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2023-03-31-accounts

ABBEY COMMUNITY CENTRE

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2023

Company Number 2028600 Charity Number 295191

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

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 2023

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: -

Primary Beneficiaries

The local community is 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 most recent Indices of Multiple Deprivation (IMD) 2019 rank Camden 132[nd] in England for overall deprivation (out of 317, 1 being the most deprived). 8 Camden Lower-layer Super Output Areas, (LSOAs) fall within the 15% most deprived LSOAs in England and 22 fall within the 20% most deprived, 2 of which are in Kilburn ward. Within Camden, Kilburn is ranked 2nd for Multiple Deprivation and Income Deprivation affecting Children and 3[rd] for Income Deprivation affecting Older People.

The Kilburn ward is culturally and racially diverse and densely populated with approximately 58% of people 65+ living alone and 18% lone parent households. Life expectancy is well below England and Camden’s average and 17% of adults are obese, and 31% overweight.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

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.

Our activities make many positive differences to people’s lives. Improving engagement, socialisation, health and wellbeing, economic opportunities, reducing inequalities, promoting inclusion, reducing loneliness and social isolation, and enabling people to live independently and happily in their own homes.

Principal activities undertaken to achieve our aims for the public benefit

The centre’s principal activities are mainly provided in the centre, and also by zoom and telephone. These include a crèche; baby & toddler stay & play drop-ins; parenting outreach, 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; Food Club, providing food parcels to those most affected by food poverty and reducing food waste services; Abbey’s monthly Saturday community lunch; volunteer gardening and recycling project; IT classes; exercise, health & wellbeing classes for all ages; including healthy cooking, hearts and minds, seated exercise, yoga, tai chi, Zumba and dance and several social and recreational activities including creative writing, book club, sewing, coffee morning, 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

2022-2023 was a very challenging year. However, we successfully managed the ongoing impact of the Covid epidemic on people’s lives and our community centre resources and programme delivery alongside the cost-of-living crisis, a 14% inflation high and managing and negotiating the lease and operational move to our new centre building planned for August 2022 but delayed until January 2023 due to issues with the new building.

We successfully transferred our extensive programme of activities from the old building to the new within two weeks and are now delivering at pre covid levels once again. We were also successful in securing a council recovery fund grant and one-off cost of living charitable trust project funding to enable us to maintain our programme of activities to meet identified need and outcomes and adapt to our new centre building and operational procedures.

The centre staff and board were actively involved in several key partnerships, funding bids and LBC consultations including LB Camden’s Strategic Partners, LB cost of living crisis and warm welcome initiative, Camden Community Centres Consortium (C4), VAC, VCC and LB Camden Abbey Road Regeneration Project, and Wates corporate partnership.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

Key achievements during the year include:

Project, Activities and Outreach

Fundraising and Sustainability

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

Partnerships and collaboration

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, C4 AND Central and Northwest London NHS Foundation. 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, Street Bank, Good Gym, North

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

London Cares, Age UK Camden, South Sudan Women and Training Development and Henna Asian Women’s Association to name but a few.

FINANCIAL REVIEW - April 2022-March 2023

The centre managed well financially, considering the ongoing economic impact of Covid, cost-of-living crisis and high inflation on reduced rental and fees income and the increase in core and staff costs due to the moving and operating costs of the new building and inflation.

Total Income increased by approximately 20% from £329,186 to £398,134 whilst expenditure also increased by 20% from £325,019 to £390,951 reflecting the increased income raised and costs generated by the move to the new building and high inflation. Net income over expenditure for the year was £7,183. It is anticipated that income will fall by approximately 10% in 2023-24 to reflect the one-off income generated for the move to the new building in 2022-23, which was approximately £35,000. Rental income of £8,164 is a 78% increase on 2021-22, but still only 38% of pre covid rental income of £21,327 in 2019-20. Fees income of £9,232 is a 359% increase on 2021-22 and an 8% increase on pre Covid fees income in 2019-20.

We successfully secured charitable trust project funding, and core and resilience grants and tender contracts from Camden council to enable continued and expanded delivery of our programme of activities and services to meet identified need and outcomes.

The core grant from LB Camden remained at £60,000 but will increase to £84,000 from April 2023 to reflect our increased core costs. Our Camden Children’s Centre Services £40,000 annual contract for early years Drop-Ins also remained static with no increase to absorb the increased staff and core costs arising from exceptionally high inflation. A Camden resilience grant of £15,000 was also secured.

Charitable trust project funding totalled £201,947 for the year. Grants over £10,000 per year include The National Lottery Community Fund, £50,000; City Bridge Trust, £54,905; The Charity of Sir Richard Whittington, £21,100 for our Community Activities Programme and John Lyon’s Charity, £22,000, for our crèche and families outreach programme.

Annual expenditure increased by 20 % to £390,951. 10% of this increase is one off centre moving costs for 2022-23, the other 10% is due to increased staff, centre and project running costs arising from exceptionally high inflation rates.

