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2023-03-31-accounts

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Trustees Report and Financial Statements 2022 - 2023

Centre 70, 46 Knights Hill, West Norwood, SE27 0JD

Registered Charity No. 296020 Registered Company No. 2087528

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Centre 70 Trustees Report and Financial Statements

Contents

Introduction ........................................................................................................................................................ 2 Chair’s Report .................................................................................................................................................... 2 Purpose and Outcomes ................................................................................................................................... 3 Charitable Activities .......................................................................................................................................... 3 Structure, Governance and Management ................................................................................................... 8 Financial position ............................................................................................................................................. 12 Report of the Independent Auditors ............................................................................................................. 14 Financial Statements ……………………………………………………………………………………………….. 18 Statement of Financial Activities…..………………………………………………………………………18 Statement of Financial Position……………………………………………………………………………19 Statement of Cash Flows……………………………………………………………………………………21 Notes to Statement of Cash Flows…...…………………………………………………………………...22 Notes to Financial Statements……………………………………………………………………………..23

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Introduction

The trustees of the charity who are directors for the purposes of the Companies Act 2006 present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Chair’s Report

Centre 70 is here to help and we now handle more clients with multiple issues, more vulnerable clients and more matters of greater complexity. The cost of living crisis has been a dominant feature of this last year. Our work, started over fifty years ago by people from the local communities, is needed more than ever.

This last year has witnessed the exciting expansion of our Wellbeing services. Our befriending service and wellbeing workshops continue to develop and we have extended the range of the peer support groups to include a Maternal journal group and a Menopause support group and have plans to add a Bereavement help group. Our Inspire project supported by the Henry Smith Charity continues our holistic approach, combining the expertise of our advice and counselling teams.

Our Advice services are experiencing greater demand across all areas we specialise in. There is a growth in more complex issues. An increase in enquiries about disrepair cases, in both the private and public sector housing, has been stretching our Housing Team who have found it necessary, in some instances, to seek judicial review of the actions of some public authorities.

Our Debt Service has found that 80% of our clients have a negative budget for their basic needs, even after we have maximised their income resources. Advice on Benefits is in increasing demand and is hampered by the difficulties in challenging decisions of government departments and agencies. Our work on Student Finance, supported by Walcot Foundation, is invaluable for students connected with the Borough Lambeth to help them overcome money issues while completing their studies. Our Utilities advice is there to help people who cannot or are struggling to meet their increasing utility bills.

One special service we provide, gained from our many years of work and expertise, is to also point enquirers to the right people and organisations to help on matters which are outside our areas of expertise and funding.

Our BACP accredited Counselling Service offers low cost and free counselling, providing a means for clients to navigate their way through their mental health issues. Through this service we continue to provide support to those who would find it difficult to access long-term therapy elsewhere. The demand for this service remains very high and appears to reflect the social upheavals and added stresses of the present time.

Our services are there to help as much as our resources allow. We are very grateful for all the financial help and support we receive from our funders and donors. Obviously, with more financial resources we could achieve more from our specialist services to meet the increasing needs and demands of the local communities. We trust that money will be made available and we will be successful in Lambeth’s delayed commissioning process. Our premises need to be upgraded and we are seeking funding to pay for improved ventilation and heating, updated electrics, new windows and general redecoration.

The trustees wish to thank our director Brian Foxley, our managers Mark Batten and Dominic Cookson and all our staff. We very much appreciate their work, their commitment and their adaptability. Our history of good staff retention continues with no changes of staff over the last year. Our volunteers and supporters are also invaluable for our work, and we would like to thank them for their skill, time and support.

Last year we welcomed Alison Julal with her expertise in counselling to the Trustee Board. There are still spaces on the Board and we welcome applicants for this important role. We especially welcome applications from people who have had lived experience of the issues we support people with, as well as those who have relevant skills related to our work. Please sign up as a volunteer, or for our e-newsletter, on our website https://centre70.org.uk.

Elvis Langley, Chair

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Purpose and Outcomes

The object of the charity is to support the people who live and work in Lambeth and adjoining boroughs by helping them to cope with a wide range of social, domestic and financial problems and by offering the help (whether in the form of advice, psychotherapeutic counselling and wellbeing services) to improve the quality of their lives.

Our services are reviewed regularly to reflect local needs and to conform to the highest standards. Stakeholders, including clients, are consulted and participate in developing our work, with some services coproduced with clients.

Our vision: Communities where everyone has access to the support they need to overcome adversity in their lives so they can thrive.

