WESTMINSTER HOUSE YOUTH CLUB la company limited by guarantee) REPORT OF THE TRUSTEE BOARD FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 Registered Number 13083464 Charity Registration Number 11944 11
WESTMINSTER HOUSE YOUTH CLUB CONTENTS FOR THE YEIiR ENDED 31ST MARCH 2024 Report of the Trustee Board Report of the Independent Examiner Accounts comprising.. Statement of Financial Activities 9-10 Balance Sheet 11-20 Notes to the Accounts
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 The Trustee Board present their statutory report together th the accounts of the Westminster House Youth Club for the year ended 31 st March 2024 LEGAL AND ADMINISTRATIVE INFORMATION NAME OF THE CHARITY Westrninster House Youth Club PRINCIPAL ADDRESS 29 Nunhead Grove, London, SE15 3LZ COMPANY REGISTPATJON NUMBER 13083464 IEngland and Walesl CHARITY REGISTRATION NUMBER 1194411 MANAGEMENT COMMITTEE V. Peel R. Parker R. Lomax C. Hill YDOW D Haynes Z Mclntosh CHAIR V. Peel TREASURER R. Lomax SECRETARY R. Parker CUSTODIAN TRUSTEE Federation of London Youth Clubs INDEPENDENT EXAMINER Alex Koupland, Calder & Co., 30 Orange Street London WC2H 7HF SOLICITORS Sebastians, St. Bartholomew House, 92 Fleet Street, tx>ndon, EC4Y IPB BANKERS Barclays Bank Plc., Dulwieh Group, P.0. Box 270, IA)ndon, SE15 4RD INVESTMENT MANAGERS Black Rock Investn]ent Management IUKI Ltd., 12 Throgmorton Avenue tK)ndon EC2N 2DL
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Westminster House Youth Club is a company limited by guarantee incorporated in England and Wales and is a registered charity. The governing document is the company's articles of association. The Trustees, who can number up to sixteen, are elected to the Trustee Board every year by the rnen]bers at the Annual General Meeting. The Club employs a Direetor, Katie Worthington, on whom the management of all staff and projeets is devolved and who is also re8POn8ible for all fundraising in consultation with the Treasurer. She organises all the Club's activities and is responsible for recruiting the staff who run and assist in running the various Club Projects. The Trustees have exercised their power to co-opt the Director and the staff members in charge of the projects to attend meetings of the Board, but in accordance with the Articles only Trustees who have been elected by the members may vote on any resolution of the Board. The Chair, Secretary and Treasurer of the Club are also elected each year by the members at the Annual General Meeting. Elected Committee Members are known as -voting Members. of the Trustee Board. The views of young rnernbers of the Club are taken into consideration and they are welcome to attend Board n]eetings or have their vieThs represented by a Worker. All the Trustee8 held office for the whole year TRUSTEE INDUCTION AND TRAINING New Trustees are fully brieled on the provisions of the Constitution, their legal obligations under Cornpany and Charity law, the decision-making processes, and the financial circurnstances of the Club, and are introduced to key employees and other Trustees. OWEcfivES AND AcrivtTIES The objects of the Westminster House Youth Club, as stated in its Articles, are °to give young people between the ages of 7 and 20 years in Nunhead and Peckharn and the suound1ng area in tK>ndon acces8 to a range of learning opportunities and challenging experiences which promote their personal and social and civic development.. These objects are currently being achieved in the following main areas'.- Providing a safe, educational, building-based project for the young people of Nunhead and the surrounding areas,. providing an in-house programme of activities designed to empower young people, enable them to make informed decisions and to meet their individual and group needs by regularly involving them in the consultation process,. offering young people opportunities to engage in aCtItieS which are outside the realms of their usual inner- city experience,. ensuring that all our activities actively promote equality of opportunity for all our young people- actively seeking partnership with other agencies to ensure a high quality of provision for our young people.
