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2024-03-31-accounts

Bishop Creighton House Settlement operating as The Creighton Centre

Annual Report and Financial Statements

Year ended 31 March 2024

Company number: 3217598 Charity number: 1059084

Bishop Creighton House Settlement

Contents

For the year ended 31 March 2024

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 2024

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 – Resigned on 17 April 2024
Raika Hadipour Interim Treasurer from April 2024
Sidona Assefa
Tom Hackett Resigned on 17 April 2024
Tom Fitzgerald Resigned on 26 April 2023
Alex Hearn
Omid Miri
Alex Morley Resigned on 17 April 2024
Rhys Owen
Jana Reid
Nikos Souslous
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

2

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

The trustees present their report, including the directors report required under company law, and the audited financial statements for the year ended 31 March 2024.

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.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

Activities

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.

Phase 1 of our building redevelopment, the creation of seven new workshops in the basement, was completed in October 2022. We are currently fundraising for phase 2, the transformation of the ground floor community centre.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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 16,472 group members who attended 67 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 102 people, assisted by 7 volunteer mentors.

Homeline

Homeline provided daily phone calls, volunteer home visits, walking support, casework, social classes and events, trips and newsletters for 302 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 length of time and carry out casework and advocacy for those experiencing problems and needing additional support. Homeline distributed Winter Support Fund payments to older people, as well as delivering 117 Christmas hampers to housebound members.

The telephone befriending service operates every day of the year including bank holidays, when people are likely to feel more isolated. 35 volunteers and 3 staff made around 12,000 telephone befriending calls to 221 clients. Homeline had 54 client/volunteer home visiting/walking matches, held 160 social events with 1300 attendances and staff helped with over 800 pieces of casework, supporting 125 members. There were 91 active volunteers who gave over 8100 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 and oversee all the work. Crucially, we also provide vital support to some very vulnerable clients during what can be a major upheaval. 96 jobs were carried out in the year.

5

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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 231 properties. Home safety assessments were carried out for 100 households, fitting over 374 pieces of safety, security and fire safety equipment. 75 small jobs were completed, 41 ‘home essentials’ tasks were carried out and we fitted draught proofing for 13 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 regain independence in their homes and communities after a fall or period of illness. Referrals are made by NHS Community Rehabilitation Teams (e.g. Community Independence Services and Falls Prevention), people who are clinically frail, living with neurological conditions such as Parkinson’s disease, frequent fallers and those who have experienced life changing incidents such as strokes. An older person is paired with a volunteer who visits for 9 weeks, encouraging independence and helping to prevent hospital re-admissions. This year the service supported 108 people. In addition, 48 strength and balance exercise classes were held for clients and members of the community, with 442 attendances.

Financial Review

Income for the year was £766,342. This figure is less than 2022/23 (£962,964) because in that year we received a £250,000 Section 106 grant from LB Hammersmith & Fulham for the redevelopment of the basement. Expenditure was £762,040, leaving a surplus of £4,302.

Investment Policy & Performance

We decided that the investment portfolio, held for us by Brewin Dolphin/Royal Bank of Canada, would be better utilised as cash, helping towards the costs of phase 2 of the building redevelopment. The portfolio was sold for £132,266 in December 2023.

Fundraising Activity & Performance

Fundraised income was up £53,378 from the previous year, partly offset by the £78,282 increase in expenditure. This is a relatively good outcome in view of the economic climate.

6

Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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 2023/24 were £479,524 in total (£321,000 and £158,524 respectively).

£232,000 of the reserves (including £132,000 from the sale of the investment portfolio) are designated as funds for maintenance of the existing building and redevelopment of a new building.

The trustees confirm that the current level of reserves is broadly in line with their target of £411,000. 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.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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, £955,232 were property revaluation funds relating to the charity’s freehold property and £1,440,000 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:

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.

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.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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 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, £9,166 was held in the client bank account on behalf of clients.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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:

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:

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.

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 2024 was six (2023 : 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.

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Bishop Creighton House Settlement

Trustees’ annual report

For the year ended 31 March 2024

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 6 November 2024 and signed on their behalf by

Lee Smith

Raika Hadipour

Chair of Trustees

Treasurer

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Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2024

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 2024 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:

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

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Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2024

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:

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:

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.

