Cbarity number: 1130043 Company number: 06406353 Southwark Group Of Tenants OrganlsatioD (A company ]Imited by guarantee) Trustees, report and financial statements for the year ended 31st March 2024
Southivark Group Of Tenants Organlsatlon (A company limited by guarantee) Contents Page Lcgal and administrative inforn]ation Tntc¢S, report Independent examiners, report ststement of financial activiti¢s Balance sheet Notes to the financial statements 10-14
Southwark Group Of Tenants Organisation (A Company Ilmited by guarantee) Legal and administrative inforniation Charity number 113(XM3 Company registration number 06406353 Buslness address Bells Gardens CornmuJ]ity Centre 19 Buller Close LondoD SE15 6UJ Reglstered office Bells Gardens Community Centre 19 Buller Close London SE15 6UJ Trustees Chris MeregiDi (Cbair) Christine Glaridgc Althea Smith cy Sergeant Saidat Okelunde Christina Metibemu Jolmson Mccalthy Kiii Picri AL-issa Munu Jacqueline Martin Emmanuel Ojomo Kyle Sinynonds Seeretary M Onwuts Accountants Kleinn)an Graham 2nd Floor Unicorn House Station Close Potters Bar Hertfordshire EN6 ITL Ballkers Lloyds TSB 25 Camberwell Green London SE5 7AB Page I
Southwark Group Of Tenants Organisation (A company limited by guarantee) Report of the trustees (incoryorating tbe directors, report) for the year ended 315t March 2024 The trustees present their report and the financial statements for the year ended 31 st Marcb 2024. The trustee& who are also directors of Southwark Group Of Tenants Organisation for the purposes of company law and who served during the year and up to the date of thi5 report are set out on pag¢ l. Structur4 governance and management Southwark Group of Tenants Organisation is governed by the TnteeS Board which.. Sets thc policy of the charity Detennines corylorate strategy> including setting key strategic objectives Makes major decisions about tbe use of fman¢e S¢ts a framework for human resour¢es policy Objectives And aetlvltles The objrxtive of the charity is to promote the benefit of the council tenants and residents of Southwark by associating together local authorities, voluntary or8anisations and residents in a common effort to improve the quality of housin8 for the council tenants and residents. We continue to promotc thc interests of tellt5 and residents associations in the Borough of Soutbwark by providing an engaging platforn) that enhances illfom]ation 5haiin8 and best practice among members. by offering supporL training, advice and resources for their benefits. We promot¢ th¢ right of tenants including thosc from minority ethnic groups to exercise control ovcr their housing and cnvironment by inforniation sharing between the organisations and the local authority We continue to work with tenants and residents from the minority ethnic groups to extend their right to participate and be consulted in the forn]ulation of council policies on bousing and associated issues and to be represented on all matters and policies that involve them and their homes, by offering training and providing infonnation througb our regular newsletter and website. We work with tenants to enhance their confidence and mak¢ them aware of the local authority consultation structur¢ and their right to participate in such structure. Our Resource Centre provides regular support with IT skills which allow members to put back into their associations which is belping to promote con]rnunity activity and development. We promote the harn]ODiOUS fill]ctioning of a mulii¢ultur81 community and work towards the elimination of all forn)s of racism and discrimination within thc community by providing adequate facilities and bcspok¢ support to cater for all stiOnS of the community, and address th¢ areas where communication breaks down b¢¢ause of language barrA¢rs, disabilities and lack of und¢rstanding. We have an input on policxes in our role as th¢ urnbrella up representing tenants and residents associations throughout the borough by providing a better standard of relaying inforniation back to tenants and residents on CUTrent housing issues and by analysing present or proposed government and local authority hou5iDg policies and legislation Wc partnersbip with other organisations who slwe ow objectives, int¢rests and aspirations by providing a networking forunL inforntstion service with regular monitoring 8md evaluation of our services to enabl¢ development and growth in the years to com¢. We aim to achieve all the abov¢ so that tenants and residents, including thos¢ from thc minority ethnic groups can have the inforn]ation to help with their campaigns for better homcs, to be trained to know the local authority's consultation structure so that there is better tenants, participation which will allow representation of all rnelnbers of the community to be involved. Page 2
