2023-12-31-accounts

Company Registration Number: 02773345 Charity Registration Number: 1036667

BELLINGHAM COMMUNITY PROJECT LIMITED

FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

BELLINGHAM COMMUNITY PROJECT LIMITED

REFERENCE AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 DECEMBER 2023

Board and Trustees

Peter Brooks (Chair) Charly Richardson Ami Ibitson Iyare Igiehon

Secretary

Heather Taylor

Project Director

Mr Julian Rouse

Registered Office

4-7 Chiswell Street, London, EC1Y 4UP

Principal Office

C/O Bellingham Leisure & Lifestyle Centre, 5 Randlesdown Road, Bellingham SE6 3BT

Company Registration Number

02773345

Charity Registration Number

1036667

Independent Examiner

Siobhan Holmes, Haysmacintyre LLP, 10 Queen St Pl, London EC4R 1A

Bankers

Lloyds Bank plc, 39 Threadneedle Street, London EC3 8DQ

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BELLINGHAM COMMUNITY PROJECT LIMITED

Contents

CHAIRMAN’S STATEMENT 3 REPORT OF THE TRUSTEES AND TRUSTEES 5 INDEPENDENT EXAMINER’S REPORT 9 STATEMENT OF FINANCIAL ACTIVITIES 10 BALANCE SHEET 11 NOTES TO THE FINANCIAL STATEMENTS 12

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BELLINGHAM COMMUNITY PROJECT LIMITED

CHAIRMAN’S STATEMENT YEAR ENDED 31 DECEMBER 2023

In 2023, our primary focus has been gathering data related to the elderly population in Bellingham. We have been exploring ways to best use our current resources while seeking opportunities to acquire additional support. This will help us address the cost-of-living challenges and deliver free initiatives to support the local community.

Bellingham celebrated its centenary this year. To mark this milestone, we collaborated with local organisations, the community, and service providers to plan year-round events. To ensure widespread awareness, we created a community calendar outlining the centenary events and distributed it to over 3000 households with the help of the local Police Cadets. The events included a mobile Bellingham centenary exhibition, which visited various events and locations throughout the year, an organ recital, a centenary celebration weekend, events for older adults, summer fun activities for children, and a centenary party for children with special educational needs—the centenary year culminated with a community carol service on Bellingham Green, where local primary school children led a jam jar-lit parade in December.

BCP organised and raised funds for the annual Bellingham Festival. This year, we aimed to deliver a more significant festival to celebrate the centenary. With a successful funding application to Awards for All and partnership funding from Phoenix Community Housing, we provided free activities for children, including a petting zoo, bouncy castle, African drumming, and balloon modelling, among others. The day was a huge success, with our biggest attendance yet; 3500 people came throughout the day. Many residents supported the event by volunteering, running community stalls, and providing a program of performances.

We welcomed Anna Post, our new Community Development Worker, in January 2023. This has allowed us to expand our community work, especially for those over 65, develop further partnerships, and increase effective communication, with branding being a key focus area. These efforts have contributed to better engagement, increased awareness, and more targeted programs to support our community.

We completed a comprehensive mapping exercise of the existing services for people over 65 in Bellingham and reviewed the most recent demographic data available. This resulted in a detailed report describing the current social, health, and well-being provision for older adults in Bellingham. The report identified several significant gaps in provision, highlighting the impact of the cost-of-living crisis on Bellingham residents and the increasing need for help with basic needs.

We have established several free warm spaces in response to the high cost of utilities. These spaces include a Tea and Toast area with Bingo for older adults in Bellingham, a Jamaican pattie drop-in with games and hot drinks, and weekly arts and crafts activities. Additionally, we have partnered with the local church to offer a comprehensive warm space program. This program includes the successful Older Adults Monday Lunch Club, a Friday drop-in providing access to food and hot drinks for our community, and a gentle exercise program for older adults. We have also supported Bellingham Linking Lives, a program offering befriending services for isolated adults.

According to Lewisham’s Youth service provider, Youth First, there has been increased pressure to provide food as part of their young person sessions, as many young people have reportedly not had a proper meal all day. To help support them, we introduced a cook, eat, share, and enjoy! The initiative enabled users to learn cooking skills, access nourishing meals and the opportunity to take food home and share it along with four healthy eating sessions. We also provided a free junior gym for Bellingham's young people to enable them to participate in weekly sessions.

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BELLINGHAM COMMUNITY PROJECT LIMITED

CHAIRMAN’S STATEMENT (CONTINUED) YEAR ENDED 31 DECEMBER 2023

BCP is still working towards redeveloping its land in partnership with Lewisham council. Lewisham is still considering building a new leisure centre on our site, including a swimming pool. This will all be subject to planning permission.

