2022-03-31-accounts

Index
Report ofthe Board ofTrustees (including the Strategic Report)	3-16
Statement ofthe Trustees’ Responsibilities	17
Report ofthe IndependentAuditors	18-20
Statement of Financial Activities	21
Balance Sheet	22
Cash Flow Statement	23
Notes to the Financial Statements	24- 43
Legal and Administrative details	44

1.	Overview-the impactofthesecondyearofCovid-19 on ouroperations	4
2.	Achievements, Performance andFuture Plans	5
	a) reduce social isolation andloneliness	5 -	6
	b) help people who are experiencing difficulties	6 -	7
	c) enable older people to be active andhealthy	B -	9
	d) create and sustain an environmentthatsupports ourmission	9 -	10
3.	FinancialReviewandResults forthe Year	10	- 11
4.	Principal Risks and Uncertainties	17	- 12
5.	FinancialManagementPolicies
	a) reserves	72	- 13
	b) investmentpolicies andperformance	13- 14
	c) investment properties	14
6.	Structure, Governance andManagement	14	- 15

22 August 2022

			Restricted
		Unrestricted	Income	Endowment	Total	Total
		Funds	Funds	Funds	2022	2021
	Notes	£	£	£	£	£
Income from:
Donations and legacies	2	118,775		-	118,775	162,472
Charitable activities	5	658,611	551,503	-	1,210,114	1,101,690
Othertrading activities	3	108,343		-	108,343	53,758
Investments	4	17,426	341,271	-	358,697	277,678
Other	19	-	689,037	(689,037)	-	-
Total income		903,155	1,581,811	(689,037)	1,795,929	1,595,599
Expenditure on:
Raising funds	6	412,036	-	70,847	482,883	385,487
Charitable activities	7	433,534	1,746,968	-	2,180,501	2,034,055
Total expenditure		845,570	1,746,968	70,847	2,663,384	2,419,542
Operating (Deficit)ISurplus		57,585	(165,157)	(759,884)	(867,455)	(823,944)
Net gains/(losses) on investments	14	22,971	182	839,988	863,141	3,619,048
Gain on revaluation of Investment
Properties	13	533,000	-	-	533,000	384,000
Net (expenditure)Iincome	9	613,556	(164,975)	80,104	528,686	3,179,104
Reconciliation offunds
Totalfunds broughtforward	r 19	15,778,670	256,886	17,133,319	33,168,875	29,989,771
Total funds carried forward	r 19	16,392,226	91,911	17,213,423	33,697,561	33,168,875

			2022	2022	2021	2021
		Notes	£	£	£	£
FIXED ASSETS
Tangible assets		12		862,345		871,352
Investment Properties		13		14,891,000		14,358,000
Investments		14		17,890,214		17,797,930
TOTAL	FIXED ASSETS			33,643,559		33,027,282
CURRENT ASSETS
Debtors		15	155,409		125,537
Cash at bank and in hand		16	85,957		197,072
Cash at COIF Charities	Deposit Fund	16	-		32
TOTAL CURRENT ASSETS			241,366		322,640
LIABILITIES
Creditors - amounts falling due within
oneyear		17	187,364		181,047
NET CURRENT ASSETS				54,002		141,593
TOTAL NET ASSETS		20		33,697,561		33,168,875
The funds ofthe charity:
Restricted funds
Endowmentfunds			17,213,423		17,133,319
Restricted income funds			91,910		256,886
				17,305,333		17,390,205
Unrestricted funds
Free Reserves			638,883		549,318
Investment Properties Reserve			14,891,000		14,358,000
Fixed Asset Reserves			862,345		871,352
				16,392,228		15,778,670
	TOTAL FUNDST 19			33,697,561		33,168,875

