Company number 01267728 PEABODY COMMUNITY FOUNDATION Annual report and financial statements 31 March 2023 AcIC 1411212023 COMPANIES HOUSE A17
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Contents Moking a positive impoct in communfftes 2022-23 in numbers About Peobody io Chairfs letler 12 Execulive Director's review 14 Our vision and how we're working towards our key gools l Building engaged and octive communilie5 2 Boosting income 3 Developing skills and aspirations 4 Improving mentol and physical heallh Empowering people with grants Local Peabody Thamesmead Hockney Woltham Fore Islington Southwork and LombÈth Looking forward 40 Partners Trusteos, Dir•¢tors and Advisors 45 Financial Review 47 Trustees. Annual Report 52 Statement of Trustees. responsibilities in respect of the trustees. Annual Report and the financial statements 53 Independent ouditor's report to the Trustees of Peabody Community Foundation 57 Statement of financial activities including incorne and expenditure a¢count for the year ended 31 March 2023 Notes to the Financial Statements P¢FAfrtv4 Artd Accounts ZU22.23 5
Making a positive Our purpose is to help people f lourish. We want to make a positive impact in communities and help our residents and customers become healthier. wealthier and happier. We do this by Wong with residents arKI partners to combine ¢)ur funding, skills and exFerlee so we can offer wKJest FK)ssible ronge of services. support and opportunities. As one of the UK'S oldest not-for-Fyofit housiro ossociati5 wtth o long history but o focus on the future, our community fndatIOn pt¢JV5 a centrol role in h¢)w we invest in ¢)ur communitie& It helps put peo* ¢J their needs at the cenlre of ewrhing we do. This year h05 been an imwrtont one f¢y PeotLMJy. Aftsrjoining t(yJether with Corolyst. we're now o bigger (ygonisotion with o wder reath ond an even greoter potenliol to moke o positive differen. Here we Icok t#Jck on Ihe foundation's achivmmwts ryKI progress in ts 12 thS to 31 March 2023. It was a year Whe we invesled £8.2m in our communilies. and helped residents and Custor5 toke cofttrd ond pty a pxjrt in creating the community and fufure they want. L(x)king ahead as a ccynbired JaniSa11On, kne o w tommunity strotegy thot continues lo fccus on what our residents and cust¢)mers want and need. But our aim will athys be the sarne- to deliver the greotest Wssib volue for our cofflrnunities so tr1 con fk)urish. Iinii 4 PCF Arrnol R0FthoThJAcccts 2022.23
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2022-23 started jobs started apprenticeships achieved qualifications volunteers helped make a difference in their community local grants for community projects local community groups provided free or low cost activities in our community centres £>>> local social enterprises received support people secured childcare qualif ications social value weighting introduced for large contract tenders
About Peabody is one of the UK'S oldest and largest housing associations. We have 107.000 homes and 220,000 residents across London and the Home Counties. We provide care and support services for around 17,500 customers. We have an extensive network of just under 100 community centres. Many of these are led by management committees ond partners delivering a broad range of free or low cost activities in the heart of the community. The Peabody Community Foundation has oround 103 skilled permanent employees and supports over 800 volunteers. They all work together to make a difference in their community. Our strengths Working in partnership: We partner with local authorities. the voluntary secTor ond olher locol stokeholders to bring more services to our communities. We ore ambitiou We devel¢)p notionol ond pon-regional portnerships to bring skills ond funding to local areos. Our colkogues in the communities understand the principles of productive partnerships ond develop strong lOTionshIpS to deliver volue together. Shoring power. We understand our communities and listen to our residents. so our work is driver) by tt>eir needs. We work together to produce Servi and take opportunities to tronsfer power ond control to resident5 and community groups. We're big but locol: Our k)cal opproach is SUPF)Orted by our presence, connecri¢)ns ond knowledge. moximising the impact of our local plans. Our rel(rtionship We hove strong relotionships with o wide ronge of stokeholders ond are trusted to deliver our promises. This helps us incre05e our impJ¢t, ensuriro thot our resources, people ond money go further so we con creote more sustainable Soluti(5. PCF Rewr and Accounr52022.25 9
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Chair's Deirdre Moss, Peabody Community Foundation The year has been a challenging one for our residents and communities. And as the cost-of-living crisis continues. our community investment activities are more important than ever. Reflecting on the highlights set out in this report. it's clear to me that every dcry we're turning our purpose of helping people flourish into action and continuing to make a positive difference to thousands of lives. As a fotjndation, our oim 0y$ been to listen to our residents ond communities and deliver the progrommes and activilies Ihey need. Last year was no different. During the year we invested £8.2m in our community programmes and initlolives and portnered with other organisations to chonnel investment. skills and resources into our communities. We've mode significont progress towords meeting the gools of our Community Strotegy - to moke our residents ond communities heolthier. weolthier ond hoppier. We helped 443 people into work and apprenliceships. Our programmes helped lJ89 customers 9Jin quolificotions and gave 476 businesses ¢xcess to enlerprise suppcrt ond resources. We awarded £l.Im in gronts to community orgonisations. 416 local community groups provided free or low cost activities in our community centres ond 837 volunteers gove their time to moke o difference in our communitie5. We also introduced a new sociol value opproach. By adding a 20 percent weighting to lorge controct tenders. we're helping ro ensure thot residents hove greoter cccess to high quality employment and skills opp)rtunities ond o brcKJder ronge of scri( economic supF<)rt. We're now entering o new era for the Foundotion ¢3fter ioining together with Catalyst on l April 2023. We're becoming a more localty focused orgonisalion, but our aim remains the same- to stoy Strong connected to our sidentS ond cu5tomer5 and keep them at the front ond centre of everything we do. I woukl like lo thank my Foundation colleagues orKI partners for the work they're doing io SUPF)Ort our residents and cornmunities. But mst of all. I would like to thonk our sidenTS and assure them thut we will continue to work hord to be the best we can be for them. Chair P¢F ft•Frytmd Zfft2.J 11
Looking ahead with Helen Edwards. incoming Chair We krvxy the cllengeS facing our residents and communities aren't goiro (w. And know that our foun(kntion hos a dear role to pty in helpirvJ residents deol with these challerw. So os we Iwk forword to the comiro pjr, ¢xJr f¢JS remains very much on Fwile. We'll ok)ngside our residents, communities, stokeholders and Fxlrtners to F)rovide the right suppyt to those in wj. And we'll Use our eXerien and expertise to moke o positive differeno in l¢xoI communities so ttM)se living in them con flourish.
Executive Director's rev Stephen Burns. Executive Director. Care, Inclusion and Communities, looks back on the year and the progress made by the foundation: q.. Mony of our residents and Communities are feeling the impact of the cost-of-living crisi How can the foundation provide suppo. During the year we olso odopted our new apw¢)ach to s(xial value. Adding social value is a key portofwho we ore ond something we're passionate about. By embedding this in our knrge-scale contracts. we're moking sure thot everyrt)ing we do provides o benefit to our communities. We hove a wide range of service5 to help residents. Our dedicated team offers practical and emotior1 help ond can connect residents with speciolised services if they re worried aut money or unable to find work. We a150 provide emergency gront5 to pEople who are finding things porticularly tough. We help people to find support if they're feeling socially isoluled or experiencing physical or rnental heolth iss. Q. WIKrt does the yeor ahead l¢)ok like now we've joined with Cotalysl? . The coming year is about getting closer to our residents ond customers. Our focus is on listening to what they need. We'll continue to wotl( side-by-side wilh our residents, communitie5. Stokehofders ond partner5 to unlock opportunities, co-create Services and deliver programmes ond activities that really make o difference. We help residents find employment ond develop new skills. supwrting pewe to occess better opportunities. opprenticeships, troining courses. quolificotions ond business SUF)Wrt. We want to help our residents to help theMSee$ and those oround them. So we offer grants lo Iwol community groups, the vduntory sector and individua15 to provide o service in Iheir community which responds lo locol need5 and priorities. We deliver a wide range of comrnunity initiatives through our network of community centres. including food pantries and other low- C05t food iniliotives. We've ochieved o h)t in the past 12 months but are n¢)w firmly focused on The future. I'd like to ttk Deirdre Moss for her hord work chairirrfj our foundolion and chompioning our work to 5uprK)rt our residenTS and communities. I om pleased to welcome Helen Edwards, a long standing member of the foundalion. who took on the Choir ro in September. We know ifs critical thal VIE continue to recognise and respond to what people need to thrive. I'd olso like to take a Lynent to remember Lord 8ob Kersloke. Chair of Peobody, who sadly possed owoy in Juw. He wos o remarkable man, well known for his kindness tts everyone he met. He worked tirelessty to improve people's lives ond wos F)ossionote obout making sure we put our residents and communities at the heart of our orgonisation. . Whal were the yeor's highli9hls for you? A: The past yeor hos been pivotal for us 0$ we successfully brought together ccxnmvnity investment teoms as part of Pe0b(Y and cat0st joining together. I'm pleosed to soy Ihot we've continued to meet oll our torgets and key rformonce meosures ond provide the support our communities wont ond need despite the challenges posed by the ongoing cost-of-living crisis. Executive Director, Care. Indusion and Communitie5 PCF R¢pprtaYAc¢Mts 2022.25
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Our vision and how we're working towards Our vision is to help our help our residents and customers become healthier, wealthier and happier. To do this, we put the needs of our communities at the centre of everything we do. We use years of experience and expertise to work with partners and residents to make a positive difference. We do this by. Building engaged and active communities Boosting income Developing skills and aspirations Improving mental and physical health PcFATrn Reportand Accowts 2DZ2.J IS
-Q I l Building engaged and active People are at the heart of everything we do. We provide support and advice to help them make a difference themselves. Whether il's managing one of our community buildings or designing and delivering their own projects, we're here to help them and their community flourish. Helping people to help themselves A quorter of our c(ynmunity buildings ocross Lorthn and the Home Counties ore run by manogement commitlees ond community portners. They provide services for their own communities. such os food Fxjntries. health and wdlbeing sessions. emthment support ond chiklren's Ixtivities. We've given our residents o ploce on the decision-moking pJrEI for the Thamesmeod Community Fund ond the Youth Peoe'S Fund. ArKI we've supported 123 sociol oction projects through our Cornmunity Leader5 Programme, which offers gronts of up to £5C(J to ktal pee (leliver activities that benef il their community. we' also working with grossroot ccnmunity grp5 to help them rr]ke o differen in iheir own commuitie& Supporting young people to lead We have a range of prograrnmes aimed ot young rpIe. encouroging them to leod os well as partiCiF)ate. Cxjr Young AM$s0d0rs programme works wilh I6-25-yearkIS lo help t1 idwtify orKI 50F on issue IF) their Iwol community. Some are even awarded grants of £1,000 to lest their ideas. Another programme. Peobody Advisors. gives 18-25-year-olds the chonce to addr5 0 live business chollenge for Peobody. During tt)e year. we w(Med with 119 young pe on our Young LecKlers Progromme, 53 of whom who went C to tecome Young Ambassador& Seven then took pjrt in our Peabody Advisors Progromrn New approaches to social change We provided training. support (and in six coses a wnt of £IO,O¢JO) to seven community orgon1tiOtr)$ thr(xJgh our Social Innovation Fellowship to help them deliver social change. The opprcoxh. known as human-red design and sy51ems thinking. is sUpr*ted Wdls Fargo.
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21 Boosting We help people to get better-paid, higher-quality jobs and reduce their debts. We also make it easier for people to f ind affordable childcare, which increases their chances of f inding work. A coreer that will last Lost yeor our Economic Inelusi¢)n Team hdFd over 1.100 people find a job. stort on opprerticeship (x access troining ond achieve quolificolions. They provided one-ttrone coreer odvice ond hdp wr¢ting Cvs, job OF)plicotions ond preporifKJ for interviews. Our fortnighty Job5, Training aTrd OpF¥)rlunities Bullelin helps peopfe firKI an owNliYiity thors right for them. More than 1.600 people joined our Peabody Jobs Fair in NOVemr 2022. We hosted over 60 emFJoyers arKI orgonisalions ond provided o dedicated Peobody zone offering (wr customers o wide ronge of services and SUPFJ)rt. We olso held online webinors f(tused on Cvs. opplicotions ond interview prerKJrotion f empkwiwt opportunities in growih sector> We kn¢)W thot for mony of our SIdents lock of affordoble. ktol and high-quolity chikIca is slopping them working. Lost yeor our portnership with BNP Paribos hdped 223 Fwple get chiklcore qualificotions so they con not onty work thern$e, but also enable ottws to Helping tackle financial worries Across Peabody we hove a variety of teams offeriry SFxialist odvi ond SUPF)Ort to help F0ple moximise their inc(me whotever their circumstonces, needs ond challenges. Peobc¥¥s welfore and benefit advisors make sure people ore claiming the right benefits and discuss options for tackling debt. We olso work closety with our wrtners to teoch pe hC TO rn(09e their money better ond show them Whe to go for odvice orKJ fin0101 help. We even hove our own website, Peerup Pe, which hdps Customers save money ¢)n their bills for fo. leisure and shopping with deols fr¢)m big brand During the year we tounched Support Finder. wr online thor gives residents o quick ond eosy woy to find hdp. With the dick of a bLJtton. users con occess a host of orgonisotions and online resources providing help with energy bills and food costs, as well as debt advice. Customers con also access information on governmeni funding and as515tonce. training ond education and mentd. physicol and emoii¢)nal well19 SUPK)Ort. I• PCFknnwl Repcrtwd A¢cw$ 20Z2.23
Joninrf runs her own chi.'dminding business u kvvl 3 Ll iikjiriiiidiiw LWlS¥ UI Porkside Community Centre. As o busy mum to an Lyght-month4d, Janine found juggling the coursp. ond famili life was made eosier as she could le(Jve ."fy'+.. her little girl in the free uechD thi'.p. shp. (>ttp.ndprl Pé CO&•i Je icuiiy vyThled up my ele> Th i Y¥1 expectations there are kn plS1n9 os a chikJmirth.- said Janine - rm go hapw to soy that I h¢x now started my Jsiness as o chi'.dminder. I'm still bearnirq and woukl loyc to cxFond thc bu•inc53 Qs my daughtcr oets Othr. I mode bts ot friends ¢)n the course Ond i tt)e childcare team aws g(we SUPFKJrt where needed a1 help&J me prepare for OFSTEO.. tryrI for wlvacy
31 Developing skills By giving people of oll ages better access to education, training opportunities and business support, we help them broaden their horizons and achieve their goals. Kickstarting a coreer Starting out on the career poth isn't olwws eosy so use OPFxYtuntties within our own organisation to help. Through the Department of Work and Pensions. Kickstort Scheme we hdpd 12 y(xJng get on the coreer lodder with Kickstort oCernents ot PeotKMYy. We're olso creoting leorning ond eMYMent oppcthnities ts young people with every new hryne we build. Last yeor we helped 206 peopbe interested in a career in ConstrtIOn get on apprenticeship throlh ¢Jur Supp choin. And we delivered inforTThition sessions and traineeships with contractor pjrlners. including Durkon. Berkeley Homes. Ardmore. and Mulolley to make sure oll apprentices had the best clM)nce of SUC$9. Supporting enterprise We offer a range of tailored support thr(yJgh our specialist enterprise progrornme. This inclvdes everyrhirvj from helping peo who wont to sei up their own business. to Iroining for eoty-stoge start-ups and businesses who wont lo grow. We provide.. Training and advi, including the monthty Peabody Business Forum. Help identifying interml and extemal funding opportunilies. Acce55 to our community centres, co-working spcKes ond commercial premi5e Support with tendering ond prctureffnt. Opportunities to nehrk and Ir(KJe through PeotK orKI wr partners. Lost yeor. we helped 476 local sociol enterprises ¢xces5 suppwf aTrJ resources. We also provided 81 businesses with opportunities to trade k)cally. Building business links The Peobody Business Forum helps build Itter links ttween businesses, k)cal outhorities. devekjpers, our supth choin and bcal communilies. The interoctive monthly sessions are free and open to busine55es and aspiring entrepreneur5 lo help encourage busine5S-tO- busine55 communicalion arKJ nefvthirrfJ.
