Company registration number. OS707365 Charty registration number.. 1132577 Paxton Green Time Bank (A conwany limited by guarantee) Annual Report and Financia Staterrents for the Year ErTrde¢J 31 March 2023 *AC11¢0' 21112r2023 c1PANIEs trK)USE A24 51 DSK Partners LLP D S House 306 Hwh Street Croydon Surrey CR01NG
Paxton Green Time Bank Contents Trustees, Report 1 to5 Independent ExarThnerfs Report 6t07 Statement of Financial Activittes 8t09 Slalemenl of Financial Posib"ort 10t011 Notes to the Financial Stslements 121016
Paxton Green Time Bank Trustees. Report The trustees who are also directors of the charity for the purpose ol the Companies Act 2006. present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted Ihe provisions of the Statement of Recommended Practice {SORPI 'A¢counling and Reporting by Charities. issued January 2019. Objectlves and acllvlties Introduction Time banking is a continually developing and exoling way for people to wme logether to help other5 and to get help lor themselves through reciprocal volunteering and the exchange of Skills. Members 'deposiV their time in the bank by sharing skills or hdping olheis. and can spend their b'me credits on the skills and support of olher paitip3nts when they need a helping hand. riffle Banks are based on the principle of coproduction, and recognizing the assets wthin the kcal communty. Everyone's Imne is valued equafy". One hour= 1 time c¥edil People help ea¢h other out wrth everything from making phone Calls to sharing meals and giving lifts to the shops - anything that brings them togelhef. As such Time Banking has an economic benefit as well as improving well-being and buflding social netsvorks. In a time bank. everyone becomes both a gwer and a receiver. Background In February 2008 Drs Kevin Brinkhurst and Gemma Anson, GPS based at Paxton Green Group Practice IPGGPI submiited a proposal to Lambeth Primary Cafe Trust IPCTI for a lime bank in this area and were delighted when the PCT agreed funding for 2 years_ Subsequent fun¢Jing has been raised by submitb.ng bids lo potential grant givers. The current staff team consists of a Director and three part lime staff. In the first year offices were sel up in Kingswood House, and Paxfon Green Time Bank was registered as a charity with the Charity Commission. There are ujrrenty eight trustees who meet bi4nonthly. Achievements in the past year The launch of Paxton Pantry was a great suss. The ribbon was cut by Cllr Sirnmorts and we had ovef 30 farnilies visit in the first se55ion. Open every Tuesday we are ae to offer hope. dKJnity and chorce through access lo affordable healthy food. A £4.50 membership fee gNes the shopper 10 item5 Worth approximately £25430 per week. Kingswood estate was identified as a food desert in the Soulhwark council 2020 Healihy Basket reFth. and the Pantry was t4)m out of this need and through our pandèmic food parcel work. During this year we were honoured lo receive the Soulhwark Together award for community engagement We htssled inlemalional visitors, Including a tsme banker from America who worked with us for several weeks. and were able to lully retum lo face to face working and events post pandemic. We also continued to work wth our various partners such as Invisible Palace and DuNw"ch Picture Gallery. Page 1
Paxton Green fime Bank Trustees, Report Current activities and membership We are now Into Ouf fifteenth year as Paxton Green fime 8ank and are cvrTentty atrAe to offer in eXs$ of 400 different skills lo Ihe local community through our members. Thesè range from walking groups to CV writsng. a lot in befv4een. Members Come to the Time Bank thr¢xJgh GP and other piofessional referials. word ol mouth and community links to other organi5ats"ons. Our membership is divw5e. and indu(Jes many people with a variety ol ltsng-tÈm heatth conditions. both mtal and physical. Our membership ranges from people in their lale teens to their eht1es. akhough we do engage with younger people and children as part ol 'lamily membership5'. We do not require members lo divulge their age, sexuality or ethni¢ity unless they offer thÈ inf0mtIon. as Time Bankn"ng aims to be lulty indusive wth the ea 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 Chty Commission and are confmlenl thal the work of the charity meets all tre Griteria lor public benefit Plans lor futur• periods Future We look I¢)ard lo the fvture ol Paxt¢)n Green Time BanK and hope lo continue