of restricted funds at the yearond which are not available for the general purposes of the charity are £18,96912022.. £4.0501. This represents specific grant5 and donations towards the 83rden £2,000, equipment of £3.028 and also funds for assisted places of £13,941. St George's accepts payments from 'Enjoy Benefit, which is a benefit that employers can offer their employees who have children in our setting. It is a benefit that is there to help employees with the cost of childcare at a nursery settin& by allowing them to save tax and Nl on their full monthly fees. In return, St George's gets donation of £100 per month per ¢hild to be spent on activities or resources beneficial to their child and the nursery. This financial year we receNed £3.4(Ki from Enjoy Benefrt5. Plans for future perlods The Board and Business Manager have plans to develop further St George's presence in the community bv liaising more directly with local companies and businesses with a view to seeking corporate sponsorship and presence and also raise the profile of St George's. so the communtty knows what the Charity does. io
ST GEORGE'SCOMMUNrtY CHILDREN'S PROJEcf LIMITED DIREoRs, REPORT {continued) FOR THE YEAR ENDED 31 AUGUST2023 There are also ongoing plans for improvements to the buildings and grounds of St George's with the view to keep the setting in the best condition possible for years to come.. Improvements and enhancements to the gardenlplayground Lobby door repairs New toilets and cubicles in our 2-3 years old room Redecorating of various rooms Improved CCTV 5tstement of Trustees, Responsibilities The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Company law requires the trustees to prepare financial statement5 for each financial year. Under that law the trustees have elerted to ppa the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Undef company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the surplus or deficit of the charitable company for that period. In preparing those financial statements. the trustees are required to= selert suitable accounting policies and then apply them consistentlv. obserne the methods and principles in the Charities SORP make judgements and e5timate5 that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed. subject to any rnatefial departures disclosed and explained in the finantial statements- and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the £haritabie company will continue in business. The trustees are responsible for keeping adequate accounting retords that are sufficient to show and explain the charitable compan¢s transactions and disclose 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 26. They are a150 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. ststement ol disclosure to auditors Each of the persons who a Trustees at the time when this Trustees. annual report is approved has confirmed that.. so far as that Trustee is aware. there is no relevant audit inforniation of whbch the charitable company's auditors are unaware, and li
STGEORGE'S COMMUNITYCHILDREN'S PROJEcf UMITED DIREORS, REPORT Icontinued) FOR THE YEAR ENDED 31 AUGUST 2023 that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to estsblish that the charttable company's auditors are aware of that information. Small Company Exemptlons This report has been preparetl in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2D)6. By Order of the Board Adrian Crouth Chair 12
INDEPENDENT ALIOITORS. REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMITED FOR ThE YEAR ENDED 31 AUGUST 2023 Oplnion We have audited the financial statements of St George's Community Children's Projert MIted Ithe'charitable cornpany'l for the year ended 31 August 2023 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the finantial statements. including a summary of significant accounting policies. The financial reporting framework that ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Finandal Reportlng Standard qpplkoble in the UK and Repvbk OA Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion. the financial statements= give a true and fair view of the state of the charitable CoMpanS affairs as at 31 August 2023 and of its incoming resources and application of re50urce5 for the year then ended- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 26. Basls for oplnlon We conducted our audit in accordancewith International Stsndards on Auditing IUKI IISAS IUKII and applicable law. OLtr responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that a relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for otjr opinion. Conclusions relating to going concern In auditing the financial staiements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve fflonths from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other informatlon The other information comprises the infomiation included in the annual report, other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and. except to the extent othen¥i5e explicitly stated in our report. we do not express any form of assurance conclusion thereon. 13
