Registered Company Number: 3521640 Registered Charity Number: 1077333 SYDNI Sydenham Neighbourhood Initiatives Ltd April 2024 - March 2025 Annual Report & Unaudited Financial Statements WEDNESDAY A05 AECR5HLK 08/10/2025 COMPANIES HOUSE
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Contents Page 1 2-7 8 10 Company Information Trustees' Annual Report (incl Directors' Report) Independent Examiner's Report Statement of Financial Activities Balance Sheet 11 - 19 Notes to the Finance Statements
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED COMPANY INFORMATION FOR THE YEAR ENDED 31 MARCH 2025 Trustees: Company Number: Charity Number: Company Secretary: Registered Office & Charity Address: Bankers: David Rawcliffe (Chair) Jerome Tucker (Treasurer) Kay Bugg Bernard Davies Robert Zara Will Roberts Krishan Bhardwaj Ella Billiald Vereena Jones 3521640 1077333 Robert Zara SYDNI Centre Cottage Square Sydenham Leamington Spa Warwickshire CV31 1PT •Independent Examiner: HSBC Bank pic Virgin Money The Co-operative Bank Close Brothers Savings Mark Harwood FCA BEP FMAAT Michael Harwood & Co Greville House 10 Jury Street Warwick CV34 4EW
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report and the financial statements of the charity for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity OBJECTIVES SYDN'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 do this by uniting local people, the local community, voluntary and other organisations in a common effort to advance education and vocational training, improve individual and group wellbeing, promote empowerment 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-based venture, initially inspired and run by volunteers, and now led by a full-time Manager and their staff. But we still depend on volunteers! 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 relatively deprived and multi-cultural housing estate on the outskirts of Leamington Spa. STRUCTURE, GOVERNANCE & MANAGEMENT SYDNI was established on 4'* March 1998 as a Company Limited by Guarantee, under the name of Sydenham Community Project Limited. Following an Extraordinary General Meeting on 30"h June 1999, the company changed its name to Sydenham Neighbourhood Initiatives Limited on 215 July 1999. The Company and the Project it promotes is known locally as the SYDNI Centre. The Company was registered as a Charity on 8th September 1999. SYDNI is run in accordance with its Articles of Association and Memorandum of Association. The Articles state that the Board of Trustees (who 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 office 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 Sydenham community to join the Board. The Board meets 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 charity 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 observer. If this period of familiarisation is mutually successful, the potential trustee is formally appointed to the board. 2
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The list of Trustees who have served during the year can be found on page 1. We meet as trustees every two months - this is all of us at one of our trustee meetings The day-to-day responsibility for the running of SYDNI in this financial year was delegated to the SYDNI Centre Manager supported by the Wellbeing Officer (p/t), Café Manager, Café Assistant (p/t), Finance and Data Administrator (p/t), Office Administrator (p/t), a Volunteer Coordinator (p/t) and by many willing volunteers. PUBLIC BENEFIT The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties. Examples 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. 3
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 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, signposting, sport and education. Our centre manager Helen Jones and her team have continued to work hard to ensure that SYDNI's core services continue to be available to local people and that we respond effectively to their changing needs. The team, which welcomed a number of new faces last year, has been stable and effective as a unit. 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 these have made an invaluable contribution to the local community and to SYDNI and we cannot thank them enough. 3620 Some of our staff and volunteers in front of the new Sydenham Community Wall which was funded by Morrisons Community Foundation. 4
