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2021-03-31-accounts

REGISTERED COMPANY NUMBER: 00313105 (England and Wales) REGISTERED CHARITY NUMBER: 252196

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

FOR

DOWNSIDE SETTLEMENT(THE)

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

DOWNSIDE SETTLEMENT(THE)

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 22
Detailed Statement of Financial Activities 23 to 24

DOWNSIDE SETTLEMENT(THE)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Structure, governance and management

Founded in 1908, the Club is a company limited by guarantee with a constitution comprising revised. Articles of Association adopted by a General Meeting of the Downside Settlement on 4 November 2010. It is registered under the Charities Act 2011 (charity registration number: 252196).

The Club was set up as a Boys Club in 1908 by Father Stephen Rawlinson, a monk of Downside Abbey, together with a group of alumni from Downside School. The Fisher Boxing Club was incorporated in 1912 and the Fisher Football Club was created as a separate entity. The Club later included the Worth name, reflecting the foundation of Worth School. The combined Clubs moved to their current premises in 1974.

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Coxon Place, Druid Street, London, SE1 2EZ.

OBJECTIVES AND ACTIVITIES

Objectives

The Charity's objects are specifically restricted to the following:

"to provide and run facilities for recreation and other leisure-time occupations for young persons, in the interests of their social welfare within the meaning of the Recreational Charities Act 1958 as therein limited with the object of improving their condition in life in accordance with the Christian ethos"; and "to undertake research into the special problems arising from the lack of recreational and educational facilities for young persons in Bermondsey and into methods of improving such facilities and to publish and/or implement the results of such research".

The Club's general objects are to promote good citizenship and the physical, social, mental and moral welfare of young people through various activities. The Club continues to support disadvantaged young people from Bermondsey and its neighbouring areas, and helps them to fulfil their potential as capable, confident young adults through a structured programme of sporting, artistic and recreational activities.

Activities

The Club is highly valued in the local community for its role in teaching its members respect and fair play and for broadening their horizons. The Club is located at the heart of a council estate in an area which is above the UK and London averages on measures of poverty as defined by HMRC and as defined by the Department of Education which collect data on the number of children receiving free school meals and the numbers of 16-18 year olds not in education, training or employment. Premises We are very fortunate to have freehold, unencumbered possession of our purpose-built premises. Built in 1974 the premises were refurbished in 2007/8. The premises provide a valuable community resource containing a swimming pool, games room, mirrored dance studio, boxing gym, a sports hall with built-in climbing wall, an open plan reception area with cafeteria, a football roof pitch and a fully equipped training kitchen. Disclosure Barring Service (DBS) checks Under the government's Disclosure Barring Service (formerly Criminal Records Bureau (CRB)) we undertake 'enhanced disclosures' checks for all staff and volunteers. We maintain a comprehensive record of all such checks. The Disclosure and Barring Service helps employers make safe recruitment decisions and prevent unsuitable people from working with vulnerable groups, including children. Christine Annis is our child protection officer.

Public benefit

In planning the activities the Directors have had regard to the guidance on public benefit issued by the Charity Commission.

Page 1

DOWNSIDE SETTLEMENT(THE)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

OBJECTIVES AND ACTIVITIES Chairman's report

The year to March 2021 was totally dominated by the Covid-19 pandemic. We closed in March 2020 when schools did and furloughed most of our staff. We tried to open in the autumn 2020 and then again in January 2021, with all the necessary precautions in place, but in the end the rules were too restrictive and we had to delay. We finally reopened in April 2021 although we have found the young people have been slow in returning. As of September 2021 attendance has picked up to 30 young people per evening, across both the boxing and evening youth club. There is always a seasonal element to this and we hope that as the evenings draw in, attendance will increase.

We have spent the downtime preparing for a much enhanced offering as the young people return. We have started talking to them about what activities would be attractive to their age group and we have made a new senior hire. It is well documented that young people from disadvantaged backgrounds have suffered during the pandemic due to a lack of access to remote learning tools and sometimes difficult home environments. The Government is aware of this and planning to channel resources to help poorer areas catch up and we will monitor this to see where our offering can contribute to this.

The club relies on letting its premises outside club hours for income. This has been virtually non-existent in the year under review, although Government grants and furlough payments have made up much of the shortfall meaning we have managed to retain a cash buffer through the crisis. As furloughing ends, but lettings continue to be at low levels, we face funding issues and trustees are focused on that at the time of writing in September 2021. We hope our new member of staff will help us to increase our donations, but it is likely that our reserves will be much diminished.

