REGISTERED COMPANY NLMBER: 09276749 {En¥laDd *Dd W*ks) REGisfERED CHARITY NUMBER: 1161812 REPORT OF THE TRusfEES AND YINAIYCIAL ￿ATEmENTs FOR THE YEAR ENDED 31 DECEMBER 2023 FOR STONEGROVF, CO.MMUNrrY TRusr {A COMPANY LIMITED BY GUARANTEE) Presto￿$ & Jacksons Parnier5hip LLP 364- 368 Cranbrook Road Ilford Essex IG2 6HY STONEGROVE commuN￿y TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ge Rtf¢ttn¢e #nd Admini8tr•tiv¢ Detal I to 2 Ch*irni*n'i R¢prt Report of tbt TNs¢ees Independegt Eumiller's Report 10 ststement of FiDallel*l Aetfvltles B#knD¢e Sheet 12 to 13 oits ¢0 the Ftianehll S¢•temeDts 14 to 21 Delllled St*temeDt of Flnimcknl Actfvttle8 22 to 23 STONEGROVE COMMUNrrY TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR EVDED 31 DECEMBER 2023 Trwsle¢5, who are also Directors under company14w. who seTved during the year of these accounts and up lo the dat¢ of this report were follows: Graem¢ Davidson - Chair Burhan Barlas- Treasurer {appoiTrt￿ 9th October 2023) Gilad Yehuda Limor Rev. Simon Rea D¢ena Monica Kusi Lucy Wakeley Dipika Talma (appointed 2nd Scptember 2023) Luke Levine (appointed 17th tk¢¢mber 2023) Jeremy Daudin (appointed 23rd June 2023) Olutomiwa Oke (appointed 20th Jun¢ 2023. resigned 6th February 2025} Daniel Goodman {r¢si8ned 31st December 2023) In8rid Be&1 (resigned 3 1st De¢¢mber 2023) Shad¢¢n Lawrence (appointed 9th July 2023. r¢sigttd 213t February 2024) Ubah Ahmed (appointed 7th May 2023. resI￿ed 24th Aug￿ 2023) David Ba￿ (resigned 14ih March 2023) Sarah Wardle (resigned 30th January 2023) Melisa Mamalov Mcknuff (res1￿cd 24th May 2023) Marina Damyanovska (resi8n¢d I lth M4y 2023) Leena Mald¢ (appointed I 51 April 2025) Compilly Secretary Chlef Ei¢¢utlve Offl¢er Gus Alslon Trustee recrnltmeDt (hjr Memorandum ond Articles stat¢s that we must CO￿81der the following rulesl8uidance when selecting T￿￿teeS.. l) Range of skills across the board as a whole. 2) Board representative of the diversity of the area of benefit. J) Resident Tr￿leeS can be appoinl¢d for iwo ternis of three years ea¢l4 after which they must step down for t le&st a year befor¢ seeking re-appointmenl. 4) Totsl maximum numbers for th¢ Trustee board are 13. consisting of: a) Seven resident Trustees. b) Three stakeholder appointed TnLStee& c) Thr¢¢ c(wt¢d Trustees. 5) There are spaces for three stskeholder app)int¢d Trustee5. Onc eath will be appointed from: a) St Peter's Church. b) Barnet Council. c) Peabody. CuTr¢ntly the T￿￿te¢ board consists of ten Tn￿lee$. Five resident Trustees. two stakeholder appointed, and thrtt C￿OPted. We currently have space for one Resident TnLStee. W¢ hav¢ no P¢ab(Kly S￿kehOlder Trustee at present, as Peabody do not wish to noMin￿e anyone to our boaTd to represent them. Page I STONEGROVE COMMuNrrY TRUST REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2023 Prineipal staff (TUS Alston- CEO. REGisfERED OFFICK Onestonegrove 5 Hayling Way FAlgwaTe HA8 8BN REGI￿ERED COMPANY NUMBER 09276749 IEngland and Wales) REGisfERED CHARITY 1161812 INDEPEND￿ EXAMINER Prestons & Jacksons Parthership LLP 364- 368 Cranbrook Road Ilford Essex IG2 6HY BANKERS Cwerative bank p.l.c. P.O.Box 101 l Balloon Street Manchester M60 4EP Page 2 STONEGROVE COMMUMTY TRUST FOR THE YEAR ENDED 31 DECEMBER 2023 A Year ofv￿rant Growlb and Comrnunity EM￿h￿erment Ikar Friends and SUp￿￿r3, It is with immense pride and optimism that I present this rel￿ on the remarkable achievements of our charity