ALBION STREET COMMUNITY CHARITY LTD
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2024
Registered Company Number: 08045622
Registered Charity Number: 1153318

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 May 2024
Page
Report of the Trustees
Ito3
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
7t013
Detailed Statement of Financial Activities
14

ALBION STREET COMMUNITY CHARITY LTD
REPORT OFTHE TRUSTEES
for the year ended 31 May 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Trustees
Pauline Adenwalla
Reverend Ulla Harkonen
Thomas Holder
Reverend Dag Magnus Hop5tock Havgar
Reverend Mark Nicholls
Dr Amanda Squires
Reverend Tesfamichael Negusse
Registered Company number
08045622
Registered Charity number
1153318
Registered office
8 Pageant Crescent
London
SE16 5FZ
Independent examiner
David Warren
Cocke, Vellacott & Hill
Chartered Accountants
Unit 28 City Business Centre
Lower Road
London
SE16 2XB
Page I

ALBION STREET COMMUNITY CHARITY LTD
REPORT OF THE TRUSTEES Icontinuedl
for the year ended 31 May 2024
The Trustees (who are also directors of the Charity for the purposes of the Companies Act) present their annual report, which 5erve5 the
purpose of both a Trustees, report and Directors, report, together with the Pinancial statements of Albion Street Community Charity Ltd
(the charity) for the year ended 31 May 2024. The Trustees confirm that the Annual Report and financial statements of the Charity
comply with the current statutory requirement5, the requirements of the Charity's governing document and the provislons of the
Charities Statement of Recommended Practice IFRS 1021.
Since the Charity qualifies a5 small under section 383, the strategic report required of medium and large companies under the Companies
Act 2006 (Strategic Report and Di￿(to￿$ Report) Regulations 2013 is not required.
TRUSTEES
The trustees who served the Charity during the year and since the year end were as follows..
Pauline Adenwalla
Reverend Ulla Harkonen
Thomas Holder (appointed 18 January 20241
Reverend Dag Magnus Hopstock Havgar
Conor Marren Iresigned 27 November 20231
Reverend Tesfamichael Negusse
Reverend Mark Nicholls
Dr Amanda Squires
OBJECTIVES AND ACTIVITIES
The Charity's purposes Set out in the Articles of Association are to relieve the needs of people living in or working in the Ancient Parish
of Rotherhithe, to preserve and consetve buildings or sites of historic or architectural importance and to provide orasslst in the provislon
of facilities for public amenities, recreation and public health in the same geographical area.
While pursuing the objectives of the Charity, the Trustees have given careful consideration to the Charity Commission's guidance on
public benefit.
ACHIEVEMENT AND PERFORMANCE
A continuing Improvement in the Charity's financial position enabled the Trustees to further raise awareness of it5 financial grant scheme
and to revisit its reserves policy to reflect the increased liability of the new lease and any redundancy obligation5. The Charity was also
able to make financial grants totalling £9,825 to eight local organisation512023.. £4,976 to four local organi5ationsl 35 disclosed in note
As noted in previou5 years financial grant5 are not the only way in which the Charity supports the local community and our shop trading
as Up Market has always been a much valued local drop in centre offering social interaction and practical advice particularly for the
vulnerable, lonely and those seeking emotional support. The shop also provides work experience opportunities for local 6th form students
and for those looking to enhance their prospects of longer term paid employment.
FINANCIAL REVIEW
Upmarket has become a well-regarded and successful business with a regular clientele extending beyond SE16. Operating expenses
have increased, notably due to increases in the pay and hours of our two employees, in the cost of waste disposal and utilities and in
the rent of the Barage used for storage of stock but rernain well controlled. However thanks to the excellent work of our much-valued
team of staff and volunteers together with a generally reliable volume of donations of second hand goods the Shop has been able to
achieve a consistently strong sales performance. As a result the Charity was able to record a surplus of £16,85412023'. surplus of
£25,360). It continues to strive to reduce recycling and waste costs.
As at 31 May 2024 the Charity held unrestricted reserves of £74,655.
Page 2

