COMPANY REGISTRATION NO: 2139909 (ENGLAND AND WALES)
## **THE SIDINGS COMMUNITY CENTRE**
**COMPANY LIMITED BY GUARANTEE**
## **FINANCIAL STATEMENTS**
## **31 MARCH 2021**
Charity Number 297095
## Goldwins Limited
Statutory Auditor Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG
**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT**
## **YEAR ENDED 31 MARCH 2021**
The trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and the unaudited financial statements of the charity for the year ended 31 March 2021
## **REFERENCE AND ADMINISTRATIVE DETAILS**
**Registered charity name** THE SIDINGS COMMUNITY CENTRE **Charity registration number** 297095 **Company registration number** 2139909 **Registered office** 150 Brassey Road Kilburn London NW6 2BA
## **THE TRUSTEES**
The trustees who served the charity during the period were as follows:
Edward Hanson - re-elected 14/12/20 – resigned 25/3/21) Elizabeth Pearson - (resigned 30/09/20) Lorna Russell - re-elected 14/12/20 Alina Valceanu - re-elected 14/12/20 resigned 25/3/21 Robert Kramer - (resigned 11/10/20) Marc da Silva - re-elected 14/12/20 Lynda Stuart - elected 14/12/20
**Secretary** Sue Measures **Bankers** National Westminster Bank Plc 127 Kilburn High Road London NW6 6JL **Auditor** Goldwins Statutory Auditor & Chartered Accountants 75 Maygrove Road West Hampstead London NW6 2EG
**1**
**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT** - **YEAR ENDED 31 MARCH 2021**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
Whilst the centre has lost some Trustees/Directors during the last 12 months, the Board has retained a strong core group who have worked through the many challenges posed by the COVID pandemic. During this very unusual year, Trustees have reviewed some of their governance procedures to ensure they operated within a transparent framework to reflect the principles as recommended in the Charity Commission’s Charity Governance Code.
The centre continues membership of NCVO (National Council for Voluntary Organisations) to access their wealth of training and governance tools. Trustees are (re)elected at the AGM, or co-opted during the year, in accordance with the Memorandum and Articles of Association. For those indicating an interest in becoming a Trustee, we request a personal statement summarising skills and reasons for taking up a position on the Board, ensuring they are fully aware of key responsibilities and commitments. When considering the election or co-option of trustees, the Board has regard for the diversity of skills needed, and that legal requirements under Charity and Company Law are met.
**ENSURING QUALITY AND COMPLIANCE:** Trustees are encouraged to attend appropriate external and/or internal training events where these will facilitate the undertaking of their role and awareness on key changes affecting the centre. The development of more online opportunities assists in this process for Charities. Familiarisation and updates on legal obligations takes place throughout the year and when needed. Trustees are kept up to date with centre activities and services through regular written reports and occasional presentations. We have a continued contract with Peninsula HR services to provide essential & qualified HR advice and support. Trustees are also invited and encouraged to attend Camden consultation events and to represent the centre at relevant forums, locally and borough-wide, which promotes understanding of how the centre links into the wider neighbourhood, plus Local Authority and national strategies. The Centre is committed to demonstrating external verification of quality in delivery of service, some of which is a legal requirement such as our Early Years Nursery which continues to retain its “good” Ofsted rating.
One outcome of the COVID pandemic is increased focus on digitalisation, and as the year progressed both staff and trustees started to consider how best to improve the collection, management and use of data across the organisation and ways to enhance our use of digital systems. As a Strategic Partner, this may include reporting on Camden’s new “Time to Spare” portal for profiling and service take up. There is increased emphasis on use of online communication and promotion, and Trustees will consider how to make best strategic use of resources to ensure use of our website and social media strengthens our online engagement with the community, the wider VCS and local businesses. Along with many VCS organisations, the disruption of the pandemic has brought the need to reconsider and rebuild Business Plans against a more uncertain future. As a consequence, the main focus had to be to undertake a more cautious “refresh and re-set” approach during the next 12 months as the longer term impact of the pandemic becomes clearer, within a strong regard for sustainability.
