Registered number 4588983 Registered charity number 1098162
Central Eltham Youth Project
( A company limited by guarantee)
Report and Accounts
31 March 2022
Central Eltham Youth Project Report and accounts Contents
| Page | |
|---|---|
| Company information | 1 |
| Management Committee report | 2 |
| Independent Examiner's report | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Cash Flow Statement | 8 |
| Notes to the accounts | 9 |
| Movement in funds | 14 |
Central Eltham Youth Project Company Information
Registered Office and operational address
Central Eltham Youth Project 4-8 Pound Place Eltham London SE9 5DN
Registered Charity Number
1098162
Company number
4588983 Company registered by guarantee in England and Wales
Management Committee/Trustees
Mr David Norman (Chair) Mrs Judy Smith MBE (Treasurer and Secretary) Mrs Veronica Gale Mr Hugh Lewis
Independent examiners
Michael Adamson and Co 21 The Drive Hullbridge Essex Ss5 6LZ
Bankers
Barclays Bank plc PO Box 279 41 Woolwich New Road London SE18 6NV
1
Central Eltham Youth Project Registered number: 4588983 Management Committee Report
The Management Committee present its annual report and the financial statements for the year ended 31 March 2022.
Structure, Governance and management
Central Eltham Youth Project is a charitable company limited by guarantee, incorporated on 13 November 2002 and registered as a charity on 23 June 2003. It is governed by its Memorandum and Articles of Association. In the event of the company being wound up, the members of the charitable company guarantee to contribute an amount not exceeding £10 to the assets of the charitable company. The total number of such guarantees at 31 March 2022 was 4
Trustees are recruited through a combination of nomination, invitation and open application. They are selected based on their knowledge, transferrable skills and experience. Prospective candidates are invited to submit a curriculum vitae. This is considered by Trustees at the next scheduled meeting. Suitable candidates then visit the project, meet existing Trustees and observe a meeting.
Initial appointment is made by the Trustees, followed by annual re-election at the Annual General Meeting. New trustees are given a thorough induction into all aspects of the Project. The Trustees continue to work to identify the major risks to which the charity is exposed, particularly staff, financial control and funding implications.
Management Committee/Trustees
These are listed on page 1
Risk Management
The Trustees continue to work to identify the major risks to which the charity is exposed, particularly staff, financial control and funding implications. The level of risk will be evaluated and controls (existing and new) identified to manage those risks.
Objectives and Activities
The charity is established primarily but not exclusively for residents and communities in south east London without distinction of sex, sexual orientation, race, or of political, religious or other opinions to:
a) promote any charitable purpose that will benefit the community, in particular those who have need of support by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances
b) relieve poverty, homelessness or adverse housing conditions c) promote the preservation and protection of good physical and mental health
d) advance education and training, and the re-training of unemployed people
2
e) provide facilities for recreation and other leisure-time occupation f) develop the capacity and skills of local people so that they are better able to identify and meet their needs and participate more fully in society including through volunteering and social action
When undertaking all its activities, the Management Committee has regard to the guidance issued by the Charity Commission on public benefit.
Achievements and Performance
During the year, we helped and supported 2,235 different beneficiaries who made a total of 24.024 individual contacts. This increase in users can be explained primarily by a 62% year on year increase in people visiting our foodbank
We managed to re-instate face to face delivery across all of our existing services, after the interruptions caused by tre Covid 19 pandemic.
This year we have experienced a significant increase in the reluctance of some beneficiaries, particularly young people, to access services face to face. To tackle this we have made much greater use of email, messaging and video calling. However, we are identifying and responding to much higher levels of loneliness, low confidence and poor self-esteem within this age group than before the pandemic as a result of their isolation and failing mental health.
It is also important to note that many of our most vulnerable beneficiaries (of all ages) do not have access to (or are unable to use) online methods of communication. With this in mind, we actively maintain face to face contact with them as much as possible. We also provide the digitally frail with access to laptops, tablets and data in our training centre as often as needed, giving support to use them when needed.
Our food project continues to grow as demand increases week by week. On average we are still providing 3,800 meal portions every week which is more than during the height of the pandemic.
