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2021-12-31-accounts

Charity registration number 1074971

WEST LONDON COMMUNITY TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

WEST LONDON COMMUNITY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Sara Sinker
Ray Elliott
Vicky Read
Simon Richardson
Charity number 1074971
Independent examiner Summers Morgan
First Floor, Sheraton House
Lower Road
Chorleywood
Hertfordshire
WD3 5LH
Bankers Lloyds TSB Bank plc
45 The Broadway
Ealing
London
W5 5JU
Solicitors EDC Lord & Co
Link House
1200 Uxbridge Road
Hayes
Middlesex
UB4 8JD

WEST LONDON COMMUNITY TRUST

CONTENTS

Page
Trustees' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5
Notes to the financial statements 6 - 14

WEST LONDON COMMUNITY TRUST

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their annual report and financial statements for the year ended 31 December 2021.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Charity's declaration of trust, the Charities Act 2011 and “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 2019)”

Objectives and activities

Our charitable objects are to advance, encourage and promote the practice and general awareness of Christianity amongst members of the public in the Greater London Boroughs of Ealing and Hounslow.

The policies adopted in furtherance of these objects have been the purchase of housing for, and employment of Christian youth and children's workers, support for the New Wine Discipleship Year Hub for West London and support for Discipleship Year Students based at St Paul's Church, Ealing.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.

Achievements and performance

The trust's activities during the year have continued to be the support of Christian youth and children’s pastors and also the support, host and manage the West London New Wine Discipleship Year training hub.

The trust acts as the host for Ealing Besom, which receives donations of good quality second-hand furniture equipment and matches this with those in need in the local community. Referrals are received from the community, via Ealing Foodbank, Social Services and other community groups.

The work of the Christians Against Poverty (CAP) Ealing Debt Centre was able to restart in February 2021 following on from the employment of a new debt centre manager who was able to start supporting clients again after completing his initial training. The debt centre provides free debt centre counselling and advice to those in the community who are approaching or in financial difficulty with the aim of supporting clients back to a place of financial stability and being debt free. This work is done in association with the national CAP charity who provide support, training and advice to the local debt manager and the centre is based at Oaktree Church in Acton.

The trust expects to continue to work across these areas with no significant change in activities in the coming year.

Financial review

The financial transactions during the year and financial position at the end of the year are summarised in the attached accounts. Most of the trust's income for the year came from St Paul's Church Ealing and its members. The trustees consider that the financial position at the end of the year was satisfactory.

The trust held total funds at 31st December 2021 of £934,452 (2020: £906,858) of which £238,915 were unrestricted (2020: £200,715) and £695,537 (2020: £706,143) restricted. Of the unrestricted funds £238,915 (2020: £200,715) can only be realised by disposing of the freehold property and therefore under the Charities Commission definition, the trust has no free reserves at 31st December 2021 (2020: Nil). It is the policy of the trust that reserves be maintained at a level to maintain three to four months' average expenditure. The Charity's reserves position has decreased to a level that does not fully satisfy the reserves policy and the trustees, in conjunction with the PCC, are continuing to take steps to rectify this during 2022 and will also review the overall reserves policy in the light of the current operating conditions.

The trustees set a budget annually and monitor cash flow to ensure their liabilities can be met. Consideration has been given to ways in which additional funds may be raised.

The trustees have reviewed the major risks facing the trust and are satisfied that all reasonable measures are in place to mitigate their effect. They intend to keep these matters under regular review.

WEST LONDON COMMUNITY TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

Plans for future periods

The trust expects to continue to run the New Wine Discipleship Year hub in association with New Wine and Besom Ealing and the CAP debt centre. In 2022, the trustees plan to review the current activities and explore other opportunities to providing support to those in our local community.

Structure, governance and management

The trust was established by a charitable trust deed on 26 June 1998. The trust objects are to promote the advancement and awareness of Christianity throughout West London and the London Boroughs of Ealing and Hounslow, in particular by providing assistance and support to young people, the elderly, ex offenders or others in conditions of hardship or distress as a result of social circumstances or disadvantage.

The trustees who served during the year were: Sara Sinker Ray Elliott Vicky Read Simon Richardson

The trustees receive no remuneration for their role and all are actively involved in the day to day management of the trust. The appointment of trustees is carried out in consultation with the PCC of St Paul's Church Ealing.

The trust's affairs are conducted by the trustees in conjunction with other staff and members of St Paul's Church Ealing.

Restricted Funds

Freehold Property Nightingale Road, 16 Studley Grange Road, 114 Studley Grange Road and 7 Rosedale Close funds were used for the purchase and maintenance of the named properties, within each fund, to provide housing for workers of the trust, other local Christian workers, volunteers and young people.

