## **Manor Gardens Welfare Trust**
(A Company Limited by Guarantee and Registered Charity No. 1063053)
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**Year ended 31[st ] March 2024**
## _**Making the difference for over 100 Years**_
Company No. 3386929
Manor Gardens Welfare Trust CONTENTS
Year ended 31[st] March 2024
||Page|
|---|---|
|Reference and administrative details|1|
|Trustees’ report|2 - 9|
|Statement of Trustees’ responsibilities|10|
|Independent Auditor’s report|11 - 13|
|Statement of Financial Activities|14|
|Statement of Financial Position|15|
|Cashflow Statement|16|
|Accounting policies|17 - 18|
|Notes to the accounts|19 - 26|
Manor Gardens Welfare Trust REFERENCE AND ADMINISTRATIVE DETAILS
Year ended 31[st] March 2024
## **Legal and Administrative Details as at 31[st] March 2024**
**Status:** Manor Gardens Welfare Trust (“the Company” or “the Charity”) is a charitable company limited by guarantee. The current charity was incorporated on 13[th] June 1997, and registered with the Charity Commission.
**Background:** The activities of the Charity were originally carried out by an unincorporated association, Manor Gardens Community Trust (MGCT), registered under the Charities Act 1960 on 16[th] October 1985. The North Islington Infant Welfare Centre (NIIWC) ran the Manor Gardens Centre prior to MGCT being set up. In 1997 the NIIWC and MGCT merged and the new charitable company Manor Gardens Welfare Trust (MGWT) was formed. NIIWC and MGCT have been removed from the Charity Commission register.
## **Trustees and Directors:**
Crystal Rolfe, Chair Pardeep Bhatti ACA, Treasurer Nicholas Tait Ruth Morrison (retired September 2023) Jeffrey O’Brien Iris Tuechter Jasmine Kaler (commenced May 2023) Veronica Senior (commenced May 2023) Giulia Crepaldi (commenced May 2023) Edward Azzopardi (commenced May 2023)
## **Senior Management Team:**
Hekate Papadaki, Chief Executive Officer William Meghoma, FFA, FIPA, FCCA, Director of Finance and Administration Felicity Ford, Director of Fundraising and Development (resigned May 2023) Laura Thomas-Hockey, Head of Partnerships and Development, (appointed July 2023)
**Registered Office and Operational Address: Company Number: Charity Number:**
6-9 Manor Gardens, London N7 6LA
3386929 1063053
**Senior Statutory Auditor:** Anthony Daniel Armstrong FCA of Armstrong & Co Chartered Accountants & Statutory Auditors 4A Printing House Yard London E2 7PR
**Solicitors** :
Russell-Cooke 2 Putney Hill London SW15 6AB
## **Bankers:**
HSBC plc 312 Seven Sisters Road Finsbury Park London N4 2AW
Barclays Bank plc 403 Holloway Road London N7 6HL
COIF Charities Deposit Fund Senator House 85 Queen Victoria Street London EC4V 4ET
1
Manor Gardens Welfare Trust TRUSTEES’ REPORT
Year ended 31[st] March 2024
## **ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024**
## **Objectives and Activities**
## **Objectives:**
The Charity is established for the following purposes, having regard to equality and diversity amongst and for the benefit of service beneficiaries:
- To relieve the needs arising from financial hardship, sickness, disability and old age.
- To advance education.
- To promote mental and physical good health.
- To provide assistance to children and young people who are in need of care and attention arising from their youth.
- To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society.
The term ‘service beneficiaries’ refers to all those in receipt of services and support from MGWT, who are predominantly resident in London, and include individuals, families and community groups.
**Governing Document:** Manor Gardens Welfare Trust was established under a Memorandum of Association, which established the objects and powers of the organisation. It is governed under its Articles of Association. The charitable objects were reviewed by the Board of Trustees during 2011 and the revised objects were approved by the Charity Commission in September 2011.
## **Our Vision**
The vision of the organisation is to build strong communities where all people have good health, resilience, and opportunity.
## **Our Purpose**
_**Early intervention and prevention**_ **:** we prevent the escalation and deepening complexity of difficulties experienced by people which impact upon their life opportunities, health, and wellbeing. _**Community-driven approaches:**_ we understand and work alongside people to develop our work and expertise in person- centred interventions for diverse communities from childhood to adulthood.
_**Learning and development for impactful response**_ **:** we inform and develop our work and influence and effect wider system change and practice.
We continue to work with people of all ages and all communities, with a particular focus on those that experience identified barriers and difficulties in accessing support and services including language barriers and socioeconomic disadvantage.
For this purpose, we maintain community hubs in Islington, and develop service offers to reach into a wider geographical area, based upon knowledge of need and solutions **.**
## **Overview:**
Manor Gardens Welfare Trust (MGWT) continues to support local communities with diverse and emerging needs, an approach we have been taking since we were founded in 1913. During 2023/24 we provided direct support to over 2,000 community members across all services as well wider support to thousands more residents in the borough through our hot meals programme, targeted work to increase the uptake of Healthy Start vouchers in Islington, and training of professionals in safeguarding children from FGM.
From our bases in the London Borough of Islington we identify need, appropriate responses and deliver services to support and have impact for individuals and local communities across London, and at times, into regional areas. In partnership with individuals, communities and other voluntary and statutory agencies and services we collaborate to identify potential and existing gaps in provision and where there may be unmet and additional need. We see
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Manor Gardens Welfare Trust TRUSTEES’ REPORT
Year ended 31[st] March 2024
strength in the diversity of our service offer, recognising that the communities we support reflect this diversity, and for many MGWT is a first point of access when seeking help.
In the past year, MGWT has adeptly responded to the various challenges facing our communities. Our commitment ranges from our youth service for children and young people aged 11 – 18 who are at risk of violence, to assisting elderly, vulnerable and isolated residents. We prioritize the welfare of those most in need, such as refugees, newly arrived communities, children, young people, families, and adults—particularly those facing socioeconomic disadvantage and health concerns. During the recent cost of living crisis, MGWT continued to offer warm spaces for those affected by rising utility costs and expanded its hot meals service by working in partnership with five food hubs in the borough, which allowed us to offer more than 5,500 hot meals. At the same time, we were able to provide emergency items including electric blankets and air fryers to residents struggling with rising energy prices. Over Christmas, we distributed more than 100 presents to children who would otherwise not receive gifts. This work was made possible with the support of the National Lottery, Islington Council and the East London Business Alliance.
