| Trustees | F.Gillman | ||||
|---|---|---|---|---|---|
| P.John | |||||
| D.Brasier | |||||
| D.Hams | |||||
| C.Benson | |||||
| J.Scorer | |||||
| A.Bates | |||||
| C.Parsons | |||||
| L.Green | |||||
| M. Cheeseman | |||||
| K.Brown | |||||
| N. Ali | |||||
| Charity | number | 211763 | |||
| Principal | address | 6-8 Druid Street | |||
| Tooley Street | |||||
| London | |||||
| SEI 2EU | |||||
| Auditor | HB Accountants | ||||
| Plumpton House |
|||||
| Plumpton Road |
|||||
| Hoddesdon | |||||
| Hertfordshire | |||||
| ENI I OLB | |||||
| Bankers | National Westminster |
Bank | |||
| 201Tooley | Street | ||||
| London | |||||
| SEI 2ZH | |||||
| Investment | advisors | Investec Wealth & Investment | |||
| 2 Gresham | Street | ||||
| London | |||||
| EC2V7QP |
| Page | ||
|---|---|---|
| Trustees' report |
1-3 | |
| Statement oftrustees' | responsibilities | |
| Independent auditor's |
report | 5-7 |
| Statement offinancial | activities | |
| Balance sheet | ||
| Notes to the financial | statements | 10-17 |
| Unrestricted | Unrestricted | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021 | 2020 | ||||
| Nates | |||||
| Igggine from: | |||||
| Donations | 16,000 | ||||
| Investments | 441,874 | 571,722 | |||
| Totalincome | 441,874 | 587,722 | |||
| d~Eddh | i | ||||
| I' d |
|||||
| Investment management |
62,195 | 64,308 | |||
| Charitable activities |
|||||
| Gifts and relief | for those in need | 391,818 | 532,246 | ||
| Educationatsupport | 29,000 | 72,934 | |||
| Total charitable | expenditure | 420,818 | 605,180 | ||
| Total resources | expended | 483,013 | 669,488 | ||
| Net gains/(lasses) | on investments | 2,202,758 | (1,879,346) | ||
| Net movement | in funds | 2,161,619 | (1,961,112) | ||
| Fund balances at | 1April 2020 | 14,739,993 | 16,701,105 | ||
| Fund balances | at31March 2021 | 16,901,612 | 14,739,993 |
| 2021 | 2020 | ||||||
|---|---|---|---|---|---|---|---|
| Notes | |||||||
| Fixed assets | |||||||
| Tangible assets | 10 | 477,292 | 481,191 | ||||
| Investments | 11 | 16,051,519 | 13,909,179 | ||||
| 16,528,811 | 14,390,370 | ||||||
| Current assets | |||||||
| Debtors | 12 | 45,207 | 135,849 | ||||
| Cash at bank | and in | hand | 353,451 | 238,581 | |||
| 398,658 | 374,430 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | 13 | (25,857) | (24,807) | ||||
| Net current assets | 372,801 | 349,623 | |||||
| Total assets | less current liabilities | 16,901,612 | 14,739,993 | ||||
| Income funds | |||||||
| Unrestricted | funds | 16,901,612 | 14,739,993 | ||||
| 16,901,612 | 14,739,993 |
| Accounting policies (cantinued) |
|||||||
|---|---|---|---|---|---|---|---|
| 1.6 | Tangible fixed assets | ||||||
| Tangible fixed assets are initially measured at cost and subsequently measured at cost or |
valuation, net |
ofdepreciation | |||||
| and any impairment losses. |
|||||||
| Depreciation is recognised so as to write offthe cost or valuation ofassets |
less their residual values over their |
useful | |||||
| lives on the following bases: | |||||||
| Freehold land and buildings 0%straight line |
|||||||
| Freehold improvements 10%straight line |
|||||||
| Fixtures, fittings k equipment 25%straight line |
|||||||
| No depreciation has been provided on the freehold property as the trustees |
carried out | an impairment | review | during | |||
| the year and no provision was found to be necessary. |
|||||||
| The gain or loss arising on the disposal ofan asset is determined as the difference |
between the sale proceeds and the |
||||||
| carrying value ofthe asset, and is recognised in net income/(expenditure) for the year. |
|||||||
| 1/7 | Fixed asset investments | ||||||
| Fixed asset investments are initially measured at transaction price excluding transaction |
