Charlty Registratlon No. 211980 ROTHERHITHE CONSOLIDATED CHARITIES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ROTHERHITHE CONSOLIDATED CHARITIES LEGALAND ADMINISTRATIVE INFORMATION Charity number Trustees 211980 L. Zuleta (Chairl S. Cryan R. Livingstone M. Crawley A. White C. Tejero A. Hood E. Mendy P. Messan {appointed 3 December 20241 R, White (appointed 3 December 20241 W. Griffiths D. Payne Father M. Nicholls A. Hashemzadeh Ireslgned 16 July 20241 Clerk to the Trustees M. Allgood Flnance Manager M. C. Wllson Prlnclpal office c/0 Southwark Charities 42 St Mary Newin8ton Close Surrey Square London. SE17 2LP Independent examlner Patrick Crockford FCCA Flat 13 Drake Court Swan Street London. SEI IBH Banker5 Unity Trust Bank plc P.0. Box 7193 Planetary Road Willenhall. WVI 9DG Investment advisors CCLA Investment Management Ltd. One Angel Lane London. EC4R 3AB Brown Shipley & Co. Ltd. 2 Moorgate London. EC2R 6AG
ROTHERHITHE CONSOLIDATED CHARITIES CONTENTS Page Trustees, report 1-12 Statement of Trustees, responsibilities 13 Independent examiner's report 14 Statement of financial activities 15 Balance Sheet 16 Notes to the financial statements 17-24
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the year ended 31 December 2024. The accounts have been prepared in accordance with the atcounting policies set out in Note I to the accounts and comply wwth the Charity's governing document, the Charities Act 2011, and Accounting and Reporting by Charities.. Statement of Recommended Practlce applltable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 1021 las arnended for accounting periods commencing from l January 20161. strurture, governance and management The charity is governed by a Scheme dated 3 December 2024 which replaces previous Schemes and Amendments dated 12 July 2012, 9 February 1967, 16 May 1958, 15 January 1926 and 14 November 1905. The Trustees unanimously approved a special resolution on 16 July 2024 to amend the charity's governing document and approved 2 further special resolution on 3 December 2024 to confirm acceptance of the Charity Commission's consent dated 8 November 2024 to approve the new objects clause. The Trustees are grateful to Wlnckworth Sherwood LLP for its advice on rnoderni5ing and updatlng the charlty's governing document to reflect the charrty's present-day operations. The Trustees who served during the year are listed on page two. On approval of the charity's new governing document, the requirement for representative Trustees to bo appointed by the London Borough of Southwark was, with LB Southwark's prior agreement, removed, with all previously representative Trustees IL. Zuleta, S. Cryan, M. Crawley, A. White and D. Payne) becoming co-optative Trustees. The charity ha5 one ex-officio trustee, Fr. M. Nicholls, the rector for the time being of St Mary's Church, the Parish Church of Rotherhithe. The board of Trustees meets quarterly and manages the charity. The Trustees have established two sub-committees o* Trustees: A Grants Committee lest. 20231 that decides all recommendations of applications Put forward by the Clerk to Trustees for community grants, hardship referral grants and pensioner stipends: and a Recruitment Committee lest. 20241 to manaEe the recruitrnent of new Trustees to replace those Trustees that are retiring at the end of their current term5 of office. In Mav 2024, Trustees participated in Community Southwark's governance training and are content that the charity is on track. In December 2024, the charity appointed and welcomed two new Trustees: P. Messan and R. White to serve an initial first term of 3 years. One trustee, A. Hashemzadeh, resSgned earlier in the year due to moving out of the Parish of Rotherhithe. During the year. a recrultment pack was prepared for new Trustee recruitment, and a Trustee code of conduct agreed by the board. The charity's day-to-day grants and finance operations are carried out by Southwark Charities under a Service Level Agreement with the Trustees dated July 2022. Objectlves and actlvltles After meeting administrative and management expenses the charity's governing document requSres the Trustees to apply the income of the charity In the following ways for the general benefit of the residents of the Ancient Parish of Rotherhithe (the Area of Benefit) that are in need, in particular by providing:
