THE SELSDON CENTRE TRUST A Company Limited by Guarantee Registered CompAlly No. 4149038 REPORT AND STATEMENT OF FINANCIAL ACTIVITIES 31 MARCH 2025
THE SELSDON CENTRF. TRUST FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Directors Mrs Wendy Crayf()rd Mr I. Cr(iyford - Chiiir Ms C Lumiste { Vice Chair) Ms S Phillips Ms F Sinclair (appointed I l March 2024) Mr J Pullen Mrs S Tilley Company Secretary Mr'l. Stotten Main Operating Premiscs Selsdon Centre f()r the Retircd 132 AddingFion Road Selsdon , CR2 8LA Bankers Barclays ljank plc 188 Addingion Road Selsdon, CR2 81.V Independent Examiner MJ8 Associales Chartered Certified Accountanls Eagle House Lranleigh Closc SanderstLad CR2 91.11 Registered Charity Number 1087131 JNDEX TO THE FINANCIAL,STATFMENTS Page Index and company data. 214 Dircctors'/Trustces' report. Independent examinerfs report. Statcmenl of financial activities for year to 31 st March 2025 Balance 8hect as at 31 st March 2025 8110 Notes to financial statcments. 11 Detailed income & ¢xpenditure account. (not part of statutory set) Page I
THE SELSDON CENTRE TRUST DIRECTORS'rrRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024 Directors and Trust The Selsdon Centre Trust was constituted by Deed of Tnist dated 6 July 1981 and is a Regislered Charity No 1087131. On 29 January 2001 the Trust became a Company limiled by Guarantee, Company No 4149038. '1'he names of the Directors and the company address are as stated on page l. Report of the Trustees for the year ending 31 Mareh 2025. Tl)e trustees are plca5ed to pre.%ent thcir dnnual dircctors, report tog¢ther with the financial statements of the charity for the year ending 31 March 2025 which are alsn preparcd to meei the requirem¢nls for a DireLtors' report and accounts for Companies Act purposes. I'he financial statcments comply with thc Charities Acl 2111 I, the Companies Act 2006, the Mcmoraiidum and Articles of Association and the Accounting and Reporting by Charities: Sialcment of Recommended Practice applicable to Charities preparing their aLcounts in accordance with the P inancial Reporting applicable in the UK and Kepublic of Ircland (FRS 102) (effective I January 2015). Organlsation and decislon makin% strategy Detailed day to day managcment ofthe company was prcviously Caled oul by il committcc, appoint¢d by thc Board and enlilled ('The Mana&)ement Committee,), On 12th July 2016 the Board pa88cd the following rcsolution:. Th¢ Board of the Sclsdon Ccntre Trust con8idered the rolc of the Managemcnt Cominittee and its reldtionship with the Board and, in partlLular, its impaLt on the rnanagemenl of the CL'ntre. Many ot'lhe funclions previously carried oul by thi5 CommiltC¢ Lire iiow deiilt with directly by the Eloard. After carefiil considcration, il was unanimously rc%olved Ihat, in accordiincc witli the Articles of A%soLidtion, the MdnagiemLnt Committee be wound up with immediale effecl. All mattcr.8 ()f gyovernanLC and promotion will torthwith bc dealt with dircctly by Ihc Board" I'hc Board mcct i)n a bi-m()nthly basis t() con.4ider all m(Illcrs relating to all the Board'.8 aLtivilics and rc8p(Trnsibililies. There is one full-time member of staff, the &>cneral maniiger, and two part-time members of staff. Principal getivity Thc principal activity of th¢ company 18 the operation of a community centrc primarily for older peoplc of the London Borough uf Croydon. Objeelives The objects of the Company are.. a) to promote any charitable pury)ose for the bencfii vf rctired people who live within 1.5 milcs of Selsdon Library in Sclsdon. Greater London, and b) to provide leisure and rerrealion facilities in the intercsi of social welfare for inhabitants