COMPANY REGISTRATION NUMBER: 07210251 CHARITY REGISTRATION NUMBER: 1136559
Hornsey Lane Estate Community Association Company Limited by Guarantee Unaudited Financial Statements
31 March 2023
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 15 |
| Statement of financial activities (including income and | |
| expenditure account) | 17 |
| Statement of financial position | 18 |
| Statement of cash flows | 19 |
| Notes to the financial statements | 20 |
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name
Hornsey Lane Estate Community Association
Charity registration number 1136559 Company registration number 07210251 Principal office and registered Hornsey Lane Community Centre office Hornsey Lane Estate Hazellville Road London N19 3YJ The trustees Edward Philips – Chair (Appointed 16 May 2022) Sonya Foxsmith - Secretary Andrew Gordon Sheetal Jadhav Awen Duggin (Retired 18 October 2022) Tessa Their (Retired 4 August 2022) Nimit Goel (Served from 25 April 2022 to 5 January 2024) John Mulligan (Appointed 16 May 2022) Catherine Agostino (Appointed 22 March 2023) Caroline Strobridge (Served from 25 June 2023 to 9 January 2024)
Hornsey Lane Estate Community Association would not be able to operate without the help of our loyal and hard-working trustees. Trustees are volunteers giving their time to enable the charity to meet its charitable objectives. From the staff and service users, we would like to say thank you.
Trustees we said goodbye to are Awen Duggin, Tessa Their, Nimit Goel and Caroline Strobridge. We would like to wish them all the best for the future and thank them for their help and contributions.
Senior Management Team
Chief Executive Officer - Irene Winter Nursery Manager – Khadija Aziz Team Leader - Out of School Services – Debbie Shields Older People’s Services – Valerie Taylor Youth Services Lead – Nana Benson Community Organiser Lead – Dawn Shanghanoo Finance and Administration- Rheshma Patel
Jackson Nicholas Assie Limited Chartered Certified Accountants
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Independent examiner Mr John Assie FCCA Suite 7, Meridian House 62 Station Road Chingford London E4 7BA Bankers CAF Bank 25 Kings Hill Avenue Kings Hill, West Malling Kent, ME19 4JQ
Jackson Nicholas Assie Limited Chartered Certified Accountants
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
INTRODUCTION
Governance
Hornsey Lane Estate Community Association (HLECA) is a registered charity and is a company limited by guarantee. The Charity was incorporated in July 2010. The charity has a board of trustees including a Chair, Treasurer, and Secretary.
The organisation is governed by its Articles of Association and trustees are recruited through our safer recruitment process including undergoing application through Ofsted. Trustees are able to stand for positions at the AGM and are elected to those positions for 3 years where they are asked to stand down and can apply for re-election. In the event that the charity should be wound down, as members the charities trustees would be required to contribute an amount not exceeding £1.00.
Trustees Training
Trustees receive safeguarding level 1 at induction and are able to access training through NCVO, Locality and Islington Council. Trustees are sign posted to training opportunities regarding roles and responsibilities.
Objectives of the Association:
OUR AIMS AND OBJECTIVES
Hornsey Lane Estate Community Association aims to promote the Hornsey Lane Estate Community Association and its services for the benefit of local residents and associated projects in the community. This is without distinction of sex, age, colour, sexual orientation, race, or of political, religious or other opinions.
Hornsey Lane Estate Community Association is working in partnership with the local authority, voluntary and other organisations to provide facilities of social welfare, recreation, education, and health improvement to the local community. The organisation’s aim is to increase social inclusion and play a part in improving the condition of life of the centre’s users and the local community.
Meeting our Aims
The past year, 2022 - 2023 has been a challenging time for HLECA. Following the pandemic and then straight into a cost-of-living crisis this has created many new challenges, for HLECA including accessing funding to keep services going. Responding to residents increasing fuel bills by providing warm rooms and hot meals. There has been a big increase in residents needing more support with a range of issues including food poverty, advocacy, respite, help with debt and managing money. We have continued to deliver our services and increased our support to our residents.
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
Our work with families includes the food hubs providing food through food parcels, family cooking or attending one of the lunch club sessions for a hot meal. We have received so much support from Felix, Sainsbury’s Local in Highgate, Neighbourly who has provided small pots of funding to deliver the family cook and share project. Our community organisers have distributed several tonnes of surplus food, collecting from a range of supermarkets and other outlets.
The nursery has been busy throughout the year, and we had a number of senior staff on long term sickness over several months.
Sadly, some of our staff has left including Helen Ioannou who had worked at Hornsey Lane for over 35 years as the nursery deputy manager, also Anita Baffour who was the nursery manager left in July and Khadija stepped in as the interim nursery manager whilst we advertised for the post. Khadija applied for the post and was interviewed for the post and was recruited this year in June. The children have focussed on the environment, numeracy and letters of the alphabet. The children celebrated Eid, visited St Mary’s church, Diwali, Black History Month and Christmas.
