Company reglstratlon number 2412455 (England and Walesl St George's Community Children's Project Limited StGe- ge's CHILDCAIIE DIRECTORS, REPORT AND AUDITED FINANCIAL STATEMENTS for the year ended 31 AUGUST 2024 KENfT Whitehead Monckton • L()XIhll IN ITI" FC)I":NII.4TIC) ChaTitable Foundation L(YIEk COLYER FERGUSSON LOTTERY FUNDED C.MARITAAI E TRIJST
STGEORGE'S COMMUNrrY CHILDREN'S PROJEcf UMITED CONTENTS Pagels) 1-12 Directors, report 13- 16 Independent Auditor's report 17 Statement of financial activities 18 Balance sheet 19 Statement of cash flows 20 - 32 Notes to the accounts
STGEORGE'S COMMUNITYCHILDREN'S PROJEcf LIMITED DIRECTORS, REPORT FOR THE YEAR ENDED 31 AUGUST 2024 The directors, who are also trustees for the purposes of the Charities Act 2011, present their annual report and the audited financial statements of the charitable company for the year ended 31 August 2024. This director5, report, prepared in accordance with Section 415 of the Companie5 Art 2006, is also the trustee5' report required by the Charities Act 2011. The trustees confirm 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 Reportingstandard applicable in the UK and Republicof Ireland IFRS 102)" ICh3rities SORP IFRS 102)). Reference and Administrative Information CHARITY NAME St George's Community Children's Project Limited, Also known as St George's Childcare COMPANY NUMBER 2412455 (registered in England) CHARITY REGISTRATION NUMBER 802017 REGISTERED OFFICE AND PRINCIPAL ADDRESS 7 Chilston Road Tunbridge Wells Kent TN4 9LP SENIOR STATUTORY AUDITOR Amy Healey FCA CTA DChA Llndeyer Francis Ferguson Limited Chartered Accountants North House 198 High Street Tonbridge Kent TN9 IBE BANKERS National Westminster Bank plc 89 Mount Pleasant Road Tunbridge Wells KentTNI IPX CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ The Charity Bank Ltd Fosse House 182 High Street Tonbridge TN9 IBE
ST GEORGE'S COMMUNrrY CHILDREN'S PROJEcf LIMITED DIREcfoRS' REPORT Icontlnued} FOR THE YEAR ENDED 31 AUGUST 2024 DIRECTORS Adrian Crouch {Chair) Ja50n Fisher Llndsey Grant Julie Hughes Cenydd Milne Pauline Parker Steven Whittle Anna Youngson Vijay Ray Charlotte Fisher Edward Hadley Iresigned 2911/2024) Ireslgned 251912023) (resigned 0416/2024) (appointed 251912023) lappointed 24/6/2024) lappointed 241612024> BUSINESS MANAGER Morgane Glew Structure, Governance and Management Company Stutus 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 being a member within the previous twelve months, are limited to a liability of £1. The company was incorporated on 10 August 1989 and is governed by its Memorandum and Articles of Association. Govemance 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.org, 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 is three. Eight directors served in office during the year. The directors may from time to time appoint any member of the company as a director, 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 office until the next Annual General Meeting and is then eligible for re-election. Durlng the year the trustees set up a wholly owned subsidiary in the name of St George's Childcare Limited. The company is incorporated in England and Wales (no. 15459281 with the same registered office as the charity. The company is dormant and has been created in order to retain the charity's trading name. Induction of directors 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 Seriice IDBSI and OFSTED.
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED DIRECTORS, REPORT (contlnued} FOR THE YEAR ENDED 31 AUGUST 2024 Copies of the previous 12 month's meeting minutes, a copy of the charit¢5 Memorandum and Articles of Association, the latest accounts from the preceding month are availableto new directors. The charitvswebsite and prospectus are also available to all new members to gain more information about the management and services of the charity. Oryanisational Strncture The management of the charity is run by the Executive Committee, which consists of the serving directors and the Business Manager. The Board of Directors meet monthly with the Business Manager where any issues or escalations are raised for discussion and resolution. The Business Manager oversees the rest of the administrative team which comprises three Childcare Managers, a Deputy Childcare manager, a Finance Manager, a Fundraising Manager, an Office Manager, an Administrative Assistant/Receptionist and a Maintenance Manager. The remuneration of the charitrfs 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. Govemonce offvndrnising With regard to fundraising standards, St George's Community Childcare Project Limited is registered with the Fundraising Regulator, and acts in accordance with the Fundraising Regulator's Code of Practice, which sets out the standards wlth which a charity should comply. The Code can be found online at: htt www.fundrai in re ulator.or co Objectlves and Activities The overall aim of St George'5 is to provide a high standard of childcare for the local community. This encompasses: the promotion of the mental, physical and 5pirltual 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 facllities and facilities for such children outside of school hours and during school holidays. The nursery offers three categories of activity: Afull day care Nursery comprised of five areas namely Squirrels (babies- 1.5 years), Hedgehog511.5- 2 years), Moles (2-3 years), and Badgers and Otters (3-5 years}; Little Dragons term time only preschool group12.5-5 years); and An Out of Hours facility incorporating After School Club for primary school children up to year 6 and Holiday Clubs.
