**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:
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 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
- (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 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...
Page 10
**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