Charity number: 1131604 Company number: 03415138 (England and W8Jes) ENFIELD ISLAND VILLAGE TRUST Report of the Trustees Unaudited Financiaj Statements For the year ended 31 March 2024
ENFIELD ISLAND VILLAGE TRUST Contents Page For the year ended 31 March 2024 Report of the Trustees 1 103 1ndqj9jent Examinevs RekKJrt to the Tn6tees Statement of Financial AclMti Statement of Financial R)&tk)n Notes to the Financid Statements 71014 Detsiled Statement of Financial Activities 15to16
ENFIELD ISLAND MLL4GE TRUST Report of the Trustees For the year ended 31 Mwch 2024 The Trust. who are also dir•ctor$ for the purpos06 of company law. havc plc&urc in presenting thr report and the financial slalements for the ¢haritsble company for the year ended 31 March 2024. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Ststement of Recommended Practice applicable to charities preparing their accounts in accordance th the Financial Reporting &andard applicable in the UK and the Republic of Ireland {FRS 1021 {effective 1 January 2019). PLEASE SEE TRUSTEES ANNUAL REPORT ON APPENDIX ONE. 1 of16
ENFIELD IbLAND VILLAGE TRUST Report of the Trustees Continued For the year ended 31 Mwch 2024 STRUCTUR& GOVERNANCE AND MANAGEMENT Goveming document Statement of Truslees. responsibilities Charity Trustees afe the people who serve on ihe goveming body of a charity. They may be known as Trustees, directors, board members. govwnors or committee members. The principles and rnain duties are the $aft in all cases. Trustees have. and musl accept. ultimate responsibility for directing Ihe affairs of a charity. and ensuring that it Is solvent. well-run, and meeting the needs for which it has been set up. The Companies Act 20[ requires the directors to prepare financial ststements for each financial year which give a true and fair view of the slate of affairs of th8 company and of Ihe profit or loss of the company for Ihat period. The directors ar& responsible for keeping proper accounting records which d isclosewith reasonaNe accuracy at any time the financial position ofthecompany. The charity Trustees are responsible for preparing an annual report and financial statements in COrdanCe with applicable law and United bQngdom Accounting Stsnd8rds (United lfjngdom Generally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the chartty Truslees to prepa financial ststemenls each year which give a true and fair view of the state of affairs of the charity and the incoming resources and applicab.on of resources of the charity for that period. In preparing the financial ststements. the Trustees are required to.. Sglect suStable accounting policies and applythem consistenlJy- Observe the methods and principles in the Charities SORP- Make judgements and eslimales that are reasonable and pnent State whether applicable accounting standards have been followed, subject to any rnateri81 departsjres disclosed and explained in the financial staternents.. Prgporg the ffinancial atatements on the ongoing concem basia lesS it 18 iE)appropriate to assume thal the Gharity will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reaSonae accuracy al any lime the financial position of tho charity and to ènablè thèm to 6n8ure that tho financi stotcmcnL comply with thc Choritie3 Act 2011. the Charity Ikcounts and Reports) Regulab"ons 2008 and the provisions of Ihe governing docurnent. They are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregulariknes. rynvprnino dnriirnp.nt The company registered with the Charities Commission on 14 September 2(. The governing document of the charity is thg Memorandum and CleS ofAssociation approved by the members al th& Annual General meeting on 14 July 2016. Organizational Structure The Trustees are responsible for the general control and man8gement of the charity. The Trust8es give up timè frÈèly and receive no remuneration or other financial benefits. The Trustees meet monthly and at other times when considered necessary and are responsible for all business and financial decision in relation to running the chartty. Structure, governance and management The Iruslees have considered the Charity ComnNssionS guidance on public benefit, includina Ihe quidance 'public benefit.. running 8 charity IPB2)'. 2of16