Financially the centre has also expanded its online “giving” opportunities, principally using JustGiving as the main platform for this. During the financial year this was mostly given over to the West Hampstead Community Food Hub for both one off donations and more regular ones. This has resulted in a total of £16,960 being raised to support the Food Hub in 20/21, and has ensured the Hub was able to provide for staple dry and fresh food during the height of the pandemic and beyond.
## **ORGANISATION**
The charity is organised so that the directors meet regularly to manage its affairs and are sent e-bulletins on key updates between meetings. There is one full time chief executive Ms S Measures (the Centre Manager), who manages the day-to-day administration of the charity and staff team, ensures the Trustees are fully informed of key changes in legislation and good practice, and advises on policy and strategic direction. The remaining staff are employed to run particular service areas or have specific administration or premises-related responsibilities.
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**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT** _**-**_ **YEAR ENDED 31 MARCH 2021**
## **RISK MANAGEMENT**
The Board is committed to adopting a pro-active approach to risk management, and at the start of the financial year 2020/21, risk management was obviously a key concern for Trustees when faced with abrupt cessation of “normal” centre life caused by the first lockdown in March 2020. The accounts for 2019/20 reflected a low level of unrestricted reserves and Trustees had adopted various risk management strategies to address this. This incorporated some known reductions in staffing costs due to happen in 2020/21 which would lower future risk levels, and create more options to review how the centre uses its resources within a sustainable operational framework. Ultimately, the temporary closures during 20/21 caused by the pandemic created a breathing space for these strategies to impact more favourably than expected on our finances.
Close monitoring of our budget throughout the year also ensured that risk was not only contained but significantly lowered. and by the end of the year, our financial reserves were restored to a more acceptable level.
The Centre always has careful regard for continuation of funding linked to continuum of service and commitments when considering overall risk. Fortunately, assurance of key funding continuation from Camden and other funders meant we were not faced with an immediate and drastic loss of funds whilst we temporarily transferred our operations to an online platform where possible.
Several other factors also contributed towards reducing risk levels during 20/21. The pressure of £31,700 rent imposed by Camden Council was removed by rent waivers during periods of lockdown, and additional Business Rates related support grants also helped mitigate against loss of income from rentals and other centre generated income. However, due to the level of continued commissioned and charitable funding, and continuation of on-site services deemed “essential”, the centre made only limited use of the furlough scheme.
Fortunately, the centre has been awarded £235,000 worth of S106 capital funding to make adjustments and improvements to centre premises. This will help future proof the premises reducing long term maintenance costs and help maximise revenue raising activity. Whilst this was paused during 2020, in Spring 21 Trustees and Staff resumed working with our architect to update our Feasibility Study with a view to begin implementing these works in 2022.
At the end of the financial year, Trustees are therefore happy to report that – despite the disruption of the pandemic – the financial position of the centre has been restored to a more positive balance and will take a pro-active approach to creating a sustainable Business Plan for the next 2-3 years.
## **PENSIONS POLICY:**
Sidings Community Centre offers a pension scheme that complies with automatic enrolment legislation. The pension scheme we offer is through ‘The Creative Pension Trust’. It is a centralised Master Trust pension scheme, approved by HMRC and regulated by The Pensions Regulator (TPR). Full details will be supplied to everyone eligible for the pension scheme by personal communication at the appropriate time.
## **OBJECTIVES AND ACTIVITIES**
Our aims are to promote the benefit to the residents of North Kilburn and wider neighbourhood (including West Hampstead and Fortune Green) without distinction of race, ethnic origin, sex, political, religious or other opinions, by associating local residents, local authorities, voluntary organisations and other local groups, in a common effort to advance educational, recreational, social and cultural opportunities, to improve the quality of life for all sections of the local community. These objectives are implemented by using the overall resources, services, and facilities of the Sidings Community Centre, as ultimately managed by the Board of Trustees, and by developing effective partnerships across all sectors to the benefit of the community at large.
