Registered Charity Number 1148832 Registered Company Numbèr 07645599 ST. MARGARET'S HOUSE ST. MARGARET'S HOUSE ANNUAL REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
ST. MARGARET'S HOUSE Contents Pages Trustees, officers and advisers Report of the trnslees Report of the auditors 10-13 SteMent of financial activities and income and expenditure account 14 Balance sheet 15 Statement of Cash flows 16 Notes to the financial statements 17-27
ST. MARGARET'S HOUSE TRUSTEES, OFFICERS ANO ADVISERS YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Reference and Administrative Details Charity Name Sl Margaret's House Charity Nurllber." 1148832 Company Number.. 07645599 Registered Officeloperalional address." 2 1 Old Ford Road. London E2 9PL Contact Email info slmar arelshouse.or Telephone 020 8980 2092 Website". ww.slmar aretsho Board of Trustees Fr Alan Green (Chair wel 27105120211 Ms Man3 Mahil ITreasurerl MISS Barbara Perroti Ms Shamimara Choudhury Rev Brian Charles Ralph Iwef 27105120211 Mr Robin Froggalt-smith IActing Chair Resigned 27106120211 Mr Goidon Shrigley (Chair Resigned 24107120201 Ms Sandhya Sharma (Resigned 31101120211 Ms Rachel Schon (Resigned 19101120211 Mr Timolhy Bell (Resigned 07108120201 Ms Lindsay Harrod (Rèsigned 19111120201 Mr Daniel Pill (Resigned 19111120201 Company Secretary & Chief Executive Anthony Hardie Principal Bankèrs HSBC, 465 Belhnal Green Road, London E2 gow Solicitors Anthony Collins Solicitors LLP, 34 Edmund Street B3 2ES Auditors Moore Kingston Smith LLP, 60 Goswell Road EC1 M TAD
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Trustees Report 2021 The Iruslees present their report and the financial statements lor the year ended 3151 March 2L)21 which have been prepared in accordance wilh the Charities Act 2011 and Companieg Act 2006 and in accordance with the Charitie3 Statement of Recommended Practice IFRS 1021, current legislation and the articles and memorandum of association. The trustees have laken advantage of the simplified disclosures available to smaller companies through Part 15 of the Companies Act 2006, including exemption from preparing 3 Strategic Report. Sl. Margaret's House is a communily-led neighbourhood charity founded In 1889 10 sUPPOrt local people in Belhnal Green. our tnission is lo promote positive social change by ¢realing opportunibes lor people to come together and play a more active part in their community. From mid-M8rch 2020 everything here ground to a hall as it did naiionwide, as 3 resiilt ol the COVID-19 p8ndemic. We were quick lo pick up the pieces and adjust to the various new normals that came to light and with the support ol furloLJgh, funders and rents we have more or less continued lo thrive Structure, Governance and Management Governing Document The organisation is 8 company limited by guarantee and a registered charity. Its constilLJtIDn Is logged willi Iliv Cliiiiily C(Jniiiiissioii. T1ie charitable company is governed by its DAemorandum and Articles of Association. Mi99ion and Values Sl Margaret's House Selllemenl has a long tradition ol working with the people ol Bethnal Green and the wider community. Our main aims are to engage with and empower local groLJPS and individuals by the provision of facilities and servi¢es Objectives The Obiects of the Charity are the provision of a centre or centres conducted accoroling to Christian principles lor the advancement of the Chr151ian religion, lor the advancement of education. the ielief of need. hardship or distress and other charitable purposes for the gener81 benefit ol the Inhabitants ol the neighbourhood ol the Borough ol Tower Hamlets and for those purposes land without prejudice to the generality of the foregoingl Ihe Charity may providè rèsidential accommodation for any person sharing In that work. all such persons constituting the Residents ol the House. The organisalion also aims lo remain a well- administered, cosl-effective and sustainable organisation". to demonstrate to all 5ervicE users and staff an ethos of friendliness, inclusion and integrity," to be recognised externally as skilled, focused and aGcounlable." and lo work co-operatively andlor in partnership with others. The trustees have paid due regard to the Charity Commission guidance on public benefit and to the provision of the Equality Act 2010 In deciding what a¢tivities the charity should undertake.
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE St Margaret's House aim5 to.. Provide a wide range ol social welfare InlIatIVeS lo serve and enable the local community, with an empha515 on arts and wellbeing services and activilies. Provide accornmodalion, encouragement and support for like-tninded organisalions. Provide piaclical sUPPOrt and opportunity for community networking and developing. Provide equalily of access and opportunity Remain a well-administered. cosls-effeclive and sustainable organi5alion. Demonstrate lo all service users and stall an ethos ol friendliness, Inclusion and integrity Be recognised externally as skilled. focus5ed and accountable Work co-operat1vely andlor In partnership with others locally and nationally Organisational Structure The Sl Margaret's House Council ol Management has overall responsibility for the strategic direction. policy and human and financial resources ol the organisalion. Day lo day operational management ol the organisalion is delegated by the Council to the CEO, Tony Hardie, who is responsible for enSLJring that the organisation dplivers the services specified through ils team of staff Recruitment and Appointment of Trustees The charity trustees are not more than lifleen members ol the House elecled at the Annuzl General Meeting of the House. The IiJslees form the Council of Management I"The Council"). Thè Council may co-opt persons to serve on the Council providing always that the number of co-opted members shall not exceed one third ol the total elected tnembership of the Council. Al every Annual General Meeting one third of those elected by the Annual General Meeting shall relire from office. The Gouncil seeks lo ensure a good mix of skills from the business, social and voluntary sectors and also has an ongoing policy ol Identifying suitable potential members. Trustee Induction and Training Sl Margaret's House has a password protÈcled Trustees Webpage that Includes all important working docunienls and a Tiuslees Induction Programme that covers all aspects of responsibilities, policy and proGedures. Related Parties All user-groups based at St Margaret's House sign a licence agreement slipLJlaling that they will act as affiliated societies ol the House and endeavour to further ils charilable aims. Aclion Reconcilialion SeNice lor Pea¢e IARSPI Alasic Bangladeshi Parents & Carers Association IBPCAI Bodywise British Stammering Agsociation IBSAI Con50rtium for Street Children Christ Mercy Gospel Church City & East London Bereavement senlCe East LondDn Cares Fevered Sleep Theatre Grand Union Orchestra Community Psychotherapy Network Freshwater Theatre Company