	Notes	2022	2022	2021	2021
		£	£	£	£
Cash flows fromoperating activities
Netcash providedby(used in) operating activities	21		(1,109,140)		(988,803)
Cash flows from investing activities:
Dividends and interestfrom investments		18,644		31,210
Income and capital withdrawals from investments		1,030,000		970,000
Purchase oftangible fixed assets	12	(50,652)		(12,443)
Netcashprovidedby(used in) investing activities			997,992		988,767
Change in cash andcash equivalents
in the reportingperiod			(111,147)		(36)
Cash and cash equivalents atthe beginning
ofthe reporting period			197,104		197,140
Cashandcash equivalents atthe end
ofthe reportingperiod	16		85,957		197,104

a capital fund. It is distinguishable f the funds until the Charity Trustees	rom unrestricted decide to.	funds in that th	ere	is no requiremen	t to spend
	Unrestricted	Restricted		Total	Total
	Funds	Funds		2022	2021
	£	£		£	£
2. DONATIONS AND LEGACIES
Legacy income	5,000		-	5,000	4,208
Donations and covenants	113,775		-	113,775	158,265
	118,775		-	118,775	162,472
				Unrestricted	Unrestricted
				Funds	Funds
				2022	2021
3. OTHER TRADING ACTIVITIES				£	£
Rental Income				36,213	32,606
Drake House				10,624	-
Charity Shop (see note)				45,972	18,732
Fundraising events				15,534	2,420
				108,343	53,758

4. INVESTMENTS	Unrestricted	Restricted	Total	Total
	Funds	Funds	2022	2021
	£	£	£	£
Bank and Building Society
accounts	593	1,240	1,833	1,376
Dividends receivable from in the
UK	16,833	267,390	284,222	179,536
Dividends receivable from
outside the UK	-	72,642	72,642	96,766
	17,426	341,271	358,697	277,678
5.CHARITABLE ACTIVITIES	Unrestricted	Restricted	Total	Total
	Funds	Funds	2022	2021
	£	£	£	£
Income
Community Services	33,413		33,413	9,343
Talking Therapies	74,903		74,903	75,976
Housing Rents	544,513		544,513	537,885
Other	3,777		3,777	329
	656,606	-	656,606	623,534
Grants
London Borough of Merton	-	274,566	274,566	294,803
South West London & St	-	78,902	78,902	78,902
George’s Trust
Sutton & Merton CCG	-	89,407	89,407	-
Charitable Fund
Merton Clinical Commissioning	-	38,000	38,000	25,000
Group
Age UK Merton	-	31,232	31,232	10,800
London Community Fund	-	-	-	10,000
South West London Trains	-	15,000	15,000	15,000
The Wimbledon Foundation	-	-	-	5,000
Generations Trust	-	-	-	5,000
Merton Moves	-	20,000	20,000	11,500
Other	2,005	4,395	6,400	22,152
	2,005	551,503	553,508	478,156
Total CharitableActivities	658,611	551,503	1.210.114	1,101690

		Direct	Support	Total	Total
		Costs	Costs	2022	2021
			(Note 8)
6. EXPENDITURE ON RAISING		£	£	£	£
FUNDS
Charity Shop		88,472	20,970	109,442	79,940
CostsofFundraising	103,180		60,889	164,069	177,634
Investment Management		88,336	-	88,336	77,344
Fees
Drake House		48,119	21,154	69,272	16,629
Other(lnvestment&	(15,411)		67,175	51,764	33,941
Marketing)
	312,696		170,188	482,883	385,487
		Direct	Support	Total	Total
		Costs	Costs	2022	2021
			(Note 8)
7. EXPENDITURE ON CHARITABLE		£	£	£	£
ACTIVITIES
Community Services
		707,667	238,003	945,670	759,742
Talking
Therapies		415,400	149,275	564,675	570,208
Housing
		188,738	66,970	255,708	280,961
Social Work (including Grief
		201,397	75,189	276,586	308,363
Support Services)
Other
		137,862	-	137,862	114,782
		1,651,064	529,437	2,180,501	2,034,055

		FOR THE YEAR END	FOR THE YEAR END	ED 31 MAR	CH 2022
8.	SUPPORT COSTS	BY ACTIVITY
	(Notes 6 and 7)	Staff	Governance	General	Facilities	2022	2021
		Costs	Costs	Office	Costs	Total	Total
				Costs
		£	£	£	£	£	£
	Community	105,538	27,990	80,439	24,037	238,003	210,428
	Services
	Talking Therapies	61,701	12,349	52,201	23,023	149,275	133,088
	Housing	28,094	10,335	8,466	20,075	66,970	66,317
	Social Work	42,291	6,380	19,906	6,612	75,189	64,105
		237,624	57,054	161,011	73,748	529,437	473,938
	Raising funds	94,586	34,424	36,462	4,716	170,188	158,000
		332,210	91,478	197,473	78,464	699,625	631,938

