St Peter's Canary Wharf Trust Report and Accounts Year ended 31 December 2023 •ADCGAX56' 2610912024 COMPANIES HOUSE 250
ST PETER'S CANARY WHARF TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2023 TThstee¥ Mr M Evan8 Ms A Garrow Mr B Gardiner MrsJYHan Mrs R Lewis (resigned 27 November 2023) Mrs T Wilson Mr M Choi (appoinled 3 December 2023) Company Secretary Mr M Evans Key Member of Staff Rev M Nodder Govorning Document Memorandum and Articlès Of Association 22 August 2002 Company Reglslratlon Number 04517392 Charlty Reglstratlon Number 1096848 Prln¢lpal Addr•$$ St Peterfs Barge West India Quay Hertsmere Road London E14 4AL R•glstered Offlc• St Peter's Barge West India Quay Hertsmere Road London E14 4AL Independent Examlner Lisa Darby, FCA Stewardship 1 Lamb's Passage London EC1Y 8AB
Bankers National Westininster Bank plc PO Box 282 216 Bishopsgate London EC2M 4QB CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME19 4JQ Contents Page Company Infonnation Trustees, Annual Report Independent Examiner's Report statement of Financial Activities Balance Sheet Notes to the Accounts 9-16 17 Oetailed SOFA
ST PETER'S CANARY WHARF TRUST TRUSTEES, ANNUAL REPORT (INCORPORATING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees, who are the charty's directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year. Objects of the charlty The charity is a charitable company registered with the Charities Commission- eharty number: 1096848 and is governed by its memorandum and articles of association. The objects of the charity. as set out in the governing document are the advancement of the Christian Faith in London, England and particularly in the Canary Wharf estate within the London Borough of Tower Hamlets. "The Christian Faith" is defined within the Articles of Association as the fundamental truths of Christianity revealed in Scripture, including those confimed by the church's historic catholic creeds and the Thity Nine Articles of Religion of the Church of England. Summary of the charlty'8 rnaln actlvltles To further the above objects and vision. the charity8 main acttvities has been the provision Of a meeting place for a Christian workplace ministry within the Canary Wharf complex in London and a Sunday church for those living in the wider Docklands area. St Petefs Barge is in the first place a Christian centre for the 120,000 working in Canary Wharf. It aims to encourage and equip Christians who work in the Wharf to live out their faith in the workplace, and to provide a relaxed and unpressured environment for those who are not Christian to investigate the claims of Jesus Christ. There are weekly lunchtime Bible talks, bible study groups, and a course for enquirers, as well as opportunities to meet to talk one-ttrone. St Peter's Barge also holds special guest events to enable Christians in Canary Wharf to invite their friends to hear the Christian good news, ask questions and discuss. The location and venue make it especially attractive for those who may be pul off by a more traditional church. In addition to the midweek work there is a Sunday congregation focused on reaching out to friends and the community in this thriving and ever-developing part of London. The Sunday church has a congregation of about 100 adults and 30 children meeting at church seNices on Sunday mornings. and for groups and activities during the week. Income is raised through Ihe Company in order to fund this Wrk. In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission. Structure. Govemance and Management Responsibilty for setting policy and for determining the parameters within which the charty should operate rests with the trustees who monitor the activities of Ihe charity. Responsibility for the day to day operation of the charity has been delegated to a senior management team led by Rev M Nodder. New trustees are recruited and appointed by the existing trustees. by a majority vote.
