Company registration number 6792798 Registered Charity Number 1129931
Glyndon Community Group
Financial Statements
Year ended 31 March 2023
Glyndon Community Group Report and accounts Year ended 31 March 2023
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 |
| Report of the independent examiners | 6 |
| Statement of financial activities | 7 |
| Income and expenditure account | 8 |
| Cash flow statement | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 |
Glyndon Community Group Financial Statements Year ended 31 March 2023
Registered charity number 1129931 Company Registration Number 6792798 Registered office Glyndon Community Centre 75 Raglan Road Plumstead, London SE18 7LB
Management committee
and Trustees Kwasi Asare Obuor Asimpih Jemima Ellis Stewart Jagjit Singh Juttla (resigned Oct 2022) Lynne Christine Chamberlain Marion Doherty Jennifer Rosina Archer Sheila Elaine Jones Laura Ezinne Obasi Linda Rosina Winslow Katie Haisman (appointed Mar 2023)
Bankers
Independent Examiners
Unity Trust Bank Nine Brindley Place Birming ham B1 2HB Michael Adamson and Co 23 Helena Road Rayleigh Essex SS6 8LN
1
Report of the Trustees to the members of Glyndon Community Group
The trustees, who are also members of the management committee, present their annual report and the financial statements for the period ended 31 March 2023.
The report of the trustees has been prepared under the historical cost convention and in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities (SORP FRS 102) effective October 2019 and applicable accounting standards
Governing documents
The Governing Document is the Memorandum and Articles of Association of the Glyndon Community Group. Company no 6792798 and Registered Charity no 1129931 as adopted at the Inaugural General Meeting of the organisation on 22 January 2009
Objects of the charity, principal activities and organisation of our work
The objects of the Company shall be:
a. To promote the benefits of the inhabitants of the London Borough of Greenwich and especially within and around the designated Centre and Halls without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authority, voluntary and other organisations in a common effort to advance education and to provide facilities for healthy recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
b. To secure the establishment of the community and manage the same whether alone or in co-operation with any maintain local authority or other person or body in furtherance of these objects
The charity facilitates a whole range of community activities from all of its sites which are as follows:
Delivery of Key Services Live well Greenwich/ healthy cookery clubs Baby Clinics Breast Feeding Pre School / Afterschool Childcare/Development (Home Start, childminders, toy library) Lunch clubs Community Focussed Clubs and Activities Chess Dance/Fitness . Brownies, Girl Guides, Cubs and Scouts Youth Clubs Residents Associations Cookery Clubs /healthy eating. Worklessness/ Support back in to Employment Gym A competitively priced Community Gym is located at the Glyndon Community Centre Gardening and food growing club for local residents. A table tennis club for local children. Community Events Glyndon Festival Coldharbour Festival
2
Carol Concert OAPs Xmas lunch National Play Day Children’s Easter egg hunt Children’s Halloween Party Fireworks displays Subsidised summer coach trips for local residents Community Lunches Coronation Events Weekly Coffee morning for local residents. Woman's health events. Community health events
Structure, Governance and Management
The charity is organised so that the Trustees are responsible for its overall governance within the terms of the charity’s Trust Deed, working in conjunction with a Management Committee, with the day to day management delegated to the Centre Manager, Andy Church, following policies and procedures agreed by the Trustees.
The Charity manages four sites: Glyndon Community Centre, Coldharbour Community Hall, Invicta Community Hall and the Slade Community Hall. All of these buildings are owned by The Royal Borough of Greenwich and are let to the charity on a tenancy at will.
The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit when deciding what activities the charity should undertake..
Development, activities and achievements this year
It is the aim of the Trustees to develop the charity in order to make it more sustainable in the future and further develop the enabling of the local communities accordance with the objects stated in the Memorandum and Articles of Association.
This year was another challenging one for the organisation post COVID as we have returned to normal with our income levels yet to reach pre covid levels.
