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2023-03-31-accounts

THE BEAUCHAMP LODGE SETTLEMENT (Company limited by guarantee no. 4613979 registered charity no. 1105466)

REPORT AND FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

THE BEAUCHAMP LODGE SETTLEMENT

(Company limited by guarantee no. 4613979, registered charity no. 1105466)

REPORT AND FINANCIAL STATEMENTS For the year ended 31 March 2023

CONTENTS
Page
Legal and administrative information 1
Trustees' report 2
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11

THE BEAUCHAMP LODGE SETTLEMENT

REFERENCE AND ADMINISTRATIVE DETAILS For the year ended 31 March 2023

Trustees Charles Middleton, Chair ( until 22 Nov 2022) and Treasurer
Diamond Nee ( resigned 13 Nov 2022)
Mark Bensted
Angela Piddock, Vice Chair (from 22 Nov 2022)
Hilary Nightingale, Chair ( from 22 Nov 2022)
Dameon Sandhu
Gaia Segal ( appointed 23 Feb 2023)
Eleanor Wyant (appointed 23 Feb 2023)
Secretary Simon Ryder
Patron Anne Mallinson
Chief Executive Simon Ryder
Company reg. no. 4613979
Charity reg. no. 1105466
Registered office The Floating Classroom
Great Western Studios, Unit 63
65 Alfred Road
London W2 5EU
Independent Examiners Alexander Dave
5 Braemore Court
Cockfosters Road
Herts EN5 5BY
Bankers Unity Trust Bank plc
Four Brindleyplace
Birmingham
BR1 2JB
Solicitors WGS Solicitors
133 Praed Street
London
W2 1RN

1

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

The Trustees submit their annual report and the financial statements of The Beauchamp Lodge Settlement for the year ended 31 March 2023. The Trustees confirm that the annual report and financial statements of the Charity comply with current statutory requirements, the requirements of the Charity's governing document and the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' (SORP FRS102 Revised 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The management of the Charity is the responsibility of a Board of Trustees who are elected and co-opted under the terms of the constitution. Trustees are recruited according to their particular skills, knowledge and experience which is then matched to the needs of the Board of Trustees. When gaps in skills, knowledge and experience are identified new Trustees are sought to fill these gaps. Existing Trustees are encouraged to play an active part in recruiting new Trustees to the board.

The Chief Executive, Simon Ryder, is accountable to the Trustees for the day-to-day management of the Charity. The other staff employed by the Charity are accountable to the Chief Executive.

OBJECTIVES AND ACTIVITIES

Organisational Vision

We will help people from a diverse range of backgrounds achieve their full potential through transformational learning experiences that broaden horizons and build confidence.

BLS Mission Statement

BLS provides imaginative, engaging and fun learning experiences inspired by the locations where they take place: London’s waterways and green spaces. Working with a diverse range of people including those from disadvantaged backgrounds, we encourage curiosity, take a delight in discovery and forge a sense of kinship with the natural world for people living in the city.

ACHIEVEMENTS AND PERFORMANCE

Delivering Public Benefit

The main activities we have undertaken in the 12 months to the end of March 2023 in furtherance of our mission and objectives are set out below.

Our charitable activities focus on the provision of fun, hands-on learning opportunities for people of all ages on board our Floating Classroom. All of these activities are undertaken to further our charitable purposes for the public benefit.

The Trustees of BLS will continue to adhere to Charity Commission guidance on public benefit in deciding the activities the charity undertakes now and in the future.

2

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

The Operational Context

Last year’s annual report characterised the preceding 12 months as a period of recovery for BLS after the turbulence experienced at the height of the pandemic. Although the organisation continued to be challenged, we reported that Floating Classroom learning activities had resumed, gradually at first, then with real momentum and enthusiasm. Alongside this, we had built back commercial hire income to a point where it was making a significant contribution to the charity’s funding base again.

The following pages provide more details of the work we have undertaken over the course of 2022-23, the means by which they are funded and a statement of our financial position and outlook at the end of the year.

