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2021-03-31-accounts

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Company number: 1050006 Charity number: 265103

Cambridge House

Fighting poverty, social inequity and injustice for 132 years

Annual Report and Accounts for the year ended 31 March 2021

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 1 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Contents

Strategic Report Page
Welcome 3
Covid-19 and our response 5
The year at a glance 6
Our aims, objectives and activities 7
Achievements and performance
Overview 8
Research, influencing and thought leadership 10
Calculating our reach 12
Independent Advocacy services 13
Law Centre 14
Safer Renting services 15
Disabled People’s Empowerment services 16
Youth Empowerment services 17
Events after the year end 18
Operational aims and objectives 19
Achieving our priorities in 2020-21 19
Our priorities for 2021-22 19
Financial review
Overview 20
Trustees’ responsibilities 22
Going concern statement 23
Reserves policy 24
Budgeting and financial decision-making 25
Governance and management
Trustees 26
Equality, diversity and inclusion 28
Quality and impact 29
Fundraising 31
Serious incident reporting 31
Safeguarding 32
Networks and partnerships 33
Public benefit 34
Staffing and remuneration 34
Volunteering and employability 36
Risk management 36
Auditors 37
Acknowledgments 38
Charity reference and administrative information 40
Independent Auditor’s Report Page
Opinion 41
Basis for opinion 41
Conclusions relating to going concern 41
Other information 42
Opinions on other matters prescribed by the
Companies Act 2006		 42
Matters on which we are required to report by
exception		 42
Responsibilities of trustees 42
Auditor’s responsibilities for the audit of the
financial statements		 43
Capability of the audit in detecting irregularities 43
Use of our report 44
Financial Statements Page
Statement of financial activities 45
Balance sheet 46
Statement of cash flows 47
Notes to the financial statements 48

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 2 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Strategic Report Welcome

Our roots lie in radical change, in a desire to tackle poverty, social inequity and injustice in the communities we serve. It is testament to the dedication and agility of our staff and volunteers that we maintained all our frontline services and increased our voice and influence throughout 2020-21.

Some of the year’s highlights included:

Covid-19 social distancing restrictions meant that our team primarily worked from home and our frontline services were delivered digitally and face-to-face as restrictions allowed. Our community hub continued to provide office spaces to resident organisations, and the nursery, rehabilitation

clinics and resource distribution activities continued in the building.

Despite the financial, logistical and service demand challenges presented by the pandemic, we successfully managed our resources and achieved further improvements in our overall financial position and liquidity. This stands us in good stead for the future uncertainties posed by Covid-19 recovery, on-going Brexit negotiations and the UK’s economic decline.

As the year progressed we realised that we were at a pivotal point for Cambridge House. We had a real opportunity to focus on the difference we want to make in society and ensure everything we do as an organisation supports with delivering this difference.

We’ve expanded from our Southwark roots into a regional organisation, working in communities across London. Our work is varied and far reaching, from access to justice and protection of rights, to crisis mitigation and resilience building or helping support the development of social policy and practice through our research and influencing.

In terms of the work we do and the communities and people we support, we have come a long way since our inception 132 years ago but our focus on radical change hasn’t wavered.

The need for the work we do is increasing rapidly and its importance is evidenced by the significant social, financial and health inequities highlighted during the pandemic.

As a result, we have to increase our reach and impact, so we can support more people to deal with the crises they face. We must also challenge and tackle the societal problems and barriers that create those crises in the first place.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

During the year, trustees agreed a future strategy (for implementation from 2022-23 to 2026-27) focused on transforming the lives of the people we support and transforming society, so we deal with the issues that affect their lives. What links the two areas is our commitment to putting people with lived experience at the heart of our work.

We can’t do all of this with our current way of working. We want to focus on our core mission of supporting people and pushing for change in policy and practice. We can’t do that as effectively as we want to while managing a building that is increasingly unsuited to who we are and what we do. Resources that could be focused on increasing our reach and impact and on supporting more people, are instead being used to maintain our building. More and more of those resources are being taken up in doing so each year. That doesn’t deliver against our mission, isn’t true to our radical roots and isn’t sustainable.

The impact of Covid-19 has increased the need for the work we do, but it has also demonstrated our adaptability as an organisation and our ability to continue to deliver great support to the communities and people we serve in new ways, without access to our current building.

Our future lies away from our current building – still rooted in Southwark with a physical base in the area and serving our local community, but one that better meets our present and future needs and allows us to focus much more of our resources on delivering against our mission.

We have therefore taken the difficult decision to sell our 1 Addington Square building. This will put us on a much more sustainable financial footing and free us up to focus on our core work of supporting people in crisis and challenging the systems that led them there.

We know this is a big change, one that will affect our staff, the people who use our services and the organisations who currently use our community hub. We will work with everyone who is affected by this to do whatever we can to support them as we go through the process of selling the building and transitioning to the new way of working.

We are enormously proud of the way our team have managed their own pandemic-related anxiety and distress, embraced improvisation and learning, and designed ways to navigate social-distancing restrictions so that our support for our communities was maintained and responsive to changing need. We also give special thanks to Nikki Dawson who served as trustee for 10 years and stood down in March 2021. Nikki’s advice and guidance on marketing and fundraising will be missed.

We are extremely fortunate to have many passionate and committed supporters, staff, volunteers and trustees. Our success is a consequence of their dedication and hard work and we recognise that despite the pandemic’s serious personal consequences for each of them, their commitment hasn’t wavered -we wholeheartedly thank them all.

Simon Latham, Chair Karin Woodley CBE, Chief Executive

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Covid-19 and our response

The pandemic’s impact

Our response

We remained available and responsive by: ▪ Transforming our delivery approaches and support activities to address changing needs and demands. ▪ Mobilising our networks and increasing collaboration with statutory agencies, charities and community groups. ▪ Increasing our influencing, training and knowledge exchange activities for statutory and civil society organisations. ▪ Developing new guidance and support processes for members of our team supporting service users facing severe anxiety and distress.

The pandemic’s impact Our response
The lives of our service users were
disproportionately affected by:
▪
Severe isolation, confusion and fear.
▪
High infection and mortality rates.
▪
Deteriorating health and wellbeing
and increased suicidal ideation.
▪
Growingly precarious employment
and/or housing situations.
▪
Lack of information.
▪
Reduced access to support services.		 We remained available and responsive by:
▪
Transforming our delivery approaches and support activities to
address changing needs and demands.
▪
Mobilising our networks and increasing collaboration with
statutory agencies, charities and community groups.
▪
Increasing our influencing, training and knowledge exchange
activities for statutory and civil society organisations.
▪
Developing new guidance and support processes for members of
our team supporting service users facing severe anxiety and
distress.
Our existing ways of delivering services
were curtailed by social distancing
requirements.		 We embraced innovation and:
▪
Pivoted our delivery models away from venue-based activities to
outreach and online methods, including the provision of IT to
digitally excluded service users in care homes.
▪
Created new ways of meeting both the existing and the new
needs of our service users.
▪
Designed online socialising platforms so that service users could
stay in touch with and support each other safely between
organised activities.
▪
Utilised local parks so that we could provide socially distanced
and in-person wellbeing support including 1:1 mentoring and
conversations, group walks and fitness sessions.
▪
Secured ‘essential service’ status for several of our Disabled
People’s Empowerment Services so that we could reinstate a
range of face-to-face activities.
▪
Implemented additional cleaning and social distancing measures
to maintain delivery of essential services from our community hub
throughout the year.
Our office-based working methods had
to change.		 We adapted our processes by:
▪
Upgrading every member of staff’s IT and equipment to enable
effective home/remote working.
▪
Increasing the digital skills and capacity of our team.
▪
Embracing online communication methods so that we were able
to support the wellbeing of staff while they worked in new ways
and maintain responsive team and governance processes.
▪
Reducing our reliance on paper-based processes by digitising
files and upgrading our use of digital CRM software.
We faced extreme business uncertainty. We addressed very significant reductions in our income generating
potential by:
▪
Securing Covid-19 support from government and charity funders,
including the furlough scheme and dedicated Covid-response
grants.
▪
Maintaining close contact with existing funders and stakeholders
and agreeing changes to the terms of their support when needed.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

The year at a glance

----- Start of picture text -----
Over £196,000
2,263 frontline
secured as
service users
legal
compensation
or redress for
service users
14 community
hub residents Services
reaching delivered in 15
156,281 service local authorities
users
Influencing
An award
and training
winning
activities
research
reaching over
report and
250 people
conference
nationally
Briefings
delivered to
central,
regional and
local
government
----- End of picture text -----

£250K operating surplus

----- Start of picture text -----
Operating Operating
Income
Surplus Expenditure
£2.14m
£250K £1.89m
----- End of picture text -----

79p in every £1 spent on service delivery

----- Start of picture text -----
Fundraising 3p
Delivering services
79p
Overheads and governance
18p
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Our aims, objectives and activities

Vision

We have a vision of a society without poverty where all people are valued, treated equally and lead fulfilling and productive lives.

Values

We are pioneering, inclusive, collaborative and reflective.

