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2022-03-31-accounts

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee)

Company Number 03786826

Charity Number 1079460

Directors'/Trustees' Report and Financial Statements for the year ended 31 March 2022

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

Contents
Page
Legal and Administrative Information 1
Directors'/Trustees' Report 2-7
Independent Examiner's Report 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement
11
Notes to the Financial Statements 12-24

Legal and Administrative Information

The Board of Directors/Trustees Revd. G Thomas Chair and trustee
Mr J Haskell Treasurer
Mr R Dawson
 resigned
Mrs B Persaud
 resigned
Fr. J Fairhead
 resigned
Revd. K Tekyi-Ansah
Mrs P Fenwick
Mr J Graham
Mrs A J Smith
Company Secretary Mr N White
Chief Executive Mr N White
Registered Office 809 Harrow Road
Wembley
Middlesex
HA0 2LP
Independent Examiner Anthony Epton FCA, CTA, FCIE
Goldwins Limited
75 Maygrove Road
West Hampstead
London NW6 2EG
Bankers Central Finance Board of the Methodist Church
HSBC Bank Plc (Wembley)
Company Number 03786826 (Registered in England and Wales)
Charity Number 1079460 (Registered in England)

1

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

The members of the Board of Trustees (who are also Directors for Companies Act purposes) present their report together with the financial statements for the charitable company for the year ended 31st March 2022.

Structure, Governance and Management

Legal and administrative information

The legal and administrative information relating to the charitable company is set out on page 1.

Governing Document

Sudbury Neighbourhood Centre (Middlesex) Limited is a charitable company, limited by guarantee without any share capital, incorporated on 10 June 1999 and registered as a charity on 18 February 2000.

The company was established under a Memorandum of Association which laid down the objects and powers of the charitable company, and is governed under its Articles of Association. In the event of the company being wound up, each voting member is required to contribute an amount not exceeding £10.

Appointment of Directors/Trustees

The directors of the company are also charity trustees for the purposes of charity law. At the Annual General Meeting (AGM), in accordance with the Articles of Association, one-third of the trustees shall retire and are eligible for re-election at the same AGM if desired.

Director/Trustee induction and training

The Directors/Trustees are already familiar with the practical work of the charitable company. Prospective new Directors/Trustees are encouraged to attend Board of Trustees meetings to familiarise themselves with the charitable company and the context within which it operates.

Organisation

As indicated above, the charitable company is governed by a Board of Directors/Trustees, which is responsible for setting the strategic direction of the organisation and for establishing policy. Matters, including decisions and future development to further the charitable company's objectives, are discussed and decided at Board meetings upon the general consensus of agreement from the Board. Failing such consensus then the Articles of Association allow for a majority vote to decide a particular matter. The Board of Directors/Trustees who acted during the year and up to the date of this report are shown on page 1.

The Board of Directors/Trustees meets on a regular basis throughout the year. During 20212022 the Board of Directors/Trustees met on 10 separate occasions. No new trustees were appointed to the Board during this period, and no positions were terminated due to resignations.

Day-to-day management is devolved to the Chief Executive (as from 15 June 2015), who reports to each Board meeting. Up until 15 June 2015 day-to-day management was devolved to the Centre Manager.

2

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

As of 31 March 2022, there were a total of 7 members of staff employed (2 full-time, 5 parttime) to achieve the charitable company's objectives. Volunteers

The charitable company cannot forget or ignore the excellent volunteering supporters (including the Friends of Sudbury Neighbourhood Centre) who generously give their time, skills and experience, and without whom the charitable company could not operate. These number approximately 8 in total from local churches and the community, carrying out many regular weekly duties and on special outings. Some volunteers also support the work with fund-raising and donations, as do local churches. The Friends of Sudbury Neighbourhood Centre provide practical support and fund-raising for special purposes. The work and support of all the volunteers is much appreciated by our clients, our staff team and the Board of Directors/Trustees.

The Board of Directors/Trustees are also volunteers. The Directors/Trustees give up their valuable time to meet regularly throughout the year, and are committed to making the necessary changes required for the charitable company to become financially stable.

Related parties

The charitable company has a close relationship with Sudbury Methodist Church, St. Andrew's Church, St. George's Church and the Friends of Sudbury Neighbourhood Centre. Some of the directors/trustees are also associated with these churches and the Friends of Sudbury Neighbourhood Centre. Over the year the Centre also developed its relationship with other community groups, including the Sudbury Town Residents Association. Since the appointment of the Chief Executive in June 2015, the charity is continuing to develop an excellent working relationship with colleagues at Brent Council, including the Cabinet Member for Adult Social Care and the Commissioners.

