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2025-03-31-accounts

ABBEY COMMUNITY CENTRE

COMPANY LIMITED BY GUARANTEE

FINANCIAL STATEMENTS

31 MARCH 2025

Company Number 2028600 Charity Number 295191

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

Contents
Page
Reference and administrative information 3
Trustees’ annual report 4 - 12
Independent auditor’s report 13 -15
Statement of financial activities 16
(Incorporating an income and expenditure account)
Balance sheet 17
Notes to the financial statements 18 - 25

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

Charity Number
 295191
Company Number 2028600
Registered Office Abbey Community Centre, 172 Belsize Road, London, NW6 4BJ
Trustees Caroline Fiona Moyes Matheou – Chair
Diana Young
Claire Frances Kavanagh
Prabhat Sisodia
Elizabeth Ajith
Victoria Osborne
John Foley
Anna Corbett
Principal Staff Lindsay Richardson
Auditors Goldwins Limited
Chartered Accountants and registered auditors
75 Maygrove Road
West Hampstead
London NW6 2EG

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

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. A Centre Coordinator

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. Robust fire and health and safety risk assessments are also in place. These strategies enable trustees to ensure the centre is able to discharge its responsibilities and commitments.

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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

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.

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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

Principal activities undertaken to achieve our aims for the public benefit

The centre’s principal activities are mainly provided in the centre, and also in people’s homes, external locations, by zoom and telephone. These include a best start crèche; baby & toddler stay & play dropins; 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, 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 & ESOL 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

2024-2025 was another challenging year both financially and operationally. We carefully managed our community centre resources and increased programme delivery despite reduced income and staff, continued high inflation, the cost-of-living crisis and resource intensive management of the new building.

We were successful in securing the second year of our 7-year core grant of £85,000, a 1-year resilience grant of £20,000 and £16,961 towards our energy costs of £24,029 from LB Camden to contribute to and support the core costs required to enable delivery of our programme of activities to meet identified need and outcomes, and the substantial increase of our core costs due to the new building.

The centre staff and board were actively involved in several key partnerships, funding bids and LB Camden consultations including LBC Strategic Partners, LBC Job Hub, LBC Camden Plan, LBC Strength & Equality Forum and Warm Welcome initiative, Camden Community Centres Consortium (C4), VAC and VCC.

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 2025

Fundraising and Sustainability

Successfully secured:

Partnerships and collaboration

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

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 , the NHS and other national and local health providers. We also work in partnership with local organisations to provide services which include SHAK, Sidings CC, the Felix Project, Restart, Good Gym, The British Museum, London Zoo, HUBBUB, DEFRA Age UK Camden, South Sudan Women and Training Development and Henna Asian Women’s Association to name but a few.

FINANCIAL REVIEW - April 2024-March 2025

The centre had a challenging financial year in light of the ongoing financial and operational challenges of the new building, increased Employee costs, continuing high inflation, and competitive funding climate.

Total Income decreased by 8.5% from £463,518, to £424,280 reflecting the challenging and competitive funding climate. Expenditure increased by 6.3% from £422,313 to £449,139 reflecting

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

increased salary and operating costs generated by high inflation. Net income over expenditure for the year was (£24,859)

We successfully secured core and resilience grants and an SLA contract from Camden council and charitable trust project funding, 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 £85,000 despite the significantly higher costs of the new building. The one-year LB Camden Energy subsidy of £16,961 and Camden Resilience grant included a contribution towards the core building costs and the rental income generation posts.

Our Camden Children’s Centre Services contract for early years Stay and Play Drop-Ins was £50,707 to reflect our increased building costs.

Charitable trust project funding totalled £164,650 for the year, a reduction of 18.7% from 2023-24 reflecting the difficult funding climate. Grants of £10,000 and over per year include, City Bridge Foundation, £50,000; The Charity of Sir Richard Whittington, £22,500; HUBBUB Foundation, £12,729; London Marathon Foundation, £11,957 and Drapers Charitable Fund, £10,000 for our Community Activities Programme and John Lyon’s Charity, £15,000, for our crèche and families outreach programme.

Self-generated income includes rental income of £56,643, a 79% increase on 2023-24 and 594% on 2022-23 reflecting the second full year of the new building being fully operational and the impact of the rental income generation post part funded for the year by the LBC Resilience Fund, and donations/fees income of £17,669, similar to 2023-24.

Annual Expenditure increased by 6.3% to £449,139 reflecting increased building, salary and operational costs generated by high inflation.

The main expenditure was employee and support costs totalling £316,220, 4.3% higher than 2023-24.

