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2023-12-31-accounts

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

Company number: 07458912 Charity Registration Number: 1148931

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

CONTENTS Page
Company Information 2
Report of Directors 3
Independent Examiners Report 10
Income & Expenditure Account 11
Balance Sheet 13
Notes to the accounts 14

1

THE BOILER HOUSE COMMUNITY SPACE

(A COMPANY LIMITED BY GUARANTEE)

Report of the Board of Directors/Trustees

The board of Directors/Trustees presents their report and financial statements for the year ended 31 December 2023

Reference and administrative information

Company name The Boiler House Community Space
Company registration number 07458912
Charity Registration number 1148931
Directors Abigail Gilbert
Eleanor Faith Wright
Lucy Wood (resigned 07/03/23)
Michelle Baker (resigned 28/09/24)
Margaret Greer (appointed 30/07/24)
Trustees Abigail Gilbert
Eleanor Faith Wright
Lucy Wood (resigned 07/03/23)
Michelle Baker (resigned 28/09/24)
Margaret Greer (appointed 30/07/24)
Registered office The Boiler House George Downing Estate
Cazenove Road
Stoke Newington
London N16 6BE
Accountants Lewis Curtis Ltd
Chartered Accountants
10 Durham Avenue
Romford
RM2 6JS
Bankers The Co-Operative Bank
PO Box 250
Skelmersdale
WN8 6WT

2

THE BOILER HOUSE COMMUNITY SPACE

(A COMPANY LIMITED BY GUARANTEE)

Report of the Board of Directors/Trustees (continued)

Objects

  1. To promote the benefit of the inhabitants of Stoke Newington, Stamford Hill, Hackney and the surrounding community without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions, by associating together the said inhabitants and the statutory authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants;

  2. To establish, or secure the establishment of, a community centre and to maintain and manage the same (whether alone or in co-operation with any statutory authority or other person or body) in furtherance of the objects;

  3. To promote such other charitable purposes as may from time to time be determined. The charity shall be nonparty in politics and non-sectarian in religion. The area of benefit ("area of benefit") shall be Stoke Newington, Stamford Hill, Hackney and the neighbourhood together defined by the community users.

Ensuring our work delivers our aims

Boiler House Spaces is a Hackney community charity. Local communities in Hackney face some of the UK’s highest levels of multiple deprivation including food poverty, mental and physical health inequalities, poor housing and acute gaps in essential services. And yet this diverse community is rich in talent often hidden or held back. Boiler House Spaces, set up by two local women, is about local people helping each other in tough times.

Our charity works alongside the community in three main ways:

All our work aims to enable people to connect with others in their community and make key improvements in their own lives with support where needed

The charity needs to secure new funding to sustain its work and reach more local people.

Highlights of the year: January to December 2023

Boiler House Spaces managed four community centres within estates in Hackney:

We continued to offer opportunities for people to build relationships through activities and shared ‘common ground’, improving community cohesion and support at grass roots level

We continued to run and develop:

The Good Place community pantry – helping local people facing food poverty, living with social isolation and experiencing barriers to accessing health, well-being and other essential community services.

Our Good Place pantry offers free food and other household essentials, as well as a space to meet others and get help accessing key services. Open to all local people who need the pantry, community members can benefit from:

3

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

Partnerships - local organisations, companies and individuals who donate money, food, or skills to help give  something back to the local community

The Good Place pantry was located at Northwold Community Centre during 2023 and re-located in early 2024 to the Boiler House Community Space on George Downing Estate

The Castle View Nursery & community space – supporting youngsters to develop, learn and have happy active days with caring support and nourishing meals, all adapted to their individual needs.

At our Myddleton Grange community centre in northwest Hackney, we run an affordable nursery for local families and also have a space for Friday and weekend hire.

The nursery offers:

Local residents use our community garden free of charge to come together for the opportunity to grow plants and vegetables. Plus the community centre is hired out at affordable rates for local families e.g. for children’s parties.