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Globe Communily Project Independent Workers Union GB IIWBGI NMC Recrjrdings Poors Land Charity Queen Adelaide5 Charity Quaker Social Action Roma Society Second University House Trust Speak Spilallields Mu51¢ Tower Hamlets Friends & Neighbours ITHFNI Tower Hamlets Old Peoples Welf3re Trust Tower Hamlets Wheelers University ol the Third Age IU3AI Wish Womens Mental Health Charity Charity Govèrnance Code Sl. Margaiel's House has completed a sell-assessmenl against the updated Charity Governance Code. The core substance of the code consists of seven kèy princip,es. These are underpinned by the core role and responsibility ol the trustees-. 1 Org3nisalional purpose 2. Leadership 3. Integrity 4. Decision-making. risk and control 5. Board effectiveness 6 Diverslty 7 Openness and accounlabilily Ovèrall Ilitr cl)arily Ivigets a very sigiiilicanl proportion of the recommended and best practice for governance contained within the code across the seven areas and continues to strive to improve. Risk Management The Board ol Trustees has ieviewed the major risks to which the oiganisation is exposed and a further review is being undert3ken In 2022 Procedures are In place or being eslablished as appropriate lo miligzte idenlified risks. Internal control risks are minimised by the Implemenlalion ol prDcedures for aulhoiisation of all transactions and services. Procedures are In place and under review lo ensure the health and safety ol staff, volunteers. clients and visitors in the offices and also in relalion lo data protection and ¢onfidentiality COVID -19 Crisis and our response. Like many othei oiganisalions St Margaret's House has ern widely affected by COVID- 19. From late March 2020 we furloughed mosl staff and closed all projects, our doors stayed open however lo support those groups here supporting vulnerable adults. During the Intervening months we look all measures necessary lo comply with the government's guidance on managing the risk ol COVID-19 We have carried out risk assessments znd ghared the results with all of the people who work here We have cleaning. handwashing and hygiene procedures In line with guidance We have taken all reasonable steps to help people work safely from a COVID-19 secure workplace We have taken all reasonable sleps to maintain a 2m distance In the workpl8Ge Where people cannot kee? 2m apart we have ensured at least a 1 m distance and taken all the mitigating actions possible lo manage IranstnlS5ion risk Sl. Margaret's House Is well-placed lo lake on the difficult future we all share and sUPPOrt our local community as best we can. Fundraising Règulations Statement
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Sl. Margaret's House had no fundraising activities reqLJiring disclosure under S162A of thè Charities Act 2011. The charity does not eng8ge in fundraising activities and no donations are sought from the public We do not use third p3rties to assist with fundraising and the charity received no complaints in the year regarding Its fundraising practices. Achievements and Performance Our Community Projects Our ex¢ellenl vegan calé, the Gallery Calé, has had the haidesl time ol all ol our piojecls Footfall remains hall of what il was and most staff have been furloughed mosl of the lime. VJe expe¢l a gradual recovery. Ayoka our charity shop has bounced back alter lockdowns and is almost as busy as il was. Our Comms Team no longer tenable was disbanded with staff leaving and unavoidable redundancies. However remaining admin and fin3nce staff continue creating the Irarnework loi our ongoing success. Arts and Wellbeing From April 2020 St Margaret s House faced like many olhei Arts and Wellbeing organisalions huge challenges due lo the Covid-19 pandemic and lockdowns. We started the year unsure how we could keep any kir)d of connection with our audiences and communities and finished the year In an incredibly exciting place despite Ihe challenges. We were lucky to gain OLJr first ever funding from Arts Council England this year from the Covid Emergency Fund which enabled us to REACH out and ¢ornnect in new ways IhroLJgh a new digit31 platform especially created lor Sl Margaret's House- REACH. With this lund we". Created 133 opptsrtunilies for communities to engage online including heritage work5hgps. dance, movement, crall, Kids activities. podc.asts and singing workshop5 For this we worked with our Associate Artist Companies Bric a Brac Thealre and Lemon House Theatre as well as valued freelancers who SLJPPOrt Sl Maigarel'5 House Highlights Included We cre31ed paid work for 35 arts freelancers who were not able lo benefit from the furlough scheme and had limited other work opportunities due to pandemic lockdown We reached 1053 people online. A lot ol these are new audiences lo SMH and people who may have not engaged online before Wè've intro(tU¢e¢ more people to our work In 4 months Oy trying a new approach than we COLJld have done using our physical spaces. We collaborated with g community group5 or organisations including Tower Hamlet5 Young Carers and East London Cares. We also received from the London Community Response Fund la fvnd especially set up by London Foundations lo support cc>mmunitie5 through the pandemicl which enabled us to develop.. A series of 16 online workshops with East London Cares foi isolated older people in the East End and younger volunleers reaching 30 parlicipanls. These w(>rkshops included Art, Indian Dance, Yoga. Music, Wellbeing Workshops and even Drag.
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Hilarity Academy Between the 13th of July and the 3rd ol August, we delivered a course of four Zoom workshops. These weie focused reconnecting with the young people 3nd families as we had by this lime been In lockdown for & signili¢ant time. From January to the end March 2021, we clelivered 9 sessions online due lo being in second lockdown and produced three comedy films lor our YouTube page Despite the challenge the project has managed io deliver fLJn and laughter to 23 local young people aged 7 to 18 during the pandemic Molly's Masquerade We we re delighted to gain funding from the National Heritage Lottery for our project Molly's Masquerade investigating early LGBTQ heiilage Inspired by our discovery that a Molly House lan 18th Cenlury meeting p13ce lor gay men) existed close to U5 on Whiiechapel Road. Again, Impacted by lockdown and pandemic ihe delivery of this projecl-engaging communitie5 in LGBTQ heritage Ihrough creativity, research workshops, costume, singing and theatre- had lo be adapted. However. So lar Molly's Masquerade has reached 680 people and will continue to raise awareness ol LG8TQ issues into the next year with the Molly Ball. Gyhama Artsl (Awesome Artsll In September 2020 we began our Gyham8 Arts. project In partnership wilh our tenants Ihe Bangladesh P3renlS and Carers Association IBPCAI who support disabled 8dults from the Bangladeshi in Tower Hamlets and Newh3m. 12 workshops In thcalrc -kill4 partnering with Spare Tyre Theatre leading to a public Zoom sharing of their work to 25 community groups 24 the31re workshops lead by a Ihird-year degree and MA work placements from Royal Central School of Speech and Drama 12 workshops partnering with Choeolale Films where the group explored green screen effects and animation making Iwo films which they shared with an audience 0135 people in an online film premiere. Across Lockdowns we worked with 11 families on a weekly basis. Mulberry Tree of Plenty We were so excited lo be asked by artists Sara Heywood and Jane W3t15 and 5cienlist Dr David Chau lo collaborate with them on their project with University College London and be part of this year's Trellis Festival. The project 'Mulberry Tree of Plenty. explored the maleiialily ol the mulberry tree In Bethnal Green. We assisted in the creation of walks, workshops and events to support the project which included Working with the leam lo present Mulberry Taste & Virtual Walk on the 17th of October 2020 Using our Chzpel and film we cre3ted a virtual walk lo discover the slories 3nd heritage ol the niulberry trees ol Bethnal Green The exGiling culmination ol the project was the turning ol The Create Plsce into a live, sile- specific moving image Installation on the exterior windows ol the Create Place, for 3 days