BCP sincerely appreciates the continuing support it receives from its funders, which allows us to continue our work and ensure sustainability for the future.

There is a strong community spirit in Bellingham, but sadly, Bellingham is now the most deprived ward in Lewisham. BCP’s work is needed more than ever. There is an urgent need for BCP to advocate for affordable access to health and well-being provisions. We must ensure that we continue to help reduce social isolation, encourage physical activity, and increase mental well-being by providing projects for the entire community.

Peter Brooks Chairman

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BELLINGHAM COMMUNITY PROJECT LIMITED

REPORT OF THE TRUSTEES YEAR ENDED 31 DECEMBER 2023

The Trustees present their annual report together with the financial statements, for the year ended 31 December 2023, under the Companies Act 2006 and the Charities Act 2011.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Charity was incorporated on 14 December 1992 and is a subsidiary of the Trust for London, a charitable Trust, which is the controller of the Charity. It is limited by Guarantee and is also a registered charity governed by its Articles of Association. Trust for London controls the appointment of the Trustees of the Charity. The Charity is the parent Charity of Bellingham Community Project Management Co Limited. The Trustees, who are also the trustees of the charity, ensure that the policies of the Charity are implemented and that the work is properly managed and administered. To this end two permanent posts were in place during the year. The Project Director and the Project Administrator work on the business of the Charity, provide input into the policy debates and implement decisions taken whilst the consultants worked on specific funded activities.

All trustees give freely of their time and no trustee remuneration was paid in the year. See note 6a to the financial statements.

APPOINTMENT AND INDUCTION OF TRUSTEES

If the charity has identified the need to enhance the skills of the Board and an eminently suitable person has been identified, the person may be invited to meet with the Chair and Project Director to gain an understanding of the role and BCP’s aims and objectives and also as an observer at a Board meeting.

The applicant will be asked to declare any conflicts of interest and will be required to provide two references, which will be taken up prior to the next Board meeting. The applicant will be required to sign a declaration that they are not disqualified from being a trustee as per section 72 (1) of The Charities Act 1993.

If the Board wish to seek a candidate who is not known to a member, the recruitment process and outputs will include Role Description, advert, role pack, where to advertise, how to ensure Board diversity. A recruitment plan will be put into place, which will include appropriate sources from where applicants might be found. To ensure diversity, consideration will be given to ways in which groups that are under-represented on the Board might be reached and encouraged to apply. However, at the point of selection, the Board will not discriminate unfairly and recruitment will be in accordance with the charity’s commitment to equal opportunities. All applicants will be required to complete an application form, in the event of there being a large number of applicants those most matching BCP’s skills and diversity audit requirements will be sent an information pack and interviewed by the Chair and Project Director. The applicant will be asked to declare any conflicts of interest and will be required to provide two references, which will be taken up prior to the next Board meeting. The applicant will be required to sign a declaration that they are not disqualified from being a trustee as per section 72 (1) of The Charities Act 1993. The requirement to attend any trustee induction sessions will be described. It is the responsibility of the Trustees on the recruiting panel to ensure that references are obtained and all other relevant checks are completed.

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BELLINGHAM COMMUNITY PROJECT LIMITED

REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2023

PAY POLICY FOR ALL STAFF

The pay for all staff is reviewed by the Board annually and normally increased in accordance with inflation. The Trustees bench-mark against pay levels in other charities of similar size.

RISK MANAGEMENT

The Trustees have examined the major strategic, business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.

OBJECTIVES AND ACTIVITIES FOR THE PUBLIC BENEFIT

The Charity was established for the public benefit of providing facilities for physical recreation at Bellingham Playing Fields in the interests of social welfare. This aim was broadened during 2006 to include the promotion of any charitable purpose that improved the social conditions of life through sport, recreation or other leisure activities for the people in the London Borough of Lewisham and the surrounding boroughs within London, the objectives being to develop, support and assist voluntary and community groups in the area of benefit to provide these facilities.

In furtherance of these objectives the Charity operates a Lifestyle and Leisure Centre on the green field site at Randlesdown Road Bellingham the management of which has been contracted to the London Borough of Lewisham.

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our objectives and in planning our future activities.

FUNDRAISING

We have a comprehensive fundraising policy/strategy which looks at both core funding (sustainability) and project funding. The strategy is reviewed and reported to on a quarterly basis to the Trustees. In relation to the protection of vulnerable individuals we work within the Leisure Centre’s Safeguarding Policy and the Project Director is DBS checked.