ALBION STREET COMMUNITY CHARITY LTD
REPORTOF THE TRUSTEES Icontinuedl
for the year ended 31 May 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Charity 15 a company lirnited by guarantee. It operates under the rules of its Artlcles of Association dated 25 April 2012. The Charity
changed its name on 15 july 2013 and registered at the Charity Commission on 9 August 2013. It has no share capital and the liability of
each member in the event of winding up is limited to £1.
The Trustee5 are appointed in accordance with the Articles of Association. New Trustees joining the Board are given an appropriate
briefing on their obligations under company and charity law and on the contents of the Articles of Association. They are also referred to
guidance issued by the Charity Commission on the role of the Charity Trustee.
The main risk to the Charlty is a failure to generate sufficient income from sales to finance its operations as well as provide funding for
charitable projects. The trustees are satisfied that the major risks have been mitigated as far as reasonably possible but the Board
recognises that it must keep these risks under constant review if the Charity is to continue to operate. In this connection the controls in
place include regular updates to trustees on our financial position, the preparation of formal agendas for Board meetings which highlight
areas of concern and formal approval procedures for financial and strategic decisions.
GRANT MAKING
The payment of grants in furtherance of the charity's objectives are voted and agreed upon by the trustees at regular meetings.
PLANS FOR FUTURE PERIOD5
The 10 year lease on the premises in Albion Street signed in January 2023, has provided Trustees with the confidence to explore and
develop ways for Increasing sales and reducing recycling cost5.
In preparing this report the trustees have taken advantage of the small companies, exemptions provided by section 415A of the
Companies Act 2006.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United
Kingdom Generally Accepted Accountin8 Practice.
Charity law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year
which give a true and fair view of charity's financial activitie5 during the year and of its financial position at the end of the year. In
preparing financial statements giving a true and fair view, the trustees are required to..
select suitable accounting policies and then apply them consistentlv.
make judgements and estimate5 that are reasonable and prudent,. and
state whether applicable accounting standards have been followed, subject to any material departure5 that must be disc105ed and
explained in the financial statements,. and
prepare the financial statements on the going concern basis unless it is Inappropriate to presume that the charity will continue in
business.
The trustees are responsible for keeping proper accountlng records which are sufficient to show and explain the charity's transactions
and to disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial
statement5 comply with the Charitie5 Act 2011. the provision of the Trust deed and the "Charities SORP IFRS 1021. They are also
responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
Approved by order of the Board of Trustees on 12 September 2024 and signed on its behalf by:
Pauline Ade
rustee
Page 3

ALBION STREET COMMUNITY CHARITY LTD
INDEPENDENT EXAMINER'S REPORT OF THE TRUSTEES OF
ALBION STREET COMMUNITY CHARITY LTD
I report on the accounts for the year ended 31 May 2024 set out on pages 5 to 13.
Respective responsibilitie5 of trustees and examiner
The charit¢s trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is not required
for this year lunder Section 144121 of the Charities Act 2011 (the 2011 Actll ond that an independent examination is required.
It is my responsibility to..
examine the accounts under Section 145 of the 2011 Act-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Settion 451511bl
of the 2011 Act),. and
to state whether particular matters have come to my attention.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that In, any material
respect..
the accounting records were not kept in accordante with section 130 of the 2011 Act,. or
the accounts did not accord with the accounting records,. or
the accounts did not comply with the applicable requirement5 concerning the form and content of accounts set out in the
Charities IAccounts and Reports) Regulations 2008 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.
I 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.
David Warren
Cocke, Vellacott & Hill
Chartered Accountants
Unit 28 City Business Centre
Lower Road
LONDON
SE16 2XB
19 September 2024
Page 4

