Con)pany no. 15491.98
Ch2Iity rio. ?82716
The ElfrFda S
(Li
uara
tee)
Report and Financial Statements
For the year
nded
31 March 2021
|The|Elfrida Society (l.irnited|by 6uaranteej|
|---|---|---|
||index to the Financial|St-tements|
||For the year end
d 33.|March 202~|
|l egal and|administrative|details|
|---|---|---|
|Report of|the Trustee||
|Report of|the independent|Auditors|
|Statement|of Financial Activities||
|Statement|of Cash Flow||
|Notes to the Financial Statements|||
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|production
agendas
fe
of direct delivery.|el ev|er more relevant
in th|er more relevant
in th|e current
climate as we seek to expand
our imp|e current
climate as we seek to expand
our imp|e current
climate as we seek to expand
our imp|e current
climate as we seek to expand
our imp|e current
climate as we seek to expand
our imp|act whilst
managing
our costs|act whilst
managing
our costs|act whilst
managing
our costs|
|---|---|---|---|---|---|---|---|---|---|---|---|
|Total income increased|by|E37,886to f324,398||compared
with 2019/20. Despite the increase,|||||our income totals also reflects|||
|reduced
income within|our|Adults Advocacy services|||and Sports Projects.|||||||
|During the year we spent 6342,507 on charitable||||activities
supporting|||our communities
programmes.|||This reflects|a f73,155|
|decrease
on 2019/20,|as a|result of an organisational|||restructure,|that|started
in early 2020 and continued
during||||2020/21 to|
|better balance the size and||shape of The|Elfrida|Society over time. This comprises||||an operational|deficit off18,109compared|||
|with 2019/20 6190,150.||||||||||||
|The Trustees||||||||||||
|The trustees
who are|also|directors
under|company||law, who served||during
the year and up to the|||date of this report are as||
|follows:||||||||||||
|Alexander
Leeson-Mill||Chair|||Resigned|on|31/07/2020|||||
|Patience Wilson||Chair|||Appointed|on|25/02/2021|||||
|Peter Wong||Treasurer/Vice-Chair||||||||||
|Martin
Petry||Interim|Chair||Appointed|on|01/07/2020|Resigned|on 25/02/2021|||
|Martin
Wallin||||||||||||
|Adrian
Brown||||||||||||
|Inarm Osborn||||||||||||
|Victor Khureya||Board Member|||Appointed|on|22/04/2020|||||
|Paul James Bartram|||||Appointed|on|05/05/2021|||||
|Fan Gu|||||Appointed|on|05/05/2021|||||
|Samira Hotobah-During|||||Appointed|on|05/05/2021|||||
|Stephen
William
Humphrey|||||Appointed|on|05/05/2021|||||
|Persey Oliver James|||||Appointed|on|05/05/2021|||||
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||||||||2020|
|---|---|---|---|---|---|---|---|
||||Restricted|Designated|Unrestricted|Total|Total|
|||Note||||||
|income and Endowments|from:|||||||
|Donations
and legacies|||||7,001|7,001|1,101|
|Charitable
activites:||||||||
|Community
services||3a|91,002|10,000|142,460|243,462|190,663|
|The Reach Fund||3b|||||11,188|
|Homelink
support 5|other|||||||
|services||3c|||42,954|42,954|36,744|
|Investments||3d|||25,889|25,889|43,440|
|Other income|||||5,092|5,092|3,376|
|Total Income|||91,002|10,000|223,396|324,398|286,512|
|Expenditure
on:||||||||
|Charitable
activities:||||||||
|Direct costs|||82,399|10,610|69,926|162,935|213,877|
|Support costs||||995|178,577|179,572|201,785|
|Total Expenditure|||82,399|11,605|248,503|342,507|415,662|
|Net gains/(losses)
on||||||||
|investments|||||||(61,000)|
|Net Income/(Expenditure)|||8,603|(1,605)|(25,107)|(18,109)|(190,150)|
|Transfers between
funds||||(1,421)|1,421|||
|Net movement
in funds|||8,603|(3,026)|(23,686)|(18,109)|(190,150)|
