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2021-09-30-accounts

Charity Registration No. 291433

Company Registration No. 01449394 (England and Wales)

THE STOCKWELL CENTRE (COLCHESTER) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Members Of Council Mr N W Cornes
Mr R O Bartholomew
Dr S Randall
Dr J T Bisdee
Secretary Gillian Wicks (Resigned 9th October 2020)
Caroline Hiskey (Appointed 16th November 2020)
Charity number 291433
Company number 01449394
Registered office The Stockwell Centre
44 East Stockwell Street
Colchester
Essex
CO1 1SR
Independent examiner Rachel Skells BA FCA
Whittle & Partners LLP
The Old Exchange
64 West Stockwell Street
Colchester
Essex
CO1 1HE

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

CONTENTS

Page
Council Members' report 1 - 2
Independent examiner's report 3
Statement of financial activities 4
Balance sheet 5 - 6
Notes to the financial statements 7 - 18

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

The Members of Council present their report and accounts for the year ended 30 September 2021 and incorporating the reference and administrative information.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's Articles of Association , the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objectives are concerned with the administration of The Stockwell Centre, which provides consultation and treatment for patients suffering from psychological or emotional disorders, and educational courses in psychodynamic principles and their application in professional practice . The provision of the premises has enabled the professionals to work through The Stockwell Centre during the year to 30 September 20 21,

The policies adopted in furtherance of these objectives are Risk Management; Investment; Vulnerable Beneficiaries; Conflict of Interest; Volunteer Management; Complaints Handling and there has been no change in these during the year.

The Members of Council have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Details of the activities and the achievements of the charity during the year are given in The Stockwell Centre’s AGM report and a copy of this is available on request.

Financial review

For the year to 30 September 2021, the charity’s unrestricted income exceeded expenditure by £1,345 (2020: income exceeded expenditure by £15,161).

The financial statements do not include an evaluation of the voluntary contribution made to the running of The Stockwell Centre by its members. The Members of Council recognise and appreciate this contribution of their time.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to 26 weeks' expenditure. The Members of Council considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Members of Council have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Plans for future periods

The long term desire remains to provide psychotherapy and counsel l ing for the local community and continue to support the bursary funds.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2021

Structure, governance and management

The charity is a company limited by guarantee , incorporated on 19 September 1979 and granted charitable status by the Charity Commission on 2 May 1985. Its governing document is its Memorandum and Articles of Association, under which the Members of the Council of Management constitute the Charity's Trustees.

The Members of Council, who are also the directors for the purpose of company law, and who served during the year were:

Mr N W Cornes

Mr R O Bartholomew

Dr S Randall Dr J T Bisdee Mr B R Edwards (Resigned 14 December 2021)

Gillian Wicks was the Company Secretary to 9 October 2020, she was then replaced by Caroline Hiskey who was appointed on 16 November 2020.

New Council Members would be recruited by the Members of the Council for their skills and experience relevant to the Charity's work.

None of the Members of Council ha ve any beneficial interest in the company. All of the Members of Council are members of the company and guarantee to contribute £1 0 in the event of a winding up.

The Chair of the Practice Committee reports directly to the Members of Council and gives regular reports on the general running of The Stockwell Centre (Colchester) Limited at the quarterly Members of Council meetings.

The Council Members' r eport was approved by the Board of Members Of Council.

Dr S Randall Council Member

28 March 2022

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

INDEPENDENT EXAMINER'S REPORT

TO THE MEMBERS OF COUNCIL OF THE STOCKWELL CENTRE (COLCHESTER) LIMITED

I report to the Members of Council on my examination of the financial statements of The Stockwell Centre (Colchester) Limited (the charity) for the year ended 30 September 2021.

Responsibilities and basis of report

As the Members of Council of the charity (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 financial statements of the charity 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 financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act) . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 that in any material respect:

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 financial statements to be reached.

Rachel Skells BA FCA

Whittle & Partners LLP The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

Dated: 28 March 2022

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2021

Unrestricted
Restricted
funds
funds
2021
2021
Notes
£
£
Income from:
Donations and legacies
2
737
10
Charitable activities
3
28,506
12,090
Investments
4
48
-
Total income
29,291
12,100
Expenditure on:
Charitable activities
5
27,946
10,335
Net incoming resources
before transfers
1,345
1,765
Gross transfers between
funds
2,096
(2,096)
Net income/(expenditure) for
the year/
Net movement in funds
3,441
(331)
Fund balances at 1 October
2020
154,690
7,684
Fund balances at 30
September 2021
158,131
7,353		 Total Unrestricted
Restricted
funds
funds
2021
2020
2020
£
£
£
747
11,791
235
40,596
36,132
11,140
48
223
7
41,391
48,146
11,382
38,281
32,985
14,205
3,110
15,161
(2,823)
-
(850)
850
3,110
14,311
(1,973)
162,374
140,379
9,657
165,484
154,690
7,684		 Total
2020
£
12,026
47,272
230
59,528
47,190
12,338
-
12,338
150,036
162,374