in 2023. This ye4T been a teslamenl to our unwavering commithient to ser4in8 the Ed8w4re community and empowering Its residents to drive positive chang¢. We have wilnessed a year of vibrant growl￿ maTk¢d by the expansion of our dedicated iewn. the launch of innoYativ¢ projects, and the strengthening of OUT existing initiatives. Our commitment io fostering a collaborative And supportive environment h&$ enabled us io reach new heights, ensuring that we continue lo serve our ¢ommunity to the best of OUT abiIities. The Onesionegrove C¢ntre has flourished as a hub of activity and connection. Under the ¢apabl¢ leadership of Adam Hartley. we have seen significant improvements An our Oper￿lon41 SyS*ms and revenue g¢n¢ration. allowing us lo expand our community WOTk and welcome more individuals through our doors. Despite the challenging economic climale, the Centrc's value lo our local community has never been more evident, serving as a vitsl resour¢e and a beacon of hope. Our community organising efforts have been particularty impactful this year. We have bro8dened our reach and deepened our engagemenl with local residents. empowering them lo ¢ak¢ Ihe lead in Creating positive social Change. Supporting grassroots iniliatives like Save (kn Edgwar¢, we have witnessed the transfomialive power of collective action. Our Community Organiser continues to be the heart of our operations, fostering connections ar￿ driving prwess across all our projects. Looking 4h¢ad, we are filled with enthusiasm and deterniinaiion. We will continue to build on the strong foundations we have laid, exploring new opportunities to serve our community and amplify its voice. Our commitm¢nl lo innovation. collaborntioN and empowemknl remains skadfast. l extend my heartfelt gratttud¢ lo our dedicaied S￿ff, intstees. volunteers and supporters. Yc*ur unwavering commitment gnd passion are ihe driving force behind our Su￿$. Togeiher. we are making a t￿)gible diffeTenc¢ in the lives ofthose we serve. and l am ￿nfident that the future holds even 8reater achievements. Thank you for yow ¢oniinued support. Sincer¢ly* Gr*eme DIVId￿tt Chair of Trust¢¢s Page 3 STONKGROVE com￿lu1¥[ry TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trust¢¢s who are also directOTS of the charity for the puT￿SeS of the Companies Ad 2(K16, pres¢nt their report with ihe financi￿ statements of the charity for the year ¢nded 31 December 2023. The trustees have adopted the provisions of Accounting and Rep)rlin8 by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accord￿ with th¢ Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019}. OBJECTIVES AND AcfiviTIES ObJ¢¢tivu •nd Aetivities The COmpan￿S objects are spuificauy restri¢t¢d to the following: To fi￿her or benefit the Tesidenis of the Area of BenefiL without distinction of sexual orientation. race, or of politi¢al. religious or other opinions by asso¢iating together the said residents and th¢ lo¢al authorities, voluntary and other organisations in a common effort lo advance education and to provide facilities in the interests of social welfare for recreation and leisure time ￿cuPation with the objectiv¢ of improving the ¢onditions of life for the residenls. In furtherance of ihese obj¢¢ts but not otherwise. the Directors shall have the power to establish or secure the estsblishm¢nt of a communily centre and to maintain or manage or c4)wopernte with any statutory authoriry in the rnaintenan¢e and