**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 2023**
## **FOR**
**DOWNSIDE SETTLEMENT(THE)**
**DOWNSIDE SETTLEMENT(THE)**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 6|
|**Independent Examiner's Report**|7|
|**Statement of Financial Activities**|8|
|**Balance Sheet**|9|
|**Cash Flow Statement**|10|
|**Notes to the Cash Flow Statement**|11|
|**Notes to the Financial Statements**|12 to 25|
|**Detailed Statement of Financial Activities**|26 to 27|
**DOWNSIDE SETTLEMENT(THE)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023**
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 2023. 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 to 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 2023**
## **OBJECTIVES AND ACTIVITIES**
## **Activities and achievements**
We set ourselves a number of goals last year:
- a programme that would contain age specific activities targeting returning older members.
- re-establish an outward-bound programme which would ideally include at least one short break.
- introduce our own Holiday Activity Program (HAP) for youth members that would supply working parents the comfort of an organised activity during school holidays.
- open four nights a week for members without jeopardising our hiring programme.
- explore and introduce a more diverse program of activities as we continue attract new members and continually grow our member base.
## _Age specific_
We still struggle to attract older teenagers and will continue to work on that in the coming year. We hold a Friday evening fitness gym to give older teenagers an attractive alternative to hanging out on the streets. Following the death of Steve Hiser, our long-standing boxing coach, last year, we have rebuilt the boxing with five volunteer coaches led by Ray Bull and Peter McDonagh. The club is open every evening. This appeals to older teenagers and is a key part of our offering to them.
## _Outward Bound_
We organised a sailing trip during the year. The staff costs make this expensive, but we continue to see enormous benefit to taking young people away from their environment and having the time to mentor them and introduce them to new challenges. We will continue to find ways to do that in 2024.
## _Holiday activity programme_
For the second year we had activities during the summer holidays which enabled young people locally to use our facilities for various activities during the summer holidays at discounted rates. One of the key reasons for domestic poverty is that parents are unable to work due to childcare responsibilities and we hope that we can therefore make an additional contribution to the community in this way.
## _Opening four nights a week_
As of November, the club is now open five evenings a week. This has required investment from the club in staff, but we hope this will make the club more accessible and that we can expand our offering to the young people. Wednesday is a girls only evening, and Friday for 16+.
## _More diverse programme_
The latest programme can be found on our new website: www.downside-fisher.org We will continue to challenge ourselves to expand this. Our current club program for the week includes the Games room, Climbing wall, Badminton, Swimming, Football, Fitness Gym, Arts & Craft, Basketball, Cooking, Girls only fitness gym, and Kayaking. Our staff and volunteers vary their time across the different sessions, ensuring that the young people get the most out of each individual activity. The staff are required to do a nightly evaluation form which collates information such as attendance, how the session went and any feedback from our members. From this feedback we have been able to track the development and progress of our young people as well as have indication of what activities are popular and why. Examples of their feedback is shown below:
Page 2
**DOWNSIDE SETTLEMENT(THE)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023**
## **OBJECTIVES AND ACTIVITIES**
## _Football_
_I really enjoy the Football sessions at Downside side as Winston & Alfie have implemented real yellow and red cards which gives it an authentic feel. I was allowed to referee, and I gave out 5 yellow cards and 1 red card, it was Amazing!!! (GW)_
## _Gym_
_Great session and I felt I learnt a lot. I want to do this twice a week (TR)_
## _Girls Gym_
_I am learning so much and think that it is important to know how someone my age should exercise without weights. (DC)_
_Swimming_
_I love swimming and the lifeguards make it fun by playing games with us (CG)_
_Basketball_
_I am so passionate about Basketball, and I was happy when Phil allowed me to run the session (NI)_
We have been able to expand the use of our popular pool with the help of our supporters. We deliver a rookie lifeguarding courses for our members. We managed to get 3 young people through the program with 1 member becoming a qualified lifeguard. The other 2 members became swimming assistance to the swimming teachers.
