Charity Ré'gistration Number .' 210270 CAXTON HOUSE SETTLEMENT UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
CAXTON HOUSE SETTLEMENT LEGAL ANI) ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 21125 Trustees Cllr M Spall (Chair) M Campbell (Vice-Chair} S Daley M Facey Kurdish & Middle Eastern Women's Organisation (represented by S Saliml London Capital Credit Union (represented by H Baron) Experience Archery (represented by L Piltis) Holdlng Trustees J Corbyn MP Cllr M Safi-Ngongo Jacquline Williams Charlty Number 210270 Registered Offlce 129 St John's Way London N19 3RQ Chlef Executive Paul Furze Bankers CAF Bank Limited Kings Hill Vvesl Malling ME19 4TA Kent Independent Examlner Kathrin Kendall Keves & Hitsuji Ltd Unit A 82 James Carter Road Mildenhall IP28 7DE
CAXTON HOUSE SETTLEMENT CONTENTS FOR THE YEAR ENDED 31 MARCH 2025 Trustees, Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements
CAXTON HOUSE SETTLEMENT CHAIR'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Over the past yeai, we have continued our work as a vibrant, trusted community hub, with our building in use seven days a week, late into the evening. We have seen an increase i local need for our services and activities as residents continue to exparience rising food and energy costs and ongoing financial pressures. Our programmes and support services cover a wide range of support, including health, well-being, education, social support and commu- nity engagement. We currently have 36 projects and services running each week from the centre, with approximately half of these activities delivered with local partners. Through reg- ular feedback we ensure our activities and services remains relevant, accessible and re- sponsive to the realities faced by the Communities we work with. We have also hosted a wide range of COMMnitY and Cost-of-Llving events involving more than 20 organisations and supported by over 60 volunteers, helping local residents ac$$ advice, support, con- nection 2nd practical asS151ance during another challenging year. In 2024-2025, we made sigllificant progress in strengthening the suslainabilily and performance of our building. Building on earlier relrofil phases, we have continued to enhance insulation, venlilalion and energy efficienY throughoul the centre. The mechanical ventilation wilh heat recovery systems have helped us maintain improved air quality and achieve more efficient use of heal, while also reducing operating costs. By monitoring data within the building, we can record real-time temperature data across offices and community spaces, allowing us to identify inefficienci8s, verify performance and ensure the building continues to (Iperale at its highest pot8ntial. This data gathering has helped guide the nexr phase of our retrofit work. We are now preparing the next phase of improvements, including plans to install an addi- tional 120 solar panels to significantly increase our renewable energy generation. We have also identified a number of radiators that we negd lo upgrade to high-efficiency radiators designed for low-temperature healing, further reducing our carbon footprint and itnproving comfort for all building users, These developments form an important parl of our lollg-term decarbonisalion strategy and reinfor Caxton House's role as a leader in communily-led suslainabilily within Islinglon. Financially. Caxton House continues to benefit from a stable and diversified income base. Our model combines external grants, fundraising, community partnerships arbd revenue from room and office hire, helping us maintain strong financial health and resilience. The core grant from Islington Council r8mains an essential foundation, supporting our opera- tional capacity and enabling us lo continue delivering high-impact services. This balanced approach prolects us again8t fluctuations in any one income source and ensure that w remain focusÉ,d on meeting the needs of our community, particularly during a period in whicF, residents continue to face significant social and economic pressures.
