**THE SELSDON CENTRE TRUST A Company Limited by Guarantee Registered Company No. 4149038**
**REPORT AND STATEMENT OF FINANCIAL ACTIVITIES 31 MARCH 2023**
## **THE SELSDON CENTRE TRUST**
## **FINANCIAL STATEMENTS 31st MARCH 2023**
**Directors** Mr A Brookes Mrs P.Cook Mrs J Bailey Mr N Bonneywell Revd Younis Francis appointed 16th November 2022 Mr J Pullen Ms C Lumiste Mrs S Tilley **Company Secretary** vacant **Main Operating Premises** Selsdon Centre for the Retired 132 Addington Road Selsdon , CR2 8LA **Bankers** Barclays Bank plc 188 Addington Road Selsdon, CR2 8LV **Independent Examiner** Ryefield Ltd Chartered Certified Accountants Unit 139 Airport House Purley Way Croydon CR0 0XZ **Registered Charity Number** 1087131 **X TO THE FINANCIAL STATEMENTS Page 1** Index and company data. **2/4** Directors'/Trustees' report. **5** Independent examiner's report. **6** Statement of financial activities for year t 31st March 2023 **7** Balance sheet as at 31st March 2023 **8/10** Notes to financial statements. **11** Detailed income & expenditure account. (not part of statutory set)
Page 1
## **THE SELSDON CENTRE TRUST**
## **DIRECTORS'/TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **Directors and Trust**
The Selsdon Centre Trust was constituted by Deed of Trust dated 6 July 1981 and is a Registered Charity No 1087131. On 29 January 2001 the Trust became a Company limited by Guarantee,
Company No 4149038. The names of the Directors and the company address are as stated on page 1.
## **Report of the Trustees for the year ending 31 March 2023.**
The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31 March 2023 which are also prepared to meet the requirements for a Directors’ report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **Organisation and decision making strategy**
Detailed day to day management of the company was previously carried out by a committee, appointed by the Board and entitled ('The Management Committee'). On 12th July 2016 the Board passed the
following resolution:-
"The Board of the Selsdon Centre Trust considered the role of the Management Committee and its relationship with the Board and, in particular, its impact on the management of the Centre. Many of the functions previously carried out by this Committee are now dealt with directly by the Board. After careful consideration, it was unanimously resolved that, in accordance with the Articles of Association,
the Management Committee be wound up with immediate effect. All matters of governance and promotion will forthwith be dealt with directly by the Board". The Board meet on a bi-monthly basis to consider all matters relating to all the Board's activities and responsibilities..
There are four part time, paid members of staff namely, Mr Craig Anderson serving as Centre Manager, Mrs Sarah Pearce and Mrs Jane Bird serving as Deputy Managers and Mrs Susan Freegrove was appointed from 1st July 2021 to promote events at the Centre.
## **Principal activity**
The principal activity of the company is the operation of a community centre primarily for retired people of the London Borough of Croydon.
## **Objectives**
The objects of the Company are:
- a) to promote any charitable purpose for the benefit of retired people who inhabit the area falling within a radius of one and a half miles of Selsdon Library in Selsdon, Greater London, and
- b) to provide leisure and recreation facilities in the interest of social welfare for inhabitants of the above-mentioned area, and in particular but not exclusively, elderly people.
## **Review of activities and progress**
The 3 day week for clients, which started after Covid concerns had subsided, still remains popular with our clients and numbers have returned broadly to previous levels.
The introduction of special events including music, bingo sessions and some changes to the menu have stimulated higher attendances for those events. An ongoing concern for the Board is the need to recruit more volunteers to replace those unable to continue giving their time to charitable service. Without the volunteers our capacity to provide this service to our local elderly folk is under threat.
Page 2
**THE SELSDON CENTRE TRUST**
## **DIRECTORS'/TRUSTEES' REPORT - continued**
## **Review of financial activities**
The need for our services is self evident as we meet our clients and their relatives.
Croydon Council's withdrawal of general support of the Centre has been partially replaced by a rent subsidy for this year. However, for the future, this subsidy is being withdrawn, along with long standing partial rate relief we have enjoyed for many years. The Directors continue to look for alternative sources of funds but the options are limited.
The Council has notified us that they will not seeking to recover the unpaid earlier years services charges and this allows us to remove the provision made in previous years for this potential expense. This amounts to £22,500 and is shown as a special write back in the accounts.
The total income for the year was £62,020 and with total expenditure of £68,622, this results in a trading loss
- of £6,602 for the year. The effect of the write back referred to above,then produces a surplus position of £15,898 .
