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2021-03-31-accounts

Charity Registration No. 261261

ST. PANCRAS WELFARE TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

ST. PANCRAS WELFARE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Co-optative Trustees

Clive Leverton (Chair) Jill Fraser Charlotte Maizels Joyce Morton Eleanor Sturdy Dan Carrier David Goldesgeyme (Appointed 5 January 2021)

Nominative Trustees - London Borough of Camden

Cllr. Nasim Ali Cllr. Richard Cotton Cllr. Jenny Headlam-Wells

Ex-Officio Trustee

The Mayor of Camden

Secretary to the Trustees Eleanor Sturdy
Charity number 261261
Principal address 212 Eversholt Street
London
NW1 1BD
Postal Address PO Box 51764
London
NW1 1EA
Independent examiner Heywards
2nd Floor
21-22 Great Castle Street
London
WIG 0HZ
Bankers The Co-operative Bank
P.O.Box 101
1 Balloon Street
Manchester
M60 4EP
Investment advisors CCLA
Senator House
85 Queen Victoria House
London
EC4V 4ET

ST. PANCRAS WELFARE TRUST

CONTENTS

Page
Trustees report 1 - 5
Statement of Trustees responsibilities 6
Independent examiner's report 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10 - 16

ST. PANCRAS WELFARE TRUST

TRUSTEES REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees present their report and accounts for the year ended 31 March 20 21 .

The St Pancras Welfare Trust is the umbrella name for two charities established by a scheme of the Charity Commissioners in 1971, namely the St Pancras Relief in Need Charity and the St Pancras Relief in Sickness Charity.

The history of the charity goes back as far as the 16th century when Kentish Town benefactor Eleanor Palmer made a bequest that still funds some of the activities of the Trust today. One trustee of the St Pancras Welfare Trust also serve as trustees of the Estate Charity of Eleanor Palmer, and several distributions per year come into the St Pancras Welfare Trust from the Estate Charity.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's deed , the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016) .

Objectives and activities

The object of the Trust is to distribute available funds to people resident in the area of benefit who are in conditions of need, hardship and distress, or who are sick, convalescent, disabled, handicapped or infirm. The area of benefit is the former Metropolitan Borough of St Pancras, which is a large area within the London Borough of Camden, including many wards with high levels of deprivation. A map of the area of benefit and a list of the streets included can be found at the Trust’s website: www.spwt.info

Rules and Trustees

Under the scheme of the Charity Commissioners in 1971, (modified 2011), the charity shall have 11 Trustees. One shall be the Mayor of the London Borough of Camden for the time being, three shall be nominative Trustees, appointed by the Camden Council, not necessarily Councillors, for a period of four years, and seven shall be co-optative Trustees being persons residing or carrying on business in or near the area of benefit, being the former Metropolitan Borough of St Pancras, who shall be appointed for five years. The day to day management of the charity is vested in the Trustees.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.

ST. PANCRAS WELFARE TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Review of Development, Activities and Achievements

This year saw a decrease in the Trust’s income, which necessitated a reduction in total grant-making to £84,243 (2020: £106,349).

Demand for grants was impacted by the COVID-19 pandemic as social workers and other agencies were working from home and paying fewer visits to local residents. However, as working patterns stabilised, there was a noticeable increase in requests for emergency cash to buy food while residents were waiting for State benefit payments, having lost paid employment.

The number of individual grants decreased from 348 to 315, with over £79,000 (2020: £94,500) being given to individuals in need in the area. The average grant size of £250 (2020: £270) may be small, but the purchase of a new cooker, washing machine or fridge makes a big difference to the quality of life of recipients.

The Trust was unable to make the usual Christmas donations to homeless hostels or families in need in our area of benefit. The Trustees aim to return to these activities as and when the Trust’s income improves.

Grants are primarily made to individuals and the Trustees have a responsibility to ensure that the funds are spent in accordance with the terms of the grant. The processes are in place to ensure that funds reach the right person and to verify that the funds are spent accordingly. They seek feedback from sponsor agencies to identify needs that are not being met and to ensure that their interventions help to relieve poverty and need.