our steady growth through the 'hub' model where members come together geographicalty into smaller groups within our calchmenl area. We also look forward lo new opportunities to engage loc¥ residenls and lanmlies through our Paxton paniry. Financès We are very grateful to the fc4lwng funders from Apnl 2022 to March 2023.. Southwark Common Purpose fvnd £16.750 Prince Elizabeth & Zaiger trust £ 4,000 Amold Clarke £ 3,000 Miranda £10.000 Flnan¢lal review The Trustees, aim is to carry reserves of £40.000. In order to achieve thts, the Trustees monitor income. expenditure and cash llow through their bi4nonthty meets"ngs. The Truslees remain committed to achieving and mainta.ning this level of reserves. Page 2
Paxton Green Time Bank Trustees. Report Stru¢ture, governan¢o and manag•mMt Nature of governing document The charity is controlled by its goveming document, a deed of trust. and consth"lutes a limited company, limited by guarantee, as defined by ihe Companies Act 2006. Pa9e 3
Paxton Gmn Time Bank Trustees. Report Trustees and officers The trustees and officers serying"during the Y and Sin the year eTrJ were as folltrws." Rol¢r¢n¢¢ and Adminlstrative Detsi Charity Registration Number. Company R&gistratn NUmr.. 1132577 06707365 RegiSted Office". Paxton Gen Health Centre 1 Alleyn Park Road London SE21 8AU Trustees- Ms J D Park ISigned 12 December 2022) Miss S J Ruiter Miss D J Masters Dr l L Michell J Boateng. Chairl Mrs C A Warren. (Chairl J Weeks. {Hon. Treasurer) (resigned 3 May 20221 MsTMVNash P E Young {resigned 17 May 2023) M M Pdi lappohnted 5 O¢tober 2022} Indepèr)dent Exaniner Romil Basu FCA ' ICAEW DSK Partners LLP D S House 306 High Street Croyt1on Surrey CRO 1NG Bankers.. Barclays Bank PLC 1 Churchill Place London E14 5HP Page 4
Paxton Green fime Bank Trustees. Report 18112r2023 The annual report was approved by the trustees of the charity on .................... and signed on its behalf by.. MTS C A Warren Trvstee Page 5
Paxton Green fime Bank Independent Examinerfs Report to the trustees of Paxton Green Time Bank I'the Company.) I report to the charity trustees my exaff#nain of the accounts of the Company for the year ended 31 March 2023. Responsibilities and basis of report As the chanty's trustees of the Company lan*Y also ils direclors for the purposes of company law) you are resFKJnsible for the preparation ol the accounls in accordance vrith the requirements of the Companiès Acl 20061'lhe 2006 ACYI. Having satisfied myself that the accounls of the Company are not required lo be audited under Part 16 of the 2006 Act and are e11gible for independent examinalion. I report in respect ol my examInatn of your charity's accounts as carried out under seclion 145 of the Charities Act 2011 1 the 2011 Act'l. In Carrying oul my examination I have followed the Direclions given by the Charity Commission under secb.on 14515llbl ol the 2011 Act. Independgnt gxaminges stat•m•nt I have completed my eXaminatn. I confim that no matters have corrbe to my attention in connection wth the examinab.on giving me cause lo believe". 1. accounting records We not kept in respect of Paxton Green Time Bank as required by secb.on 386 ol the 2006 Act, or 2. the accounls do not accord with those records,. or 3. the accounts do not comply wrth the accounting requirements of sethon 396 of the 2006 Act other than any requirement that the accounts give a 'true and faif vw/ whi¢h is not a matter consBdered as part ol an independenl examination.. or 4. the accounts have not been prepared in accijrdance with the methods and principles of the Slalemenl ol Recommended PraCte for accounb.ng an¢J pon9 by charities lapplicable lo charities preparing their accounts in accordance wilh the Financkil Reportsng Standard applicable in the UK and Repubh'c of Ireland IFRS 10211. I have no concerns and have come acfOSS no other matters In conneciion wth the examinabon to whh attenlion shoLAd be drawn in Ihis report in order to enable a proper understsnding of the accounts to be reached. Page 6
Paxton Green Time Bank Independent Examiner's Report to the trustees of Paxton Green Time Bank {'the Company.) Romil Basu FCA ICAEW D S House 3Q6 High Street Croydon Surrey CRO 1NG 1811212023 Page 7
