REGISTERED COMPANY NUMBER: 03915939 (England and Wales) REGISTERED CHARITY NUMBER: 1088387 REPORT OFTHE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 21125 FOR SOUTHWARK IRISH PENSIONERS PROJECT Leroy Rcid & Co Chartered Certified ArKountants 299 Northborough Road Norbury London SW16 4TR
SOUTHWARK IIU HPE NE PR REFERENCE AND ADMI Tl EDET FOR THE YEAR ENDED 31ST MARCH 2025 TRUSTEES K M Doyle (Joint Chair) M Donnelly (Joint Chair) Mrs H O'connor Ms M Moyle Mrs H A Morrin Mrs M E O'connell (resigned 3.10.24) Ms V Quinn (resigned 3.10.24) J Rice (resigned 3.12.25) COMPANY SECRETARY Ms M Moyl¢ REGISTERED OFFICE 6 Market Place B¢mionds¢y SE16 3UQ REGISTERED COMPANY NUMBER 03915939 (England and Wales) REGISTERED CHARI'rY NIJMBER 1088387 INDEPENDENI, LK4MINER Leroy Reid & Co Chartered Certified Accountants 299 Northborough Road Norbury IAJndon SW164TR BAIYKERS CAF Bank 25 Kings Hill Avenue Kings Ilill West Malling Kent ME194JQ National Westminster Bank plc Camberwell Branch 70 D¢nmark Hill London SE5 8rr Page I
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 The Trustees who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordancc with the Findncial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (elTectiv¢ l January 2019). OBJEC'fivES AND ACTIVITIES Objectives and aims Th¢ objwls of the Project as set out in our governing document are: _ SIPP is established mainly, but not solely for the benefjt of elderly people residenl or working in the London Borough of Soiithwark and surrounding ar¢as, who are Irish or of Irish descenl by.. l. ReliLving suLh people who are in conditions of poverty, sickness and distress or who are otherwis¢ in n¢¢d, 2. Providing and assisting in the provision of facilitlL% for Ihc rccrcation lind other Ic'isufL tinie occupation of such people in the intcr¢sls of social wcltarc and go that their conditions of life may be improved and. 3. F.xtending the community support service lo tamily mcnibcr.q ol. any agc whcrL il 18 clcarly impossible to improve the qualily of life of Ihc member without doing $0. Mlsslon Statement Southwilrk Iri%h Pensioners Proj¢cl (SIPP) exists lo alleviate the isolation of older Irish people. living in south London, many of whom havc divei'se and complex Iiccds, cnabling Ihcm to livc with dignily consistenÉ with Iheii. personal choices and prLfcrences. Though practical 8upport, we hclp Ilicin to improvL thcir wLllbLing and Llaiin financial support. Wc act with kindnes8 nd compa.s.%ion and are cullurally awarc, bui Idingy longy term trustingp relationships that encuuragyL friLnd¥hip8, happy mLmoriL'¥, Lommunity spirit and a dL'LP >cllse of belonginsj. Public benefit Thc Trustees havc rcfLrred lo the guidancc conlainLd in thc C'harity Commisè>ion's gL'ncral giiidancc on public bcncfit whcn rcviLwing i)ur aims and objccl'ivc8 and LK.licvc that in providinby our services lo our m¢mbLrs and to thc oldLr loLal Lommunity, help 15 uliiinatLly bcing provided lo a significant proportion of the general populaliun. Voluntccrs Our 60 voluntccrs are, withoul qUCStion. our grLatcgt assLt and thc bcaling heart of our org#nisation. Thcy givc th¢ir time frL'Lly, gcnLrously, and with gLnuinL' joy. Thanks to the National Lottery Reachingy Community Grant, whi6h has cxpanded our Helping Flands Scheme, our volunteer team continuc8 to grow and flouri8h. We held a Ihank-you event in June lo celebratc thL'm all- Inany attended, .4om¢ prcfcrrLd not to - but cvLry tsinglc onc ot" Ihcm 18 decply valued for Ihc kindncss, warmth, and commitm¢nt Ihcy bring to our members and to the Project. Some of our volunteers have ken wilh us for more than 20 years. others have only just started with u5. No matter how long they have serv¢d. we can never fully express our gratitude. Our 30 volunteer befrienders offer weekly or twice-weekly vi511s to older p¢i)ple who are lonely or i501ated, many of whom live alone. while others are in care homes or shelt¢red housing. For some. the volunteer is the only person who visits th¢m who isn't a professional. We also have several phone befriender5 who call two or three times a week, offering friendly, reassuring check-ins that bring comfort and joy to housebound individuals, especially those with no family. Many of oiir long-standing volunteers support activities in the day service, others help riin events throughout the year. and soin¢ lend a hand with admin, office Support, gardening, DIY, and other essential tasks. Oiii. volunteer5 don't just help us deliver our services- they enrich them. Theii. energy and compassion elevale everything we do, and we never tire of telling them just how extraordinary they are. Page 2