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEE5' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 lal stipends for older persons of state pension age living in the Area of Benefit meeting the criteria deterrnined from time to time by the Trustees; and/or Ibl Financial hardship grants, by referral from public or voluntary organisations In the United Kingdom, for adults lover 18 year-olds) meeting the hardship criteria determined by the Trustees, towards essential replacement household items and equipment; andlor Icl Grants to charitable organisations and not for profit organisations, as determlned by the Trustees from time to time, who promote or help to promote the Charity's charitable objects and who in turn provide service5 and initiatives for residents and for communitie5 that are in need; and/or Idl any other means as the Trustees Consider necessary to prevent or relieve poverty for those livlng In the Area of Benefit. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities, including public benefit, the Charity should undertake. Achievements, performance and financial review Rotherhlthe Consolidated Charlties IRCC) is one of several ancient, endowed charities that operate in the north of the London Borough of Southwark. Our charitable purpose is for the general benefit of resident5 living in the charity's area of benefit, the Ancient Parish of Rotherhithe, that are in need. The Ancient Parish of Rotherhithe is the area that lies to the East of West Lane and to the East of Galleywall Road and includes all of present-day Rotherhithe, Surrey Quays lor Surrey Docks) and Canada Water in the London Borough of Southwark. In terms of electoral wards, the Area of Benefit comprises all of Rotherhithe ward, all of Surrey Docks ward and small parts of North Bermondsey, South Bermondsey and Old Kent Road wards. The Charlty's grants and actlvities are funded from income and some capital growth generated by its endowment, which since 2022 has been invested in investment funds through CCLA and Brown Shipley. The Charity has also, since 2023, received supplementary Parish grants from Henry Smith Charityi as well as the standard Parish grant, to benefit residents living in the Parish of Rotherhithe that are in need.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Grants to Indlvlduals Pensioner stipends Ll¥e In Rotherhlthe T Aged 66orabove? Apply todav: 075982001 An excellent collaboration between the Clerk to the Trustees and LB Southwark's Exchequer Services Team enabled the charity to more than double the number of pensioners living in The Ancient Parish of Rotherhithe in receipt of the annual stipend. Following a trial exercise in February 2024, LB Southwark sent 1456 letters to pensioners in receipt of Pension Credit, or potential Pension Credit claimants, living in the 2 full electoral wards and 3 partial electoral wards that comprise the charity's Area of Benefit in August 2024. The Clerk to Trustees subsequently received over 120 enquiries, mainly by phone. Following a brief check against the charitls eligibility criterla for stipends, those that appeared to be eligible were invited to formally apply for the stipend. Completed applications received were assessed by the Clerk to Trustees and recommendations on awards decided by the charity's Grants Committee. In 2024, 49 stipend applications were received, of which 41 met the criteria and were approved for stipends, 5 applications did not meet the criteria and 3 applications were incomplete, requiring further information. By the end of 2024. the charity had increased its stipendiary beneficiaries to 65 compared with 28 beneficiaries at the start of the year, of whom 4 sadly died during 2024. Those applicants and enquirer5 that did not meet the eligibility criteria were referred to other local charities in Southwark for support. The charity extends its thanks to Eugene Nixon, Andrew Johnson and Thomas Watkins. LB Southwark's Exchequer Services, for helping the charity to extend its reach to those pensioners living in it5 area of benefit that are in need. The Trustees consider that this collaborative exercise is directly replicable by other local and parish-based charities giving grants to individuals in LB Southwark that are in need. Sti end criteria The eligibility criteria for stipends agreed by the Trustees are those people that: lil are of state pension age, i.e. 66 years or above, lill have lived in the Ancient Parish of Rotherhithe for at least 5 years, Illi} evidence low income e.g. be in receipt of a means-tested benefit, such as pension credit and/or with the state pension as main source of income, livl evidence low savings - below £8,000 for individuals and below £16,000 for a household, Iv) do not own their own property. Ivil and are not a current member of the St Olave's United Charity. Sti end ments In 2024, the annual stipend was £200 payable in two equal instalments of £100 at the end of June and In mid-December. In June 2024, stipends totaling £3,875 were paid to 36 stipendiaries, including one member who was unable to reapply forthe stipend in 2022 and received back dated payment of £275.