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2024-09-30-accounts

Charity registration number 291433

Company registration number 01449394 (England and Wales)

THE STOCKWELL CENTRE (COLCHESTER) LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 Mrs Caroline Hiskey 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 c/o 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 - 17

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2024

The Members of Council present their report and accounts for the year ended 30 September 2024 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 2024.

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 2024, the charity’s unrestricted income exceeded expenditure by £9,441 (2023: £7,249).

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 counselling for the local community and continue to support the bursary funds.

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 STOCKWELL CENTRE (COLCHESTER) LIMITED

COUNCIL MEMBERS' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

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

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 have any beneficial interest in the company. All of the Members of Council are members of the company and guarantee to contribute £10 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' report was approved by the Board of Members Of Council.

Dr S Randall Council Member

20 March 2025

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 2024.

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

c/o The Old Exchange 64 West Stockwell Street Colchester Essex CO1 1HE

Dated: 20 March 2025

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2024

Unrestricted
Restricted
funds
funds
2024
2024
Notes
£
£
Income from:
Donations and legacies
2
608
127
Charitable activities
3
47,836
10,840
Investments
4
526
-
Total income
48,970
10,967
Expenditure on:
Charitable activities
5
39,529
11,265
Total expenditure
39,529
11,265
Net income/(expenditure)
9,441
(298)
Transfers between
funds
(2,000)
2,000
Net movement in
funds
8
7,441
1,702
Reconciliation of funds:
Fund balances at 1 October
2023
156,186
2,893
Fund balances at 30 September
2024
163,627
4,595		 Total
Unrestricted
Restricted
funds
funds
2024
2023
2023
£
£
£
735
525
-
58,676
44,551
11,355
526
569
-
59,937
45,645
11,355
50,794
38,396
13,690
50,794
38,396
13,690
9,143
7,249
(2,335)
-
-
-
9,143
7,249
(2,335)
159,079
148,937
5,228
168,222
156,186
2,893		 Total
2023
£
525
55,906
569
57,000
52,086
52,086
4,914
-
4,914
154,165
159,079

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

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

BALANCE SHEET

AS AT 30 SEPTEMBER 2024

Notes
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within
one year
14
Net current assets
Total assets less current liabilities
Creditors: amounts falling due after
more than one year
16
Net assets
Income funds
Restricted funds
18
Unrestricted funds		 2024
£
3,791
40,020
43,811
(6,207)		 £
159,972
37,604
197,576
(29,354)
168,222
4,595
163,627
168,222		 2023
£
3,643
33,523
37,166
(5,476)		 £
159,903
31,690
191,593
(32,514)
159,079
2,893
156,186
159,079

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

BALANCE SHEET (CONTINUED)

AS AT 30 SEPTEMBER 2024

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 2024.

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 20 March 2025

Dr S Randall

Trustee

Company Registration No. 01449394

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

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 amounts 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 or grantors 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 2024

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 non-recoverable 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).

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.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

1 Accounting policies

(Continued)

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

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.

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
£ £ £ £ £ £
Donations and gifts 608 127 735 525 - 525

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

3 Charitable activities

Consulting
room rents
Contract fees Courses and
lectures
£
£
£
Charitable income
56,566
240
1,870
Analysis by fund
Unrestricted funds
45,726
240
1,870
Restricted funds
10,840
-
-
56,566
240
1,870
For the year ended 30 September 2023
Unrestricted funds
44,311
240
-
Restricted funds
11,355
-
-
55,666
240
-		 Total
2024
£
58,676
47,836
10,840
58,676		 Total
2023
£
55,906
44,551
11,355
55,906

4 Income from investments

Unrestricted Unrestricted
funds funds
2024 2023
£ £
Interest receivable 526 569

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

5 Charitable activities

Provision of
consulting
rooms
Contract fees
passed on
Courses and
lectures
Catalyst and
Bursary fund
grants
£
£
£
£
Staff costs
17,153
-
-
-
Depreciation
270
-
-
-
Rates
423
-
-
-
Insurance
1,039
-
-
-
Light and heat
3,432
-
-
-
Repairs and maintenance
5,229
-
-
-
Postage and stationery
114
-
-
-
Telephone & Internet
742
-
-
-
Sundry expenses
1,640
-
-
-
Cleaning
2,738
-
-
-
Bank interest
2,448
-
-
-
Contract fees
340
480
-
-
Lecture expenses
-
-
1,024
-
35,568
480
1,024
-
Grant funding of
activities (see note 6)
-
-
-
11,265
Share of governance
costs (see note 7)
2,457
-
-
-
38,025
480
1,024
11,265
Analysis by fund
Unrestricted funds
38,025
480
1,024
-
Restricted funds
-
-
-
11,265
38,025
480
1,024
11,265
For the year ended 30 September 2023
Unrestricted funds
37,921
240
235
-
Restricted funds
-
-
-
13,690
37,921
240
235
13,690		 Total
2024
£
17,153
270
423
1,039
3,432
5,229
114
742
1,640
2,738
2,448
820
1,024
37,072
11,265
2,457
50,794
39,529
11,265
50,794		 Total
2023
£
17,333
219
452
1,206
3,295
5,225
143
543
950
2,154
2,245
2,143
235
36,143
13,690
2,253
52,086
38,396
13,690
52,086

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

6 Grants payable

Grants to individuals 2024
£
11,265
11,265		 2023
£
13,690
13,690

7 Support costs

Support costs Governance
costs
£
£
Accountancy
-
2,457
-
2,457
Analysed between
Charitable activities
-
2,457		 2024
£
2,457
2,457
2,457		 2023 Basis of allocation
£
2,253 Governance
2,253
2,253

Governance costs include fee for the independent examiners and payroll services of £2,457 (2023: £2,253).