Learning Activities

The restoration of core learning activities for primary schools on the Floating Classroom (FC) continued apace in 2022-23. Alongside this, we continued to diversify and expand our “beyond schools” provision and to develop new project partnerships.

Progress was accelerated by the recruitment of a Lead Teacher (LT) – funded by a grant from the John Lyon’s Charity – to work with our Learning Programme Manager (LPM). This increase in organisational capacity afforded us the time to be more reflective about our practice, and how it is evolving in the aftermath of the pandemic.

Consequently, we now define two distinct types of provision, each with two sub-categories:

b) Enrichment activities for community groups and other charities. Participants recruited by those groups and charities.

In terms of tangible outputs, over the 12 months in review, the Floating Classroom achieved the following:

3

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

We are very pleased to report that the amount of learning and enrichment sessions delivered in 2022-23 was 51% higher than the previous year and the number of participants in these activities increased by 46%. This represents an impressive recovery from the position we found ourselves in two years ago, and demonstrates that demand for the Floating Classroom’s learning and nurturing experiences is as strong as ever.

Commercial Boat Hire Activity – The Electric Barge

The Floating Classroom is marketed for commercial hire as The Electric Barge. In 2016, the charity established a trading subsidiary for these activities; its sole purpose is to generate income in support of our educational mission. All profit earned by The Electric Barge is donated to the “parent” charity.

The trading subsidiary – The Electric Barge Limited - has a two-person board of directors comprising the BLS Treasurer and the BLS Chief Executive. The day-to-day commercial activities are led by our Events Manager.

One of our priorities for 2022-23 was to continue to accelerate the pace of recovery in income generated from our commercial activity. It is pleasing, therefore, to report that commercial hire trips grew from 72 to 118, a year-on-year increase of 64%.

The Electric Barge’s turnover increased year-on-year by 121% to £269,845. This generated an operating profit of £23,160, up by 19% on the figure for 2021-22.

Our previous “best” year in terms of commercial hire was 2019-20 when we hosted 144 events on board. The 118 undertaken in 2022-23 is a very strong recovery from the pandemic depths and our target next year will be to match the income levels achieved in the year prior to Covid.

4

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

Property Ownership

BLS owns the freehold on a four-storey property on Harrow Road, London W10.

The ground and first floors of the property are rented to a well-established local firm of family law solicitors. The lease agreement with the tenant was renewed for 6 years in August 2021.

As detailed in last year’s Annual Report, the occupant of the top floor flat exercised his statutory right to extend the 99-year lease on this property in October 2021. This process was concluded in summer 2022.

Renting the property at 453 Harrow Road ensures BLS a valuable additional stream of unrestricted income. As such, it is an important means of safeguarding the long-term sustainability of the charity.

FINANCIAL REVIEW

Since 2017 BLS has presented separate accounts for the charity and its subsidiary. This review addresses the performance of both entities.

In financial terms, our intention in 2022-23 was to build on the recovery started the previous year. Essentially, this meant continuing to grow grant funding – with a three-fold intent: building capacity, developing and delivering discrete learning and enrichment activities, and keeping the boat a safe, accessible and welcoming environment – restoring commercial income to pre-pandemic levels and consolidating income from our investment property.

We have made great strides towards achieving these objectives, with the charity’s annual income up by 37% to £428,087. This has been propelled by a 60% increase in grant income and buttressed by a 58% rise in earnings from The Electric Barge. Alongside this, income from the investment property was boosted by the fees paid by the occupier exercising their right to extend their lease.

It should be acknowledged that costs have increased significantly over the same period. The principal areas where expenditure has grown are boat repairs and maintenance, and staffing.

In the case of the former, this was exceptional expenditure on interior and exterior refurbishment of the boat, fully funded by grants from John Lyon’s Charity, the Story of Christmas Appeal and the Rose Foundation.

With the latter, the increase in costs on staff is also fully funded via grants from the John Lyon’s Charity. The posts covered by these grants have provided the increased capacity that has made our achievements in restoring, then expanding and diversifying, learning and enrichment activities possible over the past two years.

