REGISTERED COMPAIYY NUMBER: 03915939 (England and Wales) REGISTERED CHARITY NUMBER: 1088387 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR SOUTHWARK IRISH PENSIOLYERS PROJECT Leroy Reid & Co Chartered Certificd Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR
SOUTHWARK IIUSH PENSIONERS PROJECT CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Reference and admlnlstratlve detall$ Report of the trustees Independent examlner's report Statement of finanelal aetlvltles Statement of finanelal posltlon 9 to 10 Stvdtement of ea$h flows Notes to thL flnanclal statements 12 to 19 Detalled statement of financiol actlvlties 20 10 21
SOUTHWARK IRISH PENSIONERS PROJECT REFERENCE AND ADMINISTRATtVE DETAILS FOR THE YEAR ENDED 31ST MARCH 21124 TRUSTEES Mrs H A Morrin Mrs H O'connor Mrs M E O'connell (resigned 3.10.24) Ms M Moyle Ms V Quinn (resigned 3.10.24) J Rice M Donnelly K M Doyle COMPANY SECRETARY Ms M Moyl¢ REGISTERED OFFICE 6 Market Placc Bermonds¢y SE16 3UQ REGISTERED COMPANY NUMBER 03915939 (England and Walcs) REGISTERED CHARITY NUMBER 1088387 INDEPENDENT EXAMINER Leroy Reid & Co Chartcrcd Ccrlilied Accounlants and Statutory Audilor8 299 Northburoubyh Road Norbury London SW164TR BANKERS CAF Bank 25 King8 Hill Avcnuc Kings Hill West Malling Kcnt ME194JQ National Westminster Bank plc Camberwell Branch 70 Dcnmark Hill London SE5 8TT Page I
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THF. TRUSTEES FOR THE YEAR ENDFD 31ST MARCH 2024 The Trustees who are also Directors of the charity for the purposes of the Companies Act 2006. present their report with thc fin(InLi41 statements of the charity for the year ended 31st MarLh 2023. The Trustees have adopted the pruvi.%ions of Accounting and Reporting by Charities: Statement of Rccon]mendcd Practice applicable to charities preparing ihcir accountb in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ircland (FRS 102) (effcLtive l January 2019). The accounts have been pr¢par¢d in accordance with thc accounting policics 8Ct out in notc i to ihe accounts and comply with the charity's governing documcnt, thc Comp(inie5 ALt 2006 (ind the StatemLt of Rccommcndcd Praclicc, Accountingy dT]d Reporting by Chariti¢s" issued in March 2005. OBJECTIVE.S AND ACTIVITIES Objectives and Ydims The objects of the Project a$ 8Ct uut in our bloverning document are: SIPP is established mainly, but not .8olcly for thc bcnefit of elderly people resident OT working in thc London Borough of Souihwdrk dnd surrounding arc¢lb, who ar¢ Irish or of Irish d¢s¢enl by: l. Relieving .8uch peopl¢ who are in condilions of poverly. sicknes8 and dislrcss or who are othcrwise in need. 2. Providing and assisting in the provision of facilities for the recreation and other leisure time occupation of su¢h pLopIL in the interests of social wclf4r¢ and so that their conditions of lifc may bc improved and. 3, F.xtending Ihc coinmunity supporl servicc to tamily Mem.r of any whc'rL it is LILarly inipo88iblc to improve thc quality of lifc (Trf the member without doing so. Mission Statement Suuthwark Irish Pen.8ioncr8 ProjcLt (SIPP) exists to allcvialc ihc isolalion of oldcr Lri811 pcople, liviT]&i in tr*OUth London, many of whom hdVL diverse and complcx nccd8, ciiabling thLm lo IivL' With dignity conglstcnt with their personal choices and pr¢fcrencei+. Though practical support, we help Ihcm tu impTUVL their wellb¢ingF and claim fin&n¢ial support. W¥ aLt with kindnc88 and compassion and are culiurally awar¢, buildingp lon&J term trustingv relationships thal en¢oura&Fe friendt>hips, happy mL'mories, comn)iinily 8piril and a d¢¢p sense of belonging, Publle benefit Tlic TrustLLS hilV¢ referred to Ihc guidancc contained in the Chariiy Commission's general guidance on public bcncfit wh¢n rcvi¢win&y our aiins and objcctives and believe thal in providing our 8crviccs to our Incmbers and to the older local community. help is ultimately being providcd 10 a signifiLant proportion of tho &p¢ncral populalion. Volunteers Our volunteers are withoui doubt our &vreatesl asset and invaluable to our organisation. They give their time freely and joyfully. Thanks to ThL National Lottery Reaching Community Grant which has extended our Helping Hands Scheme, our voluntLcr tLdrn conlinues to grow. We held a thank you evenl in June for all our voliinleers, many attended, some preferred nol to atlend, but Ihey dre all