2023-12-30-accounts - Southwark Charities

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		General	Total	Total
	Note	Funds	2023	2022
		2	Ê	Ê
lncomefrom:
Donations	2	1,10'l	1,101
Charitableactivities	3	431,966	431,966	108,312
lnvestmentlncome	4	501,529	501,529	565,456
Total income		934,596	934,596	673,768
Excêptional: Profitondisposal of assefs	5	45,933,973	45,933,973
Expenditureon
Rais¡ng funds (Property)	6	64,224	u,224	60,292
Charitable activities:
Membersupport	7	1,375,419	1,375,415	507,264
Almshouseprovision	7	826,225	826,225	885,016
Other activities	7	921,585	921,585	311,950
TotalExpenditure		3,187,462	3,187,452	1,452,562
Netincomingresources /(resources expended) before ¡nvestment gains/(losses)		43,681,117	43,681,117	(778,7941
Gains/(losses)onrevaluation oninvestment assets		751,650	751,650	25,625,5'.t6
Gains/(losses) on revaluation oflangible assets		148,000	148,000	1,642,000
Netincoming ¡esources		44,580,767	44,580,767	26,488,722
Grosstransfersbetweenfunds
Netmovement infunds		44,580,767	44,580,767	26,488,722
Reconciliation of funds
Funds broughtfonrvard	,t8	59,971,294	59,971,294	33,482,572
Totalfundscarriedforward	t8	104,552,06'l	104,552,061	59,971,294

	Fortheyea	rended30Dece	mber2023
		Group		Char¡ty
	Note	2023	2022	2023	2022
		â		E
Ffxedassets
Tangible assets lnvestmentinProperty Listed lnvestmenls	11 12 l3	47,334,000 24,788,009 11,766,414	14,942,088 31,888,009 't2,514,8U	47,334,000 24,788,009 11,766,414	12,100,000 31,888,009 12,514,8æ
		83,888,¡123			56,502,873
Non-Current Assets
Debtors receivable after oneyear	,14	14,500,000		14,500,000
CurlentAssets
Debtors Cash ând Bank	14	5,833,295 457.759	70,514 752,600	4,110,148 457,755	3,224,926 752J26
		6,29r,054	823,114	4,567,907	3,577,052
Creditors: amounts fallingduêwithinoneyearl5		(127,418)	(1s6,781)	(123,509)	(r94,105)
Net Cun€nt Assotg		6,183,638	626,333	4,4M,398	3,782,947
TotalAssetsleasCutrentLlabilities		l0¡1,552,061	59,971,294	102,832,821	60,285,820
NotAssEta		104,552,061	59,971,294	102,832,821	60,285,820
Rêpresented by:
Unrestricled funds
General Funds		29,641,2il	25,551,548	21,922,497	22,683,046
Designated Fund		74,910,807	34,419,746	80,910,324	37,602,774
Totelfunds		104,552,061	59,971,294	102,832,821	60,285,820

		Note	2023	2022
			Ê	€
Net cashflowsprovided by operatlng activ¡ties		23	(2,630,463)	(938,798)
Gashflows from¡nvestingactivit¡es
lnvestmentlncome			501,529	565,456
Purchases ofproperty,plant and equipment			(23?,4eÉ.)	(745,622)
Proceeds from disposal of longtermlease interest			567,557
Proceeds from disposal of listed investments			I,500,000
Netcash provídedby/ (used in)investingact¡v¡tíes			2,335,922	(180,166)
Net ¡ncrease / (decrease)¡ncash			1294,841l.	(l,1I8,964)
Cash and cash equivalents broughtfonra¡d			752,600	1,87,t,564
Cash andCashequ¡valents carried fon¿ard			457,759	752,600
A:Analvsisof cash and cashequivalents			2023	2022
			e
Cash in hand			1,971	1,463
CashatBank			78,981	131,391
Cash in notice deposits			376,807	6',19,746
Total cash and cashequivalents			457,759	752,600
B:Analvsisof chanoes in netdebt
	Atbeginn¡ng of year	Cashflows	Other movements	At end ofyea¡
	r	€	€	f
Cash	752,600	(294,8411		457,759
Loans falling due w¡lhin oneyear
Loans felling due after more than oneyear
Total	752,600	1294,8411		457,759