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Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2024

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:

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Bishop Creighton House Settlement

Independent auditor’s report

For the year ended 31 March 2024

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 6 November 2024

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Bishop Creighton House Settlement

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2024

Unrestricted
Note
£
Income from :
Donations and Legacies
2
6,280
Charitable Activities
Community Centre
3a
44,041
Learning Disability Outreach
3b
-
Homeline
3c
-
Care and Repair
3d
110,732
Safer Homes
3e
3,910
Keep Active H&F
3f
-
Other Trading Activities
4
102,390
Investments
5
78,318
Other
6,471
Sub-total
352,142
Charitable activities-capital grants
Property Redevelopment
3g
-
Total Income
352,142
Expenditure on :
Raising Funds
Cost of raising funds
25,579
Cost of trading and investment management
163,755
Charitable Activities
Community Centre
44,041
Learning Disability Outreach
-
Homeline
-
Care and Repair
83,320
Safer Homes
3,910
Keep Active H&F
-
Property Redevelopment
-
Total Expenditure
6
320,605
Net income / (expenditure) before net (losses)
on investments
31,537
Net (losses) on investments
14
(7,221)
Unrealised gains/(losses) on investment
properties
13
100,000
Net income / (expenditure) for the year
7
124,316
Transfers between funds
19a
(7,227)
Net movement in funds
117,089
Reconciliation of funds :
Total funds brought forward
2,756,293
Total funds carried forward
19
2,873,382		 Restricted
£
5,141
19,987
99,915
127,970
41,720
70,871
48,500
-
96
-
414,200
-
414,200
-
-
24,563
105,553
132,748
41,780
69,475
57,589
9,727
441,435
(27,235)
-
-
(27,235)
7,227
(20,008)
539,585
519,577		 2024
Total
£
11,421
64,028
99,915
127,970
152,452
74,781
48,500
102,390
78,414
6,471		 Unrestricted
£
19,016
42,291
-
-
95,135
3,399
-
77,344
75,439
13,365		 Restricted
£
4,015
19,782
104,146
108,691
41,720
60,036
48,520
-
65
-
386,975
250,000
636,975
-
-
15,624
111,463
132,851
41,792
80,830
41,522
10,008
434,090
202,885
-
-
202,885
48,814
251,699
287,886
539,585		 2023
Total
£
23,031
62,073
104,146
108,691
136,855
63,435
48,520
77,344
75,504
13,365
766,342
-		 325,989
-		 712,964
250,000
766,342 325,989 962,964
25,579
163,755
68,604
105,553
132,748
125,100
73,385
57,589
9,727		 22,691
120,202
42,291
-
-
61,085
3,399
-
-		 22,691
120,202
57,915
111,463
132,851
102,877
84,229
41,522
10,008
762,040 249,668 683,758
4,302
(7,221)
100,000		 76,321
(21,214)
(60,000)		 279,206
(21,214)
(60,000)
97,081
-		 (4,893)
(48,814)		 197,992
-
97,081
3,295,878		 (53,707)
2,810,000		 197,992
3,097,886
3,392,959 2,756,293 3,295,878

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 previous year was £712,964.

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Bishop Creighton House Settlement

Balance Sheet

As at 31 March 2024

______________
Company no. 3217598
Note
£
Fixed assets
Tangible assets
12
Investment Properties
13
Investments
14
Current assets
Debtors
15
58,711
Cash at bank and in hand
21
595,096

653,807
Liabilities
Creditors : amounts falling due within one year
16
176,779

Net current assets
Total net assets
18
The funds of the charity
19
Restricted income funds
Unrestricted income funds
Designated funds
453,000
Property revaluation reserve
955,232
Fair value reserve
1,440,000
General
25,150

Total unrestricted funds
Total charity funds		 ______
2024
£
£
1,475,931
1,440,000
-

