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|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|||||
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|||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|
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|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.|||||||||||||||||||
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|||||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|
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||||||||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|
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|Donations|||||
|---|---|---|---|---|
||||Unrestricted|Total|
||||funds||
||||2022|2021|
|Donations|and|gifts|31.600||
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|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|
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|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|||
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|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|
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||||||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|
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