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2022-03-31-accounts

ABBEY COMMUNITY CENTRE

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2022

Company Number 2028600 Charity Number 295191

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

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 2022

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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Principal activities undertaken to achieve our aims for the public benefit

The centre’s principal activities, provided both in the centre, by zoom and telephone, include a crèche; baby & toddler stay & play drop-ins; parenting advice and information; Kilburn Good Neighbours befriending scheme for isolated and vulnerable over 60’s; Community Activities projects and activities (CAP) for over 50’s; CHAPS project of activities for isolated older men; Tech Buddies, a volunteer project tackling the digital divide by increasing and improving access to digital and remote activities, services and information; Volunteer gardening and recycling project, Abbey’s monthly Saturday community lunch; IT classes; exercise, health & wellbeing classes for all ages; including healthy cooking, seated exercise, yoga, tai chi, Zumba and dance and several social and recreational activities including creative writing, book club, sewing, community choir, coffee morning, afternoon tea, boccia, cooking, arts and crafts, and bingo. The Henna Asian Women’s group is based at the centre, and they provide services specific to their users in addition to the centre’s own programme.

ACHIEVEMENTS AND PERFORMANCE

2021-2022 was another challenging year. We continued to manage the impact of the ongoing Covid epidemic on people’s lives and our community centre resources and programme delivery alongside managing and negotiating the lease and operational move to our new centre building planned for August 2022.

We were very successful in delivering our blended programme of 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 successful in securing a council covid support grant and charitable trust 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.

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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Fundraising and Sustainability

Partnerships and collaboration

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Performance Monitoring

The centre uses 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 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 engages in consultation with Camden officers, councillors, VAC, VCC 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 engages in key partnership work and funding programmes with LB Camden, Central and Northwest London NHS Foundation Trust, C4 and Age UK Camden. The centre also works in partnership with other local organisations to provide services which include SHAK, the Felix Project, Mary Ward Centre, Restart, Master Gardeners, The Challenge, Westminster Kingsway College, Street Bank, Good Gym, North London Cares, Age UK Camden for Good Neighbour Schemes, and Henna Asian Women’s Association to name but a few.

FINANCIAL REVIEW April 2021-March 2022

The centre managed well financially considering the impact of Covid and the current economic climate on rental and fees income.

Total Income only decreased by 5% to £329,186, despite the 83% reduction in covid support grants whilst expenditure increased by 18% to £325,019, reflecting the increase in service provision and associated staff costs.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

Rental income of £4,599 is a 50% increase on 2020-21, but still only 22% of pre covid rental income of £21,327 in 2019-20. Fees at £2,013 is a 50% increase on 2020-21 but still less than 25% of fees income of £8,547 in 2019-20. Whilst Covid support grants reduced by 83% from £77,389 in 20-21 to £12,938, we were very successful securing charitable trust project funding and grant and tender contracts from Camden council to enable continued and expanded delivery of our blended programme of activities and services to meet identified need and outcomes.

The core 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 Drop-Ins. A Camden covid support grant of £12,000 was also secured.

Charitable trust project funding totalled £243,584 for the year. Grants over £10,000 per year include The National Lottery Community Fund, £50,000; City Bridge Trust, £50,000; Comic Relief, £28,663; Ageing Better in Camden, £15,000 and Independent Age, £12,280 for our Community Activities Programme and John Lyon’s Charity, £20,000, for our crèche and families outreach programme.

Annual expenditure increased by 18% to £325,019 due to increased staff, project delivery, cleaning, rates, and refuge costs. Net income over expenditure for the year was £4,167 restricted to the Community Activities Project (CAP) fund.

The main expenditure was employee costs totalling £269,243. Direct project costs, excluding employee salary costs, were £27,023. Support costs include Covid equipment costs, £8,119, audit fee, £4,680; cleaning £3,647; legal and professional fees, £3,624; office expenses, £1,865, equipment and repair £1,643, telephone and wi-fi, £1,609; and light & heat, £1,381.

The total cumulative balance stands at £386,760. £131,631 is restricted funds, £162,755 is designated funds and £92,374 is unrestricted general funds. £18,808 is restricted for children’s services for underthrees; £108,615 is restricted for the community activities programme, (CAP); and £4,208 for core costs. £162,755 is designated, £107,755 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 core and building running costs, repairs, rent, rates, and development of resources. Our total reserves which include restricted, designated, and unrestricted funds equate to approximately 12 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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

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 £92,374 represent approximately 3 months projected 2022-23 running costs. Our general unrestricted, (£92,374) and designated (£162,755) funds of £255,129 represent approximately 8 months projected 2022-23 running costs Our total funds of £386,760, which include restricted, designated, and unrestricted funds equate to approximately 12 months projected 2022-23 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 and service charges for their community buildings has increased the risk and need for adequate reserves. The designated funds of £162,755 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 £107,755 includes the costs for this.

