## IVY STREET FAMILY CENTRE TRUST
Report and Accounts Year ended 31 December 2020
1 Lamb's Passage, London EC1Y 8AB www.stewardship.org.uk
## **IVY STREET FAMILY CENTRE TRUST**
## **YEAR ENDED 31 DECEMBER 2020**
## **LEGAL & ADMINISTRATIVE DETAILS**
ADDRESS FOR CORRESPONDENCE
168 Crondall Court St John's Estate London, N1 6JN GOVERNING DOCUMENT Declaration of Trust 10 June 2001 as amended 12 September 2007, as amended 6 February 2017, as amended 11th October 2019
CHARITY REGISTRATION NUMBER TRUSTEES RESPONSIBLE FOR MANAGING THE CHARITY
1088854
Andrew Large _(Chair until 28/06/2021)_ Robert Byk Peter Sunderland _Resigned 28/06/2021_ Ron Yee Ritz Steytler _(Chair from 28/06/2021)_ Sarah Hunter Kemi Woods Anya Sizer _Appointed 28/06/2021_ Bethan Mitchell _Appointed 28/06/2021_ Anne-Marie Nye _Appointed 28/06/2021_ BANKERS Bank of Scotland plc The Co-operative Bank CAF Bank INDEPENDENT EXAMINER Lisa Darby Stewardship 1 Lamb's Passage LONDON EC1Y 8AB **INDEX** Page 1 Legal & Administrative Details Pages 2 - 6 Trustees' Report Page 7 Independent Examiner's Report Page 8 Receipts and Payments Account Page 9 Statement of Assets & Liabilities Pages 10-11 Notes to the Accounts
Page 1
## **IVY STREET FAMILY CENTRE TRUST**
## **REPORT OF THE TRUSTEES**
## **YEAR ENDED 31 DECEMBER 2020**
The trustees of Ivy Street Family Centre Trust present their report and financial statements for the period ending 31 December 2020 in accordance with the Charities Act 2006. We are satisfied to the best of our knowledge that the Trustees' Report and financial statements comply with the current statutory requirements, the trust's governing documents and are in accordance with the Charity Commission's Statement of Recommended Practice.
## **Structure, Governance & Management**
Ivy Street Family Centre Trust is a charitable trust currently governed by a Supplemental Trust Deed adopted on 11[th] October 2019. As a charity it acts entirely as a non-profit making organisation. The trustees are appointed by resolution of the Board.
## **Trustees**
The trustees met formally five times during the year and passed one Written Resolution. Trustees received regular financial management reports between meetings. There were no changes to the Board during the year.
## **Internal Controls**
As part of their continuing responsibility the trustees have endeavoured to ensure that reasonable internal control procedures are in place. These include;
- setting and reviewing financial policies and procedures;
- receipt of management reports at each meeting of the trustees, including income and expense, budget and balance sheets;
- setting an annual budget;
- annual review of risk.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Risk Management**
Throughout 2020 the trustees continued to maintain a register of risk and to identify and mitigate major strategic, operational and financial risks to the charity.
In March 2020 the trust took steps (in line with government advice) to help contain the outbreak of COVID19. This included the temporary suspension of all physical gatherings and the charity has had to curtail, or change, how it operates as explained in the Centre Manager’s Report below; the charity has been able to continue some of its activities using online media. The trustees are closely monitoring income and expenditure but the trust in fact saw an increase in unrestricted income during 2020 compared to the previous financial year. The trustees furloughed one member of staff under the Government Coronavirus Job Retention Scheme, initially on a 100% basis but was able to reduce this to 50% by the end of the year.
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## **Charity Activities**
In furtherance of the Charity’s objects we provided the following services during the year:
**a) The Ivy Street Family Centre** – continued, at the start of the year, to provide term-time drop-in sessions for local parents and carers of under-5s at the charity’s temporary premises at The Florence Bennett Centre, Cherbury Street, Hoxton. However these premises were shared with Hackney Foodbank and, due to the exceptional rise in demand for Foodbank’s service as a result of the consequence of the Covid-19 Lockdowns, and their need for more space we voluntarily agreed to vacate our space at the Centre. Hackney Foodbank has generously allowed us to store our surplus equipment at a local self-storage warehouse and agreed to pay for the self-store rent until May 2021. When in-person meetings were permitted we ran drop-in session in a marquee in the St John’s Church Gardens in Hoxton, otherwise our provision was on-line;
b) **The Growbaby service** continued to run from The Florence Bennett Centre, providing free baby clothes and equipment to families in crisis and severe need. When we vacated the Centre we were offered space at minimal rent in The Hoxton Trust building in Hoxton Street and continue to operate Growbaby from there.