As stated, we believe the needs of young people have risen substantially during the pandemic. Our 2022 plan sees us trying to broaden our appeal so that we reach all local young people by devising attractive offerings. Once they are in our building our team are trained to spot those who need our help and to support them. We are lucky with our staff team and our facilities. My thanks go to staff who have endured many months of furlough and we look forward to rebuilding the club together.

FINANCIAL REVIEW

Financial Review

During the year to March 2021 we have attempted to limit our investment in the underlying condition of our building, in order to preserve our reserves to deal with the financial challenges presented by the crisis. We have addressed any critical and safety issues arising during the year and we continue to have a well-equipped building which is expensive to maintain, but is a wonderful asset that we try hard to keep in a reasonable condition.

Our financial position for the year is supported almost entirely by generous donors and by national and local government support funding and we have carefully managed our reserve and liquidity position throughout the year. It is anticipated that this financial position should allow us to navigate the obvious continued risks of the pandemic.

As we move into 2021 we hope to build on our financial position despite the challenges of COVID, however we remain exposed to any further lockdowns, prolonged closure and on how quickly rental income starts to return to pre pandemic levels.

Reserves policy

As a result of ongoing uncertainty of COVID, the Trustees have decided to retain current reserves as cash.

FUTURE PLANS

We are planning to expand our youth club activities in the next year to attract back more young people. We are considering different activities and different ways of communicating with the young people.

We have appointed a new manager and looking at further enhancing the Trustee membership this year in doing so we try to ensure diversity of backgrounds and skills to ensure we can understand and serve our beneficiaries. Most importantly we have a committed and energetic staff who are respected by those who use our club and have improved many lives over the past few decades.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Management structure and reporting

The trustees are responsible for the overall strategy, direction and management of the Club. Day-to- day matters are delegated to the Manager. There is a schedule of matters reserved for trustee approval.

Page 2

DOWNSIDE SETTLEMENT(THE)

REPORT OF THE TRUSTEES for the Year Ended 31 March 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The trustees assess the major risks to which the Club is exposed at each trustees' meeting, in particular those relating to the specific operational and financial aspects of the Club. The trustees have established health and safety and child protection policies to address operational risks. Budgetary and financial reporting disciplines together with controls over key financial systems address the main financial risks facing the Club.

Trustees

The trustees all give their time freely and none have any financial interest in the Club. Under the Club's adopted Articles of Association, the trustees are indemnified from personal liability out of the assets of the Club. If the Charity is wound up or dissolved and, after the satisfaction of all its debts and liabilities, any property remains shall not be paid to or distributed among the members of the Charity but shall be given or transferred to some other charity or charities having objects similar to the charity and which prohibit the distribution of its or their income and property among its or their members to an extent at least as great as is imposed on the Charity by Article 6 chosen by the members of the Charity at or before the time of dissolution and if this is not possible, then to some other charitable object.

During the year the trustees have reviewed their role, the ideal number and composition of the board and procedures for selection and appointment of trustees. Future recruitment of trustees will have regard to the different professional and personal experience and qualities that are needed by the board and also for their common interest and concern for:

The success and future of the Club;

Resources, both staff and physical, of the Club and their adequacy for purpose; The Catholic/Christian foundation of the Club;

The ethos (social, moral, spiritual and cultural elements of the Club); The financial viability and security of the Club; and, The health and safety of the premises, members and staff.

On appointment, new trustees receive a briefing about the Club and its activities by the Chairman and Manager and are provided with information about the responsibilities of trustees. There is currently no formal training programme for trustees, but briefings on specific issues such as health and safety, child protection and risk management form part of trustee meetings.

In considering the structure and membership of the Board, the trustees have due regard to succession planning for the Chairman. The trustees are also conscious that successors need to be identified well in advance of other positions to allow sufficient time for suitable candidates to be identified and recruited. Trustees shall be appointed for a term of two years or (if earlier) until the AGM (if any) held in the second calendar year after the date of their appointment, election or re-election. Upon the expiry of such term, such Trustee shall continue in office for a further such term unless the Trustees resolve otherwise (or in the case of an AGM being held, a resolution to re-elect him is put to the meeting and lost).

