REGISTERED COMPANY NUMBER: 04941401 (England and Wales) REGISTERED CHARITY NUMBER: 1112667 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 FOR MAIDEN LANE COMMUNITY ENTRE LTD Leroy Reid & Co Chartered Certified A¢wuntants and Statutory Auditors 299 Northborough Road TrJorbury London SW164TR
MAJDEN LANE COMMUNITY CENTRE LTD CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Page Referenee and administrative details Report of the trustees 2 to 11 Independent examlner's report 12 Statement of Ilnanelal aetlvities 13 Statement of flnancial position 14 to 15 Statement ofcash flows 16 Notes to the fiDancial stalements 17 to 25 Detailed statemenl of financial activities 26 to 27
MAIDEN LANE COMMUNITY CENTRE LTD REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES Ms Judith Powell Mr John Cowley Ms Valerie Amajoutt Mr David Sharratt Ms. Marian Larragy Mrs Annabel Rowe (resigned 26.4.23) Mr Andrew Dowell Mr Danny Beal¢s COMPANY SECRETARY Mr Nazrul Islam REGISTERED OFFICE 156 st Paul's Crescent London NWI 9XZ RECISTERED COMPANY NUMBER 04941401 (England and Wales) REGISTERED CHARITY NUMBER 1112667 INDEPENDENT EXAMINER Leroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW16 4TR Page I
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 The members of the Managcmenl Committee, who are also directors of the charity for purpose of the Companies Act, and trustees for the purpose of the Charily Act present their annual report and accounts for the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in Note l of the accounts and comply with the Companies Act 2006 and 'Accounting and Reporting for Charities: Statement of Recommended Practic¢ applicable to charities preparin&i their account5 in accordance with the Financial Reporting Standard applicabl¢ in the UK and th¢ Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objeetives and aims The charity's objects are: To promotc the benefit of the people living, working and studying in the area described as: Bounded by York Way* The Canal and Camley Naturc Park and St. Pancras Hospital, Royal College Street, Camden Road, Cantelowes Gardens and North Point Estatc and to enter into partn¢rships with other voluntary, community and statutory service providers with similar objectives to those of Maiden Lane Community Centrc Ltd., to provide serviccs throughout the Borough of Camden and in adjacent Boroughs without distinclion of sex, sexual orientation or of political opinion, race, colour or creed by associating with local auihorities, voluntary organisations aT)d inhabitants in a common effort to advance educatlon and to provide facililies in the interesls of Ihc social w¢lfar¢ for recreation and l¢isure time occupation wilh the object of improving the conditions of life of the said inhabitants. To establish or to secure the establishm¢nt of a Community Centrc and to mainlain and manage, or to co-operate with any local or statutury authority in the maintenance and managcment of such a Centre for activitics promoted by the Associalion and its constituent bodies in furtherance of the above objccts. The Association shall be non-party in politics and non-sectariaT] in religTOn. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charily should undertake. Publie benefit The Trustees confirni that Maiden Lane Community Centr¢'s activit1¢5 continue to s¢rv¢ the publi¢ benefit by Supporting local residents in one of the most deprived areas of Camden. Through our broad range of s¢rvic¢s, including youth provision, food supporL and educational programmes, wc aim to alleviate the social and economic challenges fac¢d by ihc local community. In line with our charitablc objectives, we ensure that all activities are accessibl¢ lo ihosc in need, regardless of their background, fostering a more inclusive and resilient communily. Volunteers Maiden Lane Community Centre is supported by a large number of volunteers. There is a Volunteering Policy in place that underpins the way the Centre works with volunteers and dctails the benefits of volunt¢cring for both the individual and the Ccntre. All volunteers are given a Volunteer Induction Pack and an induction before they start work with thc Centre. Page 2
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 ACHIEVEMENT AND PERFORMANCE Charitable aetlvities Maiden Lane Community Centre: Supporting a Diverse and Vulnerable Community Maiden Lane Community Centre. 5tratcgically located in the heart of ihe Maiden Lane Estate, serves as a lifeline for over 700 families in one of the top l 00/0 most deprived areas in England. Since its founding in 1983, the Centre has been dedicated to providing essential Services and support to the local community, acting as a vital hub for residents not only on Maiden Lane Estate but also across neighbouring areas, including the Agar Grove, St. Pancra5 Way, Elm Village, and Camden Square Estates. The Centre's reach extends further through its partnerships with local schools, social services, health professionals, and community organisations. We receive a steady flow of referrals from Camdcn Council, social services, schools, GPS, NHS support workers, th¢ Citizens Advice Bureau, Mind in Camden, and various faith and community groups. 'I'hese organisations play a crncial role in identifying individuals and families in need, ensuring that those facing the most siLynificant challenges can access the services and support they require. Maiden Lane is located in an area that grapples with substantial socio-economic challengcs, and whcn comparcd to the broader Camden area. the statistics reflect the stark dispariti¢s fa¢¢d by its r¢sid¢nts. Th¢ neighbourhood ¢ontinues to experience high levels of poverty, unemployment, and social isolation. Key indicators of the socio-economic diffjculties in the area include: 42,20/0 of childrcn living in poverty (Camden average: 360/0), reflecting ihc significant barriers families face in providing for thcir children's necds. 130/0 of workingr_age adults receiving out-of-work benefits (Camden average.. 9.30/0), indicating the challenges in securing stable employment within the community. 41.70/0 of lone parcnts receivingy lonc parent's allowance (Camden avcragc.. 26.8D/o), hibThligihtinb7 thc financial strain on single-parent families who are disproportionately affected by economic hardship. 