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2024-03-31-accounts

St Mary Islington Community Partnership

(A company limited by guarantee not having a share capital)

Annual Report and Financial Statements

For the period ended 31 March 2024

Charity Registration No: 1127269

Company Registration No: 06734354

Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

Trustees’ Annual Report For the year ended 31 March 2024

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Contents

Contents
Reference and administrative details 2
Trustees’ annual report 3 - 11
Independent examiner’s report 12
Statement of comprehensive income 13
Balance sheet 14
Notes to the fnancial statements 15-22

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Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

REFERENCE AND ADMINISTRATIVE DETAILS

Charity name: St Mary Islington Community Partnership, the working name is Mary’s Charity number: 1127269 Company number: 06734354 Registered office and operational address : St Mary’s Parish Office Upper Street Islington London N1 2TX

Directors:

The directors of the charitable company (the charity) are its trustees for the purposes of charity law, The trustees and officers serving during the year and since the year-end were as follows: Helen Mylam (Chair) - resigned 31 January 2024 Ian Mylam Alan Shaw Jo Helen Kedens Richardson - resigned 17 May 2023 Aysha Sheridan Naeman Symonds-Baeg Joanthan Elmer (Treasurer) Sumayah-Alain Khan - resigned 26 July 2023 Bethany Kilminster - appointed 18 October 2023 Aston Wood - Chair -appointed 18 October 2023 Chief Executive Officer: Aston Wood (Appointed 1 April 2023 - left 30 September 2023) Sally Baxter (Appointed 1 October 2023) Independent examiner: Alex Friede BA FCA Philip Friede & Co Fifth Floor 30-31 Furnival Street London EC4A 1JQ

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Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

The directors present their report together with the financial statements for the 12 months ended 31 March 2024.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

St Mary Islington Community Partnership (SMICP) is a charitable company limited by guarantee governed by its Articles of Association dated 27th September 2017. It is registered as a charity with the Charity Commission. In the event of the company being wound up, members are required to contribute an amount not exceeding £10. The working name of ‘Mary’s’ was registered with the Charity Commission in November 2014.

Appointment of directors/trustees

The directors have the power from time to time to appoint new or additional directors for the company. A minimum of 40% of the directors shall be individuals nominated for appointment by the Parochial Church Council (PCC) of St Mary Islington. Three out of the eight trustees were PCC nominees on 31st March 2024. These were Ian Mylam, Aysha Sheridan and Alan Shaw.

Induction and training of directors/trustees

New directors undergo induction training as required and are given documentation to brief them on their legal obligations under charity and company law, the content of the Articles of Association, all Mary’s policies, the committee and decision making processes, the business plan and recent financial performance of the charity. New directors are asked to declare any conflict of interest impacting on their directorship at the Partnership both when they are appointed and throughout their tenure. During the first weeks of their appointment, they meet with the company’s key personnel. Training needs of the directors are discussed at board meetings and at events which are arranged as and when appropriate. All directors are expected to complete at least Level 2 Safeguarding Training within their first year of serving.

Organisation

The Board of Directors meets regularly to administer the company. The Board met 7 t imes in the period. During the period, the Chief Executive Officer, Aston Wood, had responsibility for day to day operations including finance, employment, staff management and running the day to day business of the company from 1st April 2023-30 September 2024, and was succeeded by Sally Baxter on 1st October 2024.

Related parties

The company has a close relationship with St Mary Islington PCC. St Marys Islington Community Partnership (Known a Marys) was formed to take over the management of the community activities taking place within the buildings owned by the church. The details of the relationship between the company and the PCC are contained within legally binding agreements (between the London Diocesan Fund, the PCC and Mary’s) which expired in April 2023. Mary’s has retained responsibility

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

for running the youth work. Mary’s Youth Club continues to operate and have a home in St Mary’s Neighbourhood Centre (under terms set out in a 6 year lease agreement) as well as running activities in other locations across the borough.

Investment powers and policy

The charity’s directors, having regard to the liquidity requirements of the operation and to the reserves policy as stated below, have the power to invest in any way that they deem to be appropriate.