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Open Door Season From August restrictions to Lockdown Onè lifted which enablecl us to open our doors and deliver a season in person Thi5 season illcluded.. Through London Response Funding we were able lo commission our Associate Artlsls Bric 3 Brac Theatre to develop their next Children s Show "The Ell Ihal Saved the Show" which played lo audience 0125 invited local families. On the third weekend ol September, we took part in Open House. We reached 75 people on the day as well as 8 volunteers from Open HoLJSe. In the first weekend of October. we also delivered a Fun Palace in person engaging over 63 participants ol all ages In fun activities including Marble Painting led by our Create Place practitioner Ginny Hawke, Sylvi3 Morgardo and craft with Haus Of. A150, in October we welcomed RSC actor Mark Lockyer and his much-acclaimed play "Living with the Lights On" for 3 nights of lanlaslic thealie. All performances were sold out lover 90 people) with standing ovations Irom the audience In November we worked with a project called UNITY which supports local young black enlrepreneurs. 25 members of our community were invited to join in This amazing season delivered through the challenge ol Lockdown and Tier systems culminated in two magical performances of Dicken Theatre's A Christmas Carol lo 48 people. Reimagine Between January and March 2021. we began our Reimagine online season. And Reimègine we did due lo another National Lockdown. IAlomen of Create Place.. online Gallery shared on our YouTube page with currently 91 views Inspiring Women workshop= an online workshop lo 12 young people aged 7-11 on "Inspiring Women" Virtual Get Togethers,. We worked Vith Trapped In Zone One and Inspiring City to 5UPPOrt and host three online gel logelhers to share films made by local young people on groups lo raise awareness om climate change. women s month and LGB TQ history month Writing Fantasy Workshops.. We worked with 13nt8sy writer Simon Maeder and 8 young people worked with Simon online for a day learning how to devise and write their own fantasy stories. A4U2 - Daily Arts Challenge- This was lor an online exhibition which is now on our YouTube page with 52 pieces ol arl created during lockdown submitted. The year 012020 to 2021 has been a massive challenge bul we hope that the above also rellecls some exciting developments piogress, innovation and positivity for the work of Sl Maigaret's House In the lulure.
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE Financial Review Sl Margaret'5 House has made an Operational Surplus 01 £42K In the year primarily due to a stable bul ieduced rental stream 1£327KI. HMRC Job Retention Scheme 1£244KI and reducing our staffing expenditure. Income £809K1£1,026K in 20201 Voluntary Income £402K1£22K in 20201 Inole 21 The increase c)1 In the year wère primarily due to HMRC JRS grants of £244K and Reslricled Grants ol £138K in the year Charitable Income £391K1£988K in 20201 (note 41 This Is income generated by the charity from its activities and is considerably down from the previous year dLJe to COVID 19 apart from renls £329K1£345K In 20201 after rent holidays. Expenditure (note 51 The overall fall In expenditure from £1.130k1202QI to £724K120211 Is due to a gelleral reduction on aclivily which iesulled in redLJcing costs and no spending15uspension of the Barn Icapitzll project in the year estimatèd at £3 2m Reserves Policy The Board has examined and reviewed Ihe organisalion's requirement In light of the main risks lo the organisation Al this lime the policy is lo have 3 months of unrestricted reserves lor ongoing operations eslimaled al £188K based on the 21122 budget The current general reserve ex¢luding fixed assets is £223K and no decision has been made to transfer any monies to the Designated fund at Iliig time until there is a clearer picture ol the future Impact ol the pandemic. Plans for Future Periods Review the fundraising plan for our proposed Arts & Wellbeing Centre (project on hold) Trustees lo update Business Plan 2021 2023 Continue to promote comrmunily projects. Ayoka, the Creale Place and the Canvas. Develop new cotnmunily p3rtnership activities. Further develop volLinteering opportunities FLJrther expand community cafe activities and events. Continue to Implernenl Ects-audil Report re¢ommen(Jations. Mainlain 95,1. + occupancy of all office and meeting room facilities. Develop new community engagement Initiatives. Chairman's Statement The Chair expre55es his thank5 to the Trustees and staff who served in an exceptionally dillicult year.
ST. MARGARET'S HOUSE TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2021 ST. MARGARET'S HOUSE STATEMENT OF TRUSTEES, RESPONSIBILITIES The Iruslees (who are also directors for the purposes ol company lawl are responsible for preparing the Trustees, Report and the financial slatemenls In aGcoidance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Praclicel. Company law requires IrLJStees to prepare financial slalements lor each financial year which give a true and fair view ol the state of the affairs ol the charitable company and the group and ol the Incorn Ing resources and application of resources. Ir)cluding Ihe income and expenditure, of the charitable group lor that period lfi preparing Ihese financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles In the Charities Statement ol Recommended PraGlIGe o Charities Accounting ISORPI". 3ke judgermenls, e51imales and assumptions that are reasonable and prudent., state whether applicable UK Accountin9 Standards Including FRS102 have been followed, subject to any material departures disclosed and explained in the financi31 st2temenls". prepare the financial statements on the going concern basis unless Il is Inappropriate lo presume that the charitable company will continue in busines5. The trustees are ie%ponsible lor keeping propec accoLJnting retords that disclose with reasonable accuracy at any time the financial position ol the charitable company and enable them lo ensure Ihat the financial slalements comply with the Companies Act 2006. They are also responsible lor safeguarding the assets ol the charitable company and the group and hence lor taking reasonable steps for the prevention and detection ol fraud and other irregLJlarities. The IIu51ees are responsible for the maintenance and integrity ol the corporate and financial Information Included on the chaiily's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legiglalion in other jurisdictions In 50 lar as the trustees are aware.. there Is no rèlevant audit inforrmalion ol which the charitable company's auditor Is unaware, and the trustees have taken all slep5 that they ought to have laken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that inlormation. Auditors The company's auditors, Moore Kingston Smith LLP have Indi¢aled their willingness lo continue In office. A resolution lo reappoint Moore Kinsston Smith LLP as auditors lor the ensuing year will be proposed al the annual general meeting Small Company Rules These accounts have been prepared in accordance wilh the special provision5 of Part 15 of the Companies Act 2006 relating lo small companie5 including exemption from preparing a Strategic Report and In accordance with the Charities Statement of Recofflmended Practice IFRS 1021. On behalf of the Board of Trustees Fr Alan Green Chairman Date..