Safeguarding With regard to the trustee's obligations to safeguard children and vulnerable adults, they confim that they have complied wrth their duties in accordance with the charty's safeguarding policy. Flnanelal revlew During the year income decreased by £58 to £323.561, and expenditure increased by £15,077 to £349,684. As a result total funds for the year decreased by £26,123 to £269,181 and the ¢haritVs net assets decreased to the same figure. Net current assets decreased by £12,591 to £172,694. Reserves pollcy The trustees have determined that the charity should aim to hold unrestricted cash of no less than £84,060 (which equates to about 3 months. of unrestricted expendilure) so that the charity could continue to operate should income and l or expenditure vary adversely. At the year end, the charity held unrestricted cash of £176,902 and the charity is complying with its reserves policy. Key rlsks and uncertalntles The charity is exposed to various risk$ - be they operational, financial or repulational. The trustees review the charitls aclivities to identify signrficant risks and, where possible, they take appropriate measures to mitigate those risks. Responslbllltles of trustees under company law The truslees are responsible for preparing the Irustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitsble company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing Ihe5e finanGial statements, the trustees are required to= 1. select suitable acwunting policies and apply them consistentty- 2. observe the methods and principles in the Charities SORP., 3. make judgements and estimates that are reasonable and prudent., 4. state whether the applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial stalements; and S. prepare the financial statements on a going concern basis unless il is Inappropriate to presume that the charily will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the charrtable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approval This report. which has been prepared in accordance with the provisions of the Companies Act 2006 relating lo small companies, was approved by the trustees and signed on their behalf by: Mèicus Evans IS¢p24, 2Q24 16.,25GMT+ Ji Marcus Evans Dale.. Sep 24, 2024 2024
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST PETER'S CANARY WHARF TrUST I'thè Company'} I report to th• charity trustees on my examlnalion ol the accounts of the Company for the year ended 31 Dec8mber 2023 on pages 7 10 17 lollowlng, which have been prepared on the basi$ of the accounting policies set out on pages 9 to 10. R•8pon8lbllltlo$ and basls ol r•port As the charity's Irusle88 of Ihe Company land also ils directors for thé purposes of ¢ompany14wl you are responsible lor the preparation of the ac¢ounts in accordanrA with the requirements of the Companies A¢1 2006 {'Ihe 2006 Acl'l. Havin9 satisfd mysell that the accounts ol Ihe Company Ore not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respecl ol my examination of your charity's gccounls as cariied out under section 14S of tho Charities A¢1 2011 I'lhe 2011 Ad'l, In carrying out my examination I have followed the Dire¢tign$ giv•n by tho Charity Comml$sion und•r s•clion 14515) Ib) of the 2011 Act. Independent •xamln•r'8 stst•m•nt Slnca thè Company's gross income exceeded £250.000 your examiner musl be a MeMr of • body 1181gd in ¥edion 145 of the 2011 Act. I confiim that l am qualified lo und¢rt8ke Ihe •x•minolion because I am a member of The Inslilule of Chartered Accountants in England and Wales, which is ono of the lisled bodies. I have ¢ompleted my examination. I confimi that no matters havè c¥>me to my attention in connection with the examination giving me cause lo believe.. 1. accounling records were not kept In respe¢t of the Comp•ny •s rnquir•d by section 386 of the 2006 Act., or 2. the accounts do not accord 1th those records,. or 3. the accounts do not comply wilh the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fai¢ view whi¢h 18 not • maller considered a8 part of An independent examination," or 4. the accounts hav6 not been prepared in accordance with lh• methods and prlnciples ol the Slalement of Recommended Pra¢11 for accounting and reporting by charities applicable lo ¢harilies preparing their accounts in accordance with the Financial Reporting Standard applieable in the UK and Republic of Iland (FRS 102). I have no concerns and have ¢ome aCfQS8 no other matters in connection with the examination lo whi¢h attention should be drawn in this report in order lo enable 8 prop•r understandlng of tho accounts lo bè rea¢hed. &hTrD•ibvlSep?o 2 Lisa Oarby. FCA The Instltutè of Chartered Accountants in Engl8nd and Wales Stewardship 1 Lamb's Passage London EC1Y 8AB Date. Sep 24, 2024
ST PETER'S CANARY WHARF TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENOITURE ACCOUNT FOR THE YEAR ENDEO 31 DECEMBER 2023 Total Funds 2023 Total Funds 2022 Unrestricted Funds Restricted Funds Note INCOME AND ENDOWMENTS FROM: Donations and legacles Charitable acivitl•8 Investments 309,430 11,959 2,172 309.430 11.959 2,172 309,740 13,498 380 Totsl income and endowments 323,561 323.561 323.618 EXPENDITURE ON: ChafllAblw activi110g 349,684 349,684 334,607 Total gxpendStur¢ 349,684 349,684 334,607 N•t Incom•ll•xpendlturnl 126,1231 126,1231 110,989} Transfvrs b•tween funds 13 {26,1231 126,1231 110,989) Othtsr r•cognl¥•d galn•llloi••sl.' Gainsl{lossesl on revaluation of fed assets N•t mov•m•nt In lund8 {26.1231 126,1231 (10,989) R•¢on¢lll•tlon ol funds: Total funds bfought foThYard 293.770 1.534 295,304 306,293 Total fundj crrl•d fomard 13 267 647 269 181 Roundln9 Drflerences of £1 may appear in these o¢¢ounts Th• $tslem¢nl oi fin¥nGiJl •ctivlli•s Includes all gaini and108s08 Mcogni8ed in the ye•r. All Sncome and expèndilure derlv8 from continulng gp•rations. The statement oi financial aclivlties also complles with the requir•mènts for an inmme and expenditure account required by the Companie¥ AGt 2006. The notes on pages 9-17 fom) part of these accounts.
