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2021-03-31-accounts

ABBEY COMMUNITY CENTRE

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2021

Company Number 2028600 Charity Number 295191

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association, dated 25th March 1986 (updated as required), and registered with the Charity Commissioners on 3rd October 1986.

Appointment, Induction and Training of Trustees

Trustees are sought prior to the AGM, via relevant organisations, targeted publicity, and nominations from the local community. A personal statement summarising key skills, relevant experience and reasons for nomination is required. When considering new trustees, the board has regard to the skills and expertise required for the organisation and its legal requirements under charity and company law. Trustees are elected and re-elected at the AGM, or co-opted during the year, in accordance with the Memorandum and Articles of Association.

New trustee’s induction includes detailed information on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and current and projected financial performance of the charity. During induction, they meet key employees and other trustees. Trustees are encouraged to attend appropriate training to facilitate undertaking of their role and a contract with an HR service offers advisory seminars on employer’s good practice. An annual strategic review day is held in addition to regular trustee board meetings and email communication. Trustees are invited and encouraged to attend Camden consultations and to represent the centre at key events.

Organisation

The charity is organised so that trustees meet regularly to provide strategic direction and development and oversee its affairs. Emails with key updates are regularly sent between meetings. The Centre Director is responsible for: ensuring trustees are fully informed of key changes in legislation and good practice; advise and implementation of policy, strategic direction and financial sustainability; adherence to all legal and financial requirements; and business and partnership development. An Operations & Project Delivery Manager is responsible for the daily running and administration of the charity and its activities, and an Income & Project Development Manager enables sustainability and innovation whilst ensuring and maintaining quality, outcomes, and outputs. The remaining staff are employed to deliver front-line services.

Risk Management

The centre has an organisational risk management strategy which comprises: an annual review of the risks the charity may face; the establishment of systems, procedures, and actions to mitigate those risks identified in the plan; and the implementation of procedures and actions designed to minimise any potential impact on the charity should those risks materialise. From March 2020 the centre also has a Covid -19 Risk Assessment which is reviewed monthly. These strategies enable trustees to ensure the centre is able to discharge its responsibilities and commitments.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

OBJECTIVES AND PRINCIPAL ACTIVITIES

Abbey Community Centre (ACC) is a registered charity and company limited by guarantee and managed by a voluntary board of trustees. Established in 1976, it is a successful, vibrant community facility and resource providing a safe and welcoming meeting place. The centre exists to improve the quality of life for local people by offering excellent activities and services which provide a range of educational, recreational, cultural, and social opportunities and engagement. We provide information to users and the community on a wide range of matters, and signpost and refer them appropriately. It is a place people from diverse backgrounds come to socialise, learn, engage, and enjoy. Building community cohesion between communities to improve people's quality of life. We work in consultation and partnership with the local community and statutory and voluntary agencies in developing our programme and responding to emerging need and new initiatives.

In addition, Abbey Community Centre aims to: -

The local community is largely defined as the Kilburn ward of the London Borough of Camden, although the centre’s services are open to all Camden residents and the local community. The Indices of Multiple Deprivation (IMD) 2015 rank Camden 69[th in] England for overall deprivation and 65[th] for income deprivation (out of 326, 1 being the most deprived). The Kilburn ward is culturally and racially diverse and densely populated with 57.9% of people 65+ living alone and 18% lone parent households. The IMD 2015 evidence substantial social deprivation. Within Camden, Kilburn is ranked 2nd for Multiple Deprivation & Income Deprivation affecting Older People and Children. Four of Kilburn Priory’s Lower Super Output Areas are in the 30% most deprived in England for Overall Deprivation and Probability of Loneliness for people aged 65+ and within 10% of the most deprived for Income Deprivation, especially affecting Older People and Children.

Public Benefit

We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future services. The board of trustees consider how our planned services will contribute to the aims and objectives they have set.

