Annual Report and Financial Statements (unaudited) For the year ended 31 March 2023
centre trust
Coin Street Centre Trust (Company Limited by Guarantee) Company number: 02095752 Charity number: 296219
## Annual Report and Financial Statements (unaudited) For the year ended 31 March 2023
## Contents
Reference and administrative information . . . . . . . . . . . . . . 1 Trustees’ annual report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Independent examiner’s report . . . . . . . . . . . . . . . . . . . . . . 32 Statement of financial activities . . . . . . . . . . . . . . . . . . . . . . . 34 (incorporating an income and expenditure account) Balance sheet . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35 Notes to the financial statements . . . . . . . . . . . . . . . . . . . . . 36
Coin Street Centre Trust for the year ended 31 March 2023
## Reference and administrative information
## Company number
02095752
Charity number 296219
Registered office and operational address Coin Street neighbourhood centre 108 Stamford Street London SE1 9NH
## Trustees
The Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:
Leonard Goodrich (Chair)
Jo-Anna Van Den Bosch (Vice Chair)
Peter Stephens (Treasurer)
## Secretary
David Hopkins
## Bankers
Lloyds Bank City Office Branch P.O. 72 Bailey Drive Gillingham Business Park Kent M8 0LS
Solicitors Bates Wells 10 Queen Street Place London EC4R 1BE
## Elizabeth Frimpong
Jack Goldfinch (resigned 28 September 2022)
Yvonne Owusu-Afriyie (resigned 28 September 2022 and reappointed 22 May 2023)
Independent examiner Noelia Serrano Sayer Vincent LLP Chartered Accountants and Statutory Auditors Invicta House 108-114 Golden Lane London EC1Y 0TL
Annoula Peppas
Alexandra Perry
Claire Reindorp
Christopher Symons
Patrick Wallace
Alice Wilcock
Coin Street Centre Trust for the year ended 31 March 2023
**1**
The Trustees present their report and the unaudited financial statements for the year ended 31 March 2023 .
The reference and administrative information set out on page 1 forms part of this report . The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.
Coin Street Centre Trust for the year ended 31 March 2023
**2**
## Trustees’ annual report
## Structure, governance, and management
The Trust was incorporated as a company limited by guarantee without share capital and registered as a Charity in February 1987. The powers and limits of the Trust are set out in the Memorandum and Articles of Association dated 8 October 1986.
By special resolution dated 5 June 2014 and 30 September 2019 the Trustees agreed to amend its articles. Inter alia the amendments permit the Trust to advance any exclusively charitable purpose which the Trustees think fit for the benefit of the public with a particular focus on Waterloo and North Southwark.
No outside body has the right to membership of the Trust. All decisions relating to the work of the Trust are taken by the Trustees.
The Trust became the sole member of Colombo Street Community and Sports Centre (Colombo) on 7 December 2009. It continues to be responsible for determining the membership of the Colombo board and hence Colombo is its subsidiary. Following changes introduced by the Charities Act 2011 (Group Accounts) Regulations 2015 the Trust no longer needs to produce consolidated financial statements and therefore has decided not to do so.
## Financial review
The Charity had an operating deficit of £43,178 for the year ended 31 March 2023 (2022: £19,117 surplus). The Trust’s reserves are held as cash and working capital. The Trust received services in kind from CSCB of £231,465 during the year ended 31 March 2023 (2022: £207,589); there was no further unrestricted donation (2022: £60,000), see Note 6.
The Trust’s reserves policy is to hold free reserves equivalent to three months’ operating expenditure to maintain a level of programmes in the short term to the local community in the event of an unexpected reduction in fundraised income or services in kind. On 31 March 2023, the Trusts reserves totalled £259,779 (2022: £339,095). Of this reserve the Trustees have designated funds of £209,159 (2022 £259,799) leaving free reserves of £67,446 (2022: £63,066). This is below the target three months but sufficient services in kind have been pledged for 2023/24 and reserves designated to support the ongoing delivery of our community projects and programmes. Trustees will look to rebuild free reserves and review the reserves policy annually.
The Trustees have taken advantage of the provisions of the Companies Act 2006 and the Charities Act 2011 to dispense with an audit and replace it with an independent examination.
The Trust works closely with Coin Street Community Builders (CSCB), a local social enterprise and development trust. The Trust jointly occupies the Coin Street neighbourhood centre with Coin Street Community Builders.
All Trustees give their time voluntarily. No Trustee received any remuneration or reimbursement of expenses (2022: nil).
Coin Street Centre Trust for the year ended 31 March 2023
**3**
Trustees’ annual report
## Objectives and activities
## Purpose and aims
The Trust seeks “to advance any exclusively charitable purpose which the Trustees think fit for the benefit of the public without distinction of sex or of political or religious or other opinions and with a particular focus on Waterloo and North Southwark.”
For the financial year 2022/23 the Trustees set out three overarching objectives to guide the work of the Trust:
## 1. Best start for children and families
2. Health and wellbeing for everyone
3. Enterprise, creativity, and lifelong learning
These objectives are realised in several ways including via the governance and oversight of the Coin Street family and children’s centre; as well as via an established partnership with Coin Street Community Builders to support an extensive range of community programmes* delivered by Coin Street and its partners; and the provision of leisure and recreational facilities and programmes primarily for the residents of Waterloo and North Southwark.
*Please see organisational strategic priority infographic as relates to the above
The Trustees review the aims, objectives, and activities of the Charity each year. This report looks at what the Charity has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the Charity has brought to those groups of people that it is set up to help. The review also helps the Trustees ensure the Charity’s aims, objectives and activities remained focused on its stated purposes.
The Trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives that have been set to achieve our intended public benefit.
## Achievements and performance
Coin Street Centre Trust collaborates closely with Coin Street Community Builders and Colombo Community and Sports Centre, fostering diverse community activities and facilities catering to all age groups and evolving needs.
Our approach is rooted in the priorities of our community, ensuring responsiveness and adaptability.
Thank you to all the organisations that generously provided funding this year, empowering our work in supporting our community. You have made a significant difference to the lives of those we serve, and we appreciate your commitment to our shared vision.
Archbishop’s Park Community Trust Better Bankside Greater London Authority Incredible Edible Lambeth Jack Petchey Foundation King’s College London Lambeth Council London Sport London Youth Metropolitan Public Gardens Association Southwark Charities Southwark Council St Olave’s Foundation Fund The Mayor’s Fund for London The National Lottery Walcot Foundation Westminster School
Our work depends on the dedication of local people who volunteer generously giving their time and talents to serve our community. This year we were supported by 80 volunteers of all ages. These volunteers are the backbone of so many of the activities you will read about in this report, and their contribution embodies the energy of our community to support one another.