The Hackney Family Centre (HFC) Baby Bank , located at High Hill Community Hall on Harington Hill is a partnership including Boiler House Spaces, the baby bank Little Village, Sal’s Shoes, Fusion21 Foundation and many local volunteers and supporters. The Centre has played a crucial role in supporting hundreds of local families since its launch in 2022, providing essential toys and equipment to babies and young children. Many of the preloved items passed on to children had been donated by other local families.

The HFC took the difficult decision and closed its doors in early 2024, due largely to the challenging external climate for Boiler House Spaces. Despite the Centre’s closure, Little Village will continue to support families in Hackney via the direct deliveries of items from its other London hubs and from Sals Shoes.

Northwold Community Centre – Good Place Pantry, Youth & community activities:

As well as the Good Place pantry (see above) we continued to develop and find ways to run a regular youth service from the Northwold Estate for 7-23 year olds, including volunteering opportunities for older young people and safe, supportive environment from the centre.

We ran the Youth service 3 days per week delivering around 132 sessions for young people, providing a safe space and offering a weekly hot meal as well as activities.

Our youth team led by the Head of Projects & Engagement ran activities and support sessions designed to provide opportunities for young people to develop confidence, enhance wellbeing and skills including voice and leadership.

The work culminated in a ‘show and tell’ performance evening in December 2023 where young people presented their experiences through music, spoken word, cake decorating, art and wall-displays including beautiful masks painted as a means of expressing what feelings might be hidden behind the young people’s lives. A tangible demonstration of the outcomes achieved:

4

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

The Youth team are local reflecting the neighbourhood’s diversity, role modelling leadership, organising, facilitating/caring engagement and professional work.

Weekly outings/activities were opportunities for new experiences, new skills, work as teams and to discuss/shape activities e.g. table tennis, basketball, football, arts, crafts, baking and music

One example of young people unlocking their potential, voice and leadership is below:

As well as the youth service and Good Place pantry, Boiler House Spaces also provided various Northwold estate events and trips to help bring the community together and improve community relations as well as offering local families, particularly those from low income households a chance to leave London and have a break from their day to day.

The Northwold Community Centre was run by Boiler House Spaces in contract with The Guinness Partnership, the Northwold Estate’s Housing Association. The partnership came to an end in January 2024 A new provider took on the management of the centre. Boiler House Spaces transferred the Good Place Pantry to our hub at the Boiler House community centre on George Downing Estate, a short walk away, welcoming people from Northwold as well as the neighbouring areas.

Community spaces used by others

Alongside the community services and activities Boiler House Spaces and partners ran as outlined above, the Charity has reached out to and supported other organisations and individuals to use our spaces for their own activities, classes, events and services which have benefited our diverse community, helping combat isolation and increase community connections and cohesion. Activities have included:

Our charity has made it possible for local residents to hire the space for family gatherings at affordable rates for example for those unable to afford a gathering after a funeral or to hold a children’s birthday party.

The charity offered paid work to over 15 local people during the year and relevant volunteering opportunities.

5

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

Public Benefit

Our activities continue to focus on building relationships between local people and the community capital this can support; whilst working towards creating stronger/ healthier communities, where each individual has the opportunity to develop their potential and feel part of where they live.

The Charity continues to improve community cohesion by making available a ‘common ground’ through the community spaces as well as offering a diverse selection of activities for the local community to take part in with the aim to develop under used community assets whether this is people or buildings.

By doing this various benefits occur, local community members become more familiar/ friendly with each other, this helps to reduce isolation, develop local links / networking, develop skills and employment opportunities, reduce antisocial behaviour, increase well-being as people feel part of something and improve health and fitness by community members taking part in local fitness sessions in the centre.

