# |Contents||||| |---|---|---|---|---| |||||Page| |Reference and administrative||information||| |Trustees'
annual
report||||| |Independent
auditors'|report|||| |Statement offinancial|activities|||| |(incorporating
an income and||expenditure|account)|| |Balance sheet||||20| |Notes to the financial|statements|||| |Name of charity:|Name of charity:|||The New Cross Gate|Trust|Trust|||||| |---|---|---|---|---|---|---|---|---|---|---|---| |||||(also referred to as NXG||Trust)|||||| |Charity Registration|||number:|1118010|||||||| |Company|Number:|||05862134|||||||| |Address ofthe office:||||Besson Street Community
Besson Street, New Cross,|||Garden,
SE145AE.||||| |Charity Trustees:||||Helen Mathie|Chair||||||| |||||Andy Rothery|Treasurer||||||| |||||Wendy Braithwaite|||||||| |||||John Lumley|||||||| |||||Pamela
Martin|||||||| |||||Joan Millbank|||||||| |||||lmogen Slater|||||||| |||||Laura Wirtz|||||||| |||||Cathy Druce|||||||| |||||Matthew
Gerry|||||||| |||||JoWalker|||||||| |||||Janet Bygrave|||||||| |||||Rochelle Saunders|[appointed|||||25/02/21]|| |Company|Secretary|||Oluwatoyin
Onafujabi|[resigned||||15/01/21'j||| |||||Katie Overton|[appointed|||||25/01/21)|| |Senior Statutory||Auditor||Anthony
Epton|||||||| |||||Goldwins
Limited|||||||| |||||75 Maygrove
Road, London,||||NW6|||2EG| |Solicitors||||Russell Cooke Soiicitors|||||||| |||||2 Putney
Hill,
I ondon|SW15|||6AB|||| |Property|INanagement|||Strettons|||||||| |||||Central House,|||||||| |||||18&203Hoe Street,|London|||E17|||3SZ| |Payroll provider||||Dataplan
Payroll
Ltd|||||||| |||||1 Prince Albert Gardens,||Grimsby|||||DN31 3AG| |Pension|provider|||Scottish Widows|||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |For the year en||ded 31|March 2021||||||| |---|---|---|---|---|---|---|---|---|---| |||||||||2021|2020| |||||||Unrestricted|Restricted|Total|Total| |||||||funds|funds|funds|funds| ||||||Notes|f|||| |Income from:|||||||||| |Charitable
activities||||||27,357|112,383|139,740|138,254| |Investment
income|||||4|260,278||260,278|247,110| |Total income||||||287,635|'I12,383|400,018|385,364| |Expenditure
on:|||||||||| |Raising funds||||||74,083||T4,083|75,322| |Charitable
activities:||||||270,001|91,419|361,420|324,992| |Total expenditure|||||5|344,084|91,419|435,503|400,314| |Net income
/ (expenditure)|||before net gains|/|||||| |(losses) on investments||||||(56,449)|20,964|(35,485)|(14,950)| |Net gains
/ (losses)||on investments|||||||| |Net income
/ (expenditure)|||forthe year|||(56,449)|20,964|(35,485)|(14,950)| |Transfers
between|funds||||||||| |Net movement
in|funds|||||(56,449)|20,964|(35,485)|(14,950)| |Reconciliation
of|funds:||||||||| |Total funds brought||forward||||5,028,435|38,887|5,067,322|5,082,272| |Total funds carried||forward|||14|4,9T1,986|59,851|5,031,837|5,067,322| ## |As at 31 March|2021|||||||| |---|---|---|---|---|---|---|---|---| ||||||||2020|2020| |||||Notes||||f.| |Fixed assets:||||||||| |Tangible assets||||9||7,951||9,354| |Investment
properties||||10||4,650,000||4,650,000| |||||||4,657,951||4,659,354| |Current assets:||||||||| |Debtors|||||31,854||7,533|| |Cash at bank and|in hand||||458,842||443,389|| ||||||490,696||450,922|| |Liabilities:||||||||| |Creditors: amounts|falling|due within|one year|12|(10,500}||(8,482)|| |Net current assets||||||||442,440| |Total assets less|current liabilities|||||5,138,147||5,101,?94| |Creditors: amounts|falling|due after one year||||(106,310)||| |Total net assets||||||5,031,837||5,101,794| |Funds||||||||| |Restricted funds||||||59,851||38,887| |Unrestricted
funds||||||||| |Investment
asset fund|||||4,650,000||4,650,000|| |investment
property||sinking fund|||100,197||100,197|| |investment
property||development|fund||||101,088|| |General fund|||||221,789||177,150|| |Total unrestricted|funds|||||4,971,986||5,028,435| |Total funds||||||5,031,$37||5,007,322| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Detailed comparatives||for t|he|statement
o|f5nancial activ|ities||| |---|---|---|---|---|---|---|---|---| |||||||2020|2020|2020| |||||||Unrestricted|Restricted|Total| |||||||fund|fund|fund| |Income from:||||||||| |Charitable