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMrrED DIRECTORS. REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 These activities are run from the charitVs freehold property at 7 Chilston Road, Tunbrldge Wells. The childcare service is offered to all sections of the community irrespertive of ethnic, social and cultural differences and thereby encourages children to mix with and respect one another. In orderto accomplish this, St George's uses social media, word of mouth and sometimes marketing advertisements placed In targeted local publications. When providing assisted childcare places St George's aims to also give consideration to (and in no order of preference):. 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. 4. Children from families experiencing emotional/stressful circumstances temporarily or long-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 charity offers subsidised places for childcare services. Special consideration is given to individual families as and when the need arises within all areas of the childcare. The Executive Committee reviews the number of a5515ted 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 fonn 15 sent to the famlly and criteria are assessed once again, for example, where does the referral comesfrom, housing and employment situation, benefits being received, child special educational needs, detailed circumstances etc. Subsidised places are made possible through the chariws 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; Communlty links to provide access to all visitors to view our services and facilities. to open orjoin communication links with other agencies. to share information and experiences with other agencies. to open orjoin communication links with statutory agencies. Health andsafety to provide optimum standards of Health and Safety for all individuals 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 situations, to be aware of the nutritional requirements of the growing child and how these needs can be met.
ST GEORGE'S COMMUNrrY CHILDREN'S PROJECT LIMITED DIRECTORS, REPORT Icontinued) FOR THE YEAR ENDED 31 AUGUST 2024 Chlldcarefvcllltles to provide a good quality day care nursery service 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 provide good quality Out of School Clubs for primary school children up to year 6. to provide subsidised places for disadvantaged children as predetermined. to provide a combination of excellent day care, after school and holiday care that can provide a continuous seniice from babies up to year 6. Fqmlly support to provide a secure and caring 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 child's needs. to maximise fundraising potential in order to provide subsidised place5. to offer advice and support for parents of children with special needs. to offer opportunities for parental involvement in social, board management and fundraising activities. Media to promote a positive image of St George's and the excellent childcare it offers through social media such as our website, our Facebook, and our Instagram page. St George's short-term aims are.. Make sure St George's has sufficient subsidised places. Achieve the forecasted fundraising objective. Deliver consistent outcome5 for all children across the setting. Creatively develop each child's potential. Deliver a personal learning and development plan for each staff member that achieves best practice within their roles. Consistently monitor staff engagement. Review pay scales and benefit5 package to maintain competitive advantage. Involve our teams in the delivery of our plan. Maintain an operational budget. Mitigate and control risk. Maintain our operational assets (equipment, resources and property). Develop a plan for an investment surplus. Diversify our savings options to minimise risks. 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 and build on our Eco-friendly credential5. Communicate clearly our charitable offerings with parents. Invest in charitable venture in our communlty.
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED DIRECTORS, REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 St George's long-term aims are: Maintain our'Good' OFSTED rating and regain Our'Outstandln OFSTED rating. Maintain or increase the occupancy. Retain staff by making sure our training and benefits package is competitive. Provide a clear pipeline and personal development plan for staff from apprentices to fully qualified childcare professionals. 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 expend our provision and create an innovative and sustainable childcare setting. Maximise opportunities to support our community. The Executive Committee measures its success in a number of ways, but there a number of key indicators as follows: The occupancy rates within each activity. A 10-month forecast is prepared 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. Results of OFSTED inspections. We are governed by OFSTED and follow the Early Years Foundation Stage IEYFS); the government framework that sets standards for care and learning in the early years. Feedback from parents or carers. Childcare managers meet with social workers and health visitors, and regularlyorganise interviews with family members sothat thechildcare managers can be informed about the behaviour of their children and how their life is improving. Retention of permanent staff members. Monthly analysis of our management accounts for budget tracking purposes. Yearly parents and staff survey. In setting the objectives and planning the activitie5 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 achlevements During the year, St George's experienced a good level of occupancyi and currently has waiting lists up to 2026 to 2028 depending on the rooms. Throughout 2023124 we have had our entire playground redesigned and new toilets put up in Moles, children and staff toilets. 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.