The main expenditure was employee costs totalling £303,463, a 13% increase on 2021-22 due to high inflation and increased staff hours. Direct centre moving costs, excluding salary costs were £34,132. Direct project costs, excluding employee salary costs, were £23,661. Support costs include legal and professional fees, £7,037; light & heat, £6,862, an increase of 397% on 2021-2; cleaning, £5,400, an increase of 48% on 2021-22; audit fee, £5,046, telephone and wi-fi, £1780; office expenses, £914.

The total cumulative balance including pension fund stands at £393,943, an increase of 2%. £119,716 is restricted funds, £162,755 is designated funds and £111,472 is unrestricted general funds. £10,849 is restricted for children’s services for under-threes and £108,867 is restricted for the community activities programme, (CAP). £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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

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 £111,472 represent approximately 3 months projected 2023-24 running costs. Our general unrestricted, (£111,472) and designated (£162,755) funds of £274,227 represent 7 months projected 2023-24 running costs Our total funds of £386,760, which include restricted, designated, and unrestricted funds equate to 10.5 months projected 2023-24 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 £55,000 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.

  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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

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 policies, 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:

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

TRUSTEES ANNUAL REPORT

YEAR ENDED 31 MARCH 2023

•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.

AUDITOR

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

Signed on behalf of the board of trustees

Ms Caroline Moyes Matheou

Chair

17 July 2023

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of Abbey Community Centre (the ‘Charity’) for the year ended 31st March 2023 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 2023 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 2023

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 2023

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 2023

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

17 July 2023

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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 2023

Unrestricted
Funds
Note
£
Income from:
3
-
5
133,695
2,208
11
4
1,117
137,031
6
117,933
-
-
117,933
7
19,098
-
19,098
Reconciliation of funds:
255,129
274,227
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
£
9,232
20,825
62,000
168,840
206
261,103
25,033
69,959
178,026
273,018
(11,915)
-
(11,915)
131,631
119,716		 2023
Total
Funds
£
9,232
154,520
64,208
168,851
1,323
398,134
142,966
69,959
178,026
390,951
7,183
-
7,183
386,760
393,943		 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

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 2023

Note
Fixed assets:
11
Current assets:
12
Liabilities:
13
14
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		 2023
£
3,600
457,358		 2023
£
-
393,943		 2022
£
1,070
450,563		 2022
£
-
386,760
460,958
67,015		 451,633
64,873
162,755
111,472		 162,755
92,374
393,943 386,760
393,943 386,760
119,716
274,227		 131,631
255,129
393,943 386,760

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

17 July 2023.

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 2023

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.

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 2023

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.

17

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

For the year ended 31 March 2023

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)
Net income / expenditure
Total expenditure
Income from:
Total income
Net movement in funds
Transfers between funds
Expenditure on:
Total funds brought forward
Total funds carried forward		 £
3,696
79,882
2,013
54
24
Unrestricted
funds		 £
-
2,000
60,000
181,517
-
Restricted
Funds		 2022
Total
Funds
£
3,696
81,882
62,013
181,571
24
85,669 243,517 329,186
96,786
-
-		 8,119
63,971
156,143		 104,905
63,971
156,143
96,786 228,233 325,019
(11,117)
-		 15,284
-		 4,167
-
(11,117)
266,246		 15,284
116,347		 4,167
382,593
255,129 131,631 386,760

3 Income from donations and legacies

Donations

Bank interest

Unrestricted
Funds
£
-
-
Unrestricted
Funds
£
1,117
1,117		 £
9,232
Restricted
Funds		 2023
Total
Funds
£
9,232		 2022
Total
Funds
£
3,696
9,232 9,232 3,696
£
206
Restricted
Funds		 2023
Total
Funds
£
1,323		 2022
Total
Funds
£
24
206 1,323 24