However, funding for these posts comes to end over the next 12 months and the defining challenge for us now is to replace it.

We have responded to the challenges of the last three years with imagination, resourcefulness, tenacity, and ambition. Consequently, at the end of 2022-23 we are financially stable and thriving as a provider of exceptional learning and enrichment experiences for children, young people and families.

5

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

We know from feedback, case studies and testimonies from participants, that the value and impact of our work has never been greater than in the last three years. It follows that we do not want to take a backward step now. Over the coming 12 months, we will be doing everything we can to secure the funding we need to realise our plans for the future.

RISK MANAGEMENT

The Trustees reviewed and updated the BLS risk register in January 2022. Where relevant, strategies and systems have been devised and implemented to minimise the possible impact of these risks. The risk register will next be reviewed and updated in January 2024.

STATEMENT OF DIRECTORS’ AND TRUSTEES’ RESPONSIBILITIES

Charity law and the Companies Acts require the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of the surplus or deficit of the charity. In preparing those financial statements the Board is required to:-

The trustees are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which are sufficient to show and explain the charity’s transactions and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

6

THE BEAUCHAMP LODGE SETTLEMENT

TRUSTEES' REPORT For the year ended 31 March 2023

METHOD OF PREPARATION OF ACCOUNTS

The trustees, in their capacity as directors, state that the accounts have been prepared in accordance with the provisions applicable to companies subject to small companies regime.

This report was approved and authorised for issue by the Trustees on 28 November 2023 and signed on its behalf by:

HILARY NIGHTINGALE Chair

7

THE BEAUCHAMP LODGE SETTLEMENT

Independent Examiner's Report to the Trustees of The Beauchamp Lodge Settlement

I report to the trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of The Beauchamp Lodge Settlement (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity’s trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable company’s financial statements carried out under section 145 of the Charities Act 2011 (‘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

Since the charitable company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW , which is one of the listed bodies.

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:

Ø accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

Ø the financial statements do not accord with those records; or

Ø the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a ‘true and fair view which is not a matter considered as part of an independent examination; or

Ø the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

A Dave

A Dave (Nov 20, 2023 12:23 GMT)

A Dave FCA Alexander Dave Chartered Accountants 5 Braemore Court Cockfosters Road Barnet Date: 28-Nov-2023

8

THE BEAUCHAMP LODGE SETTLEMENT (company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 March 2023

Unrestricted
Funds
Notes
2023
£
Income from:
135,060
2
107,500
3
13,957
4
36,844
Other Income
-
Total Income
293,361
Expenditure on:
Staff costs
103,851
Freelance workers and professional fees
-
Bad debts
-
Repairs, maintenance and mooring costs
55,312
Insurance
10,205
Property and venue hire costs
5,453
Catering costs
1,916
176,737
Office costs
5
70,806
Other costs:
Marketing
-
Bank charges
1,964
Loan Interest
3,831
Audit fees
2,600
TOTAL RESOURCES EXPENDED
255,938
37,423
Transfer between funds
14
-
37,423
9
-
NET MOVEMENT IN FUNDS
37,423
TOTAL FUNDS AT 1 APRIL 2022
526,813
TOTAL FUNDS AT 31 MARCH 2023
564,236
£
Gains/ (loss) on revaluation of fixed
assets Investments
Donations and legacies
Net incoming/(outing) resources after
transfer
Grants
Income from schools, community
groups and private hire
Net income/(expenditure)
Other trading activities
Charitable activities		 Restricted
Funds
2023
£
-
134,726
-
-
-
134,726
23,719
24,264
-
45,611
1,885
7,437
-
102,916
31,810
-
-
-
-
134,726
-
-
-
-
-
-
Nil
£		 Total
Funds
2023
£
135,060
242,226
13,957
36,844
-
428,087
127,570
24,264
-
100,923
12,090
12,890
1,916
279,653
102,616
-
1,964
3,831
2,600
390,664
37,423
-
37,423
-
37,423
526,813
564,236
**£ **		 Total
Funds
2022
£
88,342
151,225
33,169
40,275
-
313,011
82,015
23,490
2,175
42,941
8,975
7,758
5,139
172,493
87,576
1,000
186
2,968
3,335
267,558
45,453
-
45,453
120,000
165,453
361,360
526,813
_£ _