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 REVIEW OF THE CLUB'S ACTIVITIES In 2023124 we continued to feel the irnpact of the aftermath of Covid for young people in terrns of gaps in education, deteriorating mental health and ever-present waiting lists for our serriees. The trends we reported last year l. A significant number of new members with additional needs 2. We are likely to have waiting lists for the forseeable future as we try to accomodate inereasing need. have continued. This has been exacerbated by the sudden loss of George, our beloved security guard, who had been at the Club over 25 years and died unexpectedly on a visit to Nigeria in January 2024. As well as staff, young people and fan]ilies missing George personally, the Club has to face up to the Proble of managing the gate, which George did with skills, knowledge and considerable style for so rnany years. We have had additional funding from The Jack Petchey Foundation together th the HAFF progran]rne which has helped significantly with our holidaj offer and has also meant that we provide a healthy meal every day we are open aeross the sehool holidays. There has been an increase in our intergenerational work, largely funded by the Neighbourhood Fund and in addition to continuing Dementia friends training we ran a highly successful joint Christmas dinner (albeit in January) with over 100 attendees in partnership with the local INY Club for older residents. We also assisted them in seeuTing funding for their own projects for the next 2 years The Summer was incredibly busy and a great sueeess with many offsite trips and development opportunities, including ice skating, outdoor pursuits, trarnpoline, seaside trips, etc. We were able to run the young volunteers prograrnme, funded this year by CVC and RDAS via London Youth. This programrne allows young people in year I l and above to apply to work on our Summer delivery and earn up to £16 a day volunteering. The programtne also includes CV support and job related training such as Safeguarding and First Aid Throughout the year there have been rnany highli*ts including, a trip Hindleap Warren for 52 Joung people supported by the Jack Petchey Foundation, setting up our own in-house Arts Award, validated externally, which this produced work inspired by Anthony Gormley- the results were displayed at the Nunhead Art Trail, Cross Country. Our theatre section continued to grow and we greatly benefitted frorn a lot of cheap and free tickets Ithanks to the Black Ticket Project and HAFI and managed to see I I ShoS. Young people also started a Theatre Critie group and regularly post short de0 reviews ol the perfornlanees they have seen. The Duke of Edinburgh Section continued to flourish. In addition to a successful expedition trip for 20 Bronze and Gold participants to the South Downs la last minute change after predicted bad weather in Brecon Beacons) which straddled this and the next financial year, 5 young people went to Buckingham Palace to collect their Gold Awards. Accreditation opportunities included Food Safety, Safeguarding, Snowboarding/Skiing, Financial Management, Police Badge, Junior Table Tennis Umpire. We finally found a new delivery partner for First Aid and were able to deliver this too. We were able to continue vital one to one tuition in Maths and English thanks to a new 2 year grant fro Charterhouse in Southwark In terms of regular funding we continued to benefit from The Girdlers Company's contribution to our 5 night a week homework prowision LEAP, which is now needed n]ore than ever and LBS Youth strCe funding which pays for staff salaries
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 It was a difficult year financially as we knew that we must face up to the loss of 2 signifieant grants, Big Lottery Fund and Peter Minet - totalling £130,000 a year. A lot of tin]e was spent preparing applications to existing and potential new donors. Towards the very end of 2024 we secured core funding from Children in Need and salary funding for Fridays Irorn DCMS and this alrnost covered the Ioss. Whilst it was a great relief, 'e couldn't celebrate for long as, like rnost of our funding, they are short terni arrangernents. We have continued to develop our partnership ryth Westn]inster School who organised donations of text books and bedding etc. They also arranged for 50 voung people to visit Westminster Abbe! free of charge. This was one of the highlights of the years We are delIted to eontinue working with them again as our historical link is so strong. We continued to attraet more Indidual and Corporate donations and the work we have been able to do with our Family Fund continues to be key in terms of immigration, housing, education support IEHCPS and school exelusionsl and legal matters for our families. Torn frorn Bam architects has been working pro bono on the potential build at the Club. Progress has been slow due to external factors. The Trustees remain hopeful that, if planning is secured again, neeessary funds ean be raised for the project to go ahead as it would proNryde rental incorne to cover core costs and help to secure the Club's future in very uncertain times. The planning application has been resubmitted and we stlll await the results. The Cost of Living Crisis has impacted us in every area. The cost of everything, including