## **INSPIRE AT ST PETER’S**
**(A Company Limited by Guarantee) ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2021**
**Charity Registration Number 1106693 Registered Company Number 04944794**
**AZETS AUDIT SERVICES Greytown House 221/227 High Street Orpington Kent BR6 0NZ**
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **CONTENTS**
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Chair’s Foreword|2|
|Report of the Directors|3 - 11|
|Independent Examiner’s Report|12|
|Statement of Financial Activities|13 – 14|
|Balance Sheet|15|
|Statement of Cash Flows|16|
|Notes to the Financial Statements|17 - 24|
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
|**Trustees**|Robert Smeath – Chair|
|---|---|
||Peter Chadwick – Company Secretary|
||Rev. Alan Wild – Treasurer|
||Lahan Biodun|
||Cllr. Lorraine Lauder|
||Alexandra Loydon|
||Rev. Andrew Moughtin-Mumby|
||Sheila Saunders (Resigned 11 September 2020)|
||Theophilia Shaw|
||Nicholas Weedon|
|**Key Management Personnel**|Nigel Scott Dickeson - Chief Executive|
||Sarah Parry – Parenting Programme Manager|
||Zara Lloyd – Young People’s Programme Manager|
|**Registered Office**|The Crypt at St Peter’s|
||Liverpool Grove|
||London|
||SE17 2HH|
|**Independent Examiner**|M A Wilkes FCA|
||Azets Audit Services|
||Greytown House|
||221/227 High Street|
||Orpington|
||Kent|
||BR6 0NZ|
|**Bankers**|HSBC Bank Plc|
||47 Rye Lane|
||Peckham|
||London SE15 5ET|
1
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **CHAIR’S FORWARD**
## **Chair’s Foreword**
COVID 19 has continued to make matters very difficult for Inspire as a lot of our free income is usually provided by room bookings which we have not been able to deliver due to national restrictions.
As Chair I was again greatly impressed by the commitment of InSpire’s staff members in continuing to provide our core support programmes despite the challenges of three national lockdowns and the numerous restrictions which we had to comply with.
The communities we support already live in some of the most deprived areas of London and their own social challenges have only increased due to the pandemic which in turn were reflected in the significant demands placed on our charity’s capacity.
Despite that our Chief Executive Nigel Scott-Dickeson has continued to look for and secure funding to help us through the last year and has succeeded as these results show.
Funding is always a challenge for the charity but our work has continued, primarily online, and the Trustees are delighted with the impact of our programmes and the support we have been able to deliver to local people.
As we come out of the pandemic we continue to ensure that our work is relevant to our beneficiaries and this would not be possible without the support of many new and existing benefactors who assisted our cause, sometimes with the help of essential emergency financial assistance. We hope that confidence in our mission will continue throughout the unpredictable times that lie ahead.
Robert Smeath Date: 27 October 2021
2
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
The Trustees present their report and financial statements for the financial year ending 31 March 2021. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014 as amended by Update Bulletin 1 & 2.
## **Objectives and Activities**
The board confirms that InSpire’s vision and mission statement as still relevant:
Vision – To build and support an inspired Walworth.
Mission - Creating a safe welcoming space with opportunities which enable our Walworth communities to grow and flourish.
Guiding values -
1. Inspire is inclusive believing that everybody matters
2. We are honest, reliable and transparent
3. We are compassionate when circumstances are difficult
4. We celebrate aspiration and achievement
The organisation’s aims, ‘to operate a local centre where people can creatively and imaginatively increase their skills, develop their confidence and achieve a sense of community’, are still relevant and the organisation’s reason for being. More specifically, the charity’s stated objects are:
- the promotion of community cohesion in the parish of St Peter’s, Walworth, in the London Borough of Southwark and the relief of social exclusion and economic disadvantage, particularly among single parents, young people and older people.
- the provision of support and vocational skills to assist beneficiaries to enter or re-enter employment.
- providing a range of complementary community activities and clubs, particularly for young people.
To meet these aims InSpire offers a safe, welcoming and creative space in which local residents can access a range of services, learning and creative opportunities that enhance well-being and a sense of community.
## **Public benefit statement**
The Charity Commission’s general guidance on public benefit is used as a basis to review InSpire’s aims and objectives and in planning any future activities. In particular, we have considered how our various programmes will directly contribute to the aims and objectives that we have set. Our Trustees are therefore satisfied that the charity at least meets those Charity Commission’s guidelines in delivering any public benefit.