From March 2020, as the global COVID-19 pandemic began, the Trust adapted quickly to electronic grantmaking and increased the speed of grant turnaround to respond quickly to email requests. We provided quick funds to community projects and homeless shelters where residents in isolation needed urgent food or toiletries. All electronic payments are approved by both the Secretary and the Chair for security. We are working closely with our contacts to ensure that funds reach their intended beneficiaries and are spent on the necessary items in a timely way.

A notable project grant was to St Mungo’s homeless hostel where the Trust funded the purchase of two computer terminals and a printer. Since many benefits and welfare processes are conducted online, it is more important than ever for those in homeless hostels to have access to the internet for their employment and accommodation search. The shared computers are fully utilised by many residents in the hostel, which is a better use of funds than supplying individual laptops.

Value Cases supported
Grants to individuals £79,783 315
Project grants £4,460 7
Christmas vouchers £- -
Total £84,243 322

Grant-making to Individuals by Sponsor organisations for the year:

Sponsor Applicant Number
of
cases
Total
of
grants
awarded
% of Total grants
awarded
1 London Borough of Camden 118 £29,730 37%
2 Camden & Islington NHS Trust 23 £5,735 7
3 Camden CAB Service 33 £6,810 9
4 Camden Carers Service 22 £5,824 7
5 St Mungo’s 17 £3,660 5
6 Age UK Camden 9 £1,940 2
7 Others (26 organisations) 93 £26,084 33
315 £79,783 100%

ST. PANCRAS WELFARE TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

As in prior years, six organisations accounted for 70% of our grant-making activity with the largest relationship being London Borough of Camden, as shown in the above table. Within our work with Camden we work with 16 different departments. From March 2020, we now make electronic payments to all sponsor organisations.

During the pandemic, many advisers were unable to facilitate fund transfers and so we made payments direct to some clients, with the additional reassurance of sponsors that funds would be spent appropriately.

Trust fund

The management of the Charity's investments on a day-to-day basis is delegated to its investment advisors, CCLA. The guidelines and benchmarks that have been set down are for both capital growth and income with medium risk.

The Trustees continued to review the performance of the Trust Fund at their regular meetings and in reports from CCLA. All aspects of the investment administration were moved across to CCLA in 2016 and the year to March 2021 saw positive investment returns and good performance in the management of the funds. The fund’s investments yielded income of £31,680 (2020:£31,057) that was used for grant-making as well as the expenses of administration and governance. In the months of the COVID-19 pandemic, investment markets were highly volatile and many experienced falls in value. The managers are adopting a cautious approach and monitoring the situation closely as potential economic damage results from global lockdowns. The Trustees are in regular contact with CCLA, who attend a trustee meeting at least once per year.

Management

Eleanor Sturdy continued in the role of Secretary to the Trustees throughout the year. The online database service continues to allow for all detailed record-keeping and analysis of the grant-making activities. The website was accessed regularly by prospective applicants.

The Trustees continue to make grant decisions by email, outside the formal meetings, in order to respond more quickly to applicants. All decisions are ratified at the next trustee meeting.

The Trust remains a full member of the Association of Charitable Foundations and a registered charity.

The Trust has a Data Protection Policy and a Privacy Policy, and procedures in place to comply fully with all the requirements of the GDPR that came into force from May 2018.

The Chair and Secretary have rationalised all the records to a set of archives and the required 7 years of records for financial reporting and tax requirements. We do not keep client personal information for more than one year and our online database does not hold detailed client personal information. The Trust’s work is conducted from the home office of the Secretary, while the Chairman has very kindly provided storage space for the archive records.

Trustees

One trustee (David Goldesgeyme) was appointed in January 2021. The trustees remain highly committed to the work of the trust. Two formal trustee meetings in May 2020 and November 2020 were held via Zoom link as in person meetings were not permitted.

