Company reglstratlon number: 03691821 Charlty reglstratlon number: 1073979 Clockhouse and New Charlton Community Centre formerly known as Clockhouse Communlty Centre A550clatlon (Greenwlchl IA tompany Ilmlted by guarantee) Annual Report and Flnanclal Statements for the Year Ended 31 March 2024 Fleld Sulllvan Llmlted 9 Hare & Blllet Road Bl?ckheath SE3 ORB
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Assoclatlon (Greenwlch) Contents Reference and Admln15tratlve Details 2to9 Trustees, Report Independent Examlner's Report Iotoll statement of Flnanclal Actlvltle5 12 Balance Sheet 13to14 Notes to the Flnanclal Statements 15to29
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Associatlon (Greenwlch) Reference and Admlnistrative Detalls Chalr Carlne Epardaud Trustees Ade Adegbenro Ayo Aklnfe Karen Dlbben Carine Epardaud Akllah Jeffers Rlta Lovett Jean Wong Charlty Reglstratlon Number 1073979 Company Reglstratlon Number 03691821 The charltyls Incorporated In England and Wale5. Clockhouse Community Centre Deflance Walk Woolwich Dockyard London SE18 SQL Reglstered Offlce Independent Examlner Fleld Sullivan Llmlted 9 Hare & Billet Road Blackheath SE3 ORB Page I
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclat5on (Greenwich) Trustees, Report Objectlves and Actlvltles Objerts and alms al To promote the beneflts of the Inhabltants of the Royal Borough of Greenwlch and It's envlrons Iherelnafter alled 'the area of beneflV'I, wlthout discrlmlnation In regard to gender, sexual orlentatlon, race or of polltlcal, rellgious, or other oplnlons by assoclating together the said inhabitants and the local authorltles, voluntary and other organlsation In a common effort to advance education and to provlde facllltie5 for the recreatlon and lelsure tlme occupatlon with the object of Improvlng the condltions of Ilfe for the sald Inhabltants. b) To establlsh or secure the establlshment of a Communlty Centre {herelnafter called "the Centre) and to maintaln and manage the same (whether alone or in co-operatlon wlth any local authorlty or person or body) In furtherance of these objectlves. cl The Centre should be apolltlcal and non-sectarlan. Objerts oAthe churlty, prln¢lpal artlvltles ond organlsatlon of our work The Clockhouse exlst5 to provlde sUPPOrt to the local community by provldlng hall faclllties for local communlty groups, statutory and vojuntary organlsatlons to hold thelr meetlngs / activltles, space for tralnlng and edutatlonal PLtrpose5; It ao provides community office space for not-for-profit communlty groups and voluntary organlsations. The Clockhouse Is located In one of the poorest parts of the Royal Borough of Greenwich wlth a hlgh percentage of the local population in recelpt of welfare benefits, high numbers of recent Migrant communities and a hlgh percentage of single parent famllles. Users from nearby estates see the clockhouse as ? place of support and a locatlon to attend tralnlng ¢lasses, reduce soclal Isolatlon by maklng connectlons wlth others and use gur Communlty Café, Key work WÈ have done wlthln the past year Fundralsln l. In November 2023 we were awarded a substantlal fundlng grant from The Natlonal Lottery. The grant wa5 for 3 year perlod, commenclne In Aprll 24 for a 3 year perlod. The overall annual amount was for £119k, wlth the Clockhouse retalnlng half of tha¢ wlth the other 50% belng dlstributed across 5 external partner agencies. The Partnershlp element of thls bld made It a partlcularly strong #ppllcatlon, and th15 was commented on by the Lottery Grant panel. 2. Further successful grants awarded to us Include the Greenwlch Nelghbourhood Grant Fund. The grant was for £44k enabllng us to replace all bathrooms in the Clockhouse and re decorate the Charlton Hall, We are awaltlng a further £24k Grant which has been confirmed, to flt a new kitchen in Charlton and Install 2 new floors In the Clockhouse maln hall5, Page 2
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclation (Greenwich) Trustees, Report 3. Successfully fundralsed £12k to replace all the exlstlng communal chairs In both centres. Extenslve Clockhouse re develo Slnce Aprll 2023, The Clockhou5e, a Grade 2 Llsted bulldlng has been undergolng an extenslve re development mainly to the external parts of the bullding. Th15 work as we speakls very close to completlon wlth an expected concluslon on the 9th May. ment It ha5 been qulte a challenge trylng to keep the bulldlng fully operational durlng thls past year, but we have endeavoured to keep dlsruptlon to both our customer Broups and our tenants to a mlnlmal and In that we have largely succeeded. Some actlvltles had to be curtailed or moved to another room or hall, and we had a few cancellatlons, but larBelv we proceeded and carried on as usual and for th15 we must be grateful to our Buildlng tontractors, Equans, who worked cooperatlvely and consultatlvely with us throughout the past 12 months. The beneflts of the work are hlghly vlslble with the wlndows havlng been re fltted wlth new frames, the roof and dralns have been extensively repalred and upgraded and the hlstorlc clock and tower lovlngly and falthfully restored. So our bulldlngi a much loved local landmark has had Its appearance hugely Improved and thls wlll be appreclated by all who visit or work in the Clockhouse. Welfare Pro For the past 4 years a slgnlficant percentage of our local populatlon have been negatlvely Impacted firstly by Covld and an ongolng Cost Of Llvlng crlsls. In response to these unprecedented event5 The Clockhouse team have developed and expanded an extenslve Welfare programme. ramme Thls has grown Into a blgger and contlnuou5 programme. There are 2 dlsilnct aspects to our Welfare programme: l . Our Advlce Hub wlth face-to-face meetlngs wlth clients. Offerlng face to face meetlngs between cllents and our Advlsors has proven to be a great success. Greenwlch Council have been so Impressed wlth the Model we developed, that they have copled and repllcated In In 3 other venues across the Borough. Page 3