39.60/0 of older pcople living in deprivation (Camden averabye: 30.8 % ), which 18 a concern for the older population who are particularly vulnerable to isolation, ill-health, and financial insccurity. Thcsc figurcs paint a picturc of a community facing Systemic barriers to upward mobility and access to basic resources. Maiden Lane Community Centrc has been steadfasl in addressing ihcsc challengcs. offcring a rangc oft. serviccs and support that aim to reduce inequality, provide relicf for familics, and offer a sense of hope and conneclion for those living in onc of the most dcprived areas of Camdcn. Malden Lane Pre-school: Supporting Vulnerllble 2-Year-Olds At Maiden Lane Community Centre, we offer a 'free spaccs, Prc-school prograrnmo thai providcs vital support to vulnerable 2-year-olds in our community. Our Pre-school, rated 'GOOD' by Ofsted, offers a high-quality educational experience for children facing significant challenges. Many attcndees comc from houscholds with highcr-than-avcrage child poverty compared to Camdcn, making our support even more ¢riti¢al. To ensure every child ihrives, we provide healthy, nutritious hot lunches and snacks Sourced from a variety of cultures. This not only supports healthy eating but also introduces children to divcrse cuisine5, fosicring cultural awarcness. Our Pre-school offers more than ¢du¢ation-it provides a saf¢, stimulaling environmcnl where childrcn can explorc, play, socialisc, and develop ¢ssential life skills. Through both structured activities and free play, children gain confidence, resilience. and curiosity. Thesc early years are crucial for Setting the foundation for success, and by offering free spaces, we ensure children in our community have the best start. We are committed to making a meaningful impact on local children's lives. Our Pre-school provides ljot only care but also d¢velopmental sUPPOrt, helping break the rycl¢ of poverty and set children on a brighter future. This foundation is essential for success both academically and Socially, setting them on a path to lifelong achievement. Maiden Lane Junior Club: Positive Activities for Children and Young People The Maiden Lane Junior Club remain5 an essential resource for children aged 5-1 O in our community. We offer weekly terni-timc scssions and a school holiday programme with fun club days and organised trips. Activities include sports, arts and crafts, family cooking, and initiatives promoting healthy eating and well-being. Page 3
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 As one of the few funded projects in Camden for under-los, our Junior Club plays a crucial role in supporting children's positive dcveloptnent. For many local children, il's a space to forni friendships, build life skills, and develop a sense of belonging. Our programme nurtures social skills, creativity, and teamwork, which are vital for both personal and academic growth. The Junior Club is an inclusive environm¢nt wher¢ all childr¢n, regardle55 of background, feel supported. Whcther engaging in sports, creative arts. or cooking, the activities we offer help children develop resilience, improve social connections, and discov¢r lifelong intercsts. The Club also offers families a safe space for their children to grow in a supportive environment. Par¢nts can have peace of mind, knowing their children aTe actively engaged in positive activities that foster both academic and social development. Through the Junior Club, we not only enrich children's lives but also strengihen our communily, empowcring young people to lead healthy, fulfilling lives and benefit from a thriving, connected environment. Maiden Lane Youth Club: Engagin% Older Young People The Maiden l.ane Youth Club, funded by LB Camden, provides weekly sessions throughout the year, offering a variety of activities such as sports. arts. cooking, and acLess to Maiden Lan¢'s state-of-the-art music studio. Th¢se activities help young people develop skills, build friendships, and discover new interests in a safe environment. We off¢r both Boys, and Girls, Groups, providing gender-specific activities that promote self-expression, confidence, and leadership. Our youth workers play a key role in supporting local young people, particularly those at risk in Camden Square Ward. As tensions in thc local area increased, we provided older youth with access to the music studio outside of regular Youlh Club sessions. This allowed them to collaboratc, create music, and engag¢ in positiv¢, creatlvc activities. The music studio became a vital space for older youth to ¢xpre$s themselves and build 5elf-esteem through music. It provided an alternalive to negative behaviours and offered a constructive outlet for their ¢reativity, Our youth workers a150 offer mentorship, helping young pcople navigate challenges and connect with opportunities. By building trust and offering guidance, they help youth address personal issues. explore educational and career options, and make positive choiccs. 'I'hrough these efforts, we provide a space where young people can thrive, building resilience and life skills. Our Youth Club continues to be a kcy resource in the community, helping young peoplc gwrow and succccd. GLA Young Londoners Grant: Girls GLOW Project Maiden Lanc Community Centre was awarded four-year funding from the Greater l.ondon Authority (Gl.A) to support Girls GLOW - a project designed to empower young women living on Camden's social housing estates who face exclusion, arc involved in criminal activity, or are at high risk of becoming involved. Our res¢ar¢h revealed that these young wom¢n were in need of a space to meet, build skills, engage in activities they enjoy, and receivc support from trustcd youth workers. Girls GLOW - which stand5 for Gel Lots of Wisdom" provides young women with essential life skills and Ihe tools they need to navigate and thrive as they transition into adolcscence and adulthood. The project's focus is on enhancing confidence and self-esteern, with activities designed to encourage discussions about image, identity, hopes, dreams, and emotional and social wcllbeing. We use creative methods such as music, media, vid¢ography, and other inleracliv¢ tools to engage participants. This initiative provides a safe and supportive envimnmenl where young women can express themselves authentically. Wc work with youngF women aged l O to 18, and many continue to seek support from us even after they graduate from the programme. This ongoing support often includes assistance with job applications, or advice on college and university applications, helping them to further their education and career goals. Page 4
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FnR THF. YEAR ENDED 31ST MARCH 2024 10-Teen Project and Maiden Lane Street Team: Supporting At-Risk Young People Through Transition Funded by the LB Camden Cornrnunity Impact Levy. our 10-Tcen Project provides cssential support lo young pcople aged 10-13 during their critical transition years. The projcct aims to help them navigate this challenging slage of life, equipping them with the skills and resilience nccded for the years ahead. Weekly youth sessions were held across both the Maiden Lane and St. Pancras Way Estat¢s, complcmented by school holiday activities. These sessions were designed to engage younb people in positive, slructured activities while fosterin&y a sense of community and belonging. An integral component of this work is the Maiden Lane Street Team. which directly ¢ngag¢s at-risk youth in their communities, offering support and guidance to ihose mosl vulnerable. Operating across Maiden Lane and St. Pancras Way Estates in Camdcn Square Ward, the Street Team focuses on young pcople at risk of gang involvcment, anti-social behaviour, or thosc alrcady impacted by theK issues. Youth workers are a constant presence on the streets and estates, offering positivc role models and delivering key messages about safe behaviour, respect, and communiiy involvcmcnl. Through this work, we not only support young people in crisis but also encourage thetn to participate in the