HONOR OAK COMMUNITY ASSOCIATION ANNUAL REPORT WITH FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHARITY REGISTERED NUMBER 1160442 LONDON ACCOUNTANCY PRACTICE SOJOURNER TRUTH CENTRE 161 SUMNER ROAD LONDON SE15 6JL
HONOR OAK COMMUNITY ASSOCIATION FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page Contents Administrative Information Report of the Trustees 4-10 Independent Examiner's Report Statement of Financial Activities 12 Balance Sheet 13 Notes to the Accounts 14-15 Detailed Income & Expenditure 16
HONOR OAK COMMUNITY ASSOCIATION ADMINISTRATIVE INFORMATION AS AT 31 MARCH 2024 Trustees Cllr Joan Millbank,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Chair Damali Bah Secretary Wonyo Setufe.................................................................. Treasurer BevAmmon.......................................................... Trustee Damian Griffiths........................................... . Trustee Neil Poppmacher . Trustee Yvonne Peart....................................................... Trustee .1160442 FORMAL ADDRESS 50 Turnham Road London SE4 2JD BANKERS Natwest Bank PIC Catford Branch 159 Rushey Green London SE6 4BJ INDEPENDENT EXAMINER London Accountancy Practice Sojourner Truth Centre 161 Sumner Road London SE15 6JL
Honor Oak Community Association Report of the Trustees For The Year Ended 31st March 2024 Strurture, Governance and Management Honor Oak Community Association registered to become a charitable incorporated organisation th (CIO) on 11 February 2015 and is governed by its constitution. The CIO was established under a constitution which defines the objects and power of the charitable organisation and is governed by such. The trustees who serrfed during the year ending 31st March 2023 were. Cllr Joan Millbank, Damali Bah, Yvonne Peart, Wonyo Setufe, Damian Griffith5, Bev Ammon, Neil Poppmacher. Charltable Objectives Our Objectives, as stated in our Constitution are to.. 3.1 promote the benefit of the inhabitants of the area of benefit without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions, by associating tO8ether 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; 3.2 establish, or secure the establishment of, a Communlty 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; 3.3 promote such other charitable purposes as may from time to time be determined. Trustees Trustees are elected from the membership. Elections for membership Trustees will be held at HOCA'S Annual General Meeting. Only members of HOCA can vote in these elections. The number of trustees that can be appointed is limited to 12. Trustees understand that they must ensure that all of the Association's human resources, financial.resources and assets must be used to achieve HOCA charitable objects which are stated above.
Trustee Induction and Training All Trustees are issued with a copy of our governing document and receive regular financial performance information quarterly at Trustee meetings. Trustees are encouraged to attend appropriate external training events which will help in the undertaking of their role. The trustee training and induction policy provides them with information in regard to their legal obligations and the expectations of the roles of trustees and honorary roles. Payments to Trustees None of the Trustees received remuneration or other benefit from their work with the CIO. Membership The Association wish to encourage more of the local community to join HOCA as members. From HOCA Constitution {governing document) Membership shall be open, irrespective of sex, sexual orientation, age, disability, race, nationality, political, religious or other opin ions to: 9.1.1 individuals aged 18 and above: 9.1.1,I who live within the area of benefit, who shall be known as full members; 9.1.1.2 who live outside the area of benefit, who shall be known as associate members. 9.1.2 individuals under the age of eighteen years, whether living within or outside the area of benefit, who shall be known as junior members; 9.1.3 associations and organisations, whether corporate or unincorporated, (and including branches of national or international organisations) which operate solely or in part within the area of benefit, are voluntary or non-profit-distributing and which wish to support the Objects, which shall be known as affiliated members; 9.1.4 statutory authorities in whose administrative area the area of benefit lies which shall be known as statutory authority members. Aims HOCA aims to manage a Community Centre that provides facilities for recreational, sporting and social well-being for the local community, including providing space to.