ST PETER'S CANAR Y VIHARF TRUST BALANCE SHEET AS AT 31 DECEME4ER 2023 Total Funds 2023 Tolal Fd$ 2022 LInrestred FtsAds Reslricted Funds FIXED ASSETS T•ryible 886•1• 379.679 37•.679 40S,694 379 679 379 679 CURRENT ASSÈTS 371 20.122 176,902 371 20.122 178.436 360 21,686 181.616 D¢blorn C•sh #i hnk and In h•nd 10 1.534 197,314 1.634 198,92 210,•91 CREDITORS: Amounts f•lllnq duo ¥thhln on• y••r 126,235) 126,236 125.4WI Il•t curr•nt •$8•ts 1 Ill•blllY••l 172 694 18$ 28S 550,839 1,634 552,37J 590,979 ¢REDITORS'. Amounts iilllng du• 4ft•r mor• th4n on• y•4r 12 1283,19)) 1203,1931 {295.6741 TOTAL NET ASSETS 295 305 FVND BALANCE3 Unr•ilricte4 Fund• General lundi Oeileth&lèd lund• 13 287,847 287,847 293.771 287,647 267,847 293.771 R•slttt•d Fund• 1,S34 1,534 1.534 289 181 29$ 30S ROIng 0lfl•rw• 01 £1 m•y •pp•Ai In th•w #¢U$ Th• charttlble mPanY 15 enlrfod to exernpdon Irtyn undar Sadon 477 ofthe Comp8nies Ad 2006 forth• 1 •nd•d 31 OK¢mr 2023. Th• m•mb•rs h•v• not r•qulre4 Ihe Mpor$Y to obtain qn audll of flMno•l Stslem•nl8 for Ihe y••r •nd•d 31 Dee8mb•r 2023 in •¢¢orf•n¢• wlth S•¢tbTh 476 01 th• Cmpanl•i Act 2QO8 hfw•v•r, In •rKord•rK• with S•don 145 01 th• Ch•dWes A¢1 )1. Iht •¢£ovnt• h•¥• b••n •x•mln•d by In Indfrwnd•nt •x4fflin•r and th•lr r•porl •n Indud•d IA th•M fin•n¢l&l itl•m•fil•. Th8 11clO (who are lh2 ch8ritsble companls bw$loes fvr the purpo8e8 ol ¢Jwnty lawl ackntrledge thr responsibilities for lal en$urin9 that the chanlat40 company ke¢p$ •¢¢¢untng f¢ord$ whi¢h Mrnptywith Svdions 386 4nd 307 of Ihg Compèni•$ A 2006 and Ibl pr•yrtng finincl•l itot•m•nto %¥hlch gfv• • tm• •nd lalr ¥tew ol th• ol •ffo1rn of th• ¢hirfl•Ne company > 41 the •nd ol ••¢h fiMnthl y••f •nd of Iti nel income or exp•ndiiurn lor ••ch nnondal y1 in att•tdne• wlh th• r•quir•m•nl¥ ol S•¢thon• J94 •nd 395 and whlch otheThwie comFtywllh thé ol Ihè ¢omp•nw 2006 r•loln9 tofin•nca•l il1lement¥. sof•r ai app1¢c88 lo Ihe ch•riiabie e¥Jmpaoy. The fingncial 8lat8ments ha¥8 been prepared in •crorf•rt¢e wih the pr¥¥w15 01 Part 15 ofthe compan Aci 2006 relating lo Sm1 eompanfj8s. Th• fin4n¢lal slat•monts 4pproved by the ol Dlrectors and Vre on it• hh•ll by.. MBfeus Evans O•t•'. Sep 24, 2024 Company number. 04517392 Charity nurnr. 1096848 The rote$ on page5 9-171or¥n partof these acc4unts.
