**REGISTERED COMPANY NUMBER: 06707365 (England and Wales) REGISTERED CHARITY NUMBER: 1132577**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **FOR**
## **PAXTON GREEN TIME BANK**
DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
**PAXTON GREEN TIME BANK**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Statement of Financial Position**||6||
|**Notes to the Financial Statements**|7|to|12|
|**Detailed Statement of Financial Activities**||13||
**PAXTON GREEN TIME BANK**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
The trustees who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities' issued January 2019.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Time banking is a continually developing and exciting way for people to come together to help others and to get help for themselves through reciprocal volunteering and the exchange of skills. Members 'deposit' their time in the bank by sharing skills or helping others, and can spend their time credits on the skills and support of other participants when they need a helping hand. Time Banks are based on the principle of coproduction, and recognizing the assets within the local community.
## Everyone's time is valued equally: One hour = 1 time credit
People help each other out with everything from making phone calls to sharing meals and giving lifts to the shops - anything that brings them together. As such Time Banking has an economic benefit as well as improving well-being and building social networks. In a time bank, everyone becomes both a giver and a receiver.
## **Background**
In February 2008 Drs Kevin Brinkhurst and Gemma Anson, GPs based at Paxton Green Group Practice (PGGP) submitted a proposal to Lambeth Primary Care Trust (PCT) for a time bank in this area and were delighted when the PCT agreed funding for 2 years. Subsequent funding has been raised by submitting bids to potential grant givers. The current staff team consists of a Director and three part time staff. In the first year offices were set up in Kingswood House, and Paxton Green Time Bank was registered as a charity with the Charity Commission. There are currently eight trustees who meet bi-monthly.
## **Achievements in the past year**
During this year we continued to deliver our Southwark food hub work, supporting over 200 isolating or vulnerable households with food every week. As restrictions lifted we were able to wind this work down, and focus on the new Pantry project (due to open summer 2022). As 2022 got underway we were able to slowly restart face to face activities, including a weekly drop in, art class, and IT lessons. We also had several trips out to places including Kew Gardens and the Victoria and Albert Museum, and some of our members were involved in a new community exhibition at the Dulwich Picture Gallery.
## **Current activities and membership**
We have now completed our fourteenth year as Paxton Green Time Bank and are currently able to offer in excess of 400 different skills to the local community through our members. These range from walking groups to CV writing, with a lot in between.
Members come to the Time Bank through GP and other professional referrals, word of mouth and community links to other organisations. Our membership is diverse, and includes many people with a variety of long-term health conditions, both mental and physical. Our membership ranges from people in their late teens to their eighties, although we do engage with younger people and children as part of 'family memberships'. We do not require members to divulge their age, sexuality or ethnicity unless they offer the information, as Time Banking aims to be fully inclusive with the idea that an hour is an hour to anyone.
## **Public benefit**
The Trustees have paid due regard to the guidance on public benefit produced by The Charity Commission and are confident that the work of the charity meets all the criteria for public benefit.
Page 1
**PAXTON GREEN TIME BANK**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **OBJECTIVES AND ACTIVITIES**
## **Future**
We look forward to the future of Paxton Green Time Bank, and hope to continue our steady growth through the 'hub' model where members come together geographically into smaller groups within our catchment area. We are also looking forward to opening our Pantry, where we will be providing access to cheap healthy foods.