## **Reserves policy**
The policy of the company regarding Capital Reserves is outlined in note 1(f) of the accounts. The previous policy with the General Reserve was to endeavour to maintain at least a level equivalent to six months expenditure. Given that the General Reserve is now is deficit, the other unrestricted funds for Capital will be considered to be the cover.
## **Risks**
The Directors continue to assess the risks to which the Charitable Trust is exposed. This includes the potential risks to the Trust which are posed by the uncertainties in the investment markets. They have concluded that their policies remain prudent and reasonable in the current circumstances.
## **Responsibilities for producing financial statements**
The Directors prepare accounts which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for that period . In preparing those accounts, the Directors are required to :
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonably prudent; and
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the accounts; and
- prepare accounts on a going concern basis unless it is appropriate to assume that the Charity will not continue in operation.
The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with current legislation.
The Directors are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3
## **THE SELSDON CENTRE TRUST**
## **DIRECTORS'/TRUSTEES' REPORT**
## **Appreciation**
The Directors wish to place on record their appreciation of the efforts of the volunteers, the dedication of the paid staff and the generosity and goodwill of local community support.
Without these, the Selsdon Centre for the Retired could not continue to function and the gratitude of the Directors is extended to them all.
This report was approved by the Board of Directors on and signed on their behalf.
signed signed ............................................ …………………………… **Chairman Acting Treasurer**
Page 4
## **THE SELSDON CENTRE TRUST FOR THE YEAR ENDED 31 MARCH 2023**
## **Independent examiner's report to the trustees**
I report on the accounts of the Trust for the period ended 31 March 2023, which are set out on pages 6 and 7.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Name: Leslie John Tasker FCCA**
## **Date**
Relevant professional qualification or body: Association of Chartered Certified Accountants Address: Ryefield Ltd, Unit 139, Airport House, Purley Way, Croydon, Surrey, CRO 0XZ Date:
Page 5
## **THE SELSDON CENTRE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**General**
**Other**
**Notes**
**Fund**
**Funds**
**£**
**£**
**INCOMING RESOURCES**
Donations and legacies
11,491
Activities to further charity's objectives
**2**
34,895
Activities to generate funds
15,267
Investment income
367
**Total incoming resources**
62,020
**RESOURCES EXPENDED**
**Costs of generating funds**
Fundraising costs
6,670
**Charitable expenditure**
Activity costs to further charity's objectives
2,343
Support costs
**3**
50,293
Minibus direct costs
8,332
**Administration**
Examiner fee
984
**Total resources expended**
**4**
68,622
-
**Special write back Service Charges**
**(22,500)**
**Net movement in funds**
**11**
15,898
-
At 1 April 2022
(19,362)
75,620
Fund transfers
-
**Balance at 31 March 2023**
(3,464)
75,620
**Unrestricted**|**General**
**Other**
**Notes**
**Fund**
**Funds**
**£**
**£**
**INCOMING RESOURCES**
Donations and legacies
11,491
Activities to further charity's objectives
**2**
34,895
Activities to generate funds
15,267
Investment income
367
**Total incoming resources**
62,020
**RESOURCES EXPENDED**
**Costs of generating funds**
Fundraising costs
6,670
**Charitable expenditure**
Activity costs to further charity's objectives
2,343
Support costs
**3**
50,293
Minibus direct costs
8,332
**Administration**
Examiner fee
984
**Total resources expended**
**4**
68,622
-
**Special write back Service Charges**
**(22,500)**
**Net movement in funds**
**11**
15,898
-
At 1 April 2022
(19,362)
75,620
Fund transfers
-
**Balance at 31 March 2023**
(3,464)
75,620
**Unrestricted**|**Restricted**
**Minibus &**
**other**
**Fund**
**2023**
**Total**
**Funds 2022**
**£**
**£**
**£**
-
11,491
9,061
34,895
28,928
15,267
9,875
367
318|
|---|---|---|
||62,020|-
62,020
48,182|
||6,670
2,343
50,293
8,332
984|6,670
2,551
2,343
5,001
-
50,293
43,545
-
8,332
7,946
984
908|
||68,622
-|-
68,622
59,951|
||**(22,500)**
15,898
-
(19,362)
75,620
-|**(22,500)**
-
15,898
(11,769)
18,945
75,203
86,972
-
-
-|
||(3,464)
75,620|18,945
91,101
75,203|
The Notes to the Accounts form part of these Financial Statements
Page 6
## **THE SELSDON CENTRE TRUST**
**BALANCE SHEET - 31 MARCH 2023**
|**Notes**
**Fixed Assets**
Tangible assets
**1,5**
**Current Assets**
Cash at bank and investments
**7,**
Stock, Debtors and prepayments
**8,**
**Current Liabilities**
Creditors
**9,**
**Net Current Assets**
**NET ASSETS**
**Capital and Reserves**
Share Capital
**10,**
**Unrestricted funds - Capital**
Capital reserve fund
**1,11**
Minibus fund
**1,11**
**Sub total - designated funds**
General fund
**1,11**
**Restricted fund**
Minibus fund
**1,11**
Other Funds
**1,11**
**CHARITY'S FUNDS**|**£**
78,611
3,763|**2023**
**£**
11,363
79,738
91,101
-
75,620
-
75,620
(3,464)
-
18,945|**2022**
£
12,499
82,879
3,309|
|---|---|---|---|
||82,374
2,636||86,188
23,484|
||||62,704|
||||75,203|
||||-
75,620
-|
||||75,620
(19,362)
-
18,945|
|||91,101|75,203|
The Directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006. Shareholders holding 10% or more of the company's issued share capital have not issued a notice requiring an audit under section 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its result for the period in accordance with the requirements of the Act and which otherwise comply with the requirements of the Act relating to the accounts so far as applicable to the company.