many youth programmes we offer at Maiden Lane. This approach has proven SucsSfUl, with increased participation from young people who now actively contribute lo various activities. This engagement not only keeps them out of harni's way but also provides them with opporNnities to develop ¢ss¢ntial lif¢ skills. Looking ahead, we are comrnill¢d to strengthening our cfforts by expanding our collaboration with local schools and engaging more closely with young people who are particularly vulnerable, including those identified by Youth Offending services. Our goal is to continuc providing a safe, 5UPPOrtivc cnvironment where younb people can thrive and make p05ltivc decisions about their future. Summer Hollday Programmes for Children And Young People Maiden Lanc Community Centre delivcrs a comprehensive summcr programmc d¢5igncd to cngage childrcn and young people of all ages, with part-funding from the Camden Holiday Activities and Food (HAF) Programme. a Department for Education initiative. This 4-wcek summer programmc is specifically tailored to provide children and young people who are eligiblc for Free School Meals with free access to a wide range of enriching activilics alongsidc a nulritious mcal ¢ach day, ensuring both thcir physical and Cmolional wcll-being throughout the summer break. The activities on offcr w¢r¢ diver5¢ and dcsigned to engage different interests, promote creativity, and encourage physical actlvlty. These included DJ and Music Production, Music Sludio Scssions, Drama Classcs, T-shirt Making, Cinema Trips, Multi-sports (football, basketball, etc.), Boat Trips, Mountain Biking, Bowling, Kayaking, and Emiraies Cable Car ride. The programme not only providcd a fun and dynamic rang¢ of activities but also ensured that every participant received at leasl one healthy meal pcr day, promoting h¢alihier eating habits and contributing to the overall well-being of the hildren. 'The emphasis on healthy, nutritious meals, which included frcsh fruit, vegetables, and balanc¢d options, was particularly important a5 It helped to combat food insecurity during the summer months. At the end of the programme, many parents expressed their deep gratitude for the relief the summer scheme provided, particularly in light of the rising cost of livinL. Families shared how the prograrnme helped alleviate the financial burden of preparing lunches each day. For many, this meant significanl savings, especially as they werc facing ongoing financial challenges. Beyond just otTcring activities and meals, Ihe programme gav¢ parents peace of mind, knowing their children wcre engaged, safe, and enjoying themselves in a positivc environment. Summer Residential for Young People The Summer Residential prograrnme provided an incredible opportunity for young people to participate in outdoor activities, build teamwork skills, and take on leadership roles. Focused on physical activities, the resideT]tial allowed participants to engage in a range of exciting challenges designed to improve both their physical fitness and mental well-being. Activities included Archery, High Rope5, Tree Top Trdil. Low Ropes, Adventure Course. Forest Adventure. Kayaking, Cano¢ing. Raft Building and Orienteering. Page 5
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FnR T_H_F Y!.A_R FNDED 31ST MARCH 2024 In addition to increasing physical activity, the programme offered young people the chance to devclop a variety of essential life ski115, including leadership, resilience, comlnunication, teamwork, confidence, and self-awareness. The residential experience not only encourdged young people to get more active but also provided them with a unique opportunity to step outside their comfort zones. Many of the participanls had never had the chance to go away from home or experience a holiday, making this programme an invaluablc life experience that helped to foster independence and personal growth. Maiden Lane Food Bank The Maiden Lane Food Bank is a vital resourcc supporting Camden's m05t vulnerablc residents. Our mission is to protcct those at risk from hunger and help food-insecure families achieve their nutritional and health goals with dignity. By providing emergency food relief and sUPPOrt services. we aim to empower individuals and families, giving thcm the roundation to rebuild and regain stability. We rec¢ive referrals from Camden Council, Social Services, Housing Scrviccs, Citizens Advice Bureau, Jobcentre Plus, local community Orglsa110ns, faith groups, Mind in Camden, schools, and self-referrals. This broad network ensures that we rcach those in nee(L including families struggling with unemployment, health issues, or economic deprivation. Our food parcels are tailorcd to meet the diverse needs of our community, includingF BAME families, such as Somali and Bangladeshi residenls, ensuring cultural and dietary preferences are respected. This approach fosters inclusivity and trust, enabling us to supwrt a broad sp¢ctrum of people, regardlcss of their background or circumstances. In addition, we provide support to those who are socially isolated, such as older residents and individuals expcri¢ncing mcntal health challenges. Many of these individuals face barricrs to accessing food and services, so we offer regular deliveries to ensure I'hey don't go without. As demand for our services has increased, particularly post-pandemic, we've expandcd our volunteer network, allowing us to dcliver food and esscnlials more eificicntly. Volunteers play a ccnlral role in sorting, packing. and delivering parcels, and through their dedication, we can reach more families across Camden. The Maiden Lanv Food Bank is more than just a provider of food - it is a community-driven initiative that fosters rcsilien¢¢ and solidarity. Through collaboration and Compassionate care, we help ensure that vulnerable residents have access to the support they need to thriv¢. Information, Advicc and Guldgnee (Employability and Finanelal Capablllty) In addition to our food bank s¢rvices, Maiden Lanc Community Centre provides Infornlalion, Advicc, and Guidance (IAG) lo support local rcsidents in improving their employrnent prospects. This includes job search support, CV writing, interview preparatton, and application assistance, helping individuals overcome barriers lo employment and brcak the cycle of poverty. We also offer financial capabilily services, providing money management training to help pcople improve thcir financial literacy and stability. These services arc available both in-person and remotely, ensuring we arc able to reach and support those who need it most. Sewing Classes In partnership with the Working Men's College, Maiden Lane Community Centre offers a serics of sewing classes during terni time that havc become an integral part of our communily outreach efforts. These classes are especially valued by residents, particularly women from BAME communitics, as they provide not only a valuable skill set but also a space for social connection and empowern]ent. For many participants, these classes servc as an opportunity to learn the craft of sewing, which can open doors to personal crcativity, new hobbies. and even potcntial income generation. But perhaps more importantly. the classes foster a strong sense of belonging and community. As many of the attendees ale from marginalised backgrounds. these sessions provide a safe. inclusivc ¢nvironment wherc individuals can com¢ tog¢th¢r, support on¢ anoth¢r, and build relalionship5. Page 6
