## **THE SALMON YOUTH CENTRE IN BERMONDSEY** ## **Company Limited by Guarantee Registered Charity** ## **TRUSTEES’ ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS** ## **FOR THE YEAR ENDED** ## **31 MARCH 2026** Company Registration Number 958986 Charity Registration Number 278979 **THE SALMON YOUTH CENTRE IN BERMONDSEY** REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 |**CONTENTS**|**Page**| |---|---| |Trustees’ Report|2 - 14| |Independent Auditor’s Report|15- 17| |Statement of Financial Activities|18| |Balance Sheet|19| |Cash Flow Statement|20| |Notes to the Financial Statements|21 – 33| _“Inspiring all young people to fulfil their potential and contribute to their community within a framework of Christian values”_ **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Legal and administrative information** ## **Board of Trustees** |**Trustees:**|C. G Bauer (Chair)|| |---|---|---| ||E. Larbi-Odam (Honorary Treasurer)|| ||R. S. Gleaves RICS (resigned 12thOctober 2025)|| ||K. Kazim|| ||A.D.C. Greenwood (resigned 31 May 2026)|| ||S. Manwell|| ||M. Skelton|| ||D. Cruz|| ||K. Miller|| ||J. Thompson|| ||J. Hughes|| ||Rebecca Hilton (appointed 22 September 2025)|| |**Finance Committee:**|E. Labi-Odam|(Chair)| ||A.D.C Greenwood|| ||C. G Bauer|| ||D. Cruz|| ||_In attendance_:|| ||J. Anglesea|(Director)| ||C. Bascom|(Finance Director)| |**Company secretary:**|J. Anglesea (resigned 31 May 2026)|| ||A.D.C. Greenwood (appointed 31 May 2026)|| |**Principal office and Registered office:**|43 Old Jamaica Road|| ||Bermondsey|| ||London SE16 4TE|| |**Auditors:**|Xeinadin Audit Limited|| ||5 Robin Hood Lane,|| ||Sutton,|| ||Surrey|| ||SM1 2SW|| |**Bankers:**|Unity Trust Bank|| ||Nine Brindleyplace|| ||Birmingham|| ||B1 2HB|| |**Governing deed:**|Articles of Association|| |**Charity registration number:**|278979|| |**Company registration number:**|958986|| 1 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Trustees Report** ## **Public Benefit Statement 2025/26** The Trustees confirm that they have complied with their duty under section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. Salmon Youth Centre is one of the largest youth centres in the UK and a recognised model of youth work excellence. During 2025/26, with the support of six full-time staff, eleven part-time staff, four sessional workers, apprentices, trainees and more than 90 volunteers, Salmon delivered over 700 sessions and recorded more than 38,000 contact hours with 1,156 young people. Youth club sessions typically last between one hour and forty-five minutes and three hours, with many young people attending several times each week. Through this sustained engagement, Salmon provides a safe, welcoming and encouraging environment in which young people can have fun, build healthy friendships and develop their interests, confidence and skills. Accessible to all young people aged 6–19 for a nominal contribution of just 50p per visit, Salmon offers a wide range of activities beginning with a free hot meal. This service continues to provide vital support to families affected by the cost-of-living crisis and offers young people a healthy and safe alternative to spending time in environments where they may be vulnerable to anti-social behaviour or exploitation. At the heart of Salmon’s work is a commitment to helping young people recognise and develop their gifts and talents, strengthen their self-worth and self-respect and build the communication and interpersonal skills they need to thrive. The Centre supports young people at key transition points in their lives, including the move from primary to secondary education and from school into college, training or employment. Salmon’s activities contribute significant public benefit by promoting young people’s physical, emotional and mental wellbeing; improving educational engagement and employability; and encouraging positive participation in community life. Through sport, arts, mentoring, leadership opportunities, volunteering and informal education, Salmon equips young people with the confidence, resilience and aspirations needed to achieve fulfilling and productive futures. ## **Our Vision** To inspire all young people to fulfil their potential and contribute positively to their community within a framework of Christian values. ## **Our Mission** We seek to: - improve young people’s physical and mental health and wellbeing by encouraging healthy diets and active lifestyles; - prepare young people for further education and employment by improving educational attainment, providing access to training and supporting successful transitions into further education or work; and - involve young people in community engagement by encouraging volunteering and increasing political and spiritual awareness, enabling them to relate positively to others and contribute to society. 2 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Our Method** - We are open to all and welcome all young people and their families. - We provide open-access, targeted and specialised activities which are enjoyable, educational, challenging and safe. - We build relationships that inspire young people to develop ambition, discover and nurture their talents and increase their enthusiasm for learning, training and personal growth. Through these activities and relationships, Salmon Youth Centre continues to deliver meaningful and measurable community benefit to young people, their families and the wider community. ## **Young People in Southwark** Our beneficiaries are primarily young people living on Bermondsey estates and across wider Southwark, where poverty, housing inequality and social exclusion remain significant challenges. Bermondsey is among the top 3% most deprived areas in the country, sitting in stark contrast to the wealth found elsewhere in the borough. Most of the young people we support come from disadvantaged communities, around 20% are care experienced and many face housing instability or periods of temporary accommodation. The young people attending Salmon are increasingly experiencing complex and overlapping needs. Many are at risk of becoming not in Education, Employment or Training, have had contact with the police or are vulnerable to exploitation and gang involvement. Around 200 young people have identified or emerging SEND needs, disabilities or neurodivergence, including up to 60 with significant or complex additional needs. Our consultations also show that many are living with the long-term effects of adverse childhood experiences, alongside high levels of anxiety linked to crime, safety concerns and instability within their communities. An external review by the Institute of Education reinforced what we see daily: young people are navigating intersecting challenges including poverty, food insecurity, low educational attainment and feelings of discrimination linked to ethnicity, disability and other factors. In this context, Salmon provides trusted relationships, inclusive support and safe spaces where young people feel understood, valued and able to thrive. ## **Increasing Mental Health Support** Many of the young people we support have experienced significant adversity in their lives, including bullying, abuse, neglect and exposure to substance misuse or mental ill-health within the home. A large proportion come from families facing multiple and overlapping challenges such as unemployment, poor mental health, domestic instability and involvement in antisocial or criminal behaviour. These experiences can have a profound and lasting impact on young people’s confidence, wellbeing and ability to access support, often leading to anxiety, depression and low self-esteem. Our recent review indicates that: - 30% of our young people have experienced four or more Adverse Childhood Experiences (ACEs), compared to the London average of 10% (Bullock, 2020). - 60% face neglect. - A significant number first disclose their experiences of ACEs to us, with younger cohorts often not yet recognising the impact of their experiences or viewing them as normal. Additionally, Salmon targets young people who are 'off-radar' and at risk of emerging mental health difficulties. This includes those with histories of care experience, school exclusions or offending behaviour, 3 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ many of whom lack basic qualifications and are not in education, employment, or training (NEET). Structural inequalities further exacerbate their challenges, with inadequate support for SEN and disabled children, for whom mental health needs are often misattributed to their neurodiversity (Mencap, 2021) or who face ongoing cycles of household poverty (Southwark, State of the Borough, 2021; Southwark SEND Strategy, 2022-25). |2022-25).||||| |---|---|---|---|---| |**The demographics ofyoung people attending Clubs**|**_2022-23_**|**_2023-24_**|**_2024-25_**|**_2025-26_**| |Boys|_57%_|_55%_|_56%_|54%| |Girls|_41%_|_45%_|_44%_|46%| |Aged 6-10|350|232|252|207| |Aged 11-13|357|278|219|225| |Aged 14-18|456|470|459|412| |Aged 19-25|129|97|73|92| |**Total number ofyoung people club attending clubs**|**1,292**|**1077**|**1003**|**936**| ## **Our Performance Statistics** |**Our Performance Statistics**||||| |---|---|---|---|---| |**Attendance and activity statistics**|**_2022-23_**|
**_2023-24_**|**_2024-25_**|**_2025-26_**| |Total number of club attendees inyear|1,292|
1077|1055|936| |Total attendances inyear|17,893|
17,566|15,679|14,216| |Total number of contact hours|49,938|
45,785|43,659|38,199| |Total number of sessions|803|
840|816|691| |Total number of free hot mealsprovided|9,752|
8,423|7,515|7,202| |Number of hours ofphysical activitiesprovided each week|28hrs|
28hrs|28hrs|28hrs| The total number of young people we worked with during 2025/26 in all aspects of our youth work, including both club sessions and other activities, was 1,156 ## **Our Impact** **----- Start of picture text -----**
Response Survey questions
94% of young people rated the club as Excellent or Good.