	For the yearended30 Decem	ber 2023
		2023	2022
2	lncomef¡omDonations	E
	lndividual givingdonalions	1,10'l
		1.'lo1
	All income fromdonalionsisattributable to un¡estrlcted funds in both years.
		2023	2022
3	lncomefromCharítable Act¡v¡ties		e
	Almshouses weekly mainlenance charges	83,966	95,557
	JTRE Management Fees	324,000
	Other charitable activ¡ties	24,000	12,755
		¡till,966	108,312
	All income from charitable activities is attributable to unrestrictedfundsin bolh	years
		2023	2022
4	lncomefrom lnvestments	s	Ê
	Rental income -investmenlproperties	25,137	72,619
	Dlvidend incomefromlisted ¡nveslments	456,129	480,133
	Bank ¡nterest recêived	20,263	12,704
		50t,529	565,456
	All incomefrominvestments is attributable to unrestrictedfundsinbolhyears.
5	Exceptional: Profit ondisposal ofassets	2023	2022
		€	Ê
	Sale of longtermleaseinteresl	79,059,525
	Sale of lntellectual Propêrty rlghts	5,250,000
	Property sales income	2,790,739
	Total propertydisposalincome	87.100,264
	Property purchase costs	(4,690,739)
	Long term lease interest disposal	(33,800,000)
	lntellectual Property rights disposal	(2,675,552)
	Totâl propertydisposal costs	(41,166,291)
	Profit/(Loss) on disposal of assets	45,933,973

		2023	2022
6	Costof raisíngFunds	Ê	â
	Rental property Maintenance	'16,334	124 28,
	Support Costs (Note 8)	47,890	168 32,
		64,224	80,292

7	Expendlture on CharitabloActiv¡ties	Di¡ect ExpenditureMembersupport Ê€[	Di¡ect ExpenditureMembersupport Ê€[	Almhouses Provisions	2023 I	2022 r,
	Grants Payable (see note11)		398,024		398,024	290,073
	EEH Residents Subsidy		395,773		395,773
	Almshouses Expenses Discretionary Payments Artstralegy Ch¡¡stmaspartiesandgifrs		261,883 28,500 58,500 39,223		261,883 28,500 58,500 39,223	190,999 28,805 29,431 14,200
	Summer holiday costs cardenpartycosts		10,152 2,il4		10,152 2,544	&r,061
	Supportcosts(see note8)		138,301	783,706	922,007	411,615
	Governance costs (see note9)		42,519	42,519	85,037	6l,136
	Total expend¡turef¡omcharitable act¡v¡t¡es 2023		1,375,419826,225		2,201,643	{,080,320
	Other activit¡es
	Redevelopment fees	921,585			921,585	311,950
	Total expenditure2023	921,õ85	1,375,4'.19826,225		3,123,228	1,392,270
	Total expenditure2022		507,2&	885,016	1,392,270
I	Support Costs	Cost	ofRaising	char¡table
			Funds r.	Act¡vitiesI	2023 €	2022
	Salaries&National lnsurance		39,105	221,593	260,698	135,385
	Pensions		2,147	12,165	14,312	8,835
	Tra¡ning		96	5M	640	1,522
	Rates-Office		470	2,665	3,135	3,807
	lnsurances-Office		240	1,360	1,600	5,437
	Telephone-Office		485	2,747	3,232	2,944
	Printlng, Postage & Stationery		715	4,054	4,769	3,334
	Computer expenses		2,098	If,887	13,985	26,797
	Repai¡s & Maintenance-Office		119	672	791	223
	Bank Charges Travel Expenses Subscripllons		112 r55 911	637 880 5,160	749 1,035 6,07't	516 2,510 7,510
	Sundry Expense.Office		1,237	7,010	8,247	2,963
	Depreciation			148,000	148,000	242,000
	Adverlising			502,633	502,633
	Total Supportcosts2023		47,890	922,007	969,897	M3,783
	Total Support Costs2022		32,168	411,615	443,783