ENFIELD ISLqND VILLAGE TRUST Report of the Trustees Continued For the year ended 31 March 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Name of Charfty Charfty registration number Company registratlon number PrinGipal addretsts ENFIELD ISLAND VILLAGE TRUST 1131604 03415138 4(H2 Iblcill CeiiirE Way Enfield England EN3 6GS Trystee¥ The trustees and officers serving during the year and since the year end were as follows: Laraine Mary Hodgson Sam Coleman rim Dingle VincentGreen Frances Anneconnelly rk Busby Claire SalLKJao (Appointed: 01 April 20231 Dariusz Ludwinski {Appointed: 01 November 20231 Independent examiner Emmanuel Mensah FMAAT Ground Floor West Office 10 Nicholas HOLe. River Front Enfield EN1 3TF Approvcd by thc Board of Tru3tee8 ond 3igned on its behalf by Tim Dinglc - Tru= 3of16
ENFIELD ISLAND VILLAGE TRUST Independent Examiners Report to the Trustees For the year ended 31 March 2024 I report to the tru3tees on my $xamination ofthe aGGounts ofthe Charite company for the year ended 31 March 2024. Responsibilities and basis of rgport As the charity Trustees, who are also directors for the purposes of company law. are respoftsible for the preparation of the accounts in accordance byith the requirements of the Companies P£t 2006 {Ihe 2006 rI. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16of the 2006Acl and are eligible for independent examinabon. I report in respect of my examination of your charity's accounts carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acfl. In carrying oul my examination I have followed the Directions given by the Charity Commission under section 145{5llb} of the 2011 A£L Independent examiners Statemonl Since the Charitable company's gross income exce&Jed £250.000. your examiner musl be a member of a body listed in section 145 of the 2011 Act I confirm that l am qualifi io undertake the examination by virtue of my membership of , which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any man81 rÈspect". 1. accounting records were not kept in respect of the Company as required by seclion 386 of the 21J)6 Actr. or 2. the accounts do nol accord those records- or 3. the accounts do notcomply with the requirements ofsection 396 oflhe2006 kt other than any requirement that the accounts give a'lrue and fair view, which is not a matter considered as part of an independent examination.. or 4. the accounts hav8 not been prepared in accordance with the rrthOdS and principles of the Statement of Recommended Practic8 for accounting and reporting by charities applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Stsndard appli¢aNe in the UK and Repubiic of Ireland IFRS 102). I have no concerns and have come across no other matters in conneckn.on with the examinabon lo which attention should be drawn in this report in orderto enable a proper understanding ofthe to be reached. Emmanuel Mensah FMAAT Ground Floor Wesl Office 10 Nicholas House, River Front Enfield EN1 3TF D8te'. J)4 4of16
ENFIELD ISLAND VILLAGE TRUST Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2024 Notes Unrestrietɕd funds 2023 Income and endowments from: Charitsbte activities Investments 374,010 26.519 8.020 28,886 5,023 Other income Total 408,549 371,962 Expendlture on: Charitable activities OthAr *%p&ndiknir {319,768} {137.6171 1457,385) 1427,2641 1124,3061 (551,5701 Total Net expendlture Reconciliation of fund$ Total funds brought forward Total funds Carried forward (48,836) 1179,6081 557.163 736.771 508.327 557.163 5of16