Our mission statement is to "Working together to improve the Quality of life for local people" which we would aim to do in consultation and partnership with all users and partner agencies (private, voluntary and statutory).
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**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT** _**-**_ **YEAR ENDED 31 MARCH 2021**
Our Strategic Partner Core funding from LB Camden (£90,000 pa until end 2022) is given with specific emphasis in creating inclusive and accessible activities to help bring the community together and respond to disadvantage. The wider area of West Hampstead is quite polarised in terms of disadvantage and wellbeing. Significantly the 2 immediate neighbourhoods surrounding the centre qualify within Camden’s status of Lower Super Output Area, falling within the top 20% or 30% areas of deprivation (Indices of Deprivation 2019), and as low as 10% - 20% for the IDAC and IDOP indices. However, substantial large developments in close proximity to the centre, destined to happen during the next 2 years, will have a significant impact on the immediate area surrounding the centre. This must be factored into any future Business Planning as this will bring opportunities for much greater interaction with a significantly increased population.
## **PUBLIC BENEFIT**
We have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing our aims and objectives and in planning our future services. In particular, the board of trustees consider how our planned services will contribute to the aims and objectives they have set. The accounts and summary reports of the year’s activities, and various consultation exercises reflect that our services and activities have indeed contributed to improving the life chances and quality of life for people living within the wider neighbourhood. This includes raising funds to enable services to remain accessible and affordable to all (some are free), securing the centre as a hub for the community as a place to come together, socialise, participate in activities which improve the quality of life, be consulted about local matters, as well as having a sense of achievement, enjoyment and belonging.
## **FINANCIAL REVIEW 2020/21:**
The Statement of Financial Activities shows income for the year of **£442,576** (£398,966 in 19/20) and total expenditure of **£369,979** (£409,080 in 19/20) **.** Taking into account all accrued balances, the total reserves at the end of the March 2021 were **£129,475** (£56,878 for 19/20 **).**
## **Reserves**
The end of year overall reserves balance of **£129,475** shows a considerably higher level of reserves over those **of 19/20** ). The figure of unrestricted reserves of **£59,767** (£6,841 in 19/20), and **£69,708** (£50,037 in 19/20) restricted reserves, demonstrates that the centre made effective use of various Business Support grants during 20/21 and undertaken additional fundraising which – when enacted in combination with risk strategies identified in 19/20 – has restored our overall finances to a much healthier position. Trustees would like to record their thanks to the centre manager and all staff at the centre in assisting in this process.
The remaining restricted reserves include:
- £ **5,356** funds for youth-related grants, held by the Centre on behalf of the North Area Youth Partnership, of which Sidings is a key partner
- £ **11,660** BBC Children in Need Funding towards holiday activities for young people aged 11 – 16 years
- £ **26,771** of S106 funding towards capital and improvement work
- **£10,000** for Youth Safety Project
- **£1250** London Sports Funding
## **ACHIEVEMENTS AND PERFORMANCE**
Despite initial lockdowns, also acknowledges the benefit in 2020/21 from continued annual funding from the London Borough of Camden as detailed below:
|om the London Borough of Camden as detailed below:||
|---|---|
|Strategic Partner funding|**£90,000**|
|LBC- Integrated Youth Support Services|**£29,979**|
Adult & Community Learning for Computer/Digital Learning Centre **£7,480**
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**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT** _**-**_ **YEAR ENDED 31 MARCH 2021**
Other significant sources of income for our Early Years Services have come from government sourced funding for Nursery Education Funding for 3 & 4 yr. olds, and 2-yr-old free places, augmented by the new 30 hours free childcare offer for working families since Sept 17. Overall this brought in a combined total of **£161,548** (£167,653 19/20). Additionally, **£10,033** (£7,297 19/20) from Camden CLIF enabled our Early Years’ Service to continue its commitment to providing high quality support and childcare to young children with additional or special needs. In keeping with our commitment to providing services for young people we were pleased to have continued funding from Camden of **£29,979** to underpin our core youth services with assured funding until March 22. This has enabled our Youth Team to gain and use additional funding from other sources. This has included the last of 3 year instalments BBC Children-in-Need funding ( **£9,990)** and funding from Young Camden Foundation for digital provision **(£2,415)** for young people and art therapy activities **(£1,877)** during the pandemic. As restrictions began to ease at the end of the financial year, from April 21 we hope to be in a position to implement a Youth Safety Project using a residual **£10,000** grant from Camden Council and a small grant from London Sports of **£1,250** to promote physical activity for 11-16 yr olds.