James nvjje most of suppxt he recelved from Peatoty to his community project MaFia week (Moke a Film in a Weekend). Stortinq his icwrrw with fouTrJolion os a Comrwnity Leader arKI reNing a Community Leoder5 Gront wantcd to dcvcbp his PTogramrne further. JO he ! Offended Hatch's Business Hackcrthon pro3ramme ddivered in pjrtnership with the foundation ond then V+ent on to secure his pk in next level progromme. The Lounchptsj. to deloP his socitil "I pkin to use the kn¥le)e I leomt at the IKKkatrkx event TO devew o shc)rt. tonclse devotor pitch. This is going to be realty useful for me when I begin to orticulole my business to , ential dients aLw my netWk in order to James hos ¢>r tQ Wi51er MoFio Weekend as o Communty Interest Compjny wth Comwnies House token port in tyjr So¢iol Innovation Feltcthtshi
41 Improving mental and physical We all know the benefits of positive mental. emotional and physical health so we have a range of initiatives aimed at improving the mental and physical health of the people in our communities. We also have programmes to support them to become more active, resilient and confident. Tackling food insecurity With the increased cholknges posed the risiThJ of living. mry P in our communities are forced on o daity bosis to r[ke difficu choices befvveen heating. eating aTrd poying for essential living costs. So lost year we worked with Jr portners to sei up 24 fcKKI insecurity rKoiects to hdp households sobt on Iheir heekty slxp. One of those. Bubble and Squeok. is o sccial enterprise tru5ed ¢Jn stopping food woste ond promotirrfj healthy eating. Run by a group of entrepneUr1cl children from Old Oak Primary Schcol and our Old Ook Community Centre, it lakes editrAe surplus food from lctol businesses. markets and supermarkets orKI redistriblrtes it to ihe Ictol community on o'pay as you feel. basis. It supports over 150 people eoch week. We also Sussful p3rtred with Fettx Project on fvirannuol food redistribution event. We were able lo connect residenl vojunleer5 from frxid l>Jnks, pontries community kitchens and help disrribure over 10 tons of surplus food to over l.Cl)O households over the festive period. Championing well communities We help communities get ond stay octive. And we work with partners to bring positive heolth ond welltreiThJ to ¢Jur communities. Our Active Well Programme in Thame5mead helFed 913 get octive through o range of sporting (lIVIties. We were olso able to bring together Inlegroted co Systems (ICSS). Locol Authority Public Heallh teoms ond locol NHS services to improve health arKI wellbeing. Better mental health We take o holistic approach to improving mental heohh orKI wdlbeing Our Wellbeing Café at Chingford Hall offers sessions ond ocriviTies wilh POTtners. including the NHS. the London Borough of Wolthom FeSt, MTC Learning and Hornbeom. Ttt. provide activities to bcost wellting ond contr isokrtion. We've also partnered with the Core Commissioning Group (CGC) lo bring mentol health professionals to our Crisis Café at the Pembury Community Centre. They help suppjrt young peoFAe and reduce emergerq menial heattt) a(knissTons. Our Peerup digital lifestyle wèbsite olso offers o range of heolth orKI welIklng resources to help maintoin gcc(J mental ond Ftysical heohh. PCFknuol ReFrytdACcrnM?2I.2j
Tn r¥Jrtnprthip with HJfT ond The Fdiy. Proj4cl, we slorted The L10n F¢x*J Insecurity Neh¥otk. This pxriting npw partnership explor•s k)ng-1•mi ' suoIb communlry-led sdutions to t¢x The idea is io bring togelher housing ¢)SSCtiofics from ocross the copital with the £4ciNe aim of a)suriro Ihat no Londoner goe5 to bed hurory. , "Across the copttal. tKyJsing aSl00S ore . fundiro deliverinq o raTh]e of fccé-rekfted projects to supp(yt residents ond communities." sold Sohil Khon. Director of Community Strotegy. P¢rlnerships and Funding at Peatc(ly. "However, ', the scale of the c1th)e camot be cxldressed us ond our p3rtws alone. So we're pkosed to launch this imr))rtont initiotive with HACT and The Fdix Prqect to provhje a ioined-up reswnse to tockle growTrKJ focxl crisis in cMJr communities."
Empowering people with We want to help our residents to help themselves and those around them. So we offer grants to k)cal community groups, the voluntary sector and individuals to provide a service in their community which responds to local needs and priorities. For the post 10 years, we've delivered the Peobody Community FurKI with the LoThJon Community Found(rtion. T(KJether we work with grossroots orgonisotions ocross The copitol ond oword grDnts to deliver projects in the he< of our communities. Lost yeor we £l.Im. Our Young People's Fund supports community groups working with young people oged 11-25 to to¢e youth vioknce. We rrKJke sure their voices are heard by giviThJ them o pl0 ¢)n ttbe ponei that decides where the furKlirKJ Bringing people together Lost year. our Community Celebrotic4) Fd svprx)rted Feople to orgonise events and (1VitIes. It wos o speciol year lo reconnect with friends, families ond communities ofter Covid trICtIOnS. os well as time to celebrate Peabodvs 160th anniversary and the Platinum Jubilee. The fund oims to ng joy and unity to peO'S lives durirKJ these sKJnificont occosions. Supporting social action Through our Community Leodws Gronts we help to briw to life projett5 or octivifies thot support our vision of supwrting healthier, wealthier ond hoppier communities. This indudes activities thor. Bring the ccMnmLJnity together. Improve health and wellbeing. Help Fwle to improve their fiThinciol Vltselng. Building up local groups Our Thomesmeod Community Fund provided £60,0 to 35 kncal community groups ond partners last year to deliver a range of cultural and community projeth5 that benefited kxol resideM& Eight k>col peoFYe help us decide how our community grants are Imjrded. They olso act os champions for the wider community and. ore ombassodors for the fund. 24 PCF Amual ReFrS*T5 2022.
YourKJ p&)ple in Chingford 5LiccessfulW completed o Young Decision Maker5, Thru Life Menloring cryanise an acfivty vtsjld benefit people in ir bcol community. With supp)rt from our youth team, ttw orgonised o weekend rgsidentinl trip to Gi11 Park for thal young people oged 13-16. The main theme for the weekend wos team building. moking friaKls orKI hcmng furn Juvoume tried outthe zip wire durin9 the weekend: "&*1ll[la wi life VDU huve lo do thlngs ond r . think obcAJt it aThJ whatever happens. happens." sold Juvalime. Thays just I see it sometimes. The fact Ihat I'm scored of heights, I did it and . overcame my feor I feel gocxl aLxJLrt myself..
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Local As an organisation we're big but we're local and well-established but forward-thinking. Our size means we have the experience and connections to drive positive change and address challenging issues such as homelessness, underemployment or violence affecting young people. But our local approach means we know that one size dsn't f it all. By listeniro to sJJr residents ond the people in our ccKnmunitES, 4Ne're able to develop locol oreo plans ¢xldres5 the issues affectiry individual oreos. Through these we con focus inveslmeni where rfs needed and moke pkjns to improve porticular services or offer towed prcgrammes in some orea* In all the areas we work. our oim is to Co-ueole projects ond unkd( opportunities thcrt help people fkiurith ond focilitate tharoe that hJst5 o lifetime. PCFAnDwI Rwand Acc(Nhit5 2022.25 17
What we're doing in We want local people to benefit from the opportunities created through Thamesmead's regeneration. So we developed a local strategy that , focuses on making sure the people / and the communities that call Thamesmead home are able to'i flourish. 000 533,444 8,715 pTr Population of Greenwich and Bexley.as of 2018 (ONS,UK) Number of Peabody homes in Greenwich and,, Bexley How we're doing this 5PportI people to o¢hie¥e their bxtsDtlfjl: imkYwr¥J rKcess io troining helpiThJ resIdrtS ond oJstorrr5 into sUstaib epICent. We'rpalso provKIiThJ 4Xnts ot and wrth Icml y¢X5ng peop. l•lepJrtnered wth the TrJlitinol Childrw) Centre, To deli¥er o f indUse sunyner hr)li(kiy wr>jroM forthibjren with SFecioI ed0$lorl {SEND)aThJ thr familie5. Me ]n 40 chihgren look part a wide ror#Je of LKtivTlie5 ddivered by fxJ1WS, Induding mum SFXXts.yoga, trAJsinesses. Our wrtnershipwith y1k1 Ventures UK has hdFÉd many 51udents find wrrk aftergradLthro with qualifica$K In arE05 gjch as Flastering ar heohh and sofety. Sorne sttOents h(we otso obioined a ConsmKfton SkilL% CerknfK Scheme (CSCS) cord. p keepchihjren and ywrrfJ F¥¥de ¢)rwrysotiorffj 9rtY4)s h(h o In hv410 Imprtt for A totol of 328 thli took pyl FLthe wst fixjrwrs the Locol Areo Plon Trn n Thomesmeoj has £#xdiTrJted the MwriTrJs thiklren Ccrnunity SteeriThJ GrouB Ivs ffl(Je up of rewe5ernlative5 from ¢d 5thods. IhE public health seclor. kxol volthtory. ¢unrnunityaTr sctKI enterprises (VCSEsl oThJ Ictol stw. o de rorg rf ¢XlNihes. A further 162 In¢reqslng •¢xlal ¥dw. with our suppty chain we doThtted Materia and equiwrwt ond kyovided emF40yTrt and Ils tralning. we also cre(rt8J edLKalicnThbJ bJikJir#J. M 70 FeoF4ec¢ynpd orxl Bew. Thewrtnership's aim 21 PCF Annutsl Rwrtthj 2022.23
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What we're doing in
We're working in portnership with
sidents. Hackney Council. Save tt)e
Children, schools, health services and
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aims to improve the lives of almost
1,000 children. young people and
families living at Pembury.
