ANNUAL
REPORT
ST.
MARGARErs
HOUSE
2023
*<

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|Contents||||
|---|---|---|---|
||||Pages|
|Reference and Administrative||Details||
|Trustees Report|||2-13|
|Independent<br>Auditors|Report||14 - 16|
|Statement of Financial|Activities||17|
|Balance Sheet|||18|
|Statement of Cashfiows|||19|
|Notes to the financial|statements||20- 29|





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Independent Auditors Report To The Members of St. Margaret's House (continued)
Assessing the extent of compliance with the laws and regulations considered to have a direct material effect
on the financial statements or the operations of the company through enquTry and inspection-
Rev?ewing firbancial statement disclosures and testing to supporting documentatTon to a55e55 compliance with
applicable law5 and regulations;
Performing audit work over the risk of management blas and override of controls, including testing of journal
entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions
outside the normal course of business and reviewing accounting estimates for indicators of potential bias.
Because of the inherent ITmitations of an audit, there is a risk that we will not detect all irregularities. including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statements. as we will be less likely to become aware of instances of non.compliance. The risk is
also greater regarding irregularities (Kcurring due to fraud rather than error, as fraud involves intentional
concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council'5 web51te at:
https:Ilwww.frc.org.uklOur-Work/AuditlAudit-and-assurancelStandards-and.guidancelStandards.and.guidance.
for-auditorslAuditors.responsibilities.for.auditlDescription-of-auditors-responsibilities-for-audit.aspx.
This description forms part of our auditor'5 report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16
of the Companies Act 2006. Our audit work ha5 been undertaken so that we might state to the charitable companys
members those matters we are required to State to them in an auditoi's report and for no other purpose. To the
fullest extent permitted by law, we do not accept or a55ume responsibility to anyone other tharb the charitable
company and the charitable company's members as a body, for our audit work, for thi5 report, or for the opinions
we have formed.
,.13& ALTr
J Howard FCA (Senior Statutory Auditor)
for and on behalf of Azets Audit ServTces
Statutory Auditor
2nd Floor Regis House
45 King William Street
London
EC4R 9AN
Date: i(0 Oc*olLr >ui3

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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||E|E|
||||||Note|||
|Fixed Assets||||||||
|Tangible fixed assets|||||9|6,068,713|6,068,533|
|Investments|||||10|491,272|456,022|
|||||||6,559,985|6,524,455|
|Current<br>Assets||||||||
|Debtors||||||44,105|9,064|
|Cash at bank||and in||hand||199,570|265,533|
|||||||243,675|274,597|
|Creditors:|amounts||falling due within||12|(77,685)|(83,163)|
|one year||||||||
|Net Current||Assets||||165,990|191,433|
|Total Net Assets||||||6,725,975|6,715,988|
|Funds:||||||||
|Restricted|Funds||||13|46,488|56,480|
|Designated|Funds||||13|319,230|378,064|
|Unrestricted||General||Funds|13|6,360,257|6,281,444|
|||||||6,725,975|6,715,988|





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|or the year|end|ed 31|st March 20|23|23||||
|---|---|---|---|---|---|---|---|---|
||||Year ended|31"March 2023||Year ended|31"March 2022||
||||Unrestricted|Restricted|Total|Unrestricted|Restricted|Total|
||||Funds|Funds|Funds|Funds|Funds|Funds|
|||Note|E|E|E|E|E|E|
|Income from:|||||||||
|Donations<br>and|||32,882|107,094|139,976|36,214|229,005|265,219|
|legacies|||||||||
|Investment<br>income|||8,795||8,795|13,116||13,116|
|Charitable<br>activities|||888,057||888,057|745,792||745,792|
|Total income|||929,734|107,094|1,036,828|795,122|229,005|1,024,127|
|Expenditure<br>on:|||||||||
|Charitable<br>activities|||879,004|120,523|999,527|762,567|219,519|982,086|
|Raising funds|||5,884||5,884||||
|Total expenditure|||884,888|120,523|1,005,411|762,567|219,519|982,086|
|Gain/(Loss)<br>on||10|(21,430)||(21,430)|(34,939)||(34,939)|
|investments|||||||||
|Net income /|||23,416|(13,429)|9,987|(2,384)|9,486|7,102|
|(expenditure)|||||||||
|Transfer of funds||13|(3,437)|3,437||(6,188)|6,188||
|Net movement|in||19,979|(9,992)|9,987|(8,572)|15,674|7,102|
|funds|||||||||
|Reconciliation|of||||||||
|funds:|||||||||
|Totalfunds<br>brought||13|6,659,508|56,480|6,715,988|6,668,080|40,806|6,708,886|
|forward|||||||||
|Total funds carried||13|6,679,487|46,488|6,725,975|6,659,508|56,480|6,715,988|
|forward|||||||||