ALBION STREET COMMUNITY CHARITY LTD
STATEMENT OF FINANCIAL AcfiviTIES
for the year ended 31 May 2024
Notes
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
Totsl
2023
Income and endowments from:
Trading income
Charitable activities
Other income
86.996
86.996
82,026
310
310
78
Total income
87,306
87,306
82,104
Expenditure on:
Raising funds
Charitable activities
60.627
9.825
60,627
9,825
51,768
4.976
Total expenditure
70,452
70,452
56,744
Net income and net movement in funds
16,854
16,854
25,360
Transfer between funds
Reconciliation of funds
Total funds brought forward
57,801
57,801
32,441
Total funds carried forward
All of the tharitys activities derive from continuing operations during the above two periods.
The notes on pages 7 to 13form part of thesefinancit71 stotements
Page 5

ALBION STREET COMMUNITY CHARITY LTD
BALANCE SHEET
as at 31 May 2024
2024
2023
Notes
Fixed assets:
Tangible assets
251
335
Current assets:
Debtors
Cash at bank
io
3.072
72.112
780
55,246
75,184
59,026
Liabilities:
Creditors: Amounts falling due within one year
li
1.560
Net current assets / Iliabllitiesl
74,404
57,466
Total assets les5 current liabilities
74,655
57,801
Total net assets I Iliabilitiesl
74.655
57,801
The funds of the charity:
Restricted income funds
Unrestricted funds
12, 13
12, 13
74.655
57,801
TOTAL FUNDS
74,655
57,801
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an auditfor the year in question in accordance with section 476 of the Companies
Act 2006.
The Trustees acknowledge their responsibilities for complying with the requlrements of the Act with respect to accounting records and
preparation of financial staternents.
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republit of
Ireland IFRS1021.
The financial statement5 were approved by the Board of Trustees on 12 September 2024 and were signed on it5 behalf by..
Pauline Adenwall
ee
The notes on pages 7 to 13forrn purt of thesefinanciul 5totements
Page 6

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 May 2024
GENERAL INFORMATION AND ACCOUNTING POLICIES
The Charity is a company limited by guarantee. It operates under the rules of its Articles of A550ciation dated 25 April 2012. The
Charity changed Its name on 15 July 2013 and registered at the Charity Commission on 9 August 2013. It has no share capital and
the liability of each member in the event of winding up is limited to £1. The Registered Charity number of the Trust 1$ 1153318 and
its registered address is 8 Pageant Crescent, London. SE16 5FZ.
The charity's overall objectives are to relieve the needs of people Ilvlng in or working in the Ancient Parlsh of Rotherhithe, to
preserve and conseNe buildings or sites of historic or architectural importance and to provide or assist in the provision of facilities
for public amenities, recreation and public health in the same geographical area.
ACCOUNTING POLICIES
1.1 Basis of preparation of the financial statements
The financial statements have been prepared in accordance with the Statement of Recommended Practice-. Accounting and
Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS1021 issued on 16th July 2014 and the Financial Reporting Standard applicable in the United Kingdom and
Republic of Ireland IRFS1021 and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1st january 2019, and
the Companies Act 2006.
After reviewing the charity's finances, the trustees have a reasonable expectation that the charity has adequate resources to
continue in operational existence for the foreseeable future. The trust therefore continues to adopt the going concern basis in
preparing its financial statements.
Albion Street Community Charity Ltd meets the definition of a public benefit entity as deflned by FRS 102.
Assets and liabilities are initially recognised at historical cost ortransaction value unless otherwise stated in the relevant accounting
policy.
1.2 Going concern
The Charity meets its running costs from its trading activities. The nature of the Charity's operations is such that there can be
unpredictable variations in the timing and amounts of cash inflow5. The Trustees continuously review the funding prospects and
expenditure levels and take action to reduce expenditure should funding expectations and reserves appear inadequate.
The Trustees consider that it is appropriate to prepare the financial statements on a going contern basls. This assumes that the
Charity will be successful in its trading activities. These financial statements do not include any adjustments that would result if
insufficient funds are raised. In forming thi5 assessment the Trustees have taken into attount the impact of Covid-19.
1.3 Company status
The Charity is a company limited by guarantee. The members of the Charity are the trustees named on page l. In the event of the
Charity being wound up the liability ion respect of the guarantee is limited to £1 per member of the Charity.
1.4 Fund accounting
General funds are unrestricted funds which are avallable for use at the discretion of the Trustees in furtherance of the general
objectives of the Charity, and which have not been designated for other purposes.
Restritted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been
raised by the Charity for particular purpose5. The cost5 of raising and administering such funds are charged against the specific
fund. The aim and use of each restricted fund 15 set out in the note5 to the financial statements.
1.5 Income
All incorne 15 recognised once the Charity has entitlement to the income, it is probable that the income will be received and the
amount of income receivable can be measured reliably.
Trading income represents income received from shop sales which is recognised upon sale of goods.
Page 7