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'S PROJEcr UMITED FOR THE YEAR ENDED 31 AUGUST 2023 In connection with our audit of the finan¢ièl statements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material rni55tatements, we are required to determine whether there is a material misstaternent in the financial statements or a material misstatement of the other information. If. based on the work we have performed. we cortclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Act 21%)6 In our opinion. based on the work undertaken in the course of the audit: the information given in the tru5tees' reF)Qrt. which includes the dirertors, report prepared for the purposes of company law, for the fi"nan¢ial year for which the financial statements are prepared is consistent with the financial 5tatements,' and the directors, report included within the trustees, report has been Prepared in accordance with applicable legal requirements. Matters on whlch we are required to report excepl•on In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatemerbts in the director5, report included within the trustees. report. We have nothing to report in respect of the followin8 matters in relation to which the Companies Act 2006 requires us to report to you If. in our opinion= adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accounting records and retums: or certain (Jisclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit,. or the trustee were not entitled to prepare the financial statements in accordance with the small companie5 regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responslbilities of Trustee5 As explained more fully in the trustees, responsibilities statement set out on page 11. the trustees (who are a150 the dirertors of the charitable company for the purposes of company lawl a responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees detemiine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable compart5 bility to continue as a going concern, disclosing, as applicable. matters related to going Concern and using the going concern basi5 of accountinE unless the trustees etther intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. 14
INDEPENDENT AUDITOR5, REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'5 PROJEcr LIMITED FOR THE YEAR ENDED 31 AUGUST 2023 Auditorfs responslbllltles for the audlt of the Ilnancial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are ¢onsidered material if. individually or in the aggregate, they could reasonably be expected to influence the ecorMiC decisions of users taken on the basis of these financial statements. IrreEularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud. is detailed below. We obtained an understanding of the legal and regulatory framework applicable to the preparation of the financial statements of the charitable company and the procedures that management adopt to ensure complian¢e. We have considered the extent to which non•compliance might have a material effect on the financial statements, and in particular we identilied.. the Companies Art 2006, the Charitie5 Act 2011 and Charities SORP FRSIO2. We have also identified other laws and regulations that do not have a direct effect on the amounts or disclosures within the financial statements. but for which compliance is fundamental to the ¢hariVs operations and to avoid material penalties. including Employment law. Health and Safety Law, General Data Protection Regulation and regulations relating to safeguarding children with the key legislature being the Children and Social Work Act 2017. Having reviewed the laws and regulations appticable to the charity. we designed and performed audit procedures to obtain sufficient appropriate audit evidence. Specifically, we.. Selected a team with sector experience to perform the audit: Obtained an understanding of the charitable companvs procedures for ensuring compliance with laws and regulations,. Obtained and reviewed internal policy and procedure documents- Made enquiries of management and the trustees regarding whether they were aware of any actual or suspected incidences of non-compliance with laws and regulatTrons.' Obtained and reviewed meeting minutes,. Obtained and reviewed correspondente with the regulator and OFSTED reports- Reviewed legal expenses accounts for indications of any possible non-compliance- and Reviewed the cornpleteness and accuracy of any disclosure5 made in the financial statements. We asse55ed the susceptibility of the charitable companrfs financial statements to material misstatemenL including considerin8 how fraud might occur. This was perfomied by.. Making an assessrnent of the charitable companvs control environment. systems and tontrols including identifying any weakne55e5 and considering the risk of management override of controls,. Assessing the Susceptibility of the charitable CoMpanSfInanClal statements to material misstatement. including considering how fraud could occur.. 15