Our mission: Centre 70 supports and works alongside those who are facing social, mental, financial or other personal difficulties at our centre, and out in the community, through a holistic programme of free and affordable services including: expert advice; counselling & wellbeing activities; training and advocacy.

Our values: We are passionate, inclusive, responsive and community focussed

Our impact: We increase access to rights and entitlements, improve mental health and wellbeing and enhance access to life opportunities.

The impact of Centre 70’s services is regularly reviewed in relation to our outcomes framework. Emerging trends are also identified and new services developed to meet these needs, for example the recent expansion of our wellbeing services. Accessibility of services is reviewed regularly and changes made accordingly.

Charitable Activities

Centre 70 delivers a wide range of services to meet local needs including:

Advice and Advocacy

This year we responded to 23,721 enquiries (an increase from last year’s 18,912) from 4,624 unique individuals (another increase from 3,885 last year), 1,436 of which were new clients registering to receive advice from us (an increase of 310 from last year).

52% of enquiries were for Debt, 31% for Benefits and 12% for Housing matters.

Where stated, 74% of clients are from a Black or Minority Ethnic background, and two thirds Female. Where stated, 49% had a disability or health condition, with 17% experiencing mental health issues, 14% a long standing illness and 11% a physical disability.

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90% of advice contacts were made by phone, email or letter, with 10% via in person appointments or our open door drop in. During the period there were 6 home visits made.

Our geographical reach keeps growing as we continue to deliver services remotely and work in partnership with others who refer clients. However, the majority of the people we support are in Lambeth and surrounding areas with 65% of our enquiries coming from people resident in the following post code areas: SE27, SW2, SW16, SW9, SW4 and SE19.

We continue to work with Brixton Advice Centre and local Foodbanks with one of our advisers providing outreach sessions on Wednesdays at Brixton Hill Methodist Church and on Thursdays at Emmanuel Community Centre, Clive Road.

Quotes from Advice clients:

“Thanks very much for the wise advice. I wouldn’t have known what to do without your help and I’m very grateful”

“I am glad with the help and advice given, it improved my studies a lot. I could pay for a better internet and was less worried about money or my financial circumstances. Having small children and studying at the same time is not easy financially talking is so hard but I could manage”

“Centre 70 help and made me aware that I am entitled to some benefits which I did not have a clue of. I’m very grateful”

“I have been worrying for so long about all of this, and at the same time trying to pretend it’s not happening. I am feeling so relieved, I can’t thank you enough”

Counselling and Wellbeing

Centre 70 also delivers a Counselling and Wellbeing service, providing holistic support to help clients deal with mental health challenges and build their resilience and confidence.

Counselling Service

Centre 70 provides a counselling service accredited by the British Association of Counselling and Psychotherapy (BACP). We provide up to 40 sessions with one of our 24 experienced volunteer counsellors who support around 50 clients per week. This year we carried out 118 assessments and provided counselling to 128 clients. Of those seeking counselling, 43% were from Black and Minority Ethnic backgrounds and 75% were female. Following the end of lockdown restrictions we have re-introduced a face to face service, retaining a small remote offer for those unable to attend our centre.

From October 2022 we have received 3 years of funding from National Lottery Community Fund to expand the counselling service, and to develop a new Wellbeing Service (see further information below).

Since lockdown we have seen in an increase in referrals from clients with more complex needs. Half of our clients were deemed at assessment to require support from one of our most experienced counsellors. At assessment 45% disclosed some childhood trauma or neglect, and 43% that they were on some form of mental health medication. Half disclosed a mental or physical health disability. 50% of referrals are now coming via the NHS in some way (compared to 25% a couple of years ago). The number of clients overall approaching our service has also increased, this year the average number of people on our waiting list was 80 compared to 68 last year, despite us increasing capacity by taking on 4 additional counsellors.

Our counsellors are provided with professional supervision to ensure they are well supported and working to high ethical standards. 120 supervision sessions took place in our six supervision groups over the year. We also ran training sessions for our team covering EMDR (Eye Movement Desensitization and Reprocessing) therapy, Client assessments and Dealing with Money in the Counselling Relationship.

We operate a sliding scale of £10-£50 per session which means that higher earners subsidise the service to make it accessible to those earning less. The average fee paid by our counselling clients was £17. Our Inspire Project offers free counselling to 30 clients per year who are unable to afford the minimum £10 fee.

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Quotes from Counselling clients:

“My counsellor was very supportive and helped me to see things from another point of view. I left my sessions feeling a lot more positive about my future.”

“Massively transformed how I relate to myself and allowed me to feel my feelings without it feeling too much.”