Risk management

The risks that may have an impact on the functions of the charitable company are monitored and reviewed by the Board of Directors/Trustees and Chief Executive. These include major governance, operational, financial, reputational and legal risks. Where appropriate this has resulted in systems and procedures being updated to both mitigate these risks and improve the performance of the charitable company.

Principal Activities and Objectives

The principal objectives of the charitable company is companionship and friendship via the provision of a community service in the area for the general benefit of the inhabitants of the surrounding communities, enhancing their quality of life (and their families and friends).

These objectives are achieved through the provision of a range of services, including day care, events and activities, transportation (using specially adapted vehicles), and various support services. This includes various activities including community art classes, community computer classes, music therapy, keep fit classes, outings and other socialising activities, access to professional services (including chiropodist) and to church services.

The principal aims are carried out in association with a range of partners, including privately funded clients, and also with Brent Council in accordance with a specification for services, the amount of which is listed in the financial statements.

3

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

Achievements

On the 21[st] July 2021 the Centre finally re-opened after the Coronavirus pandemic having been closed since 23[rd] March 2020. The Centre was closed for a period of 16 months. From July 2021 to March 2022 the Centre was only open on a part-time basis, operating day care for two days a week on Tuesdays and Thursdays, despite intensive marketing locally and discussions with Brent Council, the Centre struggled to attract enough clients to increase the day care offer to the community. By 31[st] March 2022 the Centre had around 10-day care clients attending on each of the days it was open to the public.

During this period, the Centre marketing was over-hauled, with a new website, public signage, newsletter, promotional brochures, and social media campaigns. The Chief Executive also promoted the Centre to Brent Council commissioners and encouraged the local authority to place their clients in the Centre for sessional and half days. In December 2021 Brent Council announced to all day care providers in the borough that it was going to withdraw from purchasing full day care and only concentrate on sessional activities with providers, and at the same time would cut all block monthly payments, and only pay for attendances. This was implemented from the end of March 2022 and the Centre saw its income fall substantially as a result with catastrophic effects on the long-term finances for the coming financial year 202223. Brent Council client referrals were almost non-existent during this period.

The fixed costs for the premises, particularly the high rent and building maintenance costs, plus rising utility bills, were a severe strain on the charity’s finances in this period, which cost £108,000 during the year. The charity asked its landlord, Sudbury Methodist Church, for a rent reduction during the pandemic closure period, but this was refused. In response, the Centre unilaterally stopped rent payments for a period, although these were eventually reimbursed in full.

The decline in day care income from the local authority, the slow growth of the private day care market, and the increasingly high costs of the premises, have been a major concern for the Board of Trustees. In March 2022 the Board accepted a revised ‘blended’ business model developed by the Chief Executive, for part-time day care provision and an increased activities programmes depended on external grants to support it. It is hoped this will offer some scope for alternative service provision and help reduce dependency on day care as the sole source of income.

During the year external grants and charitable trust income remained steady, and the Centre is very thankful to all its funders for their continued support in very trying circumstances. The external fundraising consultant has done an excellent job and the charity is thankful to him for his continued hard work.

Overall, the Centre did well to survive the pandemic and re-open its day care services, but it became obvious that an early recovery of the business after the enforced closure, would take a lot longer that was envisaged at the start of the financial year.

4

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

Financial and Performance overview

Financial overview

In the year to 31 March 2022 the charitable company had a surplus of £89,476 in this financial year, as shown in the Statement of Financial Activities on page 9 of these financial statements. Incoming resources amounted to £375,932 and resources expended amounted to £431,456.

At 31 March 2022 the charitable company had total fund balance of £571,101. This comprised £365,681 unrestricted funds (excluding the defined benefit pension reserve), £110,000 the defined benefit pension reserve surplus, and £96,020 restricted funds.

The Board of Directors/Trustees recognise that it needs to manage its current level of reserves of unrestricted and restricted funds. This is done in the context of the main risks the charitable company is exposed to, which include the current financial climate, the continuous pressures placed on social services budgets, its increasing costs and its defined benefit pension scheme.

Fixed assets

Fixed assets acquired during the year amounted to £9,003 and assets originally costing £44,205 were disposed of as detailed in note 11 of the financial statements.

Reserves Policy

The Board of Directors/Trustees aim to hold 3 months budgeted expenditure in general funds against possible loss of funding streams, and this policy is continually reviewed.