Principal activities undertaken to achieve our aims for the public benefit

The centre’s usual principal activities include a crèche; baby & toddler stay & play drop-ins; baby massage; parenting advice and information; Kilburn Good Neighbours befriending scheme for isolated

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

and vulnerable over 60’s; Community Time Camden (CTC), time and skills social exchange for over 50’s; CHAPS project of activities for isolated older men; Neighbours2Friends evening and weekend activities and days out intergenerational project; Tech Buddies, a volunteer project tackling the digital divide by increasing and improving access to digital and remote activities, services and information; Abbey’s Saturday Community Café; IT; exercise, health & wellbeing and sewing classes for all ages; monthly councillors’ surgery; self-help groups including AA and CA and several social and recreational activities including a community choir, boccia, nordic walking, yoga, taekwondo, dancing, cooking ,arts and crafts, creative writing, crochet, bridge, bingo and children’s dance and piano classes. The Henna Asian Women’s group is based at the centre, and they and the South Sudan Women’s Skills Development organisation provide services specific to their users in addition to the centre’s own programme.

Due to government Covid restrictions most of our activities could not take place in the centre building during the year. As many activities as possible were provided remotely via Zoom or telephone, and a restricted number of activities including our crèche, drop-in, Food Club, men’s fitness and colouring calm were provided in centre, in small socially distanced groups, when Covid-19 government restrictions allowed.

ACHIEVEMENTS AND PERFORMANCE

2020-2021 was a very challenging year due to the Covid-19 epidemic and the effect this had on people’s lives and our community centre. We were very successful in quickly adapting our activities from in centre to remote provision, both by Zoom and telephone, to offer as many activities, support, and information as possible. We were also very successful in securing government and charitable trust Covid support grants and project funding to enable us to continually adapt our centre building and IT resources and expand our programme of activities to meet identified need and outcomes.

Zoom classes included, exercise, yoga, tai chi, cooking, book club, afternoon tea, colouring calm, recycle art, IT support, stay and play, crèche, story time, rhyme time, choir, and dance. Additionally, we provided weekly/fortnightly telephone call support and information to our users; outreach support, advice, and referral for families with complex and layered needs; weekly updated website, and monthly newsletter with all our activities and information and links to other local activities and support and information; and Food Club providing essential weekly food to those most in need and volunteers shoppers for those who were shielding.

The centre staff and board were actively involved in several key partnerships, funding bids and LBC consultations including LB Camden’s Strategic Partners, LB Camden Community Health Champions, Big Lottery Ageing Better project, Camden Community Centres Consortium (C4), LB Camden Abbey Road Regeneration Project, and Wates corporate partnership.

Key achievements during the year include:

Project, Activities and Outreach delivery

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

Fundraising and Sustainability

Partnerships and collaboration

Performance Monitoring

The centre utilises external and internal performance management and quality control systems. External systems include independent organisational diagnostics reports, annual Ofsted registration, and inspection and Camden Children’s Centre Services monitoring and evaluation for our childcare services. The London Borough of Camden also monitors and evaluates all our services on a regular basis. Performance and evaluation reports are provided for all charitable trusts which fund us. Staff and volunteers working with children and vulnerable people undergo DBS screening and attend regular safeguarding training

Internal quality control systems include review days, registers, user involvement and feedback forms, questionnaires and focus groups and the detailed annual evaluation and monitoring questionnaire

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

which provides in depth information regarding the outcomes, quality, and benefits of our services. The centre has up to date policies and procedures in place to ensure high quality performance management and services. Overall, the centre achieves excellent performance reports from these quality systems with few recommendations for improvement.

Local Partnership and Project Work

The centre is widely involved in collaborative and partnership work and develops further opportunities by being actively involved in new initiatives both locally, Camden-wide and nationally. Partnership working benefits our users as it identifies need and gaps in provision, prevents duplication of services and enables accurate referral and information regarding partnership organisations. It enables access to funding streams and increases our effectiveness and resilience through joint provision of services and the exchange of good practice, policies, and information.

The Centre Director is a member of Camden Community Centres Consortium (C4) which meets regularly to develop strategy and joint working initiatives and funding opportunities. C4 is involved in consultation with Camden officers, councillors, and other stakeholders regarding key issues such as funding, leases, rental charges, health, regeneration projects, volunteering, corporate social responsibility, and community involvement.

As previously mentioned, the centre is involved in key partnership work and funding programmes with LB Camden, Central and North West London NHS Foundation Trust, C4 and Age UK Camden. The centre also works in partnership with other local organisations to provide services which include the Felix Project, Mary Ward Centre, Restart, Master Gardeners, Wild About Hampstead Heath, The Challenge, Westminster Kingsway College, Street Bank, Good Gym, North London Cares, Age UK Camden for Good Neighbour Schemes, South Sudan Women’s Skills Development and Henna Asian Women’s Association to name but a few.