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitable actlvltle8 Community Service Over the past year, our community teain has supported 376 individiials, offering not just practical help but a warin and understanding person willing to assist them when they inost iieed assistance. They carried out more than 2,300 home visits, often visiting peoplL' who had no one else coming to the door and made over 2,200 welfare calls to 346 individuals, many of whom rely on these check-ins for reassurance, guidance, and connection. Our carer support worker reached out with 303 home visits and welfare calls to 46 carers, offering them much-needed understanding and relief during difficult times. Our hospital visitors inade 260 visits to 78 people, meeting them at some of their most vulnerable moments. From admission through to discharge, they provided encouragement, advocacy, and tailored support, ensuring no one faced the process alonc. Mcanwhilc, our assertive ()ulreach workcr madc 153 visits to 10 pubs aci'oss south London. supporting 29 individuals to hold on lo their ILnanLies, engage with essei)tial serviLes. and. for some, find safer and mor¢ appropriate housing. Throughoul the y¢ar, Ihe community team hclped Llicntb navigatL a widc and ()ftc'n ovcrwhelming range of statutory and voluntary s¢rvices. Many of the pcoplL' WL. support are huuSL.tK)und, isolated, or hiird to rcach, and the challenges Ihey fa¢¢ be complcA- nicntal hcalth difficullies, hospilal discharge and home-cdre nLcd%, p(x)r phy4ical hcalth, insecure housing or movcs into supported or rc%idcntial cai'c, dcbi, wcltarc bonctits, addiction, ¢ar¢r strain, and th¢ endlc88 paperwork that comes with all of Ihc8C i$SUL%. Becaiisc .%0 many ofour clicnl8 livc with miiltiple and deep-rooled needs, advocacy IS dt thL hcart of what wc do. Our staff brin&i expericncc, compa88ion, and delerinination lo every 51tualion. Thcy consistently gy() IhL Lxlra milc- not because it is requircd, but kLilUSL they care. ThLir dLdicalion has carncd thcin 8li'on&y respect from the statutory and volunlary parlncrs th¢y work alongiyide, and Ihcir impaLI 18 fLIt cvcry day in thc Iivc8 of the people they support. BcL'au8c of IliL' nature of our work, we ofiLn walk beside fHmiliL'5 durinLi some of IIIL. Inost painfLII Inoinenls ol. their lives. Whcn our clients pass away, Ihcir fdmilies turn lo us for support - sometimes arriving in England in dccp grier lo arriingFe a funeral, somclimc8 prcparin&y lo return the loved one to Ireland, and often needing guidancc Ihroiigh thc legalities and ditTicult prdLtILdlitiLs that follow a108S. This ycar, wc said &yoodbye to 53 of our clicnl4 - Ihc hiLvhe51 niimbLr wc have cxpcriL'nccd 8incc Covid. F.ach lotss has bcLn dccply fLlI. For our slafi., who havv shared years of ionneLtion, trust, dnd daily lifc with many or thc.se individuals, their passing Icavc8 J rLal v()id. It also loucheb the close friends they Indde through thL projccl, who sense of Lommunity and bLlon&Fing is shaken by cach dcilth. These losses ai-c not just numbers lo us, thcy arL pcoplL' who8c Iivc8 rnatt¢r¢d, and whose absence is profoundly felt aLrc)88 oui. cntir¢ Lommuniiy. Hardship Gr4nts Wc adminislcr hardship gyranls on behalf ofTh¢ BLnLvulLnl 8()cicty of St P¢ilriLk. Thi8 ycar we distributed over £12K in 42 granls to individuals and famili¢,5 in llL7¢d, reLeiving referr¢ilb froin several Irish organisalion8 in souih London, cit17.ens Advice. Ilouqing A880¢iations, addiction agcncies and many voluntary 0rgianisutionTr. Wc hilvc ni)tcd an incLease in demand for emergency support for basicb i.c. food and clothing. across all agc ranges. This is a due lo the ost of living crisis thal is affecting everyone but is particularly diificult for those living on a low income. Day Serviee Oiir day services remained vibrant and well attended throughout the year. On average, 48 people joined our Tuesday Bermondsey drop-in, 37 attended the Brixton drop-in, and around 20 caine lo our Thursday Bermondsey session. In total, 222 individuals took parl in our day services ovei. the year. Our pensioners enjoyed a wide variety ofoutings, from pub lunches and visits to local places of interest lo long "turkey and tinsel" weekends. Alongside these excursions, our regular activities-tea dances, board games, film clubs, arts and crafts, yoga classes. and IT sessions - helped keep the atmosphere lively, engaging, and welcoming. This yeai- also marked a very special milestone.. 20 years of yoga with Jane. whose calm presence and unwavering dedication have supported and enriched the lives of countless allendees, some of whom have shared nearly the entir¢ two decade5 Wlth her. Page 3
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 We are deeply grate1 for our wonderthl volunteers, whose time, energy, and compassion help bring our activities to life and support the work of our day service coordinator. For many of our older community members, the day service offers far inore than activities- it provides connection, friendship, and a sense of belonging. And even for those who can no long¢r attend due to frailty or ill health, the relationships they formed here continue to be a source of comfort and companionship. The pensioners also took an active role in supporting the Project by organising their own fundraising days. Through baking. knilling, crocheting, and selling unwanted gifts and clothing. they created events that were not only well attended but also raised valuable funds for fulurc aclivitics. Our in-housc fundraising achicvcd ovcr £13,000 this y¢ar through bring and buy sales, raffl¢s, bak¢ sal¢s etc which