72% of young people said they have made new friends.
69% of young people said they have learnt something new.
84% of young people said being at Salmon makes them more confident
47% of young people said being at Salmon allows them to do better in school
63% of young people said being at Salmon meant they felt safer in their
community
**----- End of picture text -----**
## **Staffing, Apprentices, Volunteers and Leaders** We can only provide our range of activities thanks to our dedicated team of trained staff, volunteers and others. All are DBS-checked and have been trained as mental health first-aiders. This year, we were pleased to welcome Ian Hiley Youth Work Manager- Sports to the staff team (maternity cover). 4 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Volunteers** We have a fantastic team of 92 local volunteers, with over 50 supporting at least one session a week. Most find themselves supporting weekly clubs, with others acting as mentors to specific children, either occasionally or on a regular basis. They help with homework club, CV preparation, job search and interview rehearsals. They also share their skills in cooking, art, music, boxing, gym instruction and podcast expertise. Most importantly, they vastly increase our capacity to show kindness, patience and a consistent interest in each child. ## **Trainees** This year, seven trainees aged 18–25 joined the staff team, gaining valuable work experience, leadership skills and improving their overall employability. They successfully completed Level 2 and Level 3 Youth Work qualifications, along with a range of job-related training courses. Working directly alongside young people, they made a meaningful contribution to programme delivery. In addition, with generous support from The Hargreaves Foundation, four sports trainees were funded to support the delivery of physical activity sessions in our clubs. These trainees obtained coaching qualifications in basketball, gymnastics and football and completed additional training in safeguarding, trauma-informed practice, mentoring and first aid. ## **Work Experience Volunteers** 69 young people aged 14–19 took part in work experience placements, volunteering alongside our staff and engaging directly with children and young people in our clubs. These young people gained valuable insights into youth work by learning on the job and supporting a wide range of activities. Participants included City of London School students completing nine months of community service, as well as others undertaking weekly volunteering as part of their Duke of Edinburgh Award or school and college work experience placements. Across the board, they demonstrated enthusiasm, energy and a strong commitment to making a positive impact. ## **Young Leaders** Eleven young leaders aged 14–19 took part in the programme this year. The aim is to provide them with vital skills to raise their aspirations and improve their employability whilst contributing positively to their community through volunteering. The young leaders help support the primary age club sessions, termly trips and a holiday scheme for over 100 primary school children. They also take part in weekly training learning about youth work. They are an integral part of the team, they led with great maturity and were able to use their training to solve problems and manage issues that arise. |**Staffing**|**_2022-23_**|**_2023-24_**|**_2024-25_**|**_2025-26_**| |---|---|---|---|---| |Staff members(full time)|6|6|6|6| |Staff members(part-time)|5|5|13|11| |Volunteers|53|74|82|92| |Trainees|12|5|6|7| |Work experience students|49|40|52|69| |Youngleaders|10|10|10|11| 5 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **How We Support Young People** ## **Sport and Fitness** The Salmon Youth Centre has facilities for badminton, basketball, boxing, climbing, dance, fitness training, football, gymnastics, trampolining and volleyball. These take place in our four-court sports hall, our wellequipped exercise gym and on our 30-metre climbing wall. Sport is a gateway to healthy lives and a magnet for young people of all ages and abilities. By engaging young people who face multiple and complex social issues, our sports activities help put them on pathways that change the course of their lives. Many of our previous beneficiaries have gone on to train and secure accreditations in sport. Some have become youth workers. We also offer coaching sessions for climbing and adventure, trampoline, basketball, dance and football and some have-a-go sessions: wallball, teqball, dodgeball, volleyball, tennis, badminton and table tennis. Our experienced youth workers challenge young people to discover what they can achieve, so they: - Have the opportunity to participate in at least 60 minutes of physical activity in clubs. - Build positive attitudes to sport and physical health, including healthy diets and active lifestyles. - Increase their physical literacy from an early age, so they are more likely to pursue sports as they grow. - Foster goals and social bonds around healthy sports activities. - Enhance their physical, mental and emotional wellbeing. ## **Diet** In 2025/26, we provided 7,202 nutritious hot meals to children in the after-school sessions. These healthy meals, which always include fruit and vegetables, are much appreciated by parents, many of whom are struggling to provide regular cooked meals due to the escalating cost of food and the overall cost-of-living crisis. ## **Creative Arts** Our young people can express themselves artistically in our music studio, dance studio and visual arts studio. The music studio is equipped with keyboards, guitars, drums and other instruments and a recording suite where demos and podcasts can be made. Each week we delivered 22 hours of facilitated sessions in music, art and dance. The young people have continued creating podcasts, all the content including artwork, music and voices is exclusively the young people’s own. In February 2026, the Salmon Youth Centre hosted the launch of _Re-claim: The Runway (Rest & Recuperation)_ , a powerful multimedia art exhibition led by acclaimed contemporary artist, mentor and activist Eugene Ankomah. First presented at Salmon in 2019, the project returned seven years later in a renewed and expanded form, shaped by the voices and lived experiences of young people affected by knife crime. Through a collaborative and therapeutic creative process, participants explored themes of fear, vulnerability, resilience and hope, transforming discarded materials into striking artistic expressions of renewal and reclamation. The exhibition launch brought together the local community, supporters and young people for an immersive evening of installation, performance and reflection, reinforcing Salmon’s longstanding commitment to creating safe, inclusive spaces where young people can heal, express themselves creatively and drive positive social change. This was covered by many media outlets including Sky News. 6 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Homework Support** This year, we continued to offer academic support through GCSE and A Level tutoring in STEM subjects, delivered by qualified tutors. This was complemented by peer-led learning and mentoring, providing additional homework support. These initiatives have played a crucial role in addressing the challenges faced by young people who have fallen behind in their studies. Rather than continuing to struggle, many club members have shown marked improvements in their academic ability, motivation and confidence in the classroom. ## **Mentoring** This year, we provided mentoring to 153 young people through a range of tailored programmes designed to meet diverse needs. These included: - School-based mentoring for students at risk of exclusion; - Academic mentoring to support improved outcomes at GCSE and A Level; - Intensive support for at-risk young people, delivered in collaboration with families, schools, social workers and police to achieve the best possible outcomes; - Guidance on next steps in education, training, and employment; and - Mentoring to promote personal and social development. Our mentoring programmes equip young people with the resilience and skills needed to