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2021

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
14
Net assets
Income funds
Restricted funds
15
Unrestricted funds		 2021
£
3,597
45,523
49,120
(5,720)		 £
159,973
43,400
203,373
(37,889)
165,484
7,353
158,131
165,484		 2020
£
3,198
46,812
50,010
(5,350)		 £
159,435
44,660
204,095
(41,721)
162,374
7,684
154,690
162,374

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2021

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2021.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the Members Of Council on 28 March 2022

Dr S Randall

Trustee

Company Registration No. 01449394

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Accounting policies

Charity information

The Stockwell Centre (Colchester) Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Stockwell Centre, 44 East Stockwell Street, Colchester, Essex, CO1 1SR.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

1.2 Charitable funds

Unrestricted funds are available for use at the discretion of the Members of Council in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.3 Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Accounting policies

(Continued)

1.4 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes nonrecoverable VAT, and is reported as part of the expenditure to which it relates:

1.5 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% straight line

Provision for depreciation of the freehold property is not considered by the Members of the Council to be necessary as the estimated useful life exceeds fifty years. It is the company policy to have its property maintained in good condition, which prolongs its useful life and any depreciation arising would not be material.

1.6 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

1 Accounting policies

(Continued)

1.7 Financial instruments

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.8 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10 Taxation

As a charity, the company is exempt from tax on income and gains falling within Sec 505 of the Taxes Act 1998 or Sec 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives. No tax charges have arisen in the charity.

1.11 Fund accounting

1.12 Going concern and COVID-19

The coronavirus pandemic has significantly disrupted individuals’ personal lives and businesses’ economic prospects in the UK and across the globe. The UK entered lockdown in March 2020 and some restrictions and social distancing provisions remain in place.

The charity continues to be negatively affected by Covid-19. Income from non-member room renters remains low. Many have not returned to private face-to-face work at the Centre.

We have continued to prepare the accounts on a going concern basis and deem this appropriate. We do not consider that a material uncertainty about our going concern status currently exists. In making this assessment we have considered the likely operating conditions for a period of twelve months from the date of our approval of these accounts.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

2 Donations and legacies

Unrestricted Unrestricted Restricted Total Total Unrestricted Unrestricted Restricted Total
funds funds funds funds
2021 2021 2021
2020		 2020 2020
£ £ £ £ £ £
Donations and gifts 737 10 747
1,791		 235 2,026
Government grants - - -
10,000		 - 10,000
737 10 747
11,791		 235 12,026
The government grants received in the year to 30 September 2020 relate to COVID grants given by
Colchester Borough Council.
Charitable activities
Consulting Contract
Courses and		 Total Total
room rents fees lectures 2021 2020
£ £ £ £ £
Sales within charitable activities 40,356 240 - 40,596 47,272
Analysis by fund
Unrestricted funds 28,266 240 - 28,506
Restricted funds 12,090 - - 12,090
40,356 240 - 40,596
For the year ended 30 September 2020
Unrestricted funds 31,114 4,673 345 36,132
Restricted funds 11,140 - - 11,140
42,254 4,673 345 47,272

3 Charitable activities

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

4 Investments
Unrestricted Unrestricted Restricted Total
funds funds funds
2021 2020 2020 2020
£ £ £ £
Interest receivable 48 223 7 230

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

5 Charitable activities

Provision of
consulting
rooms
Contract
fees passed
on
Courses and
lectures
Catalyst and
Bursary
fund grants
£
£
£
£
Staff costs
15,216
-
-
-
Depreciation
269
-
-
-
Rates
349
-
-
-
Insurance
1,180
-
-
-
Light and heat
1,506
-
-
-
Repairs and
maintenance
2,627
-
-
-
Postage and stationery
132
-
-
-
Telephone
591
-
-
-
Sundry expenses
460
-
-
-
Cleaning
2,281
-
-
-
Bank interest
1,074
-
-
-
Contract fees
-
85
-
-
Lecture expenses
-
-
-
-
25,685
85
-
-
Grant funding of
activities (see note 6)
-
-
-
10,335
Share of governance
costs (see note 7)
2,176
-
-
-
27,861
85
-
10,335
Analysis by fund
Unrestricted funds
27,861
85
-
-
Restricted funds
-
-
-
10,335
27,861
85
-
10,335
For the year ended 30 September 2020
Unrestricted funds
30,345
2,370
270
-
Restricted funds
-
-
-
14,205
30,345
2,370
270
14,205		 Total
2021
£
15,216
269
349
1,180
1,506
2,627
132
591
460
2,281
1,074
85
-
25,770
10,335
2,176
38,281
27,946
10,335
38,281		 Total
2020
£
17,837
148
467
1,153
1,512
1,877
495
481
825
2,343
1,297
2,370
270
31,075
14,205
1,910
47,190
32,985
14,205
47,190

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

6 Grants payable

Grants to individuals
Support costs
Support
costs
Governance
costs
£
£
Accountancy
-
2,176
-
2,176
Analysed between
Charitable activities
-
2,176		 2021
£
2,176
2,176
2,176		 2021
£
10,335
10,335
2020 Basis of allocation
£
1,910 Governance
1,910
1,910		 2020
£
14,205
14,205

7 Support costs

Governance costs includes fees for the independent examiners and payroll services of £ 2,176 (2020- £ 1,910 ) .