Enable and empower older people to have a safe, healthy and enjoyable quality of life by reducing the risk of isolation and loneliness in older people, resulting in improved mental and general health and wellbeing for the individual. Increase opportunities for recreation and learning and provide facilities for children and families to develop the confidence and skills required to reach their full potential whilst gaining positive social and personal skills. Enable people to be better informed about issues that affect them and able to take actions to improve their lives through access to information, advice and guidance. Objectives Run an accessible community centre for all ages and abilitie5 Ensure a diverse range of User Groups Encourage and enable local people to take an active part in the Management, delivery and development of all sen4ice delivery, development and evaluation. Improve access to information about the centre's facilities by working with the current service users and local community to develop marketin8 and promotion materials and activities Organise and promote community, family and cultural events that encourage excellence, parent/child relationships, creative expression and community cohesion Publlc Benefit The Trustees are aware of charity law requirement to demonstrate public benefit and take the Charity Commission's Public Benefit guidance into account when making decisions for HOCA. Artlvlties wlthln the year April 2023- March 2024 The building is owned by LB Lewisham, and the community centre side is run day-to-day by HOCA trustees under a premises management agreement. Within this a8reement LB Lewisham has responsibility to maintain the main fabric of the building and health and safety requirements, while HOCA trustees pursue day-to-day repairs and minor improvements in line with responsibilities set out in the agreement. Trustees are also responsible for ensuring policies and procedures are in place to ensure the safe and secure running of the community centre, and appropriate community use. In the year the trustees: Learned that Lewisham Council had secured funds from the Central Government's Decarbonisation Fund to retrofit the buildin8 including the community centre. This will include solar pane5s, a ground source heat pumps, new windows and external doors. These measures will greatly increase the energy efficiency of the building as well as give the building a much-needed makeover. A redecoration plan will follow and as generated fynds allow. Developed a building maintenance plan to carry out essential repairs and improvements within the building. In the year a new external covered bin store was built to contain the enormous amount of rubbish generated primarily from weekend hire of the large hall, prior to collection by the council's refuse service. The bin store looks great, and we must
say a big 'thank you, to the builder that undertook the work. The garden room was painted and 50 chairs repaired, saving money on replacement. Continued discussions with Lewisham Council Energy Team on the allocation of the gas and electricity bills (shared with the adjoining Youth Centre), which have increased significantly in line with general energy price rises. The Council took back payment responsibility and will recharge HOCA for our proportion of the charges. Drafted a bid to the Met Police Youth and Community Centre Security Fund, which if successful would provide a new entry system including two door-controlled entry system, with an internal lobby and recorded video facility. This would 8reatly improve building security and the personal safety of staff, centre users and volunteers (postscript: The application was successfull Following extensive design work by the MET Police Design Out Crime officer, the system was fitted into both the Community Centre and the Youth Centre next door later in 2024). Big thanks go to Sgt Roger Knight from Telegraph Hill Safer Neighbourhood Team for telling us about this fund and supporting the application. Learned that the adjoining Youth Centre would be developed by Lewisham Council into Family Hub, providing a range of support to children, young people and the parents/ carers. Discussions have started on how the two sides of the building (HOCA and Family Hub) work collaboratively to meet the needs of residents living locally. Reviewed and developed internal procedures to ensure that the organisation remained legal, solvent, effective and in touch with local needs. QuickBooks was installed to provide a more streamline inhouse way of financial management. Policies were reviewed and upgraded including children and adult safeguarding and dealing with complaints, while the Centre's income and expenditure budget was checked through quarterly management accounts. Continued to join in with the Honor Oak Estate Stakeholder Network, which supports collaborative work amongst the various local groups and agencies providing services and activities to local residents. HOCA continued to host these rneetings 6 times per year. In October we also hosted and took part in a Saturday Community Consultation Day. 15 groups and organisations took part including Lewisham Homes, Met Police, Horniman Museum, Youth