Wimbledon Guild WIMBLEDON GUILD OF SOCIAL WELFARE ANNUAL REPORT AND ACCOUNTS YEAR ENDED 31 MARCH 2024 Company No. 383330 Registered Charity No. 200424
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Index Report of the Board of Trustees (including the Strateglc Roport) . Statement of theTrustees' Responsibilities...................................................... 19 3-18 Reportof the IndependentAuditors.......................................................... 20-22 Statement of Financial Activltles..................................................................... 23 Balance Sheet............................... 24 Cash Flowstatement.................................................................................... 25 Notes to the Flnancial Statements.................................................................. 2642 Legal and Administratlve details...................................................................... 43
WIMBLEDON GUILD OF SOCIAL WELFARE (a Gompany limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 TABLE OF CONTENTS l. Overvlew 2. Achievements, Perfomiance and Future Plans Tackling loneliness and social isolation in Merton. Supporting people in Merton who are experiencing difficulties in life. Supporting older people in Merton to live full, active, and healthy lives. Creating a welcoming community which supports our aims. 3. Finan¢lal Review and Results ft)r the Year 11 4. Principal Risks and Uncertainties 12 5. Flnancial Management Policies 14 a) reserves b) investmenl policies and performance c) investmenf properties 6. Stru¢ture, Govemance and Management 16
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 The Trustees of Wimbledon Guild of Social Welfare present their Annual Report for the year ended 31 March 2024 under the Charities Act 2011 and the Companies Act 2006, including the Directors, Report and the Strategic Report under the 2006 Act, together wilh the audited financial statements for the year. Aims and Objectlves Wimbledon Guild was established in 1907 to provide financial. social and practical support for the diverse communities in the Wimbledon area. Wimbledon Guild's purposes, as set out in Ihe objects contained in the Articles of Association are.. "To promote all or any chantable purposes for the benefit of Wimbledon and District and the communities theor,. 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 face life's challenges alone" Our services focus on.. Tackling loneliness and social isolation in Merton. Supporting people in Merton who are experiencing difficulties in life. Supporting older people in Merton to live full. active and healthy lives. These three seNice objectives are underpinned by a fourth objective describing our culture and environment- Creating a welcoming community which supports our aims. Stat¢m•nt of Public Benofit The Tfustees have complied with the duty in section 1715} of the Charities Act 2011 to have due regard lo public benefit guidance published by the Charity Commission. All aspects of Wimbledon Guild's WOTk are open to the people of the London Borough of Merton ILBM), and Wimbledon Guild continues lo provide an extensive range of social welfare services, working in partnership with numerous voluntary and statutory organisalions. Strategic Report 1. Overview The London Borough of Merton has a dislincl demography. Wards in the Wesl (Wimbledon, Raynes Parkl tend lo have more affluent and older populations. Wards in the East (Milcham, Mordenl tend lo have a younger, more ethnically diverse population with higher levels of deprivation. We aim lo meet the needs of all local people following Ihe pattems of demand. Typically, our services for older people tend to be focussed in the Wesl and services tackling povety and supporting mental health tend to be focussed in the East.
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 2023-24 marked the second year of our five-year business plan. The focus of the plan was the redevelopment of our headquarters sile, with an assumption that service growth would be limited. The intention was to fund the new development via a part dispo.sal of the sile. In pffjctice, the property market has remained depressed, with little short-lemi prospect of making a sale. Consequently, the project has not progressed at the anlicipated pace. However. demand for services has continued lo grow significantly and so in early 2024 we decided to revisit the business plan in the context of current circumstances. Despite the delays with our larger redevelopment project, we successfully acquired a lease from the London Borough of Merton on a double shop unil in Morden, creating a local base for people who may find it difficult to reach Wimbledon. Morden is neither the most affluent nor the most deprived town ntre in Merton and is frequently de-prioritised for investment. Local people have told us how much they appreciate our new facility. The lease is for ten years, wrth a five-year break and the propety has been refurbished lo a high standard, offering services that are particularly relevant to local communities. 2. Achievements, Perfomiance and Future Plans Many activities and services now significantly exceed pre-pandemic levels of demand. as we witness the long-term mental health and financial consequences of Covid and the cost-of-living crisis. We also see redUd local governmenl and NHS resources generating increased demand for our setvices. a) Reduce social isolation and loneliness. Background Reducing social isolation and loneliness is a cross-cutting theme which guides much of our work. Our Community SeNices' total client numbers are comparable to last year. 2022123 3,475. 2023124 3.431. During Ihe year we introduced our new Beacon database which is already enhancing our data capture and analysis. As an example, we noticed a significant increase in attendance at our activity sessions in the final quarter, with around 600 parti¢ipanls compared lo around 500 in previous quarters. We believe that the increase is due to the expanding range of activities on offer and their locations throughout Merton. A wam7 and friendly place. I felt very welcomed. Each and every memberof the staff is courteous and kind. I feel like a diffent person since my visits, What we have achieved and how we have achleved it Betriendin Service Our Befriending offer comprises three elements- a seNice for people aged over 65, partially funded by Public Health, a second service called Connect and Befriend, which is funded by an NHS Tackling Inequalities Grant and supports 10 clients, and a third, an under-65 Befriending Project for people who do not meet the criteria for the other seryices bul are isolated and have comparable needs. Overall, 192 clients were befriended in the year, compared to 172 in 2022123. Befriending is largely delivered by volunteers. In common with many other charities, we have found it more difficult lo attract regular volunteers posl -Covid. with 52 volunteers active in the last quarter of 2023124, Compared with 69 in the same period in 2022123 and 90-100 during most of the Covid perii)d. 32 % of clients are from BAME communities, steadily increasing e8ch year from 210/0 in 2018119.
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limiled by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Communit En emenl The CommLJnily Engagement Team delivers our activities programme for older people. The programme has expanded continuously since the end of Covid. p-COV1d we tyPlC811y saw 350 participants each quarter. This lolal has now increased by 700/0 to 600 in the final quarter of 2023124. Almost 60010 of our activities are exercise sessions and the team works constantly to develop new networks and connections so that we can offer a varied range of activities, appealing to as wide a demographic of older people as possible. Many participants have been badly affected by the cost-of-living crisis and activities are at low or no-cost to ensure that they are as affordable as possible. The proportion of men attending activities has remained conslanl over the last two years at 210/0 and the proportion of BAME community members has also remained constant al 24°/o for the same period. Our plan is to increase representation from these groups further by inlroducing additional activities in more accessible locations throughout Merton. people, 'Wimbledon Guild has given me confidence and energy to attend activit18s and meet The Café 2023124 has seen café customer numbers increase by 45 /0 compared with 2022123, with a lolal of 8,414 visitors. Average daily attendance is now 40, with an occasional maximum of 52, compared with 20 last year. Around 60010 of café customers also attend activities, underlining the benefits of our comprehensive offer. Customers value the high-quality menus, warm welcome and sense of connectedness offered to everyone. Around 25 volunteers work in the café, including former chefs who bring a wealth of experience and creativity. Approximately eight of the volunteers have long term conditions or additional support needs. We regularly celebrate religious and Cultural festivals and Tun a very popular monthly 'culture through cuisine, programme with talks and menus drawing on the heritage of our customers and volunteers, focussing recently on Mauritius, China and Hungary. 'Il has helped me be social, gain Confiden and lrfts my mood hugely, 'Volunteers are all MaellOus. All so kind and pat18nt' '1 love it here, Future Plans We envisage that our new Morden Base will have a significant impact on wmmunilies that we do not ordinarily rea¢h. sin it opened in early 2024 visitor numbers are increasing as our marketing initiatives take effect and word of mouth spreads. Talklng Therapies What we have achieved and how we have 8¢hieved it Over the past year we made significant progress in our aim to expand our Talking Therapies service and make it more accessible. We now offer shorter term therapies and group sessions which may feel more user-friendly for people who have not previously used any fom of mental health support. We have secured funding from City Bridge and the Big Lottery to support the growth of these services. The key presenting issues across our Talking Therapies seNices were anxiety, depre88ion, relationship issues, low self-esteem and trauma, broadly consistent with previous years. We achieved high levels of clinically reliable change. with all seNices exceeding the 40 % benchmark and some achieving 100 /0. 'Very supportive care and an excellent SeICe, 'It h8s given me the opportunity to see myself differently. I do fe81 much strongel.