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ST GEORGE'S COMMVNfry CHILDREN'S PROJEcr LIMITED FOR THE YEAR ENDED 31 AUGUST 2023 Considering whether the are any incentives or opportunities for management to manipulate financial results- Obtaining and evaluating the trustees, assessment of the risk of fraud, and enquiring a5 to whether they are aware of any actual or susperted incidences of fraud.. Reviewing the accounting policie5 and accounting estimates for signs of management bia5: and Identifying key risks relating to irregularities as relating to revenue recognition including fraud. the completeness and accuracy of parent balances and deposits. compliancewith laws and regulations and the risk of management override of controls. We then designed audit procedures in response to the risks identified. including performing substantive analytical review and tests of detail on income. substantive tests and circularisation on parent balances and deposits. a review of Ofsted reporrs an¢J correstK)ndence, sample testing of staff D8S checks, and VIewIng key accounting estimates and the appropriateness of journal entries. The audit has been planned and performed in in accordance with auditing standards. however, because of the inherent limitations of audit procedures there remains a risk that we will not detect all irregularities, including those that may lead to material misstatements in the financial statements. There are inherent difficulties in detecting irregularities. and irregularities that result from fraud may be more difficult to detect than irregLtlarities that result from error, for example due to Concealment. override of controls, collusion or misrepresentations. In addition, the further removed non-compliance with laws and regulations is from the events and transaction5 reflected in the financial statements, the less audit procedures are able to identify it. A further descriptron of our respoftsibFlities forthe audit of the financial statements is located on the Financial Reporting Council's web51te at.. www.fr udit This description forms part of our Auditors. report. Use of our report This report is made solely to the charitable Compan$ mernber5, as a body, in accordante with Chapter 3 of part 16 of the Companies Act 2006. Our audit work ha5 been undertaken 50 that we might state to the charitable companws members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or a55ume responsibility to anyone other than the charitable company and. the charitable companVs members as a body. for our audit work. for this report, or for the opinions we have fom)ed. Amy Healey FCA CTA DChA Senior Statutory Auditor For and on behalf of.. Lindeyer Francis Ferguson knrnited Statutory Auditors Chartered Accountants North House 198 High Street Tonbridge KentTN9 IBE 281ii/a3 16
ST GEORGE'S COMMUNITY CHIiDREN'S PROJECT UMITED STATEMENT OF FINANCIAL AcnviTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR ThE YEAR ENDED 31 AUGUST2023 Unmtrirted Restrlrted Funds Funds 2023 2023 Tot41 Fuftds 2023 Totol Funds 2022 Income from: Donations and legacies Charitable activities Other trading artivities Investments 17,348 1,572,789 26,094 3,S46 51,348 1,572,789 26,094 3,546 39,975 1,586,297 13,602 79 Total income 1,619.777 34.0(Kl 1,653,777 1,639,953 Expend5ture on: Raising fund5 Charitable activities 32.616 1.559.750 32,616 1,578,831 22,187 1,393,296 19.081 Total expenditure 1.592,366 19,081 1,611,447 1.415.483 Net Income io 27.411 14,919 42,330 224,470 Transfers between funds Net movement in funds 27,411 14,919 42.330 224,470 Reconciliation of funds: Total funds brought forward 1,134.617 4,050 1.138.667 914.197 Total funds ¢arrled forward 14 1.162.028 18.969 1.180,997 1,138,667 17
ST GEORGE'S COMMUNITY CHIiDREN'S PROJE UMITED BALANCE SHEET ASA T31 AUGUST2023 2023 2023 2022 2022 Notes Fixed assets Tangible assets li 742,590 688,022 Current assels Debtors Cash at bank and in hand 12 67.208 556.612 47.671 571,368 623.820 619,039 Creditors.. amounts falling due within ¢)ne year 1185.4131 1168,3941 Net current assets 438.407 450.645 Totsl net 05sets 1,180.997 1.138.667 Funds Unrestricted fund5 Restricted funds 1,162,028 18.969 1,134,617 4.050 Total fvnds 14 1.180.997 1.138.667 These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 26 relating to small companies. The financial statements were approved by the Board of Trustees on 27 .N. j E.ty.F.X..L....... and were signed on it5 behalf by= Adrian Crouch Cha5r Company number.. 2412455 18