CAXTON HOUSE SETTLEMENT CHAIR'S STATEMENT (continued} FOR THE YEAR ENDED 31 MARCH 2025 We remain deeply grateful to all our funders, whose support during 2025 enabled us to sustasn essential services. Their support has allowed us lo increase our reach, improve our facilities and continue developing programmes that make a tangible difference to residents, lives. We also extend our heartfelt thanks to our volunteers, who contribute invaluable time, energy and expertise and to our partner organisalions across Islington's neork of Hubs and centres, wilh particular thanks to Octopus Community Network. Through close collab- oration, shared learning and coordinated action. we have strengthened our collective ability to support local people and respond to emerging challenges. My thanks, as always, go to Paul Furze, Sue Collins and the entire staff team for their ded- ication, professionalism and tireless commitment lo Caxton House. l also extend my appre- cialion to all those who deliver projects here, as well as to the Management Committee for their guidance and support. We ale grateful to our holding trustees, Jeremy Corbyn MP, Jacqueline Williams and CIIT Michelline Safi-Ngongo, for Iheir continued involvement and to my fellow Ward Councillors for their ongoing support of our work. Finally, my thanks go to our independent examiner. Kate Kendall. We have worked with her for a number of years through her colleague, Jeremy Tyrrell, and look forward to having her continued support and guidance. V• 6PrtQU Marian Spall Chair of the Management Commiltee Date 20 January 2026
CAXTON HOUSE SETTLEMENT TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 Th8 trustees present their annual report and financial slalements for the year ended 31 March 2025. Ob-ectives and activitles a. Policles and objectives The objects of the Charity are to provide social amenities for tho community in the London Borough of Islinglon. Caxton House Settleinenl is a well-established community centre that focuses on a range of Tegeneralion, 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 seNices which would otheNiise be too costly or dif- ficult for Ioc81 people to obtain. 2. Generating self-developmenl and education opportunities. 3. Organising social groups, advice surgeries and support groups. 4. Collaborating and networking Wlth individuals, the local authority, voluntary organi- sations and other community projects, A¢hievem8nts and erformance . Maln achievements of the charity Caxton House is a long*sl8blished multi-p(Jrpose Community C8nlre that provides a wide range of diverse, innovative, highly responsive and communily led seTvices and activities to the local neighbourhood. Our primary focus is to lake a leading role in the empowerment of deprived neighbourhoods and communities, to bring resources and promote cohesion. Our commitment to multiple grass roots sewice5 is assessed and inflijenced by the unique needs of our diverse com- munities and the local neighbourhood. WE, have a proven track record in delivering an inno- valive programme of seTvices and activities aimed at preventing and improving a wide range of complex local issues including health irbequalities, employability, well-being and access lo high quality advice.
CAXTON HOUSE SETTLEMENT TRUSTI=ES REPORT {continued} FOR THE YEAR ENDED 31 MARC14 2025 We have initiated a wide range of partnerships lo broadp.n the interagency setvice delivery from our centre and avoid duplicalion to ensure our local communities have access to Ihe widest possible range of services and activities helping to lackle key issues in the neigh- bourhood. We place local residenlp al the ntre of provision driven by idenlified local needs, and through a variety of monitoring, consultation and feedback, are able to ensure resident engagement in th8 design of all our services and activities. In the past year. Caxton House has continued to strengthen the growth and development of our centre. We continue to be established as a strategic focal point for the local neigh- bourhood and to maximize Qui range of services and activities by conlirbuing to bring in complementary organizations that have enabled us to continue to diversify the service offer from our centre, consolidating us as Strategic and practical neighbourhood partner and opening up opportunities for more diveise funding efforts. Among our achievements are.. Strenglheriing of local democracy ond resident engagement through the Hillrise Ward Partnership We continue to be considered an example of Best Practice with regard to Commu- nity Engagement and the effective use of space within the cenlre. We have conlinued to work in partnership with Hillside Clubhouse, providing volun- teering and training opportunities for adulls with mental health issues. We have Continued lo develop, manage and deliver a range of health and well-being projects which have addressed social isolation. We have expanded the opportunity for access lo good quality health activities which are free or low cost, helping to tackle health inequalities, improve physical fitness and improve menlal health and welpbeing. We continue lo work on thematic partnerships with additional collaboratiorbs that bring in new resources, skills and join up seNices locally We continue in our role as the Locally Trusted Organisation for a long-term resident- led inilialive. We have continued with our gardenir)g and food growing projeGls, with additional outdoor Iherapeulic crafts added to our delivery programme. We have continued to work with Good Gym who Slipporl our centre with gardening and grounds maintenance. We have restarted our corporate volunteering programme, which has supported the centre with refurbishment and upkeep of our external areas and garden.
CAXTON HOUSE SE'fTLEMENT TRUSTLES REPORT Icontinuedl FOR THE YEAR ENDED 31 MARCH 2025 We have continued the work to decarbonising and retrofitting our building. Following on from our previous decarbonization and retrofit work, that included replacing ex- ternal windows and skylights with energy efficient triple glazed ones, draft proofing doors, and installing an air source heal pump and mechanical ventilation with heat recovery units, we are now starting work on the next phase of this work to include an additional 120 solar panels and optimizing our air source heat putnp which will support significant additional carbon and financial savings Our decarbonizalion project has positioned us as a recognised leader in community- led decarbonisation. We are now regularly approached by organisalions keen to learn from our experien, and we host workshops, tours and Q&A sessions for community energy groups. funders and policymakers. Recent visitors have included representatives from Community Energy London, Charity 8ank, Social Investrnenl Business, Big Issue Invest. Power to Change, DCMS {Departmont for Digital, Cul- ture, Media & Sporll, DESNZ {Dep2rtment for Energy Security & Nel Zero), Reso- nance. Access Foundation, Better Society Capital and Locality. These visits foster knowledge exchange and encourage replicalion of our model elsewhere. This programme also supports education and youth engagemenl, and we have hosted retrofit woikshops for young people beginning apprenticeships in the green indLJslrie5 in partnership with Repowering and KLH Sustainability Our website and sooial media continue to be an important way of communicating with resi- dents. Our You Tube channel has step-by-step guides to a variety of crafts and cooking sessions and these continue lo be well received with one video reaching in excess of 38,000 views. We have a range of VVhalsApp groups for a variety of activities and these continue lo be 8 popular way of people keeping in touch and sharing stories and pictures. We continue lo offer a range of support we provide to smaller local groups, this includes assisting with financial managemenl, provision of volunteers. marketing and publicity, admin and fundraising. We have also provided discounted and free hire space to a range of local groups and organisations. Through the charily In Kind Direct we receive and distribute free goods and equipment lo other groups and organisations. This has enabled Caxton House and the groups we support to make significant budget savings on core costs which can then be redirected into additional projects and services for local communities. We carry out regular monitoring and feedback sessions wilh beneficiaries which clearly demonstrate the positive iinpaGt our projects and activities have with reliards to iinproved fitness 2nd mobility, weight loss, increased sense of wellbeing and improved self- confidence. These surveys provide an opportunity for local residents lo inform the design of additional services and activities.
