2023-12-31-accounts - St.faith's Community & Youth Foundation

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ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

CHARITY REGISTRATION NUMBER 1185846

Independent Examiners Ltd Unit 2 The Broadbridge Business Centre Delling Lane Bosham PO18 8NF

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023

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Page
Legal and Administrative Information 3
Trustees' Report 4 to 5
Independent Examiner's Report on the Accounts 6
Statement of Receipts and Payments 7
Statement of Assets and Liabilities 8
Notes to the Accounts 9 to 11
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SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

FOR THE YEAR ENDED 31ST DECEMBER 2023 LEGAL AND ADMINISTRATIVE INFORMATION

CHARITY NUMBER

1185846

START OF FINANCIAL YEAR

END OF FINANCIAL YEAR

01 January 2023

31 December 2023

TRUSTEES AT 31 DECEMBER 2023

Canon Mark Williams Chair Rev Nicholas Quanrud Vice Chair Simon Pimbett - Treasurer Treasurer Sally Ann Hodge Faith Locken Robin Wyborn Valerie Burrell-Walker MBE Sharon Baah Resigned 25 Jan 2023 Celia Stober Appointed 8 June 2023

The existing trustees appoint any new trustees following the provisions laid out in the Charity's governing instrument.

GOVERNING INSTRUMENT Constitution adopted 20 June 2019

REGISTRATION DATE

CIO - FOUNDATION Registered 16 Oct 2019

OBJECTS

a) To promote the benefit of the inhabitants of the Parish of St Faith's, and also the inhabitants of the immediate neighbourhood, (without distinction of gender, sexual orientation, nationality, age, disability, race , religion or of political opinion, maintaining a Christian ethos, partnering together where appropriate with the statutory authorities, diocese and voluntary organisations) to advance education and to provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for participants;

b) To maintain and manage St Faith's Centre in furtherance of the above objects;

c) To make available a safe space for hire for groups fulfilling object (a). And for group and individual hire for social occasions and the receiving of an agreed rental.

CORRESPONDENCE ADDRESS

BANKERS

INDEPENDENT EXAMINER

Rev Nicholas Quanrud St Faith's Community Centre Red Post Hill London SE24 9JQ Lloyds Bank Plc, Camberwell Barclays Bank Plc, Peckham Rye Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

TRUSTEES' REPORT FOR THE YEAR ENDED 31ST DECEMBER 2023

Staff, Trustees & Foundation Matters

2023 has been a year of further transitions at the St Faith’s Centre. Following a number of resignations and subsequent staff shortages in 2022 the Trustees were pleased to appoint a new Centre Manager, Paulo Rafael, in June. Miranda Okon tendered her resignation in August and left her role as Community Outreach Worker in September.

The second half of 2023 was characterised by a sense of optimism and we saw improvements in the communication and smooth running of Centre Operations while there was a full time manager in place. However, Paulo Rafael tendered his resignation in April 2024, and left his post at the end of June. This meant that the Trustees found themselves in the familiar position of being without a Centre Manager and of having to involve themselves in day-to-day operations.

Premises & Upkeep

Buildings were maintained to a good standard and no major works have been undertaken in the period. In May of 2024 the trustees agreed to a total refurbishment of the Centre kitchen, to be carried out in November 2024 by Dentons Catering Equipment.

Activities & Lettings

All regular user groups have continued from the previous year.

The St Faith’s Summer Playscheme ran again in 2023. Much of the organisation of the playscheme was managed by Miranda Okon, Elizabeth Linton-Smith and Fr Nicholas Quanrud. Numbers of attendees were down on previous years and it was agreed that the scheme ought to be reviewed. Due to a lack of Centre Manager in 2024 it was agreed that there would be a pause and the playscheme did not run.

Weekend and private hire bookings continue to be managed by Praetorium, which has been a huge help while staffing levels have been low.

In the summer of 2024 the Centre partnered with St Faith’s Church in the organization of a Summer Fair. This was very well attended and provided a much-needed space in the calendar for community members to see the Centre facilities.

Financial review

Total incoming resources for the period were £160,825 (2022: £118,966) of which £266 was restricted income (2022: £28). Total resources expended were £166,474 (2022: £127,708) of which £0 was restricted expenditure (2022:£0). A full review of the financial position of the charity can be found on the attached financial statements.

Reserves

As at the balance sheet date of 31 December 2023 the charity had free reserves (unrestricted funds) of £127,303 (2022 £133,219) and restricted reserves of £30,857 (2022 £30,591).

Going Concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resource to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Acknowledgements

A huge debt of thanks is owed to the Trustees who have worked very hard to support the running of the Centre over the past year.