|Total funds at 1April 2020|||59,140|339,575|919,822|1,318,537|1,508,687|
|Total funds at 31March|2021||67,743|336,549|896,136|1,300,428|1,318,537|
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||||||||2020|
|---|---|---|---|---|---|---|---|
|||||Note||||
|Fixed assets||||||||
|Tangible fixed assets||||8|192,288||193,710|
|Investment|property|||9|750,000||750,000|
|||||||942,288|943,710|
|Current assets||||||||
|Debtors||||10|37,621||34,679|
|Cash at bank and||in|hand||339,329||375,876|
||||||376,950||410,555|
|Creditors: amounts|||due within 1year||(18,81.0)||(35,728)|
|Net current|assets/(liabilities)|||||358,140|374,827|
|Net assets||||12||1,300,428|1,318,537|
|Funds||||||||
|Restricted
funds||||||67,743|59,140|
|Unrestricted|funds|||||||
|Non-distributable|||reserves|||634,059|634,059|
|Designated
funds||||||336,549|339,575|
|General|funds|||||262,077|285,763|
|Total funds||||||1,300,428|1,318,537|
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|||||Note|2021|2020|
|---|---|---|---|---|---|---|
|Cash flows from operating|activities:||||||
|Net cash provided
by/(used
in) operating|||activities|15a|(55,884)|(149,460)|
|Cash fiows from investing|activities:||||||
|Interest income|||||25,889|43,426|
|Purchase of property
and other fixed||assets|||(6,552)||
|Disposal proceeds from sale of investment|||property|||639,000|
|Cash provided
(used in)/by|investing|activities|||19,337|682,426|
|Cash flows from financing|activities:||||||
|Repayment
of borrowing||||||(216,170)|
|Cash inflows from new borrowing|||||||
|Net cash provided
by/(used|in) financing||activities|||(216,170)|
|Decrease in cash and cash|equivalents|in the year|||(36,547)|316,796|
|Cash and cash equivalents|at the beginning||ofthe year||375,876|59,080|
|Cash and cash equivalents|at the end|ofthe year||15b|339,329|375,876|
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|Mat|es to te nanc-
I statem|es to te nanc-
I statem|ents|ents|ents|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|For|the year ended 31 IVlarch||2021|||||||||
|2.|Donations
and legacies|||||||||||
|||||||||||2021|2020|
||||||||Restricted|Designated|Unrestricted|Total||
|||||||||f|f|f|f|
||Donations
8 similar incoming||||resources||||7,001|7,001|1,101|
||||||||||7,001|7,001|1,101|
|3.|Charitable
activities|||||||||||
|||||||||||2021|2020|
||||||||Restricted|Designated|Unrestricted|Total|Total|
||||||||f|f|f|f|f|
|a.|Community
services|||||||||||
||London
Borough of Islington||||||||61,000|61,000|72,249|
||Pohwer||||||||53,996|53,996|96,834|
||Big Lottery||||||||||9,940|
||Arsenai
Football
Club|||||||||||
||Middlesex
County Cricket Club||||||||750|750|3,750|
||Map Squad||||||||||2,040|
||Women'sVote
Centenary||Fund|||||||||
||The Football Foundation||||||||1,200|1,200|850|
||Mr. R Mrs. Smith||||||||||5,000|
||Cripplegate||||||20,000|||20,000||
||Covid 19Response||||||60,002|||60,002||
||London Catalyst - The Samaritans||||||1,000|||1,000||
||Artemis
Foundation||||||||10,000|10,000||
||Charities
Aid Foundation||||||||10,000|10,000||
||HMRC JRS Grant||||||||3,514|3,514||
||The Baily Thomas Charitable|||fund|||10,000|||10,000||
||Richard Cloudesley's|Charitable|||fund|||10,000||10,000||
||Royal Mencap Southern||Division-Let's|||Get Digital|||2,000|2,000||
||||||||91,002|10,000|142,460|243,462|190,663|
|b|The Reach Fund||||||||||11,188|
||||||||||||11,188|
|c|Homelink
support
E.|CIther services||||||||||
||Fees||||||||||12,807|
||Individual
Service Fund||||||||1,275|1,275|1,423|
||Parents'