valued for the joy and kindness they bring to our member&4 and their commilmenl lo thc ProjL¥t. Som¢ of our volunteers have given their time for more than 20 ycar4. othcr8 wi arc just rccruiting we can never express our gratitude enough to each and cvcry one. Our volunteer befrienders regularly visit lonely and isolatcd cldcrly pcople mth8tly living alone, others living in care homes and sheltered housing units. The volunteer is frcqucntly th¢ir only 'non-prufL88innal' vi.silor. Some long-lerm volunteers help with various aclivitics in thc day scrviLe and with variou% events througFhout the year. Our tcam of nearly 60 volunteers not only help us to provide our services, they enhanLe them with their eneigy dnd vibrance and w¢ ncvcr tire of tclling them so. Page 2
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED.IIST MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charltable actlvlties Community Service During the year, the comrnunily team provided support to 452 individuals, with over 3000 home visits and more than 2000 welfare calls to x people. The carer support worker made 367 home visits and more than 300 welfare calls over the period, hospital visitors provided 315 visits to 91 people providing them with tailored support from hospital admis4ion through to thcir discharge and there were 78 outreach support visits to more than 12 pubs in south London supporting 19 individuals to maintain th¢ir Icnancies. acccss much needed statutory services and some lo move into appropriate housing. The Lommunity team providLd support to LliLnts to dCCC88 lo a broad rangye of statulory and voluntary gervices, with a focus on parliLularly vulnerable Llients who are housLbound and hard to reach clicnts. 188ues inLluded mental health, hspila1 discharge and hoinc care packages, physical health issuLs. housing including trunsfcrs to supportcd housing, nursing and EMI car¢ and re8id¢nlial care liomes, managing debt, wclfarc benefits. addictions, carer support. bereavement bupport and form filling. We mÉiinlain d high numbcr of clients who livc with complLx nccds th¢r¢for¢, advocacy is an essential coniponent of our everyday work. Our staff team have a lot of cxpcrience and Lxpcrlise, they arc molivatcd to 80 thc cxlra mile for our clicnts, and are well respeLtLd by Ihc statutory and volunlary a¥LnLicq ihey work with. Thi8 year. 2 members of the cornmunity team compl¢t¢d advocacy training with linancial suppurl from the Natii)nal L()Ilcry. This training has enabled Inore of the team to dcvclop thcir advocacy skill.4 particularly in rcgard to our hospital advocacyldisLhargc schenie. Hardship Grants We administer hiirdship gyrunts on behalf of The BcnLvolcnl S(Kicty of si Patrick. This year wc di81ributed nedrly L16K in gyranl.s lo individuals and fainilies in need. rccLiving rcfcrrals Iroin l>cvcral Irish orgydnisulions in 50ulh London, Cili£en8 Advicc. E4ou,8in&' A$8ociations, addiction agyinLiL.s and voluntary ()r&Tiinisations. We havc noted an inLrca8c in dcinand for suppoi'l lor basic8 i.c. lood and clothingy. aLros% all age ranLTC5. Thi8 is a due to thL cost of livingy Lfi%i8 that &ffLLting cvcryonc bul 18 Particularly difficult for Ihosc living on a low incoinc. Advice Servite Our advice worker provided an udvice service 2 days a wLk ( 100 days) to 128 individua15 over the yciir. Some people nLcdcd lo allcnd on scvcral occasions duc lo many and LomplLX i&Tr%UC8. Most appointmLnt8 are pre-bookLd however, WL alsi) havc a nuinbcr of 'walk-in8' who may bc assisted by anothcr staff mcmber if dpprnpriale or bookLd iii for another day. Thcre is a hITrh Icvcl nf sMtisfa¢ticin wilh this service and due to dcinand we hdvc applied for furthcr fundingF to expand and develop thc service. There arc many and varied reasons f()r 8cckingF adviLL including housing i88UCS (rom inoving lo more approprialc housin&F to houyin¥ rLpiiirs, Iri8Ii and UK pcnsions, challcngc8 to welfare bcnLfit dc¢isions, dcbt managcmenl, accL88ing stalulory and voluntary sLYviccs, along with support to a¢¢ess online services and form filling. Day Servlce Day sLrvice attendance averaged 42 people a day at our Brixton and Bcrmondsey drop-ins, with a total of 221 individuals attending throu&ihvut the )rar. W¢ continued to provide our warm hubs through the winter months. offcring a warm wclcomc alon&r with a nutritious homem<idL soup and warin bread. It