9

THE BEAUCHAMP LODGE SETTLEMENT

BALANCE SHEET As at 31 March 2023

Notes
2023
£
£
FIXED ASSETS
Investments
9
410,000
CURRENT ASSETS
Debtors
10
172,006
Cash at bank and in hand
159,205
331,211
CREDITORS: amounts falling due
within one year
11
(129,256)
NET CURRENT ASSETS
201,955
TOTAL ASSETS LESS CURRENT LIABILITIES
611,955
CREDITORS: amounts falling due
after one year
12
(47,719)
NET ASSETS
564,236
£
FUNDS
Revaluation reserve
14
129,728
Restricted funds
14
-
General fund
14
235,124
Designated funds
14
199,384
564,236
**£ **		 £
147,372
192,604
339,976
(169,374)		 2022
£
410,000
170,602
580,602
(53,789)
526,813
£
129,728
-
197,701
199,384
526,813
_£ _

The Trustees are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their 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. -"

HILARY NIGHTINGALE, Chair

Charles Middleton

Charles Middleton (Nov 17, 2023 19:54 GMT)

CHARLES MIDDLETON, Treasurer

Approved by the Trustees on :

28 November 2023

10

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

1. ACCOUNTING POLICIES

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice in accordance the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102 and Charities SORP FRS 102 ( issued in October 2019), applicable accounting standards and the Financial Reporting Standard for Smaller Entities).

The charitable company meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting or policy note.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objects of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Incoming resources

Grant income is recognised in the period for which all incoming resources are included in the Statement of Financial Activities when the Charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Such income is only deferred when: - The donor specifies that the grant or donation must only be used in future accounting periods; or - The donor has imposed conditions which must be met before the charity has unconditional entitlement.

Resources expended All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Overheads have been allocated to activities proportionately to income.

Investments Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Tangible fixed assets and depreciation

All assets costing more than £1,000 are capitalised.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, evenly over their expected useful lives as follows:

Buildings - 50 years
Furniture, fittings and equipment - 3 years
Computer Equipment - 100% on acquisition
Operating leases

Rentals applicable to operating leases where substantially all of the benefits andto operating leases where substantially all of the benefits andriskri s ks of o fwnership remain with theownership remain with the lessor are charged to the Statementlessor are charged to the Statement of Financial Activities as incurred.of Financial Activities as incurred.

Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

11

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

2.
GRANTS
Strand Parishes Trust
British Land
Westminster City Council
Kusuma Trust
Young Westminster Foundation
William Gibbs Religious & Educational Trust
Rose Foundation
Westminster Community Priorities Programme
Story of Christmas
Westminster Almshouses Foundation
John Lyon's Charity
3.
BOAT HIRE
Educational income from schools and community
groups		 Unrestricted
Funds
2023
£
-
-
-
-
-
-
-
-
107,500
107,500
£
Unrestricted
Funds
2023
£
13,957
13,957
**£ **		 Restricted
Funds
2023
£
-
12,315
18,715
7,675
28,430
8,750
10,000
10,230
35,611
3,000
-
134,726
£
Restricted
Funds
2023
£
Nil
£		 Total
Funds
2023
£
-
12,315
18,715
7,675
28,430
8,750
10,000
10,230
35,611
3,000
107,500
242,226
£
Total
Funds
2023
£
13,957
13,957
**£ **		 Total
Funds
2022
£
6,000
2,500
6,965
6,499
27,588
7,500
5,000
-
12,506
6,000
70,667
151,225
£
Total
Funds
2022
£
33,169
33,169
_£ _

