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 2024
FOR
DOWNSIDE SETTLEMENT(THE)
DOWNSIDE SETTLEMENT(THE)
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2024
| 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 2024
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 2024. 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 2024
OBJECTIVES AND ACTIVITIES Summary of activities
Our youth club continues to expand its membership with a total roll of 647 members compared with 558 last year and 441 in 2022. Our current focus is on challenging ourselves to extend the range of activities we run in the evenings. We aim to tie in the young people for as long as we can to ensure we can have an impact on their confidence and social abilities and to do what we need to offer courses that are more appealing than their phones! One example of that is kayaking where we now have two members performing at a national level. We have wonderful facilities that can offer various activities - currently the gym, football, basketball, volleyball and swimming are the most popular
The Fisher Amateur Boxing Club is once again among the premier amateur boxing clubs in London with over 20 carded fighters including national champions. Boxing attracts young people who are not drawn to our other activities. We have seen some wonderful examples of transformational change in our boxers over the years.
We depend on having great youth workers to interact with these young people and get the best out of them. We are currently reorganising the way we work and we hope to implement new software over the next year which will allow us to record attendees and sessional feedback better. We have made some new hires and are planning improved training and career pathways for our staff.
During this year, we have made substantial investments in enhancing our website and social media presence. This initiative has been a high priority for our Trustees and management team, leading to the development of a fully redesigned and refreshed website https://downside-fisher.org. The new website serves as a more effective landing page for those interested in the club, whether they are potential members, funders, or interested in lettings. Consequently, we have observed a steady increase in website traffic, which has positively impacted our membership and letting revenue.
In terms of finances, we are grateful, as ever to our generous donors and have been successful in attracting new donors this year which is an important measure of our effectiveness. Most of our income comes from lettings which we generate ourselves, it is therefore gratifying to note that this is increasing and we plan to make a further effort to drive that in 2025 assisted by the imminent appointment of a new CEO. We are hoping to rebuild some reserves that will give us a buffer of three months' spending, having spent our previous reserves during COVID.
FINANCIAL REVIEW Financial Review
The club has recorded income of £390,476 (2023: £398,996) and expenditure of £427,775 (£510,660). This reduction in cost reflects the significant tighter control of staff costs. 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 leadership team 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 remains to build a small buffer so that we can survive any further unforeseen cost pressures.
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
Three of our former trustees have died in the last year and I would like to offer our thanks to them and prayers for the repose of their souls. Robin Gowlland was involved in the club for decades and had a part in raising the funds for the building we now occupy, which opened in 1974. Chris Dick was chairman from 2003 and under his leadership we were able to completely modernise that building. And Dominic Oughton has been a trustee for the last few years and was instrumental in using his expertise and contacts to ensure the building remained functional. We are extremely fortunate to possess this building and it is fitting to their memories that we will be renovating the whole thing in 2025, with the help of a large grant recently received.
Page 2
DOWNSIDE SETTLEMENT(THE)
REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2024
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 2024
Trustees
Ms T J G Barran Ms K E Boto R H D Coke Chair J N Cotton A J P E De Piro D'Amico Ingu C E P Gerada S C King Ms J Toghill N Woodings W I Kirkpatrick D Oughton
Company Secretary Ms K E Boto
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ 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 2024.
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:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 BSc FCA
Date: .............................................