	Fortheyearended	30 December 2023
9	Governance Costs	2023	2022
		Ê	€
	Audit Fee6	17,72',1	21,5ø2
	Other accounlancy Fees	5,200	4,615
	Legal & Professlonal Fees	40,921	22,268
	Staff support costsperNote(see note12)	21,155	12,671
		85,037	61,t36
l0	Netlncome / (Expenditure)	2023	2022
	Net lncome/(expenditure) is stated afier charging:	€	€
	Depreciation of tangiable f¡xed assels:owned by thecharity	148,000	242,000
	Audilors'remuneration
		17,721	21,582

	For the yea	rended30 December 2023
11	GrantAwards	2023	2022
		r.	€
	Aslley & CooperTRA	8,670	7,000
	AGE UK	20,800	23,000
	Artlnthe Park	II,759	6,400
	BallersAcådemy		500
	Bede House		7,500
	BêrmondseyArtists	6,468
	BermondseySl TRA		500
	Blackfriars Settlement	36,500	31,500
	BlindAid	7,000	6,000
	Brandon3TRA	2,000	1,700
	Breath of life	4,900
	Break the Barrier	'1,500
	Barlow & CongreveTRA	5,984
	Bolivia Latin Age	'1,995
	Cambenvell Skylarks	800	1,400
	Cíty Hope Church	5,500
	CoinSlreelCommunity Centre		3,000
	Community Southwark	15,996
	Copleston Centre	15,125	rz,so¡
	Creative Adult Playtime	2,OOO
	Docklands Settlement	1,700	6,060
	Downside Settlement		1,500
	Dot Collective	7,000
	Draper Together	2,835
	EFA London		3,821
	Elim House Community	22,428	27,504
	EntelechyArts	5,000	2,500
	Excel Beyond Barriers	4,740
	FlashyWingsM¡nistry		3,000
	Goose Green Lunch Club	1,110	820
	Grief Matters	2,675
	GuinnessTrustPagesWalk		360
	llluminalêd Arts	6,000
	Kingswood Estate TFIA		4,360
	KeetonsTra	2,750
	Keka	I,860
	Link Agê	20,000	10,000
	Lad¡esofV¡rtue	õ,400
	London BubbleTheatre	3,000	6,1 13
	London Senior Social	48,860	57,720
	Lordship Lane Baptist Church	6,000
	Longf¡eldTRA	3,000
	MagdalenHallTRA	2,980
	MAN Elders	6,000
	Mental Fight Club	5,000
	Millwall CommunityTrust	6,000
	Mint St Music Festival		340
	Nunhead'sVoice	l1 ,000	6,000
	Pecãn Foôdbânk	6,000
	Paxton GreenTB	4,900
	Purple Ladies	1,980
	Royal British Legion		750
	RockinghãmCommunity	1,580
	Silverfit	9,518	9,8õ0
	Southwark Pensioners Centre	5,512	11,425
	Southwark Playhouse	3,600	1,800
	Spring Community Hub	8,880
	St Johns Watworth		4,000
	StPaulsWalworth	1,000	1,455
	South London M¡ssion		945
	Time&Talents	25,000	20,000
	Walworth Golden Old¡es	5,000
		39530s	281,886
	Grants awarded to individuals	2,719	4,182
	EEH Residents Subsidy		3,505
	Total grants awa¡ded	398,024	289,573
l2	Staff Costs	2023	2022
		E	€
	Wages and salar¡es	234,613	147,214
	Social Security	21,5U	II,506
	Other Pension Costs	14,312	10,743
	Terminat¡on and RedundancyCosls	25,696	21,083
		296,205	190,546