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclation (Greenwich) Trustees, Report Judglng by the numbers attending, annually over1000 ¢llents thls Service Is needed more than ever and It wlll be crltlcally Important in the months ahead. We are delighted that we have been able to secure Fundlng for a further 3 years from the National Lottery to keep thls proleet a¢tlve and we have actually expanded the servlce through having more Advlsors avallbe to meet the publ1¢. 2. Our Foodbank The Clockhou5e has been re5pondlnE to the needs of the most vulnerable and isolated people In our local populatlon slnce the orsset of Covld In March 2020. Our weekly Foodbank supported by Greenwlch Public and other slgnlflcant partner5 Ilke Fareshare, M&S, Lldl and Asda, Is providing over 100 food bags every Frlday. We also dellver a number of parcels to some elderly and housebound local resldents. This 5eNice Is overseen by one Clockhouse lead worker and a team of wonderful Volunteers who work extremely hard each Frlday sourclngtr collertlng and dlstrlbutlng food. Partnershl Developing and malntalnlrsg Partnerships15 somethlng the Clockhouse and New Charlton staff team have worked hard to develop and Improve. Our Advlce Hub 15 a perfect example. It involve5 key partnershlps with 5 external agencles who provlde expert support advlce. Our core p?rtner5 are . The Her Centre Greenwlch Welfare Rlghts Greenwich Housing Rights Cltlzens Advice Bureau Plumstead Common Law centre Ukranlan and Nepalese communlty Support groups The Clockhouse manaEer wlll work on a number of partnershlp Fundlng appllcatlons durlng the next 12 months. The Mer er and the future Wlth the formal merger havlng been ratlfied In March 2023 and now formally completed In March 24, we can seek to progress and Improve the work we have already been undertaklng. Page 4
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Association (Greenwlch) Trustees, Report The prlmary Merger alms are: l. An Increased user area enabllng larger jolnt events and publlc awareness 2. Reduced overheads for both centres 3. The Improved resource of a comblned Board of Trustees 4. Enhanced influence wlth Greenwich Councll for support 5, Enhanced management experience via the SeNlce Agreement for the past three years 6. Potentlal for future growth over and above the current long established Customer groups Overvlew We must acknowledge and thank our Board of Trustees and e5peclally reflect on the exten51ve work carrled out by Mlke Ball who made ? huge contribution to ensurlng the Merger was finally completed IVS a150 falr to acknowledge that Greenwlch Councll and our local Counclllors have alway5 been supportlve of thls Inltlatlve Alm5 and Oblectlves for thè next 12 months Expand and develop our exlstlng Welfare programme and work wlth the soclally marglnallsed seek to empower our core cllents- vla Surveys & Questlonnalres Slgnlficantly Improve our IT Bnd Broadband servlce Improve the Marketlng and Promotlon of both of our prem15e5 Develop more IT tralnlng classes Upgrade the Prlnce Royal to a Digltal conference room Work wlth more natlonal Charltles Increase our Fundra151ng e5peclally wlth Partnershlp fundlng blds Completer further bulldlng Improvements- Refurblsh all 5 bathrooms Replace all exlstinE communal furnlture Develop a Staff roDm Page 5
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Associatlon (Greenwlch) Trustees, Report Publlc benefit The trustees confirm that they have complled wlth the requlrements of section 4 of the Charitles Act 2011 to have due regard to the publlc beneflt guldance publlshed by the Charity Commlssion for England and Wales. Governlng documents The Clockhouse Community Centre A5sociatlon IGreenwl¢hl Is governed by Its Memorandum of Assoclatlon and Artlcles of Assoclatlonls an Independent reglstered charltyi No. 1073979. As at 16 October 2024, the charlty had formally changed its name to Clockhouse and New Charlton Communlty Centre. Re¢rultment and appointment of trustee5 The management of the charltable company Is the respon51blllty of the Board of Trustees who are elected and co-opted under the terms of the Artlcles of Assoclatlon. The Board of Trustees meet5 monthly andls re5ponslble for the 5trateglc dlrectlon and pollcy of the Clockhouse. Day to day management of the charltable company Is delegated to the Centre Manager. Flnantlal Revlew ObJectlve5 ondpollcles The charlty'5 activltles expose It to several flnanclal rlsks Includlng credlt rlsk, cash flow rlsk and liquldity rlsk, The use of financial derlvatlves is governed by the charltls pollcles approved by the board of trustees, whlch provlde wrltten princlples on the use of financial derivatlves to manage these rlsks, The charlty does not use derivative flnanclal Instruments for speculatlve purposes. Tronsactlons undllnqnclal posltlon The Statement of Flnanclal Actlvltles, whlch15 set up out In net movement In funds note 17, shows a surplus for the year ended 31 March 2024 of £91,108 with total reserves carrled forward of £272,812. Detalls of movements Irs flxed assets are set out In note 12 to the accounts. Inve5tmentpollry and return5 Under the con5tltution, the Clockhou5e ha5 the power to make any Investment whlch the trustees see flt. At present, no fund5 have been Invested by the trustees. We had no 51gnificant concerns about The Clockhouse's future flnance5. Page 6
