Charity registration number: 1049485
Company registration number: 03036200
## **West Silvertown Village Community Foundation**
## **Financial Statements**
## **Year Ended 31 March 2025**
Calculus Assurance Services Independent Examiners Loughton, Essex
**West Silvertown Village Community Foundation**
## **Financial Statements**
## **Year Ended 31 March 2025**
|**Contents**||
|---|---|
||**Page**|
|Charity Reference and Administrative Details|2|
|Trustees’ Annual Report|3-7|
|Independent Examiner’s Report|8|
|Statement of Financial Activities|9|
|Balance Sheet|10|
|Statement of Cash Flows|11|
|Statement of Changes in Reserves|12|
|Notes to the Financial Statements|13-28|
1
**West Silvertown Village Community Foundation**
## **Charity Reference and Administrative Details**
## **Year Ended 31 March 2025**
|**Charity registration number**|1049485||
|---|---|---|
|**Registration number**|3036200||
|**Trustees**|Zeeshan Ahmed||
|(full year unless stated)|Rupesh Bhudia||
||Edna Chirwa|(until 25 May 2025)|
||Jack Courtney||
||Heather Davies|(until 22 May 2025)|
||Mohammad Khan|(until 14 May 2025)|
||Jee Hyeok Lee||
||Sophie Linton|(until 18 March 2025)|
||Oleksandr Pavlov||
||Hannah Tulloch||
||Florence Cantle|(appointed 24 June 2025)|
||Lara Ballin|(appointed 24 June 2025)|
|**Chair**|Jee Hyeok Lee|(until 3 December 2024)|
||Hannah Tulloch|(from 3 December 2024)|
|**Secretary**|Harjit Lola||
|**Chief executive**|Helen Fernandes||
|**Senior leadership team**|Helen Fernandes||
|(full year unless stated)|Harjit Lola||
||Alyson Moore||
|**Registered office**|Britannia Village Hall||
||65 Evelyn Road||
||West Silvertown||
||London||
||E16 1TU||
|**Independent Examiner**|Calculus Assurance Services||
||5 Priory Road||
||Loughton||
||IG10 1AF||
|**Solicitor**|Bates and Wells||
||10 Queen Street Place||
||London||
||EC4R 1BE||
|**Bankers**|Co-Operative Bank||
||1 Balloon Street||
||Manchester||
||M60 4EP||
||Barclays Bank||
||2 Churchill Place||
||London||
||E14 5RB||
2
## **West Silvertown Village Community Foundation**
## **Trustees’ Annual Report**
## **Year Ended 31 March 2025**
The Trustees present their Annual Report (including the Directors’ Report as required by company law) and the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 issued in October 2019.
## **Trustees of the charity**
The directors of the charitable company are its trustees for the purpose of charity law. The trustees who served during the year and to the date of this report are listed on page 2.
Day to day management is provided by a senior leadership team of 3 staff, listed on page 2.
## **Objectives and activities**
## **Policies and objectives**
The objects of this charity are to work in the West Silvertown area of the London Borough of Newham to promote:
- (1) relief of hardship or distress
- (2) protection and preservation of health
- (3) advancement of education and learning including vocational training
- (4) advancement of public education in the Arts
- (5) provision of facilities for recreation and leisure
- (6) promotion of high standards of planning, architecture and social provision
- (7) preservation, protection, development and improvement of the physical and social environmen
The trustees are concerned that the views of local people should be well represented in the decision-making process. We are pleased to report that, of the eight individuals who served as trustees in the year to 31 March 2025, all were residents within the area of benefit.
The overall strategic thrust of the Foundation remains the building of a sound sense of community and social integration covering the whole of the area around West Silvertown, with all sections of the community, private residents and those in social housing, being represented on the Board.
## **Strategic Report**
## **Achievements and performance**
## **Management review**
Based in the London Borough of Newham, the West Silvertown Village Community Foundation was founded in 1995 to help break down the barriers our unique area faces, to help the most vulnerable and to support a healthy, vibrant and sustainable community, which benefits everyone.
We continued to receive contributions from Britannia Village General Management Company for the management of Britannia Village Hall. Tiny Town Daycare and Vibrant Minds After School Club continued to operate within our Britannia Village Hall site, and Creative Kids After School Club continued to operate in Royal Wharf Community Dock for the duration of our management of the space. Our agreement with Ballymore for the management of Royal Wharf Community Dock ceased at the end of 2024, with a new arrangement in place for 2025 to run specific sessions in their space: WSF delivering children and families activities at Royal Wharf Community Dock, with Ballymore managing the space.
The organisation underwent a staffing restructure. We maintained our CEO, SLT, and managers overseeing our 3 overarching projects: Children and Families, Youth and Community Development, but changes were made to some of the roles.
3
## **West Silvertown Village Community Foundation**
## **Trustees’ Annual Report**
## **Year Ended 31 March 2025**
## **Management review (continued)**
Our main areas of work over the period were:
- **Children and Families Project** – activities for under 5s and their families, after school activities for primary school aged children, SEND support work and family events in school holidays.
- **Youth Project** – drop-in youth club, trips, a summer holiday scheme and mentoring in local schools.
- **Community Development Project** – ESOL classes and social opportunities for migrants, refugees and asylum seekers, a food pantry, evening social groups, management of Britannia Village Community Garden, and community events for cultural celebrations.
- **Social Infrastructure work** – working with partners, developers and stakeholders to share community needs and influence development plans.
- **Hiring our spaces for other user groups** – hosting childcare groups, faith groups, exercise classes, children’s enrichment activities, parties and other events/activities.
The trustees and Senior Leadership Team continued to work on a 3-year strategy document. This had 4 key areas of work:
- 1) Increase partnership working at all levels in the organisation. Act as a bridge between large organisations and the community, and as a glue holding different community organisations together.
- We continued to work closely with Oasis Academy Silvertown and Britannia Education Trust, providing mentoring in schools and cross-referring families to support.
- We continued to coordinate the Silvertown Social Infrastructure Forum, which met quarterly with representatives from the Greater London Authority, Newham Council, Developers and Social Infrastructure providers.