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR EAIDED 31 DECEMBER 2024 In December 2024, stipends totaling £6.600 were paid to 66 stipendiaries, including I stipendiary who died shortly afterwards. As at 31 December 2024 65 stipendiaries were beneficiaries of the charity. Total stipends payments for 2024 were £10,47512023: £5,7751. hank you very much Indeed. The stlpend before Christmas hos helped me out tremendously" Rotherhithe Consolidated Charities stipendiary, January 2025. The Trustees approved an increase to the annual stipend from 2025 to £250, with £100 payable in June 2025 and £150 payable in mid-December 2025, including an increment for the festive season. All stipendiaries have been notified and have been provided with the charitvs guide to essential Winter services provision in and around The Parish of Rotherhithe, updated for 2024/25. Hardshlp grants Hardshi rant a ments During the year, four hardship referral grants totaling £2,302.61 12023.. £744.82) were approved and paid to: Age UK Lewisham & Southwark. The charity received two hardship referral grants during the year. One was for a new rug Ipicturedl and new fridge-freezer for a Rotherhithe pensioner living in social housing; the other was to purchase and install new blinds and a new fridge-freezer for an older adult living in social housing in Canada Water. Southwark Council's mental health resettlement team towards a new fridge with freezer compartment for an older adult living in sheltered accommodation in Rotherhithe. Time and Talents towards bedroom and living room furniture for a family living in Rotherhithe on low-income. "Deur RCC, I wanted to thonk you for all your support. The gront you provided has made o significant difference to me, and l om sincerely thonkful. Wishing everyone at RCC continued succe55 in your meaningful work." Rotherhithe Consolidated Charitie5 grant beneficiary, December 2024. Hardshi rant criteria In 2024, the eligibility criteria for hardship grants agreed by the Trustees were those adults that: lil are living in the Ancient Parish of Rotherhithe, lill evidence low income, e.g. be in receipt of a means-tested benefit. or have no recourse to public funds, liiil evidence no savings, or low savings, livl whose referral application must be made by recognised public or voluntary sector organisation5 providing direct support in the area of benefit. Grants are one-off and up to a maximum of £1,000 for essential household equipment such as kitchen appliances, bedroom and living room furniture from recommended suppliers.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Grants to or anisations Grants to or anisations awarded and aid 27 grants were awarded to voluntary & community organisations and charities in the year to 31 December 2024 totalling £80,600, compared with 22 awarded in 2023, totalling £59,133 a partial year, as the charity's grant5 to organisations resumed following relaunch in March 2023. See note 7 for details of amounts. Grantsto or anisations criteria From March 2023, applicant organisations are required to discuss with The Clerk to Trustees their proposals prior to applying on the Flexi-Grant online portal using the Rotherhithe Consolidated Charities application form. The Trustees agreed the following priorities from 2024 for its area of benefit, The Ancient Parish of Rotherhithe.. low-income residents, families. younger people and children; older people living in isolation: people with disabilities; and activities to improve community cohesion. Eligible organisations were those that supported residents in the area of benefit that were in need, and that were properly constituted with a minimum of three Management Committee members. Applications were assessed by The Clerk against the following assessment criteria and circulated with recommendation to the charit¢s Grants Committee, to scrutinise and decide grant applications in correspondence after five working days: lil to what extent does the application benefit people in need in the area of benefit? lill does the organisation have a track record of effective delivery or. if the organisation is new, the experience/capacity to deliver the proposed initiative? liiil to what extent does the proposed Initlative leverage other funds or support? livl are budget Costs approprlate? Focus Children and Young People. The charlty supports initiatives that benefit children and young people living in the Parish of Rotherhithe that are in need, given the recent c105ure of 2 traditional youth clubs in the area. During the year, the charity awarded 9 grants to community organlsatlons and charities providing services and initiatives for children and young people from the area of benefit, such as the Dockland Settlements holiday camp actlvities for children Ipicturedl. The charity also ensured the ongoing operation of Docklands J.F.C. with a grant to support the cost of pitch hire fees at Bacons College In the 2024-2025 football season. At the charity's suggestion, Community Southwark's Children and Young People's Network will, in 2025, examine youth provision in Rotherhithe and explore opportunities for collaboration for local service providers.