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||||||||2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||E|E|
|||||||Note|||
|Cash flows from operating|||activities||||||
|Cash generated<br>from operations||||||18|(9,276)|73,624|
|Net cash provided|by operating|||activities|||(9,276)|73,624|
|Cash flows from investing|||activities||||||
|Purchase of property,<br>piant|||and|equipment|||(2,920)|(5,300)|
|Investment<br>income|received||||||7,771|13,116|
|Withdrawals<br>from investments|||||||438,462||
|Invested<br>in the year|||||||(500,000)||
|Net cash provided|by investing|||activities|||(56,687)|7,816|
|Change in cash and|cash equivalents||||||(65,963)|81,440|
|during the year|||||||||
|Cash and cash equivalents||at the||beginning|||265,533|184,093|
|of the year|||||||||
|Cash and cash equivalents|||at the end||of||199,570|265,533|
|the year|||||||||
||||||1 April|2022|Cash Flows|31 March 2023|
||||||E||E|E|
|Cash|||||265,533||(65,963)|199,570|
|Total|||||265,533||(65,963)|199,570|





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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||||E|E|
||Grants|- Restricted||||107,094|229,005|
||Grants|- Unrestricted||||30,000||
||Donations|||||2,882|1,198|
||HMRC|—Job||Retention|Scheme||35,016|
|||||||139,976|265,219|
|3.|Investment||income|||||
|||||||2023|2022|
|||||||E|E|
||Investment|||income||8,795|13,116|
|||||||8,795|13,116|





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|ncome from|Char|itable|Activities||||||
|---|---|---|---|---|---|---|---|---|
|||||||2023||2022|
|||||||E||E|
|Community|Cafe|||||377,119||289,465|
|Rents||||||394,379||358,833|
|Room Hire||||||49,057||12,160|
|Charity Shop||||||37,631||38,113|
|Arts<br>Et Welibeing||Fees||||18,722||14,911|
|Contribution|to Maintenance|||||||15,681|
|Other Income/Recharges||||||11,149||16,629|
|||||||888,057||745,792|
|nalysis of Expenditure|||on Charitable|Activities|||||
||||Community|Premises|Shop|Arts and|Barn||
||||Cafe|Facilities||Wellbeing|Project|2023|
||||E|E||E|E|E|
|Direct costs|||182,355||2,837|123,946||309,138|
|Staff reiated|costs||219,109|60,139|33,474|162,171||474,893|
|Office costs|||4,055|8,701|572|6,627||19,955|
|Support Costs:|||||||||
|Staff related|costs||3,604|989|550|2,666||7,809|
|Premises costs||||129,204|5,857|22,939||158,000|
|Central services|||1,546|1,546|386|4,331||7,809|
|Marketing<br>/|AR||1,099|440|220|2,637||4,396|
|Audit<br>/ Tax|fees||2,582|3,228|646|6,456||12,912|
|Depreciation|||973|1,767||||2,740|
|Buiiding project<br>fees|||||||1,875|1,875|
|Total Expenditure<br>2023|||415,323|206,014|44,542|331,773|1,875|999,527|



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|mparative<br>Informati|on:<br>Analysis o|f Expenditure<br>|on Charitab|le<br>Activities|||
|---|---|---|---|---|---|---|
||Community|Premises|Shop|Arts and|Barn||
||Cafe|Facilities||Wellbeing|Project|2022|
||E|E|E|E|f.|E|
|Direct costs|135,281||2,248|204,901||342,430|
|Staff related costs|222,160|39,404|38,831|133,665||434,060|
|Premises costs|786|124,945|5,644|17,918||149,293|
|Support Costs:|||||||
|Staff related costs|1,842|2,103|1,486|2,509||7,940|
|Office costs|779|1,558|779|12,666||15,782|
|Central services|1,921|2,187|384|4,257||8,749|
|Marketing<br>/ AR|916|733|366|1,649||3,664|
|Audit<br>/ Tax fees|4,789|4,839|939|5,737||16,303|
|Depreciation|112|1,969|55|545||2,681|
|Building project<br>fees|||||1,184|1,184|
|Total Expenditure<br>2022|368,586|177,736|50,927|384,282|1,184|982,086|