- We continued as the consortium lead for Royal Docks Youth Zone, commissioned by Newham Council to deliver Youth Work across the docks.
- 2) Design a new community space and housing scheme which will benefit the West Silvertown community through provision of needed activities and spaces.
- We developed plans for a refurbishment of Britannia Village Hall. We consulted with regular users of the hall to ask what improvements they would like to see, and appointed Maz Designs as architect. The plans include moving the nursery onto one floor, creating new rooms to maximise income generation and allow us to grow our activities, and improved toilets and kitchen facilities.
- 3) Increase local recognition, participation and leadership in West Silvertown Foundation activity and wider community life.
- We held consultations with regular users of the hall about changes that they would like to see within the building. We spoke at the youth club, under 5s stay and play and the food pantry, as well as with regular hirers Tiny Town, Vibrant Minds and with the staff team.
- We continued to have a local staff team, with over half of our staff walking to work. Our trustee board also continued to be resident led.
- Our food pantry volunteers gave over 30 hours per week between them to the running of our food pantry, and the majority of the volunteers were also pantry members.
- We adjusted our annual celebration event to target partners and local stakeholders more. We included activity taster sessions so that attendees could get more of a flavour of what we do.
4) Increase inclusivity and representation in our spaces and activities through review of our work and intentionally expanding into current gaps.
- We continued to run a range of community activities through our Children and Families project, Youth Project and Community Development Project. 1,818 individuals attended activities with us over the period.
- We opened up our kitchen for households without their own kitchen to cook their own food once a week. This was mainly used by refugees and asylum seekers.
- Our food pantry grew significantly, to over 100 member households by the end of the period. We introduced an advocacy area as part of the pantry, and gave out phones and SIM cards to those that needed them.
- We started some youth activities straight after school to reach young people who aren’t able to come to our evening sessions.
4
**West Silvertown Village Community Foundation**
## **Trustees’ Annual Report**
## **Year Ended 31 March 2025**
## **Financial review (including reserves policy)**
## **Reserves policy**
It is the policy of WSF to maintain free reserves at a level which balances our objectives to develop and support services with our need to remain financially stable. A minimum level of free reserves equating to between three and six months of total expenditure is considered sufficient to cover management, administration and support costs and to respond to emergency needs which arise from time to time. In 2017/18 the trustees decided to establish a designated reserve of £150,000 to fund building development works, of which £11,200 was spent on consultancy fees in 2020/21, £40,136 in 2021/22 and £16,656 in 2022/23. The balance remaining has been used to offset the impairment provision on the development project and ongoing costs associated with the project which have not been covered by restricted grants, leaving £nil carried forward. The general funds after designations are £265,237 and represent approximately four months of total expenditure and eight months of unrestricted expenditure.
## **Surplus / deficit**
In this period the Foundation's income was £756,341 (2024: £721,758), expenses were £745,679 (2024: £801,471 (including impairment provision)) resulting in a surplus for the financial year of £10,662 (2024: deficit: £79,713), following continued strategic investment in our premises and services. This has led to a total funds balance of £459,518 (2024: £448,856) at year end, with a restricted funds balance of £86,327 (2024: £61,875). Funds available without disposing of tangible fixed assets were £413,337 at the year-end (2024: £380,820). The trustees fully appreciate the challenging current economic climate and will continue to try and achieve its objectives and goals with sensible financial management.
## **Plans for future periods**
## **Future developments**
Over 2025/26 and beyond the trustees intend to develop and begin implementing a new strategy, including a refresh of WSF’s vision and values. WSF will hold a series of workshops and conversations with users of the centre, staff and trustees to enable this.
The board will continue to progress the refurbishment of Britannia Village Hall, with the next major milestone being to secure planning permission.
## **Public benefit**
The charity trustees have complied with their duty to have due regard to the guidance on public benefits published by the Charity Commission in exercising their power and duties. The activities summarised under Management review above are for public benefit.
## **Relationships with Related parties**
**Britannia Village General Management company Limited** (BVGMC) manages the estate where Britannia Village Hall (BVH) is situated and contributes £57,093 from the residents’ service charge towards the running costs of BVH. Under WSF’s Articles of Association BVGMC can appoint one of the board members. Following the revision of the Articles this is no longer the case, although as a locally based organisation BVGMC representation on the trustee board is welcome subject to management of any potential conflicts of interest.
**Britannia Village Primary School** is opposite the Britannia Village Hall and serves the same local community. The school is part of the Britannia Educational Trust (BET) which has provided funding towards the Summer Programme and family support projects which largely benefit its pupils and their families. The CEO is chair of BET’s trustees and governor of the school. J Courtney (one of the trustees was employed as a teacher at Britannia Village Primary School until July 2024.
**Royal Docks Community Church** hires the Britannia Village Hall for activities on Sundays and during the week. The CEO and J H Lee are trustees of Royal Docks Community Church.
5
**West Silvertown Village Community Foundation**
## **Trustees’ Annual Report**
## **Year Ended 31 March 2025**
## **Structure, governance and management**
## **Constitution**
The company is registered as a charitable company limited by guarantee and was set up by a Trust deed on 16 March 1995, and its governing document is the Memorandum and Articles of Association, which were updated on 22[nd] November 2022.
## **Constitution (continued)**
The organisation is overseen by a board of Trustees, who also act as the charity Members. In the event that the charity is at some time wound up, members of the charity may be required to contribute not more than £10 towards the settlement of any debts and liabilities there might be at such time. Our directors are currently also operating as the members.
## **Method of appointment or election of trustees**
Trustees are appointed in accordance with the articles of association. These state that there must always be at least 3 directors. The Company Rules state the organisation should have 9-15 trustees, and that at least 50% of these should live or work in West Silvertown.
The term of office of all elected trustees is for 3 years. All retiring trustees are eligible to be re-elected, although no one trustee should serve for a period of more than 9 years under the Company Rules. Trustees are able to co-opt people to join subcommittees, as per the terms of reference for each subcommittee.