In planning the activities of the Charity the Trustees have had regard to the guidance given by the Charity Commission on public benefit.
## **Ivy Street Family Centre**
## **Director of Services Report**
The pandemic has challenged us to work in very different ways this year, but we have continued to fulfil our charitable objects to support young families in and around Hoxton. The staff team have pulled together to provide support to each other, our families and the wider community. Initially online, we continued weekly support groups and gave practical support with craft packs and tech devices to support home learning. Once restrictions were eased, we held in person support groups for as long as we were able, focussing primarily on families who had given birth during 2020.
Growbaby continued to support local vulnerable families and has been a valued source of essential clothing and equipment throughout the restrictions.
We are delighted to report that our building project has not been unduly delayed by any covid restrictions and our new facility is due to be handed to us for the fit out in June 2021. We have started our fundraising campaign and plans for the fit out are taking shape. We hope to open our new facility to the public in early 2022.
In common with many other charities, we have been challenged in ways we could not have imagined prior to the pandemic, but we have remained focussed on our objects and have used creative ways to support young families in Hoxton.
We remain grateful for continued financial, operational and practical support from all our supporters and Trustees.
## **Centre Manager's Report PRE-SCHOOL DROP-IN SESSIONS**
We started 2020, with an aim to fulfill our charity objective to support _“young people, parents and carers and their children in Hoxton”_ , the Ivy Street Family Centre by continuing to provide, during school term-time, and in accordance with our Christian ethos, our ‘Musical Storytelling’, ‘Stay & Messy Play’, and ‘Play All Day’ sessions for pre-school age children. This currently means children under the age of 3 years due to the government provision of nursery places for children aged 2½ years plus.
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At the start of the year, we had 74 families on our registration list.
As the Covid-19 pandemic became more of a concern, it was necessary for us to give up our base at the Florence Bennett Centre, as the demands on Hackney Foodbank became such that it did not feel safe to share a building with them, when they had such high volumes of stock and volunteers coming in and out.
Shortly after this, the country went into lockdown, and we began holding weekly sessions on Zoom to keep in touch with the families. Our Director of Services used her home as a distribution point for toys, books and craft activities for Ivy Street families, and others known to us in the community. We also worked with the Museum of London’s Culture Mile project to distribute 50 activity packs via a local primary school.
As soon as Government guidance allowed, we made arrangements to begin running small, in person support group for people who had given birth during the pandemic. We were able to meet in small groups at St Johns Church, and we held 4 sessions each week, with 18 parents attending regularly for peer support and advice.
When restrictions were eased further, we started our usual programme of Stay & Play and Musical Storytelling sessions too, which were usually at capacity (6 families)
## **GROWBABY**
Our ‘ **GROWBABY’** service, provides high quality second-hand baby clothes and equipment to local families in need, via a network of partner agencies including hospitals, social work teams, women’s refuges, and other charities.
We helped approximately 120 families during 2020.
As we had to leave Florence Bennett Centre, our Centre Manager moved a large amount of donated items to her home, and ran an ad hoc service from there, managing Covid-safe deliveries via partner agencies.
Our stock could not cope with the demand, and we were unable to take in donations, so we applied for and received a grant of £10,000 from the **London Community Response Fund** . This enabled us to purchase items for new-born packs, as well as providing larger items such as cots and prams which were delivered directly to the recipient families.
We were also helped by regular supporters, who bought items via our Amazon wish-list.
While we were not able to hold any Christmas events, we did run a toy appeal, focussing on local organisations that we have close links to. Gifts were purchased online by individuals and also by members of **Croxley Green Baptist Church** and by **Jaguar Building Services** .
We also continued to benefit from a commercial participation agreement with **Jaguar Building Services Ltd** , a property maintenance company in the City and whose CEO mentors our Director of Services.
## **Financial Review**
## **Income & Expenditure**
The net incoming resources for the year were £62,594 (2019: £42,086). Expenditure was £64,750 (2019: £62,032) and was managed according to budget for the year.
During the year the charity once again received a grant from **Sunbabies Nursery Trust** to support our ‘dropin’ and family support services. We also secured a £10,000 grant from the London Community Response Fund (a grant to ameliorate the effects of Covid-19) administered by City Bridge Trust – this grant was specifically to provide toys and equipment to the families accessing our Growbaby service.
Page 4
The charity has the benefit of a commercial participation agreement with Jaguar Building Services Ltd. who invite their clients to make a small addition when paying their invoice which amount is then donated to Ivy Street Family Centre. The total income from this agreement in 2020 amounted to £17,862.00.