FINANCIAL REVIEW AND FUTURE DEVELOPMENTS

The Trustees reported total income of £192,149 (2022: £143,734) for the year. This includes grant income of £166,999 (2022: £124,124) of which further details are given in note 4.

It is noted that whilst the charity is asset heavy, with the ownership of the Bellingham Leisure and Lifestyle centre, there are only limited funds available to continue its work.

The Bellingham Leisure and Lifestyle Centre cost £4.2 million to build. For 2023 the management of the facilities was run by Greenwich Leisure Limited on behalf of the London Borough of Lewisham. The facilities include a purpose-built Gymnastics Hall, which is the home of Ladywell Gymnastics Club. There is also an indoor community adventure play area for children and an outdoor 3G games, 3 full-size premium football pitches, changing facilities and a fitness gym. The centre is tired and Lewisham council having closed a further leisure provision in Lower Sydenham is working with BCP and the Trust for London on a potential redevelopment of the site, which could see the existing site replaced with a brand new leisure provision.

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BELLINGHAM COMMUNITY PROJECT LIMITED

REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2023

In 2023, we recruited a part-time Community Development worker. This has allowed us to expand our community work.

The cost-of-living crisis on Bellingham residents and the need for help with basic needs has seen a greater need for projetcs that include food and drink provision. We have initiated small projects that include food to help and developed further partnerships to help support the community.

Bellingham celebrated its centenary this year. To make this milestone memorable, we collaborated with local organisations, the community, and service providers to plan year-round events. BCP coordinated and fundraised for an annual Bellingham Festival celebrating the centenary.

Youth First is the preferred youth provision provider for Lewisham Council and run a Youth Gateway centre on the part of the site leased to them. Activities have been reduced due to funding constraints and they now only provide sessions on two evenings per week at the centre. BCP has offered help by providing free junior gym and cook eat and share initiatives to the centre.

POST BALANCE SHEET EVENTS

There have been no significant events since the year end which would materially affect the financial statements.

GOING CONCERN

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

TRUSTEES' RESPONSIBILITIES IN RELATION TO THE FINANCIAL STATEMENTS

The trustees are responsible for preparing the annual return and the financial statements in accordance with applicable law and regulations.

Company law applicable to incorporated charities in England and Wales requires the trustees, who are also Trustees for the purposes of Company law, to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Accounting Standards and applicable law. The financial statements are required to give a true and fair view of the charity's financial activities during the year and of its financial position at the end of the year (unless the charity is entitled to prepare accounts on the alternative receipts and payments basis). In preparing those financial statements, the trustees should follow best practice and:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards and statements of recommended accounting practice have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume the Charity will continue in business.

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BELLINGHAM COMMUNITY PROJECT LIMITED

REPORT OF THE TRUSTEES (CONTINUED) YEAR ENDED 31 DECEMBER 2023

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The systems of control are designed to provide reasonable, but not absolute, assurance against material misstatement or loss. They include an annual budget set by the Trustees, regular consideration by the trustees of financial results and identification and management of risks.

SMALL COMPANIES EXEMPTION

The financial statements are prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.

RESERVES POLICY

In 2016, using the Charity Commission’s guidance, Bellingham Community Project (BCP) reviewed the risks it faced and concluded that in the financial climate at the time, it needed to reduce its liability for major repair costs for the Bellingham Leisure and Lifestyle Centre. The liability arose from the terms of the 2014 sub-lease of the facility to Lewisham Council. The charity had built up reserves towards meeting this liability but the Board concluded that it needed to focus more of its resources on meeting its charitable objects and meeting local need. At the same time the charity was mindful of its ongoing obligations. A solution to the problem was found with the assistance of the Trust for London who agreed to take on 90% of future repair liabilities and the £200k which had been held in reserve for this liability was transferred to the Trust. This arrangement was of significant benefit to the charity as a major risk had been resolved and the Board was now able to concentrate on delivering its charitable objects.

Having reduced the Charity’s liability for future major repairs in the Bellingham Leisure and Lifestyle Centre to 10% of the total cost, it is the trustees’ aim to hold sufficient reserves to meet its revenue costs for six months and a limited provision for the major repair costs, which are estimated could cost up to £100k over the next 10 years.

At the year end, the charity held unrestricted reserves of £257,117 (2022: £225,140) and restricted reserves of £2,369,926 (2022: £2,436,433). The trustees consider this to be sufficient to meet its obligations.