Performance overview

The major source of revenue generated by the charitable company is on its community day care services, which caters for both privately funded clients and clients who qualify for support from Brent Social Services. This generated total revenues of £126,884 (including the luncheon club).

During 2021-22 the Centre re-opened its building-based services after an enforced closure due to the Coronavirus pandemic.

The Board of Directors/Trustees continue to seek professional advice in seeking to significantly improve the level of incoming resources the charitable company is able to generate, whilst at the same time significantly reduce the charitable company's expenses.

The charitable company's defined benefit pension scheme shows a surplus of £110,000 as at 31 March 2022. Note 10 explains the deficit is expected to be cleared over a 15-year recovery period, by increasing contributions payable by the charitable company and its staff. The Board of Directors/Trustees have identified this as a major risk and are seeking professional advice on the options available on how best to manage this.

5

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

The charitable company will continue to depend on donors who have supported its activities in the past and will also approach new potential donors. Charitable and other donations are vital to the ongoing sustainability of the charities work especially with the ever-decreasing public sector funding for this work. The charitable company would like to express its gratitude to its donors, members, trustees and volunteers who have generously given their time and effort and contributed towards the charitable company's activities and objectives (including those organisations listed in note 4).

The services offered by the charitable company continues to be an invaluable life-line, resource, friend and helping hand to the inhabitants of the surrounding communities. In particular the vulnerable and elderly inhabitants as well as their families and friends, as is demonstrated by the comments received each year.

The Board of Directors/Trustees are committed to taking the necessary action required to try and secure the financial stability and future sustainability of the charitable company, and continue to seek professional advice and taking action where appropriate.

Trustees' responsibilities in relation to the financial statements

The trustees (who are also directors of Sudbury Neighbourhood Centre (Middlesex) Limited for the purposes of company law) are responsible for preparing the Report of the Board of Management and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the trustees are required to:

The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED (a company limited by guarantee) Directors'/Trustees' Report for the year ended 31 March 2022

Statement of disclosure to independent examiner

As far as the trustees are aware, there is no relevant information of which the charitable company's independent examiner is unaware. Additionally, the trustees have taken all the steps that they ought to have taken to make themselves aware of all relevant information and to establish that the independent examiner is aware of that information.

Independent Examiner

A resolution to re-appoint Goldwins Limited as the independent examiner for the ensuing year will be proposed at the Annual General Meeting.

The trustee’s report has been approved by the trustees on………………………. and signed 29 September 2022 on their behalf by:

Revd. G Thomas

Trustee (Director)

7

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.

Responsibilities and basis of report

As the charity’s 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 charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed 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, I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, 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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. 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

  4. 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.

Anthony Epton BA FCA CTA FCIE Goldwins Chartered accountants 75 Maygrove Road West Hampstead London NW6 2EG

Date: 03/10/2022

8

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED

Statement of financial activities

(incorporating an income and expenditure account)

For the year ended 31 March 2022

Note
Income from:
Donations and legacies
3
Charitable activities:
4
Supporting communities including contributions for
lunch, day care services and transportation
Other income
Investments
5
Total income
Expenditure on:
6
Fundraising
Charitable activities:
Supporting communities including costs for lunch,
day care services and transportation
Total expenditure
Net income/ (expenditure) for the year
Net gains / (losses) on investments
Transfers between funds
Remeasurement gains on defined benefit
scheme
- Actuarial (losses)/gains
- Return on plan assets excluding interest
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Net income / (expenditure) for the year
Net income / (expenditure) before other
recognised gains and losses		 Unrestricted
Funds
£
99,096
153,330
13,086
-
265,512
16,875
355,309
372,184
(106,672)
-
(106,672)
-
(106,672)
60,000
85,000
145,000
38,328
437,353		 Restricted
Funds
£
-
110,420
-
-
110,420
-
59,272
59,272
51,148
-
51,148
-
51,148
-
-
-
51,148
44,872		 2022
Total
Funds
£
99,096
263,750
13,086
-
375,932
16,875
414,581
431,456
(55,524)
-
(55,524)
-
(55,524)
60,000
85,000
145,000
89,476
482,225		 2021
Total
Funds
£
164,152
361,951
-
1,091
527,194
16,200
442,056
458,256
68,938
-
68,938
-
68,938
(196,000)
222,000
26,000
94,938
387,287
475,681 96,020 571,701 482,225

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. The attached notes form part of these financial statements.

