CHARITY REGISTRATION NUMBER: 1164005 The Carnegie Herne Hill Community Trust CIO Unaudited Financial Statements 31 December 2023 WALTER HUNTER & CO LIMITED Chartered accountants 24 Bridge Street Newport South Wales NP20 4SF
The Carnegie Herne Hill Community Trust CIO Financial Statements Year ended 31 December 2023 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position 10 Notes to the financial statements
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial statements ofthe charity for the year ended 31 December2023. Reference and admlnlstratlve detalls Registered charity name The Carnegie Heme Hill Community Trust cio Charlty reglstratlon number 1164005 Principal office Carnegie Library 192 Herne Hill Road Herne Hill LONDON SE24 ODG The trustees B Prince N McLeod Y B Karraz T Halahan B Morrison R Wilson L Nightingale (Resigned 15 October 20231 G Howorth (Served from 6 February 2023 to 15 November 20231 Independent examiner Mr Jonathan Rhodes Bsc BFP FCA 24 Bridge Street Newport South Wales NP20 4SF Structure, governance and management Type of governing document.. Constitution How is the charity conslituled.. CIO (Foundation Model) Trustee recruitment via Reach Volunteering and local forums. We have a Trustee Handbook. The first Trustees have completed training with NCVO. Organisalional slruclure.. Chair Secretary Treasurer
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 Objectives and activities The CCT will manage and develop the Carnegie building on behalf of the community as a Community Hub, increase community use of the building, support additional footfall into the library, enhancing the lives of our local communities, strengthening the local economy, supporting local culture and encouraging wellbeing. - The long-lerm sustainable future of the Carnegie Library building in Herne Hill will be secured as a community managed asset. The building will provide wide public access and community use lo include a wide range of activities that complement the learning, literary, cultural and creative ethos originally envisaged in Andrew Carnegie's endowment. The historical legacy and the architectural fabric of the building will be secured. The Trustees of CCT CIO have developed and operate the Carnegie Library Hub al Camegie Library. We operate under a licence currently renewed every 6 months, pending agreement ofa long term lease. The main activity of the Hub is lo hire out the five rooms in the building, except the library r(iom itself, for community and commercial activities to generate income. Wherever possible hires are community based, local and attract local residents. The Trustees have had regard to guidance issued by the Charity Commission on Public Benefit. Volunteers make an important contribution by tending to the large garden area which sutrounds the building.
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 Achievements and performance Partnerships continued to develop throughout 2023 growing 14 to 21 regular partners. With a full board and growing enthusiasm for the burgeoning community business, we wanted lo simplify our identity which we found continued lo be confusing with the community. The community's perception was that the building, library and hub were one and the same thing. This ambiguity was compounded by a very nice heritage listed wrought iron sign above the entrance saying Carnegie Library" and it is excusable that the community coming lo Hub activities don't understand or care much about the distinction of the library and Hub. We've worked hard to work alongside the librarians in the office and building loo. Consequently, we decided lo rename our working name lo Carnegie Library Hub" from the "Carnegie Community Hub" This pattern has been used to SucsS elsewhere, the library is popular and synonymous with the building lo the community, and il provided a clear and simple identity. We renamed our working name in the first quarter and updated our website, social media handles, invoicing, and google identity. With a clearer identity we also simplified our working mission statement and vision to clarify our purpose for the team on every day work and daily decisions. We hired a freelance communications offIr who's role was to increase conlenl about our events and achievements on OLJr website and social media platforms, work with our partners to help prepare and promote their events so that they are successful, and lead our external voice to the commLJnity al large. In 2023 we publish 65 news pieces on our website. up from 49 in 2022, important as this drives the marketing email newsleller, and also improves google search scores and original content bringing search clicks to our website. After renaming our Instagram handle, we grew the followers from 250 10 500 with 64 posts and 494 stories. Our dedication to informing the community via social media compares well with similar organisations. Whilst we do not yet have permission for extemally mounted notice boards, we've had considerable success laminating and manually hanging posters from our partners. This is especially effective for passers by and remains an important part of communication, showing our presen and supporting our partners lo be successful. All this effort has made a considerable difference to our perception in the community. The neighbourhood are understanding better who we are, that we are open, that the Hub is a thing, that stuff is going on. and the future has possibilities. This is especially important given the recent history backdrop of acrimony around closure of the library lo which most of the community now remains largely perplexed as lo what il was all about given the library is now open more than it used to be. In late 2022 we instigated a booking enquiry form for our partners and the community lo get in touch about bookings. Whilst discouraged, some people insist on email which is harder to measure, however it has allowed us lo streamline the pro$5 and measure new enquiries. In 2023 we had 203 unique enquiries from community interest users, partners, or private individuals. Most of these will be for one off events, but a significant perntage become partners who book for recurring events. Whilst we welcome private bookings, for example kids parties and NHS away days, our community business mostly depends on a partnership model lo deliver a variety of events and services lo the community. The advantage of this is also that the income is more continuous. We grew our regular partners to 21 by the end of the year, up from 14, which is a great achievement. Il's a lol of work, but we're excited lo be able to develop more diverse relationships, and our belief is that the community café will be pivotal for attracting more partners. Alongside our improved website news stream, we were able lo release an events calendar online, which is now on our whars on page. This is a great achievement, and it sucCincY shows visitors the