Registe Number 03415138 ENFIELD ISLAND VILLAGE TRUST Statement of Financial Position As at 31 March 2024 Not9$ 2024 2023 Fixed assets Investments 12113 507.500 507.500 507.500 507,500 Current assets Debtors.. afnounts fairing due within one year Oeblors: amounts falling due after mre than one year Cash al bank and in hand 14 167.823 31,884 73,031 272,738 141.495 31.884 101.251 14 274,630 Gredltors- amounts falllng due wlthln one year 15 (164.841) 1100,3131 Net current assets 107,897 168,317 Total assets less cunent liabilities 615,397 675,817 183.5341 135,1201 Creditors.. amounts falling du& aftgr more than one year ProvisK)ns for liatrilti 16 171,950) 135.120) 17 Net assets 508,327 557,163 The funds of the charily Unrestricted income funds 18 508,327 557,163 Total funds 508,327 557,163 For the year ended 31 March 2024 the company was entilled to exemption from audit under secb.on 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with sectKon 476, Th¢ trutstc aGknowledge their responsibilities for Gomplying with the reqLairements of tho AGt wth r¢sp¢Gt to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies. regim. The financial statements wer& approved and alrthorised for issu8 by the PA)ard and signed on its b8half by.. Tim Dingle Truste8 6of16
ENFIELD ISLAND VILLAGE TRUST Notes to the Financia Statements For the ye& ended 31 March 2024 l. Accounting Policies Basis of accountlng The financial staternents have been prepared under the historical cost convention. except for investrnents which are included at market value and the revaluation of certain fixed assets and in accordance wilh the Charities SORP IFRS 1021 'Accounling and Reporting by Charities= Stslemenl ofRecommended Practicè applicable to charities preparing their accounL in aocordKJnec with the Financial Reportin9 Standard applicable in the UK and Republic of Ir6land (FR8 1021 {effective l January 20191.. Financial Reporting Standard 102 the Financial Reporb"ng Slandard applicable in the UK and Republic of Ireland IFRS 102). and the Companies kl 2006. ENFIELD IStAND VILLAGE TRUST meets th8definition ofa public benefitentity under FRS 102. ksets and liabilities are initially recognised at historical cost or transaction vaue unless othepmse stated in the relevant accounting policy notèl$l. Going concern The Trustees. who are also dirBGlors for the purposes of company law, are working hard to ensure the Trust remalns solvent. rruslees will continue to rnanage the TTUSt with a view to generating surplus fijnds in the future. InGowning re5oufGes All incoming resources are inclLKled in the stslement of financi81 &tivities when Ihe Trusl is entiued to Ihe income and the amount can be quantified with reasonable accuracy. There are no specific policies that are applied to particular categories of in¢ome. Resourcgs expended Liabilities are recognised as resources expended when there is 8 IjaI or constructive obligation commitbng the Trust lo the expenditure. Charitable activities These are core activities carried out by the Trust and wilhin its obJ"ectives and aim5. Taxation The Trust is exempt from corporation tsxation, however due to the re¥UatiOn of the Investment Properties. a provision for deferred 18x has been sel aside in accordance wilh the provisions of FRS 102. This is to ensure that the future tax consequences of past transactions and evenls are recognised as assets or liabilities within the Trusys financial statements. Tangible lixed assets Tangible fixed assets, other than freehold land. are slated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided 21 rates calculated to vrrite off the cost or valuation of fixed assets, less their eslimaled residual value. over their expected usefvl lives on the following basis= Depreciation is charged on a straight line basis. Dgbtors The Trust is working with the Managing Agents and other third {3rd) parlies to deterniine and work out appropriate means of collecting outstanding debts. The uncollectstAe debts will be declared as bad with 8rd approv81. where appropriate. Irrecoverable VAT Irrecoverable VAT is included in the Statement of Financial Activities. and is reported as part of the expenditure lo which it relates. 7 of16