FINANCIAL REVIEW

The centre managed well financially during this challenging period of Covid-19 restrictions. Although we lost all centre-based rental income, we were very successful in securing government and charitable trust Covid support grants and project funding to enable us to quickly adapt our staff and centre programme to remote provision and expand our outreach and support to meet identified need and outcomes. Income increased by 1.8 % to £347,968 whilst expenditure decreased by 12% to £274,886.

The core annual grant from LB Camden remained static at £60,000 (excluding current rental allocation of £19,000), as did Camden Children’s Centre Services £40,000 annual contract for early years DropIns. A substantial part of the centre’s income, £75,000, was raised from government and charitable trust Covid-19 support grants. Project funding received included John Lyon’s Charity, £20,000, for our crèche and outreach programme; The National Lottery Community Fund, £25,000; Ageing Better in Camden, £20,000 (Big Lottery); Comic Relief, £14,332; The Hampstead Wells and Campden Trust, £9,208; and City Bridge Trust, £9,431 for our community activities programme.

Annual expenditure decreased by 12% to £274,886 due to reduced staffing, project delivery, cleaning, rates, and refuge costs. Net income over expenditure for the year was £73,082 of which £21,108 is restricted income for our Community Activities Projects and £36,817 was designated to the Employee Costs and Pensions Fund.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

The main expenditure was employee costs totalling £228,500. Direct project costs, excluding employee salary costs, were £17,061. Support costs include Covid-19, office and equipment costs, £12,012; legal and professional fees, £6,724; audit fee, £4,420; cleaning £3,000; telephone and wi-fi, £1,666; and light & heat, £1,041.

The total cumulative balance stands at £382,593. £116,347 is restricted funds, £161,817 is designated funds and £104,429 is unrestricted general funds. £22,779 is restricted for children’s services for under-threes; £83,241 is restricted for the community activities programme; and £10,327 for core costs. £161,817 is designated, £106,817 to the Employee Costs and Pension Fund which enables the employers to fulfil their contractual obligations, including pension, sick, maternity and redundancy pay, and inflationary uplift and salary increases; and £55,000 to the building rent and maintenance fund to cover repairs, rent, rates and development of resources. Our total reserves which include restricted, designated, and unrestricted funds equate to approximately 14 months running costs at projected staff and service provision for the next year.

Reserves Policy Unrestricted Funds are needed to:

  1. Meet organisational employee, legal, financial, health and safety requirements and obligations.

  2. Quickly Implement any changes in the above requirements.

  3. Enable implementation of short and long-term objectives and outcomes from our Business Plan.

  4. Enable a swift reaction to new and priority needs and demand and designate funding to projects at short notice.

  5. To cover employee costs; salary increments, pension, maternity, sick and redundancy pay.

  6. To cover core administration and support costs without which the centre could not function.

Abbey Community Centre requires an adequate level of reserves to;

  1. Meet the Charities Commission recommended good practice of having a minimum of 3 months and a maximum of 3 years running costs as financial reserves. The centre’s general unrestricted and undesignated reserves of £104,429 represent approximately 4 months current running costs. Our general unrestricted, (£104,429) and designated (£161,817) funds of £266,246 represent approximately 9.5 months current running costs Our total funds of £382,593, which include restricted, designated, and unrestricted funds equate to approximately 13.5 months current running costs.

  2. Meet all commitments if circumstances arise where the trustees are obliged to wind down the company, approximating to a minimum of 3 months running cost plus employee redundancy entitlement. The introduction by LB Camden of high rental charges for their community buildings has increased the need for this. The designated funds of £161,817 include costs for this.

  3. Meet the requirements of The Pensions Act 2007 whereby from 1st April 2019 we will contribute a minimum of 3% of a contributing employee’s salary. The designated employee fund of £106,817 includes the costs for this.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

  1. Safeguard the centre’s activity and project delivery commitment in the event of delays and or withdrawal in receipt of grants and funding. This approximates to 15% of total grant income, £39,573.

