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2021-03-31-accounts

COMPANY REGISTRATION NUMBER: 01804906 CHARITY REGISTRATION NUMBER: 290493

The Holloway Neighbourhood Group Company Limited by Guarantee Unaudited Financial Statements

31 March 2021

GROMAN & COMPANY

Chartered Accountants 5 Violet Hill St. John's Wood London NW8 9EB

The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2021

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name

The Holloway Neighbourhood Group

Charity registration number 290493 Company registration number 01804906 Principal office and registered The Old Fire Station office 84 Mayton Street London N7 6QT The trustees John Rockel (Chair) Toby Lovell (Treasurer) Charles Bowker (Company Secretary) Sandrine Palmer Gabrielle Melvin Will Lewis Thomas Neumark Barry O'Donovan Munal Mehta Chief Executive Officer Lucy Bingham Company secretary Charles Bowker Independent examiner AI Groman FCA 5 Violet Hill St. John's Wood London NW8 9EB

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Structure, governance and management

Governing Document

Holloway Neighbourhood Group is constituted as a Company Limited by Guarantee (No. 01804906) incorporated on 30 March 1984 and a Registered Charity (No. 290493) registered on 9 November 1984. The company is governed by its Memorandum and Articles of Association and in the event of the company being wound up all members present and twelve months past are required to contribute an amount not exceeding £1.

Recruitment and Appointment of Trustees

Trustees are sought who have professional skills and experience and who represent the users of our services. The Board of Trustees regularly carries out a skills audit and seeks candidates with complementary skills and experience. We have identified a need to broaden the diversity spectrum of Trustees, both in terms of protected characteristics and lived experience. We are developing a recruitment strategy with the aim of both increasing the diversity of the Board so as to better represent the communities we serve and to fill recently identified skills gaps.

Potential Trustees are asked to observe a number of meetings of the Board of Trustees before the existing Trustees approve their application and formally vote them onto the Board of Trustees. One third of Trustees stand down from the Board of Trustees at the company's AGM, and elections (or reelections) of Trustees are carried out by the membership. At the first meeting after the AGM, Trustees vote to appoint the Chair, Treasurer, and Secretary.

Organisational Structure

The governance of the organisation is the responsibility of the Board of Trustees which delegates to the Chief Executive the day to day running of the organisation, including operational management and ensuring that the organisation's objectives are met. The Chief Executive attends Board of Trustees' meetings but has no voting rights.

OBJECTIVES AND ACTIVITIES

Vision: Empowered, happy and inclusive communities where all people are valued.

Mission: We provide support and services and build connections to empower people to lead fulfilled lives as part of their community.

Values:

  1. Respecting diversity

  2. Connecting and Connected

  3. Listening and Empowering

  4. Compassionate

  5. Striving for Quality

Statement on Public Benefit

Holloway Neighbourhood Group operates solely for the public benefit. When reviewing the charity's aims and objectives and in planning its future activities, the Trustees have referred to the Charity Commission's general guidance on public benefit.

The Charities Act 2011 sets out twelve kinds of activity that are recognised as charitable provided that there is sufficient demonstrable 'public benefit'. All our beneficiaries are individuals or communities that are socially and economically deprived and Holloway Neighbourhood Group carries out work in the following areas identified in the Act:

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Statement on Public Benefit (continued)

ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE

The year was dominated by the impact of the COVID-19 pandemic. As the country experienced a series of lockdown restrictions and their easing, the predominant needs of our local communities and hence the nature of our service delivery was constantly changing. At the start of the pandemic, we closed the doors of both the Old Fire Station community centre and the Stress Project therapy centre and our staff set up to work from their homes - gathering intelligence regarding the most pressing needs in our communities, mapping what services were being planned and delivered and by whom, and adapting our services to comply with restrictions and address changing needs.

Counselling

The pandemic resulted in an increased need for our counselling service - the national lockdown forced local support services to close, many individuals experienced mental health issues for the first time and others re-lived previous trauma. We responded by adapting our counselling programme to fast-track more people into the support they needed. We supported our counsellors to move from face-to-face delivery of their counselling sessions to delivery online and by telephone. We developed relationships with more referrers (e.g. more GPs and psychiatrists), increased our capacity to process referrals and undertake assessments, and in some cases reduced the length of our counselling programme to 12 weeks.