We are also delivering a Kayaking project where our young people engage in a 6 to 8 week course. This has been successful with the members, and we have had a few day trips to Brentford and Surrey Dock water sports centre to do some training outside of our swimming pool. We currently have good funding for this project so will continue to recruit and deliver the course into next year.
## **Summary of attendees**
In 2022 we had a membership of approximately 441 members. This year 2023 we had a target of continuing to grow the membership by 20% and to create an activity program that would excite and engage young people. The membership actually grew to 558.
Another target was to attract more young people from the local area of Bermondsey and to only accept young people from outside the borough who either went to school in Bermondsey or were affiliated to a current member. This was to ensure that the money we received from funders went to benefitting the local community as a priority. The graph below shows that we continue largely to serve the local community.
Page 3
**DOWNSIDE SETTLEMENT(THE)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023**
## **OBJECTIVES AND ACTIVITIES**
The other key membership numbers we look at are gender and ethnic background, the statistics for which are shown below:
## **FINANCIAL REVIEW Financial Review**
The club has recorded income of £398,996 (2022: £427,197) and expenditure of £510,660 (£451,665). This increase in cost reflects the significant increase in energy pricing and a decision to invest in a new club manager. We are grateful to a wide variety of donors for what we have been able to achieve during the year. We generate much of our income from letting out the building which we continue to try to increase, most recently with a new plan for generating more income from the pool. The new club manager has been instrumental in driving more structured programmes and additional funding has followed as a result.
At the time of writing our cash position was healthy but we continue to run with very limited reserves following COVID. One of the objectives of the trustees is to build a small buffer so that we can survive such events. One initiative this year is to have a drive to ask supporters to consider a legacy to us in their will.
A number of long serving trustees have stepped down over the year and we are grateful to them. We continue to aim for a group of trustees that has local connections, funding connections and expertise in areas of relevance such as youth work, facilities management or line management. We are lucky with our roster of trustees who are all active in the club and we welcome applications to join our group.
Page 4
**DOWNSIDE SETTLEMENT(THE)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023**
## **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.
## **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).
Page 5
**DOWNSIDE SETTLEMENT(THE)**
## **REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2023**
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number** 00313105 (England and Wales)
**Registered Charity number** 252196
**Registered office** Coxson Place Druid Street London SE1 2EZ
## **Trustees**
Ms T J G Barran Ms K E Boto R H D Coke Chair J N Cotton Ms S Crehan (resigned 1.1.23) A J P E De Piro D'Amico Ingu C E P Gerada S C King Ms J Toghill R D Vale (resigned 1.1.23) Mrs W Wutte (resigned 1.2.23) N Woodings D Cottrell (resigned 1.2.23) W I Kirkpatrick D Oughton
**Company Secretary** Ms K E Boto
## 12/20/2023
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
## Robert Coke
Robert Coke (Dec 20, 2023 11:53 GMT)
........................................................................ R H D Coke - Trustee
Page 6
## **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 2023.
## **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 member of the 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.
Maurice Brindley Maurice Brindley (Dec 21, 2023 12:18 GMT)
Maurice Brindley BSc FCA
## 12/21/2023
Date: .............................................