We are also making voluntary roles available for local community members so they can develop their skill sets, feel part of something and help to involve other community members in the activities on offer. There will also be some paid roles available to help with the general management services of the Boiler House and other centres we hope to take on in the future. Our organisations aims are intended to benefit a diverse selection of the local community, of all ages, ethnic backgrounds, gender and sexual orientation this includes estate residents as well as those from the local areas.

Thank you to all our supporters

The Charity would like to thank our funders and supporters whether small or large. Our work would not be possible without the generosity of all who help including the following organisational supporters:

Bernard Sunley Foundation

Clothworkers Foundation Felix Project Fusion21 Foundation Garfield Weston Ground Work & Greater London Authority Hackney Council Hackney Food Bank Londis London Community Response Fund London Marathon Foundation London Youth LP Food at Work Morrisons Places Foundation Power to Change/ Social Investment Bank Shaftsbury Young People Trust Social Enterprise Support Fund Southern Housing Sport England The Guinness Partnership The National Lottery Community Fund Travis Perkins Tudor Trust West Hackney Parochial

6

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

PLANS & CHALLENGES FOR THE FUTURE

2023 was another hugely challenging year for local people with the combined impact of years of austerity reducing essential services, cutting local community support organisations, the knock on effect of the COVID crisis and all exacerbated by the acute cost of living crisis with rising bills for food and home energy etc. The funding climate and rising costs have also had a serious impact on charities including Boiler House Spaces which had to close some programmes and cut costs. The charity also experienced challenges with gaps and changes in Chief Executive staffing forced on the charity through no fault of the three CEO incumbents in the year.

The rising costs and delays as well as other obstacles e.g. in difficult and costly negotiations with Network Rail, further held back the planned space development causing a re-think on what is affordable to improve the space Nevertheless during 2024, the charity has survived and continues significant work alongside the community, has secured crucial new funding and plans a revised space development. All this means Boiler House Spaces is still true to its original vision and continues to create places for people to come together, combat isolation, find practical, social and emotional support and explore new opportunities to overcome the challenges they face, improve wellbeing and develop new skills, tap into their potential. There is much to treasure and exciting plans to pursue including to: - Continuepeople to run and expand the Good Place pantry providing vital food and household essentials for local

FINANCIAL REVIEW

Transactions and Financial Position

The Statement of Financial Activities shows a deficit of incoming resources over outgoing resources of £33,608 for the year. This includes a deficit on the designated Boiler House capital fund of £1201 a deficit of £67,990 on the unrestricted income funds and a surplus of £ 34,382 on the restricted funds. The deficit of £67,990 on the unrestricted funds for the year was funded by unrestricted reserves brought forward from the prior year.

Principal funding sources

Funded by the grants and donations from our hugely valuable supporters, large and small, especially the donated food and household essentials. In the year fees from the nursery, hire of the centres from session providers, private hirers, voluntary groups, corporate hire, sales of our locally produced N16 honey.

RESERVES POLICY

The Boiler House Community Space has revised its reserves policy as follows: It continues to hold significant funding commitments for the significant capital development.

7

THE BOILER HOUSE COMMUNITY SPACE

(A COMPANY LIMITED BY GUARANTEE)

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The organisation was incorporation as Community Interest Company (C.I.C) on 2[nd] December 2010 and changed it status from C.I.C to Private, Limited by guarantee with no share capital on 3[rd] September 2012 and registered as a charity on 12[th] September 2012. The charitable company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not

Recruitment and Appointment of Management Committee

The Board of Trustees are listed at the start of this document including resignations and additions since the 2022 Directors’ report. Further appointments will be made in line with the Articles of Association and based on areas of expertise/lived experience which the Board considers it needs.

All Board members give their time voluntarily and received no benefits from the charity. Eleanor Wright is the current Chair. Lucy Wood resigned as Chair and trustee in March 2023.

Trustees Induction and Training

Induction will be led by the chair (Eleanor Wright) or appointed board member who have a broad knowledge and understanding of the charity’s values as well as the governance and roles required from the trustees.