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 variety of activities on offer in an allractive but condensed format. In 2022 we ran a tender process to attract operators to run our community café. After meeting the Lambeth CEO in December we were in a position lo confirm with our chosen favourite operator in eady 2023. They were able to gather information, engage an architect, and submit for listed building consent to for the servery drawings. Whilst the servery was non-invasive, and surface mounted, it was sts'll necessary to do this slep which goes through the normal planning process. We were successfully awarded listed building consent, which is fantastic, such that the café is now fully legal lo commence, once we have permission from the freeholder Lambeth lo do the work. We provided a nice summary for the community of the achievements in the year here. Team To improve capacity in the team we hired a Hub Coordinator who could manage the enquires and bookings diary in September. This worked very well indeed as it supported the existing team in liaising more with partners, managing caretaking, selling standards and reaching out to new partners. One of our Centre Managers resigned and requested to join the Caretakers roster which is great as we continue lo benefit from their experien and reliability. We've added numerous new caretakers to our books, for which we run payroll monthly based on hours worked. Their support and flexibility is welcome and paramount lo the scaling of our operation. They are also frequently the front fa of the Hub and they frequently manage a difficult building and challenging situations professionally and with a smile. We've already mentioned that we hired 8 freelance communications and website officer, who was engaged in February 2023. At the start of the year, we engaged an external accounting firm lo run our periodic bookkeeping and payroll, as well as our end of year accounts. Their ongoing support, patience and bookkeeping is a great help to the team and trustees and demonstrates how we've grown to the size of an organisalion that is a going concern. Developments and Updates wlthln the Year There have been other notable developments. 1. Popup café: We ran a successful popup café in December to test the concept, build community support and have fun. There were a number of learning points, and everyone was extremely excited by the COnpt. 2. Concept design.. We engaged an architecture firm, with experience of identity design and wayfinding, lo draw up proposals for room design, naming, waylinding, notice boards and a few other bits and pieces. The worf( is ongoing and we're excited to make the Hub experien clearer and more welcoming. 3. Pricing review: We reviewed our pricing for community, partner and private rental, alongside other considerations like peak and off-peak, that would encourage the right mix of usage and cross subsidise the activities we want to encourage. Any pricing changes are on hold. 4. Café furniture: We Invested in, or were given, some lovely vintage fumiture which is more permanent and makes our community lounge much more welcoming. 5. Pre-lease vision document: In September we put a lot of effort into documenting our strategy and financial plan for Lambelh to gel buy in for the next phase of development of the hub.
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 6. Postcode sleuth.. We determined that the official postcode for the libory building was wrong in most places, and sel about fixing il actually and online. IVS now correct lalmostl everywhere. Capital Works For some lime the agreement with Lambeth was that we would roll from a license to occupy lo a lease once important fixes to the building were complete. These Capital Works were scheduled for some time as the rooms, al the front in particular, were leaking onto the floor, there was plasterwork damage, the roof had failed and so on. This work was delayed, covid further delayed, costs mounted elc.. Finally, Lambeth's cabinet approved a contractor. Unfortunately, we were not given sight of the scope or the agenda before a contract was signed, nor warning of the start date. The team worked admirably with such obstacles by planning how we would hand over certain rooms, and move our bookings around. The work was poorly scoped, poorly managed, poorly completed, the roof still leaks onto the floor, the gutter ovefflow is flawed and other such problems. But in the short term our rooms are freshly decorated and the floors re-sealed. And the haIaY and café got a well-deserved paint change. The hallway is looking much brighter and more welcoming, and the community lounge loo. Crucially we managed to stay open throughout and we did not lose any long-term partners by only limiting new bookings. Additionally, we were able to host the Library run chess club as the library was shut for about a month, which was a nice thing lo be able facilitate. Support from Lambeth for their Culture 2020 Strategy Unfortunately, in September 2023 Lambeth informed us that they had withdrawn all previous leases and agreements for lease that were to replace our license, without explanation. We lobbied hard for reasons and for meetings so that we could present our strategy bul none was offered. Lambelh remained unresponsive despite every effort lo escalate. We were promised an update in November, but none came. ConseqLJenlly, we entered the end of the year with a considerable amount of uncertainty and a pause on any business development despite an impressive track record.
