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2024-12-31-accounts

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

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

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 2024

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
Michelle Baker (resigned 28/09/24)
Margaret Greer (appointed 30/07/24)
Jasvir Grewal (appointed 17/12/24, resigned 25/03/25)
Richard Holman (appointed 01/04/25)
Trustees Abigail Gilbert
Eleanor Faith Wright
Michelle Baker (resigned 28/09/24)
Margaret Greer (appointed 30/07/24)
Jasvir Grewal (appointed 17/12/24, resigned 25/03/25)
Richard Holman (appointed 01/04/25)
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

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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:

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

Highlights of the year: January to December 2024

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

Our main objectives for the year continued to be the development and support of under-used community ‘assets’ (people and spaces).

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)

Funders for the Good Place included City Bridge Foundation, National Lottery Community Fund Awards for All and core support from the Charity of Sir Richard Whittington and the Mercer's Company trustees via the Church and Communities Committee.

When the Good Place pantry re-located from Northwold Community Centre at the close of 2023 to the Boiler House Community Space on George Downing Estate, we continued to welcome people from the Northwold community as well as the neighbouring areas.

Bee-keeping, social enterprise honey production & community gardening on George Downing Estate

We have 4 beehives and hold a community honey harvest each year to engage local families with nature, producing honey for sale as an example of community social enterprise. There is potential to develop these links with nature and the environment and build further on the existing community gardening – all volunteers but with considerable expertise. See capital project below.

At George Downing Estate our capital project is underway to create c. £600k of new and improved indoor and outdoor spaces: an extension to the community centre; a small ‘MUGA’ sports / games pitch and a community garden. Community spaces where residents can socialise, build skills and develop their health and wellbeing. During 2024 we began work on both the new Multi Use Games Area and the preparatory work for the new community garden removing the old MUGA and engaging a garden designer who co-produced the garden with local resident gardening volunteers.

George Downing Estate Residents’ Association is a key partner for all our work on the Estate. The charity consults regularly with the Association and wider community who are at the centre of shaping plans both for the space improvements and the future plans for the charity.

Partnerships

Our staff team includes food/cookery and other expertise and links us to partners e.g. Carib Eats (see below), Hackney Young Peoples’ University, and Maxines Cakes, which will support delivery, and also KDD branding merchandise.

Carib Eats is a long-standing partner and now part of our City Bridge funded new 3-year partnership which started autumn 2024. Carib Eats is in Dalston so reaches other Hackney neighbourhoods. The partnership includes a weekly lunch club, sharing circle (which one participant said is ‘like free therapy’, bingo and other games in the afternoon, connecting people from the Afro Caribbean and other communities including volunteers to support the activities. It has a big impact on wellbeing and combating isolation.

Betaminds is another local social enterprise with whom we are exploring a new partnership at their community facility in Lower Clapton. Betaminds works to enhance the personal, emotional, social and mental wellbeing of youth and marginalised groups.

At our Myddleton Grange community centre in northwest Hackney:

 we ran an affordable nursery for local families and also a space for Friday and weekend community and other group hire as well as a community garden run  by local volunteers.

The nursery offered affordable quality care, learning, activities and healthy meals where early years children can have fun and thrive.

At the end of December 2024 the nursery sadly had to close due to falling numbers needing the nursery. This was partly a result of the falling birth rate in Hackney that has led to other nurseries and schools closing. One knock on from this lower school numbers was that more schools opened nurseries too in the vacant spaces in schools

As a result of this, the charity has begun re-connecting with more local people and groups on the Myddleton Grange Estate. Then in early 2025 we had the centre re-decorated ready for wider as a community centre which offers:

4

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

Local residents use our community garden free of charge to come together for the opportunity to grow plants and vegetables.

The Hackney Family Centre (HFC) Baby Bank, located at High Hill Community Hall on Harington Hill was a partnership including Boiler House Spaces, Little Village, Sal’s Shoes, Fusion21 Foundation and local volunteers and supporters. 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.

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.

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. Alongside this are a number of paid roles almost all taken up by local people. Our organisation's aims are intended to benefit a diverse selection of the local community, of all ages, ethnic backgrounds, gender and sexual orientation, including estate residents as well as those from the local areas.