costs, and are subsequently | ||||||
| measured at fair value at each reporting date. Changes in fair vahie are recognised |
in net | income/(expenditure) | for the | ||||
| year. Transaction costs are expensed as incurred. |
|||||||
| 1.8 | Impairment affixed assets |
||||||
| At each reporting end date, the charity reviews the carrying amounts ofits |
tangible assets to determine | whether | there | ||||
| is any indication that those assets have suffered an impairment loss. If any such indication |
exists, the recoverable | ||||||
| amount ofthe asset is estiniated in order to determine the extent ofthe impairment |
loss (ifany). | ||||||
| 1.9 | Cash and cash equivalents | ||||||
| Cash and cash equivalents include cash in hand, deposits held at call with |
banks, | other | short-term liquid investments |
||||
| with original maturities ofthree months or less, and bank overdralts. Bank |
overdratts are shown within borrowings in |
||||||
| current liabilities. | |||||||
| 1.10 | Financial instruments | ||||||
| The charity has elected to apply the provisions of Section 11 'Basic Financial |
Instruments' | and Section 12 | 'Other | ||||
| Financial Instruments Issues' ofFRS 102to all ofits financial instruments. |
|||||||
| Financial instruments are recognised in the charity's balance sheet when the charity becomes party to |
the contractual | ||||||
| provisions ofthe instrument. | |||||||
| Financial assets and liabilities are offset, with the net amounts presented in the financial statements, |
when there is a | ||||||
| legally enforceable right to set offthe recognised amounts and there is an intention |
to settle on | anet basis or to | realise | ||||
| the asset and settle the liability simultaneously. | |||||||
| Basicfinancial assets | |||||||
| Basic financial assets, which include debtors and cash and bank balances, |
are initially | measured at transaction |
price | ||||
| including transaction costs and are subsequently carried at amortised cost |
using | the effective | interest | method | unless | ||
| the arrangement constitutes a financing transaction, where the transaction |
is measured | at the present value |
of the | ||||
| future receipts discounted at a market rate ofinterest. Financial assets classified as receivable |
within one year | are not | |||||
| amottised. |
| Donations | ||||
|---|---|---|---|---|
| Total | Unrestricted | |||
| funds | ||||
| 2021 | 2020 | |||
| g | ||||
| Donations | and | gifis | 16,000 |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2021 | 2020 | ||
| f | |||
| Income | from listed investments | 441,873 | 571,716 |
| Interest | receivable | I | |
| 441,874 | 571,722 |
| Gifts and | Educational | Total | Gifts and | Educational | Total | |||
|---|---|---|---|---|---|---|---|---|
| relief for | support | 2021 | relief for | support | 2020 | |||
| those in need | those in need | |||||||
| 2021 | 2021 | 2020 | 2020 | |||||
| f | f | f | f | |||||
| Staffcosts | 92,156 | 92,156 | 85,379 | 9,487 | 94,866 | |||
| Depreciation | and impairment | 3,899 | 3,899 | 3,509 | 390 | 3,899 | ||
| Holiday costs | 595 | 595 | 147,231 | 26,083 | 173,314 | |||
| 96,650 | 96,650 | 236,119 | 35,960 | 272,079 | ||||
| Grant funding | ofactivities | |||||||
| (see note 6) | 264,025 | 29,000 | 293,025 | 264,863 | 33,500 | 298,363 | ||
| Share ofsupport costs (see | ||||||||
| note 7) | 22,143 | 22,143 | 22,354 | 2,484 | 24,838 | |||
| Share ofgovernance (see note 7) |
costs | 9,000 | 9,000 | 8,910 | 990 | 9,900 | ||
| 391,818 | 29,000 | 420,818 | 532,246 | 72,934 | 605,180 |
| 6 | Grants payable | Grants payable | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Gifts and | Educational | Total | 2020 | |||||||
| relief for | support | |||||||||