Coin Street Centre Trust for the year ended 31 March 2023
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## Organisational strategic priority
## We are passionate about…
## Vision
An inspirational neighbourhood - powered by social enterprise
## Mission
create and support a resilient, adaptable neighbourhood, of people and places, where everyone’s diverse needs are met
## Values
Creative Collaborative Committed Curious Inclusive
## Strategic pillars/outcomes
**Best start for children and families**
High quality delivery of direct services to the local community including nursery, family support sessions delivered all year round
Hosting other family services to meet community need
**Health and wellbeing for everyone**
Delivering a rich programme of health and wellbeing sessions and facilities
Offering a broad range of outreach services
Building resilience in the community, connecting people and improving their environment
## **Enterprise, creativity and lifelong learning**
Delivering high quality direct services, skills workshops and opportunities
Supporting creative talent
Developing and supporting other neighbourhood based social enterprises
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## Best start **for children and families**
Coin Street Centre Trust for the year ended 31 March 2023
**6**
At Coin Street we believe in investing early to give every child the best start in life . We are there for all families, whatever challenges they face.
Our neighbourhood centre is the family and children’s centre for our area, serving parents and children across Lambeth and Southwark. Our day nursery and specialist baby unit acts as an essential resource for families in the local area. We provide quality, affordable and inclusive early education and childcare for children aged three months to five years.
Coin Street Centre Trust and Coin Street Community Builders jointly operate our family and children’s centre, with the Trust overseeing the day-to-day work of the centre. Through our partnership with 1st Place Children and Parent’s Centre, and thanks to the support of Southwark Council, we were able to increase our reach to families not accessing support elsewhere and bring the Council’s Keeping Families Strong pledge to life across our neighbourhood.
As children grow up to become young people, Coin Street remains alongside them and their parents' providing opportunities, activities, and support.
The activities we run at the Colombo Centre in partnership with Colombo Street Community and Sports Centre remain popular as one of the few remaining youth clubs operating in the area, amidst widespread cuts and closures of other youth projects.
This year our focus remained squarely on getting the best outcomes for young lives, including in the following ways on pages 8-15.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## **Our community as a classroom**
Our neighbourhood is the most incredible learning environment, packed full of opportunities to broaden the horizons of our children and young people. We are based in one of the most vibrant and culturally interesting places in the UK.
We collaborated with our neighbours at Kings College London to host two engaging science sessions themed around “Body Detectives” for children aged 4 to 8 years old. These sessions explored plants and the human body. Through fun and interactive activities like making jelly brains and hearts, children gained valuable insights into the world of science and research and got to meet some real scientists and learn what they do!
With our nursery children we were able to extend the learning from our core books into the real world.
“The Naughty Bus” book inspired a bus trip, for the children to experience London's vibrant streets from a new perspective and included a visit to the London Transport Museum in Covent Garden. Back at the nursery, they built their own models of tube trains, buses, and taxis.
We built on the learning from “The Fluffy Chick” book with a thrilling trip to a local farm, where the magic of the story came to life. Our children marveled at the wonders of the farm. Witnessing duck and butterfly lifecycles, from eggs to hatchlings and caterpillars to butterflies, deepens children’s natural world understanding, vocabulary, and creativity. They also encountered pigs, horses, and llamas. The train journey was an exhilirating experience for the children, adding excitement to the day.
We arranged several opportunities for young people to experience arts, culture and how the world works up close and personal, throughout the year. This included:
- Sitting in on a rehearsal session for the Southbank Sinfonia and discussing the art of performance with them
- An invitation to the Houses of Parliament by Florence Eshalomi MP to discuss young people’s futures
- A visit to the immersive Van Gogh exhibition
- Outdoor orientating skills on a hilltop hike around Box Hill
- A trip to see Rambert’s performance of Peaky Blinders and a chance to meet the dancers
Our Young Leaders were able to put to work the insights they gained from talking to artists when they organised their own intergenerational art exhibition at the local Bankside Nolia’s Gallery. This was a partnership between the Coin Street Over 50’s Art Group and the Young Leaders focused on “The Art of Wellbeing” that sought to explore wellbeing through the tactile nature of sculpture and paint.
The process of developing an art exhibition from idea to implementation is the sort of “learning by doing” that Coin Street Centre Trust believes is so important. The partnership between our young people and seniors was cemented in an intergenerational day trip to Margate to visit the Turner Contemporary Gallery to see and discuss the art together (as well as a trip to the beach!).
Coin Street Centre Trust for the year ended 31 March 2023
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¢41
Coin Street Centre Trust forthe year ended 31 March 2023
Trustees’ annual report
## **Our community as a classroom** Providing social and learning opportunities in the crucial early years
Our Stay and Play sessions for under 5s provide the opportunity for families to meet in a relaxed environment where parents, carers and children participate in exploration and play activities with support from experienced staff. Sessions provide a mix of stories, songs, games, messy play, and creative activities.
Through the partnerships we develop, parents and carers of young children were able to access a range of courses and workshops that included
- Speech and language drop-in advice sessions with the Evelina NHS Community Speech and Language Therapy team
- Access to free fresh fruit and vegetables through the Rose Voucher Scheme
- Baby massage courses and school readiness workshops
- Early Communication and literacy development with Early Words Together at Two
- A free book in the post each month with Dolly Parton’s Imagination Library
- Mental health clinic from the NHS Community Perinatal Service
- SENsational stay and play sessions for children with additional needs
- Little Green Fingers family gardening and growing workshops
- Healthy eating and parenting support from the HENRY (Health, Exercise and Nutrition for the Really Young) programme
Coin Street Centre Trust for the year ended 31 March 2023
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Our health suite played host to antenatal appointments and postnatal checkups from the midwife team at Guy’s and St Thomas’s Foundation NHS Trust. We hosted more than 1,000 appointments across the year, enabling parents to get the advice they need in a relaxed community setting.
Over 80 families were engaged through various activity sessions over summer. Day trips to destinations like Camber Sands and St. James Park allowed families to enjoy experiences they might afford or organise on their own.
## **La Leche League GB**
At our neighbourhood centre La Leche League provided fortnightly meetings, 25 times a year to 289 attendees with 1,300 appointments offering parents invaluable advice and support covering all aspects of breastfeeding:
The Family Support team marked various cultural dates with families. From a 70th Platinum Jubilee “street party” for HM Queen Elizabeth II to commemorating Black History Month and Eid.
- birth and the first feedings,
- positioning baby at the breast
- overcoming difficulties and sharing concerns
- starting solid foods
In December we created Santa’s Grotto. Families attending the centre visited Santa, taking family pictures, and receiving gifts. The Christmas Toy Drive received an overwhelming response from staff and parents, with over 100 high-quality toys donated.
- nutrition, weaning and toddlers.
Vulnerable families were invited to a Christmas event, complete with a traditional lunch prepared by our nursery chef. This event was an important opportunity for families to connect and enjoy each other’s company.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## **Supporting young people** as they grow and develop
## _**“**_
The Trust aims to get alongside young people to build on their talents, nurture their resilience, and support them to access sports, the arts, enterprise, wellbeing, and social action.
Our weekly homework and tutoring club for 10–18 year-olds continued to grow, adding an additional session to meet demand. We are grateful to our dedicated team of volunteer tutors from across our neighbourhood who supported our cohort of around 30 young students each week and to the Walcot Foundation for their support this year in funding this programme.