ST GEORGE'S COMMUNITY CHILDRÉN'S PROJEcf UMITED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST2023 2023 2022 Notes Cash flows from operatin8 arti¥ltles: Net cash provided by operating activities 71.169 234,752 Cash flows frorn investin8 artivilies: Purchase of tan8ible 35sets 185,9251 157,8181 Net cash used in investing activities 185,9251 157.8181 Change In cash and ush equl¥alents for the year 114.7561 176,934 Cash and Cash equivalefits at the beginning of the year 571.368 394,434 Cash and cash equivalents at the end of the year 556,612 571.368 A Reconciliatlon of net income to net cash flow from operating activities Net income 42,330 224,470 Adjustments for: Depreciation {Increasel I decrease in debtors Increase / Idecreasel in Cfeditors 31.357 { 19.5371 17,019 26,560 7,618 123,8961 Net cash provided by operatln8 arti¥ities 71.169 234,752 19
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMITED NOTES TO THE FINANCIAL STATEMEiirs FOR THE YEAR ENDED 31 AUGUST2023 STATUS St George's Community Children's Project Limited is a charitable company incorporated in England and Wales. It is limited by guarantee and has no share capital. In the event of a winding up. each member and those that have ceased being a member within the previous twelve months. are limited to a liability of £1. The address of the registered office is 7 Chilston Road, Tunbridge Wells, Kent. TN4 9LP. ACCOUNTING POUCIES The principal accounting policFes adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: 2.1 8asls of preparatlon The financial 5tatement5 have been prepared under the historical cost convention in attordance with 'Accountin8 and Reportin8 by Charities.. Statement of Recommended Practice applicable to charities preparing their accounis tn accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (Effective I january 20191- (Charities SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. St George's Community Children's Project Lirnited meets the definition of a public benefit entity under FR5 102 as it aims to provi(Je a high standard of childcare for the local community. There are no material uncertainties about the charity's ability to continue, and so the going concern basis of accounting has been adopted. The financial statements are prepared in pountls sterlin& which is the functional currency of the charity, and rounded to the nearest £1. 2.2 Incomlng resources All incoming resources are included on the Statement of Financial Activities when the charitv 15 legally entitled to the income. the receipt is probable and the amount can be quantified with reasonable accuracy. For donation5 this is usually on receipt. For grants this is usually when a formal offer is made in writin& unless the grant Contains terms and conditions outside of the charity's control. which rnu5t be met before the charity is entitled to the funds. Incorning resources from charitable artivities have been analysed by the three activities undertaken by the charity, namely Nursery, After School Club l Holiday Club. and Little Dragons. The income is recognised to the eytent that the charity has provided contracted services. Fees received in advance or income to which the charitable company is not yet entitled is accounted for as deferred income. 20
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT UMWTED NOTES TO THE FINANCIAL STATEth*lErirs FOR THE YEAR ENDED 31 AUGUST2023 ACCOUNTING POLICIES Icontlnuedl 2.2 Incoming resources continued Fundraising income is recognhsed when the event takes place. Rental income is recognised in the period to which it relates. The charitable company is not registered for VAT. 2.3 Resource5 expended Liabilities, antl related expendrture. are recognised when a present legal or constructive obligation exist5 at the balance sheet date as a result of a past event. it is probable that a transfer of economic benefits will be reqvbred to settle the obligation. and the amount can be measured or estimated reliably. Expenditure is accounted for on an accruals basis and ha5 been classified under headings that aggregate all costs related to the category and indudes irrecoverable VAT. Direct costs have been charged to the artivty to which they relate. Support costs and direct costs not relating to one activity in particular have been allocated to the three artivities undertaken bv the charity on the basis of the direct staff costs attributable to each activity. Governance costs include those costs directly associated with the general running of the charity. as opposed to the direct management functions inherent in generating funds and service delivery and are included in SUPPOrt costs. 