0 0 279,665
000
6,843
Population of
Hackney as of
2018 (ONS UK)
Number of
Peabody homes
How we're doing this
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Our Pembury Children's Community has teen hdd up a5 o great example of to use the local community to encourage wider thinge. The Centre for Evidence and ImplernentotiC used cmjr project in their study of FA0ce.bosed apprS to reducing youth Violen for the Y(NJth EThJch FuThJ. They praised our model for the way it mobilises inv0h the kral communty to hdp understand h*>rf to stimuh3te wider systems thange. In November hosted the k)unch of as a bbeed kit at Pembury commlIty ctre. Dwewd tyoniel Prtjird the putJicty(NaikJble knts oim to Frnent d&2th frun catas trAeediro wor to arrival of air Susan FctraTr2.TK (Cabinel Member for GmmUnity Safety). representafives frorn H¢)d(ney C11 Qj The Baird Foundalionioined As did IKI rrL)ttErs. who FKNirvJ trugtcalty lost chikJren to knife crime. commit their lives to PEIS P¢F R¢Wt ¢iThJ Accwnts 2022.13 31
What we're doing in We're I•kIng with local stakeholders to engage members of the community in the things that they need. 000 276,700 2,797 Population Waltham Forest as of 2018 (ONS UK) Number of Peabody homes How we're doing this Supportlno leqrnlnw. ronge £4 Fwrommesto erwjroje rnlrvj. such as Re(jg fTOrn Ihe Start. fuTrJed by VINCI Faaliti which encourage5 children ar families lo toJether. Re for Schwl is onots prcgromn. suppmttl ty Puryty. whith lur¥Js o communty-kxjsed eocherto hdp c1kIn need exlrg lwi1h their mirg os t start tsoItend 140 Itxol resKIts. The fthwis o Winter WirJ Day in pjrmership ¥ Eden Proj Ccfflrnunitie5 and Or9JnicLea. The sécoTrJ heohh fe51Nal in p]rtnership ELATT. And the thKd annuol Chrismw5S Foir h¥0 l¢ThJ-Stondir Chiken's thurlvs 80ty B h rrnwniinity in hrmKJh. Thckling lood Pfftrtr. our Chingford Nall Pontrywpports Ihon IIXI fvmili•s o 6<W• money on thp. xoolise Bojsling hedth and wellb•irvJ: WeltseiTh3 cofé offw5 klY fr10-fo sessions fcf residents £3.OW in (rUnlO347 kdineSs. orscrhil 15c4jtffj. 32 PCF Anmal RewtLrd•u¢uiis 2022.23
E%Jnid bh)SSu frcffn shy to oTent. gainiThJ frierwts. f1t1)ll OPFQrtunities. ond new experiences. Ihanks to a tronsformattve ywih club. -I use(1 lo spend a lot ot time hongiro around tr Jrk wilh frierKts. Or of the workers opytr)ttd li aiid tokj Ine 01x1 I1 y111 LIUEJ iri Ilie ureu and invited me to come atjng. so I come with u fw friend& BefrKe l joined the dub. I s(ry I was o bit uilti.Kiol, vtily >ithiiiy Iv I . kneA. I felt nervous hovirrfJ to meet ond 50cialize wrth other Feopte. But in time throu9h otteThJing dub dthJtriNJ with the youth w0erS 1 storted KJ fed less rervous ond more confident to tmI1C. with nfw rffj)Ip.. Nthv I get to ploy rnre footboll as they run uctTVities in the coge. I talk to more people and rr Fe0 that live Ic1 to me and con thill with nnrl T gpt thp rhnnrp tn ty frrAE T hnvp npvf.ar Daniel fr<xn Leytonstone dnd for pfiva PCF Arnwl Reportand knouD15 102Z.U 3$
What we're doing in we' working with the local council and voluntary sector partners to co-produce localised, joined up and , effective services that build / individual and community, resilience. Ji 000 239,142 5,855 Population of Islington as of 2018 (ONS UK) Number of Peabody homes How we're doing this reatlry parlrwshlpx os o fcAJndirg member of I1<.$ [Kr Insthtuhons, we're to shape Ihe buoL4h's fubjre P]rtlP and tt41atcrntion. Pvovldlng fundiwihw Ihe Moke it HopFen Fund mrxe Ihon £IO.OCKI in wnts ts 11 to sutport projects Tkjt prc¥Th)Ye engaged acfivecommunities. The fund is O Fufwship tefv4pen Islingkn GivirvJ. Nekni HcJsiThJ Trusi. SyJthem Htwng Grw. H¥ Housing. c1 and Suppwliry locql Coc Gcod 15 0 corrmunity kitchEn discLWWI. P)sed in w HwJh take p2rt in cwkirg cb)>ses. wnlry orn ne#Jhbxrs ttthng oll ar Sho w7th ktol le$nIS ¢J¥J [OrrtS supw derMMunity $upporting •ntqrpri5C worked with Hdpon Your Dc¥Jr5tepto offer worksFoces crt wrcorrrnjnity centre5 in Arch1]nd Bmhill. Their Gcoj Neighbwr Scheme help5 vuknerab 54 PCFknyal R•ptytr Cl>jnis 22.23
Thomas. ¥¥1 lives on a Peabw Estate in I1r1. is cfft of 11 bcol resident5 who recently cornpted our Green Ski115 toster ¢our5e run by de. Londtj) Sqre. arKI the Skills ce. As as gettirKJ a CSCS Labourer5 Card. Thomos leamt atxwt new tethnokjgies, modwn ways ta build ond ochilyed quolifi¢oti In tmlth ond safety and environmental a%reneSS. Thorn W ttK finishiro the course will be the r1151 ¥l¥y LI111115l1 by yeS111¥ u Jub in our 3uppty ¢thJin. I le'3 working toward getPing his HGV licere finishing a scaffokjing course. Ourty is to o pool of taknted hx> e Nx) con +t sitè vf ilie forrTIVI HcAkw Priscfi. Peotts has committed to build o rth neightrthrttr3od wrth 985 new home5 . 60% of them offorda1e. a 1.4-ac publi¢ wk ond ftxilities for everycTh lo enity. PCFAnNJDI Reprr4Th1 AccowT5 2022.25 55
What we're doing in As part of Southwark's .Anchor Institution Network. we're working together with partners to deliver better economic and social outcomes for l¢xal people: 0 0 645,500 000 Population of Southwark and Lambeth as of 2018 (ONS UK) Number of Peabody homes How we're doing this lfflpr•ving ac<•sS to wpport and opporlunitiex weye sure r re5hnls h(Ne oppxlunilie5to EntrEpets liale) 10 kxol Wee 0150 suppxting Ihe Housirvj AS$10c Yrth Netsc10 deliver pYOYarrffi aimed ot reducin9 more finalI¥s1Qb We a0 SupFY)rt 10 hdp rE$entS ft1 scyr ofihe Clnge$ Iwre facirtrJ teo)use of the oThJol9 cOst4Mr , Provi&ing funlfiry aworr £42.5 of levd-upthwd fundirvj to dislritr#Jte tOWS5mOt5 l¥150¢15 in thèam. Ihe nwnÈeroftrDirdrq coLw EThgish for SFeakers of ofher Largua9e5(ESOLI oThJ nTrJths with RIPE Entryse BthA9 hetslth grnd wellbeing for ytyjllg p•opk hoste(l o Mentol Hedlh MoTtwsMyshop foryour issues relotin9 to fvir 7101 health I9h creffjive meuns, irKludiThJ wririThJ rdkirg. And we k)jhed a menloring service with Prwtdin9 business support. provide free enrerprise >JFPt to all Southwork customers in pJrtre5Fwp wilh HATCH Ente1$& In de5i¥ered a sPart.up Tr¢kfing vl•l•n¢w. we'reknrykirJ w1h Ihe ktol o ron9e kxal schcds in p]rtnershlp tt L.$ strOR9ytrTocir PCFAnnwl A?rt4CT$202Z.l3
In partnership with HATCH Enterprise. kyjsed . Eo5t Street Morket in Soulhwork. knE've ddivered dynomic opporruniftes for our ccrnmunfftes to develop their ideos ond kjunch Iheir businesse& HATCH delivered three Hackalhons thich were promted by our PeoLr¥ Ecorvjmi Our Community Cdebrotth Fund supported peopk acrc)5s Peat(¥ communities to wnise epnts arKI act5vfftes to hdp residents reconnect with friend8 f(wnilies ond communities ofrer Covid restrittior& It also coincided with celetxations to morf( Peotxs 160th amiversary ond the krte Queen's Platinum Jubilee. Inclusion team. Individuals ottending tt mosterdass styrfe opportunitie5 offered or forf busirEss Supp by a HATCH Prc4romme MorvJger to toke their ideas further. Thrwh our partnership we've SUPF¢)rted eight entrweneurs into 12.week wogmmmes to further devek)p tt1r buslness or sInesS ideas. Seven people occessed Ihe LatsnchK prcgromnE. arby c¥E joined the IncUtOr F¥ogramme ¢Jfter arrerKling the Ihree-hour HATCH Hackathon Mosterdoss- oll progressing to the nexr level FxcxJramme. sus¢ frcrn RoserKknk IRIFed orgjnise o Platinum Jubilee Frt]ty for her locol community. where the daing competitK)n quite competitive. ere some amazirKJ dancing with differenl dar s5." she sold. (thing ttM]t Ihe children's ccnWition h¢)J to hove winners as it was tots difficutrto thoose. She also said it wos a very di¥erse everrt Wtth bts of pee ioinir*J in. he wfv)le ccmunity tcok pjrt, which rnde for very enioyatje ty, Forticukity cffter the lost fv NICO wthojoined ore of the sessp)rs sai¢t"I ro21ty r$. The 4%tother hdd off for the Who aftemcvi enpryed this workshop- it m(NJe the whde wocess 4thich meoni fv event could be JIs1de so that we of business Onning a lot less daunting" IP PCFAfr6wl ReportandAccouM52022.25 57
Looking As mentioned at the start of this report. after joining together with Catalyst in April 2023, we're now a bigger organisation with even bigger plans. We have a new Community Strategy that focuses on four priorities based on what our residents and customers want ond need. But our aim remains the same - to deliver the greatest possible value for our communities and help people flourish. We'll continue with the vduable work we're already doing and invest where we can to further improve our communitie5 ar)d tt lives of ltr¥)se that call them home. We'll f(tus on the f(4kywing oreos: Tackling inequality and povety. We'll continue to colloborate with our FKJrtners to mximise the volue we bring to our communities. We'll deliver suppwk to those who need it ond use dota lo understond whays needed. We'll hdp provide affordob childcore, olbwing more of our customers lo gain empbyment and increase their skills. Embedding wellbein We'll look at the bigger picrure orwj give peo the skills Itw need to help Ihemselves and IfrK)se oround t1. This is the onty woy to make sure the chonges we're moking a sust0incj. Customer co-creation and sharing power. We'll use the combined expertise and skills of our residents. colkngue5 and partners to help ddiver what e(Kh community needs mosi. Communty activities and programmes= We'll use our increased size ond influence ro devdop notional and wn- regional partnerships which bring much-needed skills ond funding to kKal areos. We've olso chonged our overall approoch to give us a more bcal focus and help us better understand what works for our communitie5. By workiry rTh)re cbse with partners in Islinglon. Lambeih. Southwark. Hockney. Woltham Forest and Thomesmead we've already seen o difference in how our investments ore being used. And mst imponanlly of oll. we know We' providing services that ore truw needed. Social Value AddiThJ social value M01nS o key of who we are. We're doing whot we con to gain more social value from our speThYing deCisi(S so we con oddress more of the key issues foced by our residents ond communities. We've embedded social value targets in our lorge-Sco contrac15 to ensure thot our communities benefit from emploNient ¢)FP)rtunities. funding for grassroots events orKJ pyojects. volunteering opportunities ond much more. Our tEsidents have told us tr•ant to be more involved with ow community investment Work So we're making it as easy as possible for them to plty o port in deslgnlng Servi and moking decision& By doing rhis. we'll be helping io build the engoged. supportive and entrepreneuriol community thot's central to PeabcLty. Our new opprooch to social volue sets out how we'll rr11{¥ and rTrJximise 101 volue and SUPFLYI Ihe United Notion's Sustainable Devebpment Gools (SDG's}. These ore ouilined in the 2030 Agenda for Sustoinoble Devek)pment and aim to create o better, ftjirer wortd by 2030- ending poverty and inequality ond urgenlty oddressing climate chonge. 50 PCF Amwl Reportartl ion.ls
Wates is a kjng.tem p3rtner of Peabody. providing resp)nsrve repairs services to our Thevve ddivered a rarKJe of initiatives over the post that show 1heir commtlment to socmjl volue. These indude sending volunteer staff membws to careers days for young people. supporting CV v4ritiThJ ond holding interview skilLs i i. worksw. arranging repoir5 on our estates arKI improving communoS areas. TheVve also dtJKJted bcoks to PeotrKty aNJ portner organisotion c(Ynmunity centres throuth If st-. Wotes. Om portfwship with Chiklren's Bc¥J( Project. "Sccial Volue sits ot the hrt of Wate5, QS O long-iem, orooing commitment to SUPF#Nting individuals and ktol smoll businesses. the communtfies we work and the environment. IYS imFQrtant Th)w more thon ever. due to the sctial ecotvric pressures our communities a fwng. Ihat push for meoningful sociol value that benefrts Peatx)dy residents.. Jamie E(#1. Social Value Monager. Wates.
Partners We would like to thank the following for their valuable support in 2022-23: Addison Lee Advonced Building Ltd AmaaMated Lifts Axis Bayanix BNP Poribas Bow Arts Cotowst Chcdton Alhletic Community Foundation City Hall Regenerati[ Fund City ot We5tminsfer Clarion Housing Group Clifford Chance Department of Work ond Pensions Durkon Eost Lon(ksn Business Allionce EEM Effectable Engle Film Fixer Ginkgo Gor(lens Greoter London Authority HACT Harmony Help on Your Doorstep HS2 ID Verde Imperiol College Jigsaw Conferences KBH Buikgers Kinovo Group L&Q Lightside Uoyd Pork ChildM's Charity LMAC Group Lid London Borough of Be London Borough of Hockney London Borough of Hommersmith ond Fvlhom London Borough of Islington London Borough of Lambelh Lond¢)n Borough of Lewisham London Borough of Souihwark London Borough of Tower Hamlets London Borough of Wallhom Forest London Borough of Wondsworth London Community Foundation Ln Econom Aclion Portnership LCdOn FoLKf Allionce Lcx)don Funders London Srxrth Eost College5 London Wikllife Trust LSEC London South East Coles Monchester University Mory Minule Tnjst Mayors Fund for Lorvjon Ncrtionol Lottery Community Fund New Economics Foundotion Orbit PeoFYeValue Pilton Pkntific Purdy ContrOCfS Ltd FlOven5ume University Royol Bor(KJgh of Greenwich Royol of Kensirrtjton and thd5ea Saltash Enterprises Ltd Save the Children Sevilse Smart wo5 Sccial Value Portol Srx•rt Engkjnd Sureserve Fire and Electrical Sustran5 Systems Link 20 Tectonic The Aspen Institute The Felix Project The Housing Forum The South Eost London Chamber of Commerce Think Events London rsG Buikling Servi Trees UK of Brom Topcoat United Chorilies in HomrrtsrntIh ar Fulharn University of Monchester VINCI Focilifies Waterwoys Children's Cenlre Wotes Welb Forgo Youthbjihj Venlures UK 40 PCF xdiuoI ReFMory1 k¢wnTS
L. irw
Trustees / Directors / Advisors P•obody Community Found10 .Trust••s / Dir•clors" / Advis¢>rs "'Truslees ore olso the Directors ¢)f the Cc¥npJny) Deirdrè Moss. Choir (umil Sep 2023) Helen Edwards. Choir (from Sep 2023) Thelma Stober, Vice Choir Peter 8affce D•irdre Mos$ Choir (until Sep 2023) Deirdrefftned the Peobody ClynTnITy FOundoTk)n ("PCF" or "Choritf) in November 2017 been opwinred to trPeob>Tri1518oard In June 2017 Idkmng thè PetsblyI Fomity Mosoic in 2017. there She wos on ihe Btsjrd frn SepiembÈr 2014. Deirdre has ed thÈ ingJMnce Indry for over25 wrs wilh FTSE lQJccrnponie& Spea¢thyr¥J HR. Fw>S led rMsorchan9e5 inv¢Yving large, divers w(%kforces. She hos HR IISuhorKyccrfnFWiy. ond c150 $its 0ntheadYiSLYY9p of o Ltythn-ba5d truining ctsmpony. COre L1i¥ersity 1S5W5 throughout r¢oreer on¢ £Cle5 to In o ¥ohJniory ¢OPtiCitylN Ihisorea. Christine Twner Kathrina Winbeck Shreyo Hewett Maffhew Martin Korima Mbarak Catherine Execulive Director of Care, Indusion and Communities Stephen Burns Dire¢lor of Community Slrotegy. FurKlraising and Partnerships Sahil Khan Secretary Sorah Cameron Company No 01267728 (Registered in Waks) Charity No 271731 (Registered in Engkjnd and Wales) Registered Office 45 Westminsler 8ridge RODJ. LoTrkn. SEI 7JB 8ornkers Coutts & Co.. St Martins Office. 440 Strand. Lcrton. WC2R OQS. Auditors KPMG LLP, IS Cortha Square. Canory WIrf. Londcffi E14 5GL Solieitors Trowers & Hamlins. 3 Bunhill Row. London. ECIY 8YZ Katharina Winbeck Bogrd Member KofhoiinQ 5tyned the PCF Boord S tesident member Muy 2021 K(rthaiina 15 PQ55ionoie 5oriol losrne5S. SPeCidiSes in sociol ond deliVE PLlitieS. pfo•ct5 ofKI pro9romme5 in London wiTh o pkice bjsed cnd Who 5VSfern opweoch over the past 20 yeors. ShÈ tutteniiy holds the Position of slioiegic for iransport ond VWDnm?nt ot LIyOn CowK1lsor has previou5 held PO$i*ions wilh Transport I Lth)don. Audii eemmiSSiOn. the LorrtlDn Bryoughs of Tow orrleis & Lambeth oThY the NHS. 42 PCF AnrNJd Rvrt(d knMis2022.23