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|.|Net income / (expenditure|Net income / (expenditure|)<br>fo|r the year||||
|---|---|---|---|---|---|---|---|
||Isstated after charging:|||||2023|2022|
|||||||E|E|
||Depreciation|||||2,740|8,550|
||Cost of stock|||||182,355|135,281|
||Auditors<br>remuneration:|||||||
||Audit Fees - current|year||||11,500|12,782|
||Audit Fees - prior year under|||/ (over) accrual|||756|
||Non Audit Services|—current year||||750|2,765|
|7.|Staff Costs|||||||
|||||||2023|2022|
|||||||E|E|
||Wages and Salaries|||||432,159|401,746|
||Social Security Costs|||||34,164|28,718|
||Pension Costs|||||11,146|8,550|
||Other Staff Costs|||||5,233|2,986|
|||||||482,702|442,000|
||Staff costs above|have|been|allocated|to|2023|2022|
||charitable<br>expenditure||as shown below:|||E|E|
||Charitable<br>activities|||||474,893|434,060|
||Support costs|||||7,7809|7,940|
||Staff Numbers|||||2023|2022|
||Average<br>number<br>of|employees||||20|19|



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|he tax charge can be anaiysed<br>as follows:|||
|---|---|---|
||2023|2022|
||E|E|
|Current Taxation|||
|Adjustments<br>in respect of prior year|||
|Deferred taxation|||





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|angible Fixe|d Assets||||||
|---|---|---|---|---|---|---|
|||Freehold|Land||Fixtures a||
|||a Buildings||Equipment|Fittings|Total|
|||E||E|E.|E|
|Cost|||||||
|As at 1 Aprii|2022|6,065,000||14,054|11,888|6,090,942|
|Additions|||||2,920|2,920|
|As at 31 March 2023||6,065,000||14,054|14,808|6,093,862|
|Depreciation|||||||
|As at 1 April|2022|||14,054|8,355|22,409|
|Depreciation|charge||||2,740|2,740|
|As at 31 March 2023||||14,054|11,095|25,149|
|Net Book Value|||||||
|As at 31 March 2023||6,065,000|||3,713|6,068,713|
|As at 31 March 2022||e,oes,|ooo||914|6,065,914|



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|been no evi<br>10. Investments|dence of any impa|irment.|||||
|---|---|---|---|---|---|---|
||||||2023|2022|
||||||E|E|
|Market value of investments||at I Aprii 2022|||456,022|490,961|
|Acquisitions|at cost||||530,642||
|Disposals at market value|||||(485,772)||
|Change<br>in|market value in the year||||(21,430)|(34,939)|
|Market value of investments||at 31 March|2023||479,462|456,022|
|Cash<br>held|by<br>investment|managers|for|re-|11,810||
|investment|||||||
|Balance at|31 March 2023||||491,272|456,022|
|Historical|Cost||||500,000|550,000|
|Investments|comprise the following:||||||
|Equities (Listed)|||||479,462||
|Fixed interest<br>fund||||||456,022|
|11.Debtors|||||||
||||||2023|2022|
||||||E|E|
|Trade debtors|||||1,790|3,224|
|Other debtors/prepayments|||||42,315|5,840|
||||||44,105|9,064|





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|||||||2023||2022||
|---|---|---|---|---|---|---|---|---|---|
|||||||E||E||
|Trade creditors||||||1,270||3,153||
|Other creditors||||||6,084||7,978||
|Taxation<br>/|social security costs|||||25,604||8,357||
|Accruais||||||44,727||63,675||
|||||||77,685||83,163||
|13.Reconciliation<br>and||analysis of movement||on funds for the year||||||
||||Balance at 1"|||Gains /||Balance at 31"||
||||April 2022|Income|Expenditure|(losses)|Transfer|March|2023|
||||E|E|E|f.|s||E|
||||||||E|||
|Unrestricted|Funds||6,281,444|929,734|(883,011)|(21,430)|53,522|6,360,259||
|Designated|Funds||378,064||(1,875)||(56,959)|319,230||
|Restricted|Funds||56,480|107,094|(120,523)||3,437|46,488||
|Total Funds|||6,715,988|1,036,828|(1,005,411)|(21,430)||6,725,975||
|Restricted|Funds|||||||||
|BBC<br>Children||in|3,502|250|(5,711)||1,959|||
|Need||||||||||
|City Bridge|Trust||7,603|37,664|(38,031)|||7,236||
|Sports|Council||9,980||(9,980)|||||
|(Return to|Play)|||||||||
|GLA<br>Culture<br>Team|||2,520||(3,467)||947|||
|(Research)||||||||||
|Lottery<br>(Place<br>Like|||3,574||(4,085)||511|||
|Home)||||||||||
|Heritage<br>{Mendoza)|||29,301||(29,301)|||||
|Climate Coalition||||3,094|{3,114)||20|||
|Post<br>Code|Society|||9,810|(8,222)|||1,588||
|Trust||||||||||
|Social Prescribing||||9,760|(5,747)|||4,013||
|Sport England<br>(Make||||7,300|(3,500)|||3,800||
|Time)||||||||||
|Creative<br>Futures||||15,000||||15,000||
|London Marathon||||20,000|(5,149)|||14,851||
|Clarion|(Warm|||4,216|(4,216)|||||
|Spaces)||||||||||
|Total<br>Restricted|||56,480|107,094|(120,523)||3,437|46,488||
|Funds||||||||||





