2022-03-31-accounts

Trustees			F. Hillman
			P. John
			D. Brasier
			D. Hams
			C. Benson
			J.Scarer
			A. Bates
			C. Parsons
			L.Green
			hh Cheeseman
			K. Brown
			N. Alt
Secretary			A. O'Shaughnessy
Charity	number		211763
Principal		address	6-8 Drmd	Street
			Tooley Street
			London
			SEI 2EIJ
Auditor			HB Accountants
			28 Plumpton		House
			Plumpton	Road
			Haddesdon
			Hertfordshtrc
			EN I I OLB
Bankers			National Westmmster				Bank
			201 Tooley	Street
			Landon
			SEI 2ZH
Investment		advisors	Investec Wealth			tk Investment
			2 Gresham	Street
			London
			FC2V 7QP

		Page
Tntstees' report		t -2
Statement oftrustees'	responsibtlittes
independent auditor's	repon	4-6
Statement offinancial	acttvtttes
Balance sheet
Notes to the linanctal	statements	9- 16

Structure, governance and management
The chauty is governed by the rules of its trust	deed dated			I February 1999and is an umncarporated									charity,			number
211763.
The chauty's working nanic is St Glaves United	Charities.
The trustees who served during the year and up	to the date			ofsignature ofthe financial				statements			were
F.Gillman
P. John
D. Brasier
D llama
C. Benson
J.Scorer
A. Bates
C Parsons
L.Green
hk Cheeseman
K. Brown
N. Ali
The charity has twelve tnistees ol'which six are	council	nominated and six are co-opted.
The procedure for electing council nominations	is earned		out by the		Southwark	Council		at their	meetings					ofthe
Voluntary Bodies Panel. A term offour years is	required	for each tnistee. Should the					trustee wish			to continue						for another
term then a new application is submitted to the council.		The application is reviewed					by the panel		and			a decision made as
to whether the trustee is re-elected.
The co-opted trustees are appointed in a similar	method	to		that which	the council uses. The apphcants								are	usually			known
to the trustees and each application is considered	in full	at	the trustees meeting.			Each newly appointed							trustee			is required
to confirm their acceptance in writmg. Each co-opted trustee has a term offive						years	and should		they				wish		to	be
reappainted this is voted on at a trustees meeting	prior to the end ofthe existing					tcrni.
The application farm mcludes a section that explains the responsibility ofthe trustee							as	well as the responsibihties
outlined by the Charity Commission.
The trustees, who meet quarterly, admimster the	chanty.	A		secretary	is appointed	by	the	trustees	to manage						the day-to-
day operations ofthe charity.
The scheme rules require the trustees ofthe charity to meet				the costs	ofniaintaining its properties					from the					income		m	the
general fund. After meeting the costs ofmaintaimng the		properties and the administrative						and management							expenses			the
scheme requires the trustees to apply the mcome	ofthe	charity in the			following	ways:
Not less than half ofthe income should be applied to the payment of					giRs and for the		relief ofthose				in		need;
Up ta 10%ofthe remainder ofthe incoine is distnbuted		to		local schools:
The remainder ofthe mcome is applied to provide holidays				for the cldetly and needy			families and			some assistance							is
provided for educational purposes to persons under the age				of25
In accordance with the scheme rules the trustees	may invest			funds of	the charity,	which are available						for investment,						m
any investments which are authonsed tbr the mvestment		oftrust t'unds under the				Tnistee		Investment			Act 1961 (amended1,
but they are not required to divide the funds between the narrower and wider range secunties are									specified					by		the Act
(amended).
As allowed by the scheme rules the trustees have	delegated			investment	management		responsibilities				to their				investment
advisors. The mvestment advisors have managed	funds	with the objective ofproviding high and							growmg					levels of
income.

				Unrestricted	Unrestricted
				funds	funds
				2022	2021
~lf			Notes
13onatfons				31,600
Investments				420.773	441,874
Total income				452,373	441,874
~ff** i
ff»~ f l
Investment management				68,488	62,195
Charitable activities
Gifts and rehef	for those in need			514,586	391,818
Educationalsupport				27,750	29,000
Total charitable		expenditure		542,336	420,818
Total expenditure				610.824	483,013
Net gains/(losses)		on invesnnents		672,141	2,202,758
Net movement	in	funds		513,690	2,161,619
Fund balances at I April 2021				16,901,612	14,739,993
Fund balances	at 31 March 2022			17,415,302	16,901,612