Each year it is necessary to devote a considerable amount of time and effort in finding new sources of funding and completing detailed funding applications, without which, the continuation of the Charity would not be possible.
Financial Review
The results for the year are as shown on page 6
The Trustees recognise the importance of unrestricted reserves in the current climate of cuts at all levels of government and statutory authorities. They are, therefore, pleased that it has been possible to maintain the Charity's unrestricted reserves as recommended by the Charity Commission.
3
Responsibilities of the Management Committee
The Trustees who form the Management Committee are required by law to prepare financial statements for each year which give a true and fair view of the financial activities of the Charity and its financial position at the end of the year.
In preparing those financial statements the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
-
state whether the policies adopted are in accordance with the Charities Act 2011 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue in operation
A resolution proposing Michael Adamson and Co be re-appointed as independent examiners of the charity was agreed unanimously at the Annual General Meeting held on
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on and signed on its behalf
Mrs V. Gale Trustee
4
Central Eltham Youth Project Accountants' Report
Report of the Independent Examiners to the Members Central Eltham Youth Project
We have examined the financial statements on pages 6 to 14 for the year ended 31 March 2022, which have been prepared under the accounting policies set out on page 9
Respective responsibilities of the trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
-
examine the accounts under section 145 of the Charities Act,;
-
to follow the procedures laid down in the general Directions given by the
-
Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the veiw given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
which gives us reasonable cause to believe that in any material respect the requirements
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(a) to keep accounting records in accordance with section 130 of the Charities Act; and
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(b) to prepare accounts which accord with the accounting records and to comply with the
-
accounting requirements of the Act, have not been met; or
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to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Adamson and Co Chartered Accountants
21 The Drive Hullbridge Hockley Essex SS5 6LZ
Date :
5
Central Eltham Youth Project
Statement of Financial Activities for the year ended 31 March 2022
(incorporating an Income and Expenditure Account)
| Notes Incoming resources: Incoming resources from generated funds: Voluntary income Investment income Total incoming resources 2 Resources expended: Charitable activities Governance costs Total resources expended 3 Net income for the year Transfer between funds Funds brought forward Funds carried forward 11 Statement of Financial Activities for the year ended 31 Notes Incoming resources: Incoming resources from generated funds: Voluntary income Investment income Incoming resources from charitable activities Total incoming resources 2 Resources expended: Charitable activities Governance costs Total resources expended 3 Net income for the year Transfer between funds Funds brought forward Funds carried forward 11 |
Unrestricted Restricted Total fund funds 2022 £ £ £ 162,719 81,566 244,285 38 - 38 162,757 81,566 244,323 68,201 81,566 155,419 750 - 750 68,951 81,566 156,169 93,806 - 93,806 - - - 83,833 - 83,833 177,639 - 177,639 March 2021 Unrestricted Restricted Total fund funds 2021 £ £ £ 104,036 139,750 243,786 23 - 23 - - - 104,059 139,750 243,809 18,450 140,997 159,447 750 - 750 19,200 140,997 160,197 84,859 (1,247) 83,612 - - - (1,026) 1,247 221 83,833 - 83,833 |
Total 2,021 £ 243,786 23 |
|---|---|---|
| 243,809 | ||
| 159,447 750 |
||
| 160,197 | ||
| 83,612 - 221 |
||
| 83,833 | ||
The attached notes form part of these accounts.
6
Central Eltham Youth Project Balance Sheet as at 31 March 2022
| Notes Fixed assets Tangible assets 7 Current assets Debtors 8 Cash at bank and in hand Creditors: amounts falling due within one year 9 Net current assets Net assets Funds carried forward Unrestricted funds Restricted funds Total funds 11 |
Unrestricted Restricted Funds Funds 2022 2022 £ - - |
Total Total 2022 2,021 £ - - |
|---|---|---|
| - - |
- - |
|
| 2,958 - 195,097 39,000 |
2,958 3,561 234,097 199,694 |
|
| 198,055 39,000 |
237,055 203,255 |
|
| (20,416) (39,000) |
(59,416) (119,422) |
|
| 177,639 - |
177,639 83,833 |
|
| 177,639 - |
177,639 83,833 |
|
| 177,639 - - - |
177,639 83,833 - - |
|
| 177,639 - |
177,639 83,833 |
The Management Committee is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The Management Committee acknowledges its responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
These accounts were approved by the Management Committee on
and signed on its behalf by
J Smith Trustee
V Gale Trustee
7
Central Eltham Youth Project Cash Flow Statement for the year ended 31 March 2022
| Notes Net cash used in operating activities 11 Cash flows from investing activities Interest received 2 Change in cash and cash equivalents in the period Cash and cash equivalents brought forward Cash and cash equivalents carried forward Consisting of: Cash at bank and in hand |
2022 £ 34,365 38 34,403 199,694 234,097 234,097 |
2021 £ 127,003 23 |
|---|---|---|
| 127,026 72,668 |
||
| 199,694 | ||
| 199,694 |
The attached notes form part of these accounts.
