Charity registration number 1175385 SOUTH ESSEX COMMUNITY HUB ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SOUTH ESSEX COMMUNITY HUB ## LEGAL AND ADMINISTRATIVE INFORMATION |Trustees|M Clark| |---|---| ||G Sandford| ||D Sollis| ||J Pennington| ||Andrew Wright (Appointed 02 February 2024)| |Charity Number|1175385| |Principal Address|324-325 Chartwell Square| ||Southend-on-Sea| ||Essex| ||SS2 5SP| |Independent Examiner|Mohammed Bakhareba FCCA| ||128 City Road| ||London| ||EC1V 2NX| - 2 - SOUTH ESSEX COMMUNITY HUB ## CONTENTS |**TRUSTEES REPORT**|**- 4 -**| |---|---| |**STATEMENT OF TRUSTEES RESPONSIBILITIES**|**- 14 -**| |**INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES**|**- 15 -**| |**STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE**|**- 17 -**| |**BALANCE SHEET**|**- 19 -**| |**NOTES TO THE FINANCIAL STATEMENTS**|**- 21 -**| - 3 - SOUTH ESSEX COMMUNITY HUB ## TRUSTEES REPORT ## _FOR THE YEAR ENDED 31 MARCH 2024_ South Essex Community Hub Registered Charity No: 1175385 Trustee Annual Report 2024 ## **1. Reference and Administration** 1.1 Name and Registration - 1.2 Address - 1.3 Names of Trustees who manage the Charity 1.4 Names of Senior Members of Staff 1.5 Bank ## **2. Structure, Governance and Management** - 2.1 Type of Governing Document - 2.2 Charitable Objectives - 2.3 Aims and Objectives - 2.4 Trustee Selection Methods - 2.5 Recruitment and Appointment of Trustees 2.6 Organisational Structure ## **3. Activities** - 3.1 Statutory Declaration ## **4. Achievements and Performance** - 4.1 Outputs and Outcomes for the Charity Beneficiaries 4.2 Highlights of 2023 – 2024 4.3 Youth Hub - 4.4 Funding for 2023 – 2024 ## **5. Financial Review** - 5.1 Details of any funds which are in deficit - 5.2 Financial Reserve Policy - 5.3 Principle source of funding and outgoings - 5.4 Remuneration of Trustees - 4 - SOUTH ESSEX COMMUNITY HUB - 5.5 Financial Status 5.6 Statutory Statements on Liabilities 5.7 Cost Benefit Analysis 5.8 The Future 5.9 Risk Assessment - 5 - SOUTH ESSEX COMMUNITY HUB ## TRUSTEE REPORT ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **1. Reference and Administration** - 1.1 Name and Registration South Essex Community HUB or SECH is a Registered Charity, No: 1175385 registered with the Charity Commission on 26[th] October 2017. - 1.2 Address 324-325 Chartwell Square Southend-on-Sea Essex SS2 5SP - 1.3 Names of Trustees who manage the Charity Malcolm Clark Chair John Pennington Vice Chair Andrew Wright Trustee Gillian Sandford Trustee - 1.4 Names of Senior Members of Staff Gemma Fisher COO James Hunt Manager - 1.5 Bank Lloyds Bank - 6 - SOUTH ESSEX COMMUNITY HUB 79 High St Buckinghamshire HP5 1BT ## **2. Structure, Governance and Management** - 2.1 Type of Governing Document The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Trustees confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 with regards to the Charities Commission guidance on public benefit when reviewing the charity’s aims and objectives and planning future activities. - 2.2 Charitable Objectives With regard to the activities and achievements of the charity, the Trustees are of the opinion that it continues to fulfil its charitable purpose. - 2.3 Aims and Objectives South Essex Community Hub is a registered charity set up to support the communities of South Essex and enable them to thrive. The aim of the South Essex Community Hub is to ensure residents of Southend have online support and information support, by understanding the needs of the communities within the city and offering warm spaces and access to computers and trained staff in collaboration with other local service providers. We are here to promote and strengthen community cohesion and support all members of our community in our Help In Hub through: - Digital Inclusion & Benefits - Housing & Homelessness - Cost of Living - Emergency Food Support - Children and Young People - Community Development - Information - Volunteering and Work Experience - 7 - SOUTH ESSEX COMMUNITY HUB - Training and Life Skills - Achievement and Performance ## 2.4 Trustee Selection Methods There must be at least 3 