In addition to counselling being delivered by volunteer counsellors on placement with the Stress Project whilst completing their studies, grants from the London Community Foundation, Cloudesley, and the National Lottery Community Fund enabled us to also use paid counsellors to support people with more complex mental health needs. Using the CORE Outcome Measure, of the people who completed their course of counselling this year, 94% were above the clinical cut off score of 10 compared with 79% last year. We delivered 1,821 counselling sessions with 160 individuals benefitting. Despite making rapid changes to our delivery method, the impact of the counselling was similar to previous years. 52% showed improvements above the level of clinical significance - with their levels of distress moving from the clinical to non-clinical (healthy) population. 76% showed a reliable improvement in their wellbeing.

Online Classes

Before the pandemic, we delivered a busy timetable of classes from our centres. Throughout this year we have continued these classes online - supporting people in their own homes to maintain their wellbeing and social connections through weekly classes of art, creative writing, tai chi, yoga, Egyptian dance, mindfulness classes for adults and for young people, and 8-week mindfulness courses. During the year we delivered 230 sessions supporting 154 people.

"Yoga classes improve my physical and mental well-being. Also, it is lovely to see other people as I live alone"

"The class is a reminder that the Old Fire Station is still there even though I haven't been able to visit." "The Mindfulness course was excellent and I learnt a lot from Chris and other people on the course. The atmosphere was very supportive and my experience was very positive."

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Online Classes (continued)

"... the course was BRILLIANT. It was jam packed with meditations, ideas, subjects and suggestions to improve your life and well-being. Chris is a wonderful teacher - calm, patient, real, kind and encouraging. It was also helpful that we each got to share our experience in a safe environment every week via the zoom call. I am starting to live more in the present moment and coping with pain more effectively. THANK YOU."

We provided one-to-one support to people who were keen to join us online but needed some help to get started on Zoom.

"Charles got onto Zoom for the first time today. We hadn't seen each other for nearly a year. We were both grinning and waving and laughing a lot. He wants to practice again next week so that he can join the online worship with his church."?

"In Touch" Telephone Support

At the start of the pandemic, we quickly established "In Touch" a new telephone support service which offers a regular friendly chat, support in accessing essentials such as the delivery of food and medication, and encouragement to keep active in mind and body. Calls were made to individuals well known to Holloway Neighbourhood Group through their previous visits to the Old Fire Station Community Centre and the Stress Project, but we also welcomed new people, referred to our support from local food banks, mutual aid volunteers, the Council's "We Are Islington" helpline, care navigators and other local agencies. Our regular calls have been especially important to people who have been feeling very lonely - often without the technical skills or equipment to join our online classes or because their anxiety and vulnerability to COVID-19 meant they weren't meeting people in-person.

"Before the pandemic I enjoyed a busy life. I used to go to museums and galleries regularly and attended groups with Age UK and Help on Your Doorstep. This completely stopped last year, and I found myself alone with no one to talk to. I never had many close friends and my family live out of London. I also had some health problems that made things even worse.

I was referred to Holloway Neighbourhood Group for telephone calls and some help with using my computer. I have been receiving calls from you for a while now and they have cheered me up, even when I have been unwell. We talk about cooking and the British Museum, which is my favourite place to visit. The calls are always made by someone who is happy to listen to me moan and cry at times, but we have also laughed as well. They reassure me that I'm not the only person who feels this way. I have also had some help with using Zoom and plan to start some classes soon.

Now that things are starting to reopen, I have attended a women's discussion group at the centre. This was joyful, I had never met any of the four other women who attended but they were very friendly.

Receiving the calls, help with my computer and now starting to attend groups has meant that even as I become less mobile in old age, I can still connect with people and I am learning new things! Life can still be hard, and I do find myself lonely at times, but I am happier and looking forward to some normality in future."

Over the course of the year, we supported 255 individuals through 1,691 In Touch phone calls.

In-person Activities

When the easing of lockdown restrictions allowed, we re-opened both our centres. With strict implementation of COVID-safety measures such as 2-metre social distancing and the wearing of facemasks, some of our service users were delighted to return to in-person activities. 49 individuals attended bingo, the older men's social club, a new women-only conversation group and the film club at the Old Fire Station.