Risk Management

The Board actively reviews the risks which the charity faces on a regular basis. Regarding financial risks, the trustees will endeavour to maintain the reserve levels within the reserve policy levels.

The trustees have also reviewed other operational and business risks faced by the charity and where major risks arise will in liaison with the Chief Executive put in place action plans to mitigate the significant risks

Organisational Structure

The Board of Trustees are also Company Directors.

The Board continued to advise the Chief Executive who manages the senior staff. The board meets regularly, mostly quarterly, and are responsible for the Governance, strategic direction and policies of the charity. At present the Board has 4 members from a variety of professional backgrounds relevant to the work of the charity

The Board has established a Capital Project Steering Group, as a sub-committee to steer the capital project to develop the community spaces on George Downing Estate. The sub-committee includes trustee representatives, the Chief Executive, a Senior Manager and pro bono construction expert. Reports from the sub-committee are included at trustee meetings.

Statement of Directors' Responsibilities

Company laws require the directors to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements the Board of Directors should follow best practice and:

The Board of Directors are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006.

The Board of Directors are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities.

8

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

Members of the Board of Directors

Members of the Board of Directors, who are directors for the purpose of company law, who served during the year and up to the date of this report are set out on page 2.

Review and Results

The Directors report an operational deficit of £33,608 on operations for the year under review.

Balance Sheet

Details of the major items on the balance sheet can be found in the notes to the accounts.

The fluctuations in debtors and creditors year on year are purely the result of the timing of receipts and payment around the year-end.

ACCOUNTANTS

Lewis Curtis Ltd has signified their willingness to continue in office.

Approved by the Directors on 20 December 2024 and signed on its behalf by

----- Start of picture text -----
Abigail Gilbert
(Director)
----- End of picture text -----

Eleanor Wright (Director)

9

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT EXAMINER'S REPORT TO THE DIRECTORS/TRUSTEES OF THE BOILER HOUSE COMMUNITY SPACE

We report to the charity trustees/directors on our examination of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied ourselves that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, we report in respect of our examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out our examination we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiners statement

We have completed our examination. We confirm that no matters have come to our attention in connection with the examination giving us cause to believe

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act: or

  2. the accounts do not accord with those records: or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination: or

  4. the accounts have not been prepared in accordance with the methods and principals of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the Up and Republic of Ireland (FRS102)).

We have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Lewis Curtis Ltd 10 Durham Avenue Romford Rm2 6JS

Date: 20 December 2024

10

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

(Including Income and Expenditure Account)

Notes Unrestricted Funds Restricted 2023 Total 2022 Total
Income Capital Funds Funds Funds
£ £ £ £
Incoming resources
Public Session Providers 6,666 - - 6,666 17,401
Project income 400 - - 400 312
Party Hire 16,629 - - 16,629 14,364
Grants 3 31,824 - 165,732 197,556 393,703
Nursery Fees 136,626 - - 136,626 186,885
Contract fees 69,996 - - 69,996 69,996
Bank interest 2,132 - - 2,132 366
Donations 5,939 - - 5,939 6,642
Honey sales 340 - - 340 (66)
Good Place Membership 7,721 - - 7,721
Total incoming resources 278,273 - 165,732 444,005 689,603
Resources expended
Charitable activities
Nursery Costs 1,985 - - 1,985 13,407
Honey costs 600 - - 600 2,638
Hope Boxing - - - - 8,316
Trips, Outings & Events - - - - 330
Organisational development - - - - 6,369
Community Space Management - - - - 345
Nursery Staff 106,499 - 106,499 156,173
Community/Project Development - - - - 421
NW General youth service 6,643 - - 6,643 7,381
Youth services staff 47,488 - 9,671 57,159 60,053
Food provision 4,461 - 2,925 7,386 11,719
Space hire costs - - - - 794
Cleaning/cleaner 6,560 - - 6,560 4,142
Insurance 7,137 - - 7,137 5,721
Operational Costs 49,006 - 3,736 52,742 31,140
Managerial staff 61,588 - 61,208 122,796 105,860
Capital works - - 52,735 52,735 227,251
Furniture & Equipment 410 - - 410 4,402
Teambuilding 3,349 - - 3,349 4,153
Premises costs 12,468 - 1,075 13,543 5,072
Bad debts 3,868 - 3,868 687
Fundraising 28,000 - - 28,000 6,000
Governance costs
Accountancy services 3,448 - - 3,448 4,202
Bank charges and interest 961 - - 961 829
Filing penalties 750 - - 750
Trustee meeting costs - - - - 27
Depreciation 1,042 - - 1,042 1,389
Total Resources expended 346,263 - 131,350 477,613 668,821
Net incoming(outgoing) resources for the year (67,990) - 34,382 (33,608) 20,782
Transfer to unrestricted capital fund 1,201 (1,201) -
Net movements in funds (66,789) (1,201) 34,382 (33,608) 20,782
Balance brought forward at 01/01/2023 84,039 92,383 88,107 264,529 243,747
Balance carried forward at 31/12/2023 17,250 91,182 122,489 230,921 264,529