The out of school manager Latanya George left the organisation in April which impacted on our Easter playscheme, but the staff were able to focus and deliver the holiday play schemes. We delivered Easter, Summer, and Winter Healthy Activities with Food (HAF), at Hornsey Lane and New Orleans Estates, supporting 230 children serving over 1200 meals to children aged 4 to 11 years during school holidays. We provided respite care to 16 families with children with disabilities and special needs and provided after school and holiday play scheme childcare to 262 children aged 4 to 11 years The number of children attending the after-school club has steadily increased over the year and the holiday play scheme has been full due to delivering the HAF activities at the same time.
We overcame the staffing issues by using agency and short-term cover staff enabling us to continue delivering services in the nursery and out of school services. This has had a big impact on our finances and will need to focus on fundraising and cutting cost where possible.
Once again East London Business Alliance (ELBA) donated toys and games for 120 disadvantaged children. The toys make a huge difference to families at Christmas where things are so hard. Many of our families this year have been forced to access foodbanks, warm spaces and help with their utility bills. The toys and food donations has helped so many families to have an enjoyable Christmas.
We delivered a range of events in 2022 including a successful Platinum Juliee event in June on the estate and in the community centre. We were visited by the Mayoress Marian Spall and the Queens Leftenant. Staff dressed up as characters from Alice in Wonderland and we had a big barbeque, bouncy castle, line dancing, board games, Gunnersaurus, football tournaments, music, food, a giant raffle and entertainment rounded off at the end of the day with a game of bingo. Over 250 people attended including families, children and older residents.
In July we held a community picnic in the new Tollyrise Garden at St Marys. The picnic was a fun afternoon with a yoga demonstration, gentle chair exercises and a perfectly healthy picnic table. 42 residents participated and had a lovely afternoon.
In October we held an event for Black History Month with poems and a memorial to one of our long-standing members who passed away suddenly. Jeremy Corbyn was our guest for the day. The event went well with Caribbean food and music.
We also opened our warm space in October providing a place for residents to keep warm, have access to hot meals, some residents choose to work from the office and keep warm, other residents joined in some of the activities and spend the day in the centre. On Saturday’s residents enjoyed hot meals including Super Soup and Stew days.
In August Hornsey Lane worked in partnership with Caxton House Community Centre to deliver the summer Hillrise Festival. The event draws in over 700 people from all over Islington and includes activities such as Monkey Do, Tombola, Line Dancing, Zumba, Cake Competition, raffles, information stalls, face painting and other attractions.
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
November the nursery, out of school and older people’s services celebrated Diwali and the festival of lights.
December, we held a range of activities and the month started with volunteers from The Big Alliance decorating our hall and making the community centre look really festive. We held Christmas parties for the children with presents from Giving World and ELBA. The older people’s group held their Christmas dinner at St Mary’s Church Ashley Road with over 65 residents attending. The event included a three course Christmas dinner, bingo, and carols. We also held our Winter Open Day at St Mary’s with over 300 people attending from a wide range of backgrounds and beliefs. The activities included, Wild Fangs, Arts and Crafts, Wreath making, Father Christmas, free lunch and hampers, bingo, music and workshops.
January, we held a super stew event providing a range of stews, recipes and hot food for residents. Two events were held in January with 30 plus participants.
We have continued to provide services for older people including free lunch clubs, telephone befriending, warm spaces, social activities, sign posting and advice. The lunch club on Saturdays at Hornsey Lane and Thursday at New Orleans are really popular and older people expressed that the Saturday lunch club provides a point of contact at weekends when most other places are closed. The day trips to Hastings, Eastbourne, Margate and Milton Keynes were popular and enabled older people to get out and about and socialise with friends.
Walks for health was running for the second year and the walks continued weekly for the group walks. The buddy walks increased in the number of vulnerable residents waiting for a volunteer. We recruited 15 volunteers across all walks including the group walks and buddy walks. During the summer we created walks for the children along Parkland Walk to Finsbury Park and a Southbank walk along the Thames in the summer.
Our Place project continued to deliver the food hub and supported residents with food, toiletries, and essential items. The Community Organisers completed their outreach and as a result established a weekly lunch club on New Orleans Estate on Thursdays, provided a range of activities funded by Islington Council delivering weekly gentle exercise, women’s self-defence classes, arts and crafts for children aged 8 plus, youth engagement, Street Doctors and tennis activities on New Orleans. Rory was able to develop a partnership with St Mary’s Church and secured £36,000 of funding to develop the Tollyrise Garden at St Marys.
Risk Management
Trustees continuously review and assess the risks posed to the organisation. Particular attention has been applied to the welfare and wellbeing of staff, volunteers, service user’s contractors etc. We are continuing to assess the risk related to Covid-19 and vulnerable service users. Trustees continually reviewed all areas of risk to the organisation including financial risks to the sustainability of the organisation as well as taking responsibility to assessing and reviewing current risks assessments to ensure all areas of the organisation are taken into account.
Trustees annually review all of the organisation’s policies and procedures including Health & Safety, Safeguarding, Financial, Equalities, Whistleblowing, Complaints amongst the many policies used by the various projects and take into account regulations and legal requirements are fully being met. We are supported by London Borough of Islington Early Years, VCS, Over 5’s, Safeguarding and Housing and Communities Teams, Jackson and Jackson our Accountants and Peninsula for HR and Health & Safety. Trustees work with the CEO and Finance Officer to review and monitor our financial position on a quarterly basis to identify potential financial risks and to take action where needed.