2,915,931

76,534

457,103


533,637

226,211


477,028

3,392,959
519,577

322,900

975,340

1,340,000

118,053


2,873,382

3,392,959		 _____
2023
£
1,511,857
1,340,000
136,595
2,988,452





307,426
3,295,878
539,585





2,756,293
3,295,878

Approved by the trustees on 6 November 2024 and signed on their behalf by

Lee Smith Raika Hadipour
Chair of Trustees Treasurer

17

Bishop Creighton House Settlement

Statement of cash flows

For the year ended 31 March 2024

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 on investments
(Gains)/ Losses on investment properties
Dividends, interest and rent from investments
Decrease / (Increase) in debtors
(Decrease) / Increase in creditors
Net cash provided by operating activities
2024
£
£
Cash flows from operating activities
Net cash provided by operating activities
(69,052)
Cash flows from investing activities :
Dividends, interest and rents from investments
78,414
Decrease/(Increase) in cash held by investment manager
4,914
Purchase of fixed assets
(743)
Proceeds from sale of investments
132,266
Purchase of investments
(7,806)
Net cash provided /(used) by investing activities
207,045
Change in cash and cash equivalents in the year
137,993
Cash and cash equivalents at the beginning of the year
457,103
Cash and cash equivalents at the end of the year
595,096		 2024
£
97,081
36,669
-
7,221
(100,000)
(78,414)
17,823
(49,432)
(69,052)
£
75,504
(1,965)
(461,145)
33,050
(33,801)		 2023
£
197,992
30,770
505
21,214
60,000
(75,504)
(41,629)
123,227
316,575
2023
£
316,575
(388,357)
(71,782)
528,885
457,103

18

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

1 Accounting policies

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 attendant economic issues, trustees believe BCH remains a going concern and there are no material uncertainty exists. Throughout the calendar years 2023/2024, 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.

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.

19

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

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:

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

20

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

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 8%
• Learning Disability Outreach 15%
• Homeline 21%
• Care and Repair 22%
• Safer Homes 12%
• Keep Active H&F 9%
• Support costs 11%
• Governance costs 2%

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 19%
• Homeline 26%
• Care and Repair 22%
• Safer Homes 13%
• Keep Active H&F 13%

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:

21

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

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.

22

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

2 Income from donations and legacies

Income from donations and legacies
2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Donations received from Charitable Trusts 5,970 - 5,970 15,466 - 15,466
Other donations 310 5,141 5,451 3,550 4,015 7,565
6,280 5,141 11,421 19,016 4,015 23,031
Income from charitable activities
2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
LBHF – 3rdSector Investment Fund - 19,950 19,950 - 19,722 19,722
Room hire 44,041 - 44,041 42,291 - 42,291
Other income - 37 37 - 60 60
a) Sub-total for Community Centre 44,041 19,987 64,028 42,291 19,782 62,073
LBHF – Adult Social Care Grant - 20,000 20,000 - 20,000 20,000
The Girdlers Company - - - - 2,750 2,750
Groundwork London - - - - 4,179 4,179
Mrs L D Rope Third Charitable Trust - - - - 1,666 1,666
The Rest-Harrow Trust - - - - 500 500
W G Edwards Charitable Foundation - 4,137 4,137 - 1,600 1,600
City Bridge Trust - 23,695 23,695 - 39,679 39,679
The Woodroffe Benton - 8,655 8,655 - - -
Garfield Weston Foundation - 20,329 20,329 - - -
The Edward Gostling Foundation - - - - 1,726 1,726
February Foundation - - - - 5,000 5,000
Souter Charitable Trust - - - - 5,000 5,000
The 29thMay 1961 Charity - 4,000 4,000 - 4,000 4,000
The Inman Charity - - - - 3,750 3,750
David Solomons Charitable Trust - - - - 750 750
The Sir James Roll Charitable Trust - 750 750 - 750 750
Awards for all - 3,270 3,270 - 6,580 6,580
The Daisy Trust - 2,000 2,000 - - -
Kathleen Beryl Sleigh Charitable Trust - 2,500 2,500 - - -
FB Coales No 4 (Family) Trust - 1,000 1,000 - - -
Veolia UK-Veolia’s Sustainability Fund - 1,170 1,170 - - -
The CPF Trust - 1,000 1,000 - - -
The Tendril Trust - 1,000 1,000 - - -
Hammersmith United Charities - 2,845 2,845 - - -
United in Hammersmith & Fulham - 981 981 - - -
Other income - 2,583 2,583 - 6,216 6,216
b) Sub-total for Learning Disability Outreach - 99,915 99,915 - 104,146
104,146		 104,146