Centre building operational costs (excluding salary and support costs) were £95,660, an increase of 4.7% from 2023-24 and 99% from 2022-23. This includes Rent, £19,000; Rates, £3,220; Insurance, £10,627 (including buildings insurance of £7,500-creditor) Energy/Electricity, £24,029; Cleaning £8,373, Service Charge, £5,000 and Water Rates estimated at £5,000, (creditors); legal & professional, £5,767; audit fee, £5,820; Telephone/Wi-Fi/IT, £3,060; Office Expenses, £3,154 training & development, £2,530; Direct project costs, excluding employee salary and support costs, were £37,259 an increase of 34% from 2023-24 reflecting the increase in CAP activities and high inflation.

The Total Cumulative Balance including pension fund is £410,289 a decrease of 5.7% from 2023-24.

£103,783 is Restricted Funds, £103,751 is Unrestricted General Funds, £202,755 is Designated Funds, £147,755 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, unrestricted, and designated funds equate to approximately 11 months running costs at projected staff and service provision for the next year.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

Reserves Policy

Reserves are an essential element of strategic, operational, and budgetary planning

Unrestricted Funds are needed to:

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

  2. Quickly implement any changes in the above requirements.

  3. To cover employee costs: salaries and increments, employer NI, pension, maternity, sick, and redundancy pay

  4. To meet increased costs, not funded by pre exiting funding, due to continued high inflation and cost of living crisis.

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

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

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

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 to ensure we are operating with sufficient reserves to avoid financial difficulties

The centre’s general unrestricted reserves of £103,751 represent approximately 3 months projected 2025-26 running costs. Our general unrestricted, (£103,751) and designated (£202,755) funds total of £306,506 represent 8 months projected 2025-26 running costs. Our total funds of £410,289, including restricted, unrestricted, and designated funds equate to 11 months projected 2025-26 running costs.

  1. 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 designated employee contract fund of £147,755 includes costs for this.

  2. LB Camden 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 £147,755 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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

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

PLANS FOR FUTURE PERIODS

In addition to the current programme of services, partnership work and planning for the new centre we will continue to review and develop our 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.

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE TRUSTEES’ ANNUAL REPORT YEAR ENDED 31 MARCH 2025

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.

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

21 July 2025

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2025

Opinion

We have audited the financial statements of Abbey Community Centre (the ‘Charity’) for the year ended 31st March 2025 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 2025 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.

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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2025

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.

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

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ABBEY COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS YEAR ENDED 31 MARCH 2025

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:

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

22 July 2025

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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 2025

Unrestricted
Funds
Note
£
Income from:
3
775
5
141,643
-
-
4
7,620
150,038
6
134,671
-
-
134,671
7
15,367
(7,821)
7,546
Reconciliation of funds:
298,960
306,506
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
£
13,498
36,533
69,103
152,479
2,629
274,242
36,533
79,888
198,047
314,468
(40,226)
7,821
(32,405)
136,188
103,783		 2025
Total
Funds
£
14,273
178,176
69,103
152,479
10,249
424,280
171,204
79,888
198,047
449,139
(24,859)
-
(24,859)
435,148
410,289		 2024
Total
Funds
£
14,101
174,136
83,127
187,222
4,932
463,518
154,335
85,279
182,699
422,313
41,205
-
41,205
393,943
435,148

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 14 to the financial statements.

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Abbey Community Centre (Company Limited By Guarantee)

Balance sheet

As at 31 March 2025

Note
Fixed assets:
11
Current assets:
Liabilities:
12
13
14
Total unrestricted funds
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		 2025
£
536,547		 2025
£
-
410,289		 2024
£
519,403		 2024
£
-
435,148
536,547
126,258		 519,403
84,255
202,755
103,751		 202,755
96,205
410,289 435,148
410,289 435,148
103,783
306,506		 136,188
298,960
410,289 435,148

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

21 July 2025

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 2025

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 the donor has specified are to be solely used for particular areas of the work or for specific projects being undertaken by the charity.

18

Notes to the financial statements

For the year ended 31 March 2025

1 Accounting policies (continued) g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. Expenditure on charitable activities includes the costs of delivering services and other activities undertaken to further the purposes of the charity and their associated support costs. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6.

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: Fixtures and fittings 25% Computer equipment 25%

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.

19

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

For the year ended 31 March 2025

Donations and legacies
Charitable activities:
Core Community Centre
Childrens Service Project
Community Activities Programme (CAP)
Investments
Charitable activities:
Core Community Centre
Childrens Service Project
Community Activities Programme (CAP)
Donations
Transfers between funds
Expenditure on:
Total funds brought forward
Total funds carried forward
Income from donations and legacies
Net movement in funds
Net income / expenditure
Total expenditure
Income from:
Total income		 Unrestricted
Funds
£
775
775		 £
14,101
119,431
3,208
-
4,932
Unrestricted
funds		 £
-
54,705
79,919
187,222
-
Restricted
Funds		 2024
Total
Funds
£
14,101
174,136
83,127
187,222
4,932
141,672 321,846 463,518
99,630
-
-		 54,705
85,279
182,699		 154,335
85,279
182,699
99,630 322,683 422,313
42,042
(17,309)		 (837)
17,309		 41,205
-
24,733
274,227		 16,472
119,716		 41,205
393,943
298,960 136,188 435,148
£
13,498
Restricted
Funds		 2025
Total
Funds
£
14,273		 2024
Total
Funds
£
14,101
13,498 14,273 14,101
Bank interest Unrestricted
Funds
£
7,620
7,620		 £
2,629
Restricted
Funds		 2025
Total
Funds
£
10,249		 2024
Total
Funds
£
4,932
2,629 10,249 4,932

