Charity number: 210270 CAXTON HOUSE SETTLEMENT UNAUDITED TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 371 MARCH 2021 RPG Crouch Chapman LLP Chartered Accountants & Statutory Auditor 14-16 Dowgate Hill London EC4R 2SU ## CAXTON HOUSE SETTLEMENT ## CONTENTS ||Page| |---|---| |Reference and administrative details ofthe charity, its Trustees and advisers|1| |Chair's statement|2-3| |Trustees’ report|4-10| |Trustees’ responsibilities statement|11| |Independent examiner's report|12-13| |Statement offinancial activities|14| |Balance sheet|45| |Notestothefinancialstatements|16-29| ## CAXTON HOUSE SETTLEMENT REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2021 |Trustees|S Camp, Chair and Hon. Secretary| |---|---| ||R Joseph, Vice Chair and Hon. Treasurer| ||Health & Well-Being (represented by S Daley)| ||Kurdish & Middle Eastern Women's Organisation (represented byS Salim)| ||London Capital Credit Union (represented by H Baron)| ||Experience Archery (represented byL Pittis)| |Charity registered|| |number|210270| |Principal office|129 St John'sWay| ||Islington| ||London| ||N19 3RQ| |HoldingTrustees|J Corbyn MP| ||Cllr.
M Spall| |Centre Manager|Paul Furze| |Accountants|RPG Crouch Chapman LLP| ||Chartered Accountants| ||14-16 Dowgate Hill| ||London| ||EC4R 2SU| |Bankers|CAF Bank Limited| ||Kings Hill| ||West Malling| ||Kent| ||ME194TA| |Independent Examiner|Jeremy Tyrrell BA (Hons) FCA| ||RPG Crouch Chapman LLP| ||Chartered Accountants| ||5th Floor, 14-16 Dowgaie Hill| ||London| ||EC4R2SU| Page 1 ## CAXTON HOUSE SETTLEMENT ## CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2021 The chair presents her statement for the year. Following a year of anxiety, lockdowns and restrictions, we are all now slowly returning to a new ‘normal’ in our lives. At the time of writing this report, we no longer have mandated restrictions and are beginning the process of restarting as many of our face-to-face services and activities as we can, mindful of the need to still prioritise the safety of our residents, groups, staff, volunteers and communities. In the last 12 months, the effects of the global coronavirus pandemic continued to have a profound effect on organisations and individuals, including Caxton House, its staff, and the activities and projects we support. Right from the start of this pandemic, our staff, volunteers and Management Committee have ensured that residents continued to be supported and the hard work of Paul Furze and Sue Collins in particular has enabled Caxton House to cope as well as it has with challenging and difficult times. Over the last year, our services and activities have been adapted to enable us to deliver these in new and imaginative ways. We have moved exercise and dance classes online, set up a You Tube channel for crafts and food kit videos, delivered hundreds of hot meals each week, supported the distribution of food and care parcels and crafts kits, collected prescriptions and medicines, walked dogs for housebound residents and made hundreds of befriending calls. We have been fortunate to be able to fundraise for core costs as well as the emergency support residents needed and we are very grateful to all our funders and supporters for adapting their criteria so quickly to allow groups to access funding to care for our local communities. In pre-pandemic times, Caxton House raises income from a variety of sources, both through external funders and through premises and office lets. During lockdowns, all our income from premises hire, fees and fundraising events stopped, and our core grant from Islington Council was an essential core base that enabled us to generate additional income, as well as being a cushion against this unexpected downturn in our ability to generate income. Like many others in Islington, we are extremely proud of the response from Islington Council, loca! residents and all the voluntary groups that responded so effectively to the crisis we faced, forming food networks for sharing supplies and volunteers, and online information forums, including ‘We are Islington’ that we all relied on to enable us to keep up-to-date and successfully signpost residents. We continue to work closely together with our partners as we face the next stage of this unfolding situation. We are grateful to Islington Council and the various charities that have helped us financially over the last year. Their support is invaluable, We are also grateful for the input of the volunteers who have aided us in so many ways and for the co-operation of ather voluntary groups in Islington. My thanks, as always, to Paul Furze and Sue Collins for the long hours, expertise and anthusiasm that they bring to their roles here. Thanks also to the other staff and our many volunteers for their hard work over the last 12 months. In addition | wish to thank all those involved in running projects at Caxton House who have taken time to help others here and input to the management of Caxton House. This includes, of course, the Management Committee members themselves and the holding trustee Jeremy Corbyn MP who continues to monitor our progress. Our thanks too to our three Ward Councillors for their continued support of our work. Thanks must also go to my vice-chair Ruby Joseph, who is a supportive and able deputy. Page2 ## CAXTON HOUSE SETTLEMENT ## CHAIR'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Finally, my thanks to our independent examiner, Jeremy Tyrrell. Sheila Camp Chair of the Management Committee ~-Date: oth Jomnany 02%) Page 3 ## CAXTON HOUSE SETTLEMENT ## TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2021 The Trustees present their annual report together with the financial statements of the Caxton House Settlement for the year 1 April 2020 to 31 March 2021. ## Objectives and activities ## a. Policies and objectives The objects of the Charity are to provide social amenities for the community in the London Borough of Islington. Caxton House Settlement is a well-established community centre that focuses on a range of regeneration, education and health programmes tackling social exclusion, crime and housing related issues, Our aims and objectives are broadly defined as: - 1) | Providing access to facilities or services which would otherwise be too costly or difficult for local people to obtain. - 2) Generating self-development and education opportunities. - 3) Organising social groups, advice surgeries and support groups. - 4) Collaborating and networking with individuals, the local authority, voluntary organisations and other community projects. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance ‘Public benefit: running a charity (PB2)'. ## Achievements and performance ## a. Main achievements of the charity Caxton House is a long established multi-purpose Community Centre that provides a wide range of diverse, innovative, highly responsive and community led services and activities to the local neighbourhood. Our primary focus is to take a leading role in the empowerment of deprived neighbourhoods and communities, to bring resources and promote cohesion. Our commitment to multiple grass roots services are assessed and influenced by the unique needs of our diverse communities and the local neighbourhood. We have a proven track-record in delivering an innovative programme of services and activities aimed at preventing and improving a wide range of complex local issues including health inequalities, employability, well-being and access to high quality advice. We have initiated a wide range of partnerships to broaden the interagency service delivery from our centre and avoid duplication to ensure our Jocal communities have access to the widest possible range of services and activities helping to tackle key issues in the neighbourhood. We place local residents at the centre of provision driven by identified local needs, and through a variety of monitoring, consultation and feedback, are able to ensure resident engagement in the design of all our services and activities. Page 4 ## CAXTON HOUSE SETTLEMENT ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ## Achievements and performance (continued) The past year has seen us all experiencing restrictions on our daily lives as we are impacted by the effects of Covid-19. This coronavirus had a profound effect on organisations and individuals, including Caxton House, its staff, and the activities and projects we support. We continued ta work closely with our partners to face these challenging and difficult times. During the various lockdowns, all face-to-face services and activities stopped and we adapted the work we do to offer emergency support as well as telephone and online services. As restrictions eased, we restarted face-to-face services and activities as soon as we were able to, all of which were adapted to ensure they were being delivered within relevant Covid guidelines. ## Among our achievements are: - . Strengthening of local democracy and resident engagement through the Hillrise Ward Partnership meetings. - « Caxton House continues to be considered an example of Best Practice with regard to Community Engagement and the effective use of space within the centre. - ’ We have continued to work in partnership with Hillside Clubhouse on a work placement programme. This involves Caxton House providing 8 week volunteer placements for people with mental health issues. - ‘ We have continued to develop, manage and deliver a range of health and welfare orientated projects which have addressed social isolation across all age ranges. - . We have expanded the opportunity for access to good quality health activities which are free or low cost, helping to tackle health inequalities, improve physical fitness and improve mental health and well being. - , We have taken a lead role in partnering on cluster groups and thematic partnerships with additional collaborations that bring in new resources, skills and join up services locally. - . Caxton House has continued in its role as the Locally Trusted Organisation for a long term resident led initiative. - . We recruited 16 volunteers to support delivery of crafts kits to over 50 residents during lockdowns - ° We recruited over 40 volunteers to support emergency food, care and medicine distribution to 200 local residents and families, - . At the start of the first lockdown, we set up a befriending service to reach residents who were isolated, vulnerable and in need of regular contact, enabling us to signpost to additional support. - . We have set up two gardening and food growing projects with seven local volunteers. - . We have continued to work with GoodGym who support our centre with gardening and ground maintenance. Page 5 ## CAXTON HOUSE SETTLEMENT ## TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ## Achievements and performance (continued) - . As we have been unable to run corporate volunteer projects, we have developed our corporate support programme with a number of corporate partners through furniture and equipment donation, which has supported our refurbishment of various areas in the centre. Our website and social media have been an important way of communicating with residents during the various lockdowns and restarting of in-person sessions. We set up a You Tube channel with videos of step-by-step guides to a wide variety of crafts and cooking sessions to support the crafts and food kits we distributed. We also set up a number of WhatsApp groups to allow residents from varlous activities to keep in touch with each other and share stories and pictures. We addeda link to our website with a video for residents and organisations to be able to see the measures we had set up in the centre to keep everyone as safe as possible, including one way systems, restrictions on numbers, social distancing measures, removal of furniture in communal areas, new signage and an increase in cleaning. Another impact of the pandemic is on the range of support we provide to smaller loca] groups, which focussed around assisting with risk