_**I chair the Young Leaders session, where we discuss current issues. We get involved with our local politicians (Florence Eshalomi MP, Vauxhall) and try to change things in our community for the better. During summer, the Good for Girls programme raised funds to host a Christmas lunch for seniors”.**_
Iman, Young Leader
Coin Street Centre Trust for the year ended 31 March 2023
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Every Monday evening our group of Young Leaders convene, giving the opportunity for hands-on experience of running youth-led projects, events and campaigns.
## **Supporting young people as they grow and develop**
As one of the few youth clubs left in this area, Youth Night every Thursday, remained at capacity catering to local 8–16-year-olds with a mix of activities encompassing arts and crafts, multi-sports, and the chance to get to know other young people.
This year we again delivered our popular Easter and Summer Youth Camps. Our usual mix of activities were supplemented by trips out each week and a healthy lunch every day. Throughout our four-week run during August we were able to support 60 young people aged 8-14 to make their summer productive and memorable.
Our weekend football sessions in partnership with the Colombo Centre every Saturday and Sunday evening attracted around 50 young people each week for a mix of coaching, play and skill and confidence building.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## **Specialist support** to help families overcome more complex challenges
We aim to ensure our community is one where everyone can meet their needs and lead a good life.
Our dedicated Children and Family Worker case worker support helped families navigate a range of complex challenges that included domestic violence, parental mental health, family breakdown, and housing and debt problems. We provided intensive one-to-one support for parents and carers as well as access to specialists such as counsellors and health professionals, legal advisors, and employment support.
As families were resettled, we helped them to contact support agencies in their new home city and arranged appointments to give them a head start on getting to know their new neighbourhoods.
Our nursery takes an inclusive approach. We know it is in the first few years of life that special educational needs emerge. We are well equipped to support children across the full range of needs and support their parents to make sense of a diagnosis as the following case study shows.
This year we continued to support over 100 Afghan families forced to leave their homes in Afghanistan due to the crisis there, and who were housed in two local hotels, while awaiting permanent resettlement elsewhere in the UK. We provided a “home from home” for families giving them access to our kitchen and play space so families could come together to prepare, cook, and eat their favourite hot meals together. We organised workshops on topics including safety in the home and out on the roads, managing child behaviour, nutrition, and British culture. Over time we came to know families better, we were able to identify and address unresolved trauma through careful exploration and onward referrals to mental health specialists.
## **Case Study**
A child struggling with sleep, recently joined our baby room but settling in proved to be a challenge. This child was also spontaneously biting other children. Through staff observation and consultation with parents, we discovered that the biting behavior was sensory seeking.
Concerned about the child’s well-being, we made a referral for a developmental assessment. Although the developmental assessment request was turned down, we persevered. We collaborated with the parents and implemented changes to the child’s daytime sleeping patterns, as recommended by a sleep clinic.
Despite our efforts, the biting behavior persisted. We implemented one-to-one support to focus on nurturing positive behaviours and equipping the child with appropriate interactions with peers.
Our intensive intervention proved fruitful, successfully breaking the link between the impulse to bite and the actual biting behavior.
The child is making better progress against their developmental outcomes, and we are assisting the parents in their child's referral for an Autistic Spectrum Disorder diagnosis.
Coin Street Centre Trust for the year ended 31 March 2023
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Coin Street Centre Trust forthe year ended 31 March 2023
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Trustees’ annual report
## Health and wellbeing **for everyone**
Coin Street Centre Trust for the year ended 31 March 2023
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Everyday life in a busy city can, at times, be stressful and isolating .
Good health and wellbeing across a lifetime are a priority for the Trust .
We tackle this through opportunities to get active and healthy, connecting people for friendship and laughter, and offering space to think and talk when a bit of expert help is needed .
## **Getting active,** no matter the age
We start young in organising toddler yoga classes and active mover sessions to get families exercising together in the first years of life.
Throughout the pre-teen and teenage years, there are a wide range of options we offer in collaboration with the Colombo Centre. Hip hop dance classes on a Wednesday night, football and basketball coaching on Thursdays, Saturday and Sunday and our Youth Gym sessions on Friday evenings give young people the chance to be guided around the gym by an experienced trainer.
Feel Good Saturday sessions are targeted at keeping our over 50s moving, and our participants include those with severe mobility issues and many in their 80s. At these sessions we encourage participation in a way that feels comfortable, with a mix of movement, exercise, and a social lunch. Options include gym circuits, badminton and table tennis, alongside guided walking football and soothing massages. In response to post-pandemic mobility challenges, we introduced new chair yoga and regular yoga sessions and have offered free gym membership for participants who could not otherwise afford it. As their confidence grows, many attend on their own outside the session.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## **Getting active,** no matter the age
## _**“**_
Our long-standing partnership with Rambert dance company provides an accessible and affordable community dance programme for the local area. Local schools benefit from workshops led by professional dancers. We provide free tickets to Rambert’s performances at Sadlers Wells Theatre, introducing new audiences to the experience of watching contemporary dance on the big stage. People living in the Coin Street neighbourhood area can access a wide range of free and reduced fee dance classes with something for all ages.
## _**“**_
_**I have been going to the Feel Good Saturday sessions for quite a few years now and have benefited and enjoyed so much from both the social side as much as the exercise and the fantastic staff that make it all worthwhile.”**_
_**I love the classes and look forward to them every week – I always leave feeling positive.”**_
For those who would rather join in from home, Rambert Plus is available to Coin Street residents for free online dance and fitness classes.
## _**“**_
_**Thank you for these wonderful classes! We simply love them, and I know that they are great fun for my daughter.”**_
Future Movement is a fresh collaboration between Rambert and our partners for young people aged 16-19 who live in South London (Coin Street and beyond). This year the cohort made their very own TV show with the help of top industry professionals.
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## **Case Study**
Aniya's Journey to a Healthy and Vibrant Life
## _**“**_
_**After retirement I had a few health issues. I had not realised that when I retired, I had not only retired from work but also, bit by bit, I had been retiring socially. As I had never even been in a gym before I was not enthusiastic about joining, but needed to get fit, so went along to Colombo Centre.**_
_**Engin (our trainer) makes it fun, with a well-planned exercise program tailored to own pace. I have learnt how to use the gym equipment and am fitter and better for it. I particularly like walking football; it is fun and good exercise.”**_
Aniya, a long-term user of Coin Street coffee morning, annual parties, events, and the Feel Good Saturday session.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees, annual report
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1¢
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Coin Street Centre Trust forthe year ended 31 March 2023
**Building friendships** and connections
We offer diverse ways people can stay connected to each other, to stay well and build a sense of belonging and community.
The Coin Street Community Singers get together every Thursday evening. Advice is provided from trained professionals on vocalisation, performance and more as we look at musical theatre, harmonies, worldly music and have fun singing together. Members of any age or level of experience are welcome to come along.
## _**“**_
_**I’ve been part of the choir since its conception, and I love singing...I’m the happiest when I sing so this is the highlight of my week – coming to the choir and singing with the community.”**_
Our Gentle Gardening group meet weekly at Bernie Spain Gardens. Volunteers of all ages meet new people, learn about growing vegetables, herbs and plants, and enjoy trips to local gardens.
## _**“**_
_**I was one of the first members of the group. When I started volunteering it was just me and the gardener. I have a window box at home and love to learn about plants.**_
Gardening sessions have offered an alternative learning experience to students at London Nautical School who struggle to thrive in mainstream lessons but enjoy working alongside our gardening volunteers.