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclatlon (Greenwlch) Trustees, Report Re5erve5 The charlty commlsslon requlres charltie5 to determlne and explain thelr policy for free reserves. Thls has been explalned In note 17 to the accounts. Rlsk Munogement The Trustees tonduct perlodic revlews of the major rlsks to whlch the charltable company Is exposed and ensures that the systems and procedures are adequate to manage those risks that 3re Identlfled to mlnimlse any potentlal impact on the charltable company should any suth risks materlallse. To mltigate the Identlfied rlsks the board has set aslde followlng fund5 In separate bank accounts. These funds are earmarked and have merlted deslgnated fund status: a) A separate cllent account Is held for lorsg term and affiliated users Retalner Deposlts {refunded on thelr ceaslng usage of the Centre and after all outstandlng Involces settled). bl A separate bank account Is held for the earmarked 'Bulldings refurbishment Funds,. The Board revlews thls annually and declde5 to transfer part of any surplus each year to thls earmarked fund, The trustees actlvely revlew the major rlsk5 whlch the charlty face5 on a regular basis and belleve that maintalnlng reserves at current levels, comblned wlth an annual revlew of the tontrols over key flnanclal systems, will provide sufficlent resources Sn the event of adverse condltlons. The trustees are satlsfied that adequate Health and Safety and Rlsk Assessment pollcie5, and Employers and Publlc Llabillty insurance are In place. The trustees have also examined other operational and bu51nes5 rlsks faced by the charlty and confirm that they have establlshed systems to mltlgate any slgnlflcant rlsk. Credlt rlsk The charitvs prlncipal financial assets are bank balances and cash, trade and other recelvables, and Inve5tment5. The charlws credlt risk Is prlmarily attrlbutable to Its trade receivables. The amounts presented In the balance sheet are net of allowances for doubtful receivable5. An allowance for Impalrment Is made where there Is an Identifled loss event whlch. based on prevlous experlence, Is evldence of a reduction In the recoverabillty of the cash flow5, The credit rlsk on Ilquld funds and derlvative flnanclal Instruments Is Ilmited because the counterp3rt1e5 are banks with hlgh credit-ratings a5sIEned by International credlt-rating agencle5. Llquldlty r15k In order to malntaln liquldlty to ensure that sufflclent funds are avallable for ongolng operatlons and future developments, the charlty uses a mlxture of long-term and 5hort-term debt finance. Further detai15 regardlng liquldity rlsk can be found In the Statement of accountlng pollcles In the financlal statements. Page 7
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Communlty Centre Association {Greenwlch) Trustees, Report Trustees and officers The trustees and offlcer5 servlng during the year and slnce the year end were a5 follows.. Ade Adegbenro lappolnted 9 August 20241 Ayo Aklnfe Karen Dibben lappolnted 5 March 2024} Carine Epardaud lappolnted 5 March 20241 Akllah Jeffers (appointed 9 August 20241 Rlta Lovett Jean Wong lappolnted l November 20231 Emma Jonah Ireslgned 9 December 20241 Olalekan Kareem Ireslgned 9 December 2024} Gavln Thompson Ireslgned 9 December 20241 Dll-veer Kang Ireslgned l November 20231 Trustees.. Chalr.. Carlne Epardaud lappolnted 5 March 20241 Gavln Thompson Ireslgned 9 December 2024) Statement of trustees, responslbllltle5 The trustees Iwho are also the directors of Clockhouse and New Charlton Communlty Centre for the purposes of company lawl are responslble for preparlng the trustees, report and the flnancial statements In accordance wlth appllcable law and Unlted Klngdom Accountlng Standards (United Klngdom Generally Accepted Accounting Practlcel, Including FRS 102 "The Flnanclal Reportlng Standard appllcable In the UK and Republlc of Ireland" Company law requlres the trustees to prepare flnanclal statements for each financlal year. Under company law the trustees must not approve the financial statements unless they are satlsfled that they glve a true and falr vlew of the state of affalrs of the charltable company and of the Incomlng resources and appllcatlon of resources, Including Its Income and expendlture, of the ch?rltable company for that period, In preparing these financlal statements, the trustees are reqvlred to: select sultable accountlng pollcles and apply them con51sterstly; observe the methods and prlnciples in the Charlties SORP; make judgements and estlmates that are reasonable and prudent,. state whether applicable accountlng standards, comprislng FRS 102 have been followed, subject to anv materlal departures dlsc105ed and explalned In the financlal statements; and Page 8