insurance, diesel, activity costs etc ha8 soared. Also, because the salaries we pay are dependent on grant funding, we are only able to offer a 3 % annual pay rise and this irnpacted on our staff team. Our work with the Felix Project has rneant we are still able to offer a weekly food bank service. Shamefully there are still queues in the path for this every Friday night. We have also partnered with the Hygiene Bank who make regular donations of toiletries lor our families. HAFF funded some Iree hair sessions for young women at the Club which was well received. The most exciting news in 2023124 is the progress on our plan to becorne carbon neutral. We have a large fiat roof at the Club and have installed 92 solar panels thanks to the generosity of many donors, but notably Charlotte and Matt Vaight. This has been a steep learning curve and took longer than we had hoped as we waited for approval fron] lots of outside agencies. This part of the project ivas shortlisted for a Southwark Business award in early 2024. The second phase of the project which we hope to complete in 2024 involves the complete removal of our ga8 supply and the installation of infra-red heating. The project was a response to l. Alarm at the astronomical cost of powering our building. 2. Our mernbers commitment to in]proTring their environrnent We are excited about this initiative and keen to share our learning with other youth clubs and community centres where possible. The system is now up and running and we are generating huge amounts of electricity. It takes time for the rmancial benefits to filter through but we are hopeful that we will be self-suffieient on energy costs in 24125 We have benefited greatly from the continuing generosity of our major funding sources. We are also indebted to the rnan) Trusts and Charitable Foundations (listed in notes 4 and 18 to the accounts) who have prowided general funds or funded specific and vital pieces of equipment and work within the Club. Jamie Holyland continued as an external evaluator and his new report 18 due in May 2024. Below 18 a quote fro his 2023 report. HYC is a fantastic youth proS1O. the only youth proNrysion that I would recommend in NunheadlPeckham.° Safer Schools Police Offieer
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 The staff team, paid and voluntary, have provided another year of excellent work in challenging circurnstances. Their eommitment to improving the lives of }'oung people means that our members are able to access opportunities which impact positively on their lives and on their futures. Thanks are due to everybody who played a part in making it such a successful year- staff and volunteers, funding bodies and advisors> parentslguardians and club members. POLICY ON RESERVES AND INVESTMENT The objective of the Trustees has been to maintain a sizable reserve, principally invested in managed funds, the ineome from which can be utilised to meet eosts whieh are not eovered by speeifie grants. These investments th a market value of £540,200 at 31 March 2024 represented the greater part of the unrestricted funds of £638,000 whieh include the fund of £250,000 designated to support the proposed residential pmperty inv¢stment. Unrestricted funds, comprising general income and designated income, fell during 2023-24 from £655,900 to 2638,000 as a result of a deficit of £17,900 represented by net outgoing resources on unrestricted funds £3 1,200 offset by an unrealised gain of £13,300 on revaluation of the investments at 31 March 2024. The designated income funds comprise'.- Project Shortfall Fund of £59,000 which is available to meet unfunded Costs of major repairs, unexpected loss of committed funding, and replacement of Tninibuses when required. It was not necessary to have recourse to this fund in 2023-24. Residential Investment Fund of £250,000 created by transfer from General Income in order to eannark resources to support the proposed residential property investment. Restricted funds increased during the year by some £3 1,900 to £178,200 at 31 March 2024 as shown in Note 18 to the aecounts. This represents the excess of the aggregate amounts subscribed to the funds during the year over expenditure. INVESTMENT Because of its limited income and substantial overheads, investment of the Club's funds has always had as its ain objective obtaining an incorne yield at a worthwhile level accon]panied by long-terrn capital growth and a concomitant long-term growth in incorne. Details of the relevant investments appear in the Notes to the annexed aeeounts which show an inerease of £13,300 in their aggregate market value in 2023-24. FINANCIAL REVIEW A summary of the year's results can be found on Page 8 of the attached accounts th a net inerease in funds for the year of £14,00012022-23 £29,3001. The surplus comprises an excess of income over expenditure of £700 12022-23 £40,6001 and an unrealised gain of £13,30012022-23 loss of £1 1,3001 on revaluation of investment assets. Details of the costs and funding of the Club's projects and activities may be found in Note 18 on Pages 19 and 20 of the annexed accounts. PLANS FOR FUTURE PERIODS Subject to the exigencies of future funding requirements, as dealt with in the Financial Review, the Club will aim to continue the activities, described above in the report on the Club's Activities.