assessments, updating Covid guidelines, sharing policies and fundraising opportunities and supporting financial management. Through the charity in Kind Direct we continue to receive and distribute free goods and equipment to other groups and organisations. We continue to carry out regular monitoring and collect feedback from beneficiaries which clearly demonstrate the positive impact of our projects and activities, in particular with regards to supporting our most vulnerable residents. This feedback also provides an opportunity for local residents to inform the design af additional future services and activities. ## b. Fundraising activities and income generation We aim to provide a secure and sustainable funding base for Caxton House's strategic development plans, The strategy aims to integrate fundraising and resource mobilisation as part of Caxton House's strategic priorities. ## Our objectives: - To embed fundraising as a key function within Caxton House and develop expertise and skills in fundraising within the Management Committee, staff and volunteers. - . To seek out and secure wider-collaborations with mutually beneficial Third Sector organisations, and Islington Council to join-up and grow the impact of services and activities locally. - , To strengthen the fundraising collaboration between Caxton House, Islington Council and other members of the voluntary sector and to identify and develop specialist/themed clusters to focus activities and services. - . To collaborate on joint-fundraising projects that are community-led, exciting, innovative and are underpinned by quality. Page 6 ## CAXTON HOUSE SETTLEMENT TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 37 MARCH 2021 ## Financial review ## a. Going concern After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. In the year to 31 March 2021, there was an overall surplus of £47,398 (2020: £39,575). The Trustees consider this a satisfactory result. ## Impact of COVID-19 Like most organisations, the COVID-19 coronavirus pandemic has had a significant impact on the services we have been able to deliver and has increased economic uncertainty. Caxton House continues to be a going concern as we have a number of funded projects and are in the process of developing additional services that will span several years, along with reserves that will allow us to continue to deliver our services. We have secured core funding until 2024 and have adapted our premises hire and offices to enable additional services to continue to operate. We will ensure we are current with new funding opportunities, in particular those that support any lost income and/or core costs. Our Management Committee will continue to meet regularly to review our financial position and where necessary, make prudent adjustments to expenditure and reduce costs. ## b. Reserves policy To avaid closure if funding difficulties were to happen the Trustees have as a target, the accrual of a certain level of financial reserves to ensure that main operations can continue for a set period of time of not less than 3 months. Or, should the centre face closure, appropriate reserves will be in place to cover necessary costs. Trustees will aim to have in place reserves to cover all or some of the following: - . That staff can continue working, primarily to secure new funding. . That the organisation is able to operate, running activities and services for the community for a set period of time of not less than 3 months. For this purpose, the charity aims to hold unrestricted reserves of no less than 3 months, these unrestricted reserves excluding balances relating fo fixed assets. - ‘ To meet unexpected costs e.g. urgent repairs and staffing costs. c. Financia} risk management objectives and policies Caxton House continues to operate financial) management policies on the basis of fund accounting, as described in section 1 of the notes to the financial statements. Page 7 ## CAXTON HOUSE SETTLEMENT TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 34 MARCH 2021 ## d. Principal funding The main funder of the charity during the year to 31 March 2021 was The National Lottery (£98,725) (2020: The London Borough of Islington, £87,380). in total, 66% (2020: 49%) of the charity’s income was received from funders. ## Structure, governance and management ## a. Constitution Caxton House Settlement is a registered charity, number 210270, and is constituted under a Trust deed dated 27 September 1974. ## b. Methods of appointment or election of Trustees The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. ## c. Organisational structure and decision-making policies The management of the charity is the responsibility of the Trusiees who are elected and co-opted under the terms of the Trust deed. The Charity is managed by a Management Committee elected by the membership at the Annual General Meeting whose members during the year are set out below. ## S. Camp ~ Chair and Hon. Secretary - R. Joseph Vice Chair and Hon. Treasurer - H. Baron . - S. Clark (resigned January 2021) - S. Daley L. Pittis S. Salim The Management Committee met four times during the year (virtually). ## d. Financial risk management The Trustees have assessed the major risks to which the charity is exposed, In particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks. Caxton House continues to operate financial management policies on the basis of fund accounting, as described in section 1 of the notes to the financial statements. Page 8 ## CAXTON HOUSE SETTLEMENT ## TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 ## Plans for future periods We will continue to promote Caxton House as a multi purpose community centre and Neighbourhood Partner within the local community. A key aim is to continue fo work collaboratively to deliver services that we know work, and will address fairness and poverty priorities so that we can reach more people among all generations in our neighbourhoods. We will continue to develop our community centre as a vibrant and