OBJECTIVES AND ACTIVITIES

The Charity's objects are restricted specifically, in each case only for the public benefit to:

(a) act as a resource for young people living in the London Borough of Islington and the surrounding neighbourhood (the "Area of Benefit") by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

(b) act as a resource for the development and education of children living in the Area of Benefit by providing advice and assistance and organising programmes of physical, educational and other activities as a means of:

(c) act as a resource for people living in the Area of Benefit, without distinction of sex, sexual orientation, race or political, religious or other opinions by associating together the said residents and the local authorities, voluntary and other organisations in a common effort to:

In furtherance of this object, the Charity may co-operate with any statutory authority in the maintenance and management of a community centre for activities promoted by the Charity.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

REVIEW OF 2023-24

Following the demerger of St Mary Islington Community Partnership in April 2023, we are delighted to have not just survived but succeeded in our first year as a smaller charity dedicated to Youth Work practice.

Marys Youth Club continues to create meaningful experiences and strong community connections. Our summer program provided young people with unforgettable activities, from swimming at Brockwell Lido, camping and visiting Brighton beach, Live Link Film Festival and Summerversity projects that enhanced job-readiness skills. Collaborations with local partners like The Compton Arms enhanced our events, and brought awareness of our community work to a wider audience.

We launched the SIS Project, empowering young women through Wellness Ambassadors who offer peer support.

These achievements reflect our commitment to fostering growth, wellbeing, and a sense of belonging, setting a strong foundation for future impact and community engagement

Marys have continued to run our Youth Club from our home at St Marys Neighbourhood Centre four nights of the week, and launched a satellite session with our partners at Mildmay Community Centre.

In addition to our weekday delivery, we have run 18 weekend sessions.

Marys Youth Club have delivered a total of run 630 sessions and activities across the year.608 of those were directly with young people and 22 activities as part of our Youth Work Training offer.

Marys has continued to Deliver The QLIP Project (Quality Leadership Impact and Partnership) with London Youth Supporting the professional Development of Islington practitioners. QLIP is now in its third year and has worked with 58 organisations across Islington this year.

.

Strategic aims

Mary’s aims for the for the period ending 31 March 2024 were:

Financial Sustainability

To be confident of annual income matching proposed expenditure by March 2026 by:

Development

To continue to enable young people and youth workers in our community and beyond to be better connected, and better equipped with skills and confidence by:

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Connected

To become better connected with more local young people, partners and stakeholders by:

Youth Club

Mary’s Youth Club’s main focus is for young people to be better connected and better equipped with the skills and confidence to form and engage with supportive networks of friends and family, health and social services, businesses and organisations.

At a glance

●3500+ OUTCOMES/INDICATORS
●1,498TOTAL SERVICE HOURS		 IN TOTAL
2019/20 2020/21 2021/22 2022/23 2023/24
Young People Engaged 354 144 346 248 322(+74)
Individual Sessions 466 112 498 523 630 (+107)
Total Attendances 3554 746 3522 4680 4,508
(-172)

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Our First Duke of Edinburgh Expedition

In 2023, Mary’s Youth Club embarked on its first year of running a Duke of Edinburgh (DofE) group, thanks to funding from the Access Without Limits programme. This support enables us to provide three years of DofE activities, allowing young people who may lack access through school to complete their Bronze award and beyond.

We quickly learned the challenges of balancing participants’ school, social, and extracurricular commitments with DofE requirements. Weekly sessions were used to teach essential skills, including cooking on Trangias, pitching tents, and navigation, while flexible 1-1 slots supported individual progress. Our structured program also allowed young people to engage with activities within the youth club, fulfilling their Physical, Skill, and Volunteering sections—often using existing activities like gym sessions or cheerleading.

In October, the group completed their assessed expedition in the Essex countryside. While preparations and route planning required effort, the young people proved adaptable, overcoming navigation and endurance challenges with teamwork. Supervisors Jake and Michael provided minimal intervention, observing how participants supported each other to complete tasks and solve problems.

After two days of hiking and camping, they returned home with a sense of accomplishment, excitedly asking about next steps, including the possibility of pursuing their Silver award in more remote locations. As we enter our second year, the success of this inaugural cohort inspires us to recruit a new group, confident in the impact of this program on young people’s resilience, teamwork, and sense of achievement.

Case Study : Lilian Sebastiano

In Autumn 2023, Mary’s Youth Club became a licensed provider of the Duke of Edinburgh’s Award (DofE) at the Bronze level, offering members the opportunity to earn this internationally recognised leadership award alongside friends from the club. Lilian, part of our first cohort, recently completed her expedition, a significant achievement in her DofE journey.