Significantly, similar to many VCS organisations, the centre’s self-generated earned income plummeted from sources such as fees from activities and rentals, but as already reported on earlier, we were fortunate in being awarded **£40,285.86** in various Business Support Grants to help mitigate against such losses and ensure essential costs were met throughout the year despite closures imposed by the pandemic. We were also extremely grateful for a CIL grant of **£10,000** awarded by Fortune Green Councillors which helped make essential changes and adaptations to meet COVID safety requirements and extra costs in order to re-open some essential services in the summer of 2020.
## G **RANTS AND DONATIONS FROM TRUSTS AND INDIVIDUALS:**
The centre was pleased to attract specific funding to enable us to be a key community partner to respond to needs emerging out of the pandemic. Key to this was the creation of the new West Hampstead Community Food Hub, which the centre hosted from August 2020. Working in partnership with local Mutual Aid Volunteers, the centre was able to gain the following grants to enable the Food Hub to employ a development worker, buy food, support the team of volunteers and become a key partner within Camden’s Food Network to respond to local residents struggling to access food during the pandemic. Grants were secured from the following Trusts to help the Food Hub from September 20 – March 21:
||Edward Harvist Trust|**£10,500**|
|---|---|---|
||Camden Council|**£8,625**|
||London Community Emergency Response|**£10,000**|
||Hampstead Wells & Campden Trust|**£2,000**|
We were also pleased to act as a community partner to help Hampstead Wells & Campden distribute £1,000 worth of vouchers to families in need during the early part of the pandemic. In addition to grant funding, the Food Hub was also able to attract funding from a variety of well-wishers and donors via our Just Giving page totalling **£16,960** some of which was carried over to help sustain the food hub once the emergency grant funding stopped at the end of March 21.
The centre was also pleased to once again partner with Young Camden Foundation to provide a vital summer play scheme for young children aged 5-11 years. Funding of **£5,000** helped to provide free hot lunches and a programme of creative arts, sports and shared games which was so important for many children who had been stuck at home, isolated from their friends, during the summer term lockdown.
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**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
## **TRUSTEES ANNUAL REPORT** _**-**_ **YEAR ENDED 31 MARCH 2021**
## **END-OF-YEAR SUMMARY:**
Despite the many challenges thrown up by the COVID pandemic, the overall impact on the centre’s finances were to restore a much more positive financial position at the end of March 21. The temporary cessation of on-site services and “time-out” from our previously our normal programme, presented the centre with a financial breathing space to take advantages of staff leaving to make essential savings which would not normally have been possible. Additional funding opportunities not only enabled the centre to develop emergency response projects such as the important Food Hub but also helped to mitigate against losses. At the end of the financial year this has given Trustees and Staff the ability to consider forward options for developing a more sustainable operational model from a much better position than that of 12 months ago. This will be the major challenge during the coming year of 21/22, whilst ensuring reserves are maintained when resuming a fuller programme of activities.
## **FUTURE PLANS:**
Following on from the end of year summary, some key priorities must be to:
- Undertake a Strategjc Review to construct a new operational model which reflects the post COVID environment. This will require a careful look at future funding sources matched to current commitments and the replacement of some key staff
- Work with the centre’s architect to agree an updated feasibility study and draw down the £235,000 of S106 funding to start implementing the building improvements within a carefully planned schedule and potential adjustments to use of space within the centre
- Undertaking discussions with LB Camden to negotiate a realistic repayment of rent arrears – currently standing at £23,775
- Broaden our fundraising strategies and create a more structured annual programme of fundraising at all levels, with particular regard to attract and increase online donations.