  2. Provide for contingencies and risks which cannot be met from annual income when they arise.

  3. A fund of £10-15,000 to designate to special projects to quickly meet an identified need.

  4. To meet any short term statutory, legal or employee obligations such as staff sickness, maternity cover, IT renewal, building maintenance, or any cash-flow difficulties.

The centre aims to maintain an appropriate level of reserves through fund-raising, income generation and diversification, and considering appropriate investment accounts. The Treasurer or Centre Director will include a report on the level of reserves at year end and steps will be taken to address any issues which may arise. The policy will be reviewed annually considering any changes in circumstances.

PLANS FOR FUTURE PERIODS

In addition to the current programme of services, partnership work and planning for the new centre we will continue to review and develop our Covid-19 Policy and Action Plan, services and infrastructure and adapt to changes in public health, financial, evaluation and monitoring criteria to ensure that we meet our commitments to public benefit in the safest, most cost effective and efficient way.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also the directors of Abbey Community Centre for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of 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.

•Make judgments and accounting estimates that are reasonable and prudent.

•State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.

The trustees are responsible for maintaining proper accounting records which 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 the group] and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

•there is no relevant audit information of which the charitable company's auditors are unaware; and

•the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2021

AUDITOR

The auditors, Goldwin’s Chartered Accountants, offer themselves for appointment in accordance with section 485 of the Companies Act 2006.

Signed on behalf of the board of trustees

Ms Diana Young Chair

Date: 08/09/2021

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2021

Opinion

We have audited the financial statements of Abbey Community Centre (the ‘Charity’) for the year ended 31st March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

•give a true and fair view of the state of the Charity’s affairs as at 31st March 2021 and of its income and expenditure for the year then ended;

•have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

•have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRCʼs Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2021

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

•the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

•the trustees’ report (incorporating the directors’ report) have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

•adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us;

•the financial statements are not in agreement with the accounting records and returns;

•certain disclosures of trusteesʼ remuneration specified by law are not made; or

•we have not obtained all the information and explanations necessary for the purposes of our audit.

Responsibilities of the trustees

As explained more fully in the trusteesʼ responsibilities statement, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2021

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud are set out below.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2021

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

This report is made solely to the Charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

09/09/2021

Anthony Epton (Senior Statutory Auditor) for and on behalf of Goldwins Limited Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG

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Abbey Community Centre (Company Limited By Guarantee)

Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2021

Unrestricted
Funds
Note
£
Income from:
3
2,046
5
140,966
1,026
6,050
4
113
150,201
6
98,227
-
-
98,227
7
51,974
-
51,974
Reconciliation of funds:
214,272
266,246
Donations and legacies
Charitable activities
Investments
Core Community Centre
Childrens' Services
Community Activities Programme (CAP)
Charitable activities
Net movement in funds
Total funds brought forward
Total funds carried forward
Net income / (expenditure) for the year
Transfers between funds
Total expenditure
Total income
Expenditure on:
Core Community Centre
Childrens' Services
Community Activities Programme (CAP)		 Restricted
Funds
£
-
-
60,000
137,767
-
197,767
-
60,179
116,480
176,659
21,108
-
21,108
95,239
116,347		 2021
Total
Funds
£
2,046
140,966
61,026
143,817
113
347,968
98,227
60,179
116,480
274,886
73,082
-
73,082
309,511
382,593		 2020
Total
Funds
£
3,348
116,124
63,656
158,278
211
341,617
106,931
61,491
145,650
314,072
27,545
-
27,545
281,966
309,511

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the financial statements.

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Abbey Community Centre (Company Limited By Guarantee)

Balance sheet

As at 31 March 2021

Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
15
Total unrestricted funds
Total funds
Unrestricted funds:
Designated funds
General funds
Net current assets
Total assets less current liabilities
Total net assets
Funds
Restricted funds
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Tangible assets		 2021
£
-
421,374		 2021
£
-
382,593		 2020
£
10,000
340,494		 2020
£
-
309,511
421,374
38,781		 350,494
40,983
161,817
104,429		 125,000
89,272
382,593 309,511
382,593 309,511
116,347
266,246		 95,239
214,272
382,593 309,511

The financial statements have been prepared in accordance with the special provisions for small companies under Part15 of the Companies Act 2006.