of the abovc-mentioned arca, and in particular but not exclusively. elderly people. Review of actlvlties ond progress The 3-day week for clients, which started after Covid concerns had subsidcd, still remain8 popular with our clients and numbers have returned broadly to previous Icvels. In order to manage the loss of grant income from the Council, we plan to increase opening to 5-days per week The introduction of special events including music, bingo sessions and some changes to the rnenu have stimulated higher altendances for those events. An ongoing concern for the Board i.s the need to recruit more volunteers to replace those unable to continue giving iheir 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'rrRUSTEES' REPORT - continued Review of financial activities I'he need for our serviccs is self cvidenl as we mccl our ¢licnts and their relativ¢s. Croydon Council's withdraw<il of gcncral 5UPPOrt of the Centrc reinains a problem. and thc centr¢ is running at a monthly deticit of around £2,000. Thc council still offers us a significant reduction on market rent, allhough some uncertainty rcmains as to how long this will continue. Thc Directors conlinue to look for altcrnativ¢ sources of t.unds but Ihe ()ptions arc limit¢d. The t()tal income for the year was £135,145 and with total exp¢nditure of £99,792. Reserves poliey The policy of the company regarding Capital Reservcs is uutlined in note l(D of the accoiinls. The previoiis policy with the General Rescrve was to endcavour to Inaintain at least a ILvel equivalent to six months cxpenditure. Risk The Direclors continue to asse%8 the ri%kq to which the Charitablc Trust is cxposed. This inLliides the potential ri.sks to the .1 rust which dre poscd by the un¢ert<iinties in the investmcnt markets. They havL' concluded that their policie8 remain prudLnt and reasonablc in ihe current circumstances. Responsibilities for producing financial ¥tatements The Dircctors prLpare aLcounts which givc a Irue and fair vicw of'thc state of affairs ot'the Charity and of its income and expenditure for that period . In preparing thosL accounts, thL' t)ireLtors are rL'quired to selc'ct suitablc accounting poliLi¢S and then apply them consistently. make jiidgcments and estimates iliat are reasonably prudenl; and state whelher applicablc accounting standards have been followed, subject to any matcrial departures disclosed and explained in the accounls; and preparc accounts on a going concern basis unless it is appropriate to assumc that the Charity will not continue in operation. The Directors are resp()nsible for keeping proper aLcounting records which disclos¢ with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the accounts comply with currcnt legislation. Th¢ Direclorts are also responsible for safeguarding the assets ot.the Charity and hcnce taking reasonable steps for thc prevention and deteLtion of fraud and othcr irregularitics. Pagc 3
THE SELSDON CENTRE TRUST DIRECTORS,RUSTEES, REPORT Appreeiation The Directors wish to place on record their appreciation of the efforts of the volunteers, the dedicalion 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 th¢ Board of Directors on and signed on their behalf. signed signed Ch4irmAn A¢ting TreA5urer Page 4
