Company registration number 6792798 Registered Charity Number 1129931
Glyndon Community Group
Financial Statements
Year ended 31 March 2025
Glyndon Community Group
## **Glyndon Community Group Report and accounts Year ended 31 March 2025**
||**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
## **Glyndon Community Group Financial Statements Year ended 31 March 2025**
**Registered charity number** 1129931 **Company Registration Number** 6792798 **Registered office** Glyndon Community Centre 75 Raglan Road Plumstead, London SE18 7LB
**Management committee** Kwasi Asare Obuor Asimpih **and Trustees** Jemima Ellis Stewart - resigned 04Feb25 Lynne Christine Chamberlain Marion Doherty Sheila Elaine Jones Laura Ezinne Obasi Linda Rosina Winslow - resigned 04Feb25 Katie Haisman - resigned 04Feb25
Unity Trust Bank **Bankers** Nine Brindley Place Birmingham B1 2HB **Independent Examiners** Michael Adamson and Co 5 Thorndon Park Close Leigh on Sea Essex SS9 4RH
1
Glyndon Community Group
## **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 2025.
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
2
Glyndon Community Group
Coldharbour Festival 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 A 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.
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 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
Glyndon Community Group
## **Review of the financial position**
The net income and resources for the year amounted to a deficit of £37,085. This was a result of increased running costs, the effect of increase in the London Living Wage of around 10% and associated on costs.
The organisation was also fortunate to receive its full £85,000 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 2025 is £57,000.00. This is included in the overall reserve fund of £57,317.57. The investment account has returned 3.5% 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
1. 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.
2. The minimum sum therefore ultimately required to be in the reserve funds is £204,470
3. This is made up of the following:
- £64,500 Three months operating costs based on 2024/25 actuals.
- £65,077 Being the cost of redundancy payments as at 31 March 2025
- £74,893 Property dilapidations.
4. The current amount of funds held in the reserve account is £317.57 at 31 March 2025 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 £317.57. The sum of £57,317.57 is held in the reserve account and the investment account and this forms part of the £64,191 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
Glyndon Community Group
## **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:
1. select suitable accounting policies and apply them consistantly;
2. make judgements and estimates that are reasonable and prudent;
3. 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;
4. 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 2025, 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:
- examine the accounts under section 145 of the Charities Act,;
- 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
- 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:
1. which gives us reasonable cause to believe that in any material respect the requirements
(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
2. 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
5 Thorndon Park Close Leigh on Sea SS9 4RH
Date :
6
## **Glyndon Community Group Statement of financial activities for the year ended 31 March 2025**
|**Restricted Unrestricted**
**Notes**
**funds**
**funds**
**2025**
**Income and expenditure**
**£**
**£**
**£**
**Incoming resources**
Grants receivable and donations
2
100,928
-
100,928
Other incoming resources
3
-
119,980
119,980
**Total incoming resources**
100,928
119,980
220,908
**Resources expended**
**Cost of generating funds**
Direct charitable expenditure
4
93,853
162,950
256,803
Governance costs
1, 5
-
1,190
1,190
**Total expenditure**
93,853
164,140
257,993
**Net (outgoing)/incoming resources for the year**
7,075
(44,160)
(37,085)