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
Community Hubs
HLECA continues to work in partnership with Caxton House Community Centre. And Brickworks in Crouch Hill. St Mary’s Church in Ashley Road and Octopus Community Network. Our partnership work with Octopus supported and funded the Stay Well Live Well project which ended after 6 wonderful years in January 2023. SWLW funding has created and opened up so many opportunities for our organisation including warm spaces, food hubs, arts project.
NETWORKS
HLECA continues to be a valued and active member of Octopus Community Network (OCN). Octopus also hosts the Community Hubs Network where we work to develop the work of the Hubs across Islington.
We have completed the third and final year of the Octopus Stay Well Live Well project and provided the lottery with our evaluation of the project over the past 3 years. Octopus Community Network, received the Queens Award for Volunteering due to the Community Hubs response to the pandemic and supporting residents throughout that difficult time with food, access to online support, home based activities, befriending and counselling.
We are members of the North Locality Youth Hub, that supports us to develop our own service, understand the work other organisations and agencies are doing to throughout the north of the borough. The network is continuing to support us in developing our own services with young people.
Not to be confused with the North Locality Youth Hub. Our membership with Locality a national network has provided support including funding and fundraising. The Locality network has set up working groups to challenging some of the issues and inequalities encountered by communities across the country. Our CEO represents our organisation on several working groups including Leaders of Colour, Nurseries and Early Years, national campaigns.
We are working with Islington Council teams as a partner agency in order to deliver services that meets the Fairer Together strategy. We have good relationships with council officers and our local Councillors.
Voluntary Action Islington (VAI) provides a range of support including the wellbeing network, fundraising, training, and volunteering. VAI offers support to the voluntary sector including fundraising and resources.
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Jackson Nicholas Assie Limited Chartered Certified Accountants
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
2022 TO 2023 FINANCIAL REVIEW:
Statements for the Year ending 31[st] March 2023.
We continue to use Charities Aid Foundation (CAF Bank) for our banking services.
Jackson Nicholas Assie our Accountants and Auditors continue to provide a valued service including Companies House and Independent Examination as well as support and advice.
The financial position of the charity at the end of March 2023 has significantly reduced our surplus and we are going to have to make tough decisions in 2023 to 2024 including some cuts to services in order to balance the books. The cost-of-living crisis is putting a big strain on our financial position, but we will develop a robust fundraising plan, ensure our services are value for money.
The restricted funds brought forward at the year end of 2022 were £13,494 the unrestricted reserves were £189,692. We ended the year with a total funds of £69,484, of which £64,318 were unrestricted and £5,166 restricted.
We have been working towards securing grants this year, and we are looking to develop our fundraising plan to include a range of grants from trusts, corporate and other forms of generating income from activities such as hall hire. We secured a grant from Locality to support our work to deliver the food hub and community organising for one year to June 2024. We again secured a small grant through Neighbourly of £500 Marks and Spencer for the food hub. We have received a further £1,500 from Morris Charity towards our work with older people and also £400 from Co-op with a further grant to be released in November 2023. We received funding from our local councillors, local initiatives fund and we are in the final year of the Walks for Wellbeing programme with Groundworks.
We have relied heavily on our unrestricted reserves in order to continue services but need to look towards build on our reserves for a more sustainable future. We cannot continue to deliver services at the same rate without additional funding going forward and stabilising some of the services including the main services such as childcare. We do have a stable cash flow enabling us to meet our commitments on time.
Once again, we have provided social work placements providing hands on experience for Social Work Students from London Metropolitan University
RESERVES
The trustees have reviewed the HLECA reserves policy, which exists to provide an operating budget in order for the trustees to meet their legal obligations and to ensure that we are able to operate fully for a minimum of 3 months in the event of unforeseen circumstances. Trustees has decided that they will build a reserve to ensure at least 3 months running costs and to support interim project funding where necessary.
Our current reserves are lower than we need to continue for 3 months in the event of unforeseen circumstances. We are working on fundraising, reducing costs, and reviewing our services to build on the reserves and put us back in a stronger financial position.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
Investment Policy
Hornsey Lane Estate Community Association does not have an investment policy. Trustees will review and create an investment policy when the need arises.
PLANS FOR THE FUTURE
In 2023 to 2024 we will be re-applying for our VCS grant from the council to provide core funding for the next four years. We will look to restructure some services and ensure continuous improvement in what we deliver to improve quality and stability over the next year. Trustees and Senior Staff will work to create a new 5-year business plan and focus on staff training and development.
Our outreach work is recruiting volunteers to become community leaders where we will work to train volunteers to take lead roles in some of our services including the food hub, youth work and working with older people. This winter we will continue to deliver warm spaces with activities and quiet rooms for residents to work and keep warm.
Through Thriving Neighbourhoods’, we managed to make significant improvements to the community centre New Bi-Fold doors in the nursery removing the old wooden glass panelling, which was not safe, a new wet pour surface in the nursery garden, a new roof outside the main entrance. The new works will enable us to improve facilities for the whole community.
We will work with local providers such as Sunnyside Gardens, Islington Boxing Club and the new Actors academy at Platform to enhance our work and ensure we form a local network to understand the needs of our local community.
We will work to ensure volunteering opportunities are widely published and look for our neighbours to volunteer to support our various projects.