9

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Balance sheet

As at 31 March 2022

Balance sheet
As at 31 March 2022
Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
Net assets excluding pension asset
Defined benefit pension scheme asset/ (liabilities)
10
15
Total net assets
Cash at bank and in hand
Creditors: amounts falling due within one year
Net current assets
Total net assets
Unrestricted funds:
Debtors
Tangible assets
Funds
Total unrestricted funds
Total funds
General fund
Pension reserve
Restricted funds		 2022
£
5,639
246,131		 2022
£
225,258
236,443		 2021
£
875
286,052		 2021
£
238,174
261,051
251,770
(15,327)		 286,927
(25,876)
365,681
110,000		 454,353
(17,000)
461,701 499,225
461,701
110,000		 499,225
(17,000)
571,701 482,225
96,020
475,681		 44,872
437,353
571,701 482,225

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.The directors acknowledge their responsibility for.complying with the requirements of the Act withrespect to accounting records and for the preparation of accounts.These accounts have been prepared in accordance with the provisions applicable to companiessubject to the small companies regime. 29 September 2022.

and signed on their behalf by:

Revd. G Thomas Chair of Trustees

J C Haskell Trustee (Treasurer)

Company registration no. 03786826

The attached notes form part of the financial statements.

10

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Statement of cash flows For the year ended 31 March 2022

Note
Cash flows from operating activities:
a
Cash flows from investing activities:
Interest/ rent/ dividends from investments
Sale/ (purchase) of fixed assets
Cash provided by / (used in) investing activities
Cash flows from financing activities:
Other finance costs
Cash provided by / (used in) financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
b
a)
Net income / (expenditure) for the reporting period (as
per the statement of financial activities)
Depreciation
Interest, rent and dividends from investments
(Loss)/ profit on the sale of fixed assets
(Increase)/ decrease in debtors
Increase/ (decrease) in creditors
Other finance costs
Increase/ (decrease) in pension scheme liability
Net cash provided by / (used in) operating activities
b) Analysis of cash and cash equivalents
Cash at bank and in hand
Total cash and cash equivalents
Net cash provided by / (used in) operating activities
Reconciliation of net income / (expenditure) to net cash
flow from operating activities		 -
(9,003)
(18,000)
£
286,052
286,052
At 1 April
2021		 2022
£
(12,918)
(9,003)
(21,921)
(18,000)
(39,921)
286,052
246,131
2022
£
89,476
21,918
-
-
(4,764)
(10,548)
18,000
(127,000)
(12,918)
Cash flows
£
(39,921)
(39,921)		 1,091
-
(1,000)
£
-
-
Other
changes		 2021
£
170,398
1,091
171,489
(1,000)
170,489
115,563
286,052
2021
£
94,938
23,031
(1,091)
45,148
18,533
2,839
1,000
(14,000)
170,398
£
246,131
At
31 March
2022
246,131

11

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

1 Accounting policies

a) Basis of preparation

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 (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern at the year end 31 March 2022. Key judgements that the charitable company has made which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

c) Income

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

e) Fund accounting

f) Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Other expenditure represents those items not falling into any other heading.

g) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charitable activities. These costs have been allocated between cost of generating funds and expenditure on charitable activities.

12

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements

For the year ended 31 March 2022

1 Accounting policies (continued)

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:˜

Lease - 3 1/3% per annum over the life of the lease (30 years) - Leasehold premises 3 1/3% per annum over the life of the lease (30 years) Furniture,fittings and - equipments 12 1/2% per annum on the straight line basis - Computer equipment 33 1/3% per annum on the straight line basis Motor vehicles - 16 2/3% per annum on the straight line basis

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Pensions

The pension costs charged in the financial statements represents the contribution payable by the charitable company during the year.

13

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

2
Detailed comparatives for the statement of financial activities
Income from:
Donations & Gift aid
Charitable activities:
Other income
Investments
Total income
Expenditure on:
Fundraising
Charitable activities:
Total expenditure
Net income/ (expenditure) for the year
Net movement in funds
Net gains / (losses) on investments
Net income / expenditure
Transfers between funds
- Actuarial (losses)/gains
- Return on plan assets excluding interest
Net movement in funds
Total funds brought forward
Total funds carried forward
Net income / (expenditure) before other
recognised gains and losses
Supporting communities including contributions for lunch, day
care services and transportation
Supporting communities including contributions for lunch, day
care services and transportation
Remeasurement (losses)/gains on defined benefit
schemealuation of fixed assets		 2021
Unrestricted
Funds
£
164,152
240,813
110,826
1,091
516,882
18,640
363,210
381,850
135,032
135,032
-
135,032
-
135,032
222,000
(196,000)
26,000
161,032
276,321
437,353		 2021
Restricted
Funds
£
-
10,312
-
-
10,312
-
76,406
76,406
(66,094)
(66,094)
-
(66,094)
-
(66,094)
-
-
-
(66,094)
110,966
44,872		 2021
Total
Funds
£
164,152
251,125
110,826
1,091
527,194
18,640
439,616
458,256
68,938
68,938
-
68,938
-
68,938
222,000
(196,000)
26,000
94,938
387,287
482,225