ST GEORGE'S COMMUNrrY CHILDREN'S PROJEcf LIMITED DIREcfoRS' REPORT Icontlnued) FOR THE YEAR ENDED 31 AUGUST 2024 Children Nursery The nursery occupancy rates were good from September 2023. Occupancy rates for the year were 82%12023: 85%), slightly less than the previous year due to more some spaces being reserved for children moving up and therefore not free for bookings of new children. By advertising our free 'Ad Oc, sessions to existing parents we have been able to add an extra £20.5K to our revenue this Financial Year. Llttle Dmgons The Little Dragons, occupancy rates for the year were 85%12023: 87%) this Is due to two-year-old children starting later in the term after their third birthday due to ratios. AfterSd aub The club has been consistently well occupied with occupancy rates for the year of 88%12023: 81%}. We have been fully booked everyday apart from Fridays, we also have a long waiting list for these days. Holidoy Club The Holiday Clubs has seen good numbers with occupancy rates for the year of 96%12023: 87%). We have received many compliments from parents about how much their children enjoy coming to the club. We have set up a new online booking system with BookPebble.co.uk, which enables parents to book their child's places and pay online by credit cards or childcare vouchers. Staff are also able to book using the platform and use a discount code. The children a fed from the marvellous kitchen and then have the opportunityto play both in and out of the building. The children also get the opportunity to go on outings to local parks and to attractions like theatre shows etc. During the year, results of interrfiews and questionnaireswith parentswere positive and showed the difference that St George's makes to children and their families. Results showed that 95% of parent5 ale very happy with the 5etting• which we are very proud about. Communication, catering, buildinE, and gardening improvements were a few areas that were highlighted. At the centre of the service, is the Senior Childcare Leader who is a highly experienced and qualified childcare professional, supported by Keyworkers who complete planning and next steps for the children including observations and assessments. Connect, an interactive 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. Besides observations on learning and progress, this tool will include things like photos and videos. This investment hasenabled better sharing of information and feedback on each child which has helped develop consistent care both at nursery and at home.
STGEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED DIRECTORS, REPORT {continued) FOR THE YEAR ENDED 31 AUGUST 2024 Staff Recruitment within the sector has been challenging 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 either qualified or working towards a qualification. One member of staff qualified this 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. Our Staff Development Lead is here to support staff and organise necessary training to suits their needs and requirements of St George's. This includes ensuring all staff receive the necessary training, have supervision meetings every 6-8 weeks and a yearly appraisal where their training needs and achievements are reviewed. The appraisal process was done in February and March 2024 and was followed by a Payscale exercise (due to the National minlmum Wage increasing in April 2024) and a pay increase in April 2024. Staff benefits package include.. 3 month5, fully paid maternity leave, free childcare when staff are working, holiday given between Christmas and New Year, pension scheme, social events, acce55 to over 200 exclusive perks and discounts (discounted cinema tickets, money off meals out, reduced membershlp fees), free lunch, free flu jab, free uniforms, funded training, Cycle to work scheme, regular treats like breakfast, snacks etc. Fundmising ond a$StedplaCes Although St George's run5 3 full time Nursery, term time only preschool, Afterschool and Holiday Club, it also undertakes significant fundraising activities with the objective of being able to provide 5ubsidised places for children in need. The 2023124 year Saw St George's provide 14 children with such subsidi5ed places, at a cost of £11,375 forthe vear. St George's exceeded the fundraising target for 2023/24 by 59Yo. Funds came from generous grants and donations we have received, our very successful Christmas and Summer fairs, and fundraising events like our Quiz Night, Photoshoots, Golf Day and Tunbridge We115 Marathon. 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 activities and donations: £5,000 Colyer Ferguson £6,000 Kent Community Foundation £2,500 Groundwork £9,312 Kent County Council - additional support £4,000 Enjoy benefits £500 Donation Handelsbanken
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMrrED DIRECTORS. REPORT (continued) FOR THE YEAR ENDED 31 AUGUST 2024 The setting is sincerely grateful to each and every individual, company, club, church, trust and group that has donated or volunteered their services. Without this help. St George'5 could not hope to help as 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 acting on our behalf. Any fundraising activities that are undertaken are done so voluntarily and under the guidance of the Fundraising and Development Manager wherever possible. Bullding The building is close to 2(K) years old and, as such, requires a significant amount of work and upkeep to maintain a safe and comfortable environment as well as retain its appealing nature for children. In orderto ensure the setting provides a high standardforthe children, a numberof building works have taken place in the year.. New playground New children and staff toilets in Moles It 15 hoped that in the 2024125 financial year, St George's will be able to secure some additional fundraising, so that it can undertake some significant improvements throughoutthe setting. Penslon Staff who meet the legislative criteria are automatically opted in to the People's Pension and can pay 5% of their salary (2% prior to April 20191 wlth St George's paying 3%. Staff can then opt out of pension payments if they do not wish to utilise it. Rlsk Management The board review the risk register on a monthly basls and take appropriate actions where 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.