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Emotional Su ort Grou Emotional support groups continued to offer a valuable resource throughout the year, with new referrals increasing lo 66 in 2023124 from 10 in 2022123, creating an associated increase in assessments. Total partlClP81ion in groups (number of attendees x number of groups) reached 782 in 2023124 compared to 672 in the previous year. Groups offer art therapy, mindfulness and support for people displaced by the Ukraine conflicl. '1 have learned to relax mo. lo think positively, not to concentrate on the war back home. '1 feel prolecled, and I feel calmness, Assertiveness and Boundaries Worksho Beeen June and September 2023, we We Commissioned by the NHS lo lead a pilot programme of workshops supporting mental health, delivered in locations throughout Merton to m8ximise participation. Following the success of the pilot, we secured additional NHS funding to deliver more extended courses for people with long term health conditions, disabilities and BAME communities. Individual Counsellin Our long-term counselling service provides Iow-COSt therapy lo individuals for up to 60 sessions, although most clients tend to finish after approximately 35 sessions. Around 30 /0 of clients are allocated a therapist within six weeks of assessment, compared with 18 /0 in 2022123. 48 /4 wait more than three months. an improvement on last year's figure of 590/0, but demonslraling that demand still exceeds supply, especially as much of the service is delivered by volunteers who may have specific skillsels or limited experience. leading to restrictions on the clients that they are able to accept. Closure of Gounsellin Trainin During the year we closed the counselling training programme. Many trainers moved to online working during Covid and subsequently we found that there was insufficient appetite for in-person events to make our training offer viable in a crowded marketplace. One staff member was made redundanl as a result of this closure. Future Plans In June 2023 we piloted a new BAME counselling seNice in partnership with the Merton Ethnic Minority Centre. Initially funded by Ihe NHS. we have now secured a five-year grant from the Big Lottery lo continue the project. The servi¢e can see ten clients al any one time for up lo 16 sessions and has quickly reached capacrty with an active waiting list. In October 2023 we seCUd City Bridge Funding to deliver an online counselling SeiCe and online group for people with hoarding behaviours. Despite detailed research and preparation. take up for the hoarding group was limited. The fvllder agreed that we would replace it with a group for people with long-lerm health ¢onditions, working closely with the stroke exercise and social groups delivered by our Community Engagement Team. b) Help people who are experlencing difficultles. What we have achleved and how we have a¢hieved it Our Wellbeing Support Team provides setvices for older people who are experiencing difficulties
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Short Term Wellbeing Support - Internally funded by Wimbledon Guild, offering up to 12 weeks, support. Merton Uplift- Funded by South West London St Georges Mental Health Trust, offering practical help to older people weiving community mental health services from Ihe Trust. Conlinuous Support- Funded by Merton Council to support older people with longer term or recurring difficulties. Comrnunity Hub - a joint helpline project with Age UK, funded by Merton Council Short tem) Wellbein 321 new referrals were received in the year, a 10.10 increase on 2022123, itself a 60 % increase on pre-covid years. New referrals were arriving at a rale of approximately five each week and a total of 426 people accessed the seNice over the year. As part of the support that the team offered lo clients, 2,517 contacts were made with other organisations and services including South-wesl London Law Cenlre, Social Services and Merton's Handy Person service. We clearly saw the impact of the Co8t-of-Living Crisis and focussed on incorne maximisalion via Attendance Allowance claims, grant applications and referrals to CAB for benefits appeals, amongst other things. Most of the new clients were referred by Social Pres¢ribers1130/0 increase compared lo last year) or were self-referrals123°10 increase compared lo last year) as a result of word-of-moulh inform8tion. The number and proportion of men accessing the seNice is gradually increasing1350/0 ompared with 33°/o last year} and we have also seen a steady increase in representation from BAME communities, from 24ty/0 to 33 /u over the last two years. During the year we saw a sharp increase in complex referrals for people with moderate to severe mental ill-health. This represents a long-term Challenge for us as we explore how best to respond lo this client group given their levels of clinical need. Merton U Merton Uplift offers four weekly one-to-one wellbeing sessions to clients a$$essed by South West London St. George's Menlal Health Trust {SWLSTG) as experiencing mild-moderate merrtal health conditions. including depression and anxiety. The project connects clients with local services and Wimbledon Guild aclivilies, helping with daily living and social isolation. It also delivers workshops promoting emotional wellbeing. 22 0/¢ of Uplift clients are men and 340/0 are from BAME communities. We believe that our Morden base will help grow the service, reaching people who have difficulty visiting Wimbledon. I found it very helpful and useful forme and I'm so glad and trying my best to get improving, Continuous Su Clients for this longer-lerm service are vulnerable, with significant health conditions. They are isolated and need MO regular intensive support Ih8n our Short-Term Wellbeing Team can offer. The seNice is smaller. with less turnover than our short-lerm service. In 2023124 we supported 163 clients, an 11 /0 increase from 146 in the previous year and far exceeding the contract target of 110. Hub The Hub was set up as a Covid Helpline and continues to be funded by Merton as a 'front door, to the local voluntary se¢lor.11 is a point of contact on 8 range of issues, particularly for cost-of-living support. The volume of calls has grown over the three years since its InpIlon with a 13./0
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 In¢ase over the last year and 1,728 calls taken compared with 1,162 in the first years. Calls are sometimes simple information requests141 /ol, but many result in a need for more complex casework159Q/o Welfare Grants Historically Wimbledon Guild has made individual hardship grants from its own resources as part of ils charitable activities. Pre-covid this amounted lo an average annual expenditure of £70k. However, since Covid and the subsequent Cost of Living Crisis, this programme has been supplemented by funding from the London Borough of Merton, primarily via central government's Household Support Fund. In 2023124 we received and disbursed £193k (includes administration costs} from this programme in grants to 483 local people. This is a lower number than the previous year1530 people} as costs have increased dramatically. As an example. the average cost in 2018 of purchasing and installing a standard electric cooker was around £160. The current average is around £380, with a continuing upwards trajectory. Future Plans We envisage that demand for individual gran1$ will remain high over the nexl year. We will continue to ensure that our seTvice is accessible and as welcoming a$ possible as 44Q/o of applicants identify as having a disability, with half of Ihal total identifying as living with a mental health condition. We will continue to take a holistic approach often financial problems are linked to other problems. Our external funding was confirmed after the beginning of the financial year and we estimate that il will be around £1 Ook, approximately half the previous year's total. We are assessing the best way lo continue lo provide financial support whilst balancing our budgets against the totality of local need. le to be active and health c) Enable older eo Vwhat we have achieved and how we have achleved it We offer a varied and inclusive programme of social and exercise activities each week. Around 60 /0 of the sessions offer physical exercise at various levels of intensity from seated yoga through to walking football and tennis. We have seen a 370/0 increase in participant numbers compared with last year and a 60°/o increase on pre-pandemic levels. 981 participants engaged in activities in the year. 'The welcoming and non-judgemental atmospheTr immediately put me at ease, Merton Moves coTrlinues lo play a significant part in supporting older people's access to physical activity. Merton Public Health funds one staff member who acts as the Merton Moves coach, encouraging older people to take a six-week pledge to attend exercise classes of their choosing, at no cost. Exercise plans are tailored to meet individual needs and our coach checks in regularly to offer support and encouragement. A total of 240 people have completed the programme since its inception in 2021. A high proportion of participants come from BAME communities1400/0 compared with our other activities1240/0l. There is also higher representation from wards in the East of the Borough132°1ol compared to our other activitie$1240/0l, with numbers increased since last year. .1 have re-found my Confiden thanks to Wimbledon Guild. My daughters are so happy with my improvements, I feel calmer, my physical health has impmved, and my blood pressure has stabilised,
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Future Plans We have experienced a huge increase in demand for exercise activities over the year, with 60 enquiries about Merton Moves in the last quarter, in contrast to the more usual 20-30. This appears to have been due to local authority publicity. This demand means that we have not always had capacity in our classes lo deliver the programme and we now have a waiting list for the first time. We have also amended criteria for accessing the seNice to focus on participants with health and mobility issues. The huge increase in nurnbers h88 stl¢hed capacity and we are reviewing how best to continue with this very popular programme whilst recognising the resourcing limitations. d) Create and sustain an envimnment that su rts our mlssion. Volunteers play a vital role in our service delivery and over the year we have averaged 130-140 volunteers at any one time. During Covid we averaged around 200 volunteers. The decrease in numbers mirrors a widely reported national trend. Volunteering in our café remains very popular but more isolated roles away from our base le.g. befriending vulnerable clients in their homes) can be harder to fill. We are reviewing our volunteer recruilmenl and induction processes. and developing insights from our new Beacon database that may help us adapt our approach. We are ensuring that all volunteers have training, support and role descriptions and that their conlrib(Ation is recognised through regular consultation groups and social events. Pleasingly, we are seeing a gradual increase in volunteers from the East of the Borough since we opened our Morden base. Our Trustees (who are themselves volunteers) are very grateful for the huge contribution that volunteers make to the lrfe of Wimbledon Guild. Future Plans In early 2024, the Senior Management Team worked lo develop a new business plan with the Centre for Charity Effectiveness at Bayes Business School, City University. During 2024125 we will run further sessions with Trustees and staff to consider our organisalional priorities and long-term fvnding aangementS, including reviewing our aspirations for our site redevelopment. 10
