Wimbledon Guild WIMBLEDON GUILD OF SOCIAL WELFARE ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2023 Company No. 383330 Reglstered Charity No. 200424 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarant60) Indox Report olthe Board of Trustoes (including tho Stratègic Roport) ........................ >16 Statemont of the Trustses, Responsibilities........................-............................. 17 Roport of tho Indep•ndent Auditors....................... .................................-...... 18.20 Statoment of Financlal A¢tivitlOS..................................................................... 21 8alance SheeL............................................................................................ Cash FI￿ Statemont..................................................................................... 23 Notes to th• Flnanclal Stat•mentg................................................................... 2442 L•gal and Admln5strallv• d•tall8...................................................................... MBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES TABLE OF CONTENTS l. Overylew- emerging from Covid and looking ahead 2. Achlevements, Porft)miance and Future Plans Tackling loneliness and soclal isolation in Merton. Supporting people in Merton wt)0 are experiencing difficulties in life. Supporting older people in Merton to live full. active, and healthy lives. Creating a v￿lCom1￿j community which supports our aims. 3. Flnanclal Revlew and Results for the Year io 4. Prlnclpal Rlsks and Uncertalnties 5. Flnanclal Management Pollcl•s 13 a) reserves b) inveslm8nl poliC￿S and p8rf￿Manc8 c) inveslmenl iyoperties 6. Structurn. Governance and IAanagwnent 15 WIMBLEDON GUILD OF SOCIALWELFARE (a company limited by guarantee) The Trustees of Wimbledon Guild of Social Welfare present their Annual Report for Ihe year ended 31 March 2023 und8r the Charities Act 2011 arrfl the Companies Act 2006. including the Directors, Report and the Strategic Report th6 2006 together wilh the audited financial statements for the year. Alms and Objectivos Wimbledon Guild was established in 1907 to provide financial. sorial and practical support for Ihe diverse communities in the Wimbledon area. Wimbledon Guikj's purposes, as sel out in tha objects contained in the Articles of Association are.. "To promote all or any charit8ble purposes fv the benefft of Wimbledon and Districl and the communi1￿5 thereor. In practice, this means that Wimbledon Guild operates primarily throughout the London Borough of Merton. Our mission is to create a physical and emotional place.. "Where no one has to faco Ilh's chall•ng•s alon•". Our services focus on: Tackling lon81iness and social isolation In Merton. Supporting people in Merton who are experienciro difficulties in life. Supporting old8r people in Merton lo live full. acts've and healthy lives. These three service objectives are underpti)ned by a fwrth oiiective deS￿bIng our culture and environment.. Creating a welcoming c(￿mUnIty whith supwrts our aims. Slatement of Publlc Boneflt The Trustees have complied with the duty in seclion 1715) of th8 Charities Act 201110 have due regard to public benefit guidance published by the Charity Commission. All aspects of Wimbledon Guild's work are open to the people of the London Borough of Merton (LBMI, and Wimbledon Guild continues lo provide an extensive range of social v￿lfare services, working in partnership wlth numerous voluntary and slalutory organisalions. Strateglc Rèport 1. Overvlew ol Ihe Morton sltuatlon after the Covid Pandemlc The London Borough of Merton has a distinct demcgr8phy. Wards in the W8St (Wimbledon, Raynes Park) lend to have m¢ye affluent and okler populalions. Wards in Ihe East (Mitcham, Mordenl lend lo have a younger, m(Ke 8thni¢ally diverse populations, vrilh highef levels of deprivation. We aim to meet Ihe needs of all local people following the pallems of local demand. Typically. our services for older people lend to be focussed in the Wesl of the borough and services tackling poverty and supwting mental heallh lend to be focJJssed in the East of the Borough. 2022 - 23 marked the start of Wimbledon Guild's new five-y8ar business plan, created wilh a s8nse thal the worst of Covid was n¢)w behind us. However. the lirMJering e(x)nomi¢ and health WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) effect5 of the pandemic remained. and these have led lo delays in th8 implementation of some of our proposed capital projects and investment initiatives. The business plan made varK)us assumptions a￿ul income and expenditure, but there have been significant variances in the first year of the plan. We have been more successful in securing grant funding than the previous year £706.264 Compared lo £553,508 bul investments have perfomied poorly, and the value of our property portfolio has fallen slighuy. This has affecled our plans for disposals and has also delayed the redevelopment of the Guild and Drake House sites, as property developers are currently very Cautious about new projects. Despite the delays with our larger redevebpment project. we have plans to lease a double shop unit in central Morden. We will use property to deliver $8rvices to people who struggl8 lo come lo Wimbledon. We believe that this will be an ex￿lIent way lo improve the service, expaTrJ our offering and reach more customers in the Easl of Merton. The propety requires extensive refurbishmenl, which we aim to compl8te by late autumn 2023. 2. Achlevements. Perfomiance and Future Plans Many a¢livities and services ar8 now exceeding pre-pandemic levels of demand. as we witness the long-lerm mental health and financial difficulties resulting from COVKI - bul also. more posilively. clients, ren8wed desire lo participate in in-person aclivilies. Mosl staff now work from Guild House most of the time, with home workir¥J availab18 to respond to family or caring issues or to facjlilale complex analylic81 or I￿l￿en work. a) Reduce soclal Isolatlon and lonelln•ss. Backgmund Reducing Social isolation and loneliness is a uoss-cutting theme which consistently guide8 much of our work. Our Community SeNces' lolal client and inleraction numbers have increased substantially this year. (2020121 2,800". 2021122 1,618, 2022123 3,500). This is due to Sb3nifKantly expanded attendance at activities and increased calls to the Community Hub lour helpline service funded by Ihe London Borough of M8rton), primarily linked lo cosl-of-living difficulties. Data suggests that around half of Hub cAllers are from the East of Merton. Nel of Hub interactions, the Communily servic85 team supported 1,948 dients in the year.. pre-covid tr￿Y averaged around 1,7C(i each year. What we have achleved and how we have achieved it Befriendin Demand lor our Befriending Service has continued to increase. even allowing for a pause in new applications in quarter 3 whilst we updated policies and procedures. Pre Covid the annual total was around 110 clients.. in the last year we prowded 172 clients wilh a service. The nature of befriending referrals has Changed since the pandemic. with more clienls aged under 65. Typically, new Glients have higher support needs and fflore complex health issues than in the past. Clients are now also spread rn0￿ evenly across Merton. wilh 46% coming from the mor8 deprived wards in the East of the borough. 31 % of dients now identrfy as Black or Minority Ethnic {BAME) compared to 21% in 2018119. We are also seeing more male clients - 40%. in conlrast lo 260/¥ in 2018119. We attribute this l)oth lo general awareness Campaigns about male mental health and ck)sures of local services aimed at this group. '1 thLYoughty ￿JoYed my phone calls dwing CO￿ and now I'm really loving my hc¥n8 visits Irom a new tefriender.. WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) mmunit En menl Thé Community Engagement Team who lead the activity programrn8 for older people, adapted and introduced new activities throughout Covid. Over 2022123. the team has continued to create n8w a¢livilies in response lo dienl requests and by generating new local connections. In 2022123 the team saw 709 clients. compared wlh 290 in 2020121, during Covid. Client numbers now exceed pr8-CovMY levels1680 in 2019120) and show that k)cal people have a dear preference for in-person activities. We are seeing the strongest demand from the 75-84 age group, with slightly higher numbers of male120%1 and BAME (25%) parti¢ipants than in previous years. The Café Pre Covid the rAfé served 500-7(K) meals each month. Numbers have sleadlly increased and exceeded this figure in the final quarter 2022Q3 - in March 2023 we served around 730 meals. We have 15 regular café volunteers. including some new recruits and five with additional support needs. 