## _**“**_
_**I used to hate gardening but now I love it. These sessions are the highlight of my week.”**_
Weekly coffee morning on Thursday provides hot drinks, conversation, and quizzes for senior residents. There is also the chance to take part in wellbeing activities and access the Colombo gym.
Our Coin Street parties, celebrations and social events provide an opportunity to strengthen the glue that binds our community. They remain a highlight of the annual calendar and this year included
- Eid celebration feast for families in May
- Jubilee Senior’s Tea Dance in June
- Summer Teenage Treasure Hunt in August
- Urban Harvest Garden Party in September
- Black History Month Dance Party in October
- Coin Street Santa’s Grotto, Toy Drive and Family Christmas Lunch in December
- Young at Heart Seniors New Year Party in January
People tell us these events and parties are a time when they catch up with friends and make new memories together.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## Enterprise, creativity and **lifelong learning**
The Trust believes creativity is for everyone, and that learning never stops . We aim to facilitate everyday opportunities for people in our community to get enterprising, be creative and develop new skills and talents .
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## **Case Study**
Our fortnightly Art Group is aimed at people over 50 and gives participants a chance to try new ways to express their thoughts and ideas about life, as well as meeting new people.
Gina is a compassionate Franciscan Sister, dedicated to serving others. Despite her desire to explore art, financial constraints made attending formal classes seem impossible until she found the Coin Street Art Group.
With a mix of excitement and trepidation, Gina stepped into the art group, having only dabbled in crafts before. But something magical happened over two terms. Surrounded by supportive peers and equipped with the right materials, Gina’s creative spirit blossomed.
“This experience has been a delightful opportunity to discover new gifts in a nurturing and encouraging environment. Delighted. Grateful. Encouraged.”
The art group quickly became more than just a creative outlet. It became a sanctuary for Gina, offering precious “me-time” where she could focus on her well-being and find solace in self-expression. Working with clay ignited a spark in her, and she sculpted a remarkable figure of Desmond Tutu.
The pride and joy of seeing her creations displayed in an exhibition were beyond measure. The tutor’s encouraging support played a crucial role in Gina’s artistic journey, inspiring her to push her boundaries and embrace her talents fully.
## **Case Study**
Grace’s Journey
Grace lives in and has grown up in one of the Coin Street housing cooperatives, next door to our neighbourhood centre. Grace has an Education, Health and Care plan due to her Autistic Spectrum Disorder, which she utilised to embark on volunteering with Coin Street Nursery two days a week.
With support from her Autism Work Coach, Grace applied for a place on the Government Kickstart Scheme, aimed at young people under 25. The sixmonth scheme, offering 25 hours of work per week, proved to be a transformative experience. With the funding linked to the scheme, Grace enrolled in the NVQ Level 2 in Childcare, building on her successful nursery placement.
Grace secured a role working regular days in the nursery, balancing her job with her ongoing course. Team members provided mentorship and support, guiding Grace in her coursework and personal growth.
Now a full-time member of our team, Grace contributes to the nurturing environment we cultivate in the nursery. The nursery has offered a potential career path to Grace, where she can enrich the lives of the children she cares for.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## Enterprise, creativity and **lifelong learning**
## **Case Study**
Through the London Youth funded Good for Girls project, our Young Leaders group were able to develop a creative vision and work through the steps to make it real. Over the summer, the group were supported to design, create, and manufacture their own mini range of products.
They then developed a plan to get their products in front of customers. They organised two successful market stalls in August, one in Bernie Spain Gardens and another on Lower Marsh as well as hosting two community swop shop and jumble sales at the Colombo Centre.
The range of products they offered displayed their talent and passion, including beautifully designed t-shirts, decorated mugs, tote bags, and badges.
The Young Leaders used the profits they made to fund a heartwarming community meal in December, bringing together the seniors they collaborated on the art project and shared unforgettable memories with on the summer trip to Margate.
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## **Case Study**
Local resident Stephanie arrived at Coin Street as a new parent in 2011 and her family has grown up with us ever since.
As her children have grown, Stephanie was keen to pursue her own growth as well as “give back” for the help and support she received. She has become a dedicated and multi-skilled volunteer, whether using her culinary skills to feed hungry mouths or helping to run creative activities in the summer.
We were delighted when she was honoured in September at the Tate Modern for her contribution to Southwark as a Volunteer Champion as part of the Southwark Stars Awards, organised by Community Southwark.
Coin Street Centre Trust for the year ended 31 March 2023
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Trustees’ annual report
## Embracing feedback, **to help us better change lives**
Coin Street Centre Trust for the year ended 31 March 2023
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This year, we have embraced every opportunity to get feedback on what we deliver, so we can achieve quality in all that we do.
## _**“**_
_**It is a loving, kind, and special place where great memories are made. We are fortunate to have Coin Street in our neighbourhood.”**_
Our day nursery surveyed every parent with a child at Coin Street and of those that participated (80%), 100% of them told us their child was happy at nursery and that they would wholeheartedly recommend Coin Street to others.
We welcome Ofsted back to our nursery in March for their five yearly inspection. The Inspector described it as a “unique” and “special place” and highlighted the exceptional experience and passion of the team and the importance of our eight curricular goals in meticulously preparing children for their school journey.
We were pleased the Inspector noted the “warm, welcoming and happy environment” as well as parents appreciating “the open communication and feedback about their children’s well-being and development.”
## _**“**_
## _**We’re delighted with Coin Street**_
_**Nursery. You manage to retain excellent staff, keep costs competitive, and have a smart approach to learning. I have recommended it to other parents, all of whom seem happy.”**_
Our focus on inclusion and supporting children with special educational needs and/or disabilities was praised, and our provision was rated good on all counts. The Inspector’s advice about how we further encourage children to learn to develop self-care and information recall skills was warmly received, and we look forward to our next inspection.
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Trustees’ annual report
## Embracing feedback, **to help us better change lives**
## _**“**_
In August we hosted a visit by the Children’s Commissioner for England team. They met parents and children and subsequently featured Coin Street as a family hub case study in their Independent Family Review report, reflecting that our Centre replicates the kind of help you get from a family – always there for you, without judgement, and invested in you doing well.
_**“ I didn’t know what to do, but this place felt like home.”**_
## Coin Street parent quoted in the Independent Family Review report
In December, Coin Street Centre Trust was awarded the Gold Quality Mark by London Youth for our work with young people. Coin Street was assessed against a wide range of criteria including aims for young people, safeguarding, diversity and inclusion, health and safety, partnerships, leadership, and management.
_**It was really great to see how involved the young people are in programme evaluation. It is so important for youth organisations to have a clear evaluation toolkit that is consistent across all the programmes to ensure that the sessions being delivered and beneficial for the young people involved. We loved the girls only gym programme and that this was created because of feedback and understanding of the issues young women face today with their health and wellbeing, especially in a formal gym setting.”**_
## London Youth Quality Mark Assessor
As one of only 10 organisations to be awarded this Gold Quality Mark, we are proud of this achievement.