all helps towards the everyday expenses of the day clubs. We hcld a joint Mcmillan Cancer fundrditser in September where our membei's baked Jnd boiled some %Lruinptious cakcs and we raised ovLr £800. Our christma.s Itair is always a popular Lvcnt with statT and volLinteers joiningy in the merryn(Ikinb drc.ssing lip as Santa and his L'lvc8! ThL' hall waè+ full morl than 50 mL'mbers and their familie8 joined with the Rivcrsidc Junior School singing Christmas carols and raised the rootl. Working with St Michacl.s CollLlgYL' in Berinondsey we delivered Christmas hampers lo older people in need as well as soine families. AnhIng ILft uver we donatcd to local foodbanks. Throu8houl th¢ year we scnl birthday cards to all our pen&4ioners who are so pleased to bL remL'mlKTLd as this is i)ftcn thc only birthday card Ihcy rLCClVC. We also sent Christmas cards lo cveryone and we distribute our quarterly newslellcrs to all our mctnber&> lo ensure they arc kcpt informcd and lo kccp thcm connecied lo our coininunity. Cultural Events and Celebration5 30th Annlversary Celcbratlons: His Ex¢Lllcncy Ambas8ador Marlin Fraser and his wife Deirdre graciou8ly wclconied us tu the Irish F,Inba8sy tu celebrate the 301h annivL'rsury of ihe Soulhwark Irish Pcn8ioncrs Projcct this past Oclobcr. Thc Embassy's beautiful receplion ri)onis provided a filtingy aiid elcgant biiLkdrop for an cvLning that honourcd thrcc dccadc8 of dcdication, friendship, and cummunily spiril. GIic8t8 inLludcd staff, longF_Standingy >upporterS, LIS WCII a% mL'nibcr% &ind voluntccrs who havc bccn with us siiice our vcry fir8t duys. Many of those presenl had helped shape IhL PrujLLt into thL wurrn <ind vibrant comniunity il is today, and il deeply moviiigy to see iheni reunitcd in siich an iinporlanl selling. The atrn05phere wa4 one of genuine celcbration and pridc. Thc Amba8%udor %pokc warmly about the signilicant contribution that IhL Project has made lo Ihc live.% of oldcr Irish pLoplc in Soulliwark (Ind acro%8 London. I li% word8 acknowlcd8cd not only the praclical 8upport offei'ed over the years, but the sense of belongying and Lullural LonnL'Lli()n that rLniainy at the hcarl ol. ()ur w()rk. HL paid tribule lo the slrengyih and resilience of oui. member5-many of whom travelled to London a8 young L'migyrants- and rccogniqcd thc uniquc rolc thc Projccl play8 in ensiiring their slories, Iradilions, and expLriLnLe&+ continue to bc valued and hcard. Throughnut thc evening. gucsts Sharcd memories of early coinmittee meetings held in borrowed conimunity rooms, draising events organis¢d with delerminalion and g(x)d humour. and Ihc 8tcady expansioii of 8erviccs made possible Ihrough th¢ commitinenl of countlcss volunteers. Thcrc wa.s a strong bcn8c of continuity, Wlth ncwcr suppoi'ters proudly joining in the celebration of those who laid the foundation for our work. We are fortunate to ¢njoy siich langiblc 8upport from thc cmbag8y of Ircland and thc govcrnmcnt of Ircland. It is not just financial, but also the cncoiiragcmLnt they provide lo our staff, volunteers and meinbers is vital. This cvent helpcd to ci'¢ate a memorable occasion that honoured the past while looking confidently toward the future. The reception at the Irish Einbassy was not only a celebration of thirty remarkable years, but a reminder of the enduring spirit of comniunity that continues lo sustain the Southwark Irish Pensioners Project today. Celebrations for Christmas and St Patricks day at Mlllwall: Our Christinas and St Pati'ick's Day celebralions were held in the Executiv¢ Suite in Millwall FC, where the Millwall staff lake such good care of our members - over 180 members. their car¢rs, families and friends thoroughly enjoyed both events. Page 4
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 FINANCIAL REVIEW Flnanclal positlon We the Trustees, are satisfied with the performance of the charity for the year under review. Our policy regarding reserves is to maintain theill at a level that will meet all current expenditure commitments for 6 months including redundancy payments in the unlikely event that, through loss of funding, we are forced to close. The Trustees remain confident that, whilst Tecognising the economic uncertainty, the Charity remains optimistic that it can continue to maintain and grow ils services to meet the demand for services required by our core client base in the coming financial year. However, w¢ remain concerned thal our reserves are depleting and our costs increasing. We note the effect of p¢rsistently high infl&tion, we note thal our members require Inoi'e and more care and intervention as they age and bwome morc fragilL'. Wc kiiow thdt due to the gyr¢dl agc of ()ur Inembers. thcy will unfortLinately not be around forevLr. WL cxpect that thL Lhdrity may not cxi.sl in ils current forin in ten years timL. The ncxl five years arc crucial so that we Can s¢cui'c our short to medium tcrm tuturc. and guarantcc that wc can serv¢ our mcmbci-s with the diginily and respect that Ihcy dLqcrvc. Prln¢lpal funding sources Th¢ Trustees are dc¢ply grateful lor IhL financial 8upporl from all our donor8. ¢haritie5 and Irugls that