- Develop a more multi-stranded marketing strategy, creating a more vibrant online presence and more engagement with the community and partners
- Continue to support and develop new initiatives such as the Food Hub and others such as a community garden
- Review use of overall resources to widen our community reach and extend our programme of activities, both on-site and off-site
- Continue to develop pro-active partnership working which in turn increases our potential for funding and new initiatives and strengthens knowledge of local and Borough-wide activity and initiatives
- Increase our relationship with businesses to encourage more corporate social responsibility opportunities and attract online giving to help fund certain activities
- Increase use of digital systems to help improve efficiency and use of data to better inform development of service and responding to changing needs
- Develop opportunities for volunteering both to volunteer and enhance personal skills
- Rebuilding our Board of Trustees to ensure it has a sufficient skills set to provide good quality and effective governance able to support the above priorities
**PARTNERSHIPS** : The centre is pleased to have continued as one of Camden Council’s local strategic partners with active relationships with their Community Partners Team. During the unravelling of the pandemic, we have also played an active role within Camden’s Food Network and more recently Camden’s Food Poverty Strategic Alliance. We also maintain very positive partnership working with Camden Adult & Community Learning, Camden Parks and Open Spaces and Integrated Early Years Teams. On-site we are pleased to host classes run by Working Men’s College in providing free accessible accredited employability and ESOL classes. We continue to benefit from membership of C4 – the Camden Consortium of Community Centres – which offers a supportive network for consultation and a co-ordinated strategic voice for community centres across Camden. There is a growing local neighbourhood network of partnerships including local Mutual Aid volunteers (who play a vital role in underpinning the Food Hub), neighbourhood TRA’s, local churches and some very supportive local Businesses. We are active members of the North Area Youth Partnership and Young Camden Foundation, and continue our association with the Mayors-fund-for-London’s “Kitchen Social” network.
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**THE SIDINGS COMMUNITY CENTRE COMPANY LIMITED BY GUARANTEE 2139909 REG CHARITY 297095**
**TRUSTEES ANNUAL REPORT** _**-**_ **YEAR ENDED 31 MARCH 2021**
## **RESPONSIBILITIES OF THE TRUSTEES**
The trustees (who are also directors of [name of charity] for the purposes of company law) are responsible for preparing the Trustees' Report (incorporating the directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company [and the group] and of the income and expenditure of the charitable [company/group] 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 judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company [and the group] and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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26 January 2022
##
|||Unrestricted|Restricted|||
|---|---|---|---|---|---|
|||Funds|Funds TotalFundsTotalFunds|||
|||2A2l|202t|2A27|
2020|
|||E|€ff|||
|lncomefrom:||||||
|Donations||17,920||t7,920|1,899|
|Charitable activities|3|55,795|368,745|424,540|376,287|
|lnvestmentincome|4|?5||25|83|
|Othertrading activities|5|91||91|20,697|
|Totalincome||73,831369,745||442,576|399,965|
|Expenditureon:||||||
|Charitable activities|6|20,905|349,A74|369,979|409,080|
|Total expenditure||20,905349,A74||359,979|409,090|
|Net {expenditure}lincome for the year|8|52,926 19,677||72,597|{10,114)|
|Transfer betweenfunds||||||
|Net movementsinfunds||52,926 Lg,67t||72,597|(10,114)|
|Reconciliationoffundsl||||||
|Total fundsbrought forward||6,841|50,037|56,979|66,992|
|Total fundscarriedforward|t4|59,767|69,708|129,475|56,878|
||||f||f|
|---|---|---|---|---|---|
|FIXEDASSETS||||||
|Tangibleassets|10||||:|
|CURRENTASSETS||||||
|Debtors|11|26,195||21,800||
|Cashatbankand inhand||1116,589||65,107||
|CREDITORS:Amounts fallingduewlthinoneyearLZ||{46,118}||{33,333}||
|NET CURRENT ASSETS|||126,566|||
|TOTALASSETSLESSCUflRENTLIABILITIfS|||129,475|||
|NETASSETS||||||
|FUNDS||||||
|Restrictedfunds|||||50,037|
|Unrestricted funds|i&,||5S,?#7||6,841|
|TOTAL FUNDS||||||
**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year Ended 31 March 2021**
## **1 Accounting policies**
## **a) Basis of preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102 - effective 1 January 2015) - (Charities SORP FRS 102) and the Companies Act 2006.