“Counselling was so beneficial. I felt heard, supported, not at all judged and really felt I was getting in touch with how I was feeling. Thankful to my counsellor and thankful for C70 offering low-cost counselling sessions.”

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Wellbeing Service

In October we started our brand new Wellbeing Service, funded by the National Lottery Community Fund. This allows us to provide a wider range of activities, support and development to our clients, and to work with people new to Centre 70. Following community consultation and with ongoing collaboration we have launched this new and popular service providing one to one and group support.

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Quotes from Wellbeing Clients:

“Being a part of the group has helped with my feeling of isolation, ... a safe space to talk about menopause, it doesn't shy away from difficult topics. I have seen so much Empathy amongst the group. I enjoy the practical advice and suggestions for wellbeing coming from both expert presenters and amongst the group during the breakout sessions and have actively made changes i.e. my diet, exercising and emotional wellbeing.”

“It's fantastic to be able to share with other women who are going through the same thing as I am, as this is a very lonely journey and can be quite scary.”

“It’s helped me to feel happier and more connected. It’s helped me to enjoy motherhood more and understand and process my experience. It’s helped me accept motherhood for what it is - a huge seismic shift that brings loads of feelings and challenges. It’s helped to see that I’m not rubbish at it or the only who finds it hard - it’s just actually hard.”

“I really enjoyed trying to express myself through art for the first time in many many years, and it was great to share that work with other people in the group and with my friends and family. The facilitators were so supportive and understanding and created a space where people felt comfortable sharing, even with people who they’d only met a couple of times. I can’t praise the programme highly enough - every new mother should get the opportunity to attend a group like this! I cannot think of another space that exists that supports mothers as people, rather purely as mothers of babies.”

“My experience of the group was overwhelmingly positive. It gave me a space to have time to think about myself and my own feelings and needs ... and sharing struggles and experiences with others in the group was really therapeutic and beneficial.”

“The group offered a great chance for connection with others and space to be seen and heard and to process thoughts and feelings.”

“A huge thank you, this opportunity has changed my life for the better and offered me the support I needed at a dark and difficult time.”

Inspire

The Inspire project continues to show the benefits of being able to receive advice on debt, welfare and housing matters, combined with counselling and volunteering opportunities and training, which includes helping others in the community. Our peer volunteer team, made up of people who are service users facing multiple disadvantages in their lives, have provided peer support, information sessions and workshops both online and in-person across Lambeth. The Inspire project has now been funded for 3 further years from the Henry Smith Foundation from April 2023.

Quotes from Inspire clients:

“The experience I had with Centre 70 was such a good experience because of the counsellor I had - so keep up the good work Centre 70.”

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“Centre 70 remains a beacon, not just of scrupulous, professional fairness and equitable distribution of resources, but a place of genuine sanctuary and care.

“I really valued my counselling sessions. I’m actually looking forward to returning.”

Quotes from Inspire volunteers:

“As Inspire volunteers the positive thing people should know is that we feel included, I have met a whole lot of people, been and done things I wouldn’t have done, started classes and done new things in the community. Coming here, I wouldn’t have known about discounts for myself, and now I can give that information to others in friends and family and it works a lot for people. Also I learned about boundaries and relationships and that’s useful in my own life. Meeting people in work environment so I can take that into a work setting in future.”

“I haven't worked for a long time and so I been scared, terrified in interviews. Coming here I meet new people, and talking, gain confidence back and you feel you can go somewhere and meet new people. I did feel intimidated in the beginning, going to a new place and talking to people in the public but now it’s fine.”

Collaboration and Partnerships

Centre 70’s work is carried out in partnership with many others and not just within our premises in Knights Hill, West Norwood. For example, we provide outreach advice in prisons and at probation services, at local food community hubs, in colleges and children’s centres, and at other local charities including Mosaic Clubhouse and The Baytree Centre in Lambeth.

Centre 70 also collaborates with Brixton Advice Centre to provide advice to users of local foodbanks as mentioned above. We continue working with Lambeth Housing providing advice to tenants and those in temporary accommodation. We also continue a partnership with We Are Digital to provide debt advice as part of a number of advice agencies to L&Q housing tenants.

Our way of working collaboratively with other local agencies and providing advice at outreach venues to reach the most vulnerable who may not engage or come to an advice centre means we reach parts of the community often not well served. This is reflected by the diversity of our client-base.

This year, we have also partnered with the Deborah Ubee Trust charity to provide a free counselling service for staff across both organisations.