InSpire’s community support programmes continue to adapt and evolve in response to increased demand, mainly due to the significant inequalities which arose throughout the COVID pandemic, having especially affecting those from black and minority communities. Young people aged 11-18 were still able to participate in our 2inSpire’s youth clubs, sports and creative activities which often had to be adapted into remote sessions during lockdowns. InSpire to Work, our employability programme, continued to assist young people aged 16-25 who were most in need of our support and guidance as unemployment levels greatly increased in Southwark. Our parenting programme continued to support both young parents and their families who found themselves in crisis or experiencing adversity especially as those circumstances became magnified during the pandemic. Due to the three COVID lockdowns and other restrictions imposed from March 2020, it was only possible to operate our ‘InSpire to Grow’ gardening group with activities outdoors which could be safely adapted due to limits on numbers able to attend.
3
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
During the pandemic, some of our activities had to be scaled back with many others adapted at short notice so we could safely continue supporting as many beneficiaries as possible in line with national regulations and guidance.
## **Achievements and performance**
## _InSpire to Work: Youth Employment Support Programme_
To add value to the “Into Work” (ITW) programme, some new projects were created that could be integrated to engage more young people and provide extra motivation by building their skills to get them ready for work. Within Southwark, the COVID pandemic has more noticeably affected the 18-25 age group, particularly if they come from black and other minority ethnic communities. Our current estimate is that 40% of young people from minority communities living in Southwark are either unemployed or working in the very precarious ‘gig economy’.
The main emphasis of our ‘Into Work’ programme is to provide one to one advice and support sessions with young people aiming to assess what they may be experiencing and to ascertain their mental wellbeing before integrating them into the programme. Once we recognise they are in the right place to enter into further education or work, we can then offer a range of support which will extend their opportunities. These include creating stand out CV’s, covering letters, interview techniques and in-house workshops which help to improve skills and abilities.
During 2020-21, the InSpire to Work programme assisted 42 young people. Our most major challenge was assisting those needing advice and mentoring having found themselves out of work during the first months of pandemic and whenever possible, guiding them back into new employment opportunities.
## _InSpire Parents_
During the last financial year, the Parenting Programme provided support to over 60 women, with many of them benefitting from our bursary awards made possible by a dedicated grant fund. The majority of the women we have worked with have benefitted from the dual support of our advocacy service with financial support for essential expenditure where demand increased significantly due to the pandemic’s economic impact. During the three lockdown periods and other restrictions, we maintained the parenting programme throughout and if necessary communicated by phone or calling on-line. Every woman who requested help received a service with all of our existing relationships maintained, as well as engaging new young parents.
Our partnership with the Family Nurse Partnership (FNP) in Southwark continues to strengthen. This specialist team of nurses support young mothers under the age of 21 and they continued to make regular referrals to the Parenting Programme. We also worked alongside several family workers and social workers during the year, particularly supporting young women with children on child protection plans and those experiencing difficulties with temporary accommodation. Housing difficulties continue to provide the majority of requests received for assistance. We ensured that several young mums were offered temporary accommodation to safeguard their stability and also managed to assist several women who were moved from poorly located temporary accommodation back into Southwark where their community and support networks existed.
Young mothers and their children are frequently sent out of the Borough due to lack of local housing supply, away from their emotional or practical support networks, community and many professionals who support them and their children. We work hard to advocate for these parents and children to remain within their community.
## _‘2InSpire’Youth Group_
InSpire’s youth work continues to provide essential support for over 90 local young people aged 11-18. Many of them underachieve at school or lack positive role models in their families and become NEET (not in education, employment or training). They often lack self-belief, with low confidence and aspirations and without offering our ‘2inSpire’ activities and opportunities, we know they could easily become vulnerable to involvement in anti-social behaviour, gang culture, drug or alcohol abuse and criminal activity. During the pandemic, most of our young people stopped attending school and were home in the day under lockdown restrictions, leaving us trying to decide how to best engage with them because all our usual forms of making contact were broken so abruptly.
The three national lockdowns and other COVID restrictions created some of the most significant challenges for this group who were already ‘hard to reach’ as their isolation worsened even more so during those times. Three ‘remote’ lockdown activity programmes had to be created at very short notice which helped to keep our young people engaged.
4
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
During the third lockdown, we recruited a volunteer maths teacher who provided top-up tutorials for 12 teenagers and an on-line weekly Drama Group was formed which really helped improve the mental health and resilience of the teenagers who attended. Some of our young people also created two lockdown podcasts assisted by a local media production company as a way to express their personal feelings and experiences.
When it was possible to arrange activities outdoors while restrictions were eased, our football and sports sessions were in very high demand to the extent that we had to split the age groups of those attending. Due to the increase in local food poverty, which became more prevalent during the pandemic, we also provided hot meals during our Friday evening youth group sessions which were greatly appreciated.
## _InSpire Adults_
Our offer to older residents by providing various activities was significantly affected by the pandemic lockdowns and ‘group gathering’ restrictions:
## _‘Inspire to Grow’ Gardening group_
These weekly sessions that support local people with varying needs including health, mental health and learning disabilities, were also delayed by the first major lockdown in March 2020. From July, they were able to resume outdoor sessions with limited numbers by qualifying as a ‘critical support group’ until the end of October when the second lockdown started. Being able to resume during the summer months was a lifeline for many group members who had been isolated and by meeting their friends again, this greatly boosted their wellbeing and general moral.