Coin Street Centre Trust for the year ended 31 March 2023
**28**
J•
IJ
Coin Street Centre Trust forthe year ended 31 March 2023
Trustees’ annual report
## Looking forward
This year has added the cost-of living crisis to an already serious set of long-term impacts, post-pandemic. Our work with children has revealed to us the developmental delays and impact of lost schooling; and our work with seniors tells us that existing health and social vulnerabilities have accelerated in this period. We have seen more need emerge and more demand for the support we offer.
In the wake of this challenge, we will continue to focus on what matters – bridging the generation gap, taking a whole family approach, and focusing on encouraging ground up action with plenty of opportunities for volunteering and connection.
This year we have put renewed emphasis on our outreach, organising workshops and stalls out in the neighbourhood throughout the year. We have undertaken a fundraising drive to ensure that as needs in our community increase, we have the resources needed to get alongside the most vulnerable. We will build on this progress across the coming year. Partnership continues to be essential, and we will look to strengthen and deepen the partnerships that underpin our projects and programmes.
Following a comprehensive board renewal process last year, we have enhanced our diversity and skills. Our board draws upon a diverse range of expertise, including finance, legal, leisure management, safeguarding, community development, volunteering, careers and education, youth work, and working with older people. The board is continuing to flesh out a 10-year strategy for the Trust, which will combine on the ground responsiveness with a longer-term investment mindset.
In the year ahead we expect further work on the development of the Doon Street leisure centre project.
Our partners, Coin Street Community Builders, have planning permission to create a new mixed development on the Doon Street site, which forms part of the Coin Street estate. These plans include the building of a public swimming pool and leisure centre, the costs of which will be funded by the housing development also included in the scheme. On completion the leisure centre will be leased to the Coin Street Centre Trust at peppercorn rent with the benefit of a substantial endowment to maintain the building.
As well as providing high quality facilities for the community, the Doon Street leisure centre has the potential to generate a reliable income stream to support the Trust’s activities into the future.
Further work is expected in the coming year to shape plans for these new community facilities, ahead of construction in the years ahead.
We expect another busy, challenging year ahead of us as we respond to the needs and opportunities of our community, and draw inspiration from a resource of talent, energy and partnerships across our neighbourhood which has proved so critical in our work last year and going forward.
Coin Street Centre Trust for the year ended 31 March 2023
**30**
Statement of responsibilities of the Trustees
The Trustees (who are also directors of Coin Street Centre Trust 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 (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 situation 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 these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently
- Observe the methods and principles in the Charities SORP
- Make judgements and estimates that are reasonable and prudent
- State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in operation
The Trustees are responsible for keeping adequate accounting records that 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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.
The opinion of the Trustees is that the company is entitled to the exemptions conferred by section 477 of the Companies Act 2006 relating to small companies.
The Trustees acknowledge the following responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime in so far as the Trustees are aware.
Members of the Charity guarantee to contribute an amount not exceeding £1 to the assets of the Charity in the event of winding up. The Trustees are members of the Charity, but this entitles them only to voting rights. The Trustees have no beneficial interest in the Charity.
## Independent examiner
Noelia Serrano was re-appointed as the charitable company’s independent examiner during the year and has expressed her willingness to continue in that capacity.
The Trustees’ annual report has been approved by the Trustees and signed on their behalf by:
Leonard Goodrich Chair
David Hopkins Secretary
Date: 11 December 2023
Coin Street Centre Trust for the year ended 31 March 2023
**31**
## Independent examiner’s report
## I report to the Trustees on my examination of the accounts of Coin Street Centre Trust for the year ended 31 March 2023.
This report is made solely to the Trustees as a body, in accordance with the Charities Act 2011. My examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Trustees as a body, for my examination, for this report, or for the opinions I have formed.
## Responsibilities and basis of report
As the Charity Trustees of the Company you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’)/Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011 (‘the 2011 Act’).
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accounts in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
2. The accounts do not accord with those records; or 3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or
4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities; or
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: Noelia Serrano
Sayer Vincent LLP Invicta House 108-114 Golden Lane London EC1Y 0TL
Date: 14 December 2023
Coin Street Centre Trust for the year ended 31 March 2023
**32**
Ji
Coin Street Centre Trust forthe year ended 31 March 2023
Statement of financial activities (incorporating an income and expenditure account) For the year ended 31 March 2023
|Note
Income from:
Donations
2
Charitable activities
Community activity
3
Interest
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure)
income for the year
5
Transfers between funds
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward|Unrestricted
£
236,972
6,925
439
244,336
290,576
290,576
(46,240)
-
(46,240)
322,845
276,605|Restricted
£
-
83,419
-
83,419
80,357
80,357
3,062
-
3,062
16,250
19,312|Total 2023
Unrestricted
£
£
236,972
280,189
90,344
5,596
439
26
327,755
285,811
370,933
253,463
370,933
253,463
(43,178)
32,348
-
(415)
(43,178)
31,933
339,095
290,912
295,917
322,845|Restricted
£
-
84,971
-
84,971
98,202
98,202
(13,231)
415
(12,816)
29,066
16,250|Total 2022
£
280,189
90,567
26
370,782
351,665
351,665
19,117
-
19,117
319,978
339,095|
|---|---|---|---|---|---|
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 13a to the financial statements.
Coin Street Centre Trust for the year ended 31 March 2023
**34**
## Balance sheet As at 31 March 2023
## Company no . 02095752
|Note
Fixed assets:
Tangible assets
9
Current assets:
Debtors
10
Cash at bank and in hand
Liabilities:
Creditors: amounts falling due within one year
11
Net current assets
Total net assets
The funds of the Charity:
13a
Restricted funds
Unrestricted funds:
Designated funds
General funds
Total unrestricted funds
Total Charity funds|£
8,275
258,028
266,303
(23,857)
209,159
67,446|2023
£
53,471
53,471
242,446
295,917
19,312
276,605
295,917|£
5,569
313,812
319,381
(33,532)
259,779
63,066|2022
£
53,246|
|---|---|---|---|---|
|||||53,246
285,849|
|||||339,095|
|||||16,250
322,845|
|||||339,095|
The opinion of the directors is that the company is entitled to the exemptions conferred by section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge the following responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
Approved by the Trustees signed on their behalf by
Leonard Goodrich Chair Date: 11 December 2023
David Hopkins Secretary
Coin Street Centre Trust for the year ended 31 March 2023
**35**
## Notes to the financial statements For the year ended 31 March 2023
## **1. Accounting policies**
## a) Statutory information
Coin Street Centre Trust is a charitable company limited by guarantee and is incorporated in England and Wales.
The registered office address is Coin Street neighbourhood centre, 108 Stamford Street, London, SE1 9NH and its operational address is Columbo Centre, 34-68 Colombo Street, London SE1 8DP.
## b) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) – (Charities SORP FRS 102), The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The directors have taken advantage of the small entity exemption as noted in FRS 102 section 1A. The financial statements have been prepared on the historical cost basis.
## c) Public benefit entity
The Charity meets the definition of a public benefit entity under FRS 102.
## d) Going concern
The trustees, have considered the impact of prevailing economic challenges and have reforecast and budgeted to March 2024, from this assessment the trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## e) 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 ‘capital’ grants or ‘revenue’ 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.