manogem¢nl of such a cenire for activities promoled by ihe Company in furtherance of the above Objects. Publle BeDell¢ The trustees confirmed Ihey hav¢ had regard to ihe Charity Commissions guide on public benefit. To further or benefit the residents of the Area of Benefil Withoul distinction of Sex, sexual OTiettiation, race or of political, religious or other opinions by associatin8 together the said residents and ih¢ local authorities. voluntary and other organisations in a common effort to advance ¢du¢ation and to provide facilities in the ini¢r¢sls of social welfare for recreation and leisure time occupation with the objectiv¢ of improving the condilions of life for ihe ￿SIdents. Page 4 STONEGROVE COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 ACHIEVEME￿ AND PERFORMANCE 2023- Report on the year 2023 onother year of growth for our charity. across our differ¢nl a¢tivitie5 and seTvice5. We continued to grow the size and strength of our adding lo our sthff tram. trustre and volunteers. We started projects. strengthened existing ones. and Continued to fo¢￿$ on the development of our t¢ ensurin8 th&t w¢ all took time to TeflecL learn and develop in our roles $0 that we can Serve the local communiry to th¢ besr of our abilities. We continued to dev¢lop our approa¢hes and praclice5 around community organising and asset-based comtnunity development. We continue to e￿oUr8ge residents w take the lead and be the prolagonists in bringing abou¢ positive social change. OneSeoDtyrove eentre In 2023 we continued io grow the impac( scope of aCiivitie5 and the repulation of the OneSwnegrov¢ ¢enlre ocally. Our Owations Manager Adam Hartlry who joined in Autumn 2022 continued to develop our syslems• proces$¢s and also the revenU￿reall￿g parts of our centre operations. Again we increased our income OV¢T Ik pr￿eding year, and again we did this whilst also increasing the nwnber of hours OT community Work within the centre. Th¢ wider financial reality h&8 continued to be chAllengin& Costs have remained high, and often we cannot pass these in full onto our hiring as they are often dso struggling. Despite the ¢hallen8es the Onestonegrove ¢entre is more valued and used by our lotal tommunity than it has ever been before. Soelal Aetion Hub & Commullity Ory•DisiDg We hy¢ ¢ontinued in 2023 10 work with lo￿1 residents to create n¢w acuvities. events and services. We sp￿ad the geographical nel a little wider than in previous year& and a150 increL8ed our focus on working with newly ¢s¢ablished local ￿npaIgnIng groups such &$ Save Edgware. W¢ re¢ognise the impact we can create by supporting these groups in very simple woys, such as thTough free space provision, and by introducing them lo others and helpin8 to expand their networks. The Community Or8anising work feeds through into everythtng else that we do. our Community Organis¢r is really the main fxe of ihe centr¢. and the link-person between our various team members, partners projects. Chlldra? young people & families Th¢ Iwo youih clubs in Onestonegrove continued to in¢r¢￿e their numbers and impact thToughout 2023, with a totsl of O sessions * week running over 4 nights. Early years sessiorLS continu¢ to be delivered by St Peiefs Church and Barnet Council. both using the Wilberforce Hall in Onestonegrove. Both are preny much filll lo capacty at all times. Page 5 STONEGROVE COMmU￿V TRUST REPORT OF THE TRUSTEES FOR THE YEAR EIVDED 31 DECEMBER 2023 The