We were able to offer in-person counselling to some clients who had not been able to access sessions online or by telephone. In addition, we were able to deliver 29 sessions of shiatsu, reiki and massage to a total of 16 individuals.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

In-person Activities (continued)

A participant of an Art Class held at the Old Fire Station during the summer: "Thank you so much. I have missed you so much, it's been a live saving experience being with nice people again."

VOLUNTEERS AND TUTORS

As a small team we are extremely grateful for the contributions of our wonderful volunteers. We benefited from many new volunteers joining us, often while on furlough or looking to make changes to their careers. A total of 56 people volunteered with Holloway Neighbourhood Group this year. With great kindness and respect, they exemplify our values of connecting people. They acted in various roles including:

Our Tutors had to quickly adapt to delivering their classes online. They demonstrated an admirable ability to ensure participants felt welcome and engaged whilst continuing to teach new skills. Our focus groups with online class participants revealed that people welcomed the structure to their week provided by their classes and they felt more socially connected because the tutors facilitated time in the class for interaction with new friends.

"Petronella (Egyptian Dance tutor] has been fantastic being very positive and always cheerful. She has made the class accessible and inclusive for everyone"

PARTNERSHIPS

As part of our role as a Community Hub, we support networks and partnerships, providing capacity building support (especially around fundraising) for smaller community groups, and raising awareness of needs within marginalised communities.

The pandemic meant that joined up working was more important than ever and led to changes in the way that service providers and policy makers collaborated with each other. We contributed to new networks looking at issues such as social connectedness, mental health, and vaccine take-up. We also developed new partnerships with local mutual aid groups, food banks, social prescribers, and the We Are Islington helpline.

We led a partnership of local grassroots community groups supporting Black, Asian, Minority Ethnic and Refugee women to increase social cohesion. Together with our fantastic partners, and with financial support from Comic Relief, we ran women-only physical activity classes - this year online, and provided advice and signposting information in community languages to support women to access services and opportunities. With needs in the community exacerbated by the pandemic, our work included supporting families to access foodbanks, bi-lingual advice around welfare entitlements, supporting women experiencing domestic violence and harmful practices, technical advice to get on-line, and facilitating social networks between groups of isolated women. In this second year of the partnership, we supported

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

PARTNERSHIPS (continued)

384 women and delivered 436 physical activity classes. Through working in partnership, we are able to extend our reach - in the case of this project the beneficiaries reported 17 different preferred languages and 44% indicated that their English skills were beginner or elementary.

CONTINUING RESPONSE TO THE COVID-19 PANDEMIC AND FUTURE PRIORITIES

The Trustees are extremely grateful to our funders, whose support has enabled us to expand our service delivery during a year which presented increasing hardships for many individuals and families in our community. It has been an unprecedented year of ups and downs, and we expect to have to continue to operate within high levels of uncertainty for many months to come.

Our service users are significantly impacted by COVID-19, with many experiencing financial pressures and anxiety about mixing with people, leading to high levels of mental ill health and social isolation.

The future course of the pandemic is unknown, and it is difficult to predict when and to what extent life will return to "normal". With continuing high levels of need in our communities, and with different people requiring our services to be delivered in different ways, we are committed to further expansion of our service delivery - ensuring that service users have the choice of online, telephone and in-person support. We plan to continue to offer our In Touch telephone support to those who face difficulties in leaving their home and experience the highest levels of loneliness, to expand our work around digital inclusion, and to offer our other activities which support good health and wellbeing through a mixture of online, in-person and blended delivery. We will continue to implement appropriate measures around COVID security, including reducing class sizes so that we can implement social distancing and using outside spaces where possible.

Our services at the Stress Project are usually low cost, but in the past year we waived our charges to ensure access by those in most need. We will continue to offer services for free over the next year. Organisations that previously used our centres are also delivering fewer in-person activities, meaning that our centres are much quieter, especially during the evenings, and we are generating less income through room hire. As a result, we are more reliant than previously on grant funding to support our service delivery.

Financial review

The financial statements have been prepared in accordance with the requirements of the latest Statement of Recommended Practice (SORP).

The Statement of Financial Activities shows total income received in 2020/21 of £475,044 (2019/20: £290,736). Expenditure for the year was £358,501 (2019/20: £298,945). This resulted in a surplus, after taking account of gains on investments, of £173,038 (2019/20: deficit of 35,743). Total funds carried forward to 2021/22 are £652,814 (2020/21: £479,776). Cash resources were £165,473 (2019/20: £36,131) and we have invested £525,861 (2019/20: £470,322) in funds to provide a return which can be utilised for operational requirements.