ST. PANCRAS WELFARE TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

Reserves Policy

The St Pancras Welfare Trust was established in 1971 to manage several ancient parochial charities with histories stretching back to the 16th century. The aim is to provide financial support, in the form of one-off grants for specific purposes, exclusively for people who live in the area of the old Metropolitan Borough of St Pancras who are in need.

The trust property now consists of an endowment fund of approximately £1 million of capital, which is used to generate an income each year in order to meet the demands placed upon it through requests for grants.

Because of the ways the original covenants were set up, the Trustees, when making decisions about how best to meet the requests for grants, must always take into account not only the needs of the present generation, but also those needs that may face future generations.

The Trustees may not distribute the trust property, but invest it with two main aims in mind:

  1. To generate an income to meet the requests for grants,

  2. T o achieve growth on the underlying fund which will increase the amount of income that is available each year for distribution.

The capital is invested in such a way as to balance both the above aims without taking undue investment risk and is kept under review in order to ensure that these aims are met.

Risk management

The Trustees conduct a risk assessment regularly to review the major risks faced by the Trust to ensure that they have a sound knowledge of the charity and are in an informed position regarding its operations. The introduction of the GDPR regulations in May 2018 has prompted a detailed review of the record-keeping and database in order to ensure that the Trust is fully compliant with the new regulations.

Structure, governance and management

The Trustees who served during the year were:

Co-optative Trustees Clive Leverton (Chair) Jill Fraser Charlotte Maizels Joyce Morton Eleanor Sturdy Dan Carrier David Goldesgeyme (Appointed 5 January 2021)

Nominative Trustees - London Borough of Camden Cllr. Nasim Ali Cllr. Richard Cotton Cllr. Jenny Headlam-Wells

Ex-Officio Trustee The Mayor of Camden

ST. PANCRAS WELFARE TRUST

TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

The Trustees r eport was approved by the Board of Trustees.

Clive Leverton (Chair) Trustee Dated: 24 August 2021

ST. PANCRAS WELFARE TRUST

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The Trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ST. PANCRAS WELFARE TRUST

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST. PANCRAS WELFARE TRUST

I report on the financial statements of the Trust for the year ended 31 March 2021, which are set out on pages 8 to 16.

Respective responsibilities of Trustees and examiner

The Trust’s Trustees are responsible for the preparation of the financial statements. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has no w been withdrawn.

I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In connection with my examination, no other matter except that referred to in the previous paragraph has come to my attention:

have not been met or

Paul Samuels Heywards 2nd Floor 21-22 Great Castle Street London WIG 0HZ

Dated: 24 August 2021

ST. PANCRAS WELFARE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Notes
Income and endowments from:
Income from associated charity
3
Investments
4
Individual donations from Winter Fuel allowance campaign
5
Total income
Expenditure on:
Charitable activities
6
Net gains on investments
11
Net movement in funds
Fund balances at 1 April 2020
Fund balances at 31 March 2021		 2021
£
64,000
31,680
100
95,780
112,455
185,749
169,074
914,738
1,083,812		 2020
£
92,500
31,057
27
123,584
130,160
(29,392)
(35,968)
950,706
914,738

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

ST. PANCRAS WELFARE TRUST

BALANCE SHEET

AS AT 31 MARCH 2021

Notes
Fixed assets
Tangible assets
12
Current assets
Investments
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Income funds
Permanent endowment funds - unrestricted		 2021
£
£
-
1,084,634
5,378
1,090,012
(6,200)
1,083,812
1,083,812
1,083,812
1,083,812		 2020
£
£
12
898,886
17,040
915,926
(1,200)
914,726
914,738
914,738
914,738

The accounts were approved by the Trustees on 24 August 2021

Clive Leverton (Chair) Eleanor Sturdy Trustee Trustee

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

St Pancras Welfare Trust is the umbrella name for two charities established by a scheme of the Charity Commissioners in 1971, namely the St Pancras Relief in Need Charity and the St Pancras Relief in Sickness Charity. The Trustees are also responsible for managing the Camelot Trust (260536) established to fund holidays for families with young children.