Free Play project Continued. with a young local ￿Sident taktng over the manwent of ihe project. It ontinues to provide engaging and frtt play4i&sed activitie5 for local children. We are proud to Say that all of these sessi(w r¢nuin completely free io access. For that we thank our amazing funders. listed later in this report. Old¢r Peopl¢ Our amazing old¢r people's coordinator has continued to develop thc project and to build the groups of attendees. Throughout 2023 we ran a range of aciiviiies such as our Thursday social ¢lub, Low impact ¢x¢rcise and Bollywood dancing. We were unable to attract a larger grant to funher ext¢nd the worl &8 we PTioriiised applying for th¢ City Bridge Tnts¢ for our solar panel array. More on that later! Our s(xial club had 860 attendances in 2023, and we ¢onlinu¢d io deliveT sever81 other sessions every week. As the group ha5 grown and d¢v¢loped they now also offeT ehch other hug¢ amounts of friendship and peer-support. including outside of our struciured sessions. EnviroDmellt*l Sugt*l•*bility In 2023 we submitted the fmai grant applicaiion for our solar panel installation. In early 2024 w¢ received confirniation that this had been su¢¢essful, And we received £39,01)O from the Ciiy Bridge Trust. As we write this report, we now on the roof of the Onesionegrove ¢¢ntr¢ have th¢ largest charity-owned solar panel array in London! This is making an enomiow contribution io both our environmental and our finan¢ial su$tain&bility. and will continue to do so for the next 30 y¢ars. We launched a r¢cyclin8 project within the On¢Stonegrove centre. This allows residents and centre users lo recycle various ilerns thal they would otherwise throw away. or would have to visit the lo¢a] ￿ryclIng centre. Curr¢ntly we accept small appliances dental ilems, printer canridges and batteries. We hope lo continue to develop this lowpli¢abl¢ to the ¢hthTitable Company. The￿ finanGiAI statem¢nts have been Pr¢par￿ ID ttccordnnco with the PrnViSiOD8 applicable to chgritabl ¢ompAiiies subject to the Small companie5 regim The fmall¢ial statemonts Ymere apwoved by the Boerd of Tn￿ authori6ed frir is8￿ on .23..A4J.2vaS.......... and vnyt St￿¢d on its behalf by.. Trustee ii)iYocEar • Page 13 STONEGROVE COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTINC POLICIES Basis of prepari￿ the fim*D¢i*l st*ttrnepts The financial stalem¢nts of th¢ charitable compony. which is a public benefft entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102)'Acc4)unting and ReN)rting by Charities: Statement of Recommended Practice applicable to charilies PTepaTing their a¢¢ounls in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Jreland (FRS 102) {eff¢ctive l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republi¢ of lffland, and the Companies A¢t 2006. Th¢ fjnancial 51alemenlS have been prepared under the historical cost conventi¢xL In¢om¢ All in¢ome is recognised in the Siatement of Financial A¢tivitivJ on¢e the charity has entitIement to the funds it is probable that the income will be received and the amount w be mwured reliably. This include rental income. leased income. Community Tn￿ D¢ed inconje and other inco]nes. All incomes are on a ￿ti¥&b]e basis. EipeDdlture Liabilities are recognised &8 expeTh4iture as soon &s there is a legai or wnstructive obligalion ommitting ihe cknrity to that ¢xp¢ndi¢ure. il is probable that a transfer of economic benefits will be required in settlement and