CAXTON HOUSE SETTLEMENT TRUSTEES REPORT {¢ontinued) FOR THE YEAR ENDED 31 MARCH 2025 b. Fundraising activities and income generatlon We aim to provide a secure and sustainable funding base for Caxton House's strategic development plans. The strategy aims to integrate fundraising ar,d resource mobilisation as part of Caxton House's slralegic priorities. Our objectives.. To embed fundraising as a key function within Caxton House and develop expertise and skills in fLJndraising within the Management Committee, staff and volunteers. To seek out and secure wider collaboiations with mutually beneficial Third Sector organisalions and Islington Council, to join-up and grow the impact of seNices and activities locally. To strengthen the fundraising collaboration between Caxton House, Islingtor) Coun- cil and other mombers of the voluntary s8ctor to develop partnership programmes of local activities and services. To collaborate on joinl-fundraising projects thal are community-led, exciting, innova- tive and are underpinned by quality. Financial revlew . Going concern After making appropriate enquiries within the charity, the Truslees have a reasonable ex- peclation that the charity has adequate resources to continue in operational existenGe for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial slalements. Further details regarding the adoption of the going con- cern basis can be found in the accounting policies. In the year to 31 March 2025, Ihere was an overall deficit of £4,703 (2024.. surplus of £38,0471- The Trustees consider this a satisfactory resull. 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. Our Management Committee will continue lo meet regularly to review our financial position and where necessary, make prudent adjustments to expenditure and reduce costs
CAXTON HOUSE SETTLEMENT TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 MARCH 2025 b. Reserves policy To avoid closure if funding difficulties were lo 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 monlhs, or should the centre face closure, appro. priate reserves will be in place lo 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 lo secure new funding. That the organisation is able to operate, running activities and services for the com- munily for a set period of time of not less Ihan 3 months. For this purpose. the charity aims to hold unrestricted reserves of no less than 3 months, these unrestricted re- serves exclude balances relating to fixed assets, To meet unexpected costs e.g. urgent repairs and staffing costs. c. Financial risk management objectives and policies Caxton House continues to operate financial managemenl policies on the basis of fund ac- cour)ting, as described in section 1 of Ihe notes to the financial statements. d, Princtpal funding The main funder of the charity during the year to 31 March 2025 was Cadent Gas, contrib- uting £46,200 (2024-. London Borough of Islington, contributing £105,257). In total, 23 /u 12024.. 54'/0) of the charity's income was received from funders Ihrough grants and dona- tions. Structure overnance and mana ement a. Constitution Caxton House Settlement is a registered charity, number 210270, and is constituted under a Trust deed dated 27 eptember 1974. b. Methods of appolnthnent 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 Tns51 deed.