Aims and objectives

Transforming lives

Frontline and personalised empowerment, access to justice and resilience-building services in London for families and people living in areas of high deprivation who are:

Transforming society

Our theory of change

----- Start of picture text -----
Personalised frontline services tackling poverty, social inequity and injustice
----- End of picture text -----

----- Start of picture text -----
Local level and lived experience evidence collection and research into 'what
works'
----- End of picture text -----

----- Start of picture text -----
Evidenced-based policy development, thought leadership and influencing
----- End of picture text -----

----- Start of picture text -----
A society without poverty where
all people are valued, treated
equally and lead fulfilling and
productive lives
----- End of picture text -----

History

We were founded in 1889 to support people living in London’s ‘slum’ neighbourhoods. As one of the earliest members of the university settlement movement, our innovative work led the Victorian antipoverty movement, paved the way for the modern welfare state and responded to problems of inequality and social injustice.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Achievements and performance

Overview

2,263 people accessed our frontline services

The number of people who accessed each of our services

----- Start of picture text -----
Statutory Advocacy 1,447
Safer Renting 414
Education and Inclusion 210
Law Centre 192
----- End of picture text -----

We delivered these services in 15 local authorities

County and
Borough Councils
London Boroughs
Barking & Dagenham Kingston upon
Thames		 Richmond upon
Thames		 Waltham Forest Darlington
Haringey Lambeth Southwark Wandsworth Nottinghamshire
Havering Newham Tower Hamlets Westminster West Sussex

62% of our service users were from minoritised (‘Black, Asian or minority ethnic’) communities

----- Start of picture text -----
Minoritised
communities
38%
62%
White British
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

72% of our service users were disabled, live with a mental, behavioural or physical health condition or learn differently

----- Start of picture text -----
Mental Health Condition 34%
Dementia 22%
Learning Disability, Autistic Spectrum or Behaviour
20%
Disorder
Long-term health condition - Neurological 10%
Physical Disability 7%
Multiple conditions 7%
----- End of picture text -----

The ages of our service users

----- Start of picture text -----
85+ 13%
75-84 15%
65-74 9%
55-64 13%
45-54 11%
35-44 13%
25-34 14%
16-24 12%
Ages
----- End of picture text -----

The genders, sexes and sexuality of our service users

----- Start of picture text -----
44%
40%
14%
2%
Female Male LGBTQIA+ Prefer not to say
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Research, influencing and thought leadership

Safer Renting – Protecting tenants from criminal landlords

Journeys in the Shadow Private Rented Sector’ was voted Most Influential Housing Report of 2020 by Inside Housing’s ‘Thinkhouse Review’

Radical Listening – Involving excluded citizens in conversations about social reform

“I have learned about …the kind of listening which specifically sets out to disrupt power imbalances, puts people first rather than organisational structures or ‘ways of doing things’, and results in radical change."

Laura Seebohm of Changing Lives article @ Carnegie UK

We advocated nationally for Radical Listening to be used to reconnect with communities, address complex challenges, tackle unconscious bias, and transform systems through conversational leadership and practice including:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Protecting statutory rights to independent advocacy during the pandemic

The workload and resource impact of Covid-19 on local government, the NHS and care services resulted in less referrals of eligible people to statutory advocacy services across the UK. Our Advocacy Services team responded by providing training through a variety of multisector partnerships and convened meetings with local authority commissioners to analyse the reasons for and address deteriorating support for residents living with mental health and mental capacity conditions.

Protecting the mental health of young people

156,281 people reached by organisations based in our community hub

Our resident organisations

1st Place Children and Play Centre Improving Health Ltd
Britain Has Class Lambeth and Southwark Mind
Brook Young People Leap Confronting Conflict (until May 2020)
Change Grow Live Maintaining Health Partners
Community Southwark SCCD Training
Contact for families with disabled children SDA Independent Living
Elevated Minds CIC United Voices of the World

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Calculating our reach

The number of service users during the year has been calculated by collating the following data:

Using 2019 as a benchmark; the impact of the pandemic on our service user numbers was varied with legal, advocacy and our community hub services seeing numbers fall significantly due to social distancing restrictions and/or changes to court and local authority statutory processes, while our Safer Renting, Education and Inclusion and knowledge exchange activities experienced increased demand as follows:

----- Start of picture text -----
2021 2020 2019
Safer Renting
Knowledge exchange
Education and Inclusion
Independent Advocacy
Law Centre
- 500 1,000 1,500 2,000 2,500
Service user numbers
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Independent advocacy services

Protecting the voices, choices and rights of vulnerable adults and children

We worked with 1,447 service users in line with the requirements of the Mental Health Act 1983, Mental Capacity Act 2005, Care Act 2014 and Deprivation of Liberty Safeguards and Community Treatment Orders.

J’s story

Following brain injury caused by a fall, J was hospitalised and then involuntarily detained with 1:1 supervision in a Residential Neuro Rehabilitation facility under special Covid-19 measures while funding for handover to Local Authority care was agreed.

Our team delivered ‘rights-based’ legal safeguarding services in eleven local authorities with activity distributed by contract and through spot purchasing as follows:

----- Start of picture text -----
33%
24%
21%
11% 11%
Barking & Dagenham Richmond upon Kingston upon Thames Waltham Forest Spot purchasing in
Thames England
----- End of picture text -----

We successfully resolved 98% of issues through the following eight advocacy specialisms:

“I have found the Independent Mental Capacity Advocacy (IMCA) service extremely helpful and supportive in my role representing my father. Both initial and subsequent contact was prompt and comprehensive. The IMCA was reassuring and able to answer any queries I had. She helped explain my role more fully, how the system worked and what help she could offer. I would definitely use the service again and recommend it to others in a similar situation.”

Local resident, Barking and Dagenham

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Law Centre

Enabling people living with complex needs to save their homes, keep their jobs and protect their families

As a Legal Aid Agency accredited provider, we delivered free, independent and expert legal services in housing, employment, discrimination and welfare benefit law to 157 clients supporting 35 dependents and secured over £60,588 in legal compensation or out of court settlements for our clients.

M’s story

M, a kitchen steward with Chronic Fatigue Syndrome and depression, had requested reasonable adjustments, including redeployment, from their employer that had been refused. Subsequently, M was dismissed from work on the basis of a capability assessment.

We supported M by:

Our case work in Southwark and neighbouring boroughs was distributed as follows:

----- Start of picture text -----
Employment (including discrimination) 6%
Welfare Benefits 16%
Housing and homelessness 78%
----- End of picture text -----

The Courts imposed stays on possession and eviction matters during the pandemic which led to a significant reduction in referrals and our fee earning capacity during the year. Nevertheless, housing insecurity and poor conditions remained a significant issue throughout the Capital.

P’s story

P is a young care-leaver and was granted a general needs assured tenancy with no further support.

P’s home was in a state of very serious disrepair including a condemned boiler, damp in the bedroom and bathroom, and defective windows. P had also fallen into rent arrears.

The landlord had brought a possession case against P for the arrears but the case had been delayed by pandemic restrictions on eviction proceedings. During this time the condition of P’s home had continued to deteriorate and become increasingly unsafe and unhealthy.

We prepared a counter claim for disrepair and successfully secured a pre-trial damages settlement of £7,000 plus legal costs and:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Safer Renting services

Making private renting safe for all

We provided advice and support to 208 vulnerable households caring for 206 dependents in 5 London Boroughs and secured over £136,000 in legal compensation or out of court settlements for our clients. To increase tenants’ awareness of their rights, we also published a series of 10 tenancy advice guides.

H’s story

H is a recently separated mother of three. Her family was threatened with eviction. Safer Renting wrote a letter before action, warning the landlord not to evict the family without a court order. Texts from the landlord in response suggested he was likely to proceed with his threat regardless and so the team supported the family to obtain an expartes injunction against the landlord to block his threat. However, the landlord had concealed his address and so H was unable to send him the injunction. He came to their house with a friend at 11pm on a Friday night and forced his way in, armed with an electric drill and crowbar. H tried giving the landlord a copy of the injunction at that point: he screwed it up and H was kicked in the stomach during the physical assault that followed. Terrified by the violence, H’s 8-year-old son screamed for help at the window, which was answered by several neighbours. They called the police and attempted to restrain the landlord. The police arrived. H gave the police a copy of the injunction and asked that they enforce it.

The police then took a statement from the landlord who claimed that he had been the victim of an assault. The police arrested the neighbours and the landlord, but released the landlord soon afterwards, keeping the neighbours in custody overnight. H was terrified to see the landlord retrieving his tools from outside their home in the small hours of the morning, knowing the people that had come to protect her family were in custody.

Safer Renting were called the next morning. They were unable to get through to the custody suite by telephone and went in person and explained the background to the case to the police and to establish their duty to enforce the injunction against the landlord. The police officer on shift duty undertook to review the case. The neighbours were released from custody on bail that afternoon. However the case was not reviewed; an investigation was finally undertaken a year later, at which point it was decided not to prosecute the neighbours.

Safer Renting referred the case to a housing solicitor who brought a successful claim for £25,000 damages against the landlord who, it was said by the presiding judge, “had lied and lied and lied.” No police prosecution was ever taken against the landlord.

We achieved the following outcomes for our service users:

----- Start of picture text -----
Averted threats to tenancies 31%
Secured civil redress claims against landlords 33%
Supported tenants to self-advocate 36%
----- End of picture text -----

Service user feedback:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Disabled People’s Empowerment services

Enabling disabled children and adults to take control of their lives and futures

We build the skills and resilience of children and adults living with profound learning disabilities and complex needs through a varied portfolio of services, which also provide essential respite for their parents and carers:

The distribution of service users was a follows:

----- Start of picture text -----
SENsational Sports
SuperTeens Art Club
----- End of picture text -----

Camberwell Incredibles and Super Saturdays Arts Clubs

----- Start of picture text -----
17%
29%
54%
----- End of picture text -----

Normal service delivery was very significantly curtailed by the pandemic’s social distancing restrictions. Given lockdown’s disproportionately severe impact on our 35 service users and their parents and carers – particularly their health, wellbeing and social isolation, we provided:

Reintroducing face-to-face activities

In September 2020, Southwark Council recognised Camberwell Incredibles and Super Saturdays Arts Clubs as essential support services and we were able to reinstate the clubs in our building.

In February 2021, though our normal sports venues remained closed, Spa School in Camberwell gave us access to their sports hall and we began to provide weekly sessions in dance, circuit training, music and relaxation techniques to our SENSports participants.

K’s story

K has been affected by shielding throughout the pandemic and more recently, after returning to in-person and group sessions in our community hub, by ill health, surgery and possible cancer treatment. This will mean that he is unlikely to be able to return to Cambridge House any time soon. However, throughout this whole period since the beginning of the pandemic K has been a keen participant of Zoom sessions – often turning up early with pre-prepared ideas and work ready and raring to go. His concentration span seems to have improved from these sessions and they have given him a more central voice in the group. He has been stoical in not letting his shielding restrictions or ill health get in the way of his friendships and prominent role in the group.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Youth Empowerment services

Investing in young people so they thrive as adults

Our RISE team designed online materials and activities, including an online platform for sharing

information and resources to 40 young people aged 16 to 24 years. This represents a 60% increase in the number of participants.

1:1 sessions and group workshops were successfully adapted to online and ‘Covid-safe’ outdoor spaces.

“I appreciate you guys listening to me, being welcoming and making me feel comfortable and secure enough to show my emotions. I am excited for the next meeting and will be sure to contact you if needed. Thank you both once again x.”

Young Person via WhatsApp following her initial Zoom mentoring session

Increases in demand primarily due to increased referrals from schools, Child and Adolescent Mental Health Services (CAMHS) and Social Services meant recruitment for our 2021 cohort exceeded our target by 213%.

