REGISTERED CHARITY NUMBER: 1086612
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
FOR
NORTH SOUTHWARK ENVIRONMENT TRUST
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
NORTH SOUTHWARK ENVIRONMENT TRUST
CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31 March 2023
| Page | |||
|---|---|---|---|
| Reference and administrative details | 1 | ||
| Report of the trustees | 2 | to | 3 |
| Independent examiner's report | 4 | ||
| Statement of financial activities | 5 | ||
| Statement of financial position | 6 | ||
| Notes to the financial statements | 7 | to | 10 |
| Detailed statement of financial activities | 11 |
NORTH SOUTHWARK ENVIRONMENT TRUST
REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31 March 2023
TRUSTEES
W Menteth Ms K Whittam W Jennings (resigned 19.7.23) Mrs J Eyles Cllr N Ali (appointed 13.6.23)
PRINCIPAL ADDRESS 20 Upper Church Road St Leonards on Sea Kent TN37 7AS
REGISTERED CHARITY 1086612 NUMBER INDEPENDENT EXAMINER Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
Page 1
NORTH SOUTHWARK ENVIRONMENT TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
Improvement
Improvement of the environment for the benefit of the public including the promotion of energy efficiency and efficient methods of disposing of waste;
Provision
Provision of facilities for education, recreation or other leisure time occupation, in the interests of social welfare.
Promotion
Promotion and support of actions by others to create, preserve and improve features and facilities of environmental amenity and for recreation or other leisure time occupation in the interests of social welfare.
NSET seeks to achieve these objects within the area of the London Borough of Southwark being to the north of the road or roads known as Camberwell New Road, Camberwell Church Street, Peckham Road, Peckham High Street and Queens Road.
Applications for financial assistance for projects and activities benefiting or taking place within this area will be considered by the Trustees and every attempt is made to reach a decision within four weeks of an application being received. Applications must be from organisations which are charitable and/or non-profit distributing.
Public benefit
The Trustees consider that the objectives and aims of the charity describe above, enable it to meet its obligations to the Charity Commission to deliver aid and assistance to the people of the London Borough of Southwark being to the north of the road or roads known as Camberwell New Road, Camberwell Church Street, Peckham Road, Peckham High Street and Queens Road.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
Grants of £28,885 were paid in the year to a number of organisations.
FINANCIAL REVIEW
Reserves policy
The Trust's reserves have been set in accordance with the Trust's reserve policy, which is formulated pursuant to Charity Commission guidance.
The Charities Incoming Resources amounted to £66,481 (2022 - £25,447). Outgoing expenditure on charitable activities during the year was £28,885 (2022 - £nil).
FUTURE PLANS
The Charity continues to seek additional funding to ensure that we can maintain delivery of high quality support.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Recruitment and appointment of new trustees
Trustees are recruited via the Annual General Meeting according to its governing documents. Induction and training of the Trustees takes place during the Trustees meetings.
Organisational structure
The charity is controlled by the Trustees who are independent and receive no remuneration for their involvement. Day-to-day management is delegated to Linda Cordery.
