REGISTERED COMPANY NUMBER: 03915939 (Engl#nd and Wales) REGISTEB£D CHARITY NUMBER: 1088387 REPORT OF THE TRUSTEES AND FINANCIAL STA TEMENTS FOR THE YEAR ENDED 3&ST MARCH 2(123 FOR SOUTHWARK IIUSH PENSIONERS PROJECT Leroy Reid & Co Chartered Certified Accountants and Statytory AL1t0T5 299 Northborough Road Norbury London SW164TR ACIKXFYI A19 IW12r2023 COMPANIES HOUSE
SOUTHWARK IRISH PENSIONERS PROJEcr CONTE OF THE FINANCiAL STATEMENrs FOR THE YEAR ENDED 31ST MARCH 2023 Pge Reference 4dministrntlve detlls Report D( the irn$tses Report of the independent auditors statent of financi¥Jl x¢tiviti¢5 10 Statement of finnci¥Jl position S(atent of eash l]ows 12 Notes to the finlncial st•tements 13 to 20 Detg1]ed sttemeTr¢ of fwan¢ial aftivaties 21 to 22
SOUTHWARK IRISH PENSIOPIERS PROJEcr REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST RCH2 23 TRUSTEES Mrs H A Morrin Mrs H O'connor Mrs M E ofonnell Ms M Moyl¢ Ms V Qutnn J Rice M DoDTJelly K M Doyle COMPANY SECRETARY M5 M Moyle REGISTERED OFFICE 6 Market Place Bermondsey SE16 3UQ REGISTERED COMPANY NUMBER 03915939 (England and Wale5) REGISTERED CHARITY NUMBER 1088387 SENIOR sfATUTORY AUDITOR EbenczeT Okai (Bsc). FCCA AUDoRs Leroy Reid & Co Chartered Certified Accountanrs and StaNtory Auditors 299 Northborough Road Norbury SW164TR BANKERS CAF Bank 25 King5 Hill Avenue Kings Hill West Mallin8 Kenf ME19 4JQ National WestmiThster BarLk pl¢ Camben¥ell Branch 70 Denmark Hill Loimlon SE5 8TT Page I
soirrHWARX IRISH PENSIONERS PROJECT REPORT OF THE TRuEs FOR THE YEAR ENDED 31ST MARCH 2023 The Tnjsiees who are also Dire¢tt)rs of the charity for the purposes of the Companies Act 2(M)6. present their report with the financial statemeDts of the charity for the year ended 31si March 2023. The Trnsiees have adopted the provisions of Accounting and Reporting by Charities.. Ststemeni of Recomnded Practice applicable to chaiities preparing their accounts in accordance with ihe Financial iiqK>rting Standard applicable in rhe UK and Republio of Ireland (FRS 102) (effective l January 2019). The accounts have been prepared in accordance with the accounting poli¢i¢s sei out in not¢ I to the accounts and comply with the charity's governing documenl the Companies Aci 2006 a1 the Stsremenr of ReCoMMd Prdetiee, "Accounting and Reporting by Charities". issued in Match 215. OWECTIVES AND ACTIVITIES Objectives 4nd aims The objects of tbe Project as set out iti our gov¢rnTrnE duM¢DI ar¢.. - SIPP is established mainly, but not solely for the itfit of elderly people resideni or working in the [ndOn Borough of southw and surrounding areas. who are lrisb or of Itish desceni by. l. Relieving such people who are in conditions of poverty. sickn)ess and distress or who we otherwise irt T. 2. Providing aNI assisting in the provision of facilities for the recreation and other let5ure occupation of such people in ihe inierests of social welfare and so ihat theii conditions of life may be improved and,. 3. Extending the community support seryice to family of any age wheTe li is clurly impossible to improve the guality of life of the member without doing so. M5sslon Statement Southwark Irish PensiorT5 Project (SIPP) exists to alleviwe the isolation of older Irish people, living in south London, many of whom have diverse aThJ complex need4 enabling ttm to live with dignity consist¢nt with their persoyjal choices and preferences. Though practical support, we help them to improve their wellbeing and Claim firn¢la1 5UPPOrt. We act with kindness and compassion and are culDJrally aware. building long iern) tswsiing Telarionships that ¢rKoutage fr"hendships, happy memories. community Spirit and a deep sense of b¢longing. Public benefjt The Trustees bave referred to the guidan¢e ¢ontsined in the Charity Corntnission's general guidance on public benefit when reviewing OUT aims and objecrives and believe that in providing our 5ervice5 to our members a1 io the older local communiry, help is uliimately beillg provid¢d to 8 significant proFQrtion of the general population. Volunteers VoluDte¢r5 are without doubt our gfeatesr and invaluable to our organisation. They give their time freely and Joy]Iy. Thanks io The National [ttery R¢aching COnUDiry Grant which h&$ extended out Helping Hands Scheme, our volunteer team continues to grow. Some of otjr volunteets have given th¢ir time for mor¢ than 20 years, others we are just recrniting- we can never express our atItude enougb to each and eVEry one. Our befrienders regularly vistt member5 in hospitsl, those who are housdx)und and othets living in CaTe home5. for many they their only visitor. Oihers help ITJ the day smice and with various ad hoc events thiouglM)ui the year. Without our team of volunteers (currently 531 we would have to greatly curtail our services. Last year. they gave over 1800 volunte¢r hour5 whiclL if paid the Londott Living wage of £1 1.05 has a value of nearly £20,(K)O. We value every volunteer highly and never tire of telling them so. We held our annual thank you event in June which was very well attended. Page 2