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclation (Greenwich) Trustees, Report prepare the flnanclal statements on the golng concern basls unless It Is Inappropriate to presume that the charltable tompany will continue In bu51ness, The trustees are responslble for keeplng proper accountlng records that can dlsclose wlth reasonable accuracy at any tlme the financlal posltlon of the charltable company and enable them to ensure that the flnanclal statements comply wlth the Companles Act 2006. They are also responsible for $3feEuardlng the asset5 of the charitable company and hence for taklng reasonable steps for the preventlon and detection of fraud and other Irregularltles. The trustees are responslble for the malntenance and Integrlty of the corporate and flnanclal Informatlon Included on the charitable company's webslte. Leglslatlon governlng the preparatlon and dlssemlnation of flnanclal Statements may differ from leglslatlon In otherjurlsdlctlons. The annual report wa5 approved by the trustees of the charlty on 3 March 2025 and slgned on Its behalf by.. Carlne Epardaud." Chair, and trustee Page 9
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclation (Greenwlch) Independent Examlner's Report to the trustees of Clockhouse and New Charlton Communlty Centre ('the Companv,) I report to the charlty trustees {who are also Dlrectors for the purpose of tompany lawl on my examlnatlon of the account5 of the Clockhouse and New Charlton Community Centre ('the charltable companV} for the year ended 31 March 2024 whlch comprlse the Statement of Flnanclal Actlvltles, the Balance Sheet and related notes. 12 29 Thls report Is made solely to the charltls trustees, as a body, In accordante wlth sectlon 145 of the Charltles Aet 2011. My work has been undertaken so that I mlght state to the ¢harlt¢s trustees those matters l am requlred to state to them In thls report and for no other purpose. To the fullest extent permltted by law, I do not accept or assume responslblllty to anyone other than the charlty and the charitWs trustees as a body, for my work, for thls report, or for the oplnlons I have formed, Respon51bllltles and basls of report A5 the Charity's trustees of Clockhouse and New Charlton Communlty Centre you are responslble for the prep?ratlon of the aecounts In accordance with the requlrements of the Companles Aet 20061'the 2006 AcV}. Havlng sat15fied myself that the accounts of Clockhouse and New Charlton Community Centre are not requlred to be audited under Part 16 of the 2006 Act and are ellglble for Independent examination, I report In respect of my examlnatlon of your charltvs accounts as Carrled out under sectlon 145 of the Charltles Act 20111'the 2011 Act'l. In carrying out my examlnation I have followed the Dlrectlons glven by the Charlty Commlssion under sectlon 14515llbl of the 2011 Act. An Independent examlnatlon does not Involve gatherlng all the evldence that would be required In an audlt and consequently doe5 not cover all the matters that an audltor considers In glvlng thelr oplnlon on the financlal statements. The plannlng and conduct of an audit goes beyond the Ilmlted assurance that an Independent examlnatlon can provide. Consequently l express no opinlon as to whether the flnancial statements present a 'true and falrf view and my report 15 limlted to those speclfi¢ matter5 set out In the Independent examlnerfs statement. Independent examlnerfs statement Slnce Clockhouse and New Charlton Communlty Centre 's gross Income exceeded £250,000 your examlner must be member of a body Ilsted In 5ettlon 145 of the 2011 Act. I confirm that l am qualified to undertake the examlnation because l am a member of ICAEW. whlch Is one of the115ted bodles. I have completed my examlnatlon. I conflrm that no matter5 have come to my attentlon In connectlon wlth the examlnatlon givlng me cause to belleve: l. accounting records were not kept In respect of Clockhou5e and New Charlton Communlty Centre a5 requlred by 5ectlon 386 of the 2006 Act; or 2. the accounts do not accord with those re¢ord5,' or 3. the actount5 do not tomply wlth the accountlng requlrement5 of sectlon 396 of the 2006 Act other than any requlrement that the accounts Blve a 'true and falr vlew, whlch Is not a matter consldered as part of an independent examination; or Page 10
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoc5ation {Greenwich) Independent Examiner's Report to the trustees of Clockhouse and New Charlton Communlty Centre ('the Company,) 4. the accounts have not been prepared In accordance wlth the methods and prlnciple5 of the Statement of Recommended Practlce for accountlng and reportlng by charities applicable to charlties preparlng thelr accounts In accordance with the Flnancial Reportlng Standard applicable In the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other matters In connection wlth the examlnatlon to whlch attentlon should be drawn In this reporfin order to enable a proper understandlng of the accounts to be reached. TIM Sullivan FCA Fleld Sullivan Limited 9 Hare & Billet Road Blackheath SE3 ORB Page 11