## _Digital Inclusion_
It was not possible to safely run these sessions due to the COVID lockdowns and indoor group safety restrictions which were in place throughout the financial year.
## _Café Crypt_
The refit and refurbishment of the Café’ is now complete following receipt of a major capital grant. However, our quest to secure revenue funding continues so this facility can be re-opened as a not-for-profit community resource that can assist local food poverty as part of the Walworth Neighbourhood Food Model.
## **Partnership Work**
InSpire continues to develop mutually beneficial partnerships with a wide range of organisations in the public, voluntary and private sectors, both locally and Borough wide. We enjoy positive relationships with other charity and community sector providers in addition to local health agencies such as the Family Nurse Partnership who are our main referral source for young parents.
These partnerships form a critical part of our organisation’s strategy to provide community hubs where residents can obtain a wealth of information under one roof that can often be used to access more targeted services. Some services which were usually able to use The Crypt were adversely affected during the pandemic, but our meeting room facilities were made available whenever exemptions were provided for ‘critical support groups’.
## Examples include:
## _ARTIC_ (Art in Communities)
This programme was also severely affected by the pandemic, but we were able to host a number of sessions aimed at improving older people’s IT skills which assisted their ability to communicate on-line.
5
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
_Alcoholics Anonymous (AA) and Narcotics Anonymous (NA)_
InSpire was able continue supporting those struggling with addiction during the pandemic by providing space for their weekly meetings at The Crypt with some limits on numbers attending because they were classified as a ‘critical support group’.
## _Partnerships_
Key Partner organisations include:
ARTIC Community Cycleworks Community Southwark Creation Trust Livesey Exchange Notting Hill Genesis Southwark Council St Peter’s Church The Walworth Group
## **Statement on Public Benefit**
The objectives and activities, achievement and performance sections of this report clearly set out the activities which the charity undertakes for the public benefit. The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity.
## **Financial Review**
Total income for the year was £468,639 (2020: £432,289) of which £264,057 (2020: £346,151) was from restricted funding streams. Only £8,735 (2020: £73,641) of the total unrestricted income of £204,582 (2020: £86,138) was able to be generated through room hire due to COVID pandemic lockdowns and other safety restrictions.
Total expenditure for the year was £379,195 (2020: £502,793) of which £210,055 (2020: £383,654) was spent on restricted activities.
For the year ended 31 March 2021, there was an excess of income over expenditure of £89,444 (2020: £70,504 deficit) of which, after transfers between funds, £55,695 (2020: £33,001 deficit) was unrestricted, leaving unrestricted reserves carried forward of £63,781 (2020: £8,086). Restricted reserves at 31 March 2021 were £60,993 (2020: £27,244).
## **Reserves Policy**
It is the stated policy of the Trustees to maintain financial reserves equivalent to three months operating expenditure which equates to £99,500 for the financial year (£106,000 at 31 March 2020). At the end of March 2021, unrestricted reserves had increased to £63,781 (2020: £8,086) representing eight weeks of operating costs based on the year’s expenditure. Total restricted funds at 31 March 2021 were £60,993 (2020: £27,244). Given that InSpire has no permanent endowments and relies on many a range of funding to deliver its services, the process of building up this level of unrestricted reserves remains challenging. This trend is now heading in the right direction compared to 2020 but may still take some time.
6
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
## **Risk Management**
As part of their regular monitoring of the charity’s activities, the Trustees constantly review any risks which they consider the organisation may be affected by. The Trustees confirm that the major risks which the charity could be exposed have been reviewed and that systems or procedures have been established to mitigate those possibilities. Key risks at the present time are:
|Policy area||Possible risks||Mitigating actions|
|---|---|---|---|---|
|Reserves|•|Lack of unrestricted funds affecting|•|Link reserves policy to business|
|||response to new needs or requirements||plans, activities alongside financial|
||•|Inability to meet long term commitments||and operating risks|
|||or planned objectives|•|Regularly review reserves policy|
||•|Reputational risk if this policy cannot be||and reserve levels|
|||justified|•|Focus on increasing free reserves|
|||||in business planning objectives|
|Income diversity|•|Sustainable cash flow and budgetary|•|Identify major dependent funders|
|||impact following any loss of income|•|Implement appropriate reserves|
|||||policy|
||||•|Consider diversification options|
||||•|Maintain overview of grant periods|
|||||and possible extensions|
||||•|Review earned income streams,|
|||||especially from room hire, affected|
|||||by adverse economic conditions|
|COVID Pandemic|•|Cash flow and impact with loss of income|•|Identify additional income streams|
||•|Sustainability of key services|•|Adapt core services to enable|
|||||continued support through on-line|
|||||delivery platforms if necessary|
||||•|Risk assess safe options to provide|
|||||continuity of support|
## **Plans for Future**
_Moving into 2021-22 key areas to address include:_
_Fundraising_ – continue to diversify the charity’s income streams to diversify income streams and funding sources. Renew existing longer term fund agreements wherever possible if due to end within next financial year.