Reserves Policy

The Trustees have examined the charity's requirements for reserves in light of the main risks to the charity. The target is to hold between 3 and 9 months running costs in unrestricted reserves, and it is confirmed that the existing level of reserves is appropriate:

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Reserves Policy (continued)

The Trustees review the level of reserves needed yearly, and whenever there are significant changes in our property requirements or staffing levels.

Risk Management

On a regular basis, the Board of Trustees actively reviews the major operational and business risks which the charity faces, and confirm that they have established systems to mitigate the significant risks. In the past year, this has included frequent review of the risk of COVID-19 transmission and subsequent adjustments to our service delivery and COVID-safety protocols. In our plans for service delivery, we have also taken account of fast-changing needs in our local communities and a difficult to to predict funding environment. Assessment of risks and threats to the organisation is the ongoing responsibility of the Chief Executive and such issues as they arise are taken to the Board of Trustees for discussion and action.

Responsibilities of the trustees

The Trustees (who are also the Directors of Holloway Neighbourhood Group for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the income and expenditure of the charitable company for that period.

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

· select suitable accounting policies and then apply them consistently;

· state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

· prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

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

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2021

Independent Examiner

A. I. Groman FCA of Groman & Company has been re-appointed as independent examiner for the ensuing year.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption.

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

John Rockel (Chair) Trustee

Toby Lovell (Treasurer) Trustee

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of The Holloway Neighbourhood Group

Year ended 31 March 2021

I report to the trustees on my examination of the financial statements of The Holloway Neighbourhood Group ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

AI Groman FCA Independent Examiner

5 Violet Hill St. John's Wood London NW8 9EB

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2021

2021 2020
Unrestricted Restricted
funds funds Total funds Total funds
Note
£		 £ £ £
Income and endowments
Donations and legacies 5
170,768		 204,674 375,442 106,143
Charitable activities 6
–		 – – 2,492
Investment income 7
4,189		 – 4,189 4,001
Other income 8
95,407		 6 95,413 178,100
-------------------------------- -------------------------------- -------------------------------- --------------------------------
Total income 270,364 204,680 475,044 290,736
================================ ================================ ================================ ================================
Expenditure
Expenditure on raising funds:
Costs of raising donations and
legacies 9
8,006		 – 8,006 7,421
Expenditure on charitable activities 10,11
143,312		 207,183 350,495 291,524
-------------------------------- -------------------------------- -------------------------------- --------------------------------
Total expenditure 151,318 207,183 358,501 298,945
================================ ================================ ================================ ================================
Net gains/(losses) on investments 12
56,495		 – 56,495 (27,534)
-------------------------------- -------------------------------- -------------------------------- --------------------------------
Net income/(expenditure) and net
movement in funds 175,541 (2,503) 173,038 (35,743)
================================ ================================ ================================ ================================
Reconciliation of funds
Total funds brought forward 477,273 2,503 479,776 515,519
-------------------------------- -------------------------------- -------------------------------- --------------------------------
Total funds carried forward 652,814 – 652,814 479,776
================================ ================================ ================================ ================================

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 12 to 21 form part of these financial statements.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Statement of Financial Position

31 March 2021

2021 2020
Note £ £ £
Fixed assets
Tangible fixed assets 17 2,182 3,174
Current assets
Debtors 18 26,310 27,203
Cash at bank and in hand 691,334 506,453
-------------------------------- --------------------------------
717,644 533,656
Creditors: amounts falling due within one year
Other creditors including taxation and social security 19 51,582 45,406
Accruals and deferred income 15,430 11,648
-------------------------------- --------------------------------
67,012 57,054
-------------------------------- --------------------------------
Net current assets 650,632 476,602
-------------------------------- --------------------------------
Total assets less current liabilities 652,814 479,776
-------------------------------- --------------------------------
Net assets 652,814 479,776
================================ ================================
Funds of the charity
Restricted funds – 2,503
Unrestricted funds 652,814 477,273
-------------------------------- --------------------------------
Total charity funds 22 652,814 479,776
================================ ================================

For the year ending 31 March 2021 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

John Rockel (Chair) Trustee

Toby Lovell (Treasurer) Trustee

The notes on pages 12 to 21 form part of these financial statements.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is The Old Fire Station, 84 Mayton Street, London N7 6QT.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: - No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Computer & office equipment - 20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited by guarantee

That charity is limited by guarantee of £1 per member without share capital.