We will improve and re-launch our new website.
Jackson Nicholas Assie Limited Chartered Certified Accountants
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
HLECA Chair report.
I am pleased to write the 2022-2023 Chair report. Having taken on the role in December 2022, this allows us to reflect on many things.
Firstly, I would like to thank the people who have supported HLECA through this year. The trustees have put in great efforts as part of their voluntary role and continue to make decisions with the community and long-term health of the charity at the heart of those. Those in the senior management roles and their teams have continued striving to provide the services needed. I thank Andy Gordon as he departs the Chair role, and we are grateful to still have his experience on the board despite his own time pressures. We thank Awen Duggin for the time she gave as a Trustee. Thanks for those departing the centre including Rory who certainly achieved a lot with regards to outreach into the community and for the delivery of a range of projects.
The HLECA continues to operate at the heart of the community. As trustees, we always stress that a focus on good quality service delivery must be at the forefront of what we aspire to do. We are faced with challenges as a society, as the country continues to recover from the impact of Covid-19 and due to global geopolitical events. This has put a strain on the community, as inflation especially on energy and food puts pressure on those around us. This increases the importance on charities such as the HLECA. The fact that HLECA supports the community providing services targeting early learning, through school years, those with challenged means to eat healthy and to older peoples’ services has always been something for us to be proud of. We also face a tougher environment to compete for limited grants and funding opportunity, so will always massively welcome those who want to contribute through time volunteering, donations and sponsorship (and those who want to rent the hall to host birthday parties and the like!).
In particular, the centre has continued to allow people to keep warm, eat healthy and reducing isolation in an increasingly digitalized world. The grow back greener funding and creation of a new community space at St Marys Church in Ashley Road continues to allow the centre to reach and improve the community beyond its own building structure. We were really proud of the brilliant events that took place for the Queen’s Jubilee and the Open Day at St Mary’s – both showing how much fun we can have when we come together.
The network of provision, and the effective use of, surplus food continues to be hugely important as we aim to support the community from the heart and the dinner table.
The Nursery graduation event was another great opportunity for the centre to provide goodwill and spirit to those who attended, and also helped to show the importance and impact the nursery has on the children who attend – the big smiles and joyful moments a testament to the whole team for making the setting a place that the children can thrive and enjoy spending their time at.
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
As we conclude on another year, it is worth reiterating the importance and need for any volunteering efforts, as well as donations. Hall hire is something we would like to increase, and so want to stress that having a birthday party or event hosted here rather than elsewhere goes right back into the services we are providing. Also, the trustees want to continue to make sure that services are being delivered in a way that has quality, importance to the community and will be sustained into the future. It continues to impress us in the impact this centre has on the broader community. We want to help support the HLECA however we can in our voluntary capacity.
Many thanks for your support
Ed Phillips, Chair
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
Centre Managers Report
Welcome to our 2022 to 2023 annual report. It has been a tough year with many things impacting on the organisation including long term staff sickness, the cost-of-living crisis, and difficulties in securing further funding for our projects.
In April 2022 we held Easter holiday play scheme alongside Healthy Activities with Food (HAF) for children from low-income families. The children were visited by the Easter bunny and were amazed by his basket full of Easter Eggs for every child.
In June 2022 we held the Queens Platinum Jubilee event on the estate working in partnership with the Estate Management Board (EMB). The event was a huge success with over 250 adults and children. A big thank you to our volunteers who helped to make the event a very special day. The kind donations from local businesses to make a gigantic raffle. The chefs cooking mountains of burgers, chicken, and sausages on the barbeque in the hot sunshine. The staff dressing up as characters from Alice in Wonderland.
In July and August, we had a very busy play scheme again with HAF children providing cooked meals to children during the school holidays. We also worked in partnership with Caxton House to deliver the first summer event since the pandemic at Caxton House. Over 400 people attended and enjoyed a range of indoor and outdoor activities including tree climbing with Monkey Do.
We opened warm spaces in October 2022 through to March 2023, provided warm scarves, woolly hats, hot water bottles, hot drinks, stew and soup events and activities to enable residents to reduce time at home using gas and electricity. Many residents had just been recovering from the pandemic and the isolation caused through lockdown.
The community garden at St Mary’s Church in Ashley Road has provided our community with a new resource and an open space to enjoy. Thank you to Rory who has led on this project and for the wonderful volunteers who has ensured the garden has been maintained and open to the community to use. The partnership enabled us to deliver the annual Christmas lunch and our Winter open day at St Mary’s. Both events were really popular and we have continued to work in partnership with St Mary’s.
We recognised that many of the children had been affected by the lockdown and especially the number of children needing additional help to support their learning and development.
Our older people’s project continues to meet on Saturday’s, at Hornsey Lane and New Orleans on Thursday’s the lunch clubs have proved to make a real difference to the lives of older people being able to access a free hot healthy meal. The older people’s project has enjoyed trips to the seaside, tea dances, barbeques, quiz afternoons and many more social activities that promotes, positive wellbeing and reduces isolation.
It has been a busy year with the change in our board of trustees and Ed Phillips being elected as our chair when Andy stood down after 3 years. Nimit has taken on the position of Treasurer. Awen left us in August 2022 after providing support with the nursery and contributing so much to the board of trustees. A big thank you to all of the trustees for their hard work and commitment. We are continuing to recruit to the board of trustees and would welcome new members with lived experiences, to join us in delivering our aims.