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

00313105 (England and Wales)

Registered Charity number

252196

Registered office

Coxson Place Druid Street London SE1 2EZ

Page 3

DOWNSIDE SETTLEMENT(THE)

REPORT OF THE TRUSTEES

for the Year Ended 31 March 2021

Trustees

Ms T J G Barran Ms K E Boto R H D Coke Chair J N Cotton Ms S Crehan A J P E De Piro D'Amico Ingu C E P Gerada M Gregory (resigned 18.6.20) O L Jefferson (resigned 14.12.20) S C King Ms J Toghill R D Vale Mrs W Wutte N Woodings D Cottrell W I Kirkpatrick (appointed 18.6.20)

Company Secretary Mrs W Wutte

Independent Examiner

Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Approved by order of the board of trustees on ............................................. and signed on its behalf by: Jan 12, 2022

Robert Coke Robert Coke (Jan 12, 2022 17:59 GMT)..............................................................................

R H D Coke - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DOWNSIDE SETTLEMENT(THE)

Independent examiner's report to the trustees of Downside Settlement(The) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of Institute of Chartered Accountants in England and Wales which is one of the listed bodies.

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:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across 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 accounts to be reached.

mwbrindley

mwbrindley (Jan 13, 2022 11:50 GMT)

Maurice Brindley BSc FCA

Institute of Chartered Accountants in England and Wales Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH

Jan 13, 2022 Date: .............................................

Page 5

DOWNSIDE SETTLEMENT(THE)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 March 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
178,082
Charitable activities
5
Provision of Recreational Facilities
6,250
Other trading activities
3
7,560
Investment income
4
1,651
Other income
177,058
Total
370,601
EXPENDITURE ON
Raising funds
6
2,651
Charitable activities
7
Provision of Recreational Facilities
305,375
Total
308,026
Net gains/(losses) on investments
2,181
NET INCOME/(EXPENDITURE)
64,756
Transfers between funds
19
(44,113)
Net movement in funds
20,643
RECONCILIATION OF FUNDS
Total funds brought forward
269,875
TOTAL FUNDS CARRIED FORWARD
290,518		 Restricted
funds
£
4,001
-
-
-
-
4,001
-
98,431
98,431
-
(94,430)
44,113
(50,317)
268,374
218,057		 31.3.21
31.3.20
Total
Total
funds
funds
as restated
£
£
182,083
330,036
6,250
224,594
7,560
35,881
1,651
9,862
177,058
-
374,602
600,373
2,651
22,372
403,806
598,008
406,457
620,380
2,181
(58,114)
(29,674)
(78,121)
-
-
(29,674)
(78,121)
538,249
616,370
508,575
538,249		 31.3.21
31.3.20
Total
Total
funds
funds
as restated
£
£
182,083
330,036
6,250
224,594
7,560
35,881
1,651
9,862
177,058
-
374,602
600,373
2,651
22,372
403,806
598,008
406,457
620,380
2,181
(58,114)
(29,674)
(78,121)
-
-
(29,674)
(78,121)
538,249
616,370
508,575
538,249
600,373
22,372
598,008
620,380
(58,114)
(78,121)
-
(78,121)
616,370
538,249

The notes form part of these financial statements

Page 6

DOWNSIDE SETTLEMENT(THE) (REGISTERED NUMBER: 00313105)

BALANCE SHEET

31 March 2021

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
14
232,877
CURRENT ASSETS
Debtors
15
5,265
Investments
16
-
Cash at bank and in hand
81,799
87,064
CREDITORS
Amounts falling due within one year
17
(29,422)
NET CURRENT ASSETS
57,642
TOTAL ASSETS LESS CURRENT LIABILITIES
290,519
NET ASSETS
290,519
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Restricted
funds
£
130,061
-
-
87,995
87,995
-
87,995
218,056
218,056		 31.3.21
Total
funds
as
£
362,938
5,265
-
169,794
175,059
(29,422)
145,637
508,575
508,575
290,519
218,056
508,575		 31.3.20
Total
funds
restated
£
394,842
56,074
103,350
20,973
180,397
(36,990)
143,407
538,249
538,249
269,875
268,374
538,249

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

Jan 12, 2022 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

Robert Coke

Robert Coke (Jan 12, 2022 17:59 GMT) ............................................. R H D Coke - Trustee

The notes form part of these financial statements

Page 7

DOWNSIDE SETTLEMENT(THE)

CASH FLOW STATEMENT for the Year Ended 31 March 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Sale of fixed asset investments
Disposal of investments
Interest received
Net cash provided by/(used in) investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
2
Cash and cash equivalents at the end of the
reporting period
2		 31.3.21
a
£
43,291
43,291
-
2,181
103,349
10
105,540
148,831
20,963
169,794		 31.3.20
s restated
£
17,547
17,547
(92,860)
-
30,000
47
(62,813)
(45,266)
66,229
20,963