was very well received by the pensiuners who benefitted from the company along with the fo(Kl and warmth. Our pensioners enjoyed many day irips and long w¢¢k¢nds including 'turkey & tinsel, weekends, along with the regular activities - tea dances, board games, film clubs, arts and crafts. yoga classes and IT session, all of which kept our day services interesting, busy and wcll dttended. Wc arc forlunate to have a dedicated team of volunteers helping to provide the activitics and supporting the work of the organis¢r. Cultural Events and Celebrations Our Christmas and St Patrick's Day celebrations were held in the Executive Suite in Millwall FC, where the Millwall staff take such good care of our members - over 160 members, their carers, families and friends thoroughly enjoyed both events. Our Christmas Fair is always a popular event with staff joining in the mei'rymaking dressed a5 Santa and his elves! The hall was 1[ more than 50 members and their families joined with the Riv¢rside JuT]ior School singing Christinas carols and raised the rooti. Page 3
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 We held a Mcmillan Cancer ndraiSing morning in SeplemlKr where our members baked and boiled some scrumptious cakes and we raised over £700. We delivered over 120 goody bags and hampers this year, all with an Irish th¢me. St Michaels College in Bermondsey collect lots of food and donate to us which we add with our own and other donations, to deliver to people in need as well as those who have no family living nearby so are alone over Christmas. All leftover goods were donated to local foodbanks. Throughout the year we sent birthday cards lo all our pensioners who are so pleased to be remembered as this is often the only birthday card they receive. We also sent Christmas cards to everyone and we distribute our quarterly newsletters lo all our members to ensure they are kept informed and to keep them included in the Irish community. Fundin% The Trustces are deeply gratL1 for the financial support from all our donors, charities and trusts that provide financial support ds well as the individuals who provide valuable pro-bono advicc and consultancy, In particular, we are incredibly grateful to ihe Irish Cjovcrnment for their continuLd support Ihroug,h the Emi¥ranl Support Programmc, adminislcrLd by thL Dcpiirlmcnt of Forcign AtTair8 and in the year ¢ndcd 31 March 2024 they providcd a grant uf £150.726 thtit WIIS disburt>ed to the Lharity on 291h Augu8( 2023. This &yrant Lover8 the period I st July 2023 tL) 30th June 2024. The gyrant lias been spent for the purposLb SPLLificd. The amount calculatcd in respect of the period April to June 2024 lor £ 37,682 will bc 8penl in the next financial ybar an(1 so has not been reLordcd as income for the year cndcd 31 MarLh 2024 but 19 L(Irricd f()rward as dcferred income on thc balancc sheet. Our gralclul thank.% to Southwtirk C()uncil for tlieir untiringy sUPtM)rt lor thc Project over many y¢ars and who provided finanLidl 8iipporl tUWdrd&> our community service in particular towards our ho8pilal advocacyldischurgL sLhcmc. We are al&>0 very grateful to the National Lottery for Iheir support of our Helping Hiindslvolunleer Schemc. Our in-house fundraising achicvcd ovcr £10,000 this ycar through bring and buy ¥&1¢8, rafflcs, bake t>ales eÉL whiLh all helps towards the evcryday cxpcn.8C8 of thc day clubs. FINANCIAL REVIEW Flnaneial posltion We the Truste¥s, are satisfied wilh Ihe perforinance of the charity for the yLdr undcr rcvicw. Our poliLy rcgarding reserves is to iiiainlain Ihcin at a Icvcl Ihal will mcct all currcnt expenditure Lommitmcnl8 for 6 months inLluding redundancy payment8 in thc unlikcly LVLnl that, throu¥h 1088 of funding, we are forced tL) cI()sc. Thc Tru8tcc8 rcmdin Lunfident that, whilst reco&ynit>tngF the economiL unLcrtainty, Ilie Charity remuiny optimi8lic Ihal il can ¥ontinue t() maintain and grow its servAce8 lo meel the demand for scrviL'Ls rLquir¥d by our ¢orc LliLnt ba8c in the coming financial year. Colng cnncern The B()ard Lon5iders that Ihc Charity has adcquate resources and 5ufficiLnt sourcc8 of fund5 availablL for Ihe foreseeable future. Thercforc, thL Board bcliiv¢ that il 18 appropriale for this reason to Lontinue to adopt the going concLrn basis in prcparing7 thc findniial stdtLments for thc yLar cndLd 31 March 2024. FUTURE PLANS Wc will conlinuc t(J providc an effeLtivL dily è+ervicc and il rc8ponsivc community support scrvicc lo our clients whilst devcloping our advocacy scheme and our Helping Hands Proj1. We will conlinuc to pursue fundraising opporlunilies to support the on&roingy sustainability or sipp. Page 4