SAINT FA ThH'S COMMUNITY & Yoimi FOUPIDATION TRUSTEES. REPORT (contInu) FOR THE YEAR ENDED 31ST DECEMBER 2023 Tnmtees. RewoMlbllllle• The Charilies Act 2022 reoulres the trustee5 to prepare finBncial slatements lor &ich thanclal year vthlch presents a true and falr vicw d the State Lrf affèir5 of the Charlty and of the surpkns lh¢ Charlty that per. In preparlng the6e flnancl siaLemtnt$ the Iru5teE5 ore requlred lo.. l) Select sukable accwnting pollcles and apply them ¢S1$tel1tlv. 111 Makeludgements e5tlmates that are reagLabk and prudt. 1111 Prepare finonclal stotemenis the odng tth)cem bè515 unless tt 15 th7approprte to presume that the trust continue exlsrence. The Trustees are re5prmslb12 keeplng prcptt accwntlng recwos, which dlscbse wlttt reasonab accuracy * ony tlnie the financw posklm rf the Cttariry. They are $0 respsle for safe4uardh9 the asss of the chatY and hence for taklrtg steps f¢r the preventlcffi and detect1 ènd Lther lrre4Jlark$. l approve the atiached statement d flnancK41 aCtltIeS and bn£t sheEt 4nd coiflrm that I hove mode oll Inftwrnatt necessary fc It3 preparatlai. Approved by the Trustee5 on....... Slgned on thdr behaf by Trusree..r.. Prlnted Nllme.. Jic ¥loL 45 Q

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023

Report to the trustees/ members of Saint Faith's Community & Youth Association on the accounts for the year ended 31st December 2023.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2022 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
to state whether particular matters have come to my attention.

Basis of independent examiner’s statement

My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from 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.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

which gives me reasonable cause to believe that in, any material respect, the requirements:
to keep accounting records in accordance with section 130 of the Charities Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Donna Leppitt Independent Examiners Ltd Unit 2 The Broadridge Business Centre Delling Lane Bosham PO18 8NF Date: 25th October 2024

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023

3. INCOMING RESOURCES

Note 4. RESOURCES EXPENDED Note NET INCOMING/(OUTGOING) RESOURCES TOTAL FUNDS BROUGHT FORWARD Conversion Adjustment TOTAL FUNDS CARRIED FORWARD Charitable Activities:- Capital Expenditure Incoming from Charitable Activities Donations & Legacies NET MOVEMENT IN FUNDS Repairs and Maintenance Staff Costs Office Expenses Users Groups Utility Costs Investment Income TOTAL RESOURCES EXPENDED Other Income TRANSFERS BETWEEN FUNDS Cleaning and Caretaking Insurances Waste Disposal Other expenditure	Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ 27,376 - - 27,376 25,865 - 7 - 7 58 129,781 - - 129,781 80,236 3,402 259 - 3,661 12,807
	160,558 266 - 160,825 118,966
	Unrestricted Restricted Designated Total Total Funds Funds Funds 31-Dec-23 31-Dec-22 £ £ £ £ - - - - 1,876 31,508 - - 31,508 24,847 - - - - 8,497 7,489 - - 7,489 4,247 29,511 - - 29,511 30,545 19,329 - - 19,329 8,746 12,335 - - 12,335 11,980 11,637 - - 11,637 7,919 6,695 - - 6,695 6,136 47,969 - - 47,969 22,914
	166,474 - - 166,474 127,708

	166,474 - - 166,474 127,708

	(5,915) 266 - (5,649) (8,742)
	- - - - -
	(5,915) 266 - (5,649) (8,742)
	47,714 30,591 85,505 163,809 172,551
	41,798 30,857 85,505 158,160 163,809

All of the Charity's operations are classed as continuing operations.