  4. 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, £49,378.

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

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

  7. 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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

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 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.

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 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:

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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2022

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.

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 Caroline Moyes Matheou Chair

Date: 06/07/2022

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2022

Opinion

We have audited the financial statements of Abbey Community Centre (the ‘Charity’) for the year ended 31st March 2022 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 2022 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.

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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2022

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 trustees’ 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 trustees’ 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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2022

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.

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 2022

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.

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

Date: 14/07/2022

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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 2022

Unrestricted
Funds
Note
£
Income from:
3
3,696
5
79,882
2,013
54
4
24
85,669
6
96,786
-
-
96,786
7
(11,117)
-
(11,117)
Reconciliation of funds:
266,246
255,129
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)
Donations and legacies
Charitable activities
Investments
Core Community Centre
Childrens' Services
Community Activities Programme (CAP)		 Restricted
Funds
£
-
2,000
60,000
181,517
-
243,517
8,119
63,971
156,143
228,233
15,284
-
15,284
116,347
131,631		 2022
Total
Funds
£
3,696
81,882
62,013
181,571
24
329,186
104,905
63,971
156,143
325,019
4,167
-
4,167
382,593
386,760		 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

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.

14

Abbey Community Centre (Company Limited By Guarantee)

Balance sheet

As at 31 March 2022

Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
15
Total unrestricted funds
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Tangible assets
Unrestricted funds:
Designated funds
General funds
Net current assets
Total assets less current liabilities
Total net assets
Funds
Restricted funds
Total funds		 2022
£
1,070
450,563		 2022
£
-
386,760		 2021
£
-
421,374		 2021
£
-
382,593
451,633
64,873		 421,374
38,781
162,755
92,374		 161,817
104,429
386,760 382,593
386,760 382,593
131,631
255,129		 116,347
266,246
386,760 382,593

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

06/07/2022

and signed on their behalf by:

Caroline Moyes Matheou

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 2022

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.

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 2022

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.

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.

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

For the year ended 31 March 2022

2 Detailed comparatives for the statement of financial activities

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)
Transfers between funds
Expenditure on:
Total funds brought forward
Total funds carried forward
Net movement in funds
Net income / expenditure
Total expenditure
Income from:
Total income		 £
2,046
140,966
1,026
6,050
113
Unrestricted
funds		 £
-
-
60,000
137,767
-
Restricted
Funds		 2021
Total
Funds
£
2,046
140,966
61,026
143,817
113
150,201 197,767 347,968
98,227
-
-		 -
60,179
116,480		 98,227
60,179
116,480
98,227 176,659 274,886
51,974
-		 21,108
-		 73,082
-
51,974
214,272		 21,108
95,239		 73,082
309,511
266,246 116,347 382,593

3 Income from donations and legacies

Donations

Bank interest

Unrestricted
Funds
£
3,696
3,696
Unrestricted
Funds
£
24
24		 £
-
Restricted
Funds		 2022
Total
Funds
£
3,696		 2021
Total
Funds
£
2,046
- 3,696 2,046
£
-
Restricted
Funds		 2022
Total
Funds
£
24		 2021
Total
Funds
£
113
- 24 113