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 3. Financial Review and Results for tho year 2023124 The net operating deficit for the year was £701,3441202Y23.' £596,272 net deficit). The investment portfolio has improved over the last quarter of the year and produced an overall gain of £934.82212022123'. £1,107,014 loss}- We incurred losses on the write off of fixed assets £55.75612022123-£254.000 gain}. The performance of the investment portfolios are reported in more detail in the Investment Policies and Performance section of the Report. Accordingly, the nel gain for the year was £177.722 {2022123'. £1.449,286 nel deficit) Total income for the year of £2,331.91212022123.' £2,260,815) was up 3.1 OA. Grant income of £696,452 was down by £9,81311.4D/ol. The slight decrease is partly due to lower levels of grants awarded to Wimbledon Guild by the London Borough of Merton ILBMI due to grant agreements coming to an end. Our other sources of income continue to be rent81 income from the residential properties and investment income from our various portfolios. Rental income generated £597,12712022123 - £560,767}. while investment income was up 3.50/0, returning £ 721,79712022123 £697,715). The higher investment income reflected the higher porffolio value in posilive equity market conditions. Vvimbledon Guild and its investment managers operate a total relurn approach to Investments. Tradirsg aclivilies generated £ 83,763, down by £ 7,22218Q/ol. This reflects lower renlal income in Guild House during the previous financial year, which included the closure of the Chiropody service. There were a higher number of activities al Guild House and Drake House. This resulted in income from our Community Services rising by 41 /. from £64,699 10 £ 91,093. Income from our therapy sessions and counselling training events fell by 18.40/0 from £57,293 to £46,746. Expenditure for the year of £ 3,033,255 (2022123. £2,857,088) was up 6 /.. Expenditure on charitable activities of £2,654,717 was up 7 0/0 and expenditure on raising funds of £ 378,538 was stable. Staff costs of £1,837,637 were up 11 0/0 reflecting the cosl-of-living increase awarded for the year 16 /0} plus the recruitment of new staff18ee note 10}. In order lo support the charitable activities of Wimbledon Guild, and with the approval of the Board, £1,600,000 was withdrawn from the portfolio managed by Cazenove made up of £ 1,232,847 from the investment property sales proceeds account and £ 367,153 of Inveslment income. The financial position al 31 March 2024 continues to be strong, with lotal net assets of £32,425,997, including free reserves of £503,898. Wimbledon Guild has considered the guidance set out by the Charity Commission, follows the Institute of Fundraising's code of fundraising practice and is registered with the Fundraising Regulator. We have not received any complaints in respect of our fundraising practices and our fundraising is managed in a way that is neither detrimenlal to Wimbledon Guild's reputation or the wellbeing of the people or parties involved. 11
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Wimbledon Guild generated £ 90,685 of income from fundraising comprising £ 86.027 from individuals and £4,658 from legacies. The fundraising team also generated £48,002 from Trusts and statutory fvnding and £ 27,340 from events. In considering the appropriateness of preparing the financial statements on a going nCern basis the Trustees have taken account of all available information about the future including considering information from approved budgets. and from forecasts covering the next 3 years for income, expenditure, and cash-ffows. Given Wimbledon Guild's ability to access the Expendable Endowment funds to continue to support its charitable activities. The Trustees have concluded that il is entirely appropriate to prepare the financial statements at 31 March 2024 on a going concern basis. Trading Subsidiary Wimbledon Guild's trading subsidiary, Wimbledon Guild Promotions Limited, has been dormant since 1 April 2016. 4. Principal Rlsks and Uncertalnties The Trustees have developed a risk fr8mework that clearly differentiates between the nature of risks Ihe charity faces, which are.. Corporate strategic risks, which impact Wimbledon Guild's ability to deliver our strategy. Operational risk$, which are associated with identifying potentially inadequate internal practices, policies and systems that might result in a loss to the organisation,. and Project risks, which are associated with specific, individual projects. Corporate strategic risks are the main focus of the Trustees, and these have been updated during the year. As at 31 March 2024 the principal strategic risks currently facing the Charity, and the plans and strategies lo manage risk. are.. 12
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Risk Plan$ and strate 10$ to mana e risk Failure to redevelop Wimbledon Site effectively. gorous financial scenario planning. appropriately qualified and experienced external advisors. robust selection process for advisors and for contractors. appropriate skills mix in staff team. development of appropriate procurement processes. share relevant information with individuals and organisalions to ensure customer base Is maintained during construction period. effective PR and marketing lo generate local support and understanding for the projecl. review all options for maintaining seryices, including communications and engagement aclivities and exploring opportunities for delivering services in atternalive local venues. adoption of Safeguarding best practice in terms of policies, procedures and training for all staff, volunteers and trustees. recruitment of appropriately skilled and professional staff and volunteers. continuous training of new and existing staff and volunteers. taking appropriate professional advice and actin on it. ensuring resourcing levels are consistent with ambitions. ensure appropriate and timely internal and external training for all staff and volunteers. structured approach to workforce planning. open, positive working relationships positive approach to problem solving. invest in high quality IT hardware and software to support our services and evidence the ualit of our services. Damage to Wirnbledon Guild's reputation through the growing complexity of our work which puts u$ in contact with vulnerable people who are experiencing difficulties in their lives. Loss or lack of skilled and motivated staff and volunteer group to deliver services because of reliance on goodwill, expanding workloads, increasingly complex and demanding casework. 13
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 For full details of the charity's risk policy and risk management practices see pages 17. This is the end of the charity's Strategic Report as required by the Companles Act 2006. Financial Managoment Policles a) Reserves Wimbledon Guild had total funds of £32.4m at 31 March 2024. of which £17.1m are reslricled. Of the unreslricled funds of £15.2m, £0. 92m can only be realised by disposing of tangible fixed assets, and £13.8m can only be realised by disposing of Investment Properties. The remaining £0.5m represents free reserves. Restricted Fund- Expendable Endowment In 2015116 the Trustees established a special trust ("Expendable Endowment") which is administered by Wimbledon Guild as trustee. The trust is held as an endowment fund and the income from the trust ('special trust income'l and, at Wimbledon Guild's discretion. all or part of the capital is applied for the furtherance of those aspects of Ihe charitable objects of Wimbledon Guild which are concerned with the provision of welfare seNices and relief and prevention of poverty, relief and prevention of ill health and provision of charitable support to the elderly. During 2023124 the trust generated special trust income of £692,707 {2023'. £668,825). In the year £542,533 {2023.' £650,593) of speci81 trusl income wag used for Wmbledon Guild's charitable purposes. Al 31 March 2024, the expendable endowmenl was £16,891,187 {2023.' £16.919,5361. Free Resee$ The Trustees have adopted a reserves poli¢y which they consider appropriate to ensure the continued ability of Wimbledon Guild lo meet its objectives. Free reseNes are defined as that part of Wmbledon Guild's funds that are freely available for ils general purposes. An appropriate level of free reserves is required to maintain a level of readily re81isable assets.. to sustain Wmbledon Guild's operations within the London Borough of Merton through periods of economic downturn and uncertainly for long enough to take remedial action. to develop new setvi¢es or expand current ones in line wilh the changing needs of the community, whilst supporting existing Clients and staff during periods of change. to ensure that delays in the receipt of expected income do not interrupt services or cause serious financial difficulties. to survive unexpected setbacks and problems arising from intem81 or external causes. The Tnjslees have reviewed the required level of free reserves, Expendable Endowment funds, Ihe risk profile of Wimbledon Guild and ils plans for the future. In considering the minimum level of free reserves the Trustees have taken account of the quantum and accessibility of the Expendable Endowment fund and Wimbledon Guild's discretionary powers to draw capital down when required to fund certain of the charitable 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 abotjl 2 to 2.5 months of annual expenditure. 14