WESTMINSTER HOUSE YOUTH CLUB REPORT OF THE TRUSTEE BOARD FOR THE YEAR ENDED 31ST MARCH 2024 BALANCE SHEET Total funds inereased in the year by £14,000 to £1, 146, 100 at 3 1 March 2024. This includes the Expendable Endowment of £330,000 Thhich represents the book value of the Club's freehold property. Within total funds, the Restricted Income Funds of £178,200 represent restricted Grants donated in advance for specific purposes and not expended by 3 1st March 2024. Investments at 3 1 March 2024, £540,200 at market value, are attributable to unrestricted funds and are managed by Black Rock Investment Management IUKI Limited. Cash and bank balances, £175,500 at 31 March 2024 were attributable to unrestricted funds1£85,9001 and to restricted funds1£89,6001. The Managernent Committee have authorised expenditure of approxirnately £IOO,000 on installing a solar powered electric heating system at the Club premises. The cost will be funded substantially by donations and grants whieh amounted to £96, 100 at 3 1 Mareh 2024.Inote 18 to the aeeountsl Expenditure of £68,400 was incurred in 2023-24 and is capitalized (note I I to the accountsl- RISK MANAGEMENT The Trustees have a risk management strategy which eomprises'.- A basic document identifying the risks the Club may face. the establishment of systems and procedures to mitigate identified risks; an annual review of the risks the Club may encounter. TRUSTEE BOARDE RESPONSIBILITIES Law applicable to charities in England and Wales requires the Board to prepare accounts for each financial year which ve a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing accounts showing a true and fair view the Board's members are required to.. Select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent; follow applicable accounting standards and statements of recommended practice subject to any material departures disclosed and explained in the accounts; PTepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation. The Board are responsible for keeping propeT accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable it to ensure that the financial statements comply with the Charities Act 20 1 l. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities. V PEEL R iL)MAX Date of approval.. 27 June 2024
INDEPENDENT EXAMINERE REPORT TO THE TRUSTEE BOARD OF THE WESTMINSTER HOUSE YOUTH CLUB FOR THE YEAR ENDED 31ST MARCH 2024 I report to the trustees Iwho are also Directors for the purpose of company lawl on my examination of the financial statements of Westminster House Youth Club I'the eharitable company'l for the year ended 3 1 Mareh 2023 whieh comprise the Statement of Financial Activities, the Balance Sheet and related notes. This report is n]ade solely to the charity's trustees, as a body, in accordance with section 145 of the Charities Act 201 l. My work has been undertaken so that I might state to the charity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullest extent perrnitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body> for my work, for this report, or for the opinions I have formed. RESPONSIBILTIES AND BASIS OF REPORT As the trustees of charitable company you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 I'the 2006 Act). Having satisfied myself that the financial statements of the charitable company are not required to be audited under Part 16 of the Act and are eligible for independent examination, I report in respect of my examination of the charitable con]pany's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Actl and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 20 1 l Act An independent examination does not involve gathering all the evidenee that would be required in an audit and consequently does not cover all the rnatters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the lirnited assurance that an independent