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|||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|
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||||||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|||||||||
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|||||||||||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|