The Southside Trust Annual Report and Accounts for the year ended 31 March 2025 Charity Registration Number: 1018310
The South$id• Trust Page 2 Annual Report and Accounts for the yoar ended 31 March 2025 Legal and administsative details Trustees.. Gill Williams Sue Mandry Karf Dewey Frances McElvenny (from 14 October 2023 until 14 October 20241 Simon Ward (from 29 oober 2024) The Southside Trust is registered vthh the Chanty Commissbon under reference 1018310. Review of the year Propety income increased due to more users of the Hall and costs dipped slighty. leaving a surplus of £2.483 (2024 £588) on the designated fund for the year and £13.321 held ovef against future property costs {2024 £10.8381. In addition lo income of £14,444 (2024 £18.710) and realised profits on <lisposals of £59412024 losses of £28,227), the movemenl on the unrealised profits in the portfolio in the year was a loss of £1.645 {2024 surplus of £57,291). The market value of the listed investrnents was £713.4 (2024 £724,692) at the year end. As well as grants covering the capitation fees to the National Scout Association of the groups within the fomer Southside District, The South5ide Trust also made grants in the year to those groups for nt in¢urred. The accounts have been drawn up on a basis that is consistent wlh previous years. Approv by the Trustees on 7 Mty 2025 and signed on their behalf by Sue Mandry Trustee
Independent Examinerfs Report to The Southside Trust Page 3 This report is on the accounts of The Southside Trust for the year ended 31 March 2025. The chariWs Iruslees are fesponsible for Ihe preparation of the accounts. The ¢hariW$ truslees consider thal an audrt is not required for this year under 5eclion 144 of the Chanties Act 2011 (the Charities Act) and that an independent examination is needed. It is my responsibility lo.. examine the accounts under seclion 145 of the Charities Act.. to follow the procedures laid down in the general Directions given by Ihe Charity Commission under se¢tion 14515)Ibl of the 2011 Act., and lo stale whether Pa'CUlar matters have come to my attention. Basis of independent examinefs rnport My examination was carried out in accordance wilh the general Di10n$ given by the Chanty Regulators. The examinakn'on indudes a review of the accountr.ng records kept by the charity and a omparison of the accounts presente(J wrth those records. 11 also indudes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees conceming any such matters. The procedures undertaken thj not provide all the evidence that would be required in an audit. and consequently no opinion is given as to vthether the accounts present a.true and fairf. view and the report is limited to th05e matters sel out in the statement below. Independent examinerfs statement In connection with my examination. no matter has come to my attenlion which gives me reasonable cause to believe that in any material respecl the requirements lo keep accounting records in accordance wth secbon 130 of the Charrbes Act: and lo prepare finanaal statements whi¢h aecord with the accounts'n9 records and compty V•ith the accounting requirements of the Charities Act have not been met. Keith Mitchell ACA 27 Rossiter Road, London SW12 9RY 7 May 2025
The Southside Twst Page 4 Annual Report and Accounls for the year ended 31 Mar¢h 2025 ststem¢nt of flnancial activities Income General Designated fund fund 2025 2025 General Designated fund fund 2024 2024 Total 2025 Totsl 2024 Income from voluntsry sources Propety rents 17.665 17.665 16,630 16,630 Total income from voluntary sourus 17.665 17.665 income from investments Inveslmenl income Profit I Ilossl on sale of investments Movement on unrealised profrts 14,444 167 14.611 18,710 128,227) 1,645 0 57,291 167 13. 47,774 18,710 {28,2271 57,291 47,774 1,645 13.393 Totsl income 13,393 17,832 31.225 47,774 16,630 64,404 Expenditurn Premises Rent and rates Light, heat and water Wfi costs Insurance Management Fee Waste disposal Repairs and renewals Professional fees 310 2.010 307 581 310 2.010 307 29) 3,076 290 3.076 1,134 450 1,134 450 12,141 12.141 10.804 10,804 15.349 15,349 16,042 16,042 Support of Scout groups Capitation fees Jarnboe and County trips Grants lo groups 15.487 15.487 17,592 17,592 1,000 2,044 20,636 2,1 17,677 2.19) 17.677 20,636 Administration Investment manag&ment fees Administration 7,1) 7,1SY) 6,877 15 6,892 6,877 15 6,892 7.190 7.190 Total expenditure 24,867 15.349 40,216 27,528 16,042 43,570 Surplus l(Deficit) 11.474) 2.483 {8.991 20,246 588 20,834 Fund$ Brought forward 744,(XM 10.838 754,842 723,758 10,250 734,008 Transfer betweon funds Funds Carried forward 732.530 13,321 745.851 744,004 10,838 754,842
The Southside Trust Page 5 Annual Report and Accounts fof yur •nded 31 March 2025 B•lanc• Sheet 2025 2024 Fixed assets Investments 725.716 736.912 Current assets Investment Manager Capitsl account investment Manager Income account Cash al bank and in hand 7.229 279 21.830 29,338 8,556 1,552 16,6ts) 26,708 Cfeditorn due within one year Net current as•ets 29.338 26.708 NET ASSETS 755,054 763,620 Resems Pemanent Endowment Funds Designated funds General Funds 9.203 13.321 732.530 8.778 10.838 744,004 755,054 763.620 Sue Mandry Trustee 7 May 2025
Tho Southside Trust Page 6 Annual report and Accounts for the year ended 31 March 2025 Nots$ lo th¢ a¢¢ounts 1. Investments 2025 2024 Fixed Interest Account Balance l April 2024 Movements 12,220 12.220 Balance 31 March 2025 12,220 12,220 Portfolio managed by Ralhbone Investment Management Limited Mathel value on 1 April 2024 Purchases Sales - proceeds Realised profit l (loss) on sales Movement in unrealised proffts 724,692 636,013 441,852 371,286 (451.997) {311,671) 594 (28.227) 57.291 Mathet value on 31 March 2025 713.496 724.692 Historic cost of these investments 670.838 680 389 Total investments held 725.716 736.912 1 April 2024 Movements 31 March 2025 2. Pernmnent Endowment Funds Kath Skillen Bequest Alex Walker Bequest 4,585 4,193 222 203 4,807 4.396 8.778 425 9,203 The Kath Skillen Bequest was made by a fomier ADC Cub Scouts and has no speufic purpose. The Aex Walker Bequest is used to enable members of the Oisthcl to attend camps that they would not otherwise be able lo afford. Grants are made at the th"scretion of the Districl Execub've. A portion of the total Inte$1 has been allocated lo these funds n¢M statements are available. 3. Dosignated Funds The Designated Fund accounts for the income and expendilufe on the leasehold building on Balham High Road and a small plol of land adjacent to Downe Nats"onal Scout Centre known as Strakes Shaw. Following the sale of the freehold, a lease of 999 years was granted to The Southside Trust lo use the ground floor of the new building as the Southside District Centre. The lease expl$ in 3LTh)8 and the t)Jrrenl rent is £1 pa.