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

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

Charity of Sir Richard Whittington and the Mercer's Company trustees via the Church and Communities Committee City Bridge Foundation

East London Business Alliance ELBA Felix Project Fusion21 Foundation Garfield Weston Foundation Ground Work, Grow Back Greener & Greater London Authority The Hygiene Bank – Stoke Newington Londis -N16 London Borough of Hackney London Marathon Foundation LP Food at Work Morrisons The National Lottery Community Fund Awards For All Power to Change/ Social Investment Bank Southern Housing The Guinness Partnership Tudor Trust

PLANS & CHALLENGES FOR THE FUTURE

2024 was an even more challenging year for local people with the cost of living crisis often devastating for poorer household budgets and alongside this the huge impact of years of austerity reducing essential services, cutting local community support organisations 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.

Nevertheless during 2024 and into 2025, the charity has survived and continues significant work alongside the community, has secured crucial new funding and is underway with the first parts of the capital project improvements to the community spaces on George Downing Estate. 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:

In 2025 we defined a new strategy in consultation with the community

6

THE BOILER HOUSE COMMUNITY SPACE

(A COMPANY LIMITED BY GUARANTEE)

FINANCIAL REVIEW

Transactions and Financial Position

The Statement of Financial Activities shows a deficit of incoming resources over outgoing resources of £19,478 for the year. This includes a deficit of £10,458 on the unrestricted income funds and a surplus of £29,936 on the restricted funds. £83,170 was transferred from the unrestricted capital fund to the unrestricted income fund following the identfication of building costs which were paid from restricted funds. The deficit of £10,458 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:

1. Capital Reserves Policy

Retaining and when affordable plans are in place investing the capital development reserve to enable improvement and addition to the current premises and facilities indoors and outdoors at Boiler House Spaces on George Downing Estate.

2. Free reserves policy

Retaining a target unrestricted reserve of the equivalent of 3 months’ budgeted revenue expenditure (excluding budgeted expenditure that relates to the capital development works). When reviewing reserves policy in August 2025, the trustees recognised the free reserves were lower than the target and so the trustees prioritised achieving financial operational sustainability. Financial sustainability is aided by two significant three year revenue grants plus increased revenue from hiring out the premises and facilities which altogether cover a significant proportion of revenue expenditure

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 2023 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.

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 surplusof £102,648 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 29 October 2025 and signed on its behalf by

Abigail Gilbert (Director)

Richard Holman (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 2024.

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: 29 October 2025

10

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

(Including Income and Expenditure Account)

Notes Unrestricted Funds Restricted 2024 Total 2023 Total
Income Capital Funds Funds Funds
£ £ £ £
Incoming resources
Public Session Providers 10,836 - - 10,836 6,666
Project income - - - 400
Party Hire 7,286 - - 7,286 16,629
Grants 3 (15,000) - 316,402 301,402 197,556
Nursery Fees 120,072 - - 120,072 136,626
Contract fees 11,666 - - 11,666 69,996
Bank interest 2,527 - - 2,527 2,132
Donations 2,404 - - 2,404 5,939
Honey sales 1,127 - - 1,127 340
Good Place Membership - - - 7,721
Total incoming resources 140,918 - 316,402 457,320 444,005
Resources expended
Charitable activities
Nursery Costs 3,077 - - 3,077 1,985
Honey costs - - - - 600
Nursery Staff 107,584 - - 107,584 106,499
NW General youth service 207 - - 207 6,643
Youth services staff - 5,590 5,590 57,159
Food provision 196 - 2,837 3,033 7,386
Cleaning/cleaner 816 - 816 6,560
Insurance 7,376 - 7,376 7,137
Operational Costs 20,912 - 5,635 26,547 52,742
Managerial staff 3,011 - 89,130 92,141 122,796
Capital works - - 93,452 93,452 52,735
Building costs transferred to restricted - - 83,170 83,170 -
Furniture & Equipment 444 - - 444 410
Teambuilding 305 - - 305 3,349
Premises costs 4,192 - - 4,192 13,543
Bad debts - - - - 3,868
Fundraising 549 - 6,651 7,200 28,000
Governance costs - - -
Accountancy services 1,800 - - 1,800 3,448
Bank charges and interest 126 - - 126 961
Filing penalties - - - - 750
Depreciation 781 - - 781 1,042
Total Resources expended 151,376 - 286,466 437,842 477,613
Net incoming(outgoing) resources for the year (10,458) - 29,936 19,478 (33,608)
Transfer from unrestricted capital fund 83,170 (83,170) -
Net movements in funds 72,712 (83,170) 29,936 19,478 (33,608)
Balance brought forward at 01/01/2024 17,250 91,182 122,489 230,921 264,529
Balance carried forward at 31/12/2024 89,962 8,012 152,425 250,399 230,921

