Professional Charity Registration No. 1182060
ST EDWARDS DEVELOPMENT PROJECT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD TO 31st MARCH 2021
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ST EDWARDS DEVELOPMENT PROJECT LEGAL AND ADMINISTRATIVE INFORMATION
| Trustees | M B Gallagher (Chair) |
|---|---|
| L J Bell (Treasurer) | |
| P A Dockree | |
| L R C Harvey | |
| C A Mills | |
| M A Nye | |
| A A I Robinson | |
| Revd Dr C J Shelley | |
| R E Slater | |
| Charity number | 1182060 |
| Principal address | St Edwards Church Hall |
| St Keverne Road | |
| Mottingham | |
| London | |
| SE9 4AA | |
| Independent Examiner | B G Hawes |
| Mulberry | |
| Mottingham Lane | |
| London | |
| SE9 4RW | |
| Bankers | Unity Trust Bank Plc |
| Four Brindleyplace | |
| Birmingham | |
| B1 2JB |
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ST EDWARDS DEVELOPMENT PROJECT
| CONTENTS | ||
|---|---|---|
| Page | ||
| Trustees' report | 4 – 5 | |
| Independent Examiner report | 6 | |
| Statement of financial activities | 7 | |
| Balance sheet | 8 | |
| Notes to the financial statements | 9 - 11 |
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ST EDWARDS DEVELOPMENT PROJECT
TRUSTEES' REPORT
FOR THE PERIOD TO 31ST MARCH 2021
The trustees present their report and accounts for the period to 31st March 2021.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, the Charities Act 2011 and 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 (FRS102) (as amended for accounting periods commencing from 1 January 2016).
Objectives and activities
The charity was set up to relieve the needs of the community in Mottingham by;
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1) The relief of financial hardship, in particular but not exclusively by the provision of advice and
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information;
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2) The preservation and protection of good physical and mental health;
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3) The advancement of education and training of those in the community who are in need thereof so
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as to advance them in life and assist them to adapt within the wider community;
4) The provision of facilities for recreation or other leisure-time occupation with the object of improving the conditions of life of those persons who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances.
The charity was established by a charitable trust deed on 15th February 2019 and registered with the Charity Commission on 15th February 2019.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance Financial review
During the period the charity received grants of £27,612 other income of £20,623 and investment income of £0.
The charity incurred expenditure totaling £34,831.
It is the policy of the charity that unrestricted reserves should be maintained at a level that will allow the charity to operate for 3 months.
The trustees are of the view that given the size of the funds available and the desire to avoid any risks, that any surplus funds will be invested in cash deposits to maximise the interest receivable by the charity. 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 those risks.
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ST EDWARDS DEVELOPMENT PROJECT
TRUSTEES' REPORT (CONTINUED) FOR THE PERIOD TO 31st MARCH 2021
Structure, governance and management
The trustees who served during the period were:
M B Gallagher (Chair)
L J Bell (Treasurer) P A Dockree L R C Harvey C A Mills M A Nye A A I Robinson Revd Dr C J Shelley R E Slater
Trustees are appointed by existing trustees. There must be a minimum of three trustees.
Public Benefit Statement
The Trustees have complied with their duty in section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission.
On behalf of the Trustees
M B Gallagher Chair/Trustee
Dated. 12th October 2021
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ST EDWARDS DEVELOPMENT PROJECT
INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES ON THE PREPARATION OF THE STATUTORY FINANCIAL STATEMENTS OF ST EDWARDS DEVELOPMENT PROJECT FOR THE PERIOD to 31st MARCH 2021
In order to assist you to fulfill your duties under the Charities Act 2011, we have prepared for your approval the financial statements of St Edwards Development Project for the period to 31st March 2021, set out on pages 7 to 11 from the charity's accounting records and from supporting information and explanations available.
It is the Trustees duty to ensure that St Edwards Development Project has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus/deficit of St Edwards Development Project. Trustees consider that St Edwards Development Project is exempt from the statutory audit requirement for the period and is only required to obtain an independent examiner's report.
Independent Examiners Statement
It is my responsibility to:
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examine the accounts (under section 145 of the Act)
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follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the Act; and
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state whether particular matters have come to my attention.