SOUTHWARK IRISH PENSIONERS PROJECT IiEPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, Governance and Management The charity is controlled by its governing document. a deed of trust, and constitutes a limited company. liinited by guarantee. as defined by the Companies Act 2006. Southwark Irish Pensioners, Project is a company limited by guarantee, is not for profit and does noi have a capital divided into shares. The company is governed by its Memorandum and Articles of Association daled 28 January 2000. The coinpany is a registered charity. Membership is open to those who lfIl the agreed membership criteria in force at the time. The Trustees, who are also the Directors for the purpose of Company Law, and who sit on the management committee all served during the year were: J Rice- Chair K Doyle & M Donnelly- Joint Vi¢¢ Chair H O'connor - Treasurer M Moyle - Comp(Iny Secret¢lry M O'connell Mcmbership SLcr¢tary V Quinn H Moi'rin Management Commltteo All Ihc abovL TrubtLcs comprisL thc Management CommiltCL mLmbcrs who served during the year, Recruitment ¥dnd 4ppointment of nciv truslce5 The Trustees of Southwark Iri8h Pen8ioncr8' Projecl are appointcd lo otTice undcr thc provisions of thc Arliclcs ol. Association. We are sceking lo rccruit ncw Tru8lccs from our mcmbcrship to ent>urc that, atr> our Articles statc. wc will always havc a minimum ot'3 MC m¢mbLrs who drc mcmbcrs of the Pi'ojccl so ensuringT thL eth()s of'SIPP rLmain. Organlsatlon Thc Board of TruteeS supervises the charity. The Board meels reglularly &vengrally bi-monthly and at other limcs if an urgent decision is required. Our expcricnccd manager oversee8 slaft'and the day-tu-duy running ot the churity. Shc has delegyated authority. within Icrm8 Ot. dLlcgyuti(In approvcd by Ilic Tru8lec8, for operdtional matlcr.s includinb, financc, employment and thc dcvclopmcnt of thc Project. Trustee Tralnlng We Lonlinue lo attend training to cn8urc wc arL awarc of existing and new legislation. Wc usc the servicLS of our IIR and Legal Adviscr8 lo cnsurc wc aLt IL&ydlly al all tim¢8. Our mcmbcrship ot. the NCVO give> u8 acccss to it's Tru.%tLc inforination including a broad spectrum of training opportunities and scminars plus a variety Of information sheets and othl'r publications which we inake good use of, Including webinars in Charity Law, CJDPR and Employment Law. Key management remuneratlon Nonc of th¢ Truste¢5 are paid a salary or reimbursed expenses for servi¢¢s rendered. Their services arc all voluntary. No employee in the charity is paid a salary over £60,000 pa. Related partles Therc were no related party transactions for the year under review. Rlsk management The trustees have a duty to identify and revicw the risks to which the chdrity 15 exposed and to ensure appropriate controls are in place to provide rcasonable assurance against fraud and ¢rror. Risk management is an important agenda item at Management Committee meetings. Our risk management register 15 maintained and updated regularly. Identified risks and Ihe procedures for minimising those risks are in place and are reviewed quarterly to ensure they Continu¢ to meet Ihe specific n¢eds of the charity. Trustees review poli¢i¢s and priKedures on a i'olling programme. Approved by order of the board of trustees on . and signed on its behalf by: Page 5
SOUTHWARK IIUSH PENI SIONERS PROJECT REPORT OF THE TRUSTEFS FOR THE YEAR ENDED 31ST MARCH 2024 M Donnelly- Trustee Page 6