## **Operating Reserves**
The trustees aim to hold Cash Operating Reserves in line with average monthly expenses. These reserves are held in an interest-bearing account with quick access times to finance general operations. The trustees aim is to maintain reserves equivalent to three months’ operating expenses. This equates to a cash reserve of approximately £10,000. Due to expenditure relating to the Building redevelopment the trustees were not able to maintain this level of reserves during 2020 but have taken steps to rebuild the level of reserves to the desired amount during the course of 2021.
The trust holds no investments.
## **Grants & Gifts**
The trust did not make any grants during the year.
## **Fixed assets**
All assets held by the trust fall within those permitted by the Trust Deed.
## **Building redevelopment**
The trust has negotiated with a third party for the joint redevelopment of the premises at 54, Ivy Street to create community space on the Ground and Lower Ground Floors for the Trust and a residential apartment for the third party on the upper floors. The charity will retain its freehold interest and grant a long lease on the flat to the third party.
It had been anticipated that the building works would start in November 2018 but the insolvency of the contractor frustrated this. An alternative contractor was found through a further tender process during 2019 and contracts were signed on 14 February 2020. Works on site commenced in early May 2020 with an anticipated build programme lasting 15 months. It is currently anticipated that the redevelopment will have reached the stage of ‘wind and watertight’ by mid-Aug 2021 when each party will commence the fit-out of their respective demise.
The trust has, since 2016 incurred total costs of £73,780 in respect of legal costs and the professional fees of our fit-out architect, structural engineer, M&E and Building Regulations consultants. Expenses totalling £22,744 were incurred during 2020.
The trustees have obtained a certificate from a Chartered Surveyor, as required under the Charities Act, to confirm that the terms of the agreement with the third party for the redevelopment project are in the best interests of the charity.
Page 5
By way of security the full amount of the construction costs to wind and watertight, in the sum of £1,468,592.71 (as agreed with the original contractor) was deposited by the third party in an escrow account controlled by the charity and the third party. In view of the increased build cost under the new contract a further sum of £291,883 was lodged in the account by the third party in February 2020. The account is held with Bank of Scotland under the name of the charity, although the monies remain the property of the third party. Accordingly, this balance is not shown in the accounts as an asset of the charity. As payments to the contractor are certified by the Contract Administrator these are released from the escrow account, payments to design professionals are also made from this account. As at 31[st] December 2020 the amount held in escrow was £1,281,382.
## **Independent Examination**
Stewardship have been appointed to act as the trust’s independent examiners. So far as the Trustees are aware, there is no relevant information of which the trust's examiners are unaware and the Trustees have taken all the steps necessary in order to make themselves aware of any relevant audit information and to ensure that the examiners are aware of that information.
Approved by the trustees on 19 August 2021 and signed on their behalf by
Andrew Large
## **Trustee**
Page 6
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **IVY STREET FAMILY CENTRE TRUST**
I report to the trustees on my examination of the accounts of Ivy Street Family centre Trust for the year ended 31 December 2020 on pages 8 to 11 following.
## **Responsibilities and basis of report**
As the trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the 2011 Act’).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
2. the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Lisa Darby
For and on behalf of: Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 6 September 2021
Page 7
## **IVY STREET FAMILY CENTRE TRUST**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **YEAR ENDED 31 DECEMBER 2020**
|Notes
**Receipts**
Donations, legacies and grants
Gift aid receipts
Income from charitable activities
Interest Received
Other
**_Total receipts_**
**Payments**
2
**_Total payments_**
Transfers between funds
5
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**
Net
of
receipts
/
(payments)
before
transfers
Payments
in
relation
to
charitable
activities undertaken directly|Unrestricted
General
Fund
£
43,526
1,580
360
10
165
45,641
35,141
35,141
10,500
( 22,933)
( 12,433)
19,568
7,135|Designated
Funds
£
-
-
-
-
-
-
22,933
22,933
( 22,933)
22,933
-
-
-|Restricted
Funds
£
16,953
-
-
-
-
16,953
6,676
6,676
10,277
-
10,277
1,440
11,717|2020
£
60,479
1,580
360
10
165
62,594
64,750
64,750
( 2,156)
-
( 2,156)
21,008
18,852|2019
£
39,067
2,223
609
38
150
42,086
62,032
62,032
( 19,946)
-
( 19,946)
40,954
21,008|
|---|---|---|---|---|---|
The notes on pages 10 - 11 form part of these accounts.