Page 5
DOWNSIDE SETTLEMENT(THE)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 MARCH 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 151,392 Charitable activities 5 Provision of Recreational Facilities 191,979 Other trading activities 3 78 Investment income 4 711 Total 344,160 EXPENDITURE ON Raising funds 6 883 Charitable activities 7 Provision of Recreational Facilities 248,044 Total 248,927 NET INCOME/(EXPENDITURE) 95,233 Transfers between funds 16 (105,506) Net movement in funds (10,273) RECONCILIATION OF FUNDS Total funds brought forward 317,120 TOTAL FUNDS CARRIED FORWARD 306,847 |
Restricted funds £ 46,316 - - - 46,316 - 178,848 178,848 (132,532) 105,506 (27,026) 55,323 28,297 |
31.3.24 Total funds £ 197,708 191,979 78 711 390,476 883 426,892 427,775 (37,299) - (37,299) 372,443 335,144 |
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 |
|---|---|---|---|
The notes form part of these financial statements
Page 6
DOWNSIDE SETTLEMENT(THE) (REGISTERED NUMBER: 00313105)
BALANCE SHEET 31 MARCH 2024
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 13 306,428 CURRENT ASSETS Debtors 14 18,729 Cash at bank and in hand 2,395 21,124 CREDITORS Amounts falling due within one year 15 (20,706) NET CURRENT ASSETS 418 TOTAL ASSETS LESS CURRENT LIABILITIES 306,846 NET ASSETS 306,846 FUNDS 16 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ - - 28,298 28,298 - 28,298 28,298 28,298 |
31.3.24 Total funds £ 306,428 18,729 30,693 49,422 (20,706) 28,716 335,144 335,144 306,846 28,298 335,144 |
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 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 7
DOWNSIDE SETTLEMENT(THE)
CASH FLOW STATEMENT for the Year Ended 31 MARCH 2024
| 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 |
31.3.24 £ (42,743) (42,743) 711 711 (42,032) 72,725 30,693 |
31.3.23 £ (81,076) (81,076) 186 186 (80,890) 153,615 72,725 |
|---|---|---|
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 2024
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 Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash used in operations |
31.3.24 £ (37,299) 1,672 (711) 1,504 (7,909) (42,743) |
31.3.23 £ (111,664) 24,887 (186) (1,654) 7,541 (81,076) |
|---|---|---|
2. ANALYSIS OF CHANGES IN NET FUNDS
| Net cash | At 1.4.23 £ |
Cash flow £ |
At 31.3.24 £ |
At 31.3.24 £ |
|---|---|---|---|---|
| Cash at bank and in hand | 72,725 | (42,032) | 30,693 | |
| 72,725 | (42,032) | 30,693 | ||
| Total | 72,725 | (42,032) | 30,693 |
The notes form part of these financial statements
Page 9
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2024
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...
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DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
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 guarntee
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 11
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
2. DONATIONS AND LEGACIES
| Donations Gift aid Grants Grants received, included in the above, are as follows: British Canoeing Linda and Gordon Bonnyman Charterhouse in Southwark D & J Hunter Charitable Trust Eleanor Hamilton Educational Trust Joseph Strong Frazer Trust Pen Trust Sir Harold Hood's Charitable Trust The Band Trust The Clover Trust The Mabs Mardulyn Charitable Foundation The Schroder Foundation United St Saviours Charities Other Grants 3. OTHER TRADING ACTIVITIES Other Income 4. INVESTMENT INCOME Deposit account interest |
31.3.24 £ 35,778 3,740 158,190 197,708 31.3.24 £ 11,190 - 10,000 10,000 5,000 1,000 5,000 30,000 45,000 5,500 30,000 - 5,500 - 158,190 31.3.24 £ 78 31.3.24 £ 711 |
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 31.3.23 £ 186 |
|---|---|---|
continued...
Page 12
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
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 Bad debts Club Activities Costs Aggregate amounts 7. CHARITABLE ACTIVITIES COSTS Provision of Recreational Facilities 8. SUPPORT COSTS Provision of Recreational Facilities |
31.3.24 £ 165,630 2,550 23,799 191,979 31.3.24 £ 48 31.3.24 £ 315 520 835 883 Support Direct costs (see Costs note 8) £ £ 417,100 9,792 Governance Finance costs £ £ 632 9,160 |
31.3.23 £ 209,531 2,290 15,801 227,622 31.3.23 £ 288 31.3.23 £ - 1,816 1,816 2,104 Totals £ 426,892 Totals £ 9,792 |
|---|---|---|
continued...
Page 13
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
9. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 31.3.24 | 31.3.23 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,672 | 24,887 |
| 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 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
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 £38,249 (2023: £37,190), employer NI £4,023 (2023: £4,087) and employer pension of £960 (2023: £928).
The aggregate total amount of donations by Trustees to the charity during the year was £4,360 (2023: £3,600).
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 |
31.3.24 £ 244,228 16,577 4,352 265,157 31.3.24 17 |
31.3.23 £ 299,728 18,265 4,249 322,242 31.3.23 18 |
|---|---|---|
No employees received emoluments in excess of £60,000.
continued...