By order of the Board C/O Bellingham Leisure & Lifestyle Centre 5 Randlesdown Road Bellingham London SE3 3BT

Peter Brooks Chairman

July 2023

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BELLINGHAM COMMUNITY PROJECT LIMITED

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BELLINGHAM COMMUNITY PROJECT

YEAR ENDED 31 DECEMBER 2023

I report to the charity trustees on my examination of the financial statements of Bellingham Community Project Limited (‘the Charity’) the year ended 31 December 2023.

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that might state to the charity’s trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees, as a body, for my work or for this report.

Responsibilities and basis of report

As the trustees of the charity (and its Trustees for the purposes of Charity law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

4. the financial statements have not been prepared in accordance with the methods and principles of the Statement if Recommended Practice for accounting and reporting by charities (applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

09/07/2024

Siobhan Holmes ACA DChA Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG

9

BELLINGHAM COMMUNITY PROJECT LIMITED

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted Restricted|Total|Total| |Funds|Funds|Funds|Funds| |2023|2023|2023|2022| |Notes|£|£|£|£| |Income from:| |Donations| |Voluntary income| |- Grants receivable|4|50,000|116,999|166,999|124,124| |Investment income| |- Interest receivable|-|-|-|-| |Charitable Activities| |Rents, hirings and similar income|25,150|-|25,150|19,610| |─────|─────|─────|─────| |Total income|75,150|116,999|192,149|143,734| |─────|─────|─────|─────| |Expenditure on:| |Cost of raising funds|5|(12,121)|-|(12,121)|(6,776)| |Charitable activities| |Charitable operations|5|-|(102,062) (102,062)|(91,153)| |Charitable operations - Depreciation|5|(81,441)|(81,441)|(81,441)| |Charitable support costs|5|(31,055)|-|(31,055)|(19,962)| |─────|─────|─────|─────| |Total expenditure|(43,176) (183,503) (226,679) (199,332)| |─────|─────|─────|─────| |Net income/(expenditure) before transfers|31,974|(66,504)|(34,530)|(55,598)| |Gross transfers between funds|4a|3 (3)|-|-| |─────|─────|─────|─────| |Net income/(expenditure) for the year|31,977|(66,507)|(34,530)|(55,598)| |Reconciliation of funds:| |Balance brought forward at 1|January 2023|225,140 2,436,433 2,661,573 2,717,171| |────── ────── ────── ──────| |Balance carried forward at 31 December 2023 11|257,117 2,369,926 2,627,043 2,661,573| |══════ ══════ ══════ ══════|

----- End of picture text -----

The Statement of Financial Activities incorporates the income and expenditure account.

The result for the year derives from continuing activities and there are no gains or losses other than those shown above.

The notes on pages 13 to 22 form part of the financial statements.

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BELLINGHAM COMMUNITY PROJECT LIMITED

BALANCE SHEET AS AT 31 DECEMBER 2023

Company Registration number 02773345

			2023		2022
	Notes	£	£	£	£
Tangible fixed assets	7	2,306,450	2,306,450	2,306,450 2387,891	2387,891
Current Assets
Debtors and prepayments	8	33,318		8,457
Cash at bank and in hand		325,970		346,065
	──────	──────	──────	──────
		359,288		354,522
Creditors
Amounts falling due within one year	9	(38,695)	(38,695)	(80,840)	(80,840)
	──────	──────	──────	──────
Net Current assets			320,593		273,682
		──────	──────	──────	──────
		2,627,043	2,627,043	2,661,573	2,661,573
		══════	══════	══════	══════
The funds of the charity
Unrestricted funds	11		257,117		225,140
Restricted funds	11	2,369,926	2,369,926	2,436,433	2,436,433
		──────	──────	──────	──────
		2,627,043	2,627,043	2,661,573	2,661,573
		══════	══════	══════	══════

The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the Charity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies’ regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Peter Brooks Chairman

Date: 8[th] July 2024

The notes on pages 12 to 22 form part of the financial statements

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BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2023

General information

Bellingham Community Project Limited is a private Charity limited by guarantee incorporated in England and Wales, company number 02773345 and charity number 1036667. Its registered office address is 4-7 Chiswell Street, London, EC1Y 4UP. Its principal activity remains the provision of community services in Bellingham.

1 ACCOUNTING POLICIES

Basis of Accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Bellingham Community Project Limited meets the definitioin of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements have been prepared in GBP and all amounts have been rounded to the nearest £.

Going concern

The Trustees assess whether the use of going concern is appropriate, whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements..