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 executor’s 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 treated as a contingent asset and disclosed if material. Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met.
## f) Donations of gifts, services and facilities
Donated professional services and donated facilities are recognised as income when the Charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the Charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102). Volunteer time is not recognised so refer to the Trustees’ Annual Report for more information about their contribution.
Coin Street Centre Trust for the year ended 31 March 2023
**36**
Notes to the financial statements For the year ended 31 March 2023
## **1. Accounting policies (continued)**
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.
## g) Fund accounting
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund.
Unrestricted funds are donations and other incoming resources received or generated for the charitable purposes.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.
## h) 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:
Expenditure on charitable activities includes the costs of community and youth activities undertaken to further the purposes of the Charity and their associated support costs.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## i) Allocation of support costs
Resources expended are allocated to the particular activity where the cost relates directly to that activity. However, the cost of overall direction and administration of each activity, comprising the salary and overhead costs of the central function, is apportioned on the following basis which are an estimate, based on staff time, of the amount attributable to each activity.
Where information about the aims, objectives and projects of the Charity is provided to potential beneficiaries, the costs associated with this publicity are allocated to charitable expenditure.
Support and governance costs are re-allocated to each of the activities based on direct costs.
Governance costs are the costs associated with the governance arrangements of the Charity. These costs are associated with constitutional and statutory requirements and include any costs associated with the strategic management of the Charity’s activities.
## 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.
Coin Street Centre Trust for the year ended 31 March 2023
**37**
## Notes to the financial statements For the year ended 31 March 2023
## **1. Accounting policies (continued)**
## 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.
## m) Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. Income from donations and legacies**
|Donations from CSCB (note 6)
Donations|Unrestricted
£
231,465
5,507
236,972|Restricted
£
-
-
-|Total 2023
Unrestricted
£
£
231,465
267,589
5,507
12,600
236,972
280,189|Restricted
£
-
-
-|Total 2022
£
267,589
12,600|
|---|---|---|---|---|---|
||||||280,189|
Coin Street Centre Trust for the year ended 31 March 2023
**38**
## Notes to the financial statements For the year ended 31 March 2023
## **3. Income from charitable activities**
|Unrestricted
£
Lambeth Council (Active Lambeth Fund)
-
Better Bankside (Community Micro-Grants)
-
Archbishops Park Community Trust
-
London Youth (Good for Girls Fund)
-
GLA (Young Londoners Fund)
-
Incredible Edible Lambeth
-
Jack Petchey Foundation (Leader Award Grant) -
Kate Portal
-
Lambeth Council Holiday Activity
-
Lambeth Council (Wellbeing Fund)
-
London Marathon Charitable Trust
-
London Sport (Tackling Inequalities Fund)
-
London Youth (Getting Active Fund)
-
The Mayors Fund for London (Kitchen Social) -
Metropolitan Public Gardens Association
-
The National Lottery (Awards for All)
-
Southwark Charities
-
Southwark Council Holiday Activity
-
Southwark Council (Youth and Play Grant)
-
Southwark Council
(Positive Future for Young People Fund)
-
St Olave’s Foundation Fund
-
United St Saviour's Charity
(Southwark Connected at Christmas Fund)
-
Walcot Foundation
-
Westminster School
-
King’s College London
(King’s Civic Challenge Award)
-
Earned income
6,925
Sundry income
-
Total income from charitable activities
6,925|Restricted
£
2,000
920
2,930
6,500
-
250
2,312
-
5,360
-
-
2,875
-
2,750
550
9,940
3,000
8,422
-
25,850
2,760
-
-
2,000
5,000
-
-
83,419|Total 2023
Unrestricted
£
£
2,000
-
920
-
2,930
-
6,500
-
-
-
250
-
2,312
-
-
-
5,360
-
-
-
-
-
2,875
-
-
-
2,750
-
550
-
9,940
-
3,000
-
8,422
-
-
-
25,850
-
2,760
-
-
-
-
-
2,000
-
5,000
-
6,925
4,646
-
950
90,344
5,596|Restricted
£
-
500
-
2,000
22,902
-
850
2,650
3,680
4,575
3,963
2,250
500
2,560
-
9,285
-
2,880
15,121
-
-
1,400
9,855
-
-
-
-
84,971|Total 2022
£
-
500
-
2,000
22,902
-
850
2,650
3,680
4,575
3,963
2,250
500
2,560
-
9,285
-
2,880
15,121
-
-
1,400
9,855
-
-
4,646
950|
|---|---|---|---|---|
|||||90,567|
Coin Street Centre Trust for the year ended 31 March 2023
**39**
## Notes to the financial statements For the year ended 31 March 2023
## **4a. Analysis of expenditure**
|Sessional workers
Activity Costs
Other direct costs
General ofice costs
Consultancy
Independent examiner's fee
Bank Charges|Charitable
activities
£
84,844
255,809
10,809
-
-
-
-
351,462|Support
Governance
costs
costs
£
£
-
-
-
-
3,174
3,388
3,946
-
-
1,892
-
5,940
1,131
-
8,251
11,220|Total 2023
£
84,844
255,809
17,371
3,946
1,892
5,940
1,131
370,933|Total 2022
£
59,750
257,266
17,674
3,724
7,392
5,384
475|
|---|---|---|---|---|
|||||351,665|
## **4b. Analysis of expenditure (prior year)**
|Sessional workers
Activity Costs
Other direct costs
General ofice costs
Consultancy
Independent examiner’s fee
Bank Charges|Charitable
activities
£
59,750
257,266
10,315
-
-
-
-
327,331|Support
costs
£
-
-
4,094
3,724
3,572
-
475
11,865|Governance
costs
£
-
-
3,265
-
3,820
5,384
-
12,469|Total 2022
£
59,750
257,266
17,674
3,724
7,392
5,384
475|
|---|---|---|---|---|
|||||351,665|
Coin Street Centre Trust for the year ended 31 March 2023
**40**
## Notes to the financial statements For the year ended 31 March 2023
## **5. Net income/(expenditure) income for the year**
|This is stated after charging:|||
|---|---|---|
||2023|2022|
||£|£|
|Independent Examiner’s Fee (excluding VAT):|||
|Independent Examination|3,200|2,900|
|Accounts preparation|1,750|1,600|
## **6. Related party transactions**
The Charity Trustees were not paid or received any other benefits from employment with the Charity in the year (2022: £nil). No charity Trustee received payment for professional or other services supplied to the Charity (2022: £nil).
No Trustee expenses were paid or reimbursed by the Charity in this or the previous financial year.
Coin Street Community Builders Limited (CSCB) is party to a number of transactions related to the Trust's Coin Street family and children's centre. During the year there were the following transactions between the two organisations:
||2023|2022|
|---|---|---|
||£|£|
|Gift in kind from CSCB to the Trust|231,465|207,589|
|Donations from CSCB to the Trust|-|60,000|
At the year end, the Trust owed £nil (2022: £nil) to Coin Street Community Builders Limited.
During the year, staff were provided by Coin Street Community Builders and not recharged to the Trust. The Trust does not itself employ any staff. This is recognised as a gift in kind of £231,465 (2022: £207,589).