| those in need | ||||||||||
| g | 8 | |||||||||
| Grants to institutions: | ||||||||||
| Rotherhithe | Festival | 2,000 | ||||||||
| Age UK | 5,000 | |||||||||
| Bermondsey | Kitchen | 500 | ||||||||
| Schools and | Colleges | 1,500 | 1,500 | 5,000 | ||||||
| Tenants and |
Sheltered | Housing | Units | 6,000 | ||||||
| Social Clubs | 8,200 | |||||||||
| Riverside Parents and | Carers Association | 1,500 | ||||||||
| Create | 3,000 | |||||||||
| Bermondsey | Fit Club | 300 | ||||||||
| Docklands Settlement |
Community | Centre | 2,320 | |||||||
| Bermondsey | Joy Slide | 5,000 | 5,000 | |||||||
| Bermondsey | Fit Club | 1,000 | ||||||||
| Breath ofLife | 500 | |||||||||
| Docklands Settlement |
Community | Centre | 1,000 | |||||||
| 5,000 | 1,500 | 6,500 | 36,320 | |||||||
| Grants to individuals | 259,025 | 27,500 | 286,525 | 262,043 | ||||||
| 264,025 | 29,000 | 293,025 | 298,363 | |||||||
| 7 | Support costs | |||||||||
| Support costs | Governance | 2021 | 2020 | Basis ofallocatioa | ||||||
| costs | ||||||||||
| 8 | ||||||||||
| Office expenses | 22,143 | 22,143 | 24,838 | |||||||
| Audit fees | 4,500 | 4,500 | 4,750 | |||||||
| Accountancy | fees | 4,500 | 4,500 | 5,150 | ||||||
| ' | ||||||||||
| 22,143 | 9,000 | 31,143 | 34,738 | |||||||
| Analysed between |
||||||||||
| Charitable activities |
22,143 | 9,000 | 31,143 | 34,738 |
| 2021 | 2020 | ||
|---|---|---|---|
| Number | Number | ||
| Administration | |||
| Employment | costs | 2021f | 2020 f |
| Wages and salaries | 85,707 | 87,681 | |
| Social security | costs | 4,851 | 5,625 |
| Other pension | costs | 1,598 | 1,560 |
| 92,156 | 94,866 |
| Tangible fix | ed assets | ||||
|---|---|---|---|---|---|
| Freehold land | Freehold | Fixtures, sittings | Total | ||
| ond buildings | improvemeats | &equipment | |||
| f | |||||
| Cost | |||||
| At 1April 2020 | 450,000 | 164,067 | 19,102 | 633,169 | |
| At 31March | 2021 | 450,000 | 164,067 | 19,102 | 633,169 |
| Depreciation | and impairment | ||||
| At 1April 2020 | 132,876 | 19,102 | 151,978 | ||
| Depreciation | charged in the year | 3,899 | 3,899 | ||
| At 31March | 2021 | 136,775 | 19,102 | 155,877 | |
| Carrying amount |
|||||
| At 31March | 2021 | 450,000 | 27,292 | 477,292 | |
| At 31March | 2020 | 450,000 | 31,191 | 481,191 |
| Listed | Cash in | Total | |||
|---|---|---|---|---|---|
| investments | portfolio | ||||
| Cost or valuation | |||||
| At 31March 2021 | 13,482,158 | 427,021 | 13,909,179 | ||
| Additions | 2,351,404 | 2,351,404 | |||
| Valuation changes |
2,202,757 | 2,202,757 | |||
| Cash movement | (66,299) | (66,299) | |||
| Disposals | (2,345,522) | (2,345,522) | |||
| At 31March 2021 | 15,690,797 | 360,722 | 16,051,519 | ||
| Impairment | |||||
| At I April 2019 ttr 31March 2020 | |||||
| Carrying amount |
|||||
| At 31 March 2021 | 15,690,797 | 360,722 | 16,051,519 | ||
| At 31 March 2020 | 13,482,158 | 427,021 | 13,909,179 | ||
| 2021 | 2020 | ||||
| g | |||||
| Investments at fair value comprise: |
|||||
| Fixed interest securities | 2,338,747 | 2,509,543 | |||
| Equities | 10,884,905 | 8,201,570 | |||
| Property funds |
1,403,801 | 1,526,804 | |||
| Alternative investments |
1,063,344 | 794,241 | |||
| Currency cash | 450,000 | ||||
| Portfolio cash | 360,722 | 427,021 | |||
| 16,051,519 | 13,909,179 | ||||
| The historical cost ofthe investments | at the year | end was f.13,213,919(2020:f.13,680,061). | |||
| 12 | Debtors | ||||
| 2021 | 2020 | ||||
| Amounts faBing due within one year: |
g | ||||
| Prepayments and accrued income |
45,207 | 135,849 |
| Creditors: amounts falling due within one year |
||
|---|---|---|
| 2021 | 2020 | |
| g | g | |
| Other creditors | 468 | |
| Accrue)a and deferred income | 25,389 | 24,807 |
| 25,857 | 24,807 |