CAXTON HOUSE SETTLEMENT TRUSTEES REPORT {continuedl FOR THE YEAII ENDED 31 MARCH 2025 Organisational structure and decision-making policles The management of the charity is the responsibility of the Trustees who are elected and co- opted under th&. 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. M. Spall- Chair and Hon. Secretary M. Campbell -Vice-Chair and Hon, Treasurer M. Facey H. Baron S. Daley L Pittis S. Salim The Managemènt Committee met four times during Ihe year (including virtually). d. Financial risk management The Trustees have assessed the major risks to which the charity is exposed, in particular those related to Ihe operations and finances of the charity and are satlsfled 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 ac- counting, as described in section 1 of the note5 to the financial slalemenls. Plans for future eriods We will continue to promote Caxton House as a multi-purpose community ntre and Neigh- bourhood Partner within the local community. A key aim is lo continue to 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 communily centre as a vibrant and effective community anchor Enabling us and complementary partners to collaborale effectively Sharing and encouraging best practice through information sharing Ensuring we continue to best serve our communities 10
CAXTON HOUSE SETTLEMENT TRUSTEES REPORT (continued) FOR THE YEAR ENDED 31 IWARCH 2025 Championing community action on local fnrums and with key decisigD making bod- ies Continue to work towards becoming sustainable and resourceful by seeking out new sources of funding to .."timulate and sustain collaborative working Piloting new forms of incoma generation and resource sharing To do this we have set ourselves a number of Key Strategic Objectives: To enhance our Quality and Sustainability Frameworks by identifying best practi with a view to continuing to develop a strong, enterprising and listening multi-pur- pose community celllfe. To work collaboratively and in partnership with others to develop, nurture and main- tain highly effective ward partnerships, in support of Islinglon Council's vision for localism, cohesive communities and fairness. To develop and deliver a portfolio of innovative, highly responsive and ¢ommuriily led projects, activities and commurlily events that respond lo Ihe aulhentic 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 sup- port, To develop an effective community support r)etwork that will mobilize isolated and disengaged communities and engage new user groups through widening participa- tion inilialives and growing the number of diverse and fun recrealional activities within Caxton House. To foster opportunities to explore volunteering and social enterprise solutions to lo- cal 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 Lrtilisation and embrace corporate social responsibility. To significantly increase the connectivity of Caxton House with complemenlaiy Third Sector Organisations, Islington Council and private business (where appropriatel to maximise potential for developing new services and activities and attract 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 continLJe lo be embedded across all our services to provide a foundation for a sustainable funding base helping to ensure thal our mission, vision and strategic development plans are mel.
C.'AXTON HOUSE SETTLEMENT TRUSTEES REPORT l¢ontinuedl FOR THE YEAR ENDED 31 MARCH 2025 Continue our commitment to supporling London Borough of Islinglon in its aim to tackle the climate emergency by achieving a net zero carbortr Islington by 2030 through our decarbonisation work Our vision and definition of success is lo see Caxton House continue to develop as a focal point 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 conlillue lo offer a wide range of high quality facilities, activities and services that are resi- denl nt[ed and accessible to all. Funds held as Custodian Caxton House settment holds funds on behalf of Ellhorne Pride, a Big Local resident-led initiative in Islington. Details are included in Note 16 to thè accounts. This reporl was approved by th8 trustees and signed on its behalf by.. M Campbell Trustee Date .' 20 January 2026 12
CAXTON HOUSE SETTLEMENT INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examinerfs Report to the Trustees of Caxton House Settlement {'the charity,) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2025. 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 20111'lhe 2011 Acy). I report in respect Df my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 14515}{b) of the 2011 Act. Independent Examlner's Statement sin the charity's gross income exceeded f250.000 yourexaminer must a member ofa body listed in section 145 of the 2011 Act. I confirm Ihat l am qualified to undertake Ihe examination because l am a member of the Association of Chartered Certified Accountants, 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 applica- ble lo charities preparing their accounts in accordance with the Financial Reporting Stand- ard applicable in the UK and RepubliG of Ireland IFRS 102} in preference to the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been withdrawn. l understand that this has been done in order for the accounts lo provide a true and fair view in accordance with the Generally Accepted Accountlng Praclice effective for reporting peri- ods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have come to my altention in connection with Ihe examination glving me cause to believe Ihal in any material respect.. 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 wilh ose records., or 3. the accounts do not comply with the applicable requirements concerning the form alld conlenl of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any iequirement that the accounts give a 'lrue and fail view which Is not a matter considered as part of an independent examination. 13