Advocacy 8|Parent||Link|||||41,679|41,679|22,514|
||||||||||42,954|42,954|36,744|
|d|Investment
Income|||||||||||
||Ambler tenants||||||||25,696|25,696|43,426|
||Bank Interest||||||||193|193|14|
||||||||||25,889|25,889|43,440|
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##
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|||||
|---|---|---|---|
|5.|Net. (Expenditure)/Income|||
||This is stated after charging:||2020|
||||E|
||Depreciation
/ Amortisation||7,109|
||Loss on disposal of fixed assets||2,340|
||Auditors'
remuneration:|||
||audit - for current year|4,219|3,872|
||Operating
lease rentals:|||
||equipment|5,160|3,560|
|6.|Staff costs and numbers|||
||Staff costs were as follows:||2020|
||||E|
||Salaries and wages|212,547|253,742|
||Social security costs|17,291|18,713|
||Other pension
costs|4,241|4,603|
|||234,079|277,058|
||Agency staff|1,760|4,597|
|||235,839|281,655|
||||2021|2020|
|---|---|---|---|---|
||||No.|No.|
|Community|services||19|19|
|Homelink|support|services||2|
|Support||||5|
||||23|26|
##
|For|the year ended 31 I'VIarch 2021|||||
|---|---|---|---|---|---|
|8.|Tangible fixed assets|||||
|||Freehold|Long|Furniture||
|||land and|leasehold|and||
|||buildings|land and|equipment||
||||buildings||Total|
||||E||F|
||Cost|||||
||At the start ofthe year|195,000|100,000|17,900|312,900|
||Additions
in year|||6,552|6,552|
||Disposals|||||
||At the end ofthe year|195,000|100,000|24,452|319,452|
||Depreciation|||||
||At the start ofthe year|53,585|50,800|14,805|119,190|
||Charge for the year|2,730|2,000|3,244|7,974|
||Eliminated
on disposal|||||
||At the end ofthe year|56,315|52,800|18,049|127,164|
||Net book value|||||
||At the end ofthe year|138,685|47,200|6,403|192,288|
||At the start ofthe year|141,415|49,200|3,095|193,710|
|Not|es to the r'inancial
statements|||
|---|---|---|---|
|For|the year ended 31March 2021|||
|9,|Investment
properties||2020f|
||Movement
in market/fair
value:|||
||Fair value at the start ofthe year|750,000|3.,450,000|
||Disposal proceeds||(639,000)|
||Realised gains/(losses)
on disposals||(61,000)|
||Fair value at the end ofthe year|750,000|750,000|
||Historicalcost|200,369|200,369|
##
|10.|Debtors|||||||2021|2020|
|---|---|---|---|---|---|---|---|---|---|
|||||||||f|f|
||Fees receivable|||||||17,582|19,435|
||Other debtors|||||||13,960|4,490|
||Prepayments||and accrued income|||||6,079|10,754|
|||||||||37,621|34,679|
|11.|Creditors|||||||2021|2020|
||||||||||f|
||Creditors:|amounts||due within|1year|||||
||Taxation|and|social|security||||5,341|5,616|
||Deferred|income||||||1,057|3,767|
||Other creditors|||||||8,185|21,630|
||Accruals|||||||4,227|4,715|
||Bank loan|||||||||
|||||||||18,810|35,728|
|12.|Analysis|of net assets between|||funds|||||
|||||||Restricted|Designated|General||
|||||||funds|funds|funds|Total funds|
|||||||f|f|f|f|
||Tangible|fixed assets||||47,200|55,417|89,671|192,288|
||Investment
properties||||||200,369|549,631|750,000|
||Net current assets|||||20,543|80,763|256,834|358,140|
||Net assets at||the end ofthe year|||67,743|336,549|896,136|1,300,428|
##
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|||||||Restricted|Designated|General|General||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||funds|funds|funds||Total funds|
|||||||F|E||f|E|
|Tangible
fixed assets||||||49,200|60,082|84,428||193,710|
|Investment
properties|||||||200,369|549,631||750,000|
|Net current assets||||||9,940|79,124|285,763||374,827|
|Net assets at the|end ofthe||year|||59,140|339,575|919,822||1,318,537|