This is stated after charging:	2022	2021
	£	£
Operating leases	33,221	32,284
Depreciation (see note 12)	59,659	59,709
Auditor’s remuneration:
Audit fees	15,750	14,700

10.	STAFF COSTS
	Staff costs during the yearwere as follows:
		2022	2021
		£	£
	Wages and salaries	1,362,617	1,278,200
	Social security costs	129,421	121,348
	Pensions	71,261	65,750
	Other benefits	15,990	15,990
		1,579,289	1,481,288

The average monthly headcount was 50 staff (2021-4 equivalent staffanalysed by	7 staff) and the average number offull-	time
function was:-	2022	2021
	No.	No.
Direct charitable	26.9	25.9
Raising Funds	4.1	4.2
Governance and Support	7.4	6.8
	38.4	36.9

The emp were:	loyees who had emoluments, excluding p	ension contributions, exceeding £60,000 in	the year
		2022	2021
		No.	No.
£60,001	-70,000	3
£70,001	-80,000	-
£80,001	- £90,000	1	1

	FOR TH	E YEAR END	ED 31 MAR	CH 2022
12.	TANGIBLE FIXED ASSETS	Land	Plant
		and	and	Motor
		Buildings	Equipment	Vehicles	Total
		£	£	£	£
	Cost/valuation
	At 1 April 2021	1,208,476	309,398	20,000	1,537,874
	Additions	16,140	34,512	-	50,652
	Transfer from Investment Properties
	Write offs
	As at 31 March 2022	1,224,616	343,910	20,000	1,588,526
	Accumulated Depreciation
	At 1 April 2021	425,298	221,224	20,000	666,522
	Charge for the	25,507	34,153	-	59,659
	year
	Write offs
	As at 31 March 2022	450,805	255,377	20,000	726,182
	Net Book Values
	As at 31 March
	2022	773,811	88,534	0	862,345
	As at 31 March
	2021	783,178	88,174	0	871,352

14.	FIXED ASSET INVESTMENTS	2022	2022	2022	2021
		In the	Outside	Total	Total
		UK	the UK
	Listed	£	£	£	£
	Investments
	Market value at 1 April 2021	5,118,738	11,493,078	16,611,816	14,738,218
	Additions	18,814,566	129,634	18,944,200	6,277,586
	Disposals	(6,960,006)	(11,769,185)	(18,729,191)	(8,023,036)
	Net Investment (loss)! gain	(540)	863,681	863,141	3,619,048
	Market value at 31 March	16,972,758	717,208	17,689,966	16,611,816
	2022
	Accrued income		-	-	5,031
	Cash Held for Investment	200,248	-	200,248	1,181,085
	Investments at 31 March
	2022	17,173,006	717,208	17,890,214	17,797,931
	Historical cost at 31 March
	2022	17,242,902	(4,289)	17,238,613	20,867,143

15.	DEBTORS	2022	2021
		£	£
	Trade Debtors	8,622	12,272
	Other Debtors	81,768	43,470
	Prepayments	65,019	69,794
		155,409	125,537

16.	CASH
		2022	2021
		£	£
	Cash in hand and at bank
		85,957	197,072
	Cash at COIF Charities Deposit Fund
		-	32
		85,957	197,104
17.	CREDITORS -amounts falling due within	2022	2021
	one year
		£	£
	Trade Creditors	105,526	84,165
	Other Creditors	48,097	50,088
	Accruals and deferred income (see below)	33,742	46,795
		187,364	181,048
	Deferred Income movement:		2022
			£
	Balance at 1 April 2021		5,969
	Amount released to income earned from charitable and other trading activities		(5,969)
	Amount deferred in the year		3,082
	Balance at 31 March 2022		3,082

18.	FINANCIAL INSTRUMENTS	2022	2021
		£	£
	Financial assets measured at cost	193,637	252,846
	Financial liabilities measured at cost	153,622	134,253