activities||||||8,820|129,434|138,254| |Other trading
activities
investment
income||||||247,110||247,110| |Total income||||||255,930|129,434|385,364| |Expenditure
on:
Raising funds||||||75,322||75,322| |Charitable
activities:||||||||| |Marketing
Community
investment
Besson street|fund|||||3,184
31,969
32,286||3,184
31,969
32,286| |Sewing and Gardening
activities
Besson street investment||||||1,787|3,077|3,077
1,787| |Knife crimes initiatives|||||||12,000|12,000| |Big lottery, employment,
LBof Lewisham S106|ESOL,
Orchard|||IT
and pond|||102,134
4,367|102,134
4,367| |BUPA mental
health project
Others||||||133,543|645|645
133,543| |Total expenditure||||||278,091|122,223|400,314| |Net income I(expenditure)|||for the year|||(22,161)|7,211|(14,950)| |Transfers
between
funds||||||1,882|(1,882)|| |Net movement
in funds||||||(20,2?9)|5,329|(14,950)| |Total funds brought
forward||||||5,048,714|33,558|5,082,272| |Total funds canied forward||||||5,028,435|38,887|5,067,322| |Income from charitable||activities|||||2021|2020| ||||||Unrestricted|Restricted|Total|Total| ||||||F|||F| |Grants and donations|||||16,988|112,383|129,371|130,481| |Other income|||||10,369||10,369|7,773| |Total income from charitable||||activities|27,357|112,383|139,740|138,254| |Income from investments|||||||2021|2020| ||||||Unrestricted|Restricted|Total|Total| |Rents receivable|||||258,657||258,657|245,572| |Bank interest|||||1,621||1,621|1,538| ||||||260,278||260,278|247,'I10| ## ## |||||Basis of|Raising|Charitable|Support|2021|2020| |---|---|---|---|---|---|---|---|---|---| |||||allocation|funds|activities|costs|Total|Total| |Besson Street||||D
irect||19,410||19,410|32,286| |Sewing and Gardening|activities|||Direct|||||3,077| |Knife Crime initiatives||||Direct|||||12,000| |Community
Investment|Fund|||Direct||15,378||15,378|31,969| |Besson Street Investment||||Direct||621||621|1,787| |Big Lottery, Employment,|ESOL,||IT|Direct||47,357||47,357|102,134| |Marketing
and communication||||Direct||2,071||2,071|3,184| |Coronavirus
Community
Environment
Workshop|Support||Fund|Direct
Direct||2,208
1,100||2„208
1,100|| |Growback greener||||Direct||1,795||1,795|| |LB Lewisham S106Orchard||and|pond|Direct|||||4,367| |BUPA mental
health project||||Direct||4,334||4,334|645| |investment
management|costs|||Direct|74,083|||74,083|75,322| |Support staff costs||||staff time|||122,919|122,919|97,360| |Audit fees||||staff time|||4,500|4,500|4,500| |Trust admin
and running|costs|||staff time|||20,158|20,158|30,032| |Depreciation||||Direct|||1,403|1,403|1,651| |Investment
property
development|||fund||||||| |costs||||Direct|||118,166|118,166|| ||||||74,083|94,2?4|26'7,146|435,503|400,314| |Support costs||||||267,146|(267,146)||| |Total expenditure
2021|||||74,083|361,420||435,503|| |Totai expenditure
2020|||||75,322|324,992|||| ## |7|Analysis|of staff costs„ trustee|of staff costs„ trustee|remuneration|remuneration|and expenses,|and the cost of key|management| |---|---|---|---|---|---|---|---|---| ||personnel|||||||| ||Staff costs|were as follows:|||||2021|2020| ||||||||f.|| ||Salaries and wages||||||151,1&6|151,564| ||Social security costs||||||10,053|9,844| ||Employer"s|contribution|to defined|contribution|pension schemes||7,641|7,927| ||||||||168,8&0|169,335| |The avera|ge|number ofemployees
during the year was as|follows:|| |---|---|---|---|---| ||||2021|2020| ||||No.|No.| |Charitable|activities||4|4| |Management||and administration|2|2| |Cleaning||||1| ## ## |9|Tangible fixed assets|Tangible fixed assets||||||||||||Short|Short|Plant and||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| ||||||||||||||leasehold|||machinery||Total| ||Cost|||||||||||||||||| ||At the start|ofthe year|||||||||||||1|19599||19,600| ||Additions