Reflecting on her expedition, Lilian shared, "I was really proud of myself for completing it. Day 1 was tough; I wasn’t prepared for how heavy the bag would be. But knowing we’d finally get to put the bags down kept me going." This resilience was crucial to her success.

For her Volunteering section, Lilian participated in ‘I Shine Speak Out,’ a social action project with our partner organization, Survivors Can. This experience broadened her understanding of issues like bullying, mental health, and various forms of abuse, including financial abuse. As an ambassador for change, Lilian contributed to content creation and will represent Mary’s in a pan-London Community Day in May 2024.

In the Skills section, Lilian undertook first-aid training, gaining knowledge valuable to her goal of studying nursing. She noted the importance of teamwork, sharing, “It’s important to understand

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

other people in a team.” Lilian views her DofE experience as a step toward her ambition, helping her “stand out” as she pursues a career in nursing.

Congratulations, Lilian, on your achievements and thank you for sharing your inspiring journey.

Partnerships

Because we believe that better connection with each other benefits us all, we love working with other organisations. We have continued to work with some partners while developing new activities with new people. We even had the chance to visit and be visited by other organisations .

Our Friends

Professional Development

At Mary’s, we firmly believe in the transformative power of youth work. We have always been steadfast advocates for youth work and the dedicated professionals who make it possible. While additional funding is crucial, we recognize that true progress requires comprehensive support for the workforce, enhanced professional development opportunities, and streamlined collaboration channels.

Our goal is to empower the youth sector to excel in their work with young people. To achieve this, we are offering a range of initiatives and resources designed to support those who work directly with young Londoners. These include specialised training programs for youth workers and professional practice development opportunities such as supervision and action learning sets. Additionally, we are proud to introduce a Young Leaders Programme, cultivating the next generation of leaders.

Our approach is dynamic and collaborative, ensuring swift responses to emerging needs and trends. We recognize that this is an ongoing journey, and as such, we are committed to seeking feedback from a wide range of stakeholders. By actively engaging with our partners and beneficiaries, we can adapt and refine our support, ensuring its utmost effectiveness.

We firmly believe that by championing youth work and fostering a supportive environment for youth workers, we can make a lasting difference in the lives of young people in London.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

What’s Next?

Marys Youth Club has young people at the centre of everything we do. We will continue our balanced programming to meet young people’s needs, supporting their growth through trips, workshops, and skill-building activities.

To boost our community connections, we plan to deepen relationships with local businesses, increase our visibility, and position ourselves as trusted advocates and allies to young people. In the coming year, Mary’s Youth Club aims to strengthen its financial sustainability, further develop its programs, and enhance connections within the community.

To ensure financial stability by March 2026, Mary’s will establish a Fundraising Subcommittee to explore diverse funding sources and launch innovative initiatives, including a Community Block Party that will raise funds and bring the community together.

Expanding the work of Islington QLIP project, across more boroughs under Marys CPD Youth work Training.

Overall, this year’s efforts are focused on creating an engaging, inclusive, and joyful space for youth to connect, learn, and thrive, positioning Mary’s as a strong, sustainable, and impactful organization in the community.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

FINANCIAL REVIEW AND PERFORMANCE

The current financial year 2023-24 reflects a 12 month period compared to the previous financial year which was 15 months long. In the year the activities are significantly reduced and focused on youth activities. The total income of the year was £194k (2022-23 £ 972k), The expenditure for the charity was £198k (2022-23: £928k

Overall, this has resulted in a deficit for the period of £3,823 ( 2023: surplus £43,620) thereby reducing the overall funds to £314,785 from £318,608.

Total funds on 31 March 2024 were £314,785 which is made up of £ 243,785 unrestricted general funds and £71,000 unrestricted designated funds.

Reserves policy

The directors have agreed that the company should aim to maintain free reserves at a level sufficient to cover twelve months of regular operating expenditure. This level of reserves is justified given the unusually high level of uncertainty facing Mary’s as we transition to a new model with lower levels of secured income than hitherto. Free reserves in excess of the minimum can be used at the discretion of the trustees for the strategic development of Mary’s. Based on the projected operating costs of Mary's core services for the year to 31st March 2024, the reserves to fund 12 months of minimum operating costs would need to be approximately £230,000. Mary’s reserves requirements will be reviewed annually.