## **Trustee induction**
Those who aspire to being elected at the AGM are all invited for an exploratory conversation with our Chair and CEO. They are supplied with copies of the Charity Commission's and Companies House publications detailing the respective duties and responsibilities of charity trustees and company directors and are therefore made aware of their obligations in advance of offering their services. On appointment, new trustees are supplied with a copy of the memorandum and articles of association of the charity, a summary of the legal obligations and liabilities of trustees of charitable companies and other key documents such as the charity's strategic review, its latest annual report and annual accounts, its latest management accounts and board minutes. All new trustees have a personalised induction plan, which will include meeting with our CEO and SLT to talk through the charity’s finances and priorities. All trustees are also offered an NCVO trustee induction training. Any additional training which might be required would be arranged on an ad hoc basis.
## **Risk management**
The trustees acknowledge there are business risks associated with the services provided by West Silvertown Foundation and have sought to manage those risks via insurance, and working closely with the Greater London Authority, who hold the freehold for Britannia Village Hall, and Ballymore, who own Royal Wharf Community Dock. Trustees review the organisation’s risk register quarterly. The principal operating risk is continuity of grant funding and management agreements to cover the cost of charitable activities, and the largest upcoming risk is the redevelopment of Britannia Village Hall.
## **Trustees’ responsibilities**
The Trustees (who are also directors of West Silvertown Village Community Foundation for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation
6
**West Silvertown Village Community Foundation**
## **Trustees’ Annual Report**
## **Year Ended 31 March 2025**
## **Trustees’ responsibilities (continued)**
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 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.
## **Compliance with laws and regulations**
The trustees have established policies and procedures designed to ensure that it complies with all material laws and regulations in relation to the charitable company’s operations and activities. The trustees are not aware of any significant non-compliance with laws and regulations.
## **Independent examiners**
Calculus Assurance Services were reappointed as the charitable company’s independent examiners at the annual general meeting, as the trustees decided to take advantage of audit exemption under the Companies Act 2006 and the Charities Act 2011. The trustees view an independent examination as part of governance and internal control of the charity. Calculus Assurance Services have expressed their willingness to continue in that capacity.
## **Small companies’ exemptions**
In preparing this report, the Trustees have taken advantage of the small companies’ exemptions provided by section 415A of the Companies Act 2006.
This report was approved by the Trustees on 13 October 2025 and signed on their behalf by:
## Hannah Tulloch
Hannah Tulloch (Oct 13, 2025 16:36:47 GMT+1) **Hannah Tulloch Chair**
## 13/10/2025
7
**West Silvertown Village Community Foundation**
## **Independent Examiner’s Report**
## **Year Ended 31 March 2025**
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 March 2025 which are set out on pages 9 to 28.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company 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 company 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 your company’s financial statements as 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**
Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of _the Institute of Chartered Accountants in England and Wales_ , which is one of the listed bodies.
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 company 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 accounting requirements of 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 of 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 financial statements to be reached.
**James Lambden FCA CTA** Calculus Assurance Services
## 13/10/2025
5 Priory Road Loughton Essex, IG10 1AF
Date: 13 October 2025
8
**West Silvertown Village Community Foundation**
## **Statement of Financial Activities (including Income and Expenditure Account)**
## **Year Ended 31 March 2025**
|Note
**Income from:**
Incoming resources from generated funds:
Donations and grants
2
Activities for generating funds
3
Other incoming resources
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net income / (expenditure)**
Recognised gains / (losses) on investments
**Transfers between funds**
**Other recognised gains / (losses):**
Other gains / (losses)
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
16
**Total funds carried forward**
16|**2025**
2024
Restricted
funds
Unrestricted
funds
**Total**
Total
£
£
**£**
£
376,984
63,705
**440,689**
356,766
-
245,461
**245,461**
212,682
-
70,191
**70,191**
152,310|
|---|---|
||376,984
379,357
**756,341**
721,758
352,532
393,147
**745,679**
801,471|
||352,532
393,147
**745,679**
801,471|
||24,452
(13,790)
**10,662**
(79,713)
-
-
**-**
-
**-**
-
-
-
**-**
-|
||24,452
(13,790)
**10,662**
(79,713)
61, 875
386,981
**448,856**
528,569|
||86,327
373,191
**459,518**
448,856|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes on pages 13-28 form part of these financial statements
9
Company registration number: 03036200
## **West Silvertown Village Community Foundation**
## **Balance Sheet**
## **Year Ended 31 March 2025**
|Note
**Fixed assets**
Tangible assets
12
**Current assets**
Debtors
13
Cash at bank and in hand
Short term deposits
**Creditors: amounts falling due within one year**
14
**Net current assets**
**Total assets less current liabilities / net assets**
**Charity Funds**
Restricted funds
16b
Unrestricted funds
16a
**Total charity funds**
16|**2025**
**£**
**16,960**
**16,960**
**18,716**
**172,510**
**304,760**
**495,986**
**(53,428)**
**442,558**
**459,518**
86,327
373,191
**459,518**|2024
£
6,160|
|---|---|---|
|||6,160
74,842
256,006
152,897|
|||483,745
(41,049)|
|||442,696|
|||448,856|
|||61,875
386,981|
|||448,856|
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2025 and of its net resources expended for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
The financial statements have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies’ subject to the small companies’ regime.
The financial statements were approved by the Trustees on 13 October 2025.