Grants Receivable

Grants are credited to income when entilement to income is confirmed in line grant recognition criteria as specified within Charities SORP FRS 102.

Income

Rents and similar income represents the amount receivable from the lease or hire of grounds and the Youth Gateway building . Contributions from users represent the amounts contributed from groups and organisations towards their use of the facilities and charitable services provided by the project.

Expenditure

Costs of raising funds comprise those operational costs directly attributable to raising income and an appropriate proportion of staff costs and general overheads. Charitable activities include the Project's provision of facilities for sports and leisure recreation and other charitable operations. They include staff costs and general overheads which are identifiable wholly or mainly in support of charitable expenditure. Governance costs are those costs incurred in connection with the governance arrangements of the charity as opposed to those associated with charitable activity. They cover the costs of compliance with statutory requirements and include the audit fees. Expenditure has been apportioned between costs of raising funds, charitable costs and governance costs in a way, which the Trustees think fair. Costs are provided for on the accruals basis.

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BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

ACCOUNTING POLICIES (CONTINUED)

Tangible fixed assets

Tangible fixed assets costing more than £500 are shown at cost (or valuation) less depreciation. Depreciation is provided so as to write off the cost of tangible fixed assets over their estimated useful lives at the following rate:

Buildings Centre equipment

2.041% per annum on a straight line basis over the life of the lease 10% per annum on a straight line basis

Debtors

Other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost

Financial instruments

The Project only has financial instruments and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Cash Flow Exemption

The financial statements do not include a cash flow statement because the charity, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Pensions

The Charity does not operate a pension scheme, although it does contribute towards employees' personal pension plans. Contributions are accounted for as and when made.

Funds

Funds for specific projects and their related expenditure are held as restricted funds and analysed within the notes to the accounts.

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BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

ACCOUNTING POLICIES (CONTINUED)

2 JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the application of the Charity's accounting policies, the Trustees may be required to make judgements, estimate and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumption are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in a period of the revision and future periods if the revision affects both current and future periods.

At the year end date the Trustees identified that depreciation is a significant accounting estimate. Depreciation of the Centre has been based on the length of the lease.

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BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

3 FINANCIAL PERFORMANCE OF THE CHARITY

The note below provides an operational summary of the performance of the Charity before and after depreciation of the Leisure Centre and its assets and before transfers.

		┌─── Restricted Funds ───┐	┌─── Restricted Funds ───┐	┌─── Restricted Funds ───┐	Total	Total
	Unrestricted	Fixed			Funds	Funds
	Funds	Assets Operations		Total	2023	2022
	£	£	£	£	£	£
Income	75,150	-	116,999	116,999	192,149	143,734
Expenditure	(43,176)	-	(102,062)	(102,062)	(145,238)	(117,891)
	─────	─────	─────	─────	─────	─────
Net movement in funds	31,974	-	14,937	14,937	46,917	25,843
Depreciation	-	(81,441)	-	(81,441)	(81,441)	(81,441)
	─────	─────	─────	─────	─────	─────
Net ncome / (expenditure)
after depreciation	31,974	(81,441)	14,937	(66,504)	(34,530)	(55,598)
	═════	═════	═════	═════	═════	═════

In 2022: of the total income of £143,734, £95,331 was restricted income, with £48,403 of unrestricted income; of the total expenditure of £117,891, £91,153 was from restricted funds, with £26,738 being from unrestricted funds.

4 GRANTS RECEIVABLE

	Unrestriced	Restricted	Total	Unrestricted	Restricted	Total
	Income	Income	Income	Income	Income	Income
	2023	2023	2023	2022	2022	2022
Towards Community	£	£	£	£	£	£
Development Work
London Borough of Lewisham (LBL) -		18,750		-	25,000
Reaching Communities	-	50,811		-	49,331
Coop Community Fund	(SEN) -	1,449		-	-
Awards for All	-	8,094		-	-
Phoenix	-	-		-	1,750
London Sport	-	2,550		-	2,550
City Bridge Trust	-	34,400		3,793	16,700
Mayors Fund	-	945		-	-
	─────	─────		─────	─────
	-	116,999	116,999	3,793	95,331	99,124
Towards salaries and	evaluation
Trust for London	50,000	-		25,000	-
	─────	─────		─────	─────
	50,000	-	50,000	25,000	-	25,000
	─────	─────	─────	─────	─────	─────
	50,000	116,999	166,999	28,793	95,331	124,124
	═════	═════	═════	═════	═════	═════

The Project is grateful to all its funders for their financial support.