The financial statements, which have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies, were approved by the Board on
Signed:
Signed
……………………………. ……………………………………… **Chairman Acting Treasurer**
Page 7
## **THE SELSDON CENTRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **(a) Basis of preparation of financial statements**
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) and the Companies Act 2006. The Selsdon Centre Trust meets the definition of a public benefit entity under FRS 102.
Reconciliation with previous Generally Accepted Accounting Practice. In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was not required.
## **(b) Tangible fixed assets and depreciation**
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at the following annual rates: Building plant Over the lease term 30 years Furniture, fixtures and equipment 10% on cost Computer equipment 25% on cost
## **(c) Income**
Income is credited to the Statement of Financial Activities generally on the date it is received.
## **(d) Donations in kind**
Donations in kind are valued at nil cost to the Trust. A record of such assets is kept by the Trustees. When such assets are sold the proceeds are brought in as donation income in the Statement of Financial Activities.
## **(e) Expenditure**
Expenditure is charged to the Statement of Financial Activities inclusive of Value Added Tax.
## **(f) Capital funds - Designated**
The capital reserve fund represents amounts set aside for replacement of the fixed assets and is equal to the relevant tangible assets at their gross book value.
The minibus fund had been set up originally to allow for the estimated funds to be available to replace the vehicle in due course. In the event, the Directors chose to finance the acquisition of a new minibus by way of contract hire rather than an outright purchase. Under these arrangements, the leasing company become responsible for ongoing maintenance and regular inspection costs.
## **(g) Realised gains and losses**
All gains and losses are taken to Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value (purchase date if later).Unrealised gains and losses are calculated as the difference between the market value at the year end opening market value (or purchase date if later). Realised and unrealised gains are not separated in the Statement of Financial Activities.
Page 8
## **THE SELSDON CENTRE TRUST**
## **NOTES TO FINANCIAL STATEMENTS - 31 MARCH 2023**
## **2. GRANTS AND ALLOWANCES**
No General Grant was received from the London Borough of Croydon. A rent susidy was paid as a partial replacement.
## **3. EMPLOYEES REMUNERATION**
4 part time staff were employed by the Charity. The total of employees remuneration (including employers national insurance contributions) for the year amounted to £37,584.
## **4. DIRECTORS' REMUNERATION**
No remuneration or benefits were received by the Directors during the year. Any expenses paid were re-imbursement for costs incurred.
## **5. FIXED ASSETS - TANGIBLE**
|**Cost**
At 1 April 2022
Additions in the year
Disposal
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
Disposal
At 31 March 2023
Net book value at 31 March 2023
Net book value at 31 March 2022|**Furniture**
**Building fixtures & Computer**
**plant**
**equipment equipment Minibus**
**Total**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||34,085
35,928
6,026
76,039
-
-
-
-
-
-
-
-
-
-|
||34,085
35,928
6,026
-
76,039|
|||
||21,586
35,928
6,026
-
63,540
1,136
-
-
1,136
-
-|
||22,722
35,928
6,026
-
64,676|
||**11,363**
**-**
**-**
**-**
**11,363**|
||12,499
-
-
-
12,499|
## **6 SERVICE CHARGES**
The Directors have considered the provision they make for potential outstanding claims for the service charges payable under their lease. They have now been advised that it will not be charged. therefore it has been written back in these accounts.