Prison Ministry fund is used for the work of the Community chaplaincy within Wormwood Scrubs prison.

The Besom fund was used for the Besom Ealing Hub which receives donations of good quality second-hand furniture and equipment and redistributes this to those in need, who have been referred by the community services such as Foodbank.

CAP Ealing Debt Centre fund is used to employ a part-time manager to provide free debt counselling services to those already in debt or in danger of falling into debt. The debt centre was originally set up by a several churches across Ealing following on from the ‘Soul in Ealing/Love Ealing’ initiatives several years ago but had no host organisation and was adopted into the Trust as a restricted fund. On a day to day basis the management of the centre is overseen by a small committee of local church leaders and by the national CAP charity.

The trustees' report was approved by the Board of Trustees.

Vicky Read Trustee

17 October 2022

WEST LONDON COMMUNITY TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF WEST LONDON COMMUNITY TRUST

I report to the trustees on my examination of the financial statements of West London Community Trust (the trust) for the year ended 31 December 2021.

Responsibilities and basis of report

As the trustees of the trust you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the trust’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Nicholas Corden ACA (Senior Statutory Auditor) Summers Morgan

First Floor, Sheraton House Lower Road Chorleywood Hertfordshire WD3 5LH

Dated: 17 October 2022

WEST LONDON COMMUNITY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£		 Total
Unrestricted
Restricted
Total		 Total
Unrestricted
Restricted
Total		 Total
Unrestricted
Restricted
Total		 Total
Unrestricted
Restricted
Total
funds funds funds funds
as restated
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
Income and endowments from:
Donations and legacies 994 72,834 73,828 1,051 74,034 75,085
Charitable activities
2		 16,205 20,450 36,655 17,750 9,180 26,930
Other income
3		 27,099 - 27,099 34,393 - 34,393
Total income 44,298 93,284 137,582 53,194 83,214 136,408
Expenditure on:
Charitable activities
4		 41,656 68,332 109,988 59,612 37,564 97,176
Net incoming resources
before transfers		 27,594
2,642 24,952 (6,418) 45,650 39,232
Gross transfers between
funds
Net income/(expenditure) for
the year/		 35,558
38,200		 17,118
(35,558) - (17,118) -
Net movement in funds (10,606) 27,594 10,700 28,532 39,232
Fund balances at 1 January
2021
As originally reported 200,715 706,143 906,858 190,015 552,851 742,866
Prior year adjustment - - - - 124,760 124,760
As restated 200,715 706,143 906,858 190,015 677,611 867,626
Fund balances at 31
December 2021
238,915 695,537 934,452 200,715 706,143 906,858

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

WEST LONDON COMMUNITY TRUST

BALANCE SHEET

AS AT 31 DECEMBER 2021

Notes 2021 2021 2020
as restated
£
£
1,371,441
844
62,320
63,164
(33,324)
29,840
1,401,281
(494,423)
906,858
706,143
200,715
906,858		 2020
as restated
£
£
1,371,441
844
62,320
63,164
(33,324)
29,840
1,401,281
(494,423)
906,858
706,143
200,715
906,858
£ £ £
Fixed assets
Tangible assets
9
Current assets		 886
61,266
62,152
(25,815)		 1,357,929
36,337
1,394,266
(459,814)
934,452
695,537
238,915
934,452		 844
62,320
63,164
(33,324)
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
13
Net assets
(494,423)
906,858
706,143
200,715
906,858
Income funds
Restricted funds
14
Unrestricted funds

The financial statements were approved by the Trustees on 17 October 2022

Vicky Read Trustee

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

Company information

West London Community Trust is an unincorporated Charity registered with the Charity commission in England and Wales (number 1074971); its principle address is 4a Ridley Avenue, London, W13 9XW.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's declaration of trust, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.

The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Incoming resources

Donations are credited in the accounts when they are received. Income tax recoverable on Gift Aid donations is credited at the same time as the related donation.

1.5 Resources expended

Expenditure is recognised in the accounts at the time when a liability to make payment is incurred.

1.6 Tangible fixed assets

Tangible fixed assets other than freehold land are stated at cost less depreciation.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings 2% per annum on cost of buildings Plant and machinery 25% per annum on net book value

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

1 Accounting policies

(Continued)

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

1.9 Prior period adjustment

In prior years, the charity's policy has been to charge depreciation at 2% on the full cost of land and buildings. In order to align the depreciation policy more closely with standard accounting practice, the trustees have changed the policy to charge deprecation only on the buildings element of the cost of freehold property and not on the land. Prior period accounts have been restated to reflect this change.