Our work with partners, commissioners and funders across London Boroughs continues to consider how we can connect people to the support and services needed at the right time and in the right way, reducing barriers and duplication, and harnessing the strengths and innovation that grows from our local communities and partnerships. During the year, we delivered the following services:
## **Mental Wellbeing**
Islington has some of the highest rates of mental ill health in the UK, and Manor Gardens stepped up to meet these challenges. Over **856 adults** received one-to-one multilingual advocacy support, and **204 individuals** participated in community wellbeing activities to reduce isolation and improve their mental health. These activities included **yoga sessions** , **art therapy** , **conversation cafés** , and **ESOL classes** , all tailored to meet the diverse needs of our clients. Over **204 individuals** took part in these activities, with many attending regularly. Our **community celebration events** —such as **Eid** , **Christmas** , and **World Mental Health Day** —provided further opportunities for social interaction and cultural exchange. These activities played a crucial role in improving clients' resilience, positivity, and overall wellbeing.
Our counselling service provided therapeutic support to **104 survivors of trauma** and we expanded our work with **132 children** and their families, offering tailored therapeutic support for those experiencing complex trauma. Our **Dahlia Project** continued its essential work, offering specialist therapeutic services to 67 survivors of FGM. In addition to providing in-house therapeutic interventions, we maintained our partnership with the **London NorthWest University Healthcare NHS Trust** to offer support through the **Hibiscus FGM clinic** .
Out of the clients accessing therapy:
- **100%** reported improvements in managing trauma symptoms.
- **75%** improved relationships with family and friends after therapy.
## **Advocacy and Support**
Manor Gardens' advocacy team supported **794 clients** with complex needs, delivering culturally competent services in **10 languages** . From helping clients navigate debt and welfare entitlements to providing emergency items like food vouchers and electric blankets, our services were a lifeline to those in need. **76%** of our clients were from non-White British backgrounds. We provided specialist services for clients dealing with domestic violence, mental health challenges, and housing insecurity.
Two staff members were trained as **Independent Domestic Violence Advocates (IDVAs)** to offer more robust support to survivors of abuse.
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In partnership with the Cloudesley Trust, we distributed **£10,531** in crisis grants, supporting clients with urgent needs such as housing repairs, education, and welfare.
## **Youth Services**
Our youth services grew significantly this year, engaging over **120 young people aged 11-18** from marginalized communities. Many of these young people were at risk of gang violence and exploitation, and our targeted interventions helped them build resilience and learn about healthy relationships.
Key outcomes included:
- **95%** of participants increased their understanding of consent.
- **92%** improved their awareness of grooming risks and where to seek help.
- **87%** of participants reported greater self-confidence.
## **Policy, Campaigning and Partnerships**
We directly support women who have experienced Female Genital Mutilation (FGM), and campaign widely to prevent this harmful practice. Our Dahlia Project continues to offer therapeutic groups and a safe space for women who are survivors of FGM, alongside one-to-one advocacy, empowerment and peer support groups. This year, Manor Gardens has been at the forefront of efforts to provide access to **FGM reconstruction** and related therapeutic support in the UK. Through our **Dahlia Project** , we worked closely with **Imperial College** and health professionals to conduct consultations with survivors, to support the development of the first UK clinical trial for FGM reconstruction. Our involvement ensures that the needs and experiences of survivors are central to this important work.
Manor Gardens continues to chair the Islington Food Partnership, a coalition of community and statutory partners interested in reducing food poverty and food waste. It has led the growth of food co-ops in the borough as well as setting the strategic direction of food stability and sustainability for Islington. Our network grew by more than 20% to **228 members** . We also continued to provide dignified food aid through our food co-op.
## **Here are some of our achievements during the year:**
- We collected data on food aid, analysing trends and mapping provision to enable efficient planning and easier access to support for people experiencing food insecurity.
- Our **Healthy Start Workshops** increased uptake of the scheme across the borough by 6%, making it **70%** compared to the **64% national average** .
- We raised and distributed funds to **5 IFP partners** to deliver healthy hot meals during the winter months, leading to **5,500 hot meals** distributed to people in poverty.
- We spoke with over **80 local businesses** about their food waste and sustainable practices.
- **83%** of our members felt that membership in the IFP increased opportunities for collaboration and helped them identify funding.
Working with Islington Council, Age UK and Help on Your Doorstep we continued to deliver the Central Point of Access system to enable people working in Adult Social Care to make referrals directly to our organisation for triage and onward referral, simplifying referrals and ensuring people received appropriate help in a timely fashion. External evaluation of the CPOA by **BASIS consultancy** found that **90% of clients would recommend the service** and **70% did not need to return to adult social care** or the hospital as a result of accessing our support.
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We are represented on a wide range of forums and for some areas of our work this extends more broadly into neighbouring Boroughs and across London. These include:
- ➢ Islington Health and Wellbeing Board, Islington Fairer Together Partnership Board (including strategic and delivery groups), Islington All-Age Mental Health Partnership Board, Islington Early Years Partnership Board, Bright Start Early Childhood Area Partnership (ECAP), Bright Start Private, Voluntary and Independent (PVI) Forum, London FGM Forum, Newham FGM Forum, Maternity Voices (North London), Camden – Best Start in Life, Camden Perinatal Mental Health Forum, Time to Change Islington, and the Islington Food Partnership.
As a charity, we are members of the Association of Chief Executives of Voluntary Organisations (ACEVO), the National Council of Voluntary Organisations (NCVO), Voluntary Action Islington (VAI), Charity Finance Group, and Institute of Fundraising and maintain access to information, newsletters and advice within the sector.
In addition to our attendance and participation, we also directly host and chair forums which develop opportunities for strategic and operational dialogue and the sharing of knowledge, expertise and practice. Examples are Health Exchange, developed with Islington Council and Islington CCG, the North Locality Leadership Team, to develop integrated health and social care provision in North Islington and the Islington Food Partnership. These assist in bringing organisations and people together to improve the delivery and commissioning of services, and to make connections and work in partnership.
## **Co-location**
Manor Gardens Welfare Trust operates from buildings at numbers 6-9 Manor Gardens, London N7 6LA, of which it owns the freehold. As an organisation we recognise the importance of community places to assist community members when seeking services and help. Our buildings enable us to further generate a partnership approach through our position as landlord to currently fourteen organisations, which includes other charities, organisations and services responding to local communities.
Our buildings enable the development and delivery of a hub of community-focused services. Our community friendly reception space, developed during the pandemic, is now being used for joint activities and enables us to further our partnerships with external partners as well as providing a community hub in the North of Islington.