As part of our Wellbeing Project in 2023 we will introduce a Bereavement Help Point. Run in partnership with St Christopher’s Hospice and Lambeth Libraries, this group will provide an open space for people who are bereaved to meet and support each other. We also continue to act as a nurture organisation for the Lambeth Wellbeing Fund, most recently supporting Aunty Gloria’s Kitchen, a weekly community wellbeing group.

Quality Standards

Centre 70 works to high professional standards. We have retained the LEXCEL Law Society legal practice quality accreditation. The Counselling and Wellbeing service is accredited with The British Association of Counselling and Psychotherapy (BACP). We are progressing with the renewal of the Cyber Essentials certification. We are authorised by the Financial Conduct Authority, Authorisation number 618717.

Public benefit

The Trustees consider that Centre 70’s objectives and activities stated above provides public benefit within the meaning and terms of the Charity Commission.

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Strategic Priorities 2022/25

We continue to align work with four strategic priorities below:

  1. Increase awareness and access to legal rights and entitlements

  2. Improve mental health and wellbeing

  3. Improve access to life opportunities

  4. Improve sustainability of the organisation

Annual objectives 2023 / 24

At our annual Trustee away day in January 2023, and incorporating feedback from a staff sent survey in 2022, we reviewed our annual objectives, and continued to focus efforts on the following:

  1. Improve the premises at Knights Hill – making it a nicer building to both work and access services from, prioritising essential work such as heating and ventilation and upgrading electrics, whilst we fundraise for bigger renovations

  2. Undertake a capacity review – looking at staffing, structure and succession planning for senior management

  3. Undertake a delivery review – including online versus face to face services; one to one support & group support; alternatives methods of delivery to achieve our outcomes

  4. Broader communications and messaging, including engaging with other organisations for cascading, reach and diversity via our website and other channels

  5. Address trustee succession recruiting to skills gaps and improved diversity as appropriate

  6. Select and implement a new CRM to enable better record keeping and improved monitoring and evaluation of our work

Volunteers

Centre 70 extends its thanks to all the volunteers who help deliver our impact - including the volunteer lawyers who staff the weekly Monday evening Legal Advice Clinic, the volunteers who provide the counselling sessions, and the Inspire volunteers – service users who are now volunteering, for example, to deliver utilities information workshops, to help with administration and to set up peer support groups.

Environmental responsibility

Centre 70 is committed to minimising the environmental impact of running our organisation. We regularly monitor and review our Environmental Action Plan which covers a wide range of action points such as reduced energy and waste. This year we will undertake an Eco Audit funded by City Bridge Trust and any new environmental practices recommended will be added to the plan. Centre 70's Environmental and Sustainability Policy Statement is available on request.

Structure, Governance and Management

Organisational structure

The Centre is governed by a Board of Trustees, who are also the directors/trustees of the charitable company. All of the Trustees are volunteers and some have served for several years. The Board meets about every six

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weeks. The Director and Managers of the two projects run by the charity (the Advice Centre and the Counselling and Wellbeing Service) report to the Board by written and oral reports. There are a number of sub-groups which meet regularly to support the work of Centre 70 and they are comprised of trustees, staff and volunteers; they report to the Board.

Current Trustees

The day to day running of the Centre is given to the Director who is supported by the Head of Advice Services and the Counselling and Wellbeing Services Manager and staff. The Director meets regularly with the Chair of Trustees. The Office Handbook contains the organisation chart and details and a table of delegated powers.

Recruitment and appointment of new trustees

The Board is always looking for new Board members with suitable skills and connection with the area that is served. In the last financial year one new member has been recruited. Training is available for Trustees and there is an induction procedure to support new Trustees, including a buddying arrangement with an experienced Trustee. There are opportunities to meet staff and become familiar with the work including experiencing the work at our reception desk. Trustees have access to the Office Handbook (guidance including staff conditions of service and aspects of conduct which embody the ethos of Centre 70). A skills audit is undertaken of Trustees and regularly reviewed to ensure there are a range of skills needed for effective governance.

Trustees are elected to the Board at the Annual General Meeting.

Key management remuneration

Senior Management Team remuneration in the year (three posts) was £136,169 (2021-22 £136,569). It should be noted that the majority of the three managers’ work relates to Charitable Activities.

Governance

The charity is constituted as a company limited by guarantee, as defined by the Companies Act 2006, and is therefore governed by its Memorandum and Articles of Association. This replaced the original trust deed in 1987.

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Centre 70’s Board of Trustees review its governance in light of the Charity Governance Code and subject all its processes and procedures to the principles set out in the Code as below.