3 Income from charitable activities

23

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

3 Income from charitable activities (continued)

2024 2023
Unrestricted Unrestricted Restricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £ £ £
LBHF – 3rdSector Investment Fund - - 68,250 68,250 68,250 - 67,470 67,470
Masonic Charitable Foundation - - 21,500 21,500 21,500 - 7,127 7,127
The Field Family Charitable Trust - - 2,000 2,000 2,000 - 3,250 3,250
Mercers Charitable Trust - - - - - - 3,740 3,740
Drapers Charitable Trust - - - - - - 5,348 5,348
National lottery Community Fund - - 30,769 30,769 30,769 - 17,583 17,583
United in Hammersmith and Fulham - - 359 359 359 - 1,773 1,773
Hammersmith United Charities - - 4,692 4,692 4,692 - - -
The Oliver Morland Charitable Trust - - 400 400 400 - 400 400
Other Income - - - - - - 2,000 2,000
c) Sub-total for Homeline - - 127,970 127,970 127,970 - 108,691 108,691
LBHF – Adult Social Care Grant - - 41,720 41,720 41,720 - 41,720 41,720
Fee Income 110,732 110,732 - - 110,732 95,135 - 95,135
d) Sub-total for Care & Repair 110,732 110,732 41,720 41,720 152,452 95,135 41,720 136,855
LBHF – 3rdSector Investment Fund - - 52,500 52,500 52,500 - 51,900 51,900
Masonic Charitable Foundation - - 3,500 3,500 3,500 - 1,160 1,160
Hammersmith United Charities - - 1,877 1,877 1,877 - 174 174
United in Hammersmith & Fulham - - 79 79 79 - - -
National Lottery Community Fund - - 4,582 4,582 4,582 - 2,618 2,618
Fee Income 3,910 3,910 - - 3,910 3,399 - 3,399
Other income - - 8,333 8,333 8,333 - 4,184 4,184
e) Sub-total for Safer Homes 3,910 3,910 70,871 70,871 74,781 3,399 60,036 63,435
LBHF – Investment Fund - 42,000 42,000 - 41,520 41,520
Woodroffe Benton Foundation - - - - 500 500
The Frognal Trust - 2,750 2,750 - 250 250
Edward Gostling Foundation - 1,667 1,667 - 3,333 3,333
Dr Edwards and Bishop Kings Fulham Charity - 2,083 2,083 - 2,917 2,917
f) Sub-total for Keep Active H&F - 48,500 48,500 - 48,520 48,520

24

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

3 Income from charitable activities (continued)

2024 2024 2023
Unrestricted Restricted Total Total Unrestricted Unrestricted Restricted Total
£ £ £ £ £ £ £
- - - - - - - - - -
LBHF Section 106 Grant - - - - - - - - 250,000 250,000
g) Sub-total for Property Redevelopment - - - - 250,000 250,000
Project
Total Income from Charitable Activities 158,683 408,963 567,646 140,825 632,895 773,720

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

2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Office Rent 51,800 - 51,800 49,222 - 49,222
Workshop Licence 35,310 - 35,310 15,222 - 15,222
Other Income 15,280 - 15,280 12,900 - 12,900
102,390 - 102,390 77,344 - 77,344

5 Income from investments

2024 2023
Unrestricted Restricted Total Unrestricted Restricted Total
£ £ £ £ £ £
Garden House rental income 65,587 - 65,587 64,464 - 64,464
Dividends 2,814 - 2,814 8,093 - 8,093
Bank interest 9,917 96 10,013 2,882 65 2,947
78,318 96 78,414 75,439 65 75,504