The notes form part of these financial statements

Page 8

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 March 2021

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
(Gain)/losses on investments
Interest received
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operations
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand
Notice deposits (less than 3 months)
Overdrafts included in bank loans and overdrafts falling due within one year
Total cash and cash equivalents
3.
ANALYSIS OF CHANGES IN NET FUNDS		 31.3.21
a
£
(29,674)
31,905
(2,181)
(10)
50,809
(7,558)
43,291
31.3.21
a
£
261
169,533
-
169,794		 31.3.20
s restated
£
(78,121)
52,951
58,114
(47)
(25,724)
10,374
17,547
31.3.20
s restated
£
261
20,712
(10)
20,963
At 1.4.20 Cash flow At 31.3.21
£ £ £
Net cash
Cash at bank and in hand 20,973 148,821 169,794
Bank overdraft (10) 10 -
20,963 148,831 169,794
Liquid resources
Deposits included in cash - - -
Current asset investments 103,350 (103,350) -
103,350 (103,350) -
Total 124,313 45,481 169,794

The notes form part of these financial statements

Page 9

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling (£).

Going concern

The accounts have been prepared on a going concern basis, as there are no material uncertainties about the charity's ability to continue. Based on the adequacy of the charity's reserves as at the balance sheet date, along with their knowledge of the charity's ability to meet bills, payments and other liabilities as they fall due, the directors have a reasonable expectation that the charity has sufficient resources to continue in operational existence for the foreseeable future.

Critical accounting judgements and key sources of estimation uncertainty

In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.

Useful economic life of tangible fixed assets:

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Income

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. In cases where it is received for a specific project or activity, this is included within restricted funds. - legacy income is recognised when receipt is probable and entitlement is established.- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. - Contributions in kind are recorded at fair values on the date of contributions. No amounts are included in the financial statements for services donated by volunteers.

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 25% on cost Motor vehicles - 25% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued...

Page 10

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

1. ACCOUNTING POLICIES - continued

Taxation

Debtors

Trade debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

Cash at bank and in hand

Cash at bank and in hand includes current and deposit bank account. The charity has divided its balances across a number of financial institutions in order to mitigate risk.

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are recognised at their settlement.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially settled at transaction value and subsequently measured at their settlement value.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Pensions

The company operates a defined contribution scheme for certain of its employees. Pension contributions are charged as they are paid.

Limited by guarntee

The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £10.

2. DONATIONS AND LEGACIES

Donations
Gift aid
Grants		 31.3.21
a
£
31,623
2,732
147,728
182,083		 31.3.20
s restated
£
33,952
3,424
292,660
330,036

continued...

Page 11

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

2. DONATIONS AND LEGACIES - continued

Grants received, included in the above, are as follows:

Armourers & Brasier's Gauntlet Trust
D & J Hunter Charitable Trust
Downside Abbey
Eleanor Hamilton Educational Trust
GLC Charitable Trust
Groundwork UK
Hobson Charitable Trust
Jack Petchy Foundation
Joseph Strong Frazer Trust
Pen Trust
Sir Harold Hood's Charitable Trust
Southwark Council
Ted Dipple
The Band Trust
The Clover Trust
The Mabs Mardulyn Charitable Foundation
3.
OTHER TRADING ACTIVITIES
Boxing Dinner Income
Other Income
4.
INVESTMENT INCOME
Income from Investment Funds
Deposit account interest		 31.3.21
a
£
1,541
5,000
784
4,000
1,000
-
500
-
500
14,000
30,000
50,403
-
-
5,000
35,000
147,728
31.3.21
a
£
7,043
517
7,560
31.3.21
a
£
1,641
10
1,651		 31.3.20
s restated
£
-
5,000
-
-
-
2,000
-
1,500
-
23,848
30,000
72,312
5,000
125,000
8,000
20,000		 31.3.20
s restated
£
-
5,000
-
-
-
2,000
-
1,500
-
23,848
30,000
72,312
5,000
125,000
8,000
20,000
292,660
31.3.20
s restated
£
28,966
6,915
35,881
31.3.20
s restated
£
9,815
47
9,862
9,862

continued...