the amount of the obliwion Can be measured reliably. Expenditure is accounted for on an accruals b￿lS and been cl&ssified under headings that aggregate all cost related to ihe category. Where costs cannot bv diT¢¢ily attributed io particular headin8s they have been allocated to activities on a basis ¢onsislenl with the use of Tesource& Tanglble fixed *$$tts Depreciation is provided at the following annuaj rale$ in Order to write off over its estimated useful lif¢. Freehold proiKrty Fixtures and fittings 33% on r¢ducin8 bal￿¢¢ L4nd is not depreciAied. Tangible fixed &8sets are stated at histori¢al to￿ less accumulated depTe¢ialion and any accumulaled impairn)eni losses. Hislorical cost Includ￿ expenditure that is dire¢ily attributsble to bringing the 8S5et lo the Iocaiion and Condition necessary for it to be capable of operating in the rnannw intended by ma￿geMent T•iatlon The charity is exempt from corporntiOD tax on its chariiable activities. Fulld iccounting Unrestricte41 funds can be used in a¢￿)rdance with the charitable objectives at i]K dixr¢tion of th¢ trustees. Sinking Fund is maintsined for major repairs of. or impTovements to the buildiD& Restricted funds can only be used for particular restrirt¢d pUrp(￿S within the objects of the charity. Restrictions ￿lse when specified by the donor or when ar¢ rais￿ for particular Testricted purposes. Page 14 continued... STONEGROVE COMMUNITY TRUST OTES TO THE FINANCIAL STATEMENTS . continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - continued Fund aceountimg Further explanation of th¢ nature and pu4￿se of cath fund is included in the notes to the fmancial statements. DONATIONS AND LEGACIES 31.12.23 31.12.22 Grants 219270 154.394 Grants rettived. in¢l￿ed in the above. are as follows: 31.12.23 31.12.22 Peabody Community Fund The National Lottery Community Fund John Lyons ChaTiIy Garfield Weston Foundation Barnei Council GLA London Communiry Eneryv Fund Morris B¢nefi¢¢nl Charily Young Bfirn￿ Found•tion Arnold Clark Charity FUSE - Final installment of granl lo ¢ov¢r Nudel Kart purchfise GTeater London Authority Groundworks UK Jack Pelchey Foundation M&S GiftAn8 Grants Shanly FOUnd￿10n Spa¢ehive- Restricled Crowdfimding for defb W G Edwarts Charitsbl¢ Found#tion- Tea & Tech Sessions Charl¢$ Hayward Foundation City Bridge Foundation Jubilee Foundation New London Architectyre Lid Asda Foundation The Morrisons Foundation The Warburtons Foundation 23,593 47,192 32,817 211,000 3J40 1,000 25,000 16J44 17,901 55,376 28.900 2.801 7246 27.815 1,000 1,5iXI 2311 1,0 9W 1.000 1.000 1.655 1.500 4,800 3J80 25,000 I￿98 7995 3,000 219370 154.394 Page 15 continued... STONEGROVE COMMUNITY TRUST NOTES TO THE FJNANCIAL ￿ATEMENTs- continued FOR THE YEAR E￿,DED 31 DECEMBER 2023 OTHER CHARITABLE INCOME 31.1223 31.12.22 Community Trnst Deed Lease Rent Service Charge Community Centre Management Individual Giving 50,000 151917 22.466 3031 8,194 50,000 121,162 14.657 4.112 3.731 236,408 193.662 NET INCOMEI(EXPENDITURE) Net in¢omel(exp¢nditUT¢) 1$ stated after charging(crediting): 31.12.23 31.12.22 Depreciation- own¢d ass¢tS Indewident Exomincrs Ftts 21963 2,400 20,095 2.400 TRUSTEES, REMUNERATION AND BENEFTrs There were no trust¢¢5' r¢muneration or other bencfits foT th¢ yeAr ¢Trled 31 De¢ember 2023 nor for the year ended 31 December 2022. Trn$t¢u' expem8eB There were no truslees, expenses paid for ihc year end￿ 31 D¢¢ember 2023 noT for the year ended 31 