Irene Winter
CEO
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2023
Our Funders and Supporters 2022 to 2023
Grow Back Greener
Groundworks/TFL
Locality
Morris Charity
Local Initiatives Fund
Caxton House Community Centre
Neighbourly – Marks and Spencer Grant for our food hub
London Metropolitan University
Bright Starts, Family Information Service
Octopus Community Network – Stay Well Live Well and Community Food Hubs
St Marys and St Andrews Churches
ELBA,
The Big Alliance
Giving World
Coop
Easy Fundraising
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Events after the end of the reporting period
Particulars of events after the reporting date are detailed in note 25 to the financial statements.
Directors Responsibilities
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(a) the directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice;
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(b) company law requires the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the surplus or deficit profit or loss of the charity for that period;
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(c) in preparing the financial statements the directors are required to:
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(i) select suitable accounting policies and then apply them consistently;
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(ii) make judgements and accounting estimates that are reasonable and prudent;
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(iii) State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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(iv) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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(d) the directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy al any time the financial position of the charity and that enable them to ensure that the financial statements comply with the Companies Act;
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(e) the directors are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities; and
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(f) where appropriate, the directors are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website.
In the case of CA 06 Co.-s418(2) each of the persons who are directors at the time when the report is approved, the following applies:
(a) so far as each director is aware, there is no relevant information (information needed by the company's independent examiners in connection with preparing their report) of which the company's independent examiners are unaware; and
(b) each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant information and to establish that the company's independent examiners are aware of that information
Jackson Nicholas Assie Limited Chartered Certified Accountants
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 22 January 2024 and signed on behalf of the board of trustees by:
E Philips
S Foxsmith
Chair (trustee)
Secretary (trustee)
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Hornsey Lane Estate Community Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Hornsey Lane Estate Community Association
Year ended 31 March 2023
I report to the trustees on my examination of the financial statements of Hornsey Lane Estate Community Association ('the charity') for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements 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 the 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, 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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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the financial statements 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
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the financial statements 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).
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Jackson Nicholas Assie Limited Chartered Certified Accountants
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Hornsey Lane Estate Community Association (continued)
Year ended 31 March 2023
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.
John Assie FCCA Independent Examiner Jackson Nicholas Assie Limited Chartered Certified Accountants Suite 7, Meridian House 62 Station Road Chingford London E4 7BA
23 January 2024
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Jackson Nicholas Assie Limited Chartered Certified Accountants
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 287,322 | 17,233 | 304,555 | 317,888 |
| Charitable activities | 6 | 85,460 | – | 85,460 | 89,407 |
| Investment income | 7 | 535 | – | 535 | 14 |
| Other income | 8 | 3,528 | – | 3,528 | 64,729 |
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| Total income | 376,845 | 17,233 | 394,078 | 472,038 | |
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| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 9 | 999 | – | 999 | 3,908 |
| Expenditure on charitable activities | 10,11 | 501,220 | 25,561 | 526,781 | 491,830 |
───────── |
──────── |
───────── |
───────── |
||
| Total expenditure | 502,219 | 25,561 | 527,780 | 495,738 | |
═════════ |
════════ |
═════════ |
═════════ |
||
───────── |
──────── |
───────── |
───────── |
||
| Net expenditure and net movement | in | ||||
| funds | (125,374) | (8,328) | (133,702) | (23,700) | |
═════════ |
════════ |
═════════ |
═════════ |
||
| Reconciliation of funds | |||||
| Total funds brought forward | 189,692 | 13,494 | 203,186 | 226,886 | |
───────── |
──────── |
───────── |
───────── |
||
| Total funds carried forward | 64,318 | 5,166 | 69,484 | 203,186 | |
═════════ |
════════ |
═════════ |
═════════ |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 20 to 32 form part of these financial statements.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 17 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 17 | 5,868 | 10,658 | |
| Current assets | ||||
| Debtors | 18 | 8,920 | 18,611 | |
| Cash at bank and in hand | 64,440 | 184,082 | ||
──────── |
───────── |
|||
| 73,360 | 202,693 | |||
| Creditors: amounts falling due within one year | 19 | (9,744) | (10,165) | |
──────── |
───────── |
|||
| Net current assets | 63,616 | 192,528 | ||
──────── |
───────── |
|||
| Total assets less current liabilities | 69,484 | 203,186 | ||
════════ |
═════════ |
|||
| Funds of the charity | ||||
| Restricted funds | 5,166 | 13,494 | ||
| Unrestricted funds | 64,318 | 189,692 | ||
──────── |
───────── |
|||
| Total charity funds | 21 | 69,484════════ |
203,186═════════ |
For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 22 January 2024, and are signed on behalf of the board by:
E Phillips Trustee
S Foxsmith Trustee
The notes on pages 20 to 32 form part of these financial statements.