25

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

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
Bad debt written off
Provision of doubtful debts
Others
Investment manager's fees
Support costs
Governance costs
Total expenditure 2024
Total expenditure 2023		 Raising funds
Cost of
raising
funds
Cost of
trading &
investment
management
Community
Centre
£
£
£
4,888
863
27,552
753
81
-
-
-
221
-
-
-
-
78,477
7,146
-
10,104
-
-
11,892
-
-
-
-
1,108
1,924
-
2,490
-
-
410
22,106
-
-
806
-
-
1,217
-
-
185
-
-
875
-
9,649
128,530
34,919
9,753
29,047
30,961
6,177
6,178
2,724
25,579
163,755
68,604
22,691
120,202
57,915		 Charitable Activities
Learning
Disability
Outreach Homeline
Care and
Repair
Safer
Homes
Keep Active
H&F
Property
Redevelopment
Governance
costs
£
£
£
£
£
£
£
62,747
86,907
97,663
40,154
39,336
-
-
-
60
127
5,125
61
-
-
13
1,192
-
-
373
-
-
7,340
8,035
-
802
1,962
-
-
-
-
-
-
-
-
-
493
1,217
1,927
1,025
504
-
60
-
-
63
158
-
-
10,667
-
-
-
2,289
-
-
-
-
-
1,029
5,000
-
-
300
7
273
-
98
106
-
100
240
238
448
3,500
-
9,727
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5
74
286
-
-
-
-
-
-
-
-
-
-
70,840
97,927 101,331
58,437
42,342
9,727
11,127
28,142
26,083
15,775
10,452
11,044
-
35,954
6,571
8,738
7,994
4,496
4,203
-
(47,081)
105,553 132,748 125,100
73,385
57,589
9,727
-
111,463 132,851 102,877
84,229
41,522
10,008
-		 Support
costs
£
145,127
530
-
-
-
37,630
2,315
-
9,226
1,817
-
-
-
566
-
197,211
(197,211)
-
-
-		 2024
Total
£
505,237
6,737
1,799
18,139
85,623
52,960
25,095
2,289
18,587
4,891
36,669
806
1,217
1,116
875
762,040
-
-
762,040
683,758

26

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

6b Analysis of expenditure (prior 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		 Raising funds
Cost of
raising
funds
Cost of
trading &
investment
management
£
£
4,580
808
487
25
-
60
-
-
-
54,164
-
6,479
-
12,514
-
-
1,300
1,904
1,872
-
410
22,106

-
(2,943)
-
188

-
1,019
8,649
96,324
8,397
18,233
5,645
5,645
22,691
120,202		 Charitable activities Charitable activities Charitable activities Charitable activities Keep
Active
H&F
Property
Redevelopment
Governance
costs
£
£
£
28,479
5,955
-
142
-
-
167
-
-
-
-
-
-
-
-
501
-
110
-
-
10,442
-
-
-
-
-
200
1,737
-
100
-
4,053
-
-
-
-
53
-
-
-
-
-
31,079
10,008
10,852
7,872
-
32,206
2,571
-
(43,058)
41,522
10,008
-		 Support
costs
£
132,976
62
-
-
18,931
23,787
2,008
-
6,947
889
-
-
546
-
186,146
(186,146)
-
-
 ~~2022~~ ~~2022~~ ~~2~~023
Community
Centre
£
25,803
-
42
-
2,896
-
-
-
-
-
-
-
88
-
28,829
26,456
2,630
57,915		 Learning
Disability
Outreach Homeline
£
£
62,511
86,549
50
620
5
273
9,455
3,488
-
-
942
1,128
-
-
-
-
-
-
107
3,165
240
-
-
-
-
48
-
-
73,310
95,271
31,318
29,050
6,835
8,530
111,463 132,851
Care and
Repair

£

77,930

331

-

-

-

2,360

(600)

-

963

79

462

-

696

-
82,221

14,230

6,426
102,877		 Safer
Homes
£
41,911
4,954
-
2,471
-
943
15
6,931
-
273
3,500
-
71
-
61,069
18,384
4,776
84,229

95,271
29,050
8,530		 683,758
-
-
132,851 683,758
27

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

7 Net income / (expenditure) for the year

This is stated after charging /crediting

This is stated after charging /crediting
2024 2023
£ £
Depreciation 36,669 30,770
Lease payments on equipment 5,687 8,139
Interest receivable 10,013 2,947
Auditors’ remuneration (excluding VAT) - Audit 8,400 8,150

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

Staff costs were as follows:

Staff costs were as follows:
2024 2023
£ £
Salaries and wages 430,671 400,624
Social security costs 41,180 38,944
Employer’s contribution to defined contribution pension schemes 19,582 18,670
Temporary staff and consultants remuneration 13,805 9,264
505,238 467,502

No employee earned more than £60,000 during the year (2023: £nil).