08/09/2021

and signed on their behalf by:

Ms Diana Young

Chair

Company registration no. 2028600

The attached notes form part of the financial statements.

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Abbey Community Centre (Company Limited By Guarantee)

Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.

The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

b) Going concern

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether grants or grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.

d) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

e) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

f) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which

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Notes to the financial statements

For the year ended 31 March 2021

1 Accounting policies (continued)

g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs

i) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £500. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

j) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

k) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

l) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

17

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements

For the year ended 31 March 2021

Donations and legacies
Charitable activities:
Core Community Centre
Childrens Service Project
Community Activities Programme (CAP)
Investments
Charitable activities:
Core Community Centre
Childrens Service Project
Community Activities Programme (CAP)
Donations
Net income / expenditure
Total expenditure
Income from:
Total income
Net movement in funds
Bank interest
Income from investments
Transfers between funds
Expenditure on:
Total funds brought forward
Total funds carried forward
Income from donations and legacies		 Unrestricted
Funds
£
2,046
2,046
Unrestricted
Funds
£
113
113		 £
3,348
89,066
-
4,891
211
Unrestricted
funds		 2020
Total
Funds
£
£
-
3,348
27,058
116,124
63,656
63,656
153,387
158,278
-
211
244,101
341,617
16,731
106,931
61,491
61,491
145,650
145,650
Restricted
Funds		 2020
Total
Funds
£
£
-
3,348
27,058
116,124
63,656
63,656
153,387
158,278
-
211
244,101
341,617
16,731
106,931
61,491
61,491
145,650
145,650
Restricted
Funds
97,516 244,101 341,617
90,200
-
-		 16,731
61,491
145,650		 106,931
61,491
145,650
90,200 223,872 314,072
7,316
-		 20,229
-		 27,545
-
7,316
206,956		 20,229
75,010		 27,545
281,966
214,272 95,239 309,511
£
-
Restricted
Funds		 2021
Total
Funds
£
2,046		 2020
Total
Funds
£
3,348
- 2,046 3,348
£
-
Restricted
Funds		 2021
Total
Funds
£
113		 2020
Total
Funds
£
211
- 113 211
3
4		 Donations
Bank interest
Income from investments
Income from donations and legacies

18

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements

For the year ended 31 March 2021

LBC Strategic Partnership Fund core grant
Rentals
Government and LBC covid support grants
HMRC- CJRS Grants
LBC- CIL
Others
Giving.com
Childrens Service Project
LBC Children's Services
John Lyon's Charity
Creche & drop in fees
Community Activities Programme (CAP)
Ageing Better in Camden
Ageing Better in Camden
People's Health Trust
The 29th May 1961 Charitable Trust
Payroll Giving
The Hampstead Wells and Campden Trust
Easyfundraising
Camden Giving Social Action Fund
Camden giving Inclusive Community Fund
The Hampstead Wells and Campden Trust
CAF Coronavirus Emergency Fund
Camden Giving Covid-19 Charity Fund
Crowdfunder
JustGiving
Independent Age Grants Fund
City Bridge Trust
Edward Harvist Trust Sustainable Food Fund
London Catalyst
London Community Response Fund-Wave 2
London Community Response Fund-Wave 3
Comic Relief
The National Lottery Community Fund
Neighbourly Covid-19 Community Fund
JustGiving
Tesco Bags of Help - Covid 19 Communities Trust
CMS Law
The Edward Gostling Foundation
The Percy Bilton Charity
The National Lottery Awards for All England
The Arsenal Foundation Gunners Fund
The Goldsmiths' Company Charity
Age UK Camden
Waitrose Community Matters Fund
The Big Lottery Reaching Communities Fund
Shanly Foundation
Team London
Camden Community Festivals Fund
Fees
Others
Total income from charitable activities
Income earned from charitable activities
Core Community Centre
Esmée Fairbairn Foundation		 2021
2020
Unrestricted
Funds
Total
Funds
Total
Funds
£
£
£
£
60,000
-
60,000
60,000
3,008
-
3,008
21,327
40,572
-
40,572
-
36,817
-
36,817
-
-
-
-
34,303
569
-
569
-
-
-
494
-
40,000
40,000
40,000
-
20,000
20,000
20,000
1,026
-
1,026
3,656
-
10,000
10,000
10,000
-
10,000
10,000
10,000
-
5,905
5,905
14,546
-
2,000
2,000
2,000
-
960
960
1,920
-
1,440
1,440
4,680
-
94
94
288
-
1,240
1,240
1,500
-
2,330
2,330
1,664
-
9,208
9,208
-
-
5,240
5,240
-
-
4,875
4,875
-
-
2,061
2,061
-
-
2,452
2,452
-
-
6,720
6,720
-
-
9,431
9,431
-
-
3,236
3,236
-
-
2,083
2,083
-
-
10,297
10,297
-
-
7,369
7,369
-
-
14,332
14,332
-
-
25,000
25,000
-
-
400
400
-
-
594
594
-
-
500
500
-
6,000
-
6,000
-
-
-
-
4,800
-
-
-
417
-
-
-
10,000
-
-
-
1,200
-
-
-
7,000
-
-
-
10,000
-
-
-
306
-
-
-
(9,958)
-
-
-
76,937
-
-
-
2,000
-
-
-
3,051
-
-
-
300
-
-
-
4,891
50
-
50
737
Restricted
Funds
148,042
197,767
345,809
338,058