examination can prOde. Consequently l express no opinion as to whether the financial statements present a true and fair, view and my report is limited to those specific matters set out in the independent examiner's statement. Since the charitable company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 20 1 l Act. I confirm that l am qualified to undertake the examination because l am a member of ICAEW, which is one of the listed bodies INDEPENDENT EXAMINERE STATEMENT I have cornpleted rny examination. I confinn that no material rnatters have corne to rny attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act. or the financial statements do not accord with those records. or the financial statements do not cornply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in aeeordanee with the methods and prineiples ol the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in aeeordanee with the Finaneial Reporting Standard applieable in the UK and Republic of Ireland IFRS 1021. I have no eoneerns and have come aeross no other matters in eonneetion Mryth the examination to whieh attention should be drawn in tFLiS report in order to enable a proper understanding of the financial staternents to be reached. Alex Koupland CALDER & CO Chartered Accountants and Registered Auditors 30 Orange Street London WC2H 7HF Date.. 26 September 2024
WESTMINSTER HOUSE YOUTH CLUB STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2024 Restricted Funds Expendable End0Nnet Unrestricted Total Total Notes Funds Income 2024 2023 Incoming Resources Incoming Resources from Generated Funds'.- Subscriptions Grants and similar voluntary income Donations Investrnent income Other income 4,041 4,041 1,877 246,002 246,002 23,603 20,723 3,000 288,789 19,248 18,856 3,260 23,603 20,723 3,000 Total Incoming Resources 246 002 297,369 332 030 Resources Expended: Charitable activities 80,115 216,544 296,659 291,391 Total Resources Expended Net Incorning/lOutgoingl Resources before Transfers Transfers- Gross Transfers between Funds Net Incorning/lOutgoingl Resources before Other Recognised Gains and Losses Gain (Lossl on Revaluations - Investment assets 80,115 216,544 296,659 291,391 128,7481 29,458 710 40,639 2,417 2,417 131,1651 31,875 710 40,639 12 13,250 13,250 111,3541 Net Movement in Funds 17,915 31,875 13,960 29,285 Total Funds brought forward 655,885 146,289 330,000 1,132,174 1,102,889 Total Funds carried lorward £ 637,970 £ 178,164 £ 330,000 £ 1,146,134 £ 1,132,174 CONTINUING ACTIVITIES All incoming resources and resources expended derive from continuing aCtIties. TOTAL RECOGNISED GAINS AND LOSSES The statement of financial activities includes all gains and losses reeognised in the year.
WESTMINSTER HOUSE YOUTH CLUB BALANCE SHEET 31ST MARCH 2024 Unre- Restricted Funds stricted Expendable Endown]ent Total Total Notes Funds Incorne 2024 2023 FIXED ASSETS Tangible Fixed Assets 12,119 90,301 330,000 432,420 381,848 INVESTMENTS 12 540,180 540,180 526,930 CURRENT ASSETS Debtors 13 488 488 7,988 Cash at Bank and in Hand 14 85,883 175,457 241,103 86,371 89,574 175,945 249,091 LIABILITIES CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 15 700 NEf CURRENT ASSETS 85,671 87,863 173,534 223,396 637,970 178,164 330,000 1,146,134 1,132,174 CREDITOR.. AMOUNT FALLING DUE IN MORE THAN ONE YEAR 15 TOTAL NET ASSETS £637,970 £178 164 £330 000 £1,146,134 £1,132 174 Representing.. UNRESTRICTED FUNDS Designated Income General Income 16 309,000 328,970 309,000 328,970 309,000 346 885 17 637,970 637,970 655,885 RESTRICTED FUNDS Income 18 178,164 178,164 330 000 146,289 330 000 Expendable Endowment 19 330 000 178,164 330,000 508,164 476,289 TOTAL FUNDS £637,970 £178,164 £330,000 £1,146,134 £1,132,174 The company's financial statements have been prepared in accordance with the provisions applicable to eompanies subjeet to the small eompanies regime.