_Resource Management_ - maintain long term space and facilities for our ‘2InSpire’ youth group’s activities so that their activities based in The Crypt are sustainable and arrange other venues to provide a range of other indoor and outdoor opportunities. Assess possibility to arrange a residential week away as COVID restrictions ease.
_Organisational Development_ – continuing to develop the charity’s medium term strategy to ensure services can remain sustainable even in adverse circumstances such as the COVID pandemic.
7
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
## **Going Concern and COVID**
Following the UK Government’s legal instructions to close InSpire’s Crypt community centre in March 2020, November 2020 and January 2021, all key support services were adapted to ensure they could be delivered remotely. Staff and Trustee communications continued through electronic and social media to ensure the charity’s core services were actively maintained as far as possible.
The Board of Trustees and Finance Group continued to meet on schedule while arranging additional interim meetings to monitor financial sustainability throughout the pandemic. The charity’s fundraising efforts were stepped up to take advantage of any emergency funding opportunities that became available through number of sources, including some local and national initiatives.
During the financial year, there have been three lockdowns and numerous restrictions on group gatherings which have made room hire reservations only possible for ‘critical support groups’ who could only provide minimal donations. The subsequent loss of room hire income during that time is estimated to total approximately £70,000. A Business Interruption Insurance claim was lodged to offset some of those losses which our insurance company has now settled.
InSpire was also able to receive Business Grant Support from Southwark Council and was successful in bidding for seven emergency COVID support funds. Those financial resources assisted in protecting the community services which we were able to operate safely - and in line with any risk assessments - throughout the financial year.
That so much of our community support could be maintained during the pandemic, even with increased levels of demand, was due to the dedication and enthusiasm of InSpire’s staff.
Looking forward, the Trustees are confident that continued efforts are successfully made to attract any funding required to sustain and continue its range of services. InSpire was able to adapt at pace throughout the lockdown phases so that services could be continued remotely or personally in a COVID safe environment.
InSpire wishes to acknowledge the confidence and support demonstrated by new and existing funders alike who enabled us to provide an exceptional level of continuity during a very challenging year.
## **Structure, governance and management**
## _Governing Document_
The governing document of the organisation is the Memorandum and Articles of Association of InSpire at St Peter’s incorporated as a company limited by guarantee on 27 October 2003 as amended in 2014.
## _Trustees of the charity_
The Directors of the charitable company are its Trustees for the purposes of charity law. The Trustees who served during the last financial year are as follows:
Robert Smeath – Chair Peter Chadwick - Secretary Rev. Alan Wild – Treasurer Lahan Biodun Cllr. Lorraine Lauder Alexandra Loydon Rev. Andrew Moughtin-Mumby Sheila Saunders (Resigned 11 September 2020) Theophilia Shaw Nicholas Weedon
8
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
_Appointment and recruitment of Trustees_
The procedures governing the appointment and recruitment of Trustees are laid down in Articles 29 – 35 of the Articles of Association. The charity takes Trustees drawn from interested members of the local community and volunteers of the charity. The Trustees are also engaged as Directors of the charity’s associated company limited by guarantee.
## _Organisational structure_
The Board of Trustees meets quarterly with the Chief Executive of the charity in attendance ex officio. The day-today operation of InSpire, both strategically and operationally, is the responsibility of Chief Executive Nigel ScottDickeson.
_Key management personnel remuneration policy_
Salaries of key management personnel are set by the Board based on salary reviews, sector market rates and available funding.
_Key support staff during the year_
2InSpire:
Young People’s Programme Manager– Zara Lloyd Senior Youth Worker – Kawthar Talbi Youth Workers – Abeo Sarpei, Andrew Ayree, Samuel Dania, Segun Ogwu,
InSpire Parents: Programme Manager – Sarah Parry Information & Data Co-ordinator – Adeline Addruse
InSpire to Work: Senior Caseworker – Steven Davies
Front of House – Donna Grant
Front of House Support – Geraldine McGuiness, Daniel Fineman, Lauren Harris
Cleaning - Marie Mathurin
## _Related and connected parties_
InSpire continues to work closely with St Peter’s Church, in continuing to deliver services from its location from the Crypt of the Church. Both institutions share a common goal to serve the local community of Walworth, which ranks as one of the most socially deprived neighbourhoods in the UK.
In addition, InSpire maintains strong links with the Southwark Council and many other local or regional voluntary sector groups working across similar service areas, together with local businesses that support the organisation through the provision of services or financial assistance.