Charity Trustees. The maximum number is 10. In accordance with the Constitution, Trustees are appointed or re-appointed for the term of three (3) years by resolution passed at a properly convened meeting of the management committee. In appointing trustees, due consideration is given to ensuring that between them they have the skills and experience necessary to manage the charity effectively and in accordance with Charity Law. The Trustees who served during 2024 and up to the date of signature of the financial statements were: - J Hindley - M Clark - M O’Neil - G Sandford (Appointed 20 July 2022) - D Sollis (Appointed 20 May 2022) - T Taylor (Appointed 1 May 2022) - J Pennington (Appointed 20 April 2022) - Andrew White (Appointed 24 November 2023). 2.5 Recruitment and Appointment of Trustees The Charity is looking to increase the profile of the board and have a make-up inclusive of South Essex diverse communities. The Trustees consider the best methods of attracting a diverse range of candidates with the skills the charity needs. This may include advertising in the local and/or specialist press and using Trustee brokerage services. Short-listing and interviews take place against an agreed criteria. Interviews are carried out by a panel of Trustees, and each candidate is asked similar questions to ensure a fair and objective approach. Preferred candidates are identified and invited to join the Trustees, subject to references, formal vetting and approval by the full Trustee board. Unsuccessful candidates are notified and thanked for their interest. 2.6 Organisational Structure The Trustees delegate the responsibility of day to day operations to the following key persons: Gemma Fisher Chief Operating Officer Anwar Adam Bookkeeper - 8 - SOUTH ESSEX COMMUNITY HUB The Charity then uses freelance staff to deliver its projects in the community. ## **3. Activities** - 3.1 Statutory Declaration The trustees of SECH confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefits in deciding what activities the charity should undertake. ## **4. Achievements and Performance** ## 4.1 Outputs and Outcomes for the Charity Beneficiaries The Charity has continued to deliver a range of high quality services for the local community throughout the year. Between April 2023 - April 2024 through our Community Hub, we had 6229 client engagements. We have had a 23% increase in service users compared to the previous year (22-23 - 5058, 23-24 - 6229). We have seen an 63% increase in the insurance of Food Vouchers issued since 2023. We saw the impact of the cost of living with service users. People are becoming unable to manage and needing additional support. SECH strengthened its partnerships with local businesses and organisations. We have been a partner in the Anchoring 2050 ambition project with Anchor organisation Mid and South Essex Foundation Trust. This project successfully supported over 100 people into employment within the NHS. SECH Help In Hub acted as the access point for people into the program providing digital and life skills sessions. - 4.2 Highlights of 2023 – 2024 We have provided 455 one on one Basic Digital Skill sessions Over 68% of SECH users do not have access or regular access to the internet. 214 people were supported with Universal Credit applications. We completed 260 housing applications. 827 people were supported with Council Tax Reduction Applications. We issued 671 Food Vouchers, marking a 400% increase compared to 2022-2023. 719 people were supported with Job Searching. 95 people were supported with CV Writing and employability skills. ## 4.3 Youth Hub The third year of our Youth Hub has been an excellent year. With the learning and development of the first year, we increased attendance by 50%. Our young people are progressing. We have young people who are achieving Jack Petchey awards. The support of young people re-engaging with education. The volunteer peer support with Duke of Edinburgh Awards and the film “In Our Own Words” which was coproduced with the Young People, both projects enabling expression of what the Youth Hub means to them. - 9 - SOUTH ESSEX COMMUNITY HUB 3150 Youth Engagements in 2023-2024, 39 young people helped with food support. 