8 Net movement in funds
Net movement in funds 2024 2023
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's independent examiner:
- for the independent examination of the charity's financial statements 1,785 1,617
- for other financial services 672 636
Depreciation of owned tangible fixed assets 270 219

9 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.

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

10 Employees

The average monthly number of employees during the year was:

2024 2023
Number Number
Administration 1 1
Employment costs 2024 2023
£ £
Wages and salaries 16,890 17,070
Other pension costs 263 263
17,153 17,333

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

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Land and
buildings
Fixtures,
fittings &
equipment
£
£
Cost
At 1 October 2023
159,090
16,933
Additions
-
339
At 30 September 2024
159,090
17,272
Depreciation and impairment
At 1 October 2023
-
16,120
Depreciation charged in the year
-
270
At 30 September 2024
-
16,390
Carrying amount
At 30 September 2024
159,090
882
At 30 September 2023
159,090
813		 Total
£
176,023
339
176,362
16,120
270
16,390
159,972
159,903

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

13 Debtors
2024 2023
Amounts falling due within one year: £ £
Trade debtors 3,104 2,865
Prepayments and accrued income 687 778
3,791 3,643
14 Creditors: amounts falling due within one year
2024 2023
Notes £ £
Bank loans 15 2,984 2,680
Other creditors 631 591
Accruals and deferred income 2,592 2,205
6,207 5,476
15 Loans and overdrafts
2024 2023
£ £
Bank loans 29,838 32,694
Payable within one year 2,984 2,680
Payable after one year 26,854 30,014
Amounts included above which fall due after five years:
Payable by instalments 8,525 11,255
The bank mortgage is secured by a fixed charge on the company's freehold property. It is repayable by
September 2032.
16 Creditors: amounts falling due after more than one year
2024 2023
Notes £ £
Bank loans 15 26,854 30,014
Other creditors 2,500 2,500
29,354 32,514

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

16 Creditors: amounts falling due after more than one year

(Continued)

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.

17 Retirement benefit schemes

Retirement benefit schemes
2024 2023
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 263 263

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 October Incoming Resources Transfers At 30
2023 resources expended September
2024
£ £ £ £ £
Colchester Catalyst Charity 1,055 7,590 (6,275) - 2,370
Centre Bursary Fund 1,218 127 (1,740) 2,000 1,605
Low Fee Scheme 400 1,270 (1,050) - 620
The Burton Trust 220 - (220) - -
Chemsford Diocese - 1,980 (1,980) - -
2,893 10,967 (11,265) 2,000 4,595
Previous year: At 1 October Incoming Resources Transfers At 30
2022 resources expended September
2023
£ £ £ £ £
Colchester Catalyst Charity 475 6,695 (6,115) - 1,055
Centre Bursary Fund 2,953 115 (1,850) - 1,218
Low Fee Scheme 380 540 (520) - 400
The Burton Trust 1,420 - (1,200) - 220
Chelmsford Diocese - 4,005 (4,005) - -
5,228 11,355 13,690 - 2,893

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2024

18 Restricted funds

(Continued)

The Members of the Council have resolved to transfer £2,000 (2023: £nil) in the year into the Centre Bursary Fund out of their unrestricted funds.

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 The Stockwell Centre.

Balkerne Gardens Trust

Grants are received from Balkerne Gardens Trust to fund counselling provided by The Stockwell Centre.

Chelmsford Diocese

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

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 October Incoming Resources Transfers At 30
2023 resources expended September
2024
£ £ £ £ £
General funds 156,186 48,970 (39,529) (2,000) 163,627
Previous year: At 1 October Incoming Resources Transfers At 30
2022 resources expended September
2023
£ £ £ £ £
General funds 148,937 45,645 (38,396) - 156,186

THE STOCKWELL CENTRE (COLCHESTER) LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2024

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 30 September 2024:
Tangible assets
159,972
-
Current assets/(liabilities)
33,009
4,595
Long term liabilities
(29,354)
-
163,627
4,595
Unrestricted
Restricted
funds
funds
2023
2023
£
£
At 30 September 2023:
Tangible assets
159,903
-
Current assets/(liabilities)
28,797
2,893
Long term liabilities
(32,514)
-
156,186
2,893		 Total
2024
£
159,972
37,604
(29,354)
168,222
Total
2023
£
159,903
31,690
(32,514)
159,079

21 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).