Helen Edwords Choir Ilrom Sep 20231 Peobrytyr5t BDord mmber Since July 2010 ond o PCF eotsrd rnernber since 5epmber 2014 Helen served as Deputy perrnQnt ar Oirector Generol ot The Ministry •f HauSin9. Communifies ond Lvcol Government's (farmerty Ihe Departrneni lar eDmmUnit5 and Loccl Guvernrnentl Prtviaus roles inclth1ed Threcmr Gerwal Justlco ¥1 1he Ministry ol Justice ond Chief Execuiive W51nODS aythe Notior1 Offendw Ncnoqemenf Service and Nocro. o noiionol Sociol justice charity. is non-execuijve Directo¥at SoLrth Londmand the Thelma Stober Vice Choir Thmo siober is Heod ol Legol Peier Boffoe Btsttrd Member Peter ityned tr Peotr¥)tyTrusi Boo oso resident Wrd in MOY 2018 ond the PCF Bwrd in Sepiwrkner 20L8. He 15 Chrisline Turner Board Member With ¢)wer55 ye(If5' exPere In housirq 05 g seni¢y execuiNe, b)ard mernb2r ¢hid regukntQr. ClwiSlinÈ'S expertlse Gtr4vnmenfs VKlim5' Panel (thswj on 1rytr41ry the crimirK juthce 5V51tYn for vthms of crime is o450a tTusiee for Lonth Emerger5 Tn. ShÈ is Chtsirofihe G1 TOAW of tr Lofwjon MissK>n. deknpmenr. £051 homE (wnetthp. regenwaih?n, custOmEr inv0MnI. s i5 poriKcY inferuted ITr tt of hsir to rn¢¢t rtsn9eofneeds. thich Souih L(th. He is o Tiusiee of Soulhwork and Deplord meth1$1 Churth. He is 0150 0 Prev#%0 nmbef f affcwJfK1 rneniol heolth 4 LOtMStr) iwhs. He Is o s h05thampioneoS cu510m¢r involvement and standryds of service diwery. Thdmo briws odditioncA 5kjl5" 5Tixner5wvKes. hoJSiw secfvr eXpertised gover11 Fx4iCY. hTr)ry schorA octiry os the Link Gy4ernty for eqvulities nd tU[r1M. been Shreya Hewett Board member Shreyo j(Mnedthe PCF Pthrd as sIdent 8oord MLbl JortuQry 2021. Shreyo Hewen 15 -founder ofGRASP. o thldren. eallh ond hIene Ir#Jh? in 2021. AS O 4 rnsjdenffor the105t •ghryeurs gnd th¢ mother of ihree young chiren. shè is Malthew Marlin Board rnember MolthI01ntd The Peoboty grd tss o rÈSideni member in OecembEr 2021 He served Cotow's eu5frx Experrte Commtnee befryE tt Karima Mbarak Board member nrThJ NnÈd The PCF 05 nwiber Ncpmber 2020 Karin 15 Sth)ior FinC¥tt Actcvifont ot Catherine O'Kelly boqrd Member Cotherine become o Fomity mo1¢ Community Foundaiion 8ourd rnemi>Er February 2016 joined the PCF Bwrd In November 2017. She is the Mofrf)gln9 Oireciorof 8rhlsh G05Energy. Colherine hos hthy sell POSiTion5 af Cenrncu incknding Mancg1Thg Director of ctra'S Irish Subs1ry. Bord Gè15 Energy. Cother1.$ CeeT hos focused on the ener9y rTh#wiry. IrUdIr iniernaiic¢rt)I energy Stsaiegy with can5diancv Booz & CorDWry. Qré lowcorbon ener9y policy desiw ot the UK'S Ctybon Trvsr. 10 years. pr(>fessionrl eXperiee cr¥JnTKg I111Th9 ttetJSury. storemeni ol occt>Jn15 ustomer experience. Mailhelrf ng5 0 unique pvspecie 10 Ihe bwd. As • Shed (n¥n•r. 's PQSSKingie oixwr puttiNJ the e0 rEsMlen15 ai the trecrt of peobotys de0C rnoknr possionote rJrntc•mrnwty gagerrwi etytyyeor5 elopmeny, p(ytKulody in cross- cuhurol settings. ho5 g 8A in Hisiory EconorNcs trryn the Univer5iry of Oxford,ond Ckgnd in ecarthnic pdKy QUIp ond fiwnciol trethr. Is an od¥w)fe f Slfwhenwwj WTh we(TT. e57otlishEd t)ord.nn1 coled.Keeplry in 2018 to erhnic Mltyba¢kgr tothJlnge tobD05 mfvji rnenid twhh. PCF Ardwl AeptrOhdA¢e•wft$2Q22.25 45
chfa Vire•i**o£ '. Peabody
Financial review Flnaneial p•rformance By adoptirKJ the volues ond culftjre of the Group The Chority hos reported on overoll surplus of £250k in the decision moking process the Trustees are for the year ending 31 Morth 2023 (2022" £5.127k confident thot Chority demonstrotes pK>sitive surplvs). The moiority of the Foundotion's fundirg is engogement with stakehokyers, o reputation for high receivoble from Peabody. with the 1 agreed duritvJ Stondords of business conduct ond its commitment Ihe Group onnuol budgeting prtxess. The Chority to bng lem. sust01ble svccess and accordingly to adopts its operotion5 to ensure that outcomes con Trustees. complionce with 5172. be mointoined within a fulty funded bolonced tAKlget. For 2023. the level of expenditure was than originolw planned in the budget. whilst the intro Group funding m01ned. This is due to the timing of community projects ond stoff vaconcies. As at 31 March 2023. the Chority h¢ reserves of £34.2m (2022: £34.Oml Susloinqbility Statement The Charity, as o wholly owned subsidiary of Peabcdy, oligns its activitie5 and strategic priorities wrth those ad¢Jpted by Peobody. including the Sustainability Strategy 2023-2026. All 5ubsidiories continue to work towards meetiThJ energy efficienL target5. All of PeabOS new homes in the Greoter Lond¢Jn oreo meet GLA environmental stondords meettr LcAKlon Pbn guiddines, which ore set atrrt)ve minimum pbnniThJ and building wulotion Srftion 172 StOt¢m¢nl The Trustees ore owore of and ocknowwe their re5pon5ibilities to promote the success of the Charity for the benefit of its stokehokjers 0$ o whole, in accordance with s172 of the Compjnies Act 2006. When fulfilling responsibilities in occordonce with s172 the Trustees IKive regard to what is in tr Peokxth is committed to environmental. 101 and besi interests of the Charity and what is in the rrKJnce (-ESGI proctice. We hove releosed our besl interests of the Peobody Group (the-Group-) new ESG reky)rt this year and received third poty accredil0ti( from the Certified Sustoinable Housing including the motter5 sel out in section 172{IXa) to (fl kibd. The Choritys W stokeholders ore set oul in the earlier sections of this rewrt. including other chariTies. Locol Authorifies. community groups. volunteers, resident5 and olher beneficiaries of the Charivs services ond private sector wrtners. The cxoup Annual Report and Accounts (the"Group Accounts") provides further detoils of the Group's key stakehoklers. The Trustees have engaged with beneficiories and cornmunity Partners, os key stokehdders of the Charity. Engaging with these stakeholders helps the Trustees to manage the Chority's principol risks ond hos enc(wroged the Charity's Board of Trustees (the~Board") to move toward a place-bosed approoch. This inVoe$ a greoter focus on colloborati¢)n and ctrcreorion for the greotest impoct. instead of direct delivery. with on initiol focus on Thomesmeod. Woltham Forest. Hackrw, Islington, Southwark and Lombeth. On 7 Jure 2023 Peabc¥Jy published its Sustainable Finance Framework (°SFF"). The objectives of the SFF are close linked to the Sustainable Reporting Stondord for Social Hovsing (-SRS-) and include.. Renovcrting and retrofitting existirKJ homes to improve EPC ratings arKJ energy efficiency. ond proiecrs to protect os mony peop as possItre from fuel poverty and high heoling bills. ting access to ewric chorging 5J)ints in Peob) neighix)urhcoJs for t¥)th residents and employees. Peobody's oim is for oll its vehicles to be e]ectric by 2030. Plocemoking and yosects to improve green sFxJces and wblic reolm. helpiThJ lo moke a positive difference for heolth ond wellbeing. Continving to build genuinely offordoble homes for people in nced. Projects to support residents commvnity rttws deli¥erirvJ drongn9 prcgrommes aimed ot children ond youro people. Providing dedicoted personol support designed to prevent or allevTrole unemployment ond low F)ay omongst PeabThJy residents. A detaibed progromme lo reduce cart>on emisslons ond provide supFxyt for people living in Peobody neightovrhc(&ts to do so. The Trustees consider the likety ccrfwuence of arry decision in the long tem in accordance with the Strategic objectives of the Group os set out in the Group Accounts and in line with the Cl)ariVs wjls to build engoged octive communities. bcx)st Incomes. develop skills and osplrrrt$. improve mental and physical health. wilhin the budget ond risk copocity ogreed by the Board. The Trustees also adopt the Group's opprooth to envrronmentol. sociol and gfftrnance ("ESG-) matters. PCFANWI Report+> AccoUnys?7. 45
Financial review continued Furttr information oEx)ut Peobcmws sustoinobiliTy proctices con be found in the Group Accounts. avoiloble ¢)nline at Ihe Group's website (www. peobody.org.uk}. The imwct of the princi1 risks ond uncertointies offecting the Company, os set out obove, continue to be coful monitored and considered. The Peobody Board ond the Board a confident they can meet ir responsibilities to residents whilst olso rneeling Peabotys ar the Choritys financial obligations. Principal risks and uncertainlies The risks SF)ecific to the Chority ore rn110red regularw by the Board ond toke into ocCCnt the environment in which the Charity operates as well os the Group's risk oppetite. They ore not unexpected ond ore typicop of the sector. Foilure to mointain an effettive heaifh ond safety vironment to protect the people, processes ond the bU11n95 in which we operate. Non-complian with reguk71ions for prolecfirKJ information ond people. Governonce . Not safwJrdirrfJ vulnerable usirKJ our The Tee$. ReFQrt pJges 47 to 51 and ts GroLP services. Accounls provide details on compliance with Foilure to ensure rotxjst contract Margement and applicabk kiw and regulations and the National firncial control procedures. Housing Federation ('NHF') Code of C)vernance Mismanogement of organisatioThil change, (2020 edition). poor systems and dcrta. or r-coMplI0r wtth processes ond policies. Failure to invOe our beneficiaries arKI community portners in decision-moking on servi improvement and local pljns. The Trustees Rerth prDvMs further Infor3t1¢ on Future Plans (If poige 68. Further onatysis of the key strategic risks faced by PeoExxly ond its subsidiories ond 05sOClOted risk mitigotion a provKled in the Group Accounts whith can be found at www.peab)dy.org.uk y Order of the 8oord If not monaged effectivew these risks can resu in nwjative finoncial. reputotionol. or operatiowl rfomonce impocls, regulotory iniervenfton. or Significant ho people. Risks ore morKJ9ed continually, and actions are idenlified and implemented lo mitigate risks. The Boord provides regulor eversight of the risks end mitigoting action Key conlrols in operation this yeor inclLKIe.' Colleague training on Grcwp prcxedures ond specific troining for services. ond hoving sofeguarding reporting processes in pl(Ke. Troining includes Health & Safety, t)ata Protection and Sofeguarding. Quarter DBS checks. orBJoing monitoring ond oversight of Fire Risk Assessments. gos safety checks. and Heolth & Sofety insFrtions. Reporting of IIdentS of nOn-Ccpl10n to Ihe Heolth & Safety Commimtr ond tt Sofeguardirg Penel for corrective action. Locol oreo plons to coter to bcol needs ond SUPFX>rt l(ol F)Ortnerships. with on eng0gent model in 0¢e. Hden Edwards Choir 6 December 2023 The Charity benefits from the Group's fromeh*Nks and processes for overoll risk sofety of facilities. 46 F¢FAn1 WrttrAcCCUlts 20n.23
Trustees. annual report The Directors of Peabody Community Foundotion are the Trustees of the Chority. The Trustees present their report, together with the audited financial statements for the year ended 31 March 2023. The financial stateme$ have been sxepjred in accordance with FRS 102. the Finonciol Reporting Standord Applicoble in the UK ond Republic of Irekjnd (septeMr 2015) ("FRS IOY). the Charities In fulfilling its obligations under both codes. the SORP (FRS 102}= Accounting ond ReF)orting by Group follows practice drown from supporting Chorities Stotement of Recommended Proctice (Ihe guidance. The next independent assessment of SORP-). the Comwnies Act 2006 ond the C)rItIeS complionce will be undertaken kiter in the current Act 2011. rinoncial year. odherirvj to the Peabc¥ Code of CtyKluct. vthi¢h is bosed cm) the NHF Code of CO4Cl. Qbjectivvs and principal aciviti The Charity is a community development organisation operating in Greater London and its Surrounding area5. It focu5e5 on sectOr-0d1n9 community progrommes which make o real difference to Peabody Trust's (°Peobodn residents and their communities. Peabody is committed to continued investrnent in community progrommes. Plans ure included wilhin the Peobody Group (the -Group") strotegy 2023-2026. The Strotegic Rewrt poges 2 to 41. which forms port of the Annuol Report. oullines the Chority's objectives, octivities ond olso covers performonce for the yeor ended 31 Morch 2023. In setting our objectives. annIng our activities and rr¥)nitorirvJ our %rvices. Ihe Chorivs Board of Trustees {the-Boord') has given careful consideration lo the Charity Commission's general guidance on public benefit ond the Trustees can onlirrn that the Charity has met this criterion. During the yeor. the Peobody 8wrd on beholf of the Group was kept updated on. ond provided oversight and challenge in relation to. the Group's complionce with the Regulotor of Social Housing ('RSH' or 'the Regulator.) Regulatory Framework ('the Regulotory Framework.). including the Govemance and Finoncial Viobility Standard. The 8oard hos been briefed on requirements and guidance from the Chority Commission ond relevant charity low. The Peobody Boord ond Ihe Board take their re5pornsibilities under regulation and relevant good practiee guidance very serious and have token appropriote steps io help ensure compliance with the requirernents set out in the Regulatory Framework ond thority bw. Peabody ond irs svbsidiories a committed to transparent ond tirne communicotion with the RSH. Peobody is roted as A3 (stable outlook) by Mood¢s and A- (negutive outkM)k) by Stondord & Poor's {Glotx)I RoiirvJ). Roles of the Trustee Bourd ond Committees The Peabody BcM]rd has overall responsibility for Group strategy and monogement. During Ihe finoncial year ended 31 March 2023. there were nine Group committees.. Audit and Risk Committee. Communities Committee. Customer Experience Committee. Development Committee. Rryulatory Framework Finance and Treasury Committee. Nominotions ond Remuneration Commiifee. Thomesmead The Charity is a wholw owned subsidiary of Peabody. Committee. Core and Support Committee and Asset During the year to 31 March 2023, Peobody and Monogement Committee (established N¢)vember its principol subsidiaries {including the Chority) 2022). applied the prin¢iples and provisions of the Nalionol Housing Federation ('NHF') Code of Governonce for housing ossociotions (2020 edition), (the 'NHF Code,). Peobody has substontiolty complied with the requirements underlying Ihe principles bosed NHF Code. Peabody ha5 also met the principles of the NHF Code of Conduct (2022 edition) Ihrough Porticulors of the Trustees who served on the Brd during the yeor and subsequenliy ore set out on pages 42 & 43. The Trustees ore covered by the Group's directors. ond officers, indemnity insuronce policy. These Committees support the Peobody Board ond are accountable to and report to the Peabo Descripiions of the work of these Commtttees can be found in the Group Accounrs. PCF R•ptrt Accofftts 2022.23 47