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

5. Donations and legacies

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Donations
Donations 1,725 – 1,725
Grants
National Lottery Community Fund – 45,890 45,890
The London Community Foundation – 55,241 55,241
LB Islington VCS Grant 61,250 – 61,250
LB Islington Retail, Leisure & Hospitality Grant 107,793 – 107,793
Comic Relief - London Together – 59,058 59,058
Clarion Futures – 5,152 5,152
LB Islington S106 – – –
Octopus Stay Well Live Well – 25,515 25,515
Islington Giving – 1,546 1,546
Richard Cloudesley – 12,272 12,272
-------------------------------- -------------------------------- --------------------------------
170,768 204,674 375,442
================================ ================================ ================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Donations
Donations 1,481 – 1,481
Grants
LB Islington Local Initiatives Fund – 1,500 1,500
LB Islington VCS Grant 60,000 – 60,000
Comic Relief - London Together – 30,301 30,301
Clarion Futures – 7,373 7,373
LB Islington S106 – 1,760 1,760
Octopus Stay Well Live Well – 1,131 1,131
Islington Giving – 1,040 1,040
Richard Cloudesley – 917 917
Sport Islington – 640 640
---------------------------- ---------------------------- --------------------------------
61,481 44,662 106,143
============================ ============================ ================================
6. Charitable activities
Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2021		 Funds 2020
£ £ £ £
Other miscellaneous income –
–		 2,492 2,492
============== ============== ======================= =======================

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The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

7. Investment income

Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2021		 Funds 2020
£ £ £ £
Bank interest received 4,189
4,189		 4,001 4,001
======================= ======================= ======================= =======================
8. Other income
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Old Fire Station: Other income 206 – 206
Old Fire Station: Fees receivable 138 46 184
Old Fire Station: Hall & room hire 13,478 – 13,478
38 Mayton Street 13,468 – 13,468
Stress Project: Fees & outreach services 28,621 (40)
28,581
Stress Project: Rent & room hire 38,883 – 38,883
Stress Project: Other income 613 – 613
---------------------------- -------------- ----------------------------
95,407 6 95,413
============================ ============== ============================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Old Fire Station: Other income 343 – 343
Old Fire Station: Fees receivable 3,917 – 3,917
Old Fire Station: Hall & room hire 56,965 – 56,965
38 Mayton Street 26,509 – 26,509
Stress Project: Fees & outreach services 39,603 – 39,603
Stress Project: Rent & room hire 50,717 – 50,717
Stress Project: Other income 46 – 46
-------------------------------- -------------- --------------------------------
178,100 – 178,100
================================ ============== ================================
9. Costs of raising donations and legacies
Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Costs of generating income - Voluntary income 8,006 – 8,006
======================= ============== =======================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Costs of generating income - Voluntary income 6,289 1,131 7,421
======================= ======================= =======================

- 16 -

The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

10. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Old Fire Station 46,354 159,671 206,024
Stress Project 86,939 44,373 131,312
Support costs 10,019 3,139 13,159
-------------------------------- -------------------------------- --------------------------------
143,312 207,183 350,495
================================ ================================ ================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Old Fire Station 106,193 39,754 145,946
Stress Project 130,101 4,375 134,476
Support costs 11,102 – 11,102
-------------------------------- ---------------------------- --------------------------------
247,396 44,129 291,524
================================ ============================ ================================
11. Expenditure on charitable activities by activity type
Activities
undertaken
Support		 Total funds Total fund
directly
costs		 2021 2020
£ £ £ £
Old Fire Station 206,024
2,723		 208,747 147,482
Stress Project 131,312
5,508		 136,820 139,160
Governance costs –
4,928		 4,928 4,882
-------------------------------- ---------------------------- -------------------------------- --------------------------------
337,336
13,159		 350,495 291,524
================================ ============================ ================================ ================================
12. Net gains/(losses) on investments
Unrestricted
Total Funds		 Unrestricted Total Funds
Funds
2021		 Funds 2020
£ £ £ £
Gains/(losses) on cash held for
investment purposes 56,495
56,495		 (27,534)
(27,534)
============================ ============================ ============================ ============================
13. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2021 2020
£ £
Depreciation of tangible fixed assets 992 793
============== ==============