The Charity also leases the ground floor and basement of 10 Manor Gardens, part of the Beaux Arts Building. The lease expires in 2027. The space within these buildings is used by MGWT to deliver its services and assists in hosting other health and wellbeing organisations, including sessional meeting space for similar groups.
Our services particularly support the diverse communities of Islington but also replicate our services and support into the neighbouring North London boroughs, Newham, and more widely across London.
## **Staff and volunteers**
Our dedicated team of **36 staff members** and **20 volunteers** continued to be the backbone of Manor Gardens throughout 2023-24. Despite the challenges posed by rising demands and the ongoing cost-of-living crisis, our staff demonstrated unwavering commitment to delivering high-quality services to the communities we serve. Many of our volunteers have lived experience of the issues we address, such as mental health, domestic abuse, and food insecurity, bringing invaluable insights to their roles. Together, they contributed to a wide range of activities, from **yoga and ESOL classes** to **administrative support** and **community outreach** , ensuring that we could reach and support as many people as possible. Their passion and dedication have had a lasting impact, transforming lives across Islington and beyond.
## **Organisational Structure**
The Chief Executive Officer (CEO) reports directly to the Board of Trustees. The Senior Management Team comprises of the CEO, the Director of Finance and Administration, and the Head of Partnerships and Development.
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## **Structure, Governance and Management:**
Manor Gardens Welfare Trust governs through its Memorandum and Articles of Association. The Articles of Association were updated in 2011 and approved by the Charity Commission in August 2011.
The Charity’s governing body is the Board of Trustees, whose members are trustees under charity law and directors of the Company for the purposes of Company Law. New trustees/directors are elected at a General Meeting of the Board for a period of three years. They can serve for two terms i.e. six years, with provision for a further term if elected Chairperson. Four new trustees joined our board during 2023/24 increasing our board to nine members.
As directors of the Company, the Trustees each guarantee to contribute an amount not exceeding £1 to the assets of the Company in the event of a winding up. Trustees have no beneficial interest in the Company. There are no known conflicts of interest and these are requested and recorded through an annual declaration, and updates requested at each Board meeting. Any declared conflicts of interest would be recorded; these would then be monitored and managed as necessary.
The Board is confident that the Charity conforms to and is compliant with the Charity Commission’s guidance, ‘The essential trustee: what you need to know, what you need to do’ (July 2015), and works under the Charity Governance Code (2018) supported through our membership of National Council for Voluntary Organisations and ACEVO.
## **Trustee Recruitment and Training**
Trustees are recruited by various means, and in consideration of the latest Board appraisal, reflecting the skills of the Board and the requirements of the Organisation, and uses open and transparent recruitment practices. Advertising positions via our website extends to the recruitment of trustees, as well as utilising the initiatives and support of partners. This has included the BoardMatch66 process, initiated by the Big Alliance, to broker links between corporate partners and staff of these companies with an interest in local charities and trustee positions.
All prospective trustees meet with the Chair and the CEO to discuss their application, and if all is satisfactory following meeting and recruitment checks, their appointment is put to the Board. Any appointment is ratified at the subsequent Annual General Meeting. All appropriate checks are completed to assure that prospective and current trustees are not barred from taking up positions, including guidance on automatic disqualification rules issued in 2018. Declaration is signed confirming their suitability to serve.
Each new Trustee is inducted into their role and the Organisation, through provision of information and time with our staff and services, and one-to-one session with the CEO, Chair and fellow trustees, and SMT members. The Charity Commission’s guidance, ‘The essential trustee’ is the basis of our briefing into the role and is provided to all. A comprehensive induction pack which contains information about the history of the Manor Gardens Welfare Trust, details of Tenant Groups based at our premises, copies of the Memorandum and Articles of Association, a copy of all Centre policies on disc, a copy of the most recent Annual Accounts and Annual Review is provided.
The Board regularly conducts review of trustees’ skills and an appraisal of Board effectiveness, led by the Chair. Where this review identifies skills shortages, this is addressed by training and/or the recruitment of new trustees. On an annual basis the Chair reviews the performance of the trustees against the list of their main responsibilities.
The Board seeks to represent the diversity of our wider society through its membership, and this is a further consideration in our annual review and recruitment. The Organisation’s policy statement on Equality, Diversity and Inclusion extends to and is reflected in the principles and performance of the Board.
- ➢ 44% of trustees are from Black, Asian and other Minority Ethnic groups (BAME), 56% are white British or from white–other Ethnic groups.
- ➢ 56% of trustees are female, and 44% are male.
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## **Board Processes and Decision making**
In 2023/24, the full Board met six times during the year to set strategic direction and to review the performance, compliance, and finances of the Charity. Additionally, board subgroups met 4 times to support work around our finance and facilities, fundraising and services and HR. These meetings were agreed to be held remotely and online, and this continued throughout the year. The CEO, the Director of Finance and Administration and the Director of Fundraising and Development were in attendance at all meetings, as well as the Senior Management Team (SMT).
## **Risk Management**
Potential areas of risk to the Charity are identified, recorded and reviewed by the Board at every Meeting, assisted by the Senior Management Team. The Risk Register incorporates financial, operational risk and external risk, assessing likelihood of occurring, impact, and mitigation to reduce likelihood and the impact. Whilst recognising that no organisation can ever be risk free, the Board of Trustees consider that the range of measures and controls in place have reduced to an acceptable level the various risks faced by Manor Gardens Welfare Trust.
## **Future Plans:**
Initiatives and integrated working continues, to continue to address inequalities impacting the health and wellbeing of individuals and within our communities.
We will continue to outreach into communities whilst also offering a safe and accessible co-location space working with similar organisations and charities, and as an asset to the local community. We recognise the importance of place and how people can come together, support one another, and have the best opportunities in life, addressing challenges in society today. To this end, we have embarked on a partnership with Islington Council for the development of the North Access Islington Hub, a one-stop-shop for early intervention and prevention services for Islington residents.
We will continue to invest in people and communities to enable delivery of our Strategy, providing access, impact, and a place where people can feel welcomed, supported and valued.
More information about our current services and developments for the Charity can be found on our website at www.manorgardenscentre.org
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Year ended 31[st] March 2024
## **FINANCIAL REVIEW AND RESULTS FOR THE YEAR ENDED 31ST MARCH 2024**
The Statement of Financial Activities (SoFA) including an Income and Expenditure account set out on page 14, shows total income of £1,288,437 (2023: £1,964,372) and total expenditure £1,435,405 (2023: £2,218,107). This resulted in net deficit of £146,968 (2023: deficit £253,735). The large deficit was due to loss of revenue at our two early year settings. This was because of low number of children at our nurseries after the pandemic.