Peobody hos deMonrated its commitment to good expressed its thonks to Deirdre for her leadership governance and robust arrangements proportionofe ond guidonce during her tenure. Boord member, to the Group's size and complexity tojether with o Helen Edwords. wos OPKK)inted os Chair of the Boord continued focus on improving compliance cultu. ond Communities Committee by Ihe Peabody Trust Further information in relotion to the govemonce Boord from September 2023. framework for the Group is set out in the Group Accounts. As port of the merger with Catawst Housing Lirnited, the Communities C¢Jmmiffee welcomed additionol The Peabody Board is occountoble for the system members Thelma Stober and Christine Tumer of risk monagement and the internal contr from the Cotawst Housing Limiled Board. and fromework in place for the Group and for reviewing resident member M¢Jfthew Martin from the Catalyst their effectiveness. Risk is monitored, monaged and Customer Experience Committee. Motthew Mortin mitigated in order to minimise. for example. the Subsequent left Ihe Communilies Committee (on likelihood and impact of financial loss. compromised 24 November 2023) to join the Group Customer service delivery. damage to our reputation or Experien Committee. noncompliance with law or [all0n. The Group's approach is Ihat risk con ond should be token to achieve our business objectives. provided thot it IS justified and octivew managed. The Peabody Boord keeps the corporote slructure under review and will consider further changes to streamline the enlarged Group. white monoging risk. delivering quolity services to residents and oihers. and making su the Group has both The capacity ond copobiliry To deliver its vision. All members hove access to the advice ond services of the Chority's Secretary. New members undergo an induclion progromme to ensure they hove suff icient knowledge ond uThIerstaThIng of the (tiVItieS of the Charity, Peobody orKI the sedor within which we ¢¥erate. The progromme forms port of the ongoing development of toord members skills and leaming and includes.. Briefing session5 on governan. strategy. finance ond risk monogement. housing services ond community investment. Informolion lating to current issues within the sector ond those 4)ecific fo the Charity and the Committee. Meeting individualty with the Choir of the Charity Meeting with key members of monogement. including Executive Director5 ond Heads of Services. othef W personnel. Troining opportunities such 05 attending NHF webinors ond industry briefings. A subscription to Inside Housing magazine. Provision of key governance document5 a5 port of on induction txjck comprising operoting regulations. incorporoTion documents. Peobody's Code of Conduct. tems of fereTrce as well os Group strotegies ond policies rebevant to the specific role. Visibility of, and an opportunity to c¢Jmment on, Committee packs and meeting minutes. Board members sit on the Communiltes Committee (the "Committee"), which meets alongside the Board. The Committee exercises delegated authority as defined in the Group Govemonce Framework in re1otion to the followirKJ'. Provision of strotegic oversight of community inveslment and community development aclivilies within the Group whilst supporting Peabody's strotegic objective of helping people flourish by moking a positive difference to the communities we serve. Designing and devdoping the Communities and Peobody Community Foundotion Slrotegy in portnership wilh the Peobody Executive. pri¢y to recommendation to the Peabth Board. Scrutinise and oversee the delivery of the Community Investment Slralegy Monitoring the performonee of ihe Group's commurnity cctivities. including portnerships. direct imFQCt beneficiaries and on wider communities. Moking recommendotions to the Peobody Boord in relation to major proposals. MonitoriThJ inlernal controls and matters with New members olso porticipate in visits to build signifi¢onl impli¢otions for the beneficiorFes of the a deeper understanding of PeatK# homes and Group s community work. services as well os community schemes ond initiotives ond meet Peabody colleagues and residents. Board Recruitment. Indurtion & Tmining The Chair, Deirdre Moss. completed her Service with the Boord in September 2023. The Boord 4• PcFAnr&s Feptyr¢r kccJDt5 2022.23
Trustees. annual report continued Board Effettiveness - Self Assessm•nt The Board undertakes regular forrwl evaluation of Its own performance and ¢ompteted o skills wie at the end of 2022/23. Due to the merger between Peabody ond Catolyst ond the completion of the Peobody Board external governance review. the Board's 2022/23 self-ossessment was deferred, and a full assessment will be completed in 2023n4. (l) Peter Baffoe a0 served os o memter of the Peobody Board" the Customer Experience Committee: ond the Commitlee. The rernuneration shown in the toble represents his PeatKxJy Trusl 8crf)rd membership. (2) Hekn Eth4ards a150 served as o member of the PeotrxW Board: the Audit and Risk Committee: the Choir of Core ond Support Commitlee and Ihe Committee. The remunerotion shown in the tab rewesents her role os Peobody Trust Board member and Choir of CO ond Support Trustees'/DIreetor Interests None of Ihe Trustees held ony beneficial Inte$t in the Charity. its parent undertaking or any of its fellow subsidicries during the yeor. except in the cose of the resident Trustees. Shreyo Hewett. Korimo (3) Deirdre Moss olso served as a mernber of the Mborok ond Kothorino Winbeck in their copocity Peotxxty Boord m@mr. Chair of Town and as residents of the parent undertoking. Their legal Country Cwntry Housing., the Thomesmead agreements with Peabody in re¢ to their Ivynes Commiltee: the NomirK3tK)ns and Remunerotion ore on the some terms ond conditions os those Committ& ond the CommiM. The remunerotion of other equivalent residents. In their relationship shovm in the toble reF)resents her role os Peobody with Peabocty as tenants or shared ownership Trust Bojrd member and Choir of Town and leaseholders (os appropriate). they cannot employ Country Housing. their position os a board or committee mernber to their advantage. In October 2023 the Nominotion and Remunerotion Committee ogreed Kothorino Winbeck would continue her role os on independent memtser of the Boord ond Communilies Committee as she is no longer o Peobcxly resident. Some Trustees stt on other tx)ords ond committees in the Group, 0$ disclosed on pages 42 and 43. (4) Thdma Stober served as o member on the Cototyst Housing Limiied BcM]rd.' the TlMe5Me0d Committee and the Comrnittee. remuneration shown in the lable represenls her Cataw Housing Limited Board frmbershIp. (5) Christine Tumer served os the Choir ol Rosebery Housing Associotion" o member of the Catalyst HousirKJ Limited: the Cusromer Experien Committee ond the Committee. The remunerotion shown in the tobse represents her ro as CotaWst Housing Limited Bjrd member and Choir of Rosebery Housing Association. R¢muneration of non-ue¢uliw C•mmunlties Committee Members The nonxecutive members of the Committee received remuneration in accordonce with the Peobody Boord and Committee Member Poy ond Expenses Policy. Full disclosure for eoch role as ot 31 Not all Committee members decided to occept March 2023 is provided in the toble below.. Fxiy ond non-executives mentioned in the table oly)ve were oll poid by Peobody Trust and receive rK) remunerotion from the Chority for serving os Irustees. Catherine O'Kelly eknted not to receive pcry as a C(xnmittee member. vel of Frt)y Peter Boffoe (l) 15.C The levels of pcwment per annum that the Committee members named obove are Wlly entitled to under the Rules of Peobcxty Trust and the Boord and Committee Poy ond Expenses Policy odopred by the Peabody Board in Moy 2022, with effect from l April 2022. 0 (per onnum) os follows". For Committee Chair / Principol £18,500 Peobody Subsidiary Chair For a Peobody Boord Member For a Committee Nember Hekn E¢Jword$ (2) I Shreyo Heknft 185C ISMYJ l<orimo Mbarak cId Moss{5) IThelmu St0btr(4) I Chrfsiine Tthier(5) KathuriThi Winted IOXK* 14.CO) £15.Ot)O £7.500 PCF MepDrtmdAKowt$ 2022.23 4•
Trustees. annual report continued Stakeholders, su5tainobility ond tronsparency The Group (including the Charity) continues lo exerci o strotegi¢ opproach to influencing by building relationships with a range of stokeholders and policymakers. These include representatives of locol. regionol ond national govemment; Peabctys funéers ond regulotors., ond ddivery partners from a number of sectors. This engagement also feeds into the work of representotive leS such as the G15 Group. the NHF ond the Chartered Institute of Housing, to influence policy decisions in the seclor. This approach has helped Peabody to deliver on its Strategic goals ond ochieve tt 50cicI purpose expressed through it5 mission stalement. An example ot this is in Thamesmeod. where the strength of Peabotys rekitionships with stokeholders ond its partnerships wilh the London Borou9h of Bexley, the Royal B0h of Greenwith. Int•rnql controls and risk monag•m•nt the Greoter Lonéon Authority oné Transp for The Peobody Board is occountoble for its system London omong others will underpin the success of of risk management and the internol control the Thomesmead regeneration progromme over the fromework ond for VIewIng their effectiveness. yeors to come. The sysiem of risk monogemenl ond inlemal control is designed to monitor. rrn0ge and mitigate the risk of foiling to ochieve business objectives. It can only provide reasonoble. not absOle assuronce agoinst moleriol misstatement or kJSS. The system of risk morwent and internol control olso exists lo give re050noble ossurance obout the reliobility of finonciol ond operotionol informotion ond the sofeguording of Peobody's assets, services and interests. Reserves policy The reserves policy is adopted by the Board and sets desigriated reserves including Deferred Consideration and Fixed Assets together with the Operating Reserve. The Charity's Reserves Pdicy is to maintain sufficient level of reserves to enable normal operoting activitie5 to continue over o period of up to 2 months (the equivaknt of approximately £1.5 million) should a shortfoll in income occur and lo take occount of potential risks and contingencies ihot m(ry arise from time to time. The Chority's free operating reserves. which ore defined as those serves which ore not committed, restricted or designoted. totolled £5.3 million at the year end, higher thon the minimum level set by Trustees. peatY is committed to being open ond tron5wrent in the way we conduct our business ond interad with the Chority's beneficiorie5. Peobc believes in being attouniable for its attions. spending and performance. by demonstrating how it delivers value for money. The Grovp publishe5 informotion about its priorities. slrategic goals and performonce and how it utilises resources on its website. Specific informotion aboth the Charivs work is availae on request. except. for exampte. for legol reasons or on the grcNJnd5 of dota protection. personol confidentiolity. commercial confidentiality or practicolity. The Group Audit and Risk Committee (the -ARC") provides oversight of ihe Group's system of risk management and internol control on behalf of Ihe Peobody Boord (as the porent compony for the Peobody Group) ond the Boord and regulorfy reviews its effectiveness. The Group's arrongements in respect of the system of risk marogement ond internal conirol cover the Charity- Future Plons Nofv4ithstanding the principal risks and uncertainties set out on p)ge 46, the Charity will conlinue to invest in community progrommes in accordance with Our Future Prioritie5 as set out on p]ge 38. The risk review process Stalement ol going concern During the yeor, the Peobody B(KJrd and the Group The Board has a reasonab expectolion That the Audit ond Risk Commitree focused on ensuring that Charity has adequate resources to continue in o robust risk manogement framework was in pla operational existence for ihe foreseeoble future. across the Group. There is a programme to keep teing a period of at thst e1ve months after the all risks ond the mitigating contrds under regular date on which the report and financiol statements review via cyclical reports to the Group Audit and are signed. The Charity iherefore continues lo adopt Risk Commitree ond reports ot leost twice yeorly the going concem basis in preparing ils finoncial lo the Peolxty Boord. The Group hos Ll key risks statements. outlined in its risk register which wos opproved by the Peobody Board on 25 May 2023. These risks 0 set out in the Risk section of the Strotegic Report in the Group's Annual Report and Financial Stotemenls Considerotion of going concem is further documented in note 1.2 of these fIrncIal statements. 50 PCFknnual Repryr(rdArnJm$ 2022.15
Further information on risk. internal oudit. monitoring and conTrols is set out in Ihe Group Accounts. Statemenl on Internal Controls Assuron¢• - Peabody Group The Group's crrangements in respect of the system of risk management and internal contml cover the Charity and are out in detoil in Ihe Group Accounts. The Peobody Boord hos delegoted to the ARC the regular review of the effectiveness of the Group system of internol control. whilsl maintaining ultimote responsibility for the system of internol conlrol. The Committee reviewed the effecliveness of the system of internal wnlrol in existe1 in ihe Group for the period commencing l April 2022 up to the date of approval of the Group Accounts. ond the annL1 report of the intemol auditor ond reF)Orted to the Peabody Board thot it found no significont weaknesses in the system of intemol control. External Audilor KPMG LLP will pursuant of section 487 of the Componies Act 2006. be deemed to te reappoinied and will therefore. continue in off ice. Disclosure of Information to Auditor The Trustees who held office ot the dote of opproval of this annual report confirm that. in so for os eoch of the Truslees is owore.. there is no relevont audit information of which the Chority's auditor is unoware., and the Trustees have taken all steps thot they 0ht to have taken to make theMsee5 aware of ony relevant audit information ond To estoblish thot the CharlS oudifor is awore of thot infomKJtion. By Order of the Board Helen Edwards Choir 6 December 2023 P¢F R*wtand A¢c¢yJfbiS 2022-25 51