First and Chelwood. Local residents came along to find out about local services and to tell groups what would be useful to do going forward. Their children enjoyed the bouncy castle and various craft activities. Joined in with the Christmas Tree Lighting event in December 2023. This was a great success with John Morgan, Chair of Honor Oak Estate Tenants Association taking on the role of Father Christmas, and handing out little goodies to local children as they made Christmas Wishes which were then hung on the tree. In the year we had great pleasure in hosting the Black History Month celebration undertaken by Christina and her 60 Up older persons, group. We also gave free use of the Centre on Christmas Day to The Love Fellowship. They provided a free hot dinner and a welcoming place to be for over 120 local people; they also took food round to 80 others unable to attend in person. What a fantastic gesture of goodwill by their volunteers who sourced, prepared and
served the food. Thanks too go to our fantastic staff who volunteered their time to ensure that the hall was open, clean and ready for use on December 25 As always, things happen because of the time and effort put in by people. A big'thank you, goes once again to our small team of part-time staff who have kept things going with their hard work and good humour. Thanks also go to the trustees who provide the necessary governance and take overall responsibility for the charitable organisation. Lastly, a big 'thank vou and well done, to the growing band of user groups who run a range of community-based activities and services from the community centre to benefit the local community. These are: Weekly Daytlme {at December 2024): Love Fellowship Lunch and Soclal Club {Tuesday) Seated Exercise (Tuesday) Baby Bounce (Wednesday) Well Woman Group (Thursday) Chatterbox playgroup (Friday) LWCC Church {Sundayl Weekly Evenlng (at December 2024): Yoga Classes {Monday) Empower Skating Adults {Monday and Thursday) Love 2 Dance {Tuesday} Empower Skating Chlldren {Wednesday} Food Bank LWCC (Wednesday) Honor Oak Badmlnton Eroup (Wednesday) Ladies Badminton (Wednesday) Tae Kwon Do (Thursdav) HOCA continued to hire out the Centre to be used for once off or occasional events and celebrations on Fridays and Saturdays. Community members can use the large hall and sep4ing area at a reasonable and affordable charge, which in turn provides essential funds to keep the community centre going. HOCA received no grants for running costs in the year.
HONOR OAK COMMUNITY ASSOCIATION MANAGEMENT COMMITTEE REPORT FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The results of the year's operation are set out in the attached financial statements. The net movement in funds for the year amounted to deficit of (£9,680) in 2024 respectively. The retained reserves as at 31 st March 2024 amounted to £25,128. RESERVE POLICY The Charity Commission requires charities to determine and explain their policy for free reserves. The trustees have reviewed the organisation's free reserves policy and have turned its entire unrestricted fund into an emergency resepde to enable Honor Oak Community Association to meet its obligations in the event of a shortfall in income or sudden uptum in expenditure. RISK MANAGEMENT The trustees have examined the major risks which Honor Oak Community Association faces and believe that maintaining their free reserves at a reasonable level, combined with their annual review of the controls over key financial systems will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks. TANGIBLE FIXED ASSETS The organisation has no fixed assets FUNDS AVAILABLE The present level of funding is adequate to support the continuation of the charity operations for the medium term, and the trustees consider the financial position of the charity to be satisfactory. VOLUNTEERS HONOR OAK COMMUNITY ASSOCIATION recognises the significant contributions made by the volunteers including the trustees.
HONOR OAK COMMUNITY ASSOCIATION STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are required to prepare financial statements which give a true and fair view of the state of affairs of the project and of the income and expenditure of the project for that period. In preparing these financial statements, the management committee are required to.. select suitable accounting policies and apply them consistently; make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going conrn basis unless it is inappropriate to presume that the project will continue in operation. The Trustees are responsible for keeping proper records which disclose at any time the financial position of the project. They are also responsible for safeguarding the assets of the organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. io