INDEPENDEiNT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTHWARK IRISH PENSIONERS PROJECT Independent examiner's report to the trustees of Southwark Irish Pensioners Project ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 sl March 2024. Responsibilities and basis of report As thc chiirity'5 tru&4tees of the Company (and also ils directors for thc purposes of company law) you are responsible for the preptiratiun of the accounts in accordance with the requirements of the CompaniLs Act 2006 ('the 2006 Act,). Ilaving 8atisficd myscif that the ¢lLcounts of the Company arL nut rcquircd to bc audited under Part 16 of the 2006 Act dnd arL' eligible for independent exarnination, I repurt in respect of my cxtiminalion of your charitys accounts ils carried out under Section 145 of the Charities Act 201 I ('the 2011 Act,). In barrying out my examination I have followed the Directions given by the Charity Commission und¢r Section 145{5) (b) of the 201 l Act. Independent examiner's Statement SincL your charills gro88 inLomL cxcecdcd £250,000 your CKamincr must be a member of a listed body. I can conflnn that I am qualificd to undertake the examination because l am a membcr of Ihc A.88ociation of Chartered Certified Accountant, which is one of the listed bodies. I have completed my cxamination. l Lonfirm that matters have come lo my attention in connection with th¢ examination giving me cause to believe.. accounting records wcrc not kcpt in respect of Ihc Company as required by Section 386 of the 2006 Act. or thc accounts do n()t a¢cord with thos¢ r¢¢ords' or th¢ accounts do not comply with the accountingy requirements of Scclion 396 of the 2006 Act other than any requirement that the accounts give a true and fair view whiLh its not a mattcr considered a$ part of an independent examination; or the accounts havc not bLcn prcparcd in accordancc with Ihe Inethods and principlcs of the Sldlumcnl of Rccommendcd PraLtic¢ for 4LLounting and rcporting by charities (applicable to Lhiiritics prePrIng thcir accounts in accordanLe with the Financial Repurling Stdnddrd applicablc in the UK and Rcpublic of Ireland (FRS 102)). I have no Loncerns and havc cornc acro88 no olher matters in connection with thL exaniinalion to which allcntion should be drawn in this rcport in ordLr to cnablc a propcr undcrstanding of th¢ accountb to bo i-cached. Ebenezer Okai BSC, FCCA Leroy Reid & Lo Chartered Certified Accountants and Slalutory Auditors 299 Northborough Road Norbury London SW16 4TR Date: Page 7
SOUTHWARK IRISH PENSIONERS PROJECT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Totgl funds 2023 Total funds Unrestricted fund Restricted lund Notes IIYCOME AND ENDOWMENTS FROM Donationb ilT]d lebFaci¢s 25,440 25,440 23,400 Charltable actlilties Bcncvolent SoLiety of St Patrick Irish Department of Foreign Affairs Charitable aclivities Community Fund LB Southwark 15,000 148,0111 15,000 148.018 20,069 83,536 81,500 12,000 136.723 31,345 81,272 20,000 20,069 83,536 81,500 Other trading activitie8 Investment inLome 14,156 1,277 14,156 1,277 2,597 554 Total 60,942 328,054 388,996 307,891 EXPENDITURE ON Charltable actlvltle8 Charitablc activities 75,420 322,598 398,018 352,979 Othcr 580 Totgl 75,420 322,598 398,018 353,559 NET INCOMEI{EXPENDITURE) {14,478) 5,456 (9,022) (45,668) RECONCILIATION OF FUNDS Total tund.$ broughi forward 139,657 27,149 166,806 212,474 TOTAL FUNDS CARRIED FORWARD 125,179 32,605 157,784 166,806 The notes forn) part of these financial statement5 Page 8
SOUTHWARK IIUSH PENSI()NERS PROJECT REGISTERED NUMBER: 03915939 STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 12 725 5,102 CURRENT ASSETS Debtors Cash at bank and in hand 13 3,186 240,739 13,026 233,429 243,925 246,455 CREDITORS Amounts falling due within one year 14 (86,866) (84,751) NET CURRENT ASSETS 157,059 161,704 TOTAL ASSETS LESS CURRENT LIABILITIES 157,784 166.806 NET ASSET.S 157,784 166,1106 FUNDS Unrc8tricied ndS RctrIcted ndS 16 125.179 32,605 139,657 27,149 TOTAL FUiYDS 157.784 16C?,806 Th¢ charitable company is enlitlcd lo exemplion from audit under Section 477 of the CompaniLs 2006 for the year ended 31st March 2024. The membcr4 h4ve not required the company to obtain an audit of its financial stat¢mcnts for the ycar Lndcd 318t March 2024 in accordance with Section 476 of the CompaniLs ALI 2006. The trustlC8 acknowledbre their rebponsibiliticg for (A) ensurinb, thilt the charitable company keeps accounting rccords Ihal comply with Se¢lions 386 and 387 of thc Companies Act 2006 and prcparing financial statcmcnts which givc a truc and fair view of th¢ stat¢ of atyairs of the charilable company as at ihc end of each financial year and of its surplus or d¢ficit for each financial year in accordance wilh the requirements of Scctions 394 and 395 and which othenvise comply with the requir¢menls of the Coinpanics Act 2006 relating to fLnancial statements, so far as applicable to the charitablg company. (b) The notes form part of these financial statements Page 9 continued...