provide financial support as wcll us thc individuals who provid¢ valuablL pro-Ix)no advicc and consultdncy. n parliLular. we are incredibly &PraleI to thc Irish Government for their continu¢d support through the Emigyrant Supp()rl Progiramnie. adininistered by thc DLparlmcnl ol. Forcign AtTairs and in the ycar ¢n(Icd 31 March 2025 Ihcy provided a granl ol. £175.000 that was di5biir5L to Ihc charity on 9th Augu8t 2024. This gyriint ¢ovcr8 the periiKI 1st July 2024 to 30th Junc 2025. Thc grant hds been spcnt for thL purpoycy ypccificd. The amoiint LulLul<cd in rcspecl of Ihe period April to Junc 2025 for £ 43,750 will be spL'nt in the next financial ycar 8nd so has not bcLn rccordcd as incoinc lor thc y¢ar ¢nd¢d 31 March 2025 bul is carried forward as deferred inLom¢ on thc balance sheet Our grutLful thanks lo Southwark Council for thcir unliring siipporl for thc Project ovcr many yLar8 aiid who providLd finanLial support lowards our community outrLuch 8crvicc. We are also very gratcful lo thc Nati()nal Lottery for thcir support of our Hclping I landslvolunteer SLhL'mc. GolnL) coneern ThL Board Lonsiders that the Charily ha8 adequate resourccs and 8uificienl sourc¢% of funds availltble for thc foresccable future. Thercfore, the Board bclicvc that il is apprupriatc for this reason to Lontinu¢ ti) adopt the goin concern basi8 in prcpai'ing the finanLial 5tut¢ment5 for thc ycar ¢nd 31 March 2025. FUTURE PLANS We will continue to provide an cffcctive day service and a responsive community support scrvicc lo our client5. are graleful to City Bridgc Foundiltion for a grant to dLVL'lop a nc'w adviLc 8crvicc which as well as providing in house se8sions and oiitrLach advicL visits, will work towards achieving dn AQS foi. thL ,%crvice. Page 5
SOUTHWARK IRISH PENSIONERS PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Structure, Governancs and Management The charity is controll¢d by its governing document, a deed of trust, and constitutes a liij)ited company, limited by guarantee. as defined by the Coinpanies Act 2006. Southwark Irish Pensioners, Project is a company liinited by guarantee, is not for profit and does not have a capital divided into shares. The company is governed by its Memoranduin and Articles of Associalion dated 28 January 2000. The company is a registered charity. Membership is open to those who fulfil the agreed membership criteria in force at the time. Tlie Trustees, who are also the Directors for the purpose of Company Law, and who sits on the management committee all served during the year were.. K Doyle - Joint Chair (appointed 25103125) M Donnelly- Joint Chair (appointed 25103125) H O'connor - Treasurer M Moyle - Company S¢cr¢tary H Mi)rrin E Manson (appointed 13111124) K Crawford (appointcd 13111124) A Sw¢ency (uppoint¢d 13111124) J Rice (Chair - resi&pned 25103125) M O'connell - Meinbcrship SLLI'etary (resigned 03110124) V Quinn (rcsigncd 03110124} Reerultment and lppolntment ()f new trustees The Tru51ees of Southwark li'i%h PLnsioners' Project are appointed lo office under Ihc provisions of thc Article8 of Association. We are scckiii¥ Ii) rcLI'uil new Trustees froin our mcmbership lo ensure that, as our Arliclc4 %latc. wc will alway8 have a minimum ()f 3 MC, members who arc mcmbcrs of thc Projccl $0 cn8uringy the ethos ofsipp will rcm&lln. Organisation The Board uf Trustees supervi8e8 the Lharity. The Board meets TegFularly gFenerally bi-monthly and at oiher tiines il. an urgent decision is reqiiired. Our LxpLricnLed managier oversee% staff and the day-lo-day runnin&y of thc charily. Shc ha8 delegated auihoi'ily, within tLrni8 of deleby<ition approved by Ihe Tru8lcc8, toi. opertIonal mdllers inLluding finanLC. cmployrncnl and thc dL'vclopmLnt of the Project. Truslee Training We continue to attend training lo cnsurc we are aware of existingy and new legFislalion. Wc usc thc scrviccs of our I IR and Lcgal Adviscr8 to cn8uI'e WL aLI legally al all tiine8. Our mcinlKrsliip ol. the NC'VO &yives us UCCLSS t() il'5 Truglcc information including a bro¢id ypectruin of. Iraining opportiinitiC8 and scminars plus a variely of inforination shcL'ts and oth¢r public<ltivns which we niakc good USL of. including wLbinars in Charily Law, CJDPR and Employm¢nt Law. Key mang%em¢nt remuneratl(bn Nonc ol. thc Tru8tCLS are paid a salary or reimbursed expcnses. All services rendered are voluntary. Rel8¢ed parties Thcrc wcrc no rclatcd party transactions for the year under review. Risk management Thc Irustce5 have a duty to id¢ntify and review the risk8 to which the charity is exposed and to ensure appropriat¢ controls are in place to provide reasonablc assurdnce against fraud and error. Risk management is an important agenda item at Management Committee meetings. Our risk managwient regist¢r is maintained and updated regularly. Identified risks and the proccdurcs for ininimising those risks are in place and are r¢vi¢wed quarterly to ensure they conlinue to meet the specific needs of the charity. Trustees review policies and procedures on a rolling progi'amme. Page 6
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31 S'I- MARC FI 2025