The charity is also committed to supporting the local community by organising, facilitating and supporting such community events and activities as follows:
Glyndon Festival OAPs Xmas lunch National Play Day Summer coach trips Table tennis club for local children Santa's Grotto for local children Community gardening events Community cooking events Health awareness training for staff and local residents Festival and funday for local residents Xmas party for local children Coffee mornings for local parents and residents Health and well being events
3
Review of the financial position
The net income and resources for the year amounted to a deficit of £8,080. This was a result of the various COVID-19 restrictions having a negative effect on our income. The organisation was also fortunate to receive its full £65,000 commissioning funding from the Royal Borough of Greenwich.
Transactions for the year and balances at the yearend are shown in the accounts on pages 7 to 15 attached
Investment policy and returns
Under the constitution, the charity has the power to make any investment which the trustees see fit.
The figure now invested as at 31 March 2023 is £135,000. This is included in the overall reserve fund of £145,007. The investment account has returned 2.6% in the last financial year.
Reserves
The charity commission requires charities to determine and explain their policy for free reserves. The trustees have reviewed the free reserve policy
-
It is the Glyndon Community Groups policy to establish an adequate reserve fund to cover the costs of three months operation in the event of closure, ensure that all buildings are handed back to the Royal Borough of Greenwich in a condition comparable with that stated in the 2008 condition surveys.
-
The minimum sum therefore ultimately required to be in the reserve funds is £182,218
-
This is made up of the following:
-
£53,000 Three months operating costs based on 2022/23 budget.
-
£63,218 Being the cost of redundancy payments as at 31 March 2022
-
£66,000 Property dilapidations.
-
The current amount of funds held in the reserve account is £2,074.21 at 31 March 2023 it is board’s policy to make it a priority, invest annually on receipt of the year end accounts.
The current total in the reserve fund is £137,074.21. The sum of £137,074.21 is held in the reserve account and the investment account and this forms part of the £137,441.39 cash at bank and in hand on the balance sheet shown on page 10 of the accounts.
Trustees
The trustees and their period of service is shown on page 1
4
Risk management
The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.
The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate any significant risk.
Statement of trustee’s responsibilities
The trustees are required by law to prepare financial statements for each year which give a true and fair view of the financial activities of the charity and its financial position at the end of the year.
In preparing those financial statements the trustees are required to:
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select suitable accounting policies and apply them consistantly;
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make judgements and estimates that are reasonable and prudent;
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state whether the policies adopted are in accordance with the Charities Act 2011 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue in operation
A resolution proposing Michael Adamson and Co be re-appointed as independent examiners of the charity was put to the governing body.
Approval
This report was approved by the trustees and signed on its behalf
Date ...................................................... Trustee ................................................
Trustee ................................................
5
Glyndon Community Group
Report of the Independent Examiners to the Members of Glyndon Community Group
We have examined the financial statements on pages 7 to 15 for the period ended 31 March 2023, which have been prepared under the accounting policies set out on page 11.
Respective responsibilities of the trustees and examiner
The charity’s trustees 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 Charities Act) and that an independent examination is needed.