12

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

4.
Other trading activities
Other Income
Property rent
5.
OFFICE COSTS
Staff costs- admin
Staff training & recruitment
Rent
Rates
Telephone and fax
Website
Insurance
Vat disallowed
Sundry expenses
Travel and subsistence
Computer costs
Postage and stationery
Accountancy
Affiliation fees and training
Professional Fees
6.
STAFF NUMBERS AND COSTS
Wages and salaries
Social security costs
Pension costs		 Unrestricted
Funds
2023
35,870
36,103
£
Unrestricted
Funds
2023
£
41,506
2,461
7,024
844
1,976
281
1,796
4,682
1,873
122
929
208
5,193
1,138
773
70,806
**£ **		 Restricted
Funds
2023
Nil
£
Restricted
Funds
2023
£
18,648
1,106
3,155
379
888
126
807
2,103
841
55
418
93
2,333
511
347
31,810
**£ **		 Total
Funds
2023
741
35,870
36,844
£
Total
Funds
2023
£
60,154
3,567
10,179
1,223
2,864
407
2,603
6,785
2,714
177
1,347
301
7,526
1,649
1,120
102,616
£
2023
£
87,827
3,891
-
91,718
**£ **		 Total
Funds
2022
13,728
26,547
40,275
£
Total
Funds
2022
£
51,720
943
9,709
795
2,602
667
1,413
8,038
1,572
207
751
248
6,000
2,382
529
87,576
£
2022
£
85,360
7,571
2,968
95,899
_£ _

The Charity employs a Chief Executive, a Learning Programme Manager, a Lead Teacher, an Events Manager and an Administrator.

No employee received remuneration of more than £60,000.

Average number of employees

5 5

7. TRUSTEES

During the year, no Trustees received any remuneration or reimbursed expenses in their role as Trustees (2022 - Nil).

13

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

8. TANGIBLE FIXED ASSETS

Cost
At 1 April 2022 and 31 March 2023
Transferred to investments
Depreciation
At 1 April 2022
Transferred to investments
At 31 March 2023
Net book value
At 31 March 2022
At 31 March 2023		 Furniture,
fittings and
equipment
£
12,361
-
12,361
-
12,361
Nil
£
Nil
£		 Total
£
12,361
-
12,361
-
12,361
Nil
£
Nil
£

9. INVESTMENT PROPERTY

Valuation
At 1 April 2022
Revaluation surplus
At 31 March 2023
Costs
Investment Property
Listed investments at market value		 2023
£
-
47,000
47,000
£
Nil
£		 Other
investments
£
410,000
-
410,000
£
2022
£
-
47,000
47,000
£
Nil
£

The valuation on the investment property was provided by Sloan Property Services a firm of Chartered Surveyors on 19 February 2022 at value of £410,000.

10.
DEBTORS
Due within one year
Trade debtors
Due from group undertakings
Prepayments and accrued income
Other debtors		 2023
£
5,649
126,730
24,619
15,008
172,006
**£ **		 2022
£
5,669
117,624
10,662
13,417
147,372
_£ _

14

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts
Trade creditors
Social security and other taxes
Accruals
Deposits received and deferred
Deferred grant income
12.
CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
Bank loans
13.
LOANS
Loans payable within two-five years
Loans not wholly repayable within five years:
The loans are repayable as follows:
Between one and two years
Between two and five years
After five years
 2023
£
6,448
24,589
4,025
2,330
18,444
70,421
129,256
£
2023
£
47,719
2023
£
17,974
42,700
60,674
£
6,558
17,974
42,700
67,232
**£ **		 2022
£
6,638
10,883
3,096
21,990
775
125,992
169,374
£
2022
£
53,789
2022
£
24,882
42,700
67,582
£
6,208
24,882
42,700
73,790
_£ _

The loan is secured on 453 Harrow Road and is repayable over period of 15 years with interest rate charge of 4% over Bank of England base rate.