Southwark Group Of Tenants Organisation (A company Ilmited by guarantee) Report of tbe trustees (incorporating the dlrectors, report) for the year ended 31st March 2024 Risk mt7nagement The major risks to which the charity is exposed hav¢ been identified and considered. Th¢y have been r¢vi¢wed and Systems established to mitigate these risks. The rnost significant risk identified. was the impact of depreciating council housing stock as illustrated in the current Housing Commission Report, which will reflect on funds available to tenants and the impact of recession on levels of income as well as the impacts of the present Welfare Refonn. These factors have been careIlY considered and are rnanaged as follows: - The orgatiisation is currently exploring other fundiDg streams to cary out specific projects in addition to thc fimding available through the tenants, fund. The future plan is to fd other funding strategies. - Income and expenditure is monitored in total and is compared with the approved plan to detect trends as part of the risk management proc¢ss to avoid unforeseen Calls on reserves. Aehievements and performance Dwing the year, we continuc to provide support to council tenants and residents associations in the Borough of Southwark. We continu¢ to provide services to our members b&s¢d on their individual requirements and support needed to ensure that our collective objectives are achieved. Trainlng Our parthcr5hips with other voluntary sectors have helped to develop and deliver free training in areas of employment and capacity building for council tenants and residents. Free equipment hire As in previous years, we continue to provide thesc services free of charge to community organisations in the borough with a view to purchase additional and update certain lten. Free aecounl reconciliation We have helped many tenants associations with the verification of their counts free of charge and offered advice on how to adopt good bookkeeping. Siaffdevelopment Our priority is to invest in training of all employee8 in areas that will continue to enhance their individual personal development. This will lead to an increased level of staff morale. Real time support We continue to support tenants and resIdtS with housing relat¢d issues, such as the bedroom tax through our Campaig Team and where we cannot help solve their problem, we have signposted to the relevant organisations who can assist them resolve their specific housing related issues. Bells Gardens Community Cenlre We took over the management in December 2011, and since then, we have turned around the community ccntre to make it accessible to the tenants and residents within the Commurrity. We have invested in esseThtial amenities such as, new appliances along with a new fitted kitchen. new tables and chairs for each ball, reecOrated, and cleaned regularly. There is now a caretaker who ensures that the standard is ntsintained. We have made Be115 Gardens Community Centr¢ a very attractive venue for community based projects and popular for meetings. Financial review A Budget IS Set at the begtnning of each financial year, taking into account ILnown and anticipatrd funding. Monthly ryorts of iDcome and expenditure are prepared by the Senior Manager and compar¢d with the budget. These reports are considered by the TnteeS at their regular montbly meetings. Page 3
Southwark Group Of Tenants Organisation (A company limited by guarantse) Report of the trustees (incorporating the directors, report) for the year ended 31st March 2024 Total income for the year amountcd to £277.794 (2023: £297,970). This includes incoTne from the tenant fund of £228.(K)0 (2023: £233.000) and income from Bells Gardens Community Centre £21.570 (2023.. £21.000). Total expenditures (including depreciation) was £259.510 (2023 £239.033). Reserve polic), The charity's policy regarding its reserve 15 to Tnaintain liquid reserves equivalent to at least 3 months. Our reserves reflect not only the resources required io fijnd the charity'% day-to-day operation but also to cover our plans for the future. Statement of trustees, responsibilitles The truslees (who are also direciors of SouthwaTk Group Of Tenants Organisation for the puyTrose of company law) are responsible for preparing ihe TrusLees' Annual Report and the financial stat¢Tncnt.s in accordance wilh applicable law and Uniied Kingdom Generally Accepted Accounting Practice. Cornpany law requires the trustees to prepare financial staiements for each financial year which give a true and fair view of the siale of affairs of the thItable company and of the incoming resources and application of resources, including the incorne and expendicure. of the charitable company for that period. In preparing ihese financial statements, the tnistees are required to.. select suitable accounting policies and then apply them consistently. observe the methods and principles in the ch]11C8 SORP; make judgemcnts and estimates that are reasonable and prndent; s(a(e whether applicable UK Accounting Standards havc been followed. subject lo any material depariures disclosed and explained in the financial statements: and prepare the financial statements on thc going concern basis unless it is inappropriate to PTe5ume that the charilable company will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at aT]y time the financial position of the charitable company and which enable them to ensure that the financial stalements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and henLe for taking reasonable steps for the prevention and deleclion of fraud and oiher irregularities. Small company provislons This 'rcport has been PTepared in accordance with thc special provisions for small companies under Parl 15 of the Companie5 ALL 2006. Page 4