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Statutory Inform•tlon The chanty is a charilable company limited by guarantee and 18 ineorporaled in the Unlled Kingdom. The company's regislered number and registered offiee address can be found on the Company Infornialion p•ge. 2 A¢¢ountlng Pollcl•s These financial statements arè PrePad on a going conekrn ba8is. under the hislorical cost convenlion These financial sl&lement$ have been prepared In •ccordanc• lIh the "Slalement of Recommended Practic4'. Accounlin9 and Reporting by Chafilie¥ preparing Iheir accounts In accordance valh the Financial Reporling Standard applicable in Ihe UK and Republic ol Ireland {FRS 1021 (Ihe Charities SORP"). with the Financial Reporting Standard applicable in Ihe Uniled Kingdom nd Republic of Ireland I'FRS 102,1, %%ith the Companies Act 2006 and *ith Ihe Charities Act 2011. The tharity meets the definition ol a public benefil entity a$ sel out in FRS 102. The principles adopted in the Ppar¥110n of lh¢ fin•nci•l $lalemenls are sel out below. The Irus1oe$ l¥%tho are Ihe charllable ¢ompanV8 dlrectors for the purposes of ¢ompony18wl h•ve 888•ssed %thelh•r tho use of the going concem basis is appfopriale and have conwdered po8&ble evenl8 or condilions Ihal might ca61 significant doubl on the ability of the charity to continue as a going concern. The Iruslees have made this 0sse¥smenl for a period ol al least one year from the dale of approval ol Ihe financial slalemenls. In pèrticular the Iruslee$ have considered Ihe charity's loreca51¥ Ind projections ond Ihe possible impliulions should projected income and l or expendilure vbry unexpectedly. The Ifuslees hove concled Ihal Ih•f• is a reasonable expeclallon Ihal the charity has 8dequate reggurces to conlinu• lo operale for the fore$e¢oble lulure. Tho tharity Iherefor¢ conlinues lo adopl the going concem basis In preparing rts financial slalemenls. bl JDGom2 Income Including Invèilmenl Inrne Is reco9n18ed In the pe{MI In %thl¢h Ihe charity becom•$ enlilled lo receyl. Ihe amounl receivable Can be mea8Ufed vAlh reasonable cerlainty, and reIpt is probable. For the mosl part. income is generally recognised Yknen il is received. Incomt is onty deferred vthen the charity hos lo fulfil condiliong beforé becomin9 enlilled lo il or the donor has spetified that Ihe income is lo be expended in ¥ future period. Income from donallons indude8'. i) ReVerable gift aid, Y•hich18 recognised vh)en Ihe rellled donalion is received. Gtft ald Ihat has not been recovered by Ihe balance sheèt dale is included as a debtor. Thè th•fity relie8 Im volunteers lo ¢•ry out many 01116 gctiville8. HOver, in •eeordance wilh Ihe SORP, Ihe vglue of Ihese seryices has not been Included in Ihese financial slalemenls as they connol bts reliabty measured. Income from charilable adivilies represents income receivable from goods, services and facilrfies 8upplt•d in lurtherence of th• charity6 charitable objects. 11 indudes ineoma from church relreJls and other aclivilie$. Inveslmenl income represents income generated by the tharity's assets and indudes income from bank Interest. Exptndilure, including irrecoverable VAT. is recogni5ed vthén il is Incurrod or, Sf e•rti•r, vthen & legal or ¢onslrudiv8 obltgallon for a paymenl arises provided ihal rt Is probable that settlement will be fequired and Ihe omounl ol the oblig81ion Can be measured reliabty. Th• ch•rity makes grants to other instilulion$ •nd Indivlduals lo lurlher its Charitab objectives. Gr•nl8 p•y•ble •r• recognised as con81nJctive oblig81ions arise. %thich is generally vthen the Charity expresses a commitmenl lo Ihe redplenl Ih•l can be measured reliably and then onty to the extenl Ihat any conditions assouèled 1th the grant Ire outside ol the conlrol of the charity. Govemane• cosls, vthith are included in •xpendlture on charitable adivllles bul are idenlified separalety in Ihe notes lo Ihe a¢VAl$, Inle8 costs ossocialed th the independenl examination ol Ihe finanual slal•menls. complianrE with Consti110Th81 and slalulory requirements and any other expenditure incurred on the slr8le9lc management of the charity.