Page 7
## **DOWNSIDE SETTLEMENT(THE)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MARCH 2023**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
127,815
**Charitable activities**
5
Provision of Recreational Facilities
227,622
Other trading activities
3
197
Investment income
4
186
Other income
-
**Total**
355,820
**EXPENDITURE ON**
Raising funds
6
2,104
**Charitable activities**
7
Provision of Recreational Facilities
407,435
**Total**
409,539
**NET INCOME/(EXPENDITURE)**
(53,719)
**Transfers between funds**
16
61,244
**Net movement in funds**
7,525
**RECONCILIATION OF FUNDS**
Total funds brought forward
309,595
**TOTAL FUNDS CARRIED FORWARD**
317,120|Restricted
funds
£
43,176
-
-
-
-
43,176
-
101,121
101,121
(57,945)
(61,244)
(119,189)
174,512
55,323|31.3.23
Total
funds
£
170,991
227,622
197
186
-
398,996
2,104
508,556
510,660
(111,664)
-
(111,664)
484,107
372,443|31.3.22
Total
funds
£
187,625
179,977
5,142
10
54,443
427,197
2,950
448,715
451,665
(24,468)
-
(24,468)
508,575
484,107|
|---|---|---|---|
The notes form part of these financial statements
Page 8
## **DOWNSIDE SETTLEMENT(THE) (REGISTERED NUMBER: 00313105)**
## **BALANCE SHEET 31 MARCH 2023**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
13
308,100
**CURRENT ASSETS**
Debtors
14
20,233
Cash at bank and in hand
17,402
37,635
**CREDITORS**
Amounts falling due within one year
15
(28,615)
**NET CURRENT ASSETS**
9,020
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
317,120
**NET ASSETS**
317,120
**FUNDS**
16
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
55,323
55,323
-
55,323
55,323
55,323|31.3.23
Total
funds
£
308,100
20,233
72,725
92,958
(28,615)
64,343
372,443
372,443
317,120
55,323
372,443|31.3.22
Total
funds
£
332,987
18,579
153,615
172,194
(21,074)
151,120
484,107
484,107
309,595
174,512
484,107|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R H D Coke - Trustee
The notes form part of these financial statements
Page 9
## **DOWNSIDE SETTLEMENT(THE)**
## **CASH FLOW STATEMENT for the Year Ended 31 MARCH 2023**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash used in operating activities
**Cash flows from investing activities**
Interest received
Net cash provided by investing activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|31.3.23
£
(81,076)
(81,076)
186
186
(80,890)
153,615
72,725|31.3.22
£
(16,189)
(16,189)
10
10
(16,179)
169,794
153,615|
|---|---|---|
The notes form part of these financial statements
Page 10
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 MARCH 2023**
## **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
Interest received
Increase in debtors
Increase/(decrease) in creditors
**Net cash used in operations**|31.3.23
£
(111,664)
24,887
(186)
(1,654)
7,541
(81,076)|31.3.22
£
(24,468)
29,952
(10)
(13,314)
(8,349)
(16,189)|
|---|---|---|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.4.22|Cash flow|At 31.3.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|153,615|(80,890)|72,725|
||153,615|(80,890)|72,725|
|**Total**|153,615|(80,890)|72,725|
The notes form part of these financial statements
Page 11
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2023**
## **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.
continued...
Page 12
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **1. ACCOUNTING POLICIES - continued**
## **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.
## **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 guarantee**
The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £10.
continued...
Page 13
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
|**2.**
**DONATIONS AND LEGACIES**
Donations
Gift aid
Grants
Grants received, included in the above, are as follows:
Linda and Gordon Bonnyman
D & J Hunter Charitable Trust
Eleanor Hamilton Educational Trust
Garfield Weston Foundation
Joseph Strong Frazer Trust
MVM Trust
Newcome Collett Foundation
Pen Trust
Sir Harold Hood's Charitable Trust
Southwark Council
The Clover Trust
The Mabs Mardulyn Charitable Foundation
The Nicholas Winsor Foundation
The Schroder Foundation
United St Saviours Charities
Other Grants
**3.**
**OTHER TRADING ACTIVITIES**
Boxing Dinner Income
Other Income|31.3.23
£
37,742
3,105
130,144
170,991
31.3.23
£
5,000
5,000
4,000
-
1,000
-
-
27,394
30,000
-
6,000
42,000
-
5,000
2,000
2,750
130,144
31.3.23
£
-
197
197|31.3.22
£
24,929
2,967
159,729
187,625
31.3.22
£
-
-
4,000
35,000
1,000
300
1,000
25,000
30,000
24,429
6,000
30,000
300
2,700
-
-
159,729
31.3.22
£
4
5,138
5,142|
|---|---|---|
continued...