Charity Governance Code

Purpose

The Board shares a good understanding and commitment to and can articulate the purpose of Centre 70 and the impact it delivers through its services. The strategic plan, reviewed at Board meetings, sets out delivery of Centre 70's purpose, with performance evaluated, benchmarked and measured with stakeholders including users, partners and funders.

Leadership

The Trustees accept collective responsibility for Centre 70's aims, reflecting the agreed vision and values. Appropriate supervision is made for staff and volunteers and rigorous review procedures apply to appointments of Trustees and recruitment of staff and volunteers. Current work underway is focussing on succession plans and potential restructuring to ensure Centre 70 has the correct staffing structure to deliver its aims in future.

Integrity

The Board is committed to acting in the best interests of Centre 70 and its service users and avoids any exercise of undue influence. Both Centre 70's reputation and public confidence in it are safeguarded by a variety of means including regular reviews of performance and ongoing contact with stakeholders including with elected representatives and public and other organisations. Trustees follow a code of conduct.

Decision taking, risk and control

The Board's main focus is on strategy, performance and assurance and delegates operational matters as resources allow. Regular management and financial reports are made to the board and sub-groups (Finance & personnel, Communications & marketing; Fundraising; IT; Counselling and Wellbeing; Advice) made up of Trustees and staff meet regularly to apply closer oversight. Processes are in place to manage risk.

Board effectiveness

Trustees offer a wide range of skills to enhance the Board's performance and, with the help and guidance of the Chair, seek to cultivate good and strong working relationships and a culture which is open to challenge. If a Trustee has served for more than nine years, his or her reappointment is subject to a review, taking into account the need for progressive refreshing of the board. In light of this, the length of service of Martin Beard on the board is justified with Centre 70's need to retain his experience (gained over long period in both legal work and serving Centre 70) and also on the relatively recent periods of appointment of most of the other Board members. Each year at the Trustees Away Day and subsequent Board of Trustees meetings, Centre 70 carries out a skills audit to identify new skills required and new Trustees are recruited accordingly.

Diversity

The Board seeks to recruit Trustees from a wide range of backgrounds, skills and experience. Centre 70 holds a strong commitment to equality and diversity to which all serving within Centre 70 are required to adhere. We are always seeking to strengthen diversity on the Board and are continually reviewing how and where to encourage more diversity across in the organisation in future.

Openness and accountability

Centre 70 encourages feedback on its work and performance and adheres to a strong set of values, ethics and culture. Centre 70 regularly engages with those who benefit from its work and all stakeholders.

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Remuneration of staff is based on levels adopted in the not-for-profit sector insofar as the finances of Centre 70 allow.

Responsibilities of Trustees

The Trustees (who are also the directors of Centre 70 for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (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 incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

Principal risks and uncertainties

The Board considers that the main risk to the Charity remains its dependence on a few large funding sources, although recently we have successfully diversified funders, along with the uncertainty over future funding or timing of contractual changes being proposed by the funding agencies.

Funding for advice provision at local foodbanks (a grant from City Bridge Trust to our partner Brixton Advice Centre) comes to end in October 2023. But commissioning uncertainty (including ongoing delays with the tender process) for our core Advice service from London borough of Lambeth, and provision of advice to tenants through Lambeth Housing Management, is a key challenge and risk for the charity.

We have however secured ongoing three year funding from the Walcot Foundation for our advice to students to continue and the new National Lottery Community Fund and Henry Smith funding has negated some risk related to sustainability of the Counselling and Wellbeing Service.

We now have only one, not two, housing solicitors, resulting in reduced chargeable housing work we can take on, but we have looked to increase capacity in the Housing team by increasing staff hours to off set this as far as possible, and have also taken on a paralegal.

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Other risks identified include:

Financial position

The results of the year are set out in Statement of Financial Activities. The income for the year has increased from £617,702 to £633,013. The resultant deficit for the year is £133,222 (2021-22 £55,042). General funds at the end of the year were £422,753 (2022-23 £555,975).

Given the ongoing economic climate and cost of living challenges we had advance budgeted to draw on our reserves for this financial year and were comfortable that we can carry the deficit - given the overwhelming demand for our services at this time, not only from the local community but also surrounding boroughs.

We have also however had to contemplate the needs of our own staff and their salaries to enable them to continue to do the work they do. The resulting deficit is higher than budgeted due to across the board pay increases paired with increased staff hours to meet this demand, and we will continue to fundraise to erode this deficit.

We are also ensuring that our income portfolio remains diverse to provide us with increased resilience, and targeting investment in staff in areas where we can generate further income.

