THE SELSDON CENTRE TRUST A Company Limited by Guarantee Registtred Conipally No. 4149038 REPORT STATEMENT OF FINANCIAL ACTIVITIES 31 MARCH 2024 'AD]2KWT* 30112r2024 COMPANIES HOUSE A12 #32 THE SELSDON CENlllE TRUST FINANCIAL STATEMEiYrs YEAR EI¥DED 31 MARCH 2024 Directors Mr A Brooke5 (resigned 27 October 2024) Mrs P Cook (resigned 27 October 2024) Mrs J Bailey (resigned I l March 2024) Mr N Bonneywell (resigned 27 October 2024) Revd Younis Francis (resigned 27 October 2024) Mr J Pullen Ms C Lumiste (appointed I l March 2024) Mrs S Tilley Mr T Crayford (appointed 3 January 2024) Ms S Phillips (appointed I l March 2024) Ms F Sinclair (appointed I l March 2024) Mr T Stotten (appointed I l March 2024) Company Seeret&iry Mr T Stotten (appointed 27 O¢tober 2024) Main OperatiDg Premises Selsdon Centre for the Retired 132 Addington Road S¢lsdon , CR2 8LA Bankers Barclays Bank plc 188 Addington Road Selsdon. CR2 8LV Independent Examiner MJS Associates Chartered Certified Accountants Fagle House Cranleigh Close Sanderstead CR2 9LH Registered Charity Number 1087131 INDEX TO THE FINANCIAL STATEMENTS Page Index and company data. 214 Directors'rrrustees, report. Independent examinerfs report. Statement of financial activities for year to 31 st March 2024 Balance sheet as at 31 st March 2024 8110 Notes To financial statements. 11 Detailed income & expenditure account. (not part of statutory set) Page I THE SEiSDON CENTRE TRUST DIRECTORS'rrRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Directors and Trust The Selsdon Centre Trust w&s constituted by Deed of TnL8t 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 &s stat¢d on page l. Report of the Trustees lor the year ending 31 March 2024. The trustees are pleased to present their annual directors. rew)rt together with the financial statements of the charity for the year ending 31 March 2024 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 Memordndum and Articles of Association and the Accounting and Reporting by Charities: Ststement 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 I 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 impart on the management of the Centre. Many of the fimctions previously carried out by this Committee are now dealt with directly by the Board. After careful considerntion, it was unanimously resolved thaL in accordance with the Articles of Association, the Management Committee be wound up with immedia* 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 stsff namely, Mr Craig Anderson serving &s Ceutre 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 charitsble purpose for the benefit of retired people who inhabit the area falling within a rna1￿ of one and a half miles of Selsdon Librdry in Selsdon, Greater Londo￿ and b) to provide leisure and recreation facilities in the interest of social welfare for inhabitants of the above-mentioned are4 and in particular but not exclusively. elderly people. Review of aetivities and progress The 3 day week for clients. which started after Covid concerns had subside(L 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 servir£. Without the volunteers our capacity to provide this service to our local elderly folk is under threat. Page 2 THE SELSDON CENnlE TRUST DIRECTORS'rrRUSTEES' 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 £46,436 and with total expenditur¢ of £86,225, this results in a deficit of £39,789. Reserves policy The policy of the company regarding Capital Keserves is outlined in note l(fj of the accounts. 'I'he previous policy with the Genernl Reserve was to endeavour to maintain at least a level equivalent to six months expenditure. Given that the General Reserve is now is deficiL the other unrestricted funds for Capital will be considered to be the cover. Risk8 The Directors continue to assess the risks to which the Charitable Trnst is exposed. This includes the potential risks to the Trust which are posed by the uncertainties in the investment markets. They have concludcd that their policies remain prudent and reasonable in the current Circumstances. Responsibilities for produeing financial statements The DirectOTS 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 r￿sonablY prudent. and state whether applicabl¢ accounting standards have been followed, subject to any material departures disclosed and explained in the accounts. and - prepare accounts on a going concern b&sis unless it is appropriate to assume that the Charity will not continue in operdtion. 