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR F.]YDED 31ST MARCH 2024 Participants often meet outside the classes to share meals, stories, and life ¢xperi¢nc¢s, creating a network of support that extends beyond the classroom. This sense of camaraderie is invaluable in a community where many individuals face challenges related to isolation or economic hardship. Aelivities for Older People Supporting older residents is a priority for Maiden Lane Community Centre, and we are proud to provide a range of activities specifically designed to address the needs of this often-overlooked demographic. Social isolation and loneliness are significant issues facing older people, especially since the wake of the COVID-19 pandemic, and our programs aim to combat these challenges while also promoting mental and physical well-being. One of the most cherished initiatives is the Camden Shed, a project run entirely by volunteers that provides a dedicated space for older men to en8age in DIY, woodwork, ceramics, and pottery. These hands-on activities not only help individuals remain active and physically engaged but also provide a sense of accornplishment and purpose. The Shed offers a platforni for men to connect, share skills. and ¢ollaboralc on projccts, all of which are integral in tackling fe¢lings of isolation and fostering a sens¢ of community. Addilionally, older women ar¢ welcome to participate in weekly sessions, which include a varicty of creative and social activities. Thi5 providcs an opportunity for them to engage in aclivities Ihat promote mcntal stimulation, self-expression, and social int¢raction. Maiden l.ane also fund5 weekly Tea/Coffee morning5 for old¢r residents in partnership with the TRA, offering another vital opportunity for people to come together, share convcrsations. and enjoy a cup of tea in a relaxed setting. These infonnal gatherings are particularly important in rcducing the sense of loneliness that can often come with aging, particularly for those livin&y alone or with limilcd mobility. The post-pandemic landscap¢ has highlighted a gyrowing need for activities that support oldcr pcoplc's mental health and well-bcing, and we havc secn an increased dcmand for social interaction opportunities. Wc are commilted to expanding thc8e services to ensure that older residcnls feel connected, valucd, and suppnrted in their communities. Our ongoing fundraising efforts will focus on creating additional opportunities for physical activity, socialising, and engagement to furthcr alleviate isolation and promote a hcallhy, active lifestyle for oldcr adults. Through these programs, Maiden Lane Community Centrc is making a tangible impact on the lives of older residents, providing them with the re50urcc5 and support they nced io lead fulfilling and independent lives. 'fhe positive outcomes of these initiatives are evidcnt in the connections made, the skills developed, and the enhanccd mental and physical health of thos¢ involvcd. Eslate-Ba8ed Work 8nd Collaboration wilh Ihe TRA Ai Maiden l.ane Community Centre, wc recognise the importancc of strong partnerships with locul community groups, and our collaboration with the Maiden Lane .1 enants and Residenls Association (I'RA) plays a central role in enhancing the community spirit and wcll-being of residenls. This partnership allows us to support initiatives and events that directly respond to thc needs and aspiration5 of the people living in the area, ensuring that lo¢al voiccs arc h¢ard and that projccts are developed with community input and ownership. Throughout the year, Maiden Lanc Community Centre has b¢en proud to support the TRA in delivering a range of comtnunity events and initiativcs that bring people together, foster a sense of belonging, and promote social cohesion. Thes¢ events include.. Maiden Lane Estates Firework5 Display: A community celebration that brings families together to enjoy a safe, fun event with food and drinks, prornoting social interaction and community engagement. Halloween F.vent for Local Children.. Providing a safe and enjoyable space for young people to Celebrate, promoting inclusivity and off¢ring a positive alternative to other activities. Page 7
M_A!DF.N I.ANF. COMMUNITY CEIYTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Winter Hampers for Older People: These hampers, which include food, treats, blankets, wam socks, and slippers, are an essential gesture to combat loneliness and ensure that older residents feel valued and cared for during the winter months. lknis initiative highlights thc importance of 5UPPOrting the elderly, particularly in a post-pandemic environment where social isolation remains a k¢y challenge. Our collaboration with the Maiden Lane TRA is essential in creating sustainable. community-driven solutions. By empowering local pcople to take the lead on projects ihat matter most lo them, w¢ enable them to contribute to the developm¢nl of their own neighbourhoods. This strengthens the fabric of the community, ensuring that local initiativcs reflect ihe diverse nceds and interests of residents. Maiden Lane Social Enterprise: Grounds Maintenance on Maiden Lane Estate One of our flagship initiatives thai demonstrates our commitment to local employment. environmental suslainability, and community developmcnt is the Maiden Lane Social Enterprise. Through this project. Maiden Lane Community Centre Ltd manages the grounds maintcnance for the Maiden Lane Estat¢. Th¢ inilialivc 15 designed not only to ¢nhanc¢ the aesihetic appeal of the cslate but also to provide valuable employment and training opportunities for local people. The project focuscs on: Employment and Skills Development.. The social entcrprise directly employs local residenls, offering them the OprtUn11Y to gain hands-on experience in landscaping, horticulture, and grounds maintenance. This approach ensures Ihat community members arc empowered with practical skills that cnhanc¢ th¢ir employability and ¢arccr prospecls. It also fosters a sense of pride and ownership over the green spaces in the area. Environmental Awareness: By caring for the estate's trec5. shrubs, and grcen areas, the project PTomot¢s environmental consciousness among local residents. It raiscs awarencss about the importancc of maintaining green spaccs for thc well-being of the community, enhancing local biodiversity, and promoting sustainable living practices. Through this, we aim to cultivate a sense of environmenlal slewardship in rcsidcnls of all aL)CS. Communily Engagement: The social enterprise is not only about grounds maintenance. it also plays a vital role in building community spiril. Additionally, thc project helps to improve the overall quality of life on the estate, as well-maintained outdoor spaces are key to enhancing physical and mental well-being. Through this social enterprise, Maiden Lane Community Centre has been able to make a tangible impact on both the local economy and the