ST. MARGARET'S HOUSE St. Margaret's House YEAR ENDED 31 MARCH 2021 INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. MARGARET'S HOUSE Opinion We have aLJdited the financial statements ol St. Margaret's House I'lhe charitable comparTry'l Iof the year ended 31. March 2021 which comprise the Slalemenl ol Financial Aclivilies lincorporaling the Income and Expenditure Accolintl. the Balance Sheet, the Cash Flow Slatement and notes lo the financial statements, including a summary ol significant accounting policies The financial reporting framework that has been applied In their preparation Is applicable law and United Kingdom Accounting Stèndards. including FRS 102 'The Financial Reporting Standard Applicable In the UK and RepLJblic ol Ireland. (United Kingdom Generally Accepted AcGounling Practicel In our opinion the financial slalements-. give a true and lair view ol the slate of the charitable company's affairs as at 31fi1 March 2021 and of Ils incoming resources and application ol resources, Including Ils Income and expenditure. for the year then ended". have been properly prepared in accordance with Uniled Kingdom Generally Accepted Accounting Praelice". and have b88n pr8pared in accordoDce with the requirements of thg CoTllPgni98 A¢1 2006. Basis for opinion We conducted OLJf 3udil in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities Ljnder those standards are further described in the Audilor's Responsibilities lor the audil of the financial statements section ol our report. Vle are Independent of the chari13ble company In accordance with the ethical requirements that are relevant lo our audit of th financial slalemenls in the UK Including the FRC'S Ethical Standard and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe that the audit evidence we have obtained is sullicienl 8nd appropriate lo provide a basis for our opinion. Con¢lusions relating to going concern In auditing the fInancal slalemenls, we have concluded that the trustees, Ljse of the going concern basis of accounting in Ihe preparation ol the lin3ncial statements Is appropriate. Based on the work we have performed, we have not identified any material uncertainties rel8ting to events or conditions that. individLi311y or collectively, may cast significant doubt on the charitable company's ability lo continue 3s a going concern for a period ol al least twelve tmonths frorn when the Iinan¢i¥l slalements are aulhorised for Issue Our responsibilities and the responsibilities of the trustees with respect to going concein are desGribed in the relevant 5ection5 01 th15 repDrt. Other information The other information comprises the Information included In the annual report. other than the financial slalemenls and our auditor's report thereon. The tiuslees are responsible for the other Infoimalion Our opinion on the financial statements does not cover the other Inloimalion and, exGepl lo the exleni otherwise explicitly slated In our report, we do not express any form ol assurance conclusion Ihereon. In connèction with our audit ol the financial statements, our responsibility Is to read the other Inlorrnalion and. In doing so, consider whether the other Information Is materially Inconsistent with the financial stalernents or our knowledge obtained in the audit or otherwise appears lo be maleri211y missl2ted. 11 we Identify such material inconsistencies or apparent material misstatemenls, we are required lo determine whether there 15 a material misstatement In the financial statements or a malerial misslalement ol the other information If, based on the work we have performed, we conclude that there is a material misslalemenl ol this other information, we are required lo ieport that fact. io
ST. MARGARET'S HOUSE St. Margaret'5 House YEAR ENDED 31 MARCH 2021 We have nothing to report In this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken In the course of the audit". the information given in the truslee5' annual report lor the financial year for which the financial statements ale prepared Is consislenl with the financial slalemenls, and the trustees, annual report has been prepared In accordance with applicable legal requirements Matters on which we are required to report by exception In the light ol the knowledge and understanding ol the company and it5 environment obtained In the COLirse ol the audit we have not identified material misslatemenls In the trustees, annual report We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to you if. in our opinion". 3dequate accounting records have not been kept, or returns adequate lor our audit have not been received frDm branche5 not V151ted by u5". or the financial statementg are not in agreement with Ihg accoLJnling records and returns", or certain disclosures of trustees. remuneration specified by law are noi made. or we have nDI received all the information and explanations we require for our audit., or the trusteeg were not entitled lo prepare the financial statements in accordance wilh the sm311 companies, regime and lake advantage Df the small companies exemption in pieparing the trustees, annual report and from preparing a slralegi¢ report. Responsibilities of trustees As explained more fully in the trustee5' responsibilities statement sel out on page 9, the Iru51ees (who are also the directors of the chanlable company for the purposes of company 12wl are responsible lor the preparation ol the financial 51atemenls and lor being satisfied that they give a true and 13ir view. and lor such internal control as Ihe Iiuslees determine Ig necessary to enable the preparation ol financial statements that are free from material misstalemenl, whether due to fraud or error. In preparing the financial statements, the trustees are ie5pon3ible lor assessing the charitable company's ability to continue as a going concern, disclosing. as applicable. matters related to going concern and using the going eoncern basis ol ae.counling unless the Iruslees eilher intend to liquidate the charitable company or to ceagè operations. or have no realislic alternative bLJI to do so. Auditor'5 responsibilitie5 for the audit of the financial statements Our objectives are lo obtain re3sc>n2ble assurance about wholher the financial statements as a whole are free frorm m3leiial misslalemenl, whether dLJe to fraud or error, and to Issue an auditor s report that Includes our opinion. Reasonable assurance is a high level ol assurance, bul Is not a guarantee Ihal an audit conducted In accordance with ISAS IUKI will always detecl a material misslalemenl when it exisls. Misstatements can zrise from fraud or eiror and are considered material il. individually or in aggregate. they could reasonably be expected lo Influence the economic decisions of users taken on the basis ol these financial statements. Irregularities. including fraud, ale Instances of non-compliance with laws and regulations We design procedures in line with our responsibilities, outlined above. to delect material mi551alemen15 in respecl of irregularities, including fraud. The extent lo which our procedures are capable ol detecting irregularities, including fraud is detailed below. Explanation as to what éxtent the audit was considered capable of dètecting irregularities, including fraud