## **RESERVES POLICY**
The Board has a long-term policy of increasing both the Revenue and Building Refurbishment Reserves (see note 11 to the accounts) to ensure that fluctuations in future income do not threaten the financial stability of the organisation. The uncertainties include grants from statutory bodies and rental income.
**Revenue Reserve:** The Revenue Reserve is needed to provide funds which can be made available for specific projects, and to assist with unforeseen economic events.
The Trustees believe that the level of this reserve should be gradually increased to the equivalent of three months’ total expenditure calculated and reviewed annually. The reserve is being built up to the desired level in stages consistent with the Charity’s overall financial position and its need to maintain its activities. The current level of this reserve is £168,613 compared with three months’ total expenditure of £358,851 based on the audited accounts.
**Building Refurbishment Reserve** : The Board’s policy is to build up the Building Refurbishment Reserve, to £260,000, which equals 4% of the estimated value of the freehold premises (£6.5million). The purpose of this reserve is for the refurbishment of, and cyclical maintenance work on the Charity’s premises. The Trustees expect to achieve this level of funding by a combination of specific donations, grants and transfers from general reserves. At the year end this reserve stands at £246,924.
_General funds_ (see note 11 to the accounts) are donations and other incoming resources receivable or generated in furtherance of the Charity’s objectives without further specified purpose and are available as general funds. The current level of Undesignated funds is £179,642.
_Restricted Capital funds_ (see note 12 to the accounts) comprise a building asset fund, a fixed asset fund and other grants fund. The building asset fund represents the original cost of, and initial improvements made to the Charity’s original freehold premises; whereas the fixed asset fund represents the cost of assets funded by grants. The current level of the combined Capital funds is £544,028.
The policies for and levels of these reserves will continue to be monitored by Trustees on an annual basis. Further analysis of the reserves of the Charity can be found in notes 11 and 12 to the financial statements.
## **INDEPENDENT AUDITORS**
The statutory auditor, Anthony Daniel Armstrong FCA of Armstrong & Co, has indicated his willingness to be proposed for re-appointment in accordance with Section 485 of the Companies Act 2006.
## **STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS**
The trustees who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the charitable company’s auditor is unaware, and 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 auditor is aware of that information.
This report has been prepared in accordance with the Charities SORP FRS 102 (effective 1 January 2015) and with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
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Manor Gardens Welfare Trust TRUSTEES’ REPORT
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The trustees have determined that the charitable company be audited under the Companies Act 2006 for the year ended 31[st] March 2024 and for future years. The charitable company would is also required to be audited under charities legislation for the year ended 31[st] March 2024.
The trustees acknowledge and confirm their responsibilities for preparing the financial statements as detailed in the Statement of Trustees’ Responsibilities set out on page 10.
Approved and authorised for issue by the Trustees on 11[th ] October 2024 and signed on their behalf by:
Crystal Rolfe, Trustee
Pardeep Bhatti ACA, Trustee
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Manor Gardens Welfare Trust STATEMENT OF TRUSTEES’ RESPONSIBILITIES For the year ended 31[st] March 2024
The trustees (who are the directors of the charity for the purpose 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;
- follow applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the accounts; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping proper 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.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MANOR GARDENS WELFARE TRUST For the year ended 31[st] March 2024
## Manor Gardens Welfare Trust
We have audited the financial statements of Manor Gardens Welfare Trust for the year ended 31[st] March 2024 which comprise the Statement of Financial Activities, Statement of Financial Position, and the Notes to the Accounts to the Financial Statements, 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 Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
## **Opinion on financial statements**
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company’s affairs as at 31[st] March 2024 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 applicable to Smaller Entities; and
- have been properly 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 auditors' 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 the provisions available for small entities, 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 charity's ability to continue as a going concern for a period of at least twelve 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 in the annual report but does not include the financial statements and our report of the auditors thereon. The trustees are responsible for the other information.
Our opinion 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 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.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MANOR GARDENS WELFARE TRUST For the year ended 31[st] March 2024
## Manor Gardens Welfare Trust
## **Opinion on other matter 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' 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' 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' report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate 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.
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities set out on page 10 the charity's 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 necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
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.
## **Our 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:
- We identified the legal and regulatory frameworks that are applicable to the entity and determined that the most significant are those that relate to the specific business environment in which they operate, the reporting requirements they are obliged to adhere to and other legal and regulatory requirements applicable to operating entities in general.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF MANOR GARDENS WELFARE TRUST For the year ended 31[st] March 2024
## Manor Gardens Welfare Trust
These include the Companies Act 2006, the Charities Act 2011, FRS 102, the Charities SORP and GDPR legislation. The charitable company operates locally and is not significantly impacted by international law or regulations.
Taxation law and regulations applicable to charities also apply to the charitable company but it is not involved in any complex matters that increase the risk of non-compliance.
Each area of audit review includes in the audit documentation reference to potential non-compliance and awareness of potential non-compliance is embedded in our audit procedures.
- We assessed the risks of material misstatement in respect of fraud by enquiry of management, review of the charity's operations and direct review of significant and material transactions, including all non-standard or irregular journal adjustments. Our understanding of the organisation enables us to understand and identify transactions or areas that appear to present a risk of fraud. None were detected.
Our pre-audit questionnaire specifically makes enquires about fraud and this is supported by audit documentation. We also review Board minutes to identify any matters of concern or risk. None were identified.
- The audit was conducted by a very experienced auditor who has a good knowledge of the client and no other assistance or support was required.
- The charity is small, its activities are regular and consistent and are not complex and no special audit considerations apply, nor is external specialist assistance required.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at _**www.frc.org.uk/auditorsresponsibilities**_ . This description forms part of our auditor's report.
## **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 auditors' 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 and its members as a body, for our audit work, for this report, or for the opinions we have formed.
