2023-03-31-accounts - Bishop Creighton House Settlement

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Bishop Creighton House Settlement operating as The Creighton Centre

Annual Report and Financial Statements

Year ended 31 March 2023

Company number: 3217598 Charity number: 1059084

Bishop Creighton House Settlement

Contents

For the year ended 31 March 2023

Reference and administrative information...................................................................................... 2 Trustees ’ annual report................................................................................................................. 3 Independent auditor ’ s report ....................................................................................................... 12 Statement of financial activities (incorporating an income and expenditure account).................... 16 Balance sheet .............................................................................................................................. 17 Statement of cash flows ............................................................................................................... 18 Notes to the financial statements ................................................................................................. 19

Bishop Creighton House Settlement

Reference and administration details

For the year ended 31 March 2023

Company number	3217598
Charity number	1059084
Registered office and	378 Lillie Road, London, SW6 7PH
operational address
Trustees	Trustees, who are	also directors under Company Law, who served during
	the year and up to	the date of this report were as follows:
	Lee Smith	Chair
	Jane Walker	Treasurer
	Sidona Assefa	Appointed 13 December 2022
	Tom Fitzgerald	Resigned on 26 April 2023
	Tom Hackett
	Raika Hadipour	Appointed 22 February 2023
	Alex Hearn	Appointed 13 December 2022
	Omid Miri	Appointed 22 February 2023
	Alex Morley
	Rhys Owen
	Jana Roznovska	Appointed 13 December 2022
	Nikos Souslous	Appointed 13 December 2022
Key Management	Rory Gillert	Chief Executive & Company Secretary
Personnel	Matthew Byrne	Care & Repair Manager
	Jessica Lawn	Older People’s Services Manager
	Caecilia Isidore	Safer Homes & Community Centre Manager
Bankers	CAF Bank Ltd	25 Kings Hill Avenue,
		Kings Hill, West Malling,
		Kent, ME19 4JQ
Auditors	Shipleys LLP	10 Orange Street,
		Haymarket,
		London,
		WC2H 7DQ

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

The trustees present their report, including the directors report required under company law, and the audited financial statements for the year ended 31 March 2023.

Reference and administrative information set out on page 2 form part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Objectives and activities

Purposes and aims

The trustees review the aims, objectives and activities of the charity each year. This report looks at the charity’s achievements and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activities remained focused on its stated purposes.

The trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives that have been set.

The Aims of the Charity

The Creighton Centre (registered as Bishop Creighton House Settlement) exists to provide a community centre and a number of social support and welfare services for people living in the London Borough of Hammersmith & Fulham (LBH&F) and surrounding areas. It specialises in meeting the needs of people who are old, disabled, young or vulnerable and aims to support their independence, health and wellbeing.

The Creighton Centre fulfils charitable purposes as outlined in the Charities Act 2011 principally through 'the relief of those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage'. The Creighton Centre meets the public benefit requirement of the Act through the range of its services to residents in the Borough, as described in the 'Activities' and 'Achievements & Performance' sections.

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

Activities

Community Centre: runs clubs and groups and provides meeting space for local groups and office space for local voluntary and community organisations.
Learning Disability Outreach: deploys volunteers to mentor young people with learning disabilities and offers cultural, social, educational and employment opportunities.
Homeline: our befriending service, which includes daily phone calls to isolated older people to check their well-being and reduce isolation, plus a visiting service, offering home visits by volunteers.
Care & Repair: a home improvement agency for older and disabled people.
Safer Homes: a service offering home safety and security and small jobs for older, vulnerable and disabled people and for families with children under five. Safer Homes also offers a small jobs service for those with the means to pay.
Keep Active H&F: a volunteer delivered project, run in partnership with the NHS in Hammersmith & Fulham, helping older people back to fitness after a fall or illness.

Achievements and performance

The charity's main activities and the people it tries to help are described below. All activities are undertaken to further the organisation’s charitable purposes for the public benefit.

With effect from June 2023, we changed our operating name to The Creighton Centre. The new name is a better reflection of who we are and what we do. Bishop Creighton House was established as a Christian charity in 1908, but we have been secular and inclusive in our approach for many years. For some decades after the charity was set up, volunteer 'settlers' lived at Bishop Creighton House, but that is no longer the case and we were often mistaken for a hostel or a care home.

We have retained the Creighton name for continuity and to celebrate Louise Creighton, the Bishop's widow, who was the driving force behind the establishment of Bishop Creighton House. The Creighton Centre is the operating name. Bishop Creighton House Settlement remains the legal name of the charity and the company.

In October 2022, working with Orsini-Brewin Architects and Kessey Construction, we completed phase 1 of the redevelopment of the Community Centre, which improves access for people with disabilities and provides seven new basement workshops. The workshops (rented out for metalwork, photography, jewellery-making etc.) generate income that can help to fund our projects in the community. We are

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

grateful to The Band Trust and LB Hammersmith & Fulham, who made generous financial contributions towards the cost of the works. We will fundraise for phase 2, the ground floor works, during 2023/24.

Community Centre

The Community Centre provides meeting space for residents of LBH&F and offers a range of recreational, educational and cultural activities. In the year, it was used by 1035 group members who attended 74 different classes, events and activities.

Learning Disability Outreach

LDO is a service for adults with learning disabilities, providing social opportunities, mentoring from staff and volunteers, health and wellbeing activities, educational/skills workshops, a literacy programme, employment advice and casework support. Priority is given to people who are particularly isolated or in periods of transition - such as those leaving school or college – who have few or no other sources of support. During the year, the service worked with 105 people, assisted by 12 volunteer mentors.