ST. MARGARET'S HOUSE Sl. Margaret's House YEAR ENDED 31 MARCH 2021 The objectives of our audit in respect of fraud. are.. to identify and assess the risks ol material rnisstalement of the financial statements dLJe lo fraud", lo obtain sufficient appropriate audit evidence regarding the assessed risks ol material missl8temenl due to fraud. through designing and implementing appropriale responses to those assessed risks,. and lo respond appropriately to Instances ol fraud or suspected fraud Identified during the audit. However, the primary re5pon51bility lor the prevention and detection ol fraud rests with both management and those charged with governance ol the charitable company OLJr approach was as follows.. we obtained an understanding ol the legal and regulatory requirements applicable lo the charitable company through the use of permanent audit file information, Lipdated this year lor any changes that have been Identified by managefflenl or by our own investigations and considered that the most significant are the Compar)ies Act 2006, the Charitie5 Act 2011, the Charity SORP, and UK financial reporting standards as iSSLJed by the Financial Reporting Council., we obtained an understanding ol how the charitable comp3ny complies with these requirements by discussions with management and those ch3rged with governance and Ihrough reviews of relevant ac¢ounling and management records". we assessed the risk ol material misstalemenl of the financial slalemenls. including the risk ol material misslalemenl due to fraud and how il tnight occur. based on our work as outlined above." we enquired ol management and those charged with governance as lo any known instances ol non-cc>mpliance or suspecled non-compliance with laws and regLJlations. using associated documentary evidence lo beller undersl2nd items of interest, based on this understanding, we designed Specific appropri8le audit procedures lo Identify Instances of non-compliance with laws and regulalions. As well as specific audit lesling, this included appr03ching accounting records with an inquisitive and sceptical mindset such that we examined Itenis that were fèll to be of interest or ol higher risk in this area. and obtaining additional corroborative eviclence as iequiied To address the risk of fraud through management override ol controls, we carried out the following work.. procedures were undertaken lo idenlily any unLJsual or unexpected matters, and the rationale behind any such matters was examined., journal entries were reviewed lo idenlily unusual transactions", judgements and assumptions made In determining the accounting eslimales set out in the accounting policies were reviewed. As part of an audit In accordance with ISAS IUKI we exercise professions1 judgement and maintain professional sceplicism throughout the audit. We also". identify and assess the risks of material misstalemenl ol the financial slalements, whether due to fraud or error. design and perform audil procedures responsive to those risks, and obtain audit evidence that Is sufficient and appropriate to provide a basis for OLJr opinion The risk cil not detecting a material misstatemenl resulting from fraud is higher than for one resulting from error, as fraud may Involve collusion. forgery, Intentional omissions, misrepresenlations. or the override of Internal ¢onlrol, obtain an understanding ol internal control relevant to the audit in order to design audit procedures that arè appropriate in Ihe circumslances, bul not lor the purposes of expressing an opinion on the effectiveness ol the tharilable company's Internal controS', 12
ST. MARGARET'S HOUSE St. Margaret's House YEAR ENDEO 31 MARCH 2021 evaluate the appropriateness ol accoLJnting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.. conclude on the appropriateness of the trustees, use ol the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exisls related to events or conditions that may cast significant doubl on the charitable company s ability lo continue as a going concern If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report lo the related disclosLJres In the financial statements or, If such disclosures are Inadequate. to modify our opinion Our conclusions are based on Ihe audit evidence obtained up to the date DI our auditors report. However, future events or conditions may Gause the charitable company to cease to continue as a going concern, evaluate the over311 presentation. structure and conlenl of the financi21 statements, Including the disclosures. and whether the financial statements represent the underlying transactions and events in a manner that achieves lair presentation. We communicate with those chargèd with governance regarding, among other matters. the planned scope ancl timing of the audit and significant audit findings, including any significant deficiencies in internal control that we Identify during our aLJdil. Use of our report This report is made solely lo the charitable Company's members, as a body, in accordance with Chapter 3 ol Part 16 01 the Companies Act 2006. Our audit work has been undertaken so thal we might slate to Ihe company s members those matters we are required to slate lo them In an auditor s report and for no other purpose. To the fullest exlenl permilled by law. we do not 3ccepl or assume responsibility lo any party other than the charitable cornpany and charitable company's members as a body, lor our 3udit work, lor this report, 01 for the opinions we have formed. J.A LLP Neil Finlayson ISenioT Slatulory Audilorl for and on behalf of Moore Kingston Smith LLP, Statutory Auditor Date: 3 Dember 2021 Devonshire House 60 Goswell Road London EC1M 7AD 13
St. Margaret's House Statement of Financial Activities Ilncorporating an Incotne and Expellditure Accounti For the year ended 31st March 2021 2021 Rostrictbd Total Funds Funds 2020 Total Funds Unrèstrlctad FuDds Vnrosiricied Funds R96trlc19cI Funds In¢oma from.. Note Vo uryiary Income Inveslrneni Incjme 2fj2.886 1G204 3W 493 139,442 402.328 16,20 39),493 2.597 16.948 987,730 21,513 987.730 Total Income 669,583 139,442 809.025 1.U07.275 18.916 1,026.191 Expendilur8 on.. fi2Q.824 102.895 20,046 Total 8xpenditure 620,824 102,895 723,719 20.046 1.130.405 Nel Income foi the year 41,983 36,547 78.530 Nel Movement of funds 41,983 36,S47 78,530 Funds brought forward at 151 Aprll 6,626,097 4.259 6,630,356 6,727,0£8 S,389 6,732.4S7 Funds carriFd forward al 31st March 6,668,080 40,806 6,708,886 6,626,097 4,259 6,630.356 The notes on pages 17..0 27 form ol Ihcse.iiyClsI s131èrnenis