Page 8
## **IVY STREET FAMILY CENTRE TRUST**
## **STATEMENT OF ASSETS AND LIABILITIES**
## **YEAR ENDED 31 DECEMBER 2020**
|**A**
**Cash funds**
Cash at bank with immediate access
Petty cash
**B**
**Other monetary assets**
Gift aid due to charity
Other debtors
**C**
**Liabilities**
Trade creditors
Fee for Independent Examination
Accrued expenses
**D**
**Assets retained for charity's own use**
Freehold Building Market Value 2008
Equipment|General
funds
£
6,930
205
**7,135**
391
1,519
**1,911**
131
810
3,675
**4,616**
Unrestricted|Restricted
funds
£
11,717
-
**11,717**
-
-
**-**
-
-
-
**-**|2020
£
18,647
205
**18,852**
391
1,519
**1,911**
131
810
3,675
**4,616**
Cost
£
3,500
3,500|2019
£
20,862
146
**21,008**
424
1,659
**2,083**
13
780
-
**793**
Current
Market
value
£
362,500
-
362,500|
|---|---|---|---|---|
The accounts were approved by the trustees and signed on their behalf
|by||date||||
|---|---|---|---|---|---|
||Andrew Large||19|August|2021|
The notes on pages 10 - 11 form part of these accounts.
Page 9
## **IVY STREET FAMILY CENTRE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2020**
## **1 Accounting policies**
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. Accounting standards are not (and cannot) be used in the preparation of receipts and payments accounts and so they do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
|General
Designated
funds
funds
£
£
**2**
**Payments in relation to charitable activities undertaken directly**
Employment and staff costs (Note 4)
25,266
-
Ministry costs - subscriptions
321
-
Drop in direct costs
98
-
Growbaby direct cost
-
-
Toy Appeal costs
-
-
Property costs (Note 3)
4,327
-
Building professional fees and development
-
22,747
Support services
4,217
-
Fundraising costs
81
186
Accounts and examination
780
-
Other costs
51
-
35,141
22,933
**3**
**Property costs comprise:**
Rent
2,406
-
Business Rates
1,649
-
Utilities
273
-
Other
-
-
4,327
-
Unrestricted|Restricted
Funds
£
2,212
-
1,630
1,984
-
850
-
-
-
-
-
6,676
600
-
-
250
850|Total
2020
£
27,478
321
1,728
1,984
-
5,177
22,747
4,217
267
780
51
64,750
3,006
1,649
273
250
5,177|Total
2019
£
29,551
488
3,833
559
1,848
11,546
6,943
6,402
-
600
261
62,032
5,500
2,188
3,476
382
11,546|
|---|---|---|---|
Page 10
## **IVY STREET FAMILY CENTRE TRUST**
## **NOTES TO THE ACCOUNTS**
## **YEAR ENDED 31 DECEMBER 2020**
## **4 Employees**
The charity has 3 (2019:3) employees, to whom the employment costs above refer.
Angela Large, spouse of Andrew Large a Trustee, was employed as Director of Services to provide executive oversight for the Ivy Street Family Centre during the year receiving a gross salary of £3,918 (2019: £6,630) **The Trustees have received Charity Commission consent for this arrangement (10th January 2020).**
No other amounts were paid or are payable to any other trustee or to any other person connected to them.
## **5 Movement of Funds**
|**Income & Expenditure**
Unrestricted funds
General fund
Designated Building Fund
Restricted funds
Growbaby
Sunbabies grant
Growbaby LCRF grant|Balance
at 31.12.19
£
19,568
-
19,568
859
581
-
1,440
21,008|Receipts
£
45,641
-
45,641
-
6,953
10,000
16,953
62,594|Payments
£
(35,141)
(22,933)
(58,074)
(850)
(3,842)
(1,984)
(6,676)
(64,750)|Transfers
£
(22,933)
22,933
-
-
-
-
-
-|Balance
at 31.12.20
£
7,135
-
7,135
9
3,692
8,016
11,717
18,852|
|---|---|---|---|---|---|
The General Fund made transfers to the Restricted Funds to cover any additional spend on the funds.
The Building Fund is a designated fund in respect of income and expense related to the redevelopment/fit-out of 54 Ivy Street
The Growbaby fund is restricted to income and expense related to the 'Growbaby' service providing new-born clothing and baby equipment to needy new families.
The Sunbabies grant is restricted to income and expense related the grant received from Sunbabies Trust
The Growbaby LCRF grant is restricted to income and expense related to a Covid19 grant awarded to enable us to provide needed clothing and equipment through our Growbaby service.
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