- 17 -

The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

14. Independent examination fees

2021 2020
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,220 2,220
========================== =======================

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2021 2020
£ £
Wages and salaries 166,147 144,104
Social security costs 10,237 8,882
Employer contributions to pension plans 7,707 6,880
-------------------------------- --------------------------------
184,091 159,866
================================ ================================

The average head count of employees during the year was 9 (2020: 7). The average number of full-time equivalent employees during the year is analysed as follows:

2021 2020
No. No.
Number of staff - Management 1 1
Number of staff - Other 8 6
-------------- --------------
9 7
============== ==============

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

16. Trustee remuneration and expenses

SORP 2015 requires the following statement to be made:- no remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

17. Tangible fixed assets

Equipment Total
£ £
Cost
At 1 April 2020 and 31 March 2021 5,881 5,881
======================= =======================
Depreciation
At 1 April 2020 2,707 2,707
Charge for the year 992 992
----------------------- -----------------------
At 31 March 2021 3,699 3,699
======================= =======================
Carrying amount
At 31 March 2021 2,182 2,182
======================= =======================
At 31 March 2020 3,174 3,174
======================= =======================

- 18 -

The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

18. Debtors

2021 2020
£ £
Debtors 15,032 17,453
Prepayments and accrued income 11,278 9,750
---------------------------- ----------------------------
26,310 27,203
============================ ============================
Other creditors including taxation and social security falling
due within one year
2021 2020
£ £
Social security and other taxes 3,666 2,193
Rental deposits 28,172 22,862
Other creditors 19,744 20,351
---------------------------- ----------------------------
51,582 45,406
============================ ============================
Deferred income
2021 2020
£ £
Amount deferred in year 15,430 11,648
============================ ============================

19. Other creditors including taxation and social security falling due within one year

20. Deferred income

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £7,707 (2020: £6,880).

- 19 -

The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

22. Analysis of charitable funds

Unrestricted funds

At 1 Apr Gains and At 31 Mar
2020 Income Expenditure Transfers losses 2021
£ £ £ £ £ £
General funds 95,273 270,364
(151,318)		 (43,000) 56,495 227,814
Property Fund 360,000 – – 35,000 – 395,000
Staffing Fund 22,000 – – 8,000 – 30,000
-------------------------------- -------------------------------- -------------------------------- ---------------------------- ---------------------------- --------------------------------
477,273 270,364
(151,318)		 – 56,495 652,814
================================ ================================ ================================ ============================ ============================ ================================
At 1 Apr Gains and At 31 Mar
2019 Income Expenditure Transfers losses 2020
£ £ £ £ £ £
General funds 130,418 246,074
(253,685)		 – (27,534) 95,273
Property Fund 360,000 –
–		 – – 360,000
Staffing Fund 22,000 –
–		 – – 22,000
-------------------------------- -------------------------------- -------------------------------- -------------- ---------------------------- --------------------------------
512,418 246,074
(253,685)		 – (27,534) 477,273
================================ ================================ ================================ ============== ============================ ================================
Restricted funds
At 1 Apr Gains and At 31 Mar
2020 Income Expenditure Transfers losses 2021
£ £ £ £ £ £
Restricted Funds 2,503 204,680
(207,183)		 – – –
======================= ================================ ===============+++++++================= ============== ============== =======================
At 1 Apr Gains and At 31 Mar
2019 Income Expenditure Transfers losses 2020
£ £ £ £ £ £
Restricted Funds 3,101 44,662
(45,260)		 – – 2,503
======================= ============================ ============================ ============== ============== =======================

- 20 -

The Holloway Neighbourhood Group

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2021

23. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2021
£ £ £
Tangible fixed assets 2,182 – 2,182
Current assets 650,632 – 650,632
------------------------------------- --------------------------- -------------------------------------
Net assets 652,814 – 652,814
=================================== ========================= ===================================
Unrestricted Restricted Total Funds
Funds Funds 2020
£ £ £
Tangible fixed assets 3,174 – 3,174
Current assets 474,099 2,503 476,602
-------------------------------- ----------------------- --------------------------------
Net assets 477,273 2,503 479,776
================================ ======================= ================================

24. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

2021 2020
£ £
Later than 1 year and not later than 5 years 39,000 39,000
============================ ============================

- 21 -