Registered Company Number". 3521640 Registered Charity Number= 1077333 SYDFI Sydenham Neighbourhood Initiatives Ltd Annual Report & Unaudited Financial Statements illlllllll ADFcGo* 07111r2024 COMPANIES HOUSE A27
CoNtonts Page Company Information Trustees, Annual Report {incl Directors, Report) Independent Examiner's Report 10 Statement of Financial Activities 11 Balance Sheet 12-20 Notes to the Finance Statements
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2024 Trustees: David Rawcliffe (Chairl Jerome Tucker (Treasurer) Kay Bugg Jojo Norris Iresigned l August 20231 Bernard Davies Robert Zara Will Roberts Krishan Bhardwaj Vareena Jones lappointed 25 July 2023) Company Number: 3521640 Charity Number: 1077333 Company Secretary: Mary Briggs (resigned 11 March 2024} Robert Zara lappointed 28 November 2023) Registered Office & Charity Address: SYDNI Centre Cottage Square Sydenham Leamington Spa Warwickshire CV31 IPT Bankers: HSBC Bank plc Virgin Money The Co-operative Bank Close Brothers Savings Independent Examiner: Mark Harwood FCA BFP FMAAT Michael Harwood & Co Greville House 10 Jury Street Warwick CV34 4EW
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT (INCL DIREcfoRS' REPORTI FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and the financial statements of the charity for the year ended 31, March 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORP) "Accou nting and Reporting by Charities" in preparing the annual report and f inancial statements of the charity. OBJEcfivES SYONI'S objectives in the period under review were to promote the benefit of the inhabitants of Leamington Spa's Sydenham area without distinction of age, sex, sexual orientation, race, disability or of political or religious or other opinions. We aim to dothis by unitin8 local people. the localcommunity, voluntary and otherorganisations in a common effort to advance education and vocational training, improve individual and group wellbeing, promote ernpowerment and to provide facilities in the interests of social welfare for recreation and leisure in order to improve the conditions of life for the local people. We are a community-ba5ed venture, initially inspired and run by volunteers, and now led by a fijll-time Manager and their staff. But we still depend on volunteersl We work in partnership with a mix of voluntary and statutory organisations and private businesses to improve the quality of life on the Sydenham, a relativelv deprived and mu Iti-cultu ral housing estate on the outskirts of Leamington Spa. STRucfuRE, GOVERNANCE & MANAGEMENT th SYDNI was established on 4 March 1998 as a Company Limited by Guarantee. under the name of Sydenham th Community Project Limited. Following an Extraordinary General Meeting on 30 June 1999, the companv changed its name to Sydenham Neighbourhood Initiatives Limited on 21, July 1999. The Company and the Project it promotes 15 known locally as the SYDNI Centre. The Company was re815tered 05 a Charity on 8 th September 1999. SYON l is run in accordance with its Articles of Association and Memorandum of Association. The Articles state that the Board ofTrustees Iwho are also the Directors of the Company) shall be not less than five and not more than eleven. One third of the Trustees retire by rotation at the Annual General Meeting. The Trustees who retire are those that have been longest in off ice since their last election or appointment. A retiring Trustee is eligible for re-election. SYDNI may have up to 11 Trustees and we actively welcome members of the Sydenharn community tojoin the Board. The Board meet5 regularly every 2 months, to look ahead and plan strategically for the future needs of the area, to review SYDNI finances and expenditure, and to ensure the charitv Is meeting its aims and objectives. No Trustee had any financial interest in the company at any time during the period. When new Trustees are required, the opportunity to join the SYDNI board is advertised and expressions of interest invited. Others with particular skills may be invited to join. Such persons who wish to pursue their interest further are then asked to participate in some way in the on.going activities of SYDNI, including where appropriate attending meetings of the Trustees as an obseNer. If this period of familiarisation is mutually succe55ful, the potential trustee 15 formally appointed to the board.