THE SELSDON CENTRE TRUST FOR THE YEAR ENDED31 MARCH 2025 InilLPL'ndi'nt Lliim inL'r's t"epoi't to ihe. tru5tL'cs I report on Ihe 4CoUntS of the Trust for the y¢aT ended 31 Mdr¢h 2025, which ar¢ set out on pages 6 to I l. Respective rL'sponsibilitle8 1)f Irii%t¢es #nd e%dniiner The charity's Irust¢¢s are responsibl¢ for the preparation of the aLLounts. The charity's trustees consider that an audit is nol required for ihis y¢ar under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independenl examination is needed. It is my responsibility to: examine the accounts under section 145 of the 201 l Act; to follow the proccdures laid down in the general Directions given by the Chartty Commission under seclion 145(5Kb) of the 201 l Act. and to statL' whether particular matters have come to my altention, 1lll.sis i>f iiidei)eiidLs11l oxiiiiiliier's rLip()rt My examinalion was carried out in accordance with the general Dir¢¢tions given by the Charity Commi8sion. An examination includes a review of the dccounting records kcpi by the charity and ¢1 comparison of the accounts presenled wilh thosL' records. It also includcs considcration of any unusual itcms or disLlosure8 in the accounts, and seeking explanations from you as truste¢s concerning any such Inatters. The procediire8 undcrtaken do not provide all the evidence thal would b¢ rcquired in an audit and consequently no opinion is given as to whether the accounls present Li 'true and fair view, and the report is limiled to those matters sct out in thL' statement bLIow. Indc'peiideiil <'xJiiiinc'r'*i 4talL>mLinl In connection with my cxamination, no matter h¢lS come to my attention: ( l ) which gives m¢ reasonablL' cause lo b¢licve that in any matcrial respect thc requirem¢nls: to keep accounting records in accordance with section 130 of thL 2011 Act. and to prepare accounls which accord with the accounting records and Lomply with the accounting requiremcnts of the 2011 Act have not been met. or (2) to which. in my opinion, atlention should bc drawn in order to cnable a proper undcrstanding of thc accounts to be reached. Rebecca Cosslns FCCA Date Relevant professional qualification or body: Association of Chartered Certified Accountants Address: MJS Associates, F.agle House, Cranlcigh Close, Sanderstead. CR2 9LH Page 5
THE SELSDON CENTRE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED31 MARCH 2025 Unrestricted CJeneral Capital Fund Reserve Reslricted Total Funds Iher Fund Notes 2025 2024 INCOMING RE%OIIRCF.S Donations and legacics Activities to further charily's objcctives Grants reL¢ived ALtivities to generate funds Investment inLoine 18,923 30,144 76,809 9,269 18.923 30.144 76,809 9,269 11,764 19.535 886 14,073 178 Tolal incoming resource8 135,145 135,145 46,436 RESOURCES EXPENDED Costs of gencrating funds Fundrai8ing costs Charitablc expenditure Activity costs to further charity's objLLtives Support Losts Minibus dircct CO8ts Administration xaminer fee 1,704 1,704 5,618 5,680 83,541 8,357 5,680 83,541 8,357 5,496 65,485 8,957 510 510 670 Total resourcL'S expended 99,792 99,792 86,226 Nct movement in fund.8 At l April 2024 rund transfers 11 (3,464) 35,353 35.831 18,945 51,312 35,353 91,101 (39,789) Balance at 31 March 2025 31,889 35,831 18,945 86,665 51,312 The Notes to the Accounts form part ofthese Financial Statements Page 6
THE SELSDON CENTRE TRUST BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Notes Fixed Assets Tangible asscts 10,983 10.227 Current Asscts Cash at bank and investmcnts Stock, debtors and prepayments 112,882 4.387 117, 72,334 3,133 75,467 Current Liabilities Creditors 41,587 34,382 Net Current A88ets 75,682 41.0115 NET ASSETS 86.665 51,312 Unrestricted funds- CapitY41 Capital res¢rve fund General fund Restricted fund Other Funds 1,11 35,831 31,889 35,831 (3,464) 18,945 18,945 CHARITY'S FUNDS 86,665 51,312 'rhL' Directors consider ihat the company is cnliiled to exemption fr()m the rL'quirement to have an audit under thc provisions of .s¢ction 477 of the Companies Act 2006. The l)irectors acknowledge their responsibilitiL's for ensuring ihat the company