For the yeçr ended30De	cember2023
Staffcosts reporledabove havebeen attocatedloresources expânded as:	2023	2022
	€	Â
Cost6 of ra¡singtunds Charítableaclivities-Direct costs Charilablesaclivities-supportcosls èovernancesupportcosts(flote9)	27,708 11I,485 135,817 21,195	23,5U 33,656 120,686 l2;671
	296,205	190,547
	2023	2022
The average montlynumber of empoyees during theyear	4	3
HidhêrPa¡dEmoloveès	2027	2022
Employeespaidovere60,000fellinto the following bânds;
e110,000 -8120,000
Ê70,000 - Ê80,000

Tang¡ble f¡xed assets-Group &char¡ty
Group	F¡eeHold Property €	Assets under construction â	Total I
Cost
3lstDecember 2022	12,500,000	2,442,088	14,942,088
Additions		40,167,464	40,167,464
D¡sposals	(5,100,000)	(2,675,552)	(7,77s,552)
At30December2023	---7õ0,õõo	39,934,000	47,334,000
DepreciatÌon
31st December 2022
Charge foryear DêpreciationonEl¡minationofRevalued assest	148,000 (148,000)		148,000 (r48,ooo)
At30Dêcember2023
Netbook value
At30Dêcember2023	7,400,000	39,934,000	47,334,000
At30Decembe.2022	12.500,000	2,42,058	14,942,08s

	The Trustees are satisf¡ed that thevalualions are ap	propr¡ate.
	Gharitv	SMNC Almshouse	EEH Almshouse	Other	property	Assets under construction TotalFreeehold Properties
		r	€		€	r.	e
	Cost
	3lstDecember 2022 Additions	7,400,0004,700,000				- 12,100,000 39,934,00039,934,000
	Assels lransferred fromsubsidiary Disposals At30December2023	-	lo,roo,ooo)		øltttttttti	- - 3t$4,ooo--	400,000 (5,100,000) 4?"334"000
	Dep¡ec¡ation
	31st December 2022
	Charge foryear DeprecialiononElimination of Revaluedassest	148,000 (148,000)					148,000 (148,000)
	At30Dêcembèr2023
	Net book value
	At30Dêcember2023	7.400,000				39,934,000	47,334,000
	At30December2022	7.400.000	4.700.000				12,100,000
14	lnvestmentpropsrty		GrouP 2023		2022	Charity 2023	2022
			f			e
	At31st December		3t,888,009		4,794,500	31,888,009	4,794,500
	Additions		22,000,000			22,000,000
	Disposals Surplus/(deficit) on Valualion		(29,100,000)		27,093,509	(29,100,000)	27,093,509
	At30December		24.788.009		3t.888.009	24,788,009	31,888,009

	Group		char¡ty
	2023	2022	2023	2022
Market Value	Ê		€
At31st December	12,514,784	13,982,757	12,514,7ã4	13,982,757
Additions
Disposal Proceeds	(1,s00,000)		(r,500,000)
Netgains/ (losses)onrevaluation	751,650	(1,467,9s3)	751,650	(r,467,se3)
At30December	11,766,414	12,514,764	11,766,414	12,514,764
All the fixed assest investments are held in the UK
	Group		charity
	2023	2022	2023	2022
Investments at market value compr¡se	C	e	e
Listed lnveslments	11,766,414	12,514,764	11,766,414	12,514,764
Unlisted lnveeslment¡nsubs¡diaries(seenotel5a)
Edward Edwards Development Company Limited	100	100	100	100
Companyno:11847761
Country of registration/operation: England andwales
Principalaclivities:Development of buildlngprojects
Total investments	11,766,414	12,514,864	11,766,514	12,514,864