Homeline

Homeline provided daily phone calls, volunteer home visits, casework, social events and newsletters for around 304 isolated older people. The service reduces isolation and loneliness and acts as a safety net, identifying problems before they become a crisis. Homeline staff recruit, train and manage volunteers, conduct ‘safe and well checks’ for scheme members who have not answered their phone for an agreed number of days, and carry out casework and advocacy for those experiencing problems and needing additional support. Post pandemic, Homeline has carried out assessments of members’ needs to ensure support is offered to the most isolated and vulnerable.

The telephone befriending service operates every day of the year including bank holidays when people are likely to feel more isolated. 33 volunteers and 3 staff made almost 12,000 telephone befriending calls to around 211 clients. Homeline had 58 client/volunteer home visiting/walking matches, held 154 social events with 950 attendances and staff helped with over 650 pieces of casework, supporting 138 members. There were 87 active volunteers who gave over 8000 hours of their time.

Care & Repair

Care & Repair is a home improvement agency, one of a national network of agencies. Our staff help older, disabled and vulnerable homeowners and private and council tenants to adapt their homes, to meet their needs and make them safe and accessible. Staff draw up building specifications for the proposed adaptations, help clients to access statutory grants, appoint approved building contractors

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

and oversee all the work. Crucially, we also provide vital support to some very vulnerable clients during what can be a major upheaval. 91 jobs were carried out in the year.

Safer Homes

The service offers home security and safety equipment installations and advice to older and disabled people, to families with children under five and to people who have experienced domestic violence, burglary or hate crime. Safer Homes visited 187 properties. Home safety assessments were carried out for 98 households, fitting over 600 pieces of safety, security and fire safety equipment. 63 small jobs were completed, 42 ‘home essentials’ tasks were carried out and we fitted draught proofing for 18 households.

Keep Active Hammersmith & Fulham

KA H&F is a volunteer delivered project, run in partnership with H&F NHS Rehabilitation Services, helping older people to be independent in their homes after a fall or period of illness. Referrals are made by Community Rehabilitation Teams (e.g. Community Independence Services, Falls Prevention and Neurological Rehabilitation Teams), for clients including those classed as clinically vulnerable or suffering from debilitating conditions such as Parkinson’s disease, and life changing incidents such as strokes. The service helped 76 people. This year Keep Active started a new strength and balance exercise class for clients and members of the community aged 60 plus. 37 classes were held with 264 attendances.

Financial Review

Income for the year was £962,964. This figure includes a Section 106 grant of £250,000 from LB Hammersmith & Fulham for the redevelopment of the basement. Excluding the impact of this grant for capital expenditure, underlying income was £712,964, an increase of £110,323 on 2022. Expenditure was £683,758, leaving a surplus of £29,206 when the Section 106 grant is excluded.

Including the £250,000 grant and net losses on investments of £81,214, the net surplus in the accounts came to £197,992 (2022: a net surplus of £202,264).

Investment Policy & Performance

The organisation continued with the investment policy originally formulated in 2006, reviewed by the trustees in February 2016. The value of the investments decreased by £21,214 during the year, a sign of volatility in the markets. The investment policy will be reviewed again later in 2023.

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

Fundraising Activity & Performance

Fundraised income was up £110,000 from the previous year, partly offset by the £69,901 increase in expenditure. This is a relatively good outcome in view of the economic climate.

The Creighton Centre employs a 21 hour per week fundraiser, who concentrates mainly on applications to trusts and foundations. The charity does not use commercial fundraisers and does not raise funds from the general public.

Principal risks and uncertainties

Risk Management

The Trustees maintain a detailed risk register, and ensure that strategies are in place to minimise organisational risk. A range of policies and procedures, updated regularly, are in place to guard against major financial and operational risks, and risk management underpins strategic planning.

In the normal course of events, trustees consider the principal risks to be financial (lack of funding, reduced reserves), operational (IT system failure, for example) and strategic (competition from other agencies, the political environment). These risks are reviewed regularly via management accounts and financial projections and assessments by the Chief Executive and management team, reported to the trustees. Clearly, future pandemics are a concern and are now included in the charity’s risk register.

Reserves policy and going concern

Reserves Policy

The trustees consider that ensuring an adequate level of reserves is an essential part of their fiduciary duty. Reserves help the charity cope with unforeseen events and opportunities. Every year a thorough assessment is undertaken of the risks and opportunities attached to our work, including consideration of the income base, staffing situation, organisational risks and strategic aims, including the redevelopment of the building. Designated and general funds for 2022/23 were £420,911 in total (£322,900 and £118,053 respectively).

£100,000 of the reserves are designated as funds for maintenance of the existing building and redevelopment of a new building.

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

The trustees confirm that the current level of reserves is broadly in line with their target of £389,000. In calculating the target figure, a number of factors are taken into account, including staff redundancy costs, building maintenance, replacement of equipment and monies to continue projects in the event of shortfalls in external funding.

A full analysis of reserves and designated funds and the reasons for holding them can be found in note 19 to the accounts.

Within unrestricted funds, £975,340 were property revaluation funds relating to the charity’s freehold property and £1,340,000 were fair value reserves.

Despite the coronavirus pandemic (and the possibility of others) and economic issues since, trustees believe The Creighton Centre remains a going concern and there are no material uncertainties. Trustees believe that Creighton Centre services are sufficiently adaptable to meet clients’ needs and the requirements of funding bodies.