19

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2021

6 Analysis of expenditure- current year

Analysis of expenditure- current year
Staff costs
Direct cost
Project expenses
Support cost
Rates & water
Light & heat
Cleaning
Legal & professional
Telephone
Training & development
Office expenses
Covid-19 costs
Equipment & repair
Governance cost
Bank charges
Audit fees
Support costs
Total expenditure 2021
Total expenditure 2020		 Charitable activities Support
costs
£
-
-
-
1,041
3,000
6,724
1,666
240
2,285
7,296
2,431
222
4,420		 2021
Total
£
228,500
17,061
-
1,041
3,000
6,724
1,666
240
2,285
7,296
2,431
222
4,420		 2020
Total
£
242,428
29,476
3,066
2,500
4,989
4,996
1,469
1,568
2,346
-
16,731
253
4,250
Core
Community
Centre
£
99,845
-
-
-
-
-
-
-
-
-
-
-		 Childrens
Service
Project
£
44,359
474
-
-
-
-
-
-
-
-
-
-		 Community
Activities
Programme
(CAP)
£
84,296
16,587
-
-
-
-
-
-
-
-
-
-
99,845
(1,618)		 44,833
15,346		 100,883
15,597		 29,325
(29,325)		 274,886 314,072
98,227 60,179 116,480 - 274,886
106,931 61,491 145,650 - 314,072

Of the total expenditure £98,227 was unrestricted (2020: £90,200) and £176,659 was restricted (2020: £223,872).

Analysis of expenditure- current year

Staff costs
Direct cost
Project expenses
Support cost
Rates & water
Light & heat
Cleaning
Legal & professional
Telephone
Training & development
Office expenses
Equipment & repair
Governance cost
Bank charges
Audit fees
Support costs
Governance costs
Total expenditure 2020
Total expenditure 2019		 Charitable activities Charitable activities Charitable activities Support
costs
£
-
-
3,066
2,500
4,989
4,996
1,469
1,568
2,346
16,731
253
4,250		 2020
Total
£
242,428
29,476
3,066
2,500
4,989
4,996
1,469
1,568
2,346
16,731
253
4,250		 2019
Total
£
243,540
14,368
2,756
1,845
5,846
5,862
1,706
927
4,016
850
176
4,060
Core
Community
Centre
£
94,432
-
-
-
-
-
-
-
-
-
-		 Childrens
Service
Project
45,859
286
-
-
-
-
-
-
-
-
-		 Community
Activities
Programme
(CAP)
102,137
29,190
-
-
-
-
-
-
-
-
-
94,432
12,499		 46,145
15,346		 131,327
14,323		 42,168
(42,168)		 314,072 285,952
106,931 61,491 145,650 - 314,072
69,102 62,473 154,377 - 285,952

Of the total expenditure £90,200 was unrestricted (2019: £69,102) and £223,872 was restricted (2019: £ 216,850).