19. FUNDS
					Net	Rev’n				Balances
2022	1	April	Incoming	Resources	Inv’mnt	of		Trers		31 March
	2021		resource	Expended	gn’sI(Ios’s	Props				2022
			s
		£	£	£	£	£		£		£
Endowments
Expendable
Endowment	17,133,319		(689,041)	(70,847)	839,988					17,213,418
Restricted Income	Funds
Welfare Fund		40,687	97,816	(59,561)	-				-	78,943
Merton Strategic
Partnership -		-	48,500	(48,500)	-				-	-
Wellbeing Support
Merton Strategic
Partnership -Talking		-	48,500	(48,500)	-				-	-
Therapies
SWLSTG Merton
Uplift -Wellbeing			78,902	(78,902)	-				-	-
Support
The Merton COVID
19 Community		-	89,407	(89,407)	-				-	(0)
response Hub
Winter, Warm &
Well Grant		6,839	84,150	(83,298)	-				-	7,691
Musical Movement		1 1 347	-	(1,943)	-				-	9,404
Rosemary Lodge
Fund		1,531	-	-	-				-	1,531
Befriending (Age
UK Merton)		-	31,232	(26,027)	-				-	5,205
The Wimbledon
Foundation - SW		-	15,000	(15,000)	-				-	-
Trains CE Grant
Wimbledon
Convalescent Home		14,457	308		184					14,949
Merton Moves		11,500	20,000	(28,875)					-	2,625
NHS Merton CCG
(GriefSupport)		-	38,000	(38,000)
Expendable
Endowment capital			689,041	(699,242)					-	(10,202)
distribution
Special Trust
income (Cazenove)	170,519		340,959	(529,711)					-	(18,233)
Total Restricted
income	256,881		1,581,815	(1,746,967)	184		-		-	91,914

	FOR T	HE YEAR	ENDED 31 M	ARCH 20	22
Unrestricted funds
General Fund
	549,319	903,155	(785,912)	22,970		(50,649)	638,884
Fixed Asset
Reserve	871,355	-	(59,658)			50,649	862,345
Investment
Properties Reserve	14,358,000		-	-	533,000	-	14,891,000
Total Unrestricted
Funds	15,778,674	903,155	(845,570)	22,970	533,000	-	16,392,229
Total Funds	33,168,874	1,795,929	(2,663,384)	863,142	533,000	-	33,697,561

	FOR THE YEAR ENDED 31 M	FOR THE YEAR ENDED 31 M	FOR THE YEAR ENDED 31 M	FOR THE YEAR ENDED 31 M	ARCH 2022
The 2021 movement in	funds comparatives are as follows:
	Restated				Net	Revn		Balances
2021	1	April	Incoming	Resources	Inv’mnt	of	Tr’ers	31 March
	2020		resources	Expended	gnsl(Ioss)	Props		2021
		£	£	£	£	£	£	£
Endowments
Expendable
Endowment	14,355,872		(643,478)	(76,671)	3,497,596		-	17,133,319
Restricted Income Funds
Welfare Fund		14,385	40,149	(13,846)	-		-	40,688
LBM Public Health		-	16,500	(5000)	-		-	11,500
Merton Strategic
Partnership -		-	48,500	(48500)	-		-	-
Welbeing Support
Merton Strategic
Partnership -Talking		-	48,500	(48,500)	-		-	-
Therapies
SWLSTG Merton
Uplift -Wellbeing		-	78,901	(78,901)	-		-	-
Support
The Merton
COVID-19		-	67,572	(67572)	-		-	-
Community
response Hub
Winter, Warm &
Well Grant		-	85,232	(78,392)	-		-	6,839
Musical Movement		13,739	943	(3,335)	-		-	11,347
Rosemary Lodge
Fund		1,531		-	-		-	1,531
Befriending (Age
UK Merton)		-	10,800	(10,800)
South West Trains
Grant		-	15,000	(15,000)
The Wimbledon Foundation
			2,500	(2,500)
Wimbledon
Convalescent Home		12,386	306	-	1,769		-	14,461
LBM restrictions
Support Grants -		-	21,060	(21,060)
Café & Shop
NHS Merton CCG
(GriefSupport)		-	25,000	(25,000)
Generations Trust
		-	5,000	(5,000)
London Community
Fund		-	10,000	(10,000)
Expendable Endowment
capital distribution		-	643,478	(643,478)
Special Trust income
(Cazenove)		-	246,464	(75,945)	-		-	170,519
Total Restricted
income		42,041	1,365,904	(1,152,828)	1,769	-	-	256,886
								32

Unrestricted funds
General Fund
	699,240	873,172	(1,130,334)	119,684		(12,443	549,318
Fixed Asset
Reserve	918,618	-	(59,709)			12,443	871,352
Investment
Properties Reserve	13,974,000		-	-	384,000	-	14,358,000
Total Unrestricted
Funds	15,591,858	873,172	(1,190,043)	119,684	384,000	-	15,778,670
Total Funds
	29,989,771	1,595,598	(2,419,542)	3,619,049	384,000	-	33,168,875