effective community anchor - Enabling us and complementary partners to collaborate effectively - Sharing and encouraging best practice through information sharing - ~ Ensuring we continue to best serve our communities - Championing community action on local forums and with key decision making bodies - Continue to work towards becoming sustainable and resourceful by seeking out new sources of funding to stimulate and sustain collaborative working - Piloting new forms of income generation and resource sharing - Ta do this we have set ourselves a number of Key Strategic Objectives: - To enhance our Quality and Sustainability Frameworks by identifying best practice with a view to continuing to develop a strong, enterprising and listening multi purpose community centre. - To work collaboratively and in partnership with others to develop, nurture and maintain highly effective ward partnerships, in support of Islington Council’s vision for localism, cohesive communities and fairness. - To develop and deliver a portfolio of innovative, highly responsive and community led projects and activities that respond to the authentic voices of local communities in order to help neighbourhoods take ownership of improving community cohesion and wellbeing. - To contribute to tackling poverty, including child poverty and vulnerable older people, through accessible informal lifelong learning spaces, by delivering a programme of community based learning provision to engage, enable, inspire, empower and support. - To develop an effective community support network that will mobilize isolated and disengaged communities, and engage new user groups through widening participation initiatives and growing the number of diverse and fun recreational activities within Caxton House. - To foster opportunities to explore volunteering and social enterprise solutions to local service provision gaps and social cohesion issues. - To build stronger links with businesses to bring a different dimension to the wide variety of volunteering opportunities currently offered, maximise resource utilisation and embrace corporate social responsibility. Page 9 ## CAXTON HOUSE SETTLEMENT TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Plans for future periods (continued) - To significantly increase the connectivity of Caxton House with complementary Third Sector Organisations, Islington Council and private business (where appropriate) to maximise potential for developing new services and activities, and attracting new funding to the Borough. - Continue developing our fundraising strategy for Caxton House beyond statutory funding to include corporate and private sponsorship. Fundraising as a key function will continue to be embedded across all our services to provide a foundation for a sustainable funding base helping to ensure that our mission, vision and strategic development plans are met. - Committed to supporting London Borough of Islington in its aim to tackle environment and the climate emergency by achieving a net zero carbon Islington by 2030 Our vision and definition of success is to see Caxton House continue to develop as a focal point and leader for the local neighbourhood: creating innovative ways to bring resources to and empower individuals and communities; work in partnership and play an active role in the empowerment and cohesion of neighbourhoods and communities; work collaboratively and continue to offer a wide range of high quality facilities, activities and services that are resident centred and accessible to all. ## Funds held as custodian Caxton House Settlement holds funds on behalf of Elthorne Pride, a Big Local resident-led initiative in Islington. Details are included in Note 19 to the accounts. Approved by order of the members of the board of Trustees and signed on their behalf by: **----- Start of picture text -----**
S$ Camp
(Chair of Trustees)
Date: 2o| fer
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Page 10 ## CAXTON HOUSE SETTLEMENT ## STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2021 The Trustees are responsible for preparing the Trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generaily Accepted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - e select suitable accounting policies and then apply them consistently; e observe the methods and principles of the Charities SORP (FRS 102); - ° make judgments and accounting estimates that are reasonable and prudent; - ° state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - . prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to shaw and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on its behalf by: S Camp (Chair of Trustees) Date: Vof eZ Page 11 ## CAXTON HOUSE SETTLEMENT INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2021 ## Independent Examiner's Report to the Trustees of Caxton House Settlement (‘the charity’) | report to the charity Trustees on my examination of the accounts of the charity for the year ended 314 March 2021. ## Responsibilities and Basis of Report As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20141 (‘the 2011 Act’). 1 report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## independent Examiner's Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. ! confirm that | am qualified to undertake the examination because |] am a member of (enter body here), which is one of the listed bodies. Your attention is drawn to the fact that the charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn. | understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 4 January 2015. | have completed my examination. confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. ! have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Page 12 ## CAXTON HOUSE SETTLEMENT ## INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that | might state to the charity's Trustees those matters | am required to stafe to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report. **----- Start of picture text -----**
sone new Dated: 6 /.