CAXTON HOUSE SETTLEW ENT INDEPENDENT EXAMINER'S REPORT {continued} FOR THE YEAR ENDED 31 MARCH 2025 I have no concerns and have come across no other matters in connection with Ihe exami- nation to which attention should be drawn in this report in order lo enable a proper under- standir7g of the accounts lo be reached. This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to state to them in an Independent examine¢s report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility to anyone other than Ihe charity and the char- ity's Trustees as a body, for my work 01 for this report. Name.. Kathrin Kendall Date.. 20 January 2026 14
CAXTON HOUSE SETTLEMENT STATEMENT OF FINANCIAL ACTIVITIES FOR T14E YEAR ENDED 31 MARCH 2025 Total Funds 2025 Total Funds 2024 Notes Unrestrlcted Restricted funds funds Income and endowments from: Donations and lega- cies 1,570 83,767 85,337 216,321 Charitable activities 283,816 283,816 179.398 Other 4,992 4.992 4.845 Total 290,378 83,767 374,145 400,564 Expenditure on: Charitable activities 286,788 92,060 378,848 362,517 Total 286,788 92,060 378.848 362,517 Net in- comellexpendlturel 3,590 18,2931 {4.7031 38,047 Net movement in funds 3,590 (8,2931 {4,7031 38.047 Reconclliation of funds: Total funds broughl fonmaid 265,584 168,593 434,177 396,130 Total funds carrled forward 269,174 160,300 429,474 434,177 The Stalemenl of Financial Activities includes all gaills and losses recognised in the year. 15
CAXTON HOUSE SETTLEMENT BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025 Unrestrlcted funds Restricted Total Funds Total Funds funds 2025 2024 Notes Fixed assets Tangible assets 96.376 160,300 256,676 265,697 Total flxed as- sets 96,376 160,300 256,676 265,697 Current assets Debtors 12,823 12,823 9,705 Cash al bank and in hand 10 186,631 186,631 183,401 Total current as- sets 199.454 199,454 193,106 Creditors.. amounts falling due wilhin one year 26,656 26,656 24,626 Net current as- setsl(liabilitles) 172,798 172.798 168,480 Total net assets 269,174 160,300 429,474 434,177 Funds of the Charity Unrestricted funds 12 269,174 269,174 265,584 Restricted funds 12 160,300 160,300 168,593 Total funds 269,174 160,300 429.474 434,177 The financial slatements were approved by the trustees on 20 January 2026 and signed on its behalf by- M Campbell (Trusteel
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARC14 2025 1. Accountlng Policies The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of.the accounts are as follows. 1.1 Basis of preparation These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and Investment properties at valuation. These accounts have been prepared in accordance with "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (effective 1 January 2019) - (Charities SORP {FRS 102)), the Financial Reporting Slandard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. The financial slatements have been prepared to give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the ex- tent required to provide a 'true and fairf view. This departure has involved following the Charities SORP {FRS 102) published ill 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 recognized at historical cost or transaction value unless otherwise slated in the relevant accounting policy. These accounts are presented In pounds sterling and rounded lo the nearest pound. 1.2 Going concern The Trustees have prepared financial projection8, taking into consideration the current economic conditions and have, at the time of approving these accounts, a reasonable expectalion that the charity has adequate resources to continue in operational exist- ence for the foreseeable future. Thus they continue lo adopt the going concern basis of accounting in preparing the accounts. 1.3 Income from donations or grants Income from donations and grants is recognised when the charity is entitled lo th6 funds. the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. 17
CAXT(IN HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR T14E YEAR ENDED 31 MARCH 2025 Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes, bul not expended cluring Ihe period, is shown in the relevant funds on the Balance Sheet. Where income is received in advance of enlttlemènt, its recognition is deferred and included in creditors as deferred income. Where enlillement occurs before income is received, the income is accrued. 1.4 Income from charitable activities Income from charitable activities is recognised over the period to which the income relates. Rent is recognised over the period to which it relates. Any amounts relating lo future periods are deferred. 1.5 Investment Income Interest on funds held on d8posIt 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 irkstitution with whom the funds are deposited. 1.6 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third party, il is probable Ihat a transfer of economic benefits will be required in selllement 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 ¢osts attributable lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not allributable 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 spenl, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable aclivities is incurred on directly undertal",ing the activities which further the charity's objectives, as well as any associated supporl cost8. All expenditure is inclusive of irrecoverable VAT. 18
