REGISTERED CHARITY NUMBER: 1195422
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR S.E.N.T
S.E.N.T
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Report of the Independent Examiners | 3 |
| Statement of Financial Activities | 4 |
| Statement of Financial Position | 5 |
| Notes to the Financial Statements | 8 to 14 |
S.E.N.T
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. 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).
OBJECTIVES AND ACTIVITIES
The objectives of the charity are:
-
1) The prevention or relief of poverty worldwide for the public benefit, through but not limited to:
-
a. The provision of advice, resources and services; and
-
b. The provision of food and fuel banks to those in need.
-
2) The advancement of education for the public benefit through the establishment, assistance and support of facilities for education.
-
3) To preserve and protect the physical and mental health of victims of domestic violence through such support as the trustees deem appropriate.
Public benefit
The charity's trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to Public Benefit guidance published by the Charity Commission. In planning the activities for the year, the trustees ensure that this is in line with this guidance.
ACHIEVEMENT AND PERFORMANCE
Commencement of charitable activities
On 1[st] April 2022 the Social Action activities of Jubilee Church London Ltd (Charity no. 1160372) were gifted to S.E.N.T in order to increase capacity and to help our social initiatives reach their full potential. Whilst Jubilee Church London continues to support the social action work of the charity, the long term aim for the charity is for it to be able to be self supporting in the years to come.
Charitable activities
Some of S.E.N.T’s highlights include
Foodbank
The North Enfield Foodbank, run in partnership with the Trussel Trust, operated weekly from Jubilee Central. It provides emergency food for families in need in the London Borough of Enfield. It also signposts clients to relevant organisations in order to help them out of the crisis they are in. During the year 240,450 meals were provided to 16,030 people (9,254 adults and 6,776 children). The foodbank worked with 243 referral agencies over the years, and the 90 volunteers together helped to give local people 161 tonnes of food. Generous support by way of food and resources from individuals and organisations from within Enfield continued throughout the year in recognition of the critical work being carried out by the Foodbank.
Enfield Debt Centre
This year, we assisted a total of 93 people referred to us from various services like the Foodbank, organisations within the London Borough of Enfield, and other debt support agencies like StepChange and Christian Against Poverty (CAP). The total debt held by the people assisted was £960,000. The Debt Centre continues to be a much needed support to many people in the local community.
The M6:8 Project (Domestic Abuse Crisis Support)
This service was set up as a direct response to the increased number of domestic abuse cases. Its aim is to provide support for anyone fleeing from domestic abuse as well as raising general awareness of domestic abuse. The service not only offers emotional support, but also the practical support of moving and re-housing of victims. During the year the project took on 100 new referrals, which meant 283 people in total were helped.
Enfield Fuel Bank
Working in partnership with the Fuel Bank Foundation, the Enfield fuel bank was launched in February 2021 to help as many people as possible benefit from fuel crisis support so that less people are left without access to domestic gas and electricity. Referrals come from various third-party organisations including the North Enfield Foodbank and Enfield local authority. During the year 847 vouchers were issued to those suffering from fuel poverty (a 276% increase from the previous year)
Page 1
S.E.N.T
REPORT OF THE TRUSTEES for the Year Ended 31 March 2023
ACHIEVEMENT AND PERFORMANCE – cont.
Smart Recovery
Smart Recovery was launched in August 2022, to help people in Enfield to be set free from addictions. Weekly meetings are held every Sunday afternoon, where attendees also share a meal. So far we have held 31 meetings that have been very beneficial to those attending – the feedback has been very encouraging and we plan on continuing and extending the Smart Recovery Group.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a constitution and constitutes a charitable incorporated organisation.
Organisational structure and relationship with Jubilee Church London
The trustees meet quarterly and have overall legal and financial responsibility for the Charity and are responsible for approving the budgets and monitoring on-going financial performance against the set budgets.
Jubilee Church London Ltd was originally responsible for the operation of the social action activities of SENT which have now transferred to this charity. SENT maintain a close working relationship with Jubilee Church London and share physical and human resources. All activities and financial management is being operated by staff employed by Jubilee Church London who are seconded to SENT.
FINANCIAL REVIEW
Income for the year totalled £360K which represented the restricted funds transferred from Jubilee Church London Ltd, gifts from the church and monies given by organisations and individuals to directly support the work of the charity. Total expenditure for the year was £215K, this represents costs incurred directly to support of beneficiaries as well as support costs.
Total surplus for the year was £145K, which is represented by net current assets of £134K and tangible fixed assets of £11K.
Reserves policy
The charity’s only holds restricted reserves, these are sufficient to cover nine months of costs. The charity is supported by Jubilee Church London Ltd (Charity no. 1160372) who have pledged to support the charity’s operations for the foreseeable future, whilst SENT works towards becoming financially independent.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
1195422
Principal address
Jubilee Church 2 Lumina Way Enfield EN1 1FS
Trustees
S Emsley P Okenabirhie M Legg O Itoje – appointed 8[th] May 2024
02 Aug 2024
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
Stuart Emsle y ............................................. S.E.N.T.- Documents to Sign (Aug 2, Stuart Emsley -Trustee 2024, 9:07am)
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SENT
Independent examiner's report to the trustees of S.E.N.T.