General funds are unrestricted funds vA)ith a available for use at Ihe dimlion ol Ihe trustees in furtherance ol the general objeclives ol the eharity. Designated funds comprise unrestricled funds that have been sel asidè by the Irustees for parliejjlar purposes. Restricted funds are donalions Ykni¢h are lo be used in accordance wth specific reslridions imposed by donors. they indude donations received from appeals for specific activities or projects. Ilems purchased or donated for the chanty's ovm use are capilalised when the cost ol purcha$ed items. or Iht lair value of donated items, is more than £500 and Ihe ilem is expected lo benefit the charity over more than one accounting period. Depreaation is charged on a slrai9hl line ba515 so as lo te down Ihe value of each asset lo ils estimated residual value lif any) over its expecled useful economic life. To athieve Ihis objeclive the following rates of depreciation are charged-. Barge Flal Barge inc. refurbishment 60 years 20 years Fixiures, fillings ond oquipm•nl S years ed as5els Leases which do not Iransler ¥ubslanlially all the risks and rewards ol ovmer5hip lo Ihe charity awe dassified as operating leases. Operating lease payments are recognised 05 an expense on a 5traight-line basis over the lease term lunless anolher Sy8lemali¢ basis is more represenlalive of usel. rr The charity operates defined conlribulion nSIOn 5¢heme$ for 11$ employeè8. Obligallon8 for conlribulions lo these scheme$ Ore recogni$ed bs an expense when the liabilty arlses. The #ssèlg of these 8chème8 are hèld &eparalety from Ihoae ol the charity in independenlly •dminlslored funds. The comp•ny is a regi8lered charity., il h•s taken advantage ol Ihe variou8 reliels from laxallon available lo charities and no lax is payable tsn the charity's income. The charity has laken advanlage of an exemplion conleNed by Ihe Charllies SORP and has not prepared a cash flow AtAt*m•nt The 8nnual depreciation charge lor property, planl and equlpmenl18 sen8lllve lo changes In the eslimal•8 lor us•ful economic life ènd r•$idual value. These eslimales aro rea8se88ed annualty and. vA)en ne¢e8$0ry, •dju8led lo rellect currenl CirM31¥et$. The charity's financial 8ssetS and financial liabilrfi'es all qualify as basic financial inslruments. as dèfmed by FRS102. Exeepl for loans, clI0r5 and deblor6 ore measured at Iheif expeded settlemenl value Inofmally the amounl of eash that Ihe charity expec1$ lo pay or receive). The chjrity legnIseS Ilabilities for Ihe principal of those loons Ihat remains I1$11nding al th• year end li.e. Ihe liabililie5 exclude ony inlere$l thargeable on Ihe194n$ in fulure yearsl. Donatlon• 2023 2022 Donallons of cash and similar Income lax recoverable Donalions for purchase of Ihe Barge property 259,884 49,546 259.114 50.626 309 740 io
4 Incom from ¢harltabl• #¢tivitt•S 2023 2022 Church retreats and events Book salès 11.354 605 13.029 470 S In¥••tment In¢om• 2023 2022 Bank interest 2,172 380 380 6 Ch•rltsbl• •xp•ndltur• 2023 2022 Costs Sncurr•d dlrgctly on •p•¢lfl¢ •¢tl¥lll Slaff cos1$ Grants pay•ble Inole 6cl Sl Pelerfs Barge activille8 Barge costs Property Purchase Co$ls Interest on propety purcha Property Svrvice Charge 203,887 31,669 15,851 20.394 196,687 28.743 14.81 S 24.878 438 7.915 9,155 2,183 283,119 273.475 b Co$t• Inturr•d on •upport & dmlnhtrtlon Govèrnance cost8 - aCCOLlnts and examinalion