TRUSTEES, RESPONSIBILITY STATEMENT
ThL IruslLes lil.ho arL al%0 ilie (lir¢cl()I's of Souihivark lyish l)ensioners ProjeLL foi. piirpDsL's ol" coii)piiny laiv} are
resi)onsible lor pleIrIng rhe Report ofihl Irusi¥es aiid the lincinLldl slatLm¢nls in llcL()rdancc w'iih &ppliLabl¢ laii, an(1
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Cniiipan), lllii. re(ILiifLS ihe Iiwslees lo prL'pllre finiinLinl Slalcthenls foi. eacli fl11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUI'HWARK IRISH PENSIONERS PROJECT Independent examiner'$ report to the trustees of Southwark Irlsh Pensioners Projeet ('the Company,) I report lo the charity trustees on my exainination of the accounts of the Company for the year ended 3 1st March 2025. Responsibilities and bas1$ of report As the charity's trustees of the Company (and also ils directors for the purposes of company law) you are responsible for the prq)aration of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your chariigs accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Cominission under Section 145(5) (b) of the 201 l Act. Independent examiner's statement Since your charit9 gross income exceeded £250,000 your examiner must be a member of a listed IxKly. I can confirm that l am qualifi¢d lo undertake the examination because l am a m¢mber of the Associalion of Chartered Certified Accountants, which is one of the listed EM)dies. I have complelcd my examination. I confirm that no matters have come to my attention in conneclion wilh ¢hc examination giving me cause to believe: accounting records werc not kcyt in respect of th¢ Company as rcquircd by ScLtion 386 vf the 2006 Act. or the accountTr do nol acci)rd wilh those rccords- or thc accounts do not comply with thc acLuunting rcquir¢m¢nts of Section 396 of the 2006 Act other than any rLquirc'menl that the account.s givL a true and fair view which is not a niattcr con8idcrcd a8 purl of an independent cxamination. or Ihe accoun18 have not IxLn prepared in accordtince wilh the methods and principleb of the Stalemenl of Recommcndcd Praclicc foi. dccounting and reporting by charitics (appliLable to charilies preparing thcir account.s in accordancc with the Financial Reporling Standard applicdble in the UK and Republic of ircl&ind (FRS 102)). I havc no concerns and hllve comc acrobs no oiher mattLrs in connection with Ihc examination to which attention ¥huuld be drawn in this report in ordcr to enable a pr()PLr underslanding of'thc accounts to bc reaLhed. Ebcn67.er Okai BSC, FCCA Leroy Rcid & Co CharlerL.d L¢rtified AL¢ountants 299 NorthtrK)roiigh Road Norbury London SW164TR Dat¢.. ... Page 8
SOUTHWARK IRISH PENSIONERS PROJECT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestrlcted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and Icgaiies 29,306 29,306 25,440 Charitable aetivities B¢n¢volent Socicty of St Patrick Irish Department of Forcign Affairs Members fee and Millwall ticket sale The National tA)tlcry.' Community Fund LB Southwark 15,000 168,932 15,000 168,932 9,732 86,073 30,000 15,000 148,018 20,069 83,536 81,500 9,732 86,073 30.000 Other trading activities InvestmcDt in¢omL 13,574 1,329 13.574 ,329 14,156 1,277 Total 53,941 300,005 353,946 388.996 EXPENDITURE ON Charlloble 4ctivltles Mcmbcrs fee and Millwall ticket sale 118,642 284.586 373,228 398,018 NF,T INC.OM F,I(F,XPENDITURE) (34,701) 15,419 (19.282) (9,022) RECONCILIATION OF FUNDS Total fiind8 brought furward 125,179 32,605 157.7R4 166,806 TOTAL FUNDS CARRIED FORWARD 90,478 48,024 138,502 157,784 The notes form part of these financial statements Page 9
SOUTHWARK IRISH PENSIONERS PROJECT REGISTERED NUMBER: 03915939 STATEMENT OF FINANCIAL POSITION 31ST MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets 353 725 CURRENT ASSETS Debtors Cash at bank and in hand 12 1,263 227,978 3,186 240,739 229,241 243,925 CREDITORS Amounts falling due within one year 13 {91,092) (86,866) NET CURRENT ASSETS 138,149 157,059 TOTAL ASSETS LFSS CURRENT LIABILITIES 138,502 157,784 NET ASSETS 138,502 157,784 FUNDS lJnrestriLted funds Restricted funds 15 110,478 48,024 125,179 32,605 TOTAL FULYDS 138,502 157,784 Thc ¢harildble coinpany 1% cnlitled lo exemplion from audit undcr Section 477 of the Cuinpdnics ALt 2006 for thc ycar ended .1 1st March 2025. Thc Incmbcrs have not requircd thL' Lompany to obiain an audit of its financial statcmenls for the year ended 318t MurLlI 2025 in accordanc¢ with S¢¢tion 476 0l.ihc Companies ALI 2006. The trustees acknowlcdge their rcsponsibilitiC8 for (a) en8urin8 thal the charitablL LOliiP41ny keeps accounting i'ecords that comply with Sections 386 and 387 of the Coinpanies Acl 2006 and prepdring financial statement.s which give a truc and fair view of the ¥+tate of affairs of thL charitablc compsiny as al ihc cnd of ¢ach financial yciir and of it¥ surplus or deficil for each financial year in accordance with the requircm¢nts of Scclion$ 394 and 395 and which olhcrwisc comply with thc rcquircmcnls of the Conipanies ALI 2006 relating tv fin4incial statemen15, 50 far as appliL<ible to the charitdbl¢ company. (b) The notes form part of these financial statements Pag¢ 10 continu¢d..