Statement of Trustee< responsibilities in respect of the trustees, Annual Report and the financial statements The tru5tee5 are respor15ible for preporing the The trustees are re5pK)nsible for the mointenonce Trusiees. Annual Report ond rhe financiol statements ond integrity of the corFX)rote on(1 finonciol in accordance with appliCae law and regulolion& infonr*otion induded on the choritable companvs website. Legislotion in the UK governing the preporotion ond disseminotion of fitncial stolements moy differ from legislation in other jurisdictions. coMnY low requires the trustees to prepore finoncial statements for each financiol yeor. Under Ihot low they hcwe are required to prepare the finoncial stotements in accordance with UK Accounting Stondards and applicable low (UK Generally Accepted Accounting Proctice). induding FRS 102 The Financial Reporting Stondard applicable in Ihe UK ond Republic of Irelond. By Order of the Board Under compony low the trustees must not opprove the financial stotements unless they are satisfied that they give a true and fair view of the state of affairs of the charitoble cc¥npgny and of the exce55 of income over expenditure for thot period. In pparIng these financial statements. the trustees are required to: Helen Edwords Choir 6 December 2023 ' select suitable accountiry policies (¥KI then ap them consistently., ' moke judgements and estimates that ore reosonoble and prudent- state whether applicable UK Accounting Slondords hove been followed. subject to ony molerÈol deportures disclosed ond exIned in the financiol statements. assess the choritable compony s ability to continue os o going concem. disclosing. os applicab. matters reloted to going concern: and use the going concern bosis of occounting unless they either intend lo liquidate the charitable company or to cease operations, or have no reolistic alternative but to do $0. The trustees ore responsible for keeping odeqvote accounting records thoT ore suff icient to show ond explain the charitable companws transactions and disdose with reosonable accuracy at ony time 1he finoncial position of the charitable company arKI enable them to ensure thot the finonciol slotements cornp with the ComF)anies Act 2006. They are resFonsible for such intemal control as tt determine is necessory to enoble the preparation of finoncial statements that are free from material misstatement. whether due to fraud or error. and hove generol responsibility for toking such steps as ore reasonobw open to them to safeguard the assets of Ihe choritoble compony ond to prevent ond detect froud orQ other irregulorities. 53 PCF Repxr oidknwit5 2021.73
Independent auditor's report to the Trustees of Peabody Community Foundation Opinion We hove oudited the finonciol stotements of Peabody Community Fojndation fthe Chariln for the yeor ended 31 Morch 2023 which comprise the Stotement of Finonciol Activities. Stotement of Finonciol Position. Statement of Chonges in Reserves and related notes. inclu¢Jing the occowting policies in note 2. Our condusions Ixjsed on this work". we consider thot the trustees. use of the going concem basis of accountirv4 in the preporation of the finonciol stotements is oppropriote., . we hove not identified. ond concur with the trustees. ossessment thot there is not, a molerial uncertointy lOted lo evenls or conditions that. individwlty or collectively. moy cast 5ignifiwnt doubl on the chority's obility to continue as a going concern for the going concern period. In our opinion the financial stotements-. give a true and fair view of the stote of ihe charilvs affairs as at 31 March 2023 and of its incoming resources ond application of resources for the year then ended: . hove been proper prepored in accordance with UK accounting storndards. including FRS 102 The Finonciol Rep)rting Storthrd appliCae tn the UK ond Republic of Ireland: orKI . have been prepared in occordance with Ihe requirements of the Chorities Act 2011. However, as connot predict oll future events or conditions and as subsequent event5 moy result in outcomes that ore incon51Stent with judgements that were reasoThible at the time they We made. the above conclusions ore not a guorantee thot the charity will continue in operotion. Fraud and breoches Of laws and regulalions - obility to detert Identifying ond responding to risks of material misstatement due io fraud To identify ri5k5 of moteriol misstatement due lo fraud ("froud risks-) we ossessed events or conditions thor could indicote on incentive or pressure to commit froud or provide on opportunity to commit froud. Our risk assessment procedures included= Enquiring of directors, the Audit and Risk Committee, internal audit ond inspection of policy dccUrrnIation as to the parent. Peobody Trusfs. high-level policies and procedures to prevent ond delect froud. including the internal audit function. and the Charitys channel for-whistleblowing- as well os whether they hove knowledge of ony octual, suspected or alleged froud. • Reoding Board minutes. • Using onowfical procedures to identify ony unusuol ¢y unexpected relationships. Basis for opinion We have been appointed os (Jjdwtor urTrder section 145 of the Chorifies Act 2011 (or its predecessors) and report in accordonce with wulotions mode under section 154 of tt1 Act. We conducted our oudit in accordance with Internotional Standards on Auditing {UK) (°ISAs (UK).) and opplicoble law. Our responsibilities ore described below. We hcNe fulfilled our ethical responsibilities under. ond ore independent of the charity in accordance with. UK ethicol requirements including ihe FRC Ethicol Stondord. We believe thot the audit evidence we hove obtoined is o sufficient ond oppropriote tQSis our opinion. Going ¢on¢•rn The trustees have prepored the financial statements on the going concem basis as they do not interKI to liquidate the chority or to ceose its operotions. and as they hove concluded thot the chority's financial position meons thot this is reolislic. They have olso concluded thot there are no moreriol uncertainties thot could hove cast significont (ksubt over its obility to continue as o going concem for ot least o year from the date of opprovol of the finonciol statements ("the going concern period"). In our evoluation of the trustees. conclusions. we considered the inherent risks to the charity's business model and anolysed how those risks might affect the chority's fIrnCl01 5¢rceS or obility to continue operations over the going concern period. We communicated identified froud risks throughout the audil team and remained olerl to any indicotion5 of fraud throLKJhout the oudit. As required ty tjuditing standard4 perforni procedures to address the risk of manogement override of conrrols. in wrticulor the risk that management moy be in o position to moke inoppropriate accounting entries. On this oudit we do not believe the is o froud risk related to revenue recognition because turnover is primoriw o cosh donation provided by the parent. with other streams being a low mutrriple of maTeriolity. hence giving mininKJI Oppornity to commit a material fraud. PCF ReprytLMvJ A¢¢wnts 1022.25 55
Independent auditor's report to the Trustees of Peabody Community Foundation continued We performed procedures including identifying controls. Our audit procedures are designed journol entries ond other adjustments to test based to detect material misstatemenl. We are noT on risk criterio ond comparirwj the identified enlries responsib for prevenliNJ rn<0mPli0nce or fraud to supporting dixumenlation. These included jourrKJI and cannot be expected to detect non-compliance entries reloted to unusual occount combinations for with all laws ond regulations. ¢osh and revenue. Other information Identifying and responding to risks of material The trustees are responsible for the other mi5Statement related to compliance wilh laws and informat)n, which c¢)mprises the Trustees. Annual regulations We identified oreos of lows and regulotions thot Report. could reosonobly be expected to hove o moteriol effect on the financial statements from our general Our opinion on the financial stolements does not ommercial and sector experience and through cover the other informotion ond. occordingly. we do not express on oudit opinion or. except os explicitly discussion with the directors as required by auditing stoted below. ony fomi of assurance conclusion standards). and discussed with the directors ihe thereon. policies ond procedures regarding complionce wilh laws ond regulalions. Our responsibility is to read the olher informotion We communicoted identified kiws and regukitions and. in doing so. consider whelher. based on our finonciol srotements oudit woth. the information throughout our team and remained alert to any indications of non-complian throughout the oudit. thein is materiolly misstated or inconsistent with Ihe finoncial slatements or our audit knowledge. We The potential effecl of these bws and reguloiion5 on ore required to report lo you if.. the financial siatements varies considerably. based solety on that work. we have identified materiol mi55tatements in the other infomiotion: Yhe chority is subject to lows and regulations thot directty affect the financial statements induding financiol reporting legislation and taxation legislation and we assessed the extent of compliance with Ihese lows and regulations os Fxjn of our proCedUS We htwe Mthing to reKX)rt in ttte respects. on the reloted financial statement ilems. in our opinion. the infomiotion given in the Trustees. Annual ReFX)rt is inconsislent in any moteriol respect wilh the f inoncial stolement5. The charity is r1 subject to other laws and regulations where the consequence5 of non- compliance coukl hcwe o moterial effect C omoJnts or disdosures in the finonciol statements. Molters on which we are required to report by exception Under the Charitie5 Aet 2011 we ore required to rewrt to you if. in our opinion.. the chority hos not kept sufficient accounting ords." or the finonciol slatements are nol in agreement with the accounting records: or we have not received oll the infom)otion and explonotions we require for our audit. Context of ihe obility of the audit lo detect fraud or breaches of low or regulation Owing to the inherent limitotions of on oudit. there is an unavoidoble risk thot we moy not hove detected some moterial misstotements in the finoncial stotements. even though we hove proFer planned and performed our audit in accordance with ouditing standards. For exomple. the further removed non-e¢)mpliance with laws ond regulotions is from the events and tronsottions reflected in The financial stotements. the less likety the inherenty limited procedures required by auditing slondords woukj identify it. We hove thIng lo report in these speCtS. Trustees, responsibilities As eXoined more fulty in their statement set out on poge 52. the trustees are responsible for. the preparation of f inancial statemenis which give a true ond fair view: such infernal eontrol as they determine is necessary to enoble the preporation of financial stotements thot ore free f rom moterial fflisstotement. whether due to froud or error. ossessing the charivs obility 10 continue as a going concem. disdosing. as applicable. motters related to In addilion. os with any oudil. there remoined a higher risk of non-detection of froud. os these moy involve collusion, forgery, intentional omissions. misrepresentotions. or the override of internol S4 P¢F AnrnKI Reporttsr p£cMis 2022.25
going concern: ond using the going concem tKJSiS of accounting unless they eiTher iniend TO liquidate The charity or to eeose operations, or hove no realistic olternotive but to do so. Auditor's responsibilities Our objectives ore to obtoin reosonobie ossuronce cknut whether the financial Statements os o whole ore free from moterial misstatement, whether due to fraud or error, and to issue our opinion in an auditor's report. Reo50rb1e assurance is o high level of assuronce, but does not guarantee that an audil conducted in atcordance with ISAS (UK) will always detect a moterial mi55tatement when it exists. Misstatements can arise from fraud or error and are considered material if. individualty or in oggregate. Ilw coukl reasonabw be expected to influence the economic decisions of users token on the $15 of the finonciol stotements. A fuller descriplion of our respcmsibilities is provided on the FRC'S website ot www.frc.org.uV ouditorsrespon5ibililies. The purpose of our audit work and to whom we owe our responsibilities This report is mode solety to the charitws truslees as o body, in accordance with section 145 of Ihe Chorities Act 2011 (or its predecessors) and regulations made under section 154 of that Act. Our audit h05 been undertakn so that we might slate to the charivs irusrees those moners we ore required lo state to them in an ouditor's report otid for no other purpose. To the fullest extent permitted by low, we do not occept or ossume responsibility to anyone olher than the charity ond its trustees, as o body, for our audit work, for this report, or for the opinions we hove formed. Emma Larcombe for and on behalf of KPMG LLP. Stalulory AlitOr Chartered Accountants KPMG LLP is eligible to oct as on auditor in temis of section 1212 of the Componies Acl 2006 20 Station Rood Combridge CBI 2JD B December 2023 PCFknr•A Rewtand 2022.23 55
Statement of financial activities TJl F¥r InMing Résourtes or0110n$ Wies Income from ch(Yito ¢xlivthes 6,4n 37 509 &7P 1.081 4548 Totgl incoming resources 7,149 441 11,247 Cosrof chonknbk Ouivifves (7.2881 (927) (Q2151 (6.909) TOMI res•¥¢$ expended (Fw) 1•27)1 16.909) Irivwmeni ir£orr 879 879 857 Interesi ptsyotAe Other irKome/(exwdih)re) (61 (61 14) incomg Iv th ywr 743 <4861 2$1 5.191 Aciwriol (bss)/goin ortdelined Pensio schemes 13 164) N•t inÉome/(•XPertdilur> the y•ar 171 (491 Net m•¥•m•nts in funds 75¢+ (416) 5.127 Fund b)lontrs tr0hr for%r Tronsfers ben funds 910 28,84 {B) Fund IlneS rried fonrfoyd 416 34325 54975 The oeeomponyirKJ noks fomi of these finontial sta1*r All omounts arede¥ived from toniinuing 1¥1$1¢$. There were no recognised goins ONJ bsses Olher tknn those sitjied Ob. No eorpcYoti¢)n tox wYJs pwt4e ty the CIwJrity erKled 51 Motth 2025 (2022 £nil}. CF Amual Rewr kcuJnt5 2022.25
Statement of financial position For the year ended 31 March 2023 NOrIen1 q55ets Ton91b ffftd oss$ Oebto¥s ¢Jue Th)ret cfft year 14221 13,079 io 18.752 JW41 Current a88•ts Debtors 910 Cosh ond cash equNolents 2.462 6•01 5.457 6.367 Creditors amounts falling du• #n• year 12 13,960) Net current ¢Msets 1407 Totol ossets less rurrent li(knlitie5 34.238 Defined berfft pensth scheme (2C4} {2651 Nèt ¢issÈts 33.975 Funds Resrricled fund5 4161 910 Unre51rirted furJs 13 53.065 Tottsl funds 55.975 The octtfftiparyirrtj notes forrn wrtof thE5e firwKiol ThesefiThJnc¢ol starerrenls Op BcKird of Totee5 6 Oecembv 2023ond svwe(l on its beholf by. Heltn Edwtyds c1r PCF Any1 Aepytraro A¢¢*$ ZQ21.25 57
Notes to the financial statements
Legal stthus
Peabody Ctsmrnunity F(xJthlicffj fthe Chariv) is ts registryI
chority and o compoThy limited by guorone. In the e¥enT of the
Chority beir¥J wound up. liobility in respect ol the 9wronree is
limiied to £1 permember of Ihe thjrity.