15

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

14.
STATEMENT OF FUNDS
DESIGNATED FUNDS
Investment Property Fund
RESTRICTED FUNDS
British Land
Story of Christmas
Young Westminster Foundation
Westminster Alehouses Foundation
Kusuma Trust
Rose Foundation
Westminster City Council
William Gibbs Religious & Educational
Trust
SUMMARY OF FUNDS
Designated Funds
General fund
Revaluation reserve
Restricted funds		 Brought
Forward
£
199,384
199,384
£
Brought
Forward
£
-
-
-

-
Nil
£
199,384
197,701
129,728
-
526,813
**£ **		 Incoming
Resources
£
-
Nil
£
Incoming
Resources
£
12,315
35,611
28,430
3,000
7,675
10,000
18,715
8,750
134,726
£
-
293,361
-
134,726
428,087
**£ **		 Resources
Expended
£
-
Nil
£
Resources
Expended
£
(12,315)
(35,611)
(28,430)
(3,000)
(7,675)
(10,000)
(81,715)
(8,750)
(134,726)
£
-
(255,938)
(134,726)
(390,664)
£		 Transfers /
Surplus on
revaluation
£
Nil
£
Transfers /
Surplus on
revaluation
£
-
-
-
-
-
-
-
-
Nil
£
-
-
-
-
Nil
£		 Carried
Forward
£
199,384
199,384
£
Carried
Forward
£
-
-
-
-
-
-
(63,000)
-
(63,000)
£
199,384
235,124
129,728
-
564,236
**£ **

16

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

The above grants were all given to fund various aspects of BLS activities as follows:

Grants Received by BLS in 2022-2023

British Land ( BL ) awarded BLS a grant of £11,085 in February 2022 to deliver Life Afloat 10 . The project took place in MayJuly 2022, so the entire grant was carried forward into 2022-23. In addition, BL awarded BLS a supplementary grant of £1230 to recognise the impact of inflation on the cost of delivering the project.

In February 2023, BL made a grant of £12,271 to BLS to deliver Life Afloat again in the new school year. The project took place in June-July 2023, so the entire grant was carried forward into2023-24.

In March 2022 the Community Priorities Programme awarded BLS a grant of £10,230 to deliver 10 learning trips for community groups in North Westminster. The first instalment of the grant - £6138 – was paid immediately and carried forward into 2022-23. Activities took place in summer 2022 and the balance of the grant was received in August 2022.

In March 2022 BLS was awarded a grant of £3100 from the Holiday Activities and Food (HAF) programme to deliver an Easter holiday puppet-making and performance project on the Floating Classroom in partnership with the Puppet Barge. The first instalment of £2325 was paid in March and carried forward in full to 2022-23. On completion of the project, the balance of £775 was paid in May 2022.

A further grant of £3255 from the HAF Programme was awarded to BLS to deliver another puppet-making and performance project during the 2022 Christmas holidays.

John Lyon’s Charity’s (JLC) Main Grant of £35,000 covered the cost of the Learning Programme Manager’s salary in 2022-23. The grant comes to an end on 31 December 2023 so £26,250 was carried forward into 2023-24.

JLC awarded BLS an annual Additional Support Grant of £47,500 for three years in August 2021. This is to cover the salary cost of two new posts: a full-time Administrator and a part-time Lead Teacher. £31,667 of the grant was allocated to 2022-23 and £15,833 was carried forward into 2023-24.

In December 2021 JLC awarded BLS a Refurbishment Grant of £21,500 towards the cost of interior carpentry works. The grant was released in August 2023 and spent in full when the works took place in October – November 2023.

The Kusuma Trust awarded BLS a grant of £7675 to develop and deliver a forest school project. This took place in JuneAugust 2022.

In July 2021 BLS was awarded a grant of £5000 by the Rose Foundation towards the cost of maintenance and repair works on the boat. The whole of this grant was carried forward into 2022-23 to fund an upgrade of the engine room fire safety system in July 2022.

BLS was awarded another grant of £5000 by the Rose Foundation in July 2022. This was used to meet the cost of replacing the boat’s central heating system in January 2023.