1131Jl il).19 These financial StIeMents hhv¢ been ptrpftred in accord1¢¢ iyith ihe provisions applicable to charithble LX)mpanies subject lo the small CoMp]IeS regime. The fii)ancial statements ivcrc approved by the Board of Trustecs and 8uthorised for issue 10th D¢cember 2025 wid were signed on its behalf by: on 'rhe IK)les fonii parL ol, thLse liiianciul ylai¢menls PllgL' I I
SOUTHWARK IIUSH PENSIONERS PROJECT STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 17 (13,643) 6,032 Net cash (used in)/provided by operating activities (13.643) 6,032 Cgsh flows from investlng actlTrltles PurLhase of tangiblc fixcd assets Sale of tangiblc fixed assets Intert received (447) 1,.129 1,277 Net cash provided by investing activities 882 ,278 Change In cash And cash equivalents In the reporting period Cash and eash equlvYdlent5 Ht the beginning of the reportlng perlod (12,761) 7,310 240,739 233.429 Cgsh and cash equivalents 4t the end of the reporting period 227,978 240,739 The notes form part of these financial statement5 Page 12
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STA TEMENTS The financial stateinents of the charitable company, which is a public benefit et)tity under FRS 102. have been prcpdred in accordance wtth the Charities SORP (FRS 102) 'Accounling and Reporting by Charilies.. Statement of Recommended Practice applicable to charities pr¢paring their accounts in dcLorddnc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeLlive l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Compani¢s Act 2006. The financial stateinents have been prepared under the historical cost convention. INCOME All incoine is recognised in the StatcinLnt of Financial Activities once the charity has entitlement to the nds. it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilitic% arL' rLLognised as expcnditur¢ as soon as there is a Icgal or constructive obligation committing the charity to that expendilurc, il is probable that a ti'ansfer of cconomiL bcn¢fil8 will be rcquircd in settlement and thL 41mounl of the obligation Lan be ineasured rcliably. ExpL'nditurL' is (iccounlLd for on an accruals basis and has been cla4sificd undci- headings thal aggrcgatc all cost related to the Llltegory. Where costs cannol bc direclly attributcd to particular hcadings thLy hav¢ been allocated lo activities on a basis Lonsistent with th¢ us¢ ofrc80ufLL5. TANGIBLE FIXED ASSETS Deprecialion is pi'ovidld at the following annual r4ltcs in order to wi'ite off edLh a%sLI ovci. it&4 Lslimalcd use1 life. CompulLr equipment 25D/o ()n cust TAXATION The charity 18 cxcmpt frum corporalion tax on il% charitublc aLtivities. FUND ACCOUNTING Uni'istricted ndS can be used in accordance with Ihe charilablL ohjLclivcs al the discretion ot. Ihe trustees. Restricted fund8 can only be used for particular rL'5tricted purpos¢s within th¢ objeLt5 of the cliarily. Reslriclions drisc when specified by the donor or when funds are raised for particular restri¢t¢d purp(Y•¢S. Furihcr explanation of the natur¢ and purpose ol'each lund is inLludcd in thc notcs to thc financial stateinents. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS Thc charitable company opcratC¥ il defined Lonlribiition pcn%ion schcme. Contributions payable to the charitable company's pcnsion bcheme are chargcd lo IhL Sldtcm¢nl of Financial A¢tivitiLs in Ihe pcrii)d lo which they rclatL. GOING CONCERN Managjeinent acknowlcdges that unccrtainly rcinains i)vcr the ndIng availability, however, managcmLnt has a reasonabl¢ expectation that thc Southwiirk Irish Pensioners Projecl ha5 adequate resources to continue in operational existence lor the foreseeable futui'e. Page 13 continued...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STA TEMENTS - contfinued FOR THE YEAR ENDED 31ST MARCH 2025 DONATIONS AND LEGACJES 2025 Totydl funds 2024 Total funds Unrestrieted funds Restricted funds Donations 29,306 29,306 25,440 OTHER TRADING ACTIVITIES 2025 TotAI funds 2024 Total funds Unrestrlcted funds Restrieted funds Fundraising events 13.574 13,574 14,156 INVESTMENT INCOME 2025 Total funds 2024 TDtal funds Unrestrlcted funds Restricted funds Deposit account interest 1,329 1,329 1,277 INCOME FROM CHARITABLE ACTIVITIES Irisli Depllrtment of ForelRn Affairs Meinbers fee wnd Benevolent Soclety ofst Pydtrick tlcket sale Fcc8 rLYeived from uLtivilies London Borough uf Soulhwark Dept of Forcign Affairs and Trade.. F.migranl Support Bcnevolcnt Society of St Patrick M¢mb¢r fees London Community Fund 5,575 168,932 15,000 4.157 15,000 168,932 2025 2024 The National Lottery: Communlty Fund LB Southivark Total activitles Total ctivilies Fees receivcd froni activiti¢s London Borough of Southwark Dept of Foreign Affairs and Trade: Emigrant Support Benevolent Society of Sl Patrick 5,575 30.000 15.323 81,500 30,000 168.932 15,000 148,018 15,000 Carried forward 30.000 219,507 259.841 Page 14 continued...