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Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclation (Greenwlch) (Reglstration number: 03691821) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tanglble assets 12 20,013 25,946 Current assets Debtors Cash at bank and In hand 13 42,302 226,485 16,881 148,775 14 268,787 165,656 Credltors: Amounts falllng due wlthln one year 15 {15,9881 19,898} Net turrent ¥ssets 252,799 155,758 Net asset5 272.812 181,704 Funds of the charlty: Restrlcted In¢ome funds Restrlcted funds 42,592 Unrestrlcted Income funds Unre5trlcted funds 230,220 181,704 Total funds 17 272,812 181,704 For the financlal year endlng 31 March 2024 the charlty was entltled to exemptlon from audlt under sectlon 477 of the Comp3nles Act 2006 relatlng to sm311 companles. Dlrectors, responsibllltles.. The members have not requlred the charity to obtaln an audlt of It5 accounts for the year In questlon In accordance wlth sectlon 476; and The dlrectors acknowledge thelr responsibilltles for complylng wlth the requlrements of the Art wlth respect to accountlng records and the preparatlon of accounts. The notes on pages 15 to 29 form an Integral part of these flnanclal statements. Page 13
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Associatlon {Greenwich) (Registratlon number: 03691821) Balance Sheet as at 31 March 2024 The flnanclal statements on pages 12 to 29 were approved by the trustees, and author15ed for155ue on 3 March 2025 and signed on thelr behalf by.. Carine Epardaud Chalr'and trustee The notes on pages 15 to 29 form an Integral part of these flnanclal statements. Page 14
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclation (Greenwich) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 I Charlty Status The charlty Is Ilmlted by guarantee, Incorporated In England and Wales, and consequently does not have Share capltal. Each of the trustees Is Ilable to contribute an amount not exceeding £1 towards the assets of the charlty In the event of Ilquldation. The address of It5 reglstered office Is: Clockhouse Communlty Centre Deflance Walk Woolwlch Dockyard London SE18 SQL These financlal statements were authorlsed for Issue by the trustees on 3 Marth 2025. 2 Accountlng pollcles Summary of slgnlflcant accounting pollcles and key accountlng estlmates The princlpal aecountlng policies applied In the preparation of these flnancial statements are set out below. These policies have been conslstently applled to all the years presented, unless otherwlse stated. Statement of compllance The flnanclal 5tatement5 have been prepared In accordance wlth Accounting and Reporting by Charltles.. statement of Recommended Practlce appllcable to charltles preparlng thelr accounts In accordan¢e wlth the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 leffettive l January 20191 {Charltles SORP IFRS 1021 Second edition October 20191, the Flnanclal Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. They also comply wlth the Companles Act 2006 and Ch?rltle5 Act 2011. Basls of preparatlon Clockhouse and New Charlton Community Centre meets the deflnltlon of a publle benefit entlty undef FRS 102. Assets and Ilabllltles are Inltially recogn15ed at hlstorlcal cost or transaction value unless otherwlse stated In the relevant accounting poliry notes. Golng concern The trustees conslder that there are no materlal uncertalntles about the charlty's abllSty to contlnue as a golng concern nor any signlficant areas of uncertalnty that affect the carrying value of asset5 held by the charity. Page 15
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Associatlon {Greenwich) Notes to the Flnancial Statements for the Year Ended 31 March 2024 Judgements and key sources of e5tlmatlon uncertalnty In the applicatlon of the charltvs accountlng pollcles, the dlrectos are requlred to make judgements, estlmates and assumptlons about the carrylng amourst of assets and Ilabilitles that are not readily apparent from other sources. The estimates and assoclated assumptions are based on historical experlencÈ and other factors that are consldered to be relevant. Actual result5 may dlffer from these estlmates. The estlmates and underlylng assumptlons are reviewed on an onEolng basls. Revlslons to accountlng estlmates are recognised in the periods In whlch the estimate is revSsed where revlslons affects only that perlod, or In the perlod of the revlslon and future perlods where the revlslons affects both current and future perlod5. Income and endowment5 All Income Is recognlsed once the charlty has entltlement to the Income, It Is probable that the Income wlll be rerelved and the amount of the Income receivable can be measured rellably. Donotlons ond lega¢les Donations are recognlsed when the charity has been notified in writing of both the amount and settlement date. In the event that a donatlon Is subject to condltions that requlre a level of performance by the charlty before the charlty Is entltled to the funds, the Irscome Is deferred and not recognlsed untll elther those condltlons are fully met, or the fuifilment of those conditlons Is wholly withln the control of the charlty and It Is probable that these condltlons wlll be fulfilled In the reportlng perlod. Grants recelvoble Grants are recognlsed when the Charity has an entltlement to the funds and any condltlons Ilnked to the grants have been met. Where performance conditlon5 are attached to the grant and are yet to be met, the Income Is recognlsed as a Ilablllty and Included on the balance sheet as deferred Income to be released. Investment Income Dlvidend5 are recognised once the dividend has been declared and notiflcation has been received of the dlvldend due. Expendlture All expenditure is recognlsed once there Is a legal or constructlve obllg3tlon to that expenditure, It Is probable settlement Is requlred and the amount can be measured rellably. All costs are allocated to the appllcable expendlture headlng that aggregate similar costs to that category. Where costs cannot be directly attrlbuted to particular headlngs they have been allocated on a basls conslstent with the use of resources, with central staff costs allocated on the basls of tlme spent, and depreclatlon charges allocated on the portlon of the assevs use. Other support costs are allocated based on the spread of staff costs. Page 16
