| Page | ||
|---|---|---|
| Legal and administrative information |
||
| Trustees' Annual report |
3-12 | |
| Independent auditor's |
report | 13-16 |
| Statement offinancial |
activities | 17 |
| Balance sheet | 18 | |
| Cash flow statement | 19 | |
| Notes to the financial | statements | 20-29 |
| Unrestricted | Unrestricted | |||||
|---|---|---|---|---|---|---|
| Funds | Funds | |||||
| 2022 | 2021 | |||||
| Note | 6 | 2 | ||||
| INCOME AND ENDOWMENTS | FROM: | |||||
| Investments | 565,456 | 779,287 | ||||
| Charitable activities |
108,312 | 96,417 | ||||
| Donations | 250 | |||||
| Government grant |
11,745 | |||||
| TOTAL INCOME AND ENDOWMENTS | 873,768 | 887,699 | ||||
| EXPENDITURE ON: | ||||||
| Cost of raising funds: | ||||||
| Investment property costs |
60,280 | 47,555 | ||||
| Charitable activities: |
||||||
| Member support | 506,561 | 290,401 | ||||
| Almhouses provision |
881,022 | 583,085 | ||||
| TOTAL EXPENDITURE | 1,447,863 | 921,041 | ||||
| NET (EXPENDITURE) | (774,095) | (33,342) | ||||
| Gainer (losses) on revaluation | of investment | assets | 14,15 | 25,625,516 | 2,775,173 | |
| Gains I(losses) on revaluation | oftangible | fixed assets | 13 | 1,642,000 | (272,599) | |
| Transfer between funds |
||||||
| NET MOVEMENT IN FUNDS FOR THE | YEAR | 26,493,421 | 2,469,232 | |||
| Total funds brought forward at |
1 January | 33,792,399 | 31,323,167 | |||
| TOTAL FUNDS CARRIED FORWARD AT | 31 DECEMBER | 60,285,820 | 33,792,399 |
| Note | 2022 | 2021 | ||
|---|---|---|---|---|
| 2 | 6 | |||
| FIXED ASSETS | ||||
| Tangible assets | 13 | 12,100,000 | 10,700,000 | |
| Investment property |
14 | 31,888,009 | 4,794,500 | |
| Investments | 15 | 12,514,864 | 13,982,857 | |
| 56,502,873 | 29,477,357 | |||
| CURRENT ASSETS | ||||
| Debtors | 16 | 3,224,926 | 2,490,513 | |
| Cash at bank and in hand | 752,126 | 1,871,097 | ||
| 3,977,052 | 4,361,610 | |||
| CREDITORS: Amounts within one year |
falling due | 17 | (194,105) | (46,568) |
| NET CURRENT ASSETS | 3,782,947 | 4,315,042 | ||
| NET ASSETS | 60,285,820 | 33,792,399 | ||
| CHARITY FUNDS | ||||
| Permanent endowment |
fund | 18 | ||
| Unrestricted funds |
||||
| General fund |
18 | 22,683,046 | 24,334,143 | |
| Designated fund |
18 | 37,602,774 | 9,458,256 | |
| 60,285,820 | 33,792,399 |
| Note | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| 8 | 6 | |||||||
| Cash | flows from operating | activities | 20 | (1,684,428) | (1,324,721) | |||
| Cash | flows from investing | activities | ||||||
| Investment income |
2 | 565,456 | 779,288 | |||||
| Purchase of investments | 15 | (1,000,000) | ||||||
| Proceeds from sale of | investments | 15 | 2,699,080 | |||||
| Change in cash and cash |
equivalents | In the year | ||||||
| Cash | and cash equivalents | brought | forward | 1,870,997 | 717,350 | |||
| Cash | and cash equivalents | carried fonvard | 752,126 | 1,870,997 | ||||
| Analysis ofcash and | cash | equivalents | 2022 | 2021 | ||||
| 2 | 2 | |||||||
| Cash | in hand | 1,463 | 1,726 | |||||
| Cash | at Bank | 130,917 | 307,748 | |||||
| Cash | in notice deposits | 619,746 | 1,561,623 | |||||
| 752,126 | 1,871,097 | |||||||
| 31 December 2021 |
Cash Flows | 30December 2022 |
||||||
| Analysis ofchanges | in net debt | |||||||
| Cash | 1,870,997 | (1,118,972) | 752,026 | |||||
| Loans | falling due withm one | year | ||||||