3 Income from donations and legacies

Legacies
Other donations		 £
77,147
21,949
99,096
Unrestricted
Funds		 £
-
-
-
Restricted
Funds		 2022
Total
Funds
£
77,147
21,949
99,096		 2021
Total
Funds
£
100,150
64,002
164,152

14

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

4 Income from charitable activities

Grants and contracts
Awards for All
City of London
London Catalyst
Donald Forest Trust
Covid-19
Independent Age
All Churches Trust
Edward Gostlin
National Lottery Community Fund
London Borough of Brent
Valesco Foundation
Grants under £5,000
Total
Other income
Insurance claims
HMRC- JRS Grants
Other income
Other activities
Total
Total income from charitable activities
5
Income from investments
Bank interest
The Sobell Foundation
Francis Winham Foundation
Postcode Society Trust
Olive Woolf Holiday Trust Fund
Charges and contributions for lunch and day
care services		 £
9,750
-
-
-
10,000
-
-
-
-
-
126,884
-
-
-
-
6,696
153,330
-
7,536
5,550
-
13,086
166,416
Unrestricted
Funds
£
-
-
Unrestricted
Funds		 £
-
20,000
-
-
-
-
-
-
29,656
10,000
-
13,960
5,000
10,000
10,000
11,804
110,420
-
-
-
-
110,420
£
-
-
Restricted
Funds
Restricted
Funds		 2022
Total
Funds
£
9,750
20,000
-
-
-
10,000
-
-
29,656
-
10,000
126,884
13,960
5,000
10,000
10,000
18,500
263,750
-
7,536
5,550
-
13,086
276,836
2022
Total
Funds
£
-
-		 2021
Total
Funds
£
-
6,589
6,312
4,000
40,000
5,773
4,726
4,760
7,560
2,000
10,000
125,537
-
-
-
-
33,868
251,125
55,100
55,726
-
-
110,826
361,951
2021
Total
Funds
£
1,091
1,091

15

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

6 Analysis of expenditure

Analysis of expenditure
Staff costs (See note 8)
Salaries, national insurance and
pension costs
Direct Costs
HLF Project
Staff training
Art classes
Keep Fit, Tai Chai and Others
Music therapy
Depreciation
Fundraising Costs
Fundraising costs
Marketing costs
Building Costs
Rent and rates
Premises expenses
Insurance
Utilities
Repair and renewals
Depreciation
Loss/(Profit) on disposal of tangible
fixed assets
Management and administration
Food
Ambulance running expenses and
other transportation costs
Legal and professional fees
Telephone and broadband
Printing,Postage and stationery
Amenities activities
Staff recruitment costs
Computer costs
Sundry expenses
Other finance costs (see note 10)
Accountancy fees
Independent examiners' fees
Bank charges and interest
Support costs
Total expenditure 2022
Total expenditure 2021		 £
-
-
-
-
-
-
-
16,875
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Fundraising
costs		 Charitable
activities		 Support costs
£
-
-
-
-
-
-
-
-
19,908
55,792
8,823
2,285
12,820
7,910
-
-
-
-
27,625
3,154
3,399
305
-
3,306
746
18,000
18,144
2,040
28		 2022
£
191,923
-
1,769
403
1,085
3,500
1,265
16,875
19,908
55,792
8,823
2,285
12,820
7,910
20,653
-
9,096
602
27,625
3,154
3,399
305
-
3,306
746
18,000
18,144
2,040
28		 2021
£
243,212
-
1,708
-
-
220
2,377
16,200
2,440
52,467
1,590
1,706
7,262
2,050
20,654
45,148
3,756
4,718
27,296
3,139
1,597
75
-
9,346
1,812
1,000
5,184
3,300
-
Supporting
communities
£
191,923
-
1,769
403
1,085
3,500
1,265
-
-
-
-
-
-
20,653
-
9,096
602
-
-
-
-
-
-
-
-
-
-
-
16,875
-		 230,296
184,285		 184,285
(184,285)		 431,456
-		 458,256
16,875 414,581 - 431,456
18,640 439,616 - 458,256

Of the total expenditures, £372,184 were unrestricted (2021:£381,850) and £59,272 were restricted (2021:£76,406).