**Statement of other recognised gains and losses**
Net (outgoing)/incoming resources before
other recognised gains -
net movement in funds
6
7,075
(44,160)
(37,085)
Total funds brought forward
5,348
99,071
104,419
**Total funds carried forward**
12,423
54,911
67,334|**Restricted Unrestricted**
**Notes**
**funds**
**funds**
**2025**
**Income and expenditure**
**£**
**£**
**£**
**Incoming resources**
Grants receivable and donations
2
100,928
-
100,928
Other incoming resources
3
-
119,980
119,980
**Total incoming resources**
100,928
119,980
220,908
**Resources expended**
**Cost of generating funds**
Direct charitable expenditure
4
93,853
162,950
256,803
Governance costs
1, 5
-
1,190
1,190
**Total expenditure**
93,853
164,140
257,993
**Net (outgoing)/incoming resources for the year**
7,075
(44,160)
(37,085)
**Statement of other recognised gains and losses**
Net (outgoing)/incoming resources before
other recognised gains -
net movement in funds
6
7,075
(44,160)
(37,085)
Total funds brought forward
5,348
99,071
104,419
**Total funds carried forward**
12,423
54,911
67,334|**2024**
**£**
88,228
125,209|
|---|---|---|
||100,928
119,980
220,908|213,437|
|||250,180
1,118|
||93,853
164,140
257,993|251,298|
||7,075
(44,160)
(37,085)|(37,861)|
|||(37,861)
142,280|
||12,423
54,911
67,334|104,419|
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 2025**
|**Notes**
**Fixed assets**
Tangible assets
9
**Current assets**
Debtors
10
Cash at bank and in hand
11
**Creditors: amounts falling due**
**within one year**
12
**Net current assets**
**Net assets**
**Funds**
**Restricted funds**
14
**Unrestricted funds**
General funds
14|**2025**
**£**
967
9,738
64,191
73,929
(7,562)
66,367
67,334
12,423
54,911
67,334|**2024**
**£**
1,290
15,903
111,677
127,580
(24,451)
103,129
104,419
5,348
99,071
104,419|**2024**
**£**
1,290
15,903
111,677
127,580
(24,451)
103,129
104,419
5,348
99,071
104,419|
|---|---|---|---|
|||||
||||104,419|
||||5,348
99,071|
||||104,419|
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 2025**
|**Notes**
**2025**
**£**
Grants and donations
2
100,928
Other income
3
119,980
**Total income**
220,908
Direct charitable expenditure
4
256,803
Governance costs
5
1,190
**Total expenses**
257,993
**Surplus/(Deficit) for the year**
(37,085)|**2024**
**£**
88,228
125,209|
|---|---|
||213,437|
||250,180
1,118|
||251,298|
|||
||(37,861)|
The attached notes form part of the accounts
9
## **Glyndon Community Group Cash Flow Statement for the year ended 31 March 2025**
|**Glyndon Community Group**
**Cash Flow Statement**
**for the year ended 31 March 2025**|||
|---|---|---|
|**Notes**
**Net cash used in operating activities**
**18**
Additions to fixed assets
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**
**2025**
**£**
(50,673)
-
3,187
(47,486)
111,677
64,191
64,191|**Total funds**
**2024**
**£**
(29,222)
(1,180)
4,638|
|||(25,764)
137,441|
|||111,677|
|||111,677|
The attached notes form part of the accounts
10
## **Glyndon Community Group Notes to the Accounts for the year ended 31 March 2025**
## **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 2025**
## **2 Grants receivable and donations**
|Royal Borough of Greenwich - commisioning
funding
Royal Borough of Greenwich - other grants
CO OP
City Bridge Trust
**3**
**Other incoming resources**
Coffee bar income
Rental income
Fitness room income
Donations and other income
Interest
**4**
**Direct charitable expenditure**
Consumables
Event and direct expenses
Insurance
Salaries and wages
Pension contributions
Bad debts
Payroll preparation fees
Print, post and stationery
Light and heat
Water rates
Cleaning and sanitation
Repairs and maintenance
Depreciation of equipment
Telephone and fax
Motor and travelling expenses
Sundries||**Restricted**
**funds**
**£**
85,000
-
2,728
13,200|**Restricted**
**funds**
**£**
85,000
-
2,728
13,200|**Unrestricted**|**Unrestricted**|**2025**
**£**
85,000
-
2,728
13,200|**2024**
**£**
85,250
1,375
1,603
-|
|---|---|---|---|---|---|---|---|
||||||**funds**
**£**
-
-
-|||
||||100,928||-|100,928|88,228|
|||**Restricted**
**funds**
**£**
-
-
-
-
-||**Unrestricted**||**2025**