9
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
## _Funders_
InSpire would like to thank all our funders and benefactors during 2020-21. This includes, but is not limited to:
Austin & Hope Pilkington Trust BBC Children in Need CAF COVID Resilience Fund Clothworker’s Foundation DCMS COVID Youth Fund Elephant & Castle Community Fund Garfield Weston Foundation Henry Smith Charity L&Q Placemakers Fund Leathersellers’ Company Lloyds Bank Foundation London Community Response National Lottery COVID Fund Notting Hill Genesis St George the Martyr Charity Smallwood Trust Souter Charitable Trust Southwark Council The Fore RAFT Fund United St Saviours
## **Trustee responsibilities**
The Trustees - who are also Directors of InSpire for the purposes of company law - are responsible for preparing the Trustees’ 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 affairs of the charitable company and of incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP 2015 (FRS 102);
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, 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 presume that the charitable company will continue in operation.
10
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **REPORT OF THE TRUSTEES**
The Trustees are responsible for keeping adequate 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 with the Companies Act 2006.
They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Trustees are aware:
- there is no relevant information of which the charitable company’s independent examiner is unaware; and
- the Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
## **On behalf of the Board of Trustees**
## **Robert Smeath Chair**
Date: 27 October 2021
11
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS**
I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2021 which are set out on pages 13 to 24.
## **Responsibilities and basis of report**
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the 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 The Institute of Chartered Accounts England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination, other than that disclosed below, giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.
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 accounts to be reached.
## **M A Wilkes (FCA)**
For and on behalf of Azets Audit Services Greytown House, 221/227 High Street Orpington, Kent, BR6 0NZ
Date: 5 November 2021
12
## **INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
## **INCOME AND EXPENDITURE ACCOUNT**
||**Notes**|||||
|---|---|---|---|---|---|
|||**Unrestricted**|
**Restricted**|**Total**|**Total**|
|||**funds**|**funds**|**2021**|**2020**|
|||**£**|**£**|**£**|**£**|
|**Income from:**||||||
|Donations|**2**|2,963|-|2,963|2,747|
|Charitable activities:||||||
|Grants receivable|**3**|161,179|264,057|425,236|355,901|
|Other:||||||
|Rental income||8,735|-|8,735|73,641|
|HMRC – Job Retention scheme||23,457|-|23,457|-|
|Business Interruption claim||8,248|-|8,248|-|
|||___________|___________|____________|____________|
|**Total income**||204,582|264,057|468,639|432,289|
|||___________|____________|____________|____________|
|**Expenditure on:**||||||
|Raising funds||-|-|-|4,900|
|Charitable activities||169,140|210,055|379,195|497,883|
|||___________|____________|____________|____________|
|**Total expenditure**|**4**|169,140|210,055|379,195|502,793|
|||___________|____________|____________|____________|
|**Net income / (expenditure)**||35,442|54,002|89,444|(70,504)|
|**Transfer between funds**|**13**|20,253|(20,253)|-|-|
|||___________|____________|____________|____________|
|**Net movement in funds**||55,695|33,749|89,444|(70,504)|
|**Funds brought forward at**
**1 April 2020**||8,086|27,244|35,330|105,834|
|||___________|____________|____________|____________|
|**Total funds carried forward at**||||||
|**31 March 2021**||63,781|60,993|124,774|35,330|
|||___________|___________|____________|____________|
All of the charity’s transactions are derived from continuing activities.
The Statement of Financial Activities includes all gains and losses recognised in the year
13
## **INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021**
|**Comparative year information**|**Notes**||||
|---|---|---|---|---|
|**year ended 31 March 2020**||**Unrestricted**|**Restricted**|**Total**|
|||**funds**|**funds**|**2020**|
|||**£**|**£**|**£**|
|**Income from:**|||||
|Donations|**2**|1,997|750|2,747|
|Charitable activities:|||||
|Grants receivable|**3**|10,500|345,401|355,901|
|Other:|||||
|Rental income||73,641|-|73,641|
|||___________|___________|____________|
|**Total income**||86,138|346,151|432,289|
|||___________|____________|____________|
|**Expenditure on:**|||||
|Raising funds||-|4,900|4,900|
|Charitable activities||119,139|378,754|497,883|
|||___________|____________|____________|
|**Total expenditure**|**4**|119,139|383,654|502,793|
|||___________|____________|____________|
|**Net movement in funds**||(33,001)|(37,503)|(70,504)|
|**Funds brought forward at**
**1 April 2019**||41,087|64,747|105,834|
|||___________|____________|____________|
|**Total funds carried forward at**|||||
|**31 March 2020**||8,086|27,244|35,330|
|||___________|___________|____________|
14
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **BALANCE SHEET AS AT 31 MARCH 2021**
## **Company number: 04944794**
|**ompany number: 04944794**|||||||
|---|---|---|---|---|---|---|
||**Note**||**2021**||**2020**||
|||**£**|**£**|**£**||**£**|
|**Fixed Assets**|**10**||19,802|||1,716|
|**Current Assets**|||||||
|Debtors|**11**|12,597||19,699|||
|Cash at bank and in hand||119,558||47,469|||
|||____________||____________|||
|||132,155||67,168|||
|**Creditors:**amounts falling|||||||
|due within one year|**12**|(27,183)||(33,554)|||
|||____________||____________|||
|**Net Current Assets**|||104,972|||33,614|
||||____________||____________||
|**Net Assets**|||124,774|||35,330|
||||||||
||||____________||____________||
|**Represented by:**|||||||
|Restricted funds|**13**||60,993|||27,244|
|Unrestricted funds|||||||
|General fund|||63,781|||8,086|
||||____________||____________||
|Total funds|**14**||124,774|||35,330|
||||____________||____________||
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.