SOUTHWARK IRISH PENSIONERS PROJECT REGISTERED NUMBER: 03915939 STATEMENT OF FINANCIAL POSITION - eontlnued 31ST MARCH 2024 These financial statement5 have been prepared in accordance with the provisions applicable to Charitable companies subject to the small companies regime. The financial statcments were approved by the Board of Trustees and authorised for issue and were signed on its behalf by: on J Ric¢- Trustee H O'connor - Trustee The notes form part of these financial statements Page 10
SOUTHWARK IIUSH PENSIONERS PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR EIYDED 31ST MARCH 2024 2024 2023 Notes Cash floivs from operating activities Cash generated from operations 18 6,032 (51,372) Net cash provided byl{used in) operating activities 6,032 (51,372) Cash flows from Investlng rdctlvltles Salc of tangiblc fixed assets Int¢r¢bt r¢1Ved 1,277 554 Nct ca8h providcd by invc8ting activitics 1,278 554 ChAnge In cash And c&$h equlvalent$ fin the reportlng perlod C#sh and cash equlvalents at the bcgtnnlng of the ri'portlng perlod 7.310 (50,818) 233.429 284.247 Cash llnd cash equlvalents At the end of the reportlng perlod 240.739 233,429 The notes form part of these financial statements Pagell
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31.ST MARCH 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS Th¢ financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practicc applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard dpplic&ble in the UK and Rq)ublic of Ireland (FRS 102) (effcctive l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements hav¢ been prepared under the historical cost convention. INCOME All income is recognised in the Statcincnt of Financial Activities once th¢ Charity has entitlement to the funds, it is probablc that the inconie will be received and the amount can bc ineasured reliably. EXPENDI'fuRE Liabilitics are rc¢ognised a5 expendilure as soon as the is a legal or conbtruLtivL ubligalion committing the chllrity to that expenditure, it is probable that a transfer of economic bcnefils will be requircd in seiilement and the amount of the obligation can be ineasured reliably. Expenditur¢ 18 accounlcd for on an tiLcrualg basis and has been classificd uiidcr h¢adings that aggrcgatc all cost related to thL Latcgory. Where cost.4 cann()t bc dtrcctly attributcd to particular headings they havc bccn allocatcd to activitie5 on a ba.818 con8islent with the usc of r¢sourccs. TANGIBLE FIXED ASSET.S Depreciation is providcd at thc tollowing annual rate8 in order to write off cach asscl over itt> eslimatcd uscful lifc. Plant tind machinery Computer equipment 20D/D on Lost 25/D on c05t TAXATION Thc charity is cxcmpt from Lorporation tax on ily Lharitablc aclivilies, FUND ACCOUNTING Unrestricted llds can be uscd in accordance with ihe charitable objectiVC,4 al thc di.scretion of th¢ tru51ces. Restricted filndti can only b¢ used for particular rcstriLtcd purposes within the objc¢ls of the charity. Restrictions arise when specified by Ihe donor or when funds are rais¢d for particular restriLtcd purpo8e8. Further explanation of the nature and purpos¢ of ¢a¢h fund is included in the notc8 to the financial statem¢nts. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS Thc charitablc Company opcrat¢s a dcfin¢d contribution pension schemc. Contributions payable lo the Chdrilablc cornpanys pension scheme are charged Iv th¢ Statcment of Financial Activitics in the period to which they relate. GOING CONCERN Management acknowledges that uncerlainly remains over the funding dvailabilily. however, managcmcnt has a reasonable expectation Ihat the Southwark Irish Pensioners Project has adcquate rcsources to continu¢ in operational existence for the foreseeable ture. Page 12 continued...
SOUTHWARK IIUSH PENSIONERS PROJECT NOTES TO THE FINANCIAL ST ATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 DONATIONS AND LEGACIES 2024 Total funds 2023 Total funds Unrestricted run(Is Restricted funds Donations 25.440 25,440 23,400 OTHER TRADING ACTIVITIES 2024 Tot#1 funds 2023 Total funds Unrestricted fund Restrlcted funds Fundraising events 14,156 14,156 2,597 ILYVESTMELYT INCOME 2024 Total funds 2023 Tolal fund$ Unrestrlcted funds Restricted funds Dcposit account intcr¢st 1,277 1,277 554 INCOME FROM CHARITABLE ACTIVITIES Irish Depxrtmenl Benevolent Soelety ofst Putrick F(Jrelgn Affalrs Charltable clivities Fees receivcd from activiti¢s London Borough of Southwark Dcpt of Foreign Affairs and Trade,. Emigirant Support Benevolent Society of Sl Patrick Meinber fec.4 London Lommunity Fund 15,323 148,018 15.000 4,746 15.000 148,018 20,069 2024 Total aetlvltles 2023 Total actlvltles Communlty Fund LB SouthTrv&rk Fces received from activities tA)ndon Borough of Southwark D¢pt of Foreign Affairs and Trade: Emigrant Support Benevolenl Soci¢ty of St Patrick Member fees ndon Community Fund 15,323 81,500 25.539 20,000 81,500 148,018 15,000 4,746 83,536 136,723 12,000 5,806 81,272 83.536 83,536 81,500 348,123 281.340 Page 13 continued...