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED DIREcfoRS' REPORT Icontinued) FOR THE YEAR ENDED 31 AUGUST 2024 Building destruction by fire. Loss 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 issues. Pandemic Illness. Building securitv. The board and the Busine55 Manager have identified these risks and put relevant measures in place to control thern, for example, a review of the constitution, the creation of a continuity plan and cover plan for key staff, the monitoring of our building maintenance report, lock down drills and the reinforcement of the building's security. Financial Review Income for the year was £1,786,909 an 8.05% increase on £1,653,777 in 2023. The total expenditure in the vear was £1,761,111. This represents an 9.29Yo increase on the previous year of £1,611,447, 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. The increase in the National Minimum Wage in April 2024 also impacted on our expenditures. Each year a budget is prepared to show a breakeven position to ensure St George's covers its costs. Capital projects 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 necessary to increase the fee5 With effect from I September 2024. 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 grounds. Reseryes It is St George's policy to hold around £170,000 of free unrestricted reserves 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 George's policy to maintain a balanced budget each year. 10
STGEORGE'SCOMMUNITY CHILDREN'S PROJEcf UMITED DIREcfoRS' REPORT (continuedl FOR THE YEAR ENDED 31 AUGUST 2024 The balance on total unrestricted funds at the year-end was £1,188,476 {2023: £1,162,028). Of this amount free unrestricted reseNes (being unrestricted reserves excluding funds only available on sale of fixed assets) at 31 August 2024 totalled £374,634 (2023: £419,438). St George's had designated fund5 of £116,967 {2023: £121,367) represented by fixed assets. This comprises the building fund which represents 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 year-end which are not available forthe general purposes of the charity are £18,319 {2023.' £18,969}. This represents specificgrants and donationstowards the Additional Support £1,217, Enjoy Benefits £508, equipment of £3,028 and also fund5 for assisted places of £13,566. Plans for future perlods The Board and Business Manager have plans to develop further St George's presence in the community by liaising more directly wlth local companies and businesses with a view to seeking corporate sponsorship and presence and also raise the proflle of St George's, so the community knows what the Charity does. There are also ongoing plans for improvements to the buildings and ground5 of St George's with the view to keep the setting in the best condition possible for years to come: Lobby door repairs Repair and replacement of part of the fence Redecorating of various rooms New floor in the basement Board room refurbishment Solar Panels Other sustainable investments Statement of Trustees, Responsibilltles 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 statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice {United Kingdom Accounting Standards and applicable lawl. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fairview 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: li
STGEORGE'S COMMUNITYCHILDREN'S PROJEcf LIMITED DIREcfoRS' REPORT {contlnued) FOR THE YEAR ENDED 31 AUGUST 2024 select suitable accounting policies and then apply them consistently. obserde the methods and principles in the Charities SORP. make judgement5 and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any materlal departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in busine5S. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions 2nd 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 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. ststement of dlsclosure to audltors Each of the persons who are 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 information of which the charitable company's auditors are unaware, and thatTrustee has taken all the steps that ought to have been tsken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information. Small Company Exemptions This report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime in Part 15 of the Companies Act 2006. 8y Order of the Board Adrian Crouch Chair 12
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'S PROJEcr LIMITED FOR THE YEAR ENDED 31 AUGUST 2024 Opinion We have audited the financial statements of StGeorge's Community Children's Project Limited Ithe'charitable compan) for the year ended 31 August 2024 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policie5. The f inancial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Thonclal Reportlng Standard applicable in the UK ond RepubHc of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial 5tatements'. give a true and fair view of the state of the charitable companls affair5 as at 31 August 2024 and of its incoming resources and application of resources 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 2006. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKI) and applicable law. Our 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 are relevant to our audit of the financial statements in the UK, including the FRCS Ethical Standard, and we have fulfilled our other ethical responsibilitles in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to Eolng concern In auditing the financial statements, 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 a5 3 going concern for a period of at least twelve months from when the financial statements are authori5ed for 155ue. Our responsibilities and the responsibilitie5 of the trustees with respect to going concern are described in the relevant sections of this report. Other Information The other information Comprises the information included in the annual report, other than the financial Statements and our auditor's 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 otherwise 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 