3 young people were supported back into Education. 5 young people received Outstanding Achievement awards from Jack Petchey Foundation. We are looking forward to running School Holiday Activity in partnership with the HAF program. We plan to pilot the project during the spring half term and subject to positive outcomes a full program of activities will be held in the summer school holiday. - 4.4 Funding for 2023 – 2024 Nationwide Foundation - This funding was provided to support the housing crisis. This has allowed for more support to all the residents facing homelessness or a housing issue. Access Foundation – This was a funded digital inclusion project within the community. We supplied free digital service, support and education to the community. Albert Gubay Foundation – Funding was provided for housing and homeless support within the community. Henry Smith – Strengthening Communities fund was given to support the delivery of service provided by South Essex Community Hub. KFC Foundation – This funding paid for youth trips and food for South Essex Community Hub Youth Services. TNL Youth Hub Year – Project funding for a youth service over three years this covers youth project and staff cost. TNL Cost of Living Crisis – A cost of living support project was delivered at the Help In Hub and the funds support delivery of the service, staff and training. Essex Community Foundation – Funding to support with running cost of the service provided at the Help In Hub and Chapel venue. ## **5. Financial Review** - 5.1 Details of any funds which are in deficit - 10 - SOUTH ESSEX COMMUNITY HUB The charity has no funds which are materially in deficit. - 5.2 Financial Reserve Policy The Trustees have established the following Reserves Policy: 12 weeks operating cost. Planning for contingencies Hubs: The Charity now leases two premises, and a short-term room hire to bring the services of SECH to the heart of each local community within the town. Rents and utility cost will increase. - 5.3 Principle source of funding and outgoings The principal sources of funding are grants made to the charity by small and large charitable foundations. In compliance with the Charities (Protection and Social Investment) Act 2016 all fundraising is carried out in a safe way which protects the public. We do not cold call or appeal to the public to sign up to longterm giving commitments other than providing options to do so on our website. The Charity does not make payments for fund raising activity and has never received a complaint related to fundraising activity. - 5.4 Remuneration of Trustees All Trustees act in a voluntary capacity and do not receive any remuneration or material benefits from their service to the Charity. Out of pocket expenses necessarily and reasonably incurred by trustees in promotion the purposes of the Charity are reimbursed at cost. - 5.5 Financial Status The Charity’s current resources are sufficient to meet its outgoings in accordance with its Financial Reserves Policy and all the indications are that this will remain the case for the foreseeable future. Total Net Assets at the end of the financial year were £267.818, representing less than 12 months of operating cost based on our current budget. - 5.6 Statutory Statements on Liabilities - 11 - SOUTH ESSEX COMMUNITY HUB ## The Trustees declare that: The Charity has given no guarantees where potential liability under the guarantee is outstanding at the date of this statement. The Charity has no debt outstanding at the date of this statement. ## 5.7 Cost Benefit Analysis The fund balances at the end of the year stand at £273,887. Using a Cost Benefit Analysis tool developed for and used widely within public services for the appraisal and evaluation of interventions, the Charity has calculated its social value generated for our Community Hub Model. SECH contributes to an estimated total annual fiscal benefit of £105,000, and public value benefit of £212,212. The continued successful development of the SECH Community Hub Model provides excellent