20

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

For the year ended 31 March 2025

5 Income from charitable activities

Income from charitable activities
LBC Strategic Partnership Fund core grant
LBC - Resilience Fund
LBC SPF 23-24 Energy costs contribution
LBC SH CoL Crisis Grant
LBC Public Toilet grant
LBC Warm Welcome
LBC SPF New Centre Moving Costs
Rentals
Others
JustGiving
Childrens Service Project
LBC Children's Services
John Lyon's Charity
CS fees
Community Activities Programme (CAP)
London Marathon Foundation
LBC Active life
UCL Hospital
Good Things Foundation
The Hampstead Wells and Campden Trust
Easyfundraising
BUPA Foundation: Green Community Grants
Co-Op Local Community Fund
Drapers Charitable Funds
HUBBUB Foundation
TFL Walking & Cycling Grant London
Sport England
Camden Community Festival
City Bridge Foundation
Tesco Community Grant
London Catalyst
Crowdfunder
North London Community Fund
The National Lottery Community Fund
Global's Make Some Noise
Gnanam Foundation
The Charity of Sir Richard Whittington
Garfield Weston Foundation
Austin & Hope Pilkington Trust
The National Lottery Awards for All England
Waitrose Community Fund
Total income from charitable activities
Income earned from charitable activities
Core Community Centre		 2025
2024
Unrestricted
Funds
Total
Funds
Total
Funds
£
£
£
£
85,000
-
85,000
86,000
-
10,000
10,000
30,000
-
16,961
16,961
21,805
-
-
-
2,150
-
750
750
750
-
8,822
8,822
-
-
-
-
-
56,643
-
56,643
32,779
-
-
-
351
-
-
-
301
-
50,707
50,707
59,919
-
15,000
15,000
20,000
-
3,396
3,396
3,208
-
-
11,957
11,957
7,043
-
5,325
5,325
4,670
-
900
900
-
-
8,875
8,875
3,125
-
-
-
1,500
-
3,850
3,850
-
-
-
-
22
-
927
927
-
-
-
-
4,426
-
10,000
10,000
-
12,729
12,729
3,748
-
1,860
1,860
1,860
-
1,035
1,035
3,105
-
450
450
700
-
50,000
50,000
53,000
-
-
-
500
-
3,000
3,000
-
-
-
-
9
-
2,512
2,512
-
-
-
-
65,000
-
5,000
5,000
13,214
-
-
-
500
-
22,500
22,500
22,500
-
5,000
5,000
-
-
500
500
-
-
5,659
5,659
2,300
-
400
400
-
Restricted
Funds
141,643
258,115
399,758
444,485

21

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2025

6
Staff costs
Direct cost
Project expenses
Support cost
Rates
Rent
Water rate
Service charge
Light & heat
Cleaning
Legal & professional
Insurance
Tel/IT/WiFi
Training & development
Office expenses
Equipment & repair
Governance cost
Bank charges
Audit fees
Support costs
Total expenditure 2025
Total expenditure 2024
Analysis of expenditure- current year		 C haritable activit ies Support
costs
£
43,209
-
-
-
-
-
-
-
4,444
-
1,530
2,530
3,154
-
60
5,820		 2025
Total
£
316,220
37,259
3,220
19,000
5,000
5,000
24,029
8,373
5,787
10,627
3,060
2,530
3,154
-
60
5,820		 2024
Total
£
303,228
27,751
3,257
18,623
5,000
5,000
29,147
7,712
7,895
-
3,984
1,595
1,376
2,285
60
5,400
Core
Community
Centre
£
85,354
-
3,220
19,000
5,000
5,000
24,029
8,373
1,343
10,627
1,530
-
-
-
-
-		 Childrens
Service
Project
£
49,080
1,548
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 ~~Community~~
Activities
Programme
(CAP)
£
138,577
35,711
-
-
-
-
-
-
-
-
-
-
-
-
-
-
163,476
7,728		 50,628
29,260		 174,288
23,759		 60,747
(60,747)		 449,139 422,313
171,204 79,888 198,047 - 449,139
142,966 69,959 178,026 - 390,951

Of the total expenditure £134,671 was unrestricted (2024: £99,630) and £314,468 was restricted (2024: £322,683).