THWARK IIUSH PENSIONERS PROJECT REPORT OF TRU FOR THE YEAR ENDED 31 EES ARCH 2 ACHIEVEMEIYT AND PERFORMANCE Charltable activities Following on from the lockdoWrni¢ year5, w¢ held a St Patrick's Day celebrnts.on in March 2022 which seemed to be the Mrning point for returning to nornwl for 5. By May 2022 our community SUPEh)rt workers were being welcomed by clients were much more comfortable having VisirS in their honys. They provÈded 3.819 home visiL8 io vulnerable and isolat¢d clients over the year - avera8 318 botne visits every month. They also provided 6,691 welfare calls over the same pert(Kt. Overall. the Project WOTked with 562 iNlividuals in th¢ year endtng March 2023. not Iluding the many families who also befiefitted from our intmiention& The conm]w)iry ieam worked with 455 people including 36 carers over the 12 mnths. The team continued io provide easy access to a broad range of services io all our clients. including ft))re wJlnerable clients who are housebound andlor unable to a¢ces5 Staknjtory servlces. Issues iDcluded Thtal health, hospital di5chaige and home care pa¢kag¢5, physical health issues. hou5in8 Lncluding transfers io sup}ned how8ing. C8Te and residential hom¢5. managing debi. welfare benefits, addictions, carer support. bereavemeni swon and fom) filling. We maintain 8 high number of clients who live with complex needs and th¢refoie advocacy is an ¢ssential component of our everyday worL We are £oTtynate to bave a highly skJ"Iled and motivated team of COTnmunity support and outrwh work¢r5 WIK) always go the extra mile to meei a client's needs. During the summ¢r of 2022, we were able to resu¢ our pub outreach visits. totalling I I I visits io year end. This scheme operares across the boroughs of Southwart LamEtth Lzwisham ¢nsuring those in need have aesS to support before an issue becomes a crisis. By NOVemr 2022, our hospitsl visiting 5chem¢ had restarted to Guys and St Tly)mas and kn.ngs College hospitsls and r¢quir¢d several visits a we¢k due to the increasing nwnbers of clients admitted to hospital with severydl clients suffering an exiended delay to discharge due to lack of availability of an 8ppropriaie c8re ]K)me. Our shared (with Lewisham Irish Cetktre) advÈce worker left.at the begÈnniDg of May 2022 and the r¢p13cem¢nt was not in posi until April 2023. In the interim the adM"ce sessions were provided by key Nmbers of the community team who have received appropri¢ training in welfare benecits etc. and who have many y¢ars' hand5 on experience woiking in the conununity. 120 people acces1 the 5eryice over 12 months, with the majority of issues arising being dEbt rnanagemeni. welfare benefit applications and appeals. housing rtpairs and accessing appropriate housing a1 adV0cY to access health and social services. We also assisted with a myriad of fomi filling including passport applications, blue badg¢ and community transport appli¢ati¢)ns. wat¢r sur¢ applications etc. Day service attendance avetaged 43 people a day at our Brixton and BemK)ndsey dropins. with a totsl of 192 people accessing ibe day service tltroughout the year. We piovided wami hubs through several of the colder nKsnths. offering homernade v¢getable soup and bread. An averdge of 25 r*ople a day bellefitted froEn the rrnth and the nuthtion and this s¢rvice h¢lped to ease the pain of the cost of liviog crisis. Several days trips, weekends away along with the regular activities- tea dances, board 8ames. ftlm Clubs. arts and crafis. yoga sessions, chiropody. exercise. IT and Spanish classes - kept our day servi¢¢s interestin& busy and well attended. We are fortttnaie ro have a dedicated team of volunteers supporting the wotk of the organiser. Our Christmas and St Patrick's Day Celebratio were held in the Exewtive Suite irA Millwall FC, wh¢r¢ the staff take such good care of our tn¢mbvs. OveT 180 rnemb¢r5, theit carer5, fami.lies and fr]"ends thoroughly enjoyed iKPth events. We also took an aciive part in Bern)oDdseys Si Patrick's Day gathering in The Blue. .8E16 where there Irish music ¥nd dancing, ¢hildren's fac¢ painting and Irish storytelling. Our stall w&5 kept busy and our pensioners and their families had a great day despite the rain. Working with l¢xat 5ch(Mils, we delivered over 150 goody bags and hanwrs tn December 2022, mosdy to indiwduals in need as well as local n¢edy families and to thos¢ people wh() have llo family liVll neaTby. We donated the r¢rnaining goodies io I87 foodbanks. Throughout the year w¢ sent out more than 4(Kl birthday cards. Frequently ours will be the only birthday card they received and they are delighted thai someone has remembered them. The same too with Christmas card5 which we sent to all our clients. We also send out quarterly newslettets to keep everyone in(Orn Page 3
UTHWARK IRISH PENSIONERS PROJE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 We administer hardship grants on behalf of The Benevolent &Kiety of St Patrick. This year we distribu*d mor¢ than £8,0(M) in art[S 10 30 individuals and families in need, receiving referrals from Irish groups in south lA)ndo Citizens Advic¢, Housing ASSlatIOnS and other a8en¢i¢s. This year we streamlined out databw and #ll stsff were tsained io use the upgrad¢d system effectively and we upgraded to broadband - both investments have enabled us to be more efficient and provide an improved servhce Èo i)ur clients. We have developed extensive partnership working across health, social services aJMI housing seryices, #s well as with voluntary sector group4 50 enswing the best possible service for our clients a[ an eff#tive use of services. skills and expertise. Funding We are incredibly grateful to our funders. supp)rter& sponsors and our members Wbd io th¢ Irith Government for its continued support through the Emigrant Supp)rt Prograrn. administered by Departsneni of Forei8n AffaiT5. During the year ended 31 March 2023 we received a grani under this pr(>8faEturt of £ 136.723 . The gTani Iws b¢en spent for the purp05¢s specified. The amount in respect of April io June 2023 for £69,164 will be speni in the next financial year and so has not been recorded as income for the year ended 31 March 2023 but is carried forward a8 deferred income on the balance sheet. We are also grarefiJl io Southwark Council for it¥ untiring SUp)rt financial committnent tOardS our community service, and to the National Lottery for it's grant supporting our Helping Hand setvi¢e and for ivs wpw)rt towards training our