The Fern Street Settlement Report and Accounts year ended 30 September 2020
1 Lamb's Passage LONDON EC1Y 8AB t: 0208 502 5600 e: enquiries@stewardship.org.uk w: www.stewardship.org.uk
## **THE FERN STREET SETTLEMENT**
## **LEGAL AND ADMINISTRATIVE DETAILS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2020**
ADDRESS FOR CORRESPONDENCE Fern Street Bromley by Bow London E3 3PS GOVERNING DOCUMENT Constitution dated 19th October 1961 as amended 19th December 1991 and scheme of the 15th January 1973 CHARITY REGISTRATION NUMBER 250500 TRUSTEES RESPONSIBLE FOR Mr Rupert De Klee MANAGING THE CHARITY Mr David Mears (until 4 November 2019) Rev Cris Rogers Ms Joanna Read Mr John Hudson BANKERS Barclays Bank UK PLC INDEPENDENT EXAMINER Jaimée Young Stewardship 1 Lamb's Passage LONDON EC1Y 8AB **INDEX** Page 1 Legal and Administrative Details Pages 2-4 Trustees' Report Page 5 Independent Examiner's Report Page 6 Receipts and Payments Account Page 7 Statement of Assets & Liabilities Page 8 Notes to the Accounts
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## **THE FERN STREET SETTLEMENT**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2020**
The Trustees have pleasure in submitting the Report and Accounts for the year ended 30 September 2020.
## **Objects of the charity**
The charity is governed by a constitution and is constituted as a trust.
The Settlement was founded in 1907 by Clara Grant (awarded the OBE in 1949), a local head teacher and renowned for handling out 'Farthing Bundles' as part of her mission to tackle local poverty. The charity’s revised 1961 constitution (as amended 1973 and 1991) confirms its objective to relieve and help families and others living in the area immediately surrounding the Settlement.
More recently, the trustees have, through a partnership arrangement with All Hallows Bow Church, agreed a vision that seeks to be 'the most inspirational family life centre in Bow'. To do this, the Settlement exists to create opportunities for families to flourish and children to thrive, thus laying the foundations for a vibrant community. The community focus is on parents, carers, and their children up to 16 years in the local wards of Bromley north and south plus Bow Common.
## **Summary of the charity's main activities and achievements**
To further the above objects and vision, the charity's main activities and achievements were as follows:
The Settlement continues to have as its main aim the relief of hardship within families and for individuals who live locally. Accordingly the Settlement has throughout the year continued to host in its premises and financially support the Fern Street Family Centre, set up by All Hallows Bow Church in close collaboration with the Settlement.
In March 2020, half way through the year, the landscape for the range of support and services usually provided by the Centre changed dramatically in response to the outbreak of the coronavirus. Where and when possible the premises at Fern Street have been utilised, if only for part of the year, for a number of the initiatives that included:
- Youth mentoring scheme and youth outreach through the Eden Bow youth team
- After-school and holiday clubs
- Parent-and-toddler group and other groups promoting the development of young children
- Parenting support work, family learning and ESOL training
Owing to the rigours of social distancing and essential-only contacts of the above, the after-school and holiday clubs were postponed. Others have been re-invented using modern technology and social media to engage virtually and remotely, maintaining the all important connections of a well knit community.
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The project is being run by Ms Sara Brayford and ably supported by a core team and volunteers. During the year, sufficiently significant progress was made on the fundraising for the work such that previous reliance for financial support from the Settlement was not required. The ambition of the project remains to be self sufficient and be able to contribute to the overheads and running of the premises.
In what has been an extremely difficult year, and may continue to be so, the Trustees have been very impressed by the reaction and response by the team to the pandemic. Indeed it could be said that new opportunities have been embraced and alliances have been either strengthened or new ones formed.
The Trustees remain delighted with the progress being made in reaching out into the community and extending the reach of the project in ways that fit very closely to the ethos of The Settlement.
In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.
## **Financial review**
During the year income increased by £2,200, to £29,200, and expenditure increased by £1,900, to £26,400. As a result the cash held by the charity increased by £2,800, to £27,800, of which all is unrestricted and can be used for any charitable purpose.
## **Reserves policy**
The trustees have determined that the charity should aim to hold unrestricted cash of no less than £5,000 (which equates to about approximately 3 months' of unrestricted expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £27,800 and the charity is complying with its reserves policy and will look to transfer the excess to the Charities official investment fund.
## **Governance**
Responsibility for setting policy and for making operating decisions rest with the trustees. The charity's board of trustees governs the Charity and trustees are appointed or reappointed at the annual general meeting. Additional trustees may be co-opted by the board of trustees as and when necessary at other times during the year. The trustees delegate certain specific functions to volunteers, but the charity does not employ any staff.
## **Relationships with other charities and related parties**
The charity is independent of any other charities or organisations, but works closely with other local organisations, notably the London Borough of Tower Hamlets and All Hallows Bow Church. These two relationships enable a wide range of community focused activities to be provided in the premises leased by the charity.
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## **Risk statement**
The trustees undertake regularly a review of the major risks to which the charity is exposed and establish procedures to mitigate those risks.
## **Responsibilities of trustees**
Charity law requires us as Trustees to prepare financial statements for each accounting year which record the receipts and payments of the charity for the year.
We are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable us to ensure that the financial statements comply with the Charities Act 2011.
We also have a responsibility to safeguard the assets of the charity and to take reasonable steps to prevent fraud or any other irregularities.