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 A particular 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 Veg Market every single week and ensuring that we were able to provide people with the food that they needed • All of the local Mutual Aid and local volunteers who have supported 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 café for a wholesome meal It is however very clear that we will not be returning to pre-pandemic usage and funding patterns, particularly room hire. This continues to present a challenge as we plan (and budget for) the way we operate in the future. We have maintained a very full schedule. Monday Citizens Advice Fark.munsfinvso 930 - 10.30 10.00 - 1.00 10.45 - 12.15 Thureday Turning Poini Wollbwing Hub Sati Weldoing Scisions Updated 20/8/25 1000.12.00 10.00.200 info@hrmadaphysio.com SYDNI Youth Club Friday 6.00 730. 13.19 yrs old FREE Ist Sydenhamn Beavers & Cub. Ist Sydenham Scouts EVif Marate 6.30-8.00 630 - 8.30 400 - 500 Tuesday Family Time 930-11.00 PiROsO LUCA Kuman English and Maths Cannon's Dojo ILEAP Drama Warkshops iü0:6.00 630 601 630-7.4: Wadnosday Turning Poin: Drop in 10.00 - 12 noon Memory Lone Cate 100-3.00 for older or isolated residents. Rur by Warwich Univatity medical students The BRAKES Youth- Multi sports 5.00 - 6.00 Yoga with Emma 530 630 E7 por session Sosalang in rod aro cil run by SYD: Cortiro and cro cithor Singing for Partinsan's Kuman English end Maths EWF Karote 2.15.3.15 4.00 - 6.00 5.00-7.00 Saturday Kumon English ond Maths Repur Caid Ist Saturday of tha Month the Funny Drawing Lat 5.09 - 11.00 17.00.200 se3g 12.00 Ist Saturday of ovary monti Sunday Gannon's Doj 200-3.00 Childron's Clas 3.00 - 4.00 THis fastr are far childion agod 5.10 and dro inspired by th principles of the Bahai Fait Sessions in green are alt run by organizations axternal to tho SYDNI Contre. Check wabsite los furthor info, contacte and 5
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW 2024/2025 has been a tough year for SYDNI. We have ended the year with a deficit of £56.4k which will have to be mostly met from our reserves. The deficit has resulted from increased payroll costs and fewer grants received. The consequent reduction in our reserves means that unrestricted reserves are now less than the £100k which is specified in the reserves policy. Now for some better news: room hire income has increased by 30% and cafe income has increased by 15% compared to the previous year. This shows that the initiatives and hard work by the SYDNI staff have paid off. However, whilst we are doing better with room hire and cafe income it is still not sufficient, and it looks like for this financial year (2025/2026) we will be reporting another substantial deficit. Difficult decisions regarding staff costs and services provided may have to be taken to make savings and thus ensure the continued viability of The SYDNI Centre. In early 2024 we received a grant from Groundwork to install LED lighting and improve the efficiency of our gas central heating boilers. This has resulted in our energy bill being 6% less than the previous year. Other grants received during the year were The Lottery, The Sydenham Together fund and the UK Prosperity fund. 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 nature of our Charity's activities, a prudent level of free and unrestricted reserves is represented by a sum equivalent to the next 12 months budgeted operating costs. In reaching this view, the Trustees are mindful 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 £100,000 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 operating costs. The Trustees review the major risks faced by the Charity on a regular basis and believe that, taking into account the difficult economic conditions prevailing, the level of unrestricted reserves stated above should be maintained and steadily increased, if possible, in order to have sufficient resources to cope with likely continuing adverse conditions. RISK MANAGEMENT The predominant risks faced by the Charity are: The unreliability of grants available for community groups (and most particularly, to fund core costs including staff needed to run activities and support the Centre Manager). • A decline in usage of the Centre (room hire). 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. 6
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED TRUSTEES' ANNUAL REPORT (INCL DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 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. Consequently, 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 and of the surplus or deficit for that period. In preparing those financial statements, the trustees are required to: • select suitable accounting policies and then apply them consistently • observe the methods and principles in the Charities SORP make judgements and estimates that are reasonable and prudent • 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 keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of Sydenham Neighbourhood Initiatives 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 an 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 Practice - Accounting and Reporting by Charities and in accordance with the special provisions of the Companies Act 2006 relating to small companies. ву On. David Rawcliffe Der Trustee Dated: 30 SEPTEMBER 2025 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED (Limited by guarantee) FOR THE YEAR ENDED 31 MARCH 2025 I report on the accounts of the company for the year ended 31 March 2025 which are set out on pages 9 to Responsibilities and basis of report As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.