ENFIL ISLANU VILLA(iE TKUb I Notes to the Financid Statements Continued For the year ended 31 March 2024 2. Income from charitable activities 2024 2023 Unrestricted funds Estate Management Reni Seryices Charges Interest on Rentcharge & Lale Patment Charges Reserve Fund - On Account 338.240 333,534 2,018 23.258 361.498 335,552 Communty Centre Community Centre Income Bank Inteiest 10,187 185 2.501 10.372 2,501 Ab'livily 4 Bank Interest Rentch8rge Bank Interest - Reserve Funds 1,194 2,140 374.010 338,053 3. Investment Income 2024 2023 Unrestricted funds Income from inveslmenl properties 26.400 28.357 Bank interest receivabl8 119 529 26.519 28,886 4. Other Income 2024 2023 Unrestrlcted funds Olhw Income 8.020 5.023 8.020 5,023 8of16
ENFIELD ISLAND VILLAGE TRUST Notes to the Financia statements Continued For the year ended 31 March 2024 5. Costs of charftable aGti¥itieJ by fund type 2024 2023 Unr•stridod funds E=tatc Man&igcmenl Community Centre Investment Property Expenses Support costs 271,376 311.931 17.082 16.906 8,199 23,111 98,427 319,768 427.264 6. Costs of charitable actiyities by acti type A¢tivities undertaken directly Support costs 2024 2023 Support Costs Eslale Management Community Centre Investment Property Expenses 271.376 17.082 3.757 15,966 275.133 33,048 401.410 25,854 8,199 11,587 296.657 23,111 319.768 427,264 7. Analysls of support costs Community Centre Investment Property Exponsos 2024 2023 Com. Centre Expenses Stsff Trainillg Estate Agents Fee 14.532 14.532 60 Governance Go&ts 1.434 5.19"1 98,367 15.966 23.111 98.427 90116
ENFIELD ISLqND VILLAGE TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024 8. Ngt incomg1{8xpendlturel for the year This is stated after ch?rgingllcreditingl- 2024 2023 Accountancy fees EKdtninet'5 ffes 369 3,474 g. staff costs Totsl st8ff costs for the year ended 31 March 2024 were: 2024 2023 Salaries and wages 17,082 16.906 17.082 16,906 2024 2023 Admin Support Staff 10. Comparatlve for the Statement of Financial Activitie5 The comparative year valu&% on thestatement ofFinancial tivitieS are for unrestricted fvnds. 11. Tangible fixed assets Plant and machinery Motor vehicles Fixtures and flltlngs Cost or valuation Total At 01 April 2023 Al 31 March 2024 4.575 22,333 27,552 4,575 22,333 27,552 Depreciation Al 01 April 2023 4.575 22.333 27.552 At 31 March 2024 4.575 22,333 27.552 Net book values Al 31 March 2024 At 31 March 2023 loof16
ENFIELD ISLAND VILLAGE TRUST Notes to the Financial Statements Continued For the year ended 31 March 2024 Investments 12. Analysi5 of movement of commercial investments Investment property Faif value at 01 Apri 2023 507.500 Fair value at 31 March 2024 507.500 13. Analysis of Investments between funds as at year ended 31 March 2024 2024 2023 Unrestrlcted funds Investment properties 507.500 507,500 507.500 S07.500 14. Debtors 2024 2023 Amounts duewithin oneyear. Leaseholders, Debtors 113,410 54.413 112,773 PrepaYnnts 28.722 167,823 141,495 Amounts due after more than one year. Other debtors - Historic 31.884 31.884 31.884 31,884 15. Creditors: amounts falling due within one year 2024 2023 Trade creditors (5.1901 90.967 13.386 Rent Charge in Advance Accrued Inv. Properties Rental Accruals 8.847 70,217 92,927 164,841 106,313 11 of16