The total employee benefits, comprising gross salaries, pension contributions and employer's national insurance contributions of the key management personnel were £215,072 (2023: £175,579) which is incurred by 4 (2023: 5) staff.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2023: £nil). No charity trustee received payment for professional or other services supplied to the charity (2023: £nil).

Trustees' expenses represents the payment or reimbursement of travel and subsistence costs totalling £nil (2023: £Nil) incurred by nil (2023: 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 :

:
2024 2023
No. No.
Director and core staff 2.8 2.8
Community Centre 0.5 0.5
Care & Repair project 1.7 1.5
Homeline 2.0 2.0
Keep Active H&F 1.0 0.8
Learning Disability Outreach 1.5 1.6
Safer Homes 1.0 1.0
10.5 10.2

The average number of staff on a head count basis in the year was 17 (2023: 17).

28

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2024

10 Related party transactions

Aggregate donations from the trustees were £1,255 (2023: £nil).

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 £51 (2023: £nil). 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
At the end of the year
Depreciation
At the start of the year
Charge 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
402,160
20,108
422,268
955,232
975,340		 Building &
Freehold
improvements
Fixtures and
fittings
Motor
vehicles
£
£
£
566,511
55,076
14,000
-
-
-
566,511
55,076
14,000
84,225
13,117
4,958
9,727
1,998
3,500
93,952
15,115
8,458
472,559
39,961
5,542
482,286
41,959
9,042		 Computer
Equipment
Total
£
£
26,032
2,039,119
743
743
26,775
2,039,862
22,802
527,262
1,336
36,669
24,138
563,931
2,637
1,475,931
3,230
1,511,857

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.

29

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

13 Investment properties

Fair value at the start of the year
Increase/(Decrease) in Fair value
Fair value at the end of the year		 2024
£
1,340,000
100,000
1,440,000		 2023
£
1,400,000
(60,000)
1,340,000

The properties were valued on 20 June 2024 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) 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
Trade debtors
Prepayments and accrued income
Other debtors		 2024
£
131,681
7,806
(132,266)
(7,221)
-
-
-
-
2024
£
-
-
-
2024
£
60
37,490
20,728
433
58,711		 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

15 Debtors

30

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2024

16 Creditors : amounts falling due within one year

Trade creditors
Taxation and social security
Accruals
Deferred income (note 17)
Other creditors
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		 2024
£
6,349
22,335
42,639
94,542
10,914
176,779
2024
£
70,036
(68,903)
93,409
94,542		 2023
£
7,574
18,551
101,818
70,036
28,232
226,211
2023
£
60,373
(58,426)
68,089
70,036

17 Deferred income

The deferred grants related to the amounts received in advance for which they cover the projects activities in the year 2024/25.

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
£
£
40,434
955,232
-
1,440,000
-
-
(15,284)
453,000
25,150
2,848,232		 Restricted
Funds
£
480,265
-
-
39,312
519,577		 Total Funds
£
1,475,931
1,440,000
-
477,028
3,392,959

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
£
£
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

31

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

19a Movements in funds (current year)

At 1 April 2023
£
Restricted Funds :
Care & Repair
11,742
Care & Repair Client Support
2,721
Community Centre
22,950
Homeline
-
Keep Active H&F
7,630
Learning Disability Outreach
-
Property Redevelopment
489,992
Safer Homes
-
Safer Homes Client Support
4,550
Total Restricted Funds
539,585
Unrestricted Funds :
Designated Funds :
Cyclical Maintenance Fund
63,000
Equipment Replacement Fund
29,900
C&R Remedial Works Fund
10,000
Development & Opportunities Fund
20,000
Contingency Fund
100,000
Property Redevelopment Fund
100,000
Designated Funds per Reserves Policy
322,900
Property Revaluation Reserve
975,340
Fair Value Reserves
1,340,000
General Funds
118,053
Total Unrestricted Funds
2,756,293
Total Funds
3,295,878		 At 1 April 2023
£
Restricted Funds :
Care & Repair
11,742
Care & Repair Client Support
2,721
Community Centre
22,950
Homeline
-
Keep Active H&F
7,630
Learning Disability Outreach
-
Property Redevelopment
489,992
Safer Homes
-
Safer Homes Client Support
4,550
Total Restricted Funds
539,585
Unrestricted Funds :
Designated Funds :
Cyclical Maintenance Fund
63,000
Equipment Replacement Fund
29,900
C&R Remedial Works Fund
10,000
Development & Opportunities Fund
20,000
Contingency Fund
100,000
Property Redevelopment Fund
100,000
Designated Funds per Reserves Policy
322,900
Property Revaluation Reserve
975,340
Fair Value Reserves
1,340,000
General Funds
118,053
Total Unrestricted Funds
2,756,293
Total Funds
3,295,878		 Income &
gains
£
41,720
96
19,993
131,109
50,124
99,965
-
71,193
-