Southwark Charities owns the lvhole oflheissuedordinary share capitalofEdwar England and Wales. The share capitalof the subsidiary consists of shares off1e Company Ltdisthe development of buildingprojects. The taxable profits of the su	ds Edwards D ach. The pr¡nc bsidiary are gi	evelopment Com ipalactivityof E fted to Southwar	pant Ltd, a compan dwards Edwards De k Charities.
		2023 c€	2022
Turnover		8,040,739
Cost of sales and administration expenses		(6,007,072)	(4,6es)
NetProfit		2,033,667	(4,6ee)
Amountgiftedtoparentcharity
Retainedínthêsubsidiary		2,033,667	(4,6991
The aggregate oflheassets, liabilitiesand reserves of the subsidiary were:
		2023	2022
		I	€
Assets		6,382,733	2,871,178
Liabilities		(4,663,593)	(3,185,705)
Aggregate share capital and resen es	-----	1,r1sJ4O	-----luî,lnl

Debtors:	2023 E	2022 €	charity 202NI	2022 Ê
Trâde debtors	2,781	5,373	2,781	5,373
VATrecoverable	14,596	28,6'16
Prepayments and accrued income	7,850	36,525	7.850	36,525
VATLoan debtors	558,068
OtherDebtors	5,250,000
Amounts duefromsubsidiary undertaking			4,099,517	3, f83,028
Total debtors duewithinoneyear	5,833,295	70,514	4,110,148	3,224,926
Other deblors dueafleroneyear	14,500,000		14,500,000
Total debtors	20,333,295	7ît-5.1¿	22,709,665	8,Æ7,9il

Cred¡tors: amounts fall¡ngduew¡th¡n one y	ear
		Group			char¡ty
	2023 €		2022 g		2023 I	€ 2022
Trede creditors	'14,940		29,066		14,933	18,327
Taxation and social security Accruals and Deferred lncome	7,229 105,247		4,532 163,183		7,22e 101,347	4,532 171,246
	127,416		195.781	---	ræF'ø	194,105

Grouo	Balanceb/f	lncome	Expenditure	TrânsfersGains/{Losses)	TrânsfersGains/{Losses)	Balanceclf
	€	€	€	â€		I
Designated Funds	34,419,746	45,933,973	(2,e33,070)	(2,657,8r'.21	148,000	74,910,807
General Funds	25,551,548	934,596	(254,382)	2,657,842	751,650	29,641,254
	59,971,294	46,868,569	(3,187,4621		899,650	104,552,061
Charitv	Balanceb/f	lncome	Expenditure	TransferGainsl(Losses)		Balancec/f
		€	€	[€		E
Designated Funds	37,602,774	45,259,525	(2,933,070)	833,095	148,000	80,9t0,324
General Funds	22,683,046	934,596	(r,613,700)	(833,095)	751,650	21,922,497
	60,285,820	46,194,121	14,546,7701		899,6s0	102,832,821
The designaled reserve fund represents the sums set asidebythe			husteesforrepairandmaintenance including		improvement or rebuildingof
thè âlmshouses.
COMPAFIATIVEINFORMATION:Reconciliationofmovement¡nfundsforYeaÌended30December2022
9r9!E	Balanceb/f	lncome	Expend¡ture	TransferGains /(Losses)		Balancec/f
	r	Ê	€			E
Designated Funds	7,000,000		(311,950)	837,696	26,894,000	u,419,746
General Funds	26,482,572	673,768	(1,140,612)	(837,6e6)	373,516	25,551,548
	33,482,572	673,7s8	11,452,5621		27,267,51659,971,294
Charitv	Balanceb/f	lncome	Expenditure	TransferGains/(Losses)		Balancec/f
	I	f	€	€€		€
Designated Funds	9,458,256		(311,950)	1,562,468	26,894,000	37,602,774
General Funds	24,33/.,143	673,768	(1,135,e1 3)	(1,562,468)	373,516	22,683,046
	--5tpee