Funders

These accounts show Centre 70's income comes from a wide range of funders and donors. Lambeth Council fund a proportion of our advice work, alongside the Legal Aid Agency, and HM Prison and Probation services (through European Union ESF funding to Shaw Trust). We are also funded by Trust for London to extend our Housing advice work, the Walcot Foundation for our advice for students, Thames Water Trust Fund for utilities advice and Maximus funds debt advice under the Restart Scheme.

We received National Lottery Community Fund funding to launch our new Wellbeing service, with Tudor Trust and the City of London Corporation's charity City Bridge Trust continuing their final period of funding the Inspire Project.

Donors

We are extremely grateful to our donors including the Richard & Gwendoline Chadwick's Charitable Trust and the Elizabeth and Prince Zaiger Trust. We also received some sponsorship for the London Legal Walk.

Reserves policy

Centre 70’s policy on reserves has been to maintain them at a level of four months' non-discretionary expenditure. This meets the Charity Commission's recommendations but would not necessarily enable the Centre to continue a full spread of services to clients in the event of the termination or reduction of major contracts. Unrestricted reserves at the end of year were £422,753 (2021-22 £555,975), representing over four months' non-discretionary expenditure.

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Centre 70 additionally undertakes to provide run off cover immediately upon cessation of the Centre or its legal practice if no other appropriate insurance cover is in place. In order to do this Centre 70 has created and will maintain a reserved fund of 3.5 times the present year's Professional Indemnity Insurance premium for the cost of arranging the one-off premium for such runoff cover for six years in the event that this is needed in the future.

The Board considers that the reserves at the end of the year satisfied this policy.

Auditors

The auditor is Menzies LLP of Richmond House, Walkern Road, Stevenage SG1 3QP. A resolution to reappoint as Menzies LLP as auditor will be proposed at the forthcoming Annual General Meeting. Financial statements are published on Centre 70's website and their integrity is the responsibility of the Trustees.

The Trustees have prepared this report in accordance with the provisions of Part 15 of the Companies Act 2006.

Signed by Kati Massey, Treasurer, on behalf of the Trustees of Centre 70

16-Oct-2023 Kati Massey Date:

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Report of the Independent Auditors

Opinion

We have audited the financial statements of Centre 70 (the 'charitable company') for the year ended 31st March 2023 which comprise the Statement of financial activities, the Statement of financial position, the 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 (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's 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 charitable company'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 trustees with respect to going concern are described in the relevant sections of this report.

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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 Report of the independent auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of trustees' responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) 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 the trustees 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

15

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 a Report of the independent auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 Report of the Independent Auditors.

16

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' 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 charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Menzies LLP

Chartered Accountants and Statutory Auditors

Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006

Richmond House

Walkern Road

Stevenage

Hertfordshire

SG1 3QP

18-Oct-2023

Date: .............................................

17

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Statement of financial activities

(incorporating an income and expenditure account) for the year ended 31st March 2023

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
47,974
Charitable activities
5
Advice services
358,594
Counselling services
60,490
Investment income
4
745
Total
467,803
EXPENDITURE ON
Charitable activities
6
Advice services
498,107
Counselling services
102,918
Total
601,025
NET INCOME/(EXPENDITURE)
(133,222)
RECONCILIATION OF FUNDS
Total funds brought forward
555,975
TOTAL FUNDS CARRIED FORWARD
422,753		 Restricted
funds
£
-
153,334
11,876
-
165,210
165,210
-
165,210
-
-
-		 2023
Total
funds
£
47,974
511,928
72,366
745
633,013
663,317
102,918
766,235
(133,222)
555,975
422,753		 2022
Total
funds
£
64,708
494,898
58,058
38
617,702
558,866
113,878
672,744
(55,042)
611,017
555,975

The notes form part of these financial statements

18

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Centre 70 (Registered Number: 02087528)

Statement of financial position 31st March 2023

Unrestricted
fund
Notes
£
FIXED ASSETS
Tangible assets
13
292,282
CURRENT ASSETS
Debtors
14
154,011
Cash at bank
70,984
224,995
CREDITORS
Amounts falling due within one year
15
(77,097)
NET CURRENT ASSETS
147,898
TOTAL ASSETS LESS CURRENT LIABILITIES
440,180
CREDITORS
Amounts falling due after more than one year
16
(17,427)
NET ASSETS
422,753
FUNDS
18
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
-
20,430
20,430
(20,430)
-
-
-
-		 2023
Total
funds
£
292,282
154,011
91,414
245,425
(97,527)
147,898
440,180
(17,427)
422,753
422,753
422,753		 2022
Total
funds
£
297,082
26,443
366,677
393,120
(108,373)
284,747
581,829
(25,854)
555,975
555,975
555,975

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The notes form part of these financial statements

19

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Statement of financial position - continued

31st March 2023

The trustees acknowledge their responsibilities for

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 16-Oct-2023

.............................................