Plans for the future

We assume that we will continue to offer vital services for our clients and plan to:

Work with Orsini-Brewin Architects to carry out phase 2 of the building redevelopment, which will include ground floor community centre improvements and a new facade. Whether this comes to fruition largely depends on capital grants and donations in 2023/24.
Given public sector cuts and diminished grant funding to the third sector, pursue social enterprise opportunities and alternative funding streams.
Increase unrestricted income through Gift Aid, corporate donations, legacy fundraising, office, studio and workshop rents and room lettings.
Develop new services in Hammersmith & Fulham and other boroughs as opportunities arise, in particular, neighbouring Kensington & Chelsea and Westminster.

Structure, governance and management

The organisation is a charitable company limited by guarantee, incorporated on 27 June 1996 and registered as a charity on 8 November 1996.

The company was established under a memorandum of association which established the objects and powers of the charitable company and is governed under its articles of association.

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

The charity is controlled by a board of trustees who make all the strategic decisions for the charity. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 8 to the accounts.

The day-to-day operations are delegated to the senior management team. The pay of management personnel (apart from the Chief Executive) is governed by National Joint Council for Local Government Services (NJC) pay scales. The CE does not receive annual increments in line with the NJC scales, but does get public sector cost of living increases as negotiated by the NJC and trade unions.

Appointment of trustees

The board of trustees meets nine times a year. At the Annual General Meeting one third of trustees retire by rotation, and are eligible for re-election. The board can also co-opt additional trustees during the year, who hold office until the next AGM, when they may be re-appointed. The board of trustees elects the Chair and Treasurer. When necessary, trustees are recruited through the media and specialist recruitment agencies.

On appointment, trustees complete a register of interests, and receive copies of the charity’s accounts, Memorandum & Articles of Association, and major policies. Trustees are encouraged to take up volunteer roles in BCH’s various projects and to participate in training opportunities.

Trustee induction and training

All new trustees go through a recruitment and induction process and are selected with a view to ensuring that the board has an appropriate mix of skills and experience relevant to BCH’s strategic and operational requirements. Regular trustee skills audits help to identify any gaps in skills or experience, and these are addressed by advertising openly through a variety of media.

Related parties and relationships with other organisations

BCH works with a range of other third sector, statutory and private organisations, but currently has no formal working partnerships.

Funds held on behalf of others

As part of the Care and Repair service, The Creighton Centre applies for grants for home improvements and repairs from the local authority and housing associations and undertakes or oversees the care and repair works on behalf of the clients. The clients' grants are paid directly into a special care and repair

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

client bank account and records are kept to note how much money has been received for each client and how much has been spent. At the year end, £65,829 was held in the client bank account on behalf of clients.

Statement of responsibilities of the trustees

The trustees of The Creighton Centre (who are also directors of Bishop Creighton House Settlement for the purposes of company law) are responsible for preparing the trustees’ annual 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 which 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 judgements and estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards and statements of recommended 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 that the charity will continue in operation.

The trustees are responsible for keeping adequate accounting records that 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.

In so far as the trustees are aware:

There is no relevant audit information of which the charitable company’s auditors are unaware
● The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2023

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The total number of such guarantees at 31 March 2023 was six (2022 : six). The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Auditors

Shipleys LLP were appointed as the charitable company’s auditors during the year and have expressed their willingness to continue in that capacity.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

The trustees’ annual report was approved by the trustees on 15 November 2023 and signed on their behalf by

Lee Smith Chair of Trustees

Jane Walker Treasurer

Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2023

Independent auditor’s report to the members of Bishop Creighton House Settlement

Opinion

We have audited the financial statements of Bishop Creighton House Settlement (“the charitable company”) for the year ended 31 March 2023 which comprise the Statement of Financial Activities (incorporating the Income and Expenditure Account), the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Bishop Creighton House Settlement’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion

Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2023

on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Trustees Annual Report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the directors’ report included within the Trustees Annual Report has been prepared in accordance with applicable legal requirements.

Matters on Which We Are Required to Report By Exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the Trustees Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to report to you if, in our opinion:

adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees’ remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of Trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2023

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

The extent to which the audit was considered capable of detecting irregularities including fraud

We obtained an understanding of the charitable company’s activities, controls and laws and regulations and assessed the susceptibility of the charitable company’s financial statements to material misstatement from irregularities, including fraud.

We determined that the laws and regulations that are most significant to the charitable company are the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the 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) (Charities SORP (FRS 102)), Companies Act 2006, Charities Act 2011 and the charitable company’s Articles of Association.

Based on this understanding we designed our audit procedures to detecting irregularities, including fraud. Testing undertaken included making enquiries on the management and those charged with governance; journal entry testing; review of bank letters, investments reports, trustee board minutes and the Articles of Association; review of transactions for any undisclosed related party transactions; reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. These procedures were designed to provide reasonable assurance that the financial statements were free from fraud or error.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2023

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of Our Report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company, the charitable company’s members as a body and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Tim Hardy (Senior Statutory Auditor) For and on behalf of Shipleys LLP Chartered Accountants and statutory auditors 10 Orange Street Haymarket London, WC2H 7DQ 20 November 2023

Bishop Creighton House Settlement

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2023

2023 Total £ 23,031 62,073 104,146 108,691 136,855 63,435 48,520 77,344 75,504 13,365	Unrestricted £ 18,101 32,556 - - 59,857 4,571 - 60,868 61,576 1,839	2022 Total £ 22,262 62,217 81,070 100,012 101,607 69,577 41,613 60,868 61,576 1,839
712,964 250,000	239,368 -	602,641 250,000
962,964	239,368	852,641
22,691 120,202 57,915 111,463 132,851 102,877 84,229 41,522 10,008	21,326 83,651 32,556 - - 55,246 4,571 - -	21,326 83,651 50,675 101,885 125,102 97,106 81,329 53,083 -
683,758	197,350	614,157
279,206 (21,214) (60,000)	42,018 3,780 (40,000)	238,484 3,780 (40,000)
197,992 -	5,798 (52,732)	202,264 -
197,992 3,097,886	(46,934) 2,856,934	202,264 2,895,622
3,295,878	2,810,000	3,097,886

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 19 to the financial statements.