Analysisofassetsandliabilit¡esbetweenfunds
			2023
	Genêral	Designated	Total
	Fund	Fund	Funds
GrouD	e	E	E
TangiblB t¡xed assets	7,400,000	39,934,000	47,334,000
Fixed assest investment	11,766,414		11,766,414
lnvestmentproperty	2,788,009	22,000,000	24,788,009
Non - current assets		14,500,000	14,500,000
Debtors	5,833,295		5,833,295
Cashal lheBank ând in hând	80,952	376,807	457,759
Creditors duewithin oneYear	(127,416)		(127,416)
Year ended30December2023	27,741,254	76,810,807104,552,061
Char¡tv
Tangible f¡xed assels	7,400,000	39,934,000	47,334,000
Fixed assestinveslment	11,766,414		11,766,414
lnvestmentproperty	2,788,009	22,000,000	24,788,009
Non- currentassels		14,500,000	14,500,000
Debtors	f0,631	4,099,517	4,110,148
Cash at the Bank ãnd in hand	80,952	376,807	457,759
Cred¡tors due with¡noneYear	(r23,509)		(123,509)
At30Decembe¡2023	21,522,497	80,910,324102,832,821
			2022
	Gênetal	Designatèd	Total
	Fund	Fund	Fund
Groun2022comparative	Ê	I	€
Tangible fixed assets	10,242,088	4,700,000	't4,942,O88
Fixed assest investments	12,514,864		12,514,864
lnvestmentproperty	2,788,009	29,100,000	31,888,009
Debtors	70,514		70,514
Cash at the Bank and¡nhand	132,854	619,74;	752,600
Creditors due with in oneYear	(127,416)		(196,781)
At30Dêcember2022	25,620,913	34,419,74859,971,254
Charitv2022comparative
Tangible f¡xed assets	7,400,000	4,700,000	12,100,000
Fixed assest ¡nveslment	12,514,864		12,514,864
lnvestmentproperþ	2,788,009	29,100,000	31,888,009
Debtors	4l,898	3,183,028	3,224,926
Cash at the Bank and¡nhand	132,380	619,746	752,126
Creditors due with in oneYear	(1e4,105)		(r94,10s)
At30Decembe¡2022	22,683,048	37,602,774	60,285,820

Reconciliation of net ¡ncometonew cashflow fromoperat¡ng act¡v¡t	y
	2021	2022
NetMovement on Funds	44,58O,767	26,488,722
Deduct: lnvestmênt lncome	(50r,52e)	(565,456)
Add: Depreciation Charge	148,000	242,000
Deduct: Prolit on Long-term lease inlerest disposal	(17,799,973)
DeductGains onLong{ermlease ¡nterest disposel	(28,r34,000)
Deduct: Gains on revlualíon oflnvesfmenls	(751,650)	(25,625,5r6)
Deduct: Gains on revalualion ofTangibleFixedAssests	(148,000)	(1,4f2,000)
(lncrease)/Decrease in debtors	45,287	10,419
(Decrease)/lncrease in Cred¡tors	(69,365)	'153,033
Netcashtlowfrom operating act¡vit¡es	(2,630,463)	(938,798)

respective assetsandliabil¡tiesarei
	2023	2022
	Southwark	Southwark
	(Chr¡stchurchandJoseph Collier St.Mary's) HolidayTrust Char¡lies	(Christchurch and Sf.Mary's) Charilies	Joseph Coll¡êr Holidayïrusl
Tangible fìxed assets	7,400,000	12,100,000
Fixed asset investments	1I,766,514	12,082,185	432,679
lnvestmentproperty	3f ,888,009	31,888,009
Debtors	3,550,886	3,224,926
Cash at the bank in hand	457,760	752,126
Creditors due within oneyear	(106,637)	(194,105)
	54.956.533	59,853,141111,67s