18

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

For the year ended 31 March 2022

5 Income from charitable activities

Income from charitable activities
LBC Strategic Partnership Fund core grant
Rentals
Government and LBC covid support grants
HMRC- CJRS Grants
L B Camden Rate Rebate
Others
IT Grant Camden Community Centres
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
DWP (Jason)
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
GVC Ladbrokes
The National Lottery Awards for All England
Sainsbury's
Camden Recycling
Others
Total income from charitable activities
Income earned from charitable activities
Core Community Centre		 2022
2021
Unrestricted
Funds
Total
Funds
Total
Funds
£
£
£
£
60,000
-
60,000
60,000
4,599
-
4,599
3,008
12,000
-
12,000
40,572
938
-
938
36,817
2,300
-
2,300
-
45
-
45
569
-
2,000
2,000
-
-
40,000
40,000
40,000
-
20,000
20,000
20,000
2,013
-
2,013
1,026
-
7,500
7,500
10,000
-
7,500
7,500
10,000
-
-
-
5,905
-
2,000
2,000
2,000
-
-
-
960
-
-
-
1,440
54
-
54
94
-
4,992
4,992
1,240
-
-
-
2,330
-
-
-
9,208
-
-
-
5,240
-
-
-
4,875
-
3,082
3,082
2,061
-
-
-
2,452
-
12,280
12,280
6,720
-
50,000
50,000
9,431
-
-
-
3,236
-
417
417
2,083
-
-
-
10,297
-
-
-
7,369
-
28,663
28,663
14,332
-
50,000
50,000
25,000
-
-
-
400
-
-
-
594
-
1,000
1,000
500
-
-
-
6,000
-
3,333
3,333
-
-
10,000
10,000
-
-
500
500
-
-
250
250
-
-
-
-
50
Restricted
Funds
81,949
243,517
325,466
345,809

19

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2022

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 2022
Total expenditure 2021		 Charitable activities Support
costs
£
-
-
653
1,381
3,647
3,624
1,609
1,183
1,865
8,119
1,643
349
4,680		 2022
Total
£
269,243
27,023
653
1,381
3,647
3,624
1,609
1,183
1,865
8,119
1,643
349
4,680		 2021
Total
£
228,500
17,061
-
1,041
3,000
6,724
1,666
240
2,285
7,296
2,431
222
4,420
Core
Community
Centre
£
106,635
-
-
-
-
-
-
-
-
-
-
-
-		 Childrens
Service
Project
£
51,604
374
-
-
-
-
-
-
-
-
-
-
-		 Community
Activities
Programme
(CAP)
£
111,004
26,649
-
-
-
-
-
-
-
-
-
-
-
106,635
(1,730)		 51,978
11,993		 137,653
18,490		 28,753
(28,753)		 325,019 274,886
104,905 63,971 156,143 - 325,019
98,227 60,179 116,480 - 274,886

Of the total expenditure £96,786 was unrestricted (2021: £98,227) and £228,233 was restricted (2021: £176,659).

Analysis of expenditure- previous 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
Depreciation
Governance cost
Bank charges
Audit fees
Support costs
Governance costs
Total expenditure 2021		 Charitable activities Charitable activities 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

20

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2022

7 Net incoming resources for the year

This is stated after charging / crediting:

Auditors' remuneration
Audit fees		 2022
£
4,650		 2021
£
4,320

Staff costs were as follows:

Salaries and wages
Employer pension contributions
Other staff costs
Social security costs		 2022
£
249,243
15,376
4,624
-
269,243		 2021
£
212,286
11,956
3,519
739
228,500

The total employee benefits including pension contributions of the key management personnel were £51,444 (2021: £50,045).

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 (2021: £nil). No charity trustee received payment for professional or other services supplied to the charity (2021: £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:

Charitable activity
Support		 2022
No.
12
2
14		 2021
No.
12
2
14

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 2022

12 Debtors

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
Accruals
Taxation & social security
Other debtors
Creditors: amounts falling due within one year
Deferred income		 2022
£
1,070
1,070
2022
£
6,350
1,137
4,650
52,736
64,873
2,022
£
28,578
(28,578)
52,736
52,736		 2021
£
-
-
2021
£
5,883
-
4,320
28,578
38,781
2021
£
27,156
(27,156)
28,578
28,578

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
£
-
92,374
73,891		 Designated
Funds
£
-
162,755
162,755		 Restricted
Funds
£
-
131,631
131,631		 Total
funds
2021
£
-
386,760
386,760

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
£
-
104,429
104,429		 Designated
Funds
£
-
161,817
161,817		 Restricted
Funds
£
-
116,347
116,347		 Total funds
2020
£
-
382,593
382,593

22

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2022

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
Movements in funds-prior year		 £
10,327
22,779
83,241
116,347
106,817
55,000
161,817
104,429
104,429
266,246
382,593
At the
start of
the year		 £
2,000
60,000
181,517
243,517
938
-
938
84,731
84,731
Incoming
resources &
gains		 £
8,119
63,971
156,143
228,233
-
-
-
96,786
96,786
96,786
325,019
Outgoing
resources &
losses		 Transfers
£
-
-
-
-
-
-
-
-		 £
4,208
18,808
108,615
At the end
of the
year
131,631
107,755
55,000
162,755
92,374
92,374
85,669 - 255,129
-
329,186 386,760
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

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 (2021: none).

23