ENFIELD IbLAND VILLAGE TRUST Notes to the FinanciaE Statements Continued For the Ye ended 31 March 2024 16. Creditors.. amounts falling due after more than one year 2024 2023 Loans- Bounceback 20,000 50.000 31,584 50.000 Initsal Advance to Managing Agent other credilors 1,950 1,950 71.950 83,534 The following liabilities disclosed under creditors falling due after nKJre Ih8n one year are secur1 by the charity-. Elank loans and overdrafts 20,000 31.584 20.000 31,584 17. Provlslons for Ilabllltles and ¢harges Deferred Tax - Invèstment Propertigs Provision at 01 April 2023 - deferrd tax Provision al 31 March 2024 35,120 35,120 18. Movement In funds Unrestricted Fund5 Balance at 0110412023 Incoming Outgoing resources Balance at 3110312024 Gener81 General 557.163 {457.3851 508,327 557.163 408.549 1457.3851 508.327 Unrestrlcted Funds- Previous year Balan at 0110412022 Incoming resources Outgoing resources Balance at 3110312023 General General 736.771 371.962 {551.5701 557,163 736.T11 371.962 (551.5701 557,163 12of16
ENFIELD ISLAND VILLAGE TRUST Notes to the Financial Statements Continued For the ye& ended 31 March 2024 Purpose of unrestrlcted Funds Property Income The Trust owns 2 investment properb&s. Propety Income are rents paid ty thetenants oltheTrusl. The funds are general and are applied within the objects of the Tnjst as directed by the Board. Rentcharge Income Rentcharge is payable ty some 1.314 residential and commercial units through the deed of rentcharge. The f¥Jnds are general and are applied within the objects of the Trust as directed by the Board. Community Centre Income These are fees charged for the LFse CommLbnity Centre hall, they are general and applied within the oF4'ects of the Trust. General General funds are funds available lo the Board to be used at their discretion bul within the objects of the TrusL Purpose of restricted funds Grant R¢G¢iYable Grants are restrFcted lo the use prescribed by the donors" their use canl be changed without a prtor permission from the donor. 19. Analysis of net assets between funds Tangible èd assets Invegbn•nts Net CUTnt assets I Uiabilitiesl Creditors > Provisions Net Assets one year Unrestricted funds General General 507.500 107.897 171,950) {35.1201 508.327 507.5QQ 107.897 (71,950) 135.1ZDI 500,32T Pravlous year Tangible InvestrnÈnts fixed assets Net eurrant assets I Creditors > P¥ovlslorts Net Assets one ypar Viabilities) Unrestricted fund$ General General 507,S)0 168.317 183.534) (35,1201 557,163 507.500 168,317 {83.534) (35.120) 557.163 13of16
ENFIELD ISLAND VILLAGE TRUST Notes to the Financiai Statements Continued For the year ended 31 March 2024 20. Company Ilmited by guardntee ENFIELD ISLAND VILLAGE TRUST is a company limited by grantee and xcordingly does not havea share capital. 14of16
ENFIELD ISLAND VILLAGE TRUST Detaled Statement of Financial Activities For the Ye ended 31 March 2024 2024 2023 INCOME AND ENDOWMENT Charltabla actlvltles Rent Seréices Ch8rge¥ Special Levy Interest on Rentcharge & Late Payment Charges 329.342 8,898 325,2T3 8.261 2.018 Reserve Fund- On A£counl (Estste Managemellll Community Centre Income Bank Interest 23,258 10.187 185 2,501 Bank Interest - Renlchargo Bank Interest - Reserve Funds 1,194 946 374.010 338.053 Investmgnts Property Income Bank interest receivable 26.400 28.357 529 26.519 2B.886 Other income Other Income 8.020 5,023 8.020 5.023 Total incoming r•soure 408.540 371,962 EXPENDITURE Charitable activities Cost of directcharitable activity (271,376) 1311.931} staff co8tq- % *alAri (17,082) 116.906} Cost ofdirectcharitable activity (8,1991 (296,6571 1328.837} Other Other Costs {4.165} 1133,4521 11801 {124.1261 Managing Agent 1137.6171 1124.3061 SUPPORT COSTS Com. Centre Expenses Com. Cènlre Expenses 114.5321 {14.532) Staff Training Staff Training 160} 1601 Estate Agents Feo Estate Agents Fee 13,388) 15of16 This page does not form part of the statutory financial slalements
ENFIELD ISLAND VILLAGE TRUST Detailed Statement of Financial Activities Continued For the year ended 31 M&ch 2024 (3,388} Goveman¢e costs Accountsncy fees Independent Examination fees 13691 (3,4741 (3.4801 Legal fees 1205) {83,8621 11.7021 1721 other office costs Other finance costs (Bank Charges) 172) Other office costs 11,4341 {8.8881 15.191} 198,367) Total resources expend8d {457.3851 1551.5701 Net Expendtture {48.8361 1179.6081 16of16 This page does notfomi part oflheststsrtory financial statements