18

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

For the year ended 31 March 2023

5 Income from charitable activities

LBC Strategic Partnership Fund core grant
LBC - Resilience Fund 22-23
LBC KP CoL Crisis Grant
LBC SH CoL Crisis Grant
LBC Public Toilet grant
CIL New Centre Moving Costs
LBC SPF New Centre Moving Costs
Rentals
Government and LBC covid support grants
RBKC
HMRC- CJRS Grants
L B Camden Rate Rebate
Others
L B Camden
HUBBUB Foundation
Hampstead Wells & Campden CoL Crisis Grant
JustGiving
LBC CP Legal fees
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
The 29th May 1961 Charitable Trust
The Hampstead Wells and Campden Trust
Easyfundraising
Camden Giving Social Action Fund
Hubbub fridge grant
DWP (Jason)
Independent Age Grants Fund
City Bridge Trust
London Catalyst
Arnold Clark Community Fund
Crowdfunder
Comic Relief
The National Lottery Community Fund
Global's Make Some Noise
Tesco Bags of Help - Covid 19 Communities Trust
The Charity of Sir Richard Whittington
GVC Ladbrokes
The National Lottery Awards for All England
Sainsbury's
Walking & Cycling Grant London
Others
Total income from charitable activities
Income earned from charitable activities
Core Community Centre		 2023
2022
Unrestricted
Funds
Total
Funds
Total
Funds
£
£
£
£
60,000
-
60,000
60,000
15,000
-
15,000
-
2,113
-
2,113
-
2,372
-
2,372
-
750
-
750
-
25,000
-
25,000
-
10,000
-
10,000
-
8,164
-
8,164
4,599
-
-
-
12,000
1,991
-
1,991
-
-
-
-
938
-
-
-
2,300
1,018
-
1,018
45
5,874
-
5,874
2,000
-
3,000
3,000
-
-
8,825
8,825
-
1,413
-
1,413
-
-
9,000
9,000
-
-
40,000
40,000
40,000
-
22,000
22,000
20,000
2,208
-
2,208
2,013
-
-
-
-
7,500
-
-
-
7,500
-
-
-
2,000
-
1,800
1,800
-
-
83
83
54
-
7,536
7,536
4,992
-
5,000
5,000
-
-
-
-
3,082
-
-
-
12,280
-
54,905
54,905
50,000
-
-
-
417
-
1,000
1,000
-
-
635
635
-
-
-
-
28,663
-
50,000
50,000
50,000
-
13,214
13,214
-
-
-
-
1,000
-
21,100
21,100
-
-
6,667
6,667
3,333
-
6,900
6,900
10,000
-
-
-
500
-
-
-
250
11
-
11
-
Restricted
Funds
135,914
251,665
387,579
325,466

19

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2023

6 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
CIL New Centre costs
Governance cost
Bank charges
Audit fees
Support costs
Total expenditure 2023
Total expenditure 2022		 Charitable activities Charitable activities Charitable activities Support
costs
£
-
-
1,309
6,862
5,400
7,037
1,780
895
914
-
310
34,132
142
5,046		 2023
Total
£
303,463
23,661
1,309
6,862
5,400
7,037
1,780
895
914
-
310
34,132
142
5,046		 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
Core
Community
Centre
£
112,414
-
-
-
-
-
-
-
-
-
-
-
-
-		 Childrens
Service
Project
£
57,272
687
-
-
-
-
-
-
-
-
-
-
-
-		 Community
Activities
Programme
(CAP)
£
133,777
22,974
-
-
-
-
-
-
-
-
-
-
-
-
112,414
30,552		 57,959
12,000		 156,751
21,275		 63,827
(63,827)		 390,951 325,019
142,966 69,959 178,026 - 390,951
98,227 60,179 116,480 - 274,886

Of the total expenditure £142,966 was unrestricted (2022: £96,786) and £247,985 was restricted (2022: £228,233).

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
£
-
-
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

20

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2023

7 Net incoming resources for the year

This is stated after charging / crediting:

Auditors' remuneration
Audit fees net of VAT		 2023
£
4,200		 2022
£
3,880

Staff costs were as follows:

Social security costs
Salaries and wages
Employer pension contributions		 2023
£
278,902
19,311
5,250
303,463		 2022
£
249,243
15,376
4,624
269,243

The total employee benefits including pension contributions of the key management personnel were £54,638 (2022: £51,444).

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 (2022: £nil). No charity trustee received payment for professional or other services supplied to the charity (2022: £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		 2023
No.
11
2
13		 2022
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 2023

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		 2023
£
3,600
3,600
2023
£
6,203
1,225
5,040
7,318
47,229
67,015
2023
£
52,736
(52,736)
47,229
47,229		 2022
£
1,070
1,070
2022
£
6,350
1,137
4,650
-
52,736
64,873
2022
£
28,578
(28,578)
52,736
52,736

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
£
-
111,472
111,472		 Designated
Funds
£
-
162,755
162,755		 Restricted
Funds
£
-
119,716
119,716		 Total
funds
2023
£
-
393,943
393,943

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
£
-
92,374
92,374		 Designated
Funds
£
-
162,755
162,755		 Restricted
Funds
£
-
131,631
131,631		 Total funds
2022
£
-
386,760
386,760

22

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2023

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		 £
4,208
18,808
108,615
131,631
107,755
55,000
162,755
92,374
92,374
255,129
386,760
At the
start of
the year		 £
20,825
62,000
178,278
261,103
-
-
-
137,031
137,031
Incoming
resources &
gains		 £
25,033
69,959
178,026
273,018
-
-
-
117,933
117,933
117,933
390,951
Outgoing
resources &
losses		 Transfers
£
-
-
-
-
-
-
-
-
-		 £
-
10,849
108,867
At the end
of the
year
119,716
107,755
55,000
162,755
111,472
111,472
137,031 - 274,227
-
398,134 393,943
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
22,779
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

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 transaction for the year (2022: None).

23