Company Registration Number: 7210251
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 18 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net expenditure | (133,702) | (23,700) |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 4,790 | 4,790 |
| Other interest receivable and similar income | (535) | (14) |
| Accrued expenses/(income) | 5,200 | (7,662) |
| Changes in: | ||
| Trade and other debtors | 4,491 | 1,120 |
| Trade and other creditors | (421) | 4,062 |
───────── |
──────── |
|
| Cash generated from operations | (120,177) | (21,404) |
| Interest received | 535 | 14 |
───────── |
──────── |
|
| Net cash used in operating activities | (119,642) | (21,390) |
| Cash flows from investing activities | ||
| Purchase of tangible assets | – | (4,319) |
───────── |
──────── |
|
| Net decrease in cash and cash equivalents | (119,642) | (25,709) |
| Cash and cash equivalents at beginning of year | 184,082 | 209,791 |
───────── |
───────── |
|
| Cash and cash equivalents at end of year | 64,440 | 184,082 |
═════════ |
═════════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 19 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Hornsey Lane Community Centre, Hornsey Lane Estate, Hazellville Road, London, N19 3YJ.
2. Statement of compliance
The financial statements have been prepared in accordance with 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 (FRS102) issued in October 2019 and the financial reporting standard applicable in the United Kingdom and Republic of Ireland (FRS102) and the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice as it applies from 1 1 January 2019.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
It is considered that the going concern status remains intact and there are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Significant judgements These are judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements.
There have not been any significant judgements or estimation made during the year that have a significant risk of material misstatement to the carrying amounts of assets or liabilities in the financial statements.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal and fall into one of two sub-classes: restricted income funds or endowment funds.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 20 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £1,000 are not capitalised.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 21 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 22 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
4. Limited by guarantee
Hornsey Lane Estate Community Association is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds |
|
|---|---|---|---|
| Funds | Funds | 2023 |
|
| £ | £ | £ | |
| Donations | |||
| Sundry donations | 6,115 | – | 6,115 |
| Grants | |||
| London Borough of Islington - Nursery Education | |||
| Grant | 91,347 | – | 91,347 |
| London Borough of Islington - Young People Services | |||
| (Play and After School) | 88,253 | – | 88,253 |
| London Borough of Islington Regeneration | 50,000 | – | 50,000 |
| London Borough of Islington - Nursery Grant Aid | 27,599 | – | 27,599 |
| Octopus Community Network | 9,632 | – | 9,632 |
| London Borough of Islington - other smaller grants | |||
| (£5000 or less) | 9,657 | – | 9,657 |
| Groundworks - Growback Greener | – | 8,566 | 8,566 |
| Groundworks | – | 5,000 | 5,000 |
| Cripplegate | – | 2,667 | 2,667 |
| Street Doctors | 1,500 | – | 1,500 |
| Octopus - Warm Room Grant | 1,500 | – | 1,500 |
| Neighbourly Community Fund | – | 1,000 | 1,000 |
| Furlough Income | – | – | – |
| Sainsburys | – | – | – |
| CAF Bank Resilience Bank | – | – | – |
| Grants less than £1,000 | 1,719 | – | 1,719 |
| ───────── | ──────── | ───────── | |
| 287,322 | 17,233 | 304,555 |
|
| ═════════ | ════════ | ═════════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 23 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Sundry donations |
283 | _ | 283 |
| Grants | |||
| London Borough of Islington - Nursery Education | |||
| Grant | 104,197 | – | 104,197 |
| London Borough of Islington - Young People Services | |||
| (Play and After School) | 73,163 | – | 73,163 |
| London Borough of Islington Regeneration | 50,000 | – | 50,000 |
| London Borough of Islington - Nursery Grant Aid | 31,459 | – | 31,459 |
| London Borough of Islington - other smaller grants | |||
| (£5000 or less) | 20,121 | – | 20,121 |
| Groundworks | – | 17,131 | 17,131 |
| Octopus Community Network | 14,849 | – | 14,849 |
| Charles French Charitable Trust | 3,000 | – | 3,000 |
| Sainsburys | 1,000 | – | 1,000 |
| Furlough Income | 1,646 | – | 1,646 |
| CAF Bank Resilience Bank | 539 | – | 539 |
| Cripplegate | 500 | – | 500 |
───────── |
──────── |
───────── |
|
| 300,757 | 17,131 | 317,888 | |
═════════ |
════════ |
═════════ |
6. Charitable activities
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Nursery fees | 44,755 | 44,755 | 50,086 | 50,086 |
| Hall hire | 3,523 | 3,523 | 1,465 | 1,465 |
| Young People (Play & After School) | 29,880 | 29,880 | 24,173 | 24,173 |
| Student placement fees | 2,058 | 2,058 | 8,760 | 8,760 |
| Activities | 1,077 | 1,077 | 3,765 | 3,765 |
| Trips | 4,167 | 4,167 | 1,158 | 1,158 |
──────── |
──────── |
──────── |
──────── |
|
| 85,460 | 85,460 | 89,407 | 89,407 | |
════════ |
════════ |
════════ |
════════ |
7. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Bank interest receivable | 535 | 535 | 14 | 14 |
════ |
════ |
════ |
════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 24 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