1.1 Accounting convention

The accounts have been prepared in accordance with the Trust's deed, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the Trust. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

The restricted fund s which were relate d to the Camelot Trust have now been transferred to unrestricted funds. The Trust had been established to fund holidays for families with underprivileged children and was closed during the previous financial year.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Trust.

1.4 Income

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that this settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis under the following headings.

Support costs comprise those costs which are incurred directly in support of expenditure on objects of the charity and include governance costs and office costs. Governance costs are those costs incurred in connection with complying with constitutional and statutory requirements of the charity.

Support costs are allocated based on staff time spent on each area.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment

On a straight line basis over three years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Trust’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

In the application of the Trust’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from associated charity

2021 2020
£ £
Share of income from the Estate Charity of Eleanor Palmer 64,000 92,500

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

4 Investments

Unrestricted Unrestricted
funds funds
2021 2020
£ £
Income from listed investments 31,680 31,057
5 Individual donations from Winter Fuel allowance campaign
2021 2020
£ £
Individual donations from Winter Fuel allowance campaign 100 27
6
Charitable activities
Cost of
generating
funds
Direct
charitable
expenditure
£
£
Depreciation and impairment
12
-
Grant funding of activities (see note 7)
-
84,243
Share of support costs (see note 8)
22,090
-
Share of governance costs (see note 8)
6,110
-
28,212
84,243
Analysis by fund
Unrestricted funds
28,212
84,243
28,212
84,243
For the year ended 31 March 2020
Unrestricted funds
23,811
106,349
23,811
106,349		 Total
2021
£
12
84,243
22,090
6,110
112,455
112,455
112,455		 Total
2020
£
393
106,349
18,378
5,040
130,160
130,160
130,160

7 Grants payable

During the year 3 1 5 grants totalling £ 79,783 were made to individuals and organisations.

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

8 Support costs

Support
costs
Governance
costs
£
£
Office expenses
14,272
-
Telephone
210
-
Postage and stationery
378
-
Secretary's fees
7,230
-
Accountancy
-
1,200
Secretary's fees
-
4,820
Telephone
-
90
22,090
6,110
Analysed between
Charitable activities
22,090
6,110		 2021
£
14,272
210
378
7,230
1,200
4,820
90
28,200
28,200		 2020 Basis of allocation
£
11,956 Total costs
- 70% of costs
662
Total relevant to charitable
giving
5,760 60% of time costs
1,200 Preparation of accounts
3,840 40% of time costs
- 30% of costs
23,418
23,418

Governance costs includes accountan cy fees of £1,200 (2020- £1,200).

9 Trustees

None of the Trustees (or any persons connected with them) received any remuneration during the year. One of the Trustees also acts as secretary and received fees for their secretarial duties.

10 Employees

There were no employees during the year.

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

11
Net gains/(losses) on investments
Revaluation of investments
12
Tangible fixed assets
Cost
At 1 April 2020
Disposals
At 31 March 2021
Depreciation and impairment
At 1 April 2020
Depreciation charged in the year
Eliminated in respect of disposals
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020
13
Financial instruments
Carrying amount of financial assets
Investments measured at fair value through profit or loss
Carrying amount of financial liabilities
Measured at amortised cost
14
Current asset investments
Listed investments		 2021
2020
£
£
185,749
(29,392)
Fixtures, fittings & equipment
£
4,760
(3,580)
1,180
4,748
12
(3,580)
1,180
-
12
2021
2020
£
£
1,084,634
898,886
6,200
1,200
2021
2020
£
£
1,084,634
898,886

ST. PANCRAS WELFARE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

15
Creditors: amounts falling due within one year
Other creditors
Accruals and deferred income		 2021
£
5,000
1,200
6,200		 2020
£
-
1,200
1,200

16 Related party transactions

During the year the charity paid Jackson Sturdy Limited, a company in which one of the Trustees, Eleanor Sturdy, is a director, a total of £ 24,650 (20 20 : £1 9 , 2 00) for office expenses and secretarial services. These expenses are included within support and governance costs (Note 8).