The charitable company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.
## **b) Going concern**
The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.
## **c) Income**
- Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.
Income from government and other grants, whether ‘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. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.
## **d) 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.
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.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
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**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year Ended 31 March 2021**
## **1 Accounting policies**
## **f) Fund accounting**
Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.
## **g) Expenditure and irrecoverable VAT**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
- Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose.
- Expenditure on charitable activities includes the costs of delivering services undertaken to further the purposes of the charity and their associated support costs.
- Other expenditure represents those items not falling into any other heading.
Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
## **h) Allocation of support costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity and its and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.
## **i) Operating leases**
Rental charges are charged on a straight line basis over the term of the lease.
## **j) Tangible fixed assets**
All fixed assets are initially recorded at cost. Items costing less than £1,000 each are not capitalised, but written off as expense. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures, fittings & equipment - 15% reducing balance
## **k) Debtors**
Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.
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**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year Ended 31 March 2021**
## **1 Accounting policies**
## **l) 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.
## **m) 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.
## **n) 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.
## **o) Pensions**
Please refer to trustees report for pensions' policy.
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**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
## **2 Detailed comparatives for the statement of financial activities**
|**Detailed comparatives for the statement of financial activities**||
|---|---|
|**Income from:**
Donations
Charitable activities
Investment income
Other trading activities
**Total income**
**Expenditure on:**
Charitable activities
**Total expenditure**
**Net income / (expenditure) for the year**
Transfer between funds
**Net movements in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**2020**
**2020**
**2020**
**£**
**£**
**£**
1,899
-
1,899
37,929
338,358
376,287
83
-
83
20,697
-
20,697|
||**60,608 338,358 398,966**|
||79,228
329,852
409,080|
||**79,228 329,852 409,080**|
||**(18,620) 8,506 (10,114)**
**-**
**-**
**-**|
||**(18,620) 8,506 (10,114)**
25,461
41,531
66,992|
||**6,841 50,037 56,878**|
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**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
**3 Income from charitable activities**
|Early years, Childcare & Parent support
General centre activities
Hampstead Wells & Campden Trust
LBC - Early Years - Special needs support
LBC Youth Safety Grant
BBC- Children In Need
Young Camden Foundation
LB Camden - ACL
LBC- Early Years (2 Yrs & 3/4 Yrs funding)
LB Camden - CIL Grant
Government Furlough Grants
LB Camden - Universal Youth Services Annual
LBC Strategic Partner Funding