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Low-income resldents. The charity supports initiative5 that benefit low-income residents and families living in the Parish of Rotherhithe. During the year, the charity awarded 7 grants to community organisations and charities providing services and initiatives for low-income residents from the area of benefit. The charity was the first funder of Rotherhithe Community Kitchen Ipicturedl, operated by Shining Light 4U C.l.C., which prepares and delivers fresh nutritious cooked meals to local residents In need. The charity a150 SUPPOrted Citizens Advice Southwark to run further Cost-of-Living support roadshows, and the costs of a pension credit advice worker in Autumn 2024 to encourage local pensioners to apply for pension credit before the 21, December 2024 deadline in order to keep the Winter Fuel Allowance. Older people. The charity supports initiatives that improve the wellbeing of older people living in the Parish of Rotherhithe. During the year. the charity awarded 5 grants to community organisations and charities providing Services and initiatives for older people living in the area of benefit. This included the 'Eat Well to Stay Well, project for local older people run by the Community Empowerment Support Organisation charity at Silverlock Hall, comprising healthy exercise and nutrition advice Ipicturedl. Communlty coheslon. The charity supports initiatives that bring together residents from diverse communities in the Parish of Rotherhithe and build community cohesion. During the year the charity awarded 3 grants to activities building community cohesion in the Parish of Rotherhithe, including 2 free annual community festivals - The Rotherhithe Festival Ipicturedl, and The Bermondsey Carnival at Southwark Park, which was this year administered at short notice by Southwark Park Association 1869, following the passing of Blue Bermondsey BID'S Russell Dryden. The charity also supported Restorative Justice For All's Speak Up events and casework for Rotherhithe residents and institutions.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 •otso People wlth dlsabilities. The charity supports initiatives that improve the lives of people with physical, mental and learning disab51ities from the Parish of Rotherhithe. During the year, the charity awarded 2 grants to community organisations and charities providing services and initiatives for people with disabilities living in the area of benefit. This Included a grant to support the running costs of the London PE & School Sports Network's Saturday Special Educational Needs and Disabilities ISEN DI club at Bacons College Rotherhithe Ipicturedl. The much-loved SEN D club provides multiple sports and activities for clients living with profound disabilities. The grant was an important intervention in ensuring continuity of the club's actlvities during Summer 2024 following loss of public funding. A further grant was awarded to Bede House, to enable sailing activities for people living in the parish of Rotherhithe with learning disabilities, in partnership with Tideway Sailability, during the sailing season between Spring and Autumn 2025. nsENE4ERYSITURDAY Grants reach As part of our grants process we require funded organisations to submit an end of grant Impact report. As at 28 February 2025 15 grants awarded in 2024 had completed and demonstrated total beneficiary reach of 7,508 people from the charity's area of benefit of which 3,085 from BAME communities141°Al and 764 with disabilities IIO%I. The 22 grants awarded in 2023 are all complete and have demonstrated total beneficiary reach of 6,498 people from the charity's area of benefit of which 3,392 from BAME communities152%} and 1,285 with disabilities120'AI. Charltable glvlng In 2024. Our charitable giving in 2024 can be summarised as follows: No of grants 27 Type Grants to organisations Pensioner stipends Hardship grants Total Amount £80,600 68 £10,475 £ 2,302.61 99 £93,377.61 The charity also joined the Institute for Voluntary Action Research's Open and Trusting Initiative and is signatory to the 8 commitments of funding good practice.. don't waste time, ask relevant questions, accept risk, act with urgency, be open, be flexible, communicate with purpose, and be proportionate. 10
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Future plans A number of the charity's Trustees are scheduled to retire in 2026 and in 2027 when they reach the end of their current term of appointment. The charity has started and will continue the proce55 of recruitment of new Trustees that either live, or work, in the charlty's area of benefit, the Ancient Parish of Rotherhithe (Rotherhithe, Canada Water and Surrey Quaysl to further the charlty's mi55ion.