('the 2006 Act). 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 respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act). In carrying out my examination I have foilowed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner'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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; 2. 3. 4. 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 an 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 charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. Marklavood Mark Harwood FCA BFP FMAAT Michael Harwood & Co Chartered Accountants Greville House 10 Jury Street Warwick CV34 4EW Dated: 30/04/2025 8
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Note Unrestricted Restricted Total Unrestricted Restricted Total Income from: Donations and grants Charitable activities Investments Total Income Expenditure on: Raising funds Charitable activities Other costs Total Expenditure Net income / (expenditure) Transfers between funds Net movement in funds Total funds brought forward Total funds carried forward 2 3 4 5 12 4,148 162,641 4,035 170,824 - 203,503 6,041 209,544 (38,720) 876 (37,844) 131,174 93,330 116,730 210 - 116,940 125,989 8,680 134,669 (17,729) (876) 120,878 162,851 4,035 287,764 - 329,492 14,721 344,213 (56,449) - (18,605) (56,449) 1,064,460 1,195,634 1,045,855 1,139,185 33,788 134,802 3,252 171,842 - 169,512 7,665 177,177 (5,335) 1,962 110,385 - - 110,385 - 84,969 6,860 91,829 18,556 (1,962) 144,173 134,802 3,252 282,227 - 254,481 14,525 269,006 13,221 - (3,373) 16,594 13,221 134,547 1,047,866 1,182,413 131,174 1,064,460 1,195,634 9
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED (company no. 3521640) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note € € € Fixed Assets Tangible assets 8 1,014,105 1,022,249 Current Assets Stocks Debtors Cash at bank and in hand 9 1,407 22,261 122,379 146,047 1,677 33,368 150,489 185,534 Creditors Amounts falling due within one year 10 (20,967)
(12,149) Net Current Assets Total assets less current liabilities 125,080 1,139,185 173,385 1,195,634 Net Assets 1,139,185 ======== 1,195,634 ======== Funds of the Charity Restricted Unrestricted Total Charity Funds 12 12 1,045,855 93,330 1,139,185 ======== 1,064,460 131,174 1,195,634 ======== 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 Act 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. The ncial statements were approved by the Board of Trustees on. OO JEPTEMBER 2020 ... Company Secretary Robert Zara 10
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. 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 accounts 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 (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling, which is the functional currency of the charity, and rounded to the nearest f1. The significant accounting policies applied in the preparation 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 being 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 financial statements for services donated by volunteers. d) 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 specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability. e) Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. 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 probability 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. 11
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 f) Tangible Fixed Assets and Depreciation (continued) 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 Equipment Fixtures and Fittings 25% Straight Line Basis 10% or 25% Straight Line Basis g) Stock Stock consists of purchased goods for resale. Stock is valued at the lower of cost and net realisable value. h) Debtors and Creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. i) 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 from income tax and capital gains tax within the exemption granted by sections 521 - 536 of the Income Taxes Act 2007. The charity has borne VAT on its expenditure where appropriate. k) Fund Accounting General funds are unrestricted funds which are available 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. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial 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. 12