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 tsking reasonable steps for the prevention and det¢ction of fraud and other irregularities. Page 3 THE SELSDON CENTRE TRUST DIREcfoRS'rrRUSTEES' 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 Retir¢d could not continue to fi￿ctIOn and the gratitude of the Directors is extended to them all. This report w&$ appmved by the Board of Directors on and signed on their behalf. signed signed Chairman ActiDg Treasurer Page 4 THE SELSDON CENTRE TRUST FOR THE YEAR ENDED 31 MARCH 2024 Independent examiner's report to the trnstees I report on the accounts of the Tn]st for the year ended 31 March 2024, which are set out on pages 6 to 10. Respective rnSPODsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's tn￿teeS 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 201 l Act. to follow the procedures laid down in the generdl Directions given by the Charity Commission under section 145(5Xb) 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 accoTdance 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 ifrms 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 Irue and fair view, and the ￿￿)rt is limited to those matters set out in the statement below. Independent examiner's statement In connection with my examinatio￿ no matter h&$ come to my attention: ( l) 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 Tecords and comply with the accounting requirements of the 201 l 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. JaLUAS 202 Rebecca Cossins FCCA Date Relevant professional qualification or body: Association of Chartered Certifi¢d Accountants Address: MJS Associates. Eagle House, CranleiRh Close, sanderStea￿ CR2 9LH Page 5 THE SELSDON CEiYfRE TRUST STATEMElYt OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted Total Funds General Fund Capital Reserve Other Fund Notss 2024 2023 INCOMING RESOURCES Donations and legacies Activities to further charity's objectives Activities to generate funds Investment income 11,764 20,421 14,073 178 11,764 20,421 14,073 178 11,491 34,895 15,267 367 Total incoming resources 46,436 46,436 62,020 RESOURCES EXPENDED Costs of generating funds Fundraising costs Charitable expendithre Activity costs to further charity's objectives Support costs Minibus direct costs Administration Examiner fee 5,618 5,618 6,670 5,496 65,485 8,957 5,496 65,485 8,957 2,343 50,293 8,332 670 670 984 Total resources expended 86,225 86,225 68,622 Special write back Service Charges (22 ￿00) Net movement in fuDds At l April 2023 Fund transfers li (3,464) (39,789) 39.789 75.620 18,945 91,101 (39.789) 15,898 75.203 (39,789) Balance at 31 March 2024 3,464 35,831 18,945 51,312 91,101 The Notes to the Accounts forn) part of these Financial Statements Page 6 THE SELSDON CENTRE TRUST BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed Assets Tangible assets IJ 10.227 11,363 Current Assets Cash at bank and investments StocK debtors and prepayments 72.334 3,133 75,467 78,611 3,763 82,374 Current Liabilities Creditors 34,382 2,636 Net CurreDt Assets 41,085 79,738 NET ASSETS 51,312 91,101 Unrestricted funds - Capital Capitsl reserve fund General fund Restricted fund Other Funds 1,11 1,11 35,831 (3.464) 75.620 (3,464) 1,11 18,945 18,945 CHARITY'S FUNDS 51,312 91,101 The Directors consider that the company is ¢ntitl¢d to exemption from the requirement to have an audit under the provisions of section 477 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 b¢¢n prepared in accordance with the special provisions of the Companies Act 2006 applicable to small companies. were approved by the Board on signed on its behalf. Signed: Chairnia Acting Treasurer Page 7 THE SELSDON CENTRE TRUST OTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES (a) Basis of prep8r8tion of fin*neial statements The financial statements have been prepared in ac￿rdanCe 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 Tn￿t meets the definition of a public benefit entity under FRS 102. accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the c.harities SOR.P FRS 102 the re