141 people came lo Christmas Lunches, our highesl number ever. The events were sponsored by a lo￿1 coffee company, who also provided volunteers. We have held numerous celebratory lunches to mark special 1xca￿onS (including Chinese New Year and Easter) and themed meals and lalks including the cuisine of Spain and Guyana. Our six-week cooking and baking classes were well received by participants. We ar8 very conscM)us that Ihe cost-of-living increase is having a significant effect on our café ujstcthers. and we did rnl increase café prices in 2022-23. 'Fo(IY is excellent 8nd served ￿th a happy wnile.. '1 Tramy look ft¥w8rd to it. Staff are very friendly.. long may it continue,. Future Plan$ We envisage Ihal our new satelli1818asehokl property in Morden will makè a significant contribution lowards tackling loneliness and isolation in other parts of Merton. We propose to offer a range of services similar to those availatrAe at Guild Hous8. with some adaptations lo respond tho specific needs of the Morden community. Demographic infornalion suggests that Morden has the largest LGBTQ+ pjpulation in the Borough and also the highest incidence of alcohol misuse. We are exploring ideas for partnership working wilh other local voluntary or9anisations, ensuring that we compl8ment rather than dUpl1￿le existing services. Talklng Theraplos We particularly want to explore options to expand our Talking Therapies off8r and make it more accessible. We are ¢onsKlering offering shorter term therapie5 and group sessions which may feel more user-friendly for pèople who have not used any form of mental heallh support previously. Emotional Su delivered by our Talking Therapi8s Team continued to offer a valuabl8 resource throughout th8 year, as local people experienced the ongoing impact of Covid related isolation. together with newef stresses, including the costwof-living crisis. Ther8 were 672 attendances at groups in 2022123. compared with 570 in 2021122. The groups offered. amoTrJst other things, mindfulness. peer support people wilh enduring mental health conditions. bereavement support and support for Ukrainian refws. fsu 174 people accessed grief support during the year, an increase on the 2021122 lolal of 159, significantly ahead of the commissioning targel of 130 clients each year. Sessions were delivered in person (sometimes in Cl￿ntS, homes or in venues in other parts of Merton). online and by phone, with additional email contact where appropna18. In-person sessions have become more popular, with 160 sessions delivered. in conlrasl to 65 in 2021122. 100% of clients rated the service as excellent and 100% would recommend the service to family arKI friends. WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Individual Counselli We are working to increase the number of individual counselling clienls. Difficulties in recruiting appropriate volunleers and some slaff vacancies limited Ihe reach of the 1..1 service over the year at Pfesenl we are actively recruiting new volunteers and aim to have 35 volunteers at any one time, in conlrasl to Ihe cu￿ent 21. In 2022123. a total of 98 clients were seen by the 1..1 service, a slight increase on the previous year. Salisfaction levels remain h￿h, with 100% of the 28 clients who ended therapy in the year saying thal they would recommend Ihe service to others and 96% saying that their counsellor understood their probl8ms, compared with a KPI of 85'/0. The 1..1 58rvice Manager post was vacant for a p8riod during the year bul has now been filled and we are already seeing growth in client numbers. Future Plans We have been working to extend th8 reach of the TalkiNJ Therapies service. We plan lo introduce more short-lerm therapies and therapies focussiTh3 on fflore immediate problem solving. in locations throughout Merton. We have recently secured five-year funding from the City Bridge Trust lo recruit a BAME counsellor to ensure that we are relevant to communities who may not routinely access mental health services, for a range of reasons. l• ¥Yho are ex dlfficultl Backgrnund Our Wellbeing Support Team works wilh ohyer peopl8 who ar8 experienc1￿ difficulties.. Short Tenn Wellbeing Support - Inlemalty funded by Wimbledon Gulid {up to 12 weeks support). Merton Uplift- FurKled by South Wesl London St Georges Mental Health Trust lo offer practical help to old8r people receiving community mental health serVI￿S from the Trust. Continuous Support - Funded by Merton Council to support okler people with longer tami or recurring difficulties. Wh•t ￿ have achleved and how we have achleved It rm Wellbein The team supported 360 people during 2022123. a Increase from 2019120. pre-co￿d. We particularly noticed an increase in office meetings (125% increase sinc8 2021122) and home visits 1130Vo increase since 2021122) r8fiecting clients. general preference for in-person meetings. The data also shows a sijbsiantial increase in cl￿nIS requesting support with transport (blue badge parking concessions, dial -a -nde etc), suggesting a renewed desire to visit people and facilities away from the home environrnent. We have an extensive ne￿rk of r8ferr81 agencies inclLKling 13 distinct teams within statutory health and social care agencies and they have significantly expanded the number of referrals that they make. Around 25% of referrals are made by friends and families, indicating the high level of lo&ql awareness and tntst in our services. with referrals being made from all wards in the Borough. 30% 01 slK)rt-tenn wellbeing suprM)rt clignts live in the East of Merton a slight increase on prevK)us years. 'My Wellbeing Support WLYker was IheTr me, supt#yting me ltrnugh a tough time. She was exGellenl. kti)d and helpful., M rton U lift offers four one-t(Fone wellbeing sessions to clients who have been assessed and referred by South West London St. George's Mental Healltt Trust {SWLSTG) as experiencing mild- moderate mental health condilions. induding depressK)n and anxiety. We consistently re￿1ve 55- 60 referrals from Uplift for this service each year. This is lower Ihan the 200 anticipated when the service began, due to lower referrals from SWLSTG who commission the service and under ils WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantse) terms act as the sole referral 8gency. Clients are more likely lo be male (40%> Ihan in our other services and in a younger age group- 79% are under 75. We are collaborating with SWLSTG to Ir￿eaSe referrals. including njnning outreach sessions lo dispel misconceptions about Seeking mental health support. Our monthly workshops with Uplift colleagues indude 'Wellbeing in Winter, and 'ExplorirrfJ your Identity p)st-retirement' a￿ consistently w811-attended and receive very positive feedbad(. .1 have had a lol of help from ￿MbledOn Guild. Théy gol me a handyman to help put up some blinds and curtains. I'v8 had a grant as well and advice from the Citizens. AdwGe debl advisor. The staff member put me in louch with the UNrfI Employment advisor and th6y are helping ma look al volunteer roles. I'm waiting fv a Talking Therapy assèssment. They gave me a Foodbank VLwcher 8nd told me about the Community Fridge. I've had a lot ol advice and in1￿Mation from the Wellb8ing ServKe. and 18m v8ry ￿ate1￿1 and appreciative for all the help thal I've had. Contin Our Continuous Support service offers Song lerni support lo the oldest older people {lypically 85+) and isolated people. 