We were often the only source of support our young people could access during Covid-19 restrictions, so we increased the number of 1:1 activities by 198% to help them deal with crises exacerbated by the pandemic.

While there were obvious downsides to the service being delivered remotely, we found that many young people appreciated being able to access support without having to leave their home and this gave them more flexibility to access the service.

X’s story

X lives in supported accommodation having recently come out of an abusive relationship that had resulted in her being hospitalised. X was referred to our RISE service by her social worker. During initial conversations with us using Zoom, X’s struggle with confidence and self-esteem was evident and she attributed this to her experience of unhealthy family relationships.

We supported X to improve her sense of self-worth by:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Events after the year end

Building sale

May 2021

We publicly announced our intention to sell our building at 1 Addington Square and implemented a communications strategy to engage all our internal and external stakeholders in discussions about our future plans and their needs and concerns.

November 2021

Our property was marketed for sale with a marketing valuation of £4.5M.

March 2022

Law Centre

The Law Centre was awarded a Legal Aid Agency contract to provide housing and debt advice in North Hertfordshire from 1 April 2021.

Safer Renting

Safer Renting was invited to work up a proposal for a two-year action research partnership with Urban Impact Health and Guy’s and St Thomas Foundation to test ways to reduce housinginduced health conditions to commence during 2022-23.

Leadership

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Operational aims and objectives

We continued to implement our 2017 - 2022 Strategic Plan objectives which are to:

Achieving our priorities in 2020-21
Delivering positive impact for individuals, families and communities facing severe and complex
needs by:
Digitally delivering services in response to Covid-19 social distancing restrictions. Successful
Participating in Covid-19 response and recovery networks and activities. Successful
Reviewing our service user engagement strategy to address Covid-19 recovery
Successful
needs.
Updating our feedback and complaints policy. Successful
Enhancing organisational capacity, resilience and sustainability by:
Implementing a Covid-19 emergency response plan. Successful
Reviewing corporate strategy in response to Covid-19 recovery and other needs. Successful
Updating internal IT systems and equipment. Successful
Reviewing our staff remuneration policy. Successful
Agreeing a risk appetite statement to complement our risk register. Successful
Reviewing our trustee performance review policy. Successful

Our priorities for 2021-22

Delivering positive impact for individuals, families and communities facing severe and complex needs by:

Delivering services in response to Covid-19 restrictions and the recovery needs of service users.

Participating in Covid-19 response and recovery networks and activities.

Agreeing a 5-year corporate strategy for the period 2022-23 to 2026-27.

Enhancing organisational capacity, resilience and sustainability by:

Marketing our building at 1 Addington Square for sale.

Agreeing financial forecasts for 2022-23 to 2024-25. Agreeing interim office and service delivery accommodation for 2022-23. Completing a review of the organisation’s policy frameworks.

Reviewing our Governance Manual to reflect the updated Charity Governance Code.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Financial review

Overview

Our financial position improved significantly during the year. This is a major achievement given the uncertain economic climate and the impact of Covid-19 on all areas of our operation. We enhanced our financial resilience and sustainability by:

Total Income £2.14m

Earned income £1,279,190

Charitable income £442,272

Public sector grants £304,283

Job Retention Scheme Grants £115,498

----- Start of picture text -----
5%
14%
60%
21%
----- End of picture text -----

Total Operating Expenditure £1.89m

----- Start of picture text -----
8%
16%
13%
63%
----- End of picture text -----

Direct cost of services £300,323

Direct delivery staffing costs £1,185,893

Core staffing costs £247,155

Overheads £159,218

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Income

During the year, our total income increased by £191,093 (10%) to £2,141,243 (£1,950,150 in 2020). A 110% rise in grants and donations to £862,053 (£408,934 in 2020) was the most significant change with £327,753 being statutory Covid-19 support grants (including £115,498 from the Job Retention Scheme). Earned income remained our greatest source of income despite it reducing by 17% to £1,279,190 due to Covid-19 impacts on all sources (£1,541,215 in 2020).

Changes in income during the year

----- Start of picture text -----
Legal fees (less £118K)
-42%
Community hub fees (less
-29% £145K)
-7% Education fees (less £5K)
1%
Statutory contracts and spot
purchasing (plus £6K)
90%
Grants and donations (plus
£453K)
----- End of picture text -----

Earned income distribution

----- Start of picture text -----
£700,000
Statutory contracts and spot
purchasing
£600,000
£500,000
Community hub fees
£400,000
£300,000
Legal fees
£200,000
£100,000
Education fees
£0
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Expenditure

Our total expenditure for the year was £2,048,562 (£1,911,963 in 2020 ). It comprised operating expenditure of £1,892,589 (£1,756,351 in 2020), and non-operating expenditure (i.e., depreciation) of £155,975 (£155,612 in 2020).

Staffing remained our largest cost at £1,433,048 i.e., 76% of operating expenditure (78% in 2020). £1,185,893 (83%) of the staffing costs related to the direct delivery of services and reflects the people intensive nature of our frontline services and their reliance on high service user to staff ratios.

Increases in expenditure were incurred to fulfil the Covid-19 social distancing and cleaning requirements of the community hub, and overhead costs associated with the remote working needs of our staff.

All services increased expenditure on frontline services in response to increased income from grants and fees except the Law Centre where the Covid-19 impact on the civil justice system, particularly the stay on possession hearings, reduced earned income and therefore expenditure.

Direct service expenditure

Advocacy Education and
Inclusion		 Community Hub Law Centre Safer Renting
2021 £425,988 £170,933 £434,144 £217,056 £238,235
2020 £396,661 £167,777 £505,273 £268,831 £207,432

Trustees’ responsibilities

As trustees we are also the directors of Cambridge House for company law purposes. We are responsible for preparing this Annual Report and the Financial Statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires us to prepare annual financial statements which give a true and fair view of the state of Cambridge House’s affairs, including our incoming resources and their application, and net income or expenditure. In preparing our financial statements, we are required to:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of Cambridge House and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as we are aware:

Trustees are also responsible for the maintenance and integrity of the corporate and financial information included on our website.

We note that, legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from the legislations in other jurisdictions.

Going concern statement

Trustees are of the view that Cambridge House remains a going concern and that we will have adequate resources available to meet our obligations for at least twelve months from the date of approving these accounts.

Continued improvement in our financial position

----- Start of picture text -----
£300,000
2021 £250,000
£200,000
£150,000
2020 £100,000
£50,000
£0
2019 Operating surplus Gross surplus/(deficit)
(£50,000)
(£100,000)
----- End of picture text -----

In reaching this view, our Council have considered the following:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Reserves policy

In August 2020, trustees updated our reserves policy to ensure that it is aligned to Cambridge House’s 2017-2022 Strategic Plan, and we build readily realisable reserves to a level that supports:

Continuity Planning

Asset Management

Service Innovation and Development

Having drawn from reserves in previous years to finance the building repair and extension programme, exploit opportunities to grow and deliver Cambridge House’s charitable objectives and implement a business turnaround plan, trustees recognise that the current level of reserves is considerably below the desired amount. At the end of the year, we held free reserves of £234,254. This is an improvement on the previous year’s negative £14,400 and further indication of our improving overall financial position.

Our strategy to address risks associated with this lack of reserves is outlined in the Going Concern statement above.

To address long-term financial sustainability, trustees have set the following liquid reserve targets based on an assessment of the risks and opportunities facing Cambridge House, and the current and future needs of our service users:

Year Target Purpose
31 03 2023 £514,000 27% of annual expenditure to provide for Continuity Planning.
31 03 2024 £628,000 33% of annual expenditure to provide for Continuity Planning and Asset Management.
38% of annual expenditure, to provide for Continuity Planning, Asset Management, and
31 03 2026 £723,000
Service Innovation and Development.

We review the target level of reserves on an annual basis alongside the operating budget. The assessment takes account of income and expenditure risk within the budget, commitments to repay the loan secured on the building, and the need for sufficient liquidity to manage the day-to-day fluctuations in our receipts and payments.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Budgeting and financial decision-making

We prepare annual budgets for all activities and carefully monitor performance against these to ensure that any activity operating at a deficit and/or behind budget is carefully supervised, and opportunities are taken to mitigate risks and increase unrestricted funds. We use a cloud-based accountancy package that connects to our bank accounts and facilitates real-time scrutiny by trustee bank signatories and staff with profit and loss accountabilities.

Trustees have a Business Continuity and Disaster Recovery Plan and a Financial Emergency Response Plan to protect the interests of our service users, employees, trustees, creditors and stakeholders by outlining the steps that can be taken to avoid and/or manage crises.

A meeting schedule detailing priorities and regulatory deadlines for the Council of Management is published at least 12-months in advance and ensures trustees consider, monitor and approve our:

The Council’s Finance Subcommittee considers financial reports each month and meets at least 3 times each year to ensure:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Governance and management

Cambridge House and Talbot Limited is a registered charity (registration number 265103) and is constituted as a company registered in England and Wales and limited by guarantee (registration number 1050006). The company does not have share capital and is limited by the guarantee of the members to a maximum of £1 each. In line with the requirements of GDPR, we reviewed our company membership and the total number of such guarantees (i.e., our company members) at the year-end was 21 (2020– 21). The organisation’s objects and powers are set out in the Articles of Association.

Cambridge House owns the whole of the issued ordinary share capital of Enterprise at Cambridge House Limited, a company registered in England and Wales. The subsidiary was used for non-primary purpose trading activities and ceased to trade during 2013-2014.

Trustees

Cambridge House is governed by the charity’s trustees, who are also the company's directors and are collectively called the Council of Management (the Council). The members of the Council are elected at the company's annual general meeting.

Our Council meets a minimum of six times per year to manage the business of the organisation. It has appointed subcommittees to operate with delegated responsibilities:

Our Council's governance structure is set out in our Governance Manual, which includes our code of governance and enshrines a clear distinction between the role of trustees, the Council, and the Chief Executive. Trustees concentrate on strategic matters, setting overall direction, ensuring clear organisational objectives and holding the Chief Executive to account. This is effected through reporting, both on performance and strategic matters, and formal appraisal of the Chief Executive’s performance. The delegated responsibilities and accountabilities of the Chief Executive are set out in our Governance Manual and in their job description.