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 The Trustees will continue to drawdown capital from the Expendable Endowment when required to meet the operational needs of the charity. This situation will be reviewed on an ongoing basis. b) Investment Policies and Perfomiance Il's been an eventful 12 months- coming into 2023, there were expectations Ihat most major developed markets would enter a recession due to higher inflation and interest rates. However, these markets showed greater resilience, especially the US economy. Financial and geopolitical risks have been overlooked by the markets so far. This can be attributed, in part, to the enthusiasm surrounding technology, particularly artificial intelligence. The adoption of Al by mpanIeS in various sectors has generated optimism. The "magnificent 7" us technology companies, such as Microsoft and Nvidia, have played a significant role in equity market retums and now conslilule nearly one-third of the US stock markel. In the bond markets, the focus has been on inlerest rate expectations. Toward8 the end of last year, there was a notable rally as markets priced in anticipated rate cuts for this year. However, these expectations have been scaled back since the beginning of the year. Inflation, particularly in the US. has not fallen as much as central bankers had hoped, mainly due to services and rents not declining. Despite these factors, the overall performance of the markets in the last e1ve months has been stronger Ihan anlicipaled. Over the last 12 months to 31 st March 2024, the investment portfolios have returned +10 /.. 12022123 2.4 % - negativel. Pleasingly, over the shorter temi we are now seeing returns above that inflation plus 4. target which has been trickier over Ihe last two years Fixed Asset Investments at 31 March 2024 were £17.6m {2022123- £17.6m). Immbledon Guild's total investment portfolio was managed by Cazenove Capital Management {'Cazenove'l. Part of the Cazenove portfolio is held as an Expendable Endowment fund (see ReseeS section a ill. The other investments are available to support the free reserves described in Reserves section an ii). The Board has given Cazenove discretionary powers to manage the portrolio within its objectives. Cazenove meet the Inveslmenl Committee twice each year to discuss the portfolio and determine future policy. The Cazenove portlolio is managed on a total return basi8 Wlth the investment objective to provide funding for certain of Wimbledon Guild's charitable purposes while preseNing the capital base in re81 terms. Specifically. the investment objectives are: to seek a total return of 4Yo plus Consumer Price Index per annum on a five-year rolling basis,. and investments lo provide funding for charitable purposes of 4°/0 of the capital value per annum. The Cazenove portfolio rose by 10 10 over the course of the year. Overall, the net realised and unrealised investment gains reported for the year were £ 879,066 {2022123'. £1,107,014 lossl. 15
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 As reported in the Financial Review seclion of the Report, to support the charitable activities of Wimbledon Guild, and with the approval of the Board, £1,600,000 {2023'. £1,105,000) was withdrawn from the portfolio managed by Cazenove. The management of the cash deposits is delegated to Senior Managemenl within approved limits. c) Investment Propertles The residential properties have been valued at 31 March 2024 at £13,820,000 {31 March 2023- £13,820,000). In undertaking the valuation, allowance has been made for the tenancies in place. The valuations of the Investment Properties al 31 March 2024 were carried out by Carter Jonas, a propety consultancy firm. In each case the valuations were undertaken by members of the Royal Institution of Chartered sey0r$ IRICSI and were subsequently approved by RICS Registered Valuers. Property management continues to be outsourced to Bells Commercial (Bells), a local property management company, and the maintenance of the buildings is overseen by the Properties Committee. Structure, Governance and Management Wimbledon Guild is a Company Limited by Guaranlee and a Registered Charity. The governing body of Wimbledon Guild is the Board of Trustees (the 'Board'l, comprising 9 members who meet at le881 four limes a year. Trustees are elecled for three-year terms and a eligible lo stand for re*leclion for further three-year temis up lo a maxirnum of nine years. Thereafter, Trustees may be re-elected for additional one-year lems if 75°/0 of the Board of Trustees present at a meeting of the Board have voted in favour of a 808rd resolution recommending their re-election. Each new Trustee is given an induction programme, and all Trustees have the opportunity lo receive additional training. A register is kept of the interests and the identified skills of the Trustees. The main responsibilities of the Board are setting the strategy for Wimbledon Guild and monitoring its implementation, setting and monitoring the budget, and exercising financial oveNiew. Trustees and senior staff regularly meet to consider areas of individual work in greater detail. The Board has established formally Consliluled sub-committees, each with terms of reference and functions delegated by the Board. The Chief Executive Officer andlor Head of Finance and Resources attend all the subcommittee meeting$, as do the appropriate Senior Managers. The Truslees delegate the day to day running of Wimbledon Guild to the Senior Management Team. The Senior Managers, together with the Chairman, Vice Chairman and Ihe Treas{Jr meet quarterly to review current issues. Weekly operational meetings are held by the Senior Management Team. The Board, where appropriate. uses the Code's principles, rationale and key outcomes to evaluate the effectiveness of governance within Wimbledon Guild. The Board regularly reviews its governance procedures, taking legal and consultant advice as appropriate and has also undergone training in Diversity and Inclusion over the last financial year. 16
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 Rlsk and Intornal Control The Trustees have over811 responsibility for ensuring that Wimbledon Guild has an adequate system of controls, financial and otherwise. They are also responsible for safeguarding the assets of Wimbledon Guild and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. The Trustees musl ensure Ihal.. mbledon Guild's assets are safeguarded against unaulhorised use or disposition. accurate records are maintained, and financial information used within Wimbledon Guild or for publication is reliable- and Wimbledon Guild complies with relevant laws and regulations. A corporate risk register is maintained, updated and reviewed regularly by the Trustees and management. As part of this process the Trustees acknowledge their responsibility for Wimbledon Guild's system of internal control and reviewing ils effectiveness. It is also recognised by the Trustees that such a system is designed lo manage rather than eliminate the risk of failure lo achieve Wimbledon Guild's objectives and can onty provide reasonable, not absolute, reassurance against material misstatement or loss. The Trustees have set policies on risk and internal controls, which cover the following.. the responsibility of management to implement the Trustees, policies and identify and evaluate risks for their consideration on an ongoing basis. consideration of the type of risks Wimbledon Guild faces. the level of risks which they regard as acceptable. the likelihood of the risks concerned malerialising. Wimbledon Guild's ability to reduce the incidence and impact on the business of risks that do materialise. the costs of operating particular controls relative to the benefit obtained. arrangements for monitoring and reporting on risk and control matters of importance, together wilh details of corrective action being undertaken. The Board has established a formally constituted sub-committee, the Finance and Risk Committee with temis of reference approved by the Board to ensure Wimbledon Guild is financially sound and prudent. The Committee meets at least four limes a year and reports to the Board. During the year the Trustees have received reports from the Chief Executive and Senior Managers relating lo risk and control. These include an overall report on the status of the risk management process and the system of internal control at the end of the year. The Charity Commission guidance for both risk and internal control was used in this process. The reports have satisfied the Trustees that the above policies are being implemented. Areas of high risk a reviewed by Ihe Trustees to ensure adequate mitigation of the risk. At the year end, Wimbledon Guild's system of internal control was deemed adequate and effective and major risks properly addressed. Senior Management Remun&ratlon The Senior Management Team comprised the Chief Executive Officer, Head of Finance and Resources, Head of Community SeNices, Head of Talking Therapies and Head of Communications & Fundraising. The lolal salaries and benefits of the Senior Managemenl le8m in the year were ££389,787 (20222123- £397,994}. The fall is partly due lo the reduction in hours of a member of the team. 17
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limiled by guarantee) REPORT OF THE BOARD OF TRUSTEES AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 The senior management remuneration approach generally encompasses main factors.. Internal job evaluation which takes account of the distinct elements of the roles, as well as an internal comparison of roles at senior level., and External pay benchmarking based on market factors. I senior staff receive an annual appraisal and feedback from Ihe Chief Executive about how they have contributed lo Wmbledon Guild's strategy, and any personal development areas they may have. 18
WIMBLEDON GUILD OF SOCIAL WELFARE {a Gompany limited by guarantee} STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees ale responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees lo prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable ¢ompany and of the incoming resources and application of reSoUs, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Truslees are required to: select suitable accounting policies and then apply them ¢on8lStently. obsetve the methods and principles in Ihe Charities SORP. make judgments and estimales that are reasonable and prudenl. stale whether applicable UK accounting slandards have been followed, subject to any material departures di10$ed and explained in Ihe financial slalements: and prepare the financial statements on the going concern basis unless il is inappropriate to presume Ihal the charitable company will continue in business. The Trustees are responsible for keeping adequate accounling records that are sufficient to show and explain the charitable company's Iransactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Acl 2006 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of Ihe charity and hence for taking asonable steps for the prevention and detection of fraud and other irregularities. STATEMENT OF DISCLOSURES TO THE AUDITORS So far as the Trustees are aware. there is no relevant audit informalion las defined by Section 418 of the Companies Act 20061 of which Wimbledon Guild's auditors are unaware, and each Trustee has laken all the steps th81 they ought to have taken as a Trustee in order lo make them awa of any audit informalion and lo establish that Wimbledon Guild's auditors are aware of that information. AUDITORS Crowe U.K. LLP has expressed its willingness to continue as Auditor for the next financial year. This Annual Report of the Trustees and the Strategic Report, under the Charities Act 2011 and the Companies Act 2006. were approved by the Board of Trustees on 17 July 2024 and are signed as aulhorised on its behalf by.. Susan Cooke - Chairman Sandy Pfeifer-TTrasurer 15 July 2024 19