SYDENHAM NEIGH80URHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT (INCL DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The list of Trustees who have served during the year can be found on page l. We meet as trustee5 every two months - this is all of u5 at our last trustee meeting. The day-to-day responsibility for the running of SYDNI in this financial year was delegated to the SYDN I Centre Manager supported by the Wellbeing Off icer Ipltl, Cafe Manager, Café Assistant Ip/tl, Finance and Data Administrator Ip/tl, two Office Administrators If/tl, a Volunteer Coordinator Ip/tl and by many willing volunteers. PUBLIC BENEFIT The Trustees have complied with their duty to have due regard to the guidance on pu blic benefit published by the Charity Commission in exercising their powers and duties. Exam ples of this public benefit can be found in the other parts of this Report. The Charity constitutes a public benefit entity as defined by FRS 102. ACHIEVEMENTS AND PERFORMANCE Our vision is to be a thriving community centre that enables local residents to reach their potential and take pride in where they live. to be at the heart of the community as a voice; listening to and empowering local people.
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT {INCL DIRECTORS, REPORTI FOR THE YEAR ENDED 31 MARCH 2024 Our mission is to bring out the best in each person and the community through promoting cohesion and a sense of community spirit. Through the SYDNI Centre in particular, we enable local people to access facilities, resources and support in social activity, Sl8np05ting, sport and education. Although the coronavirus pandemic is now fading into history. we are still feeling its effects in terms of changed patterns of usage and the evolving needs of our commu nity, especially as the sharp rises in the cost of livin8 started and continue to bite. We have worked hard to ensure that SYDNI'S core services continue to be available to local people and that we respond effectively to their chan8in8 needs. We thank Mary Briggs for her great service as company secretary and we were delighted when Robert Zara offered to take on the role. Our centre manager Helen Jones, who we appointed last year is now well established in her role and has overseen a number of changes to the structure and personnel of her team. We created a new role of Wellbein8 Officer and were delighted to appoint Helen Wilkinson to the new position. We bade farewell to Ann Jone5, to whom we are very grateful for keepin8 our finance5 in good order for so long. We wish her a very happy retirement. We welcomed Nowshin Chowdhury as her replacement. We welcomed Ahamira Sheik as an administrator and both have already had a very positive impact. SYDNI would not function without the time and effort of many volunteers to all of whom we would like to extend enormous gratitude. All of whom have made an invaluable contribution to the local community and to SYONI and we cannot thank them enough. O.IS ,{zx -&sthty&J" kd 4J Some of our staff and volunteers in f ront of the café.
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED
TRUSTEES, ANNUAL REPORT (INCL DIRECTORS, REPORTI
FOR THE YEAR ENDED 31 MARCH 2024
A particu lar note of appreciation to..
Our Staff and Volunteer team for working together to offer sUPPOrt and guidance to those in need.
Our greengrocer, Chris from A&R for going to the Birmingham Ve8 Market every single week and
ensuring that we were able to provide people with the food that they needed.
All of the local M utual Aid and local volunteers who have 5UPPOrted us with delivering supplies and
food.
The room hirers that have continued to run their activities when able to and worked with us to ensure
the safety of those attending.
All the people who enjoy coming to the cafe for a wholesome meal
The centre has continued its recovery from the Covid hit to our room hire and cafe income. We have
substantially improved our social media presence and, on a trial basis, joined the Chamber of Commerce to
raise ou r profile a nd increase awareness of the services we offer.
We have maintained a very full schedule.
Monday
Fvn 8 DanctFitiitsi 50•
9JO. J0 Éfj
SYDNI Gar4Yenln9 Club
iom.izoo
P8iMlnson's Ph
lQ45- IZIS
Inltl¥l phy510 eSsment i•quked. ple•5e<¢)nL5FK•rrfn
InorMa0ph¢0rn
SYONI T•bl• T•nn
IAKI- 4.Th) Q don•tlon
SYONI Eld•r6Apn4 Grou
zoo. 4no. r4 don•tlon
I Sydenham 8e3vers & Cubs 6JO. 8.0)
151 Sydenham Scouts
630. 8X
EWF Karate
4.00-&
Thursday
UpdAt•d2V8124
Turnlng PrtIW•11b¢1tyd Hub )O,00- 1100
S•hll Wellbèin9 Sessions
10.00.ZC(. FREE
Employmertf 0p-In
i.00-ioo
SYDNI Gukl¥d M8dlt•¢lon
7.45- 2)) C ¢Yon•uon
SYDNI Yoq•
IZ30.130 E2 don•r
Football Club
s.1.