Risk management and internal control

The trustees have reviewed the major risks the charity faces and have established systems to manage these risks as part of the annual business planning process.

PUBLIC BENEFIT

The company aims to provide public benefit by advancing community development through its support of the community and voluntary organisations in Islington.

Throughout this process, the directors have regard to the Charity Commission’s guidance on public benefit contained in section 17(5) of the 2011 Charities Act and ensure that the company’s services meet these criteria.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Trustee’s Annual Report For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with the United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the result of the charity for that period.

In preparing these financial statements, the directors are required to:

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

Signed on behalf of the board of directors

Aston Wood, Chair

Date: 14 December 2024

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP Independent Examiner’s Report to the Trustees For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

I report on the accounts of the company for the period ended 31 March 2024 which are set out on pages 13 to 22.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Institute of Chartered Accountants of England and Wales (ICAEW).

Having satisfied myself that the charity is not subject to audit under Part 16 of the Companies Act 2006 and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that, in any material respect, the requirements:

ALEX FRIEDE BA FCA

Philip Friede & Co Fifth Floor 30-31 Furnival Street London EC4A 1JQ

Date: 17 December 2024

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP STATEMENT OF COMPREHENSIVE INCOME

(Statement of Financial Activities incorporating the income and expenditure account) For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

2024 2023
Unrestricted Restricted Total (12 Total (15
Notes Funds funds Months) Months)
£ £ £ £
INCOME
Donations and grants 2a 32,881 41,390 74,271 232,752
Income from charitable activities 2b 86,862 19,739 106,601 734,305
Investment income 13,298 - 13,298 4,526
TOTAL INCOME 133,041 61,129 194,170 971,583
EXPENDITURE
Expenditure on Charitable
activities 3 & 4 136,864 61,129 197,993 927,963
TOTAL EXPENDITURE **136,864 ** 61,129 197,993 927,963
NET INCOME FOR THE YEAR (3,823) - (3,823) 43,620
Transfer between funds - -
NET MOVEMENT IN FUNDS (3,823) - (3,823) 43,620
TOTAL FUNDS BROUGHT
FORWARD 318,608 - 318,608 274,988
TOTAL FUNDS CARRIED
FORWARD 314,785 - 314,785 318,608

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP BALANCE SHEET As at 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

________________________________________________________________________________

2024 Total (12 2023 Total (15
Months) Months)
Note £ £
FIXED ASSETS
Tangible fixed assets 6 533 799
CURRENT ASSETS
Debtors 7 14,241 52,984 52,984
Cash at bank and in hand 313,619 377,304 4
327,860 430,288 430,288
CREDITORS:
Amount falling due within one year 8 (13,608) (112,479)
NET CURRENT ASSETS NET **314,252 ** 317,809
ASSETS 314,785 318,608
FUNDS OF THE CHARITY
Restricted funds 9 - -
Unrestricted funds
- General funds 9 243,785 247,608 247,608
- Designated funds 9 71,000 71,000 71,000
314,785 318,608
TOTAL CHARITY FUNDS 314,785 318,608

These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006.

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 Companies Act 2006 and no notice has been deposited under section 476.

The trustees/directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to the accounting records and the preparation of the financial statements.

These financial statements were approved by the directors/trustees on 14 December 2024 and were signed on their behalf by:

Aston Wood - Chair

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation and assessment of going concern

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 (FRS102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

St Mary Islington Community Partnership meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost convention or transaction value unless otherwise stated in the relevant accounting policy note(s).

The directors/trustees consider that there are no material uncertainties about the company’s ability to continue as a going concern.

Reconciliation with previous Generally Accepted Accounting Practice

In preparing these financial statements the directors/trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 a restatement of comparative items was needed. No restatements were required.

Fund accounting

The Company’s funds are:

Unrestricted general fund s which are available to be spent in accordance with the charitable objects of the company.

Restricted funds which are donations or grants received that have specific restricted conditions placed on them by the donor or a specific object attached to them. These funds may therefore only be used for the specific object to which they have been given. Any balance remaining unspent at the end of the year is carried forward as a balance on that particular fund

Income

All income is accounted for gross in the financial statements.

Donation income is accounted for in full only when received. However, donations received that relate to long term projects are accounted for over the length of the project.