The capital grant of £250,000 from The Mayor and Burgesses of the London Borough of Hammersmith and Fulham is for the redevelopment of the BCH building. It was received during financial year 2022/23 and most of it was expended in 2022/23. Total income for the projects in the year was £712,964.

Bishop Creighton House Settlement

Balance Sheet

As at 31 March 2023

______________ Company no. 3217598 Note £ Fixed assets Tangible assets 12 Investment Properties 13 Investments 14 Current assets Debtors 15 76,534 Cash at bank and in hand 21 457,103 533,637 Liabilities Creditors : amounts falling due within one year 16 226,211 Net current assets Total net assets 18 The funds of the charity 19 Restricted income funds Unrestricted income funds Designated funds 322,900 Property revaluation reserve 975,340 Fair value reserve 1,340,000 General 118,053 Total unrestricted funds Total charity funds	______ 2023 £ £ 1,511,857 1,340,000 136,595 2,988,452 34,905 528,885 563,790 102,984 307,426 3,295,878 539,585 284,700 995,448 1,400,000 129,852 2,756,293 3,295,878	_____ 2022 £ 1,081,987 1,400,000 155,093 2,637,080 460,806 3,097,886
		287,886 2,810,000 3,097,886

Approved by the trustees on 15 November 2023 and signed on their behalf by

Lee Smith	Jane Walker
Chair of Trustees	Treasurer

Bishop Creighton House Settlement

Statement of cash flows

For the year ended 31 March 2023

Reconciliation of net income to net cash flow from operating activities

Net income for the reporting period (as per the statement of financial activities) Depreciation charges Loss on disposal of fixed assets (Losses) / Gains on investments Losses on investment properties Dividends, interest and rent from investments Decrease / (Increase) in debtors Increase in creditors Net cash provided by operating activities 2023 £ £ Cash flows from operating activities Net cash provided by operating activities 316,575 Cash flows from investing activities : Dividends, interest and rents from investments 75,504 Decrease in cash held by investment manager (1,965) Purchase of fixed assets (461,145) Proceeds from sale of investments 33,050 Purchase of investments (33,801) Net cash provided /(used) by investing activities (388,357) Change in cash and cash equivalents in the year (71,782) Cash and cash equivalents at the beginning of the year 528,885 Cash and cash equivalents at the end of the year 457,103	2023 £ 197,992 30,770 505 21,214 60,000 (75,504) (41,629) 123,227 316,575 £ 61,576 434 (25,711) 22,930 (21,976)	2022 £ 202,264 28,141 - (3,780) 40,000 (61,576) 17,954 11,784 234,787
		2022 £ 234,787 37,253 272,040 256,845 528,885

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies

a) Statutory information

Bishop Creighton House Settlement is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address is 378 Lillie Road, London SW6 7PH.

b) Basis of preparation

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) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The functional currency of the charity is considered to be pounds sterling because that is the currency of the primary economic environment in which the charity operates. The financial statements are also presented in pounds sterling.

The amounts in the financial statements are presented to the nearest £, unless otherwise stated.

c) Public benefit entity

The charitable company meets the definition of a public benefit entity under FRS 102.

d) Going concern

As mentioned in the trustees’ report, despite the coronavirus pandemic and attendant economic issues, trustees believe BCH remains a going concern and there are no material uncertainty exists. Throughout the calendar years 2022/2023, Trustees believe that BCH services are sufficiently adaptable to meet clients’ needs and the requirements of funding bodies.

On completion of the building redevelopment, workshops, studios and new meeting space have generated income so we are now less reliant on statutory and trust funding.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the Charity or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

Government assistance in the form of Coronavirus Job Retention Scheme and Job Support Schemes is recognised as income when an eligible claim has been submitted.

Other government and local authority grants are recognised at fair value when the company has entitlement after any performance conditions have been met, the receipt is probable and the amount can be measured reliably.

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

f) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure, which meets these criteria, is charged to the fund.

Unrestricted funds are donations and other income received or generated for the charitable purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular purposes.

i) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Cost of raising funds relate to the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
Expenditure on charitable activities includes the costs of delivering services to further the purposes of the charity and their associated support costs.
Expenditure on cost of trading and investment management comprising the costs of properties agent fees, investment management fees and their associated support costs.
Other expenditure represents those items not falling into any other heading.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

j) Allocation of support costs

Expenditure is allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis, which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities based on the average number of staff involved in each activity.

	Community Centre	7%
	Learning Disability Outreach	17%
	Homeline	23%
	Care and Repair	20%
	Safer Homes	15%
	Keep Active H&F	7%
	Support costs	8%
	Governance costs	3%

Support and governance costs are re-allocated to each of the activities on the following basis, which is an estimate, based on staff time, of the amount attributable to each activity.