Page 9
## **THE SELSDON CENTRE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**7.**
**CASH AT BANK AND IN HAND**
Charities Official Investment Fund Account
Virgin Money
Barclays Bank No 2 Current Account
Barclays Bank Business Premium Account
Cash in hand|**2023**
**£**
8,121
-
70,407
83
78,611|**2022**
**£**
8,121
54,920
19,790
-
48|
|---|---|---|
|||82,879|
Investment cash balances held have been redesignated into the above category.
## **8. STOCK,DEBTORS AND PREPAYMENTS**
|Debtor
Stock
**9.**
**CREDITORS**
Accruals
Sundry Creditors
Provisions for future costs|1,433
2,330
3,763
2,636
-
2,636|2,123
1,187|
|---|---|---|
|||3,310|
|||984
22,500|
|||23,484|
## **10. SHARE CAPITAL**
The company is limited by guarantee and as such has no share capital issued.
## **11. FUNDS**
|**FUNDS**|||||||
|---|---|---|---|---|---|---|
||**--------------Unrestricted----------**|||**Restricted**|||
||||||**Other**||
||**Capital**|**General **|**Minibus**|**Minibus**|**Funds**|**Total**|
||**Reserve**|**Fund**|**Fund**|**Fund**|||
||**£**|**£**|**£**|**£**|**£**|**£**|
|At 1 April 2022|75,620|(19,362)|-|-|18,945|75,203|
|minibus disposal||||||-|
|Restricted items in year||||||-|
|Surplus for the year||15,898||||15,898|
|31st March 2023|75,620|(3,464)|-|-|18,945|91,101|
-
The trustees have designated that two funds (Capital & Minibus) shall be set aside for the specific purposes as outlined in note 1(f). Transfers are made in line with these purposes.
## **12. RELATED PARTY TRANSACTIONS**
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year.
## **13. TAXATION**
As a charity, THE SELSDON CENTRE TRUST is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.
Page 10
## **THE SELSDON CENTRE TRUST**
## **DETAILED INCOME AND EXPENDITURE ACCOUNT**
## **FOR THE YEAR ENDED 31 MARCH 2023**
|**Incoming Resources-Income**
**Donations**
Donations
Legacies
Contributions from minibus users
**Activities to further charity's objectives**
Meals in Centre
Refreshment sales
IT Courses
LB Croydon /Other Grants
Job Retention Scheme Grant
Covid Response Grant
**Activities to generate funds**
Fundraising income
Use of hall by outside parties
**Investment Income**
Interest
Total income
**Resources expended- Expenditure**
**Costs of generating funds**
Fundraising costs
**Charitable expenditure**
**Activity costs to further charity's activities**
Lunch supplies
IT Courses
**Other Activities**
teaching costs
**Support costs**
Staff salaries and national insurance
Rent
Repairs and Maintenance
Insurance
Telephone
Print postage and stationery
Cleaning
Service charge
Building / Equipment depreciation
Other expenses
**Minibus direct costs**
Insurance
Diesel
Repairs and maintenance
Lease rentals
**Administration**
Examiner fee
Total expenditure
Special write back service charges
**Surplus/(Deficit) for the period**|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**£**
**£**
6,797
4,694
**2023**|**Total**
**2023**
**`**
**£**
6,797
4,694|**Total**
**2022**
**£**
5,833
3,228|
|---|---|---|---|
||11,491
-|11,491|9,061|
||14,465
1,085
267
9,178
9,900|14,465
1,085
267
9,178
-
9,900|12,159
1,201
300
13,085
1,774
409|
||34,895
-|34,895|28,928|
||2,907
12,360|2,907
12,360|2,145
7,730|
||15,267
-|15,267|9,875|
||367|367|318|
||62,020
-|62,020|48,182|
||6,670|6,670|2,551|
||1,760
156
427|1,760
156
-
427|4,845
156
-
-|
||2,343
-|2,343|5,001|
||38,552
600
2,713
1,172
920
487
4,286
-
1,136
427|38,552
600
2,713
1,172
920
487
4,286
-
1,136
427|32,633
600
953
1,078
818
1,210
3,286
-
1,136
1,831|
||50,293
-|50,293|43,545|
||993
1,036
684
5,619|993
1,036
684
5,619|-
1,090
596
641
5,619|
||8,332
-|8,332|7,946|
||984
-|984|-
908|
||68,622
-
(22,500)|68,622
(22,500)|-
59,951
-|
||**15,898**
**-**|**15,898**|**(11,769)**|
Page 11