community Staff. Our in-house futKiraising continued and achieved over £10. even with the dire effeci of th¢ ¢ost of living crisis. This helps towards the everyday expenses of the day clubs. The Trustees are deeply grateful for the financial support from all our donor5 and frorn the charitie5 and tnjsts ih8t provid¢ fjtjancial 5UPPOrt as well as the uhdividua]s who provide valuable pro-bono advice and consultan¢y. FINANCIAL REVIEW Finincial position We the Truskes, are satisfied with the perfom)ance oc Ihe chariry for ibe year under review. Our policy regarding unrestyicted Teserves is to build and tnailltain the to an 4uivaient of 6 nKJUtILS tunning costs to mitigate against any untoward evenis. The Trustees remain confidenr that, wlll.lst recognising the economic uncertaintie5. the Charity can continue to maintain and 0W its services to meet the demand for seryices required by our core client base in th¢ coming financial year. Golng eoneern The Board eonsider5 that the Charity has adequate resources and sutTicient sources of funds available for ih¢ for¢seeable re. Therefore. the Board b¢li¢ve thal it is appropriate for this reason conlinue to adopt the go8 eoncem basis in preparing the financial statements for the year ended 31 March 2023. FUTURE PLANS We will continue to provide an effective day service and a responsive community support s¢rvi¢e to our clients whilst developing our advocxy sch¢me and our Helping Hands PYojecL We will wntinue to pursue fUlra]Sing opportunities tt> support the ongoing sustainability of SIPP. Page 4
sourHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2023 STRUCTU GOVERNANCE AiYD MANAGEMENr Structure. Govern•nce xnd Management The charity is controlled by its governing docuroenl a deed of tnK and cOnlt¢S a limited company, limited by guarantee, &$ defEned by rhe Conwanies Act 2¢J)6. Southwark Irish Pensioners, Project is a company limited by guatantee. is not for profit and does not have a capitsl th"VId into share5. The company is governed by its Mernotandum and Articles of Association dad 28 January 2th). The company is a registeted Charity. Membership is open to those who fulfil the ayeed Twnbershtp criteria in force at the time. The Trustees, who are also the Directors for the purpose of Company taw, and who sil on the managemeni conunittee all Serv during the year wcre.. J Ri¢e- ajair K Doyle & M Donn¢lly- Joint Vice Chair H O'connor- Treasurer M Moylc- Company Secretary M O'connell - M¢mberthip Secrelary V Quinn H Morrirt MangemeDt Committee All the above TftLStees comprise the Managernertt Committee who seryed duting the year. RecruitmeDt ¥nd ppoIntnfjt Of Trew trustees The Trustees of Southwark Irish Pensioners. Projeci are appoinied to otTice under the provi5ion5 of the Articles of Association. We are seeking to recnilt new Trusttts from our mtmhership to eDsure thai, &s our Arttcles siatc, we wll Iways hav¢ a minimum of 3 MC member5 who are nmb¢rs of the Project $0 ensuring the ethos of SIPP will remain. Organisation Tbe Board of TnL8tees supervises the charity. The Board [ets regularly generally bi-monthly and at other tim¢5 if an urgent decision is required. Our experienced manager overse¢s staff and the day-to4lay running of the charity. She has delegated authority, within ternis of delegation approved by the Tnh5tees, for operational matters including finance. employment and the development of the Projeci. Trustee Training We coniinue to alnd training io ensuT¢ we afe awdre of existing and rw/ legislation. We us¢ the services of out HR and Lkgal Advisers io ensure we act legally ai all times. Our membership of the NCVO gives us access to iv5 Trustet infomtIon including a broad spectrum of trainin8 Opwrtunilies and scrninars Pl a varieiy of inf0mtIOn sheets and otIKr pUblitionS whi¢h w¢ mak¢ go(xl w of, Iluding wtbinars in Ch"ty tAW, GDPR and Ellyloynnt law. Key maTh#gemeDt remunerAtion None of the Tnle¢S are paid a salary or reimbursed eXpers for s¢rvi¢e5 r¢nder¢d. Th¢ir servi$ are all voluntsry. No employee in the charity is paid a salary over £60.000 pa. Related p8rti¢s There were no related party transactio* for the year under review. Risk mattagemettt The tnte¢S have a duty to identify and review the risks to which th¢ charity is ¢XSed and io ensure appropriate controls are in place to provid¢ reasonable assurnAce agathst fraud and error. Risk management is an importaut agenda item ai Managernent ComTUirtee meetings. Our risk management register 15 maintained and updat¢d regularly. Identified risks and the PedUreS for tninirnising those rhsks are in place and #re reviewed quarterly to ensure they con¢inue io meet the specific needs of the chartty. Trustees review wlicies and p¢dureS on a rolling progt4mrne. FUNDS HELD AS CUSTODIAN FOR OTHERS The Charity did twt hold fimds as Custodi on E¢half of other in the year eithl 31 March 2023. Page 5
HWARK IRISH PENSIONERS PROJECT REPORT OF THE TRusfEES FOR THE YEAR ENDEDJI T MARCH I 23 TRUSTEES, RESPONSIBILITY STATEMENT The trustees li¥ho are also Ihe directws of Southwark Irish Pcnsiontr5 proje for the of comwy laiyl are resp)nsible for preparing the R¢p)rt ol. th¢ Iru51ffs and the financial Matemenis in accordance ii'iih applicable laiv and United KLfi8dom Accounilng Starthrds (Untied Kingthm Generdlly Acceoed AccoLsniin8 Praeiicel irKILkling Financial Rcporting Sianthrd 102"The Financial RerA)rting Siandard applirJbl¢ in Ihc UK and R¢public of IKlJnd". c.ompany 181¥ wuitts trusttt$ io prtPhTe finofKral 5t*men15 f¢x each finarxial y¢¥ which give a twe and fair vie%v of Ihe state of alTaits of the charitable company and of the incomin8 resources and application of resource5. includitsg ihe inrome and exp[lire. of the.chatitabk ¢ompanj for that p¢ri(d In preparing fiDaDcial