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Independent Audltor's Report to the Mombers of Wimbledon Gulld of Social Welfare Oplnion We have audited the financial statements of Wimbledon Guild of Social Welfare ('the chanlable company,) for the year ended 31 March 2024 which comprise the Sialement of Financial Activities, Balance Sheet, Statement of Cash Flows, and notes to the financial statements, including signific8nl 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 Ihe financial statements.. give a true and fair view of the state of the charitable company's affairs as of 31 March 2024 and of ils income and expenditure, for the year then ended. have been properly prepared in accordance wtth United Kingdom Generally Accepled Accounting Practice., and have been prepared in accordance wilh Ihe requirements of the Companies Act 2006. Basis for opinion We Conducted our audit in accordance with International Standards on Auditing IUKI {ISAs {UKI) 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 slalements in the UK, including the FRC'S Ethical Standard, and we have fvlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern. In auditing the financial slalemenls, 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 nol identified any material uncert8inlies relating to evenls or conditions Ihal, individually or Collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a periixl of at least twelve months from when the financial statements are 8Uthorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem 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 rnprIseS the infomalion included in the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statement$ does not cover the other information and, except to the exlenl otheiSe explicitly ststed in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, Consider whether the other information is materially inconsistent with the financial slatemenls, or our knowledge obtained in the audit or olhetwise appears to be materially misslaled. If we identify such material inconsistencies or apparent material misslalements, 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 mi88tatemenl of this other information, we are required to report that fact. We have nothing to report in this regard. 20
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Opinions on other matters prescribed by the Companles Act 2006 In our opinion based on the work undertaken in the course of our audit Ihe information given in the Iruslees, report, which includes the direclors, report land the strategic reportl prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements., and the strategic report and Ihe directors, report included within the trustees, report have been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception. In light of the knowledge and understanding of the charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in Ihe strategic report or the directors, report included within the trustees, report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate and proper accounting records have not been kept,. or the financial slalements are not in agreement with the accounting records and relurns.. or certain disclosures of trustees. remuneration specified by law are not made- or we have not received all the information and explanations we require for our audit. Responslblllties of trustees As explained more fully in the trustees, responsibilities statemenl sel out on page 19 the trustees (who are also the directors of the charitable company for the purposes of company law} a responsible for the preparation of the financial slalements and for being satisfied that they give a true and fair view, and for such internal control as the trustees detemine is necessary lo enable the preparalion of financial statements that are free from malerial misstatement, whelher due to fraud or error. In preparing the financial statemenls, the trustees are responsible for assessing the Charitable company's ability to continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the charitsble Company or lo cease operations, or have no realistic allemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not 8 guarantee that an audil conducted in accordance with ISAS IUKI will always detect a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and non-compliance with laws and regulations are set out below. A further description of our SponSibl1111es for the audit of the financial statements is located on the Financial Reporting Council's websrte at.. wNw.frc.or .uklaudilorsres onsibililies. This description forms part of our auditor's report. The extent to which the audlt was considered capable of detecting irregulartties. in¢luding fraud. Irregularities. including fraud, are inslances of non-compliance with laws and regulations. We identified and assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud or error, and discussed Ihese beeen our audit team members. We then designed and performed audit procedures responsive to those risks. including. 21
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) Opinions on other matter$ prescribed by the Companies Act 2006 obtaining audit evidence sufficient and appropriate to provide a basis for our opinion. We obtained an understanding of the legal and regulatory frameworks within which the charitable company operates. focusing on those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial slalements. The laws and regulations we considered in this context were the Companies Act 2006 and the Charities Act 2011 together with the Charities SORP IFRS 1021. We assessed the required compliance with these laws and regulations as part of our audit procedures on the related financial statement items. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements bul compliance with which might be fundamental lo the charitable company's ability to operate or to avoid a material penalty. We also considered the opportunities and incentives that may exist within the charitable company for fraud. The laws and regulations we considered in this context for the UK operations were General Data Protection Regulation, Employment Law and Health and Safely legislations. Auditing standards limit the required audit procedures to identify non-compliance with Ihese laws and regulations lo enquiry of the Trustees and other management and inspection of regulatory and legal correspondence, if any. We identified the greatest risk of material impact on the financial slalements from irregularities, including fraud. to be within the recognition of grant income and the override of controls by management. Our audit procedures lo respond to these risks included enquiries of management about their own idenlifi¢ation and assessment of the risks of irregularities, sample testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory correspondence with the Charity Commission, and reading minutes of meetings of those charged with governance. Owing lo the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have property planned 2nd performed our audit in accordance with auditing stsndards. For example, the further removed non-complian with laws and regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of T7on-deleclion of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of inlemal controls. We are not responsible for preventing non-compliance and cannot be expeed lo delect non-compliance with all laws and regulations. Use of our report This report is made solely for the charitable company's members, as a body. in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken $0 that we might slate lo the charitable company's members those mallers we are required to state lo Ihem in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit wotk, for this report. or for the opinions we have formed. Jayne Rowe Senior Statutory Auditor For and on behalf of Crowe U.K. LLP Slatulory Auditor London Date: 26 July 2024 22
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 (incorporating an Income and Expenditure account) Restricted Unrestricted Income Funds Funds Endowment Funds Total 2024 Total 2023 Notes Income from.. Donations and a¢le$ Charitable actiiAties Cxher trading aclimties InStMentS 90,685 744,029 83,763 29,089 90,685 1,435,668 83.763 721,796 79,669 1,392,446 90,985 697,715 691,639 692,707 1343,9061 947,566 1.040,A40 er 19 343,906 343,906 2,331,912 Total income 2,260,815 Expendlture on: Raising funds Charitable acts'wties Total expenditure 359,9C18 1.760,823 2,120,731 18,630 378.538 2,654.717 3,033.255 377,178 2.479,910 2,857,088 893,894 893,894 18,630 Operatlng (Deficitllsurplus 11.173,1651 146,546 325,276 1701.3431 1596,2731 gainsllk)sses) on inSInEnts Gain on reluatIon and sale of Investment Pr¢¥)erties TTansfers Net incomellexpendlturel 14 37,080 897,742 9¥822 11, 107,0141 155,7571 1.251,367 59,525 {55,7571 254,000 {1,251,3671 128,3491 146,546 177,722 11,449,286) Reconclliation of funds Totsl funds brought foward 19 15,187,056 141.683 16,919,536 32.248,275 33,697.561 Total funds carried forward 19 15,246,581 288,229 16,891,187 32.425,997 32,248,275 TOTAL RECOGNISED SURPLUS AND DEFICITS The company has no recr4nised surpluses or deficits other than the deficit or surplus shown abo. For the purposes of the C(mpanies Act, net lincomel of £177,722 12023.'£ £1,449,286) is total inc of £2,331,91212023: £2,260,815), minus total eyndilure of £3.033,25612023'. £2,857,088) ,plus net gain on Investrnents of £934.822 {2023.f £1,107,014 lossl and plus loss on revaluation of InStMent Properb"es of £55,75612023- £254,00 gain). The notes on pages 24 to 43 form part of these financial staten*nts. 23
WIMBLEDON GUILD OF SOCIAL WELFARE (a Gompany limited by guarantee) BALANCE SHEET (Company Number 383330} AS AT 31 MARCH 2024 2024 2024 2023 2023 Notes FIXED ASSETS Tangib assets Insent Properties Inlestments TOTAL FIXED ASSETS 12 13 14 922,683 13,820,000 17,616,718 32,359,401 856,094 13,820,000 17,580.422 32.256,516 CURRENT ASSETS Debtors Cash at bank and in hand 15 16 203.894 51,893 195,466 69,401 TOTAL CURRENT ASSETS 255,787 264,867 LIABILlEs Creditors- amounts falling due lIhin one year 17 189,191 273,108 NET CURRENT ASSETS 66,596 18,2411 TOTAL NET ASSETS 20 32,425,997 32,248,275 The funds of the charity: Restricted funds Endowrenl funds Restricted in¢ome funds 16,891,187 288,229 16,919,536 141,683 17,179,416 17,(1.219 UnrestTlCted fundy Free Reserves InvestnEnl Properbes Reser Fixed Asset Reser 503,898 13,820,000 922,683 510,961 13,820,000 856,094 15,246.581 15,187,055 TOTAL FUNDS 19130 32,425,997 32,248,275 ApprOd by the Board of Trustees on 15 July 2024 Mrs S Cooke- Chairrnan S Pfeifer - Treasurer Company I}. 383330 24 The notes on pages 24 to 33 form part of these financial staterrents.