11

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022

Notes
Incoming resources
Public Session Providers
Project income
Party Hire
Grants
Nursery Fees
Contract fees
Bank interest
Donations
Honey sales
Total incoming resources
Resources expended
Charitable activities
Nursery Costs
Honey costs
Hope Boxing
Trips, Outings & Events
Organisational development
Community Space Management
Nursery Staff
Community/Project Development
NW General youth service
Youth services staff
Food provision
Food provision
Space hire costs
Cleaning/cleaner
Insurance
Operational Costs
Managerial staff
Capital works
Furniture & Equipment
Teambuilding
Premises costs
Bad debts
Fundraising
Governance costs
Accountancy services
Bank charges
Trustee meeting costs
Depreciation
Total Resources expended
Net incoming(outgoing) resources for the year
Transfer to unrestricted capital fund
Net movements in funds
Balance brought forward at 01/01/2022
Balance carried forward at 31/12/2022		 Restricted
2022 Total
2021 Total
Income
Capital
Funds
Funds
Funds
£
£
£
£
17,401
-
-
17,401
2,180
312
-
-
312
147
14,364
-
-
14,364
26,767
20,228
-
373,475
393,703
133,032
186,885
-
-
186,885
171,545
69,996
-
-
69,996
79,153
366
-
-
366
47
5,390
1,252
6,642
2,215
(66)
-
-
(66)
576
Unrestricted Funds
314,876
1,252
373,475
689,603
415,662
13,407
-
-
13,407
17,075
2,638
-
-
2,638
-
2,013
-
6,303
8,316
632
-
-
330
330
-
6,369
-
6,369
16,936
345
-
345
79
154,253
-
1,920
156,173
160,526
421
-
421
6,275
7,381
-
7,381
16,104
34,610
-
25,443
60,053
27,032
11,719
-
11,719
42,607
(18,226)
-
18,226
-
-
794
-
-
794
979
4,142
-
-
4,142
1,114
5,137
-
584
5,721
3,797
25,806
-
5,334
31,140
6,732
57,924
-
47,936
105,860
94,625
1,530
-
225,721
227,251
6,258
-
4,402
4,402
-
4,153
-
-
4,153
810
5,072
-
-
5,072
4,143
687
-
-
687
529
6,000
-
-
6,000
-
-
-
-
-
4,202
-
-
4,202
1,500
829
-
-
829
571
27
-
-
27
-
1,389
-
-
1,389
1,853
332,622
-
336,199
668,821
410,177
(17,746)
1,252
37,276
20,782
5,485
51
(51)
-
(17,695)
1,201
37,276
20,782
5,485
101,734
91,182
50,831
243,747
238,263
84,039
92,383
88,107
264,529
243,748
12