SYDNI Youth Club
&00. 7Ja l3-$ ¢)kl FREE
Frfday
SYDNI IT in
930. 11.00 FREE
Tu•sday
Toddler rne
5YDNI Muslt for d•mentla
ruesday olthe monih
SYDNI Food Hvb
12nd 8 4th Tuesdayol monthl
Frt• F¢xd Tibl• lthtywwkj
SYONI Art lor Wellbelng
SVONI Chalr Ex•rc4se
Xumon Engftshand M•ths
Gannon'• l)oJo
BodiGIts
ILEAP Di•mJ Workjhops
9JO. 11.tr) Pl•ox txxsk
)O.CA). 12.OOE2 sJonaLion
SYDNI En9ltsh lor Llf• IIKIO. IZJO FREE
SYDNI 8lng0
IOM. IM. a.601tsxkz 6 9ame5
Slnglrtg lor Wellbèlng
IX)O. ZCAI FREE
Slnging Parklnsons
215- Ils
Kumon Engllsh •rt
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT (INCL DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Community Veg Bag Scheme we introduced in lockdown rernains very popular and we continue to deliver between 50 and 60 bags a week- with new customers arriving all the time, FINANCIAL REVIEW SYDNI received several generous grants during the year 202312024. These were from The Lottery Communitv Fund, Garfield Weston and the 29th May 1961 Charity. Because of these grants we were able to turn a deficit of £13.Ik last year into a surplus of £13.5k. These grants were in addition to the support we receive from Warwick District Council. Other support was received from The Police and Crime Commissioner for salaries for youth workers for the youth club. For a full list of the organisations who contribute to the success of SYDNI see section 2 Donations and Grant incorne in the report. It is good news that cafe income has increased from £46.Sk in 202212023 to £58k this year. However, room hire income has decreased by £6k to £56.6k this year. It 15 hoped that this drop in income can be addressed by improving the meeting rooms to make them more welcoming and by increasin8 the room hire charges. th The 29 May1961 Charitable Trust Garfield Weston COMMUNITY FUND FOUNDATION Ollle• •llh• Pollce and Crlme CommS$sionèr lor W•rwklL•hlr• .VARWICK 1)15TIiIC-I- (=OUNCI I. WoTh¥i¢kiN Royal Leamington Spa Town Council Our thanks to all the organisations who sUPPOrted SYDNI during the year. An advertisin8 and marketing initiative has been successful over the last year and this will be continued for this financial year to increase income from all sources. Unrestricted fund5 at the year end stood at £ 131,483 down from £134,547 in the previous year. We remain committed to rnaintaininE high reserves in order to manage financial risks of reduced income and increased overheads. Further details of unrestricted funds are shown under Note 14.
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT (INCL DIRECTORS, REPORTI FOR THE YEAR ENDED 31 MARCH 2024 RESERVES POLICY The Trustees keep under review the requirement for free reserves which are those unrestricted funds not invested in fixed assets. The Trustees consider that, given the natu re of our Charity's activitie5, a prudent level of free and unrestricted reserves is represented by a sum equ ivalent to the next 12 months buijgeted operating costs. In reaching this view, the Trustees are mindfu l of their responsibilities towards the Charity's employees, and the period that is normally required to prepare. submit and obtain consideration of bids to funding agencies. The Trustees have concluded that the minimum sum required to be held as Unrestricted Reserves to implement this policy is in the region of £IOO,000 but recent experience has shown that unforeseen and unbudgeted occurrences, external or otherwise, can easily impose substantial financial demands over and above the normal level of annual operatin8 COSts. The Trustees review the major risks faced by the Charity on a regular basi5 and believe that, takin8 into account the difficult economic conditions prevailing, the level of unrestricted reseNes stated above should be maintained and steadily increased, if possible, in order to have sufficient resources to cope with likelv continu ing adverse conditions. RISK MANAGEMENT The predominant risks faced by the Charity are.. The unreliability of 8rant5 available for community groups land most particu larly, to fund core costs includin8 Staff needed to run activities and support the Centre Managerl. A decline in usage of the Centre Iroom hirel. Local authority cuts causing reduced income from room hire and catering. Staff capacity.. with few staff employed, the loss of any member through any reason is a severe cause of disruption to normal operations. A shortage of volunteers. Steps have been taken to mitigate against these and other risks which are kept under regular review by the Trustees. INVESTMENT POLICY The investment