siai¢menls: thc Irusitts are Ttquired 10 select $uiiabl¢ 4¢couniing wblicies and ihen apply Ikm ccfflsistcnily. observe rh¢ m¢ihods and prsrKiples in the Chaniv Sotip,. make judgemenrs and e51imare5 that aTe reasonable and Fwknt" prepare Ihe financial sthiemenis on lh¢ going coth¢tyn l•sis unless li 1$ illtyPTOpTia io pre5umE ItrAt ihe chariiabl company will wniinut in busintss. The Iru$iees aye rcsp)nsibk for keeping twer accouming rtCOTds ivhrch disclose iviih rtason&bl¢ &ccurac)' ai 8ny time the financial posiiion of Ihe chwiLible company and to enable th¢m lo ¢n5ur¢ ihai the Financial yatemcnts comply ivsth Ihe Cotnpanics Acr 2(N)6. They are also re4x)nsiNe for safeguarding the &sstis ofilr chariiable company ar¥J hence for laking rta50nable sieps for Ihe prevefttion and d¢t¢¢rion of fra1 and olhcr irregJlariiits. DISCLOSURE OF JNFORMATION TO AUDITO Each of Ihe DiTecior$ has ¢onfirm¢d ihai there is no inforni10n of ivhich they are a¥t ivhith is releydnl to ihe audil, but of ivhich Ihe audiror is LinAl¥4e. They have fijrther tonfiTrn¢d iY hov¢ tak apprOwle Sle 10 id¥¢slilv such rel¢vanl informaiion ar 10 establish that the audiiors are airdre of sh inform¥iioTr. AUDITORS The atsdirork Leroy Reid & Co, iyill k prw5ed for re-apInlMen1 at Ihe fonlKomin8 Annual Cftneral Metiin 28-11~1013 Approved by ordu ofihe b(wd of intsr¢¢5 on ............................................. artd sF8rtd on its behalfby.. H (YConnor- Trustee M E (YConnell- Trumee Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTHWARK IIUSH PEf4SIOIYERS PROJECf OpiTrlon We have audit the fllkanciaj statemenL8 of Southwark Irish PeTtsioners Ptojeci (the 'charitable Compan for the year ended 31si March 2023 which comprise the Statement of finan¢ial activities, th¢ Statement of financial position, the Statement of cash flows and notes to the financial stakrnen including a summary of significant accounting policies. Th¢ financial reportin8 framework that has been applied in their preparation is applicable law and United Kingdom AccoLmting Standards Iunited Kingdom G¢nerally Aepted Accounting Praeii¢e), incluth.ng Financlal Rep)rting Standard 102 The Financial R¢porting Standard applicable in the UK and Republic of Irel8nd'. In our opinion the fiTJancial Steets.. give a true and fair view of the sthte of the chan"iable compan$ affairs as at 3 1st March 2023 and of ils incoming resou¢$ and applicauon of EOUrCes. incluiling its income and expendilure. for th¢ year then ended; have len properly prepared in accordance with United Kingdom Generally Accepied Accounting Practice, in¢ludin8 Fit)ancial Reporting Statmlard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. and have been prepar¢d in a¢cordae with the requÈrements of the Compani&% Act 2()0. Basis for opinion We condwt¢d our audit in ac¢ordance with Iniernational Stsndards on Auditing (UK) USAS IUK)) MI applicable law. Our responsibilities under those standards are fiher described in the Auditors. responsibilitie5 for the audit of the rmancial statements 5ecttQD of our report. We are lndepuenl of the ¢han"table company in accordance wtth ihe ethical requirernents that are relevani lo our audii of the financial statements in the UL including the FRC'S Ethical Standard. we have lfilled our other eihlcal responsibilities in accordance with these requirements. W¢ believe that th¢ audi( evidence we have obtained is suffieieijt aThl appropriate to provide a b&si5 for our opinion. Contlusions relating to going eottcerD In auditing the financial stat¢rnents, we have eoncluded that the Ste¢S. use of the Eoing eortcern basis of accounting in the preparation of the financial siaiemenis is appropriate_ Based on the work we have performed. w¢ have not identified any material ulttrtainties Telating to events or conditions that. individually Or collectively, may cast significant doubt on the charitable CoMpanS ability to continue as a going Cotxcem for a period of ai least twelv¢ nw)nihs from when the financial ststements are authorised for issue. Our responsibilities aNi th¢ responsibilitivJ of the trst$ with r¢5pect tt> going concern #re described in the relevant sections of this report. Other informatio The tnjstees are responsible for the other Ènforntton. The other infomiation cowises the information incIled kn the Annual report, otheF than the fina121 slatements and our Report of the independent 1j110rS thereon. OUT opinion on the financial $tstements doe5 not ¢ov¢r the other information and. exc¢pt to the extent otherwise expliciily stated in our report. we do not express any fomi of assurance conclusion thereon. In ¢onne¢tion with our audit of the financial stsiements, our responsibility is to read the other inforrnation and. in doing so. consider whether Ihe other infornution is maierially inconshsÉent with the financial ststements or our knowledge obtained in the audit or otheThvise appears to b¢ materlally misstated. If we tdentify such rnaterial inconsistencies or apparent material misstatements. w¢ are required (o enIne whether this gives rise to a material misstatemeDt in the financial statements thentselves. If. based on the work we have trtrfoTmed, we conclude that there is a nuterial rnIsstat¢nt of thts other lnf0rnutio we are required r¢port that fact. We have nothing to report in this gard. Opinion$ on other matters prescribed by the Compnies Ac¢ 2006 In oui opinion, based on the work undertaken in the COLEf5e of the audtt.. the inforniation given in the Report of Ihe sleeS for ihe financial year for whicb the financial sratem¢nts are prepared is consistent with the financial stsiements,. and the Report of the truSeS has been prepared in acCOrdae with applicable legal Tequirements. Pag¢ 7