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
For the year ended 31 May 2024
1.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, It Is probable
that the transfer of economic benefits will be required in settlement and the amount of each obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including
support costs involved in undertaking each activity. Dirett costs attributable to a single activity are allocated directly to that activity.
Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are
apportioned between those activities on a basis conslstent with the use fo resources.
Costs of raising funds are those incurred in attracting voluntary Income, and those incurred in trading activities that raise funds.
Donations payable are charged in the year when the offer is made except in cases where the offer is conditional, such donations
being recognised as expenditure when the conditions attaching are fulfilled. Donations offered subject to conditions which have
not been met at the year end are noted as a commitment, but not accrued as expenditure.
The Charity is not VAT registered and its expenses are inclusive of VAT which cannot be recovered.
1.7 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After ￿cOgnItion. under the cost model, tangible fixed assets are measured at
cost less accumulated depreciation and any accumulated impairment10sses. All costs incurred to bring a tangible fixed asset into
its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated lives, on a
reducing balance basis.
Depreciation is provided on the following basis..
Fixtures, fittings and equipment- 25% reducing balance
1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. p￿paymentS are valued atthe
amount prepaid net fo any trade discounts due.
1.9 Cash and bank in hand
Cash at bank and in hand includes cash and shorter, highly liquid inve5tmentS Wlth a short maturity of three months or less from
the date of acquisition or opening of the deposit or similar.
1.10 Corporation Tax
Due to the charitable nature of the attivities undertaken the Charity's surpluses are not subject to corporation tax.
Page 8

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
For the year ended 31 May 2024
TRADING INCOME
2024
2023
Trading income- unrestricted funds
86.996
82,026
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Donations received- unrestricted funds
OTHER INCOMING RESOURCES
2024
2023
Job Retention Scheme- unrestricted funds
Small Business Grant- unrestricted funds
Deposit account interest
310
78
310
78
EXPENDITURE ON RAISING FUNDS
(Expenses related to trading activities, all through unrestricted frjnds except as noted below)
2024
2023
Other trading expenditure
Wages and salaries
Pension5
Depreciation of tangible fixed assets
23,576
35.341
1.626
84
20.151
30,180
1,325
112
60,627
51,768
STAFF COSTS
2024
2023
Wages and salaries
Sotial security costs
Other penslon costs
35.341
30,180
1.626
1,325
36,967
31,505
The average number of persons employed by the Charity during the year was a5 follows..
2024
No.
2023
No.
Number of stsff
No employee received remuneration amounting to more than £60,000 in either year.
No trustees received any remuneration, benefits in kind or reimbursement of expenses durlng the current or prior year.
Page 9

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
For the year ended 31 May 2024
GRANTS PAYABLE
2024
2023
Grants payable and associated costs
9,925
4,976
The total grants paid to institutions are for the causes stated below
during the year was as follows..
2024
2023
Bubble Theatre
Surrey Oocks Farm Association
The Docklands Settlements
Time and Talents
Southwark Park Association
ermondsey Artists
Ignite Hubs
The Bosco Centre
1,000
2,000
1,000
2,000
920
1,000
1,000
905
1,976
1.000
9,825
4,976
The grants paid to the various causes are considered to be in line within the Chariws stated objective to support organisations
within the Ancient Parish of Rotherhithe.
GOVERNANCE COST5
Included within costs of raising funds 15 £48012023.. £4801 in respect of the Independent Examiner's Report. There were no tosts
incurred holding Trustees, meetings.
TANGIBLE FIXED ASSETS
Fixtures, fittings and equipment
Cost or valuation
Asat ljune 2023
Additions in year
1,641
A5 at 31 May 2024
1,641
Depreciatlon
As at ljune 2023
Charge for the year
1,306
84
As at 31 May 2024
1,390
Net Book Value
As at 31st May 2024
251
As at31" May 2023
335
Page 10