There are no other donations from related parties which are outside the normal course of business and no restricted donations from related parties.
Coin Street Centre Trust for the year ended 31 March 2023
**41**
## Notes to the financial statements For the year ended 31 March 2023
## **7. Subsidiary charitable company**
On 7 December 2009, Colombo Street Community and Sports Centre registered as a company (number 01933656 and charity number 292623). Colombo is a subsidiary of the Trust. Colombo’s activity has not been consolidated in this set of accounts as the Trust has taken advantage of exemptions for small groups under the Companies Act 2006, a summary of its results is shown below:
|Total incoming resources
Resources expended
Net (expenditure) / income
Total funds at the beginning of the year
Total funds at the end of the year
A summary of Colombo’s Balance Sheet is shown below:
Fixed assets
Current assets
Creditors: amounts falling due within one year
Creditors: amounts falling due in more than one year
Net assets|2023
£
508,043
(570,912)
(62,869)
300,608
237,739
2023
£
122,329
209,481
(63,438)
(30,634)
237,739|2022
£
536,458
(507,637)
28,821
271,787
300,608
2022
£
103,379
289,094
(51,626)
(40,239)
300,608|
|---|---|---|
## **8. Taxation**
The Charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
Coin Street Centre Trust for the year ended 31 March 2023
**42**
## Notes to the financial statements For the year ended 31 March 2023
## **9. Tangible fixed assets**
|Assets under
cosntruction
£
Cost
At the start of the year
53,246
Additions in year
225
At the end of the year
53,471
Net book value
At the end of the year
53,471
At the start of the year
53,246|Total
£
53,246
225
53,471
53,471
53,246|
|---|---|
“Assets under construction” reflects professional design and planning fees in connection with the ongoing project to build a new leisure centre.
All of the above assets are used for charitable purposes.
## **10. Debtors**
|Trade debtors
Prepayments and accrued income|2023
£
1,856
6,419
8,275|2022
£
1,109
4,460
5,569|
|---|---|---|
## **11. Creditors: amounts falling due within one year**
|Trade creditors
Accruals|2023
£
17,667
6,190
23,857|2022
£
17,357
16,175
33,532|
|---|---|---|
Coin Street Centre Trust for the year ended 31 March 2023
**43**
## Notes to the financial statements For the year ended 31 March 2023
## **12a. Analysis of net assets between funds (current year)**
|**12a. Analysis of net assets between funds (current year)**||||
|---|---|---|---|
|General
unrestricted
£
Tangible fixed assets
-
Net current assets
67,446
Net assets at 31 March 2023
67,446
**12b. Analysis of net assets between funds (prior year)**
General
unrestricted
£
Tangible fixed assets
-
Net current assets
63,066
Net assets at 31 March 2022
63,066|Designated
£
53,471
155,688
209,159
Designated
£
53,246
206,533
259,779|Restricted
£
-
19,312
19,312
Restricted
£
-
16,250
16,250|Total funds
£
53,471
242,446|
||||295,917|
||||Total funds
£
53,246
285,849|
||||339,095|
Coin Street Centre Trust for the year ended 31 March 2023
**44**
## Notes to the financial statements For the year ended 31 March 2023
## **13a. Movements in funds (current year)**
|At 1 April
2022
£
Restricted funds:
Lambeth Council (Active Lambeth Fund)
-
Better Bankside (Community Micro-Grants)
-
Archbishops Park Community Trust
-
London Youth (Good for Girls Fund)
1,293
Incredible Edible Lambeth
-
Jack Petchey Foundation (Leader Award Grant)
-
King’s College London (King’s Civic Challenge Award)
-
Lambeth Council Holiday Activity
-
Lambeth Council (Wellbeing Fund)
1,186
London Sport (Tackling Inequalities Fund)
1,186
Metropolitan Public Gardens Association
-
The National Lottery (Awards for All)
5,097
Southwark Charities
-
Southwark Council Holiday Activity
-
Southwark Council (Positive Future for Young People Fund)
-
St Olave’s Foundation Fund
-
The Mayors Fund for London (Kitchen Social)
1,201
Walcot Foundation
6,287
Westminster School
-
Total restricted funds
16,250
Unrestricted funds:
Designated funds:
Future Development
96,748
Fixed Assets
53,246
Community sessions
109,785
Total designated funds
259,779
General funds
63,066
Total unrestricted funds
322,845
Total funds
339,095|Income
& gains
£
2,000
920
2,930
6,500
250
2,312
5,000
5,360
-
2,875
550
9,940
3,000
8,422
25,850
2,760
2,750
-
2,000
83,419
-
-
12,432
12,432
231,904
244,336
327,755|Expenditure
& losses
£
(2,000)
(920)
(2,930)
(7,793)
(189)
(1,212)
(5,000)
(5,360)
(1,186)
(3,436)
(550)
(5,097)
(470)
(7,366)
(25,850)
(760)
(1,951)
(6,287)
(2,000)
(80,357)
-
-
(63,052)
(63,052)
(227,524)
(290,576)
(370,933)|Transfers
At 31 March
2023
£
£
-
-
-
-
-
-
-
-
-
61
-
1,100
-
-
-
-
-
-
-
625
-
-
-
9,940
-
2,530
-
1,056
-
-
-
2,000
-
2,000
-
-
-
-
-
19,312
(225)
96,523
225
53,471
-
59,165
-
209,159
-
67,446
-
276,605
-
295,917|Transfers
At 31 March
2023
£
£
-
-
-
-
-
-
-
-
-
61
-
1,100
-
-
-
-
-
-
-
625
-
-
-
9,940
-
2,530
-
1,056
-
-
-
2,000
-
2,000
-
-
-
-
-
19,312
(225)
96,523
225
53,471
-
59,165
-
209,159
-
67,446
-
276,605
-
295,917|
|---|---|---|---|---|
|||||19,312|
|||||96,523
53,471
59,165|
|||||209,159|
|||||67,446|
|||||276,605|
|||||295,917|
The narrative to explain the purpose of each fund is given at the foot of the note below.