Page 14
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Provision of Recreational Facilities Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Provision of Recreational Facilities Total NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 13. TANGIBLE FIXED ASSETS Improvements Freehold to property property £ £ COST At 1 April 2023 and 31 March 2024 190,000 126,458 DEPRECIATION At 1 April 2023 - 8,358 Charge for year - 1,672 At 31 March 2024 - 10,030 NET BOOK VALUE At 31 March 2024 190,000 116,428 At 31 March 2023 190,000 118,100 |
Unrestricted funds £ 127,815 227,622 197 186 355,820 2,104 407,435 409,539 (53,719) 61,244 7,525 309,595 317,120 Fixtures and fittings £ 120,752 120,752 - 120,752 - - |
Restricted funds £ 43,176 - - - 43,176 - 101,121 101,121 (57,945) (61,244) (119,189) 174,512 55,323 Motor vehicles £ 85,037 85,037 - 85,037 - - |
Total funds £ 170,991 227,622 197 186 398,996 2,104 508,556 510,660 (111,664) - (111,664) 484,107 372,443 Totals £ 522,247 214,147 1,672 215,819 306,428 308,100 |
|
|---|---|---|---|---|
continued...
Page 15
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors Prepayments 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accruals and deferred income Accrued expenses 16. MOVEMENT IN FUNDS Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 211,820 95,232 Revaluation Reserve 29,886 - Designated Fixed Asset Fund 75,414 - 317,120 95,232 Restricted funds Art Fund 1,302 - Brewin Duvollet 4,935 (4,935) Christmas Event - (292) Cookery Course 9,691 (3,572) Jack Petchey Award 3,129 - Lifeguard Training 4,579 (3,120) Outward Bound - (47,777) Senior Citizens Events 375 1,030 Sport Supplies 3,832 - Dance Fund 1,700 - Leyla Music Project 370 (292) Swimming Pool - (2,554) Other Restricted Funds - (4,446) Girls on Gym 9,500 (9,500) Neighbourhood Fund 2,565 (1,000) Sailing Trip 3,345 1,499 Swimming Fund 10,000 (10,000) Social Media - (3,786) Tideways - (24,779) Boxing CLub - (19,007) 55,323 (132,531) TOTAL FUNDS 372,443 (37,299) |
31.3.24 £ 14,069 3,740 920 18,729 31.3.24 £ 12,076 5,324 82 270 2,954 20,706 Transfers between funds £ (105,506) - - (105,506) - - 292 - - - 47,777 - - - - 2,554 4,446 - - - - 4,446 26,984 19,007 105,506 - |
31.3.23 £ 15,480 3,105 1,648 20,233 31.3.23 £ 19,476 5,889 26 270 2,954 28,615 At 31.3.24 £ 201,546 29,886 75,414 306,846 1,302 - - 6,119 3,129 1,459 - 1,405 3,832 1,700 78 - - - 1,565 4,844 - 660 2,205 - 28,298 335,144 |
|---|---|---|
continued...
Page 16
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Brewin Duvollet Christmas Event Cookery Course Lifeguard Training Outward Bound Senior Citizens Events Leyla Music Project Swimming Pool Other Restricted Funds Girls on Gym Neighbourhood Fund Sailing Trip Swimming Fund Social Media Tideways Boxing CLub TOTAL FUNDS |
Incoming resources £ 344,160 - - - - - 2,000 - - - - - 10,304 23,638 8,006 - 2,368 46,316 390,476 |
Resources Movement expended in funds £ £ (248,928) 95,232 (4,935) (4,935) (292) (292) (3,572) (3,572) (3,120) (3,120) (47,777) (47,777) (970) 1,030 (292) (292) (2,554) (2,554) (4,446) (4,446) (9,500) (9,500) (1,000) (1,000) (8,805) 1,499 (33,638) (10,000) (11,792) (3,786) (24,779) (24,779) (21,375) (19,007) (178,847) (132,531) (427,775) (37,299) |
|---|---|---|
continued...