Insurance Rent- exlemal premise¥ Sl Pelels Barge office Sl PeleI8 Barge mini61ry 811 Equipmenl mainlenanr Bank ¢hèr9è8 Oepreualion 2,451 11,333 8.014 6,106 5.372 6.615 659 26.014 66,565 2.356 11,044 6,090 5,596 4,618 5.014 400 26.014 61,132 Total •xp•ndltur• 334 607 The fee payable lo the Independenl examiner for examlning the 2023 •¢counts is £1,850 plus VAT 12022.. £1.7SO plus VAT) Analy8is of 8laff co$l$. th¢ ¢081 of key m•n•g•m•nl p•rsonn•l Jnd Iru$lfje remuner¥llon and •xpen6e8 2023 2022 Gross wages and salaries Payment$ lo DI0$t ol London Soclal sentY Pension LxJs15 51.729 80.300 50,312 80,450 10.720 60.270 203.867 9,155 213.022 5,562 60,363 196,687 7,915 204,601 Olher gmploymenl bengfits Sub-lol•l Inlefesl on staff housSn9 propety loans Total The average monthty number Of èmployees during the year was 412022.. 4}. Most of the canlV8 aclivilies arn caffied out by volunleers. No staff received salaries at a rale of more than £60.000 per annum li
Ch•tabl• •xp•ndltur• {¢ontlnu•dl TrJ of the employee$ a paid Ihrou9h Ihe London Diocese manage the lax paymenls lo HMRC. One of these Is a key staff member, ¥tho received tot81 ernployment benefits as follov•J-. 2023 2022 Wages and salaries Ipald by the Diocese of London) Customary accommodalion Life insurance 29,222 31,200 762 28.188 31,200 762 Pension (paid by the DiocEse of London) Employer NIC (paid by the Dioce8e of London) 7,127 10.000 2,142 No INslees recived employment benefrts in ellher the CLKfenl or precedin9 year Grants payabl• InslSlulSon8 IndivlduJl8 2023 Grants lor UK ond overseas mls8Son Grants lor the reliel ol poverty 31,669 31,669 The comparallves for Ihe prevlous year are 4$ followg: In8111ulSons Indlvldual• 2022 Grants lor UK and overseas mi$8lon Grants for Ihe rèlief of povety 28,743 28,743 Th• charlty'6 prlnclpal pr•nl$ to In81Slulloni comprt8ed'. 2023 2022 Crosslink$ Cross Tea¢h Trust Oagenham Gospel Trust Faith in Kids London Clly Ml8sion This 1$ GrowTH Ltd The Kendry TTu$l Christ Church sot0 London Gospel Partnershlp Anglitan Mission in England Grants lo inslitulion8 for less Ih•n £1.000 •8ch 5,4SO 2,500 6,000 7,200 2,000 4,000 1,500 1,062 2.606 5.000 4,923 354 3,464 6,250 7.301 100 250 450 12
7 Tanglbl• flx•d assèts Barge & Refurbishment Staff House Equipment Total 2023 Cost Al 1 January 2023 Additions Gains l (Ios8e8) on revaluallon Disposals Policy change Impèct At 31 December 2023 388,388 385.000 1.023 774.411 388,388 38S.000 1,023 774.411 A¢eumulaled deprecl•lion Al 1 January 2023 Charge for Ihe year Eliminaled on dispo1 Policy change Impa Al 31 Dernbel 2023 360,519 19.419 7.994 6,390 205 205 368,718 28.014 379,939 14,383 410 394,732 Nel book va Al 31 Decmber 2023 370617 613 379 679 Al 31 0*be1 2022 819 In September 2021 Ihe Trustees purchased 8 property on behall ol Si Pelerf$ Conary Wharf Trusl for £385.000 lor the purpose ol providing accommodation for a Staff member. The property w45 purtho$ed Ihrough h h•ld by Sl Pelerf81£57k>, donallons (£SOk Indudlng glft •id), • fix•d rale and equity loan wlh Mission Housing Ilolal £178KI and a tefm lo•n facility agreement vllh Reliance 8ank1£100KI. 1 8ook Stall Stock 2023 2022 Books purthased lor rS91e, al cost 371 371 360 360 9 Debtors 2023 2022 TIX T¢cover•bl• Renl deposits Oiher debtors Prepayments and a¢cNed in¢om¢ 4,194 5,100 1,293 9,534 20,122 12,669 5,100 4,275 6,642 28,686 10 Cash ot Bank and In Hand 2023 2022 Cash al bank N%llh Immedlale Pelty cash 178,280 156 181,349 297 11 Cr•dStor•: Ibabllltl•8 l•lllng du• wlthln on• y•ar 2023 2022 Taxalion and swial sgcurity Accru418 Delelred income Loans 3,065 9,050 1,679 11,612 25.406 14,976 11,258 26,235 13