The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for:
- (a) ensuring that the charitable company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
Approved by the Board of Directors on 27 October 2021 and signed on their behalf by:
**Robert Smeath Chair**
15
## **INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **STATEMENT OF CASH FLOWS AS AT 31 MARCH 2021**
|**Notes**
**Cash flow from operating activities**
**18**
**Net cash flow from operating activities**
**Cash flow from investing activities**
Purchase of fixtures, fittings and equipment
**Net cash flow from investing activities**
**Net increase / (decrease) in cash and cash equivalents**
**Cash and cash equivalents at 01 April 2020**
_
**Cash and cash equivalents at 31 March 2021**
**Cash and cash equivalents consists of:**
Cash at bank and in hand
**Cash and cash equivalents at 31 March 2021**|**2021**
**£**
92,793
________________
92,793
________________
(20,704)
________________
(20,704)
________________
72,089
47,469
_______________
119,558
_______________
119,558
________________
119,558
|**2020**
**£**
(70,613)
________________
(70,613)
________________
-
________________
-
________________
(70,613)
118,082
________________
47,469|
|---|---|---|
|||_______________
47,469
________________
47,469
|
16
**INSPIRE AT ST PETER’S (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **1. ACCOUNTING POLICIES**
## **a. Basis of preparation**
InSpire at St Peter’s is a company limited by guarantee in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are set out on page 2.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 (as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015 amended by Update Bulletin 1 & 2.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **b. Income**
All income is included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.
Donations and gifts are included in full in the SOFA when receivable.
The charity receives grants in respect of its activities. Income from grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met then these amounts are deferred.
Other income includes income earned from fundraising events and activities to raise funds for the charity and membership subscriptions. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Investment income is included when receivable.
## **c. Expenditure**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:
- Costs of raising funds are those costs incurred in attracting voluntary income.
- Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
17
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **d. Support costs allocation**
Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.
## **e.**
## **Funds accounting**
Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the Trustees.
Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes. These are set out in note 13.
## **f.**
## **Tangible fixed assets**
Tangible fixed assets are stated at cost less depreciation. Assets costing less than £1,000 are written off in the period of acquisition. All other assets are capitalised.
Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives as follows:
Fixtures, fittings and equipment - 25% straight line
## **g. Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **h. Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
## **i. Corporation Tax**
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
## **j. Going Concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements.
Looking forward, the Trustees are confident that continuous efforts are being made to attract the funding necessary to maintain the growing demands on InSpire’s core services and to follow any budgetary controls required to ensure the charity remains sustainable and able to continue as a going concern.
The Covid pandemic continues to have an impact on some of the charity’s usual sources of income, including room hire reservations which were not possible due to three national lockdowns and the continuous health and social restrictions since March 2020, which are only just starting to ease off. Many of the foundations and other grant providers who could usually be approached for support had either withdrawn or suspended their funding options. However, some of those possible losses were offset due to some very welcome emergency grant funding which became available during the financial year and some additional financial support which was provided by Southwark Council.
18
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **j. Going Concern - continued**
As a result of those additional funds – which were often provided without any restrictions on use – coupled with some savings in overheads, the charity’s unrestricted reserves of £63,781 were a significant improvement of the previous financial year and are now equivalent to 2 months operating expenditure. This position will build a solid base for InSpire’s future sustainability and meet the ever growing demand on our charity’s services in responding to the long term effects of the pandemic on our local communities.
Based on the above the Trustees consider the charity to be a going concern and have prepared the accounts on that basis.
## **k. Operating leases**
Rentals payable under operating leases are charged to the Statement of Financial Activities as incurred over the term of the lease.
## **l. Judgements and key sources of estimation uncertainty**
Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The following judgements (apart from those involving estimates) have been made in the process of applying the above accounting policies that have had the most significant effect on amounts recognised in the financial statements:
## _Useful economic lives of tangible assets_
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount of the fixtures, fittings and equipment, and note f for the useful economic lives for each class of assets.