Page 14
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
|**4.**
**INVESTMENT INCOME**
Deposit account interest
**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
**6.**
**RAISING FUNDS**
**Raising donations and legacies**
Other Expenses
**Other trading activities**
Club Activities Costs
Aggregate amounts
**7.**
**CHARITABLE ACTIVITIES COSTS**
Direct
Costs
£
Provision of Recreational Facilities
491,504|31.3.23
£
186
31.3.23
£
209,531
2,290
15,801
227,622
31.3.23
£
288
31.3.23
£
1,816
2,104
Support
costs (see
note 8)
£
17,052|31.3.22
£
10
31.3.22
£
177,696
581
1,700
179,977
31.3.22
£
216
31.3.22
£
2,734
2,950
Totals
£
508,556|
|---|---|---|
Page 15
continued...
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **8. SUPPORT COSTS**
|**SUPPORT COSTS**|||||
|---|---|---|---|---|
|||Information|Governance||
||Finance|technology|costs|Totals|
||£|£|£|£|
|Provision of Recreational Facilities|625|6,840|9,587|17,052|
## **9. NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.3.23|31.3.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|24,887|29,951|
|Independent Examination Fee|2,954|2,954|
## **10. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **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 £37,190 (2022: £34,411), employer NI £4,087 (2022: £3,528) and employer pension of £928 (2022: £845).
The aggregate total amount of donations by Trustees to the charity during the year was £3,600 (2022: £2,450).
## **11. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
All staff|31.3.23
£
299,728
18,265
4,249
322,242
31.3.23
18|31.3.22
£
264,569
14,580
3,940|
|---|---|---|
|||283,089|
|||31.3.22
17|
No employees received emoluments in excess of £60,000.
Page 16
continued...
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
|**12.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
174,805
**Charitable activities**
Provision of Recreational Facilities
179,977
Other trading activities
5,142
Investment income
10
Other income
54,443
**Total**
414,377
**EXPENDITURE ON**
Raising funds
2,950
**Charitable activities**
Provision of Recreational Facilities
345,859
**Total**
348,809
**NET INCOME/(EXPENDITURE)**
65,568
**Transfers between funds**
(46,492)
**Net movement in funds**
19,076
**RECONCILIATION OF FUNDS**
Total funds brought forward
290,519
**TOTAL FUNDS CARRIED FORWARD**
309,595
**13.**
**TANGIBLE FIXED ASSETS**
Improvements
Fixtures
Freehold
to
and
property
property
fittings
£
£
£
**COST**
At 1 April 2022 and
31 March 2023
190,000
126,458
120,752
**DEPRECIATION**
At 1 April 2022
-
6,686
97,537
Charge for year
-
1,672
23,215
At 31 March 2023
-
8,358
120,752
**NET BOOK VALUE**
At 31 March 2023
190,000
118,100
-
At 31 March 2022
190,000
119,772
23,215|
Restricted
funds
£
12,820
-
-
-
-
12,820
-
102,856
102,856
(90,036)
46,492
(43,544)
218,056
174,512
Motor
vehicles
£
85,037
85,037
-
85,037
-
-|Total
funds
£
187,625
179,977
5,142
10
54,443
427,197
2,950
448,715
451,665
(24,468)
-
(24,468)
508,575
484,107
Totals
£
522,247
189,260
24,887
214,147
308,100
332,987|
|---|---|---|
continued...
Page 17
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
|**14.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|---|---|---|---|
|||31.3.23|31.3.22|
|||£|£|
||Trade debtors|15,480|14,133|
||Other debtors|3,105|2,967|
||Prepayments|1,648|1,479|
|||20,233|18,579|
|**15.**|**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||
|||31.3.23|31.3.22|
|||£|£|
||Trade creditors|19,476|11,087|
||Social security and other taxes|5,889|6,889|
||Other creditors|26|144|
||Accruals and deferred income|270|-|
||Accrued expenses|2,954|2,954|
|||28,615|21,074|
continued...