CAXTON HOUSE SE;.TTLEMENT NOTES TO THE FINANCIAL STAI'EMENTS Icontlnuedl FOR THE YEAR ENDED 31 MARCH 2025 1.7 Penslons The charge lo the Stalement of Financial Activities Is the amount of conlributions pay- able lo pension schemes in respect of the accounting yeai. These contributions are invested separalely from the charity's assets. 1.8 Taxation The charity is considered to pass the tests set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable enlity fDr UK tax purposes. Accordingly, the charity is potenlially exempl from laxalion 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 01 gains are applied exclusively to charitable purposes. 1.9 Creditors Liabllities 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 settlemerkl can be eslimaled reliably. Liabilities are recognised at the amount that the charity anlicipales it will pay lo settle the debt or the amount it has received as advanced payments for the services it must provide. Provisions are measured al the best estimate of the amounts required to sellle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of thos8 amounts, discoullled al the pre-tax discount rate that reflects the risks specific lo the liability. The unwinding of the discount is recog- nised in the Statement of Financial Activities as a finance cost. 1.10 Financlal 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 trans- action value and subsequently measured at their selllement Value with the exception of bank loans which are subsequently measured al amortised cost using the effective inlerf.,st method. 1.11 Fund accounting Unrestricted funds are those 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. 19
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS Icoiltinuedl FOR THE YEAR ENDED 31 MARCH 2025 Restricted funds cire funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity foi particular purposes. Designated funds comprise unrestricted funds that have been set aside by the Trus- tees for particular purposes, The aim and use of eaoh designated fund is set out in the notes lo the financial slatemenls. 1.12 Critical a¢¢ounting estimates and judgements In the applicalion of the charity's accounting policies, the Trustees are reqLJired lo ake judgements, eslimales and assumptions about the carrying amount of assets and liabililies that are not readily apparent from other sources. The estimates and as- socialed assumptions are based on historical experienGe and other factors that are considered to be relevant. Actual results may differ from these estimates. The eslimales and underlying assumptions are reviewed on an ongoing basis. Revi- sions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. There are no estimates and assumptlons which have a signrficant risk of causing a material adjustment to the carrying amount of assets and liabilllies. 1.13 Tangible flxed assets Tangible fixed assets costing £200 or more are capilalised and recognised when fu- ture economic benefits are probable and the cost or the value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost, After recognition, under the cost model, tangible fixed assels are measured al cost less accumulated depreciation and any accumulaled impairment losses. All costs incurred to bring a tangible fixed asset into its inter)ded working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over Iheir estimated useful lives on the following ba515'. Long-term leaseholil property Plant and machinery Fixtures and fittings 20/0 per annum straight line or 33 years 10 % per annum straight line or 20 years 25Q/o per annum slraight line 20
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAF. ENDED 31 MARCH 2025 Included in long term leasehold property are solar panels whieh were installed in 2009. It was then estimated that the useful life would be 50 years. The useful life was ie-assessed in 2021122 and the Iruslees have come to the conclusion that the total estimated lifuJ is likely to be in the region of 30-35 years. they have therefore assumed a useful life of 33 years. The remaining depreciation has Iherefore been adjusted accordingly, lo reflect the shorter Ihan originally anticipated lifespan. 1.14 Debtors Trade and other debtors are recognised al the settlement amount after any trade dis- count offered. Prepayments are valued at the amount prepaid net of any trade dis- counts due. 4.15 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short malurity of three monlhs or less from the date of acquisition or opening of the deposit or similar account. 1.16 Cash Flow Exemption These accounts do not include a cash flow stalement because the charily, as a small reporting entity, is exempl from the requirement lo produce such a statement. 2. Income from Donations and Legacies Unrestricted funds Restricted funds Total funds 2025 Total funds 2024 Donation Grants 1,570 500 83,267 83,767 2,070 83,267 85,337 78,968 137,353 216,321 Total 1.570 In 2024, all income from donations and gifts represented unrestricted income and of the grants received, £86,443 represented restricted gTanls. 21