							2022		2021
						Notes
Fixed assets
Tangible	assets					10		473,393		477,292
Investments						11		16,697,925		16,051,519
								17,171,3)8		16,528.811
Current	assets
Debtors						12	85.953		45,207
Cash at	bank	and in	hand				)83,993		353,451
							269,946		398,658
Creditors: amounts			falling due within		one
year						13	(25,962)		(25,857)
Net current assets								243,984		372,801
Total assets		less current		liabilities				17,415,302		16,901,612
income	funds
Vnrestricted		funds						17,415.302		16,901,612
								17,415,302		16,901,612

Donations
			Unrestricted	Total
			funds
			2022	2021
Donations	and	gifts	31.600

4	Investments	Investments
			Unrestricted	Unrestncted
			funds	funds
			2022	2021
				f
	Income	from listed mvestments	420,773	441,873
	interest	receivable		I
			420,773	441,874

			Gifts and	Educational	Total	Gifts and	Educational	Total
			relief for	support	2022	relief for	suppoit	2021
			those in need			those in need
			2022	2022		2021	2021
			f	f		f	f
Staff costs			95,883		95,883	92,156		92,156
Depreciation	and impairment		3,899		3,899	3,899		3,899
Holiday costs						595		595
			99,782		99,782	96,650		96.650
Cirant funding	ofactivities
(see note 61			381,841	27,750	409,591	264,025	29.000	293,025
Share ofsupport costs (sec
note 71			23,963		23,963	22,143		22,143
Share ofgovernance		costs
(see note 71			9,000		9,000	9,000		9,000
			514,586	27,750	542,336	391,818	29.000	420,818

6	Grants payable
					Gifts and	Educations)	Total	2021
					relief for	support
					those in need
	Grants to mstitutions:
	Rotherhithe Festival				1,000		1,000
	Age LK				400		400
	Schools and Colleges							1,500
	Royal Bntish Legion				1,000		1,000
	Social Clubs				7,320		7,320
	Create				3,000		3,000
	Southwark Council					27,750	27,750	27,500
	Bermondsey Joy Slide							5,000
	Bermondsey Fit Club							1,000
	Breath ofLife							500
	Docklands Settlement	Community	Centre					1,000
	Tenants Associations				6,550		6,550
					19,270	27,750	47,020	34.000
	Grants to mdividuals				362.571		362,571	259,025
					331,341	27,750	409,591	293,025
	Support costs
		Support costs		Governance	2022	2021	Basis ofallocation
				costs
				5
	OtTice expenses		23,963		23,963	22,143
	Audit fees			4,500	4,500	4,500
	Accountancy fees			4,500	4,500	4,500
			23,963	9,000	32,963	31,143
	Analysed between
	Charitable activities		23,963	9,000	32,963	31,143

The average m	onthly number ofemployees dunng the y	ear was:
		2022	2021
		Number	Number
Administration
Employment	costs	2022	2021
		f	f
Wages and salanes		89,504	85,707
Social security	costs	4,689	4,851
Other pension	costs	1,690	1.598
		95.883	92.156

				Freehold land	Freehold	Fixtures, nttings	Total
				and hnildings	improvements	ds equipment
					f	f
Cost or valuation
At	I April 2021			450,000	164,067	19,102	633,169
At	31 March	2022		450,000	164,067	19,102	633,169
Depreciation		and impairment
At	I Apnl 2021				136,775	19,102	155,877
Depreciation		charged	m the year		3,899		3,899
At	31 March	2022			140.674	19,102	159,776
Carrying amount
At	31 March	2022		450,000	23.393		473.393
At	31 March	2021		450,000	27,292		477,292

					Listed	Cash in	Total
					investments	portfolio
					f
	Cost or valuation
	At 31 March	2022			15,690,797	360,722	16,051,519
	Additions				3,054,242		3,054.242
	Valuation changes				684,201		684,201
	Cash movement					509,502	509,502
	Disposals				(3,601,539)		(3,601.5391
	At 31 March	2022			15,827.701	870,224	16,697,925
	Impairment
	At I Apnl 2020 dc 31		March 2021
	Carrying amount
	At 31 March	2022			15,827,701	870,224	16,697,925
	At 31 March	2021			15,690,797	360,722	16,051,519
						2022	2021
						f
	Investments	at thtr val tie compnse.
	I'txed mterest	secunttes				2,102,880	2,338,747
	Equities					10.834,639	10,884,905
	Property funds					1,442,680	1,403,801
	Alternative mvestntents					1,447,502	1,063,344
	Portfolio cash					870,224	360,722
						16,697,925	16,051,519
	The htstoncal	cost of	the investments	at	the year end was 813.331,866(2021:f.13.213,919)
12	Debtors
						2022	2021
	Amounts falling due		within one year:			f
	Prepayments	and accrued income				85,953	45,207
13	Creditors: amounts		falling due within		one year
						2022	2021
	Other creditors						468
	Accruals and	deferred	income			25,962	25,389
						25,962	25.857