It is our responsibility to:
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examine the accounts under section 145 of the Charities Act,;
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to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 seeking 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 we do not express an audit opinion on the veiw given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
-
which gives us reasonable cause to believe that in any material respect the requirements
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(a) to keep accounting records in accordance with section 386 of the Companies Act 2006; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice : Accounting and Reporting by Charities have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Adamson and Co Chartered Accountants
21 The Drive Hullbridge Hockley Essex SS5 6LZ
Date :
6
Glyndon Community Group Statement of financial activities for the year ended 31 March 2023
| Restricted Unrestricted Notes funds funds 2023 Income and expenditure £ £ £ Incoming resources Grants receivable and donations 2 75,000 - 75,000 Other incoming resources 3 - 94,214 94,214 Total incoming resources 75,000 94,214 169,214 Resources expended Cost of generating funds Direct charitable expenditure 4 75,000 106,069 181,069 Governance costs 1, 5 - 1,027 1,027 Total expenditure 75,000 107,096 182,096 Net (outgoing)/incoming resources for the year - (12,882) (12,882) Statement of other recognised gains and losses Net (outgoing)/incoming resources before other recognised gains - net movement in funds 6 - (12,882) (12,882) Total funds brought forward 6,000 149,162 155,162 Total funds carried forward 6,000 136,280 142,280 |
Restricted Unrestricted Notes funds funds 2023 Income and expenditure £ £ £ Incoming resources Grants receivable and donations 2 75,000 - 75,000 Other incoming resources 3 - 94,214 94,214 Total incoming resources 75,000 94,214 169,214 Resources expended Cost of generating funds Direct charitable expenditure 4 75,000 106,069 181,069 Governance costs 1, 5 - 1,027 1,027 Total expenditure 75,000 107,096 182,096 Net (outgoing)/incoming resources for the year - (12,882) (12,882) Statement of other recognised gains and losses Net (outgoing)/incoming resources before other recognised gains - net movement in funds 6 - (12,882) (12,882) Total funds brought forward 6,000 149,162 155,162 Total funds carried forward 6,000 136,280 142,280 |
2022 £ 134,013 67,570 |
|---|---|---|
| 75,000 94,214 169,214 |
201,583 | |
| 208,672 991 |
||
| 75,000 107,096 182,096 |
209,663 | |
| - (12,882) (12,882) |
(8,080) | |
| (8,080) 163,242 |
||
| 6,000 136,280 142,280 |
155,162 |
The(deficit)/surplus for the year represents the total recognised (losses)/gains for the period
The charity commenced all activities within the period
None of the charity's activities were discontinued during the current period
The attached notes form part of the accounts
7
Glyndon Community Group Balance Sheet as at 31 March 2023
| Notes Fixed assets Tangible assets 9 Current assets Debtors 10 Cash at bank and in hand 7 Creditors: amounts falling due within one year 12 Net current assets Net assets Funds Restricted funds 14 Unrestricted funds General funds 14 |
2023 £ 540 12,283 137,441 149,724 (7,984) 141,740 142,280 6,000 136,280 142,280 |
2022 £ 720 14,336 146,507 160,843 (6,401) 154,442 155,162 6,000 149,162 155,162 |
2022 £ 720 14,336 146,507 160,843 (6,401) 154,442 155,162 6,000 149,162 155,162 |
|---|---|---|---|
| 155,162 | |||
| 6,000 149,162 |
|||
| 155,162 |
The management committee are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with section 476 of the Act. The management committee acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the management committee on and signed on their behalf.
Trustee ……………………………………………. Date ……………………………………… Kwasi Asare Obuor-Asimpih Trustee …………..……………..……………………. Date ………………………………………
Kwasi Asare Obuor-Asimpih
Marion Doherty
The attached notes form part of these accounts
8
Glyndon Community Group Income and expenditure account for the year ended 31 March 2023
| Notes 2023 £ Grants and donations 2 75,000 Other income 3 94,214 Total income 169,214 Direct charitable expenditure 4 181,069 Governance costs 5 1,027 Total expenses 182,096 Surplus/(Deficit) for the year (12,882) |
2022 £ 134,013 67,570 |
|---|---|
| 201,583 | |
| 208,672 991 |
|
| 209,663 | |
| (8,080) |
The attached notes form part of the accounts
9
Glyndon Community Group Cash Flow Statement for the year ended 31 March 2023
| Glyndon Community Group Cash Flow Statement for the year ended 31 March 2023 |
||
|---|---|---|
| Notes Net cash used in operating activities 18 Interest received Change in cash and cash equivalents in the period Cash and cash equivalents brought forward Cash and cash equivalents carried forward Consisting of: Cash at bank and in hand |
Total funds 2023 £ (13,754) 4,688 (9,066) 146,507 137,441 137,441 |
Total funds 2022 £ (8,306) 3,583 |
| (4,723) 151,230 |
||
| 146,507 | ||
| 146,507 |
The attached notes form part of the accounts
10
Glyndon Community Group Notes to the Accounts for the year ended 31 March 2023
1 Accounting policies
Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention, and are in accordance the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
Incoming resources
Voluntary income and donations are included in incoming resourses when they are receivable, except when the doners specify that they must be used in future accounting periods or donors conditions have not been fulfilled, then income is deferred. The income from fees is recorded gross.