SOUTHWARK IIUSH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31ST MARCH 2024 CHARITABLE ACTIVITIES COSTS Direet Costs (see note 7) Charitable activities .398.018 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Rates and water Light and heat Printing,poslagc, Stationery and telcphone Recruitment Lxpenses Social activities, classcs & outings Cummunily team tclcphone expenses Building maint¢nance, cleaning Cominunity team travel and olhcr cxpenses In8urancc Equipmvnt rental IT support & .software Bank charge. Volunteer cxpenses Renl & ratC&p DBS, subLr1pt10n & training Lcgal and professional fLcs PayToII & Accountancy fees Independent Examiner5 Fee Benevolcnt S()Ll¢ty ¢xpenscs Dcprcciation 275,372 546 3,079 4,890 268,028 126 1,873 1,896 147 31,022 3,295 3,683 1,063 1,828 43,733 1,390 4,600 1,413 1,994 602 5,406 864 I,S46 10,354 5,813 6,041 4,385 3,800 17,514 4,376 4,873 693 1,493 12,323 928 3,420 4,125 2,800 7,087 2,276 398,018 352,979 OTHER 2024 Total funds 2023 Tolal funds Unrestrlcted funds Restrlcted funds Dues & subscription 580 Pag¢ 14 continud...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 NET INCOMEIIEXPENDITURE) Net incomel(expenditure) is stated after charging/(crediting): 2024 2023 Depreciation - owned assets 4,376 2,276 io. TRUSTEES, REMUNERATION AND BENEFITS There were no tru8tccs' remuncratiun nr othLr bcnefits for the year ended 31st March 2024 nor for the year cndcd 31.8t March 2023. TRUSTEES, EXPENSES There were no trustees, expenses paid for the year ended 31st March 2024 nor for thc year ended 31 st March 2023. STAFF COSTS 2024 2023 Wage?) and Salaries Social security C0818 Other pen8ion cost$ 254,941 17,949 2,482 247,508 18.209 2,311 275,372 2611,028 The average monthly numbcr of cmployccs during thc ycar wa8 a8 follows: 2024 2023 DireLI Service• No cmploy¢¢s r¢¢¢ived emoluments in excess of £60,000. Page 15 continued...
SOUTHWARK IIUSH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 12. TANGIBLE FIXED ASSETS Plant and machlnery Computer equipment Totals COST At I st April 2023 Disposals 29,111 (29,111) 22,701 (10,757) 51,812 (39,868) At 31st March 2024 11,944 11,944 DEPRECIATION At l st April 2023 Charge for year Eliminated on disposal 29,110 17,600 4,376 (10,757) 46,710 4,376 (39,867) (29,110) At 31st March 2024 11,219 11,219 NET BOOK VALUE At 31st March 2024 72S 725 At 31 st March 2023 5,101 5,1112 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayment8 3,186 13,026 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditor8 Social sccurity and othcr taxcs Natwcst Onecard Deferred income Accrued expengcs 848 5,592 3,098 72,928 4,400 5,831 6,325 631 69,164 2,800 86,866 84,751 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds Unrcstrlcted fiind Restricted fund Fixed assets Currcnt assets Current liabilities 725 207,520 (83.066) 725 243,925 (86.866) 5.102 246,455 (84,751) 3().405 (3.800) 125,17() 32,605 157,784 166,806 Page 16 continued...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 16. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestrlcted funds Gcneral fund 139,657 (14,478) 125,179 Restricted funds Restricted fund 27,149 5,456 32,605 TOTAL FUNDS 166.806 (9,022) 157.784 Net movement in funds, included in thc abovc arc a8 follow8: Ineomlng resources Resources expended Movement In fundg Unrestrleted funds GcnLral nd 60,942 (75,420) (14,478) Restricted funds Restricted fund 328,054 (322,598) 5,456 TOTAL FUNDS 388.996 (398.0111) (9,022) Comparatlves for movement In funds Net movement In funds At 31.3.23 At 1.4.22 Unrestrieted funds General lld 193,892 (54,235) 139,657 Restrl¢ted lund5 Restricted fund 18,582 8,567 27,149 TOTAL FUNDS 212.474 145,668) 166,801) Page 17 ¢ontinu¢d...