15

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

5 ANALYSIS OF TOTAL EXPENDITURE

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2023	2023	2023	2022	2022	2022
	£	£	£	£	£	£
Cost of raising funds	12,121	-	12,121	6,776	-	6,776
Charitable operations	-	183,503	183,503	-	172,594	172,594
Charitable support costs	28,271	-	28,271	15,810	-	15,810
Governance costs	2,784	-	2,784	4,152	-	4,152
	─────	─────	─────	─────	─────	─────
	43,176	183,503	226,679	26,738	172,594	199,332
	═════	═════	═════	═════	═════	═════

6 TOTAL EXPENDITURE

	Unrestricted	Restricted	Total	Unrestricted	Restricted	Total
	Funds	Funds	Funds	Funds	Funds	Funds
	2023	2023	2023	2022	2022	2022
	£	£	£	£	£	£
Wages and salaries
(see note 6a)	34,609	91,762	126,371	14,743	83,376	98,119
Depreciation – centre	-	81,441	81,441	-	81,441	81,441
Direct grant expenses	-	10,300	10,300	-	7,636	7,636
Consultancy	-	-	-	2,240	-	2,240
Office costs	3,687	-	3,687	3,626	141	3,767
Catering	163	-	163	84	-	84
Rates	100	-	100	100	-	100
Insurance	533	-	533	476	-	476
Travel	71	-	71	30	-	30
Telephone and Internet	657	-	657	457	-	457
Independent examination	fees
/ Auditors remuneration	2,784	-	2,784	4,152	-	4,152
Accountancy	-	-	-	588	-	588
Sundry	572	-	572	242	-	242
	─────	─────	─────	─────	─────	─────
	43,176	183,503	226,674	26,738	172,594	199,332
	═════	═════	═════	═════	═════	═════

16

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

6a STAFF COSTS

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Restricted|Total Unrestricted|Restricted|Total| |Funds|Funds|Funds|Funds|Funds|Funds| |2023|2023|2023|2022|2022|2022| |£|£|£|£|£|£| |Wages and salaries|29,910|79,303|109,212|12,790|72,332|85,123| |Social security costs|1,417|3,756|5,173|554|3,130|3,684| |Pension costs|3,282|8,703|11,985|1,399|7,913|9,313| |─────|─────|─────|─────|─────|─────| |34,609|91,762|126,371|14,743|83,376|98,119|

----- End of picture text -----

Wages and salaries are split between restricted and unrestricted funds based on the projects they relate to.

The key management personnel comprise the Project Director. The trustees were not paid and did not receive any other benefits from employment with the charity (2022: nil) neither were they reimbursed expenses during the year (2022: nil). No trustee received payment for professional or other services supplied to the charity (2022: nil). Total key management remuneration for the year amounted to £70,397 (2022: £67,006).

One employee had employee benefits in excess of £60,000. The average monthly head count was 3 staff (2022: 2 staff).

7 TANGIBLE FIXED ASSETS

----- Start of picture text -----
||||| |---|---|---|---| |Centre|Centre| |Equipment|Building|Total| |£|£|£| |Cost| |Balance brought forward 01/01/2023|453,918 3,892,276 4,346,194| |────── ────── ──────| |Balance carried forward 31/12/2023|453,918 3,892,276 4,346,194| |══════ ══════ ══════| |Depreciation| |Balance brought forward 01/01/2023|448,918 1,509,385 1,958,303| |Charge for the year|2,000|79,441|81,441| |────── ────── ──────| |Balance carried forward 31/12/2023|450,918 1,588,826 2,039,744| |══════ ══════ ══════| |Net Book Value| |31 December 2023|3,000 2,303,450 2,306,450| |══════ ══════ ══════| |31 December 2022|5,000 2,382,891 2,387,891| |══════ ══════ ══════|

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The building is situated on land leased from Trust for London. The lease expires on 27 April 2053.

17

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

8 DEBTORS

----- Start of picture text -----
|||| |---|---|---| |2023|2022| |£|£| |Trade debtors|4,377|7,892| |Prepayments|25|25| |Grants Receivable|25,000|-| |Due from subsidiary|3,916|540| |────|────| |33,318|8,457| |════|════|

----- End of picture text -----

----- Start of picture text -----
|||| |---|---|---| |9|CREDITORS: Amounts falling due within one year| |2023|2022| |£|£| |Accruals|35,695|32,002| |Other creditors|3,000|48,838| |─────|─────| |38,695|80,840| |═════|═════|

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10 OPERATING LEASES

As at 31 December 2023, the Charity was committed to pay the following amounts under noncancellable leases for land at Bellingham