ROTHERHITHE CONSOLIDATED CHARITIES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review The Charity had a surplus of income over expenditure before investment gains1llossesl for the vear of £46,65612023'. £110,469). The FTSE 100 was fairly steady during 2024, with a Labour Government elected in Ju Iv. Overall, the index rose by c6%. The i nvestments grew by £253,670 for the year12023.' ga in of £367.2821. As a result, the overall surplus for the year was a healthy 300,32612023: surplus £477,751). Funds at the year-end were £6,338,77912023: £6,038,453). Within the area of benefit, net stipend and hardshlp referral grant payments of £12,77812023: 6,5201 were made. Institutional grants amounting to £80,60012023: £59,133) were made. Reserves pollcy It is the policy of the Charity that unrestrlcted funds whlch have not been deslgnated for a specific use should be rnaintained at a level to provide investment income sufficient to cover grants and administrative costs. This level of reserves has been maintained throughout the year. Investment pollcy The Trustees have delegated the investment management responsibilities to their investment advisers who have managed the funds with the objective of providing high and growin8 levels of income. Risk management The Trustee5 have identlfled and assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks. The Trustees, report was approved by the Board of Trustees on 11 March 2025 and signed on their behalf by.. Signed.. L. Zuleta Dated.. 03..106/. Trustee 12
ROTHERHITHE CONSOLIDATED CHARITIES STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees are responslble for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affalrs of the Charity and of the incoming resources and application of resources of the Charity for that year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them con51Stently,' observe the methods and prlnclples in the Charities SORP; . make judgements and estimates that are reasonable and prudent,. state whether appllcable accounting standards have been followed, subjett to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charity will continue in operatlon. The Trustees are responsible for keeping sufficient accounting records that 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 taklng reasonable steps for the prevention and detection of fraud and other irregularities. 13
ROTHERHITHE CONSOLIDATED CHARITIES INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF ROTHERHITHE CONSOLIDATED CHARITIES I report to the trustees on my examination of the financial statements of Rotherhithe Consolidated Charities (the Charity) for the year ended 31 December 2024. Responslblllties and basis of report As the trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 Ithe 2011 Act). I report in respect of my examination of the Charitl5 financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commi5slon under section 14515llbl of the 2011 Act. Independent examiner's Statement Your attention is drawn to the fact that the charlty has prepared financial staternent5 in accordance with Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on l April 2005 which is referred to in the extant regulations but has now been withdrawn. l understand that this has been done in order for flnanclal statements to provlde a true and fair vlew in accordance with U.K. Generally Accepted Accounting Practice effective for reporting periods beginning on or after l January 2015. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: {il accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act.. or Illl the financial statements do not accord with those records,. or liiil the financial statements 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. I have no concerns and have come acros5 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 financial statements to be reached. Patrick Crockford FCCA Flat 13 Drake Court 12 Swan Street London. SEI IBH Dated: Q !* 14
ROTHERHITHE CONSOLIDATED CHARITIES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Notes Income from: Donations and legacies Investments 10,300 173,720 22,390 177,137 Total Income 184,020 199,527 enditure on: Raising funds Charitable activities 43,986 23,405 93,378 65,653 Total resources expended 137,364 89,058 Net gains/llossesl on investments li 253,670 367,282 Net movement in funds 300,326 477.751 Fund balances at l January 2024 6,038,453 5,560,702 Fund balances at 31 December 2024 6,338,779 6,038,453 The statement of financial activitie5 includes all gains and losses recognlsed In the year. All income and expendlture derive from continuing activities.