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF sotrrHWARK IIUSH PENSIONERS PROJECT Matters on which we are required to report by exception In the light of the knowledge and undetstsndsng of the tbarithble company and its environment obtained in the course of the audit, we have not id¢ntified Tnaterial misstatements in the Report of the trglets. We hav¢ nothing to r¢port in respect of th¢ frtllowing mat*rs whete the Comparnes Act 21J)6 rtquires us to report to you if. in our opinion". adequate accounting records have not be¢n k¢pt or returns adequate for our audit have not been Te1Ved from brnnches not visited by us. or the financial staternents are not in a¢ent with the accoulltu records and returns., or cenain disclosures of slee5, remvneraiion specified by18w are not made. or we have not received ail ihe infornjation a1 ¢xpl8natsons w¢ require for our audit,. or the ttustees were not entitled to rake advanrage of the stnall companies exemption from the requirement to prepare Strate¢ report or in pr¢paTing th¢ Report of the trustees. RespoRsibililies of triisitts As explained more fijlly in the Trustees, rtspotjsibilities staiemenl ihe ttusttts (who are also the directors of the charitable comp2ny for the purposes of wmpany law) are responsible for the prepardtion of the financial sthiements and for being satisfied that they give a tnje and fair view. and for sucb internal control as ihe tee5 det¢Tmine is Dec¢$5ary io enable the prepaTation of fiFhancial 5tstem¢Trts that are free fro Tnaierial misstatrment. whether due to fraud or error. In preparing the financial stateLnents, the tru5tee5 ar¢ resiK>n5ible (or assessing the chantable coMpanS ability to ¢ontinue as a going Concern, disclosing. as applicable. matters related to going conc¢rn and %]ng the going concem basis of accounting unle&8 rhe trustees either intend to liquidaie the charitrble company or io ¢eas¢ operationg. or have no realistic aliemative but to do so. Page 8
PORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF SOUTHWARK IRISH PENSIONERS PROJECT Our responsibilities Cor the audit of the finamtlal st#temtnts OUT objectives are to obtsin reasonable asguraDce about whether the rvClaI sraiements &8 a whole free from material mis5tstemen4 whether due io fraud or error, and to issue a Report of the independent auditors that includes our opinion. Reasonable assurance 15 a high level of &8surance. bui is not a guarantee that an audit conduGt¢d in arxordance with ISAS (UK) will always de( a mateTial misstatement when ii exists. Misstaiements arise from fraud or eOr and are considered mtrIal if. individuatly or in the aggregate. they could reasonably b¢ exp¢ct¢d to influence the economic decisions of users taken on the basis of th¢se finan¢i41 $tat¢ments. IegUlaTitLc$, including fraud are instances of non-compliance with laws and regulations. We design prLKedur¢s in line with our responsibilities, ouilined above. io ddeci material misstatements in respect of irregularsiie5, including fraud. The extent to wht¢h our procedures are capable of detecting iTregularities, including fraud is detsiled below: As part of an audit in accordance with ISAS (UK). w¢ ex¢rci5e prof¢ssion41 judgement and maintsin professional sceplicisrn throughout the audil. We also.. Id¢ntify and assess the risks of materkal missiatement of the f]nancial stxtements. whether due to fraud or erroT. design and perforni audit predureS reSnSiVe to th( risk4 and obtsin audit evidence that 15 5ufficienl and appropriate to provide a basis ftir our opinion. The risk of not detecting a rnateTial misstatement re5uliing from fraud is high¢r than ftir OT]e resulting from ernr, &$ fraud may involve collu5Lon. forgery. inwitional omission& mi5r¢pr¢s¢ntaiions. or the oveide of internal control. Obtain an under5tsnding of intemal control relevani th the audit in order to design audit procedure5 that are appropriate in the circumstsnce4 but not for the pllt]x of expressing an opinion on the eff¢div¢ne5s of th¢ charitable company's iniernal control. Evaluate the appropriateness of acctyjniing policies used and the reasotmbleness of accounting tlMates 8nd related disclosures made by the trnstees. Conclude on the appropriatene55 of the trnstees. use of the going concern basis of accounting and, b&sed On the audit evidence obtsine& wheth¢r a malerial uncertainty exists relaied io events or condition5 that may c&%t significant doubt ¢)n th¢ Chuitable company'$ ability to ¢ODtinu¢ a5 a going rm. If w¢ ¢onclude that a materia] uncertainty exists. we are rwuired io drnw attention in our ReFrfJrt of the independent auditors to the related disclosures in the financial stst¢rn¢nts or, if such disclosures are inadequate, to mixlify our opinion. Our conclusions are based on the audit evidence obtained up w the date of our Report of the Inderdent auditors. However. future event5 or conditions may cause the charitsble companYs to cease to continue as a going cortcern. Evaluate the overall we5¢nlation, 5tTucnwe and conient of the fmancial Statemen including the disclosures, and whether the fJnan¢ial slat¢m¢nts repr¢s¢nt the underlying transactions and events in a manntt that &hieves fair presentation. We Communite with those chaTged with governan regarding, arnong other matters. th¢ pl8Tmed scope and liming of the audit and significant audit findings. including any significani deficieneTres in internal control we identify during our audit. Use 010r report This report is made solely to the charitsble company's memF*rs, as a Ixty. in accordance with Chapter 3 of Part 16 of the Companies Aci 2006. Our audit work h&s Ien undertaken so that we might sthte to the charitabl¢ compan5 members those matters we are requed th sthte io them in an auditon. rert and for no other PUTP05e. To th¢ fullest extent perniitted by law, we do not accept or assume responsibility to anyone other than the charitabl¢ cornpany and the charitable company's members as a body, for our audit work. for this repor4 or for the opinions we have formed. Ebenezer Okai (Bsc). FCCA (Senior StarLrtory Audiior) for and on behalf of Leroy Reid & Co Chartered Certified Accountants and Ststrjtory Auditors 299 Northborough Road Norbury London SW164TR Dai¢.. L¢J L2 Page 9