Anthony Daniel Armstrong FCA(Senior Statutory Auditor) **for and on behalf of Armstrong & Co** _Chartered Accountants & Statutory Auditors_
**4a Printing House Yard Hackney Road London E2 7PR 11[th ] October 2024**
13
## Manor Gardens Welfare Trust STATEMENT OF FINANCIAL ACTIVITIES Including an Income and Expenditure Account For the year ended 31[st] March 2024
|||UNRESTRICTED|UNRESTRICTED|RESTRICTED|||
|---|---|---|---|---|---|---|
|||General|Designated||**2024**|2023|
||Note|Funds|Funds||**Total**|Total|
|||£|£|£|**£**|£|
|**INCOME FROM:**|||||||
|Donations and legacies||4,159|-|-|**4,159**|2,353|
|Charitable activities|||||||
|Grants and service agreements|6/7|-|-|814,505|**814,505**|1,551,906|
|Rent and service charges||395,014|-|-|**395,014**|374,671|
|Room hire||29,985|-|-|**29,985**|22,090|
|Income from services supplied||3,939|-|-|**3,939**|5,548|
|Fundraising||4,992|-|**-**|**4,992**|**-**|
|Other||17,377|-|-|**17,377**|2,531|
|Investment income||18,466|-|-|**18,466**|5,273|
|||----------------|----------------|----------------|----------------|------------------|
|**TOTAL INCOME**||473,932|-|814,505|**1,288,437**|1,964,372|
|||----------------|----------------|----------------|----------------|------------------|
|**EXPENDITURE ON:**|||||||
|Raising funds||-|-|-|-|180|
|Charitable activities|||||||
|Service agreements|1|-|-|1,056,540|**1,056,540**|1,785,073|
|Health and welfare services|1|378,865|-|-|**378,865**|432,854|
|||----------------|----------------|----------------|----------------|------------------|
|**TOTAL EXPENDITURE**||378,865|-|1,056,540|**1,435,405**|2,218,107|
|||----------------|----------------|----------------|----------------|------------------|
|**NET INCOME / (EXPENDITURE)**||95,067|-|(242,035)|**(146,968)**|(253,735)|
|TRANSFERS BETWEEN FUNDS 11/12||(95,067)|(59,678)|154,745|**-**|-|
|||----------------|----------------|----------------|----------------|------------------|
|**NET MOVEMENT IN FUNDS**||**-**|(59,678)|**(**87,290)|**(146,968)**|(253,735)|
|**RECONCILIATION OF FUNDS:**|||||||
|TOTAL FUNDS AT 1 APRIL 2023||179,642|475,215|1,185,760|**1,840,617**|2,094,352|
|||----------------|----------------|----------------|----------------|------------------|
|**TOTAL FUNDS AT 31 MARCH 2024**|11/12|179,642|415,537|1,098,470|**1,693,649**|1,840,617|
|||========|========|========|========|=========|
See Note 16 for a detailed analysis of 2023 prior year amounts. All activities are classed as continuing. There were no other recognised gains or losses other than those stated above. The notes on pages 19 to 26 form an integral part of these audited financial statements.
14
## Manor Gardens Welfare Trust STATEMENT OF FINANCIAL ACTIVITIES Including an Income and Expenditure Account For the year ended 31[st] March 2024
||Note|**2024**|2023|
|---|---|---|---|
|||**£**|£|
|FIXED ASSETS||||
|Tangible fixed assets|8|**963,460**|970,787|
|||----------------|----------------|
|CURRENT ASSETS||||
|Debtors|9|**122,614**|185,074|
|Short term deposits||**227,638**|227,638|
|Cash at bank||**585,295**|664,277|
|Cash in hand||**2,459**|2,921|
|Pre Capital Exp||**2,814**|-|
|||----------------|----------------|
|||**940,820**|1,079,910|
|CREDITORS: amounts falling due within one year|10|**(210,631)**|(210,080)|
|||----------------|----------------|
|NET CURRENT ASSETS||**730,189**|869,830|
|||----------------|----------------|
|TOTAL ASSETS LESS CURRENT LIABILITIES||**1,693,649**|1,840,617|
|||-----------------|-----------------|
|**NET ASSETS**||**1,693,649**|1,840,617|
|||========|========|
|THE FUNDS OF THE CHARITY||||
|Unrestricted Funds|11|**595,179**|654,857|
|Restricted Funds|12|**1,098,470**|1,185,760|
|||-----------------|-----------------|
|**TOTAL CHARITY FUNDS**||**1,693,649**|1,840,617|
|||========|========|
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard 102.
Approved and authorised for issue by the Trustees on 11[th ] October 2024 and signed on their behalf by:
Crystal Rolfe, Trustee
Pardeep Bhatti ACA, Trustee
15
## Manor Gardens Welfare Trust CASHFLOW STATEMENT For the year ended 31[st] March 2024
|**CASHFLOW STATEMENT**|**CASHFLOW STATEMENT**|**Notes**|**Total**|**Prior Year**|
|---|---|---|---|---|
||||**Funds**|**Funds**|
||||**2024**|2023|
||||**£**|£|
|**Cash generated from operating activities:**|||||
||Net cash provided by/(used in) operating activities|**A**|**(76,630)**|66,014|
|**Cash flows from other sources:**|||||
||Proceeds from sale of fixed assets||**-**|-|
|**Application of cash:**|||||
||Purchase of fixed assets||**-**|(11,108)|
||Pre capital exp||**(2,814)**|-|
||||----------------|----------------|
|**Net increase/(decrease) in cash**||**B**|**(79,444)**|**54,906**|
|Cash at|bank at the beginning of the year|**B**|**894,836**|839,930|
||||----------------|----------------|
|Cash at|bank at the end of the year|**B**|**815,392**|894,836|
||||========|========|
|**A**|**RECONCILIATION OF NET INCOME/EXPENDITURE TO**||||
||**NET CASH FLOW FROM OPERATING ACTIVITIES**||**2024**|2022|
||||**£**|£|
||Net income/(expenditure) from SOFA (page 14)||**(146,968)**|(253,735)|
||Adjusted for:||||
||Depreciation||**7,330**|7,676|
||(Increase)/decrease in debtors||**62,460**|301,073|
||Increase/(decrease) in creditors||**548**|7,357|
||(Profit)/loss on disposal of fixed assets||**-**|3,644|
||||----------------|----------------|
||Net cash inflow/(outflow) from operations||(**76,630)**|66,014|
||||=======|=======|
|**B**|**ANALYSIS OF CASH AT BANK AND IN HAND**||||
|||Change|||
|||in year|**2024**|2023|
|||**£**|£|£|
||Cash at bank and in hand|**(79,444)**|**587,754**|667,198|
||Short term deposits|**-**|**227,638**|227,638|
|||----------------|----------------|----------------|
|||**(79,444)**|**815,392**|894,836|
|||========|=======|=======|
16
Manor Gardens Welfare Trust ACCOUNTING POLICIES For the year ended 31[st] March 2024
## BASIS OF ACCOUNTING
The financial statements have been prepared under the historical cost convention and in accordance with:
- a) Applicable UK accounting standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)';
- b) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP FRS 102);
- c) The Companies Act 2006; and
- d) The Charities Act 2011.