navigate adversity and stress. We are committed to expanding our capacity to offer more intensive, one-to-one support by recruiting additional volunteers. We also take a gender-informed approach, recognising and responding to the distinct needs of girls and young women as well as boys and young men. ## **Disability Work** Our trained and experienced staff play a vital role in supporting the integration of 85 young people with disabilities into our mainstream clubs. This year we launched a brand-new Neurodiverse club, “Sparks Club”, which aims to help build the confidence, skills and independence of young people with disabilities and to increase their access to opportunities. We work in close partnership with parents, carers, and special educational needs schools to help these young people build key life skills, including communication, personal safety, money management, independence and leadership. Our clubs serve as a vital ‘in-between’ space— bridging the gap between home, school, and the often-overwhelming wider world. We encourage the young people to step beyond their comfort zones and grow in confidence. Their presence also enriches the wider club community, fostering greater understanding, empathy and inclusion around neurodiversity and disability. ## **Mental Health Support** Well-being remains central to Salmon’s work, particularly as we continue to see growing numbers of young people experiencing significant mental health challenges and the impact of multiple Adverse Childhood Experiences (ACEs). In response, we appointed part time a qualified clinical psychologist to provide weekly one-to-one therapeutic support, helping young people develop coping strategies and resilience in the face of trauma, anxiety and instability. Alongside our universal well-being provision, we provided crisis support for around 30 young people facing acute challenges. We have continued to invest in strengthening our well-being offer through staff training in CAMHS-informed practice, neuro-inclusivity and trauma-informed approaches, alongside expanding our specialist support 7 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ team. Three mental health professionals regularly worked with young people this year, including clinical psychologist Blessing Bakare, who delivered therapy programmes for 10 individuals and supported a further 20 young people through group and one-off sessions. Young people also benefited from workshops and partnership work with organisations including Groundwork London, Thrive LDN, Mental Health Foundation and CAMHS wellbeing practitioners. A key development this year was the creation of our “Chill Out Room”, designed by one of our mental healthqualified volunteers. The space provides a calm environment for therapy sessions, sensory support and quiet reflection during busy club activities. We were also delighted to secure a further three years of funding from Maudsley Charity for our _Be Kind to Your Mind_ project, enabling us to sustain and strengthen this work while developing new partnerships and refining our wider well-being strategy through a Theory of Change process. ## **Residentials, Trips, and Holiday Activities** Salmon outings and holidays are usually the highlight of the year for many young people, especially if their family cannot afford holidays. In 2025/26, we organised 37 trips for young people, all offered free of charge or at a nominal cost. These included educational visits to BBC radio and BBC TV, theatres, art galleries, music studios, the _Tower Bridge_ tour and an employability-focused trip with Gallup. Our sports teams also travelled to various basketball and football tournaments. For recreation and fun, young people enjoyed outings to Thorpe Park, ice skating, the cinema, bowling, Air Thrill, swimming, Flip Out, and our much-loved annual pantomime trip. Residential highlights of the year included an international youth exchange to Germany, an outward-bound adventure residential and a week-long camping trip to the Satellites Festival. These experiences play a vital role in broadening horizons, building confidence and sparking curiosity in the world around them. In total, 365 young people participated in trips and residentials this year. In addition, during the school summer holidays, we ran several daytime holiday schemes, with 378 of young people engaging in our vibrant programme of weekly centre-based activities. |**Special activities**|**_2022-23_**|**_2023-24_**|**_2024-25_**|**_2025-26_**| |---|---|---|---|---| |Trips|26|41|39|37| |Residentials|3|3|5|3| |Trips and Residentialsparticipants|131|150|376|365| |Holidayscheme attendees|295|353|404|378| ## **Community Engagement** ## **Large Youth Events** Salmon has brought together youth leaders from local churches to run joint events featuring food, music, talks and discussion. These are bi-monthly and are attended by around 80-100 young people. ## **Partnerships and Liaison** Where individual young people have social or behavioural problems, we liaise with their parents, their school, social workers, the police, doctor or mental health professionals, Southwark Youth Offending Team, 8 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ Southwark Works (the family support unit), so multi-agency interventions are joined up. We firmly believe in communication and liaison in order to optimise the beneficial impact on our young people. Our local corporate partners include Gallup, Inc. and The Thirdway Group who provide volunteers, training and work experience for young people and also fundraise for the Centre. ## **Sharing Our Facilities** We share our facilities with local schools, churches, partners, charities and youth services. This enables other groups of young people to enjoy the facilities at Salmon at modest cost while providing a small source of income. ## **Family Support** We also support some families whose children are suffering from mental illness, possibly because a parent is involved with the criminal justice system or where the family is facing poverty or family breakdown. This work is intensive and highly individualised to the cases we are addressing. It is fundamental to ensuring positive outcomes for our young people. ## **Youth Advisory Board** The young people’s own views and experiences are fundamental to how we plan and deliver our youth work. Our Youth Advisory Board helps us to shape the services we provide. We actively engage with the young people and their families in evaluating the impact of our services and discussing how we can best develop them. We also informally gather the views of parents about what their children find most helpful. ## **Looking to the Future and Helping Others** Looking ahead to 2026/27, we are committed to continuing to deliver high-quality youth work for the young people of Bermondsey and Southwark. We want young people to access new opportunities in education, employment and training, develop leadership skills, gain meaningful work experience and broaden their horizons through trips, residentials and community activities. We also aim to help young people discover new passions, talents and confidence through participation in arts, sports and creative programmes, while continuing to provide the trusted relationships and safe spaces that are at the heart of Salmon’s work. We are excited to expand our work with girls and young women, supported by funding from the Jack Petchey Foundation for a dedicated Girls Worker Intern role. Through consultation with young women, we have identified barriers to participation including social anxiety, safety concerns and a preference for female-only spaces — challenges also highlighted by Youth Access. In response, we will co-design a youthled outreach and engagement programme that will provide female-only spaces at Salmon alongside community-based activities. We are also pleased to be providing a local space where young women can build peer networks, shape projects and create positive change in their communities. We are committed to strengthening our support for the 80+ young people with SEND and/or neurodivergence who attend Salmon and often require additional, consistent support. Many face challenges including school refusal, exclusion, anxiety, structural racism and barriers to accessing appropriate services. 