8. Other income
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Other income - Business Interruption | ||||
| claim | – | – | 52,329 | 52,329 |
| Other income - Compensation | – | – | 12,000 | 12,000 |
| Other income - DWP | – | – | 400 | 400 |
| Other income – Leasing costs Refund | 3,528 |
3,528 | – | – |
─────── |
─────── |
──────── |
──────── |
|
| 3,528 | 3,528 | 64,729 | 64,729 | |
═══════ |
═══════ |
════════ |
════════ |
|
| Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| £ | £ | £ | £ | |
| Fundraising costs | 999 | 999 | 3,908 | 3,908 |
════ |
════ |
═══════ |
═══════ |
|
| Expenditure on charitable activities | by fund type | |||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Community support | 10,565 | – | 10,565 | |
| Nursery | 239,877 | – | 239,877 | |
| Young peoples' services (Play & After | School) | 87,247 | – | 87,247 |
| Older peoples' services | 37,032 | – | 37,032 | |
| Community Development | 67,035 | 25,561 | 92,596 | |
| Support costs | 59,464 | – | 59,464 | |
───────── |
──────── |
───────── |
||
| 501,220 | 25,561 | 526,781 | ||
═════════ |
════════ |
═════════ |
||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2022 | ||
| £ | £ | £ | ||
| Community support | 10,587 | – | 10,587 | |
| Nursery | 201,363 | 999 | 202,362 | |
| Young peoples' services (Play & After | School) | 76,889 | – | 76,889 |
| Older peoples' services | 38,927 | – | 38,927 | |
| Community Development | 57,969 | 32,118 | 90,087 | |
| Support costs | 72,609 | 369 | 72,978 | |
───────── |
──────── |
───────── |
||
| 458,344 | 33,486 | 491,830 | ||
═════════ |
════════ |
═════════ |
9. Costs of raising donations and legacies
10. Expenditure on charitable activities by fund type
- 25 -
Jackson Nicholas Assie Limited Chartered Certified Accountants
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
11. Expenditure on charitable activities by activity type
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total funds | Total fund | ||
| directly | Support costs | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Community support | 10,565 | 3,307 |
13,872 | 13,584 |
| Nursery | 239,877 | 20,738 |
260,615 | 221,892 |
| Young peoples' services (Play & After | ||||
| School) | 87,247 | 13,362 |
100,609 | 89,405 |
| Older peoples' services | 37,032 | 7,830 |
44,862 | 46,183 |
| Community Development | 92,596 | 8,522 |
101,118 | 97,997 |
| Governance costs | – | 5,705 |
5,705 | 22,769 |
───────── |
──────── |
───────── |
───────── |
|
| 467,317 | 59,464 |
526,781 | 491,830 | |
═════════ |
════════ |
═════════ |
═════════ |
- 26 -
Jackson Nicholas Assie Limited Chartered Certified Accountants
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
12. Analysis of support costs (excluding governance costs)
| Young | |||||||
|---|---|---|---|---|---|---|---|
| People's | |||||||
| services | Older | Community |
|||||
| Community | (Play & After | peoples' | Developmen |
||||
| support | Nursery | School) |
services | t |
Total 2023 | Total 2022 | |
| £ | £ | £ | £ | £ | £ | £ | |
| Staff costs | 2,293 | 18,504 | 11,565 |
6,939 | 6,939 |
46,240 | 44,853 |
| Premises | 268 | 1,001 | 691 |
412 | 412 |
2,784 | 2,032 |
| Communications and IT | 732 | 1,218 | 1,092 |
443 | 1,156 |
4,641 | 3,228 |
| Finance costs | 16 | 14 | 14 |
36 | 14 |
94 | 96 |
─────── |
──────── |
──────── |
─────── |
─────── |
──────── |
──────── |
|
| 3,309 | 20,737 | 13,362 |
7,830 | 8,521 |
53,759 | 50,209 | |
═══════ |
════════ |
════════ |
═══════ |
═══════ |
════════ |
════════ |
Support costs are allocated to activities on a reasonable estimate basis.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 27 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
13. Net expenditure
Net expenditure is stated after charging/(crediting):
| Net expenditure is stated after charging/(crediting): | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| Depreciation of tangible fixed assets | 4,790 | 4,790 |
| Operating lease rentals | 3,566 | 1,113 |
═══════ |
═══════ |
| 14. | Independent examination fees | ||
|---|---|---|---|
| 2023 | 2022 | ||
| £ | £ | ||
| Fees payable to the independent examiner for: | |||
| Independent examination of the financial statements | 5,256═══════ |
4,752═══════ |
15. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 351,210 | 346,373 |
| Social security costs | 19,486 | 16,129 |
| Employer contributions to pension plans | 5,573 | 5,645 |
| Other employee benefits | 4,095 | – |
───────── |
───────── |
|
380,364═════════ |
368,147═════════ |
The average head count of employees during the year was 20 (2022: 22). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Number of nursery staff | 5 | 5 |
| Number of Young People's services (Play & After School) staff | 4 | 4 |
| Number of older people's services staff | 1 | 1 |
| Number of management staff | 2 | 2 |
| Number of other staff | 2 | 2 |
──── |
──── |
|
| 14 | 14 | |
════ |
════ |
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total paid to key management personnel for services provided to the charity was £47,105 (2022: £45,537).
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 28 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
16. Trustee remuneration and expenses
-
no remuneration or other benefits from employment with the charity or a related entity were received by the trustees; or
-
none of the trustees has been paid remuneration or received other benefits from employment with the charity or a related entity.