12 CrtditoYs.' amounts f•lllng du• aft•r morn than on• y••r 2023 2022 Loan - Greai Si Helen's Trusl Fixed rale and equity loans- Mission Housing Term loan faulty agreement- Reliance Bank 11,763 178,000 93,430 283 193 21.763 178,000 9S,911 295 674 No interest 1$ payable on the Gr•at Si Helen¥ Tru81 loan and Ihere Is no repaymenl dale •el. The amount V+ill be repaid if, and onty il the Iwslees are of the view. Ihal Ire are 8uffiaenl rerVeS to meet Iho other obli9alions of Ihe Trust and lo effectively lulfil Ihe obje¢tive$ of the Trust. The 8orue has 2 108ns with Mission Housing vthich Mere dra¥ down on 301h September 202110 ¢onlribule lo the purchase ol Ihe Borge nal.. Loan 1,. £90,000 equity loan, 1% annual charge. Loan 2.. £88,000 fixed rale loan, of %thich £5,000, £18,000, •nd £50,000 inwr monthly Inl•resl expen8•8 •1 nnual inlere$t fales of 1.0%, 2.5%, and 2.04h respedivety. The resl is inieresl.free. Inleresl and Charges only 8ie being paid on the loans., the loan prlncipab5 have variou$ repaymenl dal¢$. but the majority falls due for rePaent in June 2026 for equity loans and February 2028 %•then the loans will need lo be re•financed. Both loans wilh Misslon Hou8ing 8re 8e¢ured by a s•¢ond ranklng legal char9e a9lnsl the propei1y {V4llh Ihe fir61 ranklng legal charg• h•ld by Relian Bankl. The secured lerm loan facility wlh Reliancè Bank 01 £100,000 was drafft down on 291h September 202110 conlribule lo Ihe purchase of Ih? Barge flal. The loan is secured by a fiTsl ranking legal charge against the pTop•ty. The facility hos ¥ final rep8ymenl dale of 30th September 2026 and an annual interest rale of 3% above Ihe base rate, The loan is being repaid In monlhly inslalmenl8, with the capital bein9 •rnOrtised over • 25 ye•r schedule. Al the balance sheet dalt Ihe inleTe61 rale was 8.25%. 13 Funds During Ihe year Ihe movemen18 in the charity's funds as follows.. Openlng balance 2023 Incoming re8ourc*8 Oulgoing re80urce8 Tr8nsfef3 In year 2023 Galn8 and 1086e$ 2023 Closing bal8nc• 2023 2023 2023 Designat•d Funds Charity Appeal G•n•r•l Unr•stry¢t•d Funds 293,770 323,561 {349.6841 267.647 Totsl Unreslrided Funds 293,770 323,S61 {349,684) 267.647 R•sln¢t•d Funds Barge mu8ic equipment Chrislmas food ba95 Winler Energy Support 1,200 334 1.200 334 1,534 1,534 Aggregale of lund& 295.304 323,561 1349,6841 209,181 14
13 Fund$ {¢ontlnu•dl AnatyGl$ ol n•t ass•ts by fund The assets and liabilities of the various lund$ Te as followJ: General funds Reslricted lunds 2023 Tangible rd assels Slock Debtors Cash al bank and in hand Credilors 1811ing due tlft one year Creditors falling due after one year 379.678 371 20.122 176.902 26,2351 1263.1931 379.679 371 20.122 178,436 126,2351 1283.1931 1.534 267.647 1,534 269,181 In Ihe pViOuS year the movemenls in Ihe tharity's funds 4$ follows: Openlng Incomlng balanct r•sourc•s 2022 0goIng resources Transler$ In the year 2022 Gains and losses 2022 Closing balan 2022 2022 2022 Doslgnèl8d Funds Chanty Appeal IUkr•lne JrKI Gro%h} 980 19801 980 Genernl UnrestrKled Funds 304,759 319,997 1330,9861 293,770 Tolbl Unr•slrict•d Fund• 304,759 320,977 331,966 293,770 Restricted