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2023|2022| |Land|Land| |£|£| |Lease payments outstanding over the remainder of the term of the lease|3,000|3,100| |════|════| |11 ANALYSIS OF NET ASSETS BETWEEN FUNDS| |Tangilbe|Tangible| |Fixed|Current|Current|Fixed|Current|Current| |Assets|Assets Liabilities|Total|Assets|Assets Liabilities|Total| |2023|2023|2023|2023|2022|2022|2022|2022| |£|£|£|£|£|£|£|£| |Unrestricted| |Funds|-|310,746|(38,695)|272,051|-|305,980|(80,840)|225,140| |Restricted| |Funds|2,306,450|48,542|- 2,354,992 2,387,891|48,542|- 2,436,335| |────── ────── ────── ────── ──────|────── ────── ──────| |2,306,450|359,288|(38,695) 2,627,043 2,387,891|354,522|(80,840) 2,661,573| |══════ ══════ ══════ ══════ ══════|══════ ══════ ══════|

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18

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |11a STATEMENT OF FUNDS – CURRENT YEAR| |Balance|Balance| |at|Transfers|at| |01/01/23|Income Expenditure|in/out|31/12/23| |£|£|£|£|£| |Unrestricted Funds| |General Funds|225,140|75,150|(43,176)|3|257,114| |────── ────── ────── ────── ──────| |Restricted Funds| |Tangible Fixed Assets|2,387,894|-|(81,441)|(3) 2,306,450| |Bellingham Festival Fund|4,391|-|(995)|-|3,396| |Bellingham Assembly grant (SEN)|88|-|(88)|-|-| |Mayors Fund|-|945|(945)|-|-| |City Bridge Trust|-|34,400|(28,372)|-|6,028| |Coop|3,530|1,449|(1,099)|-|3,880| |London Borough of Lewisham grant|6,250|18,750|(25,000)|-|-| |Award for All|-|8,094|(5,182)|-|2,912| |The National Lottery Community Fund| |(Reaching Communities)|32,165|50,811|(35,716)|-|47,263| |London Sport|2,155|2,550|(4,665)|-|-| |────── ────── ────── ────── ──────| |2,436,433|116,999|(183,503)|(3) 2,369,929| |────── ────── ────── ────── ──────| |Total Funds|2,661,571|192,149|(226,679)|- 2,627,043| |══════ ══════ ══════ ══════ ══════| |11a STATEMENT OF FUNDS – PREVIOUS YEAR| |Balance|Balance| |at|Transfers|at| |01/01/22|Income Expenditure|in/out|31/12/22| |£|£|£|£|£| |Unrestricted Funds| |General Funds|186,775|48,403|(26,738)|16,700|225,140| |────── ────── ────── ────── ──────| |Restricted Funds| |Tangible Fixed Assets|2,469,335|-|(81,441)|- 2,387,894| |Bellingham Festival Fund|7,051|1,750|(4,410)|-|4,391| |Bellingham Assembly grant (SEN)|1,356|-|(1,268)|-|88| |Bellingham Community Project| |Land Trust Project|-|-|-|-|-| |City Bridge Trust|-|16,700|-|(16,700)|-| |Coop|3,952|-|(422)|-|3,530| |London Borough of Lewisham grant|6,250|25,000|(25,000)|-|6,250| |Lewisham Local Funding|1,208|-|(1,208)|-|-| |The National Lottery Community Fund| |(Reaching Communities)|41,244|49,331|(58,410)|-|32,165| |London Sport|-|2,550|(435)|-|2,115| |────── ────── ────── ────── ──────| |2,530,396|95,331|(172,594)|(16,700) 2,436,433| |────── ────── ────── ────── ──────| |Total Funds|2,717,171|143,734|(199,332)|- 2,661,573| |══════ ═════ ══════|══════ ══════|

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19

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

11a STATEMENT OF FUNDS (CONTINUED)

Restricted tangible fixed assets represent the net book value of the Lifestyle and Leisure Centre. The balance is written down by the annual depreciation charge.

The Bellingham Festival Fund is made up of historic donations and grants transferred to BCP by the Bellingham Festival Chairman and current grants to be used solely in the delivery of future Bellingham Festivals.

The Bellingham Assembly grant (SEN) was received to provide free monthly play for local children with Special Educational Needs consisting of one session for under 5's and one session for children aged 5-11.

Community Led Housing grant (Land Trust Project) – the grant supports community led housing that is affordable to local people in Bellingham on a community land trust/resale covenant model and social rented homes on the Bellingham Leisure centre site.