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Associatlon (Greenwlch) Notes to the Financlal Statements for the Year Ended 31 March 2024 Charltable artlvltles Charltable expendlture tomprlses those costs Incurred by the charity In the dellvery of it5 activitles and services for Its beneficlaries. It Include5 both costs that can be allocated dlrectly to such actlvlties and those costs of an Indlrect nature necessaryto support them. Grunt provlslons Prov151ons for grants are made when the Intention to make a grant has been communicated to the reclplent but there Is uncertalnty about elther the tlmlng of the grant or the amount of Brant payable. Support tost5 Support costs Include central functlons and have been allocated to activlty cost categorles on a ba51s conslstent wlth the use of resources, for example, allocating property costs by floor areas, or per caplta. staff costs by the tlme spent and other costs by thelr usage. Taxatlon The charity Is consldered to pass the tests set out In Paragraph I Schedule 6 of the Flnance Act 2010 and therefore It meets the definitlon of a charltable company for UK corporation tax purposes. Actordingly, the charity Is potentlally exempt from taxatlon in respect of Income or capltal Bain5 recelved wlthln categorles covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Sectlon 256 of the Taxation of Chargeable Galns Art 1992, to the extent that such Income or galns are applled exclusively to charitable purpose5. Tanglble fixed assets Individual fixed assets costlng £500,00 or more are Inltlally recorded at cost, less any subsequent accumulated depreclatlon and subsequent accumulated Impalrment losses. Depreclatlon and amortlsatlon Depreclationls provided on tangible flxed assets so as to wrlte off the cost or valuation, less any estlmated re51dual value, over thelr expected useful economic Ilfe a5 follows: Asset class Furnlture and equlpment Playground Depreclation method and rate 25Yo reducing balance IO% straight Ilne Page 17
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Associatlon (Greenwlch) Notes to the Flnancial Statements forthe Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customer5 for merchandlse sold or servlces performed In the ordlnary course of buslness. Trade debtors are recognlsed Inltlally at the transactlon price. They are subsequently measured at amortlsed cost uslng the effective Interest method, less provislon for Impalrment. A provislon for the Impairment of trade debtors Is establlshed when there Is oblectlve evldence that the charlty wlll not be able to collect all amount5 due accordlng to the orlglnal terms of the recelvables. Cash and cash equlvalents Cash and cash equlvalents comprlse cash on hand and call deposlts, and other short-term hlghly Ilquld Investments that are readily convertlble to a known amount of cash and are subject to an Inslgrslflcant rlsk of change In value. Trade credltors Trade credltors are obllgatlons to pay for goods or serylces that have been acqulred In the ordlnary course of business from suppllers, Accounts payable are classlfled as current liabllltles If the charity does not have an uneondltlonal rlght, at the end of the reportlng perlod, to defer settlement of the credltor for at least twelve months after the reportlng date. If there15 an uncondltlonal rlght to defer settlement for at least twelve month5 after the reportlng date, they are presented as non-current liabilities. Trade credltors are recognlsed Inltlally at the transactlon prlce and Subsequently measured at amortlsed cost uslng the effectlve Interest method. Borrowln8S Interest-bearlng borrowings are Inltlally recorded at falr value, net of transactlon costs. Interest-bearlng borrowlngs are subsequently carrled at amortised cost, with the difference between the proceeds, net of tTansactlon costs, and the amount due on redemptlon belng recognised as a charge to the Statement of Flnanclal Actlvltles over the perlod of the relevant borrowlnE. Interest expense15 recognlsed on the bas15 of the effectlve Interest method arsd Is Included In Interest payable and slmllar charges. Borrowlngs are classlfled as current Ilabllltles unless the charlty has an uncondltlonal rlght to defer settlement of the liablllty for at least twelve months after the reportlng date, Fund structure Unrestrlcted Income funds are general funds that are avallable for use at the trustee5 dlscretlon Irs furtherance of the objectlve5 of the charity. Deslgnated funds are unre5trlcted funds set aslde for speclflc purposes at the dlscretlon of the trustees. Page 18