Coin Street Centre Trust for the year ended 31 March 2023
**45**
## Notes to the financial statements For the year ended 31 March 2023
## **13b. Movements in funds (prior year)**
|Restricted funds:
Better Bankside (Community Micro-Grants)
London Youth (Good for Girls Fund)
GLA (Young Londoners Fund)
Jack Petchey Foundation (Leader Award Grant)
Kate Portal
Lambeth Council Holiday Activity
Lambeth Council (Wellbeing Fund)
London Marathon Charitable Trust
London Sport (Tackling Inequalities Fund)
London Youth (Getting Active Fund)
National Lottery Community Fund
Peabody Young People’ s Fund
PriceWaterhouseCoopers LLP
Southwark Council Holiday Activity
Southwark Council (Youth and Play Grant)
The Mayors Fund for London (Kitchen Social)
Trinity Church
United St Saviour’s Charity
Walcot Foundation
Total restricted funds
Unrestricted funds:
Designated funds:
Future Development
Fixed Assets
Nursery operating costs
Community sessions
Total designated funds
General funds
Total unrestricted funds
Total funds|At 31 March
2020
£
-
-
8,003
1,362
-
-
-
-
-
6,489
214
7,550
2,504
-
-
1,258
1,686
-
-
29,066
101,428
48,566
-
49,785
199,779
91,133
290,912
319,978|Income
& gains
£
500
2,000
22,902
850
2,650
3,680
4,575
3,963
2,250
500
9,285
-
-
2,880
15,121
2,560
-
1,400
9,855
84,971
-
-
-
60,000
60,000
225,811
285,811
370,782|Expenditure
& losses
£
(500)
(707)
(30,905)
(2,212)
(3,065)
(3,680)
(3,389)
(3,963)
(1,064)
(6,989)
(4,402)
(7,550)
(2,504)
(2,880)
(15,121)
(2,617)
(1,686)
(1,400)
(3,568)
(98,202)
-
-
-
-
-
(253,463)
(253,463)
(351,665)|Transfers
£
-
-
-
-
415
-
-
-
-
-
-
-
-
-
-
-
-
-
-
415
(4,680)
4,680
-
-
-
(415)
(415)
-|At 31 March
2022
£
-
1,293
-
-
-
-
1,186
-
1,186
-
5,097
-
-
-
-
1,201
-
-
6,287|
|---|---|---|---|---|---|
||||||16,250|
||||||96,748
53,246
-
109,785|
||||||259,779|
||||||63,066|
||||||322,845|
||||||339,095|
Coin Street Centre Trust for the year ended 31 March 2023
**46**
Notes to the financial statements For the year ended 31 March 2023
## Purposes of restricted funds
## Lambeth Council (Active Lambeth Fund)
Grant to support the delivery of sports sessions for young people participating in Youth Night. The funding provided coaches to run a variety of sports and fitness activities including football and gym.
## Better Bankside (Community Micro-Grants)
Grant for an intergenerational community meal, with local young people preparing and running the event for older people and building connections in the community over the festive period. The funding provided staff to support young people, catering, and entertainment.
## Archbishops Park Community Trust
Coin Street and Archbishops Park Community Trust delivered the project in partnership, with funding from Lambeth Council Wellbeing Fund. Archbishops Park Community Trust is the grant holder. The funding provided 12 wellbeing workshops for older residents, including nature based creative sessions, as well as a tea party in the park.
## London Youth (Good for Girls Fund)
Grant to run a series of creative and wellbeing sessions for young women aged 10-14 years old. The funding provided wellbeing training for staff, as well as a social action project organised and ran by the young people.
## GLA (Young Londoner’s Fund)
Grant to deliver fitness, leadership, and enterprise sessions for young people in partnership with Oasis Hub Waterloo.
## Incredible Edible Lambeth
Joint grant for Coin Street and London Nautical School. The funding provided compost, fruit bushes, plants, and seeds for new garden area.
## Jack Petchey Foundation (Leader Award Grant)
Grant to train a group of staff, volunteers, and young people to coach football, so that more staff are available to meet demand, and young players are better supported, at Coin Street football sessions.
## King’s College London (King’s Civic Challenge Award)
Grant to research the health and wellbeing needs of local people post COVID-19. The research is part of a wider project to reimagine the Colombo Centre as a Wellbeing Hub.
## Kate Portal
The funding supported the running costs of Coin Street Community Singing Group, including staff pay.
## Lambeth Council Holiday Activity
Grant to deliver Easter and Summer Camps for children and young people aged 8-13 years old from Lambeth.
## Lambeth Council (Wellbeing Fund)
Grant to expand Coin Street’s Gentle Gardening sessions and involve pupils of the London Nautical School. The funding provided a Community Gardener and refreshments.
Coin Street Centre Trust for the year ended 31 March 2023
**47**
## Notes to the financial statements For the year ended 31 March 2023
## London Marathon Charitable Trust
Grant to run a series of Feel Good Saturday sessions, providing exercise for older people, and an important space for members of the group to remain connected to their community and talk about their experiences post COVID-19.
## London Sport (Tackling Inequalities Fund)
Grant to deliver a series of girls only fitness sessions in partnership with King’s College London. The funding helped to improve physical and mental wellbeing of girls and young women aged 11-18 years old, and increased confidence in undertaking fitness activities.
## London Youth (Getting Active Fund)
Grant to deliver sessions for young people to get them active after COVID-19. The funding provided a yoga instructor to run online classes, as well as a coach for in person football sessions.
## The Mayor’s Fund for London (Kitchen Social)
Grant to provide nourishing meals for children and young people during the Easter and summer holidays.
## Metropolitan Public Gardens Association
The funding contributed to enhancing the existing community gardening area of Bernie Spain Gardens. This included improved growing spaces made up of four new raised beds and compost.
## The National Lottery (Awards for All)
Grant to run a high-quality arts programme for over 50s, bringing older people in the community together through creativity at an important time post COVID-19. The funding provided an artist teacher trained in art therapy, art materials, and social trips to museums and galleries.
## Southwark Charities
Grant to run Coin Street’s weekly coffee mornings for seniors over the course of a year. The funding provided staffing, refreshments, activities, and entertainment.
## Southwark Council Holiday Activity
Grant to deliver Easter and summer camps for children and young people aged 8-13 years old from Southwark.
## Southwark Council (Youth and Play Grant)
Grant to support youth activities, including payment of youth workers.
## Southwark Council (Positive Future for Young People Fund)
Grant to deliver weekend football and provide gym access for local young people who are 14 years old and above, and currently do not engage in youth services.
## St Olave’s Foundation Fund
Grant to go towards weekly sessions for Young Leaders, which include discussions, consultation, planning and evaluation of Coin Street’s youth programmes. The funding provided refreshments and staffing and enabled the young people to organise and deliver community events across the year.
## United St Saviour's Charity (Southwark Connected at Christmas Fund)
Grant to organise and run a Christmas party for older people in the local community. The funding contributed to food costs for the celebration.
Coin Street Centre Trust for the year ended 31 March 2023
**48**
## Notes to the financial statements For the year ended 31 March 2023
## Walcot Foundation
Grant to better equip children and young people of Lambeth to succeed in their education through Coin Street’s Upgrade Yourself tutoring and mentoring programme.
## Westminster School
The funding supported the running costs of Coin Street’s Upgrade Yourself tutoring and mentoring programme, helping local young people succeed in their education.
## Purposes of designated funds
## Future development
To support design, business planning, legal and financial advice and all essential upstream costs associated with the development of the Doon Street swimming pool and leisure centre. This is a major project which will be funded by a £20m endowment once constructed and is expected to provide an ongoing, reliable source of income for the Trust for decades to come.
## Fixed assets
Assets held on the balance sheet by the Charity and will be depreciated over the life of asset.
## Nursery operating costs
To support the ongoing running of our community nursery.
## Community sessions
To support the ongoing running of our programme of community groups, activities and projects.
## Fund transfers
Transfers into restricted funds are to reflect the additional spend above the restricted income from unrestricted funds.
## **14. 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.
Coin Street Centre Trust for the year ended 31 March 2023
**49**
Coin Street Centre Trust forthe year ended 31 March 2023
Coin Street.
centre trust