Community letting income is invoiced for in advance of services being provided. However, all lettings income the charity is entitled to receive by the year-end is invoiced before the year-end and no prepaid letting income exists as at the year-end.

Income tax recoverable on Gift Aid donations is recognised when the income is recognised.

Grants are recognised as and when the company is legally entitled to the amount due and the amount can be measured with reasonable reliability and certainty.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Investment income is accounted for when due and payable.

All other income is recognised when it is receivable.

Expenditure

Expenditure is accounted for once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure, which is accounted for gross and on an accruals basis, is classified under the activity headings.

Expenditure on charitable activities is apportioned between expense categories based on the consistent use of resources.

Support costs for centrally supplied services have been allocated to activity cost categories on the basis of the use of resources applying measures such as the usage of floor space and time spent on each activity.

Pension costs

The company contributes 8% of gross pay towards an auto-enrolment pension scheme for all qualifying employees. Contributions are charged to the statement of financial activities on an accruals basis.

Operating lease

The charity did not renew its ten-year lease and licence agreement with St Mary Islington PCC on its expiry on 31 March 2023 but has continued to pay rent on an ad hoc basis to St Mary Islington PCC.

Tangible fixed assets

Individual items of equipment normally costing £500 or more are capitalised at cost and are

depreciated over their estimated economic useful lives on a straight-line basis as follows: Computer equipment: 3 years

Debtors

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid. Specific provision is made against debtors where there is objective evidence that the amount is not fully recoverable.

Cash at bank and in hand

Cash at bank comprises funds held in current and deposit accounts with major UK banks and financial institutions. There are no short or long term deposits. The amounts held are protected under the Financial Services Compensation Scheme (FSCS).

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Financial instruments

The company only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Staff holiday pay

The company’s employee holiday pay year runs from 1 April to 31 March. No material unpaid holiday pay liabilities are required to be provided for in this year’s accounts.

2 Income

a) Donations and grants
Community lettings/services
Pre-School/Play scheme
Youth Club
b) Income from charitable activities
Community lettings/services
Pre-School/Play scheme
Youth Club
3 Charitable Expenditure
Expenditure
Community lettings
Pre-School/Play scheme
Youth Club
Total expenditure on charitable activities		 Unrestricted
Funds
Restricte
d funds
2024 Total
(12
Months)
2023
Total (15
Months)
£
£
£
£
-
-
-
41,148
-
-
-
31,921
32,881
41,390
74,271
159,683
32,881
41,390
74,271
232,752
Unrestricted
Funds
Restricte
d funds
2024 Total
(12
Months)
2023
Total (15
Months)
£
£
£
£
(622)
-
(622)
284,456
(1,566)
-
(1,566)
313,666
89,050
19,739
108,789
136,183
86,862
19,739
106,601
734,305
Unrestricted
Funds
Restricte
d funds
2024 Total
(12
Months)
2023
Total (15
Months)
£
£
£
£
2,317
-
2,317
294,757
1,009
-
1,009
349,255
133,538
61,129
194,667
283,951
136,864
61,129
197,993
927,963

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ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

4 Charitable Expenditure analysis

4a) Expenditure by cost category

Direct activities
Programme equipment
Salaries and wages
Other staff costs
Rent and rates
Utilities
Offce consumables
Insurance
IT and telephone
Repair maintenance
Cleaning
Professional fee
Other costs
Bank Charges
Bad debt
Independent examiner's fee
Depreciation		 2024 Total
(12 Months)
2023 Total
(15 Months)
£
£
19,031
43,524
2,197
850
151,150
615,948
1,894
4,514
8,297
97,060
(757)
21,784
574
6,402
(22)
11,326
236
8,574
-
23,606
-
54,577
12,687
34,264
570
3,148
70
384
-
202
1,800
1,800
266
-
197,993
927,963

4b) Expenditure by activities

4b) Expenditure by activities
Community lettings
Pre-School/ Play Scheme
Youth club		 Staff costs
Other direct
costs
Support
costs
2024 Total
(12 Months)
£
-
-
2,317
2,317
-
-
1,009
1,009
153,044
41,212
411
194,667
153,044
41,212
3,737
197,993

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Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Expenditure by activities - prior year

Expenditure by activities - prior year
Community lettings
Pre-School/ Play Scheme
Youth club		 Staff costs
Other direct
costs
Support
costs
2023 Total
(15 Months)
£
118,273
94,615
81,869
294,757
271,213
42,389
35,653
349,255
214,676
54,750
14,525
283,951
604,162
191,754
132,047
927,963