SOUTHWARK PEN ION STATEMENT OF FINAIYCIAL ACTIVITIFS FOR THE YEAR ENDED 31ST MARCH 2023 2023 Tot81 funds 2022 Total UBrestri¢ted Restricted fund Dd Notes INCOME AND ENDOWMENTS FROM Donations and legacies 23,401 23,401 97.071 Charit8ble activitie5 Irish Department of Foreign Affairs Charitsble activiiies 136.723 113,272 136.723 144,617 125.246 91.432 31.345 Other trading activities Investrnent income 2.597 554 2.597 554 4,012 Total 57.897 249,995 307,892 317,769 EXPENDITURE ON Raising funds 1.834 Charitable activities Charitable activities 111.662 241,318 352.980 305.826 Other 470 110 580 Totgl 112.132 241.428 353.560 307.660 NET INCOMEI{EXPENDITURE) (54235) 8,567 (45.668) 10.109 RECONCILIATION OF FUNDS Total funds broughi forward 193.892 18.582 212,474 202,365 TOTAL FUNDS CARRtED FORWARD 139.657 27.149 166.806 212.474 The rtotes forni part of these financial statery*nts Pag¢ 10
UTHWARK IRISH PENSIOP4ERS PROJEcr REGI ERED NUMBER: 03915939 ATEMEP ANCIAL POSITI 1ST MARCH 2 23 ioij 202Z Not FIXED ASSETS Tangible assets ij i,102 7,378 CURRENT ASSETS Debior5 Cash ai bank and in hand 14 13.026 233_429 781 284.247 246.4>5 285,028 CREDITORS Amwnts tr&lling iviihin one ye¥ 184.7511 179.9321 NET CURRENT ASSUS 161,704 205.096 TOTAL ASSETS L£SS CURRENT LIABILITIES 166,81J6 212.474 NET ASSETS 166.806 212,474 FUNDS 17 Unr¢siricied furmls Re51ricrcd funds 139.657 27.149 193,892 18,5¥2 TOTAL FUNDS 166,806 212.474 These tiThancial 3Men1S have tea wepwed in accordarKe iviih the rKovi510n5 8ppli¢able io ¢haTiI)bl¢ companies subjeci 10 ihe stnall COMF1¢5 rewm¢. The financial 51aiemtnts ii'cre apwjved by the Board of Trusttts and auth)ri5ed for i5511c on ..S... ! I:- ?o.X3......... at %ere signed on its bchalf by.. H (YConnor- Trusitt M E (YConntll- Trtt The n0*5 forni of the5¢ tlnjnc1 Pa8e 11
SOUTHWARK IIUSH PENSIONERS PROJ STATEMENT OF CASH FLOWS R THE YEAR ENDED 31ST MARCH 2023 2023 2022 Notes Cash flfjTV$ from Dperating activities Cash geneiatEd from operation5 19 (51.372) 15,555 Net cath (used in)Iprovided by operdting activities (51,372) 15,555 Cash llows from iTrve5tiiie aetivities PurChe of tsngible fixed assets Interest received (2,841) 554 Net cash provided byl(used in) investing activities 554 (2,833) Change ID Wnd cash equivalents i the reporting period Cash and £8sh equivalents at the beginning of the reporting period (50.818) 12,722 284.247 271.525 Cash and e#sh tquivaleThts at the end tsf the reportlDg period 233.429 284,247 The notes form part of these financial sraiementS Page 12
SOUTHWARK IRISH PENSIONERS PROJE NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED JIST MARCH 202 ACCOUNTING POLICIES BASIS OF PREPARING THE FtNANCIAL sTATEmErs The financial staternents of the charttable company, which is a public benefit entity under FRS 102, have been prepared in accordanc¢ with the ClUeS SORP (FRS 102)'Accouniing and Reporting by Charities.. Statement of Reconunended Practice applicable to charities preparing their accounts in accordance the Financial Reporting Stsndard applicable in th¢ UK and Republic of Ireland (FRS 102) leffe¢tive l January 2019),, FiTAncial Rew)rting Siandard 102 The Financial Reporting Siatmlard appliuble in the UK and Republic of Ireland, and the Companies Act 2(KJ6. The flnancial ststements have been prepared under the historical cost convenlioTJ. INCOME All income is recognised in the Statement of Financial Acliyities once the tharity entitlement to the fvnds. it 15 probable that the ]D¢on will re1ved and the ymount can be measured r¢liably. EXPENDITURE Liabilities are re%015¢d as expenditUTe as soon as there is a legal or ¢onstrLKiive obligation committing the charity to that expendsfure, Lt is probable that a trdnsfcr of ecoTrotni¢ benefits will be requird in settlement and the amount of the obligaiion ¢aD be measured r¢liably. Expenditure is counted for on an aCcnlS basis and has beeD classified wider headings th8t aggregaie all Cosi related to the category. Where ¢05t5 cannot be directly attributed to particular headings they have be allocatrd io activities on a basis consistent with the use of resourc&9. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual e$ in order to write off each at over its e5timai¢d weful Plant and machinery Computer equipment 21Y/• on Cost 25Yo on cost TAXATION The charity is exempt from corporation tax on its charithble activilie& FUND ACCOULYfING Utricted funijs can be used tn accordaTKe wi¢h the ¢hwritsble objectiv¢s at the discretion of the rnESteeg. Restricied funds cart only be for paniculat restricted purposes withm the objects of the charity. Restrictions arise when specified by the donor or when fuTx15 are raised for particular restric1 PUTPOKS. Further explanaiion of the and purpose of each is included in the noies io the finala1 5tstem¢nt5. PENSION COSTS AND OTHER PoST-RET1MENT BENEFITS The chan"table company operdtes a defthed contribution pension schetne. Contributions payable to the charitable COTnpany's pension eme are char1 to the Staiement of FiDancial ActLVlties in the period to whi¢h they rela(e. GOING CONCERN Management acknowled8es that u¢ainty remairts over the funding availability, Trw)wever. Managenn¢ has a reasonabl¢ expectation thar the Southwatk Irish P¢n5ioDers Projxt has adequate resources ro continue in operatiollal exisience for ihe foreseeable fuuwe. Page 13 coniinued...