Trustees have reserved certain powers, which only they can exercise. These include those statutory powers that cannot be delegated, such as policies on risk and reserves, and decisions linked to major policy or programme initiatives, strategic planning, and changes to organisational structure.

Trustee recruitment, induction and training

Our Council completes skills audits to assess the skills of the existing trustees, identify ‘skills gaps’ and assess any skills being lost by the retirement of a trustee. New trustees are recruited through external advertising, volunteer bureaux, and direct approaches to professional bodies and other voluntary organisations.

The induction process for new trustees is detailed in the Governance Manual and is designed to acquaint them with our purposes, financial position, work programmes, structure, staff and current issues. To ensure continued development, trustees are offered the opportunity to attend training on key areas, such as financial reporting and strategic planning.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Trustee performance review

We reviewed our processes for evaluating trustee performance during the year and conducted individual annual reviews for each member of our Council. Following the review process the Council agreed to:

Trustee terms of appointment

Each year the nearest in number to one third of the elected members of the Council stand down at the annual general meeting and are eligible for re-election. At 31 March 2021 the trustees had served for the following terms:

Role Name Length of service in current role
Chair Simon Latham 2 years, 3 months
Vice Chair David Coleman 2 years, 3 months
Company Secretary Clarissa Lyons 3 years
Treasurer David Goode 2 years, 6 months
Trustee Nikki Dawson 10 years (retired March 2021)
Trustee Amy Fraser 1 year
Trustee Anu Mensah 1 year
Trustee Fiona Shaw 1 year, 1 month
Trustee Shveta Shah 14 years
Trustee Stephanie Tidball 3 years

After the year end the Council agreed to implement in 2022, subject to applicable provisions in the Articles of Association relating to election and re-election, the following changes to the appointment terms of trustees:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Equality, diversity and inclusion

Equality, diversity and inclusion are core values of Cambridge House and we believe that:

To this end, we establish credibility and legitimacy, and build our experiential knowledge by working to ensure our service users ‘see themselves’ reflected throughout our organisation.

Our Equality, Diversity and Inclusion Policy includes an action plan with specific inclusion targets that are monitored annually by the Council. The plan also sets out:

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The % of our team who share lived experiences with our service users
Inclusion target 33%
Trustees 33%
Leadership 100%
Heads of Service 50%
Staff 80%
The % of women on our team
Inclusion target 50%
Trustees 67%
Leadership 67%
Heads of Service 75%
Staff 52%
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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

The % of our team who live with a mental or physical health condition, learn differently, or are disabled Inclusion target 14%

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Trustees 22%
Leadership 100%
Heads of Service 75%
Staff 48%
% of our team from LGBTQIA+ communities
Inclusion target 6%
Trustees 0%
Leadership 0%
Heads of Service 25%
Staff 7%
The % of our team from minoritised communities
Inclusion target 43%
Trustees 22%
Leadership 100%
Heads of Service 25%
Staff 41%
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Quality and impact

We strive to find solutions to identifiable problems in the communities with which we work. Actual and potential service user needs, as well as gaps in service provision, are identified through:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

In addition to confirming that all activities contribute to the delivery of our vision, we secure impact by ensuring that we have:

Evidencing quality and impact

Our theory of change identifies the causal links between what we do and what we are trying to achieve. It also provides the theoretical framework to help us assess whether what we do is working as planned and how it can be improved. Quantitative and qualitative methods of collecting outcomes and outputs, including feedback from and consultation with service users and stakeholders, enable us to evidence impact. Accredited quality assurance and impact measurement schemes covering all areas of our work, ensure our impact is externally audited and verified.

Legal services

Our Law Centre has been awarded Centre of Excellence status by the London Legal Support Trust and is accredited by Lexcel, the Law Society's annually audited legal practice quality mark for excellence in legal practice management and excellence in client care.

Advocacy services

Our independent advocacy services are accredited by th Advocacy Quality Performance Mark (QPM) which works in conjunction with the Advocacy Code of Practice to enable providers to demonstrate how they are meeting the different standards set out in the code.

Safer Renting services

Our work supporting the private tenants of ‘criminal landlords’ is accredited by the Advice Quality Standard by the Advice Service Alliance.

Youth Empowerment and Disabled People’s Empowerment services

The evaluation systems and impact measures for our empowerment activities have London Youth Quality Mark and Project Oracle accreditation. We also use accredited Outcomes Stars to monitor service users’ progress towards their personal development goals.

Governance

We are organisational members of the Chartered Institute of Fundraising and have Positive about Disability, Mindful Employer, London Living Wage Employer and Cyber Essentials quality marks.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Fundraising

We rely on fundraising to support all our work and it is important to us that everyone who engages with us has a positive experience. We work diligently to comply with the Fundraising Regulator’s Fundraising Code of Practice, and to ensure that we fundraise in a respectful and compelling way that is consistent with our values.

Fundraising activity is carried out in accordance with our Ethical Fundraising and Data Protection Policies to ensure legal and regulatory compliance. They are reviewed regularly to ensure they also reflect best practice.

We are an organisational member of the Chartered Institute of Fundraising and have a published fundraising pledge to donors. Our Ethical Fundraising Policy governs our interactions with third parties, including, but not limited to, corporate and individual donors, local and national governments, other charities and public-sector agencies.

Our fundraising activities and compliance with regulations and best practice are scrutinised by our Council of Management and its Finance Subcommittee. No fundraising complaints have been received.

The Chief Executive and our Fundraising and Development Officers are our primary fundraisers. They are required to demonstrate an understanding of the Fundraising Regulator’s Fundraising Code of Practice and make a commitment to uphold its values when they join Cambridge House. We do not engage any third-party fundraisers.

Our relationship with supporters

Serious incident reporting

We have procedures for the reporting of serious incidents to the Charity Commission in accordance with the statutory requirement under section 169 of the Charities Act 2011. Trustees confirm that there were no serious incidents or other matters relating to Cambridge House and Talbot Limited during the year that should have been brought to the attention of the Charity Commission.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Safeguarding

Trustees recognise that being safe and free of abuse is central to ensuring the continued promotion of a person’s wellbeing. In this spirit, as outlined in the ‘making safeguarding personal’ initiative and the Care Act 2014, we have policies and procedures in place to enable us to respond to all concerns of abuse appropriately, operating in line with the Pan London Multi-Agency Safeguarding Policy.

Our own policies and procedures for children and vulnerable adults were reviewed and updated during the year. Our trustee safeguarding lead is Shveta Shah, and our executive leads are the Chief Executive and the Heads of Service for Independent Advocacy and Education and Inclusion.

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Changes to their Care Plan 28%
Referral to the NHS 19%
Implementation of a statutory safeguarding process or a
48%
Lasting Power of Attorney review
Referral to a 21A Deprivation of Liberty Safeguard hearing in
5%
the Court of Protection
----- End of picture text -----

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Networks and partnerships

We are firmly ‘outward looking’ and work collaboratively with a diversity of voluntary, community, private and public-sector partners to deliver services and exchange knowledge and information. Colocation with, and acting as a landlord to other voluntary and community sector organisations in Cambridge House is another important element of this stance.

During the year, we remained members of:

Community Southwark, the umbrella body for the voluntary and community sector, volunteers and social action in Southwark. Our Chief Executive was Vice Chair of their Board of Trustees until December 2021.

The Global Social Economy Forum (GSEF), an international association that brings together local governments and civil society stakeholders committed to supporting the development of the social economy. Our Chief Executive was a member of their founding advisory committee.

Healthwatch Southwark, a consumer network established because of the health and social care reforms of 2012 to champion the views of local people who use health and social care services in Southwark. Our Chief Executive was a member of its Advisory Group until August 2020.

The Chartered Institute of Fundraising, the professional membership body for UK fundraising.

The International Federation of Settlements and Neighbourhood Centres, an association of national, regional and local organisations working to strengthen communities around the world.

London Youth, a network of diverse community youth organisations serving young people across London.

Locality, whose stated objective is to develop a network of ambitious and enterprising community-led organisations with a strong, collective voice and to inspire community action so that every neighbourhood thrives. Our Chief Executive was Vice Chair of their Board of Trustees until November 2019.

The National Council for Voluntary Organisations (NCVO), who champion the voluntary sector by connecting, representing and supporting voluntary organisations.

Southwark Legal Advice Network (SLAN), which aims to improve access to quality assured advice services and self-help information in Southwark for people in greatest need.

The Better Way Network, a national network of leaders who want to improve services and build strong communities. Our Chief Executive is a ‘Core Group’ member and the network’s thought leader on radical listening.

In addition:

Our Chief Executive, Karin Woodley, held roles as:

We are also very grateful for the support we receive from Macfarlanes LLP, a London-based law firm, who has been our corporate partner for over 30 years. In addition to providing us with legal services on a pro bono basis:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Public benefit

Trustees have considered the Charity Commission’s general guidance on public benefit, and taken it into account when reviewing our aims and objectives, and planning future activities.

Cambridge House provides public benefit by:

We are satisfied that the aims of Cambridge House are carried out wholly in pursuit of the public benefit.

Staffing and remuneration

Cambridge House is accredited by Mindful Employer, Two Ticks Positive about Disabled People and the London Living Wage Foundation. These standards help to ensure our human resources policies:

Performance management

Staff remuneration

We recognise the importance of being transparent and accountable in all aspects of our work, including how we reward and recognise our staff and this is set out in a Staff Remuneration Policy. We are an accredited Living Wage Employer and this means that every employee and intern in our organisation earns at least the London Living Wage as set independently by the Living Wage Foundation.

Trustees are committed to ensuring that we pay our staff fairly and in a way which ensures we achieve the greatest impact in delivering our charitable objectives. In deciding on levels of pay the following factors are considered:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Salaries

We had a staff team of 41 full-time (39 in 2020) and 13 part-time (13 in 2020) staff (49 full time equivalent) at the end of March 2021. For Cambridge House to run successfully, a range of specialist skills and disciplines are required, and we need to pay appropriately to ensure that we recruit people with the right experience. It is also important that we develop and retain our staff so that our services benefit from the team’s growing knowledge. Many of our team develop expertise that is unique to them in the organisation and could not be quickly replaced and our staff pay scales are set with this in mind.

The salary of the Chief Executive is approved by our Council based on recommendations from our Finance Subcommittee. The Chief Executive requires a breadth and depth of expertise which requires drawing from the best senior level talent in a competitive market. They need to be able to command the respect of their peers, our stakeholders and our service users locally, nationally and internationally, through their experience and their credibility.