K S Massey - Trustee

The notes form part of these financial statements

20

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Statement of cash flows

for the year ended 31st March 2023

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
Cash and cash equivalents at the end of the
reporting period		 2023
£
(267,339)
(267,339)
745
745
(8,669)
(8,669)
(275,263)
366,677
91,414		 2022
£
(19,011)
(19,011)
38
38
(7,940)
(7,940)
(26,913)
393,590
366,677

The notes form part of these financial statements

21

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the statement of cash flows

for the year ended 31st March 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

2023 2022
£ £
Net expenditure for the reporting period (as per the Statement of financial
activities) (133,222) (55,042)
Adjustments for:
Depreciation charges 4,800 9,619
Interest received (745) (38)
Increase in debtors (127,568) (4,126)
(Decrease)/increase in creditors (10,604) 30,576
Net cash used in operations (267,339) (19,011)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.22 Cash flow At 31.3.23
£ £ £
Net cash
Cash at bank 366,677 (275,263) 91,414
366,677 (275,263) 91,414
Debt
Debts falling due within 1 year (7,900) (608) (8,508)
Debts falling due after 1 year (25,854) 8,427 (17,427)
(33,754) 7,819 (25,935)
Total 332,923 (267,444) 65,479

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

22

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements

for the year ended 31st March 2023

1. STATUTORY INFORMATION

Centre 70 is a private company limited by guarantee, registered in England and Wales, as a well as being a charity registered in the same jurisdiction. The charity's registered numbers and office address can be found within the reference and administrative details on page 1.

The presentation currency of the financial statements is the Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis, with no material uncertainties presented by the trustees in contrary to this.

Critical accounting estimates and judgements

No significant estimates or judgements have had to be made by the trustees in preparing these financial statements.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - over the life of the lease Fixtures and fittings - 33% on cost Computer equipment - 50% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

23

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

2. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

3. DONATIONS AND LEGACIES

Donations
INVESTMENT INCOME
Deposit account interest		 2023
£
47,974
2023
£
745		 2022
£
64,708
2022
£
38

4. INVESTMENT INCOME

24

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued for the year ended 31st March 2023

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Grants
Advice services
Foodbank project
Advice services
Lambeth Housing
Management
Advice services
Legal Housing
Advice services
Legal Aid Contract
Advice services
Arts Network
Advice services
L&Q Pound Advice
Advice services
Thames Water Trust Fund
Advice services
Trust for London (project)
Advice services
Lambeth Wellbeing Hubs
Advice services
Grants
Counselling services
Counselling service fees
Counselling services
Learning Without
Classrooms
Counselling services
Carried forward		 2023
£
189,680
26,952
93,650
64,957
3,385
-
33,002
39,002
36,300
25,000
8,226
21,834
-
541,988		 2022
£
212,587
25,694
93,650
72,261
5,867
795
41,240
6,504
36,300
-
35,325
20,704
2,029
552,956

25

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Brought forward
Chaniel Community Project
Counselling services
National Lottery Community
Advice Partnership Project
Counselling services
Grants received, included in the above, are as follows:
The Walcot Foundation
London Borough of Lambeth
HMPPS
Tudor Trust
City Bridge Trust
CHARITABLE ACTIVITIES COSTS
Advice services
Counselling services		 Direct
Costs (see
note 7)
£
639,241
102,918
742,159		 2023
£
541,988
3,650
38,656
584,294
2023
£
52,836
98,000
26,420
10,325
10,325
197,906
Support
costs (see
note 8)
£
24,076
-
24,076		 2022
£
552,956
-
-
552,956
2022
£
51,712
102,000
23,550
30,000
40,650
247,912
Totals
£
663,317
102,918
766,235

6. CHARITABLE ACTIVITIES COSTS

26

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

7. DIRECT COSTS OF CHARITABLE ACTIVITIES

7.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Staff costs
Insurance
Utilities
Telephone
Postage and stationery
Sundries
Repairs and maintenance
Staff support costs
Subscriptions and publications
Computer and related costs
Bank charges and interest
Counselling supervision fees
Depreciation
8.
SUPPORT COSTS
Advice services
Support costs, included in the above, are as follows:
Auditors' remuneration
Finance workers		 2023
2022
£
£
655,141
571,364
7,934
4,324
5,321
3,861
5,516
5,260
5,238
7,540
11,513
12,118
9,986
13,269
1,322
3,086
3,901
3,107
12,883
9,804
3,540
4,397
15,064
7,658
4,800
9,619
742,159
655,407
Governance
costs
£
24,076
2023
2022
Advice
Total
services
activities
£
£
5,500
4,750
18,576
12,587
24,076
17,337

27

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

9. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£ £
Auditors' remuneration 5,500 4,750
Depreciation - owned assets 4,800 9,619

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022.