Southivark Group Of Tenants Organisatlon (A company limited by guarantee) Report of the trustees (ineoryorating the directors, report) for the year ended 31st March 2024 OD bel]alf of thc board Chrls M Director 23rd July 2024 Page S
Southwark Group Of Tenants Organlsatlon (A eompany limited by guarantee) Independent examlner'8 report to the trustees on the unaudited flnantlaj statements of Southwark Group Of Tenants OrgAnisatlon. I report on Ihe accounls of Southwark Group Of Tcnants OrganitIon for the year ¢nded 31st Mch 2024 set oul on pag¢s 2 to 14. Respeetlve responsibitities of trnSteeJ And Independent exY4mlner As the truste of ibe Company (and a150 its dircctors for the pu05¢9 of company law) you Are responsibl¢ for th preparation of the financial 8tot¢nwits in 8ccordanc¢ with th¢ r4uirements of th¢ Companics Act 2006 {Ihe 2006 Ace). Having sattsfied myself that the accounts of the company ar¢ not required to be auditcd Ulldw Part 16 of the 2006 kn¢ nd Bre eligible for independent examin4lion, I report in respect of my exdminaiion of the charity8 accounts 08 ¢8ffied out under s¢clion 145 of lh¢ Chariti¢s Act 2001 Ilhe 2011 A¢V). In canying out my ¢xamination I have followed the Directions given by the Charity Commission under seotion 145(5)(b) ofthe 2011 ACL Ba8ts of Andependent examlner'$ statement My examlnation was caffled out in accordance with th¢ Genernl Directions given by the Clwity Commi88ion. An cxamiftation includcs a review of the accounting record8 kept by the thariry a comparison of the accounts presenied with thos¢ re¢ord& li 8180 includcs consi(kration of any unusual ilems or disclosures in the accounts, And seeking explaMtion8 from you AS Iruslees concerning ally such matters. Thc procedures Uimlertakeo do not providc all the ¢vldencc Ihat would be required in an audit and tonsequently no opinion is given as to wh¢¢h¢r th¢ accounts present 4 and falr vlew and the report is limil¢d to thosc matters sct out in the statcmcnl below. Iodependent exflmlner's itotement I have ¢ompleted my cxaminatioL I confirnj that no matters have como to my attention in connection with the examination 8lvlng me oau8e to believe.. accounting records werc not kept in respect on the cbarity a8 rcquired by section 386 of the 2006 Act; or to keep proper accouThtin8 Yecords in accordanea ivitb seclion 386 of tbe Conwanies Act 2006; and th¢ financi81 stat¢nMts do no¢ 8c¢ord with th08¢ re¢ord8: or the fitt8neial statements do not comply with the accounting requir¢m¢nts of section 396 of the 2006 Act other than any requircnmt thNt accounts 8ive B'truc and fail vicw whith is not a matter ¢on8idered #8 part of an independent examination. or the fmgncial statements have not been prepared its accordance with the methods and principles of the Statement ofRecomnKnd¢d Prac1ice for A¢cowiting and reporting by charities applicable to charities piYparin8 their a¢¢oiints in Acra8ce wlth Flnaucilll Reporting Standard p15¢abl¢ in thc UK and K¢publi¢ of Ireland (FR8 102). Mr Jason Bennett FCA Independent eJamln¢r Klcinman Graha Chartcred AccounlADts and Re8lSt¢red Auditors 2nd Floor, Unicorn House Station Clos¢ Potters Bar EN6 ITL Page 6
Southwark Group Of Tenants Organisatlon (A company limited by guarantee) Statement of financial activlties (incoryoratlng the income and expenditure account) For the year ended 31st March 2024 Unrestrlcted funds 2024 Total 2023 Total Notes Ineomlllg resources Incoming resour¢es from gencrating fimd8: Voluntary income Activities for gcn¢rating funds Investment income Other incomin8 resources 252.000 21.570 2,050 2,174 252,000 21,570 2,050 2,174 275,3(Ki 21,000 291 1.379 Total incomlng resources 277,794 277,794 297.970 Resources expended Costs of generating funds: Cost of generating voluntary in¢ome Governance costs 249,903 2,607 249,903 2.607 236,114 2,919 Total resource5 expended 252,510 252,510 239,033 Net incomlng resources for the year I Net fincome for the year 25,284 25.284 58,937 Total funds brought forward 197,334 197.334 138,396 Total funds ¢arrled forward 222,618 222,618 197,333 The notes on pages 10 to 14 forni aD integral part of these financial statemen Page 7