9 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Thank you!** Finally, we are generously financially supported by individuals, churches, local businesses, Southwark Council and Trust Funds. We say a huge ‘thank you’ to all these donors who enable Salmon to transform the lives and prospects of the inner-city young people who are part of the Salmon family. ## **FINANCIAL REVIEW** ## **Results to 31 March 2026** The results for the year are set out in the attached Financial Statements which have been prepared in accordance with FRS102 and the reporting requirements for charities under the Charities SORP FRS102 (second edition, effective 1 January 2019). Results for the year showed a surplus of £64,923 on the general fund compared with a smaller surplus of £7,187 the previous year. Income at £1,408,520 was £465,893 up on the previous year. The main reason for this increase was the oneoff Hyde Housing insurance refund of £357,350 in settlement of a land tribunal decision in March 2026 in connection with excess insurance premiums relating to cladding which had been on the building, but which have now been completely removed. Donation income from individuals, churches, legacies and corporate donors totalled £238,082 representing a 38% decrease on the previous year. Income from other trading activities excluding the insurance refund which mainly includes letting our facilities to third parties totalled £126,947 which represented just a 2% drop on the previous year. Grants for general purposes total £167,500 compared with £93,000 the previous year. This was largely due to two new grants this year totalling £75,000 which were not received last year. In total, Salmon received grants for restricted purposes of £318,250 which represented a 33% increase on the previous year's total of £238,446. Total expenditure at £1,225,224 was up £75,419 on the previous year's total of £1,149,805. Within this figure was building depreciation movement of £161,565, a non-cash item which is set off against the designated fund. Expenditure on charitable activities was £1,001,419 which represented an 8% increase on the previous year. ## **Designated Funds** As described in note 13 to the financial statements designated funds comprise the Jim Guild Legacy fund, the freehold land and buildings fund and the major repairs provision. A new designated fund, the Major Repairs provision was established, funds will be set aside here to pay for future larger repairs, improvements, and major works to the building. During the year depreciation movement on freehold buildings of £161,565 (2024/25: £182,078) was charged to the Freehold land and buildings fund. The Jim Guild Legacy fund received £81,938 (2024/25: spent £15,000). The major repairs provision received £198,000 (2024/25: £Nil). ## **Cash Balances** Cash balances at the year end amounted to £239,511 (2024/25: £374,690). Of this total £20,498 (2024/25: £20,498) was being held to meet our obligations to fulfil the terms of restricted grants in future periods. Net Worth increased to £6,765,125 (2024/25: £6,581,829). While there is the accounting requirement to charge depreciation which is a non-cash item, there was a significant increase in debtors due to the aforementioned Hyde Housing settlement. 10 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Extraordinary Item** In connection with the removal of combustible cladding from the Phase 2 building, the Government’s Building Safety Fund (BSF) has provided grant funding under a Trust Fund arrangement solely for the purpose of defraying eligible pre-tender costs which may be incurred by Salmon. (See Note 20 to the Financial Statements - Combustible Cladding) Salmon withdrew £139,124 from the trust fund in reimbursement of costs incurred during the year (2024/25: £1,796,832). ## **Reserves Policy** The Trustees, having considered the financial risks, have said a reserves policy which aims to maintain free reserves at a level sufficient to cover loss of 50% of grant income for a period of up to 12 months while replacement funding is sought; this equates to approximately £280,000. The level of free reserves at 31 March 2026 of unrestricted funds of £629,179 (general fund of £236,618, Jim Guild Legacy fund of £300,000, and major repairs provision of £198,000 less other fixed assets of £105,438) is therefore sufficient to comply with this policy. ## **Going concern** The Trustees have reviewed the budgets and cash flow forecasts for at least 12 months beyond the date of signing these financial statements. The Trustees consider that it remains appropriate to prepare the financial statements on the basis that SYC continues as a going concern for the foreseeable future. 11 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing Document** The organisation, founded in 1906, is a charitable company limited by guarantee and governed by its Articles of Association. It changed its name in 1995 to The Salmon Youth Centre in Bermondsey, formerly being known as the Cambridge University Mission (CUM Trust Limited). New Articles of Association were adopted in October 2014. In the event of being wound up, members may be required to contribute an amount not exceeding £1 each. ## **Organisational Structure** The Trustees normally meet 6 times a year. There is one formal subcommittee, namely the Finance Committee, which aims to meet three times a year to review the financial position in detail. The Finance Committee is chaired by the Honorary Treasurer. ## **Recruitment, appointment and election of Trustees** Trustees are elected and re-elected at the Annual General Meeting (“AGM”). A third of existing Trustees must retire by rotation at each AGM. New Trustees can be appointed during the year, but they must then be elected at the next AGM. In searching for new Trustees, the Trustees, whilst recognising diversity issues, look for people who are committed to the Christian ethos of the organisation, who have relevant skills and experience as well as the time to fulfil the duties effectively. At present the Trustees are seeking to appoint new trustees with business, commercial and fundraising experience, human resources management experience and connections with the City of London. Induction, training and other forms of support are offered to new and existing Trustees, both specific to the organisation and relating to the general duties of charitable trustees. ## **Council of Reference** This is the informal name given to the members of the charitable company. They are admitted into membership by the Trustees. They have the right to attend and vote at the AGM. There are twelve members of the Council of Reference, in addition to those nine who are Trustees. The Articles of Association restrict the maximum number of members of the company to 30 (or such greater number as the Trustees may resolve). Members of the company must support and continue to support the objects of the company. ## **Employee remuneration** The pay of the Charity’s staff including the Director is reviewed annually and linked to National Joint Council (NJC) and Joint Negotiating Committee (JNC) pay scales. All increases are directly linked to the NJC and JNC pay awards. In view of the nature of the Charity, the Trustees consider that this is appropriate. ## **Fundraising** Salmon does not receive a significant proportion of its income from public fundraising. During 2023/24, Salmon appointed a professional fundraising service to assist with preparing and submitting grant applications. Their services are monitored by Salmon's management through regular meetings and regular oversight of the Finance Committee and Board’. ## **Risk management** In line with best practice, the Trustees review the major risks to which the organisation is exposed at least once a year and keep the risk register under regular review. The major risks facing Salmon that could affect its ability to maintain its operations at the current level are. 12 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ - Buildings risk – financial loss arising from the obligation to replace combustible cladding (referred to above) - Financial risk – loss of funding from grants (many of which are of short-term duration) without replacement; - Human Resources risk – shortages of appropriately qualified staff and volunteers - Reputational risk – failure of child protection and safeguarding policies. We seek to mitigate the financial risk by implementing agreed quality controls with regular reporting to funders. Regular staff appraisals and targeted training mitigate the human resources risk and strict procedures on safeguarding, including DBS checks for all Trustees, staff and volunteers, mitigate the reputational risk. ## **Code of Governance** The Trustees aim to comply, as appropriate, with the principles set out in the Charity Governance Code. A comprehensive set of policies and procedures is maintained and reviewed on a cyclical basis. 