in year|||||||||||||||||| ||At the end|ofthe year|||||||||||||1|19,599||19,600| ||Depreciation|||||||||||||||||| ||At the start|ofthe year||||||||||||||10,246||10,246| ||Charge for|the year||||||||||||||1,403||1,403| ||At the end|ofthe year||||||||||||||11,649||11,649| ||Net book value|||||||||||||||||| ||At the end|ofthe year||||||||||||||7,960||7,961| ||At the start|ofthe year||||||||||||||9,353||| ||All ofthe above assets||are used||for charitable||||purposes.|||||||||| |10|Investment|properties||||||||||||||||| |||||||||||||||||2021||2020| |||||||||||||||||E||F| ||Fair value|at the start of||the year||||||||||||4,860,000|4,650,000|| ||Revaluation|during the|year|||||||||||||||| ||Fair value|at the end ofthe year||||||||||||||4,660,000|4,650,QOO|| ||The
New|Cross
Gate||Trust|arranges|||a|full,|independent,||external||valuation||through|our|property| ||management
company,|||Strettons,||every||five|years. The||last valuation||was||undertaken
in March|||2019.To| ||update
property
values|||to 31|March||2021, the|||Strategy
and||Partnership|||manager
has||undertaken
a|| ||thorough
desk-based||review of property|||||value changes|||in New|Cross|Gate,||with oversight
from the Trust's|||| ||Treasurer.|The decision||to keep|values|||the same||as last|year has been|||cross-checked
and is|||supported
by|| ||our commercial
property|||agent at Strettons.||||||||||||||| ## |11|Debtors|||||| |---|---|---|---|---|---|---| ||||||2021f|2020| ||Other debtors||||29,708|2,5Q2| ||P repayments||||2,148
31,864|5,031
7,533| ||Other debtors represent||rents receivable at the year end received|in April 2021.||| |12|Creditors: amounts|falling due within one year|||2021|2020| ||Accruals||||4,600|4,500| ||Deferred income||||6,000|3,982| ||||||10,600|8,482| ## ## |||||||2021f|2020| |---|---|---|---|---|---|---|---| ||Accruals|||||106,310|| |||||||106,310|| |14|Analysis|ofnet|assets|between|funds||| |14|Analysis o|fnet assets between funds|||| |---|---|---|---|---|---| ||||Unrestricted|Restricted|Total| ||||funds|funds|funds| ||||f.|f|f| ||Tangible fixed assets||7,951||7,951| ||investment|properties|4,650,000||4,650,000| ||Net current assets
Long term liabilities||420,345
~106,310|59,851|480,196
~$06,310| ||Net assets|at 31 March 2021|4,971,986|59,85"I|5,031,&37| ||||Unrestricted|Restricted|Total| ||Analysis ofnet assets between funds 2020||fundsf|funds|fundsf| ||Tangible fixed assets||7,703||7,703| ||investment|properties|4,650,000||4,650„000| ||Net current|assets|369,081|38,887|407,968| ||Net assets|at 31 March 2020|5,026,784|38,8&7|5,065,671| |15|Movements|in funds|||| |Movements
in funds|||||||| |---|---|---|---|---|---|---|---| ||||At the start||||At the end| ||||ofthe year|Income|Expensesf|Transfers
f|ofthe year
f| |Restricted funds:|||||||| |Big Lottery
Grow back greener
Coronavirus
support
fund|||21,286|98,738
6,250
7,395|(72,748)
(4,427)
(4,898)||47,276
1,823
2,497| |BUPA mental
health project
Earnest Cook (Environmental
Total restricted funds|ieaming)||16,605
996
38,887|112,383|(8,350)
~996
~91,419||8,255
59,851| |Unrestricted
funds:|||||||| |General fund|||177,150|270,462|(210,863)|(14,960)|221,789| |investment
asset fund|||4,650,000||||4,650,000| |investment
property
sinking
fund
investment
property
development
Total unrestricted
funds||fund|100,197
101,088
5,028,435|95
17,078
287,835|(15,055)
~118.166
~344,084|14,960|100,197
4,971,986| |Total funds|||5,067,322|400,018|~436,503|-|5,031,837| ## ## |IINovements
in funds 2020||||||||| |---|---|---|---|---|---|---|---|---| |||||At the start||||At the end| |||||ofthe year|Income|Expenses|Transfers|ofthe year| |||||||||E| |Restricted funds:||||||||| |Sewing and gardening||||938|2,000|(3,077)|139|| |Big Lottery||||24,185|91,473|(94,372)||21,286| |Knife crime initiatives||||2,000|12,000|(12,000)|(2,000)|| |Team Esol conversation
cafe||||2,077|1,011|(3,058)|(30)|| |LBof Lewisham S106orchard||and|pond|4,358||(4,367)|9|| |BUPA mental
health project
Earnest Gook (Environmental
Total restricted
funds||learning)||33,558|17,250
5,700
129,434|(645)
~4.704
~122,223|~l,882|16,605
996
38,882| |Unrestricted
funds:||||||||| |General fund||||165,079|254,392|(268,899)|26,578|177,150| |Investment
asset fund||||4,650,000||||4,650,000| |Investment
property
sinking
fund
investment
property
development
Total unrestricted
funds|||fund|124,766
108,859|127
1,411|~9,192|(24,696)
1,&82|100,197
101,088
5,028,435| |Total funds||||||||| ## ##