Southwark Group Of Tenants Organisatlon (A company limlted by guarantee) Balance sheet as at 31st March 2024 Company number: 06406353 2024 2023 Notss Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 12 3,485 4,646 13 90 230,070 199,748 230,160 199,748 Creditors: amounts falliDg due within one year 14 (11,028) (7,059) Net current assets 219.132 192,689 Net Assets 222.618 197234 Funds Unrcstricted income fimds 222,618 197.334 Total funds 222,618 197,334 Th¢ Balance Sheet continues on the following pag¢. The Dotes on page5 10 to 14 form an integral part of these fanCial statements. Page 8
Southwark Group Of Tenants Organisation (A company limited by guarantee) Balance sheet {continued) Trustees statements required by the Companies Act 2006 for tbe year ended 31st March 2024 In appmving these financial statements as trustces of the company we hereby confinn.. (a) that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 . (b} that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 r¢questing tbat an audit be conducted for the year ended 31st March 2024. (c) that we acknowledge our responsibilities for: (l) ensuring that the company kc¢ps PToper accounting r¢cords which comply with section 386 of th¢ Companies Act 2006, and (2) preparing fanCIal staten]eDt$ which give a true and fair view of the state of affairs of the company as at th¢ ¢nd of thc financial year and of its Profit or loss for the year then ended in a¢¢ordance with the requirements of scctions 394 and 395, and which otherwise comply with the provisions of the Companies Act r¢lating to fanCIal statements, so far as applicable to the Company. These fmancial statements are prepared in accoTdance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Financial Reporting Standard for Smaller Entities (effectivc April 2008). Th¢ fllwicial stst¢nKnts w¢r¢ approved by the Intste¢s on 23rd July 2024 and SAed on its behalf by Chri5 Me Dlrector halr) The note5 on pages 10 to 14 forn) an integral part of these Ilnydnclal statements. Page 9
Southwark Group Of Tenants Organisation (A company limited by guarantee) Notes to financial statements for the year ended 31st March 2024 Accountlng policies The principal accounting policies arc sumMsed below. Th¢ accountillg policies bave been applied consistendy throughout the year and the preceding year. 1.1. Statement of complianee The fmancial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, The Satement of Recomrnended Practice applicable to chariti preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)} and the Companies Act 2006. 1.2. Incoming resources All incoming resource5 are included in the ststement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following spccific policies are applied to particular categories of incom¢: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of fmancial activities when receivable. Grants where entitlemcnt is not conditional on the delivery of a specifi perf0M]ce by the charity, are recognised when the charity bccomcs unconditionally entitled to the grant. Donated scrvices and facilities are included at the value to the charity where this can be quantified. Thc value of services provided by volunteers has not been included. Gifts donatcd for resale are included as incoming resourccs within activities for generating fimd5 when they are sold. Grants, including grants for the purchase of fjxed assets, are reco8niscd in fidl in the statement of financial activities in the year in wluch they are receivable. Income from investments is included in the year in which it is receivable. 1.3. Resources expended Expenditure is rccognised on an accrual basis as a liability is incurred. Expendith includes any VAT which cannot be fully recovered, and is rqjorted as part of the expenditure to which it relates. Costs of g¢nerating fimds compris¢ the costs associated with attracting voluntary income and the ¢osts of trading for fundraising puryos¢s including the charity's $hop. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its b¢n¢ficiY4ries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature nece58ary to SUPPOrt thcm. Support costs are those costs incurred directly in support of expenditure on the objects of the clwity and include project managernent. IA. Tangible fixed assets and depreciatio Tangible fed assets are stated at cost less accumulated depreciation. Depreciation 15 provided at rates calculated to write off the cost less residual va]ue of each asset over its expected useful life. as folluws: Fixttwes, fittings and equipment 250/0 Reducing balancc Page 10
Soutbwark Group Of Tenants Organisation (A eompany Ilmited by guarantee) Notes to financial statements for the year ended 31st March 2024 Voluntary Income Unrestricted funds 2024 Total 2023 Total Grants receivable 252,000 252,000 275.300 252,000 252,000 275,300 Actlvltles for generating funds Unrestrleted runds 2024 Total 2023 Total Bells Gardens Hall Hire 21,570 21,570 21,000 21,570 21,570 21,000 Investment Income Unrestrlcted funds 2024 Totsl 2023 Total Bank interest reccivablc 2.050 2,050 291 2,050 2,050 291 Other incomlng resources Unrestrlcted funds 2024 Total 2023 Total Other income 2,174 2.174 1,379 2,174 2,174 1.379 Cost of generatlng voluntary Income Unrestrl¢ted funds 2024 Total 2023 Total Support costs 249,903 249,903 236.114 249.903 249,903 236,114 Page 11