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS {contlnuedl FOR THE YEAR ENDED 31 IAARCH 2025 3. Income from Charitable Activlties Unrestricted funds Total funds 2025 Total funds 2024 Provision of ser- vices 283,816 283,816 179,398 Total 283,816 283,816 179.398 In 2024, all income from charitable activities was unreslricled. 4. Other Income Unrestricted funds Total funds 2025 Total funds 2024 other 4,992 4,992 4,992 4,992 4,845 4,845 Total In 2024, all other income was unrestricted. 22
CIIXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDED 31 MARCH 2025 6. Expenditure on Charitable Activities Unrestrlcted funds Analysis Restricted funds Total funds 2025 Total funds 2024 Wages and salaries Freelancers & Subcontractors Light & Heat Sundry Ex- penses Staff welfare & training Volunteer & Travel Projects 128,102 55,444 183,546 173.348 17,308 3,306 20,614 17.335 38.772 1,223 39,995 31,425 3,533 5,362 8,895 4,135 557 18 575 1,307 1,177 1,177 714 17,681 14,723 32,404 37,035 Total 207.130 80,076 287,206 266.299 Support Cosls 79,658 11,984 91,642 97.218 286,788 92,060 378,848 362,617 Soclal Amenities Management & Admin 2025 Total 2025 2025 2025 Direct costs Support Costs 272,426 88,882 14,781 760 287,206 91,642 2,000 Total 361,308 15,541 2,000 378.848 Social Amenities 2024 Management & Admin 2024 Total 2024 2024 Direct Support Costs Total 256,155 93,555 362.517 9,144 722 285,299 97,218 362.517 2,940 2,940 9.866 23
CAXTON HOUiiE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS {continuedl FOR THE YEAII ENDED 31 MARCH 2025 6. Support Costs Total funds 2025 Total funds 2024 Analysis Support Costs Depreciation Rent & Rates Telephone stationery Cleaning, Repairs & Maintenance Irbsurance Subscriptions Photocopyirlg Sundry Expènses Computer 22.624 1,984 5,381 948 40,526 13,479 1,261 690 93 1,627 22,937 1,852 3.294 704 45,904 13,669 926 594 1,500 1,086 Governance Costs Independent examiners fees Accounlanls fees 2,000 1,029 91,642 4,752 97,218 7. EThployee's Emoluments 7.1 Staff Costs This year Last year Salaries and wages Social security costs Pension costs (defined contribulion schetnel Ot.'iei employee benefits Total staff costs 169,578 15,880 3118 155,202 15.019 3,127 188,546 .173,348 No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000. 24
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS {continued} FOR THE YEAR ENDED 31 IthARCH 2025 This year Last year Key management remuneration (Chief Executive, Finance & offi Manager, Trustees) 105,562 108,344 7.2 Average head count In the year This year Last year Social Amenities Governance Total 8. Tanglble Flxed Assets other Land & Plant & Machln- Buildings ery Fixtures & Fit- tings 8.1 Cost or valuatlon At 01 April 2024 523,320 249,943 6,596 Additions 13.604 At 31 March 2025 523,320 263,547 6,596 8.2 Depreciation and Impalrments At 01 April 2024 468.284 40,390 5.489 Charge for the year 11,057 11.111 456 At 31 March 202.- 479,341 51,501 5,945 8.3 Net book value At 01 April 2024 55,036 209,553 1,107 At 31 March 2025 43,979 212,046 651 25
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THI- YEAR ENDED 31 MARCH 2025 9. Debtors: Amounts falling due after one year Total funds 2025 Total funds 2024 Trade debtors Prepayments & accrued income Total 6,139 6,684 12,823 3,007 6.698 9,705 10. Cash at bank and In hand Total funds 2025 Total funds 2024 Cash al bank and in hand 186,631 186,631 183,401 183,401 Total 11. Credltors: Amounts falling due within one year Totsl funds 2025 Total funds 2024 Accruals and deferred income Taxation and social security Totsl 23.822 2.834 26,656 23,245 1,381 24.626 26
CAXTON HOUSE SEThLEMENT NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2025 12. Charity funds Details of material funds held and movements during the CURRENT reporting periDd At 1 At31 April Income Expenditure Transfers March 2024 2025 Fund names Unrestrlcted funds General Fund Cyclical Maintenance Fund Restricted income funds Cripplegate Community Fund LB of Islinglon Creative Communities Cadent Gas LB of Islington Stay & Play The Co-operative Com- munily Fund LB of Islington Local Initi- atives Fund Warm Rooms Solar Panels Funding for Kitchen Air Source Heat Pump Energy Redress 245,584 290,378 268,487 {20.000} 247,475 18,301 20,000 21.699 20.000 500 500 800 800 46,200 46,200 10,324 10,324 1,785 1,785 6.000 6,000 5,000 28,023 30,0(K) 110,570 1,471 2,000 4,822 13,158 26,552 28,000 105,748 13,158 Total 434,177 374,145 378.848 429.474 Restrlcted Funds Cripplegate Community Fund This funding supported a Street Art Festival organised by a local resident, supported by Caxton House. LB of Islington Creative Communities This funding supported our'M2rch Makes, creative campaign, teaching a different craft each week throughoLJt the month of March. 27