environment, providing long-tenn social value to the community. It's an excellent example of how sustainable, locally-driven projects can create both economic opportunitics and a positive environmental impact, while strengthening community bonds. Support for Vulnerable Chlldren and Young People in Response to the Cost-of-Living Crisis Maiden Lanc Community Ccntre was committed to addressing the rising challenges faced by local families due to the ongoing cost of living crisis. Our initiatives were designed to 5UPPOrt vulnerable children and young people, ensuring they had acce55 to essential resources, opportunities, and a safe environment to thrive. Wc cxpand¢d our Food Bank services to specifically meet the needs of children and young people. By purchasing essential items nol covered by our usual food supplies from ihc folix Projccl and Sainsbury's, wc were able to ensure that familics, particularly those with young children. received nutritious food and other essential items to alleviate food insecurity. This expansion helped fill a crucial gap in services for families struggyling to make ends meet. Additionally, we provided warni meals for young people accessing our youth provision four nights a week. These meals were vital in supporting the health and well-being of children and young people after school and youth activity sessions, ensuring they had nutritious food to sustain them. This initiative not only helped combat food poverty but also fostered a sense of community and care, making a meaningful difference in the lives of young people. Page 8
MA!nF.N I.ANF COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2024 Recognising that clothing poverty was a growing concern, particularly for young people at risk of social exclusion, we provided clothing vouchers to cnsure children and young people had access to appropriate winter clothing. This intervention directly addressed the issue of yotAng people being excluded or engaging in criminal activity due to lack of proper clothing, while promoting their digntty, self-worth, and mental well-being. By meeting this basic need, we helpcd young people feel more confident and valued, reducing the likelihood of social isolation or involvement in anti-social behaviour. Together, these initiative5 reflected our ongoin&y cornmitment to tackling the 50cio-economic chall¢nges faced by the m05t vulnerable in our community, ensuring that children and young people had the resources they needed to grow, thrive, and contribute positively to society. FINANCIAL REVIEW Finvdneial position Trustees arc satisfied with the financial perfonnance of the charity, and this is on pages 14 and 15 of these accounts. The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. Reseryeg policy The truslees have adopted the Charity Commission's guidance in setting a rcsorve policy which is based on realistic assessments of the needs for the Charity to hold reserves. This policy takcs into account the needs of the Charity to plan for contingencies and to protect both its staff and its clients from any unforesecn adverse circumslan¢cs. MLCC will aim to maintain operating reserves cquivalent to at least three months of operating expcnses. FUTURE PLANS Looking ahead, Maiden l.ane Community Centre remains committed to expanding its reach and impact. We plan tu enhance our youth programmcs, continue supporting families with essential food and resources, and grow our partnerships with local organisation5 to address the evolving nceds of our community. We will explore additional funding opportunities to enable lurther development of our services, particularly in th¢ ar¢a5 of mental health suppo social inclusion, and educational outreach. STRUCTURE, GOVERNANCE AND MANAGEMF.NT Governing document 'rhe charity is controllcd by its governing document, a deed of trust, and constituLcs a limited company) limitcd by guarantee, as defined by the Companies Act 2006. The governing document of the Charity is the Memorandum and Articles of Association. Under the requirements of the Memorandum and Articles of Association, one-third of the members of the Council for the timc being, or if Ih¢ir number is not a multiple of three then the number nearest to one-third shall retire from office at the AGM. Notice must be given in writing by a member of the Charity duly qualified to be present and vote at the meeting, of herlhis intention to propose a person for election and also notice in writing, signed by the person to be proposed, of herthis willingness to be elected, not less than four nor more than twenty-eight Intervening days before the AGM. Page 9
MAIDEN LANE COMMUNITY CENTRE LTD REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The organisation is a charitable company limited by guarantee incorporated on 23rd October 2003 and reglistered as a charity on 10 January 2006. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed und¢r its Articles of As50ciation. Maiden Lane Community Centrc has nine DirectorslTrustees who meet regularly throughout the year. The Trustees are responsible for the strategic direction and policy of the charity and compliance. The Secretary attends the Commiilee meetings but has no votinby righls. The Trustees, who are also the directors for the purposc of company law and who served durin¥ the year were: Judy Powell John Cowley Valerie Amajoutt David Sharratt Marian Larragy Annabel Rowe Andrew Dowell Danny Beales Due to the nature of the charity'5 work the I'rustecs s¢¢k to ensure that the needs of all beneficiaries of the charity are represented amongst their membership. The charily> therefore, has a Trustee's Electionlco-option Policy. Decision making and Servlce Dellvery The Directorsfi"rustCC8 are responsible for strategic decision making, A scheme of dclegation is in placc and day to day responsibility for the delivery of services rests with the Centre's Director of Strategy and of Opcralions and the slarr team. The Director is responsible for ensuring that the charity delivers the services specified and thal Quality standards arc maintained. All Members of staff have a rolc in thc day-to-day operations management of the Centre and ensuring that the Health and Safety and Safeguarding Policies are adhered to at all times. The Community Centre Dircctor supervises members of the staff tearn and ensures that members of ihc tcam continue to devclop their skills and working pra¢tlCe5. New trustees are invited to attend training sesstons organised by Volunlary Action Camden if they want lo gain further insighl Into specific aspccts of manabying a charity, I'he charity's Mcmorandum and Articles call for ihc charity to Co-operate with statutory authorities, voluntary and community organisations to achieve its objectives. Maiden Lane Community Centre maintains close working relalionships with LB Camden. Camden Youth Service, and Camden's Childrcn Schoo15 and Families Department, Camden Community Safety I'eam, the Safer Neighbourhood Team. NHS, Camden Community Ccntres Consortium and othcr voluntary and community organisations. We have also establishcd working relationships with a numb¢r of corporate bodies. Risk management The Trustees are mindful of the risks associated with our activities and continue to monitor these closely. Key risks include funding volatility and the potential impact of external economic pressures on the communities we serve. To mitigate these risks, we have implemenled a robust risk management framework, including regular reviews of financial perforniance, contingency planning, and diversified income streams. Additionally> we maintain close relationships with key stakeholders and funders to ensure the sustainability of our operations. Safeguarding The safety and well-being of all individuals. particularly children and vulnerable adults, are of paramount importance to the Trustees. Wc have clear 5afegFuarding policies in place and conduct regular training for staff and volunteers to ensure compliance with best practic¢ standards. The Centre maintain5 a safeguarding lead and robust reporting procedurcs to promptly address any concerns. ¢nsuring a safe environment for all participants in our programmes. Page 10