Page 12

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

5.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Hire of facilities
Provision of Recreational Facilities
Member/Users Fees
Provision of Recreational Facilities
Canteen Sales
Provision of Recreational Facilities
Fundraising
Provision of Recreational Facilities
6.
RAISING FUNDS
Raising donations and legacies
Boxing Dinner Expenses
Other Expenses
Other trading activities
Club Activities Costs
Aggregate amounts
7.
CHARITABLE ACTIVITIES COSTS
Provision of Recreational Facilities
8.
SUPPORT COSTS
Provision of Recreational Facilities
9.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Independent Examination Fee		 31.3.21
a
£
6,250
-
-
-
6,250
31.3.21
a
£
56
216
272
31.3.21
a
£
2,379
2,651
Support
Direct
costs (see
Costs
note 8)
£
£
394,700
9,106
Governance
Finance
costs
£
£
539
8,567
31.3.21
a
£
31,904
2,954		 31.3.20
s restated
£
206,209
1,646
1,064
15,675
224,594
31.3.20
s restated
£
17,911
216
18,127
31.3.20
s restated
£
4,245
22,372
Totals
£
403,806
Totals
£
9,106
31.3.20
s restated
£
52,951
2,954

continued...

Page 13

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.

Key management

The Trustees consider the role of Key Management to be that of the Centre Manager.

During the year Key Management received gross pay of £35,270 (2020: £35,683), employer NI £3,655 (2020: £3,734) and employer pension of £871 (2020: £291).

No donations were made to the charity (2020: £1,400).

11. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 31.3.21
a
£
243,538
12,049
3,433
259,020		 31.3.20
s restated
£
278,377
20,091
3,680
302,148

The average monthly number of employees during the year was as follows:

31.3.21 31.3.20
as restated
All staff 16 16

No employees received emoluments in excess of £60,000.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
103,375
Charitable activities
Provision of Recreational Facilities
208,933
Other trading activities
35,881
Investment income
9,862
Total
358,051
EXPENDITURE ON
Raising funds
22,372
Charitable activities
Provision of Recreational Facilities
398,733
Total
421,105
Net gains/(losses) on investments
(58,114)
NET INCOME/(EXPENDITURE)
(121,168)		 Restricted
funds
as
£
226,661
15,661
-
-
242,322
-
199,275
199,275
-
43,047		 Total
funds
restated
£
330,036
224,594
35,881
9,862
600,373
22,372
598,008
620,380
(58,114)
(78,121)

continued...

Page 14

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
Transfers between funds
(44,419)
Net movement in funds
(165,587)
RECONCILIATION OF FUNDS
Total funds brought forward
435,461
TOTAL FUNDS CARRIED FORWARD
269,874		 Restricted
funds
as
£
44,419
87,466
180,909
268,375		 Total
funds
restated
£
-
(78,121)
616,370
538,249

13. PRIOR YEAR ADJUSTMENT

In the year ended 31 March 2020 there were £22,388.25 of swimming fees included in income, which should have been deferred since the swimming facilities were closed due to Covid restrictions. The fee income will carry forward into the 2022 financial year where it will be utilised.

14. TANGIBLE FIXED ASSETS

Improvements
Freehold
to
property
property
£
£
COST
At 1 April 2020 and
31 March 2021
190,000
126,458
DEPRECIATION
At 1 April 2020
-
3,343
Charge for year
-
1,672
At 31 March 2021
-
5,015
NET BOOK VALUE
At 31 March 2021
190,000
121,443
At 31 March 2020
190,000
123,115
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments		 Fixtures
and
fittings
£
120,752
40,977
28,280
69,257
51,495
79,775		 Motor
vehicles
£
85,037
83,085
1,952
85,037
-
1,952
31.3.21
a
£
702
2,732
1,831
5,265		 Totals
£
522,247		 Totals
£
522,247
127,405
31,904
159,309
362,938
394,842
31.3.20
s restated
£
9,847
33,424
12,803
56,074
56,074

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Page 15

continued...

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

16.
CURRENT ASSET INVESTMENTS
Listed investments
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 18)
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
Deferred income
18.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts		 31.3.21
£
-
31.3.21
£
-
(731)
4,705
26
3,034
22,388
29,422
31.3.21
£
-		 31.3.20
as restated
£
103,350
31.3.20
as restated
£
10
6,609
4,926
23
3,034
22,388
36,990
31.3.20
as restated
£
10

Page 16

continued...