	Community Centre	7%
	Learning Disability Outreach	22%
	Homeline	27%
	Care and Repair	20%
	Safer Homes	13%
	Keep Active H&F	11%

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

k) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities based on the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Freehold Property (excluding land) 2% on deemed cost
Freehold Improvements - Huts 10% on cost  Freehold Improvements – Basement 2% on cost  Buildings 10% on cost  Furniture & Fittings 4% or 25% on cost  Computer Equipment 25% on cost  Motor Vehicles 25% on cost

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

1 Accounting policies (continued)

l) Investment properties

Investment properties are measured initially at cost and subsequently included in the balance sheet at fair value. Investment properties are not depreciated. Any change in fair value is recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet.

m) Listed investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities and any excess of fair value over the historic cost of the investments will be shown as a fair value reserve in the balance sheet. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading “Net gains/ (losses) on investments” in the statement of financial activities. The charity does not acquire put options, derivatives or other complex financial instruments.

n) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

o) 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. Cash balances exclude any funds held on behalf of service users.

p) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets 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 with the exception of bank loans, which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable under the scheme by the charity to the fund. The charity has no liability under the scheme other than for the payment of those contributions.

r) Operating leases

The charity classifies the lease of equipment as an operating lease as the title remains with the lessor. Rental charges are charged on a straight-line basis over the term of the lease.

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

2 Income from donations and legacies

Unrestricted £ Donations received from Charitable Trusts 15,466 Other donations 3,550 19,016	Restricted £ - 4,015 4,015	2023 Total Unrestricted £ £ 15,466 16,034 7,565 2,067 23,031 18,101	Restricted £ - 4,161 4,161	2022 Total £ 16,034 6,228 22,262

3 Income from charitable activities

Unrestricted £ LBHF – 3rdSector Investment Fund - Coronavirus Job Retention Scheme - Locality - United in Hammersmith & Fulham - Room hire 42,291 Other income - a) Sub-total for Community Centre 42,291 LBHF – Adult Social Care Grant - The Girdlers Company - Groundwork London - Mrs L D Rope Third Charitable Trust - The Rest-Harrow Trust - W G Edwards Charitable Foundation - City Bridge Trust - The Edward Gostling Foundation - February Foundation - The Souter Charitable Trust - The Baily Thomas Charitable Trust - The 29thMay 1961 Charity - The Inman Charity - David Solomons Charitable Trust - The Sir James Roll Charitable Trust - Awards for all - Other income - b) Sub-total for Learning Disability Outreach -	Restricted £ 19,722 - - - - 60 19,782 20,000 2,750 4,179 1,666 500 1,600 39,679 1,726 5,000 - 5,000 4,000 3,750 750 750 6,580 6,216 104,146	2023 Total Unrestricted £ £ 19,722 - - 2,449 - - - - 42,291 30,107 60 - 62,073 32,556 20,000 - 2,750 - 4,179 - 1,666 - 500 - 1,600 - 39,679 - 1,726 - 5,000 - - - 5,000 - 4,000 - 3,750 - 750 - 750 - 6,580 - 6,216 - 104,146 -	Restricted £ 19,000 - 10,000 200 - 461 29,661 20,000 - - - - - 34,621 3,274 - 2,000 - 4,000 1,250 - - - 15,925 81,070	2022 Total £ 19,000 2,449 10,000 200 30,107 461
				62,217
				20,000 - - - - - 34,621 3,274 - 2,000 - 4,000 1,250 - - - 15,925
				81,070

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

3 Income from charitable activities (continued)

Unrestricted £ LBHF – 3rdSector Investment Fund - Masonic Charitable Foundation - The Field Family Charitable Trust - Drapers Charitable Trust - National lottery Community Fund - United in Hammersmith and Fulham - Mercers Charitable Trust - The Oliver Morland Charitable Trust - Dr Edwards and Bishop King’s Fulham Charity - Other Income - c) Sub-total for Homeline - LBHF – Adult Social Care Grant - Fee Income 95,135 d) Sub-total for Care & Repair 95,135 LBHF – 3rdSector Investment Fund - Coronavirus Job Retention Scheme - Masonic Charitable Foundation - National Lottery Community Fund - United in Hammersmith & Fulham - Awards For ALL - Fee Income 3,399 Other income - e) Sub-total for Safer Homes 3,399 LBHF – Investment Fund - Woodroffe Benton Foundation - The Frognal Trust - Edward Gostling Foundation - Dr Edwards and Bishop Kings Fulham Charity - The Innholders Charitable Foundation - Other Income - f) Sub-total for Keep Active H&F -	Restricted £ 67,470 7,127 3,250 5,348 17,583 1,773 3,740 400 - 2,000 108,691 41,720 - 41,720 51,900 - 1,160 2,618 174 - - 4,184 60,036 41,520 500 250 3,333 2,917 - - 48,520	2023 Total Unrestricted £ £ 67,470 - 7,127 - 3,250 - 5,348 - 17,583 - 1,773 - 3,740 - 400 - - - 2,000 - 108,691 - 41,720 - 95,135 59,857 136,855 59,857 51,900 - - 2,549 1,160 - 2,618 - 174 - - - 3,399 2,022 4,184 - 63,435 4,571 41,520 - 500 - 250 - 3,333 2,917 - - - - 48,520 -	Restricted £ 65,000 - 750 2,652 - 6,366 20,090 - 5,000 154 100,012 41,750 - 41,750 50,000 - - - 300 2,617 - 12,089 65,006 40,000 - - 1,500 113 41,613		2022 Total £ 65,000 - 750 2,652 - 6,366 20,090 - 5,000 154
					100,012
					41,750 59,857
					101,607
					50,000 2,549 - - 300 2,617 2,022 12,089
					69,577
					40,000 - - 1,500 113 41,613

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

3 Income from charitable activities (continued)

Unrestricted £ The Band Trust - LBHF Section 106 Grant - g) Sub-total for Property Redevelopment Project - Total Income from Charitable Activities 140,825	Restricted £ - 250,000 250,000 632,895	2023 Total Unrestricted £ £ - - 250,000 250,000 - 773,720 96,984	Restricted £ 250,000 250,000 609,112	2022 Total £ 250,000 250,000 706,096

The grant of £250,000 from The Band Trust and grant of £250,000 from LBHF Section 106 Grant were for the redevelopment of the BCH building project commencing in March 2022 and ending in October 2022.