Paxton Green Time Bank Statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted fund Total 2023 Not• Income and Endowments from: Chariiable activities other income 4.770 85,787 90.557 Total in¢ome 4,774 85,787 90,561 Expenditure on- Chanlable actyvities 4.958 109.772 114,730 Totsl expenditure Nel expenditure Net movement in funds 14.958 109,772 114,730 1184} 123,985 24,1691 (184) 123,9851 (24,1691 Re¢on¢iliatlon of fvnd$ rolal funds brought forward Totsl fvnds Carried fotward 36.754 96.250 133.004 36,570 72.265 108.835 The notes on pages 12 to 16 form an integral part of Ihese finanoal statements. Page 8
Paxton Green fime Bank statement of Financial Activities for the Year Ended 31 March 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted lund$ Total 2022 Not• Income and Endowments from: Charitable activitses Other income 137,877 143.441 Tolal income 5,568 137.877 143.445 Expenditure on- Charitable a¢tivilies 8.233 {104.9231 113.1561 Total expenditu Net lexpenditureyincome 8.233 1104.923 113.1561 2.665 32.954 30,289 Net movement in fijnds {2,665) 32.954 30,289 Reeon¢lliatlon of funds Total funds brought forward Total funds carried fon41ard 39,419 63.296 102.715 36,754 96,250 133.004 All of the charity's activib'es derive from conkn"nuing operations during the above periods. The funds breakdown for 2022 is shown in note 8. The notes on pages 12 10 16 form an integral part of these finanoal stalemenls. Page 9
Paxton Green Time Bank (Regislration number: 067073651 ststement of Financial Position as at 31 March 2023 2023 2022 Note Foxed assets Tangible asse15 Current assets Cash at bank and in hand 112,154 3,320 136,Q75 Credltors: Amounts falllng due within on¢ year 3,072 N•t eurrent assels 108.834 133,003 Net assets 108,835 133.004 Funds of the charity: Restricted income funds Restricted funds 72.265 96,250 Unrestricted income funds Unrestricted funds 36.570 36.754 Total funds 108,835 133.004 For the financial year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 01 the Companies Act 2006 relating lo small compan. The members have not qUired the company to obtain an aLJit of its ffinanaal stalennts lor the year ended 31 March 2023 in accordance v*ith secb.on 476 of Ihe Companies A¢1 20C6. Oirectors. responsibilities.. ensuring that the charilable company keeps accounb"n9 reco3 that comply wth Secbons 386 and 387 of the Companies Act 2006 and preparing financial ststerrenls whi¢h give a true and lair view of the state of affairs of the charitsble company as al Ihe end of each finanoal year and of its surplus or deficit for each financial year in accordance with the requirerrEnls ol Sections 394 and 395 and which otherwise comply wilh the requirements of the Companies Act 2006 relating to finanaal slatemenls. so tsr 8$ appli¢ablÈ to the charitale ¢ompany. These financial stslements have p pared in accordance wilh the provision5 applicable lo charitable ¢ompanies subjed to the small companies regirr. The notes on pages 12 10 16 fom) an integral part of these finanaal statements. Page 10
Paxton Green Time Bank (Registration number: 06707365) Statement of Financial Position as at 31 March 2023 The financial slalements on pages 8 10 16 wefe approved by the trustees. and authorised for issue on ..1.8J.1212Q21 and signed on their behall ty.. Mrs C A Wan Trustee The notes on pages 12 to 16 form an integral part of ihese financial statements. Page 11
Paxton Green Time Bank Notes to the Flnanclal Statements for the Year Ended 31 March 2023 1 Accounting poli¢ies Statement of eomplianee The finanoal ststements of the ¢haritable ¢ompany. whith ts a public benefft enknty under FR5 102, have been prepared in accordance the Charilies SORP {FRS 102}'Arxounling and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financral Reporbng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191., Finanrial Reporting Standaid 102 The Financial Repo"n9 Slandard applicable in the UK and Republi¢ of Ireland, and the Companies Act 2006. The finanaal statements have been prepared under the historical c05t conventKJn. Basis of preparation Paxton Green Time Bank meets the definition of a publK benefit entsty under FRS 102. Assets and Iiabililies are inib.ally fecognise(l at hbstOn" cost or transath.on value unless otherwise slated in the relevanl accounting policy notes. Currèncy The finanaal 51alements are prePad In sterfing whth alw the lun¢tional currency of the company and rounded to the nearest pound. Income and endowments All income is recognised in the Statement of Fala1 Activrties once the charity has entillemertl to the fvnds. il is probable that the income will be received and the amc*Jnt can be measured reliably. Expenditure