2 Charitable activities

Unrestricted
funds
Restricted
funds
2021
2021
£
£
Discipleship year
income
16,205
-
Christians against
poverty income
-
20,450
16,205
20,450		 Unrestricted
funds
Restricted
funds
2021
2021
£
£
Discipleship year
income
16,205
-
Christians against
poverty income
-
20,450
16,205
20,450		 Unrestricted
funds
Restricted
funds
2021
2021
£
£
Discipleship year
income
16,205
-
Christians against
poverty income
-
20,450
16,205
20,450		 Total
2021
Unrestricted
funds
Restricted
funds		 Total
2021
Unrestricted
funds
Restricted
funds		 Total
2021
Unrestricted
funds
Restricted
funds		 Total
2020
2021 2021 2020 2020
£ £ £ £ £ £
16,205 - 16,205 17,750 - 17,750
- 20,450 20,450 - 9,180 9,180
16,205 20,450 36,655 17,750 9,180 26,930
Analysis by fund
Unrestricted funds 16,205 - 16,205 17,750 - 17,750
Restricted funds - 20,450 20,450 - 9,180 9,180
16,205 20,450 36,655 17,750 9,180 26,930

3 Other income

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Rental income 27,099 34,393

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities

Discipleship
Year
2021
£		 Discipleship
Year
2021
£		 Prison
Ministry
The Besom
St Pauls
Ealing		 Prison
Ministry
The Besom
St Pauls
Ealing		 Prison
Ministry
The Besom
St Pauls
Ealing		 CAP Total
2021		 Total
2020
2021 2021 2021 2021 2021
£ £ £ £ £ £ £
Staff costs 3,346 - - - 10,220 13,566 7,590
Depreciation
and
impairment
- - - 15,258 - 15,258 15,067
Direct costs 4,785 1,157 1,007 15,181 5,904 28,034 18,176
Grant funding
of activities
(see note 5)
8,131 1,157 1,007 30,439 16,124 56,858 40,833
- - - 30,433 - 30,433 33,416
Share of
support costs
(see note 6)
2,943 1,891 421 15,762 - 21,017 21,487
Share of
governance
costs (see
note 6)
235 151 34 1,260 - 1,680 1,440
Analysis
by fund
Unrestricted
funds
11,309 3,199 1,462 77,894 16,124 109,988 97,176
8,659 339 76 32,442 140 41,656 59,612
Restricted
funds
2,650 2,860 1,386 45,452 15,984 68,332 37,564
11,309 3,199 1,462 77,894 16,124 109,988 97,176