The trustees consider that the cornpany is entitles to exemption from the requirement to have an audit under the provision of section 477 of the Companies Aet 2006 1.the Act'l and members have not required the eompany to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Aet 2006 th respect to accounting records and the preparation of the financial statements. The financial statements were approved and authorised for issue by the Trustees on 27 June 2024 and signed on their behalf by.. V Peel (Chairl R. IA)max (Treasurer) 10
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES lal Scope The accounts relate to the activities of Westn]inster House Youth Club only. Westn]inster House Youth Club is a cornpanv lirnited by guarantee to which the assets, liabilities and undertaking of an unineorporated association of the same name were transferred on 23 November 202 1. This combination was accounted for as a merger in accordance Thith the Charities SORP 20 15 The memberg of the Company are the Trustees named on page l. In the event of the company being TOUnd up, the liability in respect of the guarantee is limited to £1 per member of the company. Ibl Basis of Accounting The financial statements have been prepared under the historical cost convention with iterns recognised at cost or transaction value unless othenvise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Staternent of Recomrnended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16 July 20 14 and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and Charities Act 20 11. Icl Income All ineome is recognised once the eompany has entitlement to the ineome, it 19 probable that the incorne will be received and the arnount of income receivable can be measured reliabl}. Subscription income represents token pa!mentS Tnade by young rnernbers for access to Club sessions. This income is accounted for on a cash basis Expenditure Expenditure is charged to the staternent of financial actiNrytie8 on an accruals basis and is classified as follows.. Direct Charitable Expenditure Direct charitable expenditure comprises services identifiable as ivholly or mainly in support of the Charity's charitable and operational work. These costs are regarded as an integral part of carrying out the direct charitsble objectives of the Charity. Managernent and Adrninistration Managernent and administration expenditure con]prises costs incurred in the management of the Charity's assets, organization, adrninistration and constitutional and statutory requirements.
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUNTING POLICIES (Continued) lel Tangible Fixed Assets Depreciation is provided at the following annual rates in order to ltE each asset off over its estimated useful life. Freehold property Minibus Equipment Fixtures & fittings Solar heating Nil 200/0 Straight line 10 % on net book value 10 % on net book value 7.5 % on net book value It is the Club's policy to write off the expenditure on equipment related to project activities in the year in which the expenditure is ineurred. ifj Investments Fixed asset investments are a form of financial instrurnent and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless fair value cannot be measured reliably in which case it 18 rneasuTed at cost less impairn]ent. Investrnent gains and losses, whether realised or unrealised, are combined and shown in the heading 'Gain I ILossl on Revaluations- Investment assets- in the Statement of finaneial aetilryties. Igl Cash at hand and in bank Cash is represented by eash in hand and deposits with financial institutiong repayable without penalty on notice of not rnore than 24 hours. Ihl Creditors Creditors are recognised when there is an obligation at the Balanee Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlernent, and the aTnount can be estimated reliably. Provisions are measured at the best estimates of the amounts required to settle the obligation. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Re8tTiCted funds are funds which are to be used in accordance with Specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund 18 set out in the notes to the financial staternents. Pension Commitments The Charity makes defined contribution arrangements for certain members of the staff. Pension contributions are charged as expenditure when paid. 12