City Bridge Trust grant was received to employ a Community Development Worker to deliver a range of projects for people aged 65 and over in Bellingham.

Coop – The grant was provided to deliver small projects/newsletters to engage isolated residents in Bellingham.

London Borough of Lewisham (LBL) main grant is provided to support our work with the community, it has set deliverables, which we report on quarterly. BCP works in partnership with LBL and other community organisations to deliver a community development programme for the Bellingham ward. It is helping to create a strategy to deliver stronger and cohesive communities borough wide.

Lewisham Local fund was provided to run 12 arts and crafts sessions in Bellingham for isolated adults commencing from March 2022.

Reaching Communities Grant - to help local people take action to improve their health and wellbeing, community members who are identified as not engaging report improvements to their quality of life, revitalise the neighbourhood with improved community facilities and environmental amenities and help develop stronger community bonds/more resilient communities with community members coming together to address common needs.

Neighbourhood Community Development Partnerships (Lewisham) Grant – provided to improve health and well-being of the youth and elderly in Bellingham through the facilitation of small projects.

Funding was received from the Together Fund London Sport to provide targeted health and wellbeing projects for young and older people in Bellingham

12 GUARANTEE

The Charity is limited by guarantee and therefore has no share capital. The liability of the members is limited to £1.

20

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

13 SUBSIDIARY CHARITY

BCP’s Trustees agreed to close the Bellingham Community Project Management Company in 2023 due to lack of use.

14 PARENT CHARITY AND CONSOLIDATION

The Charity is exempt under S.398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its immediate and ultimate parent, Trust for London, a charity and body corporate registered in England and Wales, charity number 205629. The accounts therefore present information about the Charity as an individual undertaking and not about its group. Advantage has not been taken of the Financial Reporting Standard 8 exemption not to disclose inter-group transactions. Copies of the Consolidated financial statements can be obtained from the Trustee of Finance & Administration, Trust for London, 4 Chiswell Street, London EC1Y 4UP. The principal activity of the Trust for London is the tackling of poverty and inequality.

15 RELATED PARTY TRANSACTIONS

The charity has a policy of declaration of interest at board meetings. The policy has been adhered to in relation the following:

• A grant of £50,000 (2022: £25,000) was received from Trust for London, the parent organisation.

• • Recharges for Julian Rouse secondment during the year for the amount of £17,178 (2022: £15,458).

• As at 31 Dec 2023, amount owed to Bellingham Community Project from Trust for London was the amount of £4,377 (2022: £7,892).

• At the year end, the Trust was owed £3,916 (2022: £540) by its subsidiary, Bellingham Community Management Charity Limited, as disclosed in Note 8. BCPMC was closed during the year. The amount is the bank balance currently held in Lloyds Treasury.

21

BELLINGHAM COMMUNITY PROJECT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) YEAR ENDED 31 DECEMBER 2023

16 COMPARATIVE SOFA FOR 2022

STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2022

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted Restricted|Total|Total| |Funds|Funds|Funds|Funds| |2022|2022|2022|2021| |Notes|£|£|£|£| |Income from:| |Donations| |Voluntary income| |- Grants receivable|4|28,793|95,331|124,124|136,889| |Investment income| |- Interest receivable|-|-|-|-| |Charitable Activities| |Rents, hirings and similar income|19,610|-|19,610|19,175| |Contributions from users|-|-|-|-| |─────|─────|─────|─────| |Total income|48,403|95,331|143,734|156,064| |─────|─────|─────|─────| |Expenditure on:| |Cost of raising funds|5|(6,776)|-|(6,776)|(7,610)| |Charitable activities| |Charitable operations|5|-|(91,153)|(91,153) (158,987)| |Charitable operations – Depreciation|(81,441)|(81,441)| |Charitable support costs|5|(19,962)|-|(19,962)|(22,214)| |─────|─────|─────|─────| |Total expenditure|(26,738) (172,594) (199,332) (188,811)| |─────|─────|─────|─────| |Net income/(expenditure) before transfers|21,665|(77,263)|(55,598)|(32,747)| |Gross transfers between funds|4a|16,700|(16,700)|-|-| |─────|─────|─────|─────| |Net income/(expenditure) for the year|38,365|(93,963)|(55,598)|(32,747)| |Reconciliation of funds:| |Balance brought forward at 1|January 2021|186,775 2,530,396 2,717,171 2,749,918| |────── ────── ────── ──────| |Balance carried forward at 31 December 2021 11|225,140 2,436,433 2,661,573 2,717,171| |══════ ══════ ══════ ══════|

----- End of picture text -----

22