The PeobcAYy Ccmmunity FoLwvJolion's Bourd, after reviewifva ihe
CrI$ bet$ for 2023124 ond Ihe Group's medsum rerrn
fIrrKl Frt)siTion os detow in the Year1e$S plon. ore of
the qynilx tIKrt. tokiThJ dec&1 of sere plousible
IsI¢jes, os trnfknionond inieresi rots rises ond reIng
keWer'5 hwsehoky IrOrneS. the FoundaiK)n will htNe
suffici1 funds to mt tis liotslities os IW foll due foro period
of 12 mnihs Ihe dore of opprovol of the linonc
statem2ntiThe trustees the¥efore c¢xthnL to odcpt the wng
corKern t¢)SiS in FKeporirKJ The onnwl flrvjal SnnI
l A¢counlin9 policies
11 Basis ol preparalion
These financial statement5 have b2en FYepJr2d in accordance
Wllh UK Generolty Acceoed AcCJnI1ffj Prncii. comwis
Fironciol Reporting Stondord 102- The FirorKd RetAylirrfJ
sioNJord applicab in The Unired Kingd oThJ RewLIK of
Irand I'FRS 102'}ond Ihe Sloternwr ol ReCtrTrrn1 Prociice
'A¢counling arKI Rewrtirwj tychorities. as rev(sed in 2019
SORP'I, iogeiherwth The rewriryJ requlrants of Ihe
Companies Act 2000, the Charities Act 2011. It also reqre5
Group monogement ioexwcisejudgement in opsiNJ the
Grwp'5 occountiry
14 Cq5h ond ¢
3.1 Donutions thd1•g¢Kies fnlra group domticffjs- Peab 0.293 4.556 Olher Dc•)otions 210 143 44n 699 32 Income from ¢IrittsIe odivit 7022 crThJ Yowvj H¢¢[ Community ChornpKffts C¢)mmuThity FuThJ IWI illl Sport Engbnd- Tockling 1noctbty Motemity pu1£ Heolth SouthknrrkCOoI 40 65 51 Shopirg Heolthier Thamesmead RBC Ctribu71¢ to thevts Reseuth (Bex L8WF Public Heolth Unit Othei gmni income 157 Troding Income Other Choriroble Incorre- Moorin9s Club 3.697 077 Total incoming resources from chori10b actiVlties- 2022 4245 Resour¢e$ expend¢d Expendilure is occounled for on bosi$ 0rbJ thssified under heodings in oceounts thot aggreg(rte oll cosrs rehjied to the cotegory. Irrecoveroble VAT is induded in eXSe it towhich it rete5. Grants rAryyatrAe are thor9ed in the year %•ben ihe offer is convtyed 10 recipeni. except in cases where the offer is condilicwl. ginnt5 being reco9nisedas expenditu when thecorKlitions ort ftAfilkd. PThis15 ore onty provided for on oJntrLthL4 IvJbilnie5thKth exisl (Jt the bjbrte sheei ¢Jte. Chjritoile activities- $ce reSoUe5 expende(l. indudirg slaff costs. ore op11¢ned 0¢$% dll1erenttateg of expense¥ where approprioie, on the bosis of Time irKurre(l the proieus. P¢FAnnyd A¢¢ouni$ 202Z-11 $1
Notes lo the financial statements continued I Cost of charitable octivilies 20 Chqritoble 4divitits buildin9 copjcty of grJp indiviLJo Children,ywrrtJ peopk 6 fornilies ond empWt4r Improving spwts Community cohesion 1787 3251 2361 1,577 iio 769 420 497 Ik+15 1.49B Ott)ertlNJrit&Ae aclivities 41 285 250 un •.196 fjoverDqn Stoff c$ Externcl oudii legol fees io io io 19 19 19 T¢lal rewtsrces exp•ndod ug01 6.909 T•lol rewtsrc•s &xp•nd- X122 4.2 Support ¢osls Coms direJw ¢YrfribUtobl0 thttnfeb otliw1$ are olbccrt to th"rEth c05t% Those ctssts noi dirty ottributoble cre included in support COST& These irKhJde tock-officecosts, Pw$[, kxyrou ond 9rrnCe costs which support wogramrnes and tichvihes. Suw)rtC05t5 are appcnhwed txJ¥ed on the mff tim2 irKLrred an chyi7oble ochvty. Athninislrntn ¢cst5 610 543 Sloff costs 562 lig0 i.ios 60 PCF •J¥wd SpcrtoTrY 2022.25
Interest receivable ond p(ryable Interest receiv0e is recognised os inrerestoccrLE5. using Ihe effectNe iThteresr rned 1$ thÈ rtrte that exaclly discounts eslirnrjied futwe rash recp1S th2expected life of the firnrKiol insirimeni ro The ner corry1r amouni ofthe osset). inferestoccruing beTh4n entiiiE5 thin fv pe)dY LYÈ atti)n¥n rores. Intsresr from parent undertoking Intet C051 on pensw 5chvne 49 20 482 428 N•1 income ft•r th• year before 90ins ond losses Net intome lty Ihe yetsr before wins b)s5e5 is stoted ofter £'o Oeprecvjiion iongibk fixed 0sset5 Auditor's unOI1 311 506 io Pension costs 157 Employw information Holiday pay aeerual A liability Is recognised to the exrertt of any Urnu entriTkmenr which hos occrued the port dote ond corried forward to future periods. This 15 rrwsured ot the vndiKixJnted soknry cost of rhe fuTrNe holiday enlillemellt so occnl at the repcKting date. Defird Benefil Pension Schem• A ¢fined befrt pknn is o W51-emFqoyMi berefn pbn olher Ittsi o defiwj eon7rkn pknrL The Chur[$ M thigotion In re¥eu of defined benefit pkins is cotuloied by esiimoiing the arrthjntof fuftjre benefit ihoi empltyees have éarned in retum fc¢ their service in the current ond pr periods. Ihor Wefil is di%i)unted ro de1errnIr its present volue The foir volue of ony on assets is dèjueied. Defirttd contribution phns and Ottr lon9 term employee benef A defined contributK)n plon is o P05t-empbyment benÈfil under which the compony pw5 fixed COntribJlic¥is In o stp¢iraie entity will Ve rycoThstnrlive to poy lurther amounts. Regukwvakxrti(xts ts prepjred by indewdeni profession¢1 qlIfied ocbJori These determine Ihe level of contriblon$ require£1 to fvnd the berfItS SÈI OLrt in the rule5 Of Ihe fund orvj IkA¥ for per irreose of rn$ions in Fxrymeni. The current serwce cosi of provtding tireml benefiis io erry)Wees ttEyegr. rogether wilh the cost of ony benefit5 r4otirv4 19 st serv. of curtoilmenis ond selllemenis ore chorged in51 fv operoFirrtJ surphJ$ in thepx. Aciwriol g(r ond k)%es a retounised in the SOFA. 0190110ThS for contriblon$ io defined contribulian penshin on5 a recognised c5 on eypense in ihe Stoiemeni of Comprehensive Intome in the peri¢>Js durir#J whKh 5erwce5 ore rendered tyempk4ee PCF AfjwrtqnaAttDunts2022-23 61
Notes to the financial statements continued Employe¢ inforn)ati•n continued Terminolion beftefrts TerrnirvJlion benefits rvcagni5ed os on expense chrtY is demcfftsiroty ccrfnrnlffed.1OU1 realistic possibility of wilr001. TO o fcmKJl ¢Jer01 pk)n io either terrnin¢rte empbyment before the nurrrnl retiremenrdote. orto provide Terrnirntir rIt$ os o resutr of offw mode io 0rJe vckniory redurthnry. TerMirli0rt benefits for volunttsry reddne$ tre rettyjnised oson exwse If the Chority hos rrode on offerof voluntory redUndcY Ihe cost con be esiimoied. If benefits tre pwble Ihon 12 nnffi$ after the reponin9 dore. Ihery they ore di5counred to t1r present voK. Th• a¥erag• numb•r •1 •mploye•s duriTrJ th• ywr as follty chari1rkn octivities 86 Morvjgwnenr, admin1#roii ond supwy servKes 90 ZUZZ Employee ¢0st%' Woges Soctal securiry cosrs Pension w5ts 3.706 3.245 545 157 Olher pVee c051S 14 44 3.791 The Charirfs staff ore ernt&yed under Peoboty Grcwp ccffjrm and sdcrycosis fecknr9ed underon intra 9Youp seN¢è lreeMent. The nurnbprs ofempbyees who (excknyry pens conlritJlI5I in excess ol £OO,OC#) pw annum are stated bektr in th3$ of £lO,CW. X021 Emolurnents ol higher paid staff within the folkn¥ing scales wu £60.001- £70.OCKI £70.001- £80.0(xI £80,001- £90,000 £90.001- £100.000 £140,001- £150,000 The eomings fcK the Charivs W mork>JLYrent pUs0n (irKknliThJ the ExwJtTh Direciiy) for the were £385k (2022.. £279k). with pensth ctsntribjlions of £14k{2022" £4k). benefrts in kiTrJ tota. e& (X122. £nill. 62 PCF Amud R•wrt A¢wi$2022-23
Trustees. remuneration and expenses Durin9 the lost firKinciol year. non-execurwe mernbers of the C¢ynmwwtie5CorTThittee rEcwved rErnurrot from Peobody Trttst. The GfftrrAi1 Sl0Th ofthe frusiees. Anrnl ReFwT (Remuneroii of non-execuiive CcThmunifies Cc¥nmiiTree Members) disdoses iotsml the fifrt)nwl yeor 2022123. During Ihe year Trusrees cljimed exwse5 £40 fLY tra, subsisierte ¢JwJ 1rtidenl eXFenS in fv yeor(2022 £NII During ihe yearihe Crity PXJK1 £28I1202t £258) forTru5Fets' irthrmtty inyJrortethr<xwJh Grr*Jp Insururte pdity. Tangible fixed assels Tongibfe fixEd os5eis ore irKluded orcosi $$ deprecioiKffi, WCh is on o straMJhr-le bo$i5 ¢Mr Ihe expeded useful econom Iive50f osset5 OS shrn IT eqpen7
4 yecys Office equiFneni Freehokj knnd {¥ I41r@S Leosehold tond and bJikliThJ$ 5-IOyYs knse term Dewec1otn is tr9ed The osEet5 from thv of Pur2 LmtA th2month of di¥)osd. Expected useful lives (xe periodic01 toenxjre they are still arvoprkile.and benthrThwkirvJ is wrried our with other housing ossoch?iicns to SUre Iw ¢Jre in line %vilh gxd wxr1. Assers which ore eConarnKaI viable are written d¢. Freehok lond ond buildirrtjs represent wcpwties o¢qre from Thorre5rneod on its derger in April 2(MX). The osseis were 5ub5equentytronsfer to Tntst The from sub5idiw durirg 2009 01 thèir nei book volue. The Trusiees hove odooed of ffftIJ bal¥tt0$t $$ ocomthied dewe£1 tsrKI tsny accumulated impoirrrenr losses under FRS 102. T• Co At l Ayil 2022 15.562 15.926 11.¢68 Adthlions 136 317 453 4.258 , At 31 mllh 2023 15,699 16.579 15,926 Dpre¢larfon At l April 2022 173 2.847 2.541 C)rge for Ihe yeor 311 306 l At 31 Marth 2023 017 141 Nel Book Value l Al 51 March 2025 Al 31 March 2022 13921 13,079 12,823 256 13.079 9,127 All 05seis ore held for choritoble purFX)$. The Lt)ttery Fund hokls o thorge over Horrtrrt Mornrwoy fw £5 ff411. The Fooiboll FoJn¢Jfion h05 0 cttorge f¢r £lm 4>•V Th(¥n FoM)ttrAII PCFAnnuyl Meportgn¢lA¢¢•Unts 2Q22.25 65
Notes to the financial statements continued 10. Debtors due in more Ihan one year Deferred 51dVotion 14,713 15.252 Lcon io porent comFQThV 3.500 18.752 Tht deferred con5i¢Yeraticm 75 Qrisen w the of the Fixed Asser invtsrnt in Tiwen Lond LinNtsd. whch Mx25 sold to the Chority's Kwjrent cc¥npJny. P&]WTruth on I WI 2014. The defettèYoJnswJeral 15 poyable in quortaty Instolments over SO yeors. The monie5 kaned ro the pamtccffipry hove ti irwested in iniere5r bearry rotice thechorirrfs behalf. 11. Debtors due in less than one year Current ¢Jebr$ ore rneosud OT ir0nsau1 tfftee knorry inNyJimieni. A prtr4Jsicrt bjd debt oTrses Wh Ihe ¢Jebrcf InCe is g) dtys oreer. The initiol is o chorge t>Joinsi Ihe 5taternMtof fimogl vdMiie5 but 15 kn (led too xewt Th?debtCff5 fwe in fv 5tgFerTWt of finonciol wsihon is odpJsred 10 be presenied'n& tsl rt FW4iSiC¥)'. Any increose or¢Jecrease In the provisth in o subsequent perid 15 debited credited lo the sioiemwi of frJr(l Qui. Thewtite off of o specific tthilebt is mode in occordonce wlh the Grc¥Jp Fin001 RegrILy. Amounts due within Trode debTors 49 Amounis owed by other Grr¥Jp rymbers 1.559 PrerAiyments and accnjed incarne 18 otrjeb1Ors 559 Deferred consideraiic 482 910 Arrnunts owed frcyn other wup mvnbersore iroding terKw)ble on dwr¥¥KI und nofvinierw bwrirvj. Deferred considerorion relotes to the of inves7nlS in Tilfw LoTrY Lirni1ed io the Chority's wreni cornwny Peobody Trusrcffl l April 201& sdewcedS a 30 PwtttyTrLtsthtss inTrrtsied mCleS in on kiierest be(Yin9 (Knt on beholf ol Ihe Chority. 11 Creditors: amounts falling due within one year Trade ond othercredirors ore recognised inili¢YW<rt lrons0cti price lIs ottributoble tronsoctio) costs. 20 Trode rrethtors 278 ArnoJnls o¥ed io other GrtyJp members 2.029 Other credittsrs 424 467 Atcruols ond deferred ircorne 1.117 1.186 5.960 44 PCF Anrvjd R*Wt(d Ac<(xw)1s 2022.23
11 Creditors: amounls falling due within one yeor continued AVnI$ owed io oihw gmup members (xe tmding btskJrtes repay0b on demond non.inte$1 beng. £DO Movvnent in deferred inccme.. Deferred irtome 01 l April ArrUnIS rekn5ed Irom pM1$ve0rs Incornin9 $OUrteS deferred in Ihe y Delerred ineomt al 31 462 352 {462) 1352) 462 462 13. Funds Resrricied funds- Ihese 0 funds thot the restlichc imFo5ed try(t$ orKI tsthe pJrpose5 speofied by donors. The consTnJcTion aThJ se01 fLxed a55e15 with rTrIcIed fvrK15 deerned fo be rtIS[ 0the unresiricted generol fId5 once the constnKtKJn or pUrc}se 15 cornplete unles5 reSIrKh is deemed to be o perrnonwt bosis. De5ignored funds- these ore LreriCted been S os•Je * rnjstses ts wfic fijture wwses or woiect& General re5erves- these 0 tXOXfhvkited swphJ5es ond ¢Jeficitscffl we5rriLTrd furKlsthth wn be used in furtheronce Of thegeneral L4)jectNe5 of the CIKrityot ol the Iwustees. £D £'ODD R•stri¢lgd lunds 9JO 4l6 UnstrICted funds 8.031 17.2881 33,809 343251 Totql fundg 0•si9noted fvblds Pitch re5urfocing Fixed ossws 255 I?44 (511) 12.986 Tharnesmead cernrrnnity Totql DMigTrat•d lunds General funds 15.734 879 15.252 2•.0 146n) (s.ou) 28.475 5J36 | 4352 Tol41 unr•slriel•d fund5 33,065 •.oJi PCFAnnuLd R•portandAccoums 2022.25 65
Notes to the financial statements continued IS. Funds continued G#5M 4 RestrKred funds 739 Unre51ri¢ted furKts 28.109 11.7 (0.776) (64) 33,065 T•MI funds (0.9 (04) S3,5 Desi9naled lunds Pitch resurfaoThJ Fixed 055ets 4258 12.844 Thamesmeod comrnunity Tolol Designaled lunds Gefierql fvnds 16.102 (1,285) 15.734 SJ .m) (5.1•5) 13 l•20 (64) 4352 Totol Unrestricid futhds 28JOV uJg• (0376) (64) D¢sign•i•d Fthds Pitch re$tsrfting- Durirwj 2017 Twstee5 gee£l to set up o seporufe dE5igthd fur to tt FQteThtiol cosi of urfOciTrJ wches 01 Ihe CbA). Fixed asset$ hjnd represenr5 funds lied up in fixed ossets ss ary0ssocw) grts CeNe Thamesme¢)d Communiry fvnd rewesents fvnds frcvn the instr) Tilkn LoTrJ LimTied lo Peabocty Trust on l April 2014. f¢x the suppory of proieus OT Thorre5rneu(L 14. Analyis of nel assets between funds ot 31 March Fund¥ Fur Fixed ¢Jssets U2a 13.079 Debtor5 due more thon (xEyeor Curreni ossels 3X 14,n3 18.215 18.752 3,314 6367 Current liolItIeS (1.269) (411) (L680) (3.XOI Nerpensw llo.11ty 1263} 5.3361 2•A73 416 34325 33.975 l& Pensl¢)n c¢)mmitmonts The pensiorts of empwes of the Charity (Ire (mInISered thrtyJgh fthjr schemes, ofwhlch0 defined bEnèfit stheme aThJ vo defined tribUtIOn schenEs. The Chcrity PortKiF1ts in the London Pensw5 Fund Alty Scherre ILPFA) for rh)se fOrnr antyoyees who decTed ioion lo 51 Morch 2008. scheme been cbsed io entronis sorne tiffl¢o %ws ckJsed lo future occw¢l fr¢rn 31 March 2020. Chority olso ?5 on cryory liobility f( pen5ton comrnfftntnts ihe (Coreer Averoge Revdued Earnings) which wis tknsed to rw antrants ¢)n 30 June 201$. A defined ConTribTrOTh scheme{Coreer Average RwluÈd Earnings- CARE) was One to entronis on l July 2015 oTrY dosed enrnnts 31 Otrober2015. DefKit ¢tribJtIOTh$ 10 IhKs sthne beiween l April 2021 to Y) Sepiern¥v 2027 ort fl.530.¢JXS per¢mL Ern0Vee5 were a150 digibl2 roh)in o ¢Yefined <1r11rt retirernent benefit sthmE Friervjs Life. 06 PCF ReF¥xraDd Acc Ion.