value for money. ## 5.8 The Future SECH has taken a positive view to the future needs of the community. SECH puts families first; we have effective community cohesion at the heart of all we do. We will continue to deliver services that strengthen our community. We support people in the Southend area to increase their skills, improve employment prospects, and to access the right services at their time of need. We have prepared to meet the issues expected due to the long term effects of the credit crisis on mental health and the wellbeing of children and young people. We have established an additional HUB which will focus on the mental health and wellbeing of families and young people. The financial position of the charity at March 2022 shows a strong position, however this has been due to prudent use of unrestricted funds which will be used to counter the many challenges and financial ## 5.9 Risk Assessment The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. Plans for future periods SECH has taken a positive view of the community’s future needs. The Trustee’s report was approved by the Board of Trustees. - 12 - SOUTH ESSEX COMMUNITY HUB John Pennington Date January 23, 2025 Malcolm Clark Date January 23, 2025 - 13 - SOUTH ESSEX COMMUNITY HUB ## STATEMENT OF TRUSTEES RESPONSIBILITIES _FOR THE YEAR ENDED 31 MARCH 2024_ The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The 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 the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed 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 operation. The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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. - 14 - SOUTH ESSEX COMMUNITY HUB INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH ESSEX COMMUNITYHUB I report lo th9 tnjslegs on my 8x8minÈlèon of Ihe fflnarthl stalements of S¢yJih Essex Con¥nunity Hub (tr charity) for the year end￿ 31 Ma¥¢h 2024. R•sponslbllltl•g •nd b••ls of rop￿* As the trustoes Of￿ chaty you are respOn￿tA￿ tr tho prepara11￿ ofthe financial $tatwnents in acc(MtJ8rKx th the require1r￿nts ofthe ChanlièsAcl 2011 lthe 2011 Act). I report in resr*rt of my gxaminaJon of thg charfty's fffiarrial statements ￿rrIed (wt uThJar sad*)n 145 ofthe 2011 ACL In ¢aryiThJ out my exawninab'on I have Ic41vwèd all the applubkn Throctions given by ts Charity C(xnrn¢ssion under sectron 144SXbl of th8 2011 A¢L Independ•nt exa￿￿￿•¢8 statem•nt Your attention Is drawn to Ihe lact Ihat the thaity has prq)ared finarwia statem8nts in ￿arKe Acc￿nI￿)9 and Re￿)rting by Charlb8s pr*paring Ihwr &cwnts in acc(Kdani* wth the Fwwncial Reporb"ng standard appI￿able in UK and Rewtsbc of Ir8larvJ IFRS 1021 in prefe￿￿& to the AC￿nti￿ and RepK)rbng by Charitieb.. stsiemant of Re0)mW￿ndBd Prth ￿ad on 1 2￿5 is refwred to In thg 8xlanl regulations but has now Lwn withdrawn. l under5tsnd that Ihis h85 drme li ordertr fKwiial sta1wn￿ to providè a twe and fair ViV4¥ in cortta￿e wth Generaly AcceFrted AccwntsrffJ Prnctre èffthe for reFortwvJ periods trfinnlThJ on or aftar 1 Jant4ry 2015. I have crynpleted my exanwnation. I CAJnfirn that no rnatters have o*yne to my attention In cthnec*on *ilh the examlnation giviTrJ me cause to belwe that in aÉry rnaierial res￿." accounting ￿CordS were r￿1 kept in resFed of the thanty as requwed by 8*ion 130 of the 2011 Aet,. or the fina￿81 Stalen￿1$ th) not aoxrd wilh those recvrds. L¥ the fina￿18$ stste[T￿tS (k) not cornpty the Wu1￿ments cortemthig the fonn and contenl of accounts set out in the Charilies IAc£ounts and Reportsl Regukbons 2008 otherthan any requirement that the ￿￿Unts gNe a arKI ts vi** 1$ Thjia matter erridered as part ofan ￿nd￿ntht exanmnation. I have no and havo come acr055 no Lrther rnattern wth the exafflinabon to attention ShO￿d t* it) thi8 ￿F￿￿t in ￿der10 enatrAe a undw5tWKlirwJ 0ftr￿ financaal Stat￿nts to be Mohamml Bakhareba FCCA 128 Cty Ro*J. L¢￿. EC1V 2NX 2210l.l..iois SOUTH ESSEX COMMUNITY HUB ## STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ## _FOR THE YEAR ENDED 31 MARCH 2024_ |**Unrestricted**
**funds**
**2024**
**Restricted**
**funds**
**2024**
**Notes**
**£**
**£**
**Income from:**
Other income