St. Margaret's House Balance Sheet as at 31st March 2021 Note 2021 2020 Fixed assets T8ngihlp. Fixed Asse15 Inveslmenls 6 065,914 49U,961 6,065,000 547.737 10 6,556,875 6,612,737 Current Assets Debtors Cash al bank and in hand 26.006 184.093 9.630 13?,687 210,099 142,317 Creditors. 8mounts fdllino due one year 12 58,088 124,698 Net CUrnt Assets 152,011 17.619 Total Nel Assets 6,708,886 6.630.356 Unrestricted funds Reslricled Funds 13 40.806 379.248 4,259 379,248 UnreslriLtcd Dosignatee Funds UnreslriLlod Gfrnoral Fun¢$ 13 13 6,28B.832 6.246,849 6 708 886 6 630 356 These lin3nc131 staletnenls have been prepared in accordance with sper.ial sm311 companics undor Part 15 of the Companies Aci 2Q06 Thcse lin8n¢i81 sialemenls were approved by the 8oari5 01 Trustoes and for issue, on 11 Nov8mb8r 2021 and were signed on their behalf by. Fr Alan Chair Ms Mana Mahil Treasurer ,,/2QXI The noles on pages 17 10 27 form part of these lin3ncial slalemenls. Company number.. 7645599
St. Margaret's House Statement of Cashflow For the year ended 31 st March 2021 Note 2021 2020 Cash flows from operating activitie8 Cash gpnerated from opefalions 18 114.7981 177.1781 Net cash provided by operating actlvities 114,7981 177,1781 Cash flows from investing activitie5 Inveslrnenl Incorne 16,204 16,948 Investment cash withdrawal 50,000 100,000 Net cash provided by investing activities 66,204 116,948 Change in ¢ash and ca$h equivalents duiin9 the year 51,406 39,770 Cash and cash equivalen15 3t bpginning of yepr 132.687 92.917 Cash and cash equivalents at end of year 184.093 132.687 Analysis of cash and cash equivalents 2020 2019 Cash at b3nk and in hand Deposits 184.093 132.687 Total cash and cash equivalent5 184,093 132,687 Analysis of changes in net debt l April 2020 Cash Flows 31 March 2021 Cash 132.687 51.406 184,093 Loans f3lling due within one year Loans falling duc after more than one year Total 132.687 51.406 184,093
Sl. Margaret's Hovse Notes to the Financial Statements For the year ended 31st March 2021 1 Accounting Policie5 Basis of preparation Thp. financiBI slalp.mp.nl% h3wp. been prepared under the historical cosl convention and in accordanLe with Accounting and Reporting by Charities Slalemenl nf Recommended Pr3Cli¢e applicable lo charitie5 preparing Iheir accounts in accorddnce with the Financial Reporting Slanddrd applic2blo In the UK and Republic of Ireland IFRS 1021 Int,luding update bulleiin 2 Ihp Finanei81 Repnrtin9 Standard gpplicHble in Ihc UnilLd Kingdom and Republic of Ireland IFRS 1021, and ihe Charities Act 2011 Sl Margaret's Htsuse meets the Definition of 3 public benefit under FRS 102 The functional curicncy of these siaiemenls is sterling Amounts are rounded lo the ne3rest pound Going concern The Iruslees have assess*d ivhelher the use of the soing Concern Liagis Is appropr131e In preparing these fin3ncial statements and have considered possible evenis or conditions Ihai may Ldbl duubl un the abilily ol the charity lo continue a.% d g()Ing cllncern The Iru51ees have rn3de Ihe assessment for a period of al le3St one year from the date of approval of the financial slat?mcnls In particular. Ihe Trusiees have sei up d COVIO 19 Cornmillee in order lo bring Ihe Operational Aclivilies Inlu bd13nLe ovpr the next 24 monlhs which m3y require some Irbnsfer of funds from the Designated fund lo Ihp General Reserve Thc charity Ihcr?foro continues lo adopt the going ¢on¢em b?515 In prepanng It5 financi31 slalements. In¢ome All incornming resources are Included In the slalemenl of financial 3Clivilies when the charity 15 entitled lo, virtually ¢eri8in lo receive and the amount C8n be qudntified ivith reasonable accuracy. Grants are recosnised on a receivable basis where Ihertr is reasonable expecialion on eniitlp.mp.nt Investment Income is included on a rcccivable basis Rents 3nd Room Hire 3re on a receivable basis Income frorn IrAGing activities are Included when sold ExpenditurÈ All expondilure Is Includcd In the Statement of Fin3ncial Activities on an accrual basis inclusivè of irrecovL'rable VAT. Charilable aclivities Include exppndiiure 3%SOC131ed with the rnain objectives of the charity and include both direct and support C051s relating lo these aclivilies Employee Benefits The cost ol short lerm employee benefit£ are recognised a5 a liability 3nd expenses The eo%1 of unused holiday enlillernenl Is recognised In Ihc period ln which the employees seryices are re.ceived Pensions Pension costs chargeL4 lo Ihe S181omonl of Financial A¢livilies ISOFAI represent the conlnbulion pay(Iblc by the orq3nis31ion dunnq the ye3r the orqanisalion has a stakeholder sch&me The charity has no Iiabilily under the scheme Other than the payment of ¢oniribulions.
St. Margaiet's House Notes to the Financial Statements For the yeaT Ènded 31st March 2021 Icontinuedl Accountln9 Poll¢les l¢ontinuedl Taxation The Gharily is J rp.oi%lered r.hdrily Hnd Iherelure nnl Iiiiblp. lor Income or Corporalion Tax on Income derived from lis chariiable aclivilies Th& Charity is regisiered for Corpuralion Tax duè on aclvily of th(: Community Cafè Operating Leases Rentals payable under operalir)g leases. where substantially all Ihe risks 2nd rèwards of ownership rem31n Wlth Ihp. Ips50r, are ch3rged lo the slalctnenl of fin3ncial activities In the year In which they fall Fixed Assets Freehold properties are slated 3t cost ane not depreciated The members are ol the opinion Ih31 the residual value ol the building is in exce85 of the carry value ol Ihis asset and therèfore depreciation is nol appropriate Impairment reviekvs arÈ Larrièd oul on an annL2al basis on 3ssels whose useful economic lives are expected to pxceed So years In aco.ordance wilh Financial Reportinq Sland8rd 1 Other Fixed assets over £1.500 are capitalised and written off In the yeai. Other fixed assets are 518ted dl Lost less 8LLumuldloL4 dLpfLLldlion Depreciation 15 calculated lo write off 35se15 ove. their useful lives FIKtures & fittings - 4 years Office EqJipmen; 2 ye3rs Investments Inveslmenls 3re 5hoivn al Iheii market value. Reali5ed and unrealised gains are deall with in the SILltement of Financial Aciivilies Cash and cash equivalents Cash ane. tt.2sh er,uivalenl% inc.lude ¢.a.%h In hand, deposits held 31 call with bavkf, other hort term liquid inveglmenls with original m31urilies of Ihree months or less, and bank overdralls Bank overdralis are shown within borrowings In current Iiabililies Debtors Debtors are recognised initially at fair value. A provision for Impairm&nl of liradp dehlllrs Is pfildbl %hp.d Iwhere thcrc Is obiecli'ie evidence th31 the charity will not bc able lo collect all amounts due Any losses arising fr(>m ImpdifmLinl will be reco5niscd In the SOFA. Credltors Short lerm creditors 3re me35ured al the Iransaclion pricc and 3re recognised ivhere Ihere Is a present obligation re%ulling from a past event th81 will prol)dbly refiull In the Irdnsfpr of funds lo a third p3rty Financial instruments Fi?anci81 In8lrumen15 Rre recosnisee In the company s b3lance sheet when Ihc company becomes party lo the conlractual provisions of the Inslrumeni Financial assets and Iiabililies are olfsel. with Ihp nèl 3mounls prÈseni?d in Ihe lin3n¢ial slèiemenls, vhpn Ihere 1£ 3 leg311y pnforce3ble right to sel off the reLocJnised 3riiouTrlg and Iherc Is InlL'nlion lo sellle on a nct bas)s or to realise Ihc asset and selllc the liability simuiianeously.