December 2022. COMPARATIVES FOR THE STATEMENf OF FINANcL￿ AcfiviTIFS 31 DECEMBER 2022 Unrestricted Rcstrict¢d funds fund Total fimds INCOME FROM Donations and le￿ie$ 154J94 154.394 Other Charitable Income 189.931 3.731 193.662 Tot•1 189.931 158,125 348.056 EXPENDITURK O Charltable *ctlvltleJ Communiry Centre Managem¢nl Support Costs 210,076 26.829 160.748 10,183 370,824 37.012 Tot•l 236,905 170,931 407.836 Page 16 continued... STOIYEGROVE COMhtUNITY TRUST NOTES TO THE FINANCIAL STATEMENfs . eoDtlnued FOR THE YEAR ENDED 31 DECEMBER 2023 COMPARATIVLS FOR THE STATEME￿ OF FINANCIAL ACTivrriLs 31 DECEMBER 2022 - Continued Unrestricted Restricted fund Totsl fimds NET II¥COMFJ(EXPENDITURE) {46.974) (12.806) (59.780) RECONCILIATION OF FiJY4DS Total funds brought forward 2.117259 39,933 2,157.192 TOTAL FUI¥DS CARIUED FORWARD 2,070,285 27.127 2.097.412 KEY PERSONNEL MANAGEMENT Key Personnel ManaBement compris¢s ofthe Board 0fTn￿ees. TAIYGIBLE FIXED ASSETS Fixturc5 and fittings Fr¢¢hold property Tots15 COST At l January 2023 and 31 December 2023 2.100,000 150,788 2250,788 DEPRECIATION At l January 2023 Charge for year 140,000 20.000 144,994 1,963 284,994 21,963 At 31 tk¢¢mbeT 21r23 160,000 146,957 306,957 BOOK VALUE At 31 December 2023 1,940,ODD 3WI 1943.831 At 31 December 2022 1,960,000 5.794 1.965.794 The freehold ofthe land and building is held by the London Borough of Barnet. In 2016 a Iwe for 999 year lease ￿anted to the London DI￿ese of the Church of England. and an underlease of 998 years wa5 granieAJ to the Slonegrove Community TnLSt. representing 50•/• b¢nefi¢ial usage. The share of the Community Centre for the chariry was valued at £2.1 million of the totsl value of the land and buildin& L4rMI and l)uildings were measuTed at fair valu Pag¢ 17 continucd... STONEGROVE COMMUNITY TRUST NOTES TO THE FINLYCIAL STATEMENTS - toknlinned FOR THE YEAR EIYDED 31 DECEMBER 2023 DEBTORS: Amouwfs FALLiNG DUE wTfHIN ONE YEAR 31.12.23 31.12.22 Trade debtors Other debtors Prepayments and a¢¢n￿d In￿rne 52.845 6,886 5,046 51,184 5,233 4.859 64,777 61.276 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Trade creditors Oiher creditors Accruals and def¢Tred income Accrued expenses 2,602 10,982 13.607 5.177 2.083 317 2,400 15.984 21,184 11. ANALYSIS OF GENERAL RESERVLS Genwai ReserYe3 as ￿ 31 December 2023 consi510f: 3111V23 31112122 Fixed As5ei$ R¢serves Free General Reserves Sinking Fund 1,940,000 101,472 13286 1.980.OtK) 96.999 13.286 Total General Reserves 2,070385 Page 18 continued... STONEGROVE COMMuNrfY TRUST NOTES TO THE FINANCIAL STATEMENfs . ¢ontinued FOR THE YEAR EliDED 31 DECEMBER 2023 J2. MOVKMEI¥T IN FUNDS Net movement in fun(ts At 31112123 At 111123 Unrestrieted fllD General fund Sinking fund 2,(156,999 13386 (15,527) 2.041.472 13286 2.070385 (15,527) 1054,758 Reitriettd fllod8 Restricted Funds 27,127 (17,819) 9J08 TOTAL FUNDS 2,097812 (33J46) 2,064.066 Nel movement in funds, included in the al)ove are as follows: I￿ornIng Resources moV￿cnI resourc¢s ¢xpended in funds Unrdtritted funds O¢nera] fund 285.629 (301,156) (JS J27) Rutrle¢ed f•nds Reslri¢ied Funds 170,049 (187W) {J7019) TOTAL FUNDS 455,678 (489,024) (33J46) CompxrAtives for movement in fvDd8 Net mov¢m¢nt in funds Transfers betw¢¢n runds At 31112122 At Iiir22 Unre8trAet¢d fund• General fund Sinking fund 2.096.335 20.924 {46.974) 7.638 (7.638) 2.056,999 13.286 2.117.259 {46,974) 2.070.285 Restrieted funds Restricted Funds 39,933 (12.8(kfj) 