EN IONERS PROJECT IYOTFS TO THE FINANCIAL TATEMEf¥TS- <ontlDyed FOR THE YEAR ENDED 31ST MARCH 202 I)ONATIONS AND LEGACIES 2023 Tgtal funds 2022 Total IIiDds Unrestr5eted funds Restrlc¢ed fund$ Donations Grants 23.401 23.401 40,911 56.160 23,401 23.401 97.071 Granis w¢iv¢d. Included in the above. are as follows: Z023 21122 OtheT grants 56,160 OTHER TRADING AcfIvITIES 2023 Total fn$ 2022 Total funds uttrestri Restrlcted funds funds Fundraising events 2.597 2.597 4,012 INVESTMENT INCOME 2023 Total funds 2022 Tot*1 fund$ Uttrestrieted funds Restricted funds Deposit account interest 554 554 INCOME FROM CHARrrABLE ACTIVITIES 2023 2022 Irish DepartJneDt of Foreign Affairs Charitable activities Total attivities Total attivities Fees received from a¢tivitie5 London Borough of Souihwark Dept of Foreign Affairs and Trade: Emigrant Support Benevolent Society of St Patrick Member fees LK)ndon Community Fund 25,539 20.000 25.539 20. 5,378 136.723 136,723 12,(MJO 5,806 81272 125,246 12,0 5.806 81.2?2 2.198 83.856 136.723 144.617 281.340 216.678 Pag¢ 14 continued...
SOUTHWARX IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS- c4)ntin4ed FOR THE YEAR ENDED 31ST MARCH 2023 RAISENG FUNDS RAISING T)ONATIONS AND LEGACIES 2f123 Total funds 2022 Tolal fund5 UJtr¢stricted Restrt<ted funds funds Professional services eost 1.834 CHARITABLE ACTIVITtES COSTS Direct Costs (see note 8) Charitsble adiviti¢S 352.980 DIRECT COSTS OF cHARABLE ACTtvrriES 2023 2022 Stsff costs Rates and war Light artd heat Printing,p05thge, stationery and t¢lephone Rerniitment expenses Hall hire Social activities. classes & outings CotTmunity teaTn telephone expenses Building mainl¢nance, ¢leanin8 Community ieam travel and other expeDses Insurance Equipment rentxl IT sUPPOrt & software Bank charges Volunteer expeTJses lient & tales DBS, subscription & training t£gal and professional fees Payroll & Accountartcy fees Audit fees Benevolent Sociery expenses Depreciation 268,028 126 1.873 1,896 147 12.633 18,390 3295 3,683 249,014 1.358 5.392 714 7,480 5,763 3,292 3,909 1.984 ,541 475 2,572 614 28 241 2,797 3.411 4.896 2,800 5.269 2,276 1,828 4.873 693 1.493 12.323 928 3.420 4,125 2.800 7,087 2,276 352,980 305.826 Page 15 ntinucd...
oirriNARX IIUSH PENSIONERS PROJE NOTES TO THE FINANCIAL STATEMENTS- ¢oTrtind FOR THE YEAR ENDED 31ST MARCH 2023 OTHER 2023 Total 2(122 Total funds Unrestri¢ted Restrleted funds funds Du&s & subscription 470 110 580 io. NET INCOMEI(EXPENDITURE) Net incomel(expendifure} is stared after charwngl{crediting)'. 2023 2022 Depreciation - owned 2276 2.276 TRUSTEES, REMUNERATION AND BENEFrrs There were no trustees, remunerdtion or oth¢r benefits for the year ended 3 1st March 2023 nor for th¢ year ended 31 st March 2022_ TRUSTEES, EXPENSES There were no trustees. expenses paid for th¢ y¢At ended 31M March 2023 nor for the year ended 31si March 2022. 12. STAFF COSTS 2023 21122 Wages and salaries Social s¢¢urity cos Other pension costs 247.508 18,209 2.311 229,812 17.756 1,446 268.028 249.014 The average monthly number of employees during the year was as follows". 2023 2022 Direci Services No employ¢es received enK)luments in exces5 of £60.IKM). Page 16 continued...
THWARK I HPEN IONE PR NOTLS TO THE FINANCIAL STATEMENTS- contitted E YEAR EN ED31 T MARCH 2 13. TANGIBLE FIXED ASSETS Pl*nt And machip¢ry Computer equiprnemt COST Ai I st April 2022 and 3 1st March 2023 29.111 22.701 51,812 DEPRECIATION Ai Isi Aprs12022 Charge for year 29.110 15.324 2.276 44,434 2,276 At 31$1 March 2023 29.110 17,6(Kl 46.710 NET BOOK VALUE At 3 1st Maich 2023 5.101 5,102 At 31si March 2022 7,377 7.378 A4. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2023 2022 PrepaymenL8 13.026 781 15. CREDITORS: AMOUNTS FALLTNG DUE WTTHIN ONE YEAR 2023 2022 Trdde creditors Social security and othcr tsxes Naiwest One¢ard Deferred income Accnled expenses 5.831 6.325 631 69,164 2.800 3,S21 6,554 1.855 65,202 2,800 84,751 79.932 io. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2023 Totsl funds 21122 Tot21 funds Unrestricted fUd Restricted Fixed assets CuJTeni assets Current liabililies 5.102 219.306 (84.751) 5.102 246,455 (84.751) 7,378 285.028 (79,932} 27.149 139.657 27.149 166.806 212.474 Page l? continued...
soirrHWAiiK tRISH PENSIOIYEKS PROJEcr NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2023 17. MOVEMENT tN FUNDS Net movement In funds At 31J.23 At 1.422 Unrestricted fuDds General filnd 193,892 (54.235) 139,657 Restricteij funds Restsicted fijnd 18.582 8,567 27.149 TOTAL FUNDS 212.474 (45,668) 166,806 N¢t movement in fi& includ¢d in th¢ abov¢ are as follow5: In¢omiDg resources Resources expended Movement in funds Unrestrltted fund$ General nd 57.897 (112.132) (54,235) Restri¢ttd funds Restricted bjrtd 249.995 (241.428) 8,567 TOTAL FUNDS 307.892 (353.560) (45,668) Compar3tive5 for movement in fuAd$ movement in fund5 At 31.3.22 At 1.4.21 Unrestricted funds General fijnd 202,365 (8,473) 193.892 Restricted fund$ Restricted fu1 18.582 18.582 TOTAL FUNDS 202.365 10,109 212.474 Page 18 continued...