-
no trustee expenses have been incurred.
17. Tangible fixed assets
| Equipment | Total | |
|---|---|---|
| £ | £ | |
| Cost | ||
| At 1 April 2022 and 31 March 2023 | 24,370 | 24,370 |
════════ |
════════ |
|
| Depreciation | ||
| At 1 April 2022 | 13,712 | 13,712 |
| Charge for the year | 4,790 | 4,790 |
──────── |
──────── |
|
| At 31 March 2023 | 18,502 | 18,502 |
════════ |
════════ |
|
| Carrying amount | ||
| At 31 March 2023 | 5,868 | 5,868 |
════════ |
════════ |
|
| At 31 March 2022 | 10,658 | 10,658 |
════════ |
════════ |
|
| Debtors | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade debtors | 3,085 | 3,876 |
| Prepayments and accrued income | 2,121 | 7,166 |
| Other debtors | 3,714 | 7,569 |
─────── |
──────── |
|
| 8,920 | 18,611 | |
═══════ |
════════ |
|
| Creditors: amounts falling due within one year | ||
| 2023 | 2022 | |
| £ | £ | |
| Trade creditors | 4,324 | 3,612 |
| Social security and other taxes | 4,344 | 5,298 |
| Other creditors | 1,076 | 1,255 |
─────── |
──────── |
|
9,744═══════ |
10,165════════ |
18. Debtors
19. Creditors: amounts falling due within one year
There is no other pension liability other than those disclosed above.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 29 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
20. Pensions and other post-retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £5,573 (2022: £5,645).
21. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 April 2022 | Income | Expenditure | 31 March 2023 |
||
| £ | £ | £ | £ | ||
| General funds | 189,692 | 376,845 | (502,219) | 64,318 |
|
═════════ |
═════════ |
═════════ |
════════ |
||
| At | At | ||||
| 1 April 2021 | Income | Expenditure | 31 March 2022 | ||
| £ | £ | £ | £ | ||
| General funds | 197,037 | 454,907 | (462,252) | 189,692 |
|
═════════ |
═════════ |
═════════ |
═════════ |
||
| Restricted funds | |||||
| At | At | ||||
| 1 April 2022 | Income | Expenditure | 31 March 2023 |
||
| £ | £ | £ | £ | ||
| Nursery | – | – | – | – | |
| Community Development | 13,494 | 17,233 | (25,561) | 5,166 |
|
──────── |
──────── |
──────── |
─────── |
||
| 13,494 | 17,233 | (25,561) | 5,166 |
||
════════ |
════════ |
════════ |
═══════ |
||
| At | At | ||||
| 1 April 2021 | Income | Expenditure | 31 March 2022 | ||
| £ | £ | £ | £ | ||
| Nursery | 999 | – | (999) | – |
|
| Community Development | 28,850 | 17,131 | (32,487) | 13,494 |
|
──────── |
──────── |
──────── |
──────── |
||
| 29,849 | 17,131 | (33,486) | 13,494 |
||
════════ |
════════ |
════════ |
════════ |
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 30 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
21. Analysis of charitable funds (continued)
Purposes of Restricted Income Fund
Older People's projects: The fund is provided with the aim of reducing social isolation among older people and to promote healthier lifestyles.
Nursery projects: The fund is provided with the aim of providing music equipment for music activities for children five and under.
Young People's Services (YPS) projects: This fund is provided with the aim of providing trips to children from deprived areas.
Community Development: This fund is for the provision of outreach services in the community and to meet the needs of the community around the local area and further afield. It also helps in facilitating local community groups and provide activities and services that reduce isolation and increase inclusion in the local community.
22. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 5,868 | – | 5,868 |
| Current assets | 68,194 | 5,166 | 73,360 |
| Creditors less than 1 year | (9,744) | – | (9,744) |
──────── |
─────── |
──────── |
|
| Net assets | 64,318 | 5,166 | 69,484 |
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|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 10,658 | – | 10,658 |
| Current assets | 189,199 | 13,494 | 202,693 |
| Creditors less than 1 year | (10,165) | – | (10,165) |
───────── |
──────── |
───────── |
|
| Net assets | 189,692 | 13,494 | 203,186 |
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23. Analysis of changes in net debt
| At | |||||
|---|---|---|---|---|---|
| At | 1 | Apr 2022 | Cash flows | 31 Mar 2023 | |
| £ | £ | £ | |||
| Cash at bank and in hand | 184,082 | (119,642) | 64,440 |
||
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Jackson Nicholas Assie Limited Chartered Certified Accountants
- 31 -
Hornsey Lane Estate Community Association
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
24. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Not later than 1 year | 2,937 | 2,937 |
| Later than 1 year and not later than 5 years | 5,844 | 8,781 |
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──────── |
|
| 8,781 | 11,718 | |
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25. Post balance sheet events
The trustees have considered the likelihood of any significant post balance sheet events and have concluded that there are none which impact the financial statements.
26. Related parties
During the year there were no related party transactions (2022: Nil).
27. Going concern
The trustees have considered the circumstances and projections of the charity, and are satisfied, the going concern basis is appropriate for these financial statements.
Jackson Nicholas Assie Limited Chartered Certified Accountants
- 32 -