13 THE SALMON YOUTH CENTRE IN BERMONDSEY RSPOR T AND FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Statement of Trustees, Responsibllitles The Trustees Iwho are also the Directors of The Salmon Youth Centre for the purposes of company lawl are responsible for preparing this report and the financial statements in accordance wilh applicable law and United Kingdom Accounting Siandards Iunited lts'ngdom Generalty Accepted Accounb'ng Pracli¢el. Company18w requires the Directors to pfepare financial slalemenls lor each financial year which give a true and fair view of the stale of affair5 of the charitsble company and of the incoming resources and applicab'on of resources, including the income and expenditure ol the charitable activities for that pariod. In preparing these financial statements, the directors are required to.. select surtable accounting pdiues and th6n ap￿Y them ts)nsIslenl￿. observe the methods and principth of the Chaiilies SORP. make judgements estimates that are reasonable and prudent, slate whether applicable accounting stsnd8rds have been folltrlrtd. subject to any material departures disclosed and explained in the financtal statements. p￿pare the financial statemenls on the going concem basi5 unless rt is inappropriate to presume that the company 4MII continue in operati￿. The Directors ale responsible lor keeping proper accounting recorcls that disclose with reasonable accuracy al any lime of the financial position of the charitsble company and enable them lo ensurè that tha financlal statements Comply with the Companies Aet 2006. They are also responsible for safeguarding the assets of the charitable company and honce for taking r8asonable Stgps for the provenl￿n arKI dotgdion of fraud and other irregularities. So far as each of the Directors is aware al the tifi￿ the reFQrt is approved.. there i8 no relevant audit inforrnat￿n ol which the company's auditors are urbgwarg,. and the Oirectors have taken all steps that they ought to have takon to make themselves awarg of any relevanl audit information and io estsblth that the a(KIrt￿ are aware of thal information. Small Comp•nl•s Provl$lon¥ In preparing this report. the Trustees have taken advantage of the 5rnall companies exemptions provided by Part 15 of the Companies Act. By order of the Board C Bauer 43 Old Jamaica Road Chair- on behalf ol the Truslees London SE16 4TE 2026 14 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **INDEPENDENT AUDITOR’S REPORT** ## **Opinion** We have audited the financial statements of The Salmon Youth Centre in Bermondsey (the ‘charity’) for the year ended 31 March 2026 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the charitable company's affairs as at 31 March 2026 and of its incoming resources and application of resources for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Companies Act 2006. ## **Basis for opinion** We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. ## **Conclusions relating to going concern** In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. ## **Other information** The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 15 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Opinions on other matters prescribed by the Companies Act 2006** In our opinion, based on the work undertaken in the course of our audit: - the information given in the trustees' report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report included within the trustees' report has been prepared in accordance with applicable legal requirements. ## **Matters on which we are required to report by exception** In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included with the trustees' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemptions in preparing the trustees' report and from the requirement to prepare a strategic report. ## **Responsibilities of trustees** As explained more fully in the trustees' responsibilities statement, the trustees'(who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. ## **Auditor's responsibilities for the audit of the financial statements** Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment, financial reporting legislation and safeguarding regulations and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team. 16 THE SALMON YOUTH CElffRE IN BERMONDSEY REPOR T AND FINANCIAL STAfEMENTS FOR THE YEAR ENDED 31 MARCH 2026 We determined that the principal risks were related lo.. recognits.on of incoffE in the correct accounting period, management bias in accounting eslimales. presentation of separately disclosed items and management override of controls. In response lo the risks Identifi'ed we designed procedures which included. bul were not limited lo, reviewing grant documentation. agreeing financial statement disclosures to underlying supporting documentation, identifying and lesling joumal entries, reviewing Board and sub-committee meeting minutes, and evaluating the company's internal controls. There are inherent limitslions in the audit procedures described above. The more removed that laws and regulations are from financial Iransaclions. the less likely il is that we would become aware of non- compliance. Material misslalemenls that arise due to fraud ean be har¢Yer lo delecl than those that arise from error as they may involve deliberate concealment or collusion. A fvrther description of our responsibilities for the audit of the financial ststemenls is located on the Financial Reporting Council's website at". http."IlvAw.frc.org.ukJaudilorsresponsibililies. This descriptson forms part of our auditor's report. Use of our report This report is made solety lo the ehantable company's ry*mbots. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 20C6 and regulations made under that Act. Our audit work has been undertaken so that we might stale to the charitable company's members those matters we are required lo slate to them in an auditors, report and foi no olher purpose. To the fullest exlenl permitted by law. we do not accept or assume responsibility lo anyone other than the ¢harilable company and its members as a body, lor our audit work, for this report, or for the opinions we have formed. Miriam Hi¢k$on FCA CTA (Senior Statutory Audhorl for and on behalf of Xelnadin Audit Lirnittd Statutory Audltor Chartorod Accountants 5 Robin HI￿1 Lane Sutton Surrey SM1 2SW 17 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Statement of Financial Activities for the year ended 31 March 2026** (incorporating an income and expenditure account) |**Notes**
**Income from:**
Donations and legacies
2
Charitable activities
3
Other trading activities
4
**Total income**
**Expended on:**
Raising Funds
Charitable activities
Other
**Total expenditure**
8
**Net income/(expenditure)**
**before extraordinary item**
**Extradordinary item:**
9
Building Safety Fund:
Income
Expenditure
**Net income/(expenditure)**
**after extraordinary item**
**Transfers between funds**
13
**Net movement in funds**
**Reconciliation of funds:**
Fund balances brought forward
at 1 April 2025
**Fund balances carried forward**
**at 31 March 2026**|**Unrestricted**
**General**
**Funds**
**£**
405,582
-
204,359
**609,941**
50,674
494,344
-
**545,018**
64,923
-
-
-
**64,923**
-
**64,923**
171,695
236,618|**funds**
**Designated**
**Funds**
**£**
-
-
279,938
**279,938**
-
-
161,565
**161,565**
118,373
-
-
-
**118,373**
-
**118,373**
6,389,636
6,508,009|**Restricted**
**Funds**
**£**
318,250
200,391
-
**518,641**
-
518,641
-
**518,641**
-
139,124
(139,124)