LIMITED FOR THE YEAR ENDED 31 AUGUST 2024 In connection with our audit of the financial 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 misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude 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 prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report, which includes the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charltable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companie5 Act 2006 requires us to report to you if, in our opinion: adequate accounting record5 have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or the financial statement5 are not in agreement with the accounting records and returns; or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanation5 we require for our audit; or the trustee were not entitled to prepare the financial statements in accordance with the small companies regime and take advantsge of the small companies, exemptions in preparing the directors, report and from the requirement to prepare a strategic report. Responslbllltles of Trustees As explained more fully in the trustees, responsibilities statement set out on page 11, the trustees (who are also the directors of the charitable company for the purposes of company law} are 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 trustee5 determine 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 ¢ompan¢s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operation5, or have no realistic alternative but to do so. 14
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'S PROJEcr UMITED FOR THE YEAR ENDED 31 AUGUST 2024 Audltorfs responslbllities for the audit of the financial statements 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 auditor's 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 (UK} will always detect a material mlsstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We deslgn procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularlties, including fraud. The extent to which our procedures are capable of detecting irregularltles, 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 charity, and the procedures that management adopt to ensure compliance. We have considered the extent to which non-complian might have a material effect on the financial statements, and in particular we identified: the Companies Act 2006, Financial Reporting Standard 102, the Charities Act 2011, and the Charities SORP. We have also identified other laws and regulations that do not have a dirert effect on the amounts or disclosures within the financial statements, but for which compliance is fundamental to the charitvs operations and to avoid material penalties, including the General Data Protection Regulation, regulation by OFSTED, employment law, health and safety, food hygiene, and the Children and Social Work Act 2017 and regulations relating to the safeguarding of children. Having reviewed the laws and regulations applicable 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 charity's procedures for ensuring compliance with laws and regulation5' 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 regulations; Obtained and reviewed meeting minutes; Obtained and reviewed correspondence with the regulator and OFSTED reports; Reviewed legal expenses accounts for indications of any possible non-compliance; and Reviewed the completeness and accuracy of any disclosures made in the financial statements. We assessed the susceptibility of the chariws financial statements to material misstatement, including considering how fraud might occur. This was performed bv: Making an assessment of the charit5 control environment, Systems and controls including identifying any weaknesses and considering the risk of management override of controls; Considering whether there are any incentives or opportunities for management to manipulate financial results; 15
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST GEORGE'S COMMUNITY CHILDREN'S PROJEcr LIMITED FOR THE YEAR ENDED 31 AUGUST 2024 Obtaining and evaluating the trustees, assessment of the risk of fraud, and enquiring as to whether they are aware of any actual or suspected incidences of fraud. Reviewing the accounting policies and accounting estimates for signs of mariagement bias; and Identifying key risks relating to irregularities as relating to revenue recognition including the risk of fraud, the ringfencing and proper application of restricted funds, management override of controls and the allocation of income and costs by activity. We then designed audit procedures in response to the risks identified, including e.g. performing substantive testlng on all materlal income streams, reviewing restricted income for completene55, reviewing journal entries and accounting estimates, and carrying out substantive analytical procedure5 on income and expenditure by activity and seeking explanations for variances. The audit has been planned and performed in in accordance with auditing 5tandard5, 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 mi55tatements in the financial statements. There are inherent difficulties in detecting irregularities, and irregularities that result from fraud may be more difficult to detect than irregularities 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 transactions reflected in the financial statements, the less audit procedures are able to identify it. A further description of our responsibilities is available on the Financial Reporting Council's website at: htt www.frc.or auditorsres onsibllities. This description forms part of our auditorfs report. Use of our report This report is made solely to the charitable compan5 members, as a body, in accordance with Chapter 3 of part 16 of the Companies Att 2006. Our audit work has been undertaken so that we might state to the charitable company's 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 assume responsibility to anyone other than the charitable company and, the charitable companvs members a5 a bodyi for our audit work, for this report, or for the opinions we have formed. Amy aley FCA cfA DChA (Senlor Statutory Auditor) for and on behalf of Lindeyer Francis Ferguson Limited Chartered Accountants Statutory Auditor North House 198 High Street Tonbridge Kent TN9 IBE 16