## **Approval**
This report was approved by the trustees and signed on their behalf by:
Mr R de Klee (Chairman)
Date: 10 February 2021
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## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF**
## **THE FERN STREET SETTLEMENT**
I report to the trustees on my examination of the accounts of The Fern Street Settlement ('the charity') for the year ended 30 September 2020 on pages 6 to 8 following.
## **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 2011 (‘the 2011 Act’).
I report in respect of 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 all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in accordance with section 130 of the 2011 Act; or
2. the accounts do not accord with the accounting records.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Jaimée Young
Stewardship 1 Lamb's Passage LONDON EC1Y 8AB
Date: 15 February 2021
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## **THE FERN STREET SETTLEMENT**
## **RECEIPTS AND PAYMENTS ACCOUNT**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2020**
|Notes
**_Income receipts_**
Donations
Legacies
Grants
Income from letting of facilities
Investment income
Other
**_Total receipts_**
**_Payments_**
2
3
**_Total payments_**
Transfers between funds
5
**Net movement in funds**
Cash funds as at last year end
**Cash funds at this year end**
A
Net of receipts / (payments) before
transfers
Grants paid in relation to charitable
activities undertaken by others
Payments
in
relation
to
charitable
activities undertaken directly||General
Designated
Funds
Funds
£
£
250
-
759
-
5,000
-
9,455
-
13,661
-
108
-
29,233
-
15,947
-
10,500
-
26,447
-
2,786
-
-
-
2,786
-
25,053
-
27,839
-
Unrestricted Funds|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2020
£
250
759
5,000
9,455
13,661
108
29,233
15,947
10,500
26,447
2,786
-
2,786
25,053
27,839|Total
2019
£|
|---|---|---|---|---|---|
|||General
Funds
£
250
759
5,000
9,455
13,661
108
29,233
15,947
10,500
26,447
2,786
-
2,786
25,053
27,839||||
||||||275
-
-
13,311
13,407
-|
||||||26,993|
||||||9,400
15,115|
||||||24,515|
||||||2,478
-|
||||||2,478
22,576|
||||||25,053|
The notes on page 8 form part of these accounts.
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## **THE FERN STREET SETTLEMENT**
## **STATEMENT OF ASSETS AND LIABILITIES**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2020**
|General
Designated
funds
funds
£
£
**A Cash funds**
Current account
18,656
-
Deposit account
9,183
-
**27,839**
**-**
**B Other monetary assets**
Other debtors
-
-
**-**
**-**
**C**
**Investment assets**
COIF Charities Investment Fund: 26,541.89 (2019: 26,541.89) income shares
_Unit price (pence per unit)_
Market value at 30 September
456,916
-
**D Liabilities**
**Falling due within one year**
Property rental paid in advance
3,152
-
Fee for Independent Examination
690
-
**3,842**
**-**
**E**
**Assets retained for charity's own use**
Contents
Unrestricted Funds|Restricted
funds
£
-
-
**-**
-
**-**
-
-
-
**-**|Total
2020
£
18,656
9,183
**27,839**
-
**-**
2020
£
1,721
456,916
3,152
690
**3,842**
2020
£
5,639
**5,639**|Total
2019
£|
|---|---|---|---|
||||15,908
9,146|
||||**25,053**|
||||221|
||||**221**|
||||2019
£|
||||1,662|
||||441,070|
||||-
1,140|
||||**1,140**|
||||2019
£|
||||5,501|
||||**5,501**|
The trustees have used insurance values as the trustees are unable to reliably estimate current values; insurance values may differ materially from current values.
The accounts were approved by the trustees and signed on their behalf
by date Mr R de Klee (Chairman) 10 February 2021
The notes on page 8 form part of these accounts.
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## **THE FERN STREET SETTLEMENT**
## **NOTES TO THE ACCOUNTS**
## **FOR THE YEAR ENDED 30 SEPTEMBER 2020**
## **1 Accounting policies**
The accounts have been prepared on a receipts and payments basis and comprise a statement that shows the charity's receipts and payments, a statement that summarises the charity's assets and liabilities and related notes. The accountancy profession have determined that only accounts prepared in accordance with applicable accounting standards present a 'true and fair' view and, as these receipts and payments accounts have not (and cannot) be prepared in accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair' view of the charity's financial activities and state of affairs.
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.
|**2**
**Payments in relation to charitable activities undertaken directly**
Repairs and maintenance
Rates and Insurance
Utilities including telephone
Governance
Administration and support|Unrestricted Fu
General
funds
£
7,687
2,985
3,396
690
1,189
15,947|nds
Designated
funds
£
-
-
-
-
-
-|Restricted
Funds
£
-
-
-
-
-
-|Total
2020
£
7,687
2,985
3,396
690
1,189
15,947|Total
2019
£|
|---|---|---|---|---|---|
||||||1,678
3,782
3,028
-
913|
||||||9,400|
|**3**
**Grants and gifts paid to others**
Organisations:
All Hallows Bow
Eden Bow Project
Cross Teach Trust
Organisations < £1,000|9,500
1,000
-
-
10,500|-
-
-
-
-|-
-
-
-
-|9,500
1,000
-
-
10,500|9,115
2,000
3,500
500|
|---|---|---|---|---|---|
||||||15,115|
## **Transactions with related parties**
No amounts were paid or are payable to any trustee or to any person connected to them.
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