2022123 saw the tèam suptM)rt 146 people, 8 1 increase ¢ompared to the previous year. 800A of the dienls for the service are female and 75% as white. reflecting life 8xpectancy demographits. All my closest fiyends have erther dled, moved inlo caTr homes, or moved away lo live with family, so Wimbledon Gurfd has l)een a Godsend.. W If Grant Despite the fad that the Covid paThJemic has largely passed. we continue to see its impact. Some P8ople have developed bng term health problems, others have lost friends and family memb8r8. The impact of job losses is being felt and the emotional toll of the pandemic is having an effect. Global and national political events have negatively impacted the economy and Merton has declared a Cost-of-LiMng crisis. recognising th8 financial tjiffuillies that many people face. In 2020121 w8 gave grants to a value of just over £49.000. In 2021122 this increased lo just urKler £70,000. In 2022123 the sum increased again to £158,(MJO. 508 households were given a grant, in contrast to 317 in the previous year. Average sums increased from £377 to £442 since last year. with some households {typically those with young children or where there are serious long tem health condilions or disabilities) receiving more than £1.CM)O. This grant programme is ni)w almosl 100% funded by the London Borough of Merton (indudifvJ a contribution to administrative costs}, in rewgnition of the cosl-of-Living crisis. the needs new r8sidents arriwng from Ukraine and specifi¢ difficulties many people fa￿ meeting fuel o)sts - especially those wtth expensive prè-payment meters. 'It was amazing. l am extremely h8PPy ￿th the help wovided. I got a brand-new sofa and all the other things really helped at 8 diffi¢utt and l)usy time. I had just given bfflh and was given great advice on things I could gel fcr my new baby. I realty needed help,. I was Inancially struggling. I couldn't have done it ￿thOut your help. It means so much to me and my family. 11 was all excellenl, Ihere is nothing that could be imwoved.. Future Plans We envisage that demand for indiwdual grants will remain high over the course of the next year. We will continue to ensure that our service is accessible and welcoming as Fossible, recognising that requesting 9ranls is a humiliating experience for many people. We will also continue to take a holistic approach - very often financtal problems are linked lo olher problems. Over the year we have expanded our partnership with the Citizens, Adwce Bureau (CA81. who now offer both WIMBLEDON GUILD OF SOCIAL WELFARE (a company Ilmlted by guarantee) general advice {133 dients in 2022123. 111 in 2021122) and, from July 2023, debt advice from our offices each week. Clients for the debt advice service have multiple and complex difficulties. with 86% with debt problems and Ihe remainder benefits and housing issues. Over the year. the CAB service was able to claim £272,000 for dienls. compared wilh £191.000 in the previous year. CJ Enablo old e to be activ What we have achieved and how we have achiwed It Around 5CrfJ people joined an exercise activity in 2022123. compared with arouTrJ 400 each year pre-pandemic, with Merton Moves proving partscularty popular. This 1..1 support programme encourages older people to start exercising at a18vel is approFxiate for them. In the last year 85 peop18 completed the Pfogramme and continued to maintain their exercise commilm8nt. The programme has been especially helpful in altracling under-represented groups. including men 1250A of participants in contrast to 16% across all activities) and 37% are from BAME communities lon average 25 010 in acliviti8s) and 27% from the East of the Borough (13% across activities generally), '1 cannol speak too h￿blY in relalK>n to the servKe that MiniWon Guild prowdes. n about its staff and volunlears. Your dasses have made a huge d￿erence to my lrfe,. 'A8 8 pensioner, Merton Moves is altractive because the people putting on these d8sses are very empathetlc and undersland the value ol exercise. It s nice lo be around people who are enthusiasti¢ about what they we doing. I can't tell you the phywal and m6ntal benefits I gel from these group exercises. it s amazing. Whenever I take part in the w81king tennis I slept better and lound that I wasn't over thinking as much. Future Plans We propose to continue lo build our mlationships wilh new audiences. induding extending our reach in the East of M8rton. We will also continue to explore ways in which to allract more men to join our aclivitl8s. We are actively developing connections with smaller and informal groups to increase the knowledge of our services and incmse their accessibility. ustaln an environment that su s our mlsslon. Wimbledon Guild has a very positive organisational culture, wth staff showing huge commilmenl to customers and applying greal crealivily and en6rgy in tackling their many challenges. The pand8mic was a time ol hug8 change and learning and we have ensured that staff have been able to build upon Ihis. with access lo extensive training opportunities. We have a robusl approach lo Compliance, with regular I￿uS on key areas such as safeguarding and GDPR. The Trustees {who are themselves volunteers) are very gral8ful for the huge ¢onlribution thal volunteers make lo the life of Wimbledon Guild. We ensu￿ that all volunteers have proper training, support and role descriptions and that their contribution ts recognised Ihrough regular consultation groups and social events. Many of the volunlaers who contributed to the success of our services during pandemic have continued with us, particulady Ihos8 who started a befriending role dunng Covid. but numbers have dropped since their peak of 240 in 2020. The lolal number of volunteers working with Wimbledon Guild has now returned lo pre•pandemic levels.. with 156 local people volunteering with us on a weekly, monthly, or ad hoc basis. This ￿flects a wrdely repJrt8d national trend. as many peopl8 are now returning to paid employment post -Cowd. We have sI￿rtageS of volunteers for some roles, and we aim to increase the number of volunteers to al￿Ut 200 over the next year. A new Volunteer Manager and a new Volunteer Administrator are actively recruiting volunteers, with a WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) strong emphasis on social media. and have simplified our processes to ensure thal we can maximise recruitmenl opp(xtunitss. 95% of Befrie￿lIng dients surveyed r8POrted that they wer8 satisfied or very Satisf￿ wllh the support offered by their volunteer befriender, ￿th 100% saying that they would refer Wimbledon Guilé lo a friend, Almost 60% said thal their volunteer befrieTrJer had made a significant improvement to their life. 17 volunteers now work in the café, allowing us lo increase Ihe average daily number of covers to 45. S￿nth¢andy ahea(J of pré-pandemic averages. 'Lovely friendly staff. wlwe nothing is too much trouiwe. It's a communily. Future Plans We have an active Diversity and Inclusion group who lake a themed approach and are currently focussing on disabilily. Diversity and Inclusion is refiectad in areas of our work. including stsff training, service rjesign and a refreshed focus on brand, images and lone of voice. We are currently upgrading all of Ouf CRM sothvare lo ensure that our IT has the full capability to support our holistic approach and can meet our detailed reporting requirements. which are increasingly important as our range of exlemal funders increas8s. Staff have beèn fully involved in th8 specification and user tesling of the new system, with implementation scheduled for later in the summer 2023124. Trustees have recognised lor some lime that Guild House and Drake House offer a poor-quality working and public environment. Wè will locus on preparatory work to r8d8velop the properties in 2023124. W8 aim lo secure planning consent in 2023124 wtth Ihe intention of starting on sile in 2024125. 