|Movements
in funds|||||||||||
||||||Balance at|Incoming|Outgoing|Transfers||Balance at|
||||||1.04.20
E|resources
f|resources|to/(from)|f|31.03.21
f|
|Restricted funds:|||||||||||
|Premises fund|||||49,200||(2,000)|||47,200|
|The Sports Big Lottery|||||9,940||(9,295)|||645|
|Cripplegate||||||20,000|(10,424)|||9,576|
|Covid 19Response||||||60,002|(60,002)||||
|The Baily Thomas|Charitable||fund|||10,000||||10,000|
|London
Catalyst The||Samaritans||||1,000|(678)|||322|
||||||59,140|91,002|(82,399)|||67,743|
|Designated
funds:|||||||||||
|Power and Control|Group||||763|||||763|
|Parents'
Project|||||2,035||(2,035)||||
|Ambler Redevelopment|||||201,790|||(1,421)||200,369|
|Richard Cloudesley's||Charitable||fund||10,000||||10,000|
|The Reach Fund|||||6,326||(6,326)||||
|Fixed assets|||||58,661||(3,244)|||55,417|
|Purley Place|||||70,000|||||70,000|
||||||339,575|10,000|(11,605)|(1,421)||336,549|
|Unrestricted
funds:|||||||||||
|Non-distributable|reserves||||634,059|||||634,059|
|General funds|||||285,763|223,396|(248,503)|1,421||262,077|
||||||919,822|223,396|(248,503)|1,421||896,136|
|Total funds|||||1,318,537|324,398|(342,507)|||1,300,428|
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|Operating
lease commitmen|ts|ts||||||||
|---|---|---|---|---|---|---|---|---|---|
|As at 31 March the charity|had total future||minimum|lease payments|under|non-cancellable
operating|||leases|
|are as follows:||||||||||
||||||||2021|||
|Equipment:||||||||||
|Less than 1year|||||||5,160||3,992|
|Between
2 and 5 years|||||||9,958||7,630|
||||||||15,118||11,622|
|a) Reconciliation
of income/(expenditure)|||to net cash|from operating|activities||2021||2020|
||||||||f||f|
|Net movement
in funds for|the year before||revaluation||||(18,109)|(190,150)||
|Depreciation
charges|||||||7,974||7,109|
|Profit/(loss)
on disposal of fixed assets|||||||||2,340|
|Interest
on investments|||||||(25,889)|(43,426)||
|Gain/(loss)
on disposal of investments|||||||||61,000|
|(Increase)/decrease
in debtors|||||||(2,942)||3,634|
|Increase/(decrease)
in creditors|||||||(16,918)||10,033|
|Net cash provided
by/(used|in) operating|activities|||||(55,884)|(149,460)||
|b) Analysis ofcash and cash equivalents|||||||2021||2020|
||||||||f||f|
|Cash at bank and
in hand|||||||339,329|375,876||
##
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##
|Prior year statement
of|fin|ancial
activities||||||
|---|---|---|---|---|---|---|---|
||||||||2020|
|||||Restricted|Des(gnated|Unrestricted|Total|
||||Note|f|f|f|f|
|Income and Endowments||from:||||||
|Donations
and||legacies||||1,101|1,101|
|Investments||||||14|14|
|Charitable
activites||||||||
|Community|services||3a|9,940|18,815|173,096|201,851|
|Ambler tenants|||3b|||43,426|43,426|
|Homelink
support S.Other services||||||||
|Services|||3c|||36,744|36,744|
|Other income||||||3,376|3,376|
|Total Income and Endowments||||9,940|18,815|257,757|286,512|
|Expenditure
on:||||||||
|Charitable
activities||||||||
|Direct costs||||(7,940)|14,531|207,286|213,877|
|Support costs||||9,940|2,617|189,228|201,785|
|Total Expenditure|||4|2,000|17,148|396,514|415,662|
|Net Expenditure|||5|7,940|1,667|(138,757)|(129,150)|
|Net gains/losses
on investments||||||(61,000)|(61,000)|
|Transfer between
funds|||||58,840|(58,840)||
|Net movement
in funds||||7,940|60,507|(258,597)|(190,150)|
|Total Funds brought
forward||||51,200|279,068|1,178,419|1,508,687|
|at 1April 2019||||||||
|Total Funds carried forward||||||||
|at 31March|2020|||59,140|339,575|919,822|1,318,537|