20

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2021

7 Net incoming resources for the year

This is stated after charging / crediting:

Auditors' remuneration
Audit fees		 2021
£
4,320		 2020
£
4,200

8 Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel

Staff costs were as follows:

Social security costs
Salaries and wages
Employer pension contributions
Other staff costs		 2021
£
212,286
11,956
3,519
739
228,500		 2020
£
230,425
8,546
3,457
-
242,428

The total employee benefits including pension contributions of the key management personnel were £50,045 (2020: £52,073).

No employees earned more than £60,000 per annum.

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).

No trustees received any payment or reimbursement of travel and subsistence costs.

9 Staff numbers

The average number of employees during the year was as follows:

Support
Charitable activity		 2021
No.
12
2
14		 2020
No.
9
2
11

10 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

11 Tangible fixed assets

Cost
At the start of the year
Additions in year
Disposals in year
At the end of the year
Depreciation
At the start of the year
Charge for the year
Eliminated on disposal
At the end of the year
Net book value
At the end of the year
At the start of the year		 £
10,502
-
-
10,502
10,502
-
-
10,502
-
-
Equipment		 Total
£
10,502
-
-
10,502
10,502
-
-
10,502
-
-

21

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2021

12 Debtors

13
Pension
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year
Creditors: amounts falling due within one year
Deferred income
Other creditors
Taxation & social security
Other debtors
Accruals		 2021
£
-
-
2021
£
5,883
-
4,320
-
28,578
38,781
2021
£
27,156
(27,156)
28,578
28,578		 2020
£
10,000
10,000
2020
£
8,094
933
4,100
700
27,156
40,983
2020
£
30,271
(30,271)
27,156
27,156

Deferred income represents grants received for the purpose of expenditure in a future period.

14 Analysis of net assets between funds- current year

Tangible fixed assets
Net current assets
Net assets at the end of the year		 General
unrestricted
Funds
£
-
104,429
73,891		 Designated
Funds
£
-
161,817
161,817		 Restricted
Funds
£
-
116,347
116,347		 Total
funds
2021
£
-
382,593
382,593

Analysis of net assets between funds- prior year

Tangible fixed assets
Net current assets
Net assets at the end of the year		 General
unrestricted
Funds
£
-
89,272
89,272		 Designated
Funds
£
-
125,000
125,000		 Restricted
Funds
£
-
95,239
95,239		 Total funds
2020
£
-
309,511
309,511

22

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2021

15 Movements in funds-current year

Restricted funds:
Core Community Centre
Children's Services
Community Activities Programme (CAP)
Total restricted funds
Unrestricted funds:
Designated funds:
Employee contract costs including pension
Building rent and maintenance fund
Total designated funds
General funds
Total unrestricted funds
Total funds including pension fund		 £
10,327
22,958
61,954
95,239
70,000
55,000
125,000
89,272
89,272
214,272
309,511
At the start
of the year		 £
-
60,000
137,767
197,767
36,817
-
36,817
113,384
113,384
Incoming
resources &
gains		 £
-
60,179
116,480
176,659
-
-
-
98,227
98,227
98,227
274,886
Outgoing
resources &
losses		 Transfers
£
-
-
-
-
-
-
-
-		 £
10,327
22,779
83,241
At the end
of the
year
116,347
106,817
55,000
161,817
104,429
104,429
150,201 - 266,246
-
347,968 382,593

Movements in funds-prior year

Restricted funds:
Core Community Centre
Children's Services
Community Activities Programme (CAP)
Total restricted funds
Unrestricted funds:
Designated funds:
Employee contract costs including pension
Building rent and maintenance fund
Total designated funds
General funds
Total unrestricted funds
Total funds including pension fund		 £
-
20,793
54,217
75,010
70,000
55,000
125,000
81,956
81,956
206,956
281,966
At the start
of the year		 £
27,058
63,656
153,387
244,101
-
-
-
97,516
97,516
Incoming
resources &
gains		 £
16,731
61,491
145,650
223,872
-
-
-
90,200
90,200
90,200
314,072
Outgoing
resources &
losses		 Transfers
£
-
-
-
-
-
-
-
-		 £
10,327
22,958
61,954
At the end
of the year
95,239
70,000
55,000
125,000
89,272
89,272
97,516 - 214,272
-
341,617 309,511

16 Operating lease commitments

At the balance sheet date, the charity had no financial commmitment under non-cancellable operating leases.

17 Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

18 Related party transactions

There are no related party transactions (2020: none).

23