3. Flnanclal Rovl•w and Rosults for thè yo•r 2022123 Th8 nel operating deficit for the year was £596.272 (2021122: £867,455 net d8flcAI ). The investment Portfolio has suffered Irom the impact of the war in Ukraine and rising interest rale8 and inflation and produced an overall k)ss of £1,107.014 {2021122.. £863.141 gain) plus gains on the revaluation and sale of the Investment F)roperties of £254.000 (2021122-£533,000 gain). Th8 performance of the investment portfolios are reported in more detail in the Investment Policies and Pèrformanc8 sedion of ts Report. Accordingly. the net def￿￿1 for the year was £1,449.286 (2021122.. £528.686 net income) Total income for the y88r of £2.260,816 (2021122: £1,795.929 £1,595,599) was up 25.9%. Grant income of £706,264 was up by £133,757 (27.6%). The increase is mainly due lo additional grants 8warded lo Wimbledon Guild by the London Borough of Merton ILBM), one of which was the Household Support FuThJ to provide small grants to assist with the cosl-of-living crisis. Our other sources of income continue lo be rental income from the residential prop8rti8s aTrJ investment income from our various P￿01105. The fomier generated income of £560,747 (2021122 - £544,513), while the latterwas up 94.50k. retuming £697.715 {2021122- £358,697). The higher investment income was a result ol moving to a differently sIn￿lured fund (Responsible Multi Asset Flsnd - RMAF) which pays out a fixed 40/0 distribution. whereas the previously held fund distributed 'natural income" only. Howèver. the overall value of the portfolio fell over the course of the year. Wimbledon Guild and its investm8nl managers operate a lolal retum approach to Investments. Trading activities generated £90,985, down by £17,358116%). This r8fl8cts the dosure of our shop in Mitcham during the previous financial year. The continued recovery from COVID-19 also resulted in a h￿her number of a¢tiwlies at Guild House and Drake House this resulted in income 10 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) from our Community so￿1ces rising from £33.413 to £69,904. Income fr¢)m our therapy sessions and ¢ounselling training events fell from £74,9)310 £57.293. Expenditur8 for the year of £2,857.08812021122: £2,663.385) was up 7%. Expenditure on charitable activities of £2,479,910 was up 14 % and expendilure on raising funds of £377.178 was down 22Vo. Stsff costs of £1.650.924 were up 5% reflectsng ￿st-of-1￿vln9 increase award8d for the year (50h). In order lo support the charitsble activities of Wimbledon Guild. and with the approval of the Board, £1,105,OCQ wa5 Withdrawn from the portfolio managed by Cazenove made up of £436,175 of capital and £668.825 of Investment income. The financial position at 31 March 2023 continues to be strong. with totsl net assets of £32,248,275. including free reseNes of £418,883. Wimbledon Guild has considered the guidance set oul by the Charity Commission. follows the Inslitule of Fundfaising's code of fundraising Pfa¢tic8 and is registered with the Fundraising Regulator. We have r￿1 received any C￿PlaintS in resped to our fundraising praclices and our fundraising is managed in a way that is neilher detrimental to Wimbledon Guild's r8putation or the wellbeing of the peop18 or parties involved. Wimbledon Guild genefaled £77,887 01 income from fvndraising comprising £72,366 from individuals and £5,525 from legaGies. The fundra￿Ing team also generated £15.000 from Trusts and £26,670 from events. In considering the appropriateness ol preparing th8 financial slal8ments ￿ a going concern basi5 the Trustees have taken a¢￿Unt of all available infomation about the future includirvJ considering information from approved budgets, and frun forecasts covering th8 next 4 years for income, expenditure, and cash-flows. Whilst the IM￿15 of COVID-19 on Wimbledon Guild's s6rvice delivery were challenging. the financial Posltion of the charity remains very strong in particular given Wimbledon Guild's ability to access the Expendable Endovmenl fund$ lo continue to support ils charitable activities. The Trustees have therefore conduded that It is enlirely appropriate lo prepare the financial stalemenls al 31 March 2023 on a going COTr￿rn basis. Tradlng Subsidlary Wimbledon Guild's trading SUbs￿lary. WIMBLEDON GUILD Promotions Limited, has bean domiant SillC8 1 April 2016. 4. Principal Rlsks and Unwtslntlos The Trustees have developed a risk framework that c￿rIY dtfferentiates between the nature of risks the cttarily faces, which are: Corporate strategic risks, which impa¢l Wimbledon Guikl's ability to deliver our stralegy. Operational risks. which are assoaated ￿1￿ 1dent1￿.ng potentially inadequate internal practices, policies and systems that might result in a loss to the organisalion.. and Project risks, which are associated with specific. individual projects. Corporate strategic risks are the main focus of the Trustees. and these have been updale(I during the year. As at 31 March 2023 the principal strategic risks currently facing the charity, and the plans and strategies to manage risk, are.. WIMBLEDON GUILD OF SOCIAL WELFARE (a company Ilmited by guarantee) Rlsk Plans and strate ies to mana risk Failu￿ lo redevelop Wimbledon &'te effectively. rigorous financial S￿nariO planning. appropriately qualified and exp￿n¢&￿ exlemal advisors. robust seleclion process for advisors and for contractors. appropnate s￿lIS mix in staff team. development of appropriate Pr￿UreMent processes. share relevanl infonnation with individuals and organisations lo ensure customer base Is maintained during construction period. effedive PR and marketing lo g8n8rale local support and understanding for th8 projecl. review all Options for maintaining semces. including fA)mmunicalions and engagement activities arKI exploring opportunities for delivering services in 8Stemative local venues. Damage lo Wimbledon Guild's reputation through the growing complexity of our which puls us in contacl with vulnerable people who are experiencing diffuilties in their liv88. adoption of Safeguarding best practice in temis of policies, Procedures and training for all Staff. volunteer5 and trustees. r6cruitmenl of appropriately skilled and professional staff and volunteers. continuous training of new and existing staff and volunteers. taking appropriate professional advic8 and actin ensuring resourcing levels are consistent wilh ambitions. ensure appropriate and timely intemal and exlernal Iraining for all staff and volunteers. structured approach lo vmrkforce planning. open, positive Working relationships positive approach lo problem solving. invest in high qualily IT hardware and sO￿are to support our services and evidence the quality of our services. Loss or lack of skilled and molivaled staff and volunteer group lo delN8r services because ol reliance on g¢)odwill, expandirg workloads, increasingly complex and demanding casework. For full detalls of Ihe charity's risk policy and risk management praCti￿S see pages 15 to 16. Thls is the end of the charlty's Slrategic Report as roquir•d by the Companiès Act 2006. 12 WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) Financial Management Pollcles a) Reserves Wimbledon Guild had total funds of £32.2m at 31 March 2023. of which £17.Om are restricted. Of the unrestricted funds 01 £15.2m. £0.86m can only be realised by disposing of tangible fixed assets, and £13.8m can only be Tealised by disposing of Investment Properties. The remaining £0.51 m represents free reserves. Restncled Fund- Expendable Endowment In 2015116 the Trustees established a special Irust ('Expendable Endowmenf) whi¢h is administered by Wimbledon Guild as trustee. The trust is held as an èndowment fund and th8 income from the trust {'special Injsl income,) and. at Wimbledon Guild's discretion. 811 or part of the capital is applied for thè furtherance of those aspects of the charitable objects of Wimbledon Guild which are concerned with the provision of welfare services and relief and prevention ol poverty. r8li8f and prevention of ill health and provision of charitable support lo the eld8rly, During 2022123 the trust generated special trust income of £668,825 (2022: £340,963). In the yèar ££650,593 {2022.' 