2.4 Taxatlon The charitable company is exempt from corporation tax on its charitable artivities. 2.5 Fund a£countin8 General fund5 can be used in accordance wth the charitable objertives at the discretion of the trustees. Designated funds are unrestricted funds which the trustees have designated to be used for a particular purpose. Restricted funds can only be used for the particular restricted purposes within the objects of the tharity. Restrirtions arise when specrfied by the donor or when funds a raised for particular restricted purposes. 21
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMITED 140TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 ACCOUNTING POUCIES {continued) 2.6 Tan8lble fixed aets and depreclatlon Tangible fixed assets are capitalised above £1,000 and are stated at cost less depreciation. Depreciation is provided at rates calculated to writè off the cost less èstimated realisable value of each asset over its experted useful life,"as follows= Buildings main fabric & strurture Roofs Windows and external doors Bathroorns Heating systems Kitchens Fixtures, fittings and equipment Over 50 years Over 40 years Over 10 years Over 10 years Over 20 years Over 20 years Over 4 years A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfa115 between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities. 2.7 Financial instruments The charity's basi¢ financial instruments are initially recognised at transartion value and subsequently measured at amortised cost. 2.8 Penslon scheme The charity operates a defined contribution pension scheme for its employee5. The assets of the scheme are held Separately from those of the charity in an independently administered fund. The pension cost represenis contributions payable by the charity to the fund. The pension expense is recognised across activities on the same basis as all other expenditure. 2.9 Leaslng Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 22
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf UMifED NOTES TO THE FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 AUGUST2023 IYONATION5 2023 2022 Grants and donations Legacies 43,553 7.795 39.975 51.348 39,975 In the prior year the charity received £29.344 in restricted grants and donation5. INCOME FROM CHARITABLE AcrivmES- 2023 terschool & Holld¢ry Draqons Total Fees receivable 1.329.357 123,682 119,750 1,572,789 INCOME FROM CHARITA8LE ACTIVITIES- 1022 a Hdidoy Fees receivable 1,338,332 132.002 115,963 1,586,297 OTHER TRADING AcfiviTIES 2022 Fundraising activities 26,094 13,602 26,094 13,602 In the prior year the charity received £9.704 restricted income from other trading activities. 23
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 COSTS OF RAISING FUNDS 2023 2022 Fundraising costs Staff costs (Note 91 11,916 20,700 10,531 11,656 32,616 22.187 COSTS OF CHARThABLE AcnviTIES- 2023 Afterschool a Hoiwoy aubs Total Direct costs.. Staff costs INote 91 Other direct cost5 938.895 120.222 36,870 16.185 68.111 17.105 1.043.876 153,512 1.059.117 53.055 85,216 1,197,388 All¢¢ated support costs (Note 81 344.634 12.626 24,183 381,443 Total costs 1.403.751 65.681 109.399 1.578,831 cosrs OF CHARITABLE ACTMTIES- 2022 8 Hollday Clubs Totol Dirert costs= Staff costs (Note 91 Other direct costs 799.572 117.133 43.350 4.706 67.870 7.950 910,792 129,789 916,705 48,056 75,820 1,040,581 Allocated supwrt costs (Note 81 307.638 16.648 28.429 352,715 Total costs 1,224,343 64.704 104.249 1.393.296 In the prior year, the charity spent £21.454 from restricted funds in relation to 115 charitable activities. 24
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf IIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 SUPPORT COSTS 2023 2022 Staff costs {Note 91 Administrative expenses Premises costs Accountancy and payroll f Depreciation Govemance costs Audit fees Legal and professional fees IfAI.857 19.1)IXJ 149.268 5.559 31.357 136,961 25,993 143,456 4,636 26,560 8.840 6.562 9.169 5,940 381,443 352,715 STAFF COSTS The average number of employees during the year, by headcount, was: 2023 2022 Nursery After School Club and Holiday Club Little Dragons Administration 45 17 15 74 68 Staff costs comprise= 2023 2022 Gross salaries Employer's National Insurance Pension costs Staff recruitment Freelance and temporary staff 1.120.730 S7.857 26,359 11,344 9,143 954,534 53,925 21,828 12,039 17,083 1,225,433 1,059,409 25