Expenditure
& losses
£
(41,720)
(60)
(24,563)
(132,748)
(57,589)
(105,553)
(9,727)
(69,227)
(248)
(441,435)
-
(9,900)
-
-
-
-
(9,900)
(20,108)
-
(297,818)
(327,826)
(769,261)		 Transfers
£
-
-
-
1,639
-
5,588
-
-
-
7,227		 At 31 March
2024
£
11,742
2,757
18,380
-
165
-
480,265
1,966
4,302		 At 31 March
2024
£
11,742
2,757
18,380
-
165
-
480,265
1,966
4,302
414,200 519,577
63,000
29,900
10,000
20,000
100,000
100,000
322,900		 8,000
-
-
-
-
132,000




-
-
-
-
-
-
-
-
-
(7,227)
(7,227)
-		 71,000
20,000
10,000
20,000
100,000
232,000
140,000 453,000
975,340
1,340,000
118,053		 -
100,000
212,142


955,232
1,440,000
25,150
2,756,293 452,142 2,873,382
3,295,878 866,342 3,392,959

32

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2024

19b Movements in funds (prior year)

At 1 April 2022
£
Restricted Funds :
Care & Repair
11,742
Care & Repair Client Support
2,728
Community Centre
18,792
Homeline
-
Keep Active H&F
-
Learning Disability Outreach
-
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		 At 1 April 2022
£
Restricted Funds :
Care & Repair
11,742
Care & Repair Client Support
2,728
Community Centre
18,792
Homeline
-
Keep Active H&F
-
Learning Disability Outreach
-
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
49,152
104,232
250,000
60,741
-










Expenditure
& losses
£
(41,720)
(72)
(15,624)
(132,851)
(41,522)
(111,463)
(10,008)
(80,756)
(74)
(434,090)
-
(6,200)
-
-
-
-
(6,200)
(20,108)
(60,000)
(244,574)
(330,882)
(764,972)		 Transfers
£
-
-
-
21,568
-
7,231
-
-
-
48,814		 At 31 March
2023
£
11,742
2,721
22,950
-
7,630
-
489,992
-
4,550		 At 31 March
2023
£
11,742
2,721
22,950
-
7,630
-
489,992
-
4,550
287,886 636,975





539,585
53,600
36,100
10,000
15,000
70,000
100,000		 9,400
-
-
5,000
30,000
-		 -
-
-
-
-
-		 63,000
29,900
10,000
20,000
100,000
100,000
284,700 44,400



- 322,900
995,448
1,400,000
129,852		 -
-
281,589		 -
-
(48,814)		 975,340
1,340,000
118,053
2,810,000 325,989 (48,814) 2,756,293
3,097,886 962,964 - 3,295,878

33

Bishop Creighton House Settlement

Notes to the financial statements

For the year ended 31 March 2024

Purposes of restricted funds

Care and Repair Client Support Fund

The Care & Repair Client Support Fund income includes £95.85 interest earned and expenditure of £60.00 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 £247.68 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 and Homeline 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.

34

Bishop Creighton House Settlement

Notes to the financial statement

For the year ended 31 March 2024

19 Movements in funds (continued)

The property redevelopment fund is intended to cover all costs incurred to the redevelopment of existing building and redevelopment of frontage in ground floor.

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, £9,166 (2023: £65,829) 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

Equipment
2024 2023
£ £
Less than one year 8,204 8,204
One to five years 5,469 14,935
13,673 23,139

35