718
-
Donations and legacies
3
19,056
-
Charitable activities
4
8,930
291,563
**Total income**
28,704
291,563
Charitable activities
5
173,859
48,255
Other expenditure
9
-
-
Total Expenditure
173,859
48,255
**Net income/(expenditure)**
(145,155)
243,308
Transfers between funds
-
-
**Net movement in funds**
-
-
**Reconciliation of funds:**|**Total**
**2024**
**Unrestricted**
**funds**
**2023**
**Restricted**
**funds**
**2023**
**£**
**£**
**£**
718
19,056
6,477
-
300,493
56,415
157,800
320,268
62,892
157,800
222,114
36,820
182,520
-
108
-
222,114
36,928
182,452
98,154
25,964
24,652
-
(23,312)
23,312
-
2,652
(1,340)|**Total**
**2023**
**£**
6,477
214,215
220,692
219,272
108
219,380
1,312
-
1,312| |---|---|---| - 17 - SOUTH ESSEX COMMUNITY HUB |Fund balances at 1 April
2023
Fund balances at 31 March
2024|172,815
27,660|2,919
246,227|175,734
273,887|170,163
172,815|4,259
2,919|174,422| |---|---|---|---|---|---|---| |||||||
175,734| |||||||| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure is derived from continuing activities. - 18 - SOUTH ESSEX COMMUNITY HUB ## BALANCE SHEET ## _AS AT 31 MARCH 2024_ |**Notes**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at the bank and in hand
**Creditors: amounts falling**
**due within one year**
13
Net current assets
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
14
Unrestricted funds|**£**
2,104
267,447
269,551
1,733|**2024**
**£**
6,069
267,818
273,887
4,258
269,629
273,887|**£**
4,585
168,912
173,497
6,924|**2023**
**£**
9,161
166,573
175,734
2,919
172,815
175,734| |---|---|---|---|---| The financial statements were approved by the trustees on 22 January 2025. J Pennington Malcolm Clark Trustee Trustee - 19 - SOUTH ESSEX COMMUNITY HUB 20- SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024_ ## **1. Accounting policies** - 1.1 Charity information South Essex Community Hub is an unincorporated charitable entity based at 324-325 Chartwell Square, Southend On Sea, Essex, SS2 5SP. - 1.2 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland" (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations, but which has since been withdrawn. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below. - 1.3 Going concern - 21 - SOUTH ESSEX COMMUNITY HUB At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. - 1.4 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. - 1.5 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ Grant income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. The charity relies on the use of volunteers to run activities. The charity cannot place a monetary value on their contribution and therefore not included as income to the charity - 1.6 Expenditure - 22 - SOUTH ESSEX COMMUNITY HUB Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the 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. Direct 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 consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure on charitable activities includes all expenditure directly related to activities undertaken to further the purpose and achieve the objectives of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. - 1.7 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Fixtures and fittings 25% reducing balance Computers 40% reducing balance The gain or loss arising from the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in the statement of financial activities. - 1.8 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any) - 1.9 Cash and cash equivalents - 23 - SOUTH ESSEX COMMUNITY HUB Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. - 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. - 1.11 Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 1.12 Basic Financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is - 24 - SOUTH ESSEX COMMUNITY HUB due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. - 1.13 Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. - 1.14 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employees’ services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminating the employment of an employee or to provide termination benefits. - 1.15 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2. Critical accounting estimates and judgements** In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 25 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **3. Income from donations and legacies** ||**Unrestricted**|**Unrestricted**| |---|---|---| ||**funds**|**funds**| ||**2024**|**2023**| ||**£**|**£**| |Donations and gifts|19,056|6,477| ## **4. Income from charitable activities** |**Unrestricted**