ST GEORGES COMMUNITY CHILDREN'S PROJECT UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 STAFF COSTS Icontinuedl There are no employees with emoluments above £60.OtM)12022.' nonel. One trustee, Pauline Parker. was remunerated £8.212 for her role as Nursery Staff during the year 12022- £7,462), which includes pensions contributions of £239 12022: £2171. Thi5 is allowed under provision 4a of the governing docurnent. There were no other trustee's remuneration Of Other benefits in the current or prior period. No trustees12022.. none) were reimbursed during the year for expenses. 10 NET INCOME 2023 2022 Net income is stated after charging= Audit fees Depreciation Operating lease payments 8.840 31,357 10,738 9,169 26,560 11,952 11 TANG18LE FIXED ASSETS Total Cost At I September 2022 Additions Oi5posals 823.645 75,856 173,5891 98.138 10.069 921.783 85.925 173,5891 At 31 August 2023 825.912 108.207 934,119 Oepreciation At I September 2022 Charge for the year Eliminated on disposal 162.462 19,622 173.5891 71,299 11,735 233,761 31.357 173.589} At 31 August 2023 108.495 83.034 191,529 Net book value At 31 August 2023 717.417 25.173 742.590 At 31 August 2022 661.183 26,839 688,022 Included in land and buildings above is the cost of freehold land of £189.62612022- £189,626) which is not depreciated. 26
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU5T2023 12 DEBTORS 2023 2022 Trade debtors Prepayments and accrued income 41,982 25,226 29,175 18,496 67,208 47,671 13 CREDITORS: AMOUNTS FAWNG DUE WTTHIN ONE YEAR 2022 Trade creditors Taxes and social security costs Other creditors Accruals and deferred income 43,054 18,271 47,889 76,199 22,847 13,662 44,926 86,959 185.413 168,394 Deferred income Income deferred from the previous year Released to the statement of financial activities Arising durfng the wrrertjyar." Fees in advance 10,565 { 10,5651 66,023 166,0231 754 10,565 754 10,565 27
5T GEORGE'S COMMUNITY CHILDREN'S PROJECT UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED31 AUGU5T2023 14 MOVEMENT ON FUNDS At I Sept 2022 At31 Auq 2023 Current year Unrestrirted funds General fund I,(M]8.850 1.619.777 11,587.966) 1,040,661 Designated funds Building fund 125,767 14,4001 121.367 1.134.617 1.619.777 14.4001 1,162,028 Restrlcted funds Assisted places fund Garden fund Equipment fund 314 29,0 l 15,3731 13.0001 17081 13.941 2,000 3,028 3.736 4,050 34,(K>) 119,0811 18,969 Total fund5 1.138,667 1.653.777 123,4811 1.180,997 Ati *t thcomh 2021 At31 Aug Prlor year Transfrr Unrestricted funds General fund 778.831 1.610.609 { 1.389,6291 9.039 1.008.850 Oesignated fund5 Building fund 130.167 14.4001 125,767 908.998 1.610.609 14.4001 9,039 1,134,617 Restricted funds Assisted places nd Equipment fund 1,463 3.736 19,640 9,704 120,7891 16651 19.039.Wl 314 3.736 5,199 29.344 121.4541 19,0391 4,050 Total funds 914.197 1,639.953 125,8541 1,138.667 28
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf UMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 14 MOVEMENT ON FUNDS {continuedl Buildin8 fund The building fund represent5 a lottery grant which wa5 set aside by the trustees and utilised to purchase the freehold premise5. Part of the depreciation char8e is charged to the building fund each year. Assisted places fund The assisted places fund5 represents grant5 and donations received that were erther restricted to, or have been allocated to. the provision of sub5idised places. Equipment fund This fund represents specific Brants and donations received for the purchase of equipment and/or toys. Garden fund This fund repfesents grants and donations received to make improvements to the playground. It will be used towards resurfacing the concrete. adding a sensory trail and sail shades, removing existing wooden polls to open up the space. and installing a new climbing frame. IS ANALYSIS OF NET ASSETS BETWEEN FUNDS fvnds 2023 Totolfvnds 2023 Current year 2023 Tangible fixed assets Net current a55Èts 742.$90 419.438 742,590 438.407 18.969 1,162.028 18,969 1,180,997 fvnds 2022 fvftds Totalfvnds 2022 2022 Prlor year Tangible fixed assets Net current assets 688,022 446.595 688.022 450,645 4,050 1.134.617 4.050 1.138.667 29
ST GEORGE'S commi1N CHILDREN'S PROJECT UMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2023 16 OPERAnNG LEASE COMMITMENTS At 31 August 2023, the charitable company is committed to future minimum lease payments under non-cancellable operating leases as follows: 2023 Due not later than one year Due later than one year but not later than five years 8.973 14,709 10,665 23,681 23.682 34.346 17 RELATED PARTY TRANSAloN$ The charity's key management personnel for the year ended 31 Au8USt 2023 are considered to be the Trustees and the 8usiness Manager. Total emoluments, including employer's pension contribution5 and employer's NIC. paid in respect of key management personnel were £87.241 12022.. £58,430). In aggregate. trustee donations were £Nil12022.. £1501. 30