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

4 Charitable activities (Continued)
For the year ended 31 December 2020
Discipleship
Year
Prison
Ministry
The Besom
St Pauls
Ealing
£
£
£
£
Staff costs
5,746
1,844
-
-
Depreciation and
impairment
-
-
-
15,067
Direct costs
5,858
350
177
11,424
11,604
2,194
177
26,491
Grant funding of activities
(see note 5)
-
-
-
33,416
Share of support costs (see
note 6)
3,008
1,934
430
16,115
Share of governance costs
(see note 6)
201
130
29
1,080
14,813
4,258
636
77,102
Analysis by fund
Unrestricted funds
12,098
319
71
47,124
Restricted funds
2,715
3,939
565
29,978
14,813
4,258
636
77,102		 Discipleship
Year
Prison
Ministry
The Besom
St Pauls
Ealing
£
£
£
£
Staff costs
5,746
1,844
-
-
Depreciation and
impairment
-
-
-
15,067
Direct costs
5,858
350
177
11,424
11,604
2,194
177
26,491
Grant funding of activities
(see note 5)
-
-
-
33,416
Share of support costs (see
note 6)
3,008
1,934
430
16,115
Share of governance costs
(see note 6)
201
130
29
1,080
14,813
4,258
636
77,102
Analysis by fund
Unrestricted funds
12,098
319
71
47,124
Restricted funds
2,715
3,939
565
29,978
14,813
4,258
636
77,102		 Discipleship
Year
Prison
Ministry
The Besom
St Pauls
Ealing
£
£
£
£
Staff costs
5,746
1,844
-
-
Depreciation and
impairment
-
-
-
15,067
Direct costs
5,858
350
177
11,424
11,604
2,194
177
26,491
Grant funding of activities
(see note 5)
-
-
-
33,416
Share of support costs (see
note 6)
3,008
1,934
430
16,115
Share of governance costs
(see note 6)
201
130
29
1,080
14,813
4,258
636
77,102
Analysis by fund
Unrestricted funds
12,098
319
71
47,124
Restricted funds
2,715
3,939
565
29,978
14,813
4,258
636
77,102		 Discipleship
Year
Prison
Ministry
The Besom
St Pauls
Ealing
£
£
£
£
Staff costs
5,746
1,844
-
-
Depreciation and
impairment
-
-
-
15,067
Direct costs
5,858
350
177
11,424
11,604
2,194
177
26,491
Grant funding of activities
(see note 5)
-
-
-
33,416
Share of support costs (see
note 6)
3,008
1,934
430
16,115
Share of governance costs
(see note 6)
201
130
29
1,080
14,813
4,258
636
77,102
Analysis by fund
Unrestricted funds
12,098
319
71
47,124
Restricted funds
2,715
3,939
565
29,978
14,813
4,258
636
77,102		 Discipleship
Year
Prison
Ministry
The Besom
St Pauls
Ealing
£
£
£
£
Staff costs
5,746
1,844
-
-
Depreciation and
impairment
-
-
-
15,067
Direct costs
5,858
350
177
11,424
11,604
2,194
177
26,491
Grant funding of activities
(see note 5)
-
-
-
33,416
Share of support costs (see
note 6)
3,008
1,934
430
16,115
Share of governance costs
(see note 6)
201
130
29
1,080
14,813
4,258
636
77,102
Analysis by fund
Unrestricted funds
12,098
319
71
47,124
Restricted funds
2,715
3,939
565
29,978
14,813
4,258
636
77,102		 CAP Total
2020
£ £ £ £ £ £
5,746 1,844 - - - 7,590
- - - 15,067 - 15,067
5,858 350 177 11,424 367 18,176
11,604 2,194 177 26,491 367 40,833
- - - 33,416 - 33,416
3,008 1,934 430 16,115 - 21,487
201 130 29 1,080 - 1,440
14,813 4,258 636 77,102 367 97,176
12,098 319 71 47,124 - 59,612
2,715 3,939 565 29,978 367 37,564
14,813 4,258 636 77,102 367 97,176
5
Grants payable
Grants to institutions:
St Pauls Ealing Church
Total Total
2021 2020
£ £
30,433 33,416

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2021

6 Support costs

Support costs Support costs Support costs
Support
costs
Governance
costs
£
£		 2021
Support costs
Governance
costs		 2020
£ £ £ £ £ £
Premises expenses 2,090 - 2,090 2,096 - 2,096
Administrative expenses 18,927 - 18,927 19,391 - 19,391
Independent examination
fees
- 1,680 1,680 - 1,440 1,440
21,017 1,680 22,697 21,487 1,440 22,927

Unless support and governance costs relate directly to a specific charitable activity, they are allocated pro rata as a proportion of relative income. This is currently 14% to Discipleship Year, 9% to Prison Ministry, 2% to The Besom and 75% to St Pauls Ealing.

Governance costs includes payments to the Independent examiner of £1,680 (2020 - £1,460) for Independent Examination and accountancy fees.

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or reimbursement of expenses during the year.

8 Employees

Number of employees

The average monthly number of employees during the year was:

Number of employees
The average monthly number of employees during the year was:		 Number of employees
The average monthly number of employees during the year was:		 Number of employees
The average monthly number of employees during the year was:
2021
2020
Number
Number
DY students and Pastoral support 2 1
Employment costs 2021 2020
£ £
Wages and salaries 13,261 7,566
Other pension costs 305 24
13,566 7,590

There were no employees whose annual remuneration was £60,000 or more.

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

9
Tangible fixed assets
Cost
At 1 January 2021
Additions
At 31 December 2021
Depreciation and impairment
At 1 January 2021 (restated)
Depreciation charged in the year
At 31 December 2021
Carrying amount
At 31 December 2021
At 31 December 2020 (restated)
10
Debtors
Amounts falling due within one year:
Prepayments and accrued income		 Land and
buildings		 Plant and
machinery		 Total
£ £ £
1,513,333 1,269 1,514,602
1,745 - 1,745
1,515,078 1,269 1,516,347
141,931 1,229 143,160
15,248 10 15,258
157,179 1,239 158,418
1,357,899 30 1,357,929
1,371,401 40 1,371,441
2021 2020
£ £
886 844
11
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year		 2021 2020
£ £
476,061 511,619
16,247 17,196
459,814 494,423

A Mortgage was obtained in October 2008 from Kingdom Bank Limited to assist in the purchase of 16 Studley Grange Road, London which cost £319,000 freehold. This is a capital repayment loan, repayable over 20 years at a rate of 2.5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2021 was £37,104.79.