529.711) of special trust income along with capllal of £425.974 (2022.. £689,037) was used for Wimbledon Guild's charitable purposes. At 31 March 2023, the expendable endowmenl was £17.011.617 (2022.. £17.213,419). Free Reseryes The Trustees have adopted a reserves policy whlch they consider appropriate to ensure the continued ability of Wimbledon Guild lo meet ils obiectives. Free reserves are défined as that part of Wimbledon Guild's funds that are freely available fot its general purpose8. An appropriate level of frne resepth is required to maintain a lev81 of readily realisable assets.. lo sustain Wimbledon Guikl's opeolions within the London Borough of Merton through periods of economic downturn and uncertainty for long enough lo lake remedial aclion. lo develop new $8rvic8s or expand current ones in line with the changing ne8ds of the community. whilst supporting existing clients and slaff during periods of change. to ensure th81 delays in the receipt of expected income do not interrupt seNi¢es or cause serious financial dfficulties. to survive unexpected selbad(s and problems arising frcm inl8mal or extemal auses. The Truslees have reviewed the required level of free reserves, Expermlable EndNment funds, the risk profile of Wimbledon Guild and ils plans for the future. In considering the minimum18vel of free reserves Ihe Truslees have taken account of the quantum and aG¢essibilily of the Expendatr￿e Endowment fund and Wimbledon Guild's discretionary powers to draw capital down when required to fund certain of the charFtable activities of the charity. The Trustees have determined that the minimum level of free reserves required to be held is £0.5m which currently represents about 2 10 2.5 months of annual expenditure. The Trustees will ¢ontinue to drawdown capital from the Expendable Endowment when required to meel the operational needs of the charity. This situatnn will be rewewed on an ongoing basis. 13 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) b) Invgstment Policies and Pèrformance The last 12 months have constituted a quite a difficult period for inveslmenls as both equity and bond markets suffered in tandem as a resull of central banks, led by the US Federal Reserve increased interest rates in an attempt to control high levels of inflation. Russia's invasion of Ukraine in February 2022 further infiamed innalion and disrupted supply chains. During January 2022 Cazenove completed the transfer of the portfolio to a Responsible Mulli- Asset Fund IRMAF). The long-term objective of CPl+4.OYo remains the same, however, this Fund incorporates Environmental Social and Govemance (ESG} principles and has an 8xpli¢it responsible investment policy aiming lo have a positive impact on people and planet. as well as excluding investment in areas of common charity concems. One result of this change has been to increase the investment income as the holdings in the RMAF have higher w'elds than assets previously held in th8 Portlolio. Fixèd Asset Inveslmenls at 31 March 2023 were £17.6m {2021122- £17.kn), down 1.8%. Wimbledon Guild's total in￿StMent portfolio was managed by Cazenove Capital Management ('Cazenove'l. Part ol Ihe Cazenove portfolio is hekl as an Expendable Endowment fund (s88 Reserves section a i)). The olher investments are available to supwt Ihe flee reserves described n Reserves section an li}. The Board has given Cazenove discretionary powers to rnana9e the portfollo within Ils oblecllv8S. Cazenove meet thé Investment Committee ￿'c8 each year to discuss the portfolio and determin8 future policy. The Cazenove portlolio is managed on a lotal relum basis with Ihe investment obi8Ctive to provide funding for certain of Wimbledon Guild's chantal￿e purposes whibg preserying the capital base In real t8rms. Specifically, th8 inv8slmenl objectives are: to seek a total return 014% plus Consumer Price Index per annum on a five-year rolling basis; and investments to provide fundiNd for charitable purp)ses of 4% of the capltsl value per annum. Over the 12 months ended 31 March 2023, the wrtlolio managed by CaTrnove produced negatlV8 relum of 2.4%12021122 6.9% - Positive). Performance dunng 2022123 was dominated by the impacts of th8 fallout from the outbreak of war between Russia and Ukraine Combined wilh rising inflation and interest rates. The Cazenove portfolio rose by 1.2% in th& last quarter of th8 year. Overall. the nèt realised and unrealised investment losses reFrf)rted for Ihe year were £1,107,014 <2021122.. £3853,141 gain). As reported in the Financial Review section of tl* Report. in ￿der lo support the charilable activities of Wimbledon Guild, and wth the approval of the Board. £436,175 (2022.. £689.037) of capital was withdrawn from the p)rtlolio managed by Cazenove. The managemenl of the cash deposits Is delegated to Senior Management wtthin approved limits. c) Invostment Propertl•s The residential properties have been valued at 31 March 2023 at £13,820.000 (31 March 2022- £14,646,(X)O) using the Market Value method of valuatK)n applied lo each unit. In undertaking the valuation, allowance has been made for the tenanaes in pla￿. DLJring the year 2 prOPe￿.￿S were sold the retail properts'es at Upper Green East and Coombe Lane. The valuations of the Inveslmenl Propert￿ at 31 March 2023 were carried wt by Carter Jonas, a property consultsncy firm. In each case the valualb)ns were undertaken by members 14 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) of the Royal Inslitution ol Chartered Surveyors {RICS} and were subsequently approved by RICS Registered Valuers. Property management continues lo be outsourced to Bells Commercial (Bells). a local property management company, and the maintenance of the buildings is overseen by the Properties Committee. Structur•, Governance and Management Wimbledon Guild is a Company Limiled by Guarantee and a Registered Charity. The governing body of Wimbledon Guild is th8 Board of Truslees Ilhe 'Board'}, comprising 10 members who meet at leasl four limes a year. Trustees are 8lected for Ihr*-year terms and are eligible lo stand for re-election for further Ihre8-Jfjar temis up to a maximum of nine years. Thereafter. Trustees may be re-el8Cted for addit￿1 one-year terms if 75% 01 Ihe Board of Truslaes present at a meeting of th8 Board have ¥Dted in faNx)ur of a Board resolution reGommending their re-election. Each new Trustee is given an induction programme and all Truslees have the opportunity lo receive additional training. A register is kept of the inlerests and the ￿entIfied skills of the Truslees. The main responsibilities of the 8oafd are selling Ihe strategy for Wimbledon Guild and monitoring its implementation. Selli￿ and mi)nitoring the budget, and exercising financial overview. Trustees and senior staff regularly meet lo consTrder areas of individual work in greater detall. The Board has established fomally constituted sub-committees, each with temis of r8f8rence and funclions delegated by the Board. The Chief Executive Officer andlor Head of Finance and Resources attend all the subcommittee meetings. as do appropriate Senth Manager5. The Trustees delegate the day lo day running ol Wimbledon Guild lo the Senlor Management Team. The Senior Managers. togelher with the Chairnian, Vice Chaiman and the Treasurer meet quartedy lo review Current issues. Weekly operational meelirfjs are held by the Senior Management Team. The Board has, where appropfiale, used thé Code's principles. ratlonale and key oul¢omes to evaluale the effectiveness of goveman¢e within Wimbledon Guild. The Board regularly rewews its governance procedures, taking legal and ¢onsultsnt advice as appropriate arKI has also undergone training in Diversity and Inclusion over Ihe lasl financial year. Risk and Internal Control The Tfustees have overall ￿SponSIbl1￿ for ensuriTrJ that Wimbledon Guild has an adequate system of controls, fInar￿lat and otheThvise. They are also responsible lor safeguarding the as5els of Wimbledon Guild and hence for taking reasonable sleps for the preventM)n and detection of fraud and other irregularities. The Trustees musl ensure that: Wimbledon Guild's assets are safeguarded against unauthorised use or disFosilion,' accurate records are maintained. and financial Infom￿l10n used within Wimbbedon Guild or for publication 15 reliable-, and Wlmbledon Guild complies with relevant laws and regulations. A corporate risk register is maintained, updaled and revEwed regularly by the Trustees and management. As part of this process the Trustees acknowledge their responsibility for Wimbledon Guild's system of intemal control and reviewing its effectiveness. 