Page 18
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. 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
Leyla Music Project
Refurbishment
Swimming Pool
Other Restricted Funds
Girls on Gym
Neighbourhood Fund
Sailing Trip
Swimming Fund
**TOTAL FUNDS**|At 1.4.22
£
204,295
29,886
75,414
309,595
1,302
7,575
2,000
9,975
86,318
3,129
4,579
-
370
1,351
3,832
12,873
4,937
1,700
370
16,123
18,078
-
-
-
-
-
174,512
484,107|Net
movement
in funds
£
(53,719)
-
-
(53,719)
-
-
1,120
(284)
-
-
-
(54,699)
-
(976)
-
-
-
-
-
(5,137)
(19,433)
(3,946)
9,500
2,565
3,345
10,000
(57,945)
(111,664)|Transfers
between
funds
£
61,244
-
-
61,244
-
(2,640)
(3,120)
-
(86,318)
-
-
54,699
(370)
-
-
(12,873)
(4,937)
-
-
(10,986)
1,355
3,946
-
-
-
-
(61,244)
-|At
31.3.23
£
211,820
29,886
75,414
317,120
1,302
4,935
-
9,691
-
3,129
4,579
-
-
375
3,832
-
-
1,700
370
-
-
-
9,500
2,565
3,345
10,000
55,323
372,443|
|---|---|---|---|---|
continued...
Page 19
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Christmas Event
Cookery Course
Outward Bound
Senior Citizens Events
Refurbishment
Swimming Pool
Other Restricted Funds
Girls on Gym
Neighbourhood Fund
Sailing Trip
Swimming Fund
**TOTAL FUNDS**|Incoming
resources
£
355,820
5,000
1
-
1
-
-
2,894
9,500
3,780
12,000
10,000
43,176
398,996|Resources
Movement
expended
in funds
£
£
(409,539)
(53,719)
(3,880)
1,120
(285)
(284)
(54,699)
(54,699)
(977)
(976)
(5,137)
(5,137)
(19,433)
(19,433)
(6,840)
(3,946)
-
9,500
(1,215)
2,565
(8,655)
3,345
-
10,000
(101,121)
(57,945)
(510,660)
(111,664)|
|---|---|---|
continued...
Page 20
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. 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
Refurbishment
Swimming Pool
**TOTAL FUNDS**|At 1.4.21
£
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|Net
movement
in funds
£
65,568
-
-
65,568
(57)
-
640
850
(2,417)
-
-
(45,529)
-
655
-
-
-
-
(20,000)
-
(5,137)
(19,041)
(90,036)
(24,468)|Transfers
between
funds
£
(46,492)
-
-
(46,492)
-
-
-
-
-
-
-
45,529
-
-
-
-
-
-
-
-
-
963
46,492
-|At
31.3.22
£
204,295
29,886
75,414
309,595
1,302
7,575
2,000
9,975
86,318
3,129
4,579
-
370
1,351
3,832
12,873
4,937
1,700
-
370
16,123
18,078
174,512
484,107|
|---|---|---|---|---|
continued...
Page 21
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. 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
Outward Bound
Senior Citizens Events
Evening Youth Club
Refurbishment
Swimming Pool
**TOTAL FUNDS**|Incoming
resources
£
414,377
-
5,000
1,000
4,320
-
2,500
-
-
-
12,820
427,197|Resources
Movement
expended
in funds
£
£
(348,809)
65,568
(57)
(57)
(4,360)
640
(150)
850
(6,737)
(2,417)
(45,529)
(45,529)
(1,845)
655
(20,000)
(20,000)
(5,137)
(5,137)
(19,041)
(19,041)
(102,856)
(90,036)
(451,665)
(24,468)|
|---|---|---|
continued...