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclation (Greenwlch) Notes to the Financial Statements for the Year Ended 31 March 2024 Restricted Income fund5 are those donated for use In a partlcular area or for speclfic purposes, the use of whlch Is restricted to that area or purpose. Penslons and other post retlrement obllgations The charity operate5 a deflned contrlbution pension scheme which Is a penslon plan under whlch fixed ontributions are pald Into a penslon fund and the charity has no legal or construttive obligatlon to pay further contrlbutlons even If the fund does not hold sufficlent assets to pay all employees the beneflts relatlng to employee service In the current and prlor perlods. Contrlbutlons to deflned contrlbution plans are recognlsed In the Statement of Flnantlal Actlvitles when they are due. If Contribution payments exceed the contributlon due for serylce, the excess is recognlsed as a prepayment. Buslness comblnatlos)S A Deed of Transfer was made between New Charlton Communlty A550clatlon (company reglstratlon number 07702459} whose registered office is at 217 Maryon Road, London SE7 8DB (registered charity number 11456421 ("NCCA'I and Clockhouse Community Centre Assoclatlon (Greenwich) {company registratlon number 03691821) whose reglstered offlce Is at Clockhouse Communlty Centre, Deflance Walk, London SE18 SQL Ireglstered charlty number 10739791 I"Clockhouse"l. The trustee5 of both partie5 3greed that It would be in the best Interests of their respectlve charitable objects for the assets, Ilablllties and undertaking of NCCA to transfer to Clockhouse on the Effective Date of 30 June 2023. On 16 October 2024, Clockhou5e Communlty Centre Assoclatlon IGreenwlchl changed Its name to Clockhouse and New Charlton Communlty Centre to reflect the transfer. Page 19
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Communlty Centre Assoclatlon (Greenwlch) Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from donatlon5 and legacles Unrestrlcted Total 2024 Total 2023 General Restrlcted Donatlons and legacles; Transfer of assets from New Charlton Communlty Assoclation INCCA} Appeals and donations Grants, Includlng capltal grants; Grant5- Other agencies The Mercers Companv The Tree Oak Trust Royal Borough of Greenwlch - wlnter grant Royal Borough of Greenwlch - Growth Fund Royal Borough of Greenwlch- VCS 100,753 807 100,753 807 448 3,630 3,630 500 35.000 5,000 5,000 3,000 3,000 3,000 44,200 30,000 44,200 90,000 12,557 45,000 60,000 168,190 79,200 247,390 96,505 4 Income from charltable actlvlties Unrestrlcted Total 2024 Total 2023 General Afflllatlon fees Storage fees Rental Income Rent31 Income- NCCA other income Contractual Income - NCCA Festlval Income 900 900 930 1,980 124,472 21,963 18,548 13,011 12 1,980 124,472 21,963 18,548 13,011 12 1,200 135,175 17,524 39,211 617 180,886 180,886 194,657 Page 20
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Communlty Centre Association {Greenwich) Notes to the Financial Statements for the Year Ended 31 March 2024 5 Investment Income Unreslrlcted funds General Total 2024 Total 2023 Interest recelvable and slmllar Income; Interest recelvable on bank deposlts 3,275 3,275 1,312 6 Other Income Total 2024 Galn5 on sale of tangible flxed assets for charlty's own use 3,816 7 Expendlture on charltable actlvltles Total 2024 Total 2023 Note Food distrlbutlon Hub NCCA costs Event and equipment Cafe project Depreclatlon, amortlsatlon and other slmllar costs Grant fundlng of activities staff cost5 Supportcosts 1,818 17,073 ,121 8,911 4,920 10,500 238,595 54,321 4,398 10,390 5,903 6,314 28,000 220,516 49,580 io 344,259 325,101 Page 21
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Assoclation (Greenwlch) Notes to the Financlal Statements for the Year Ended 31 March 2024 8 Analysls of sUPPOrt Costs Total 2024 Total 2023 TralnlnE Cleaning Utilities 1,302 6,708 20,523 958 1,564 5,611 24,065 899 Insurance Repair5 and malntenance Telephone and fax Computer software and malntenanee Prlntlngi Postage and stationery Sundrles Cost of trustee meetlngs Marketlng Independent examiner Legal and professional Bad debts wrltten off Bank charges Other Interest payable Trade subscrlptlons 6,494 1,143 2,025 2,946 2,264 126 2,573 2,889 984 3,059 3,142 280 383 139 3,804 4,057 782 3,114 282 446 439 21 339 540 54,321 49,580 9 Trustees remuneratlon and expenses No trustee5, nor any persons connected wlth them, have recelved any remuneratlon from the charlty durlng the year. No trustees have recelved any relmbursed expenses or any other beneflts from the charlty durlng the year. Page 22
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Communlty Centre Associatlon (Greenwlch) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 io staff c05t$ The aggregate payroll costs were as follows: 2024 2023 Staff costs durlng the year were: Wages and 5alarles Soclal security costs Penslon costs Other staff costs 216,907 13,234 5,961 2,493 201,751 12,317 6,382 66 238,595 220,516 The monthly average number of persons Ilncludlng senlor management I leadershlp team} employed by the charlty durlng the year expressed as full time equivalents was as follows.. 2024 2023 No Charltable artlvltles 6 {2023- 61 of the above employee5 particlpated In the Defined Contrlbutlon Penslon Schemes. No employee recelved ernoluments of more than £60,000 durlng the year. The chlef executlve officer, as the highest pald member of staff, received beneflts totalllng £39.130 12023 £35,285). 11 Taxatlon The charlty15 a reglstered charlty and is therefore exempt from taxatlon. Page 23