11 is also recognis8d by the 15 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Trustees that such a system is designed to manage rather than eliminate Ihe risk ol failure to achieve Wimbledon Guild's objectives and can only provide reasonab18. not absolute. reassuran¢e against material misslalement or loss. The Trustees have sel policies on risk and inlemal controls. which cover lh8 following.. the reswnsibility of management to implement the Trustees, poliues aThJ identify and evaluate risks for their consideration on an orKJoirKJ basis: nsiderat￿n of Ihe type of risks Wimbledon Guild faved by the Board of Trustees on 17 July 2023 and are signed as authorised on ils behalf by- Susan Cook8 - Chaimpn Sandy Pfeifer-Treasurer 17 July 2023 17 ## **WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee)** **Independent Auditor’s Report to the Members of Wimbledon Guild of Social Welfare** ## **Opinion** We have audited the financial statements of Wimbledon Guild of Social Welfare (‘the charitable company’) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company’s affairs as of 31 March 2023 and of its income and expenditure, for the year then ended. - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern.** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements, or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 18 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Oplnlons on other matters preScri￿d by the Companios Act 2006 In our opinKin based on the work undertaken in tr18 course of ow audit the information given in the truste8s' r8pcYi, which includes the diredors. report [and the strategic reportl prepared for the purposes of company law. for the financial year for which the financial statemenls are prepared is consistent the financial statements,. and the strategic report and the directors, report included within the trustees. report have been prepared in accordance with applicable legal requirements. Matters on whlch wo are required to rew1 by exceptlon. In light of Ihe knowledge and understanding ol the charitable company and their environment obtained in the course of the audit. we have not identified material misslalements in the strategic report or the dire¢lors' r8POrt included within Ihe trustees, report We have nothing lo report in respect of the following malters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion: adequate and proper accounting rec¢yds have not been kept; or the financial siatemenls are not in agreement with the accounts'ng records and returns., or certain discl¢)sures of Irusiees. remuneration specified by law are not made: or we have nol received all the infomiation and explanations we require for our audlt. Responslblllt108 of tru8ts08 As explained more fully in the Irustees. responsibilities stalement set out on page 17 the trustees {who are also the directors of the charitable company for thè purposes of company law) are responsible for the preparation of th8 financial slatements and for being Satisf￿ that they give true and fair view, and for such inlemal conlToI as thé truslees detem)ine is necessary lo enable the preparation of financial ststements that are free from malerial misstatement. whelher due lo fraud or error. In preparing the financial slalements, the trustees are responsible for assessing the charitable company's ability to continue as a going concem, disclosing. as applicable, matters related to going concern and using Ihe going concern basis of accounting unless the trustees either intend lo liqU￿ale the charitabl8 company or lo cease operalions. Of have no realistic altemative but to do AudltoV8 ro8ponslbllltl•$ for the audh of flnanclal stataments Our objectives are lo oblain reasonable assurance about whether Ihe financial statements as a whole are free from malenal misslalement. whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will atways detect a material misstatement when it exists. Misstatements can arise from fraud or error aThJ are considered material if. individually or in the aggregate, they o)ukl reasonably be expected to influence Ihe economic deasions of users taken on the basis of these financial slatemenls. Delails of thè extent lo which the audit was consxlered capable of dele¢liNJ irregularities, including fraL¢d and non-compliance with laws and regulations are set out below. A furlher description of our responsits'lities for the audit of the finanual statements is located on the Financial Reporting Council's website al.. www.fr rsres sibililies. This description fomis part of our auditor's report. The extent to which the audlt was considered capable of dotoctlng IrregularIt￿8. Includlng fraud. Irregularities. including fraud. are instances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatemenl of Ihe financial statements from irregularities, whether due to fraud or error. and discussed these between our audit team members. We then designed and performed audil procedures r8StM)nsive to those nsks. including 19 WIMBLEDON GUILD OF SOCIAL WELFARE (a company Ilmlted by guarantee) obtaining audrt evidence sufficient and appropriate lo provide a basis for our opinion. We oblained an understanding of Ihe legal a￿1 regulatory framevK)rks within which the tharitable company op8rat8s. focusing on Ihose laws and regulations that have a direct effect on the determination of material amounls and disclosures in the financ￿1 statements. The laws and regulations we considered in this context were the Companies Act 20C￿ and the Charities Act 2011 togelher with the Charities SORP {FRS 102). We assessed Ihe required compliance with these laws aTrJ regulations as part of our audit procedures on the rèlaled finan￿al statement items. In addition. we considefed provisions of other laws and regulations that do not have a direct effect on th8 finanual slalements but compliance with which might be fundamental lo the oharitsble company s ability to operate or to avoid a material penalty. We also consid8red the opportunities and incentives that may exist within Ihe charitable company for fraud. The laws and regulations we considered in this context for th6 UK operations wera Gèneral Dala Prolects'on Regulation, Employment Law and Health and Safely legislations Audiling standards limit the required audit procedu￿ lo identfy non-compliance with ihese laws and regulations to enquiry of the Trustees and management and inspection of regulatory and legal correspondence. if any. We identified the greatest risk of material irnpact on the finanoal statements from irregularities, including fraud, lo be within the recognition of grant income and the override of controls by management. Our audit procedures to respond to Ihese risks includèd enquiries of management about their i)wn identification and assessmenl of the risks of irregularili8s. sample testing on the posling of joumals, reviewing a¢￿UntIng eslimales for brases, reviewing ffjgulatory correspondence with the Charity CommisswJn, and reading minutes of me8ting$ of those charged with governance. Owing lo the inherent limitations ol an audit, there is an unavoidable risk Ihal we may not have delected some malerial misslalemenls in the financial slalemenls, even though we have properly planned and performed our audit in accordance with audiling slaThJards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions rellected in the financial statements. the less likely Ihe inherently limited procedures required by auditing standards would id8nlify il. In addition. as wilh any audit. there remained a higher risk of non-detection of irregularili8s. as these may involve ¢ollusi¢)n, forgery. intentional omissions, misrepresentations, or the override ol internal controls. We are not responsible for pr8venting non•complianc6 and cOnr￿t be expected to deleci nonunt) Restrlct•d Incom• Endowrngnl Funds Funds UnroStrf¢tod Fund8 Totsl 2023 Total 2022 Notes Incomo fmm: Donations and legacles Charitsble a¢lrvilies Other trading a¢tivitss Inveslmenls 79.669 701.182 90.985 28.889 79,669 1.392,440 90.985 897,715 118,775 1,210,114 108,343 358,697 1.264 662.728 Other 19 436.175 Total In¢om• Exp•ndltt•r• on: R8isirvJ funds Cfvanlable ￿tiVit￿8 Total gxp•ndltur• 357.648 733418 19,530 377,178 2 479,910 2 857 088 482,883 2,180 501 1740,394 1 740 394 Opgrntlng (DdcltVSurplu• 455,703 596 273 867 455 Nel gain￿{108¥esI investments Gain on revaluats.on arKJ sale of Investment Properties 14 {35.910) (1,071,103> 11,107,013) 863,141 13 {978.921) 1,232.321 254,000 533,OCKI N•t (•xp•ndltur•)nncom• 1205 172 49,T73 1449 286 R•conclllatlon of fund• Total funds brought fOr￿d 19 1&392.227 91.910 17,213.423 33.697,561 33,168,875 Total fundo ¢wrl•d forward 19 187 05S 16 919,536 32 248 275 33.697 561 TOTAL RECOGNISED SURPLUS AND DEFICITS The company has no rewniwj surpluses or defKils olher than ts der￿t or swplu8 shown above. For the purpos8s of the Companbes Art net (iThxNne) of (£1.449,286112022..