8
Central Eltham Youth Project
Notes to the Accounts for the year ended 31 March 2022
1 ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention, and are in accordance the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor.
INCOMING RESOURCES
Recognition of incoming resources
These are included in the Statement of Financial Activities when:
-
The charity becomes entitled to the resources;
-
The trustees are virtually certain that they will receive the resources; and
-
The monetary value can be measured with sufficient reliability.
Deferred income
Where grants are received in advance and specified by the donor as relating to specific accounting periods these are deferred on an accruals basis to the period to which they relate. Such deferrals are shown in the notes to the accounts and the sums involved are shown as creditors in the accounts.
Incoming resources with related expenditure
Where incoming resources have related expenditure, the incoming resources and related expenditure are reported gross in the Statement of Financial Activities.
Volunteer help
The value of any volunteer help is not included in the accounts.
Investment income
This is included in the accounts when receivable.
EXPENDITURE AND LIABILITIES
Liability recognition
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
Governance costs
These include the costs of preparation and examination of statutory accounts, the costs of the Annual General Meeting and the costs of any legal advice to trustees on governance or constitutional matters.
9
Central Eltham Youth Project Notes to the Accounts for the year ended 31 March 2022
FIXED ASSETS
Tangible fixed assets used by the charity
Items of equipment are capitalised where the purchase price exceeds £1000 and can be used for more than one year. They are valued at cost or, if gifted, at the value to the charity on receipt.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Furniture and equipment 20% on cost Fixtures and fittings 20% on cost IT equipment 33.3% on cost
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
| 2 Analysis of incoming resources Voluntary income: Restricted funds: Big Lottery Fund BBC Children in Need Berkeley Foundation Royal Borough of Greenwich WRAP DEFRA UK Youth Rausing Peoples Postcode Lottery Trust Unrestricted grants HMRC Job Retention Scheme Mayors SF L B Bromley Community Links Royal Borough of Greenwich Morrisons Foundation Sundry grants and other income Investment income Bank interest |
2022 £ 19,721 6,825 - 25,020 - - 30,000 - 81,566 13,516 7,070 38,700 - 90,000 - 13,433 162,719 38 |
2021 £ 33,630 9,100 17,500 24,020 13,000 35,000 - 7,500 |
|---|---|---|
| 139,750 | ||
| 28,905 18,200 20,860 4,000 13,572 16,201 2,298 |
||
| 104,036 | ||
| 23 |
10
Central Eltham Youth Project Notes to the Accounts for the year ended 31 March 2022
| 3 Analysis of resources expended £ General fund Staff costs 2,378 Rent and running costs 32,059 Activities programmes and equipment 33,066 Support costs 698 68,201 Independent Examiners fees 750 750 Total 68,951 Comparative analysis of resources expended £ General fund Staff costs 7,549 Rent and running costs 10,815 Activities programmes and equipment - Support costs 86 18,450 Independent Examiners fees 750 750 Total 19,200 Charitable activities: Governance costs: Governance costs: Charitable activities: |
£ Restricted funds 68,954 12,612 - - 81,566 - - 81,566 £ Restricted funds 65,689 31,670 42,690 948 140,997 - - 140,997 |
2022 £ Total 71,332 50,323 33,066 698 |
|---|---|---|
| 155,419 | ||
| 750 | ||
| 750 | ||
| 156,169 | ||
| 2021 £ Total 73,238 42,485 42,690 1,034 |
||
| 159,447 | ||
| 750 | ||
| 750 | ||
| 160,197 |
11
Central Eltham Youth Project
Notes to the Accounts for the year ended 31 March 2022
| 4 Net incoming resources for the year These are stated after charging Depreciation Independent Examiners fee Trustees expenses No trustees claimed expenses during the year (2021 : £Nil) 5 Employees Salaries Employers National Insurance costs |
2022 £ - 750 2022 £ 70,133 1,199 71,332 |
2021 £ - 750 |
|---|---|---|
| 2021 £ 72,169 616 |
||
| 72,785 |
The average number of full time equivalent employees during the year was 3 (2021: 3). No employee received emoluments of more than £60,000 per annum.