I report to the charity trustees on my examination of the accounts of SENT for the year ended 31 March 2023. Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the list bodies.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the charity's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my 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 Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Michael Cooper-Davis FCCA ACA Price Baily LLP Chartered Accountants 24 Old Bond Street London W1S 4AP
6 August 2024 Date: .............................................
Page 3
S.E.N.T
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Investment income 3 Total EXPENDITURE ON Charitable activities 4 Charitable activities Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 28,591 - 28,591 28,591 28,591 - - - - - |
Restricted funds £ 330,682 536 331,218 186,375 186,375 144,843 - 144,843 - 144,843 |
31.3.23 Total funds £ 359,273 536 359,809 214,966 214,966 144,843 - 144,843 - 144,843 |
31.3.22 Total funds £ - - |
|---|---|---|---|---|
| - | ||||
| - | ||||
| - | ||||
| - - |
||||
| - - |
||||
| - |
Page 4
S.E.N.T.
STATEMENT OF FINANCIAL POSITION
At 31 March 2023
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Debtors 10 CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Restricted funds: North Enfield Foodbank Fuel Bank Foodbank Vehicle TOTAL FUNDS |
Unrestricted Restricted funds funds £ £ - 11,036 - 136,207 - 136,207 - (2,400) - 133,807 - 144,843 - 144,843 02 Aug 2024 |
31.3.23 Total funds £ 11,036 136,207 136,207 (2,400) 133,807 144,843 144,843 112,506 21,301 11,036 144,843 |
31.3.22 Total funds £ - - - - - - - - - - - |
|---|---|---|---|
The financial statements were approved by the Board of Trustees on ............................................. and were signed on its behalf by:
Stuart Emsle ............................................. y S.E.N.T.- Documents to Sign (Aug 2,Stuart Emsley -Trustee 2024, 9:07am)
The notes form part of these financial statements
Page 5
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements and assessment of going concern
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
Critical accounting judgements and key sources of estimation uncertainty
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
Income
Recognition of income
These are included in the Statement of Financial Activities (SOFA) when:
-
The charity becomes entitled to the resources;
-
The trustees consider it probable that they will receive the resource;
-
The monetary value can be measured with sufficient reliability
Donations
Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Tax reclaims on individual donations
Income from tax reclaims are included in the SOFA at the same time as the donations to which they relate.
Investment income
This is included in the accounts when receivable.
Expenditure
All expenditure is accounted for on an accruals basis and, in accordance with the requirements of the SORP, and has been classified under headings that aggregate all costs relating to that category.
Donated food
The charity benefits from donations of food which are distributed as part of its charitable activities. Food donations are high-volume, low-value items which, together with the impracticality of maintaining a detailed stock control system, renders the initial valuation of every donation is impractical.
As the charity does not sell donated food and the items have ‘nil’ value when given to beneficiaries as they are frequently close to or past sell by dates, the trustees consider that donated food has a nil value when distributed hence no corresponding sums of expenditure are recognised in the accounts.
Page 8
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
1. ACCOUNTING POLICIES – continued
Tangible fixed assets
Depreciation is provided on tangible fixed assets and rates are calculated to write off the cost of each asset evenly over its expected useful life, as follows;
Motor vehicles over 5 years from initial purchase
Taxation
The charity is exempt from tax on its charitable activities.
Debtors
Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
Creditors
Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement amount
Fund accounting
Restricted funds
The restricted funds are available for expenditure on specific projects in accordance with the donors' directions.
General funds
These are unrestricted funds available to the Church for everyday operations.
Pension costs and other post-retirement benefits
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 9
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
2. DONATIONS AND LEGACIES
| Unrestricted funds £ Gifts and donations 500 Grants - Donations from Jubilee Church London Ltd 28,091 Initial transfer of assets to charity - 28,591 3. INVESTMENT INCOME Unrestricted funds £ Deposit account interest - 4. CHARITABLE ACTIVITIES COSTS Charitable activities 5. DIRECT COSTS OF CHARITABLE ACTIVITIES Staff costs Rent Communication costs Printing and stationery Publicity and literature Training costs Equipment Conference costs Insurance Travelling Membership (subscriptions) fee Licence fees Premises expenses Miscellaneous motor expenses Refreshments and catering Professional fees Website hosting Repairs and renewals Gifts and donations paid Independent examiners fee Depreciation |
Restricted funds £ 84,684 42,000 85,951 118,047 330,682 Restricted funds £ 536 Direct Costs (see note 5) £ 214,938 |
31.3.23 Total funds £ 85,184 42,000 114,042 118,047 359,273 31.3.23 Total Funds £ 536 Support costs (see note 6) £ 28 31.3.23 £ 129,058 8,243 1,158 428 447 1,434 22,300 321 8,552 2,696 1,315 5,557 850 2,092 3,163 626 66 19 18,696 2,400 5,517 214,938 |
31.3.22 Total funds £ - - - - - 31.3.22 Total Funds £ - 2023 Totals £ 214,966 31.3.22 £ - - - - - - - - - - - - - - - - - - - - - - |
|---|---|---|---|
Page 10
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
6. SUPPORT COSTS
Charitable activities |
Finance £ 28 28 |
2023 Totals £ 28 |
|---|---|---|
| 28 |
7. TRUSTEES' REMUNERATION AND BENEFITS
Trustees' remuneration and benefits
There were no trustees’ remuneration or other benefits paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
Trustees' expenses
There were no trustees’ expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
8. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.3.23 £ 114,603 11,076 3,379 129,058 |
31.3.22 £ - - - - |
|---|---|---|
No employee earned in excess of £60,000 per annum.