£528.6861 is lotal income of £2,260,81712022.£1.795,9291. minus total expermjilufe of £2.857,08812022: £2,663,385) ,plus nel Ios5 on inveslmenls of £1,107,01412022'. £863.141 gain) aThl plus gains on revaluation of Investment Propert￿ of £5254.IKM) {2022- £533.IXKII. The noles on pages 24 to 42 fomi pwt of these finarKial statemerrts. 21 WIMBLEDON GUILD OF SOCIAL WELFARE {a Gompany Ilmited by guarantee) BALANCE SHEET (Company Number 383330) AS AT 31 MARCH 2023 2023 2023 2022 2022 Not•8 FIXED ASSETS Tangible assels Investment Propert Investments TOTAL FIXED ASSETS 12 13 14 856.094 13.820,000 17 580.422 32,256.516 862.34S 14,891.000 17,890.214 33.643.559 CURRENT ASSETS Deblors Cash al bank ar￿ in hand TOTAL CURRENT ASSETS 15 16 195.4fj6 69,401 264,887 155.409 85.957 241.366 LIABILITIES Creditors - amounts falling due withln one year 17 NET CURRENT ASSErs 18.241) 54,IK12 TOTAL NET ASSETS 20 32 248 27S 33.697 561 Th• funds of the charlty: R•strlct•d funds Endowment funds Reslricled income lurNJs 16.919,S36 17,213,423 91.910 17.061,219 17.305.333 UnfO8trtcted fund• Free Reserves Investment Propertie$ ReseNe Fixed Asset Reserves 510,961 13,820,000 856.094 638.883 14.891.1)J) 1S.187,055 18,392,228 TOTAL FUNDS 1W30 32.248.275 33 697.561 Approved by the Board of Tru81ees on 17 July 2023 Mrs S Cooke- Ch irman S Pfeifer- T uror Company No. 383330 The r￿leS on pages 24 10 42 fomi part of Ihese financial stsIw￿nts. 22 MBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 Not•s 2023 2023 2022 2022 Cash flow• from operating activitl•s Net cash proviled by (used oFeraling aclivitss 21 11,176.868) {1,109,140) Cash flow¥ from Inve8tlng actlvllles: Dividends and inleresl from investments Income and capital wilhdravrals from inveslmenls Purchase of tangible fixed assets N8t Cash provxled by (used invesling ac1wil￿S 18,644 1.176,508 1.030,crfX) 50,652 12 1180310 997.992 Change In cJ$h and cash ulvalents In the rep¢)rtlng perlod 116.556) (111.1471 Cash and cash •qulval•nts at th• bèglnning of the roportlng p•rlod 85.957 197.104 Cash and ¢ash •qulv•hnts •t the end of th• r•portlng pertod 69.401 85,957 23 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1. ACCOUNTING POLICIES Wimble(Jon Guild of Soc&al Welfare ra 8 charity (registration number 2004241 and a company limited by guarantee incorporated in the United Kingyom {company number 83271311. 11 is smwerned by ils Memorandum and Art￿leS of AssociatK)n i￿ted 15 October 1943 as amended by special resolulion a16 October 2009. {a} Ba818 of Preparation The financial slalement5 of charity. which 15 a Publ￿ benefil enlity un¢Jtr FRS 102. have been prepared under the historical cosl conv8nlion as modrfied by the in¢lu$th) of investments al market value aNJ Investment Properties al Far Value, in xcordance with Accwnling and Rewting by Charities-. Sialemenl of Recommended Praeti¢* appl￿ble lo charilies yeparing Ihelr accounts in a¢cordance wilh the Financial Reporting Siandard applicatAe in the UK and ReWbI￿ of Ireland IFRS 1021 {effeclive 1 janu￿ 20151- (Charilies SORP IFRS 1021}, the Financol ReFthing Stsndard appli￿ble in the UK and RepublK of Ireland IFRS 102) and ihe Companth Act 2006. Company nformalion is provlded on Page 42. (bl Golng concern After making enquires, Ihe Trust888 have a reasonable expectalK)n that the charity ha8 adequat• resources lo conts.nue its acbviiies for the I(xeseeat￿e future. Accordiryjy. Ihey continue lo ￿0p1 the ￿Ing concern basis in prepariryJ tts fin￿¢￿91 slalements a$ w111r￿d in th& Statement of Trustee8 Responsibilitie8 on page 18. Ic) Ac¢ouThtlng E•tlm*t•# and Judg•m•nl• Preparation of the financial slalemenls fequwes managomenl to make slgnificanl jud9ements and e81imales. The items in the finanual stslemenls whero Itme NMJg8ments aThJ estimate8 have been m8de include the followng.. In determin1￿ Iho Fair Value ol Investment Wtie$. a￿umptI￿8 are made abwl uncwtain fvlure events on those assèts at the balance sheet dale. Assumpl¥Ms used ¥8 based on hi$lor&i1 experienc8 and expeclalion of future events and are upjaled with new Informalion. effects and risks ol eslimalion uncerta'nly have been assessed by applw'ng apwopriale sensilivity anatysis lo flex key assumptions, such as Ren15 and Open Mwkel Values, and ￿entIfy how robus11￿ m¢yJel oulwls are in pra¢li¢e. The cOndus￿n of Ihe sensilivily analysis is Ihal there would need lo be an exlfeme movement in Markel Values for there lo be a material impact on the valualion of the portfol￿, and there is no evidence that this has happened sirKe Ihe feFKNliNJ dalo. Trustees solisfiod Ihal the Fair Value valuation al 3151 March 2023 iy materially xcurale. (d) Incom• Income is recogThsed where the char4ty ho8 éntillemenl to the fvnds. il is rKobable that the income will be received and Ihe amount can be measured rel￿bly. Granl Income is recognised where the ¢harty has eniitfemenl lo funds, any performance conditions attached lo the grants have been mel, il is rrtobable Ihal ￿ income will be received and the amounl n be measured relSably. Legacies are recognised on the earf￿r ol the datè wh•n amounts are r￿eNed or when charity has been nolilied of Ihe executor's inlenlion lo makè a distritxjlion. The sale of meals. shop sales, donations and other vdunlary sowces we dealt with on a cash basis. Donated goods received for re-sale are reccyiised at poinl of sae. Investments ¢omprise interest and divKlerKis wh￿h are recognised ￿en receNable. Grfts in kind in¢lude donale Balance at 31 March 2023 Defer￿ income of £3,082 consists of cwnsdling training fees received in advance and related lo training courses to bè held in 202Y24, £74,489 in relation to gfanls1£61,399 - ICS Grants and £13.090 in rdalion to Ihe Communily Hub) for work being undertaken in 2023124 and £5,573 of other income 33 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. FINANCIAL INSTRUMENTS 2023 2022 Finanual assets measured al cost 1,554233 193,637 Finanraal 1vabilit￿ measurod at crAst 153622 Finano81 assets i￿lUde Deblrys. and Casfvin-hand and on deposil. Finanual Ilkn'lilies irKlude trade arnl other uedrtcms. 34 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. FUNDS R•rfn Balances 31 March 2023 2022123 1 Apfll 2022 Incomlng Rosour¢•s InrfmTrt r•¥ources expendod gn'sl{los's) Prop'8 EndoT*mient8 Expendable Endowment 17,213,418 19,530 1232.921 16.919,536 R•#trlct•d Income Funds Welfare Fund Merton Slraleglc Partnership - Wellbein9 Supwt Merton Strategic Partn&r5hip -Talking Therapies SWLSTG Merton Uplrft-wellbeing Suppcyt The Merton COVID- 19 Community response Hub Winter. Warm & Well Granl 78,943 162,418 (166.018) 75.343 {48,5(XJ) {48.5(Kl) 81,971 {81.971 (o) 78.539 {65,4491 13,09) 7.691 125,455 (120.8791 12,267 Musical Movement Rosemary Lodge Fund Befriending (Age UK Merton} 9,404 {7.1091 5,295 1.531 {1.5311 5,205 31.232 131.232) 5,205 Supp(Kt fcrf Ukraine Wimbledon Convalescent Home 124.060) 5.940 14.949 (14.722) 227 Merton Moves NHS Merton CCG {Gdel Support) 2,625 39,299 (30.524) 11.400 35,rJXI (22.083) 12,917 Everyone FbJe¢l 750 {79)) Other Expendable Endowment capllal dislribulion Special Tnjsl irKome (Cazenovel (500) {10,201) 438.175 {425.974) (18,237) 668.830 1650,593) Total Restrthd income 91,914 1.790.187 141.683 35 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Net 1 April Incomlng R•sources Inv'mnt 2022 r•sources èxpendod gn'•l{10s'81 Prop's Rev'n Balances 31 March 2023 2022123 TV•rs Total Unrestrthd Funds 16.392 229 1,091.