The notes form part of these financial statements, found on pages:-

9 to 11

SAINT FAITh'S COMMUNITY & YOUTH FOUNDATION STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR ENDED 31ST DECEMBER 2023 UnreStcted Funa Restrkted Fund T•t•l T•t•l 31ryD•c-23 31wOetr22 Notes Co•h Fundsi Lloyds 8Dnk AccLxJnt BarclS B&nk- Core arcw Bank- Fabrlc aarckys Bank- Youth Cash In Han 96,057 31,246 2.623 98,680 31,246 27,491 743 104,529 3D.g52 27.232 736 361 27,491 743 T•t•l Curr•nt A$t8 Ney CURReNT Asstts J27.303 30,857 158,160 163,809 TOTAL ASSETS Less CURAeNT LiAOILITZES 127,30J X,857 NQT AsseTS R•y•A•nt•d .' Gener31 Funds Restricted Funds Desnated Funds 41.798 41,798 30,857 85,505 47,714 30,591 85,505 30,857 85.505 A1 rnt•ln•d Iw th• ¢ty,1 UM: Vlx•d T•nBlble AM•ts'. Vi¢ioriè Pèrade, 6ro4¢st4lrs operty The charVIS pLwnnln4 S9 Lh15 property •t Arcadlo Hw5e. 3 Vktcrla Parde. BroAd5talr5, crio 105 In the next flnanc41l year. D•blor•4nd Prnp•ym•rt Sundry Aecdvabfe 41,993 41.993 4,148 £39,135 of Involced Income remalned unpald Js rl 31 December 2023, but that thls wbs fulv caught up Jnd <dkted In 2024. Ll•bIlbtl. Independent txamlner'5 Fee Account5 Payable l& Roundlng61 Petty Cash box 852 601 94 852 601 94 610 547 811 harY Law requlre5 the Trustee5 to prepare flnanclal 5tements each financbl year whlch cc¥nply wlch rhe reguL3tlons set In ihe Charllles Act 2022. The Twstees have dccted to take advantage of the prov1s15 tthèt Jpplv to small Char5 and hève prepared o Receipts and Payments kcount and 5tBtwnent ofA5set5 and Liibiltv whiih are Set wt pages:. 9t0 11 APprd by theTrustee5 On ..... .. q.A(e £024 Sned on their behaw by Trust Prlnted Name..

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

1. ACCOUNTING POLICIES

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.

Basis of preparation:

The accounts have been prepared under the “Receipts and Payments” basis as prescribed by the Charity Commissioners, and they meet the appropriate legal requirements.

Fund Accounting

Funds held by the charity are either:

1. Unrestricted funds

These are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.

2. Restricted funds

These are funds that can only be used for particular restricted purposes within the objects of the charity.

3. Designated funds

These funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023

2. RESTRICTED FUNDS

CURRENT FINANCIAL YEAR

PREVIOUS FINANCIAL YEAR Total Total Community Project Fabric Youth Funding Fabric Youth Funding Community Project	Balance Unrealised Balance 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ £ 24,308 259 - - 2,924 27,491 4,237 7 - - (3,501) 743 2,046 - - - 577 2,623
	30,591 266 - - (0) 30,857
	Balance Unrealised Balance 01-Jan-22 Income Expenditure Gain/Loss Transfer 31-Dec-22 £ £ £ £ £ 24,281 27 - - - 24,308 4,236 1 - - - 4,237 2,046 - - - - 2,046
	30,563 28 - - - 30,591

3. DESIGNATED FUNDS

CURRENT FINANCIAL YEAR

PREVIOUS FINANCIAL YEAR General Funds Designated Legacy Total Designated Funds Designated Legacy General Funds Total General Funds Total Total General Funds	Balance Unrealised Balance 01-Jan-23 Income Expenditure Gain/Loss Transfer 31-Dec-23 £ £ £ £ £ £ 85,505 - - - - 85,505
	85,505 - - - - 85,505 47,714 160,558 (166,474) - - 41,798
	133,219 160,558 (166,474) - - 127,303
	Balance Unrealised 01-Jan-22 Income Expenditure Gain/Loss Transfer 31-Dec-22 £ £ £ £ £ 85,505 - - - - 85,505 -
	85,505 - - - - 85,505 56,483 118,939 (127,708) - - 47,714
	141,988 118,939 (127,708) - - 133,219

In early 2023 the decision was taken to sell the Broadstairs property and with that the distinction of the set-aside within our general funds was effectively lost. The charity has full title to the property, and the terms of the original Will neither prevent us from selling the property nor obliges us to apply the cash legacy solely towards the property.

SAINT FAITH'S COMMUNITY & YOUTH FOUNDATION

NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2023

4. STAFF COSTS AND NUMBERS

Gross Wages & Salaries Employer's National Insurance Costs Employer's Pension Contributions	TOTAL 2022/23 £ 40,515 2,221 856
	43,592

Average number of employees who were engaged in each of the following activities:

Charitable Activities	TOTAL 2022/23 1
	1

The Charity operates a PAYE scheme to pay all employed members of staff and no employees received emoluments in excess of £60,000. (2022 - None)

5. TRUSTEES AND OTHER RELATED PARTIES

No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.

(2022 - None)

6. RISK ASSESSMENT

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.

7. RESERVES POLICY

The Trustees have considered the level of reserves they wish to retain, appropriate to the charity's needs. This is based on the charity's size and the level of financial commitments held. The Trustees aim to ensure the charity will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The trustees will endeavour not to set aside funds unnecessarily.

8. PUBLIC BENEFIT

The Charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the charity has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

This page does not form part of the statutory financial statements