**funds**
**2024**
**Restricted**
**funds**
**2024**
**£**
**£**
**Charitable activities**
Project income
8,930
-
Other income
718
-
Performance related
grants
-
291,563
9,648
291,563|**Total**
**2024**
**Unrestricted**
**funds**
**2023**
**Restricted**
**funds**
**2023**
**£**
**£**
**£**
8,930
56,415
-
718
-
291,563
-
157,800
301,211
56,415
157,800|**Total**
**2023**
**£**
56,415
157,800
214,215| |---|---|---| - 26 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **5. Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**activities**|**activities**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Staff costs|148,523|125,512| |Depreciation and impairment|3,092|2,225| |Wages|228|4,084| |Insurance|930|1,000| |Rent and venue hire|21,600|21,600| |Printing, postage & stationary|606|732| |Legal and compliance|13,718|12,502| |Repairs and renewals|5,777|5,234| |IT and computer expenses|689|181| |Equipment purchases|200|529| |Telephone|1,695|2,982| |Training costs|1,179|-| |Marketing|519|-| |Travel expenses|2,269|1,225| |Project costs|5,000|31,281| |Light & heat|7,438|5,115| |Entertaining|2,186|186| |Sundry expenses|3,567|109| - 27 - SOUTH ESSEX COMMUNITY HUB |**Share of support and governance costs (see note 6)**
Governance
**Analysis by fund**
Unrestricted funds
Restricted funds|219,220
2,894
222,114
173,859
48,255
222,114|214,479
4,793
219,272
36,820
182,452
219,272| |---|---|---| - 28 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **6. Support costs** |**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy fees
-
2,830
Independent Examiner’s
fee
-
-
Bank charges
-
64
-
2,894
Analysed between
Charitable activities
-
2,894|**2024**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
2,830
-
2,927
-
-
1,800
64
-
66
2,894
-
4,793
2,894
-
4,793|**2023**
**£**
2,927
1,800
66
4,793| |---|---|---| |||
4,793| |||| ## **7. Net income/(expenditure) for the year** |This is stated after charging:|**2024**|**2023**| |---|---|---| ||**£**|**£**| |Operating leases|21,600|21,600| |Depreciation|3,092|2,225| ||24,692|23,825| ## **8. Trustees** None of the trustees received any remuneration for their role as trustees. One member of the trustees was reimbursed for expenses as follows: M Clark £3,221 for travel expenses (2023: £2,236) - 29 - SOUTH ESSEX COMMUNITY HUB ## **9. Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
7
**2024**
**£**
118,295
24,175
6,053
148,523|**2023**
7
**2023**
**£**
120,600
2,681
2,231
125,512| |---|---|---| There were no employees whose annual remuneration was more than £60,000. - 30 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **10. Other expenditure** |||**Unrestricted**|**Unrestricted**| |---|---|---|---| |||**funds 2024**|**funds 2023**| |||**£**|**£**| |Net loss on disposal|of tangible fixed assets|-|108| ## **11. Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. ## **12. Tangible fixed assets** |**Fixtures**
**and fittings**
**Computers**
**£**
**£**
**Cost**
At 1 April 2023
7,482
8,785
Additions
-
-
Disposals
-
-
At 31 March 2024
7,482
8,785
**Depreciation and impairment**
At 1 April 2023
3,667
3,440
Depreciation charged in the year
954
2,138|**Total**
**£**
16,267
-
-
16,267| |---|---| ||
7,107
3,092| - 31 - SOUTH ESSEX COMMUNITY HUB |Eliminated in respect of disposals
At 31 March 2024
**Carrying amount**
At 31 March 2024
At 31 March 2023|-
4,621
2,862
3,816|-
5,578
3,207
5,345|-
10,199| |---|---|---|---| ||||
6,069
9,161| - 32 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ |**13.**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**14.**
**Creditors**
**Amounts falling due within one year:**
Other taxation and social security