The Chief Executive’s salary is reviewed to benchmark it against other charities in London relative to size, budgets, responsibilities and the competitiveness of the employment market. At the same time, we seek to keep salary costs under control. The Chief Executive’s salary was last benchmarked in 2013-14.

Chief Executive’s pay
Name Title 2020-21 2019-20
Karin Woodley Chief Executive £78,023 £77,250

All other staff salaries are set by our Chief Executive and the management team using comparisons with charities of our size in London, and considering factors including inflation, Cambridge House’s financial position and the other factors mentioned above. Salaries are openly stated in job adverts and we don’t offer performance-related pay or a bonus scheme.

Pay awards

The annual pay increase for the Chief Executive, management team and staff was 1% in the year (0% in 2020), except for staff being paid the London Living Wage who received a cost-of-living increase of 0.9% (1.9% in 2020).

Pay ratio

The remuneration ratio for Cambridge House is considered alongside external market conditions for the specific roles and we aspire to a pay ratio that is less than 3:5. The ratio of our highest salary (£78,023) to our median salary (£29,246) was 2:67:1 (2:4:1 in 2019-20), which compares very favourably to the charity sector average of 5:1.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Volunteering and employability

Volunteers make a vital contribution to our work by bringing their time, energy and enthusiasm to a range of our activities. We strive to provide them with opportunities to acquire skills and experiences that will help them improve their quality of life, develop their professional knowledge or progress into further education, employment and training.

Most of our volunteers find out about us through online recruitment, personal recommendation and business ‘Corporate Social Responsibility’ schemes. Our volunteers are not paid for their time, but they are reimbursed for out-of-pocket expenses such as travel. All our volunteers are provided with volunteer agreements which define their goals, our needs, and the level of support or training they will receive.

The number of volunteers reduced to 17 during the year (35 in 2020) as a result of social distancing restrictions. However, the number of voluntary hours worked increased to 2,926 (2,136 in 2020) as they helped us to address the challenges posed by the pandemic. The financial value of the hours contributed by volunteers, based on the London Living Wage, was £31,747 (£22,535 in 2020). The percentage of volunteer time contributed to specific activities during the year is shown in the table below.

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Safer Renting 1%
Business transformation 2%
Education and Inclusion 28%
Governance 69%
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Internships

We have a 12-month paid internship programme that has been running since 2013 and offers opportunities for people to develop the skills and experience they need to develop a career. Our interns are externally recruited and receive the London Living Wage.

We had 6 internships during the year (6 in 2020), all were trainee caseworkers in our Safer Renting team. 2, having begun their internships in 2020, progressed into permanent team roles and 4 new recruits joined us during the year.

Risk management

Trustees regularly review and assess the risks faced by Cambridge House in all areas of our work and plan for the management of those risks. Our Risk Register and Risk Appetite Statement is reviewed annually by the Council to ensure that the material risks to which we are exposed are properly evaluated and managed. The Governance, Risk and Inclusion Subcommittee is responsible for:

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Financial risks are supervised and monitored monthly by the Council’s Finance Subcommittee and reported on quarterly at Council meetings.

Our leadership and management teams ensure that all plans and decisions consider the possibility of negative outcomes and appropriate mitigating actions are implemented to address residual risks to a level trustees consider acceptable.

We recognise that, to achieve our objectives, the nature of some of our work requires acceptance of some risks which are outside of our control. These are risks which cannot be eliminated, so we ensure they are proactively and clearly monitored.

Trustees consider there to be appropriate systems and controls in place to monitor, manage and mitigate Cambridge House’s exposure to risks. These include, among other control mechanisms, maintaining staff awareness of risks by embedding suitable approaches in the budgeting process, a strategy to rebuild free reserves, and reviews of key systems and processes by our Finance Subcommittee.

Our risk assessment and mitigation approach is proactive and:

Principal Risks and Uncertainties

Our highest risk areas, ranked for likelihood and impact, have been identified as:

Auditors

Sayer Vincent LLP have indicated their willingness to continue in office and, in accordance with the provisions of the Companies Act 2006, it is proposed that they be re-appointed auditors for 202122. A resolution proposing their re-appointment will be submitted to the Annual General Meeting.

This Trustees’ Annual Report is approved by trustees and the Strategic Report, which forms part of the Annual Report, is approved by trustees in their capacity as company directors.

Signed on behalf of the trustees/directors

Simon Latham, Chair Date 17 March 2022

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Acknowledgements

London Borough of Waltham Forest Our trustees sincerely thank all our London Borough of Wandsworth supporters and donors who make our work London Housing Foundation Ltd possible London Legal Support Trust BBC Children in Need London Youth Charterhouse-in-Southwark Merchant Taylors Company City Bridge Trust Mrs Maud van Norden's Charitable Foundation City of London Community Response Fund National Lottery Covid-19 Response Fund Comic Relief Newcomen Collett Foundation Darlington Borough Council Nottinghamshire County Council Elizabeth and Prince Zaiger Trust Postcode Community Trust Emmanuel College Cambridge Rix-Thompson-Rothenberg Foundation George Bairstow Charitable Trust Robert Holman Memorial Trust Greener City Fund (Mayor of London) Shanly Foundation Groundwork London Sir Jules Thorn Charitable Trust Hertfordshire County Council Social Investment Business Jack Petchey Foundation St Olave's and St Saviour's Schools Foundation Julia and Hans Rausing Trust The Access to Justice Foundation Legal Aid Agency The Austin and Hope Pilkington Trust Legal Education Foundation The Boshier Hinton Foundation London Borough of Barking and Dagenham The Charterhouse Foundation London Borough of Bexley The Community Justice Fund London Borough of Croydon The Helen Isabella Mcmorran Charitable Foundation London Borough of Enfield The Law Centres Network London Borough of Greenwich The Matrix Causes Fund (Matrix Chambers) London Borough of Hackney The Mayor's Fund for London London Borough of Haringey The Mayor's Young Londoners Fund London Borough of Havering The Postcode Community Trust London Borough of Hounslow The Swimathon Foundation London Borough of Islington The Young Foundation London Borough of Kingston upon Thames Trust for London London Borough of Lambeth Tudor Trust London Borough of Lewisham University of Cambridge, St John's College London Borough of Newham West Berkshire Council London Borough of Richmond upon Thames West Sussex County Council London Borough of Southwark Westminster City Council London Borough of Tower Hamlets

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

We also wish to thank our

partners – our

success relies on collaboration

Ann Bernadt Children’s Centre

Ark Walworth Academy

Barca Leeds Barton Hill Settlement Birmingham Settlement Blackfriars Settlement Blue Elephant Theatre

Britain Has Class British Red Cross

Cambridge City Council Landlord’s Forum

Hart Club

Health Watch Southwark Herne Hill Velodrome

Housing Law Practitioners Association

HYP Southwark

InSpire International Federation of Settlements

James Murray MP

Karen Buck MP Kathryn Oliver & Iain Carroll Landlord Law Conference Leap Confronting Conflict Legal Aid Practitioners Group

Sheila McKechnie Foundation

Shelter

Southwark Foodbank

Southwark Law Centre

Southwark News

Spa School

St Giles Trust

The Better Way Network

The Centre for Housing Policy, University of York

The Chartered Institute of Environmental Health

The Greater London Authority

The Grove Children’s Centre

The Mayor's Private Rented Sector Team

Lives Not Knives

Caspian Street Allotment

Centre for London

Chartered Institute for Housing

London Borough of Waltham Forest Landlord Forum

London Legal Support Trust

The Metropolitan Police Service

The National Residential Landlords Association

London Live

Chartered Institute of Legal Executives

Childnet

City Law School

City University

Crawford Children’s centre

Creation Trust

Crisis

Department for Levelling Up, Housing and Communities

Dr Anne Wilson

Dr Jill Stewart

Dr Julie Rugg

Dulwich Wood Children’s Centre

Esprima

Generation Rent

Get Outta The Gang Global Social Economy Forum Hackney Law Centre

London School of Economics and Political Science

London Youth

Love Disfigure

LSE Housing and Communities

Macfarlanes LLP

McCarthy's Costs

Metropolitan Police Service

MyBnk

National Landlord’s Association

National Practitioners Support Service

Nell Gwynn Children’s centre

NHS Talking Therapies Peckham Pulse Power to Change Professor Matt Egan

The Old Vic

The Renters' Reform Coalition The Salmon Youth Centre

The School for Social Entrepreneurs

The Social Innovation Exchange

The Young Foundation

The Young Vic

The Law Centres Network

TMC Legal Services Ltd

Tom Copley, Deputy Mayor for Housing

UK Onward

University College London Victim Support Southwark Wheels for Wellbeing

Z2K conference for Housing Advisers

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 39 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Charity reference and administrative information

President HRH The Duke of Gloucester

Patrons Dr Rowan Williams Charles Arthur Robert Park Trustees and directors Simon Latham– Chair David Coleman - Vice-Chair David Goode - Treasurer Clarissa Lyons - Company Secretary Nikki Dawson (Retired March 2021) Amy Fraser (née Hennessy) Anu Mensah Shveta Shah Fiona Shaw Stephanie Tidball Co-opted adviser Mandy Samrai (appointed to the Transformation Subcommittee May 2021) Executive team

Leadership Karin Woodley CBE – Chief Executive Eusebio Barata – Corporate Director Karen Bayne – Finance Director Heads of Services Gurminder Birdi –Law Centre Jo Hrabi (Maternity Cover from December 2021) - Education and Inclusion Max Puzey –Independent Advocacy Roz Spencer – Safer Renting Rachel Zipfel (Maternity Leave from December 2021) – Education and Inclusion

Financial adviser Neal Howard Ltd

Auditors

Sayer Vincent, Invicta House, 108-114 Golden Lane, London EC1Y 0TL

Bankers

Royal Bank of Scotland, London City Office 63 Threadneedle Street, London EC2R 8LA

Registered office

Cambridge House, 1 Addington Square, London SE5 0HF

Reference and administrative details Charity number, England and Wales: 265103 Company number: 1050006 VAT Registration Number: 802 6719 39

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 40 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Independent auditor’s report to the members of Cambridge House and Talbot

Opinion

We have audited the financial statements of Cambridge House and Talbot (the ‘charitable company’) for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on Cambridge House and Talbot’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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Cambridge House and Talbot - Annual Report and Accounts 2020-2021