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

19. MOVEMENT IN FUNDS

Net
movement
At 1.4.20
in funds
£
£
Unrestricted funds
General fund
164,575
64,757
Revaluation Reserve
29,886
-
Designated Fixed Asset Fund
75,414
-
269,875
64,757
Restricted funds
Art Fund
1,359
-
Brewin Duvollet
7,575
-
Christmas Event
1,360
-
Cookery Course
9,125
-
Fitness Gym Project
95,471
(6,736)
Jack Petchey Award
3,129
(1,000)
Lifeguard Training
4,579
-
Outward Bound
-
(43,061)
Presentation Evening
370
-
Senior Citizens Events
696
-
Sport Supplies
3,832
-
Summer Activities
12,873
-
Youth Worker Training
4,937
-
Dance Fund
1,700
-
Evening Youth Club
20,000
-
Leyla Music Project
370
-
Training Fund
(10)
-
Refurbishment
46,774
(25,514)
Swimming Pool
54,234
(18,078)
Other Restricted Funds
-
(42)
268,374
(94,431)
TOTAL FUNDS
538,249
(29,674)
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
370,601
(308,025)
Restricted funds
Fitness Gym Project
1
(6,737)
Jack Petchey Award
-
(1,000)
Outward Bound
-
(43,061)
Refurbishment
-
(25,514)
Swimming Pool
-
(18,078)
Other Restricted Funds
4,000
(4,042)
4,001
(98,432)
TOTAL FUNDS
374,602
(406,457)		 Transfers
between
At
funds
31.3.21
£
£
(44,113)
185,219
-
29,886
-
75,414
(44,113)
290,519
-
1,359
-
7,575
-
1,360
-
9,125
-
88,735
1,000
3,129
-
4,579
43,061
-
-
370
-
696
-
3,832
-
12,873
-
4,937
-
1,700
-
20,000
-
370
10
-
-
21,260
-
36,156
42
-
44,113
218,056
-
508,575
Gains and
Movement
losses
in funds
£
£
2,181
64,757
-
(6,736)
-
(1,000)
-
(43,061)
-
(25,514)
-
(18,078)
-
(42)
-
(94,431)
2,181
(29,674)		 At
31.3.21
£
185,219
29,886
75,414
290,519
1,359
7,575
1,360
9,125
88,735
3,129
4,579
-
370
696
3,832
12,873
4,937
1,700
20,000
370
-
21,260
36,156
-
218,056
508,575
(94,431)
(29,674)

continued...

Page 17

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Revaluation Reserve
Designated Fixed Asset Fund
Restricted funds
Art Fund
Brewin Duvollet
Christmas Event
Cookery Course
Fitness Gym Project
Jack Petchey Award
Lifeguard Training
Outward Bound
Presentation Evening
Senior Citizens Events
Sport Supplies
Summer Activities
Youth Worker Training
Dance Fund
Evening Youth Club
Leyla Music Project
Training Fund
Pen Electrical Work
Refurbishment
Swimming Pool
TOTAL FUNDS		 Net
movement
At 1.4.19
in funds
£
£
330,161
(121,167)
29,886
-
75,414
-
435,461
(121,167)
1,379
(20)
7,575
-
1,797
(437)
10,186
(1,061)
102,208
(6,737)
2,469
660
4,716
(137)
7,269
(51,366)
370
-
206
490
3,832
-
13,305
(432)
4,937
-
300
1,400
20,000
-
370
-
(10)
-
-
(322)
-
46,774
-
54,234
180,909
43,046
616,370
(78,121)		 Transfers
between
funds
£
(44,419)
-
-
(44,419)
-
-
-
-
-
-
-
44,097
-
-
-
-
-
-
-
-
-
322
-
-
44,419
-		 At
31.3.20
£
164,575
29,886
75,414
269,875
1,359
7,575
1,360
9,125
95,471
3,129
4,579
-
370
696
3,832
12,873
4,937
1,700
20,000
370
(10)
-
46,774
54,234
268,374
538,249

continued...

Page 18

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Art Fund
Christmas Event
Cookery Course
Fitness Gym Project
Jack Petchey Award
Lifeguard Training
Outward Bound
Senior Citizens Events
Summer Activities
Youth Worker Training
Dance Fund
Pen Electrical Work
Refurbishment
Swimming Pool
TOTAL FUNDS		 Incoming
resources
£
358,051
-
3,600
-
-
1,500
1
15,175
1,400
-
486
2,000
20,848
125,000
72,312
242,322
600,373		 Resources
expended
£
(421,104)
(20)
(4,037)
(1,061)
(6,737)
(840)
(138)
(66,541)
(910)
(432)
(486)
(600)
(21,170)
(78,226)
(18,078)
(199,276)
(620,380)		 Gains and
Movement
losses
in funds
£
£
(58,114)
(121,167)
-
(20)
-
(437)
-
(1,061)
-
(6,737)
-
660
-
(137)
-
(51,366)
-
490
-
(432)
-
-
-
1,400
-
(322)
-
46,774
-
54,234
-
43,046
(58,114)
(78,121)		 Gains and
Movement
losses
in funds
£
£
(58,114)
(121,167)
-
(20)
-
(437)
-
(1,061)
-
(6,737)
-
660
-
(137)
-
(51,366)
-
490
-
(432)
-
-
-
1,400
-
(322)
-
46,774
-
54,234
-
43,046
(58,114)
(78,121)
43,046
(78,121)

continued...