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee> STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Note5 2024 2024 2023 2023 Cash flows from operating actlviti&s Net cash provided by (used inj operating activities 21 11,554,506) 11,176,866) Cash Ilows from investlng activitie5: Diifidends and interest from in¥estTTEnts Income and capital lthdrawaL% from instMents Purchase of tangib fixed assets Net cash provided by (used in) investing 8Ctivilies 721.099 28,488 878,901 63.002 1,176,508 44.686 12 1.536,998 1, 160,310 Change in cash andca5h ewivolents In the rengperlod 117,5081 116,5561 Cash and cash equlvalents at the beginning of the reporting period 69.401 85.957 Cash and cash e(pJivalents at the end of the re)n9PerI0d 16 51.893 69,401 25
WIMBLEDON GUILD OF SOCIAL WELFARE (a ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 1. ACCOUNTING POLICIES Wimbledon Guild of Social Welfare is a charity Iregislralion number 2004241 and a company limited by gtJ8ranlee incorporated in the United Kingdom Icompany number 83271311. 11 is governed by its Memorandum and Articles of Association incorporaled 15 October 1943 as amended by special fesolulion al 6 O¢lober 2009. lal Basis of Preparatlon The financial stslemenls of the Charity, which is a public benefit entity under FRS 102, have been prepared vnder the historical cost convention as modified by the inclusion of inveslmenls al rnarkel value and Investment Properties al Fair Value. and in accordance with Accounting and Reporting by Charities.. Slalemenl ol Recommended Practiee applicable to charit16s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20151- (Charities SORP IFRS 10211, the Finan¢i81 Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Company information is provided on Page 43. Ibl Going ¢oncern After waking enquires. the Trustees have a reasonable expaclation that the charity has adequate resourcey lo continue its activities lor the foreseeabl8 lulure. Accordingly. they continue to adopt the going concern basis in preparing the financial stalemgnls as outlined in Ihg Slalement of Trustees Responsibilities on page 18. Icl Accountlng Estimates and Judgements Preparation ol the financial slalemenls requires management to make significant judgements and estimates. The items in the financial statements where these jvdgements and estimates have been made include the following.. In determining the Fair Value of Investment Properties. assumptions are madg about uncertain ftjlure events on those assets at the balance sheet dale. Assumptions Ljsed are based on historical experience and expectation of future evenl$ 8nd are updated with new information. The effects and risks of estimation uncertainly have been assessed by applying appropriate sensitivity analysis to flex key assumptions, such as Rents and Open Market Values, and identify how robust the model outputs are in practs'ce. The conclusion of the sensitivity analysis is that there would need to b& an extreme movement in Markel Values for there lo be a material impact on the valuation of the portfolio, and there is no evidence that this has happened since the reporting date. The Trusltres are satisfied that the Fair Value valuation at 31 sl March 2024 is materially accurat&. Idl Income Income is re¢ognised where the charity has entit16menl lo the funds, il is probable that the income will be received, and the arnount can be measured reliably. Grant Income is recognised where the charity has enlillemenl to the funds, any performance conditions allached lo the grants have been mel. il is probable that the income will be received, and the amount can be measured reliably. Lega¢ies are recognised on the earlier of the dale when amounts are received or when the charity has been notified of the executor's intention lo make a distribution. The sale of m8als, shop sales. donations and other voluntary sources are dealt with on a cash basis. Donated goods received for re-sale are récognised at point ol sale. Investments comprise interest and dividènds which are recognised when receivable. Gifts in kind include donated goods and services. These contributions are in¢luded in the financial statements al an estimate based on the value of the contribution to The Guild which is the amount the charity would have been willing lo pay lo obtain goods or services of equivalent economic benefit on the open market.. a Corresponding amount is then recognised in expenditure in the period ol receipt. (¢1 Expenditur¢ Expenditure is cOgniSed once there is a legal or conslruclive obligation lo make a payment to a third party, it 1$ probable that settlement will be required, and the amount of the obligation can be rlleasured reliably. Expenditure is classified under the following haadings.. Expenditure on charitable activities which are incurred directly in fulfilling the charity's objg¢lives', Expenditure incurred in raising funds. Support costs, including irrecoverable VAT, are allocated lo these expenditure headings based on square footage for premises costs, lime spent for salaries and relaled expenses and approximate usage for other expenses. 26
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 In Voluntary help A significant amount of time is èxpended on the company's a¢livilies which is donated free of charge. It is not Possible lo qijantify the value of time given and accordingly il is neither recorded as donated income nor as an expense in the financial statements. Igl TangSbl• fixed assets Items are Capilalised when the total cost or market value of the whole project exceeds £5,000. Depreciation is provided on all fixed assets, including freehold land, and 8re depreciated over their tjseful economic lives on a slraight-line basis as follows.. Asset Category Annual Rate Freehold land and buildings 2 /0 on cost or valuation Motor vehicles 200h on cost Furniture and equipment 10% on cost Computer equipment 33Qk on cost Ihl Investmènts Investments are stated at market value. The income arising on the investments is shown under Investments in the Statement of Financial ActNities. Gains and losses on investment assets disposed of are shown as Net gains and losses on investments in the Statement of Financial A¢tivllies. Gains and losses on investment assets held al the year-end are unrealised and 8re also shown as Net gains and losses on investments in the Statefflenl of Financial A¢livities. lil Investmént Properties Investment Properties are properties held to eam rentals and for capital appreciation and are stated al Fair Value at the balance sheel dale. Gains or losses arising from changes in the Fair Value of Investment Properties arg included in Slalement ol Financial Activilies for the pgriod in which thgy arise. (il Cash at bank and in hand Cash al bank and in hand includes cash and short-term liquid investments wf(h 8 short rnaturity of three months or less from the dale ol acquisition or opening of the deposit or similar account. kl Financial Instruments The Company only has financial assets and financial liabililios of a kind that qualifies as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequendy easured at settlement value. {11 Stocks No account is taken of the stock of food and provisions al the year-end as this is considered lo be immaterial. {ml Ponsion Costs and othar post-retirom•nt benefits The charity operates a defined contribution pension scheme. Contributions payable lo The Guild's pension scheme are charged lo the Statement ol Financial Activities in the period lo which Ihey relate. Inl Lease ¢ommitments Rentals paid under operaling leases are charged lo the Statement of Financial Activities on a straighl-line basis over the term of the lease. lol Fund Accounting Unreslrieted funds comprise those monies which may be used towards meellng the charitable objectives of the Charity al the discretion of the Trustees. Designated funds are monies sel aside out of unreslri¢led funds and designated for specifi¢ purposes by tha Trustees. Restricted funds are monies received and their use restricted lo a specific purpose, or donations subject to donor-imposed conditions. 27
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Expendable End(>wmenl relates to funds held on Iwsl lo be retained for the benefit of the Charity as a capital fund. 11 is distinguishable from unreslricled funds in that there is no requirement to spend the funds until the Charity Trustees d&¢ide lo. 2. DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2024 Total 2023 Legacy incorre t)onalions and COants 4,658 86.027 ,685 4.658 86,027 90,685 5.521 74.148 79,669 Unrestricted Unrestricted Funds Funds 2024 2023 3. OTHER TRADING AcTlEs Rentsl Incorr Drake Pbuse Fundraising ents 35,297 21,126 27,340 83,763 44.075 20.240 26,670 90,985 4. INVESTMENT INCOME Unrestrlded Restricted Funds Funds Total 2024 Tot21 2023 Bank and Buikjing Society accounts Dimdends receiwdble from in the UK Diiridends receivable from outside the UK 699 1,590 38,790 26,801 653,917 29.090 692,707 699 40.379 680,719 721,797 9,335 33,730 654,650 697,715 5. CHARITABLE ACTIVITIES Unrestricted Restricted Funds Funds Total 2024 Total 2023 Incon ComThJnity SeNces Tavrfing Therapies HDusing Rents Cxher 86,906 46.746 597,127 4,250 735,029 4,187 91,093 46,746 597,127 4,250 739,216 64,699 57,293 560,767 3,423 686, 182 4.187 28
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 5. CHARABLE ACTivmES Icont'dl Unrestricted Restricted Fund$ Funds Total 2024 Total 2023 Grants London Borough of Merton South West London & Sl C*orge's Trust AgeUK -community Hub Merton Clinical commisonIng Group Age UK Merton Merton Voluntary Serifice Council The Wirnbledon Foundab'on The Doughty Fami Foundation The Peacock Charitsble TrLJSt The LC Taussig charitab Trust A Nelson & Co The D'fyly Carte charitab Trust South Wesl London Trains Merton City Bridge Foundab'on Everyone Heallh Ltd nro Nations Senfice IICSIICBI Oher 313,017 87,813 95,205 25,000 9,300 313,017 87,813 95,205 25,000 9,300 430,355 81,971 78,538 25,000 31.232 3,4eo 2,4S8 5,000 7,000 3,000 1,OCHJ 3,0( 33,(KX) 8,453 8,453 5,000 10,000 4.000 5.000 10.000 4.lJOO 29,750 32,202 6,162 1,000 68,687 863 9,000 687,452 29,750 32,202 6.162 1,000 68,687 863 696,452 1,250 706,264 Total Charitable Activltlos 744,029 691,639 1.435,668 1,392,446 DirKt Costs Support Costs (Note 81 Total 2024 Total 2023 6. EXPENDuRE ON RAJSING FUNDS Charity Shop Costs of Fundraising Itment Anagement Fees Drake Fbu5e (Iher IlnKestrnent & Market'ngl 2,370 124,804 56.189 19.888 29,103 47,010 32,454 52,705 14,015 246,777 131,761 2,370 180,993 48,991 79,464 66,720 378,538 13,350 175,764 45.260 78,750 ,054 377,178 Direct Costs Support Costs (Nota 81 Total 2023 Totsl 2023 7. EXPENDuRE ON CHARABLE ACTIVITIES Community Serlices Talking Therapies Fknusing Social Work (including (>ief Supw)rt SenA¢esl Oher 729,110 296,217 502,928 136.731 156,449 79,065 470.036 121,636 162,545 2,021,068 633,649 1,025,327 1.043,688 639,659 599,128 235,514 274,680 591,672 406.957 162,545 155,457 2,654,717 2,479,910 29