## Hannah Tulloch
Hannah Tulloch (Oct 13, 2025 16:36:47 GMT+1)
## **Hannah Tulloch, Chair**
## 13/10/2025
The notes on pages 13-28 form part of these financial statements
10
**West Silvertown Village Community Foundation**
## **Statement of Cash Flows**
## **Year Ended 31 March 2025**
|Note
**Cash flow from operating activities**
18
Interest paid
**Net cash flow from operating activities**
**Cash flow from investing activities**
Payments to acquire intangible fixed assets
Receipts from sales of intangible fixed assets
Payments to acquire tangible fixed assets
Receipts from sales of tangible fixed assets
Payments to acquire investments
Receipts from sales of investments
Interest received
Dividends received
Rents received from investment properties
**Net cash flow from investing activities**
**Cash flow from financing activities**
Receipts from issue of new long term loans
Repayment of long term loans
Repayment of finance lease liabilities
Interest paid
**Net cash flow from financing activities**
**Net increase / (decrease) in cash and cash equivalents**
**Cash and cash equivalents at 01 April 2024**
**Cash and cash equivalents at 31 March 2025**
**Cash and cash equivalents consists of:**
Cash at bank and in hand
Short term deposits
**Cash and cash equivalents at 31 March 2025**|**2025**
**£**
**94,305**
**-**
**94,305**
**-**
**-**
**(33,251)**
**-**
**-**
**-**
**7,313**
**-**
**-**
**(25,938)**
**-**
**-**
**-**
**-**
**-**
**68,367**
**408,903**
**477,270**
**172,510**
**304,760**
**477,270**|2024
£
(107,052)
-|
|---|---|---|
|||(107,052)|
|||-
-
(14,663)
-
-
-
1,819
-
-|
|||(12,844)|
|||-
-
-
-|
|||-|
|||(119,896)
528,799|
|||408,903|
|||256,006
152,897|
|||408,903|
The notes on pages 13-28 form part of these financial statements
11
**West Silvertown Village Community Foundation**
## **Statement of Changes in Reserves**
## **Year Ended 31 March 2025**
||**Total Reserves**|
|---|---|
||**£**|
|Balance as at 31 March 2023|528,569|
|Surplus/(deficit) from Statement of Comprehensive Income|(79,713)|
||______|
|**Balance at 31 March 2024**|448,856|
|Surplus/(deficit) from Statement of Comprehensive Income|10,662|
||______|
|**Balance at 31 March 2025**|459,518|
||______|
The notes on pages 13-28 form part of these financial statements
12
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **1 Summary of significant accounting policies**
## **(a) General information and basis of preparation**
West Silvertown Village Community Foundation is a charitable company registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 2 of these financial statements. The charity operates the Britannia Village Hall and the Royal Wharf Community Dock as community hubs providing the local community with access to healthcare, childcare, education and leisure facilities.
The charity constitutes a public benefit entity as defined by FRS 102. 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice [as it applies from 1 January 2019].
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **(b) Funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **(c) Income recognition**
All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.
13
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **1 Summary of significant accounting policies** _**(continued)**_
## **(c) Income recognition (** _**continued**_ **)**
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed, and an equivalent amount recognised as charitable expenditure.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying rooms and sports facilities for hire, and goods and services in order to raise funds and is recognised when entitlement has occurred.
The charity receives government grants in respect of specific activities. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
## **(d) Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Costs of raising funds includes advertising and marketing material and staff costs directly related to fundraising
- Expenditure on charitable activities includes activities in furtherance of the charity’s objects
- Other expenditure represents those items not falling into the categories above and includes governance costs.
Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
## **(e) Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
14
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **1 Summary of significant accounting policies** _**(continued)**_
## **(f) Tangible fixed assets**
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:
Leasehold improvements 3-5 years straight-line Fixtures & fittings 5 years straight-line Office equipment 5 years straight-line
## **(g) Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **(h) Cash and cash equivalents**
Cash represents cash in hand plus bank balances immediately available to the charity. Cash equivalents and bank balances held on short term deposit available to the charity at up to 3 months’ notice.
## **(i) Impairment**
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
## **(j) Provisions**
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
## **(k) Leases**
Rentals payable and receivable under operating leases are charged to the SoFA on a straight-line basis over the period of the lease.
## **(l) Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
15
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **1 Summary of significant accounting policies** _**(continued)**_
## **(m) Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **(n) Judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Statement of Financial Position (balance sheet) date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
Other key sources of estimation and assumptions:
- a. Tangible fixed assets. Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values. Carrying values in the balance sheet are shown in Note 12 below.