MAIDEN LAN com ITY CENTRC LTD REPORT ofTHE TRUSTEES FOR TIIE YEAR EN KD 31ST MARCH 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES Tlie trusiees (wlio are also tli¢ directors of Maiden Lane Community Cenlr¢ Ltd for thc purposes of ¢ompaiiy law) are responsible for preparing the Report of the trustees and the financial statements iIi accordance with applic&ble law and United Kingdom Accounting StRnd8rds (United Kingdom Generally Accepted Accouniing Prnctice) including Finle1a1 Reporting Standard 102 "The Financial Reporting Sthndard applicable in ihe UK and Republic of Ireland" Comp8ny law requires the tTUStes lo pr¢p8re finan¢ia] statements for financial year which give a true and fair vi¢w of the slate of affair5 of ihe ¢hariiabl¢ company llnd" of the incoming resources and applic8tion of resourc¢& including the in¢ome and expendiiure. of the charitable company for that period. In prep¥ring ihose financial statements, the trustees are required to select suitable ac¢ounting policies and then apply them conslstently• observe the methods and prin¢iples in the Charity SORP. make judgements and estimates that are reasonable and pNd¢nt' prepare the financial statements on the going concern basi9 unless it is inappropriate to presume that the charitable company will conlinue in business. The trus(ees are responsible for keeping proper accounting records which disclose with Teasonable accuracy at Any time the financial position of the charitable Company and to enable them to ensure that Ihe financial $14tements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charlble conipany and henc¢ for taking reasonabl¢ steps for th¢ prevention and detection of fraud 8nd other irregularities. This r¢port has been pr¢parcd in aceordonct with the special provisions of Part I S of the Companies Act 2006 relaiing to small rovnpanies. Approved by order of the board of trustees on .... and signed on its behalf by: Ms Judith Powcll - Trustee Pag¢ 11
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MAIDEN LANE COMMUNITY CENTRE LTD Independent examiner's report to the trustees of Maiden Lane Community Centre Ltd ('the Company,) I report lo the charity trustees on my examination of the accounts of the Company for the year ended 31 st March 2024. Responsibilities basis of report As the charity's twstees of the Company (and also its directors for the purposes of company law) you are responsible for the preparalion 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 rcspecl of my examination of your charity's accounls as Caled out under Section 145 of th¢ Charities Acl 2011 ('th¢ 201 l Act,). In carrying out my cxaminalion I hav¢ follow¢d the Directions given by the Charity Comrnission under Section 145(5) (b) of the 2011 Act. Ind¢pcndent examiner's statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confim] that l am qualified to undertake the examinalion because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of th¢ 2006 Act. or the accounts do not accord with those records. or thc accounts do not comply with the a¢countingy requiremenls of Section 396 of the 2006 Act other than any requirement that the arxounts give a true and fair view which is not a matter considered as part of an independent examination. or the accounts have not been preparcd in accordance with the methods and principles of thc Statement of Recommended Practice for accounting and reporting by charlties (applicable lo charities prcparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I havc no concern5 and havc come across no other matters in connection with the examination to which attention should bc drawn in this report in order to enable a proper understanding of the accounts to bc rcached. Eben¢Ler Okai, BSC, FCCA The Association of Chartered Certified Accountants Leroy Reid & Co Chartered Certified Accountants and Statutory Auditors 299 Northborough Road Norbury London SW164TR Page 12
MAIDEN LANE COMMUNITY CENTRE LTD STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING AN INCOMF. AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds UnrestrietedRestricted fund fund Nol¢s INCOME AND ENDOWMENTS FROM Donation5 and legacies 241,370 43,334 284,704 313,616 Charitable activities Community centre and play5ch¢me 15,3 Other trading activities Investment income 22,997 521 22,997 521 15.765 102 Total 264,888 43,334 308,222 344.783 EXPENDITURE ON CharltAble aetivitie8 Community ccntrc and playscherne 315,602 43,334 358,936 344,215 NET INCOME/(EXPENDITURE) Tran5fer5 between fund5 (50.714) (50,714) 568 17 67716) Nel movement In funds 17,002 (67,716) (50,714) 568 RECONCILIATION OF FUNDS Total funds brought forward 92,889 67,716 160,605 160,037 TOTAL FUNDS CARRIED FORWARD 109 891 109,891 160,605 The notes forni part of these financial statements Page 13
MAIDEN LANE COMMUNITY CENTRE LTD STATEMENT OF FINANCIAL POSITION 31ST MARCH 2024 2024 2023 Notes FIXED ASSETS Tangible assets 12 5,324 7,283 CURRENT ASSETS Debtors Cash at bank 13 31,627 83,403 71,525 108,628 115,030 180,153 CREDITORS Amounts falling due within one year 14 (10,463) (10,497) NET CURRENT ASSETS 104 567 169 656 TOTAL ASSETS LESS CURRENT LIABILITIES 109,891 176,939 ACCRUALS AND DEFERRED INCOME 15 (16,334) NET ASSETS 109 891 160605 FUNDS Unrestricted funds Restrictcd funds 17 109,891 92,889 TOTAL FUNDS 109891 160 605 The charitablc company is entitled to exemption from audit under Section 477 of th¢ Companies Act 2006 for the year ended 31 st March 2024. Thc members have not required the company to obtain an audit of its financial statements for the year ended 31 st March 2024 in accordan¢¢ with S¢ction 476 of th¢ Compani¢s Act 2006, The trust¢es acknowledge their rcsponsibilities for (a) ensuring that the charitable company kecps accounting records that comply with Sections 386 and 387 of the Cotnpanies Act 2006 and preparing financial statcments 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 deficlt for each finanrial year in accordance wlth the requirements of Section5 394 and 395 and which otherwise comply with the r¢quirements of the Companies Act 2006 relating to financial statements, 50 far as applicable to the charitable company. (b) The note5 forn] part of these financial statements Page 14 continued...