-
**-**
-
**-**
20,498
20,498|**Total**
**2026**
**Total**
**2025**
**£**
723,832
714,864
200,391
98,300
484,297
129,463
**1,408,520**
**942,627**
50,674
43,378
1,012,985
924,349
161,565
182,078
**1,225,224**
**1,149,805**
183,296
(207,178)
139,124
1,796,832
(139,124)
(1,796,832)
-
-
**183,296**
**(207,178)**
-
-
**183,296**
**(207,178)**
6,581,829
6,789,007
6,765,125
6,581,829| |---|---|---|---|---| All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities. The accompanying notes form part of these financial statements. Full comparative figures for the year ended 31 March 2025 are shown in Note 19. 18 THE SALMON YOUTH CENTRE IN BERMONDSEY REPOR T AND FINANCIAL STA TEMENrs FOR THE YEAR ENDED 31 MARCH 2026 BALANCE SHEET AT 31 MARCH 2026 Company No. 00958986 Notts 2026 2025 FIXED ASSE Freehold land and buildings Otherfixed assets io 6.010,010 105.438 6.115.448 6,171,575 57,025 6,228,E£X) io CURRENT ASSEf5 Debtors Cash at bank and in hand li 474.204 239.511 713.715 105.292 374,690 4PJ.983 CREDITOR5: amounts falllng due withln one year 12 164.0381 1126,7541 Net Current Assets 649.6ri 353,229 NEf ASSETS 6.765.125 6,581,829 FUNDS Restricted funds Unrestricted funds- Land and Buildings fund Jim Guild Legacy fund Major Repairs provision General funds 14 20,498 20,498 13 6,010,￿) 6,171,574 218,C62 198,( 236,618 6.744,627 171,695 6,561,331 6,765.125 6,581,829 These Financial Statements have been prepared in accordance with the special provisions of Part 15 of the Cornpanie5 Act relating to small companies. Approved and authorised for issue by the Trustees on 11 2026 and signed on its behalf.. Carl Bauer Chair of Board of Trustees Emestina Larbi-odam Honorary Treasurer The accompanying notes fomi part of these financial statements. 19 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ |**Cash flow Statement for the year ending 31st March 2026**|MAIN CONTENTS PAGE'!A1|| |---|---|---| ||**Total**|**Total**| ||**2026**|**2025**| ||**£**|**£**| |**Cash flows from operating activities:**||| |Net cash (used in)/provided by operating activities|(18,217)|(6,959)| |MAIN CONTENTS PAGE'!A1||| |**Cash flows from investing activities:**||| |Purchase of fixed assets|(116,962)|(17,097)| |Change in cash and cash equivalents in the reporting period|(135,179)|(24,056)| |Cash and cash equivalents at the beginning of the reporting period|374,690|398,746| |**Cash and cash equivalents at the end of the reporting period**|239,511|374,690| |**Notes to the Cash flow Statement**|**Total**
**2026**|**Total**
**2025**| ||**£**|**£**| |**Reconciliation of net income to net cash flow from operating activities**||| |Net income for the reporting period|183,296|(207,178)| |Adjustments for:||| |(Increase) / decrease in debtors|(368,911)|(57,772)| |Increase / (decrease) in creditors|(62,716)|65,327| |Depreciation charges|193,644|192,664| |Loss on fixed asset disposal|36,470|-| |**Net cash (used in)/provided by operating activities**|(18,217)|(6,959)| |**Analysis of cash and cash equivalents**||| |Cash at bank and in hand|239,511|374,690| 20 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **1. NOTES TO THE FINANCIAL STATEMENTS** ## **ACCOUNTING POLICIES** ## **Basis of preparation** The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Statement of Recommended Practice for Charities (Second Edition, effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Salmon Youth Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The financial statements are prepared in sterling and monetary amounts are rounded to the nearest £. ## **Preparation of financial statements on a going concern basis** The Trustees have reviewed the budgets and cash flow forecasts for at least 12 months beyond the date of signing these financial statements. Having reviewed the cash flow forecasts and budgets for the year to 31 March 2028, and for the reasons given in the Trustees’ Report on pages 11 and 12, the Trustees consider it appropriate to prepare these financial statements on the basis that the Charity continues as a going concern for the foreseeable future. ## **Critical accounting judgements and estimates** In preparing these financial statements, management has made judgements, estimates and assumptions that affect the application of the charity’s accounting policies and the reported assets, liabilities, income and expenditure and the disclosures made in the financial statements. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. ## **Fund accounting** Unrestricted funds comprise accumulated surpluses and deficits and are available for use at the discretion of the Trustees in furtherance of the general charitable objectives. Restricted funds comprise grants received for, and their use restricted to, specific purposes, as specified by the donor. ## **Income recognition** All income is recognised once the charity has entitlement to income, it is probable that income will be received and the amount of income receivable can be measured reliably. ## **Donations and legacies** Donations and gifts and are recognised in full in the Statement of Financial Activities when there is entitlement, probability of receipt and the amount of income receivable can be measured reliably. ## **Grants** Grants are recognised in full in the Statement of Financial Activities in the year in which the charity has entitlement to the income, the amount of income receivable can be measured reliably and there is probability of receipt. ## **Income from charitable activities** Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods or services are provided. 21 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **1. NOTES TO THE FINANCIAL STATEMENTS (continued)** ## **Expenditure** Expenditure is accounted for on an accruals basis and includes irrecoverable VAT which is reported as part of the expenditure to which it relates. Costs of raising funds are those costs incurred to raise voluntary income and costs of trading activities for the purpose of raising funds. Charitable expenditure relates to costs incurred in delivering the charity’s activities and services to its beneficiaries. Governance costs are costs incurred in meeting the constitutional and statutory requirements of the charity. ## **Cash at bank and in hand** Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from inception. ## **Debtors** Short term debtors are measured at transaction price, less any impairment. ## **Depreciation** Depreciation is calculated to write off the cost of fixed assets over their estimated useful lives using the following rates: Freehold buildings - 2% straight line basis Fixtures and fittings - 15% to 33 1/3% straight line basis Motor vehicles - 25% straight line basis Freehold land is not depreciated. ## **Creditors and provisions** Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. ## **Employee benefits** Short term benefits including holiday pay are recognised as an expense in the period in which the service is received. Employee termination benefits are accounted for on an accrual basis and in line with FRS 102. ## **Pensions** The charity operates a defined contribution pension scheme; contributions are charged to the statement of financial activities as they become payable in accordance with the rules of the scheme. ## **Financial instruments** The charity only has financial assets and financial liabilities that qualify as basic financial instruments. Basic financial instruments, including trade and other debtors and creditors are initially recognised at transaction value and subsequently measured at their settlement value. 22 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** |**2**|**Donations and legacies**|**2026**|**2025**| |---|---|---|---| |||**£**|**£**| ||**Consists of donations from:**||| ||Individuals|136,950|265,291| ||Churches|12,342|8,664| ||Legacies|-|4,000| ||Corporate & Events|88,790|105,463| |||**238,082**|**383,418**| ||**Grants for general purposes:**||| ||The Bernard Sunley Foundation|15,000|10,000| ||The Childhood Trust|12,500|12,500| ||Hilary Crowe|50,000|-| ||Merriman Charitable Foundation|20,000|20,000| ||The Charity Service|25,000|-| ||Small grants|5,000|10,500| ||The Jacob Charitable Trust|30,000|30,000| ||Tom's Trust|10,000|10,000| |||**405,582**|**476,418**| ||**Grants for restricted purposes:**||| ||The Hargreaves Foundation - for apprentices and young|49,196|49,169| ||leaders programme.