- b. Allocation of administration costs. A proportion of expenditure is either not directly attributable to specific projects or relates to the central administration of the charity. In determining how to allocate these costs the trustees have considered the level of activities in each project, use of facilities and administrative support.
16
## **West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **2 Income from donations and grants**
|**Income from donations and grants**||
|---|---|
|Children/young persons’/families grants
Royal Docks Trust (Youth)
Royal Docks Trust (Community Development)
Eastend Community Foundation
Summer Scheme (LB Newham)
Summer Scheme (other)
Youth Mentoring (Oasis)
Community Development (LB Newham)
Community Development (Other)
Community Development (City Bridge Trust)
Community Development (unrestricted)
Youth (London Marathon, Jack Petchey)
Youth YP Consortium (LB Newham)*
GLA and Community Led Housing (Mayor of London)
Small grants and donations|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
**£**
£
£
£
35,134
-
**35,134**
22,995
-
**22,995**
-
-
**-**
15,000
-
**15,000**
31,000
-
**31,000**
-
-
**-**
14,771
-
**14,771**
9,840
-
**9,840**
47,568
-
**47,568**
32,501
-
**32,501**
8,905
-
**8,905**
4,221
4,498
**8,719**
-
57,106
**57,106**
-
-
**-**
4,841
-
**4,841**
5,000
-
**5,000**
5,900
-
**5,900**
7,000
-
**7,000**
32,500
-
**32,500**
24,000
**24,000**
-
-
**-**
-
4,425
**4,425**
10,050
-
**10,050**
26,550
-
**26,550**
200,000
-
**200,000**
200,000
-
**200,000**
(13,685)
-
**(13,685)**
-
-
**-**
6,599
**6,599**
-
736
**736**|
||376,984
63,705
**440,689**
347,107
9,659
**356,766**|
- Youth Consortium grant includes amounts payable to other consortium members (see note 6a)
## **3 Income from activities for generating funds**
|Hall hire
Rent receivable
Reverse service charge – Britannia|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
**£**
£
£
£
-
188,368
**188,368**
-
156,182
**156,182**
-
-
**-**
-
-
**-**
-
57,093
**57,093**
-
56,500
**56,500**|
|---|---|
||-
245,461
**245,461**
-
212,682
**212,682**|
17
## **West Silvertown Village Community Foundation Notes to the Financial Statements**
## **Year Ended 31 March 2025**
## **4 Other income**
|**est Silvertown Village Community Foundation**
**tes to the Financial Statements**
**ar Ended 31 March 2025**
**Other income**||
|---|---|
|Bank Interest
Management fee (Royal Wharf)
Reimbursed expenses (Royal Wharf)
User contributions
Car parking
Miscellaneous income|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
**£**
£
£
£
-
7,313
**7,313**
-
1,819
**1,819**
-
(18,750)
**(18,750)**
-
25,000
**25,000**
-
73,807
**73,807**
-
112,140
**112,140**
-
1,231
**1,231**
-
5,880
**5,880**
-
5,757
**5,757**
-
5,985
**5,985**
-
833
**833**
-
1,486
**1,486**|
||-
70,191
**70,191**
-
152,310
**152,310**|
- **5 Expenditure by charitable activity**
|**Expenditure by charitable activity**||
|---|---|
|Children/young persons/families (note 6)
Village Hall (note 7)
Royal Wharf Community Dock (note 6a)
Other community activities (note 6a)
Building redevelopment (note 6a)
Governance costs (note 8)|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
£
£
£
£
291,265
5,525
**296,790**
335,506
(25,246)
**310,260**
-
256,676
**256,676**
-
265,918
**265,918**
-
107,376
**107,376**
-
128,963
**128,963**
61,267
(1,429)
**59,838**
38,002
28,708
**66,710**
-
21,018
**21,018**
3,446
22,471
**25,917**
-
3,981
**3,981**
-
3,702
**3,702**|
||352,532
373,147
**745,679**
376,954
424,516
**801,470**|
## **6 Analysis of Children/Young Persons/Family Costs**
|Youth/Family Plus
Holiday Schemes
Village Hall – Administration|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
£
£
£
£
220,021
11,056
**231,077**
286,955
(29,342)
**257,613**
71,244
(5,531)
**65,713**
48,551
4,096
**52,647**|
|---|---|
||291,265
5,525
**296,790**
335,506
(25,246)
**310,260**|
18
## **West Silvertown Village Community Foundation Notes to the Financial Statements**
## **Year Ended 31 March 2025**
## **6a Analysis of expenditure by activities (current year)**
|Activity costs
Equipment and consumables
Newsletter and publicity
Printing and stationery
Cleaning and waste collection
Rates and service charge
Depreciation
Impairment
Insurance
Light and Heat
Staff costs
Grants payable *
Repairs and improvements
Telephone
Sundries
Office equipment
Management fees
Legal and professional
Bank charges
Total
Reallocation – Village Hall costs
**Allocation to funds**:
Restricted funds
Unrestricted funds|Holiday schemes
Youth
Family Plus
Building
redevelopment
Community
development
Royal Wharf
Community Dock
Community
Garden
Britannia Village
Hall & admin
Total Funds
2025
£
£
£
£
£
£
£
£
£
18,969
14,226
25
-
5,320
2,071
-
1,450
**42,061**
2,114
1,102
107
-
2,094
359
-
2,681
**8,457**
-
-
-
-
-
-
-
1,454
**1,454**
-
27
4
-
27
-
-
1,417
**1,475**
-
-
-
-
-
-
-
4,898
**4,898**
-
3
-
-
-
1,438
-
12,458
**13,899**
-
-
-
-
-
-
-
22,617
**22,617**
-
-
-
-
-
-
-
-
**-**
-
-
-
-
-
-
-
5,776
**5,776**
-
-
-
-
-
-
-
25,902
**25,902**
35,457
108,455
32,756
19,668
43,309
88,591
-
156,447
**484,683**
-
46,808
-
-
-
-
-
41,996
**88,804**
-
-
-
-
-
-
-
15,698
**15,698**
-
450
137
-
121
173
-
2,067
**2,948**
-
-
-
-
-
-
-
1,086
**1,086**
-
-
-
105
-
-
-
12,259
**12,364**
-
-
-
-
-
-
-
500
**500**
575
299
63
1,245
64
-
-
10,655
**12,901**
-
-
-
-
-
-
-
156
**156**|
|---|---|
||57,115
171,370
33,092
21,018
50,935
92,632
-
319,517
**745,679**
8,598
21,493
5,122
-
8,903
14,744
-
(58,860)
**-**|
||65,713
192,863
38,214
21,018
59,838
107,376
-
260,657
**745,679**|
||71,244
182,987
37,033
-
61,267
-
-
1
**352,532**
(5,531)
9,876
1,181
21,018
(1,429)
107,376
-
260,656
**393,147**|
||65,713
192,863
38,214
21,018
59,838
107,376
**-**
260,657
**745,679**|
19
## **West Silvertown Village Community Foundation Notes to the Financial Statements**
## **Year Ended 31 March 2025**
## **6a Analysis of expenditure by activities (prior year)**
|Activity costs
Equipment and consumables
Newsletter and publicity
Printing and stationery
Cleaning and waste collection