Si. Margaret's House Notes to the Financial Statements For the yÈar endÈd 31 st March 2021 Icontinuedl Accounting Policies Icontinuedl Financial Instruments Icontinuedl Basic financial assets Basir. financial assets. which InLlude Irade ane Other debtors and c3£h 3nd b3nk balances. are initially measured 81 Iran$3clion priLc Including transaction costs and are subsequently c3rriÉd 21 arni)rt1.4cd cost using tho effeclive inleresl melhud unless Ihe 3rrangemenl conslilules a financing transaction. where the transBCtion Is measured al the present value of the future receipts disLounled al a market Basic financial liabilities Basic financial Iiabililies, inr.luding trade and other creditors. bdnk loans, loans from fellow £roup companie5 ano preference shares th21 are classifiLd (lo.bl. are Initially recognised al transaction price unlèss the difdngEmenl conslilules a fin3ncing Irbnsaclion, Ivhere the debt Instrument Is measured at the pre5e.nt value of the lulure payments disuounled ai a mgrkel rate of Inierebl. Tr8dc crcditor5 are obligations to pay for goods or seNices Ihal have béon acquired In th? ordinary course of business from suppliera Accounis payable are c.'35sifiod as currcnl liabilities If payrnenl is due wilhin one year nr le55. If not. they are presenicd as non-currenl liabilities Tracle rrp.dilors are recognised initially 81 Iransaciion price and subsequo.nlly mc(Isured 31 amortised cost using the effective Inlerèsl rneihud Funds Reslricled Fund5 Bre 5ubiecl lo donor imposed condilions Unr&slricted funds are avdildble for use at the discretion ol the Truslees In furtherance of Ihe general objective8 of the ch3rilv Designated Funds aro r•%o.Nos for a particular purpose wilh expectation5 that these will be tran%forre4 lo general reserves lo match relevant expenditure In Iho inLomL and expen(Jilure ac¢ounl Judgements and key sources of Èstimation vncertainty In pr&paring fin3nc131 qlatetnenls Il Is necessary lo mak? ceriain iudgÈm&nls, elimate5 and assumptions Ih81 glfe¢l the amvunlb reEognised In Ihe financial slatcments. The truslees considtrr that only fjignificanl judgement and estimales used relates lo Ihe valudlivn of the freehold property An Indepèndent p)rule.%siundl valuation look p13ce al the Llale of Ir¢)nsilion lo FRS 1 Os and the deemed C051 model has been adopted The Iruslc?s consider Ihis valuation remains apprnpr131e based on available mafkel data and the annudl irnPdirrTrenl review.
St. Margaret's House Notes to the Financlal Statements For the y•ar ended 31st March 2021 Icontinuedl 2 Voluntary Income 2021 2020 Donations Donations- Reslricled Govemment CJRS Grant Incowe Grants- Unreslrieled Grants- Restricted 632 1,500 243,754 18,500 137,942 1.097 1.500 18.916 402,328 21,513 3 Investment Income 2021 2020 Inveslment Income Iunreslrictedl Investment Income (Reslrictedl 16,204 16,948 16,204 16.948 4 In¢omTning Resources from ChaTltable A¢tivitie$ 2021 2020 Community Calé RerTrls Room Hire Charity Shop Arts&Wellbeing Fees Other IncomelFees 48,120 326,932 1,723 7,288 1,537 4.893 506,609 345,344 18.467 54.328 3,092 390,493 987,730 All of the £390.493 15 attribulable to Unrestricted Funds 20
St. Margaret's House Notes to the Financial Statements For the year ended 31st March 2021 Icontinuedl 5 Analysi5 of Expenditure on charilablg activities year endod 31 March 2021 2021 2020 Comrnunity Cotnmunity Cafè Art$& Barn Wellbeing Project Shop Govgrnance Total Total Direil Costs Staff Related Co%ls Off1cp Costs Preiyiises Costs Central Services 1.036 51,020 46.112 3,884 1.050 63,J42 .5.607 8.963 1.995 3,ono 400 202 93.472 119.571 464,220 17,572 86.553 22.674 12,215 914 263,628 647.438 21.875 122.923 16.6.17 10.360 232.101 2.150 1.379 8.118 3.000 13.636 10.482 16.225 4.315 1,500 Deprcciaiio Total Exponditure 2021 271.929 130.411 56.255 249.98B 15.136 72J.719 1,130,405 Total Expenditure 2020 557,741 158,775 69.886 273,122 57.643 13,238 1,130,4D5 Of the lolal expenlilure £723,719 analysed above12020. £1 130,4051, affloufits lolalling £102.895 were 811ribuiablÈ lo Testricled funds 12020 £20,046). Comparativc Information.. Analysis of Expenditure r>ll charitable activities year ended 31 March 2020 2020 Community CgrnTnunity Caf& Shop Art5 and arn Wollbein9 Project Governan¢e Total Direct Costs SlJll Related Costs Offio.e Cost Prcm15es Costs Ceniral SÈrvice8 Audit Fees 192,903 338,418 6,539 11,223 6,658 4,000 4,566 52.715 56.522 39 7,437 832 5DO 64.893 177,723 5.766 19.060 3,3JO 1,27.E 10,823 263.628 647.438 23.875 122,923 16.647 10.350 13.238 85.20? 5.826 3.500 Building Project Fees 45,545 5ST,741 1J8,7TJ 69.800 ZTJ.IZZ ST.fj4J 13,2JB 1,130,4Q5 6 NÈI incommin9 Resourc95 for the Year 2021 2020 Staff PEnSlDn contributions 10.043 914 14.957 Cost of Stock Audil Fees 20121 Audit Fe&5 19120 187.513 10.350 10,715 1.500
St. Margaret's House Not¢$ to tho Flnanclal Statements For the year ended 31st March 2021 Icontlnuedl 7 Staff costs 2021 2020 Wages and Salaries Social Security Costs Pension Costs Other S18ff Costs 414,214 30,379 11,325 8,274 568.597 43,789 14.957 20.096 464,192 647.438 Aver3ge number in the Year 22 28 No employee eained In excess of £60,000 in the year The key management personnel comprise the Iruslees and certain departtnenl tn3nagers Total Remuneration £ 143,25212020 144.7531 Including pension contributions of £3,99212020 £4.2901 was Piiid lo key management personnel 8 Taxation The charitable comp3ny h35 3 liability lo Corporation tax on Ils ¢haril8ble trading activities The tax chargLI C8n be analysesd a5 follows 2021 2020 Current Taxalion Adiustmenis In repecl of prior year Deferred IAXdlion 22