Other Information

The other information comprises the information included in the trustees’ annual report, including the strategic report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ annual report including the strategic report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees’ responsibilities set out in the trustees’ annual report, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 42 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

Capability of the audit in detecting irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 43 of 62

Cambridge House and Talbot - Annual Report and Accounts 2020-2021

in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charitable company's members as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Noelia Serrano (Senior statutory auditor) Date: 17 March 2022

for and on behalf of Sayer Vincent LLP, Statutory Auditor Invicta House, 108-114 Golden Lane, LONDON, EC1Y 0TL

Cambridge House and Talbot - Annual Report and Accounts 2020-2021 - Page 44 of 62

Cambridge House and Talbot

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2021

Unrestricted
Note
£
Income from:
2
226,378
3
440,532
3
73,464
3
291,219
3
114,755
356,967
3
2,250
1,505,568
4
60,162
4
306,086
4
27,948
4
222,301
4
120,612
4
675,780
1,412,889
92,679
(2,295,000)
5
(2,202,321)
Reconciliation of funds:
3,320,834
1,118,513
Charitable donations
Charitable activities
Advocacy
Education and Inclusion Services
Raising funds
Total expenditure
Charitable activities
Law Centre
Safer Renting
Community Hub Services
Safer Renting
Advocacy
Education and Inclusion Services
Investments
Other
Total income
Law Centre
Expenditure on:
Rental and venue hire income
Total funds carried forward
Net income before other recognised
losses
(Loss) on revaluation of fixed assets
Net movement in funds
Total funds brought forward		 Unrestricted
Note
£
Income from:
2
226,378
3
440,532
3
73,464
3
291,219
3
114,755
356,967
3
2,250
1,505,568
4
60,162
4
306,086
4
27,948
4
222,301
4
120,612
4
675,780
1,412,889
92,679
(2,295,000)
5
(2,202,321)
Reconciliation of funds:
3,320,834
1,118,513
Charitable donations
Charitable activities
Advocacy
Education and Inclusion Services
Raising funds
Total expenditure
Charitable activities
Law Centre
Safer Renting
Community Hub Services
Safer Renting
Advocacy
Education and Inclusion Services
Investments
Other
Total income
Law Centre
Expenditure on:
Rental and venue hire income
Total funds carried forward
Net income before other recognised
losses
(Loss) on revaluation of fixed assets
Net movement in funds
Total funds brought forward		 Restricted
£
212,701
-
199,952
59,000
164,022
-
-
-		 2021
Total
£
439,079
440,532
273,416
350,219
278,777
356,967
3
2,250		 Unrestricted
£
35,050
446,591
80,005
422,494
89,445
501,670
10
1,000		 Restricted
£
-
-
126,062
58,100
189,723
-
-
-		 2020
Total
£
35,050
446,591
206,067
480,594
279,168
501,670
10
1,000
1,505,568 635,675 2,141,243 1,576,265 373,885 1,950,150
60,162
306,086
27,948
222,301
120,612
675,780		 -
212,701
199,952
59,000
164,022
-		 60,162
518,787
227,900
281,301
284,634
675,780		 48,804
481,679
94,034
269,590
60,219
583,752		 -
-
126,062
58,100
189,723
-		 48,804
481,679
220,096
327,690
249,942
583,752
1,412,889 635,675 2,048,564 1,538,078 373,885 1,911,963
92,679
(2,295,000)		 -
-		 92,679
(2,295,000)		 38,187
-		 -
-		 38,187
-
(2,202,321)
3,320,834		 -
-		 (2,202,321)
3,320,834		 38,187
3,282,648		 -
-		 38,187
3,282,648
1,118,513 - 1,118,513 3,320,834 - 3,320,834

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 17a to the financial statements.

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Cambridge House and Talbot

Balance sheet

Balance sheet
As at 31 March 2021 Company no. 1050006
Note
Fixed assets:
10
Current assets:
11
Liabilities:
12
14
17a
Total unrestricted funds
General funds
Total charity funds
Cash at bank and in hand
Tangible assets
The funds of the charity:
Creditors: amounts falling due within one year
Net current liabilities
Total net assets
Creditors: amounts falling due after one year
Restricted income funds
Unrestricted income funds:
Revaluation reserve
Total assets less current liabilities
Debtors		 £
294,004
147,117		 2021
£
4,509,525
234,254		 £
148,706
2,159		 2020
£
6,960,500
(14,400)
441,121
(206,867)		 150,865
(165,265)
-
1,118,513		 2,163,786
1,157,048
4,743,779
(3,625,266)		 6,946,100
(3,625,266)
1,118,513 3,320,834
-
1,118,513		 -
3,320,834
1,118,513 3,320,834

Approved by the trustees on 17 March 2022 and signed on their behalf by

Simon Latham Chair

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Cambridge House and Talbot

Statement of cash flows

For the year ended 31 March 2021

Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
92,679
(as per the statement of financial activities)
Depreciation charges
155,975
Dividends, interest and rent from investments
(3)
(Increase)/decrease in debtors
(145,298)
Decrease/(increase) in creditors
41,602
Net cash provided by operating activities
144,955
3
-
3
-
-
144,958
2,159
147,117
Analysis of cash and cash equivalents and of net debt
At 1 April
2020
Cash flows
£
£
Cash at bank and in hand
2,159
144,958
Overdraft facility repayable on demand
(20,198)
20,198
Total cash and cash equivalents
(18,039)
165,156
Loans falling due after more than one year
(3,625,266)
-
Total
(3,643,305)
165,156
2021
Cash flows from financing activities:
Cash and cash equivalents at the beginning of the
year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the end of the year
Net cash used in financing activities
Change in cash and cash equivalents in the year
Repayments of borrowing		 Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
92,679
(as per the statement of financial activities)
Depreciation charges
155,975
Dividends, interest and rent from investments
(3)
(Increase)/decrease in debtors
(145,298)
Decrease/(increase) in creditors
41,602
Net cash provided by operating activities
144,955
3
-
3
-
-
144,958
2,159
147,117
Analysis of cash and cash equivalents and of net debt
At 1 April
2020
Cash flows
£
£
Cash at bank and in hand
2,159
144,958
Overdraft facility repayable on demand
(20,198)
20,198
Total cash and cash equivalents
(18,039)
165,156
Loans falling due after more than one year
(3,625,266)
-
Total
(3,643,305)
165,156
2021
Cash flows from financing activities:
Cash and cash equivalents at the beginning of the
year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the end of the year
Net cash used in financing activities
Change in cash and cash equivalents in the year
Repayments of borrowing		 Note
£
£
Cash flows from operating activities
Net (expenditure)/income for the reporting period
92,679
(as per the statement of financial activities)
Depreciation charges
155,975
Dividends, interest and rent from investments
(3)
(Increase)/decrease in debtors
(145,298)
Decrease/(increase) in creditors
41,602
Net cash provided by operating activities
144,955
3
-
3
-
-
144,958
2,159
147,117
Analysis of cash and cash equivalents and of net debt
At 1 April
2020
Cash flows
£
£
Cash at bank and in hand
2,159
144,958
Overdraft facility repayable on demand
(20,198)
20,198
Total cash and cash equivalents
(18,039)
165,156
Loans falling due after more than one year
(3,625,266)
-
Total
(3,643,305)
165,156
2021
Cash flows from financing activities:
Cash and cash equivalents at the beginning of the
year
Net cash used in investing activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Purchase of fixed assets
Cash and cash equivalents at the end of the year
Net cash used in financing activities
Change in cash and cash equivalents in the year
Repayments of borrowing		 £
£
38,187
155,617
(10)
(11,264)
(166,037)
16,493
10
(16,774)
(16,764)
-
-
(271)
2,431
2,159
Other non-
cash
changes
At 31 March
2021
£
£
147,117
-
147,117
-
(3,625,266)
-
(3,478,149)
2020		 £
£
38,187
155,617
(10)
(11,264)
(166,037)
16,493
10
(16,774)
(16,764)
-
-
(271)
2,431
2,159
Other non-
cash
changes
At 31 March
2021
£
£
147,117
-
147,117
-
(3,625,266)
-
(3,478,149)
2020
3
-		 10
(16,774)
- -
At 1 April
2020
£
2,159
(20,198)		 Other non-
cash
changes
£
144,958
2,159		 (271)
2,431
147,117 2,159
Cash flows
£
144,958
20,198		 At 31 March
2021
£
147,117
-
(18,039) 165,156 147,117
(3,625,266) - - (3,625,266)
(3,643,305) 165,156 - (3,478,149)

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies

a) Statutory information

Cambridge House and Talbot is a charitable company limited by guarantee and is incorporated in England and Wales. The registered office address and principle place of business is Cambridge House, 1 Addington Square, London, SE5 0HF.

b) Basis of preparation

The financial statements have been prepared in accordance with 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) - (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

The Charity has a subsidiary, Enterprise at Cambridge House Limited. The subsidiary is currently dormant and therefore consolidated financial statements have not been prepared.

In applying the financial reporting framework, the trustees have made a number of subjective judgements, for example in respect of significant accounting estimates. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The nature of the estimation means the actual outcomes could differ from those estimates. Any significant estimates and judgements affecting these financial statements are detailed within the relevant accounting policy below.

c) Public benefit entity

The charity meets the definition of a public benefit entity under FRS 102.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

d) Going concern

The trustees consider that the organisation remains a going concern and have prepared the financial statements on a going concern basis. The trustees meet regularly to review the financial position and cashflow to ensure that liabilities can be paid as they fall due whilst the needs of service users and stakeholders continue to be met for the foreseeable future. The Going Concern Statement on page 22 of the Strategic Report’s Financial Review sets out the risks and mitigating steps being taken, and further sets out that further significant improvement to the cash flow has already been achieved in 2021/22 despite difficult pandemic circumstances.

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

h) Fund accounting

Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.

Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.

i) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

j) Allocation of support costs

Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.

Where information about the aims, objectives and projects of the charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.

Where such information about the aims, objectives and projects of the charity is also provided to potential donors, activity costs are apportioned between fundraising and charitable activities on the basis of area occupied by each activity.

Raising Funds 3%
Advocacy 26%
Education and Inclusion Services 16%
Law Centre 18%
Safer Renting 13%
Community Hub Services 24%

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

This year, costs of raising funds have been separated out and support and governance costs allocated. The prior year figures have also be reanalysed on the same basis in order for them to remain comparative.