4 Income from other trading activities

Unrestricted £ Office Rent 49,222 Workshop Licence 15,222 Other Income 12,900 77,344	Restricted £ - - - -	2023 Total Unrestricted £ £ 49,222 47,968 15,222 12,900 12,900 77,344 60,868	Restricted £ - - -	2022 Total £ 47,968 12,900 60,868

5 Income from investments

Unrestricted £ Garden House rental income 64,464 Dividends 8,093 Bank interest 2,882 75,439	Restricted £ - - 65 65	2023 Total Unrestricted £ £ 64,464 57,967 8,093 3,564 2,947 45 75,504 61,576	Restricted £ - - - -	2022 Total £ 57,967 3,564 45
				61,576

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

6a Analysis of expenditure (Current year)

Staff costs (note 8) Other staff costs Volunteer costs Beneficiary costs Premises Office costs Legal & professional fees Tools & materials Insurance Fundraising Depreciation Provision of doubtful debts Others Investment manager's fees Support costs Governance costs Total expenditure 2023 Total expenditure 2022	Raising funds Cost of raising funds Cost of trading & investment management Community Centre £ £ £ 4,580 808 25,803 487 25 - - 60 42 - - - - 54,164 2,896 - 6,479 - - 12,514 - - - - 1,300 1,904 - 1,872 - - 410 22,106 - - (2,943) - - 188 88 - 1,019 - 8,649 96,324 28,829 8,397 18,233 26,456 5,645 5,645 2,630 22,691 120,202 57,915 21,326 83,651 50,675	Charitable Activities Learning Disability Outreach Homeline Care and Repair Safer Homes Keep Active H&F Property Redevelopment Governance costs £ £ £ £ £ £ £ 62,511 86,549 77,930 41,911 28,479 5,955 - 50 620 331 4,954 142 - - 5 273 - - 167 - - 9,455 3,488 - 2,471 - - - - - - - - - - 942 1,128 2,360 943 501 - 110 - - (600) 15 - - 10,442 - - - 6,931 - - - - - 963 - - - 200 107 3,165 79 273 1,737 - 100 240 - 462 3,500 - 4,053 - - - - - - - - - 48 696 71 53 - - - - - - - - - 73,310 95,271 82,221 61,069 31,079 10,008 10,852 31,318 29,050 14,230 18,384 7,872 - 32,206 6,835 8,530 6,426 4,776 2,571 - (43,058) 111,463 132,851 102,877 84,229 41,522 10,008 - 101,885 125,102 97,106 81,329 53,083 - -	Support costs £ 132,976 62 - - 18,931 23,787 2,008 - 6,947 889 - - 546 - 186,146 (186,146) - - -	2023 Total £ 467,502 6,671 547 15,414 75,991 36,250 24,379 6,931 11,314 8,222 30,771 (2,943) 1,690 1,019
				683,758 - -
				683,758
				614,157

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

6b Analysis of expenditure (prior year)

Raising funds Cost of raising funds Cost of trading & investment management £ £ 3,943 701 593 101 - 196 - - - 23,269 - 7,427 - 11,890 - - 1,261 50 1,681 - 585 22,276 - (1,353) - 152 - 1,523 8,063 66,232 8,020 12,176 5,243 5,243 21,326 83,651		Charitable activities	Charitable activities	Charitable activities	Charitable activities
Cost of raising funds £ 3,943 593 - - - - - - 1,261 1,681 585 - - - 8,063 8,020 5,243 21,326	Community Centre £ 20,222 51 - - 54 - - - - - 232 - - - 20,559 27,845 2,271 50,675	Learning Disability Outreach Homeline £ £ 63,002 80,124 51 954 58 322 1,475 678 - - 807 1,053 - - - - - - 19 1,898 390 279 - - - 339 - - 65,802 85,647 29,042 31,063 7,041 8,392 101,885 125,102		Care and Repair £ 70,869 603 - - 456 1,803 128 - 971 31 548 - 107 - 75,516 14,951 6,639 97,106	Safer Homes £ 37,463 9,328 46 - - 1,073 - 3,288 - - 3,769 - 5 - 54,972 21,978 4,379 81,329
			85,647 31,063 8,392
			125,102

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

7 Net income / (expenditure) for the year

This is stated after charging /crediting

This is stated after charging /crediting
	2023	2022
	£	£
Depreciation	30,770	28,141
Lease payments on equipment	8,139	9,199
Interest receivable	2,947	45
Auditors’ remuneration (excluding VAT) - Audit	8,150	7,950

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Salaries and wages Social security costs Employer’s contribution to defined contribution pension schemes Temporary staff and consultants remuneration	2023 £ 400,624 38,944 18,670 9,264 467,502	2022 £ 384,411 35,966 17,947 9,054 447,378

No employee earned more than £60,000 during the year (2022: £nil).

The total employee benefits, comprising gross salaries, pension contributions and employer's national insurance contributions of the key management personnel were £175,579 (2022: £185,593) which is incurred by 5 (2022: 5) staff.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2022: £Nil) incurred by nil (2022: Nil) members relating to attendance at meetings of the trustees.

9 Staff numbers

The average number of employees throughout the year, calculated on a full-time equivalent basis was :


	2023	2022
	No.	No.
Director and core staff	2.8	2.9
Community Centre	0.5	0.4
Care & Repair project	1.5	1.5
Homeline	2.0	2.1
Keep Active H&F	0.8	1.0
Learning Disability Outreach	1.6	1.6
Safe Homes	1.0	0.9
	10.2	10.4

The average number of staff on a head count basis in the year was 17 (2022: 16).