## **Finances**
We are very grateful to the following funders from April 2021 to March 2022:
||£||
|---|---|---|
|Southwark Common Purpose fund|16,750||
|||(For work Planned financial year|
|09/2021 Southwark Health Improvement Grant|37,500|22/23)|
|Prince Elizabeth & Zaiger trust|4,000||
|Big Lottery-Reaching Communities Yr 3 of 3|67,040||
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees' aim is to carry reserves of £40,000. In order to achieve this, the Trustees monitor income, expenditure and cash flow through their bi-monthly meetings. The Trustees remain committed to achieving and maintaining this level of reserves.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
06707365 (England and Wales)
## **Registered Charity number**
1132577
## **Registered office**
Paxton Green Time Bank Paxton Green 1 Alleyn Park London SE21 8AU
## **Trustees**
Ms J D Park ( Vice Chair ) Miss S J Hill Miss D J Masters Dr I L Michell J Boateng Mrs C A Warren ( Chair ) J Weeks ( Hon. Treasurer ) (resigned 3.5.22) Ms T M V Nash P E Young (appointed 15.3.22)
Page 2
**PAXTON GREEN TIME BANK**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Romit Basu FCA ICAEW DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
## **Banker**
Barclays Bank PLC 1 Churchill Place, London, E14 5HP
Approved by order of the board of trustees on 28 November 2022 and signed on its behalf by:
Mrs C A Warren - Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PAXTON GREEN TIME BANK**
## **Independent examiner's report to the trustees of Paxton Green Time Bank ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
## **Independent examiner's statement**
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:
1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Romit Basu FCA ICAEW DSK Partners LLP D S House 306 High Street Croydon Surrey CR0 1NG
28 November 2022
Page 4
**PAXTON GREEN TIME BANK**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Activities for generating funds - Grants and
donations
5,564
Other income
4
**Total**
5,568
**EXPENDITURE ON**
**Charitable activities**
Strengthening and supporting people and their
communities.
8,233
Other
-
**Total**
8,233
**NET INCOME/(EXPENDITURE)**
(2,665)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
39,419
**TOTAL FUNDS CARRIED FORWARD**
36,754|Restricted
fund
£
137,877
-
137,877
103,288
1,635
104,923
32,954
63,296
96,250|2022
Total
funds
£
143,441
4
143,445
111,521
1,635
113,156
30,289
102,715
133,004|2021
Total
funds
£
149,496
38|
|---|---|---|---|
||||149,534|
||||133,908
2,248|
||||136,156|
||||13,378
89,337|
||||102,715|
The notes form part of these financial statements
Page 5
**PAXTON GREEN TIME BANK**
## **STATEMENT OF FINANCIAL POSITION 31 MARCH 2022**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
6
1
**CURRENT ASSETS**
Cash at bank and in hand
39,825
**CREDITORS**
Amounts falling due within one year
7
(3,072)
**NET CURRENT ASSETS**
36,753
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
36,754
**NET ASSETS**
36,754
**FUNDS**
8
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
96,250
-
96,250
96,250
96,250|2022
Total
funds
£
1
136,075
(3,072)
133,003
133,004
133,004
36,754
96,250
133,004|2021
Total
funds
£
1
143,888
(41,174)
102,714
102,715
102,715
39,419
63,296
102,715|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 28 November 2022 and were signed on its behalf by:
C A Warren - Trustee
The notes form part of these financial statements
Page 6
**PAXTON GREEN TIME BANK**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
## **Currency**
The financial statements are prepared in sterling which is also the functional currency of the company and rounded to the nearest pound.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives at the following rates.
Fixtures & fittings - 25% straight line Computer equipment - 25% straight line
Assets held under finance leases are depreciated in the same way as owned assets.
At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
continued...
Page 7
**PAXTON GREEN TIME BANK NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **1. ACCOUNTING POLICIES - continued**
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **2. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||2022|2021|
|---|---|---|
||£|£|
|Independent Examination Fee|1,380|1,380|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
## **4. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **5.**
|Employees
No employees received emoluments in excess of £60,000.
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Activities for generating funds - Grants and
donations
7,342
Other income
38
**Total**
7,380
**EXPENDITURE ON**
**Charitable activities**
Strengthening and supporting people and their
communities.
6,897
Other
-
**Total**
6,897|2022
5
Restricted
fund
£
142,154
-
142,154
127,011
2,248
129,259|2021
5
Total
funds
£
149,496
38|
|---|---|---|
|||149,534|
|||133,908
2,248|
|||136,156|
continued...