Governance costs are the costs associated with the governance arrangements of the charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the charity’s activities.

K) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to activities on the basis of the use of the related assets in those activities. Assets are reviewed for impairment if circumstances indicate their carrying value may exceed their net realisable value and value in use. Major components are treated as a separate asset where they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Where fixed assets have been revalued, any excess between the revalued amount and the historic cost of the asset will be shown as a revaluation reserve in the balance sheet.

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

The freehold property was revalued during the year and the property was put up for sale following the year end. The expected realisable value based on the property revaluation carried out in the year is lower than the value in use resulting in a loss on revaluation of £2,295,000 to bring the property to market value, which is recognised on the statement of financial activity. The revaluation reserve has been fully utilised as part of the recognition of the decrease in value of the property.

l) Investments in subsidiaries

Investments in subsidiaries are at cost.

m) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Cash balances exclude any funds held on behalf of service users.

o) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably 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 and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

p) 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 recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

q) Pensions

The charity participates in two sections of The Pensions Trust, a multi-employer pension scheme. One section effectively provides benefits based on final pensionable pay, “The Growth Plan”. The assets of this section are held separately from those of the charity. It is not possible to separately identify the assets and liabilities of participating employers on a consistent and reasonable basis and therefore the charity accounts for the scheme as if it were a defined contribution scheme. As a result, the amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

The other section, The Unitised Ethical Plan, is a segregated defined contribution pension scheme. The assets of this section are also held separately from those of the charity. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

2 Income from charitable donations

Gifts
Grants
CRJS Income		 Unrestricted
£
3,819
107,061
115,498		 £
-
212,701
-
Restricted		 2021
Total
£
3,819
319,762
115,498		 Unrestricted
£
3,275
31,775
-		 £
-
-
-
Restricted		 2020
Total
£
3,275
31,775
-
226,378 212,701 439,079 35,050 - 35,050

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

3 Income from charitable activities

Income from charitable activities vities
Unrestricted
£
48,256
98,172
122,378
133,960
37,766
Sub-total for Advocacy
440,532
-
-
-
-
National Lottery
-
The Henry Smith Charity
73,464
73,464
127,951
58,272
104,996
-
291,219
-
43,429
-
33,800
-
-
-
-
37,526
-
114,755
919,970
London Borough of Waltham
Forest
Comic Relief
Grant making trusts
London Borough of
Southwark
Children in Need
Grant making trusts
Other Services
Sub-total for Education and
Inclusion Services
London Borough of
Southwark
Legal Aid Agency
Other services
Grant making trusts
London Borough of
Hounslow
Westminter City Council
Trust for London
The Tudor Trust
Other services
Greater London Authority -
Young Londoners Fund
London Borough of Lambeth
Sub-total for Safer Renting
London Borough of Enfield
London Borough of Waltham
Forest
London Borough of Barking
& Dagenham
London Borough of
Richmond upon Thames
Other services
Sub-total for Law Centre
London Borough of
Kingston upon Thames
Total income from
charitable activities		 Unrestricted
£
48,256
98,172
122,378
133,960
37,766
 £
-
-
-
-
-
Restricted		 2021
Total
£
48,256
98,172
122,378
133,960
37,766		 Unrestricted
£
48,256
116,390
154,084
112,742
15,119		 £
-
-
-
-
-
Restricted		 2020
Total
£
48,256
116,390
154,084
112,742
15,119
440,532
-
-
-
-
-
73,464		 -
18,347
44,926
23,968
18,037
73,624
21,050
-		 440,532
18,347
44,926
23,968
18,037
73,624
21,050
73,464		 446,591
-
-
-
-
-
-
80,005		 -
18,347
29,951
23,968
53,796
-
-
-		 446,591
18,347
29,951
23,968
53,796
-
-
80,005
73,464
127,951
58,272
104,996
-		 199,952
-
-
-
59,000		 273,416
127,951
58,272
104,996
59,000		 80,005
140,864
98,522
183,108
-		 126,062
-
-
-
58,100		 206,067
140,864
98,522
183,108
58,100
59,000
-
-
-
-
-
50,022
59,000
40,000
-
15,000		 350,219
-
43,429
-
33,800
-
50,022
59,000
40,000
37,526
15,000		 422,494
10,600
42,506
19,600
-
15,500
-
-
-
1,239
-		 58,100
-
-
-
-
-
49,329
51,000
50,000
-
39,394		 480,594
10,600
42,506
19,600
-
15,500
49,329
51,000
50,000
1,239
39,394
114,755 164,022 278,777 89,445 189,723 279,168
919,970 422,974 1,342,944 1,038,534 373,885 1,412,419

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Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

4a Analysis of expenditure (current year)

Charitable activities

Staff costs (note 6)
Other staff costs (note 6)
Activity cost
Premises cost
Office cost
Depreciation
Audit & accountancy
Legal & professional
Irrecoverable VAT
Bad debts written off
Support costs
Governance costs
Total expenditure 2021
Total expenditure 2020		 Raising
funds
£
49,454
-
-
-
-
-
-
-
-
-
49,454
10,423
285
60,162
48,804		 Advocacy
£
396,388
16,308
13,292
-
-
-
-
-
-
-		 Education and
Inclusion
Services
£
156,412
2,111
12,270
-
-
-
-
-
-
-		 Law Centre
£
203,191
2,620
11,245
-
-
-
-
-
-
-		 Safer
Renting
£
219,110
-
19,125
-
-
-
-
-
-
-		 Community
Hub Services
£
180,130
9,623
243,134
1,257
-
155,975
-
-
-
-		 Governance
costs
£
-
-
-
-
-
-
9,500
-
-
-		 Support
costs
£
189,626
8,075
-
55,708
27,881
-
6,147
200
53,983
5,799		 2021 Total
£
1,394,311
38,737
299,066
56,965
27,881
155,975
15,647
200
53,983
5,799		 2020 Total
£
1,351,896
22,270
264,031
22,363
20,607
155,612
14,464
22,609
38,111
-
425,988
90,329
2,470		 170,793
55,587
1,520		 217,056
62,535
1,710		 238,235
45,164
1,235		 590,119
83,381
2,280		 9,500
-
(9,500)		 347,419
(347,419)
-		 2,048,564
-
-		 1,911,963
-
-
518,787 227,900 281,301 284,634 675,780 - - 2,048,564 1,911,963
481,679 220,096 327,690 249,942 583,752 - -

This year, costs of raising funds have been separated out and support and governance costs allocated. The prior year figures have also be reanalysed on the same basis in order for them to remain comparative.

53 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

4b Analysis of expenditure (Prior year)

Charitable activities

Staff costs (note 6)
Other staff costs (note 6)
Activity cost
Premises cost
Office cost
Depreciation
Audit & accountancy
Legal & professional
Irrecoverable VAT
Bad debts written off
Support costs
Governance costs
Total expenditure 2020		 Raising
funds
£
38,994
-
-
-
-
-
-
-
-
-		 Advocacy
£
368,231
14,785
13,645
-
-
-
-
-
-
-		 Education and
Inclusion
Services
£
140,705
395
26,677
-
-
-
-
-
-
-		 Law Centre
£
255,080
1,300
12,451
-
-
-
-
-
-
-		 Safer
Renting
£
192,060
2,733
12,640
-
-
-
-
-
-
-		 Community
Hub Services
£
148,735
-
198,618
1,873
435
155,612
-
-
-
-		 Governance
costs
£
-
-
-
-
-
-
9,150
-
-
-		 Support costs
£
208,091
3,057
-
20,490
20,172
-
5,314
22,609
38,111
-		 2020 Total
£
1,351,896
22,270
264,031
22,363
20,607
155,612
14,464
22,609
38,111
-
38,994
9,535
275		 396,661
82,639
2,379		 167,777
50,855
1,464		 268,831
57,212
1,647		 207,433
41,320
1,190		 505,273
76,283
2,196		 9,150
-
(9,150)		 317,844
(317,844)
-		 1,911,963
-
-
48,804 481,679 220,096 327,690 249,942 583,752 - - 1,911,963

54 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

5 Net movement in funds

This is stated after charging:

This is stated after charging:
2021 2020
£ £
Depreciation 155,975 155,617
Loss on revaluation of fixed asset 2,295,000 -
Interest payable 359 2,493
Auditor's remuneration (excluding VAT):
Audit 9,500 9,150
Other services 3,200 3,150
Staff costs were as follows:
Training, expenses and recruitment
Salaries and wages
Employer’s contribution to defined contribution pension schemes
Agency staff costs
Social security costs
Total Staff costs		 2021
£
1,247,367
112,747
34,197		 2020
£
1,192,636
104,384
31,851
1,394,311
18,883
19,854		 1,328,871
17,519
27,776
1,433,048 1,374,166

The following number of employees received employee benefits (excluding employer pension costs and employer's national insurance) during the year between:

2021 2020
No. No.
£70,000 - £79,999 1 1

The total employee benefits (including pension contributions and employer's national insurance) of the key management personnel were £187,638 (2020: £165,281).

The charity trustees were neither paid nor received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

No trustees were reimbursed expenses in the year (2020: £nil)

7 Staff numbers

The average number of employees (head count based on number of staff employed) during the year was:

Education & Inclusion Services
Community Hub Services
Support
Advocacy
Law Centre
Safer Renting		 2021
No.
13
12
5
7
9
6		 2020
No.
13
13
7
7
7
5
52 52

55 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

8 Related party transactions

S Tidball (trustee) is an employee of Macfarlanes LLP. During the year Cambridge House and Talbot received pro bono advice and legal services from Macfarlanes LLP worth an estimated £21,897 (£12,000 in 2020). This has not been included in the statement of financial activities this year due to its material nature.

K Woodley (Chief Executive) is a trustee of:

Simon Latham, Chair of trustees, is an employee of the City of London Corporation and Chief Operating Officer of Bridge House Estates. Cambridge House is currently in receipt of a grant from The City Bridge Trust which is Bridge House Estate’s grant-giving body. Simon Latham has notified City of London Corporation of his trusteeship of Cambridge House, holds no decision-making responsibilities in respect of City Bridge Trust grant-giving, and will recuse himself if matters are raised in respect of Cambridge House’s grant at any relevant management board.