Bishop Creighton House Settlement

For the year ended 31 March 2023

Notes to the financial statement

10 Related party transactions

Aggregate donations from the trustees were £ nil (2022: £90).

During the year Lee Smith, a trustee & director of Kingsmith Care Limited, rented an office and hired rooms from the charity on an arm’s length basis, which occurred in the normal course of the charity's activities. As at the year-end the balance owed to the charity from Kingsmith Care Limited was £ nil (2022: £246). The charity also held a deposit equivalent to one-month rent.

11 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

12 Tangible fixed assets

Cost or valuation At the start of the year Additions Transfers Disposals At the end of the year Depreciation At the start of the year Charge for the year Disposal for the year At the end of the year Net book value At the end of the year At the start of the year	Freehold property £ 1,377,500 - - - 1,377,500 382,052 20,108 - 402,160 975,340 995,448	Building & Freehold improvements Fixtures and fittings Motor vehicles £ £ £ 80,175 55,076 14,000 - - - 486,336 - - - - - 566,511 55,076 14,000 80,173 11,119 1,458 4,052 1,998 3,500 - - - 84,225 13,117 4,958 482,286 41,959 9,042 2 43,957 12,542	Computer Equipment £ 24,341 2,699 - (1,008) 26,032 22,193 1,112 (503) 22,802 3,230 2,148	Assets under construction Total £ £ 27,890 1,578,982 458,446 461,145 (486,336) - - (1,008) - 2,039,119 - 496,995 - 30,770 - (503) - 527,262 - 1,511,857 27,890 1,081,987

The freehold property was valued in 1999 under transitional arrangements in force at that time. The 1999 valuation has been accepted as the carrying value. On incorporation of the charity and transfer from the unincorporated entity the historic cost was £Nil.

Included within the cost of freehold property of £1,377,500 is an amount for land of £372,100. This amount has not been depreciated.

Included within the cost of building & freehold improvements of £566,511 is an amount for buildings of £26,501 and for freehold improvements of £540,010.

All of the above assets are used for charitable purposes.

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

13 Investment properties

Fair value at the start of the year (Decrease) in Fair value Fair value at the end of the year	2023 £ 1,400,000 (60,000) 1,340,000	2022 £ 1,440,000 (40,000) 1,400,000

The properties were valued on 14 July 2023 by Lets Do Business.

14 Investments

Fair value at the start of the year Additions in the year Disposals at opening market value Net (loss)/gain on change in fair value Cash held by investment broker pending reinvestment Fair value at the end of the year Historic cost at the end of the year Investments comprise : Cash held for investments Listed investments Debtors London Borough of Hammersmith and Fulham The Royal Borough of Kensington & Chelsea room hire Trade debtors Prepayments and accrued income Other debtors	2023 £ 152,144 33,801 (33,050) (21,214) 131,681 4,914 136,595 167,323 2023 £ 4,914 131,681 136,595 2023 £ 41,858 - 17,354 17,022 300 76,534		2022 £ 149,318 21,976 (22,930) 3,780 152,144 2,949 155,093
			137,850
			2022 £ 2,949 152,144 155,093
			2022 £ 133 714 16,668 16,901 489 34,905

15 Debtors

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2023

16 Creditors : amounts falling due within one year

	2023	2022
	£	£
Trade creditors	7,574	9,172
Taxation and social security	18,551	10,585
Accruals	101,818	12,799
Deferred income (note 17)	70,036	60,373
Other creditors	28,232	10,055
	226,211	102,984

17 Deferred income

Balance at the beginning of the year Amount released to income in the year Amount deferred in the year Balance at the end of the year	2023 £ 60,373 (58,426) 68,089 70,036	2022 £ 40,024 (40,024) 60,373 60,373

The deferred grants related to the amounts received in advance for which they cover the projects activities in the year 2023/24.

18a Analysis of net assets between funds (current year)

Tangible Fixed Assets Investment Properties Investments Net Current Assets Net Assets at the end of the year	General Unrestricted Funds Designated and other reserves £ £ 46,525 975,340 - 1,340,000 136,595 - (65,067) 322,900 118,053 2,638,240	Restricted Funds £ 489,992 - - 49,593 539,585	Total Funds £ 1,511,857 1,340,000 136,595 307,426 3,295,878

18b Analysis of net assets between funds (prior year)

Tangible Fixed Assets Investment Properties Investments Net Current Assets Net Assets at the end of the year	General Unrestricted Funds Designated and other reserves £ £ 86,539 995,448 - 1,400,000 155,093 - (111,780) 284,700 129,852 2,680,148	Restricted Funds £ - - - 287,886 287,886	Total Funds £ 1,081,987 1,400,000 155,093 460,806 3,097,886

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

19a Movements in funds (current year)

At 1 April 2022 £ Restricted Funds : Care & Repair 11,742 Care & Repair Client Support 2,728 Community Centre 18,792 Homeline - Learning Disability Outreach - Keep Active H&F - Property Redevelopment 250,000 Safer Homes - Safer Homes Client Support 4,624 Total Restricted Funds 287,886 Unrestricted Funds : Designated Funds : Cyclical Maintenance Fund 53,600 Equipment Replacement Fund 36,100 C&R Remedial Works Fund 10,000 Development & Opportunities Fund 15,000 Contingency Fund 70,000 Property Redevelopment Fund 100,000 Designated Funds per Reserves Policy 284,700 Property Revaluation Reserve 995,448 Fair Value Reserves 1,400,000 General Funds 129,852 Total Unrestricted Funds 2,810,000 Total Funds 3,097,886	Income & gains £ 41,720 65 19,782 111,283 104,232 49,152 250,000 60,741 -	Transfers £ - - - 21,568 7,231 - - 20,015 - 48,814	At 31 March 2023 £ 11,742 2,721 22,950 - - 7,630 489,992 - 4,550
	636,975		539,585
53,600 36,100 10,000 15,000 70,000 100,000	9,400 - - 5,000 30,000 -	- - - - - - - - - (48,814) (48,814) -	63,000 29,900 10,000 20,000 100,000 100,000
284,700 995,448 1,400,000 129,852 2,810,000 3,097,886	44,400		322,900
	- - 281,589		975,340 1,340,000 118,053
	325,989		2,756,293
	962,964		3,295,878