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS BY ACTivrrY (Notes 6 and 71 Staff Gov8rnan¢e Gen•ral Costs Costs Offico Costs Facilities Costs 2024 Total 2023 Totsl Amended Community SeN¢es Talking Therapies Fknusing Social Work 149,053 52,371 33.681 66,989 302,094 27,339 9,114 17,181 11,128 64,762 102,227 55,953 10,423 37,014 205.617 17,598 19,293 17,780 6,505 61,176 296,217 136,731 79,065 121.636 633,649 289,087 125,188 70,334 110,493 595,102 Raising funds 74,942 377,036 39,196 103,958 15,975 221,592 1,648 62,824 131,761 765,410 128.733 723,835 E4)enditure on support cos& are allocated to expenditure on Charitab actiwtses and eypendilure on raising fund5 based on square footage for prernises Costs, estirnated b'me spent for salaries and related e)penses and approjimate usage for other eypenses. Last years fugures ha been amended due lo a change of rreth(MJology in cost allocation NET IEXPENDITUREII INCOME FOR THE YEAR This is stated after charging.. 2024 2023 Q)erab'ng kases Depreciation (see note 121 Auditor's remuneration.. Audit fees 46,516 55,644 35,977 50,938 17,IXIO 15,0 .10. STAFF COSTS Staff costs during the year Kere as foll.. 2024 2023 Wages and salaries Social security costs Pensions 1.807,334 1,435,599 137,872 135,377 92,431 79,948 1,837,637 1,650,924 Statutory redundancy Costs re £25,74412023- NIII The arage monlhly headcount S 50 stsff12023-49 staff) and the rage number of full-time equiwdlenl staff analysed by function w3S'.- 2024 2023 Direct charitabke Raising Funds
%ernance and Support 31 29 41 39 30
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The enployees who had enlurrEntS, elUdIng pension conlribulions, e>Leeding £60,000 in the year ere..- 2024 No. 2023 £50,001 to £60,000 £60,00110 £70,000 £70,001-£80,000 £90,001 to £100.¢XKJ The charity trustees tre not paid or reCeId any other benefits from emFAoyment with Ihe charity (x ils subsidiary in the year12023- £nill, neither Kere they reimbursed eynses during the year 12023 - £nill. No charity trustee reCeId paynEnt for professional or other seNces supplied to the charity12023- £nill The key management personnel of the charity comprise the Chief Executive Clficer, Head of Finance and Resources, Head of Talking Therapies, Head of Community SeriAces and Head of Communications & Fundraising. he total employee benefits of Ihe key management personnel of the charity Kere £389,78712023- £397,994). 11. RELATED PARTYTRANSACTIONS Since 1983, Wimbledon ¢Ik1 has been Ihe Trustee of the WimbOn Resettlement Fund IWRFI, charity registered 1th the Charity Commission (Charity No.2345751, thich promdes grants for men and Mornen and their dependants resident in the London Borough of Merton wlh a connects.on to Wdr- tirrE seNces. The GUI is responsib for adfninislering and managing the allairs of WRF. During 2023124 the Guihj paid granis of £9,5291202>£4.5451 on behaw of WRF, and the balance due to the Guikl from WRF al 31 March was £15,41512023-£4,545). 31
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. TANGIBLE FIXED ASSETS Land Plant and and Motor Buildings Equlpment Vehicles Total Costlvaluation At 1 April 2023 Addits'ons Write ofts 1,238,601 33.967 1108.3181 374,613 144,021 16,6711 20,000 1.633.214 177,988 1114,9891 As at 31 March 2024 1,164,250 511,963 20,000 1,696,213 Accumulated Depreciation Al 1 April 2023 Charge for the year Write offs As al 31 March 2024 476,706 24.294 52,559 448,441 280,411 31,35D 6,671 305.090 20.000 T17,117 59,230 773,530 20,000 Net Book Values As at 31 March 2024 715,810 2[,873 922,683 As at 31 March 2023 761,891 94,203 856,094 The nixEd use propeTties owed by the &ikl and premousty accounted for wthin tangib fiyEd assets tre reclassified as InStn*t Properties in 2020 (see note 131 All of the land and buildings are freehdd properties. Depreciation Is taken on the cosvvaluation of the freehokl buiklings. Without a Cfxrplete Wdlualion it is not possible lo separate the cost of the land and the Board of Trust5 consider that the depreciation charged of 2D/o per annum on the total c051 is reasonable. The wile off1£55,767) relates to the Mitcham Shop lch was disposed of in the preMOUS financid year. 2024 2023 Anatysis of costs and Irdluation of land and buildings". Historical cost 1,208,476 1,208,476 1.208.476 1.208,476 32
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 "13. INVESTMENT PROPERTIES The loss on disposal of £55.757 on the SOFA reLates to the write off of assets linked lo the Mtcham shop Value al 01 April 2023 Disposal Residual Value Gain on Disposal Rewdluation Value al 31 Arch 2024 13,820,QOO 13,820,WO 13,820,OLX) The Guild has a residential property Portfolio based in the Wimbledon area. The porffolio is of miyed use and has preiAousW be treated as land and buildings wthin tangible fixed assets. Follwng the Financial RepoTb"ng Council's triennial remew published in Decenl)er 2017 the Trustees determined in 2020 that the residential properties, ak9 1th single retail property Shou be classified as InStment Properties. The Wdluations of the InSent Properties al 31 March 2024 we carried out by Carter Jonas, a property consultancy firm. The Yaluab'on of the Guild's residenb'al properb'es ere undertaken by members of the Royal Institution of Chartered suryOrs IRICSI and the valuabons approved by RICS Reaistered Valuers. The residential properb'es been Vdlued usng the hlarkel Value melhod of Vdluation applied to each of the Guild's residential properb'es. In undertaking Ihe valuation allowance has been made for the tenancies n place. Therefore, an investrnenl meihod of valuation, retying on current passing rents for properb'es subpcl to a tenancy has been used. .14. FIXED ASSET INVESTMENTS 2024 In the UK 2024 Outside the UK 2024 Total 2023 Total Listed Investmgnts Market ye at 1 April 2023 Additions Disposals Nel investnnI gainlllossl Market alue al 31 ltsrch 2023 1,289,541 509.e52 15781 28,979 1,827.594 14.743,431 16,032,972 17,689, 509,652 118.0531 118,6311 1550.1} 905.843 934,822 1,107,014 15.631,Z21 17.458.815 16,032.952 Cash for Instrent InSnents at 31 March 2024 157.9)3 1,985.497 15T.903 1,547.470 17.616,718 17.580.422 15,631,221 H'storical cost a131 March 2024 378,495 16,692,443 17,070,938 16,718,214 Ch 19th March. 2015 Ihe Guild estsblished a 0¥ed trading subsidiary, WG PronM)'ons Limited, a company registered in England and Wales, Cofflpany Number 9497808. The corvpany was lorrned primari tr> undertake trading actimbes to raise monies for The (ajild but has been dormant since 1st April 2016. Ai 31st March, 2024 the GUI,$ instn*nl its subsidiary coryany is £1. Tepresenling the cost of the Cal up ordinary share capital of WG PrOnlOnS Limited. The Guikj also owns one ordinary £1 share1100D/.l in Springfield Court WimbOn Linited, Company NumtEr 08349741, ¥thich was incoTpof8ted on 7 January 2013. The company is not 33
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 .15. DEBTORS 2024 2023 Trade Debtors Ott)er Debtors Prepayrnents 15,759 131,181 56,955 203,895 34,803 87,810 72,853 195,466 .16. CASH 2024 2023 Cash in hand and at bank 51,893 69,401 51,893 69,401 .17. cREDORs- amounts falllng due within ono year 2024 2023 Trade Creditors Oher Creditors Accruals and deferred income Isee trOw} 28.271 66,222 94,698 189,191 11 S,569 51,059 106,480 273,108 Deferred Income 2024 Balance al 1 April 2023 Amount released lo income earned from charitsble and other trading 8ctiMtses Amount deferred in the year Balance at 31 March 2024 80,062 180,0621 45,098 45,098 Deferred income of £45,C)98 Consists of ticket sabs £12,160 for the Event (Juty 20241, r&ei in advance, £32,938 in relation lo grants1£15,250- Merton and £16,423 in reLalion to the Conynunity Hub) and other income. .18. FINANCIAL INSTRUMENTS 2024 2023 Financial assets ffaSUred al cost Financial liabilities measured al cost 1,560,095 1,554.233 94,493 166,628 Financial assets include Debtors. and Cash-in-hand and on deposit. Financial liabilities include trade and olher creditors. 34
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19. FUNDS Net Incoming Resour¢es Inv'mnt resoUrS 0Xnded gn'slllos's) Prop's Rewn Balan¢es 31 March 2024 202W24 1 April 2023 Tr'ers Endowments E¥pendable Endownent Property Funds Portrolio 1.232,922 Total Endownents 16,919,538 Restricted In¢omg Funds Weware Fund rton Cimc Pride Welbeing Support Talking Therapies 15,686,616 325.380 {18,6311 897,747 16,891.112 18,526 343,906 11,251,373 1,251,373 75 18,891,187 18,631 897,747 75,341 193,383 1210,3321 58,392 49,431 149,4311 Iicsi 29,328 129,3281 SWLSTG rtOn Ll)lifl -Wellb&ng Support The Merton COVID-19 Community response Fljb Winter. Warm & Well Grant Mu5i¢al LBM- Talknr Therapies Befriending IICSI SupFort for Ukraine City Bridge Foundation Merton Ve5 NHS Merton CCG (Grief Support) The Wimbledon Foundation The Peacock charitab Trust CAher E4)endable Endo1 capital distribution Special Trust incon lcazen0> 87,813 187,8131 13,090 95,205 191.8711 16,424 12,267 5,295 55,179 4,187 152,7921 16,8861 14.654 10,570 42,601 110,5701 146,1511 14,6501 5,205 5,940 1,655 1,290 32,202 29,750 I7,1) (41,11) 25,052 11,400 12,917 25,000 {37,9171 8,453 14eoi 7,993 10,000 10.(X)O 227 12271 1343,9061 343,906 692,707 {198,6271 1343,9061 150,174 TotAI Restricted income 141,681 1,021,903 875, 129 227 288,229 35
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2023124 1 Aprll 2023 Incoming Resources Inv'mnt resource5 expended gn'slllos's) Prop's Tr'ers 31 March 2024 Unrestricted funds Ceneral Fund Fixed Asset Rese InvestrvEnl Propertie5 Rese Total Unrestricted Funds 510.961 856,094 947,565 12,180.3041 3,587 37,078 1.188,598 63,002 503,898 922,683 13,820,000 13,820,000 15,187,055 947.565 2,176.717 37,078 1,251,600 15,246,581 Total Funds 32.248 275 2,313,375 3,070,477 934.825 32.425,997 The Ejpendable Endownent was estsblished by a Iruslee declaration of tru51 dated 16th Juty 2016 The charitsb trust Created is administered by Wirnbledon Guild as Trustee. The Endovrtnent is forTvEd principal friThn the proceeds of the sath of Wimbledon Guikj's care home, plus other residential propeth'es in 2014115. 11 is a capital fund there all incowE, and at Wirrbledon Guikl's discrets'on, all or part of the capital is applied for the furtherance of Ihose aspects of the Charitab objects of Wimbledon Guild thich are concerned rith the proinsion of weware sermces and relief and prents.0 of prty, relief and prntIOn of ill health and proifision of charitable 5UPPOrt to Ihe elderty. The Trustees apprOd the transfer of £343,906 from the Eypendable Endwnent to restricted income funds. The funds re utilised during the year in accordance wlh the objects of the trust lo promde Weffare sennces. The In$tEnt inc(YrE generated from the Expendable Endovrnt instMentS is included in Reslricled Incon Funds as'special Trust InconE', and is used lo fund the charitable objects of Wimbledon Guild as defined in the decFaration of trust dated 16th Juty 2016. The Board agreed to add the prixeeds of the sakn of 2 properties £1.325,000 to the fund dufing 2022-23. Ihe Weware Fund is made up of donations earnrked for Etrare use. Small grants are gIn out to indiifiduals, in line 1th the 0.eCts of the Charity. The Ciiric Pride grant was awarded lo Wimbkdon Guild by London Borough of Verton for a period of 3 years starting on 1st April 2023. Its purpose5 are lo proifide ongoing and practical emotional support for people oT 60 wth cury)lex needs. and to facilitate 3 emotional support groups to ir0 confidence and motivation and dek)p. Talking Therapies ICS- Funding lo pride one to one counselling f bLack and Asian crmnunities. Merton Lljlift is a partnership btheen the NHS and local KJlunt2ry sector organisations thich started in April 2019. As part of Merton Ll)lift Wimbledon Guikl has been a8rded a 3 year contract by South West London Sl Georges Mentsl Farth Trust ISWLSTGI lo promde Wellbeing Sernfices as part of the Merton Wlift progra. This ha5 been extended by a year. The Merton COVID-19 Cornmunity Response HLJb is a partnership bemeen Age UK Merton and Win*)ledon Guikl. It was sel up in March 2020 lo help isolated households and those at risk from COVID-19. 36