SOUTHW ARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - eontlnued FOR THE YEAR ENDED 31ST MARCH 2025 INCOME FROM CHARITABLE ACTIVITIES - continued 2025 2024 The N&tional Lottery: Community Fund LB Southwark Total Aetivilie5 Total aclivities Brought forward Member fees London Coinmunity Fund 30,000 219,507 4,157 86.073 259.841 4,746 83,536 86,073 86.073 30,000 309,737 348,123 CHARITABLE ACTIVITIES COSTS Dlreet Costs (see nthte 7) Members fee and Millwall ticket sale 373.228 DIRECT CUSTS OF CHARITABLE ACTIVITIES 2025 2024 Strdff co>tS Rales and walcr Li&Thi and hcat Prinling,po.%ldgL, stationery and Iclcphonc R¢cruilmcnl expenses Social a¢tivities, ¢la8sc8 & outings Community team tclcphune expenses Buildingv maintcndnce, cleaning Communily tcam trdvel and other cxpcn8CS In%urancc Equipment rental IT support & software Bank chargcs Voluntccr cxpenses Rent & rates DBS. subscription & training Legal and pi'ofe55ional fee.s PaiToII & Accountancy fccs Independent Examinors Fee Benevolent Society expenses Depreciation 262,461 544 2,984 5,288 559 37,448 2,588 3,664 282 1,982 808 5,098 733 3,569 13,022 1,642 9,029 4,056 3,800 l 2,852 819 275,372 546 3,079 4,1490 43,733 1,390 4,600 1,413 1,994 602 5,406 864 1,846 10,354 5,[413 6.041 4,385 3,800 17.514 4,376 373,228 398,018 Page 15 continued...
SOUTHW ARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31ST MARCH 2025 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after charging/(crediting)'. 2025 2024 Depreciation - owned assets 819 4.376 TRUSTEESI REMUNERATION AND BENEFITS There wcrc nu trustees, remuneration or other benefits for thc year ended 3 1st March 2025 nor for th¢ y¢ar ndcd 315t March 2024. TRUSTEES, EXPENSES There were no trutritcc1, expenses paid for thc yur ended 31st March 2025 nor for the year eT]ded 3 1st March 2024. io. STAFF COSTS 2025 2024 Wa&Fes and salaries Social sccurity Losts Othcr pcnsion costs 244,411 16,1111 1,932 254,941 17,949 2,482 262,461 275,372 The averag¢ monthly nuinbcr of cmployees duringy the year was as follows: 2025 2024 Direct Service8 No employees received cmoluincnts in excess of£60.000, Page 16 continued...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 TANGIBLE FIXED ASSETS Computer equipment COST At I st April 2024 Additions 11,944 447 At 31st March 2025 12.391 DEPRECIATION At I st April 2024 Charge for year 11,219 819 At 3 1st March 2025 12.038 NET BOOK VALUE At 3 1st MarLh 2025 353 At 3 Ist March 2024 725 12. DEBTORS: AMOUNTS FALLING DUE wi'fHIN ONE YEAR 202S 2024 PrLpaLctS 1,263 3.186 13. CREDITORS: AMOUNTS FALLJNG DUE WITHIN ONE YEAR 2025 2024 Tradc crcditur5 SoLial sLcurily and other taxes NaiWe5t OneLord Dcferred incorne Accrued expcn.8cs 302 5,105 1,830 80,055 3,ROO 848 5,592 3,098 72,928 4,400 91,092 86,1166 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total fund5 2024 Total funds Unrcstrlcted rund Restrlcted fund Fixed assels Current assets Current liabilities 353 181 ?17 (91.092) 353 229,241 191,092) 725 243.925 (86,866) 48,024 90.478 48.024 138,502 157,784 Page 17 continued...
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2025 15. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1,4.24 Unrestrleted funds General fijnd 125,179 (34,701) 90,478 Restrleted funds Restricted fund 32.605 15,419 48,024 TOTAL FUNDS 157,784 (19,282) 138,502 Nct movement in funds, included in the abov¢ are as follows., Ineomlng resources Resources expended Movement In funds Unrestrlcted funds General fund 53,941 {88,642) (34,701) Restrlcted funds RL'tr>tl"ILled fund 300,005 (284,586) 15,419 TOTAL FUND&4 353,946 {37.1,22X) {19,2142) Compfdfydtlves for movement in funds Net movement In funds At 31.3.24 At 1.4.23 Unrestrlcted funds GLnLr81 fund 139,657 (14,478) 125,179 Restrlcted fund% Restrictcd fund 27,149 5,456 32,605 TOTAL FUIYDS 166,806 (9,022) 157,784 Page 18 continued..