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMEIYTS - continued FOR THE YEAR ENDED 11ST MARfH 2n24 16. MOVEMENT IN FUNDS - continued Comparative nct movcment in funds. includcd in thc above are as follows.. Incoming resources Resources expended Movement ID funds Unrestricted funds General fund 57,897 (112,132) (54,235) Restrlcted funds Restricted fijnd 249,994 (24 I,427) 8,567 TOTAL FUNDS 307,1191 (353,559) (45,()()8) 17. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 st M8rLh 2024. 18. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 NL't Lixpendlture f(Jr the reportlng perlod (as per the Statement of flnanclydl actlvltles) Adjustments for: Depreciation charges Interest received Decrea8cl(incrcasc) in dcbtors Incrca8e in creditors (9,022) (45,668) 4,376 (1,277) 9,840 2,115 2,276 (554) (12,245) 4,819 Net cash provlded byl{used In) operatlons 6,032 (51,372) 19. ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 CAsh flow At 31.3.24 Net eAsh Cash at bank and in hand 233.429 7,310 240,739 233,429 7,310 240,739 Total 233,429 7,310 240,739 Page 18 continued...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2024 20. DESIGNATED FUNDS The income ndS of the charity include the following designated funds which have been set aside out of unrestricted ndS by the trustees for specific purposes: Mov¢ml in Fund Incoming Resourcc8 resources expanded Balance at I April 2023 Balance at 31 March 2024 Contingency fijnd Remembrance fund Future running costs 130,000 1,000 8,657 130,000 1,000 (5,821) 60,942 (75,420) 139,657 60,942 (75,420) 125,179 Page 19
SOUTHWARK IIUSH PENSIONERS PROJECT DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestrieted funds Restricted funds INCOME AND ENDOWMENTS Donatlons and legaeies Donations 25,440 25,440 23,400 OthL'r tradlng Aetivities Fundraising events 14,156 14,156 2,597 Investment Income Deposit account interest 1,277 1,277 554 Charltable actlvities Fees rccciv¢d from activiliL¥ London Borough of Soulhwark Dcpt of Foreign Affairs and Trade: Emi&Jrant Support Flenevolcnt Society of St Patrick Mernr fees London Community Fund 15,323 15,323 81,500 25.539 20,000 81,500 148,018 15,000 148,018 15,000 4,746 83,536 136,723 12.000 5,806 81,272 4,746 3,536 20,U69 328,054 348,123 281,340 Total Incoming resources 60,942 328,054 3811,996 307,891 EXPENDITURE Charltable activities Wagcs Social security Pensions Rates and water Light and heat Printing,poslagc, stationery and telcphone Recruitment cxpcnses Social activities, classe8 & outings Community team Iclcphone expenscs Building mainlcnance, cleaning Community tcam travel and other expenses In8uraT]ce Equipnient renlal IT support & software Bank charges Volunteer exp¢ns¢s Rent & rates DBS, subscription & training Carried forward 21,568 554 2,482 546 1,614 2,515 233,373 17,395 254,941 17,949 2,482 546 3,079 4,890 247,50X 18,209 2,311 126 1,873 1,896 147 31,022 3.295 3,683 1,063 1,828 1,465 2,375 20,373 23,360 ,390 2,511 1,149 1,994 602 3,024 43,733 1,390 4,600 1,413 1.994 602 5,406 864 1.846 10,354 5,813 361.902 2.089 264 2,382 864 1,674 7,779 608 65.312 4,873 693 1.493 12,323 928 333,271 172 2,575 5,205 296,590 This page does not form part of the statutory financial statements Page 20
SOUTHWARK IRISH PENSIONERS PROJECT DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restrieted funds ChArltable actItIeS Brought fonvard Legal and professional fees Payroll & Accountancy fees Independent Examiners Fee Benevolent Society expenses Depreciation of tangible fixed assets 65,312 2,500 3,065 296,590 3,541 1,320 3,800 17,347 361.902 6,041 4,385 3,800 17,514 4,376 333,271 3,420 4,125 2,800 7,087 2,276 167 4,376 75,420 322,598 398,018 352,979 Other Dues & subscription 580 Total resources expendcd 75,420 322.59 398,018 353,559 Net (expendSture)Ilncome (14.478) 5,456 (9,022) (45,668) This page does not form part of the statutory financial statements Page21