There are no key assumptions concerning the future and other key 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 financial year.
**2.**
|**Donations**
**Unrestricted**
**Restricted**
Donations
2,963
-
____________
____________
2,963
-
|**2021**
**£**
2,963
____________
2,963
|**2020**
**£**
2,747
____________
2,747
|
|---|---|---|
19
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|**3.**
**GRANTS RECEIVABLE**
Southwark Council
Smallwood Trust
Creation (The New Aylesbury Trust)
Lloyds Bank Foundation
BBC Children In Need
Newington & Gateway JSI
Notting Hill Housing Trust
St George The Martyr Charity
Henry Smith Charitable Foundation
Leathersellers Company
Awards for All
Jack Petchey Foundation
London and Quadrant
LBS Bankside and Walworth Community Council
Charities Aid Foundation
Clothworkers Foundation
Garfield Weston Foundation
L&Q Placemakers
LCF Elephant & Castle Community Fund
Lloyds Bank Foundation
London Community Response Fund
National Lottery Covid Fund
Neighbours Fund Project
Notting Hill Genesis
Souter Charitable Trust
The Austin & Hope Pilkington Trust
The Fore RAFT fund
United St Saviours
4**.**
**EXPENDITURE**
**Staff**
**costs**
**£**
Raising funds
-
Charitable activities:
Inspire community centres
247,500
____________
247,500
|**Unrestricted**
**Restricted**
36,379
52,869
12,131
72,050
-
-
-
-
3,500
29,438
-
-
-
-
-
5,000
-
40,000
10,000
-
-
-
-
-
-
-
-
-
35,000
-
-
10,000
25,000
-
-
3,500
10,000
-
5,971
25,000
11,198
-
10,000
-
-
5,000
-
3,500
2,000
-
-
1,000
-
5,000
-
11,700
____________
____________
161,179
264,057
____________
____________
**Other**
**direct**
**costs**
**£**
**Support**
**costs**
**£**
-
-
64,433
67,262
___________
___________
64,433
67,262
|
**2021**
**£**
89,248
84,181
-
-
32,938
-
-
5,000
40,000
10,000
-
-
-
-
35,000
10,000
25,000
3,500
10,000
30,971
11,198
10,000
5,000
3,500
2,000
1,000
5,000
11,700
____________
425,236
____________
**Total**
**2021**
**£**
-
379,195
___________
379,195
|_
|**2020**
**£**
163,220
42,500
6,930
25,000
28,580
4,290
3,900
9,129
40,000
10,000
8,400
1,500
7,000
5,452
-
-
-
-
-
-
-
-
-
-
-
-
-
-
___________
355,901|
|---|---|---|---|---|
|||||___________
**Total**
**2020**
**£**
4,900
497,893
__________
502,793
|
All costs are allocated between the expenditure categories noted above on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis, being, time spent.
20
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|**5.**
**SUPPORT COSTS**
Rent, rates, insurance and utilities
Printing, postage, stationery and telephone
Property maintenance and cleaning
Bookkeeping, accountancy and payroll admin
IT maintenance and consumables
Staff training and recruitment
Depreciation
Other costs
Governance (note 6)
**6.**
**GOVERNANCE COSTS**
Independent examination
Legal and professional fees
**7.**
**NET INCOME / (EXPENDITURE) FOR THE YEAR**
Net income / (expenditure) is stated after charging:
Independent Examiner’s Fee
Depreciation|**2021**
**£**
20,141
7,697
3,738
10,906
10,346
2,640
2,618
5,283
3,893
_____________
67,262
_____________
**2021**
**£**
3,840
53
_____________
3,893
_____________
**2021**
**£**
3,840
2,618
|**2020**
**£**
42,847
14,232
12,848
12,526
14,617
530
1,661
3,783
3,793
_____________
106,837
_____________
**2020**
**£**
3,780
13
_____________
3,793
_____________
**2020**
**£**
3,780
1,661
|
|---|---|---|
## **8. TRUSTEE REMUNERATION**
No trustees received or waived remuneration for their services in in the year. No trustee was reimbursed expenses (2020: £Nil).
21
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|**9.**
**STAFF COSTS**
Salaries and wages
Social security
Pensions
The average monthly number of employees
during the year was:|**2021**
**£**
228,150
15,187
4,163
_____________
247,500
_____________
15
_____________|**2020**
**£**
210,933
14,871
3,404
_____________
229,208
|
|---|---|---|
|||_____________
11
_____________|
No member of staff earned more than £60,000 during the year (2020: none).
The key management personnel comprise of those listed on page 1. The total remuneration (including employers national insurance and pension contributions) paid to key management personnel was £133,677 (2020: £89,105).