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMITED STATEMENT OF FINANCIAL AcfiviTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST2024 Unrestricted Funds 2024 Re5trlrted Funds 2024 Total Funds 2024 Total Funds 2023 Notes Income from: Donations and legacies Charitable activities Other trading actlvitles Investments 11,209 1,716,240 22,283 10,365 26,812 38,021 1,716,240 22,283 10,365 51,348 1.572,789 26,094 3,546 Total income 1,760,097 26,812 1,786,909 1,653,777 Expenditure on: Raising funds Charitable activities 19,783 1.718,139 19,783 1,741,328 32,616 1,578,831 23,189 Total expenditure 1.737,922 23,189 1,761,111 1,611,447 Net income io 22,175 3.623 25,798 42,330 Transfers between funds 4,273 { 4,273) Net movement in funds 26,448 (6501 25,798 42,330 Reconciliation of funds.. Total funds brought forward 1,162,028 18,969 1,180,997 1,138,667 Total funds carrled forward 15 1.188,476 18,319 1,206,795 1,180,997 17
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED BALANCE SHEEr ASA T31 AUGUST2024 2024 2024 2023 2023 Notes As restated As restated Fixed assets Tangible assets Investment in subsidiary 12 li 813,841 742,590 813,842 742,590 Current assets Debtors Short term cash deposits Cash at bank and in hand 13 148,687 409,618 95,204 105,334 321,707 234,905 653,509 661,946 Creditors: amounts falling due within one year 14 (260,556) 1223,539) Net current assets 392,953 438,407 Total net assets 1,206,795 1,180,997 Funds Unrestrirted funds Restricted funds 1,188,476 18,319 1,162,028 18,969 Total funds 15 1,206,795 1,180,997 These financial statements have been prepared in accordance with the special provision5 of Part 15 of the Companies Act 2006 relating to small companies. 91,,1 The financial statements were approved by the Board of Trustees on............and were signed on its behalf by: Adrian Crouch Chair Company number: 2412455 18
ST GEORGE'S COMMUNITY CHILDREN'5 PROJEcf LIMITED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31 AUGUST2024 2024 2023 Notes As restated Cash flows from operating activities: Net cash provided by operating activities 62,573 71,169 Cash flows from Investing activities: Purchase of tangible assets Acquisition of investment in subsidiary 1114,362) { i) 185,925) Net cash used in investing activities 1114,363) 185,9251 Change in cash and cash equivalents for the year { 51,7901 114,7561 Cash and cash equivalents at the beginning of the year 556,612 571,368 Cash and cash equlvalents at the end of the year 504,822 556,612 Represented by.. Short term cash deposits Cash at bank and in hand 409,618 95,204 321,707 234,905 504,822 556,612 A Reconclllatlon of net income to net cash flow from operatlng activltles Net income Depreciation Increase in debtors Increase in creditors 25,798 43,111 (43,3531 37.017 42,330 31,357 157,6631 55,145 Net cash provided by operating artlvltles 62,573 71,169 19
5T GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 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 POLICIES The principal accounting policies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows- 2.1 Basis of preparation The financial statements have been prepared under the historical cost convention in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" (Effectlve l January 20191- (Charities SORP IFRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the ComDanies Act 2006. St George's Community Children's Project Limited meets the definition of a public benefit entity under FRS 102 as it aims to provide 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 pounds sterling, which is the functional currency of the charity, and rounded to the nearest £1. Group accounts The charity has a wholly-owned subsidiary undertaking. St Georges Childcare Limited. The subsidiary is dormant and so consolidated financial statements have not been prepared on the grounds of immateriality. Z.2 Incomlng resources All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income, the receipt is probable and the amount can be quantified with reasonable accuracy. For donation5 thi5 IS Usually on receipt. For grant5 this is usually when a formal offer is made in writing, unless the grant contains terms and conditions outside of the charity's control, which must be met before the charity is entitled to the funds. Incoming resources from charltable activities have been analysed by the three activitie5 undertaken by the charity, namely Nursery, After School Club / Holiday Club, and Little Dragons. The income is recognised to the extent that the charity has provided contracted 5ervice5. 20
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIE5 (contlnued) 2.2 Incomlng resources continued Fees received in advance or income to which the charitable company is not yet entltled is accounted for as deferred income. Fundraising income 15 recognised when the event takes place. Rental income is recognised in the period to which it relates. The charltable company is not registered for VAT, 2.3 Resources expended Liabilities, and related expenditure, are recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be requlred to settle the obligation, and the amount can be measured or estimated reliably, Expenditure 15 accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category and includes irrecoverable VAT. Direct costs have been charged to the activity to which they relate. Support costs and direct Costs not relating to one activity in particular have been allocated to the three activities undertaken by the harity 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. 2A Taxation The charitable company is exempt from corporation tax on its charitable activities. 2.5 Fund accounting General funds can be used in accordance with the charitable objectives 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 charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. 21
STGEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 ACCOUNTING POLICIES (Continued) 2.6 Tangible fixed assets and depreciation Tangible fixed assets are capitalised above £1,000 and are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated realisable value of each asset over its expected useful life, as follows: Buildings main fabric & structure Roofs Windows and external doors Bathrooms Heating systems Kitchens Fixtures, fittings and Den Playground Over 50 years Over 40 years Over 10 year5 Over 10 years Over 20 years Over 20 years Over 4 years Over 10 years Over 10 years A review for impaimient 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. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impaiments. Impairment 1055es are recognised in the Statement of Financial Activities. 2.7 Financial instruments The charity's basic financial instruments are initially recognised at transaction value and subsequently measured at amortised c05t. 2.8 Cash and bank balances Cash on instant access and cash held on deposit with an initial maturity of approximately three months or less is included as Cash and cash equivalents in the Statement of Cash Flows. Cash held on deposlt for investment purposes rather than to meet day-to-day cashflow needs is shown separately in the Statement of Financial Position as Short term cash deposits. 2.9 Pension scheme The charity operates a defined contribution pension scheme for its employees. The assets of the scheme are held Separately from those of the charity in an independently administered fund. The pension cost represents contributions payable by the charity to the fund. The pension expense is recognlsed across artivities on the same basls as all other expenditure. 2.10 Leasing Rentals payable under operating leases are charged against income on a straight line basis over the lease term. 22
STGEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 ACCOUNTING POLICIES (continued) 2.11 Prior year restatements In the prior year, an amount of £321,707 was included in Cash at bank and in hand. This ha5 been reclassified to Short term cash deposits as the funds are held for investment purposes rather than to meet short-term cash commitments as they fall due. There wa5 no impact on the prior period net assets nor opening reserves at I September 2023, In the prior year the charity was notified of a KCC remittance of £38,126 before the year end which had not been included in the accounts. The comparative figures have therefore been adjusted to increase trade debtors and deferred income by £38,126. There is no impact on opening reserves at I September 2023. During the year the charity reviewed the allocation of staff to charitable activities. This review identified some errors in the prior period allocations. The prior period financial statements have therefore been reclassified for comparability. The Impact on the comparative figures is to reduce Nursery direct staff costs by £42,310, increase Afterschool and Holiday Club direct staff costs by £12,683 and increase Little Dragons direct staff costs by £29,627. There 15 no impact on opening reserves at I September 2023. As part of this adjustment the comparative staff numbers in note 9 have also been restated. DONATIONS 2024 2023 Grants and donations Legacies 38,021 43,553 7,795 38,021 51,348 In the prior yearthe charity received £34,000 in restricted grants and donations. 23
ST GEORGE'S COMMUNITY CHILDREN'5 PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 INCOME FROM CHARITABLE AcfiviTIES - 2024 Afvrschool & Holidoy Nursery Dragons Total Fees receivable 1,446,942 141,640 127,658 1,716,240 INCOME FROM CHARITABLE AcfiviTIES - 2023 Afterschool & Holid NUery Draqons Total Fees receivable 1,329.357 123,682 119,750 1,572,789 OTHER TRADING AcfiviTIES 2024 2023 Fundraising activities Other 17,597 4,686 26,094 22,283 26,094 COST5 OF RAISING FUNDS 2024 2023 Fundraising costs Staff costs (Note 91 4,714 15,069 11,916 20,700 19,783 32,616 24
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGU5T2024 COSTS OF CHARITABLE ACTIVITIES- 2024 Afvr school & Holldoy Clubs NUery Dragons Total Direct costs: Staff costs (Note 91 Other dirert costs 1,045,740 140,752 59,816 16,531 74,667 11,193 1,180,223 168,476 1,186,492 76,347 85,860 1,348,699 Allocated support costs (Note 81 349,540 18,131 24,958 392,629 Total costs 1,536,032 94,478 110,818 1,741,328 COSTS OF CHARITABLE AcfiviTIES - 2023 After school & Holiday aubs uttk Drtwons Nursery Totol Direct C05t5: Stsff costs (Note 91 Other direct costs 896,585 109,442 49,553 27,721 97,738 16,349 1,043.876 153,512 1.006,027 77,274 114,087 1.197,388 Allocated support COSt5 (Note 8} 339,582 17,614 24,247 381,443 Total costs 1,345,609 94,888 138,334 1,578,831 In the prior year, the charity spent £19,081 from restricted funds in relation to its charltable activities. 25
ST GEORGE'5 COMMUNITY CHILDREN'S PROJEcf LIMITED NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf2024 SUPPORT COSTS 2024 2023 Staff costs {Note 9) Administrative expenses Premises costs Accountancy and payroll fees Depreciation Governance costs Audit fees Legal and professional fees 186.222 14,716 119,799 5,205 43,111 160,857 19,000 149,268 5,559 31,357 15.560 8,016 8,840 6.562 392,629 381,443 STAFF COSTS The average number of employees during the year on a headcount basis was: 2024 2023 Nursery Afterschool Club and Hollday Club Little Dragons Administration 59 55 77 74 Staff costs comprise: 2024 2023 Gross salaries Employer's National Insurance Pension cost5 Staff recruitment Freelance and temporary staff 1,265,670 77,533 28,948 5.371 3,992 1,120,730 57,857 26,359 11,344 9,143 1,381,514 1,225,433 There are no employees with emoluments above £60,000 {2023: none). 26