| Loans | falling due afler | more | than one year | |||||
| Total |
| Uhrssthcl8d | Uhi'esthclad | fuhda | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| INVESTMENT INCOME | funds 2022 | 2021 | ||||||||||
| Rental income - Investment | properhes | 72,819 | 252,821 | |||||||||
| Dividend income from listed |
investments | 480,133 | 526,374 | |||||||||
| Bank interest received | 12,704 | 92 | ||||||||||
| 779,287 | ||||||||||||
| Unrestricte | Unrestricted | funds | ||||||||||
| INCOME FROM CHARITABLE ACTNITIES | funds 2022 | 2021 | ||||||||||
| Almshouses Weekly Maintenance |
charges | 95,557 | 96,417 | |||||||||
| Other charitable activities |
12,755 | |||||||||||
| 108,312 | 96,417 | |||||||||||
| INCOISE FROM DONATIONS | Unrestricted funds 2022 |
Unrestricted | funds 2021 |
|||||||||
| Donations | 250 | |||||||||||
| INCOME FROM GOVERNMENT GRANTS | Unrestricted funds 2022 |
Unrestricted | funds 2021 |
|||||||||
| 8 | 5 | |||||||||||
| Coronavirus Job Retention |
Scheme | 11,745 | ||||||||||
| Ag incoming resources are | attributable | to unrestncted | funds | in both | years | |||||||
| Restated | ||||||||||||
| COSTS OF RAISING FUNDS | Unrestricted funds 2022 |
Uhrsstrlcted | fuhda 2021 |
|||||||||
| 5 | 5 | |||||||||||
| Rental properly maintenance |
costs | 28,124 | 27,013 | |||||||||
| Support costs (Note 8) | 32,158 | 20,542 | ||||||||||
| 60,280 | 47,566 | |||||||||||
| Ag casts incurred in generahng |
funds are stlnbutable | to unrestricted | general | funds | m both years | |||||||
| Restated | ||||||||||||
| EXPENDITURE ON CHARITABLE | ACTIVITES | Member | Almshouses | Total 2022 | 2021 | |||||||
| support | Provision | |||||||||||
| E. | 5 | |||||||||||
| Almshouses expenses |
190,999 | 190,999 | 189,677 | |||||||||
| Christmas parcae end gifts |
14,200 | 14,200 | 27,560 | |||||||||
| Summer Holiday Benefils |
54,061 | 54,081 | ||||||||||
| Discretionary payments |
28,805 | 28,805 | 30,144 | |||||||||
| Grants payable (Note 11) | 290,073 | 29D,073 | 185,837 | |||||||||
| Redevelopment fees |
311,950 | 311,950 | 105,395 | |||||||||
| Art Strategy | 29,431 | 29,431 | ||||||||||
| Support costs (Notes 8) | 61,732 | 349,812 | 411,544 | 315,933 | ||||||||
| Governance costs (Note 9) | 28,280 | 28,260 | 56,521 | 38,940 | ||||||||
| Net expendhure from charitable |
activities | 506,581 | 881,022 | 1,387,583 | 873ri86 | |||||||
| Net expenditure from charitable |
activities 2021 | 290,401 | 583,085 | 873,486 |
| Member | Almshouses | 2021 | |||
|---|---|---|---|---|---|
| support | Provision | ||||
| 6 | K | ||||
| Almshouses expenses |
189,677 | 189,677 | |||
| Christmas parties and gifts |
27,580 | 27,560 | |||
| Summer Holiday Benefits |
|||||
| Discretionary payments |
30,144 | 30,144 | |||
| Grants payable (Note 11) |
165,837 | 165,837 | |||
| Redeveloprrwnt fees |
105,395 | 105,395 | |||
| Support costs (Notes 8) | 47,390 | 268,543 | 315,933 | ||
| Governance costs (Note 9) |
19,470 | 19,470 | 36,940 | ||
| Net expenditum from charitable activities |
290,401 | 683,086 | 873,486 | ||
| Restated | |||||
| 8 | SUPPORT COSTS | Casts of raising fuilda |
Chadtable activities |
Total 2022 | Total 2021 |
| 6 | |||||
| Training | 228 | 1,294 | 1,522 | 2,519 | |
| Telephone | 442 | 2,502 | 2,944 | 2,418 | |
| Computer expenses | 4,020 | 22,777 | 26,797 | 12,863 | |
| Council Tax &Rates | 571 | 3,236 | 3,807 | 2,323 | |