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Jeremy Tyrrell FCA
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5th Floor 14-16 Dowgate Hiil London EC4R 2SU Page 13 ## CAXTON HOUSE SETTLEMENT STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021 **----- Start of picture text -----**
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |2021|2021|2021|2020| |Note|£|£|£|£| |Income|from:| |Charitable|activities|6|131,360|-|131,360|162,980| |Other income|107|-|107|289| |Total|income|157|244|252,435|409,679|322,872| |Expenditure|on:| |Charitable|activities|8|106,465|255,816|362,281|283,297| |Total|expenditure|106,465|255,816vee362,281|283,297| |50,779|(3,381)|47,398|39,575| |Net|movement|in|funds|ae| |Reconciliation|of funds:| |Total|funds|brought forward|222,721|72,925|295,646|256,071| |Total|funds|carried.|forward|meee273,500 ee69,544|343,044|295,646| **----- End of picture text -----**
The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 16 to 29 form part of these financial statements. Page 14 ## CAXTON HOUSE SETTLEMENT ||BALANCESHEET|BALANCESHEET|||||| |---|---|---|---|---|---|---|---| ||ASAT 31 MARGH 2021||||||| ||||2021||2020||| ||Note||£||£||| |Fixed assets|||||||| |Tangible assets|12||130,905||143,720||| ||||430,905||143,720||| |Current assets|||||,||| |Debtors|13|6,776||9,623|||| |Cash atbankand in hand||252,434||158,500|||| |||259,210||168,123|||| ||||||.||| |Creditors: amounts falling due within
oneyear|14|(47,071)||(16,187)|||| |Netcurrent assets|||212,139||151,926||| |Total assetslesscurrentliabllities|||343,044||295,646||| ||||343,044||295,646||| |Total netassets|||343,044||295,646||| ||||Sa||a||| |Charityfunds|||||||| |Restrictedfunds|15||69,544||72,925||| |Unrestricted funds|15||273,500||222,724||| |Totalfunds|||343,044||295,646||| ||||———$$_—<$—TH||ee|.|.| The financial statements were approved and authorised for [ssue by the Trustees and signed on thelr behalf by: ; **----- Start of picture text -----**
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$ Camp
(Chair of Trustees)
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. The notes on pages 16 to 29 form part of these financial statements. Page 15 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 1. General information The entity is an unincorporated trust registered with the Charity Commission in England and Wales, charity number 210270. its principal office is 129 St John's Way, Islington, London, N19 3RQ, which is also its principal place of operation. The activity of the trust remained that of a Community Centre. These financial statements have been prepared in GBP and all amounts have been rounded to the nearest £. ## 2. Accounting policies ## Basis of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports} Regulations 2008 only to the extent required to providea ‘true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Caxton House Settlement meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## Going concern The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern for the foreseeable future. The most significant consideration in reaching this conclusion is facture funding. The trustees have secured commitments which enable them to conclude that the charity can be considered a going concern for the foreseeable future, this being a period of at least 12 months from the date of approval of the balance sheet. ## Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be recaived and the amount of income receivable can be measured reliably, Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown In the relevant funds on the Balance sheet. Where income is received In advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Page 16 ## CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 34 MARCH 2621 ## 2. Accounting policies (continued) ## Income (continued) Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. ## Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## Interest receivable interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are appiled exclusively to charitable purposes. ## Tangible fixed assets and depreciation Tangible fixed assets costing £200 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs Incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Page 17 ## CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 2. Accounting pollcies (continued) Tangible fixed assets and depreciation (continued) Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives . Depreciation is provided on the following bases: Long-term leasehold ~ 2% p.a. straight line property Plant and machinery - 10% p.a. straight tine or 20 years Fixtures and fittings ~ 25% p.a. straight line ## Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due, ## Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or Jess from the date of acquisition or opening of the deposit or similar account. ## Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide, Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Page 18 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 2. Accounting policies (continued) ## Pensions . The charge to the Statement of Financial Activities is the amount of contributions payable to pension schemes in respect of the accounting year. These contributions are invested separately from the charity's assets. ## Cash flow exemption These accounts do not include a cash flow statement because the charity, as a small reporting entity, Is exempt from the requirement to produce such a statement. ## Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. ## 3. Critical accounting estimates and areas of judgment Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## Critical accounting estimates and assumptions: The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. However, the trustees are of the opinion that there are no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. Page 19 CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 4. _ Financial Performance of the Charity |||Unrestricted|Restricted|| |---|---|---|---|---| |||Funds|Funds|Total Funds| |||31 March|31March|3% March| |||2021|2021|2021| |||£|£|£| |income||157,244|252,435|409,679| |Expenditure|beforedepreciation|(24,088)|(252,435)|(846,523)| |||63,156|~|63,156| |Depreciationadjustment|adjustment|(12,377)|(3,381)|(15,758)| |||50,779|(3,381)|47,398| The trustees regard the result before depreciation of a surplus of £63,156 (2020: £54,759) as key to understanding the underlying results of the charity. 5. Income from donations and legacies ||Un-||| |---|---|---|---| ||restricted|Restricted|Total| ||funds|funds|funds| ||2021|2021|2021| ||£|£|£| |Donations|25,777|~|25,777| |Grants|-|252,435|252,435| ||25,777|252,435|278,212| ||Un-||| ||restricted|Restricted|Total| ||funds|funds|funds| ||2020|2020|2020| ||£|£|£| |Donations|2,905|-|2,905| |Grants|2,545|464,153|156,698| ||5,450|164,153|459,603| Page 20 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANGIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 6. — Incame from charitable activities |||||Un-|| |---|---|---|---|---|---| |||||restricted
funds|Total
funds| |||||2021|2021| |||||£|£| |incomefrom|from|services|provided|131,360|131,360| |||||Un-|| |||||restricted|Total| |||||funds|funds| |||||2020|2020| |||||£|£| |Income|from|services|provided|162,980|162,980| ## 7. Total expenditure ||||De-||Total| |---|---|---|---|---|---| |||Staff costs|preciation|Other costs|funds| |||2021|2024|2021|2021| |||£|£|£|£| |Social amenities||148,424|15,758|191,975|356,154| |Management and administration ofthe|||||| |charity|-Govemance|4,127|~|2,000|6,127| |||152,548|15,758|193,975|362,281| ||||De-||Total| |||Staffcosts|preciation|Other Costs|funds| |||2020|2020|2020|2020| |||£|£|£|£| |Social amenities||129,301|15,184|132,236|276,721| |Management and administration ofthe|||||| |charity|- Governance|4127|~|2,449|6,576| |||133,428|15,184|134,685|283,297| Page 21 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 8. Charitable expenditure ||Direct
Costs|Support
Costs|Total
funds| |---|---|---|---| ||2021|2021|2021| ||£|£|£| |Voluntary and Fundraising|62,714|15,421|78,135| |Premises Management& Hire|53,497|22,547|76,044| |Under 5's Stay& Play/Toy Library|9,980|741|10,721| |Community Project/Events|48,881|2,799|51,680| |Stay Well LiveWell|24,271|4,627|25,898| |The National Lottery Community Fund|98,725|5,629|104,354| |Section 106/Kitchen|-|-|-| |Awards For All|-|-|~| |Coop Community Fund|319|15|334| |Arsenal Foundation|2,500|163|2,663| |Local Initiative Projects|1,735|34|1,769| |Power toChange|10,000|683|10,683| |Other Projects|-|-|-| ||312,622|49,653|362,281| ||Direct
Costs|Support
Costs|Total