SOUTHWARK IIUSH PENSIOI¥ERS PROJECT TEST THE FINANCIAL STATEMENTS- continued FOR T[ YEAR ENDED 31sr MARCH 2023 17. MOVEMENT tN FUNDS- continued Comparative rtet movement in fi15. included in the at<•ve as follows.. IDeomiDg resource5 Resourees expended Movement in funds Unrestricted fund$ General fund 90.667 {99.140) (8.4731 Restrieted funds Restricted fund 227.102 (208.520) 18,582 TOTAL FUNDS 317.769 (307,060) 10,109 18. RELATED PARTY DISCLOSURES There were no related party trarL8actions for the year ended 315t March 2023. 19. RECONCILIATION OF JYET (EXPENDrfuREVANCOME TO NET CASH FLOW FROM OPERATING AcrivrrIES 21123 2022 Net {expeDditure)fjncoe for tbe reportine per5od (as per the Statement of fjnanciwl activities) AdjustmtDts for: DepTlatIon charg¢s Inleresi received lrtrease in debiors Irease in creditors (45,668) 10.109 2.276 (554) {12,245) 4.819 2,276 (81 (1681 3.346 Net (used iD)Iprovided by tsptr#tion5 (51,372) 15.555 20. ANALYSIS OF CHANGES IN NET FUNDS At 1.4.22 C#sh llTrw At 31.3.23 Net tash Cash at bank and in hand 284,247 (50.818) 233.429 284247 (50.818) 233,429 Total 284,247 {50.818) 233,429 Page 19 continued..
SOUTHWARK IRISH PENSIONERS PROJE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEIKR ENDED 31ST MARCH 2023 21. DESIGNATED FUNDS The tn¢ome funds of the charity include the following designated funds which have been set aside out of unrestricted funds by th¢ tnLStees for specific purposes: Movemeni in Fund In¢oming Re50urees resources expanded Balance at I April 2022 Balan¢e at 31 March 2023 Trdll5fers Contingency fund Remembrance fimd FutUTe running costs 130.000 1,000 62.892 130.000 1,000 8,657 57,898 (112.133) 193.892 57.898 (112.133) 139.657 22. GOING CONCERN The Boaid 1)SiderS thai the Charity has adequate resources and sufficient sources of funds available for the foreseeable future. Therefore, the Board believe that 11 is appropriate for this reason to continue to adopt the going concern basis in preparing the financial statements foi the year ended 31 Mawh 213. Page 20
SOUT NERS PR Ecr DETAILED sfATEMENT OF FINANCIAL AcrtvrriES FOR THE ENDED 3 ST MARCH 2023 2023 Total 2022 Totgl fllnds Unr¢5trict¢d funds Reslricted fvDds INCOME AND ENDOWMENTS Dongtion$ and legaeie$ Doftations GT3nts 23.401 23,401 40.911 56,160 23.401 23.401 97,071 Other trading aetlvities Fundraising events 2.597 2,597 4,012 lrtvestment income Deposit a¢couni inl¢T¢St 554 554 Charitable aetivities Fe¢5 received from a¢tivities tx)ndon Borough of Southwark Dept of Foreign Affairs and Trade.. Emi Support Benevolent Society of St Patrick Member fees London Community Fund 25,539 25.539 20.0(K) 5,378 20.(XKI 136.723 12,IK)O 136.723 12,(K)O 5,806 81272 125246 5.806 2.198 83.856 81.272 31.345 249.995 281.340 216,678 Total Incoming resources 57.897 249,995 307,892 317.769 EXPENDITURE Raising doThatlons *Dd legaeles Profession815ervice5 ¢OSt 1.834 CharSt#ble actlvitl W8g¢s Social security Pensions Rates arld water Light and heat Printing.postsge. staiionery and telephone Recruitment expenses Hall hire &)cial 8Ctivities, cla55¢5 & oulings Community team telephone expenses Building mainienante. cleaning Cot)ununity team travel and other expenses Insurance Equipnxnt r¢ntal Carried fonvard 65.674 13.CM)I 2.311 126 1.873 1.887 181.834 5.208 247.508 18,209 2.311 126 1,873 1,896 147 12.633 18.390 3,295 3.683 1.063 1.828 229,812 17.756 1,446 1.358 5,392 714 7,480 5,763 3.292 3,909 1.984 1,541 475 280,922 147 12.633 10.337 2,728 2.962 2,010 1.828 8,053 567 721 (947) 93.266 219,696 312.962 This page does noi forni w of the stattWOry finala1 slatem¢nts Pag¢21
SOUTHWARK IRISH PENSIONERS PROJECT DETAILED STATEME*T OF FIP4ANCIAL ACTIvrriES FOR THE YEAR ENDED 31 T MARCH 211Z3 2023 Total 2022 Total fuThds Unr¢stritt¢d fwTrds Restricted funds Charitable aclivities Brought forward tT support & sotlware Bank charges Volunteer expenses Rent & rate5 DBS, subscription & training Legal and professional fees Payroll & Accountaney fees Audit fees B¢nevolent Soci¢ty exp¢Dses DePClarion of thngible red assets 93.266 43 693 1,365 10.619 219,696 4.830 312,962 4,873 693 1,493 12,323 928 3.420 4,125 2.800 7.087 2.276 280,922 2.572 614 28 241 2.797 3,411 4,896 2,800 5.269 2,276 128 1.704 928 3.420 3,S25 2.800 7.087 2,276 111.662 241.318 352.980 305,826 Other Dues & subscription 470 110 580 Total resources expended 112.132 241,428 353.560 307.660 Net Income 154.2351 8.567 145,668) 10,109 This page diKs not forni part of the ststutory financial slat¢meTIts Page 22