| Insurance | 816 | 4,621 | 5,437 | 1,166 | |
| Printing, postage &stationary | 500 | 2,834 | 3,334 | 2,511 | |
| Repair &maintenance | 33 | 190 | 223 | 151 | |
| Bank Charges | 85 | 367 | 432 | ||
| Travel | 377 | 2,134 | 2,510 | 1,659 | |
| Subscriptions | 1,127 | 6,384 | 7,510 | 1,459 | |
| Sundry expenses | 445 | 2,519 | 2,964 | 3,239 | |
| Pension | 1,61'I | 7,223 | 8,835 | 6,721 | |
| Social security | 1,726 | 8,881 | 8,607 | 5,098 | |
| Yyages &Salaries | 20,198 | 108,582 | 126,778 | 80,348 | |
| Depreciation | 242,000 | 242,000 | 214,000 | ||
| TOTAL SUPPORT COSTS 2022 | 32,156 | 411,544 | 443,700 | 336,475 | |
| TOTAL SUPPORT COSTS 2021 (RESTATED) | 20,542 | 315,933 | 336,475 |
| Restated | ||
|---|---|---|
| GOVERNANCE COSTS | 2022 | 2021 |
| 5 | ||
| Auditors remuneraaon |
21,582 | 10,795 |
| Other scmuntancy Fees |
11,902 | |
| Legal and professional fees |
22,268 | 1,772 |
| Staff support costs (Note 12) | 12,671 | 14,471 |
| 58,521 | 38,640 |
| 10 | NET RESOURCES EXPENDED | NET RESOURCES EXPENDED | 2022 | 2021f | ||
|---|---|---|---|---|---|---|
| This is stated after charging: | ||||||
| Depreciation oftangible |
fixed assets: owned by | the charity | 242,000 | 214,000 | ||
| Auditors' remunerabon. |
||||||
| Audit fees - current year Audit fees - Under I (over) accrual from prior year |
15,000 2,982 |
12,000 (1,205) |
||||
| Non audit services - Tax sdvioe | 3,600 | |||||
| 21,692 | 10,795 | |||||
| 11 | GRANT AWARDS | |||||
| Grants awarded to organisations |
and individuals | during the year are listed below | ||||
| 2022 | 2021 | |||||
| 6 | E | |||||
| A Helping Hand NP |
1,500 | |||||
| Astley &Cooper TRA | 7,000 | 4,000 | ||||
| AGE UK | 23,000 | |||||
| Art in Ihe Park | 6,400 | |||||
| Bagers Academy | 500 | |||||
| Bede House | 7,500 | |||||
| Bermondsey Artists |
4,686 | |||||
| Bermondssy StTRA | 500 | |||||
| Blackfnsrs Settlement | 31,500 | 26,000 | ||||
| BlindAid | 6,000 | 5,000 | ||||
| Brandon 3TRA | 1,700 | |||||
| Breath of life | 4,500 | |||||
| Camberweg Skylarks |
1,400 | |||||
| Coin Street Community | Centre | 3,000 | ||||
| Connected at Christmas | 10,000 | |||||
| Copleston Cense | 12,563 | 9,885 | ||||
| Docklands Settlement | 6,080 | |||||
| Downside Sedement | 1,500 | |||||
| East Dulwich TRA |
10,000 | |||||
| EFA London | 3,821 | |||||
| Elim House Communny | 27,504 | 9,188 | ||||
| Entelechy Arts | 2,500 | |||||
| Flashy Wings Ministry | 3,000 | |||||
| Goose Green Lunch Club | 820 | |||||
| Guinness Trust Pages Walk |
380 | |||||
| Hawkslone TRA |
500 | |||||
| Kingswood Estate 1RA | 4,360 | |||||
| Link Age | 10,000 | |||||
| London Bubble Theatre | 6,113 | |||||
| London Semor Somal | 57,720 | 48,300 | ||||
| Mayflower TRA |
500 | |||||
| Mint St Music Festival | 340 | 250 | ||||
| Nunhead's Voice |
6,000 | |||||
| Pecan Foodbsnk | 0 | |||||
| Royal British Legion | 750 | |||||
| Silverfit | 9,850 | 18,926 | ||||
| Southwark Pensioners |
Centre | 11,425 | ||||
| Southwark Playhouse |
1,800 | 1,980 | ||||
| StJohns Walworlh | 4,000 | |||||
| StPaula Walworth | 1,455 | |||||
| South London Mission | 945 | |||||
| Time &Talents | 20,000 | 7,000 | ||||
| Walworth Golden Dldies |
5,000 | |||||
| 282,386 | 166,195 | |||||
| Grants awarded to individuals |
4,182 | 3,274 | ||||
| EEH Residents Subsidy |
3,505 | |||||
| Credited from previous |
year | (3,632) | ||||
| Total Grants awarded | 290,073 | 165,837 |