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclation {Greenwich) Notes to the Financial Statements for the Year Ended 31 Marth 2024 IZ Tanglble fixed assets Furnlture and equlpmènt Playground Total Cost At l Aprll 2023 Disposals 181,442 12,400) 17,506 198,948 12,4001 At 31 Marth 2024 179,042 17,506 196,548 Depreclatlon At l April 2023 Charge for the year Ellminated on disposals 167,750 3,170 11,3871 5,252 1,750 173,002 4.920 11,3871 At 31 March 2024 169,533 7,002 176,535 Net bookvalue At 31 March 2024 9,509 10,504 20,013 13,692 12,254 25,946 At 31 March 2023 13 Debtors 2024 2023 Trade debtors Prepayments Accrued Income other debtors 16,745 1,372 13,842 266 2,773 24,185 42,302 16,881 14 Cash and cash equlvalent5 2024 2023 Cash on hand Cash at bank 8.841 217,644 148,775 226,485 148,775 PpEe 24
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Association (Greenwlch) Notes to the Flnancial Statements for the Year Ended 31 March 2024 15 Credltors: amounts falling due wlthln one year 2Q24 2023 Trade credltor5 other taxatlon and soclal securlty Other credltors Accruals 1,071 3,809 10,772 1,407 8,623 204 15,988 9,898 16 Penslon and other schemes Deflned contrlbutlon penslon scheme The charity operates a defSned contrlbution penslon scheme. The pension cost charge for the year represents contrlbutlons payable by the charlty to the scheme and amounted to £5,96112023- £6,382}. Page 25
Clockhouse and New Charlton Communlty Centre formerly known as Clotkhouse Community Centre Association (Greenwich) Notes to the Financlal Statements for the Year Ended 31 March 2024 17 Funds Current perlod Balance at 31 March 2024 Balance at I April 2023 Incomlng resources Re50urce5 expended Transfers Unrestrlcted General General Funds 57,191 356,167 1307,6511 16,2771 99,430 Deslgnoted Bulldlngs refurblshment fund Contlngecy & equlpment fund 33,155 91,358 24,663 118,386} 6,277 57,818 72,972 124,513 130,790 Total unrestrlcted 181,704 356,167 1307,6511 230,220 Restrlcted Royal BorouEh of Greenwlch The Tree Oak Trust Greenwich Nelghbourhood Growth Fund 30,000 5,000 {22,000} 8,000 5,000 44,200 114,6081 {36,6081 29,592 79,200 42,592 Total funds 181,704 435,367 1344,2591 272,812 Page 26
Clockhouse and New Charlton Community Centre formerly known as Clockhouse Community Centre Assoclatlon (Greenwich) Notes to the Flnancial Statements for the Year Ended 31 March 2024 Prevlous perlod Balance at I April 2022 Incomlng resources Resourtes expended Balance at 31 March 2023 Unrestrlrted General General Funds 88,818 212,474 1244,1011 57,191 Deslgnoted Buildings refurbishment fund Contingecy & equlpment fund 33,155 91,358 33,155 91,358 124,513 124,513 Total unrestrlcted 213,331 212,474 1244,1011 181,704 Restrlcted The Mercers Company Royal Borough of Greenwlch Greenwlch Nelghbourhood Growth Fund 35,000 45,000 135,0001 145,0001 1,000 11,000) 1,000 80,000 181,0001 Total funds 214,331 292,474 1325,1011 181,704 The speclflc purposes for whlch the funds are to be applled are as follows: Royal Borough of Greenwlch funds 5UPPOrtlng the prov151on of ¢ommunlty hubs that effectlvely engage wlth the re15dends of the nelghbourhood and that work In partnershlp to better respond to the needs of local resldends that they are set up to serve. The Tree Oak Trust- funds to support communlty trlps. Greenwlch Nelghbourhood Growth Fund funds recelved from Royal Borough of Greenwlch as part of the Grenwlch Nelghbourhood Growth Fund to replace old kltchen equlpment In the cafe and make bulldlng Improvements at New Charlton Communlty Centre Assoclatlon. Page 27
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Communlty Centre Assoclation {Greenwich) Notes to the Flnancial Statements for the Year Ended 31 March 2024 18 Analysis of net asset5 between funds Current perlod Total funds at 31 March 2024 Unrestrl¢ted funds General Deslgnated Re5trlcted funds Tanglble fixed assets Current assets 20,013 95,405 115,9881 20,013 268,787 115,9881 130,790 42,592 Current Ilabillties Total net assets 99,430 130,790 42.592 272,812 Prevlous perlod Total funds 8t 31 March 2023 Unre5trlcted funds General Deslgnated Tanglble flxed assets Current assets Current Ilabllltles 25,946 41,142 19,8981 25,946 165,656 19,8981 124,514 Total net a55ets 57,190 124,514 181,704 Page 28
Clockhouse and New Charlton Communlty Centre formerly known as Clockhouse Community Centre Associatlon {Greenwlch) Notes to the Financlal Statements forthe Year Ended 31 March 2024 19 Related party transactlons Durlng the year the charlty made the followlng related party transactlons.. New Charlton Community Assoclatlon INCCA} Icombinatlon into one reporting entity) It was agreed by Deed of Tansfer, that NCCA wlll transfer It'5 assets and liabllities to Clockhouse Communlty Centre A550cclatlon (Greenwhlchl and they'll tomblne into one reporting entity a5 at 30 June 2023. Up to th15 date, Clockhouse recelved from NCCA £13,01112023., £39,211) contractual Income. The charlty also reglstered £21,963 rental Income and £17,073 expenses relating to NCCA. The malorlty of the NCCA bank balance5 and the lease- were formally asslgned to the Clockhouse on 30 June 2023. The £100,753 Is shown as a separate Ilne In donhtlons, wlth £76,568 beinE paid on 30 June 2023. At the balance sheet date the amount due from New Charlton Communlty Assoclatlon INCCAI was £24,18512023 - £NIII. This was transferred on 2 Aprll 2024. Page 29