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2020
Additions in the year
At 31 March 2021
**DEPRECIATION**
At 1 April 2020
Charge for the year
At 31 March 2021
**NET BOOK VALUE**
**At 31 March 2021**
At 31 March 2020
**11.**
**DEBTORS**
Room hire
Accrued income
Prepayments and other debtors|**Fixtures,**
**fittings and**
**equipment**
**£**
190,007
20,704
____________
210,711
____________
188,291
2,618
____________
190,909
____________
19,802
____________
1,716
____________
**2021**
**£**
**2020**
**£**
520
13,356
8,248
3,500
3,829
2,843
____________
____________
12,597
19,699
____________
____________|
|---|---|
22
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
|**12.**
**CREDITORS**
Accruals and deferred income
Other taxes and social security
Other creditors
**13.**
**RESTRICTED FUNDS**
**Balance at**
**1.4.2020**
**2021**
**£**
2InSpire Youth Arts and Clubs
5,316
InSpire and 2InSpire Buildings
1,500
Estate Based Work
-
Parenting
12,489
InSpired to Work
7,939
Adult Programme
-
____________
27,244
____________
**Balance at**
**1.4.2019**
**2020**
**£**
2InSpire Youth Arts and Clubs
8,648
InSpire and 2InSpire Buildings
-
Estate Based Work
-
Parenting
8,050
InSpired to Work
20,716
Adult Programme
-
Staff Post Funding
27,333
____________
64,747|**2021**
**£**
21,824
5,041
318
____________
27,183
____________
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
95,754
(81,229)
-
10,253
(1,500)
(10,253)
10,000
-
(10,000)
97,050
(79,765)
-
41,500
(38,061)
-
9,500
(9,500)
-
____________
____________
____________
264,057
(210,055)
(20,253)
____________
____________
____________
**Income**
**Expenditure**
**Transfers**
**£**
**£**
**£**
90,873
(94,205)
-
26,757
(25,257)
-
4,290
(4,290)
-
68,250
(63,811)
-
134,399
(147,176)
-
21,582
(21,582)
-
-
(27,333)
-
____________
____________
____________
346,151
(383,654)
-|**2020**
**£**
28,236
4,350
968
____________
33,554
____________
**Balance at**
**31.3.2021**
**£**
19,841
-
-
29,774
11,378
-
____________
60,993
____________
**Balance at**
**31.3.2020**
**£**
5,316
1,500
-
12,489
7,939
-
-
____________
27,244|
|---|---|---|
- 2InSpire Youth Arts and Clubs – Providing a range of activities and opportunities for young people living in Walworth
- InSpire and 2InSpire Buildings – Supporting the overheard costs estimated to operate the charity’s operating locations and facilities
- Estate Based Work – Providing outreach activities for young people in North Southwark
- Parenting – supporting vulnerable parents and their families in Southwark
- InSpired to Work – Supporting young people aged 16-25 into employment and work-related opportunities
- Adult Programme – Providing a range of activities and skills to older residents living in Walworth including those with mental health conditions and other disabilities
- Staff Post Funding – Supporting the employment costs of a senior management post
Transfers between funds relate to fixed asset purchases that have been capitalised.
23
**INSPIRE AT ST PETER’S LIMITED (A company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|**2021**
Fixed assets
Net current assets
**2020**
Fixed assets
Net current assets|**Restricted**
**Funds**
**Unrestricted**
**Funds**
**£**
**£**
-
19,802
60,993
43,979
____________
____________
60,993
63,781
____________
____________
**Restricted**
**Funds**
**Unrestricted**
**Funds**
**£**
**£**
-
1,716
27,244
6,370
____________
____________
27,244
8,086
|**Total**
**Funds**
**£**
19,802
104,972
____________
124,774
|
|---|---|---|
|||____________
**Total**
**Funds**
**£**
1,716
33,614
____________
35,330
|
## **15. FINANCIAL COMMITMENTS**
At 31 March 2021, the Trust had annual commitments under operating leases, total future minimum finance lease payments are as follows:
|Due within one year
Due in 2 – 5 years|**Land and Buildings**
**2021**
**2020**
**£**
**£**
28,700
28,092
-
780
____________
___________
27,000
28,872
____________
____________|
|---|---|
## **16. COMPANY LIMITED BY GUARANTEE**
The Charity is limited by guarantee and accordingly has no share capital. The liability guaranteed by each member is £10. At 31 March 2021 the membership was twelve (2020: twelve).
## **17. RELATED PARTY TRANSACTIONS**
There are no related party transactions during the year (2020: £Nil).
## **18. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|Net income / (expenditure)
Depreciation
Decrease in debtors
Decrease in creditors
Net cash flow from operating activities|**2021**
**£**
89,444
2,618
7,102
(6,371)
___________
92,793
|**2020**
**£**
(70,504)
1,661
8,412
(10,182)
___________
(70,613)
|
|---|---|---|
24