| STAFF COSTS | STAFF COSTS | Restated | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||||
| 6 | 6 | |||||||||||
| Wages and | salaries | 147,214 | 122,819 | |||||||||
| Social security costs | 11,506 | 8,509 | ||||||||||
| Other pension costs | 10,743 | 8,966 | ||||||||||
| Termination | and Redundancy | costs | 21,083 | |||||||||
| 190,546 | 140,294 | |||||||||||
| Staffcosts | reported | above | have been | allocatd | to resources expanded | as: | Restated | |||||
| 2022 | 2021 | |||||||||||
| 6 | 6 | |||||||||||
| Costs ofraising funds | 23,534 | 15,996 | ||||||||||
| Charitable | activkes- | Direct | costs | 33,656 | 33,656 | |||||||
| Charitable | activtes- | Support | costs | 120,686 | 76,172 | |||||||
| Governance | support | costs | (note 9) | 12,671 | 14,471 | |||||||
| 190,546 | 140,295 | |||||||||||
| The average monthly |
number | ofemployees | during the | year was as follows: | ||||||||
| 2022 | 2021 | |||||||||||
| No. | No. | |||||||||||
| One employee received remuneration |
between | 870,000-679,000 | (2021:1). | |||||||||
| Key management personnel |
include the Trustees and | Chief Executive | Officer. Total remuneration | paid was f84,470(2021: | ||||||||
| 696,471). | ||||||||||||
| During the | year no Trustees | received | any remuneration | or benefits | in | kind (2021.None). Trustees | did not receive any | |||||
| reimbursment ofexpenses |
during the | year | (2021.ENil) |
| TANGIBLE FIXEDASSETS | SMNC | EEH Almshouse | Total Freehold |
|---|---|---|---|
| Almshouse | Properly | ||
| Valuation | |||
| At 31 December | 6,000,000 | 4,700,000 | 10,700,000 |
| Additions | |||
| Revaluation | 1,400,000 | 1,400,000 | |
| At 30 December 2022 | 7,400,000 | 4,700,000 | 12,100,000 |
| Depreciation | |||
| Charge for the year | 148,000 | 94,000 | 242,000 |
| On revalued assets | |||
| At 30December 2022 | |||
| Net Book Value | |||
| At 30 December 2022 | 7,400,000 | 4,700,000 | 12,100,000 |
| At 30 December 2021 | 6,000,000 | 4,700,000 | 10,700,000 |
| INVESTMENT PROPERTY | INVESTMENT PROPERTY | 2022 | 2021 |
|---|---|---|---|
| Valuation | |||
| At 30 December | 4,794,500 | 3,811,976 | |
| Additions | |||
| Surplus/(deficit) | on revaluation | 27,093,509 | 982,524 |
| At 30 December | 2022 | 31,888,009 | 3,811,976 |
| Listed | Listed | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| securities 2022 | securities 2021 | |||||||||
| Market value | ||||||||||
| At 30 December | 13,982,757 | 13,889,189 | ||||||||
| Additions | 1,000,000 | |||||||||
| Disposal proceeds | (2,699,081) | |||||||||
| Realised/unrealised | gains | (1,467,993) | 1,792,649 | |||||||
| At 30 December | 12,514,704 - | 13,982,757 | ||||||||
| Investments at market value comprise: |
||||||||||
| 2022 | 2021 | |||||||||
| Afi the fixed asset | investments | are | held | in | the UK. | 8 | ||||
| Listed investments | 12,514,764 | 13,982,757 | ||||||||
| Unlisted investment in |
subsidiaries | 2022 | 2021 | |||||||
| 8 | 8 | |||||||||
| Edward Edwards | Development | Company | Limited | 100 | 100 | |||||
| Company noi 11847761 | ||||||||||
| Country ofregistrahonyoperatron: | England | and Wales | ||||||||
| principal activities | Development | of building | projects | |||||||
| Total Fixed Assetinveslments | 12,514,864 | 13,982,857 | ||||||||
| DEBTORS | 2022 | 2021 | ||||||||
| 8 | f. | |||||||||