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the organization and a comparison of the accounts presented within those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the 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
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with section 130 of the Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
I have not been instructed to carry out an audit or a review of the financial statements of St Edwards Development Project. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
B G Hawes FCCA Independent Examiner Dated: 9[th] October 2021
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ST EDWARDS DEVELOPMENT PROJECT
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
For the Period to 31st MARCH 2021
| Unrestricted | Restricted | Total | Total | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | 2021 | 2020 | |
| £ | £ | £ | £ | ||
| Incoming Resources | |||||
| Grants | 2 | 1,023 | 26,589 | 27,612 | 20,226 |
| Investment Income | 3 | 0 | 0 | 0 | 0 |
| Fund Raising Activities via Projects | 4 | 354 | 20,269 | 20,623 | 18,852 |
| Total Incoming Resources | 1,377 | 46,858 | 48,235 | 39,078 | |
| Resources Expended | 5 | 3,884 | 30,470 | 34,354 | 47,721 |
| Fixed Asset Depreciation | 6 | 477 | 0 | 477 | 674 |
| Net Incoming (Outgoing) Resources | (2,984) | 16,388 | 13,404 | (9,317) | |
| Transfers between Funds | 0 | 0 | 0 | 0 | |
| Net Movement in Funds for the Period | (2,984) | 16,388 | 13,404 | (9,317) | |
| Balance Brought Forward 31 stMarch 2020 |
14,480 | 7,024 | 21,504 | 30,821 | |
| Balance Carried Forward 31stMarch 2021 | 11,496 | 23,412 | 34,908 | 21,504 |
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ST EDWARDS DEVELOPMENT PROJECT
BALANCE SHEET
AS AT 31ST MARCH 2021
| Note | 2021 | 2020 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets | 6 | 477 | 954 |
| Current Assets | |||
| Bank Current Account | 36,009 | 25,560 | |
| Cash in hand | 231 | 105 | |
| Debtor | 327 | 394 | |
| Total Assets | 37,044 | 27,013 | |
| Liabilities | |||
| Creditor due within 1 year | 8 | 2,136 | 5,509 |
| Net Assets | 34,908 | 21,504 | |
| Funds represented by | |||
| Restricted Funds | 9 | 23,412 | 7,023 |
| Unrestricted Funds | 11,496 | 14,481 | |
| Total Funds | 34,908 | 21,504 |
The accounts were approved by the Trustees on 14th October 2021
Date 14[th] October 2021
M B Gallagher L Bell Chair/Trustee Treasurer/Trustee
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ST EDWARDS DEVELOPMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD TO 31ST MARCH 2021
1 Accounting policies
Charity information
ST EDWARDS DEVELOPMENT PROJECT is an unincorporated charity.
1.1 Accounting convention
These accounts have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102"), "Accounting and Reporting by Charities" the Statement of Recommended Practice for charities applying FRS 102, the Charities Act 2011 and UK Generally Accepted Accounting Practice (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
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 £.
1.2 Going concern
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.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
1.4 Incoming resources
All incoming resources are included in the statement of financial activities when the charity becomes entitled to the income and the amounts can be measured reliably.
Voluntary income and investment income are accounted for on a receivable basis.
1.5 Resources expended
Expenditure is included on an accruals basis.
Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks and other shortterm liquid investments with original maturities of three months or less.
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ST EDWARDS DEVELOPMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD TO 31st MARCH 2021
| 2 | Grant income | 2021 | 2021 | 2020 | 2020 | |
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Co-op Community Fund £173 | ||||||
| Mottingham Community Forum £3,236 | ||||||
| Community Links Bromley £24,203 | 27,612 | 20,226 | ||||
| 3 | Investment income | 0 | 0 | |||
| 4 | Project Raised funds | 20,623 | 18,852 | |||
| Funds | raised related mainly to contributions received for the use of the services and catering | provided | ||||
| 5 | Cost of Charitable activities | |||||
| Restricted fund costs £ 30,470 | ||||||
| Unrestricted fund costs £ 31 | ||||||
| Administration & Office costs £ 3,853 | 34,353 | 47,721 | ||||
| 6 | Fixed Assets | |||||
| Balance as at 31stMarch 2020 £954 | ||||||
| Less Depreciation £ 477 | ||||||
| Balance at 31st March 2021 | 477 | 954 | ||||
| 7 | Debtors | |||||
| Unrestricted Funds | ||||||
| Insurance paid in advance | 327 | 327 | ||||
| Supplier refund | 0 | 67 | ||||
| 8 | Creditors | |||||
| Creditors due within 1 year | ||||||
| Restricted Funds | ||||||
| HMRC re PAYE £ 424 | ||||||
| Total | 424 | 2,833 | ||||
| Unrestricted Funds | ||||||
| Grant received in advance £1,712 | ||||||
| Total | 1,712 | 2,675 |
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ST EDWARDS DEVELOPMENT PROJECT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD TO 31st MARCH 2021
9 Restricted Funds:
Restricted Funds at 31st March 2021 consisted of: Project Worker £ 6,102 Youth Café £ 955 Counselling £ 3,131 Afternoon Tea £ 638 MBLR Kidspace £ 1,927 MBLR Covid Brunch £ 43 MBLR Play & Stay £ 94 MBLR Large Grant £ 5,505 Misc £ 5,017 Total 23,412 7,024
10 Grants Payable - Nil
11 Trustees
The following Trustees received payments from the Charity during the year: L R C Harvey for Professional Counselling Services £2,500
Other than these payments none of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
12 Employees
The Charity employed a Project Manager during the year and 3 part-time self-employed support workers.
13 Related parties
There are no related parties.
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