16

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

tes to the financial statements
r theyear ended 31 March 2022
Analysis of expenditure
Staff costs (See note 8)
Salaries, national insurance and
pension costs
Wellbeing clinic (restricted)
General and dementia care (restricted)
HLF Project
Staff training
Art classes
Keep Fit, Tai Chai and Others
Music therapy
Depreciation
Fundraising Costs
Fundraising costs
Marketing costs
Building Costs
Rent and rates
Premises expenses
Insurance
Utilities
Repair and renewals
Depreciation
Loss/(Profit) on disposal of tangible
fixed assets
Management and administration
Food
Ambulance running expenses and
other transportation costs
Training costs
Legal and professional fees
Telephone and broadband
Printing,Postage and stationery
Amenities activities
Staff recruitment costs
Computer costs
Sundry expenses
Other finance costs (see note 10)
Accountancy fees
Independent examiners' fees
Bank charges and interest
Support costs
Total expenditure 2021		 £
-
-
-
-
-
-
-
-
-
18,640
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Fundraising
costs		 Charitable
activities		 Support costs
£
-
-
-
-
-
-
-
-
-
-
2,440
52,467
1,442
-
1,706
7,262
1,740
-
-
-
-
-
27,296
3,139
1,597
75
-
9,346
1,812
1,000
5,184
3,300
-		 2021
£
243,212
-
-
-
1,708
-
-
-
220
2,377
-
18,640
2,440
52,467
1,590
1,706
7,262
2,050
20,654
45,148
-
3,756
4,718
-
27,296
3,139
1,597
75
-
9,346
1,812
1,000
5,184
3,300
-		 2020
£
331,724
-
56,410
30,289
1,354
1,820
5,246
7,128
16,150
16,200
1,612
49,605
43,993
2,263
16,020
-
20,841
-
6,648
16,287
-
15,305
2,727
2,432
507
4,167
6,594
921
8,000
-
3,300
-
Supporting
communities
£
243,212
-
-
1,708
-
-
220
2,377
-
-
3,032
-
-
310
20,654
45,148
3,756
4,718
-
-
-
-
-
-
-
-
-
-
-
-
18,640
-		 325,135
116,921		 116,921
(116,921)		 460,696
-		 667,540
18,640 442,056 - 460,696

17

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements

For the year ended 31 March 2022

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED
Notes to the financial statements
For theyear ended 31 March 2022
7
Net income / (expenditure) for the year
This is stated after charging / (crediting):
Depreciation
Loss on disposal of tangible fixed assets
Independent examiners' fees
8
Staff costs were as follows:
Salaries and other staff costs
Social security costs
Other pension costs
Redundancy and termination costs
Analysis of staff costs, trustee remuneration and expenses,
and the cost of key management personnel		 2022
£
21,918
-
2,040		 2021
£
23,031
45,148
3,300
2022
£
159,759
8,333
23,831
-		 2021
£
172,454
7,029
38,932
24,797
191,923 243,212

No employee earned over £60,000 during the year (2021: Nil)

The total employee benefits including pension contributions of the key management personnel were £52,824 (2021: £52,824).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2021: nil). No trustees were reimbursed for expenses (2021: nil). No charity trustee received payment for professional or other services supplied to the charity (2021: nil).

Staff numbers

The average number of employees (head count based on number of staff employed) during the year was as follows:

Management
Administration
Fundraising
Carers
Kitchen staff		 2022
No.
2
2
-
2
1		 2021
No.
2
2
1
5
1
7 11

9 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

18

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

10 Pension costs

The charity operates a defined benefit pension scheme in respect of the staff under the London Borough of Brent Pension Fund. (The scheme is administered by London assets are held by independent managers.)

The latest actuarial valuation was carried out as at 31 March 2022 by Hymans Robertson LLP.