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 Financial review The charity's financial performance for the year has shown a small deficit of £4,888, a significant change from the surplus of £26,868 reported in the previous year. This shift is primarily attributed to the impact of capital works undertaken during the year, alongside a notable reduction in grant income. Impact of Capital Works The capital works implemented have been essential for maintaining and improving our facilities. However, these works have had a direct impact on our income. While these improvements are vital for the long-lerm sustainability of the charity, they have temporarily affected our fi'nancial position lit affected the number of rooms available for renlall. Grant Income Reduction Additionally, we experienced a decrease in grant income, specifically a reduction of £25,000 from Lambelh. This decline has significantly contributed lo our overall financial situation. The combination of reduced grant funding and the rent loss related lo capital works resulted in a variance of approximately £5,000 beyond the direct impact of the grant income loss. Risks The risks facing the charity as of end 2023 are.. 1. Despite Capital Works, the roof is still flawed and water still leaks Into our rooms, especially after heavy rain. 2. The building more generally is not maintsined in good enough repair for successful room hires. 3. We are unable to secure a workable lease with Lambeth or the agreement to do so continues to be delayed or on-hold. 4. Lambelh remained unresponsive and introduced delays around the lease and permission for the café into the end of the year, however as of the lime of writing this annual report Lambeth have shown a much greater willingness to listen to us and support our requirements which is very positive. Flnanclal Plan As part of the documentation we prepared for Lambeth, ahead of signing a more long-lerm lease, we prepared many strategy documents including updating our financial plan. This plan took into account our much-improved understanding of the need for room hire by the community, understanding of what our partners want and are willing lo pay, up lo dale ulilisation numbers for each room and plans for further investment in team, wayfinding and concept design, café and other such developments. The core outcome of our plan is that we believe il feasible lo triple our current room utilisalion which we believe lo be feasible, and which will return a monthly rent that will be comparable lo what Lambelh want lo re1Ve. Financial Performance- Conclusion While the charity has fad challenges this year, particularfy with the deficit and reduced income, the investments made in capital works and staffing are an excellent foundation for future growth and operational efficiency. In fact the improvements to hub bookings and communication had a visible effect on our standing in the community, and the improvements in how we manage caretaking and the flexibility of that growing team meant that our operations were able lo accommodate the increasing number of partners. Reserves held by the charity are detailed in the Statement of Financial Position and have been ringfenced according to our financial plan which we presented lo Lambelh in September.
The Carnegie Herne Hill Community Trust CIO Trustees, Annual Report (cotrJtltrJuedJ Year ended 31 December 2023 2023 Annual Report Summary In summary the year had a stronger team with more experience and a more confident voice. A bigger partnership list. Increased utilisalion of the rooms. We held Lambeth to account as best as possible over the capital works spending to represent the best for the building. We ran a popup café which was a nice way lo end the year. And many more successes and community business developments not mentioned and mentioned here. Thank you, Team and Caretskers, for what you continue lo evolve, scale and improve. The trustees, annual report was approved on 29 October 2024 and signed on behalf of the board of trustees by.. T Halahan Trustee
The Carnegie Herne Hill Community Trust CIO Independent Examiner's Report to the Trustees of The Carnegie Herne Hill Community Trust CIO Year ended 31 December 2023 I report to the Iruslees on my examination of the financial ststemenls of The Camegie Heme Hill Community Trust CIO I'the charily'l for the year ended 31 December 2023. Responslbllltles and basls of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordan with the requirements of the Charities Act 2011 I'lhe Act'l. I report in respect of my examination of the charity's financial slalements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come lo my attention in connection with the examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act., or the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the fomi and content of awounts set out in the Charities IAc¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not 8 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 dwn in this report in order to enable a proper understanding of the accounts to be reached. Mr Jonathan Rhodes Bsc BFP FCA Independent Examiner 24 Bridge Street Newport South Wales NP20 4SF 29 October 2024
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The Carnegie Herne Hill Community Trust CIO Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Camegie Library, 192 Herne Hill Road, Herne Hill, LONDON, SE24 OAG. Statement of Compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, rounded lo the nearest pound. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation unceriainty The pparatiOn of the financial statements requires management lo make judgements, estimates and assumptions that affect the amounts reFX)rted. These estimates and judgements are continually reviewed and are based on experien and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Income tsx The charity is exempt from lax on ils charitable activities. Fund accounting Unreslricled funds are available for use at the discretion of the Iruslees to further any of the charity's purposes. Designated funds are unreslricled funds eamiarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslricled Income funds or endowment funds. 11
The Carnegie Herne Hill Community Trust CIO Notes to the Financial Statements (contInLd) Year ended 31 December 2023 Accounting policies (conllnuedj Incomlng resourees All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entillement to the gift, receipt is probable and its amount can be measured relisbly. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when reTrived if the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent, in which case il may be regarded as reslricled. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which it relates.. expenditure on raising funds includes the costs of all fundraising aclivilies, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned beeen the activities they contribute lo on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded al cost, and subsequently staled al cost less any accumulated depreciation and impairment losses. 12
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