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Donations and Grant Income Individuals Warwick District Council Warwick County Council The National Lottery Community Fund The Police & Crime Commissioner UK Shared Prosperity Fund Garfield Weston 29* May 1961 Charitable Assoc Morrisons Bericote Properties Ltd Groundwork Other organisations individually < £1k Grant refunded 3. Charitable Activities Income Catering Room hire Day Suite lease Hire income Miscellaneous 2025 2025 Unrestricted Restricted € 3,711 : - 720 44,058 4,280 12,500 2,000 30,000 - 9,950 1,800 13,673 2,610 (4,861) 4,148 ======= 116,730 ======= 2025 2025 Unrestricted Restricted 67,028 74,087 14,001 - 594 - 6,931 210 162,641 210 ======= ======= 13 2025 Total € 4,431 44,058 4,280 12,500 2,000 30,000 - 9,950 1,800 13,673 3,047 (4,861) 120,878 ======= 2025 Total 67,028 74,087 14,001 594 7,141 162,851 ======= 2024 2024 Unrestricted Restricted € 3,788 : - 15,000 15,000 776 30,000 2,294 20,000 11,665 43,000 ... 2,650 33,788 ======= 110,385 ======= 2024 2024 Unrestricted Restricted 57,964 56,662 12,754 759 6,663 134,802 ======= ======= 2024 Total € 4,564 30,000 2,294 20,000 11,665 43,000 15,000 15,000 : 2,650 144,173 ======= 2024 Total 57,964 56,662 12,754 759 6,663 134,802 =======
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 4. Charitable Activities Expenditure 2025 2025 Unrestricted Restricted € Staff costs (note 6) Costs of goods sold Event/project costs Support costs (below) 97,155 29,516 1,550 75,282 203,503 ======= 70,317 1,812 32,706 21,154 125,989 ======= Support Costs Premises Repairs & renewals Admin 25,160 16,762 33,360 75,282 ======= 18,458 2,696 21,154 ====== 5. Other Costs 2025 2025 Unrestricted Restricted Independent Examiner's fees Depreciation Bank charges Bad debts 2,900 2,782 307 52 6,041 ======= 8,680
8,680
- Staff Costs Staff costs during the year amounted to: Salaries and wages Social security costs Pension costs Other staff benefits 2025 Total 167,472 31,328 34,256 96,436 329,492 ======= 25,160 35,220 36,056 96,436 ======= 2025 Total € 2,900 11,462 307 52 14,721 ======= No employee received emoluments over £60,000. The average number of employees during the year was 9 (2024 - 8). 14 2024 2024 Unrestricted Restricted 75,149 24,991 1,669 67,703 60,704 22,610 1,655 169,512 ======= 84,969 ======= 25,070 14,033 28,600 67,703 ======= : 1,655 1,655 ======= 2024 2024 Unrestricted Restricted 2,200 4,873 305 287 6,860 7,665 ======= 6,860 ======= 2025 € 157,359 6,540 3,338 235 167,472 ======= 2024 Total 135,853 24,991 24,279 69,358 254,481 ======= 25,070 14,033 30,255 69,358 ======= 2024 Total € 2,200 11,733 305 287 14,525 ======= 2024 € 129,003 3,389 3,461 135,853 =======
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 7. Directors No Directors / Trustees received any remuneration or expenses during the year. 8. Tangible Fixed Assets Long Leasehold Buildings Equipment 984,325 11,968 Cost At 1 April 2024 Additions Disposals At 31 March 2025 Accumulated Depreciation At 1 April 2024 Charge for period Disposals At 31 March 2025 Net Book Values At 31 March 2025 At 31 March 2024 984,325 11,968 Fixtures & fittings 112,751 3,319 116,070 8,106 1,804 9,910 78,690 9,658 88,348 -. 984,325 ======== 984,325 ======== 2,058 ======== 3,862 ======== 27,722 ======== 34,062 ======= 9. Debtors Trade debtors Prepayments Other debtors 2025 f 11,732 5,196 5,333
22,261
15 Total € 1,109,044 3,319 1,112,363 86,796 11,462 98,258 1,014,105 ======== 1,022,249 ======= 2024 € 30,817 1,563 988
33,368
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 10. Creditors: amounts falling due within one year Trade creditors Taxation and social security Other creditors Accruals 2025 7,618 4,344 2,570 6,435 20,967 ======= 2024 5,034 1,128 1,262 4,725 12,149 ======= 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 abstain from voting on those applications. In May 2023 Trustees Will Roberts and Ella Billiald were elected as councillors of Warwick District Council, who granted £44,058 to the charity during the year. 12. Movements on Funds Unrestricted funds: General Funds Restricted funds: Building & Equipment Fund SYDNI Projects: Community Garden Project Youth Work International Women's Day COVID Response Fund Sydenham Together Fund Rowland Trust Grant Bericote Properties American Car Show Outdoor Play Area Kitchen Refit ESOL Cookery Workshops Café Lottery Funding Volunteer Coordinator Funding Warm Hub UKSPF Capital Balance At Income in Expenditure Transfers Balance At 01.04.24 Period In Period In Period 31.03.25 131,174 984,325 136 11,543 4,630 9,330 802 18,540 4,896 784 1,117 - 1,700 12,548 1,050,405 170,824 - 961 627 37,400 1,800 610 7,400 5,100 1,801 55,699 16 (209,544) - (114) (8,076) (1,378) (37,314) (802) (1,800) (762) (4,483) (980) (784) (15) (6,171) (4,208) (2,139) (2,787) (71,813) 876 - 93,330 984,325 330 (54) 22 4,758 3,879 9,416 : 14,057 3,916 1,102 1,229 892 1,362 9,761 428 1,034,719