## PUBLIC BENEFIT ENTITY
The Charity meets the definition of a public benefit entity under FRS 102.
## GOING CONCERN
The charity’s income is derived from both non-self-generated sources, such as grants, service level agreements and other governmental or NGO sources and self-generated sources, such as rental income and hire income etc. The trustees consider that there are no material uncertainties about the likelihood that this support will continue, and accordingly, the accounts have been prepared on a going concern basis.
## INCOMING RESOURCES
Incoming resources are the amounts derived from the provision of charitable services, the receipt of gifts, rents and grants falling within the charity’s ordinary activities.
## INCOME RECOGNITION
All incoming resources are recognised once the Charity has entitlement to the resources, it is certain that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability. Income with conditions attached to its receipt is recognised when the conditions have been fulfilled.
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.
## RESOURCES EXPENDED
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Costs of raising funds are those costs incurred in attracting voluntary income.
Charitable activities include expenditure associated with the provision of accessible health and welfare services and include both the direct costs and support costs relating to these activities.
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## GOVERNANCE COSTS
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include the audit fee.
Governance costs include those incurred in the governance of the Charity and its assets and are primarily associated with constitutional and statutory requirements and are included in support costs.
17
Manor Gardens Welfare Trust ACCOUNTING POLICIES For the year ended 31[st] March 2024
## FIXED ASSETS AND DEPRECIATION
All fixed assets are initially recorded at cost. Freehold land is not depreciated. The Trustees are of the opinion that the freehold buildings have such a long useful economic life and such a high residual value that any depreciation charges arising are immaterial. Depreciation is being charged on other fixed assets retained by the Trust at rates estimated to write off their cost, less any residual value, over their expected useful lives. The expected useful lives are as follows:
Included within furniture and equipment:
|uded within furniture and equipment:||
|---|---|
|Furniture and equipment|10 years|
|Safety equipment|10 years|
|Computer equipment|3 years|
|Cafe equipment|5 years|
## STOCK
Stock is valued at the lower of cost and net realisable value.
## LEASING CONTRACTS
The management and service charges are credited to the Statement of Financial Activities as they fall due over the period of the lease.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight-line basis over the period of the lease.
## UNRESTRICTED FUNDS
Unrestricted funds are donations and other incoming resources receivable or generated in furtherance of the Charity’s objectives without further specified purpose and are available as general funds.
## DESIGNATED FUNDS
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
## RESTRICTED FUNDS
Restricted funds are to be used for specific purposes as laid down by commissioning authorities and donor’s expenditure which meets these criteria is charged to the fund.
## TAXATION
The Company is a registered charity and does not trade and as such its income and gains are exempt from corporation tax to the extent that they are applied to its charitable objectives.
## PENSIONS
The Charity operates defined contribution schemes which are administered by outside independent pensions providers. Contributions payable for the year are charged to the Statement of Financial Activities.
18
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
## **1. COST OF CHARITABLE ACTIVITIES**
||||Activities|undertaken directly||||
|---|---|---|---|---|---|---|---|
||||Staff|Other|Support|||
||||Costs|Direct|Costs|**2024**|2023|
|||||Costs||**Total**|Total|
||||£|£|£|**£**|£|
||**RESTRICTED**|||||||
||Service agreements|||||||
||MG Nursery||56,851|13,681|9,664|**80,196**|141,565|
||Hornsey Road Children’s Centre||5,445|4,793|1,403|**11,641**|777,522|
||Starting Well / Early Parenthood Prog.||133,192|33,297|22,812|**189,301**|173,784|
||FGM Services||92,956|43,582|18,708|**155,246**|131,840|
||Therapeutic Service||7,875|4,742|1,729|**14,346**|12,556|
||Syrian Fund Service||21,786|2,211|3,288|**27,285**|24,173|
||Food Cooperative Service||54,491|23,555|10,694|**88,740**|32,477|
||Living Well / Stroke Service||114,966|39,891|21,218|**176,075**|137,968|
||Social Prescribing||35,471|4,071|5,418|**44,960**|39,088|
||Wellbeing Service||69,642|89,107|21,751|**180,500**|254,054|
||Time Limited Projects||4,264|2,597|940|**7,801**|43,628|
||Andover Youth Service||57,341|13,415|9,693|**80,449**|16,418|
|||-----------------||-----------------|-----------------|-----------------|------------------|
||Total Service agreements||654,280|274,942|127,319|**1,056,540**|1,785,073|
||**UNRESTRICTED**|||||||
||Health and welfare services||329,692|-|49,173|**378,865**|432,854|
||TOTAL COST OF|-----------------||-----------------|-----------------|-----------------|------------------|
||CHARITABLE ACTIVITIES||983,972|274,942|176,491|**1,435,405**|2,217,927|
|||========||========|========|========|=========|
|**2.**|**SUPPORT COSTS**|||||||
|||||||**2024**|2023|
|||||||**£**|£|
||General expenses|||||**12,103**|25,257|
||Insurance|||||**15,258**|17,286|
||Telephone/Broadband|||||**38,219**|31,977|
||Postage|||||**959**|1,132|
||Copying|||||**1,874**|4,656|
||Bank charges|||||**1,841**|1,585|
||Stationery and office supplies|||||**1,031**|1,429|
||Training and development|||||**318**|4,045|
||Depreciation|||||**7,330**|7,676|
||Computing|||||**15,024**|15,448|
||Bad debts and provisions|||||**4,000**|1,440|
||Repairs and maintenance|||||**41,766**|34,655|
||Cleaning|||||**47,373**|40,646|
||Light and heat|||||**74,947**|49,161|
||Water rates|||||**2,372**|2,187|
||Non Domestic Rates|||||**859**|**-**|
||Management charges|||||**6,135**|-|
||Winter and Summer Wellbeing Festivals recruitments|||||**1,319**|14,687|
||Website / Communications /Charity Log|||||**2,194**|1,490|
||Governance (see Note 3)|||||**6,502**|6,154|
||HR Resources|||||**6,905**|3,259|
19
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
||Staff Support|**6,999**|8,176|
||Loss on disposal of asset|**-**|3,644|
|||----------------|----------------|
||Gross Costs|**296,328**|275,991|
||Less: income from Projects excluded from SOFA (page 18)|**(119,837)**|(186,662)|
|||----------------|----------------|
||Net Support Costs (see note 1)|**176,491**|89,329|
|||========|========|
|**3.**|**GOVERNANCE COSTS**|||
|||**2024**|2023|
|||**£**|£|
||Accountancy and audit fees|**4,800**|4,800|
||Insurance|**954**|888|
||General expenses|**748**|466|
|||----------------|----------------|
|||**6,502**|6,154|
|||========|========|
|**4.**|**NET INCOMING RESOURCES FOR THE YEAR**|||
|||**2024**|2023|
|||**£**|£|
||This is stated after charging:|||
||Depreciation|**7,330**|7,676|
||Auditor’s remuneration|**4,800**|4,800|
|||========|========|
|**5.**|**EMPLOYEES**|||
||The average number of people employed during the year was as follows:|||
|||**2024**|2023|
|||**No**|No|
||Senior Management Team|**3**|3|
||Projects and services|**40**|53|
|||----------------|----------------|
|||**43**|56|
|||========|========|
||Employment costs were:|**2024**|2023|
|||**£**|£|
||Wages and salaries|**861,859**|1,271,439|
||Social security costs|**75,213**|111,754|
||Pension costs|**32,082**|31,001|
|||----------------|----------------|
|||**969,154**|1,414,194|
|||========|========|
During the year one employee earned £60,000 or more and no Trustee received any remuneration or reimbursed expenses.