Grants receivable
Grants receivable are recorded on the accruals basis
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities have been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.
Depreciation
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided on all fixed assets at rates calculated to write off the cost on a reducing balance basis over their useful economic lives as follow:
Equipment
25%
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fees and costs linked to the stretegic management of the charity
Value added tax
Value added tax is not recoverable by the charity, and as such is included in the relevant cost in the Statement of Financial Activities
Pensions
The Charity operates a defined benefit pension scheme which are treated as a defined contribution scheme under FRS 102 as the assets of the scheme are not specifically held for the company. Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.
11
Glyndon Community Group Notes to the Accounts
for the year ended 31 March 2023
2 Grants receivable and donations
| 2 Grants receivable and donations |
|||||||
|---|---|---|---|---|---|---|---|
| 2 Royal Borough of Greenwich - commisioning funding Royal Borough of Greenwich - COVID 19 and other grants Government grants - Job Retention Scheme Friends of Glyndon |
Restricted funds £ 10,000 - - 65,000 |
Unrestricted | 2023 £ 10,000 - - 65,000 |
2022 £ 65,000 42,667 26,346 - |
|||
| funds £ - - - - |
|||||||
| 75,000 | - | 75,000 | 134,013 |
| 3 Other incoming resources Affiliation fees Coffee bar income Rental income Fitness room income Interest 4 Direct charitable expenditure Consumables Event and direct expenses Insurance Salaries and wages Pension contributions 3 Bad debts Payroll preparation fees Staff training and welfare Print, post and stationery Light and heat Water rates Cleaning and sanitation 4 Repairs and maintenance Depreciation of equipment Telephone and fax Motor and travelling expenses Sundries |
Restricted funds £ - - - - - |
Restricted funds £ - - - - - |
Unrestricted | Unrestricted | 2023 £ - 363 87,916 1,247 4,688 |
2022 £ - 122 62,960 905 3,583 |
|
|---|---|---|---|---|---|---|---|
| funds £ 363 87,916 1,247 4,688 |
|||||||
| - | 94,214 | 94,214 | 67,570 | ||||
| Restricted funds £ - - - 75,000 - - - - - - - - - - - - - |
Unrestricted | 2023 £ 354 2,453 1,322 128,291 10,108 - 488 - 1,436 15,950 850 6,479 8,114 180 2,758 1,901 385 |
2022 £ 153 1,041 1,312 122,569 31,793 16,205 483 - 1,814 9,777 1,044 4,814 13,203 360 2,326 1,043 735 |
||||
| funds £ 354 2,453 1,322 53,291 10,108 - 488 1,436 15,950 850 6,479 8,114 180 2,758 1,901 385 |
|||||||
| 75,000 | 106,069 | 181,069 | 208,672 |
12
Glyndon Community Group Notes to the Accounts for the year ended 31 March 2023
5 Governance costs
| Bank charges Independent examiner's fee 5 6 Net movement in funds for the year The net movement is after charging: Depreciation Independent examiner's fee |
Restricted funds £ - - |
Restricted funds £ - - |
Unrestricted | Unrestricted | 2023 £ 227 800 |
2022 £ 181 810 |
|
|---|---|---|---|---|---|---|---|
| funds £ 227 800 |
|||||||
| - | 1,027 | 1,027 | 991 | ||||
| 2023 £ 180 800 |
2022 £ 360 810 |
7 Staff costs
No remuneration was paid to trustees. The staff costs of the remaining staff were:
| Wages and salaries Pension contributions Payroll costs Social security costs |
2023 £ 122,876 10,108 488 3,927 |
2022 £ 121,406 31,793 483 5,397 |
|---|---|---|
| 137,399 | 159,079 |
The average weekly number of staff employed, calculated as full time equivalents during the year was as follows:
| during the year was as follows: | ||
|---|---|---|
| Direct charitable work Governance costs |
2023 4 2 |
2022 4 2 |
| 6 | 6 |
No employee received remuneration over £60,000 in the year.