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Wimbledt)n Guikl agreed with Musical Mowng to take ower the running of dance classes for peopte wlh Parkinson's, and h reCeId grant and legacy nleS to SUPPOrt the program. LBM Talking Therapies - Support for Ukrainians is funding promded by the Land Borough of VErton lo promde enth.onal support group for Ukrèinians. Age UK Befriending setmce is a partnership 1th Age UK ertOn funded by the Iwal council, thereby Wimbledon Guild promdes a f&e to face befriending serwce and trains and supports lunteer befrienders. City Bridge Project- Prwding online one to one therapy for people Inho are housebound. Merton mOS represents funding frcffl Merton Council to promde one to one support for peop over 60, encouraging physical acliiity. The NHS Merton Clinical Conyrissioning Group grant of £25,000 is used lo part fund a bereawrnl senAce delired by Wirrbledon Guikl to help people aged 16 and abo 0 are bered or approaching bereawxent. The WirTdOn Foundats'on represents funding to support new enY)ts'onal support and social groups in east Merton The Peacock charitab Trust represents funding alth8ted to purchasing a new ninivan. The In%estrEnl Properties Reserve represents the valuations of the residential properties owned by Wimbledon Guild and rented out to tenants. The FixEd Assets ResernEs are represented by tangib fixed assets and are not readity Con*1tib into cash. 37
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 The 2022123 mo%eTllent in funds cOrnparatiS are a5 follows'.- Net Incoming Rgsour¢es Inv'mnt rgsour¢es expended gn'slllos's) Prop's Rav'n Balances 31 March 2023 2022123 1 April 2022 Tr'ers Endowmgnts Eypendable Endownent 17,213,418 436.175 19,530 1,071,098 1,232.921 16,919,536 Rèstricted Incomo Funds Welfare Fund Merton Strategic Partnership-wellbeing Support Merton Strategic Partrer5hip -Talkn'ng Therapies SWLSTG Merton UtAifl -wellbeing Support The Merton COVID-19 coMnity responso Fljb Winter, Warm & Well Grant Musical ement Rosemary Lodge Fund Befriending IAge UK rtonl Suprx)rt for Ukraine Wimbledon Convalescent Fk)n Merton NHS Merton CCG (Grief SLJPPOrtI Everyone Proj8¢1 Oher Ejpendab Endowllent capital distribution Special Trust income Icazenovel 78.940 162,418 1166,0181 75,340 48,500 148,5001 48,500 148,5001 81,971 181,9711 78,539 165,4491 13,090 7,691 9,404 1,531 125,455 3.000 {120,8791 17,1091 11,5311 12,267 5,295 5.205 31,232 131,2321 124,0601 5,205 14,949 2.5 114,7¥2} 130,5241 227 11,400 39,299 35,000 750 500 122,0831 17501 15001 12,917 110.2021 436,175 1425,9741 18.233 668,825 650,593 Total Restricted incon 91,9)4 1,790,168 1,740,394 141,681 Unr8strl¢ted funds General Fund Fixed Set Reser%e InvestnEnt Properb"es Rese Total Unrestricted Funds 638,884 862,345 900.725 {1,040.1271 135,9131 IS),9381 47,393 44,687 510,g62 856,094 14,891,0(K) 254,000 1,325,000 13,820,000 16,392,229 900,725 1,091,065 35.913 254,OOD 1,232,921 15.187,055 Total Funds 33,697.561 2 254,714 2,850,989 1.107,011 254.000 32,248,275 38
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee} NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS Investment General Propertie$ Fixed Asset Endowment funds Rgserve Reserve funds Restricted income funds Total 2024 2024 Tangible Fwd Aqsets Inve5trnent Properties 922,683 922,683 13.820,000 13.820,000 288,229 17.616,718 Inve8trnents 437,302 16,891,187 current assets Total 86,596 503,898 13,820,000 66,596 288,229 32,425,997 922,683 16,891, 187 2023 2023 Tangible Fixed A8set5 Investment Propethes Investments 856,094 856.094 13,820,000 13,820.000 519,202 16,919,536 141,683 17,580,422 Net Current 85set5 Total 8,240 510,962 13,820,000 8,240 32.248,275 856,094 16,919,536 141,683 39
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. CASH FLOW INFORMATION RECONCILIATION OF CASH FLOWS FROM OPERATING ACTIVITIES 2024 2023 Net IncomellE4)enditurel for the reporting period las per the Statement of financial acliiriliesl AdjusknEnls for.. Depreciation charges (Note 121 Unrealised and realised bssesllgainsl (Note 141 Disposal of FikEd Asset INote121 Inv2sfvnl Property Revaluation IM)te 131 Deficit from sales of InVeStEnt propeth'eslFixEd Asset Intrnent income show) in investing actimties (Note 4) Inlestment f*s Sho in InstIng acts'irilies (Note 191 Ilncreasel l Decrease in debtors Increase I (Decrease) in short term creditors Net cash wovI(dbY (usedinj operatingactiviues 177,722 11.449,2861 55,644 1934,8251 55,759 50.938 1,107,014 179,000 1433,0001 1697,3151 20,097 140,057) 85,744 1.176,865 1114,9881 1721,098} 19.626 18,4281 83,917 1,554,506 22. HISTORICAL COSTS OF NET PKJVEMENT IN FUNDS 2024 2023 Net mowTEnl in funds Revaluation of In$tEnt Properties (Note 131 Unrealised Igainllk)ss on investEntS (Note 141 Nel Mment of funds on a historical cost basis 177,722 {1,449,2861 179,000 1,107,014 163,272 934,822 757,100 23. SHARE CAPITAL The company is consliluled as a conpany limited by guarantee. Lhder the terms of clause 7 of the Atticles of Association, in the Ent of the charity b&ng nd up every member is liable to contribute sum not exceeding £1 during the ts'me they are a nrnber or within one year thereafter. 24. TAXATION The Guild is a registered charity and is exempt from tsyats'on on inconE arising from and wended on its Charitab acliiril'es. 25. OPERATING LEASES-LESSEE At 31 March 2024, the charity had the fdlowng COnltmentS under nOn-cancellab operating ases.. 2024 2023 Obligations under operating aSeS ewiring in less than one year Cknligalions under operats'ng aSeS eypiring in one to fi years (lIgatIonS under operating bases e>piring after five years 62,302 206,646 129,500 398,448 35.154 79,818 114,972 40
WIMBLEDON GUILD OF SOCIAL WELFARE (a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 26. PENSION COSTS The corrpany has a group defined contribution pension scheme %thich all empbyees are entitled to join. The company nptches contributions rrAde by emtAoyees up to 70A. During the year ended 31 March 2024, the company's total contributions arUllted lo £92,43112023.' £79,948). £22,565 of the costs we allocated to restricted actiiribes, and £66,584 to unrestricted The CoPanY'S staging date for stsff auenr01rrnI in the pension was 1 July 2014. 27. CAPITAL COMMITMENTS The company has no authorised and contracted comilnEnts for capital e>penditure al 31st March 2024. 41
WIMBLEDON GUILD OF SOCIAL WELFARE {a company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 28. STATEMENT OF FINANCIAL ACTMTIES-COMPARATIVE INFORMATION The split of the 2023 Comparati shom on the face of the StaterrEnt of Financial Actimties btheen the separate classes of funds are as follo.. Restricted Income Funds Unrestricted Funds EndonI Funds Total 2023 Income Irom.. DDna'ons and legacies Charitable a¢tiMties Cxher trading actiiAties Instrents ljher Total in¢ome 79,669 701,182 90,985 34,987 79,e69 1,392,446 ,985 697,715 691.264 ee2,728 436,175 1,790,167 436,175 436,175 906,823 2.2eo.815 E)penditure on.. Raising funds Charitable actimties Total e>pendittJre 357,648 739,516 1,097,164 19,530 377,178 2,479,910 2,857,088 1,740.394 1,740,394 19,530 Q)erab'rrfJ (Deficilllsurplus 190,341 49,773 455,705 596,273 I gainsllbssesl on investmenLs Gain on rewdluation and sale of InStsMent 135,9111 1978,9211 11,071,103) 11,107,014) 1,232,921 254,000 Nel leypenditurellincome 1,205,173 49,773 293,887 1,449,287 Reconciliab'on of funds Total funds brought fOr8rd 16,392,228 91,910 17.213,424 33.697,562 Total funds carried forward 15,187,055 141,683 16,919,537 32,248,275 29. OPERATING LEASES-LESSOR At 31 March 2024. the fijlure minimum lease payffnts receivable under non-cancellable operating leases Ere..- 2024 2023 ligab'ons Uer operab'ng Se$ e)piring in less Ihan one year ligations under operating bases ejpiring in one lo five years CligationS under operating leases ewiring after fi years 392,640 6,711 481,712 31,053 399,351 512,765 42
WIMBLEDON GUILD OF SOCIAL WELFARE Company Registration number.. 383330, Ch8rily registration number.. 200424 Registered Office.. Guild House, 30132 Worple Road, London SW19 4EF Web511e.' www.wimbledon uild.co.uk Immbledon Guild of Social Welfare I'The Guild'l is constituted as a company limited by guarantee and is registered fof charitable purposes with the Charity Commission. The Guild'5 governing document is ils Memorandum and Articles of Asso¢iation incorporated 15 October 1943 as amendèd by special resolLJtion al 6 October 2009. THE BOARD OF TRUSTEES Honorary Officers Chairman Vice Chairman Treasurer Susan Cooke Tom IR Al Steele Sandy Pfeifer Other Mambers Karen Biggs Eniola Oladipo18ppointed 3Td October 20231 Caroline Mawhood MBE Howard Richards Amir Siddiqui Frances Haque Theresa Zlonkiewicz (resigned 3rd Octobor 20231 Simon Lealhes FCA (resigned 3rd October 2023} Director5 The Trustees of Wimbledon Guild of Social Welf8re are the charity's trustees under charity law and the directors of the charitable Company. Lifo Vlce-President Sheila Dunman SENIOR MANAGMENT TEAM Wendy Pridmore Helen Duckworth Adil Qureshi Oladipo Sokoy8 Mark Williams Chief Executiv8 Officér and General Secretary Head of Community Services Head of Talking Therapies Head of Finance and Resourcès Head of Communications and Fundraising ADVISERS Auditor$ Bankars Crowe U.K. LLP, 55 Ludgate Hill London EC4M 7JW. Barclays Bank plc, Wimbledon Business Centre, Alexandra Road, Wimbledon. London SW19 7LA Croner GroLJP, Croner House, Wheatfield Way, Hinckley, Leicestershire, LE10 1YG Cazenove Capital MarTragement, 12 Moorgale, London EC2R 6DA Russell-cooke LLP, 2 Putney Hill, Pulney, London SVV15 6AB lup till 13107120241 CCLA Investment Management, 1 Angel Ln, London EC4R 3AB IAppoinled 14107120241 Employment Investment Managèrs Solicitors 43