Funds Barye mu%c equipment Chr581ma6 food ba98 Purch9$? of B8f9e Fl•1 1,200 334 1,200 334 2.641 12.6411 Aggregale ol funds 323618 Analy•l• ol n•t ••8•ts by lund The assets and liabilities of Ihe various fur$ as follows.. Gernr•l funds Restricled fvnds 2022 Tangible fixed as5els Slock Oeblors Cash al bank and In hand Credilors falling due wlhin one year Credilors falling due after one year 405.694 360 28.686 180.112 125,4061 (295.674) 405,694 360 28,686 181,646 12S.406) 1295.674) 1,534 293 771 295 305 15
14 Commltmènts The charlty h¥8 an operating lease for its pholocopier and a ffive y•ar mooring lease from October 2018 to September 2023 Vith Canal River Tnjst. A renewal ol the moorirvJ lease is bein9 negolialed. Non4•ncoll•blo op•r•¢ing 1oase$ 2023 2022 Photocopier lease Mooring lease 1,722 18,700 1,499 20,400 21899 During the year the tharity was char9ed £1,722 (2022.. £1,499) for ils operating lease. The annual commilmenl is in respecl ol 8 five year mooring lease from October 2018 to September 2023 with Canal River Tnjsl. A renewal of the mooring lease is bein9 negollaled. Sl P•t•rf$ Bargo a¢¢ommodatlon 2023 2022 Accommodallon for lh• Minlslers of Sl Pele¢s Borg• 46,800 46,800 The annual commitment is in respect of.. lil a one ye8r lease wlh a private landlord which commenced in October 2016. and 15 renewed annualty in Oclober., lil) a one year lease with a private landlord vthi¢h Commenced in July 2021 and has been renewed up lo 31 May 2024. LoTr• and fln*n¢• l••••• The 14bllrtie¥ for loans, referred lo in note8 11 & 12 f?11 due lor r•paymenl as followx.. 01heiSe Ihan by By Inslalmen18 In8lalmenl¥ Loans 2023 2022 Rep•yabl•: Within one year Betwe•n one And five years After flve year$ 10.000 189,763 1.258 93,430 11.258 283,193 11,812 295,674 199 763 294 451 307 286 15 Tf•n••¢tlon• wlth Ml•t•d pirtl•• Ouring Ihe year Ihe charity: a) Recelvetl donations lolalling £28,833 (2022.. £31,050) from related parties {vthi¢h indudes Iw$lees, any olher members of key management and anyone dosety connected lo Ihem). Note 6b'An8ly$l$ of sl•ff costs, dlsdose$ Ihe salarles and employment benefits lor k•y memb•r8 of s18ff. Thare h•v• been no Other Ir4n8actions wilh related poriies during Ihe yaar. 1fj Events sin¢e th• year end The Barge entered dry docking In August 2024, an evenl wthich occurs ev•ry four years or 50, lor routine mainlenance. Full eosls of dry docking and relaled mainlenance had nol yel been finalised at the dale of compleling the 2023 accounts bul are eslimaled lo be approximalely £30,000. 17 M•mb•rs Eaeh member of the company commils to conlfibute rf Ihe tharity is wound up an amount ol £1. 16
8T PITER7 CANARYWHARP TrUST DETAJLED 8TATEMEfiTOF FINAIICIALAcnvme$wiTH ComPTIVES FOR THE VE•Ji ENDED 31 OECEMOER 2023 lridl 2023 Toi81 2023 Gqnvril l012 D•WsA•i•d 2022 •iirkt•d 2022 YolDI 2022 zoz 202J N•t• INCOME AND EIIDOVIMEMTS FROM.. Oon•tloni affld ChAfttAWg itm•ni• 309,430 11,959 2.172 309,430 306.760 10.857 309,740 13,498 380 2,141 2,172 Totsl Incorn• •thdty¥Tr•lll• 3Z3,501 323,511 319.197 940 2,841 323.811 expeNDITURI OII.. Ch•th•W •clvlllM'. 319,684 2,141 )34,e07 T•tsi exyndllUF• 319,604 2,141 334.e07 {tO.98 110,919} Tr•n•fw• b•iY•n 12B,1231 110.9891 110,909} itsi m•v•m•nt In fvndl 128,1231 110.wi A•ConellI1• of l¥nd•'. Tot•1 rJ1 forrd 2B3,770 1.534 295.3 304.759 1,534 308,293 287.647 1,534 269.161 293,770 1,634 289.304