20. ANALYSIS FUNDS	OF NETA	SSETS BETWE	SSETS BETWE	SSETS BETWE	E	N
		Investment
	General	Properties				Fixed	Endowmen	Restricted		Total
						Asset	t
2022	funds	Reserve			Reserve		funds	income	funds	2022
	£		£			£	£	£		£
Tangible						862,345				862,345
Fixed Assets
Investment		14,891,000								14,891,000
Properties
Investments	584,882						17,213,418		91,914	17,890,213
Netcurrent	54,002									54,002
assets
Total	638,884	14,891,000				862,345	17,213,418		91,914	33,697,561
2021										2021
	£		£			£	£	£		£
Tangible
Fixed Assets	-			-		871,352	-		-	871,352
Investment
Properties	-	14,358,000				-	-		-	14,358,000
Investments
	407,725			-		-	17,133,319	256,886		17,797,930
Netcurrent
assets	141593			-		-	-		-	141,593
Total	549318	14,358,000				871,352	17133,319	256,886		33,168,875
21. CASH FLOW INFORMATION
RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES
								2022		2021
								£		£
Net (Expenditure)/lncome forthe			reporting		period (as per
the Statement offinancial activities)								528,686		3,179,104
Adjustments for:
Depreciation charges (Note 12)									59,659	59,709
Unrealised and realised losses/(gains)				(Note		14)		(863,141)		(3,619,048)
Investment Property Revaluation			(Note 13)					(533,000)		(384,000)
Investment income shown		in investing		activities (Note 4)				(359,606)		(277,678)
Investment fees	shown in investing activities					(Note 19)			81,819	76,671
(Increase) I Decrease in debtors								(29,872)		3,927
Increase I (Decrease) in short term creditors									6,315	(27,489)
Netcashprovidedby(usedin)			operating
activities								(1,109,140)		(988,803)

FOR THE YEAR ENDED 31 MA	RCH 2022
22. HISTORICAL COSTS OF NET MOVEMENT IN FUNDS	2022	2021
	£	£
Net movement in funds
	528,686	3,179,104
Revaluation of Investment Properties (Note 13)
	(533,000)	(384,000)
Unrealised (gain)/loss on investments (Note 14)
	(863,135)	(3,619,048)
Net movement offunds on a historical cost basis	(867,450)	(823,944)

At 31 March leases:	2022	2, the char	ity had	the follo	wing commitments under	non-cancellable	operating
						2022	2021
							Restated
						£	£
Obligations	under	operating	leases	expiring	in less than one year	29,312	30,270
Obligations	under	operating	leases	expiring	in one to five years	40,998	69,392
Obligations	under	operating	leases	expiring	after five years
						70,310	99,662

	Restated	Restricted	Restricted
	Unrestricted		Income	Endowment	Total
	Funds		Funds	Funds	2021
Income	£		£	£	£
from:
Donations and legacies	162,472				162,472
Charitable activities	626,034		475,656		1,101,690
Other trading activities	53,758				53,758
Investments	30,908		246,770		277,678
Other	-		643,478	(643,478)	-
Total income	873,172	1	365,904	(643,478)	1,595,599
Expenditure on:
Raising funds	308,816		-	76,671	385,487
Charitable activities	881,227	1,152,828		-	2,034,055
Total expenditure	1,190,043	1,152,828		76,671	2,419,542
Operating
(Deficit)/Surplus	(316,871)		213,076	(720,149)	(823,944)
Net gains/(Iosses) on
investments	119,683		1,769	3,497,596	3,619,048
Gain on revaluation of
Investment Properties	384,000		-	-	384,000
Net
(expenditure)!income	186,812		214,845	2,777,447	3,179,104
Reconciliation offunds
Total funds brought
forward	15,591,858		42,041	14,355,872	29,989,771
Total funds carried
forward	15,778,670		256,886	17,133,319	33,168,875

were -
						2022	2021
							Restated*
						£	£
Obligations	under	operating	leases	expiring	in less than one year	502,560	496,287
Obligations	under	operating	leases	expiring	in one to five years	4,617	15,348
Obligations	under	operating	leases	expiring	after five years	-	-