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIALSTATEMENTS Icontinuedl
For the year ended 31 May 2024
10. DEBTORS
2024
2023
Prepayments and accrued income
Other debtors
780
2.292
780
3,072
780
11. CREDITORS: Amounts falling due within one year
2024
2023
Accrued expenses
1,560
780
1,560
12. STATEMENT OF FUNDS
Movement
in funds
At 1.6.23
At 31.5.24
Unrestricted fund5
General
57,801
16,854
74.655
Restricted funds
Tommy Steele statue
57,801
74,655
Net movement in funds, included in the above are as follow..
Incoming
Resources
Resources
expended
Gains and
Ilossesl
Movement
in funds
Unrestricted funds
General
87,306
170.4521
16,854
Page 11

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
For the year ended 31 May 2024
13. STATEMENT OF FUNDS- PRIOR YEAR
Movement
in funds
At 1.6.22
At 31.5.23
Unrestrirted fund5
General
32,441
25,360
57,801
Restrirted funds
Tommy Steele statue
32,441
25,360
57,801
Net movement in funds, included in the above are as follow..
Incoming
Resources
Resources
expended
Gainsand
Ilossesl
Movement
in funds
Unrestrlcted funds
General
82,104
156,7441
25,360
14. SPLIT OF NET ASSETS
Unrestrirted
funds
2024
Restricted
funds
2024
Total
2024
Tangible fixed assets
Current assets
251
74,404
251
74,404
Total
74,655
74,655
15. SPLIT OF NET ASSETS- PRIOR YEAR
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Tangible fixed assets
Current assets
335
57,466
335
57,466
Total
57,801
57,801
Page 12

ALBION STREET COMMUNITY CHARITY LTD
NOTES TO THE FINANCIAL STATEMENTS Icontinuedl
For the year ended 31 May 2024
16. OPERATING LEASE COMMITMENTS
2024
2023
At 31 May 2024 the Charity hod commitments to make future minimum lease payments Under non-cancellable operating leases
as follows-.
Amounts payable..
Within l year
Between l and 5 years
After 5 years
11,500
40,250
5,100
46,000
5, 750
51.750
63,250
In the year, and as noted in the Tru5tees' Report last year, the Charity has agreed a new 10 year lease on thelr existing premises at
rent of £11,500 per annum from January 2023 with a break clause at the end of year 6.
17. ULTIMATE CONTROLLING PARTY
The charity is run on a day to day basis by the appointed trustees as shown in the Trustees, Report.
18. RELATED PARTIES
There were no transactions with related parties in the current or prior year.
Page 13

ALBION STREET COMMUNITY CHARITY LTD
Detailed Statement of Financial Artivities
for the year ended 31 May 2024
2024
2023
Income from:
Retail trading income
Donation5
lob Retention Scheme
Small Business Grant
Deposit account interest
86.996
82,026
310
78
Total income
87.306
82,104
Expenditure
Dirett costs
Other trading expenditure
Salary costs- total
Depreciation of tangible fixed assets
Independent Examination costs
23,096
36,967
19,671
31,505
112
480
60,627
51, 768
Charitable activities
Grants to institutions
Grant5 to individuals
9,925
4.976
9,925
4,976
Total expenditure
70,452
56,744
Net income I lexpenditurel
16,854
25.360
Thi5 page does notform part of the 5tatutoryfin¢incial 5tatement5
Page 14