A Mortgage was obtained in May 2013 from Kingdom Bank Limited to assist in the purchase of 114 Studley Grange Road, London which cost £386,000 freehold. This is a capital repayment loan, repayable over 29 years and 5 months at a rate of 5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2021 was £25,414.42.

A Mortgage was obtained in November 2015 from Kingdom Bank Limited to assist in the purchase of 7 Rosedale Close, London which cost £515,000 freehold. This is a capital repayment loan, repayable over 30 years at a rate of 3.5% over the Kingdom Bank Limited base rate. The amount outstanding at 31st December 2021 was £413,541.47.

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

12
Creditors: amounts falling due within one year
Notes
Bank loans
11
Other taxation and social security
Other creditors
Accruals and deferred income
13
Creditors: amounts falling due after more than one year
Notes
Bank loans
11		 2021 2020
£ £
16,247 17,196
140 -
2,988 2,988
6,440 13,140
25,815 33,324
2021 2020
£ £
459,814 494,423

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at 1
January 2020
(restated)
r
£		 Balance at 1
January 2020
(restated)
r
£		 Movement in funds Movement in funds Movement in funds Movement in funds
Incoming
esources
Resources
expended		 Transfers
Balance at 1
January 2021
(restated)
r		 Incoming
esources
Resources
expended		 Transfers
Balance at
31 December
2021
£ £ £ £ £ £ £ £ £
2,202
5,785
518
7,433
32,701
1,542
33,032
83,213		 3,302
5,705
-
10,734
51,479
1,615
20,450
93,285
For Freehold Property Nightingale Road 201,578 (4,606) - 199,174 (5,707) - 196,769
For Freehold Property 16 Studley Grange
Road
217,940 (7,804) (1,204) 214,718 (7,946) (1,104) 211,373
For Prison Ministry 10,010 (2,194) - 8,334 (1,157) - 7,177
For Freehold Property 114 Studley Grange
Road
217,387 (7,407) (3,935) 213,478 (9,524) (3,438) 211,250
For Freehold Property 7 Rosedale Close 22,784 (15,009) (11,979) 28,497 (25,988) (31,016) 22,972
For Besom 7,911 (178) - 9,275 (2,027) - 8,863
For Christians against poverty - (365) - 32,667 (15,984) - 37,133
677,611 (37,563) (17,118) 706,143 (68,333) (35,558) 695,537

Prison Ministry - for the work of the Community Chaplaincy at Wormwood Scrubbs.

Besom - a project which enables us to serve those in need through the donation and delivery of furniture, white goods and other items and through projects such as painting and gardening.

Freehold properties Nightingale Road, 16 & 114 Studley Grange Road and 7 Rosedale Close - to provide affordable housing to support Christian workers and young adults within Ealing.

Christians against poverty - used to employ a part time manager to provide free debt counselling services to those already in debt or in danger of falling into debt

Transfers between funds represent the capital element of the mortgage repayments made in the year being transferred to Unrestricted funds to ensure the Restricted fund balances for the properties held within Restricted funds do not become inflated as a result.

WEST LONDON COMMUNITY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021

15
Analysis of net assets between funds		 15
Analysis of net assets between funds		 15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2021
2021
£
£
Fund balances at 31
December 2021 are
represented by:
Tangible assets
715,565
642,364
Current assets/(liabilities)
(16,836)
53,173
Long term liabilities
(459,814)
-
238,915
695,537		 Total
Unrestricted
funds		 Restricted
funds		 Total
2021 2021 2021 2020 2020 2020
£ £ £ £ £ £
715,565 642,364 1,357,929 715,574 655,867 1,371,441
(16,836) 53,173 36,337 (20,436) 50,276 29,840
(459,814) - (459,814) (494,423) - (494,423)
238,915 695,537 934,452 200,715 706,143 906,858

16 Related party transactions

The Charity is dependent upon the PCC of St Paul's Ealing for the majority of its funding. The Charity received donations of £71,794 in the year from St Paul's (2020 - £48,120). There were no balances outstanding between the charities at the year-end (2020 - £NIL). St Paul's also acts as a guarantor for the mortgage held over 16 Studley Grange Road, 114 Studley Grange Road and 7 Rosedale Close.

17 Prior period adjustment

Changes to the balance sheet

Changes to the balance sheet Changes to the balance sheet Changes to the balance sheet Changes to the balance sheet
At 31 December 2020
As previously
reported
Adjustment
As restated
£
£
£
£ £ £
Fixed assets
Tangible assets
Capital funds
Income funds		 1,231,468 139,973 1,371,441
Restricted funds 566,170 139,973 706,143
Unrestricted funds 200,715 - 200,715
Total equity
766,885 139,973 906,858
Changes to the profit and loss account
Period ended