kL'¢'PS accounting rL'cords which comply with the Companies Act 2006 and for prcparing aLLounts which giv¢ a tru¢ and fair view of the state of affairs of the coinpany as at the end of thc financisil period and of its result for the pvriod in accordance with the rcquirements of the Act and which otherwise comply with the rcquirements of the ALt relating to the accounts so far as applicable to the company. The financial statements, which have been prepared in accordance with thc special provisions of the Companies Act 2006 applicablc to small companies, were approved by the Board on signcd on its behalt. and Signed: Signed: Chairman Acting Treasurer Page 7
THE SELSDON CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLItCIF4* (a) Basis of preparation of financial statements The tinanLial statements have been preparcd in accordancc with Accounting and Reporting by Charities: Siatement of RecommendL'd Praclice applicablc to charities preparingF their accounts in accordance wilh the Financial RL'POrting Standard applicablL' in thc UK <ind Republic of Ireland (FRS 102) and the Companies Act 2006. The Sel.%don Centre 'frust meets the detinilion of a public benefit ¢ntity linder FRS 102. Reconcilialion with previou8 GenL'rally Accepted Accounting Practice. In preparing the accounts, Ihe trustecs have c()nsidercd whL'th¢r in applying thc accounling policies required by FRS 102 and the Lharities SORP FRS 102 th¢ r¢statcment of comparative items was not requircd. (b) Tangible fixed a&8ets and depreciation Tangible fixed assets are %taled at cost less depreciation. DeprL'ciation 15 provided dt the following annual rates: Buildin& plant E urniture, fixtures and ¢quipmLnt Cornputcr equipmenl {c} Income Income is credited io the Statemcnt of Financial Activities biL'nerally ()n the datL it 18 receivLd. (d) Donations in kind Donalions in kind are valued at nil cost t() the Trust. A rec()rd of such assets is kept by the Trustees. When 8uch as%els are sold ihL proceeds are brougFht in as donation income in the Statement of FinanLial Activities. (e) Expenditure Expenditure is charged to th¢ Statcment of Financial Aclivitics inclusive of Value Added Tax. (D C4pilal funds- Designated I"hc capital reservc fund represents amount4 set asidc for replacement of the fixcd assels and is equal to the relevant tangible assets at their gross book valiie. (g) ReAli8ed gains and losses All gFains and Iossc8 are taken to Statemcnt of Financial Activities as they arise. Realised gains and losses on inve.stments are cal¢ulaled as thc differcnce belwcen sales proceeds and opening market value (purchase date if lalei').Unrealised gains and losses are calculatcd as thc differcn¢¢ betwcen the market value at Ihe ycar ¢nd opening market value (or purchase date if later). Realised and unrealiscd gains are not scparatcd in the Slateinent of Financial Activities. Over the Icase lerm 30 years I 00/0 on cost 250/0 on cost Page 8
THE SELSDON CENTRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 2. GRANTS AND ALLOWANCES No General Grant was received froin the London Borough of Croydon. A rent subsidy was paid as a partial replacement. A grant is being received from the Loltery. EMPLOYEES REMUNERATION 4 part time staff were employed by the Charity. The total of employees remuneration (including employers national insurance contribulions) for the year amounted to £54,941 . Redundancy payments of £11,035 are included in this figure. 4. DIRECTORS, REMUNERATION No remuncrati()n or benefits were received by the Directors during the year. Any expenses paid were re- imbursem¢ni for costs incurred. 