Page 19

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Revaluation Reserve
Designated Fixed Asset Fund
Restricted funds
Art Fund
Brewin Duvollet
Christmas Event
Cookery Course
Fitness Gym Project
Jack Petchey Award
Lifeguard Training
Outward Bound
Presentation Evening
Senior Citizens Events
Sport Supplies
Summer Activities
Youth Worker Training
Dance Fund
Evening Youth Club
Leyla Music Project
Training Fund
Pen Electrical Work
Refurbishment
Swimming Pool
Other Restricted Funds
TOTAL FUNDS		 Net
movement
At 1.4.19
in funds
£
£
330,161
(56,410)
29,886
-
75,414
-
435,461
(56,410)
1,379
(20)
7,575
-
1,797
(437)
10,186
(1,061)
102,208
(13,473)
2,469
(340)
4,716
(137)
7,269
(94,427)
370
-
206
490
3,832
-
13,305
(432)
4,937
-
300
1,400
20,000
-
370
-
(10)
-
-
(322)
-
21,260
-
36,156
-
(42)
180,909
(51,385)
616,370
(107,795)		 Transfers
between
funds
£
(88,532)
-
-
(88,532)
-
-
-
-
-
1,000
-
87,158
-
-
-
-
-
-
-
-
10
322
-
-
42
88,532
-		 At
31.3.21
£
185,219
29,886
75,414
290,519
1,359
7,575
1,360
9,125
88,735
3,129
4,579
-
370
696
3,832
12,873
4,937
1,700
20,000
370
-
-
21,260
36,156
-
218,056
508,575

continued...

Page 20

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Art Fund
Christmas Event
Cookery Course
Fitness Gym Project
Jack Petchey Award
Lifeguard Training
Outward Bound
Senior Citizens Events
Summer Activities
Youth Worker Training
Dance Fund
Pen Electrical Work
Refurbishment
Swimming Pool
Other Restricted Funds
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
728,652
(729,129)
-
(20)
3,600
(4,037)
-
(1,061)
1
(13,474)
1,500
(1,840)
1
(138)
15,175
(109,602)
1,400
(910)
-
(432)
486
(486)
2,000
(600)
20,848
(21,170)
125,000
(103,740)
72,312
(36,156)
4,000
(4,042)
246,323
(297,708)
974,975
(1,026,837 )		 Gains and
Movement
losses
in funds
£
£
(55,933)
(56,410)
-
(20)
-
(437)
-
(1,061)
-
(13,473)
-
(340)
-
(137)
-
(94,427)
-
490
-
(432)
-
-
-
1,400
-
(322)
-
21,260
-
36,156
-
(42)
-
(51,385)
(55,933)
(107,795)		 Gains and
Movement
losses
in funds
£
£
(55,933)
(56,410)
-
(20)
-
(437)
-
(1,061)
-
(13,473)
-
(340)
-
(137)
-
(94,427)
-
490
-
(432)
-
-
-
1,400
-
(322)
-
21,260
-
36,156
-
(42)
-
(51,385)
(55,933)
(107,795)
(51,385)
(107,795)

Restricted funds are held for the following purposes:

The Art Fund is for the purchase of art supplies.

The Brewin Duvollet fund is for two young people to train as lifeguards.

The Christmas Event fund was for the provision of a Christmas event for the children of the club.

The Cookery Course fund is for the provision of a cookery course by the club for the benefit of its members. The Fitness Gym Project fund was to fully upgrade the gym and repair the floor, the project was completed in the year. The Jack Petchey Award fund is for specific youth club activities selected by Award winners.

The Lifeguard Training fund was for training lifeguards.

The Outdoor Education fund enables young people to avoid undesirable influences and use positively the opportunity of non-scholastic time to expand and develop their skills and experiences.

The Outreach Worker fund is to provide a member of staff with time and resources to help in the community. The Outward Bound fund was for the benefit of young members to aid them in breaking out of the cycle of poverty via a system of learning and activities.

The Presentation Evening fund was for presentation evenings to present members with awards.

The Senior Citizens Events fund was for the provision of a senior citizens afternoon during the year. The Sports Hall repair fund was for the a new snooker table.