Page 22
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. 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
Refurbishment
Swimming Pool
Other Restricted Funds
Girls on Gym
Neighbourhood Fund
Sailing Trip
Swimming Fund
**TOTAL FUNDS**|At 1.4.21
£
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|Net
movement
in funds
£
11,849
-
-
11,849
(57)
-
1,760
566
(2,417)
-
-
(100,228)
-
(321)
-
-
-
-
(20,000)
-
(10,274)
(38,474)
(3,946)
9,500
2,565
3,345
10,000
(147,981)
(136,132)|Transfers
between
funds
£
14,752
-
-
14,752
-
(2,640)
(3,120)
-
(86,318)
-
-
100,228
(370)
-
-
(12,873)
(4,937)
-
-
-
(10,986)
2,318
3,946
-
-
-
-
(14,752)
-|At
31.3.23
£
211,820
29,886
75,414
317,120
1,302
4,935
-
9,691
-
3,129
4,579
-
-
375
3,832
-
-
1,700
-
370
-
-
-
9,500
2,565
3,345
10,000
55,323
372,443|
|---|---|---|---|---|
continued...
Page 23
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. 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
Outward Bound
Senior Citizens Events
Evening Youth Club
Refurbishment
Swimming Pool
Other Restricted Funds
Girls on Gym
Neighbourhood Fund
Sailing Trip
Swimming Fund
**TOTAL FUNDS**|Incoming
resources
£
770,197
-
10,000
1,001
4,320
-
2,501
-
-
-
2,894
9,500
3,780
12,000
10,000
55,996
826,193|Resources
Movement
expended
in funds
£
£
(758,348)
11,849
(57)
(57)
(8,240)
1,760
(435)
566
(6,737)
(2,417)
(100,228)
(100,228)
(2,822)
(321)
(20,000)
(20,000)
(10,274)
(10,274)
(38,474)
(38,474)
(6,840)
(3,946)
-
9,500
(1,215)
2,565
(8,655)
3,345
-
10,000
(203,977)
(147,981)
(962,325)
(136,132)|
|---|---|---|
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 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.
continued...
Page 24
**DOWNSIDE SETTLEMENT(THE)**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2023**
## **16. MOVEMENT IN FUNDS - continued**
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.
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
Page 25
**DOWNSIDE SETTLEMENT(THE)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2023**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**for the Year Ended 31 MARCH 2023**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|37,742|24,929|
|Gift aid|3,105|2,967|
|Grants|130,144|159,729|
||170,991|187,625|
|**Other trading activities**|||
|Boxing Dinner Income|-|4|
|Other Income|197|5,138|
||197|5,142|
|**Investment income**|||
|Deposit account interest|186|10|
|**Charitable activities**|||
|Hire of facilities|209,531|177,696|
|Member/Users Fees|2,290|581|
|Canteen Sales|15,801|1,700|
||227,622|179,977|
|**Other income**|||
|Job Retention Scheme Income|-|54,443|
|**Total incoming resources**|398,996|427,197|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Other Expenses|288|216|
|**Other trading activities**|||
|Club Activities Costs|1,816|2,734|
|**Charitable activities**|||
|Wages|299,728|264,569|
|Social security|18,265|14,580|
|Pensions|4,249|3,940|
|Rates and water|2,030|2,410|
|Insurance|22,438|22,268|
|Light, Heat and Water|47,142|30,065|
|Telephone|6,868|3,726|
|Postage and stationery|375|240|
|Sundries|19,558|7,605|
|Repairs and Maintenance|36,043|49,491|
|Carried forward|456,696|398,894|
This page does not form part of the statutory financial statements
Page 26
## **DOWNSIDE SETTLEMENT(THE)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2023**
|**for the Year Ended 31 MARCH 2023**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**Charitable activities**|||
|Brought forward|456,696|398,894|
|Computer Expenses|2,562|4,797|
|Transport Expenses|3,229|2,850|
|Subscriptions, Licences|1,086|1,076|
|Security|1,557|1,899|
|Staff Expenses|702|20|
|Equipment Hire|785|229|
|Improvements to property|1,672|1,672|
|Fixtures and fittings|23,215|28,280|
||491,504|439,717|
|**Support costs**|||
|**Finance**|||
|Bank charges|625|602|
|**Information technology**|||
|Website Design and Build|6,840|-|
|**Governance costs**|||
|Accountancy and legal fees|9,587|8,396|
|Total resources expended|510,660|451,665|
|**Net expenditure**|(111,664)|(24,468)|
This page does not form part of the statutory financial statements
Page 27