The financial assumptions used in the actuarial valuation are summarised below:

Period ended Period ended
31 March 2022 31 March 2021
% p.a. % p.a.
Pension increase rate 3.30% 2.85%
Salary increase rate 3.60% 3.15%
Discount rate 2.70% 1.95%
The breakdown of the employer assets by category:
Period ended Period ended
31 March 2022 31 March 2021
% p.a. % p.a.
Equities 80% 79%
Bonds 12% 12%
Property 6% 4%
Cash 2% 5%
The average future life expectancies at age 65 are summarised below:
Males Females
Current Pensioners 22.1 years 24.5 years
Future Pensioners* 23.2 years 26.0 years

Reconciliation of changes in the fair value of plan assets, defined benefit obligations and net liabilities are as follows:

Opening fair value of plan assets
Opening defined benefit obligation
Opening balance at 1 April 2021
Current service cost
Interest income on plan assets
Interest on pension obligation
Members contributions
Employer contributions
Benefits paid
Remeasurement gains/(losses)
- Actuarial (losses)/(gains)
- Return on plan assets excluding
amounts included in net interest
Closing fair value of plan assets
Closing defined benefit obligation
Closing balance at 31 March 2022		 Assets
Obligations
£(000)
£(000)
Period ended
31 March 2022		 Assets
Obligations
£(000)
£(000)
Period ended
31 March 2022		 Net
(liability)/a
sset
£(000)		 Assets
Obligations
£(000)
£(000)
Period ended
31 March 2021		 Assets
Obligations
£(000)
£(000)
Period ended
31 March 2021		 Net
(liability)/a
sset
£(000)
1,372
-		 -
(1,389)		 1,372
(1,389)		 1,140
-		 -
(1,171)		 1,140
(1,171)
1,372
-
27
-
6
25
(52)
-
-
85		 (1,389)
(43)
-
(27)
(6)
-
52
(57)
(3)
-		 (17)
(43)
27
(27)
-
25
-
(57)
(3)
85		 1,140
-
26
-
7
28
(51)
-
-
222		 (1,171)
(39)
-
(27)
(7)
-
51
(196)
(15)
15		 (31)
(39)
26
(27)
-
28
-
(196)
(15)
237
1,463 (1,353) 1,463
(1,353)		 1,372 (1,389) 1,372
(1,389)
1,463 (1,353) 110 1,372 (1,389) (17)

19

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

Amounts recognised in Statement of Financial Activities:
£(000)
Amount charged to resources
expended and included as part of
staff costs:
Current service cost
(43)
Amount charged to other finance costs:
Interest income on plan assets
27
Interest on pension obligation
(27)
Net cost
-
Amount charged within net movements of funds
(43)
Amounts recognised in Statement of Financial Activities:
£(000)
Remeasurement gains/(losses)
- Actuarial (losses)/(gains)
60
- Return on plan assets excluding
85
amounts included in net interest
Amount recognised in the statement of total
recognised gains and losses
145
The amounts recognised in the balance sheet are as follows:
£(000)
Fair value of employer assets
1,463
Present value of funded liabilities
(1,353)
Net liability
110
Period ended
31 March 2022
31 March 2022
31 March 2022
Period ended
Period ended		 Amounts recognised in Statement of Financial Activities:
£(000)
Amount charged to resources
expended and included as part of
staff costs:
Current service cost
(43)
Amount charged to other finance costs:
Interest income on plan assets
27
Interest on pension obligation
(27)
Net cost
-
Amount charged within net movements of funds
(43)
Amounts recognised in Statement of Financial Activities:
£(000)
Remeasurement gains/(losses)
- Actuarial (losses)/(gains)
60
- Return on plan assets excluding
85
amounts included in net interest
Amount recognised in the statement of total
recognised gains and losses
145
The amounts recognised in the balance sheet are as follows:
£(000)
Fair value of employer assets
1,463
Present value of funded liabilities
(1,353)
Net liability
110
Period ended
31 March 2022
31 March 2022
31 March 2022
Period ended
Period ended		 Amounts recognised in Statement of Financial Activities:
£(000)
Amount charged to resources
expended and included as part of
staff costs:
Current service cost
(43)
Amount charged to other finance costs:
Interest income on plan assets
27
Interest on pension obligation
(27)
Net cost
-
Amount charged within net movements of funds
(43)
Amounts recognised in Statement of Financial Activities:
£(000)
Remeasurement gains/(losses)
- Actuarial (losses)/(gains)
60
- Return on plan assets excluding
85
amounts included in net interest
Amount recognised in the statement of total
recognised gains and losses
145
The amounts recognised in the balance sheet are as follows:
£(000)
Fair value of employer assets
1,463
Present value of funded liabilities
(1,353)
Net liability
110
Period ended
31 March 2022
31 March 2022
31 March 2022
Period ended
Period ended
£(000)
Period ended
31 March 2022		 £(000)
Period ended
31 March 2021
(43)
27
(27)
-
(43)		 (39)
26
(27)
(1)
(40)
£(000)
31 March 2022
Period ended		 £(000)
31 March 2021
Period ended
(196)
222
26
£(000)
31 March 2022
Period ended		 £(000)
31 March 2021
Period ended
1,463
(1,353)
110		 1,372
(1,389)
(17)