Remuneration to key management personnel in the year amounted to £ 33,960 (2021 : £ 33,687)
6 Taxation
The charitable company is exempt from Corporation Tax on its charitable activities.
7 Tangible fixed assets
| Cost At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Fixtures and fittings £ 48,851 - 48,851 48,851 - 48,851 - - |
IT Equipment £ 11,303 - 11,303 11,303 - 11,303 - - |
Total o t a £ 60,154 - 60,154 60,154 - 60,154 - - |
|---|---|---|---|
12
Central Eltham Youth Project Notes to the Accounts for the year ended 31 March 2022
| 8 Debtors 2022 £ Other debtors 2,958 2,958 9 Creditors: amounts falling due within one year 2022 £ Deferred income 39,000 Other creditors 20,416 59,416 Analysis of deferred income: Name of funder Opening Released Deferred deferral in year in year £ £ £ BBC Children in Need 6,825 (6,825) - Big Lottery Fund 11,251 (11,251) - NLCF 36,000 (36,000) - Royal Borough of Greenwich 25,000 (25,000) 39,000 79,076 (79,076) 39,000 10 Other financial commitments 2022 £ Operating leases which expire: within one year - within two to five years 30,000 in over five years - 30,000 11 2022 £ Notes Net movement in funds 93,806 Add back depreciation 7 - Less interest received 2 (38) Decrease / (increase) in debtors 603 Increase / (decrease) in creditors (60,006) Net cash used in operating activities 34,365 Reconciliation of net movements in funds to net cash flow from operating activities At the year end the company had annual commitments under non- cancellable operating leases as set out below: |
2,020 £ 3,561 |
|---|---|
| 3,561 | |
| 2021 £ 79,076 40,346 |
|
| 119,422 | |
| Closing deferral £ - - - 39,000 |
|
| 39,000 | |
| 2021 £ - 30,000 - |
|
| 30,000 | |
| 2021 £ 83,612 - (23) (1,386) 44,800 |
|
| 127,003 |
13
Central Eltham Youth Project
Movement in funds Year ended 31 March 2022
| Restricted funds: Revenue funds: Big Lottery Fund BBC Children in Need UK Fund Rausing Royal Borough of Greenwich Total Restricted Funds Unrestricted Funds: General Fund Total Unrestricted Funds Year ended 31 March 2021 Restricted funds: Revenue funds: Big Lottery Fund BBC Children in Need Berkeley Foundation Royal Borough of Greenwich WRAP DEFRA Peoples Postcode Lottery Trust Total Restricted Funds Unrestricted Funds: General Fund Total Unrestricted Funds |
Fund balances brought forward Incoming resources Outgoing resources Transfer between funds Fund balances carried forward £ £ £ £ £ - 19,721 19,721 - - - 6,825 6,825 - - - 30,000 30,000 - 25,020 25,020 - - |
|---|---|
| - 81,566 81,566 - - |
|
| 83,833 162,757 68,951 - 177,639 |
|
| 83,833 162,757 68,951 - 177,639 |
|
| Fund balances brought forward Incoming resources Outgoing resources Transfer between funds Fund balances carried forward £ £ £ £ £ - 33,630 33,630 - - - 9,100 9,100 - - 1,247 17,500 18,747 - - - 24,020 24,020 - - - 13,000 13,000 - - - 31,416 31,416 - - - 7,500 7,500 - - |
|
| 1,247 136,166 137,413 - - |
|
| (1,026) 104,059 19,200 - 83,833 |
|
| (1,026) 104,059 19,200 - 83,833 |
14