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Movements on Funds (continued) Balance At Income In Expenditure Transfers Balance At 01.04.24 Period In Period In Period 31.03.25 Brought forward Sensory Room CCTV Upgrade UKSPF Revenue Community Picnic in the Park Bikerlott Morrissons Community Fund Sports Grant Leamington Roundtable Fund County Councillors Grant Fund Groundwork Energy Save TOTAL FUNDS 1,050,405 313 1,672 11,570 - 500 55,699 - 1,064,460 4,500 350 9,950 1,158 1,110 500 13,673 116,940 1,195,634 287,764 ======== ======= (71,813) (82) (350) (36,118) (3,000) (2,427) (6,822) (1,025) (910) (486) (11,636) (134,669) 428 1,034,719 (330) 231 992 (500) 1,577 4,952 1,500 : 3,128 133 200 : (2,037) (876) 1,045,855 (344,213) 1,139,185 ======== ======== ======== 13. Restricted Funds Building and Equipment Fund SYDNI Projects This represents the value of the leasehold land and buildings occupied by the charity. Various projects and events organised 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. OVID Response Fund This represents a food project developed in response to the financial impact i OVID-19 pandemic on local people's lives. Funded by DEFRA throuch WCC. ar also supported by donations from the general public and Pechakucha Leamington Spa, the project aims to alleviate food poverty through the gifting of fruit and veg bags and community café meals to those most in need. The project functions Sydenham Together This represents 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 social and financial disadvantage. The service elements are; targeted outreach by the Community Development Worker, Social Prescription and delivery of activities within the SYDNI Centre. 17
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Restricted Funds (continued) Rowland Trust Grant Grant received to help cover the cost of new CCTV cameras. This fund is now being depleted as the asset is depreciated. Bericote Properties American Car Show This represents a one off grant for young people to decorate the youth centre and make it their space. The work was completed by Tim Brink. Warwickshire County Council grant for holding the American Car Show exhibition. Outdoor Play Area Kitchen Refit This represents the value of the new outdoor play area built in 2018 and funded by grants and donations. This fund is now being depleted as the assets are depreciated. 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. ESOL Adult 'English for Speakers of Other Languages' lessons resources. Cookery Workshops To provide cookery workshops to those disadvantaged to benefit from a healthy budget and diet. Café Lottery Funding Grant received to support the Café Manager's salary. Volunteer Coordinator Grant received to support the Volunteer Co-ordinator's salary. Funding Warm Hub Warwickshire Rural Community grant for a 'Warm Hub' providing free hot meals and drinks during the winter months. UKSPF Capital Grant funding to enable improvements to the building, development of a new website and other improvements. Sensory Room CCTV Upgrade UKSPF Revenue Grant received to purchase sensory equipment and decoration for the sensory room. This fund is now being depleted as the asset is depreciated. Warwickshire Police and Crime Commission grant to upgrade the CCTV system in the hall. Grant funding to enable increased Administration support and a number of new activities such as Singing for Wellbeing, youth club and creative writing workshops for children. Community Picnic in the Park Grant funding to enable a community cohesion project free for the local community to access activities and food. 18
SYDENHAM NEIGHBOURHOOD INITIATIVES LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Restricted Funds (continued) Bikerlott Morrissons Community Fund Sports Grant Leamington Roundtable Fund County Councillors Grant Fund Leamington Old Town grant to provide a bespoke event showcasing classic and unique motorbikes. A Grant for the SYDNI Improvement Scheme to enhance the look and function of the building. A grant to provide chair exercise for the community. A Grant received to deliver an event to celebrate the contribution and value of volunteers at the SYDNI Centre. Grant received to purchase kitchen equipment to enhance café sales. Groundwork Energy Save A grant fund to save energy costs by optimising boiler efficiency and installing energy saving lights. 14. Analysis of Net Assets Between Funds Tangible Fixed Assets At 31 March 2025: Restricted funds Unrestricted funds 1,010,684 3,421
1,014,105
Current Assets € 37,045 109,002 146,047 ======= Liabilities € (1,874) (19,093) (20,967) ======= Total € 1,045,855 93,330 1,139,185 ======== At 31 March 2024: Restricted funds Unrestricted funds 1,016,045 6,204
-.. 1,022,249 ======== 50,241 135,293 185,534 ======= (1,826) (10,323) (12,149) [====== 1,064,460 131,174 1,195,634 ======== 19