In January 2021 the Story of Christmas Appeal awarded BLS a grant of £48,117 towards the cost of refurbishments works on the boat. The balance of the grant - £35,611 - was carried forward into 2022-23. This was used to cover the cost of completely refitting the boat’s kitchen and to meet the balance of the carpentry costs alluded to earlier.

Strand Parishes Trust awarded BLS a grant of £6000 towards the running costs of the Floating Classroom. This grant was carried forward in full to 2023-24.

Westminster Alms-houses Foundation awarded BLS a grant of £6000 towards the costs of delivering learning activities for Westminster schools on the FC. Half of this was utilised in 2022-23 and the balance was carried forward to 2023-24.

Westminster City Council (WCC) Bayswater Ward Councillors awarded BLS a grant of £2990 in 2022-23 to deliver 4 learning trips on the Floating Classroom for pupils at the two primary schools in the ward. In addition, £1013 of unspent grant from this source was brought forward into 2022-23 from the previous year.

WCC Harrow Road Ward Councillors awarded BLS a grant of £3040 in 2022-23 to deliver 4 learning trips on the Floating Classroom for pupils at the primary school in the ward.

WCC Hyde Park Ward Councillors awarded BLS a grant of £3360 in 2022-23 to deliver 6 learning trips on the Floating Classroom for pupils at primary schools in the ward.

17

THE BEAUCHAMP LODGE SETTLEMENT

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023

WCC Lancaster Gate Ward Councillors awarded BLS a grant of £3360 in 2022-23 to deliver 6 learning trips on the Floating Classroom for pupils at primary schools in the ward. Four were delivered within the year and the balance of the grant was carried forward into 2023-24.

WCC Little Venice Ward Councillors awarded BLS a grant of £2990 in 2022-23 to deliver 3 learning trips on the Floating Classroom for pupils at local primary schools. Two were delivered within the year and the balance of the grant was carried forward into 2023-24.

WCC Maida Vale Ward Councillors awarded BLS a grant of £4552 in 2022-23 to deliver 4 learning trips on the Floating Classroom for pupils at the two primary schools in the ward.

In July 2023 BLS was awarded a grant of £2075 from the WCC Summer Activity Fund to deliver learning and enrichment activities for children and young people over the 2022 school summer holiday period.

William Gibbs Religious & Educational Trust (WGRET) awarded BLS a grant of £15,000 towards running costs in October 2021. £6250 was allocated to the year 2021 and the balance of £8750 was carried forward into 2022-23.

The Young Westminster Foundation (YWF) awarded BLS a Strengthening the Sector grant of £20,000 to develop and deliver its provision for young people. This was received in March 2022 and brought forward into 2022-23 in its entirety.

In December 2022 YWF awarded BLS a Brighter Futures grant of £6200 to deliver learning and enrichment trips for organisations working with children and young people in Westminster. The whole of this grant was carried forward into 202324

13. Operating lease

The charity entered into a formal agreement to pay £5,000 plus vat for the boat for period of 25 years commencing 12 November 2007. However it was also agreed that this payment would not be collected and would be treated as donation in kind.

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Fixed asset investments
Net current assets
Creditors due in more than one year		 Unrestricted Funds
Designated
General
Funds
Funds
2023
2023
£
£
-
199,384
80,888
-
201,955
(47,719)
199,384
£
235,124
**£ **		 Revluation
Funds
2023
£
129,728
-
Nil
£		 Total
Funds
2023
£
-
410,000
201,955
(47,719)
564,236
**£ **		 Total
Funds
2022
£
-
410,000
170,602
(53,789)
526,813
_£ _

18

BLS final accounts including Trustees Report 2023

Final Audit Report

2023-11-20

Created: 2023-11-13 By: Simon Ryder (ade@theelectricbarge.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA1cAiaFomI2ERrPb-hfmhqerIhNk1otBV

"BLS final accounts including Trustees Report 2023" History

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