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

9 Taxation

The charity is exempt from corporation tax as its income is charitable and is applied for charitable purposes.

10 Tangible fixed assets

Tangible fixed assets
At the end of the year
At the start of the year
Charge for the year
At the start of the year
Revaluation
Depreciation
Eliminated on revaluation
At the end of the year
Net book value
At the end of the year
Cost or valuation
At the start of the year		 Freehold
property
£
7,550,000
(3,050,000)		 Computer
equipment
£
359,588
-		 Total
£
7,909,588
(3,050,000)
4,500,000 359,588 4,859,588
604,000
151,000
(755,000)		 345,088
4,975
-		 949,088
155,975
(755,000)
- 350,063 350,063
4,500,000 9,525 4,509,525
6,946,000 14,500 6,960,500

The freehold property was revalued during the year and the property was put up for sale following the year end. The expected realisable value based on the property revaluation carried out in the year is lower than the value in use resulting in a loss on revaluation of £2,295,000 to bring the property to market value, which is recognised on the statement of financial activity. The revaluation reserve has been fully utilised as part of the recognition of the decrease in value of the property.

All of the above assets are used for charitable purposes.

56 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

11 Debtors

Debtors
Accruals
Deferred income
Creditors: amounts falling due within one year
Overdraft
Trade creditors
Other creditors
Taxation and social security
Trade debtors
Prepayments
Accrued income
Other debtors		 2021
£
210,147
4,488
75,812
3,557		 2020
£
65,028
2,907
77,227
3,544
294,004 148,706
2021
£
-
60,351
19,535
19,493
70,366
37,122		 2020
£
20,198
76,741
880
8,852
17,367
41,227
206,867 165,265

12 Creditors: amounts falling due within one year

13 Deferred income

Deferred income comprises of grant income received in the year for projects to take place in the next financial year.

Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
Bank loans
Creditors: amounts falling due after one year		 2021
£
17,367
(17,367)
70,366		 2020
£
53,703
(53,703)
17,367
70,366 17,367
2021
£
3,625,266		 2020
£
3,625,266
3,625,266 3,625,266

14 Creditors: amounts falling due after one year

The latest loan terms stipulate capital repayments of £120,000 per year, and an agreement has been reached with SIB that the current full capital and interest repayment holiday will continue to at least 31 December 2022. Thereafter, the repayment holiday will be subject to review. As a result, the full balance of the loans have been disclosed as falling due after more than one year.

The loans are secured on a Pari Passu legal charge basis between the Futurebuilders Fund and Communitybuilders Fund over the freehold property.

57 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

15 Pension scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 950 nonassociated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions - total from all participating employers

From 1 April 2019 to 31 January 2025: £11,243,000 per annum
(payable monthly and increasing by 3% each on 1st April)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme’s previous valuation was carried out with an effective date of 30 September 2014. This valuation showed assets of £793.4m, liabilities of £969.9m and a deficit of £176.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions - total from all participating employers

From 1 April 2016 to 30 September 2025: £12,945,440 per annum
(payable monthly and increasing by 3% each on 1st April)
From 1 April 2016 to 30 September 2028: £54,560 per annum
(payable monthly and increasing by 3% each on 1st April)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

58 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

15 Pension scheme (continued)

Pension scheme (continued)
Discount rate
Net interest on defined benefit liability/(asset)
The effect of any curtailment or settlement
Remeasurements - impact of any change in assumptions
Total costs
Key assumptions
Amounts recognised in the profit and loss account:		 2021
%
0.66		 2020
%
2.53
2021
£
331
-
426		 2020
£
226
(400)
757 (174)

The amounts included in the balance sheet arising from the charity's obligations in respect of defined benefit plans are as follows:

plans are as follows:
Present value of defined benefit obligations
Deficit in scheme
Liabilities at 1 April 2020
Deficit contributions paid
Interest cost
Remeasurements - impact of any change in assumptions
At 31 March 2021
Movements in the present value of defined benefit obligations:		 2021
£
12,451		 2020
£
14,753
12,451 14,753
2021
£
14,753
(3,059)
331
426		 2020
£
17,897
(2,970)
226
(400)
12,451 14,753

16a Analysis of net assets between funds (current year)

Analysis of net assets between funds (current year)
Net assets at 31 March 2021
Tangible fixed assets
Long term liabilities
Net current assets		 Revaluation
reserve
£
-
-
-		 General
unrestricted
£
4,509,525
234,254
(3,625,266)		 Restricted
£
-
-
-		 Total funds
£
4,509,525
234,254
(3,625,266)
- 1,118,513 - 1,118,513

16b Analysis of net assets between funds (prior year)

Analysis of net assets between funds (prior year)
Tangible fixed assets
Net current (liabilities)
Long term liabilities
Net assets at 31 March 2020		 Revaluation
reserve
£
2,163,786
-
-		 General
unrestricted
£
4,796,714
(14,400)
(3,625,266)		 Restricted
£
-
-
-		 Total funds
£
6,960,500
(14,400)
(3,625,266)
2,163,786 1,157,048 - 3,320,834

59 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

17a
Restricted donations:
School for Social Entrepeneurs
Groundwork London
Law Centres Network
London Community Response Fund
The Tudor Trust
Access to Justice Fund
Education and Inclusion Services
National lottery
Percy Bilton
Schroder Charity Trust
The Henry Smith Charity
Law Centre
City Bridge Trust
Safer Renting
Tudor Trust
London Housing Foundation
Comic Relief
Total restricted funds
Revaluation reserve
General funds
Trust for London
Total funds
Total unrestricted funds
The Mayor's Young Londoners Fund
Newcomen Collet Foundation
Restricted funds:
National Lottery Community Fund
London Borough of Southwark
Jack Petchey Foundation
London Borough of Southwark
BBC Children in Need
London Youth CVC Summer Grant
Funding
Unrestricted funds:
London Legal Support Trust
Movements in funds (current year)		 At 1 April
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Income &
gains
£
8,333
2,129
5,147
34,098
2,000
70,854
72,140
18,000
23,968
73,624
44,926
1,000
6,250
5,000
4,787
1,000
21,050
18,347
10,000
49,000
59,000
40,000
15,000
50,022		 Expenditure
& losses
£
(8,333)
(2,129)
(5,147)
(34,098)
(2,000)
(70,854)
(72,140)
(18,000)
(23,968)
(73,624)
(44,926)
(1,000)
(6,250)
(5,000)
(4,787)
(1,000)
(21,050)
(18,347)
(10,000)
(49,000)
(59,000)
(40,000)
(15,000)
(50,022)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- 635,675 (635,675) - -
2,163,786
1,157,048		 -
1,505,568		 (2,163,786)
(1,544,103)		 -
-		 -
1,118,513
3,320,834 1,505,568 (3,707,889) 1,118,513
3,320,834 2,141,243 (4,343,564) - 1,118,513

The narrative to explain the purpose of each fund is given at the foot of the note below.

60 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

17b Movements in funds (prior year)

Education and Inclusion Services
Law Centre
Safer Renting
Total restricted funds
Revaluation reserve
General funds
Unrestricted funds:
Total unrestricted funds
Total funds
Comic relief
Restricted funds:
Charterhouse-in-Southwark
St Olave’s and St Saviour’s Schools
BBC Children in Need
London Legal Support Trust
City Bridge Trust
Legal Education Foundation
Trust for London
Tudor Trust
The Matrix Causes Fund (Matrix
London Housing Foundation Ltd
London Youth
The Mayor's Young Londoners Fund
Jack Petchey Foundation
London Borough of Southwark
The Postcode Community Trust
George Bairstow Charitable Trust
The Swimathon Foundation
CamberwellCommunity Council
Rix-Thompson Rothenberg		 At 2 April
2019
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Income &
gains
£
6,456
23,968
3,000
9,149
44,927
2,000
18,347
6,953
1,600
2,500
2,356
4,806
10,000
48,100
5,394
51,000
50,000
4,000
30,000
49,329		 Expenditure
& losses
£
(6,456)
(23,968)
(3,000)
(9,149)
(44,927)
(2,000)
(18,347)
(6,953)
(1,600)
(2,500)
(2,356)
(4,806)
(10,000)
(48,100)
(5,394)
(51,000)
(50,000)
(4,000)
(30,000)
(49,329)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 At 31 March
2020
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
- 373,885 (373,885) - -
2,197,066
1,085,582		 -
1,576,265		 -
(1,538,078)		 (33,280)
33,280		 2,163,786
1,157,048
3,282,648 1,576,265 (1,538,078) - 3,320,834
3,282,648 1,950,150 (1,911,963) - 3,320,834

Purposes of restricted funds

Education and Inclusion Services

These funds are to deliver specific youth and disabled people's empowerment services in accordance with restrictions agreed with the funder.

Law Centre

These funds are to deliver specific legal services in accordance with restrictions agreed with the funder

Safer Renting

These funds are to deliver specific private rented sector tenants services in accordance with restrictions agreed with the funder.

Purposes of revaluation reserve

The revaluation reserve represents the difference in value between fixed assets held at valuation compared to their net book value had they been held at cost. Due to the revaluation this year, the reserve has been utilised in recognising the resulting loss on revaluation.

61 of 62

Cambridge House and Talbot

Notes to the financial statements

For the year ended 31 March 2021

18 Trading subsidiary

Enterprise at Cambridge House Limited, the charitable company's trading subsidiary (Company Number: 06740813) was incorporated on the 4 November 2008.

The company ceased to trade in September 2013 although has continued to incur some expenditure. The results of the undertaking have not been consolidated as they were immaterial.

The charity holds all the share capital of Enterprise at Cambridge House Limited.

Relevant financial information regarding Enterprise at Cambridge House Limited is as follows:

Assets
Liabilities
Total funds		 2021
£
243
(2,306)		 2020
£
243
(2,306)
(2,063) (2,063)

21 Post balance sheet events

In February 2022 the charity entered into the final stages of agreeing the sale of the freehold property. At the time of reporting no formal contracts had been signed and so the trustees consider the valuation included in the financial statements to be appropriate given the further discussions to be concluded on ahead of completion.

In March 2022 the charity entered into negociations with SIB in relation to the oustanding loan with the intention to reduce the final amount repayable. As at the reporting date, an agreement had been reached to reduce the loan repayable amount to £2m. As this decision was made after the year end, no adjustments have been included in the financial statements to reflect this and this will be included in the financial statements for the next period.

19 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

62 of 62