11. STAFF COSTS

STAFF COSTS
Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Advice
Counselling		 2023
£
583,357
58,507
13,277
655,141
2023
19
4
23		 2022
£
517,660
42,856
10,848
571,364
2022
17
3
20

No employees received emoluments in excess of £60,000.

28

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
64,708
Charitable activities
Advice services
391,075
Counselling services
20,704
Investment income
38
Total
476,525
EXPENDITURE ON
Charitable activities
Advice services
453,014
Counselling services
78,553
Total
531,567
NET INCOME/(EXPENDITURE)
(55,042)
RECONCILIATION OF FUNDS
Total funds brought forward
611,017
TOTAL FUNDS CARRIED FORWARD
555,975		 Restricted
funds
£
-
103,823
37,354
-
141,177
105,852
35,325
141,177
-
-
-		 Total
funds
£
64,708
494,898
58,058
38
617,702
558,866
113,878
672,744
(55,042)
611,017
555,975

29

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

13. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Cost
At 1st April 2022 and
31st March 2023
Depreciation
At 1st April 2022
Charge for year
At 31st March 2023
Net book value
At 31st March 2023
At 31st March 2022
DEBTORS: AMOUNTS FALLING
Trade debtors
Prepayments		 Improvements
Long
to
leasehold
property
£
£
240,000
120,470
5,600
57,788
4,800
-
10,400
57,788
229,600
62,682
234,400
62,682
DUE WITHIN ONE YEAR		 Fixtures
and
fittings
£
25,510
25,510
-
25,510
-
-		 Computer
equipment
£
22,340
22,340
-
22,340
-
-
2023
£
153,451
560
154,011		 Totals
£
408,320
111,238
4,800
116,038
292,282
297,082
2022
£
24,259
2,184
26,443

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 17)
Trade creditors
Social security and other taxes
VAT
Other creditors
Deferred income
Accruals		 2023
£
8,508
-
2,640
32,373
11,665
20,430
21,911
97,527		 2022
£
7,900
850
24,725
27,474
-
24,082
23,342
108,373

Deferred income has been accounted to ensure that charitable income has been recognised in the correct financial period, in accordance with the accounting policies of the entity.

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 17)
17.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans
Amounts falling due between two and five years:
Bank loans		 2023
£
17,427
2023
£
8,508
9,169
8,258		 2022
£
25,854
2022
£
7,900
8,508
17,346

31

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

18. MOVEMENT IN FUNDS

Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Thames Water Trust Fund
Tudor Trust
City Bridge Trust
Foodbank projects
Chaniel Community Project
Trust for London
National Lottery Community Advice
TOTAL FUNDS		 Net movement
At
At 1.4.22
in funds
31.3.23
£
£
£
555,975
(133,222)
422,753
555,975
(133,222)
422,753
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
467,803
(601,025)
(133,222)
39,002
(39,002)
-
10,325
(10,325)
-
10,325
(10,325)
-
26,952
(26,952)
-
3,650
(3,650)
-
36,300
(36,300)
-
38,656
(38,656)
-
165,210
(165,210)
-
633,013
(766,235)
(133,222)

32

DocuSign Envelope ID: 9727FB9A-5B36-4CF6-99D5-0B20F79879C9

Notes to the financial statements - continued

for the year ended 31st March 2023

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Comparatives for movement in funds
Net movement At
At 1.4.21
in funds		 31.3.22
£ £ £
Unrestricted funds
General fund 611,017 (55,042) 555,975
TOTAL FUNDS 611,017 (55,042) 555,975
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources		 Movement
resources
expended		 in funds
£ £ £
Unrestricted funds
General fund 476,525 (531,567) (55,042)
Restricted funds
Thames Water Trust Fund 6,504 (6,504) -
Tudor Trust 30,000 (30,000) -
City Bridge Trust 40,650 (40,650) -
Foodbank projects 25,694 (25,694) -
Learning Without Classrooms 2,029 (2,029) -
Trust for London 36,300 (36,300) -
141,177 (141,177) -
TOTAL FUNDS 617,702 (672,744) (55,042)

19. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023 (2022 - None).

33