Pension costs relate to a defined contribution scheme. Contributions are charged in the years to which they relate.
20
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
## **6. INCOMING RESOURCES**
Details of larger restricted grants and other funding received during the year include:
||**2024**|2023|
|---|---|---|
||**£**|£|
|**Manor Gardens Nursery**|||
|London Borough of Islington|**54,263**|70,648|
|**Hornsey Road Children’s Centre**|||
|London Borough of Islington|**-**|481,986|
|Best Practice Network|**-**|7000|
|**Starting Well / Early Parenthood Programme**|||
|London Borough of Islington|**-**|33,000|
|Haringey Council|**-**|6,750|
|University College London|-|4,000|
|**FGM Services**|||
|London Borough of Newham// Hestia Housing & Support|**68,000**|68,000|
|Barts Health NHS Trust|**-**|22,008|
|London North West University Healthcare NHS Trust|**12,021**|33,012|
|Guilty Feminist|**1,500**|-|
|Choose Love|**24,580**|-|
|**Starting Well Services**|||
|Cloudesley|**5,000**|-|
|London Borough of Islington/Family Hubs Start for Life|**24,999**|-|
|**Therapeutic Service**|||
|Shpresa|**3,500**|5,000|
|**Syrian Resettlement Programme**|||
|London Borough of Islington|**-**|10,000|
|**Food Cooperative**|||
|Soil Association|**8,000**|1,000|
|Greater London Authority|**44,806**|13,200|
|Camden & Islington Public Health|-|46,000|
|Cripplegate Foundation|**20,000**|**-**|
|**Living Well Services**|||
|NHS Islington CCG|**69,153**|69,153|
|London Borough of Islington|**3,742**|1,750|
|Cripplegate Foundation|-|18,878|
|**Social Prescribing**|||
|Primary Care Network North Islington GP Federation|**21,791**|40,382|
|Help on Your Door Step|**23,621**|-|
|**Single Point of Access**|||
|London Borough of Islington|**58,524**|60,378|
21
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
||**2024**|2023|
|---|---|---|
||**£**|£|
|**Wellbeing Communities Service**|||
|London Borough of Islington – Community Mental Health & Wellbeing|**98,800**|120,000|
|Transport For London (Ground Works)|-|1,045|
|Cloudesley|**43,459**|50,059|
|Cripplegate Foundation|-|2,667|
|Camden and Islington Foundation|**39,545**|32,143|
|Greater London Authority|**-**|10,000|
|NHS-NEL Thrive LDN HIV|-|10,000|
|Kickstart / DWP|-|10,703|
|Community Trust Lottery|**72,623**|-|
|Fabians Place|**5,000**|-|
|London Borough of Islington – Warm Space Fund|**2,650**|-|
|**Time Limited Projects**|||
|Islington GP Federation|-|10,000|
|Soil Association|-|8,000|
|**Youth Services – Andover**|||
|Islington Council|**60,000**|45,000|
|Home Office Violence Reduction Unit|**48,707**|**-**|
|**Others**|||
|Total of all other grants / fees / income|**221**|260,144|
||**-----------------**|----------------|
||**814,505**|1,551,906|
||**========**|========|
**7. PROJECTS: RESTRICTED REVENUE FUNDS** The table below shows the reserves of Projects for specific purposes, as included in Restricted Funds (see note 12):
|note 12):|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|MG Nursery/HRCC|**22,945**|-|
|Hornsey Road Children’s Centre|-|3,500|
|Starting Well|-|46,378|
|FGM services|**6,514**|-|
|Therapeutic Service|-|75|
|Syrian Fund Service|**3,068**|27,065|
|Food Cooperative Service|**48,942**|52,872|
|Living Well|**9,595**|29,120|
|Social Prescribing|-|16,050|
|Wellbeing Service|**108,335**|126,043|
|Single Point of Access|**115,211**|113,664|
|Time Limited Projects|**1,222**|8,083|
|Youth Service – Andover|**67,217**|29,267|
||**-----------------**|----------------|
||**383,049**|452,117|
||========|========|
22
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
## **8. TANGIBLE FIXED ASSETS**
|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|
||**Freehold**|**Furniture &**|**Café**||
||**Premises**|**Equipment**|**Equipment**|**Total**|
||£|£|£|£|
|COST|||||
|1stApril 2023|938,527|300,392|-|1,238,919|
|Disposals|-|-|-|-|
|Additions|-|-|-|-|
|Transfers|-|-|-|-|
||-----------------|-----------------|-----------------|-----------------|
|**31stMarch 2024**|**938,527**|**300,392**|**-**|**1,238,919**|
||========|========|========|========|
|DEPRECIATION|||||
|1stApril 2023|-|268,132|-|268,132|
|On Disposal|-|-|-|-|
|Charge for the period|-|7,330|-|7,330|
||-----------------|-----------------|----------------|-----------------|
|**31stMarch 2024**|**-**|**275,459**|**-**|**275,459**|
||========|========|========|========|
|NET BOOK AMOUNT|||||
|**31stMarch 2024**|**938,527**|**24,933**|**-**|**963,460**|
||========|========|========|========|
|31stMarch 2023|938,527|32,260|-|970,787|
||========|========|========|========|
Freehold premises are shown at their original cost including the cost of additions and improvements. The Trustees have estimated the insurance value at £10,000,000.