Page 8
**PAXTON GREEN TIME BANK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
fund
fund
£
£
**NET INCOME**
483
12,895
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
38,936
50,401
**TOTAL FUNDS CARRIED FORWARD**
39,419
63,296
**6.**
**TANGIBLE FIXED ASSETS**
Fixtures
and
Computer
fittings
equipment
£
£
**COST**
At 1 April 2021 and 31 March 2022
293
3,667
**DEPRECIATION**
At 1 April 2021 and 31 March 2022
293
3,666
**NET BOOK VALUE**
At 31 March 2022
-
1
At 31 March 2021
-
1
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2022
£
Trade creditors
90
Social security and other taxes
1,282
Other creditors
320
Wages payable
-
Accruals and deferred income
1,380
3,072|Total
funds
£|
|---|---|
||13,378
89,337|
||102,715|
||Totals
£
3,960
3,959
1
1
2021
£
-
1,411
403
480
38,880
41,174|
continued...
Page 9
**PAXTON GREEN TIME BANK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **8. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**|At 1.4.21
£
39,419
63,296
102,715
Incoming
resources
£
5,568
137,877
143,445
At 1.4.20
£
38,936
50,401
89,337|Net
movement
At
in funds
31.3.22
£
£
(2,665)
36,754
32,954
96,250
30,289
133,004
Resources
Movement
expended
in funds
£
£
(8,233)
(2,665)
(104,923)
32,954
(113,156)
30,289
Net
movement
At
in funds
31.3.21
£
£
483
39,419
12,895
63,296
13,378
102,715|
|---|---|---|
continued...
Page 10
**PAXTON GREEN TIME BANK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **8. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**|Incoming
resources
£
7,380
142,154
149,534|Resources
Movement
expended
in funds
£
£
(6,897)
483
(129,259)
12,895
(136,156)
13,378|Resources
Movement
expended
in funds
£
£
(6,897)
483
(129,259)
12,895
(136,156)
13,378|
|---|---|---|---|
||||13,378|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**|At 1.4.20
£
38,936
50,401
89,337|Net
movement
in funds
£
(2,182)
45,849
43,667|At
31.3.22
£
36,754
96,250|
|---|---|---|---|
||||133,004|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Restricted General Fund
**TOTAL FUNDS**|Incoming
resources
£
12,948
280,031
292,979|Resources
Movement
expended
in funds
£
£
(15,130)
(2,182)
(234,182)
45,849
(249,312)
43,667|Resources
Movement
expended
in funds
£
£
(15,130)
(2,182)
(234,182)
45,849
(249,312)
43,667|
|---|---|---|---|
||||43,667|
continued...
Page 11
**PAXTON GREEN TIME BANK**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022**
## **9. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2022.
Page 12
**PAXTON GREEN TIME BANK**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022**
|**INCOME AND ENDOWMENTS**
**Charitable activities**
Grants
**Other income**
Bank interest income
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Wages
Social security
Light and heat
Telephone
Sundries
Event running costs
General admin expenses
Travel and meeting cost
Rent
Professional fees
Insurance
Childcare
Projects
**Other**
Pensions
**Support costs**
**Finance**
Bank charges
**Governance costs**
IE Fee
Total resources expended
**Net income**|2022
£
143,441
4
143,445
78,473
2,231
497
2,235
1,346
12,665
3,339
730
-
819
1,348
-
5,842
109,525
1,635
181
1,815
113,156
30,289|2021
£
149,496
38|
|---|---|---|
|||149,534
106,123
4,524
-
2,050
2,803
4,136
2,790
742
2,800
778
670
96
4,575|
|||132,087
2,248
117
1,704|
|||136,156|
|||13,378|
This page does not form part of the statutory financial statements
Page 13
## **SIGNATURE CERTIFICATE**
## Document
Name **PGTB Full Accounts 31.03.2022.PDF** Creator **Yeliz Kaptan (yeliz.kaptan@dskllp.com)** Date **28 November 2022 12:58:11 UTC** Identifier **19b1fa7d-309f-4038-8d53-438f4aea11ec**
## Signers
## **christine.warren3@btinternet.com**
E-mail **christine.warren3@btinternet.com** Signed **30 November 2022 16:19:08 UTC** IP address **86.160.116.22**