policy of the Trustees is to protect all sums held by prudent investment. Consequentlyi investment funds are held on deposit with the Charity's bankers whose rates are kept under review. STATEMENT OF TRUSTEES. RESPONSIBILITIES Company Law and Charity Law require the trustees to prepare financial statements for each financial year, which give true and fair view of the state of affairs of Sydenham Neighbourhood Initiatives Limited a nd of the surplus or def icit for that period. In preparing those f inancial statements. the trustees are required to: select su itable accounting policies and then apply them consistently observe the methods and principles in the Charities SORP make judgement5 and estimates that are reasonable and prudent
SYDENHAM NEIGH8OURHOOD INITIATIVES LIMITED TRUSTEES, ANNUAL REPORT (INCL DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements, and Prepare the financial statements on the going concern basis unless it is inappropriate that the charity will continue in operation. The trustees are also responsible for keepin8 proper accountin8 records which disclose with reasonable accuracy at any time the financial position of Sydenham Neighbourhood I nitiatives Limited and to enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are responsible for ensuring that the company maintains a n adequate system of internal control designed to provide reasonable assurance that assets are safeguarded against material loss or unauthorised use to prevent and detect fraud and other irregularities. This report has been prepared in accordance with the Statement of Recommended Prattice- Accounting and Reportin8 by Charities and in accordance with the special provisions of the Companies Act 2006 relating to small companies. 8y Order of the Board David Rawcliffe Trustee Dated: 12th October 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED (Limited by guaranteel FOR THE YEAR ENDED 31 MARCH 2024 I report on the accounts of the company for the year ended 31, March 2024 which are set out on pa8e5 9 to 19. Responsibilities and basis of report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respett of my examination of your company's account5 a5 carried out under section 145 of the Cha rities Act 20111'the 2011 Act'l. In carryin8 Out my examination I have followed the Directions given by the Charity Commission under section 1451511 bl of the 2011 Act. Independent examlner's statement Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the I nstitute of Chartered Accountants in England and Wa les, which is one of the listed bodies. 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: accounting records were not kept in respect of the company as required by section 386 of the 2006 Act,. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of n independent examination,. or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charitie5 preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the U K and Republic of Ireland IFRS 1021. 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 accounts to be reached. Mark Harwood FCA 8FP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick CV34 4EW
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED STATEMENT OF FINANCIAL A1VITIEs (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 Note Unrestricted Restricted 2024 Total 2023 2023 Unrestrlcted Restricted 2023 Total Income from: Donations and grants 33.788 110,385 144,173 3,869 55,467 59,336 Charitable activities 134,802 134,802 124,912 124,912 Investments 3,252 3,252 1,302 1,302 Total Income 171,842 110,385 282.227 130,083 55,467 185,550 Expenditure on: Raisin8 funds Charitable activities 169,512 84.969 254,481 137,418 47,515 184,933 Other costs 7,665 6,860 14,525 7,407 6,337 13,744 Total Expenditure 177,177 91,829 269,006 144,825 53,852 198,677 Net income / {expenditurel 15,335) 18,556 13,221 {14,7421 1,615 113,1271 Transfers between funds 1,962 11,9621 Net movement in funds 13,3731 16,594 13,221 114,742} 1,615 113,1271 Total funds brought forward 134,547 1,047,866 1,182,413 149,289 1,046,2SI 1.195,540 Total funds carried forward 12 131,174 1,064,460 1.195,634 134,547 1,047,866 1,182,413 10