Rates and service charge
Depreciation
Impairment
Insurance
Light and Heat
Staff costs
Grants payable *
Repairs and improvements
Telephone
Sundries
Office equipment
Management fees
Legal and professional
Bank charges
Total
Reallocation – Village Hall costs
**Allocation to funds**:
Restricted funds
Unrestricted funds|Holiday
schemes
Youth
Family Plus
Building
redevelopment
Community
development
Royal Wharf
Community Dock
Community
Garden
Britannia Village
Hall & admin
Total Funds
2024
£
£
£
£
£
£
£
£
£
11,400
12,927
845
-
12,307
3,355
9,294
1,255
**51,383**
2,426
2,883
415
-
669
1,081
454
2,254
**10,182**
-
-
-
-
-
-
-
2,326
**2,326**
146
14
44
-
-
248
-
999
**1,451**
-
-
-
-
-
-
-
4,617
**4,617**
-
-
-
-
-
1,991
-
12,759
**14,750**
-
-
-
-
-
-
-
20,190
**20,190**
-
-
-
-
-
-
-
-
**-**
-
358
-
-
-
250
-
4,693
**5,301**
-
-
-
-
-
-
-
26,447
**26,447**
31,023
113,244
26,014
23,042
39,291
109,080
-
159,722
**501,416**
-
68,586
-
-
-
-
-
53,285
**121,871**
11
-
-
-
-
-
-
10,975
**10,986**
-
344
97
-
94
194
-
2,527
**3,256**
-
-
-
-
-
-
-
943
**943**
-
-
-
1,775
-
131
-
6,565
**8,471**
-
-
-
-
-
-
-
3,771
**3,771**
653
381
50
1,100
-
1,010
-
10,813
**14,007**
-
-
-
-
-
-
-
102
**102**|
|---|---|
||**45,659**
**198,737**
**27,465**
**25,917**
**52,361**
**117,340**
**9,748**
**324,243**
**801,470**
6,988
28,455
2,956
-
4,547
11,623
54
(54,623)
**-**|
||52,647
227,192
30,421
25,917
56,908
128,963
9,802
269,620
**801,470**|
||48,551
266,914
20,041
3,446
27,602
-
10,400
-
**376,954**
4,096
(39,722)
10,380
22,471
29,306
128,963
(598)
269,620
**424,516**|
||52,647
227,192
30,421
25,917
56,908
128,963
9,802
269,620
801,470|
* Amounts payable to other consortium members
20
## **West Silvertown Village Community Foundation Notes to the Financial Statements**
## **Year Ended 31 March 2025**
## **7 Allocation of Village Hall Costs**
|**Allocation of Village Hall Costs**||
|---|---|
|Activity costs
Equipment and consumables
Newsletter and publicity
Printing and stationery
Cleaning and waste collection
Rates and service charge
Depreciation
Impairment
Insurance
Light and Heat
Staff costs
Grants payable
Repairs and improvements
Telephone
Sundries
Office equipment
Management fees
Legal and professional (excluding governance costs)
Governance costs (Note 8)
Total
Allocated to Children/Young Persons/Family
Community development
Royal Wharf Community Dock|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
£
£
£
£
-
1,450
**1,450**
-
1,255
**1,255**
-
2,681
**2,681**
-
2,254
**2,254**
-
1,454
**1,454**
-
2,326
**2,326**
-
1,417
**1,417**
-
999
**999**
-
4,898
**4,898**
-
4,617
**4,617**
-
12,458
**12,458**
-
12,759
**12,759**
-
22,617
**22,617**
-
20,190
**20,190**
-
-
**-**
-
-
**-**
-
5,776
**5,776**
-
4,693
**4,693**
-
25,902
**25,902**
-
26,447
**26,447**
-
156,447
**156,447**
-
159,722
**159,722**
-
41,996
**41,996**
-
53,285
**53,285**
-
15,698
**15,698**
-
10,975
**10,975**
-
2,067
**2,067**
-
2,527
**2,527**
-
1,086
**1,086**
-
943
**943**
-
12,259
**12,259**
-
6,565
**6,565**
-
500
**500**
-
3,771
**3,771**
-
6,830
**6,830**
-
7,213
**7,213**
-
3,981
**3,981**
-
3,702
**3,702**|
||-
319,517
**319,517**
-
324,243
**324,243**
-
(35,213)
**(35,213)**
-
(38,399)
**(38,399)**
-
(8,903)
**(8,903)**
-
(4,601)
**(4,601)**
-
(14,744)
**(14,744)**
-
(11,623)
**(11,623)**|
||-
260,657
**260,657**
-
269,620
**269,620**|
21
## **West Silvertown Village Community Foundation Notes to the Financial Statements**
## **Year Ended 31 March 2025**
## **8 Governance costs**
|**est Silvertown Village Community Foundation**
**tes to the Financial Statements**
**ar Ended 31 March 2025**
**Governance costs**||
|---|---|
|Independent examiners remuneration:
: - Assurance work – independent examination
: - Other work – accounts preparation
Sub-total
Legal fees
Bank Charges
Total|Restricted Funds
Unrestricted
Funds
**Total Funds**
**2025**
Restricted Funds
Unrestricted
Funds
Total Funds
2024
£
£
£
£
£
£
-
2,200
**2,200**
-
2,300
**2,300**
-
1,625
**1,625**
-
1,300
**1,300**|
||-
3,825
**3,825**
3,600
**3,600**
-
-
**-**
-
-
**-**
-
156
**156**
-
102
**102**|
||-
3,981
**3,981**
-
3,702
**3,702**|
22
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **9 Net income / (expenditure) for the year / period**
Net income / (expenditure) is stated after charging / (crediting):
|**et income / (expenditure) for the year / period**
et income / (expenditure) is stated after charging / (crediting):|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Depreciation of tangible fixed assets – current year|**22,451**|20,190|
|Depreciation of tangible fixed assets – opening balance adjustment|**165**|-|
|Impairment of tangible fixed assets|**-**|-|
|Operating lease rentals|**652**|652|
|Independent examiners remuneration (excluding VAT)|**3,840**|3,600|
## **10 Independent examiners remuneration**
The independent examiners remuneration amounts to an independent examination fee of £2,200 (2024 - £2,073), accounts preparation of £1,625 (2024 - £1,527) and tax services of £Nil (2024 – £ Nil).
## **11 Trustee and staff remuneration and associated costs**
The trustees neither received nor waived any remuneration or expenses during the year (2024 – Nil).
The average monthly number of employees and full time equivalent (FTE) during the year was as follows:
|Average staff numbers|**2025**||2024||
|---|---|---|---|---|
||Number|FTE|Number|FTE|
|Charitable activities|23|11.0|23|11.5|
|The total staff costs were as follows:|||||
||||**2025**|2024|
||||**£**|£|
|Wages and salaries|||**441,227**|442,289|
|Social security|||**24,117**|25,623|
|Pension costs|||**11,207**|11,379|
|Redundancy costs|||**2,041**|11,574|
|Volunteers’ expenses|||**-**|520|
||||**478,592**|491,385|
|Other staff costs: training|||**3,657**|6,669|
||||**482,249**|498,054|
Total redundancy / termination payments amount to £2,041 (2024 - £11,574).
No employees received total employee benefits (excluding employer pension costs) of more than £60,000.