Page 17
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
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 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 18
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
Comparative 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 19
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
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 Leyla Music Project Refurbishment Swimming Pool Other Restricted Funds Neighbourhood Fund Sailing Trip Social Media Tideways Boxing CLub 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 £ 41,513 - - 41,513 - (4,935) 828 (3,856) - - (3,120) (102,476) - 54 - - - - (292) (5,137) (21,987) (8,392) 1,565 4,844 (3,786) (24,779) (19,007) (190,476) (148,963) |
Transfers between funds £ (44,262) - - (44,262) - (2,640) (2,828) - (86,318) - - 102,476 (370) - - (12,873) (4,937) - - (10,986) 3,909 8,392 - - 4,446 26,984 19,007 44,262 - |
At 31.3.24 £ 201,546 29,886 75,414 306,846 1,302 - - 6,119 - 3,129 1,459 - - 1,405 3,832 - - 1,700 78 - - - 1,565 4,844 660 2,205 - 28,298 335,144 |
|---|---|---|---|---|
continued...
Page 20
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
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 Brewin Duvollet Christmas Event Cookery Course Lifeguard Training Outward Bound Senior Citizens Events Leyla Music Project Refurbishment Swimming Pool Other Restricted Funds Girls on Gym Neighbourhood Fund Sailing Trip Swimming Fund Social Media Tideways Boxing CLub TOTAL FUNDS |
Incoming resources £ 699,980 - 5,000 1 - - 2,001 - - - 2,894 9,500 3,780 22,304 33,638 8,006 - 2,368 89,492 789,472 |
Resources Movement expended in funds £ £ (658,467) 41,513 (4,935) (4,935) (4,172) 828 (3,857) (3,856) (3,120) (3,120) (102,476) (102,476) (1,947) 54 (292) (292) (5,137) (5,137) (21,987) (21,987) (11,286) (8,392) (9,500) - (2,215) 1,565 (17,460) 4,844 (33,638) - (11,792) (3,786) (24,779) (24,779) (21,375) (19,007) (279,968) (190,476) (938,435) (148,963) |
|---|---|---|
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.
continued...
Page 21
DOWNSIDE SETTLEMENT(THE)
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2024
16. MOVEMENT IN FUNDS - continued
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
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
Page 22
DOWNSIDE SETTLEMENT(THE)
DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2024
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2024 |
||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 35,778 | 37,742 |
| Gift aid | 3,740 | 3,105 |
| Grants | 158,190 | 130,144 |
| Other trading activities | 197,708 | 170,991 |
| Other Income | 78 | 197 |
| Investment income | ||
| Deposit account interest | 711 | 186 |
| Charitable activities | ||
| Hire of facilities | 165,630 | 209,531 |
| Member/Users Fees | 2,550 | 2,290 |
| Canteen Sales | 23,799 | 15,801 |
| 191,979 | 227,622 | |
| Total incoming resources | 390,476 | 398,996 |
| EXPENDITURE | ||
| Raising donations and legacies | ||
| Other Expenses | 48 | 288 |
| Other trading activities | ||
| Bad debts | 315 | - |
| Club Activities Costs | 520 | 1,816 |
| 835 | 1,816 | |
| Charitable activities | ||
| Wages | 244,228 | 299,728 |
| Social security | 16,577 | 18,265 |
| Pensions | 4,352 | 4,249 |
| Rates and water | 2,142 | 2,030 |
| Insurance | 23,662 | 22,438 |
| Light, Heat and Water | 73,140 | 47,142 |
| Telephone | 8,721 | 6,868 |
| Postage and stationery | 390 | 375 |
| Sundries | 299 | 19,558 |
| Repairs and Maintenance | 34,243 | 36,043 |
| Computer Expenses | 499 | 2,562 |
| Transport Expenses | 3,323 | 3,229 |
| Subscriptions, Licences | 1,285 | 1,086 |
| Carried forward | 412,861 | 463,573 |
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 2024
| for the Year Ended 31 MARCH 2024 | ||
|---|---|---|
| 31.3.24 | 31.3.23 | |
| £ | £ | |
| Charitable activities | ||
| Brought forward | 412,861 | 463,573 |
| Security | 1,674 | 1,557 |
| Staff Expenses | - | 702 |
| Equipment Hire | 893 | 785 |
| Improvements to property | 1,672 | 1,672 |
| Fixtures and fittings | - | 23,215 |
| Support costs | 417,100 | 491,504 |
| Finance | ||
| Bank charges | 632 | 625 |
| Information technology | ||
| Website Design and Build | - | 6,840 |
| Governance costs | ||
| Accountancy and legal fees | 9,160 | 9,587 |
| Total resources expended | 427,775 | 510,660 |
| Net expenditure | (37,299) | (111,664) |
This page does not form part of the statutory financial statements
Page 24