SOUTHWARK IIUSH PENSIONERS PROJECT IYOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2025 15. MOVEMENT IN FUNDS - continued Comparative net movcment in funds, includcd in the above are a.8 follows.. Incomlng resources Resourees expcnded Movement in funds Unrestrlcted funds Gcncral fund 60,942 (75,420) {14,478) Restricted funds Reslricl¢d nd 328.054 (322,598) 5,456 TOTAL FUNDS 388,996 1398,0181 (9.022) 16. RELATED PARTY DISCLOSURFS Thcr¢ w¢r¢ no related party transactions for th¢ year ¢nded 31 sl March 2025. 17. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net ¢xpendlture for the reporllng period (as per the Statement of rinanclal 8Ctlvitles) Adjustments for: Depr¢¢i(Ition chaLgFes Inlertyit received rjecrease in debtor8 Increasc in creditors (19,282) (9,022) 819 (1,329) 4,376 (1,277) 9.840 2.115 4.226 Net cash (used in)Iprovlded by operatlons (13,643) 6,032 18. ANALYSIS OF CHAfsGES IN IYET FUNDS At 1.4.24 CAsh flow At 31.3.25 Net cash Cash at bank and in hdnd 240,739 (12,761) 227,978 240,739 (12,761) 227.978 Total 240.739 (12,761) 227,978 Page 19 continued..
SOUTHWARK IRISH PENSIONERS PROJECT NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR EIYDED 31ST MARCH 2025 19. DESIGNATED FUNDS The income ndS of the charity include the following designated fundg which have been set aside out of unrestricted funds by the trustees for specific purposes.. Movem¢nt in Fund Incoming Resources resources expanded Balan¢¢ at I April 2024 Balance at 31 March 2025 Contingency fund Remembr&nc¢ fund 124,179 1,000 53,941 (88,642) 89,478 1,000 125,179 53,941 (88,642) 90,478 Page 20
SOUTHWARK IRISH PENSIONERS PROJECT DET AILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Donatlons and legacies Donations 29,306 29,306 25,440 Other tradlng actlvltles Fundraising cventS 13,574 13.574 14,156 IDvestmeDt income Dcposit account interest 1,329 ,329 1,277 ChArltable aetlvitles ees rcccivcd from activitie5 London Borough of Southwark Dept of Foreign Atlairs and Tradc.. Eimi¥rant Suppoi'l Bencvolcnt So¢i¢ty of St Patrick Mcmb¢r fcLy London Community Pund 5,575 5,575 30,000 15,323 81.500 30.000 168,932 15,QOO 168,932 15.000 4,157 86,073 148,018 15.000 4.746 113.536 4,157 86,073 9,732 300,005 309.737 348,123 Total Incomlng resourees 53,941 300,005 353,946 388,996 FXPENDITURE Charltable Aetivitie$ 244,411 16,118 1,932 244,411 16,118 1,932 544 2,9R4 5,288 559 37,448 2,588 3,664 282 1,982 1108 5,098 733 3,569 13,022 1,642 342,672 254,941 17,949 2,482 546 3,079 4,890 Social security Pensions Rales and water Light and heat Prinling',postage, stationery and tclcphone Recruitment ¢xpensc8 Social aclivilics, clasyes & outings Community team telephone expenscs Building maintenancc, clcaning Coinmunity teain IravLI Éind other expenses Insurancc Equipmint rental IT support & software Bank chai'gc8 Voluntccr expenses Rent & rates DBS, subscription & training Carried forward 544 2,984 5,288 559 32,371 2,338 5,077 250 3,664 282 43,733 1.390 4,600 1,413 1,994 602 5,406 864 ,846 10.354 5,813 361,902 ,982 808 5,098 733 3.569 13.022 1,642 70,938 271,734 This page does not form part of the slatutory financial statements Page21
SOUTHWARK IRISH PENSIONERS PROJECT DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR E]YDED 31ST MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Charltable aetlvltles Brought forward Lcgal and professional fees Payroll & Accountancy fees Independent Examiners Fee Bcnevolent Sociely expcnscs Depreciation of tangible fixed assets 70,938 9,029 4,056 3,800 271,734 342,672 9,029 4,056 3,800 12,852 819 361,902 6,041 4,385 3,800 17,514 4.376 12,852 819 88,642 284,586 373,228 398,018 Tolal resources expended 88,642 284,586 373,228 398,018 Net (expendlture)Iln¢ome (34,701) 15,419 (19,282) (9,022) This page does not form part of the statutory financial statements Page 22
SOUTHW ARK IRISH PENSIONERS PROJECT CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Page Referenee and ¥ddmlnlstratlve details Report of the trustees Independent examiner's reporl Statement of tlnanclal actlvltles Stalement of financlal positlon Statement of eash flows 12 Note$ to the tlnanclal statements 13 to 20 Detalled Statement of flnanclal aetlvltles 21 to 22