CAXTON HOUSE SETTLEMENT NOTES I O THE FINANCIAL STATEMENTS {¢ontlnued} FOR THE YEAR ENDED 31 MARCH 2025 Cadent Gas This funding SLAPPOrted a two-yeai programme of energy saving advice, quizzes and workshops, Carbon Monoxide advice and distributior) of alarms, slow cooker cooking classes and distribution of slow cuokers and community events and stalls, supporting residents with a wide range of energy saving information, advice, referrals and sup- port. LB of Islington Stay & Play Funding from the London Borough of Islinglon Early Years Btjdget for our under 5's Stay & Play sessions that run twice a week. The Co-operative Community Fund This funding supported our food growing gardening sessions and family cooking clas- ses. LB of Islington Local Inltiatives Fund This funding is lor tutor costs to run a weekly gentle exercise class for older residents or those new to exercise. ID 2023124 it also included support in respect of the costs asthocialed with the three Hillrise Winter Festiva15 that run in December each year al three separate locations (Winter Songs & Carols with Christmas Quiz. Traditional Chrislwas Fair with Santa. Christmas Craty Make & Take}. Warm Rooms Funding to support part of the costs for the work being carried out aspart of our warm SP2ces initiative. supporting residents across the winter monlhs with access to warm spaces, equipment and food. This was supported by several grant providers in the past, bul was solely sponsored by the LB of Islinglon in 2024125. Energy Redress This funding supported our energy advice services for vulnerable residents in Islington through weekly 1..1 sessions, giving advice on ways lo save both on energy consump- tion and costs through behaviour changes, energy saving measures, alternative tariffs and accessing available discounts and services. The funding also allowed us to dis- tribute small energy saving measures and raise awareness of additional support schemes and referral opporlunilies. The Postcode Soclety Trust This funding was for our Lifestyle Tuesdays programmE which includes some dance, exercise and crafts, once a week, across a 6-hour perio.J. Awards for All This fund represents funding from Awards for All for health and wellbeing sessions. Blffa Award This represented funds due from Biffa for the Air Source Hèat Pump which had not been capilalised yet. 28
CAXTOTrI HOUSE SETTLEMENT NOTES TO THE FINAIqCIAL STATEMENTS Icontlnued) FOR THL YEAR ENDED 31 MAFICH 2025 Solar Panels. Kitchen, Air Source Heat Pump & Ventilation System and Boiler These funds represent fixed assets PLJrchased with restricted grants or given lo the charity with a restriction. The fund for the Air Source Heal Pump & Ventilation Syste includes a contribution of £42.500 from the London Borough of Islinglon. nated Funds 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 Iruslees transfer amounts into the Cyclical Mainta- nance Fund on an annual basis, depending on the anticipated expenditure in the fol- lowing year. Details of material funds held and movements during the PREVIOUS reporting period At 1 April At 31 March 2024 2025 Fund names Income Expendlture Transfers Unrestricted funds General Fund Cyclical Maintenan Fund Re5trlcted Income funds LB of Islington Stay & Play Awards for All The Co-operative Community Fund LB of Islington Local Initiatives Fund Biffa Award The Postcode Society Warim Rooms Solar Panels Funding for Kitchen Air Source Heal Pump Power Up Notth Lon- don King's Coronation Energy Redress 231,145 314,121 285,591 134,091) 245,584 7,440 21,531 34,091 20,000 9,823 9,823 10,000 10,000 1,151 5,900 5,900 7,500 18.750 5,000 29.494 32,000 64,801 (7,500) 18,750 14,283 1,471 2,000 4,231 9,283 28,023 30.000 110,570 42,500 7,50( 1.874 1,874 500 5.412 500 5,412 Total 396,130 400,564 362.517 434,177 29
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STATE.MENTS Icontinuedl FOFi THE YEAR END&D 31 MARCH 2025 13. Transactlons with trustees and related parties 13.1 Trustee remuneration and benefits During the current and preceding yeai, no trustees received any remuneration or other benefits for their seTvice as truslees. 13.2 Trustees, expenses During the current and preceding year, no trustees, expenses have been incurred. 13.3 Transactionls) with related partle$ The charity's constitution requires that the charity must have user group representation on its Management Committee. The following tiansactions took pla with user groups (in their cap2Clty as users of the centrel.. Name of the trustee or re- lated party Descrlptlon of the trans- actionls) Balance Balance Amount at 31 Amount at31 2025 March 2024 March 2025 2024 Relatlonshlp to Charity Exp8rience Ar- chery (via Le- ander Pittis) Trustee- Payment to User Group the charily Repre- for the use of senlalive the centre 17,111 2,001 16,555 London Capital Credit Union (via H Baron) Truslee- Payment to User Group the charity Repre- for the use of senlalive the centre 47,930 47,109 Kurdish & Middle Eastern Women's Organisalion {via S Saliml Trustee- Payment to User Group the charity Repre- for the use of sentative the centre 28,797 20,500 30
CAXTON HOUSE SETTLEMENT NOTES TO THE FINANCIAL STAT&MENTS (continued} FOR THE YEAR ENOED 31 MARCH 2025 14. Financial Performance of the Charity Unrestricted Restricted Total Funds Funds Funds31 31 March 2025 31 March 2025 March 2025 Income Expenditure before depreciation 290,378 {272,4571 83,767 374.145 {83,7671 (356,224) 17.921 17,921 Depreciation adjustment {14.331) (8,2931 (22,936} Total 3,590 18,2931 14,703) The trustees regard the result before depreciation of a surplus of £17,921 {2024', £60,984) as key lo understanding the underlying r8sulls of the charity, 16. Pension Commitments The charity contributes to individual personal pension. Contributions paid by the charity during the year amounted to £3.12712024.' £3,127). 16. Funds Held as a Custodian Caxton House Settlement held a balance of £84 {2024.' £12,029) at the year end on behalf of Elthorne Pride, a Big Lo¢al resident-led initiative in Islington. The balance is not show in the financial slatemen.s of Caxton House.