**£**
524
112,213
3,524
532
3,187|**2024**
**£**
637
116,820
1,604
1,510
4,638|
||||||**funds**
**£**
524
112,213
3,524
532
3,187|||
||||-||119,980|119,980|125,209|
|||**Restricted**
**funds**
**£**
292
5,527
-
85,000
-
-
-
-
-
-
-
3,034
-
-
-
-||**Unrestricted**||**2025**
**£**
292
5,527
1,354
172,656
24,668
541
505
2,098
19,077
2,184
6,211
11,776
323
6,084
2,881
626|**2024**
**£**
483
5,066
1,328
178,442
22,056
572
455
1,954
18,912
1,135
4,129
8,225
430
3,962
2,375
656|
||||||**funds**
**£**
-
-
1,354
87,656
24,668
541
505
2,098
19,077
2,184
6,211
8,742
323
6,084
2,881
626|||
||||93,853||162,950|256,803|250,180|
12
## **Glyndon Community Group Notes to the Accounts for the year ended 31 March 2025**
## **5 Governance costs**
|Bank charges
Independent examiner's fee
**Net movement in funds for the year**
The net movement is after charging:
Depreciation
Independent examiner's fee||**Restricted**
**funds**
**£**
-
-|**Restricted**
**funds**
**£**
-
-|**Unrestricted**|**Unrestricted**|**2025**
**£**
290
900|**2024**
**£**
268
850|
|---|---|---|---|---|---|---|---|
||||||**funds**
**£**
290
900|||
||||-||1,190|1,190|1,118|
|||||||**2025**
**£**
323
900|**2024**
**£**
430
850|
## **6 Net movement in funds for the year**
## **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|**2025**
**£**
163,753
24,668
505
8,904|**2024**
**£**
166,831
22,057
455
8,244|
|---|---|---|
||197,830|197,587|
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|**2025**
4
2|**2024**
4
2|
||6|6|
No employee received remuneration over £60,000 in the year.
Remuneration to key management personnel in the year amounted to £45,993 (2024 : £54,798)
## **8 Trustee remuneration and expenses**
During the year no Trustees received remuneration or reimbursed expenses ( 2024: none )
13
## **Glyndon Community Group Notes to the Accounts for the year ended 31 March 2025**
## **9 Tangible fixed assets**
|**Cost**
At 1 April 2024
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024
**10 Debtors**
Trade debtors
**11 Cash at bank and in hand**
Current account
Deposit account
Rathbones Investment account
Cash in hand|**Equipment**
**£**
17,776|**2024**
**£**
15,903|
|---|---|---|
||17,776||
||16,486
323||
||16,809||
||967||
||1,290||
||**2025**
**£**
9,738||
||**2025**
**£**
6,779
318
57,000
94|**2024**
**£**
1,649
14
110,000
14|
||64,191|111,677|
## **12 Creditors : amounts falling due within one year**
|Other taxes and social security costs
Accruals|**2025**
**£**
3,700
3,862|**2024**
**£**
10,247
14,204|
|---|---|---|
||7,562|24,451|
## **13 Analysis of net assets between funds**
|Tangible fixed assets
Net current assets||**Restricted**
**funds**
**£**
**-**
12,423|**Restricted**
**funds**
**£**
**-**
12,423||**Unrestricted**
**funds**
**£**
967
53,944|**Unrestricted**
**funds**
**£**
967
53,944||**Total**
**£**
967
66,367|
|---|---|---|---|---|---|---|---|---|
||||||||||
||||12,423|||54,911||67,334|
14
## **Glyndon Community Group Notes to the Accounts for the year ended 31 March 2025**
## **14 Movement in funds**
|**Movement in funds**|||||||
|---|---|---|---|---|---|---|
|**Incoming**
**resources**
**£**
**Restricted funds**
100,928
**Unrestricted funds -**General funds
119,980
**Total unrestricted funds**
119,980
**Total funds**
220,908
**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**
**£**
100,928|**Outgoing**
**resources**
**£**
93,853||**At**
**31 March 2025**
**£**
12,423|**At**
**31 March 2024**
**£**
5,348|
|||119,980|164,140||54,911|99,071|
|||119,980|164,140||54,911|99,071|
|||220,908|257,993||67,334|104,419|
||||**Restricted**
**funds**
**2024**
**£**
88,228
-||**Unrestricted**
**funds**
**2024**
**£**
-
125,209|
**Total**
**2024**
**£**
88,228
125,209|
||||88,228||125,209|213,437|
||||88,880
-||161,300
1,118|250,180
1,118|
||||88,880||162,418|251,298|
||||(652)
6,000||(37,209)
136,280|(37,861)
142,280|
||||5,348||99,071|104,419|
## **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|**2025**
**£**
(37,085)
323
(3,187)
6,165
(16,889)|**2024**
**£**
(37,861)
430
(4,638)
(3,620)
16,467|
|---|---|---|
||(50,673)|(29,222)|
15