Southwark Group Of Tenants Organlsation (A company limited by guarantee) Notes to Ilnancial statements for the year ended 31st March 2024 Governance costs Unrestricted funds 2024 TotAI 2023 Total Accountancy fees Legal and professional fees Ballk cbarges 2.094 396 117 2,094 396 117 2,407 396 116 2.607 2,607 2,919 Analysls of support cost$ Cost of generatlng voluntary GovernAn¢e Income costs 2024 Total 2023 Total Purchases Staff costs Premiscs expenses Motor and travelling costs Accountancy clwges tKgal and professional fees Communication and infornmtion te¢hnology Other office expenses Interest payable and similar charges Depreciation and impairn]ent Advertising Conferences attd training 1,151 212,064 2,166 150 1.151 212,064 2,166 150 2.094 396 3,390 25,569 117 1,161 2,518 1,734 196.912 6.091 2,094 396 2,407 396 2,987 21,825 116 1.548 337 6.414 3.390 25,569 117 I,l61 2,518 1,734 249.903 2,607 252,510 239,033 Net incomlng resources for the year 2024 2023 Net incorning resources is Stated after charging: Depreclation and otbcr amounts written off tangible fixed assets 1,161 1,548 Page 12
Southwark Group Of Tenants Organlsation (A company limited by guarantee) Notes to financial statements for the year ended 31st March 2024 10. Employees Employment costs 2024 2023 Wages and sa1]eS Social SCCUTity costs Other post retirement bcncfits 184,304 16,857 10,903 170,946 16,116 9,850 212,064 196,912 No employee received emoluments of more than £60,000 (2023 . None). Number of employees The average monthly numbers of employees (includin8 the trustees) during tbe year, calculatcd on the basis of full time equivalents, wa8 as follow5: 2024 Number 2023 Number 11. Taxatlon The charity's activities fall within the exemptions afforded by the provisions of the Income and cooration Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. Flxthres. rittlngs aDd equlpment 12. Tanglble fued assets Total Cojt At I st April 2023 and At 31st March 2024 20,408 20,408 Depreciation At I st April 2023 Charge for the year 15,762 15,762 1,161 At 3 1st March 2024 16,923 16,923 Net book values At 3 1st March 2024 3,485 3,485 At 3 1st March 2023 4,646 4,646 Page 13
Southwark Group Of Tenants OrgaDRsation (A company limited by guarantee) Notes to financlal statements for the year ended 31st March 2024 13. Debtors 2024 2023 Trade debtors 90 14. Credltors: amounts falllng due wlthin one year 2024 2023 Other tsxes and social security AC¢nlS and deferred incom¢ 6.827 4,201 2,858 4.201 11.028 7,059 15. Company Ilmlted by guarydntee Southwark Group Of Tenants Organisation is a company limited by guarantee and accordingly does not have a share capital. Every member of thc company undertakes to contribute such amount as may be required not exceeding £1 to thc asscts of the charitsble company in the event of its being wound up while hc or she is a rnembcr. or within one year after he or she ceases to be a member. Page 14
Southwark Group Of Tenants OrgaDisation (A company limited by guarantee) The following pages do not form part of the statutory accounts.
Southwark Group Of Tenants Organisation (A company limited by guarantee) Detailed statement of financial activities For the year ended 31st March 2024 2024 2023 Incoming resources Incoming resources from generating funds: Voluntary income Grants receivable 252,000 275,300 252,000 275,300 Acliviliesfor generatingfunds Bells Gardens Hall Hxre 21,570 21,000 21,570 21,000 Inveslment income Bank interest receivable 2,050 291 2.050 291 Total incoming re$ouree8 from generadng fund8 275,620 296.591 Other incomlng resources Other income 2,174 1,379 2.174 1,379 Total Incomlng resources 277,794 297,970 Resources expended Costs of generating funds: Support costs Cornm]ty frid8e purchases Wages & salaries Employees NIC Stsff p¢nsion costs Premises, cleaning, upkcep, repairs and insurance Travel, subsistence and childcare Computer expenses Telephone, printing, postage and ststionery Depreciation & impainnent Event costs Conferences and training 1.151 184,304 16,857 10,903 2,166 150 3,390 25,569 1.161 2,518 1.734 170,946 16,116 9.850 6.091 2.987 21.825 1.548 337 6,414 249,903 236,114 Total cost of generating voluntary income 249.903 236,114 Fundraising tradlng: cost of goods sold and other costs Total costs of generating funds 249,903 236,114 Page 16
Southwark Group Of Tenants Organisation (A company limited by guarantee) Detailed statement of financial activfitles For the year ended 31st March 2024 2024 2023 Charltable acdvities GovernaDce costs Support costs Accountancy fees Legal and professional fees Bank charges 2.094 396 117 2,407 396 116 2,607 2,919 Total governance costs 2.607 2.919 Net Incomlngl(outgofing) resources for the year 25.284 58,937 Page 17