||| ||National Lottery - One year funding of knife crime art|20,000|-| ||project.||| ||Southwark Sports Fund - One year funding of youthwork|32,500|-| ||The Alan & Babette Sainsbury Charitable Fund - towards core|40,150|15,000| ||costs.||| ||Garfield Weston Foundation - towards youthwork program|-|25,000| ||costs.||| ||Chambers Wharf Community Enhancement Fund - Summer|13,790|27,580| ||scheme costs.||| ||Other restricted grants under £10,000**|31,134|34,322| ||The Hiscox Foundation - to fund delivery of the Young|-|15,000| ||Leaders and Apprenticeship programmes||| ||Drapers Charitable Foundation - towards core costs|-|15,000| ||BBC Children in Need - mentoring, counselling, and wrap-|13,875|1,125| ||around support||| ||Agilitas 2013 Charity Trust - to support work with young|-|30,000| ||David Riddell Memorial Fund - to provide counselling in your|-|11,250| ||Be Kind to Your Mind Phase 2 project||| ||Maudsley Charity - Be Kind to Your Mind Phase 2 project|65,582|15,000| ||Peabody Community Foundation - to support the Children's|18,170|-| ||Clubs programmes||| ||Angus Lawson Memorial Trust - One year funding of|18,623|-| ||Mixables||| ||Southwark Sustainable Food - Sustainable Food Small Grants|15,214|-| ||Fund||| ||Essex Chambers notional grant - pro bono legal work 2025-26|16|-| |||**318,250**|**238,446**| ||||| |||**723,832**|**714,864**| 23 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** ## **2 Donations and legacies** **Restricted grants under £10,000 included: £5,000 from the Souther Charitable Trust towards supportinig young people for education, work and community engeaement, £2,700 from Jack Petchey Foundation towards youthwork activities, £3,000 from Southwark North East Ward Neighbourhood Fund towards climbing activities. |**3**|**Charitable activities**|**2026**|**2025**| |---|---|---|---| |||**£**|**£**| ||**Restricted income:**||| ||Social Investment Business Foundation - Better Youth Spaces|58,408|-| ||funding of sports and office equipment||| ||Community Infrastructure Levy - funding for building|56,983|-| ||improvement works||| ||Charles Hayward Foundation - Targeted training and|25,000|19,800| ||employment support for NEET young people||| ||Charterhouse in Southwark - Towards staffing and delivery|10,000|-| ||of holiday schemes, day trips and residential time away for||| ||school holidays||| ||Southwark Council Commissioning - Positive Futures for|30,000|30,000| ||Young People Fund 2024-26. Youth and Play Commissioning||| ||The Maurice and Hilda Laing Charitable Trust - towards the|20,000|30,000| ||Resident Manager's post||| ||Southwark Council Cleaner Greener Safer Fund - Safer|-|8,500| ||Neighbourhood Fund Grant||| ||Southwark Sustainable Food - towards providing sustainable|-|10,000| ||food||| |||**200,391**|**98,300**| 24 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** |**4**
**Other trading activities**
Lettings
Resident volunteers’ accommodation
Club subscriptions
Hyde insurance refund
**5**
**Staff costs and numbers**
The weekly average number of employees was:
Full-time
Part-time
Staff costs were as follows:
Wages and salaries
Social security costs
Pension contributions|**2026**
**2025**
**£**
**£**
78,404
84,172
43,635
43,175
4,908
2,116
357,350
-
**484,297**
**129,463**
**2026**
**2025**
**Number**
**Number**
6
6
13
10
**19**
**16**
**2026**
**2025**
**£**
**£**
409,812
355,731
37,137
32,076
18,758
16,644
**465,707**
**404,451**| |---|---| One employee received emoluments exceeding £60,000 in the year (2025: 1). The key management personnel of the charity, are consided to be the trustees, the Chief Executive Officer, the Manager (Clubs Development) and the Manager (Sports and Arts). The total employee benefits of the key management personnel of the Trust were £167,792 (2025: £149,233). ## **6 Trustee's remuneration and related party transactions** No trustees received any remuneration for their services nor any reimbursed expenses during the year. Trustees and related parties donated £83,200 to Salmon during the year (2025: £103,420). T Bauer, the spouse of Trustee Carl Bauer, was employed as a cook and earned £18,680 during the year (2025: £17,420). £56,983 (2025:£nil) was paid to Third Way Interiors Ltd for lighting replacements during the year. Ben Gillam, son-in-law of trustee Adrian Greenwood, is a director of this company. 25 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** |**7**
**Analysis of expenditure**
**Staff costs**
**£**
Raising funds
-
Charitable activities
465,708
Building depreciation movement
-
**465,708**
**Comparative analysis**
**Staff costs**
**£**
Raising funds
-
Charitable activities
404,451
Building depreciation movement
-
**404,451**
**8**
**Analysis of expenditure**
**Direct costs**
**Direct and allocated costs**
**£**
Raising funds
50,674
Charitable activities
436,180
Building depreciation movement
-
**486,854**
**Comparative analysis**
**Direct costs**
**Direct and allocated costs**
**£**
Raising funds
43,378
Charitable activities
361,381
Building depreciation movement
-
**404,759**|**Other costs**
**Total costs**
**2026**
**£**
**£**
50,674
50,674
547,277
1,012,985
161,565
161,565
**759,516**
**1,225,224**
**Other costs**
**Total costs**
**2025**
**£**
**£**
43,378
43,378
519,898
924,349
182,078
182,078
**745,354**
**1,149,805**
**Allocated**
**costs**
**Total costs**
**2026**
**£**
**£**
-
50,674
576,805
1,012,985
161,565
161,565
**738,370**
**1,225,224**
**Allocated**
**costs**
**Total costs**
**2025**
**£**
**£**
-
43,378
562,968
924,349
182,078
182,078
**745,046**
**1,149,805**| |---|---| 26 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** |**8b Analysis of allocated costs**
**Management**
**£**
Raising funds
-
Charitable activities
312,523
Building depreciation movement
-
**312,523**
**Comparative analysis**
**Management**
**£**
Raising funds
-
Charitable activities
235,936
Building depreciation movement
-
**235,936**|**Governance**
**£**
-
30,093
-
**30,093**
**Governance**
**£**
-
28,515
-
**28,515**|**Premises**
**Total costs**
**2026**
**£**
**£**
-
-
234,189
576,805
161,565
161,565
**395,754**
**738,370**
**Premises**
**Total costs**
**2025**
**£**
**£**
-
-
298,517
562,968
182,078
182,078
**480,595**
**745,046**| |---|---|---| |**8c Governance cost**
Governance costs include:
Staff costs
Auditor’s remuneration:
Audit fee|**2026**
**2025**
**£**
**£**
11,493
11,355
18,600
17,160
**30,093**
**28,515**| |---|---| ## **9 Extraordinary item** As described more fully in Note 20 Combustible Cladding, the Government’s Building Safety Fund has provided funding under a Trust fund arrangement for the purpose of defraying eligible costs in connection with the removal and replacement of combustible cladding. During the year, SYC withdrew £139,124 (2025:£1,796,832) from the Trust Fund in reimbursement of previously incurred costs of £139,124 (2025: £1,796,832). ## **Notes forming part of the Financial Statements (continued)** 27 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ |**10 Tangible assets**
**Cost**
01 April 2025
Additions
Disposals
31 March 2026
**Depreciation**
01 April 2025
Charge for the year
Disposals
31 March 2026
**Net book value**
31 March 2026
31 March 2025|**£**
119,838
-
-
119,838
-
-
-
-
119,838
119,838
**Freehold**
**land**|**£**
9,103,894
56,983
(56,983)
9,103,894
3,052,158
182,078
(20,513)
3,213,723
5,890,172
6,051,737
**Freehold**
**Buildings**|**Total**
**£**
**£**
277,254
9,500,986
59,979
116,962
-
(56,983)
337,233
9,560,965
220,228
3,272,386
11,566
193,644
-
(20,513)
231,794
3,445,517
105,437
6,115,448
57,025
6,228,600
**Fixtures &**
**fittings**| |---|---|---|---| Sport England, the Big Lottery Fund and the London Borough of Southwark, hold legal charges over the freehold land at 43 Old Jamaica Road, London SE16 4TE. Grants given by these entities towards the redevelopment of the Salmon Youth Centre may become repayable should the freehold buildings cease to be used for the purpose for which the grants were given. |**11 Debtors**
Grants receivable
Tax recoverable
Accrued income
Sundry Debtors and prepayments
Hyde Housing settlement*|**2026**
**2025**
**£**
**£**
44,869
-
2,607
7,792