## **9. DEBTORS**
|**9.**|**DEBTORS**|||
|---|---|---|---|
|||**2024**|2023|
|||**£**|£|
||Service charges|**104,840**|178,428|
||Prepayments and accrued income|**17,774**|6,646|
|||-----------------|-----------------|
|||**122,614**|185,074|
|||========|========|
|**10.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||**2024**|2023|
|||**£**|£|
||Operating creditors|**58,382**|77,087|
||Other taxes and social security|**23,896**|26,236|
||Other creditors and accruals|**128,353**|106,757|
|||-----------------|-----------------|
|||**210,631**|210,080|
|||========|========|
Included in “Other creditors and accruals” are amounts outstanding to pension schemes at the balance sheet date of £5,891 (2023: £5,865).
23
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|11.|UNRESTRICTED FUNDS|Balance|Movement in Funds|Balance|
|1/4/23|Income|Transfers|Expenditure|31/3/24|
|£|£|£|£|£|
|Designated (see note below)|
|Building Refurbishment Reserve|246,924|-|-|-|246,924|
|Revenue Reserve|228,291|-|(59,678)|-|168,613|
|----------------|----------------|----------------|----------------|----------------|
|475,215|-|(59,678)|-|415,537|
|----------------|----------------|----------------|----------------|----------------|
|Undesignated/General funds|179,642|473,932|(95,067)|(378,865)|179,642|
|========|========|========|========|========|
|TOTAL UNRESTRICTED FUNDS|654,857|473,932|(154,745)|(378,865)|595,179|
|========|========|========|========|========|
**----- End of picture text -----**
Designated funds have been set aside out of unrestricted funds by the Trustees to cover material fluctuations in rent and room hire income, essential and non-recurring administration costs, and nonrecurring costs resulting from withdrawal of some or all of external funding for projects. Transfers represent unrestricted funds that have subsidised projects undertaken during the year that were associated with restricted funds.
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|12.|RESTRICTED FUNDS|Balance|Movement in Funds|Balance|
|1/04/23|Income|Transfers|Expenditure|31/03/24|
|£|£|£|£|£|
|Capital funds:|
|Building asset fund|305,612|-|-|-|305,612|
|Fixed asset fund|19,504|-|-|-|19,504|
|Other grants|218,912|-|-|-|218,912|
|-----------------|-----------------|----------------- -----------------|-----------------|
|544,028|-|-|-|544,028|
|Revenue funds:|
|Projects activities (note 7)|452,117|814,505|172,967 (1,056,540)|383,049|
|Other revenue funds|189,615|-|(18,222)|-|171,393|
|-----------------|-----------------|----------------- -----------------|-----------------|
|1,185,760|814,505|154,745 (1,056,540)|1,098,470|
|========|========|========|========|========|
**----- End of picture text -----**
Building asset fund: Original cost and initial improvements made to the Charity’s original freehold premises.
Fixed asset fund: Cost of assets funded by grants. Other grants: Capital grants received for specific purposes.
Projects activities: Restricted revenue funds that have been received in the year as set out in note 6. Other revenue funds: Restricted funds not directly related to projects.
## **13. NET ASSETS ATTRIBUTABLE TO FUNDS**
**----- Start of picture text -----**
|||||||
|---|---|---|---|---|---|
|Unrestricted|Restricted|Total|Total|
|31/03/24|31/03/23|
|£|£|£|£|
|Fixed assets|419,432|544,028|963,460|970,787|
|Current assets|386,378|554,442|940,820|1,079,910|
|Current liabilities|(210,631)|-|(210,631)|(210,080|)|
|-----------------|----------------- -----------------|------------------|
|595,179|1,098,470|1,693,649|1,840,617|
|========|========|========|========|
**----- End of picture text -----**
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Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
## **14. RELATED PARTY TRANSACTIONS**
- There were no related party transactions during the year or previous year.
- There is no ultimate controlling party.
## **15. CONTINGENT LIABILITIES**
The charity had no material contingent liabilities at 31[st] March 2024 nor at 31[st] March 2023.
25
Manor Gardens Welfare Trust NOTES TO THE ACCOUNTS For the year ended 31[st] March 2024
## **16. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] MARCH 2023**
|||UNRESTRICTED|UNRESTRICTED|RESTRICTED||
|---|---|---|---|---|---|
|||General|Designated||**2023**|
||Note|Funds|Funds||**Total**|
|||£|£|£|**£**|
|**INCOME FROM:**||||||
|Donations and legacies||2,353|-||**2,353**|
|Charitable activities||||||
|Grants and service agreements|6/7|-|-|1,551,906|**1,551,906**|
|Rent and service charges||374,671|-|-|**374,671**|
|Room hire||22,090|-|-|**22,090**|
|Income from services supplied||5,548|-|-|**5,548**|
|Other||2,531|-|-|**2,531**|
|Investment income||5,273|-|-|**5,273**|
|||----------------|----------------|----------------|**----------------**|
|Total income||412,466|-|1,551,906|**1,964,372**|
|||----------------|----------------|----------------|**----------------**|
|**EXPENDITURE ON:**||||||
|Raising funds||180|-|-|**180**|
|Charitable activities||||||
|Service agreements|1|-|-|1,785,073|**1,785,073**|
|Health and welfare services|1|432,854|-|-|**432,854**|
|||----------------|----------------|----------------|**----------------**|
|**TOTAL EXPENDITURE**||433,034|-|1,785,073|**2,218,107**|
|||----------------|----------------|----------------|**----------------**|
|**NET INCOME / (EXPENDITURE)**||(20,568)|-|(233,167)|**(253,735)**|
|Transfers between funds|11/12|20,568|(74,489)|53,921|**-**|
|||----------------|----------------|----------------|**----------------**|
|**NET MOVEMENT IN FUNDS**||-|(74,489)|(179,246)|**(253,735)**|
|**RECONCILIATION OF FUNDS:**||||||
|TOTAL FUNDS AT 1 APRIL 2022||179,642|549,704|1,365,006|**2,094,352**|
|||----------------|----------------|----------------|**----------------**|
|**TOTAL FUNDS AT 31 MARCH 2023**|11/12|179,642|475,215|1,185,760|**1,840,617**|
|||**========**|**========**|**========**|**========**|
26