5 Staff costs

Staff costs
Gross salaries and other payments
Employer's NIC
Employer's Pension Contribution		 2024 Total (12
Months)
2023 Total (15
Months)
£
£
133,612
540,703
6,996
36,712
10,542
38,122
151,150
615,537

The average number of staff employed by the company in the period was 5 (2023: 25)

No employees earned more than £60,000 in the year to 31 March 2024. In the year to 31 March 2023 there was one employee earning more than £60,000

The company provides a defined contribution stakeholder pension scheme for qualifying employees to which it contributes 8% (2022-23: 8%] of the employee’s basic salary. Employees may also make their own contributions to the scheme.

The total remuneration to the key management personnel, including employers NI and pension, was £71,063 (2022-23: £85,817).

The staff cost included a net £16,476 (total cost £48,955 less contribution from PCC) was paid to the outgoing CEO in 2022-23. Amount for 2023-24 was £nil.

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Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

6
TANGIBLE FIXED ASSETS
Cost
At 1st April 2023
At 31 March 2024
Depreciation
At 1st April 2023
Depreciation
At 31 March 2024
Net book values
At 31 March 2024
At 31 Dec 2023
7
DEBTORS
Trade debtors
Other debtors
8
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Accrual and deferred income
Taxation creditor
Pre-school and letting deposit
Pension and salary liabilities
Other creditors		 Equipment
Total
£
£
799
799
799
799
-
-
266
266
266
266
533
533
799
799
2024 Total (12
Months)
2023 Total
(15 Months)
£
£
14,241
17,938
-
35,046
14,241
52,984
2024 Total (12
Months)
2023 Total
(15 Months)
£
£
1,113
5,685
3,277
26,747
2,695
6,755
-
100
1,722
3,181
4,801
70,011
13,608
112,479
20

Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

9 Statement of funds

Unrestricted Funds
General fund
Designated fund
Income generation
Unrestricted total
Restricted Funds
Youth Club (general)
Restricted total
Total funds for the charity		 At 1st
April 2023
Income
Expenditure
Transfer
between
funds
At 31
March
2024
£
£
£
£
£
247,608
133,041
(136,864)
-
243,785
-
-
-
71,000
-
71,000
318,608
133,041
(136,864)
-
314,785
-
61,129
(61,129)
-
-
-
61,129
(61,129)
-
-
318,608
194,170
(197,993)
-
314,785

Restricted funds for the reported period are made up of grants from:

Designated funds :

● £71,000 set aside for the development of a new funding stream for the charity.

21

Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b

ST MARY ISLINGTON COMMUNITY PARTNERSHIP

NOTES TO THE FINANCIAL STATEMENTS

For the year ended 31 March 2024

(A company limited by guarantee not having a share capital Company Registration No: 06734354)

Statement of fund - prior year
At 31 Dec Income Expenditure Transfer At 31
2021 between March
funds 2023
£ £ £ £ £
Unrestricted Funds
General fund 199,988 887,821 (844,201) 4,000 247,608
Designated fund
SMICP de-merger 15,000 - - (15,000) -
Community Sports 15,000 - - (15,000) -
Youth club development 45,000 - - (45,000) -
Income generation - - - 71,000 71,000
Unrestricted total 274,988 887,821 (844,201) - 318,608
Restricted Funds
Youth Club (general) - 71,644 (71,644) - -
Community - 12,118 (12,118) - -
Restricted total - 83,762 (83,762) - -
Total funds for the charity 274,988 971,583 (927,963) - 318,608

10 Analysis of net assets by fund

Represented by:
Tangible fxed assets
Current assets
Current liabilities		 Unrestricted
general funds
Unrestricted
designated
funds
Restricted
funds2024 Total 2023 Total
£
£
£
£
£
533
-
-
533
799
256,860
71,000
-
327,860
430,288
(13,608)
-
-
(13,608)
(112,479)
243,785
71,000
-
314,785
318,608

11 Interests of the company’s directors in transactions

There were no transactions between the directors and the company during this year or last year.

12 Related Party transactions

The company paid rent of £8,297 to St Mary Islington PCC in the year on an ad-hoc basis.

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Doc ID: 8daf5fc7d1283e78aec7ca4005af4c15b3774f8b