ROTHERHITHE CONSOLIDATED CHARITIES BALANCE SHEET ASA T31 DECEMBER 2024 20Z4 2023 Note Flxed assets InvestrnentS 12 6,126,662 5,872,992 Current assets Debtors Cash at bank and in hand 13 215,867 165,461 Creditors: amounts falling due wlthin one year 14 13,7501 Net current assets 212,117 165,461 Total assets less current Ilabllltles 6,338.779 6,038,453 Income funds Unrestricted funds 6,328,579 6.026,253 12,200 Restricted funds 10,200 6,338,779 6,038,453 The financial statements were approved by the Trustee5 on o,4,06..1..£and signed on their behalf by., L. Zuleta Trustee The notes on pages 17-24 form part of these financial statements.
ROTHERHITHE CONSOLIDATED CHARITIES NOTE5TO THE FINANCIAL5TATEMENT5 FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng pollcles Charity information Rotherhithe Con501idated Charities Is a trust. The registered office is clo Southwark Charities, 42 St Mary Newington Close, Surrey Square, London. SE17 2LP. 1.1 Accountlne conventlon The accounts have been prepared in accordance with the Charity's trust deed, the Charities Act 2011 and "Accountlng and Reporting by Charlties.. Statement of Recommended Practlce applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from l January 2016). The Charity is a Public Benefit Entity as defined bv FRS 102. The Charity has taken advantage of the provlslons In the SORP for charltles applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair vlew. Thls departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financlal statements are prepared in sterlin& which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The accounts have been prepared under the historical cost convention, modified to include the revaluation of investments. The principal accounting policies adoptecl are set out below. 1.2 Going concern The Trustees believe that the charity ha5 adequate cash resources in order to pay all of its creditors as they fall due for the foreseeable future and for at least twelve months from the date of slgnlng these fSnancSal statements. J.3 Charltable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 1.4 Incornlng resources Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amount5 can be measured reliably, and it is probable that income will be received.
ROTHERHITHE CONSOLIDATED CHARITIES Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Investment income Is accounted for on a receivable basi5. 1.5 Resources expended Expenditure is recognized 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 obligatlon can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Expenses intlude VAT where applicable as the charity cannot reclaim it. 1.6 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 value are recognised in net income/{expenditurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short- term liquid investments with original maturities of three rnonths or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabllities. 1.8 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Flnancial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the Instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial staternents, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to fealise the asset and settle the Ilablllty simultaneously. Baslc financiul asset5 Basic financial assets, which include debtors and cash and bank balances, are initially measured at transactlon 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 of Interest. Flnancial assets classified as receivable within one year are not amortised. 18
ROTHERHITHE CONSOLIDATED CHARITIES 8oslcfinancial liabllltles Basic financSal liabilities, including creditor5 and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are Dbligation5 to pay for goods or 5ervice5 that have been acquired in the ordinary course of operations from suppllers, Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities, Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognltlon oflinonciul liobilitles Financial liabilities are derecognised when the Charit¢s contractual obligations expire or are discharged or cancelled. 19