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

BALANCE SHEET

AS AT 31 DECEMBER 2023

Notes
Fixed Assets
Tangible Fixed Assets
6
Current assets
Debtors and prepayments
8
Cash at bank and in hand
Liabilities:amounts falling due within one yea
9
Net current assets
Net assets
Funds
Unrestricted income funds
Unrestricted capital funds
Restricted funds
10		 2023
94,308
15,176
168,895
184,071
47,458
136,613
230,921
17,250
91,182
122,489
230,921		 2022
95,350
24,604
202,340
226,944
57,765
169,179
264,529
84,039
92,383
88,107
264,529

For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

Directors responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to

accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to small companies' regime.

The board of directors approved these accounts on 20 December 2024

Abigail Gilbert (Director)

Eleanor Wright

(Director)

13

THE BOILER HOUSE COMMUNITY SPACE

(A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2023

1 Accounting policies

Basis of preparation and accounting convention

The accounts (financial statements) have been prepared on the accruals basis, under the historical cost convention and in accordance with the Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Preparation of the accounts on a going concern basis

The trustee considers that there are no material uncertainties about the Charities’ ability to continue as a going concern. The COVID-19 pandemic has affected the charities income streams and reduced the access of our community centres. We lost significant revenue due to the first lock down measures, where we had to close the majority of our nursery and community centre services. The nursery has since been able to re-open and we hope will be able to continue to provide early years support and development to local families and their children. However, the community centre hire continues to be affected by social distancing measures. while this continues, we are due to lose the majority of this income stream and the provision of activities for local people. We have continued to utilise the space through an on-going food bank, so are still able to engage with local people and offer support to those effected by the pandemic.

Fund structure

The company's general funds consists of funds which the company may use for it purposes at its discretion. The general funds are split between the income funds and the premises capital expenditure funds. The company's restricted funds are those where the donor has imposed restrictions on the use of the funds, which are legally binding.

Voluntary income

All voluntary income is included on receipt. Grants receivable is credited to income immediately on receipt.

Investment income

Credit is taken for interest when the interest falls due for payment.

Nursery Fees and Hall Hire Fees

Nursery fees and hall hire fees are included in the accounts when earned. Where income is received in advance of the service being provided it is deferred to the period in which the service is provided,

Administrative expenditure

Administrative expenditure comprises costs incurred in running the company. Where applicable, some of these costs have been treated as direct charitable expenditure.

Fixed assets and depreciation

Fixed assets are included in the accounts at their historical cost and are written off through the statement of financial activities at the following rates

Plant and machinery - 25% reducing balance

Building improvements - over expected useful life once complete and in use

14

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2023

2 Interest receivable and similar income

2
Interest receivable and similar income
Bank interest
3
Grants receivable
Fusion21 Foundation
The Guinness Partnership
Places for People
Travis Perkins
Southern Housing Group
Hackney Family Centre
Elba
Groundwork London
SYP Trust
London Borough of Hackney
Hackney Community Fund - capital works
Power to Change- capital works
London Community Response Fund
Garfield Western - capital works
Greener City
Social Enterprise Support Fund
London Youth
National Lottery Community Fund
Total Restricted grants
The Guinness Partnership
London Borough of Hackney
ESC Lottery Fund
Hackney Small Grants
Total Unrestricted grants
Total grants
4
Staff costs
Wages and salaries
Social security costs
Contributions to defined contribution pension scheme		 2023
£
2,132
2023
£
10,000
-
-
-
2,000
12,000
4,000
26,250
8,532
23,550
90,000
-
-
-
-
-
1,400
-
165,732
15,000
-
13,824
3,000
31,824
197,556
2023
£
248,475
10,775
4,710
263,960		 2022
£
366
2022
£
7,500
20,000
9,000
11,000
-
47,500
-
-
-
-
-
200,000
11,725
50,000
3,750
47,000
6,800
10,000
376,775
5,678
11,250
-
-
16,928
393,703
2022
£
300,442
15,211
5,934
321,587

Average monthly number of employees

17

19

15

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2023

No employee received emoluments in excess of £60,000

5 Remuneration of directors

No directors have received remuneration as directors of the charitable company during the year. No trustees have received payment of expenses during the year.