Trade creditors
Accruals and deferred income|**2024**
**£**
-
2,104
2,104
**2024**
**£**
-
234
1,500
1,733|**2023**
**£**
2,320
2,265
4,585
**2023**
**£**
445
1,443
5,036
6,924| |---|---|---| ## **15. Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. |**At**|**1**|**April**|**Incoming**|**Resources**|**Transfers**|**At**|**31**|**March**| |---|---|---|---|---|---|---|---|---| |||**2023**|**resources**|**expended**||||**2024**| |||**£**|**£**|**£**|**£**|||**£**| - 33 - SOUTH ESSEX COMMUNITY HUB |Nationwide Foundation year 1
Access Foundation
Albert Gubay Foundation year 1
Henry Smith
KFC Foundation
TNL Youth Hub year 1
TNL Cost of Living Crisis
Essex Community Foundation
TNL Community Fund
Jack Petchey Foundation|-
-
-
-
-
-
-
-
780
2,139
2,919|25,000
21,000
24,470
50,000
2,500
89,637
47,855
5,000
-
-
265,463|4,310
-
7,982
-
12,235
-
48,293
-
409
-
63,109
-
16,418
-
5,054
54
-
-
-
-
157,810
54|20,690
13,018
12,235
1,707
2,091
26,528
31,437
-
780
2,139
110,572| |---|---|---|---|---| - 34 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **Previous year:** ||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| |---|---|---|---|---|---| ||**2022**|**resources**|**expended**||**2023**| ||**£**|**£**|**£**|**£**|**£**| |Heritage Lottery Fund – Breathing|767|-|(847)|80|-| |Space|||||| |Henry Smith Trust – Pontins Holiday|-|50,000|(50,006)|6|-| |Awards 4 All – Wellbeing and Life|14|-|(18)|4|-| |Skills Mentoring|||||| |Coronavirus Community|-|-|-|-|-| |Support for Youth Support The|3,478|-|(3,500)|22|-| |National Lottery|||||| |Community Fund|-|88,100|(110,445)|23,125|780| |Charles French|-|1,500|(1,500)|-|-| |Garfield Weston|-|15,000|(15,046)|46|-| |Sported Foundation Barclays|-|500|(529)|29|-| |Jack Petchey Foundation|-|2,700|(561)||2,139| ||4,259|157,800|(182,452)|23,312|2,919| ## **16. Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. - 35 - SOUTH ESSEX COMMUNITY HUB ||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| |---|---|---|---|---|---| ||**2023**|**resources**|**expended**||**2024**| ||**£**|**£**|**£**|**£**|**£**| |General funds|172,815|28,704|(173,859)|-|27,660| |**Previous year:**|||||| ||**At 1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**| ||**2022**|**resources**|**expended**||**2023**| ||**£**|**£**|**£**|**£**|**£**| |General funds|170,163|62,892|(36,928)|(23,312)|172,815| - 36 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **17. Analysis of net assets between funds** |**Fund balances at 31 March 2024 are represented by:**
Tangible assets
Current assets/(liabilities)
**Previous year:**
**Fund balances at 31 March 2023 are represented by:**
Tangible assets
Current assets/(liabilities)|**Unrestricted**
**2024**
**£**
5,590
22,070
27,660
**Unrestricted**
**2023**
**£**
8,364
164,451
172,815|**Restricted**
**2024**
**£**
479
110,093
110,572
**Restricted**
**2023**
**£**
797
2,122
2,919|**Total**
**2024**
**£**
6,069
267,818
138,232| |---|---|---|---| ||||
**Total**
**2023**
**£**
9,161
166,573
175,734| ## **18. Operating lease commitments** At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows: |**2024**|**2023**| |---|---| |**£**|**£**| - 37 - SOUTH ESSEX COMMUNITY HUB |Within one year
Between two and five years|21,600
3,600
25,200|21,600
27,000
46,800| |---|---|---| The charity holds a short-term lease for property at the Victoria Shopping Centre at a rent of £21,600 per annum terminating in May 2025. The charity also holds a 5-year lease for the North Road Chapel which is at a peppercorn rent. - 38 - SOUTH ESSEX COMMUNITY HUB ## NOTES TO THE FINANCIAL STATEMENTS ## _FOR THE YEAR ENDED 31 MARCH 2024 (CONTINUED)_ ## **19. Related party transactions** ## **Transaction with related parties** During the year the charity entered the following transactions with related parties: |**Services received from related parties**
Entities with shared key management personnel|**2024**
**£**
5,500
5,500|**2023**
**£**
5,625
5,625| |---|---|---| The charity purchased consultancy services totalling £5,500 (2023 - £5,625) from NGD Productions Limited, for whom D. Sollis is a director from 1[st] November 2021. - 39 -