5. FIXED ASSETS.. TANC.IBLE Furnlture Building fixtures & Computer plant equipment equipment TotHI At 1st April 2024 Addition5 in the year 34,085 35,928 6,026 2,383 76,039 2,383 At 31 st March 2025 34,(18.f 28 8,409 78,422 Depreciation Ai 1st April 2024 Charge for Ihe year At 31 st March 21125 23,858 35,928 6,026 491 6,517 65,812 1,627 24,994 35.()28 Net book value at 31 st March 2025 9,091 1,892 10,983 Net book value at 31 st March 2024 10,227 10,227 6 SERVICE CHARGES The Directors have considered the provision they make for potcnlial outstanding claims for the service charges payablc undcr their Ic4ise. I'hcy havc now bceii advised th<lt 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 2025 2025 2024 CASH AT BANK AND IN HAND Barclays Bank No 2 Current Awount C&8h in hand 112,882 72.261 73 112,882 Investment cash balances held have bcen redesignatcd into the above calegory. STOCK, DEBT0 AND PREPAYMENT4) Debiors Stock 1,982 2,405 1,900 1,23) 3,13) CREDITORS Accrual8 Sundry Creditors Provisions for future costslLottery Clrant 2,672 20,000 18,915 41,587 15,000 18,752 34,382 10. SHARF CAPITAL 'rhe company is limited by guaranlce and as such has no sharc Lapital issued. 11. FUND&i Unrcstrieted Restricted Other Funds General Capital Fund Rescrve Total At l April 2024 (3,464) 35,831 18,945 51,312 Surplus for the year 35,353 35,353 31 st March 2025 31,889 35,831 18,945 86,665 The trustees have designated that a Lapital fund shall be set &side for the specific purposes as outlined in note l (fj. Transfers are inade in line with these purwses. 12. RELATED PARTY TRANSACTIONS No truslee or other person related to the charity had any personal interest in any contract or transaction entercd into by th¢ charity during the year. 13. TAXATION As a charity, THE sr.LSDON CENTRE TRIJST is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Charg¢ablc Gains Act 1992 to the extent that thes¢ are applied to its charitable objects. No tax charges have arisen in the Charity. Page 10
THE SELSDON CENTRE TRIIST DETAILED INCOME AND EXPENDITIIRE ACCOIINT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrieted Restricted Funds Funds Tot41 2025 Total 2024 2025 Incnmin Q&lburcts-Intonie D•n#tiDns Donations Contributions from minibus us¢rs 17,323 1.600 18,923 17.323 1.600 18.923 7,726 4.038 11,764 Aetlvltie$ lo further charity's objetlivts Meals in Centre Refreshinent sal¢s IT Courses Sundry income 20,962 6.521 20,962 6,521 18.004 20 2.661 30,144 2,661 30,144 19,535 GrAnt% rceelwe LB ('.ruy(Jun /OihLr Grants Loii¢Yy Cirun( l.ROO 75.009 76.809 1,800 75,009 7(),¥09 886 886 Aflivltles lo Ren¢r*te fun¢J¥ Fundrtti%ingi incoinc Il%c i)f hall by outside parties 133 9.136 9,269 133 9,136 1),269 4.017 14.073 Investmeni Income Ini¢r¥s1 178 .1 oial incfime 135.145 135.145 45.549 Rc%ourci$ tx )endeil- F.% C.Ii¥t¥ tif xen¢ratinR funds Fuiidrai%ing cost% Ch#rlt#ble expenditure Aetivily ¢o¥l% lu furlher charlty'5 Iltlivititi I.UllLh.%uppliL endl¢u 1,7114 5.618 5,6110 5,680 5.496 iupwirt foJts Stun'sdlari¢s #nd national insurance Reni RLpaiTS and Mainlcnance Insuran¢¢ T¢lephonc Print P05l&ge and slalionery Advcriisinb Software and w¢h8ite Cleaning Service charge Building l Equipment deprrriation DITrTrERENCE ON OPENINC. BANK BAL Bank ch48¢$ Other expcnse5 54,941 2.213 1.770 1,214 ,8()2 319 1,745 4,245 3,905 5,000 1.627 .$4,941 2.213 1,770 1,214 1,862 319 1.745 4.245 3.905 5.000 1,627 38.409 1.041 224 1.198 1,241 545 6,843 15.000 1,136 476> 25 4.675 83,541 25 4,675 83,-541 324 65,4X5 Minibus direct costs Insurance Diesel L¢85¢ r¢ntals 1,106 1,486 5,765 8,357 1.100 1.486 5.765 8,357 2,460 764 5.733 8.957 Admlnl$¢r4tion Ac¢ountancylExaminer fee 510 510 670 Lndiiure 99,792 99.792 86,225 Sur Defieit fur Ihe triod 35J53 140,6761 Page 11