28,085
69,656
41,293
27,844
357,350
-
**474,204**
**105,292**| |---|---| *This settlement was paid by Hyde Housing on 7th May 2026 in respect of excess insurance premiums paid due to cladding on the building all of which has now been removed. |**12 CREDITORS: amounts falling due**
**within one year**
Deferred grants
Accrued expenses and other creditors
Tax and social security|**2026**
**2025**
**£**
**£**
13,120
49,272
41,187
63,451
9,731
14,031
**64,038**
**126,754**| |---|---| **Notes forming part of the Financial Statements (continued)** 28 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ |**13 Unrestricted funds**
**Designated funds**
Land and Buildings (a)
Major Repairs Provision (b)
Jim Guild Legacy (c)
General funds
**Comparative movement**
**Designated funds**
Land and Buildings (a)
Jim Guild Legacy (c)
General funds|**Balance at**
**01-Apr**
**2025**
**£**
6,171,574
-
218,062
171,695
**6,561,331**
**Balance at**
**01-Apr**
**2024**
**£**
6,353,652
233,062
164,508
**6,751,222**|**Income**
**£**
-
198,000
81,938
609,941
**889,879**
**Income**
**£**
-
-
605,881
**605,881**|**Expenditure**
**£**
(161,565)
-
-
(545,018)
**(706,583)**
**Expenditure**
**£**
(182,078)
(15,000)
(598,694)
**(795,772)**|**Transfers**
**Balance at**
**between**
**31-Mar**
**Funds**
**2026**
**£**
**£**
-
6,010,009
-
198,000
-
300,000
-
236,618
**-**
**6,744,627**
**Transfers**
**Balance at**
**between**
**31-Mar**
**Funds**
**2025**
**£**
**£**
-
6,171,574
-
218,062
-
171,695
**-**
**6,561,331**| |---|---|---|---|---| Note (a). Represents the extent to which funds are invested in freehold land and buildings for use by the Charity and therefore are not available for any other purpose. Note (b). Represents funds set aside to pay for future larger repairs, improvements, and major works to the building. Note (c). The Jim Guild Legacy Fund is being / will be applied towards: - (i) youth work, by funding a youth worker for the 6-9’s club and providing for the cost of trips and residentials for young people; - (ii) fundraising, by funding additional fundraising support to secure additional sources of grant funding, and **Notes forming part of the Financial Statements (continued)** 29 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **14 Restricted funds** |**14 Restricted funds**
Youthwork projects
Cladding project
Community Infrastructure Levy
**Comparative movement**
Youthwork projects
Cladding project
Concrete’ project|**Balance at**
**01-Apr**
**2025**
**£**
20,498
-

-
**20,498**
**Balance at**
**01-Apr**
**2024**
**£**
37,785
-
-
**37,785**|**Income**
**£**
461,658
139,124
56,983
**657,765**
**Income**
**£**
336,746
1,796,832
-
**2,133,578**|**Expenditure**
**£**
(461,658)
(139,124)
(56,983)
**(657,765)**
**Expenditure**
**£**
(354,033)
(1,796,832)
-
**(2,150,865)**|**Transfers**
**Balance at**
**between**
**31-Mar**
**Funds**
**2026**
**£**
**£**
-
20,498
-
-
-
-
**-**
**20,498**
**Transfers**
**Balance at**
**between**
**31-Mar**
**Funds**
**2025**
**£**
**£**
-
20,498
-
-
-
-
**-**
**20,498**| |---|---|---|---|---| Restricted Funds represent amounts received and expended for various youthwork projects as described in Note 3. Southwark Council awarded Salmon £56,983 from the Community Infrastructure Levy; this was used for building improvements. The balance carried forward of £20,498 represents funding received before 31 March 2026 for youtwork projects but which will be expended in 2026-27 and later years. ## **15 Analysis of net assets between funds** |Freehold land and buildings
Other fixed assets
Net current assets
**Comparative**
Freehold land and buildings
Other fixed assets
Net current assets
Net assets|**General**
**funds**
**£**
-
105,438
131,180
**236,618**
**General**
**funds**
**£**
-
57,025
114,670
**171,695**|**£**
6,010,010
-
497,999
**6,508,008**
**£**
6,171,575
-
218,061
**6,389,636**
**Designated**
**funds**
**Designated**
**funds**|**Total**
**2026**
**£**
**£**
-
6,010,010
-
105,438
20,498
649,677
**20,498**
**6,765,125**
**Total**
**2025**
**£**
**£**
-
6,171,575
-
57,025
20,498
353,229
**20,498**
**6,581,829**
**Restricted**
**funds**
**Restricted**
**funds**| |---|---|---|---| ## **Notes forming part of the Financial Statements (continued)** 30 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **16 Taxation** The Salmon Youth Centre is a registered charity and therefore is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities. ## **17 Liability of members** The Salmon Youth Centre is constituted as a company limited by guarantee and has no share capital. The liability of each member is limited to the sum of £1 per member. It is incorporated in England and its registered office is 43 old Jamaica Road, Bermondsey SE16 4TE. |**18 Operating leases**
Future minimum lease payments commitments under
non-cancellable operating leases:
Operating leases which expire:
Within one year
Between two to five years|**2026**
**2025**
**£**
**£**
9,775
10,394
10,405
13,312
**20,180**
**23,706**| |---|---| 31 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** ## **19 Comparative Statement of Financial Activities** ## **For the year ended 31 March 2025** |**General**
**Funds**
**Income and endowments from:**
**£**
Donations and legacies
476,418
Charitable activities
0
Other trading activities
129,463
**Total income**
**605,881**
**Expended on:**
Raising Funds
43,378
Charitable activities
555,316
Other
-
**Total expenditure**
**598,694**
**Net income/(expenditure)**
**before extraordinary items**
7,187
**Extradordinary items:**
Building Safety Fund:
Income
-
Expenditure
-
**Net income/(expenditure)**
**7,187**
**Transfers between funds**
-
**Net movement in funds**
**7,187**
**Reconciliation of funds:**
Fund balances brought forward at
1 April 2024
164,508
**Fund balances carried forward at**
**31 March 2025**
171,695|**Designated**
**Funds**
**£**
-
-
-
**-**
-
15,000
182,078
**197,078**
(197,078)
-
-
**(197,078)**
-
**(197,078)**
6,586,714
6,389,636|**Restricted**
**Funds**
**Total**
**2025**
**£**
**£**
238,446
714,864
98,300
98,300
-
129,463
**336,746**
**942,627**
-
43,378
354,033
924,349
-
182,078
**354,033**
**1,149,805**
(17,287)
(207,178)
1,796,832
1,796,832
(1,796,832)
(1,796,832)
**(17,287)**
**(207,178)**
-
-
**(17,287)**
**(207,178)**
37,785
6,789,007
20,498
6,581,829| |---|---|---| 32 **THE SALMON YOUTH CENTRE IN BERMONDSEY** _REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026_ ## **Notes forming part of the Financial Statements (continued)** ## **20 Contingent liability - Combustible Cladding** In 2008, as part of the redevelopment of the SYC freehold site, SYC granted Hyde Housing Association Limited (Hyde) a 127-year lease in consideration for the development of the ‘Phase 2’ building. Hyde procured the design and construction of the ‘Phase 2’ building which comprises three lower floors for SYC’s occupation above which there is a block of 26 flats. In summer 2020, Hyde, as head leaseholder, informed SYC that the ‘Phase 2’ building was covered with combustible cladding and that it was SYC’s legal responsibility, as freeholder, to arrange removal and replacement of the combustible cladding. In November 2022, the BSF awarded SYC a total grant of £5,786,241, inclusive of a pre-tender support award of £243,181 previously paid in December 2021. The remediation works were successfully completed in September 2024, since when the Certificate of Making Good Defects has been issued and the final payment made to the contractor. The BSF grant is provided under a Trust Fund arrangement solely for the purposes of defraying eligible costs incurred in connection with the removal and replacement of combustible cladding. The whole of the Trust Fund is held upon bare trust for the beneficiaries (who are the leaseholders of the 26 flats) and accordingly the outstanding balance is not included within SYC’s cash balances. Only amounts withdrawn from the Trust Fund to defray eligible costs are included within SYC’s income. ## **Contingent Liability** To the extent that the remedial costs are not fully covered by funding from the BSF, or other parties, SYC may be required to settle the unfunded obligation. The Trustees are still in the process of agreeing the final reconciled account with the Greater London Authority. 33