- Pension eommitment$ eorntinued
In Ociober 2018 the High Court pU1$hed its jUdgemeOn Ihe cose of Lkmls eonkiNJ Grwp theL¥uol1>atic ol ¢>Jorc1eed
Minimum Pensh)ns {'GMP'I berween gyJeis. This consequenty been ossessed oy)inst the Group's ¢Jefined terefit schemes.
The impoth of GMP Eqwlisotion in respect ol LPFAorKI CARE recoJThised In the 2019120 yeor. l)n 23 Morch 2021.
Ihe Gtsvernmeni pu1$h the thJttomÈ tts its GLKYonteed MininyJm Indexglion consutrtttiLvx coJxJdipYJ thoi ol wblic
service Pensi schemes. indudiThJ LGPS. wil tedirecftd ro full irwknlK) io memtrrs wilh a GMP reathing SroTe
Pension Age (SPAI beyond 5 Akxil 20ZI. This 15 o pw1Th)rfeXItyISi of the exi5rirMJ'intwrn x&rtion' 75 oWied to members
with o GMP reoehing SPA on w (rfier 6 April 2016.
The VaIwti< o5SUrnPtim f¢y GMP 15 thotthe FWKI wll ptylimrted wKre05e5 lor membv5tlth reached SPA by6 AVA 2016.
wilh The Govemment widing the remoiThJer of the infotK)Th)ry Irthase. Ftsr mEmbers thtst reach SPA ofter ihis dole, we
ossumed Ihot the Fwd will be required fv F<ry the enTire infiotioTrJry irKSe. Therefore, tyJr ossumpti is CC51ent hyth the
on5taln OLrtcome and no further adju51rnent5 to pbxed ¢x liolylities I•75 required in 2021n2.
The lJiest rEw50n the Ltyjs 8(yir9 Gtwp cwrt C05e tt. in coses where o rrernbere¥er05ed Iheir rightto o
ImnsfeT vaJe of the Scheme, the Irustee h(Ml Iheduty to moke o troThsfer poyment that reflpcls the rnernber's [lt ID equolised
benefirs and remoins Iiotde if on imdequats ironsfer )r h)J t1 ryj. It is knthffl if. or htyy. Ihis wll offett Jr
schemes and no alk)warKes have cwrenfy been made.
In Oecember 2018 the C(rt of Appeul tFx)t'tron5iticThY Orrorv. woiettion in res of benefit chorye5 to the Judici¢l
tsnd Fire Fighter Pensi scheme amounted lo unkNful discrimiryJlion {'McCkth c¢Jse). This apsAie5 lo each of the Lowl GDvemment
Pensi Scherrs. inclLtyJiTrJ LPFA. The cwJpfoiitsry thse¢ on 8 crpoL 2020 o ministerid sroiemeni in reSpSe io ihis wos
blished w 13 May 2021. h(yT o ful respwse to the consuh
111he5 (x the tosi ot the sc LPFA- Pension scheme osset CARE. Pension stheme liobiliry 263 Th• Lond•n Pen$ions Fund Authoriry SorrÉ former empbyees of the clry who ore fcffi¥enW4ee5 01 Tcwn p)rhciwe in LPFA penon Fund, pcyt of the Local Govemrnent Pension kne. Tr fund is adrrunistertd in c(rreilh Locol Gwnrrwt Pwyons Stherne Reguknlions 1997. os omended. These figures are pwred in attortltrtewith 4r ur#lev1r4 of FirK¥JI ReF ylirwJ StarKJryd 102(FRS102). The esiirmied os5e7 akniicfi for the Scheme05 th 51 Mcth 1$ 05 fcknts. zi Equiyies L123 1.071 Target retum Portfol Infra5trucfure 405 242 192 Propety 169 Cash 45 &?io 1.892 PCFAnThJd RewondAcoiunis 2022-25 67
Notes to the financial statements continued 15. Pension commitments continued The demographic ossumpiions ore consisieni Ihose uwj for the forn1 fuThJirwJ w)luation os ot 31 March 202 The post-Wirennt mortoliry iobk5 odopted Ere tK75ed cffj OLJ The assumed life exFli0S are Retiring t(Kry- mts Reiirin9 rothJy- femde RetiriThJ in 20 yeors- mole Reiiring in 20 yeors- femo 873 87.1 87.1 The mojor os5umptiMs used by the aCT¢JOry Ihe lbile$ of the scheme 0131 March uThYef FRS 102 are.. CPI increose5 5.20% Solary increoses. 4.20% sion increuses 5.20% Dis rote 2.70% ' The c)rity )$ M emF4oyees vhKS ryeodive mvnbws within Itms them ThÈ5tirnryied dUrErt of the Ernthv05 01 ts CKcfAmliry dulq 1ra 15 The significoni fin001 asSumffjns used ore discount e. CPI arvj pensth increoses. The derrwrophic ossumptions tye ¢ons1sMtth wed forthe mostreInd vrn which knrsconied out os ot 31 Septernber 2022. The p)stlifÈ1en1 iot4es Ire ore the $5NxA lotAe5. These bose totrles a then projecred using CMI 2019 rnodd. aif(P•rirvJ for (7 kMvJ.twm rte01 imF¥oVnt of 1.25% per onnL¥n, slon¢Yord 5rn00thiry paromeier of7n oTrJ on ir4ti01 Odditi Fr01 0.0% pwornu Stotemwt of FiTrJrKiol Position os ot 51 Morth. Nei LPFA pensB)n p)shion 0$ ot JI Marth 22 Preseni vdue ol the defird benefit obli9atiorbS Fairvolve ol Fund a5se15 Ibwj v(kn) 1.lgj 1.512 (l0) (1,882) Resiricth)n to reiw extent of sUruS rectr4eratr Ne LPFAdefined benefii Fensth osset/oUiwtion 370 A restriction hos been modew1n ihe SUrpS LPFA Pen S¢ yeor 05. Whil on exitcredil (or debri rrw be reCWTr (w ld) under LGPS reguSotKXb5. the ex1 C¥llOLIt which rrrtJy be reCover0e in thethent of o tenymntshth) evert to The scheme is thJeIemiThjb. TheorTmMS recognised in the Stoternent of Finrwl Achvthes Nei inte$tn the defined ossets <10) iio) Arkninistrothx exKenses Acruorial loss- irthJdirKJ reslrrlion Olst ret swJus 75 To*ol LPFA{yofit) / bss 67 è• PCFAnnwl RewtC•bJ P<cwnt5 3XZ.2S
Reconc11Krtn ofopening and CsIng boknnos ofthe wes)I volue of the defined benelif 019011 Opening LPFA seIrElI¥Jl7ry Interest on01g00Tr Change in fiThJrtiol os5umptth5 20n £wo 1512 1,610 41 25 (442) (531 Change in demowphic ossumptK Expeller Ioss (goin) w defined nefit obligtsti Esiirnated benefits PQKt net of ironsfers in (iy) (121 156) Cbsir¥J LPFA Strne oljigatio 1.512 Reconcilvjrion of <)peniNJ ¢)rKJ ck)sing txJrtss pres1 vckje of the defined benefirosseis 2022 £D)o OpeniThJ fair volue ot LPFA Scheme ossets In1$1• osseT5 1.882 1.083 51 R¥urn on 055ets less inftrest 224 Other othorial goins/(105ses) Administratim expenses Esmkned benefits poid irKJuding unfurKled IxrEfrts Cbsiry foir vokof LPFA Stheme ossets <2) &•io | 1.882 Prgeued pensh)Th expense for the yeor to 31 M(rt" 24 Service co Net interest OTh the defined assets (35) AdminisMt1 exPSe$ Totol LPFA {profit> / bss EmF4oyer's conlrit¥Jlions 154) Car••r Av•rn9• Revalu•d Eorning5 P•nsion Scheme The Charity olso ponKiwied In The Coreer Averoje Revolued EcvnTr¥lCARE) Pensw Scherne Ithe'SchemÈ'). which 15 0 funded mulli-emFJyer defined benefil Scheme. Thi5 schern2wJ5 ckxed io enmints on 30 June 2015. Al Choritysff weretrOn5fetd to the Pecbody (>oup Personol Pension schem& The rnoiTh bwefits prowded ty the Scheme o . A pension ofone.eigMieih oflhe member's CARE for eYeIl)l of FensKmoble service if oThtrarted-wt tsf the stote scheme. . A pension ofone.hundrethh tsf the Mem.$ CARE ye0th yeor ((¥¥J rTwJThtt wponK¥itstetyl of erlcb1e service if oThtrocted-in to Ihe sroie scheme. heme. Therefixe. it acco1$ for solwnvos ts defin1 $dw. The scherne is subieu ro the furYiTrJ legisloiion ¢xnlined in The Pensify7s ACT 2004 %thich c(¥ne inTO f¢yce cn 30 Decernbw 2CKJS This, iogeiher wnh drUments issued bylhe PenS1th RegthlC¥ ond TethnKo1 AChrI01 Sl(¥KPJS ISS ty the Finoncid Reporting Cwncil. set out the frorrÈrk fc¢ fundiryJ defird t¢riT rKcuwtiC¥KI FeOn sthemes in the UK. The Icte5t full octuorid voluoti for the schemewos curled ¢)Jl QI 30 SepterTthr 2019. This valua thowed assers of £79.0m, liobililies of £93.9m oTrY o deficit of £14.qrTh To dirnite this fLYKliw shorrfoll, Ihe Tru51ee oske£l the wrtvputing emKloyers to pjy odditronol con1rit¥JtiLS fo the schemeos fdkA¥&" PCF•nUpl RepDrtundAccowts 20zZ. O•
Notes to the financial statements continued IS. Pension ¢ommitments continued Deficit ¢ontribulions From l April 2021 to 30 Nowntrer 2027.. £1.530.000 pergnn IPoyoEJemQnth irKreasir#J ty&O% th yeoron 1stAw) In oddirion ro deficit fuThJirKJ contrit¥Jlion, contrit)1$ore 0150 required to be mode in re$F of tf exF•ise5 ol running ol the Scheme. Frorn l April X)22 the contritxrtvJn to the Scheme is £179.CXJO per annurn {2022'. £175.800 peronnum} irtreosing l Juty eoch yeor by 3% is require fc sMe odminisiroihyi expense The Charity's share of these Scherne eynses 4$ £4.560 per aruM (20Z2 £4.4501 pjyotrje in Mth instakrnit5. Employer Debt on ¢thdraWal The scheme is dos51fied as o'knst rnan sioThJiNJ orrtrwMf. Thwefore. the Cknty is poieniidty lioble f01 participating empbyers, otdi9JTions if Ih05e n(ryerS ore unabfe to net1Pr thjre of the scheme defiot fdbwi withdrawal from ihe scheme. Pc¥licipat¥vJ eTnpkryer5 (rt rlUired to meet th&r shts of 1he Scheme def11 The artOf ernFWr debt on wilJr0¥11il hos1051 Cr&ed 05 £1.451.641 XS SÉpremter 2018. The emptyr debl figures cakukned on the sdvery- or buy L%rt- funding ixfys. Poteniiol erwltyerdebt is IrEated o¥ a con1ry1 IKJbility. Rernnciliotion of t¥ening and ck)sing of the k¥esenl volue of the defified bÈnefil obligai Provision ot start of peri<)d £0 1.610 UrwirKling ofthe discours11on1we5re¥w) DeficiT contribuiion paKI (53) RemeaSUrnt. impju of orydkyy in ossurnptirfft5 Remeasurewr. amendmemsiolhe TriJ71On $ClIe (12) (12) Provision end ol perityl 1.512 AnJr5 rwni5ed in the StoteMlI0f Finnciol kliwties 20 20 Infe$r expense Rernea5urement- irnpau of any chory in gssumptK>n5 Remeosurernl- amendNnis tothe ¢£bu17 schedu 112) T•lol profft (o) {81 ASSLwnplions 20 Rate of discount 5.18 | 155 The discount rotes Sho* Ot¢)we tye the eouM)knr yrrfJlE cliscolmt roles which, used to di5C4wntthe future £0¥ery plon TrikliOnS due. knrjukl give the same re¥Jhsts5 using o AA twoie yield curve to discount The reccvery F4)n ccffitriburion> 16. 70 PCF ArrLvrA Rpwrtond x22-23
- Contingent liability During 2021.22 the Chority received gronts totomiry U7rnfrwb PtKNTrusr ond £l.Om frcm itte Greoier LOon Authority. for renovating Moortng5 S¢)tKJI Club. Chtty hos o lulure oblwion eturn swn5. to rwpectNe 9r¢Jnlee5 ori dlsposdof prwrty. ThetimlThJ ol fure•SpO$01 is ur(enoin. CIKrityl5 not o FYtsViSiOA for reiurn of grani5 in these liThJnciol stolements.
- Ultimate parent undertaking The CcKnpJry's vtrirrote porent undertokiro is Pe0tr)tyTnl. This is the entpty Ihe Grcw) th]r Con5didoted Fir11 Slatements. PeobtsTntsi Isa choriMtleConYThJnity Benefrt Scoety fC¥rn the Community er11 SOcrIes AU 2014. Consdh8oied fir&JrKiol Yatwnent501 Peaw Tru5t¢Jre ov¢iknUe from the Comwnv Secretorygt 45 Westminster Bridge R<KKI. L<yKkn. SEI 7JB.
- Related party transactions ventuS ond compensotion poid to key morogemenT Fer$rn. Key monKrnent pFxsonnd are senK)r rrKJnogemellt teom. boord Members and theirdose fornity. Cornpensoiion irKludes oll empkw benefits in eythormje tr servKe5 ofKI pjid ¢)n belbjlf of Peoly)dy in resk of gords ¢y serwces prewded lo the erbtty. Du¥ing Ihe yeorthe lollwng tronxrhonsto¢& pkxt beten fv OxwttytsrKI its kK)reni cLM))FJlV. the PeototyTru and subsidiary entit The GroJp." . Pe¢trtxly Trust provided Strvites. fin(we, gcwerThJrte, tT, HR tOi01ir¥J £339k (2022.. £359k). and [¢ty £4.269k (202t U.79lk)of S¢(051$ rekJlirrfJto Peoix> 51all dirTthtrthÈChurify. pe0tJY provided no further rfuthShrfi1 gronis in The yeor in io the Mc¥yiThJS Sciol aub 12022.. £1727k). At the yegrnd £l.559k wtts PCF Inoie 111 At the Frnis eThJ £10 tty PCF to the Peobrty Trust (noie 121. PeOdY poi¢J ihe Chority £i,561k (202Z' £1.285k)05 the yeor 9 POVTrt respettof the sde of Tilfen Lttnd Lld. £55qk12022' £482kl wo5 cPK3fged (v4oirbsI the defetted consi debtor(noie IlJt•Ath £879k (2021. £857k) t)eing recognised os inieresi irtie 51. P¢F A111*eI td Att•thii$2022.25 71