27,127 TOTAL FUNDS 2,157.192 (59.780) 2.097,412 Page 19 continued... STONEGROVE COMMUNITY TRUST 1¥40TES TO THE FIryANCIAL sTATEmE￿S- coDtinu¢d FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMEY4T IN FUNDS- conliuued Comparative net movement in funds, included in the aEM)v¢ are follows: Incoming Resour¢¢s Movement resouTC¢S ¢xpended in funds UDrestTiCted fundJ General tund 189.931 (236,905) (46,974) Restrieted fun Restricled Funds 158,125 (170,931) (12,806) TOTAL VUNDS 348.056 (407.836) (59,780) R¢strleted FllDds R¢itrit¢ed FIDdg as at 31 De¢¢mber 2023 eombt of: 31112ll3 31112ll2 Garfield Weston Foundation Naiional Lottery Community bund Peabody Communiry Fund Other Restricted Funds Charles Hayward Foundation 9J08 8,910 12.417 4.800 Tot*1 Restrleted Funds 9308 27,127 13. CONTINGENT LIABtLITIES The charity is currently in discussions with Barnet council about the le&%e of the building. As disclosed in nole 8. fh¢ freehold of the land and building is hcld by Barnet council with a 999 year head lease to the London Dio¢esan Fund and a 998 yeaT undeTlease having been granted to the Sion¢grov¢ Community Trust. In the ￿1. the council ha5 not 4sked for any amounts in respect of the lease of the buildins. How¢v¢r, recently the trusttt5 Etcame aware ihat the council could for limtted r¢nt for the ￿ of the buildin& The charity has asked Barnrf Council to clarify its position. The tNstees do not believe that it is probable ihat it will be asked io settle these amounts therefore provision has not been recorded in the statement of financial xtivities. Page 20 continued... STONEGROVE COMMUNITY TRUST NOTES TO THE FINANCIAL ￿ATEME￿5 . ￿ntinUed FOR THE YEAR ENDED 31 DECEMBER 2023 14. RELATED PARTY DISCLOSURES There w¢r¢ no r¢l&ted paty tr4nsactiort8 for the year ended 31 December 2023. Pag¢ 21 STONEGROVE COmMuNf￿ TRUST DETAILED STATEME￿ OF FINANCIAL ACTIvrriES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 31.12.22 INCOME DoDlItiOlL4 IIDd lezael Grants 219270 154,394 Other CharitAble Ineomt Community Trust Deed L¢ase Rent Service Charge Communily Centre MaTw8ement Individual Giving 50.000 151,917 22,466 3WI 8,194 50.000 121.162 14,657 4.112 3,731 236.408 193.662 Total Ineomlng resovrees 455,678 348,056 EXPENDITURE Charlt*ble *dlvltl¢J R￿¢$ Building Insurjnce Telephone Postage and stationery Marketing and Promotion Heating and Hoi Water Cleaning Building Maint¢nance Communily Aclivilies St Pete￿S Contribution Equipment Expensed Training welfare Subscriptions Travel Food Bank & Kit¢h¢n Cost Freehold Propety Depreciation Fixlur¢s ond lllittings Deprecia 2W2 5,739 3￿53 3,465 8871 30,677 3812 41J09 54,605 15042 739 2J41 iJoi 274 9,177 20,000 3,697 5.693 2,422 6.375 2.229 11.264 2.401 16,841 58,112 13,872 3,777 6.425 3,440 599 4.933 20.000 95 206,700 162,175 Sopport ¢oJts M#n*%emeM¢ Wages 234545 203.669 This page does not fomi part of th¢ statutory financia] statements Page 22 STONEGROVE COMMUNITY TRUST DETAILED STATEME1￿ OF FTh ANCIAL ACTMTtLS FOR THE YEAR E￿I)ED 31 DECEMBER 2023 31.12.23 31.12.22 MAna%emeDt FlnaDCt Bmnk charges Olher Volunteer Training and Expense 1,945 324 Govern*Dce costs Accountancy and legal fees Independent Examiners Fees Financial Managemenl Consultancy fees 1,996 2.400 3,337 38,038 4.980 2,312 5.656 28.720 45,771 41,668 Total resources expended 489,024 407,836 Net expenditure (33,346) (59,780} This pag¢ docs Dot form part of the statutory financial sLqtements Page 23