Page 2
NORTH SOUTHWARK ENVIRONMENT TRUST
REPORT OF THE TRUSTEES for the year ended 31 March 2023
Approved by order of the board of trustees on 18 December 2023 and signed on its behalf by:
Ms K Whittam - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTH SOUTHWARK ENVIRONMENT TRUST
Independent examiner's report to the trustees of North Southwark Environment Trust
I report to the charity trustees on my examination of the accounts of North Southwark Environment Trust (the Trust) for the year ended 31 March 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material 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 Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Ricky Hutson The Institute of Chartered Accountants in England and Wales
Berringers LLP Chartered Accountants Lygon House 50 London Road Bromley Kent BR1 3RA
18 December 2023
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NORTH SOUTHWARK ENVIRONMENT TRUST
STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023
| 2023 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 66,481 EXPENDITURE ON Charitable activities Grants to individuals 28,885 NET INCOME 37,596 RECONCILIATION OF FUNDS Total funds brought forward 67,798 TOTAL FUNDS CARRIED FORWARD 105,394 |
2022 Total funds £ 25,447 |
|---|---|
| - | |
| 25,447 42,351 |
|
| 67,798 |
The notes form part of these financial statements
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NORTH SOUTHWARK ENVIRONMENT TRUST
STATEMENT OF FINANCIAL POSITION 31 March 2023
| 2023 Unrestricted fund Notes £ FIXED ASSETS Investments 5 25 CURRENT ASSETS Debtors 6 25,945 Cash at bank 79,449 105,394 CREDITORS Amounts falling due within one year 7 (25) NET CURRENT ASSETS 105,369 TOTAL ASSETS LESS CURRENT LIABILITIES 105,394 NET ASSETS 105,394 FUNDS 8 Unrestricted funds 105,394 TOTAL FUNDS 105,394 |
2022 Total funds £ 25 9,465 58,333 67,798 (25) 67,773 67,798 67,798 67,798 67,798 |
|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 18 December 2023 and were signed on its behalf by:
K Whittam - Trustee
The notes form part of these financial statements
Page 6
NORTH SOUTHWARK ENVIRONMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. GRANTS PAYABLE
| GRANTS PAYABLE | |||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Grants to individuals | 28,885 | - |
There were grants of £28,885 paid to individuals in 2023 (2022 - NIL).
continued...
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NORTH SOUTHWARK ENVIRONMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
3. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |||
|---|---|---|---|
| fund | |||
| £ | |||
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 25,447 | ||
| NET INCOME | 25,447 | ||
| RECONCILIATION OF FUNDS | |||
| Total funds brought forward | 42,351 | ||
| TOTAL FUNDS CARRIED FORWARD | 67,798 | ||
| 5. | FIXED ASSET INVESTMENTS | ||
| Unlisted | |||
| investments | |||
| £ | |||
| MARKET VALUE | |||
| At 1 April 2022 and 31 March 2023 | 25 | ||
| NET BOOK VALUE | |||
| At 31 March 2023 | 25 | ||
| At 31 March 2022 | 25 | ||
| There were no investment assets outside the UK. | |||
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2023 | 2022 | ||
| £ | £ | ||
| Amounts due to/from group | 25,945 | 9,465 |
continued...
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NORTH SOUTHWARK ENVIRONMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Other creditors | 25 | 25 | |
| 8. | MOVEMENT IN FUNDS | ||
| Net | |||
| movement | At | ||
| At 1.4.22 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 67,798 |
37,596 | 105,394 | |
| TOTAL FUNDS 67,798 |
37,596 | 105,394 | |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 66,481 |
(28,885) | 37,596 | |
| TOTAL FUNDS 66,481 |
(28,885) | 37,596 | |
| Comparatives for movement in funds | |||
| Net | |||
| movement | At | ||
| At 1.4.21 | in funds | 31.3.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 42,351 |
25,447 | 67,798 | |
| TOTAL FUNDS 42,351 |
25,447 | 67,798 | |
| Comparative net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund 25,447 |
- | 25,447 | |
| TOTAL FUNDS 25,447 |
- | 25,447 |
continued...
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NORTH SOUTHWARK ENVIRONMENT TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 March 2023
8. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.4.21 | in funds | 31.3.23 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 42,351 | 63,043 | 105,394 |
| TOTAL FUNDS | 42,351 | 63,043 | 105,394 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 91,928 | (28,885) | 63,043 |
| TOTAL FUNDS | 91,928 | (28,885) | 63,043 |
9. RELATED PARTY DISCLOSURES
At the year end North Southwark Environment Trust was owed £25,946 (2022 - £9,465) by Landlord Limited, a wholly owned subsidiary.
A donation of £66,481 was received from Landlord Limited.
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NORTH SOUTHWARK ENVIRONMENT TRUST
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 March 2023
| for the year ended 31 | March 2023 | |
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 66,481 | 25,447 |
| Total incoming resources | 66,481 | 25,447 |
| EXPENDITURE | ||
| Charitable activities | ||
| Grants paid | 28,885 | - |
| Total resources expended | 28,885 | - |
| Net income | 37,596 | 25,447 |
This page does not form part of the statutory financial statements
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