20

<Q<< O<ULU4f Z< J Z LL

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

12 Debtors

12
Debtors
Prepayments and accrued income
13
Creditors: amounts falling due within one year
Other creditors
Taxation and social security
Salaries and pensions
Accruals		 2022
£
5,639		 2021
£
875
5,639 875
2022
£
7,196
2,894
2,317
2,920		 2021
£
4,928
3,082
2,321
15,545
15,327 25,876

14 Analysis of net assets between funds-current year

Analysis of net assets between funds-current year
Tangible fixed assets
Net current assets
Net assets at the end of the year
Analysis of net assets between funds-prior year
Tangible fixed assets
Net current assets
Net assets at the end of the year		 General
Unrestricted
funds
£
225,258
140,423		 Pension
Reserve
£
-
110,000		 Restricted
Funds
£
-
96,020		 Total
Funds
£
225,258
475,681
365,681 110,000 96,020 571,701
General
Unrestricted
Funds
£
238,173
216,180		 Pension
Reserve
£
-
(17,000)		 Restricted
Funds
£
-
44,872		 Total
Funds
£
238,173
244,052
454,353 (17,000) 44,872 482,225

22

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

15 Movements in funds-current year


Restricted funds:
Furniture, fittings and equipment
Community garden
IT Tutor
Art classes
Music therapy
Activities
Chiropody
Catering Project
Gardening Therapy
Combi- Oven
Befriending Helpline
Care Manager
Care Support Worker
Marketing
Total restricted funds
Unrestricted funds:
General Fund
Pension reserve ( deficit)
Total unrestricted funds
Total funds
Movements in funds-prior year
Restricted funds:
Furniture, fittings and equipment
Minibus
Community garden
Information technology training for elderly
Art classes
Music therapy
Activities
Chiropody
Catering Project
Gardening Therapy
Total restricted funds
Unrestricted funds:
General Fund
Pension reserve ( deficit)
Total designated funds
Total unrestricted funds
Total funds		 £
19,447
3,275
-
2,847
3,477
8,363
16
5,757
1,690
-
-
-
-
-
At the start
of the year		 £
-
-
13,000
2,500
5,000
2,500
-
10,500
1,200
9,921
6,143
30,000
10,000
19,656
Incoming
resources
& gains		 £
(1,266)
(313)
-
(403)
(3,500)
(1,390)
-
(16,257)
-
-
(6,143)
(30,000)
-
-
Outgoing
resources &
losses		 £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Transfer		 £
18,181
2,962
13,000
4,944
4,977
9,473
16
-
2,890
9,921
-
-
10,000
19,656
At the end
of the
year
44,872 110,420 (59,272) - 96,020
454,353
(17,000)		 265,512
145,000		 (354,184)
(18,000)		 -
-		 365,681
110,000
437,353 410,512 (372,184) - 475,681
482,225 520,932 (431,456) - 571,701
£
21,825
67,666
3,275
307
4,348
3,477
8,363
16
1,690
At the start
of the year		 £
-
-
-
-
-
-
-
-
10,312
-
Incoming
resources
& gains		 £
(2,378)
(67,666)
-
(307)
(1,500)
-
-
-
(4,555)
Outgoing
resources &
losses		 £
-
-
-
-
-
-
-
-
-
-
Transfer		 £
19,447
-
3,275
-
2,848
3,477
8,363
16
5,757
1,690
At the end
of the year
110,966 10,312 (76,406) - 44,872
307,321
(31,000)		 516,882
26,000		 (369,850)
(12,000)		 -
-		 454,353
(17,000)
276,321 542,882 (381,850) - 437,353
276,321 542,882 (381,850) - 437,353
387,287 553,194 (458,256) - 482,225

23

SUDBURY NEIGHBOURHOOD CENTRE (MIDDLESEX) LIMITED Notes to the financial statements For the year ended 31 March 2022

16 Legal status of the charity

The charity is a company limited by guarantee and has no share capital.

17 Related party transactions

Direct charitable expenditure includes £55,520 in respect of rent payable to Sudbury Methodist Church. The trustees of the Sudbury Methodist Church who are also on the board of trustees of Sudbury Neighbourhood Centre (Middlesex) Limited are Revd. K Tekyi- Ansah.

24