| Trade debtors | 5,373 | 18,766 | ||||||||
| Prepayments and |
accrued income | 36,525 | 13,491 | |||||||
| Amounts due from subsidiary |
undertakings | 3,183,028 | 2,458,256 | |||||||
| 3,224,926 | 2,490,513 | |||||||||
| CREDITORS: amounts | falling | due within | one year | 2022 | 2021 | |||||
| 2 | 6 | |||||||||
| Trade creditors | 18,327 | 26,611 | ||||||||
| Social security and other | taxes | 4,532 | 5,957 | |||||||
| Accruals and deferred income | 171,246 | 12,000 | ||||||||
| 194,105 | 44,568 |
| Funds bif | Incoming | Resources | Transfer | Gainsl | Carried forward | ||
|---|---|---|---|---|---|---|---|
| (restated) | Resources | expended | (Losses) | ||||
| 8 | E | E | E | ||||
| Designated | funds | 9,458,256 | (311,950) | 1,582,468 | 28,894,000 | 37,602,774 | |
| General funds | 24,334,143 | 673,768 | (1,135,913) | (1,562,468) | 373,516 | 22,683,048 |
| SUMMARY | OF FUNDS | ||||||
|---|---|---|---|---|---|---|---|
| Funds blf | Incoming | Resources | Transfer' | Galnsl | Carried forward | ||
| Resources | expended | (Losses) | (restated) | ||||
| 6 | E | E | E | ||||
| Designated | funda | 8,246,905 | 1,266,039 | (54,688) | 9,468,266 | ||
| Generalfunds | 23,076,262 | 687,899 | (921,041) | (1,266,039) | 2,557,282 | 24,334,143 | |
| 2,502,574 | 33792,399 |
| General | Designated | Total | Total | |
|---|---|---|---|---|
| fund | fund | 2022 | 2021 | |
| E | 8 | 8 | 6 | |
| Tangible fixed assets | 7,400,000 | 4,700,000 | 12,100,000 | 10,700,000 |
| Fixed asset investments | 12,514,864 | 12,514,864 | 13,982,857 | |
| Investment property |
2,788,009 | 29,100,000 | 31,888,008 | 4,794,500 |
| Debtors | 41,898 | 3,183,028 | 3,224,928 | 2,490,513 |
| Cash st the bank and in hand | 132,380 | 619,746 | 752,126 | 1,871,097 |
| Creditors due within one year | (194,105) | (194,105) | (46,568) | |
| 22,683,046 | 37,802,774 | 60,285,820 | 33,792,399 |
| Restated | Restated | ||||
|---|---|---|---|---|---|
| General | Designated | Total | |||
| fund | fund | 2021 | |||
| E | E | E | |||
| Tangible | nxed assets | 8,000,000 | 4,700,000 | 10,700,000 | |
| Fixed asset investments | 13,982,857 | 13,982,867 | |||
| Investment property |
2,494,500 | 2,300,000 | 4,794,500 | ||
| Debtors | 32,257 | 2,458,256 | 2A90,513 | ||
| Cash at | the bank and | in hand | 1,871,097 | 1,871,097 | |
| Crednors | due withm one year | (48,588) | (46,568) | ||
| 24,334,143 | 9,458,256 | 33,792,399 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| 6 | ||||||
| Net movement on |
funds | 26,493,421 | 2,469,232 | |||
| Deduct. Investment | income | (565,456) | (779,287) | |||
| Add: Depreciation | charge | 242,000 | 214,000 | |||
| AddlDeduct Gains |
I | (losses) on investments | (25,825,516) | (2,775,173) | ||
| Add/Deduc( Revaluation |
on tangible | fixed assets | (1,642,000) | 272,599 | ||
| (Increase) in debtors | (734,413) | (743,889) | ||||
| Increase in crednors |
147,537 | 17,797 | ||||
| (1,684,428) | (1,324,721) |
| Southwark | Joseph Cogler | |||
|---|---|---|---|---|
| (Cltdatclturcli | Holiday Trust | |||
| and St Mary's) | ||||
| Ch8 n'ties | ||||
| Tangible 5xed assets | 12,100,000 | |||
| Fixed asset investments | 12,082,185 | 432,679 | ||
| Investment | property | 31,888,009 | ||
| Debtom | 3,224,926 | |||
| Cash atthe bankin | hand | 752,126 | ||
| Creditors | due within | one year | (I 94,105) | |
| 69,863,141 | 432,679 |