SYDENHAM NEIGHBOURHOQD INITIATIVES LIMITED {company no. 3521640} BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed Asset5 Tangible assets 1,022,249 1,025.976 Current Assets Stocks Debtors Cash at bank and in hand 1,677 33,368 150,489 1,663 9,877 163,386 185,534 174,926 Creditors Amounts falling due within one year io 112,149} 118,4891 Net Current Assets 173,385 156.437 . Total assets less Current liabilities 1,195,634 1,182,413 Net Assets 1,19S,634 1,182,413 Funds of the Charity Restricted Unrestricted 12 12 1,064,460 131.174 1,047,866 134.547 Total Charity Funds 1,195,634 1.182,413 Directors, statements.. The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Att with respect to accounting records and for the preparation of accounts. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. th The financial statements were approved by the Board of Trustees on............12 October 2024,....... Trustee CompanySecret•ry Dave Raw Zarn
SYDENHAM NEIGHBOURHOOO INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 l. Accounting Policies a) Basis of Preparation The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accou nts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2011. the Companies Act 2006 and UK Generally Accepted Accou nting Practice. The financial statements are prepared on a 80in8 concern basis under the historical cost convention, modified to include certain items at fair value. The f inancial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest £1. The significant accounting policies applied in the prepa ration of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. b) Company StatUS The charity is a company limited by guarantee in England & Wales. The members of the company are the trustees. In the event of the charity bein8 wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. c) Income All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. No amounts are included in the f inancial statements for services donated by volunteers. dl Government Grants Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that 5pecifie5 performance conditions is reco8ni5ed in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceed5 are received or receivable. A Brant received before the recognition criteria are satisfied is recognised as a liability. el Expenditure All expenditure is accounted for on an accruals basis and has been classified under headlngs that aggregate all costs related to the cate80ry. Support costs are allocated to particular charitable activities on a basis consistent with the use of the resources. f} Tangible Fixed Assets and Depreciation Because of the specialised nature and use of the property, the low proba bility of it being sold, and the charity's policy to maintain it in good condition, no depreciation is provided and the property is valued at cost, which they consider to be a fair value. 12
SYDENHAM NEIGHBOURHOOD INITIATIVE5 LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 fj Tangible Fixed Assets and Depreciation Icontinuedl Other tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows.. Equipment Fixtures and Fittings 25% Straight Line Basis IO% or 25% Straight Line Basis g) Stock Stock consists of purchased goods for resa le. Stock is valued at the lower of cost and net realisable value. h) Debtors and Creditors recelvable / payable within one year Debtors and cred itors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arisin8 f rom impairment are recognised in expenditure. il Pensions The company operates a defined contribution pension scheme. The assets of the Scheme are held separately from the company in an independently administered Fund. The pension cost charge represents contributions payable by the company to the fund. )} Taxation The charity is exempt f rom income tax and capital gains tax within the exemption 8ranted by sections 521 536 of the Income Taxes Act 2007. The charity has borne VAT on its expenditure where appropriate. k) Fund Accounting General fLJnds are unrestricted f unds wh ich are ava ilable for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Desi8nated funds comprise u nrestricted funds that h3ve been set aside by the trustees for particular purposes. The a im and use of each designated fund is Set out in the notes to the f inancial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 13
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITEO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Donations and Grant Income 2024 2024 Unrestricted Restricted 2024 Total 2023 2023 Unrestricted Restricted 2023 Total Individuals Warwick District Council Warwick County Council Leamington Town Council Asda Foundation The National Lottery Community Fund Leamington in 81oom The Police & Crime Commissioner co.op The Neighbourly Foundation UK Shared Prosperity Fund Leamin8ton Old Town Garfield Weston th 29 May 1961 Charitable A550C 3,788 776 30.000 2.294 200 950 20,000 4,564 30,000 2,294 200 950 20,000 3,869 618 27.000 8.385 1,764 4,487 27,000 8,385 1,764 17,500 200 17,500 200 11.665 500 500 43.000 500 11,665 500 500 43,000 500 15,000 15,000 15,000 15,000 33,788 110.385 144,173 3,869 55,467 59,336 Charitable Activities Income 2024 2024 Unrestricted Restricted 2024 Total 2023 2023 Unrestricted Restricted 2023 Total Catering Room hire Day Suite lease Hire income M iscellaneous 57,964 56,662 12,754 759 6,663 57.964 56,662 12,754 759 6,663 46.524 62.302 12,500 1.190 2.396 46,524 62,302 12.500 1,190 2,396 134,802 134,802 124,912 124.912 14