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 STAFF COSTS contlnued One trustee, Pauline Parker, was remunerated £6,993 for her role as Nursery Staff durlng the year (2023- £8,212), which includes pensions contributions of £65 (2023: £2391. This is allowed under provision 4a of the governing document. There were no other trustee's remuneration or other benefits in the current or prior period. No trustees (2023: none) were reimbursed during the year for expenses. 10 NET INCOME 2024 2023 Net income is stated after charging: Audit fees Depreciation Operating lease payments 15,560 43,111 8,403 8,840 31,357 10,738 11 INVESTMENT IN 5UB51DIARY The charity owns 100% of the ordinary Share capital of £1 of St George's ChildCa Limited a company incorporated in England and Wales (No 1545928) with the same reglstered office as the charlty. The purpose of the company is to retain the charity's trading name and there is no artivity in the company. 27
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMrrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 12 TANGIBLE FIXED ASSErs Land ond Flxtures & buildings Equlpment Totol Cost At I September 2023 Addition5 Disposals 825,912 112,992 (10,800) 108,207 1,370 934.119 114,362 110,8001 At 31 August 2024 928,104 109,577 1,037,681 Depreciation At I September 2023 Charge for the year Eliminated on disposal 108,495 32,251 110.8001 83.034 10,860 191,529 43,111 110,8001 At 31 August 2024 129.946 93,894 223,840 Net book value At 31 August 2024 798,158 15,683 813,841 At 31 August 2023 717 417 25,173 742,590 Included in land and buildings above is the cost of freehold land of £189,626 (2023., £189,626) which is not depreciated. 13 DEBTORS 2024 2023 Trade debtors Prepayments and accrued income Other debtors 115,277 31,410 2,000 80,108 25,226 148,687 105,334 Trade debtors includes fees receivable from KCC of £81.260 which have also been shown in deferred income, as per note 1412023: £38,126). 28
ST GEORGE'S COMMUNITY CHILDREN'S PROJECT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 14 CREDITORS: AMouNfs FAWNG DUE WITHIN ONE YEAR 2024 2023 Trade creditors Taxes and social security costs Other creditors Accruals and deferred incorne 33,774 19,019 31,921 175,842 43,054 18,271 47,889 114,325 260,556 223,539 Deferred In¢ome Income deferred from the prevlous year Released to the statement of financial activities Arn"ng during the currentyear.. Private fees in advance KCC fees in advance 38,880 { 38,880) 10.565 { 10,5651 7,316 81,260 754 38,126 88,576 38,880 15 MOVEMENTON FUNDS At I Sept 2023 Incomlng Resour At 31 Aug 2024 Current year Trnnsftrs Unrestrlcted funds General fund 1,040,661 1,760,097 (1,733,522) 4,273 1.071,509 Deslgnated funds Building fund 121.367 (4,4001 116,967 1,162,028 1,760,097 (1,737,922) 4,273 1,188,476 Restricted funds Assisted places fund Garden fund Equipment fund Additional support Enjoy benefits 13,941 2,000 3,028 11,000 2,500 (11,375) 1227) 13,566 {4,2731 3,028 1,217 508 9,312 4,000 18,0951 13,4921 18,969 26,812 123,189) 14,273) 18,319 Total funds 1,180,997 1,786,909 (1,761,111) 1,206,795 29
ST GEORGE'S COMMUNITY CHILDREN'S PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 15 MOvEmEr ON FUNDS continued At I Sept 2022 Incomlng Resources At31 Aug 2023 Prior yeor Trunsfvr Unrestricted funds General fund 1,008,850 1,619,777 { 1,587.966) 1,040,661 Designated funds Building fund 125,767 { 4,4001 121,367 1,134,617 1,619,777 (1,592,366) 1,162,028 Restricted funds Assisted places fund Garden Fund Equipment fund 314 29,000 5,000 15,3731 { 3,0001 (7081 13,941 2,000 3,028 3,736 4,050 34,000 { 19,0811 18,969 Totsl funds 1,138,667 1,653,777 { 1,611,447) 1,180,997 Building fund The building fund represents a lottery grant which wa5 Set aside by the tru5tee5 and utili5ed to purchase the freehold premises. Part of the depreciation charge is charged to the building fund each year. Assisted places fund The asslsted places funds represents grants and donations received that were either restricted to, or have been allocated to, the provision of subsidi5ed places. Equipment fund This fund represents specific grants and donations received for the purchase of equipment andlor tOVS. Garden fund This fund represents grants and donations received to make improvements to the playground. It has been used towards resurfacing the concrete, adding a sensory trail and sail shades, removing existing wooden po115 to open up the space, and installing a new climbing frame. 30
ST GEORGE'S COMMUNttY CHILDREN'5 PROJEcf LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST2024 15 MOVEMENT ON FUNDS continued Addltlonal support fund Senif and DAF funding is awarded by Kent County Council to support Children with a significant need. DAF is awarded when a disability living allowance is in place, giving the setting a one off payment per year, SENIF is awarded as per the childs funded hours to support the child in the settin& primarily for specific toys and equipment or addltlonal staffing. Enjoy benefits Enjoy Benefits is awarded to the setting from the Parents Company per year. The parents decide how this is spent to support the settin& which may include toys and equipment, extra curricular activities or staff rewards. 16 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restrfrted fvnd5 fvnds Trtalfvnds 2024 2024 2024 Current year Tangible fixed a55ets Net current a55et5 813,841 374,634 813,841 392,953 18,319 1,188,475 18,319 1,206,794 Unrestrlcted Restricted fvnds fvnds Totalfvnds 2023 2023 2023 Prior year Tangible fixed assets Net current assets 742,590 419,438 742,590 438,407 18,969 1,162,028 18,969 1,180,997 31
ST GEORGE'S CQMMUNrrY CHILDREN'5 PRQJEcf LIMtrED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGusf2024 17 OPERATING LEASE COMMITMEKrs At 31 August 2024, the charltable company is committed to future minimum lease payments under non-cancellable operating leases as follows: 2024 2023 Due not later than one year Due laterthan one year but not laterthan five years 5,403 10,716 8,973 14,709 16,119 23,682 18 RELATED PARTY TRANSACTIONS The charity's key management personnel for the year ended 31 August 2024 are considered to be the Trustees (Including one Trustee who is employed as a Childcare Manager), the Finance Manager and the Business Manager. Total emoluments, including employer's pension contributions and employer's NIC, paid in respect of key management personnel were £102,60612023: £87,241). There are no further related party transaction5 to disclose (2023: None). 32