IDEN LANE COM UNITY CEKfRE LTD STATEMENT OF fiNANCIAL POSI 31s"r M,iRCH 2024 ION - eontinued fin&n¢iai statements have beth prepored in ae£ordanL* with the Provisions applicable to charltable ¢omp4tiies 8ubject to the small companies re8ime. Tho finan¢iAI gt4t¢ments were &pproved by the Board of TNst¢¢s and athorisod for is8uo on .. and were signed on its behalf by: s Judith Powell Trustee Th¢ notes ft?mi part of these finon¢lal statements Pagp 15
MAIDEN LANE COMMUNITY CENTRE LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 Note8 Cash flows from operating activities Cash generated from operations 19 25 746) 20 727) Net cash used in operating activities 25 746) Cash flows from investing activities Purchase of tangible fixed assets Int¢r¢st r¢c¢iv¢d (6.000) 102 521 N¢t c&sh provided by/(used in) investing activities 521 5,898) Change In cash and eash equlvalents in the reporting period Cash and cash equivhlents al the beginning ofthe reportlng period (25,225) (26,625) 108 628 135253 Cash fdnd eash equivalent5 at the end of the reporting period 108,628 The notes forni part of these financial statements Page 16
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charilies: 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) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The flnancial statements have been prepared under the historical cost convention. INCOME All income is recognised in the Statement of Financial A¢tiviti¢s once the charity has entitlement to the funds, il is probable that th¢ income will be received and the amount be measured reliably. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that ¢xp¢nditure, it is probable that a transfer of economic bencfits will be required in settlem¢nt and the amount of Ihe oblig>ation can bc mcasured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings ihat aggyregalc all cost relatcd io thc calcgory. Whcre costs cannot be directly attributed to particular headings ihey have been allocated to activities on a basis consistent with the use of resources. TANGIBLE FIXED ASSETS Depreciation is provided at the following annual rates in order to write off each assct over its estimated useful life. Plant and machinery Fixtures and fittings Computer equipment 33 % on cost 200/0 on cost 250/0 on reducing balance TAXATIO lThe charity is cxempt from corporation tax on its charitable activities. FUND ACCOUNTING Unrestricled funds can be used in accordance wilh thc charitable objcctivcs at thc discretion of the trustees. Restricted funds can only be used for particular restricted pUoseS within the objects of the charity. Restrictions arise when spccifi¢d by the donor or wh¢n funds ar¢ raised for particular r¢strict¢d pury)05¢5. Further explanation of thc nature and purpose of each nd is included in the notes to the financial statements. PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS The charitabl¢ company operates a defined contribution pcnsion scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial A¢tivitie5 in the period to which they relate. Page 17 ontinued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED JIST MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations L.B Camden - Youth Service Grant LB Camden Strat¢gic Parts]er Maiden Lane Estate S106 Contribution L.B Camden- Early Years Free Entitlement L.B Camden - Recovery Grant Young Camden Foundation Camden Giving Greater London Authority The J H Rausing Trust LB Camden - cost of living CIL Street Team CAF - Make Moves Fund 12,036 15,000 85,000 2,864 18,000 85,000 61,950 56,669 22,000 3,882 7,408 38,348 48,191 27,499 21,140 12.000 16,334 7,500 20,004 17,495 313.616 OTHER TRADING ACTIVITIES 2024 2023 Hall hire Children's fees 13,155 10,645 INVESTMENT INCOME 2024 2023 Deposit account interest 521 102 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Aetlvlty LB Camden Grounds Maintenance Community centre and playscheme Page 18 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMEIYTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 CHARITABLE ACTIVITIES COSTS Direct Costs (see note 7) Support eosts (see note 8) Totals Community centre and playscheme 358510 426 358 936 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff costs Business rates & wat¢r rates Insurance Light & heat Printing, stationcry and telephone Centre aclivities Repairs & maintenance Maiden Lane Pre-school expenses Pre-school equipment Subscription & DBS check Audit fees Professional services Training Bank charges Food Bank Girls Glow Costs Youth Expenses Miscellaneous Expenses Security Costs S106 Grant Small equipment purchases HAF expenditure Community support grant Motor expenses Depreciatlon 282,150 1,126 3,639 15,776 3,699 275,063 2,202 3,796 13,022 6,776 288 2.851 1,888 410 972 4,800 285 677 2,477 2,965 866 1,199 4,032 14,819 487 151 1,963 2,387 970 5,999 1,336 2,144 1,000 5,504 ,410 5,648 394 3,466 1,078 6,459 120 5,585 5,005 1,862 358510 344215 Page 19 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 SUPPORT COSTS Managemen Community centre and playscheme 426 Support costs, included in the above, are as follows: 2024 Community centre and playscheme 2023 Total actlvities Advertising 426 NET INCOMEI(EXPENDITURE) N¢t in¢omel(expenditure) is stated after chargingl(crediting): 2024 2023 Depreciation - owned assets io. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 3 1st March 2024 nor for the year ended 3 1st March 2023. TRUSTEES, EXPENSES There were no 31st March 2023. trustees, expenses paid for the year ended 315tMarch2024 nor for the year ended STAFF COSTS 2024 2023 Wages and salaries Social security costs Other pension costs 258,354 13,416 251,933 13,347 282 150 275 063 The average monthly number of employees during the year was as follows: 2024 2023 Project worker Cor¢ worker 13 17 15 23 No employee5 received emoluments in excess of £60,000. Page 20 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMEIYTS - continued FOR THE YEAR EIYDED 31ST MARCH 2024 12. TANGIBLE FIXED ASSETS Fixtures V4nd rittings Plant and machinery Motor vehicles Computer equipment Totals COST At I st April 2023 and 3 1st March 2024 6,000 DEPRECIATION At 1st April 2023 Charge for y¢ar 20,972 33,375 286 1,500 5,551 173 61,398 ,959 At 31 st March 2024 33,661 NET BOOK VALUE At 31st March 2024 519 At 3 1st March 2023 692 13. DEBTORS: AMOUIYTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 27,654 69,600 925 31.627 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and