11

THE BOILER HOUSE COMMUNITY SPACE (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023

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
Filing penalties		 961
750		 -
-		 -
-		 961
750		 829
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

12

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

BALANCE SHEET

AS AT 31 DECEMBER 2024

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 year
9
Net current assets
Net assets
Funds
Unrestricted income funds
Unrestricted capital funds
Restricted funds
10		 2024
10,357
1,212
321,560
322,772
82,730
240,042
250,399
89,962
8,012
152,425
250,399		 2023
94,308
15,176
168,895
184,071
47,458
136,613
230,921
17,250
91,182
122,489
230,921

For the year ended 31 December 2024 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 29 October 2025

Abigail Gilbert (Director)

Richard Holman

(Director)

13

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

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

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.

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

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

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

2 Interest receivable and similar income

Bank interest
3
Grants receivable
Fusion21 Foundation
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
Tudor Trust
London Marathon Foundation
Charity of Sir Richard Whittington and the Mercer's Company
London Youth
National Lottery Community Fund
Total Restricted grants
The Guinness Partnership
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
Average monthly number of employees		 2024
£
2,527
2024
£
3,750
-
3,750
2,000
-
-
19,800
-
74,960
30,000
130,000
36,000
-
19,892
316,402
(15,000)
-
-
(15,000)
301,402
2024
£
189,131
13,734
4,171
207,036
12		 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
17

No employee received emoluments in excess of £60,000

15

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

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024
Transfer to restricted funds
As at 31 December 2024
Depreciation
As at 1 January 2024
Provided during year
As at 31 December 2024
Net book value at 1 January 2024
Net book value at 31 December 2024
Fixed assets - prior year analysis
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		 Capital Fund
Income Fund
Property
improvements
Plant &
Machinery
91,182
10,639
(83,170)
8,012
10,639
-
7,513
-
781
-
8,294
91,182
3,126
8,012
2,345
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		 Total
101,821
(83,170)
18,651
7,513
781
8,294
94,308
10,357
Total
101,821
-
101,821
6,471
1,042
7,513
95,350
94,308

16

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

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

8 Debtors

Other debtors
9
Liabilities: amounts falling due within one year
Social Security and Other taxes
Other creditors
Accruals		 2024
£
1,212
1,212
2024
£
3,274
75,856
3,600
82,730		 2023
£
15,176
15,176
2023
£
7,910
37,748
1,800
47,458

10 Restricted funds

Brought
forward Net Carried forward
Fund 01/01/2024 Income Expenditure movement 31/12/24
Power to Change 2,539 74,960 77,499 (2,539) -
London Marathon Foundation - 130,000 118,747 11,253 11,253
Tudor Trust - 30,000 10,231 19,769 19,769
Fusion 21 Foundation - 3,750 3,750 - -
London Borough of Hackney - 19,800 19,800 - -
National Lottery Community Fund - 19,892 19,892 - -
Elba - 2,000 2,000 - -
Groundworks build back greener 25,000 - 12,518 (12,518) 12,482
'Charity of Sir Richard Whittington and the M - 36,000 17,079 18,921 18,921
Hackney Community Fund 90,000 - - - 90,000
Hackney Infrastructure 4,950 - 4,950 (4,950) -
122,489 316,402 286,466 29,936 152,425

17

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

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

11 Restricted funds -prior year analysis

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
01/01/23
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

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