**Key management personnel remuneration:** comprising the staff roles listed on page 2, who make up 2.74 FTE.
|Wages and salaries
Social security
Pension costs|**2025**
**£**
**110,230**
**12,247**
**3,307**
**125,784**|2024
£
110,126
11,432
3,304|
|---|---|---|
|||124,862|
23
## **West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **12 Tangible fixed assets**
|**Notes to the Financial Statements**
**Year Ended 31 March 2025**
**12**
**Tangible fixed assets**||
|---|---|
|**Cost:**
At 01 April 2024
Additions
Disposals
Revaluation
At 31 March 2025
**Depreciation and impairment:**
At 01 April 2024
Charge for the year
Impairment
Revaluation
Eliminated on disposals
At 31 March 2025
**Net book value:**
**At 31 March 2025**
At 01 April 2024
**12a**
**Impairment**|Food Project
Leasehold
Improvement
Fixtures and
fittings
Office
equipment
**Total**
£
£
£
£
**£**
13,033
469,532
13,013
17,079
**512,657**
-
27,705
-
5,546
**33,251**
-
-
-
-
**-**
-
-
-
-
**-**|
||13,033
497,237
13,013
22,625
**545,908**|
||12,117
469,532
11,620
13,228
**506,497**
165
19,069
165
3,052
**22,451**
-
-
-
-
-
**-**
-
-
-
-
**-**|
||12,282
488,601
11,785
16,280
**528,948**|
||751
8,636
1,228
6,345
**16,960**|
||916
-
1,393
3,851
**6,160**|
|||
Costs capitalised in respect of professional fees for potential re-development of the Britannia Village Hall site (part of which are grant funded) prior to receiving planning permission have been provided against in full. The impairment provision is £367,410 (2024: £353,730) and is included in accumulated depreciation in note 12.
## **13 Debtors**
|**ebtors**|||
|---|---|---|
|Trade debtors
Other debtors
Prepayments and accrued income
**reditors: amounts falling due within one year**
Bank loans and overdrafts
Trade creditors
Other tax and social security
Pension contributions
Other creditors
Accruals and deferred income (Note 14a)|**2025**
**£**
**2,705**
**-**
**16,011**
**18,716**
**2025**
**£**
**-**
**32,462**
**142**
**1,802**
**5,086**
**13,936**
**53,428**|2024
£
53,332
-
21,510|
|||74,842|
|||2024
£
-
13,344
4,519
-
5,764
17,422|
|||41,049|
## **14 Creditors: amounts falling due within one year**
24
## **West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **14a Deferred income**
|**es to the Financial Statements**
**r Ended 31 March 2025**
**Deferred income**|||
|---|---|---|
|Brought forward
Released in year
Deferred in year
Carried forward|**Hire**
**charges**
**Grant in**
**advance**
**2025**
**£**
**£**
**£**
178
-
**178**
(178)
-
**(178)**
-
-
-
**-**|**Hire**
**charges**
**Grant in**
**advance**
2024
**£**
**£**
£
770
-
**770**
(770)
-
**(770)**
178
-
**178**|
|||178
-
**178**|
## **15 Leases**
Operating leases - lessee
Total future minimum lease payments under non-cancellable operating leases are as follows:
|**2025**
**£**
Within one year
**652**
Between one and two years
**380**
Between two and five years
**-**
Later than five years
**-**
**1,032**
**16**
**Fund reconciliation**
**(a)**
**Unrestricted funds**
Balance
01 April
2024
Income
Expenditure
Transfers
Gains /
(losses)
£
£
£
£
£
**Current period:**
General Funds (BVH)
264,233
267,194
260,491
(5,699)
-
: Children/families
-
57,106
11,057
(46,049)
-
: Holiday schemes
-
-
(5,531)*
(5,531)
-
: Community develop
-
-
(1,429)*
(1,429)
-
: Royal Wharf
(6,389)
55,057
107,376
58,708
-
Fixed assets:
: Community garden
4,500
-
165
-
: Re-development
124,637
-
-
(21,018)
-
Building development
-
21,018
21,018
-
386,981
379,357
393,147
-
-|**2025**
**£**
Within one year
**652**
Between one and two years
**380**
Between two and five years
**-**
Later than five years
**-**
**1,032**
**16**
**Fund reconciliation**
**(a)**
**Unrestricted funds**
Balance
01 April
2024
Income
Expenditure
Transfers
Gains /
(losses)
£
£
£
£
£
**Current period:**
General Funds (BVH)
264,233
267,194
260,491
(5,699)
-
: Children/families
-
57,106
11,057
(46,049)
-
: Holiday schemes
-
-
(5,531)*
(5,531)
-
: Community develop
-
-
(1,429)*
(1,429)
-
: Royal Wharf
(6,389)
55,057
107,376
58,708
-
Fixed assets:
: Community garden
4,500
-
165
-
: Re-development
124,637
-
-
(21,018)
-
Building development
-
21,018
21,018
-
386,981
379,357
393,147
-
-|2024
£
652
652
380
-|
|---|---|---|
|||1,684|
|||Balance
31 March
2025
£
265,237
-
-
-
-
4,335
103,619
-|
||386,981
379,357
393,147
-
-|373,191|
* Negative expenditure has arisen because allowable restricted fund expenditure exceeded actual expenditure and was not repayable to the funder.
25
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **16 Fund reconciliation (continued)**
## **(a) Unrestricted funds (continued)**
|**Prior period:**
General Funds (BVH)
: Children/families
: Holiday schemes
: Community develop
: Royal Wharf
Fixed assets:
: Community garden
: Re-development
Building development|Balance
01 April
2023
Income
Expenditure
Transfers
Gains /
(losses)
Balance
31 March
2024
£
£
£
£
£
£
274,804
228,588
(269,620)
30,461
-
264,233
-
-
29,342
(29,342)
-
-
-
4,498
(4,096)
(402)
-
-
-
4,425
(28,708)
24,283
-
-
10,434
137,140
(128,963)
(25,000)*
-
(6,389)
4,500
-
-
-
-
4,500
137,747
-
-
(13,110)
-
124,637
9,361
-
(22,471)
13,110
-
-|
|---|---|
||436,846
374,651
(424,516)
-
-
386,981|
* This transfer represented £25,000 received as a contribution to WSF management and overhead costs from the owners of the Royal Wharf Community Dock.