Remuneration to key management personnel in the year amounted to £45,273 (2022 : £40,733)
6 Trustee remuneration and expenses
During the year no Trustees received remuneration or reimbursed expenses ( 2022: none )
13
Glyndon Community Group Notes to the Accounts for the year ended 31 March 2023
9 Tangible fixed assets
| Cost At 1 April 2022 At 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 Net book value At 31 March 2023 At 31 March 2022 10 Debtors Trade debtors 7 Cash at bank and in hand Current account Deposit account Rathbones Investment account Cash in hand 12 Creditors : amounts falling due within one year Other taxes and social security costs Accruals |
Equipment £ 16,596 |
2022 £ 14,336 |
|---|---|---|
| 16,596 | ||
| 15,876 180 |
||
| 16,056 | ||
| 540 | ||
| 720 | ||
| 2023 £ 12,283 |
||
| 2023 £ 353 2,074 135,000 14 |
2022 £ 1,486 10,007 135,000 14 |
|
| 137,441 | 146,507 | |
| 2023 £ 2,627 5,357 |
2022 £ 2,160 4,241 |
|
| 7,984 | 6,401 |
13 Analysis of net assets between funds
| Tangible fixed assets Net current assets |
Restricted funds £ - 6,000 |
Restricted funds £ - 6,000 |
Unrestricted funds £ 540 135,740 |
Unrestricted funds £ 540 135,740 |
Total £ 540 141,740 |
|||
|---|---|---|---|---|---|---|---|---|
| 6,000 | 136,280 | 142,280 |
14
Glyndon Community Group Notes to the Accounts
for the year ended 31 March 2023
14 Movement in funds
| Movement in funds | ||||||
|---|---|---|---|---|---|---|
| Incoming resources £ Restricted funds 75,000 Unrestricted funds -General funds 94,214 Total unrestricted funds 94,214 Total funds 169,214 Comparative Statement of Financial Activities Notes Incoming resources Grants 2 Other income resources 3 Total incoming resources Resources expended Direct charitable expenditure 4 Governance costs 5 Total expenditure Statement of other recognised gains and losses Net incoming resources before other recognised gains - net movement in funds 6 Total funds brought forward Total funds carried forward |
Incoming resources £ 75,000 |
Outgoing resources £ 75,000 |
At 31 March 2023 £ 6,000 |
At 31 March 2022 £ 6,000 |
||
| 94,214 | 107,096 | 136,280 | 149,162 | |||
| 94,214 | 107,096 | 136,280 | 149,162 | |||
| 169,214 | 182,096 | 142,280 | 155,162 | |||
| Restricted funds 2022 £ 65,000 - |
Unrestricted funds 2022 £ 69,013 67,570 |
Total 2022 £ 134,013 67,570 |
||||
| 65,000 | 136,583 | 201,583 | ||||
| 66,450 - |
142,222 991 |
208,672 991 |
||||
| 66,450 | 143,213 | 209,663 | ||||
| (1,450) 7,450 |
(6,630) 155,792 |
(8,080) 163,242 |
||||
| 6,000 | 149,162 | 155,162 |
15 Comparative Statement of Financial Activities
16 Company limited by guarantee
The Charity is limited by guarantee and accordingly has no share capital.
17 Corporation tax
The Charity is exempt from Corporation Tax on its charitable activities
18 Reconciliation of net movements in funds to net cash flow from operating activities
| Net movement in funds Add back depreciation Less interest received Decrease / (increase) in debtors Increase / (decrease) in creditors Net cash used in operating activities |
2023 £ (12,882) 180 (4,688) 2,053 1,583 |
2022 £ (8,080) 360 (3,583) 5,995 (2,998) |
|---|---|---|
| (13,754) | (8,306) |
15