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

Ln
O Ln
LK¢ N to
orrifft

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