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|omparative||informati|on:<br>Analysis of|movement<br>in|funds for the|year ended|31 March 202|2|
|---|---|---|---|---|---|---|---|---|
||||Balance at 1*'|||Gains I||Baiance at 31"|
||||April 2021|Income|Expenditure|(losses)|Transfers|March 2022|
||||E|E|E|E|E|E|
|Unrestricted||Funds|6,288,832|795,122|(761,383)|(34,939)|(6,188)|6,281,444|
|Designated||Funds|379,248||(1,184)|||378,064|
|Restricted|Funds||40,806|229,005|(219,519)||6,188|56,480|
|Total Funds|||6,708,886|1,024,127|(982,086)|(34,939)||6,715,988|
|Restricted||Funds|||||||
|BBC<br>Children<br>in|||3,435|8,830|(8,763)|||3,502|
|Need|||||||||
|Heritage|||10,480|22,535|(33,015)||||
|City Bridge||Trust|9,090|34,870|(36,357)|||7,603|
|Post Code Lottery|||7,737||(7,737)||||
|Arts Council||(Health||47,343|(47,343)||||
|Tree)|||||||||
|Arts||Council||30,535|(33,804)||3,269||
|(Culture<br>Recovery)|||||||||
|Arts<br>Council<br>(The||||14,187|(14,187)||||
|Borrowers)|||||||||
|Foyle Foundation|||8,564||(8,564)||||
|Sports||Council||9,980||||9,980|
|(Return to|Play)||||||||
|GLA<br>Culture<br>Team||||27,420|(24,900)|||2,520|
|(Research)|||||||||
|Lottery<br>(Place<br>Like||||4,004|(430)|||3,574|
|Home)|||||||||
|Hertitage||||29,301||||29,301|
|(Mendoca)|||||||||
|Individual||Donor|1,500||(4,419)||2,919||
|(Anon)|||||||||
|Total<br>Restricted|||40,806|229,005|(219,519)||6,188|56,480|
|Funds|||||||||





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|nalysis|of total net assets|between<br>funds||||
|---|---|---|---|---|---|
||||||Total Funds at 31|
|||Unrestricted<br>funds|Restricted|funds|March 2023|
|||E|E||E|
|Fixed Assets||6,559,985|||6,559,985|
|Current|Assets|197,187|46,488||243,675|
|Current|Liabilities|(77,685)|||(77,685)|
|||6,679,487|46,488||6,725,975|
||||||Total Funds at 31|
|||Unrestricted<br>funds|Restricted|funds|March 2022|
|||f.|E||E|
|Fixed Assets||6,524,555|||6,524,555|
|Current|Assets|218,117|56,480||274,597|
|Current|Liabilities|(83,163)|||(83,163)|
|||6,659,508|56,480||6,715,988|



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|17.|Operating<br>Leases|||||||
|---|---|---|---|---|---|---|---|
||||||2023||2022|
||Office Equipment||||E||E|
||Less than<br>1 year||||12,686||7,624|
||Within 1-5years||||1,249||10,001|
||||||13,935||17,625|
|18.|Cash used in operating|activities||||||
|||||||2023|2022|
|||||||E|E|
||Net movement<br>in funds|||||9,987|7,102|
||Add back depreciation|||||2,740|2,681|
||Add back revaluation|loss||||21,430|34,939|
||Add Investment<br>manager fees Inc(uded||within|investments||5,879||
||Less Interest received|||||(8,795)|(13,116)|
||(Increase)<br>/ Decrease|in debtors||||(35,041)|16,942|
||(Decrease)<br>/ Increase|in creditors||||(5,476)|25,075|
|||||||(9,276)|73,624|