funds| ||2020|2020|2020| ||£|£|£| |Voluntary and Fundraising|36,326|48,523|54,849| |Premises Management& Hire|59,104|71,244|130,348| |Under 5's Stay & Play/Toy Library|10,830|2,736|13,566| |Community Project /Events|4,750|6,408|41,158| |Stay Weil Live Well|-|-|~| |The National Lottery Community Fund|~|-|-| |Section 106/Kitchen|30,000|1,562|31,562| |Awards for All|9,980|2,152|42,132| |Coop Community Fund|11,957|2,152|14,409| |Arsenal Foundation|2,500|949|3,449| |Local Initiative Projects|1,500|803|2,303| |Power to Change|-|-|-| |Other Projects|2,635|7,186|9,821| ||169,582|113,715|283,297| Page 22 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 9. Governance costs ||2021|2020| |---|---|---| ||£|£| |AGM &Annual Report Costs|-|469| |Independentexamination|2,000|1,980| |Managementtime|4,127|4,127| ||6,127|6,576| |10.|Staff costs||| |---|---|---|---| |||2021|2020| |||£|£| ||Wages and salaries|137,525|120,575| ||Social security costs|42,798|10,628| ||Other pension cosis|2,225|2,225| |||152,548|433,428| The average number of persons employed by the charity during the year was as follows: ||2021|2020| |---|---|---| ||No.|No.| |Social Amenities|5|5| |Management and administration|4|1| ||6|6| No employee received remuneration amounting to more than £60,000 in either year. Apart fram the trustees, who give their time freely, key management personnel comprises the Centre Manager and the Finance & Office Manager. Total remuneration for key management during the year amounted to £95,635 (2020: £88,084). ## 11. Trustees’ remuneration and expenses During the year, one or more Trustees has been paid remuneration or has received other benefits for services provided to the charity. The total value of trustees remuneration paid during the year was £3,370, The services were provided in connection with the trustees’ capacity as users of the Centre and were not related to services provided as trustees. The charity's constitution requires that the charity must have user group representation on its Management Committee. During the year ended 31 March 2021, no Trustee expenses have been incurred (2020 ~ £NIL). Page 23 CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 12. Tangible fixed assets |||Long-term|||| |---|---|---|---|---|---| |||leasehold|Plantand|Fixtures and|| |||property|machinery|fittings|Total| |||£|£|£|£| ||Cost or valuation||||| ||At 1 April 2020|523,320|58,985|3,627|585,932| ||Additions|-|-|2,943|2,943| ||At31 March 2021|523,320|58,985|6,570|588,875| ||Depreciation||||| ||At 1 April 2020|424,410|15,764|2,038|442,212| ||Charge forthe year|10,466|3,899|1,393|15,758| ||At 31 March 2021|434,876|19,663|3,431|457,970| ||Net book value||||| ||At 31 March 2021|88,444|39,322|3,139|130,905| ||At 31 March 2020|98,910|43,221|1,589|143,720| |13.|Debtors||||| |||||2021|2020| |||||£|£| ||Due within one year||||| ||Trade debtors|||709|3,083| ||Prepayments and accrued income|||6,067|6,540| |||||6,776|9,623| Page 24 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 14. Creditors: Amounts falling due within one year ||2021|2020| |---|---|---| ||£|£| |Other taxation and social security|71|71| |Accrualsand deferred income|47,000|16,126| ||47,071|16,197| ||2021|2020| ||£|£| |Deferred income at 1 April 2020|12,596|22,507| |Resources deferred during the year|44,825|12,596| |Amounts released from previous periods|(12,596)|(22,507)| ||44,825|12,596| Page 25 CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 15. Statement of funds Statement of funds - current year **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|1|Transfers|341|March| |April|2020|Income|Expenditure|in/out|2021| |£|£|£|£|£| |Unrestricted|funds| |Designated|funds| |Capital|Fund|27,137|-|-|~|27,137| |Cyclical|Maintenance|Fund|14,230|-|(9,604)|9,604|14,230| |41,367|~|(9,604)|9,604|41,367| |General|funds| |General|Funds|181,354|157,244|(96,861)|(9,604)|232,133| |UnrestrictedTotal|funds|222,721|157,244|(106,465)|-|273,500| |Restricted|funds| |Solar|Panels|33,552|-|(881)|-|32,671| |Grant|for New|Boiler|1,373|-|(500)|-|873| |Toy|Library|-|9,980|(9,980)|-|-| |LBI|Partnership|Programme|-|41,250|(41,250)|-|~| |Gentle|Exercise|-|1,452|(1,452)|-|-| |Great Get Together|-|283|(283)|-|-| |Arsenal|Foundation|-|2,500|(2,500)|~|-| |Co-Op|Community|Fund|-|319|(319)|-|-| |Kitchen|38,000|-|(2,000)|-|36,000| |HMRC|Job|Retention| |Scheme|-|14,914|(14,914)|~|-| |The|National|Lottery| |Community|Fund|-|98,725|(98,725)|-|-| |Reaching|Communities|-|24,271|(24,271)|-|-| |Power|to|Change|-|10,000|(10,000)|-|-| |London|Community| |Response|Fund|-|48,741|(48,741)|-|-| |72,925|252,435|(255,816)|-|69,544| |Total|of funds|295,646|409,679|(362,281)|-|343,044| **----- End of picture text -----**