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2023

19b Movements in funds (prior year)

At 1 April 2021 £ Restricted Funds : Care & Repair 11,742 Care & Repair Client Support 2,838 Community Centre 7,245 Homeline 8,663 Learning Disability Outreach 3,502 Keep Active H&F - Safer Homes - Safer Homes Client Support 4,698 Property Redevelopment - Total Restricted Funds 38,688 Unrestricted Funds : Designated Funds : Cyclical Maintenance Fund 53,300 Equipment Replacement Fund 35,000 C&R Remedial Works Fund 10,000 Development & Opportunities Fund 15,000 Contingency Fund 70,000 Property Redevelopment Fund 100,000 Designated Funds per Reserves Policy 283,300 Property Revaluation Reserve 1,015,556 Fair Value Reserves 1,440,000 General Funds 118,078 Total Unrestricted Funds 2,856,934 Total Funds 2,895,622	Transfers £ - - - 13,356 17,238 10,920 11,218 - -	At 31 March 2022 £ 11,742 2,728 18,792 - - - - 4,624 250,000
38,688	52,732	287,886
53,300 35,000 10,000 15,000 70,000 100,000	- - - - - -	53,600 36,100 10,000 15,000 70,000 100,000
283,300	-	284,700
1,015,556 1,440,000 118,078	- - (52,732)	995,448 1,400,000 129,852
2,856,934	(52,732)	2,810,000
2,895,622	-	3,097,886

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2023

19 Movements in funds (continued)

Purposes of restricted funds

Care and Repair Client Support Fund

The Care & Repair Client Support Fund income includes £65 interest earned and expenditure of £72 on Care and Repair Clients' Accounts (for more details see page 9).

Safer Homes Client Support Fund

The Safer Homes Client Support Fund income includes £Nil donation and expenditure of £74 spent on some repairs works which the clients cannot afford to pay.

Learning Disability Outreach

This project recruits, trains, supports volunteers to mentor young people with learning disabilities, and supports them to access and succeed in education and employment.

Homeline

Homeline volunteers make daily phone calls and regular visits to housebound older people.

Safer Homes

Provides home safety and security services to older people, disabled people, families with children under five and victims of domestic violence and hate crime.

Care and Repair

Care & Repair is a home improvement agency, helping older, disabled and vulnerable homeowners and private tenants to repair and adapt their homes, making them habitable, safe and accessible.

Community Centre

The centre is open seven days a week to help meet the social and educational needs of the local community.

Keep Active H&F

The project helps older people in H&F to keep mobile at home and in the community, particular after a fall or illness.

Property Redevelopment

Work for basement improvement began in March 2022 and it was completed in October 2022.

Designated Fair Value Reserves

The fair value reserves represents the Balance Sheet valuation of the investment properties

Transfers between funds

The transfer to the restricted Learning Disabilities Services, Homeline and Safer Homes was from unrestricted funds to meet the balance of the cost of these projects.

Purposes of designated funds

The cyclical maintenance and equipment replacement funds are set aside to cover the expenditure required to maintain the building and to replace essential equipment.

Over its first ten years, the Care & Repair Project has managed works for clients valued at over £3.5million. Legal liabilities for any remedial works are covered by professional indemnity insurance, but £10,000 is designated for situations where a negotiated settlement may be more appropriate, or to cover Insurance ‘excess’ payments.

The development & opportunities fund is intended to fund urgent development needs, opportunities for enhancements and new work.

The contingency fund is intended to cover costs in the event of an emergency.

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2023

19 Movements in funds (continued)

The property redevelopment fund is intended to cover all costs incurred to the redevelopment of existing building.

All designated funds are reviewed annually in accordance with the charity's reserves policy.

The property revaluation reserve represents the Balance Sheet valuation of land and buildings; the trustees intend to retain existing properties for the near future.

20 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

21 Funds held by BCH as an intermediary agent

As part of the Care and Repair service, BCH applies for grants for home improvements and repairs from the local authority and housing associations and undertakes or oversees the care and repair works on behalf of the clients. The clients' grants are paid directly into a special care and repair client bank account and records are kept to note how much money has been received for each client and how much has been spent.

BCH undertakes this service as an agent in return for a fee of 12-15%. This income is recognised in the accounts and is disclosed as earned income for care and repair.

At the year-end, £65,829 (2022: £15,934) was held in the client bank account on behalf of clients. As this money does not belong to BCH, it is not included in the balance sheet and the associated income and expenditure for client works is not recognised on the SOFA.

Interest that accrues over time on the money held in the client bank account is recognised by BCH in the accounts but it is treated as restricted for the care and repair client support fund, so goes into the hardship fund.

22 Operating lease commitments

The charity's total future minimum lease payments under non-cancellable operating leases is as follows for each of the following periods

Less than one year One to five years	2023 £ 8,204 14,935 23,139	2022 £ 7,704 20,544 28,248

23 Capital commitments

Capital expenditure contracted for but not provided for in the financial statements is £nil (2022: £460,000) relating to the redevelopment of the community centre in the year 21/22.