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 GRANTS AND SIMILAR VOLUNTARY INCOME 2024 2023 Specific Grants General Grants 246,002 £288,789 £246,002 £288,789 DONATIONS 2024 2023 Sundry Donations £23 603 £19 248 Note.. "LEAP" is the name used in these Accounts to describe the facilities and actItIeS of the t£vison Education and Arts Project. GRANTS AND DONATIONS Grants and donations reeeivable for restricted purposes are sho in Note 18 in the Column Wew Resources,. Grants received relating to periods after the end of the finaneial year are earried fonvard as deferred grants (Note 151'.- Donations of £100 or more were received from the following for general purposes:_ Lionel and Florence Assant Elinor and Hugo Blick Hilary Carn]ichael Helen Clark Deborah Dowdall Joe Do}"le Gerry Ford Lisa Graham Nick Linnane Lorraine Liyanage Roger and Jodie IA)max Hannah Mawdsely Alison Orr Alidz Pambakian Alistair Reid Mark Roberts FL Judith Harries Charlotte and Dave Hill Euan Forsyth Alys Garnian Michael Hollins Hannah Hughes Lizzie Hyatt Suzanne James Paul Kabuubi John Schofield Kate Smith Wayne Virgo Charlotte and Matthew Vaight Russell Walters Jim Waterson Katherine Wentrup-Estupinan Bernadette Worthington
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 OTHER INCOME 2024 2023 Sundry Other Income 3,000 3,260 Gain on disposal of red assets £3,000 £3,260 INVESTMENT INCOME Bank Interest 191 933 Dividends 20,532 17,923 £20 723 £18,856 CHARITABLE ACTIVITIES Restricted Funds Unrestricted Funds endable Endowment Total 2024 Total 2023 Incorne Salaries Employer's Pension Contributions Instructors, Fees 63,554 3,492 107,640 1,759 16,857 4,579 48,140 5,496 171,194 5,251 16,857 4,579 48,875 5,496 2,114 7,904 1,523 7,163 2,412 171,333 5,192 6,456 5,737 53,964 3,560 2,268 8,792 662 6,296 4,430 3,584 3,741 15,376 Vehicle Expenses Activities Security Costs Rates 735 2,114 861 562 Light and Heat Sundries Insurance Repairs and Maintenance Incorporation Governance (Note 81 Depreciation 7,043 961 7,163 1,835 577 381 5,100 9.971 5,481 17,810 7,839 £80,115 £216,544 £296,659 £291,391 14
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 GOVERNANCE COSTS 2024 2023 Office Costs 381 621 Independent projeet evaluation 3,000 1,500 Independent Exan]ination Fee 2,100 1,620 £5,481 £3,741 TOTAL RESOURCES EXPENDED Staff Costs Depreci- ation Other Costs Total 2024 Total 2023 Direct Charitable Expenditure 176,445 17,810 96,923 291,178 287,650 Management and Admin istration of the Charity 5,481 3,741 £296 659 £291,391 Wages and Salaries 158,530 158,551 Social Security Costs 12,664 12,782 171,194 171,333 Employer's Pension Contributions 5,251 5,192 £176,445 £176,525 The average number of employees, analysed by lunction, was'.- Youth Workers 12 One ernployee received emoluments totalling £73,353 including employer's national insurance and pension eontributions. No other employee received emoluments exeeeding £50,000. 10. TRUSTEES. REMUNERATION No voting member of the Trustee Board received any remuneration in respect of their services or reimbursement of expenses during the year.