other taxes A¢¢rued exp¢ns¢s 6,431 5,697 15. ACCRUALS AND DEFERRED INCOME 2024 2023 Accruals and dcferred income Page 21 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds 2023 Total funds UnrestrietedRestrieted fund fund Fixed assets Current assets Current liabilities Accruals and deferred income 5,324 115,030 (10,463) 5,324 115,030 (10,463) 7,283 180,153 (10,497) 16,334) 109 891 109.891 160.605 17. MOVEMENT IN FUNDS Net movement in funds Trgnsfers between funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 92,889 (50,714) 67,716 109,891 Restricted funds Restricted fund 67,716 (67,716) TOTAL FUNDS 160605 50 714) 109 891 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement In fundg Unrestricted funds General fund 264,888 (315,602) {50,714) Reslrleted fundy R¢stri¢ted fund 43,334 (43,334) TOTAL FUNDS 308 222 358 936) 50714) Page 22 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestrieted funds General fund 61,452 31,437 92,889 Restricted funds Restricted fund 98,585 (30,869) 67,716 TOTAL FUNDS 160037 568 Comparative net movement in funds, included in the above are as follows: Ineomlng resources Rcsources expended Movement in funds Unreslrieted funds General fund 230,310 (198,873) 31,437 Restrieted funds Restricted fund 114,473 (145,342) (30,869) TOTAL FUNDS 344.783 344 215) 568 A current year 12 months and prior year 12 months combined position is as follows: Nel movement in funds Transfers between funds At 31.3.24 At 1.4.22 Unrestricted funds General fund 61,452 (19,277) 67,716 109,891 Restrlcted funds Restricted fund 98,585 (30.869) (67,716) TOTAL FUNDS 160 037 50 146) 109,891 Page 23 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31ST MARCH 2024 17. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resourees Resources expended Movement in funds Unrestricted funds General fund 495,198 (514,475) (19,277) Reslrieted funds Restricted fund 157,807 (188,676) (30,869) TOTAL FUNDS 653.005 703 151) 50,146) 18. RELATED PARTY DISCLOSURES Th¢rc were no related party transactions for the year ended 31 st March 2024. 19. RECONCILIATION OF NET(EXPENDITUREyINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net (¢xpcnditure)lincome for thc reporting period (as per the Slatement of financial activities) Adjustments for: Dcpreciation charges Interest received Decrease in debtors Decrease in cr¢ditors (50,714) 568 1,959 (521) 39,898 16.368) 2,017 (102) 1,900 Net cash used in oper8tions 25 746) 20 727) 20. AIYALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31J.24 Net cash Cash at bank 108 628 25 225) 108 628 Total 108 628 25 225) 83,403 Page 24 continued...
MAIDEN LANE COMMUNITY CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31ST MARCH 2024 21. COINC CONCERN The Trustees have reviewed the fmancial position of Maiden Lane Community Centre, considering the challenges faced in the year to 31 March 2024, including the ongoing cost of living crisis, rising costs, and increased demand for services. Despite these pressures, the Trustees ale confident in the charity's ability to continue operating for the foreseeable future. The charity has a diversified funding base, with significant long-temi funding commitments secured for the future, including: l. London Borough of Camden Community Fund - £85,000 per year for 7 years (£595,000 in total), starting I st April 2024. 2. John Lyons Charity - £50,000 per year for 5 years (£250,000 in total), starting I st April 2024. 3. City Bridge Foundation - £317,500 over 5 years, starting I st July 2024. These contracts, amounting to £1,162,500. provide a strong financial foundation, ensuring that the charity can meet its obligations and deliv¢r services effectively. With this funding secured and additional support from local statutory bodies, the Trustees are confident in the charity's fure suslainability. lThe Trustees believe it remains appropriate to adopt the going concern basis in preparing thc financial slat¢ments for the year endcd 31 March 2024. Page 25
MAIDEN LANE COMMUNITY CENTRE LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS Donations and legaeles Donations L.B Camden - Youth Service Grant LB Camden Strat¢gic Partner Maiden Lane Estate S106 Contribution L.B Camd¢n- Early Years Free Entitlement L.B Camden - Recovery Grant Young Camden Foundation Camden Giving Greater London Authority The J H Rausing Trust LB Camden - cost of living CIL Street 'feam CAF- Mak¢ Moves Fund 12.036 12.036 15.000 85,000 2,864 18.0(K) 85.000 61,950 56,669 22,000 3,882 7,408 38,348 15,000 85,000 48,191 27,499 21,140 48,191 27,499 21,140 12,000 16,334 12.000 16,334 7,500 20,004 20,000 7,500 20,004 20,000 17,495 241,370 43,334 284,704 313,616 Other trading activities Hall hire Children's Fees 13,155 9.842 13,155 9,842 10,645 5,120 22,997 22,997 15,765 Invcgtment incorne Deposit account interest 521 521 102 Charitable activities LB Camden Grounds Maintenance 15,300 Total incoming rcsourees 264,888 43,334 308,222 344,783 EXPENDITURE Charithble activities Wages Social security Pensions Business rates & water rates Insurance Light & heat Printing, stationery and t¢lephonc Centre activities Repairs & maintenance Carried forward 220,970 13,416 10.380 1,126 3,639 14,176 3,699 37,384 258,354 13,416 10,380 1,126 3,639 15,776 3,699 251,933 13,347 9,783 2,202 3,796 13,022 6,776 288 2,851 303,998 1.600 2,477 269,883 2,477 308,867 38,984 This page doe5 not fonn part of the statutory financial statements Page 26
MAIDEN LANE COMMUNITY CENTRE LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restrieted funds Charitsble aetivitle$ Brought forward Maiden Lane Pre-school expenses Pre-school equipment Subscription & DBS check Audit fee5 Professional services Training Bank charges Food Bank Girls Glow Costs Youth Expenses Miscellaneous Expenses Security Costs S106 Grant Small equipment purchas¢s HAF expenditure Community support grant Motor expenses Depreciation of tangible fixed assets 269,883 2.965 866 38,984 308,867 2.965 866 1.199 4,032 14,819 487 151 1,963 2,387 970 5,999 1,336 2,144 1,000 5,504 303,998 1,888 410 972 4.800 285 677 4.032 14,819 487 1,963 2,387 1,410 5,648 394 3,466 1,078 6,459 120 5,585 5,005 970 5,999 1,336 2,144 1,000 5,504 1,862 1,862 1,959 2,017 315,176 43,334 358,510 344,215 Support costs Management Advertising 426 426 Total rcsources expended 315602 43,334 358 936 344,215 Net Income 50714) 50714) 568 This page does not fonn part of the statutory financial statements Page 27