{￿5 254,(MJ) 1.232.921 15,187,055 Total FurKIs 33,697.561 2,254 714 1.107 011 32 248 275 The Expendable Endowmenl was eslatAished by a InJ8lee declarat￿ d trust dated 16th July 2016. The charrtable trust created 15 administered by The Guild a5 Truslee. The Endowment is fomied Pfiftcipally from the proceeds ol the sales of The Guild's cale home. plus other residential properties in 2014115.11 is a capital fuThJ where all income, and. 81 The Guild's discrelion, all or part of the capital is appl￿d for th8 furt￿TanCe of Ihose aspects of the charitable objects of The Guild which a￿ concemed with the proviS￿n of w￿lfare services and rdief and mention of poverty. relEf and prevenllon of ill health and woyision of charitaNe support lo the eklerly. The Tnjstees approved the transfer 01 £643,478 from the Expendable Endowm￿1 to reslricled income fvnds. T￿ fiJThJs were ulilised duriro Ihe year In accordance with the obJe¢15 of Ihe trusl lo wovide Welfare swvices. The Investment income generated from Ihe Expendable Endowment ￿ve$ImentS is irKluded in Reslricled Income Funds as 'Special Trust Income,. and is used lo lund Ihe charilable objects of tho Guild as defined in the declafalion of trust dated 16th July 2016. The Board a￿eed lo add the of th8 sales of 2 properties £1,325,000 to the fund during 2022-23 The Welfare Fund is made up of donat￿8 ewmwked use. Small warnts are given out lo indfviduals, in line wilh the objects of the Charity. The Strategic Pariner Programme Is a grant awar¢Jed lo The Guild by London 8tyough of Merton for a poriod of 3 years starting on 1st April 2019. Its purposes are lo [￿VIde ongoing and Wact￿l emollonal support for people over 60 with complex needs, and lo I￿1119{a 3 emotional Supp￿ lo improve confidence and motivation and develop resllience. Merlon Uplift, is a partnership between the NHS and local voluntary sector organisalions slwted in Awil 2019. As part of Merton Uplift The Guild has been awarded a 3 year contrxl by Swlh Wesl London Si Georges Mental Health ffust ISWLSTGI lo provide Wellbeing Sery￿s as pwi of the Merton Uplrfl pr(>3ramme. This has been extended by a year. The Merton COVltk19 Community Response Hub is a partnership bet￿n Age UK TrAerton. Merton Voluntary Service Council and Wimbledon Guikl. 11 was set up in 2020 to h* lsolaled houselKlds and Ilw at risk Irom COVID- 19. The Winter Warm and Wdl grant was recepnd fr(xn LOrKk￿ of Morton and is u$ed lo help to reduce wlnl hospital admisslons through infomialion, 9￿1$ arKI one lo (￿e supwt. Age UK Befr*rKling Ser¥￿e is a partnership with Age UK mert￿ fvnded by the local c￿ne￿I, whereby The Gulld provides a I￿e lo lace befriending service and trains and supprKts volunteer befrienders. The Wimt4e¢Jon Convalescent Home FurLI is the merger of two smaker ch￿￿eS is used for small welfar8 grants. The NHS Merton ClinKal Commissw)nirvJ Group ￿an1 of £38.OfKI 15 used lo part fund a bereavement seTh￿e delivered by The Guild lo help people aged 16 and above are bweaved or awxoachIr￿ bereavement. The Gulld's Grief Support service provides infcymatson, guidance, arKI SUPPM)rt. 36 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 The Guild agreed wth Musical Moving lo take over the funrung of dance classes for peopbe wÉth Parklnson's. and have received grant and legacy monw lo supwt that ￿ogramMe. The Investment Properties Reserve repfesents the valuations of the residential propert￿ owned by The Guild and renled oul to tenants, and th8 relad property owned by The Guld and leased to a local business. The Fixed Assets Reserves are rewesentad by fLYed assets and are not r￿llY convertible into Cash. The 2021122 movemenl in furKJs comparalNes are a5 fcll¢y•ts'.- R•stat Net IncomSng R•8ourc•s Invrnnt ro8our¢M •xpend•d gn'•l{lo•'•) Prop. Rev'n Balanc•s 31 Mar¢h 2022 Trforn 2021 Endowments Expendable Endowment 17 133.319 70.847 839 988 17213419 Rostricled Income Funds Wellore Fund Merton Sirategic Partnership- Wellbeing Sup Merton Slralegic Partnership-Talklng Therapies SWLSTG Merton Uplrfl -Wellbelng Supp The Merton COVID- 19 Community response Hub Wlnler, Warm & Well Grant 40,687 97,816 (59,5611 78.942 48.5 (48,500 48,5(￿ {48.￿> 78,￿2 {78.￿2} 89.407 189.407) 6,839 84.150 {83,298) 7.691 Musical Movement Rosemary Lodg Fund 8efrienéing UK mertC￿ The Wimbledon Foundation - SW Trains CE Grant Wimbledon Convalescent Home 11,347 {1,943) 9,404 1.531 1.531 31,232 (28.027) 5,205 l5.0(X) (15.0001 14,457 14.949 on Moves NHS Merton CCG IGr¢l Support) 11.5 20.fNA) {28.875) 2.625 38.(th (38.￿0> 37 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Rostat•d Net Rorfn 1 Aprll Incomlng Re8ourc•s Inrfmnt 2021 re8ource8 •xp•nd•d gn'#l{los'•) Prop's Balances 31 March 2022 2021122 Trf•rs Expendable Endcmmenl ¢apilal distribution Special Trust incom Cazenove) 889,041 {699.2421 110.201) 170.520 340,959 (529.711) 118.232) Total Reslri¢ted In¢om8 258.881 1 581815 1.746.966 91,914 Unr•8trlct•d funds Gen8ral Fund 549.319 3,155 (785.9121 22.970 (50.6491 638.883 Fixed Asset Reserve Investment Properties Reserve Total Unreslricled Funds 871.355 IS9.6581 50,649 862,346 14891000 15778674 22 970 533 Crfx) 16 392 229 Total Funds 33 188 874 1795 929 863 142 533.IX)o 33 697 561 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS Inv•slrn•nt Flx•d A88•t G•n•ral Prop•rtl End¢Mm•nt R••trld•d Incom• lund8 Total fund¥ R•8• Rgs•rve fund8 2023 Ta￿1b16 Fixed Asse1$ Inveslrnenl Properties Inve81rneni8 856,094 856.094 13,820,000 13.820,000 519,203 16.919.S36 141,083 17,580,422 Nel curTenl 8ssèIs Tolal S10,962 13 820 000 856,094 16.919 $30 141.683 32 248.275 2022 TangiNe F Assets Investmènt Properties Investments 862.34S 862.345 14.891.(MXI 14.891.LlXJ 584.882 17.213.418 91,914 17,89),214 Net currgnt assets Tcrtal s4.￿2 638.884 14.891.0 862,345 17.213.418 91,914 38 WIMBLEDON GUILD OF SOCIALWELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 21. CASH FLOW INFORMATK)N RECONCILIATION OF CASH FLOWS FROM OPERATING ACTNMES 2023 2022 Net (Expenditureylncome for the rewtiThJ perirml (as per the Stsiemenl of financial aclivrties) Adiuslmenls for. (1,449.286) 528,686 Deprwalion chwges INole 12) 50,938 59,659 Unrealised and realised I￿S￿l￿nS) (Note 14) 1.107,014 (863,141 } Inve8lmenl Propwty Rovalualion (Nole 13} 179,000 (533,0(KJ) Surplus from sales of Inveslmenl wopert l433,iY￿) Investment income shown in Investw￿ ath"vitses (Note 4) 1697.316) (359.606) Investment fees $tx)wn ￿ investing act￿[1￿ (Note 19) 20.097 81,819 (Increa￿) l Decrease in deblorj 140.057 (29,872) Increase l n pension scheme whth am ￿n￿OyeeS are enlilled lo jom. The company malches contritrArtioro M￿le by empl¢)ytss up to 7%. During Ihe year ended 31 Plarch 2023, Ihe CoMpan￿S total contribut￿nS amounled to £79.94812022: £71.261). £43,373 of the cosis were althaled lo restrthd ￿11¥11￿. and £36.575 to unrestr￿ted aclivilw. The Company's slaglng dal6 for staff aulwrolrnenl ￿ the pension was 1 July 2014. 27. CAPITAL COMMITMENTS The company has no authorised and CAX)tra¢ted for cawkl expwdilure al 31 st Maf¢h 2023. 40 WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 28. STATEMENT OF FINANCIAL AcnvmEKOMPARATIVE INFORMATION The split of the 2022 compar3tive$ shown on the face of the Statement of Financial Activilhrys beh¥een the separate classes ol funds are as follows.. Reslrict&J Unrestr￿ted IrKome Endowment Fund$ Funds FurK15 Tot4 2022 Income from: Donations and IVi6S 118,775 118,775 Ch8ri1able activlties fJ58,612 551.503 1.210,115 Other Irdding activit 108.343 108,343 Investments 17.426 341.271 358,697 Oth•r Total income )3 156 1581811 1 795 930 Exp•ndltur• on: Ral•lng fund• 412.036 70.847 482.883 CharltAbl• actlvltl•• 433,534 1,746. 2.180,502 Total oxp•ndltur• 845 570 1746. 70 847 2 863 385 Operaling IDeficr¢ySurplus 16S.157 759.884 867.4S5 Not galnsllloss•s) on Inv•stments Gain on rgvaluation of Inv￿¢M•￿t Prop•rtS 22.971 182 839.988 863,141 533.( 533.OCK) Nel lexFei¥JrtureYin¢ome 613 557 Reconclliatlon of funds Tolal funds brought fryward 15.778,670 2￿.886 17.133.319 33.168.875 Total fund$ thard 16.392.227 91,911 17 213,423 33,697.561 41 WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 29. OPERATING LEASES-LESSOR Al 31 March 2023. the future minimum lease payments rocep4able urwjer t￿)n￿nCelIable opwating leases were'.- 2023 2022 Obllgalions under 0￿rating leases expyiry in less Ihan one y 481,712 502,560 Obligalions under operating leases expyiry in one to fNe years 31,053 4,617 Obligations under operating leas8s expwirwJ after fve ye 512,765 )7.177 42 WIMBLEDON GUILD OF SOCIAL WELFARE Company Regislralion number." 383330. Charity registration number.. 200424 Regislefed Office. Guld House. 30132 Worpbe Road, Lor*Yon SW19 4EF Website: w4w.wiM￿ed0n uild.co.uk Wim￿edon Guld of Swial Welfare I'The Guld'} is constituled as a cOmp￿Y limrted by guarantee and is registered for charilable PUTkMyJes wilh the Ch￿ty Commission. Guild's wverning document is ils Memorandum arKI Articles of Associalion wK