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 TANGIBLE FIXED ASSETS Freehold Land and Buildin Solar Electric/ Heatin Fixtures and Fittin ment Minibuses Total Cost or Valuation 1st April 2023 Additions at cost Disposals 330,000 55,322 15,920 70,376 471,618 68,382 68,382 315t March 2024 £330,000 £55,322 £68,382 £15,920 £70,376 £540,000 Depreciation 1st April 2023 Charge for Year On disposals 45,018 1,027 14,519 144 30,233 14,075 89,770 17,810 2,564 31st March 2024 £46,045 £2,564 £14,663 £44,308 £107,580 Net Book Value 31st Mareh 2024 £330,000 £9,277 £65,818 £1,257 £26,068 £432,420 31st March 2023 £330 000 £10,304 £40 143 £381 848 The net book value at 31 st March 2024 represents tangible fed assets used for direct charitable purposes. The Trustee Board are not aware of any material change in the value of the freehold property. 12. INVESTMENTS 31.3.24 Gn/(LO8$) 31.3.24 Market Value 31.3.23 Market Value Revaluation Cost Blackrock Charities UK Bond Fund A 26136.364 Income Shares 15231 46,000 38,159 38,682 Blackrock Charities UK Equity Fund A 68864.363 Ineome Shares 13,773 214,000 502,021 488,248 £13,250 £260,000 £540,180 £526,930 16
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 13. DEBTORS 2024 2023 Incon]e Recoverable Grants receivable Amounts Paid in Advance and Receivable 400 400 7,500 88 88 £488 14. CASH AT BANK AND IN HAND Cash at bank and in hand is divided between the Charity's funds as follows'.- lal Unrestricted Fund8 Projects shortfall General income 59,000 26,883 59,000 28,408 85,883 87,408 Ibl RestTiCted Funds General endowment Restricted income fund 89,574 153,695 Total Cash at Bank and In Hand £175,457 £241,103 15. CREDITORS Due Within One Year Accruals Advance payment Deferred grants 2,411 2,411 23,284 £2,411 £25,695 17
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 16. UNRESTRICTED FUNDS DESIGNATED INCOME FUNDS lil Project Shortfall At l April 2023 2024 2023 59,000 59,000 Transfer fromlltol General Income Fund At 31st March 2024 59,000 59,000 lill Residential Investment At l April 2023 Transfer fromlltol General Income Fund 250,000 250,000 At 31st March 2024 250,000 250,000 Balance at 3 1 March 2024 £309,000 £309,000 17. UNRESTRICTED FUNDS.. GENERAL INCOME Balanee at 1st April 2023 346,885 354,300 Net Incoming loutgoingl Resources before Transfer8 Transfer from Itol Restricted Income Fund 128,7481 12,4171 3,995 1561 Gain Ilossl on revaluation of investments 13,250 111,3541 Balanee at 3 1 Mareh 2024 £328,970 £346,885
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 18. RESTRICTED FUNDS.. INCOME FUND Balance Movernent in Funds enditure Transfers Balance 31 st March 2024 1st April 2023 New Resources lil Reaching Communities - Big Lottery Fund 2019 Grant 5,488 69,851 175,9301 591 Illl Departrnent for Culture Media and Sport 23,142 110,202 12,940 Iilll London Borough of Southwark Main Fund 30,000 13 1,8841 1,884 livl LEAP Funds Girdlers Company 8,368 15,000 123,5551 187 Iv) Girdlers Company Trust 200 12001 I) Charterhouse Southern 8,000 14,708 3,292 Iviil Peter Minet Trust 1,481 11,4361 1451 Ivilll Southwark Healthy Food and Fun Programme 43,504 125,4521 18,052 lixl CIN - Youth Futures Foundation 16.500 18,7331 7,767 Ixl The Jaek Petehey Foundation'.- Award Scheme 3,791 7,200 14,8401 6,151 Ixil Nunhead and Peckham Rye Neighbourhood Fund 5,000 13,037 1,963 Ixlll st Olave's Foundation 2,078 11,750 328 Ixiiil London Youth - Summer Skills 2023 4,800 12,8831 1,917 19
WESTMINSTER HOUSE YOUTH CLUB NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2024 18. RESTRicfED FUNDS.. Balance Movement in Funds enditu re Balance INCOME FUND Ictdl I st April 2023 New Transfers 31st March Resources 2024 Ixivl London Borough of Southwark Football pitch - donated facility 10,089 11,009 9,080 Ixvl Grants for Minibus Purchases 22,299 16,398 15,901 (x) Young Volunteers (Duke of Edinburghl 12,667 111,9981 669 Ixviil Family Support Fund 6,497 250 1165 6,582 IJThTiiiI Solar Heating Fund 73,331 22,755 12,5641 93,522 £146 289 £246 002 £216 544 £178 164 19. RESTRICTED FUNDS.. EXPENDABLE ENDOWMENT FUND 2024 2023 Balance at I st April 2023 Transfer to general incorne 330,000 330,000 Balance at 3 1st March 2024 g330,000 £330,000 20. COMMITMENT The Management Committee has authorised expenditure of approximately £IOO,000 on installing a solar powered electric heating systern for the Club Prernises. At 3 1 March 2024 £68,400 had been spent and is capitalised as a red asset. 20