Liabilibes are recognised as expendilure as soon as there is a legal or constructive oblatM committing the charity lo that expenditure. rt Is probable that a transfer of ec¢nomi¢ benefrts will be required in settlement and the amount of the otAigation Can be measured reliably. Expenditure is accounted lor on an accruals basis and has been classified under headings Ihal aggregate all cost related lo the category. Where costs cannot be directy attributed lo parts"cular headings they have been allocated to activities on a basis consstent vAth the use of resources. Tangiblo fixed assets Tangible fixed assets held for the companls own use are stated at Cost S accumulated depreciation and accumvlaled impairment losses. Depreciation and amortisation Depreciaiion is prOVed at rates calculated to write off Ihe cost of fixed assets, le55 th¥r esbmated resbdual value, over their expe¢ted useflbl lives 8t the fo]lowing rates. Asset class Fixtures & fittings Computer equipment Depreciation method and ral¢ 25% slraighl line 25% straight line Page 12
Paxton Green Time Bank Notes to the Financial Statements for the Year Ended 31 March 2023 Taxation The charity is exempl frofll CratIon tax on its L*bantable acbvities. R•s•arch and d•velopment Re$earch and developrnenl expenditure is written off as incurred. Fund accounting Unrestricted funds can be used in accordance wrth tre ¢haritsble obJ'e¢tives al the discretion of the trustees. Reslncled funds Can onty be used for parb'cular restricted purposes within the objects of the charity. Restrictions arise when speCrfd by the donor or when fvn¢Js a raised for partKular restricted purposes. P¢n$ions and other posl retirement obligations The charitable company operales a defined conln"butK)n pensK)n scheme_ ConlriL•utign$ payable to the charitable companys pens¢on scheme are charged to the Ststement ot Financial Activities in the Per)d lo which they relate. 2 In¢ome from charitable activilies Unrestricted funds General Restricted funds Total 2023 Total 2022 Activities for generating fiJnds- Grants and donations Panty Income 4.770 73,275 12,512 78.045 12.512 143.441 4.770 85,787 90,557 143,441 3 Nel incomingloutgoing re$our¢es Net loutgoin91lincoming resources for the year indude-. 2023 2022 Independent Examination fee 1,440 1,380 4 Trustees remuneration and expense5 No trustees. nor any persons connecled wth them, have receTvetl any remuneration from the charity during the year. The amoLbnl expenses waNed by the tTUStees during the year tolalled £Nil12022 - £Nill. Page 13
Paxton Gn Time Bank Notes to the Financial Statements for the Year Ended 31 March 2023 S Staff costs The aveiage monthty number of employees during the year was as follcAvs'. 2023 No 2022 No Employees No employee received emc4umenls of more than £60,000 during the year. 6 Tangibl¢ fix•d a$s•ts Fixtures and rfftirtgs Computer equipment Total Cost At 1 April 2022 293 3,667 3,960 Al 31 March 2023 293 3.667 3.960 Depre¢lation Al 1 April 2022 At 31 Maich 2023 293 3,959 293 3,666 3,959 Net book value At 31 Maich 2023 At 31 March 2022 7 Creditors- amounts falling due within ont yèar 2023 2022 Trade creditors Other taxation and soaal seojrity Other creditors Accruals 90 1.427 363 1,440 90 1.282 320 1,380 3.320 3.072 Page 14
Paxton Green Time Bank Notes to the Financial Slatements for the Year Ended 31 March 2023 8 Funds Balance at 1 April 2022 Incoming rosourc•s Resources expended Balan¢e al 31 March 2023 Unrestricted funds General 36.754 4,774 14.958) 36,570 Restri¢ted fund$ 96.250 85,787 109,772 72,265 Totsl funds 133,004 114.730 108,635 Balancè at 1 April 2021 Incomlng resources Resources expended Balance at 31 Mar¢h 2022 Unrnstrictèd funds General 39,419 18,2331 (104,9231 36,754 Restricted funds 63.296 137.877 96,250 Total funds 102.715 143.445 113,156 133,004 9 Analysis of net assets between tunds Unrestricled funds General Total funds al 31 March 2023 Re$tri¢ted funds Tangible fixed assets Current assets Current Iiabililies 48.453 13.3201 45,134 63.701 112,154 3,320 Total nel assets 63.701 108.835 UnrÈ$trietèd funds GeneTal Total funds 0131 March 2022 Restricted tund$ Tangible fixed assets Current assets CUrt liabilities 39,825 3,072 96,250 136.075 3.0721 Total nel assets 36.754 96.250 133,004 Page 15
Paxton Green fime Bank Notes to the Financial Statements for the Year Ended 31 March 2023 10 Related party trdnsactions There were no iefated paty transactions in the year. Page 16