## **(b) Restricted funds**
|**Current period:**
Restricted Funds
: Children/families
: Holiday schemes
: Community develop
: Royal Wharf
: Re-development
**Prior period:**
Restricted Funds
: Children/families
: Holiday schemes
: Community develop
: Royal Wharf
: Re-development|Balance
01 April
2024
Income
Expenditure
Transfers
Gains /
(losses)
Balance
31 March
2025
£
£
£
£
£
£
39,083
245,184
220,020
-
64,247
-
71,244
71,244
-
-
-
9,107
74,241
61,267
-
-
22,081
-
-
-
-
-
-
13,685
(13,685)
1
-
-
(1)|
|---|---|
||61,875
376,984
352,532
-
-
86,327|
||Balance
01 April
2023
Income
Expenditure
Transfers
Gains /
(losses)
Balance
31 March
2024
£
£
£
£
£
£
61,493
264,545
286,955
-
39,083
1,989
46,562
48,551
-
-
-
11,109
36,000
38,002
-
-
9,107
-
-
-
-
-
-
17,131
-
3,446
-
-
13,685|
||91,722
347,107
376,954
-
-
61,875|
26
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **17 Analysis of net assets between funds**
|**Current period:**
Fixed assets
Cash and current investments
Other current assets
Other current liabilities
Provisions / pensions
Total
**Prior period:**
Fixed assets
Cash and current investments
Other current assets
Other current liabilities
Provisions / pensions
Total|Unrestricted
funds
Designated
funds
Restricted
funds
**Total Funds**
**2025**
Total funds
2024
£
£
£
**£**
£
12,625
4,335
-
**16,960**
6,160
287,324
103,619
86,327
**477,270**
408,903
18,716
-
-
**18,716**
74,842
(53,428)
-
-
**(53,428)**
(41,049)|
|---|---|
||265,237
107,954
86,327
**459,518**
448,856|
||Unrestricted
funds
Designated
funds
Restricted
funds
**Total Funds**
**2024**
Total funds
2023
£
£
£
**£**
£
1,660
4,500
-
**6,160**
11,687
222,391
124,637
61,875
**408,903**
528,799
74,842
-
-
**74,842**
118,462
(41,049)
-
-
**(41,049)**
(130,379)
-
-
-
-|
||257,844
129,137
61,875
**448,856**
528,569|
## **18 Reconciliation of net income / (expenditure) to net cash flow from operating activities**
|Net income / (expenditure) for year
Rents received from investment properties
Interest receivable
Interest payable
Depreciation and impairment of tangible fixed assets
(Profit) / loss on disposal of tangible fixed assets
(Profit) / loss on disposal of fixed asset investments
Provisions less payments
(Increase) / decrease in stock
(Increase) / decrease in debtors
Increase / (decrease) in creditors
Net cash flow from operating activities|**2025**
**£**
**10,662**
**-**
**(7,313)**
**-**
**22,451**
**-**
**-**
**-**
**-**
**56,126**
**12,379**
**94,305**|2024
£
(79,713)
-
(1,819)
-
20,190
-
-
-
-
43,620
(89,330)|
|---|---|---|
|||(107,052)|
## **19 Events after the end of the period**
No significant post year end events were identified.
## **20 Off-balance sheet arrangements**
No off-balance sheet arrangements identified
27
**West Silvertown Village Community Foundation Notes to the Financial Statements Year Ended 31 March 2025**
## **21 Related party transactions**
|||**2025**|2024|
|---|---|---|---|
|||£|£|
|Statement of financial activities:||||
|Britannia Village Company Limited||||
|−|Activities for generating funds (income)|**57,256**|56,500|
|−|Estate service charge (expenditure)|**-**|-|
|Bonny Downs Community Association||||
|−|Grants and donations (income)|**-**|3,286|
|Britannia Educational Trust||||
|−|Activities for generating funds (income)|**14,490**|19,958|
|−|Charitable activities (expenditure)|**-**|-|
|Royal|Docks Community Church|||
|−|Activities for generating funds (income)|**5,651**|5,651|
|Salaries of trustee and key management personnel family members||||
|−|C Lee (spouse of J H Lee)|**11,963**|31,350|
|−|D Fernandes (spouse of H Fernandes)|**18,939**|12,906|
|Balance|sheet|||
|Royal|Docks Community Church|||
|−|Debtors: amount due within one year (Trade debtors)|**400**|400|
The F Cantle a trustee of the foundation is also a director of Britannia Village General Management Company Limited which contributes £57,093 towards the Village Hall annual running costs from the estate service charge collected from residents. This relationship ended during the year ended 31 March 2025.
The CEO is the chair of Trustees of Britannia Educational Trust who made a grant to the foundation to support local families in need and a donation to the summer scheme for children. J Courtney was employed as a teacher by BET until July 2024.
The J H Lee (a trustee of the foundation) and the CEO are both trustees of Royal Docks Community Church which hires the BV hall for Sunday activities.
Two family members of trustees and key management personnel are paid employees of the Foundation. Both appointments were made following open recruitment processes.
## **22 Financial instruments**
|**Financial instruments**|||
|---|---|---|
|The Foundation’s financial instruments may be analysed as follows:
**Financial Assets**
**Financial Assets Measured at Amortised Cost**
Trade Debtors
Other Debtors
Cash and Cash Equivalents
**Total Financial Assets**
**Financial Liabilities**
**Financial Liabilities Measured at Amortised Cost**
Trade Creditors
Other Creditors
Bank loans and overdrafts payable within one year
Bank loans and overdrafts payable after one year
**Total Financial Liabilities**|**2025**
**£**
**2,705**
**16,011**
**477,271**
**495,987**
**32,462**
**20,965**
**-**
**-**
**53,427**|2024
£
53,332
21,510
408,902|
|||483,744|
|||13,344
27,705
-
-|
|||41,049|
28