Analysis of expenditure- previous year

Staff costs
Direct cost
Project expenses
Support cost
Rates
Rent
Water rate
Service charge
Light & heat
Cleaning
Legal & professional
Tel/IT/WiFi
Training & development
Office expenses
Equipment & repair
Unrestricted Fund 1 - outgoing resources
Governance cost
Bank charges
Audit fees
Support costs
Governance costs
Total expenditure 2024		 Charitable activiti Community
Activities
Programme
(CAP)
Support
costs
£
£
138,209
-
24,533
-
-
3,257
-
18,623
-
5,000
-
5,000
-
29,147
-
7,712
-
7,895
-
3,984
-
1,595
-
1,376
-
2,285
-
-
-
60
-
5,400
162,742
91,334
21,275
(91,334)
es		 2024
Total
£
303,228
27,751
3,257
18,623
5,000
5,000
29,147
7,712
7,895
3,984
1,595
1,376
2,285
-
60
5,400		 2023
Total
£
303,463
23,661
1,309
-
-
-
6,862
5,400
7,037
1,780
895
914
310
34,132
142
5,046
Core
Community
Centre
£
110,018
2,200
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Childrens
Service
Project
£
55,001
1,018
-
-
-
-
-
-
-
-
-
-
-
-
-
-
112,218
30,552		 56,019
12,000		 422,313 390,951
142,770 68,019 184,017
-		 422,313

22

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

For the year ended 31 March 2025

7 Net incoming resources for the year

This is stated after charging / crediting:

Auditors' remuneration
Audit fees net of VAT		 2025
£
4,725		 2024
£
4,500

Staff costs were as follows:

Salaries and wages
Employer pension contributions
Social security costs		 2025
£
290,551
19,655
6,014
316,220		 2024
£
280,050
17,888
5,290
303,228

The total employee benefits including pension contributions of the key management personnel were £57,107 (2024: £55,402).

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 (2024: £nil). No charity trustee received payment for professional or other services supplied to the charity (2024: £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		 2025
No.
11
1
12		 2024
No.
11
2
13

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
-
-

23

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

For the year ended 31 March 2025

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
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
Deferred income
Other creditors		 2025
£
5,243
1,170
5,820
27,725
86,300
126,258
2025
£
60,973
(60,973)
86,300
86,300		 2024
£
6,545
1,337
5,400
10,000
60,973
84,255
2024
£
47,229
(47,229)
60,973
60,973

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

13 Analysis of net assets between funds- current year

Tangible fixed assets
Net current assets
Net assets at the end of the year
Tangible fixed assets
Net current assets
Net assets at the end of the year
Analysis of net assets between funds- prior year		 General
unrestricted
Funds
£
-
103,751
103,751
General
unrestricted
Funds
£
-
96,205
96,205		 Designated
Funds
£
-
202,755
202,755
Designated
Funds
£
-
202,755
202,755		 Restricted
Funds
£
-
103,783
103,783
Restricted
Funds
£
-
136,188
136,188		 Total
funds
2023
£
-
410,289
410,289
Total funds
2022
£
-
435,148
435,148

24

Abbey Community Centre (Company Limited By Guarantee) Notes to the financial statements For the year ended 31 March 2025

14.
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
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		 £
-
8,697
127,491
136,188
147,755
55,000
202,755
96,205
96,205
255,129
435,148
£
-
10,849
108,867
119,716
107,755
55,000
162,755
111,472
111,472
274,227
393,943
At the
start of
the year
At the start
of the year		 £
36,533
69,103
168,606
274,242
-
-
-
150,038
150,038
Incoming
resources &
gains		 £
36,533
79,888
198,047
314,468
-
-
-
134,671
134,671
134,671
449,139
£
54,705
85,279
182,699
322,683
-
-
-
99,630
99,630
99,630
422,313
Outgoing
resources &
losses
Outgoing
resources &
losses		 Transfers
£
-
2,088
5,733
7,821
-
-
(7,821)
(7,821)		 £
-
-
103,783
At the end
of the
year
103,783
147,755
55,000
202,755
103,751
103,751
150,038 (7,821) 306,506
-
Transfers
£
-
3,208
14,101
17,309
40,000
-
40,000
(57,309)
(57,309)
424,280 410,289
£
54,705
79,919
187,222
321,846
-
-
-
141,672
141,672
Incoming
resources &
gains		 £
-
8,697
127,491
At the end
of the year
136,188
147,755
55,000
202,755
96,205
96,205
141,672 (17,309) 298,960
-
463,518 435,148

15. Operating lease commitments

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

16. 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.

17. Related party transactions

There are no related party transaction for the year (2024: None).

25