Page 26 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 ## 15. Statement of funds (continued) Statement of funds ~ prior year **----- Start of picture text -----**
||||||||| |---|---|---|---|---|---|---|---| |Balance|at| |Balance|at|Transfers|31|March| |1|April|2019|Income|Expenditure|in/out|2020| |£|£|£|£|£| |Unrestricted|funds| |Designated|funds| |Capital|Fund|27,137|-|-|-|27,137| |Cyclical|Maintenance|Fund|14,2306|-|(6,970)|6,970|14,230| |41,367|-|(6,970)|6,970|41,367| |General|funds| |General|Funds|175,199|168,719|(155,594)|(6,970)|181,354| |Total|Unrestricted funds|216,566|.|(162,564)|.|222,724| |Restricted|funds| |Solar|Panels|34,433|~|(881)|-|33,552| |Grant|for New|Boiler|1,873|-|(500)|-|1,373| |Toy|Library|864|10,830|(11,694)|-|-| |Hillrise|Festival|786|786|(1,572)|-|-| |Funding|for|Kitchen|1,549|1,550|(3,099)|-|-| |LBI|Partnership|Programme|-|40,000|(40,000)|-|-| |Summer &|Winter|Festivals|-|4,250|(4,250)|-|-| |Gentle|Exercise|-|1,500|(1,500)|-|-| |Great|Get Together|-|500|(500)|-|-| |Event Workshop|-|300|(300)|-|-| |Arsenal|Foundation|-|2,500|(2,500)|-|-| |Awards|for|All|-|9,980|(9,980)|-|-| |Co-Op|Community|Fund|-|11,957|(11,957)|-|-| |Capital Work|-|30,000|(30,000)|-|-| |Kitchen|-|40,000|(2,000)|-|38,000| |39,505|164,153|(120,733)|-|72,925| |Total|of funds|256,071|154,153|(283,297)|-|295,646| **----- End of picture text -----**
Page 27 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 34 MARCH 2021 ## 15. Statement of funds (continued) ## Capital Fund Grants and donations towards the cost of the original fixed assets of the Settlement and subsequent additions (not being repairs) are regarded as part of the capita! fund. The depreciation charge on assets other than the solar heating panels, the kitchen and the LBI fixed asset contribution has been charged to the capital fund and interest received and investment income is credited to the fund. ## Cyclical Maintenance Fund The Cyclical Maintenance Fund represents a reserve established in recognition of the need to provide for major expenditure which is anticipated as a result of the age and high usage of the building. The trustees transfer amounts into the cyclican maintenance fund on an annual basis, depending on the anticipated expenditure in the following year. ## Restricted Fund The net book value of solar panels, which are being depreciated over 50 years, was £32,593 (2020: £33,474) at the year end. The net book value of the plant and machinery purchased with an LBI grant was £3,322 (2020: 5,221), The net book value of the kitchen donated to the charity in 2020 was £36,000 (2020: £38,000). ## 16. Analysis of net assets between funds Analysis of net assets between funds - current year ||Un-||| |---|---|---|---| ||restricted|Restricted|Total| ||funds|funds|funds| ||2021|2021|2021| ||£|g|g| |Tangible fixed assets|61,361|69,544|130,905| |Current assets|259,210|-|259,210| |Creditors due within one year|(47,071)|-|(47,071)| |Total|273,500|69,544|343,044| Page 28 ## CAXTON HOUSE SETTLEMENT ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 34 MARCH 2021 ## 16. Analysis of net assets between funds (continued) Analysis of net assets between funds - prior year ||Un-||| |---|---|---|---| ||restricted|Restricted|Total| ||funds|funds|funds| ||2020|2020|2020| ||£|£|£| |Tangible fixed assets|70,795|72,925|143,720| |Current assets|168,123|-|168,123| |Creditors due within one year|(16,197)|-|(16,197)| |Total|222,721|72,925|295,646| ## 17. Pension commitments The charity contributes to individual personal pensions. Contributions paid by the charity during the year amounted to £2,225 (2020: £2,225). ## 18. Related Party Transactions There were no transactions with related parties during the year other than those disclosed in Note 11 to the accounts (2020: None). ## 19. Funds Held On Behalf of Third Parties Caxton House Settlement held a balance of £23,724 (2020: £29,286) at the year end on behalf of Elthorne Pride, a Big Local resident-led initiative in Istington. The balance is not shown in the financial statements of Caxton House. Page 29