6 Fixed assets

Cost
As at 1 January 2023
Additions
As at 31 December 2023
Depreciation
As at 1 January 2023
Provided during year
As at 31 December 2023
Net book value at 1 January 2023
Net book value at 31 December 2023
Fixed assets - prior year analysis
Cost
As at 1 January 2022
Additions
As at 31 December 2022
Depreciation
As at 1 January 2022
Provided during year
As at 31 December 2022
Net book value at 1 January 2022
Net book value at 31 December 2022		 Capital Fund
Income Fund
Property
improvements
Plant &
Machinery
91,182
10,639
91,182
10,639
-
6,471
-
1,042
-
7,513
91,182
4,168
91,182
3,126
Capital Fund
Income Fund
Property
improvements
Plant &
Machinery
91,182
10,639
-
-
91,182
10,639
-
5,082
-
1,389
-
6,471
91,182
5,557
91,182
4,168		 Total
101,821
-
101,821
6,471
1,042
7,513
95,350
94,308
Total
101,821
-
101,821
5,082
1,389
6,471
96,739
95,350

16

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2023

8 Debtors

8
Debtors
Community space hire
Nursery fees
Other debtors
9
Liabilities: amounts falling due within one year
Social Security and Other taxes
Deferred Income
Other creditors
Accruals		 2023
£
-
-
15,176
15,176
2023
£
7,910
-
37,748
1,800
47,458		 2022
£
20,327
2,309
1,968
22,636
2022
£
11,581
3,750
39,134
3,300
57,765

10 Restricted funds

Fund
Power to Change
London Youth
Garfield Weston
Social Enterprise Support Fund
Hackney Family Centre
National Lottery Community Fund
Elba
Groundworks build back greener
Shaftesbury
Hackney Community Fund
Hackney Infrastructure		 Brought
forward
01/01/2023
Income
Expenditure
Net
movement
Carried forward
31/12/23
5,274
-
2,735
(2,735)
2,539
2,225
1,400
3,625
(2,225)
-
50,000
-
50,000
(50,000)
-
11,750
-
11,750
(11,750)
-
9,275
12,000
21,275
(9,275)
-
9,583
-
9,583
(9,583)
-
-
4,000
4,000
-
-
-
26,250
1,250
25,000
25,000
-
8,352
8,352
-
-
-
90,000
-
90,000
90,000
-
23,550
18,600
4,950
4,950
-
-
88,107
165,552
131,170
34,382
122,489

17

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31DECEMBER 2023

11 Restricted funds -prior year analysis

Fund
Power to Change
London Community Response Fund
Aspire
London Youth
Garfield Western
Greener city
Social Enterprise Support Fund
CEV Hackney
Hackney Family Centre
National Lottery Community Fund		 Brought
forward
01/01/22
Income
Expenditure
Net
movement
Carried forward
31/12/22
27,247
200,000
221,973
(21,973)
5,274
-
11,725
11,725
-
-
5,358
-
5,358
(5,358)
-
-
3,500
1,275
2,225
2,225
-
50,000
-
50,000
50,000
-
3,750
3,750
-
-
-
47,000
35,250
11,750
11,750
18,226
-
18,226
(18,226)
-
-
47,500
38,225
9,275
9,275
-
10,000
417
9,583
9,583
50,831
373,475
336,199
37,276
88,107

12 Share capital

The Boiler House Community Space is a company limited by guarantee and does not have share capital. The liability of each member in the event of winding-up is limited to £10.

13 Related Party Transactions

None of the trustees were paid any remuneration or received any benefits during the year.

18