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charitable Activities Expenditure 2024 2024 Unrestricted Restricted 2024 Total 2023 2023 Unrestricted Restricted 2023 Total Staff costs Inote 61 Costs of good5 sold Other event/project costs Support costs Ibelowl 75,149 24,991 1,669 67,703 60,704 135,853 24,991 24,279 69,358 58,476 21,599 1,487 55,856 38,345 957 6,022 2,191 96,821 22,556 7,509 58,047 22,610 1,655 169,512 84.969 254,481 137.418 47,515 184,933 Support Costs Premises Repairs & renewals Admin 25,070 14,033 28,600 25,070 14,033 30,255 21.389 8,889 25.578 21,389 10,069 26,589 1,180 I,oii 1,655 67,703 1.65S 69,358 55.856 2,191 58,047 Other Costs 2024 2024 Unrestricted Restricted 2024 Total 2023 2023 Unrestricted Restrirted 2023 Total Independent Examiner's fees Depreciatior) Bank charges Bad debts 2,200 4,873 30S 287 2,200 11,733 305 287 2,100 5.036 271 2,100 11.373 271 6.860 6,337 7,665 6,860 14,525 7.407 6,337 13,744 Staff Costs 20Z4 2023 Staff costs during the year amounted to.. Salaries and wages Social security costs Pension costs 129,003 3,389 3,461 94,315 2,506 135,853 96,821 No employee received emolument5 over £60,000. The aver38e number of employees during the year was 812023- 71. 15
SYDENHAM NEIGH80URHOOO INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Directors No Directors / Trustees received any remuneration or expenses during the year. Tangible Fixed Assets Long Leasehold Buildings Equipment Fixtures & Fittings Total Cost At l April 2023 Adclitions Disposals 984,325 11,968 104,745 8,006 1,101,038 8,006 At 31 March 2024 984,325 11,968 112,751 1,109,044 Accumulated Depreclation At l April 2023 Charge for period Disposals 6.184 1.922 68,878 9,811 75,062 11,733 At 31 March 2024 8,106 78,689 86,795 Net 8ook Values At 31 March 2024 984,325 3,862 34,062 1,022,249 At 31 March 2023 984,325 5,784 35,867 1.025.976 Debtors 2024 Trade debtors Prepayments Other debtors 30,817 1,563 988 320 33,368 9,'877 16
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 io. Creditors: arnounts falling due within one year 2024 2023 Trade creditors Taxation and social security Other creditors Accruals 5.034 1.128 1,262 4.725 5,.204 3,088 6,348 3,849 12,149 18,489 11. Related Party Transactions The charity has an agreed policy that all trustees disclose any interest or offices they hold relating to applications for funding submitted by the charity, and a bstain from voting on those applications. In May 2023 Trustees Will Roberts and Ella 8illiald were elected as councillors of WaiCk District Council, who granted £30,000 to the charity during the year. 12. Movements on Funds Balance At Income In 01.04.23 Period Expenditure In Period Transfer5 In Period Balance At 31.03.24 Unrestricted funds: General Fund5 134,547 171,842 1177,1771 1,962 131,174 Restricted funds: Building & Equipment Fund Sydenham Together Fund Outdoor Play Area Kitchen Refit Rowland Trust Grant COVID Response Fund The SYDNI Community Cookbook Mota SinRh Memorial Garden Leamington in Bloom American Car Show Additional Lottery Funding WCC Café Grant ESOL Cookery Workshops Café Lottery Funding Volunteer Coordinator Funding Warm Hub UKSPF Capital 984,325 4,942 21,807 5,875 1,677 4,995 907 569 27 984,325 9,330 18,540 4,896 802 4,630 27,000 122,6121 14,4831 19791 18751 (9411 1,216 576 1907) 150) 30 1,395 13161 {244} 794 11,3131 157) 11.3951 17,1841 15321 11,4701 14.1581 110.3161 iio.0001 11.0001 14521 7,500 776 2,254 784 1,117 3.CQO 10,000 10,000 2,700 13,000 2,275 316 1,700 12.548 1.035,654 67,070 167,7671 3,715 1,038,672 17