ROTHERHITHE CONSOLIDATED CHARITIES NOTESTOTHE FINANaALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 NOTESTO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2024 Crltlcal accountlng estlmates and judgements n the appllcation of the Charit¢s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated a5SUmPtions are based on historical experience and other factors that are considered to be relevant. Actual results may dlffer from these estimates. The estimates and underlying assurnptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and future periods. Funds Fund5 2024 2023 Donatlons and legacies Donations and gifts 10,300 22,390 Investments Income from listed investments 173,720 177,137 Ra151n8 funds Share of support costs15ee note 81 32,367 21,785 Share of governance c05t5 (see note 81 11,619 1,620 Investment management fees Total 43.986 23,405 20-
ROTHERHITHE CONSOLIDATED CHARITIES NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charltable actlvltles 2024 2023 Grant funding of activities Isee note 7) 93,378 65,653 Analysis by fund Unrestricted Funds Restricted Funds 83,178 10,200 65,653 Grants payable 2024 2023 th 14 Bermondsey Scout Group Art in the Park Ballers Academy CIC Bede House Association Bermondsey Community Kitchen CIC Bizzie Bodies CIC Blue Bermondsey Canada Estate TRA City Hope Church Collaborative Arts Community Empowerment Support Organisation Constructlon Youth Trust Dockland Settlements Docklands JFC Fresh Visions Charlty- Barnards House Global Generation Hawkstone TRA Holy Trinity Rotherhithe London Bubble Theatre Mads Do & Mend CIC Mayflower TRA Restorative Justice Roosters Boxing Club Rotherhithe Festival Shlnlng Light 4U CIC- Rotherhithe Community Kitchen South Dock Marina Berthholders Association CIC Southwark Citizens Advice Southwark Park Association 1869 Time & Talents I,iio.00 1,565.00 782.50 2,730.00 3,492.00 2,250.00 7,410.00 5,000.00 500.00 5,000.00 5,000,00 2,000.00 2,980.00 3,750.00 4,890.00 2,500.00 1,980.00 4,530.00 2,550.00 1,000.00 4,100.00 750.00 2,073.00 3,000.00 2,042.50 1,000.00 3,000.00 4,500.00 3,000.00 1,000.00 5,000.00 4,000.00 4,100.00 3,250.00 7,000.00 5,900.00 3,000.00 5,400.00 8,528.00 21
ROTHERHITHE CONSOLIDATED CHARITIES NOTESTOTHE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR Ef*JDED 31 DECEMBER 2024 Tower Hamlets Youth Sport Foundation Tutor5 United United Schools Church Trust- London PE & School Sports Network 2,000.00 3,070.00 3,000.00 80,600.00 59,133.00 Grants to individuals 12,778.00 6,520.00 93,378.00 65,653.00 Support Costs 2024 2023 Support Costs Governance T(rtal Costs Total Offlce administration and services of the Clerk to the Trustees 30,000 30,000 24,000 other expenses 2,367 2,367 2,786 Independent Examlnatlon fee Accountancy and administration fee 1,555 1,555 1,620 Extraordinary Legal fees re,. Charity Scheme 10,064 10,064 32.367 11,619 43,986 28,406 Brought forward adjustment to accruals 15,0011 Analysed between charitable actlvities 32,367 11,619 43,986 23,405 Trustees None of the Trustees lor any persons connected with them) received any remuneration from the Charity durlng the year. No expenses12023'. £Nill were pald to any of the Trustees in the year. 22-
ROTHERHITHE CONSOLIDATED CHARITIES NOTESTO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Employees The charity had no employees during the year12023: None). li Net gains/llosses} on Investments Unrestrltted Total funds 2024 2023 Revaluation of investments Gainlllossl on sale of investments 253,670 367,282 253,670 367,282 12 Fixed asset investrnents Listed investments Cash in portfollo Total Cost or valuatlon At l January 2024 5,872.992 5,872,992 Additions Valuation chan8es 253,670 253,670 Profitslllossesl on disposals Cash movements Disposa15 At 31 December 2024 6 126 662 6 126 662 Carrylng amount At 31 December 2024 126 662 At 31 December 2023 87 72 13 Debtors 2024 2023 Amounts falllng due withln one year: Other debtors Prepayments and accrued income -23-
ROTHERHITHE CONSOLIDATED CHARITIES NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Creditors: arnounts falling due wlthln one year 2024 2023 Accruals and deferred income 3,750 15 Related party transaction5 During the year- 2 grants were made to Bizzie Bodie5 CIC, totalling £7,410. One of the Trustees, E. Mendy, is a director of this organisation. I grant was made to Dockland Settlements for £4,890. One of the Trustees, E. Mendy is an employee of this charity. 16 Control The Charity is controlled by the Trustees. 24-