St. Margaret's House Notes to the Financial Statements For the year ended 31st March 2021 Icontinuedl 9 Tangible Fixed Assets Freehold Land & Buildings Fixtures & Equipment Fittings Total Cost Al I st April 2020 Addittions 6,065,000 6,588 12,226 1,828 6.083,814 1,828 At 31 st March 2021 6,065.000 6,588 14,054 6,085,642 Depreciation Al 1 sl April 2020 DepCiatIon 6.588 12,226 914 18,814 914 At 31 st March 2021 6.588 13,140 19,728 Net Book Value At 31 March 2021 6.065,000 914 6,065,914 Al 31 March 2020 6,065.000 6,065.000 A professional valuation of the freehold land and buildings. prepared by Farebrolher Chartered Surveyors was obtained as at 1 April 2014 valuing the property portfolio al a value in use 01 £6,065,000 vihich was considered lo be D&emed cosl upon applicable ol FRS102 accounling framework for periods commencing In the opinion of the Trustee5 the market value at 31 sl March 2021 Is not tnatenally different and there has been no evidence ol impairment. 10 Investments 2021 2020 Opening Market Value as at 1 April Withdrawals Nel Ilossl I gains on revaluation 547.737 150.0001 16.7761 645,624 1100,0001 2.113 Market Value as at 31s March 490,961 547.737 Cost a5 at 31 March 550,000 550,000 Fixed interest fund Cash for further investment 490.961 497.737 50,000 547,737 490,961 23
St. Margaret's House Notes to the Financial Statement5 For the year ended 31st March 2021 Icontlnuedl 11 Dgblors 2021 2020 Government CJRS Grant debtor Trade Debtors Other DebtorslPrepayments VAT receivable 16.868 650 2.430 7.200 1,456 9,630 12 Creditors '. amounts falling due wlthln one year 2021 2020 Trade creditors Othor Gfodilorè Taxation and social security costs Accru8ls Deferred income 5.716 20,001 29,507 46,784 22,60 0.231 11,247 37,610 58,088 124,698 24
St. Margaret's House Notes to the Financial Statements For the year endèd 31st March 2021 Icontinuedl 13 Reconciliation and analysis of movement on funds for the year Balance blf 1st April 2020 Income Expenditure Gains I IIos5esl Transfeis Balance clf 31st March 2021 Unrestriced Funds 6,246,849 379,248 669,583 1620.8241 16,7761 6.288.832 379.248 Designated Funds Reslricled Funds 4,25g 139,442 1102,8951 40.806 Total Funds 6,630,356 809,025 1723,7191 16,7761 6,708,8B6 Restricted Funds BBC Children in Need 4.259 8,810 22,600 19,6341 112.1201 122.1301 118.1651 12,2581 116,1051 11,8701 19.1771 111,4361 3.435 10,480 Heritage Arts Council England City Bridge Trust Post Code Lottery City ol London BBC Ghildren in Need 22,130 27,255 9.995 9.090 7.737 16.105 1.870 Covid Response Foyle Foundation Individual Donor (Anonl 9.177 20.000 8,564 1,50D 1.500 Total Restricted Funds 4,259 139.442 1102,8951 40,806 Unrestricled funds include £6.77612020 £2.1131 relating lo uniealised gainsll losses) Dn investments Desi9nated Funds Sl Margaret's House had designated amounts tolalling £514K in preceding years towards the costs ol building ol an Arts and Wellbeing Cenlie. which Is eslimaled lo cost ciica £3M. Planning permission for the building project has been granled bul further work has been PLJI on hold dLJe to the COVID-19 pandemic outbreak in M8rch 2020. Amounts expended during the year 19120 is reflective ol prol&ssional fees and s13ff time costs Spent on project during the period. The Iruslees are Considering a polenlial full or partial release of the designated fund balance 01 £379k du11ng 20121 In light of the COVID-19 pandemic In order to ease pressure on cash flow and Ljnrestricted reseNes caused by the ieduction In activities as a resull of UK government lockdown lor majority of the year 20121. Restricted Funds Invesco fund represents qranl lundinq for the qeneral use of the Cotntnunily Shop. London Borough of Tower Hamlets fund represents funds for children's show and workshops Tower Hamlets Homes fund Is for Community Showcase project with local estate Including workshops and performance Big Loltery fund Is lor bvoodwork skill sessions for isolated men. BBC Children In Needs fund is in support Comedy Workshops for young people. 25
St. Margaret'5 House Notes to the Financial Statements For the year ended 31st March 2021 Icontinuedl 13 Comparatlve information.. Analysis of movement in Funds for year ended 31st March 2020 Balance blf Income Expenditure Gains I Transfers Balance clf Unreslriced Funds Designated Funds Reslri¢lèd Funds 6,290.177 1.007.275 436.891 5.389 11.052.716) 157 6431 120,0461 2.113 6.246.849 379.248 4.259 18.916 Total Funds 6.732.457 1,026,191 11,130,405) 2,113 6.630,356 Restricted Funds Invesco I Shopl LB Tower Hamlels Horne LB Tower Hanile15 Big Lottery BBC Children In Need 1.166 4.223 14,2231 17981 18,8921 14,9671 798 8.892 9.226 4.259 Total Restricted Funds 5,389 18.916 120,0461 4.259 14 Analysis of total net assets befvleen funds 2021 Total Funds Unrestricted R8Stricted Fund5 Fund5 Fixed Asset5 Current Assels Current Liabilities 6,556,875 169,293 158,0881 6.556,875 210,099 158,0881 40.806 6,668,080 40,806 6,708,886 2020 Total Funds Unrestricted Restricted Funds Funds Fixed Asse15 Current Assets 6.612,737 6.612,737 115,458 26,859 142,317 1102,0981 122.6001 1124.6981 6,626.097 4,259 6,630,356 15 Related party transactions The Chief executive occupies one of the charity's properties. 19 old Ford Road. in the capacity ol caretaker and pays a peppercorn renl of £1 783 pei annum 12020 £1,783 per annuml The following trustees a150 represent charities that hold a Iicence agreement with Sl Margarets House.. Shatnimaia Choudry- 8engali Parents & Carers Associalion £30,59612020 £43,900) All rents are charged al an arms length basis and there are no amounls clue at the year end 26
St. Margaret's House Notes to the Financial Statements For the year ended 31 st March 2021 Icontinuedl 16 Company Limited by guarantee The company is limited by guarantee and does not have a share c3pilal. In the event of the company being wound up the maximum amount which each membei 15 liable to contribute is one POLJnd. At 31 March 2020 there were 5 Memb&rs. 17 Opgrating Leases 2021 2020 Office Equipment Less than 1 ye3r Within 1-5 years 7,624 17,757 T,624 24,480 25,381 32,104 18 Cash used in operating actlvltles 2021 2020 Net wnovement in funds 78,530 1102,1011 Add back depreciation Add b3¢k Ideducll rèvaluation lossllg31nl Deducl interest income shown Investing activitie5 Ilncreasel In debtors IDecreasel,I Increase in creditors 914 6.776 116.2041 118.2041 166.6101 12.1131 116.9481 14.7181 48,702 114,7981 177,1781 27