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HONOR OAK COMMUNITY CENTRE ASSOCIATION ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 WHICH ARE SET OUT ON PAGES 12-16. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 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 section 145(5)(b) of the 2011 Act., and to state whether particular matters have come to my attention. Basis of independent examinerf8 report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's report In connection with my examination, no matter has come to my attention: which gives me reasonable cause to believe that in any material respect.. The accounting records were not kept in accordance with the section 130 of the Charities Act; or The accounts did not accord with the accounting records. or The accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account give a 'true and fair, which is not a matter a matter considered as part of the independent examination. I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of this account to be reached. Signed. A Adebambo, MBA, ACMA, ACG, For London Accountancy Practi. Sojourner Truth Community Centre 161 Sumner Road London SE15 6JL li
HONOR OAK COMMUNITY ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Regtricted Fund Fund Total 2024 Totsi 2023 Incoming Resources Legacies Grant & Donations Income from charitable activities Bank Inleresi 59.151 555 59.151 555 64.000 161 Total Incom• 59,705 59,705 64,161 Costs of g•n•ratlng funds: Charitable actlvlties 69 385 69,385 73.567 Total Exp•ndltur• 69,385 69,385 73,667 Net IncomSng Rosources I (Deficit) 19.680) { 9.680) 19.405) 8alan¢•s brought forward 34.808 34 808 44,213 Balan¢•s carrled lorward 25,128 25,128 34,808 12
HONOR OAK COMMUNITY ASSOCIAnON BALANCE SHEET AS AT31 MARCH 2024 2024 2023 FIXED ASSETS CURRENT ASSETS Deb1015 Cash al Bank Cash ai Hand 41745 50.553 41,745 50.553 CURRENTLIABILlnES Creditors and Accruals 1ti 617 25 128 34 808 25.128 34,808 REPRESENTED BY.. FUNDS: Un¥esiricted Reslricled 25.128 34 808 26.128 34,808 Approved by the BoaTd ol Iruslees on ,...... arwj signed on Ils behaff by 7Y tf* 202f Sign Cllr J Chair Sign Damien Griffith5 Treasurer 13
HONOR OAK COMMUNITY ASSOCIATION NOTES TO THE ACCOUNTS 1. ACCOUNTING POLICIES Basis of Preparation of Financial Statements The financial statements are prepared under the historic cost convention and include the results of the charity's operations which are described in the Management Committee's Report and all of which are continuing. The accounts have been prepared in accordance with the Statements of Recommended Practice for charity accounts. The charity has taken advantage of the exemption of Financial Reporting Standard No 1 from the requirements to produce a cash flow statement on the grounds that it qualifies as a small charity 1.2 Incomlng Resources 1.2.1 Revenue grants are credited to the Statement of Financial Activities on the earlier date of when they are received or when they are receivable, unless they relate to a specific future period, in which case they are included on the Balance Sheet as deferred income to be recognised in the future accounting period. 1.2.2 Grants received for specific purposes are accounted for as restricted funds in the Statement of Financial Activities. 1.3 Re8tricted Funds Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with fair allocation of management and support costs. 1 .4 Unrestricted Funds Unrestricted funds are donations and other incomes received or generated for the objects of the organisation without further specified purpose and are available for general funds. 1.5 Deslgnated Funds Designated funds are unrestricted funds earmarked by the Management Committee for particular purposes. 1.6 Tangible Fixed Assets All expenditure that related to equipment has been charged to the Statement of Financial Activities in the year of acquisition. A register of assets is maintained. 14
HONOR OAK COMMUNITY ASSOCIATION NOTES TO THE ACCOUNTS (CONTINUED) CREDITORS AND ACCRUALS 2024 2023 Accountancy fees Hall Deposit GaslElect Provision TaxlNII Pensions 1,400 2,100 7,000 1,400 1,153 2,500 DETAILED INCOME FOR THE YEAR ENDED 31 MARCH 2024 Unr•3tri¢ted Restricted Fund Fund Total 2024 Total 2023 INCOMING RESQURCES Legacies. Grant & Donatlons Hall Hire: Comniunstv Hire User Group Hire Inveslment Income: Bank Interest Total Income 52.335 6,816 52.335 6816 58.912 5088 1bl 64,161 S9,70S 59,705 a. Business Rates were nil because of 80 % charity mandatory relief and 20% discretionary relief from Lewisham Council was applied in the year. b. Light and Heat - still awaiting recharge bill from Lewisham Council. estimate of £8,000 which is probably too low. c. Trade Waste - nil as Lewisham Council offers a free service. d. Building Improvements - includes cost of replacement external bin chamber plus other small bins. Deep- Clean - action deferred therefore no cost incurred. 15
HONOR OAK COMMUNI ASSOCIA TION DETAILED EXPENDITURE FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted R•$tricted Fund Fund Total 2024 Total 2023 EXPENDITURE Salaiies Tax,'National Insurancel pensions Legal Athce Musiowebsile Licences Telephone Gas & Electricity Refundable Deposits Ulility-walei CanInsanllaI10n Insurance Pavroll & Bookkeeping Accounlancv Fees (Professional Fees) Alarm Svslem Printing, Postage & Slalionery Repaiis. Maintenance Office AdrTiin expenses Total Expenditure 36.383 4.905 36.819 5.131 540 435 1.131 4500 14,904 4,905 74 74 1.546 10.700 235 1.912 1 102 1716 1.400 279 198 8.128 808 69,386 10,700 235 1.912 1,102 1.716 1.400 279 198 8.128 808 69,385 1,712 1.059 2.058 1.400 244 347 2.059 1227 73,667 16