8 Members Of Council

None of the Members of Council (or any persons connected with them) received any remuneration , benefits or expenses from the charity during the year.

9 Employees

The average monthly number of employees during the year was:

2021 2020
Number Number
Administration 1 1

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

9
Employees
Employment costs
Wages and salaries
Other pension costs		 (Continued)
2021
2020
£
£
15,019
17,635
197
202
15,216
17,837		 (Continued)
2021
2020
£
£
15,019
17,635
197
202
15,216
17,837
17,837

There were no employees whose annual remuneration was more than £60,000.

10 Tangible fixed assets

10
Tangible fixed assets
Land and
buildings
Fixtures,
fittings &
equipment
£
£
Cost
At 1 October 2020
159,090
15,706
Additions
-
807
At 30 September 2021
159,090
16,513
Depreciation and impairment
At 1 October 2020
-
15,361
Depreciation charged in the year
-
269
At 30 September 2021
-
15,630
Carrying amount
At 30 September 2021
159,090
883
At 30 September 2020
159,090
345
11
Debtors
2021
Amounts falling due within one year:
£
Trade debtors
2,787
Prepayments and accrued income
810
3,597		 Total
£
174,796
807
175,603
15,361
269
15,630
159,973
159,435
2020
£
2,388
810
3,198

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

12
Creditors: amounts falling due within one year
Notes
Bank loans
13
Other taxation and social security
Other creditors
Accruals and deferred income
13
Loans and overdrafts
Bank loans
Payable within one year
Payable after one year
Amounts included above which fall due after five years:
Payable by instalments		 2021
£
3,240
16
491
1,973
5,720
2021
£
38,629
3,240
35,389
19,315		 2020
£
2,650
-
360
2,340
5,350
2020
£
41,871
2,650
39,221
22,839

The bank mortgage is secured by a fixed charge on the company's freehold property. It is repayable by September 2032.

14 Creditors: amounts falling due after more than one year

Creditors: amounts falling due after more than one year
Notes
Bank loans
13
Other creditors		 2021
£
35,389
2,500
37,889		 2020
£
39,221
2,500
41,721

The accrual of £2,500 is the residue of monies (originally £30,000) owed to the estate of the late Dr D Paulley. Previous negotiations with Dr Paulley's family for a reduction of the loan secured by a second charge she had on the company's freehold property have been inconclusive. If not concluded satisfactorily the company could have a further contingent liability on the sale of the property (an event not currently planned for by the Members of Council). The Members of Council have made the Charity Commissioners aware of this matter.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

15 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Balance at
1 October 2019
£
Colchester Catalyst Charity
2,086
Centre Bursary Fund
5,221
Low Fee Scheme
90
The Burton Trust
2,260
Balkerne Gardens Trust
-
Chelmsford Diocese
-
9,657		 Movement in funds
Income
Expended
Transfers
Balance at
1 October 2020
£
£
£
£
10,410
(9,990)
-
2,506
242
(2,350)
-
3,113
770
(1,665)
850
45
-
(240)
-
2,020
-
-
-
-
-
-
-
-
11,422
(14,245)
850
7,684		 Movement in funds
Income
Expended
Transfers
Balance at
30 September
2021
£
£
£
£
5,775
(4,955)
(2,096)
1,230
10
(1,260)
-
1,863
1,720
(1,545)
-
220
60
-
-
2,080
920
(870)
-
50
3,575
(1,665)
-
1,910
12,060
(10,295)
(2,096)
7,353

The Members of the Council have resolved to transfer £0 (2020: £850) in the year into the Centre Bursary Fund and Low Fee Scheme out of their unrestricted funds.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

15 Restricted funds

(Continued)

Centre Bursary Fund

Applications are made from the Bursary Fund to assist in the funding of courses of therapy at the Centre which the client would not otherwise be able to pay for in full.

Colchester Catalyst Charity

Grants are received from Colchester Catalyst Charity to fund counselling provided by The Stockwell Centre.

Low Fee Scheme

Expenditure on the Low Fee Scheme is used to assist the funding of counselling at the Centre which the client would not be able to pay for in full .

The Burton Trust

Grants are received from the Burton Trust to fund counselling provided by T he Stockwell Centre.

Balkerne Gardens Trust

Grants are received from Balkerne Gardes Trust to fund counselling provided by T he Stockwell Centre.

Chelmsford Diocese

Grants are received from Chelmsford Diocese to fund counselling provided by T he Stockwell Centre.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2021

16
Analysis of net assets between funds
Unrestricted
Restricted
2021
2021
£
£
Fund balances at 30
September 2021 are
represented by:
Tangible assets
159,973
-
Current assets/
(liabilities)
33,664
9,736
Long term liabilities
(37,889)
-
155,748
9,736		 TotalUnrestricted
Restricted
2021
2020
2020
£
£
£
159,973
159,435
-
43,400
36,976
7,684
(37,889)
(41,721)
-
165,484
154,690
7,684		 Total
2020
£
159,435
44,660
(41,721)
162,374

17 Related party transactions

There were no disclosable related party transactions during the year (2020 - none) .