The average monthly number of full time equivalent employees during the year was as follows:
| 31.3.23 | 31.3.22 |
|---|---|
| 5 | - |
Page 11
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
9. TANGIBLE FIXED ASSETS
| COST Additions At 31 March 2023 DEPRECIATION Charge for year At 31 March 2023 NET BOOK VALUE At 31 March 2023 At 31 March 2022 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Balances held on behalf of the charity 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses |
31.3.23 £ 136,207 136,207 31.3.23 £ 2,400 2,400 |
Motor vehicles £ 16,553 16,553 5,517 5,517 11,036 - 31.3.22 £ - - 31.3.22 £ - - |
|---|---|---|
Page 12
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
12. MOVEMENT IN FUNDS
| Unrestricted funds General funds Restricted funds North Enfield Foodbank Fuel Bank Foodbank Vehicle TOTAL FUNDS Net movement in funds, included in the above are Unrestricted funds General funds Restricted funds North Enfield Foodbank Fuel Bank Henry Housing SMART Recovery Debt Fund School Uniform fund Project M6:8 Re-Work fund Foodbank Vehicle TOTAL FUNDS |
Net Transfers movement between At 1.4.22 in funds funds £ £ £ - - - - - - - 112,506 - - 21,301 - - 11,036 - - 144,843 - - 144,843 - as follows: Incoming Resources resources expended £ £ 28,591 (28,591) 28,591 (28,591) 179,591 (67,085) 25,639 (4,338) 3,545 (3,545) 2,144 (2,144) 31,718 (31,718) 5,939 (5,939) 55,628 (55,628) 10,461 (10,461) 16,553 (5,517) 331,218 (186,375) 359,809 (214,966) |
At 31.3.23 £ - - 112,506 21,301 11,036 144,843 144,843 Movement in funds £ - - 112,506 21,301 - - - - - - 11,036 144,843 144,843 |
|---|---|---|
Page 13
S.E.N.T
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED for the Year Ended 31 March 2023
12. MOVEMENT IN FUNDS – continued
Comparatives for movement in funds
| Unrestricted funds General funds TOTAL FUNDS Comparative net movement in funds, included in Unrestricted funds General funds TOTAL FUNDS |
At 1.4.21 £ - - - the above are as |
Net movement in funds £ - - - follows: Incoming resources £ - - |
Transfers between funds £ - - - Resources expended £ - - |
At 31.3.22 £ - - - Movement in funds £ - - |
|---|---|---|---|---|
Restricted funds:
North Enfield Foodbank - monies given to support the running of the North Enfield Food Bank, these funds were transferred from Jubilee Church London (charity no. 1160372) at the beginning of the financial year. Fuel bank – monies given to support beneficiaries of the Foodbank facing fuel crisis, these funds were transferred from Jubilee Church London (charity no. 1160372) at the beginning of the financial year.
Henry Housing – this fund was initially set up to provide accommodation and support for homeless ex-offenders and to assist their reintegration into community. This fund was closed during the year.
SMART Recovery – monies given to support the running of SMART recovery, a programme designed to help those with addictive behaviours.
Debt Fund – monies given to support the running of the Enfield Debt Centre, a programme set up to bring solutions to families and individuals in financial difficulties.
School Uniform Fund – monies given to towards the support of families who need assistance with the purchase of school uniforms for their children.
Project M6:8 – monies given to support the running of the Domestic Abuse project.
Re-Work Fund – monies given to support the assistance of individuals into employment.
Foodbank Vehicle – net book value of a van provided to assist in the running of the North Enfield Foodbank, these funds were transferred from Jubilee Church London (charity no. 1160372) at the beginning of the financial year.
13. RELATED PARTY DISCLOSURES
The charity shares two trustees in common with Jubilee Church London Ltd (Charity no. 1160372) Mr M Legg, Mr O Itoje and Mr P Okenabirhie. During the year Jubilee Church London (JCL) transferred £118,042 of assets and funds relating to the operations of SENT activities, which were carried forward as at 1[st] April 2022. In addition to this, donations of £114,042 have been made from JCL to the charity to cover operational costs. JCL is currently holding balances for the charity in its own accounts of £136,207.
Page 14