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Movements on Funds {continuedl Balance At Income In 01.04.23 Period Expenditure In Period Transfer5 In Period Balance At 31.03.24 Brought forward 1,035,654 67,070 167,7671 3,715 1,038,672 UKSPF Revenue Sensory Room Crn Upgrade Bikerlott SYDNI Projects.. History Project Pizza Oven Build Community Garden Project Easter Holiday Activities Geared Up Project Cycles Skills Track Youth Work International Women's Oav SYDNI Outdoors May Festival SWEAT 30.000 950 1,730 500 118,1721 16371 {581 12581 11.570 313 1.672 500 768 1.123 46 448 1,500 642 4,508 54 1,216 1,396 sii 17681 11,1231 20 200 11301 14481 11,4591 136 1411 1642) 258 9,935 13,1581 11.543 54 11,216) (1,3961 15111 1.047,866 110,385 191,8291 {1,9621 1,064,460 TOTAL FUNDS 1,182,413 282,227 1269,LX161 1,195,634 13. Restrirted Funds Building and Equipment Fund This represents the value of the leasehold land and buildings occupied by the charity. Sydenham Together Fund This represent5 a Community Development project that commenced in April 2015 and which is funded by the VCS Service within Warwick District Council. The Fund is targeted at people living in Sydenham and aims to reduce 50cial and financial disadvantage. The service elements are; targeted outreach by the Community Oevelopment Worker, Social Prescription and delivery of activitie5 Within the SYONI Centre. Outdoor Play Area This represents the value of the new outdoor play area built in 2018 a nd funded by grants and donations. Thi5 fund is now being depleted as the a55ets are depreciated. 18
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Restricted Funds (continued) Kitchen Refit This represents the value of the kitchen refit work completed in 2019 and funded by grants and donations. This fund is now being depleted as the assets are depreciated. Rowland Trust Grant Grant received to help cover the cost of new CCIV cameras. This fund is now being depleted as the asset is depreciated. COVID Response Fund This represent5 a food project developed in response to the f inancial im pact of COVID-19 pandemic on local people's lives. Funded by DEFRA through WCC. and 150 5UPPOrted by donations from the general public and PechaKucha Leamington Spa, the project aims to alleviate food poverty through the gifting of f ruit a nd veg bags and commtjnity café mea15 to those most in need. The project functions collaboratively between Warwick District community hubs. The SYDNI Community Several 8rants were received to cover the cost of printing and distributing the Cookbook Cookbook. The balance of this fund has been transferred to the Cookery Workshops fund. Mota Sin8h Memorial Fund to create a lasting memorial for Mota Singh who was instrumental in the Garden formation of The SYDNI Centre. Leamington in Bloom Leamlngton Town Council grant for plantin8. American Car Show Warwickshire County Council grant for holding the American Car Show exhibition. Warm Hub Warwickshire Rural Community grant for a 'Warm Hub, providing free hot meals and drinks during the winter months. Additional Lottery Funding Grant to help with inflation costs of energy and food durin8 202312024. WCC Café Grant Fundin8 for kitchen equipment. ESOL Adult 'Engli5h for Speakers of Other Languages, lesson5 resources. Cookery Workshops To provide cookery workshops to those disadvantaged to beneflt frorTI d Iiedllliy budget and diet. Café Lottery Funding Grant received to support the Café Managerfs salary. Volunteer Coordinator Grant received to support the Volunteer Co-ordinator's salary. Funding UKSPF Capital Grant funding to enable improvements to the building, development of a new website and other improvements. 19
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. Restricted Funds (continued) UKSPF Revenue Grant funding to enable increased Administration support and a number of new activities such as Singin8 for Wellbeing, youth club and creative writing workshop5 for children. Sensory Room Grant received to purchase sensory equipment and decoratlon for the sensory room. This fund is now being depleted as the asset is depreciated. CCTV Upgrade Warwickshire Police and Crime Commission grant to upgrade the ccrv system in the hall. Bikerlott Leamington Old Town grant to provide a bespoke event showcasing classic and unique motorbikes. SYDNI Projects Various projerts and events or83nised by the Charity with the aim of bringing together the community or helping those in need. Youth Work Funding to support the Youth Workers, salaries and any other cost for running the youth group. £4,861 was refunded in May 2024. 14. Analysis of Net Assets Between Funds Tangible Fixed Assets Current Assets Liabllitie5 Total At 31 March 2024: Restricted f u nds Unrestricted funds 1,016,045 6,204 50,241 135,293 11,8261 110,3231 1,064.460 131,174 1.022,249 185,534 {12,1491 1,195,634 At 31.March 2023:I.' Réstricted,fun(is i .32,982 L.., .'1. 141,. 944'.14' 1047,866:. .rt.134'547, 11';076.' % j74'926r& .1.: :{18,'4891 ..> 1,182,'413' 20