Sports Supplies funds are for the purchase of sports equipment.

The Summer Activities fund was for funding activities in the summer including the camp week at Downside School. The Youth Worker Training fund is to train youth worker.

The Dance Fund is to run a series of Dance classes

The Evening Youth Club is to enable the club to open an additional evening during the week. The Leyla Music Project was to hold a one-day music workshop for the children at the club.

The Pen Electrical fund is for replacement of obsolete lighting systems

The Refurbishment fund is for resin floor and boxing gym flooring The Swimming Pool fund is for boiler replacement work The Training Fund is for staff training

continued...

Page 21

DOWNSIDE SETTLEMENT(THE)

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 March 2021

20. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2021.

Page 22

DOWNSIDE SETTLEMENT(THE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2021
31.3.21 31.3.20
as restated
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 31,623 33,952
Gift aid 2,732 3,424
Grants 147,728 292,660
182,083 330,036
Other trading activities
Boxing Dinner Income 7,043 28,966
Other Income 517 6,915
7,560 35,881
Investment income
Income from Investment Funds 1,641 9,815
Deposit account interest 10 47
1,651 9,862
Charitable activities
Hire of facilities 6,250 206,209
Member/Users Fees - 1,646
Canteen Sales - 1,064
Fundraising - 15,675
6,250 224,594
Other income
Job Retention Scheme Income 177,058 -
Total incoming resources 374,602 600,373
EXPENDITURE
Raising donations and legacies
Boxing Dinner Expenses 56 17,911
Other Expenses 216 216
272 18,127
Other trading activities
Club Activities Costs 2,379 4,245
Charitable activities
Wages 243,538 278,377
Social security 12,049 20,091
Pensions 3,433 3,680
Rates and water 3,692 3,640
Insurance 20,789 19,510
Light, Heat and Water 9,162 34,767
Telephone 4,041 6,106
Postage and stationery 208 877
Carried forward 296,912 367,048

This page does not form part of the statutory financial statements

Page 23

DOWNSIDE SETTLEMENT(THE)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 March 2021

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 March 2021
31.3.21 31.3.20
as restated
£ £
Charitable activities
Brought forward 296,912 367,048
Sundries 25,589 118,833
Repairs and Maintenance 30,854 39,449
Computer Expenses 4,110 3,592
Transport Expenses 3,008 1,969
Subscriptions, Licences 190 474
Security 1,925 1,400
Training - 975
Staff Expenses 112 629
Equipment Hire 95 662
Improvements to property 1,672 1,672
Fixtures and fittings 28,280 30,020
Motor vehicles 1,953 21,259
394,700 587,982
Support costs
Finance
Bank charges 539 1,622
Governance costs
Accountancy and legal fees 8,567 8,404
Total resources expended 406,457 620,380
Net expenditure before gains and losses (31,855) (20,007)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments 2,181 -
Realised gains/(losses) on investment property - (58,114)
Net expenditure (29,674) (78,121)

This page does not form part of the statutory financial statements

Page 24

2022-01-13

Final Audit Report

Downside Settlement accounts

Created: 2022-01-11 By: Hewitt Warin (luisa.hewitt@hewittwarin.com) Status: Signed Transaction ID: CBJCHBCAABAAyfDsSOPCIMAoe1JP1-wInat_uVtAnh3e

"Downside Settlement accounts" History

Document created by Hewitt Warin (luisa.hewitt@hewittwarin.com)

2022-01-11 - 12:01:36 GMT- IP address: 82.69.68.83

Document emailed to Robert Coke (r.coke@wellcome.ac.uk) for signature

2022-01-11 - 12:03:09 GMT

Email viewed by Robert Coke (r.coke@wellcome.ac.uk)

2022-01-11 - 13:47:13 GMT- IP address: 86.150.120.192

Document e-signed by Robert Coke (r.coke@wellcome.ac.uk) Signature Date: 2022-01-12 - 17:59:20 GMT - Time Source: server- IP address: 86.156.173.56

Document emailed to mwbrindley (mwb@brindleyjacob.co.uk) for signature 2022-01-12 - 17:59:22 GMT

Email viewed by mwbrindley (mwb@brindleyjacob.co.uk) 2022-01-13 - 11:48:39 GMT- IP address: 92.8.149.69

Document e-signed by mwbrindley (mwb@brindleyjacob.co.uk) Signature Date: 2022-01-13 - 11:50:41 GMT - Time Source: server- IP address: 92.8.149.69

Agreement completed.

2022-01-13 - 11:50:41 GMT