London Community Response Grant
Edward Harvist Trust
LBC grant for WHC Food hub
Youth, Play and Sports Services
Business support grants
Small Grants LBC or VAC
Small Grants: Neighbourly Ltd (youth)
Small Grants: London Sports (Youth)
**Income from investments**
Bank interest receivable|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
10,508
-
10,508
16,805
-
16,805
171
-
171
625
-
625
-
3,000
3,000
-
8,858
8,858
-
10,033
10,033
-
7,297
7,297
-
-
-
-
10,000
10,000
-
9,990
9,990
-
9,990
9,990
-
9,292
9,292
-
4,500
4,500
-
7,480
7,480
-
14,960
14,960
-
161,548
161,548
-
167,653
167,653
-
10,000
10,000
-
-
-
-
7,160
7,160
-
-
-
-
29,979
29,979
-
23,850
23,850
-
90,000
90,000
-
90,000
90,000
-
10,000
10,000
-
-
-
-
10,500
10,500
-
-
-
-
8,625
8,625
-
-
-
4,830
-
4,830
20,499
-
20,499
40,286
40,286
-
-
-
-
1,250
1,250
-
400
400
-
-
-
-
738
738
-
-
-|
|---|---|
||**55,795**
**368,745**
**424,540**
**37,929**
**338,358**
**376,287**|
||**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
**25**
**-**
**25**
**83**
**-**
**83**|
**4 Income from investments**
**5 Income from other trading activities**
|**Income from other trading activities**||
|---|---|
|Room Lettings
Other centre activities|**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**Unrestricted**
**Funds**
**Restricted**
**Funds**
**Total Funds**
**2021**
**2021**
**2021**
**2020**
**2020**
**2020**
**£**
**£**
**£**
**£**
**£**
**£**
-
-
-
19,897
-
19,897
91
-
91
800
-
800|
||**91**
**-**
**91**
**20,697**
**-**
**20,697**|
19
**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
## **6 Analysis of expenditure**
|Advertising and publicity
Audit fee
Bank charges
Caretaker and cleaning
Depreciation
Direct charitable activites
Legal & Professional Fees
Light and heat
Office expenses
Rent & Business Rates
Repairs & maintenance
Security & insurance
Staff costs
Telephone
Water rates
Sundry
Support costs
Governance costs
**Total expenditure 2021**
**Total expenditure 2020**|**Charitable**
**activities**
**Support**
**costs**
**Governance**
**costs Total 2021 Total 2020**
**£**
**£**
**£**
**£**
**£**
216
-
-
216
481
-
-
4,300
4,300
4,000
-
660
-
660
691
-
12,743
-
12,743
1,978
-
496
-
496
583
24,749
-
-
24,749
23,749
-
9,624
-
9,624
9,582
-
7,042
-
7,042
7,330
-
3,905
-
3,905
2,528
-
17,200
-
17,200
36,412
-
149
-
149
902
-
5,145
-
5,145
7,736
277,157
-
-
277,157
308,274
-
1,876
-
1,876
2,466
-
1,696
-
1,696
2,368
-
3,021
-
3,021
-|
|---|---|
||**302,122**
**63,557**
**4,300**
**369,979**
**409,080**
63,557
(63,557)
-
-
4,300
-
(4,300)
-
**369,979**
**-**
**-**
**369,979**
**409,080**
-
-
**409,080**|
Of the total expenditure, £349,074 (2020: £329,852) was restricted and £20,905 (2020: £75,551) was unrestricted.
20
## **6a Analysis of expenditure(prior year)**
|Advertising and publicity
Audit fee
Bank charges
Caretaker and cleaning
Depreciation
Direct charitable activites
Legal & Professional Fees
Light and heat
Office expenses
Rent & Business Rates
Repairs & maintenance
Security & insurance
Staff costs
Telephone
Water rates
Support costs
Governance costs
**Total expenditure 2020**
**Total expenditure 2019**|**Charitable**
**activities**
**Support**
**costs**
**Governance**
**costs Total 2020 Total 2019**
**£**
**£**
**£**
**£**
**£**
126
355
-
481
853
-
-
4,000
4,000
4,000
-
691
-
691
693
-
1,978
-
1,978
3,056
-
583
-
583
686
23,749
-
-
23,749
38,343
-
9,582
-
9,582
8,616
-
7,330
-
7,330
5,504
-
2,528
-
2,528
7,184
-
36,412
-
36,412
36,310
-
902
-
902
796
-
7,736
-
7,736
4,794
308,274
-
-
308,274
331,120
-
2,466
-
2,466
2,387
-
2,368
-
2,368
1,624|
|---|---|
||**332,149**
**72,931**
**4,000**
**409,080**
**445,966**
72,931
(72,931)
-
-
4,000
-
(4,000)
-
**409,080**
**-**
**-**
**409,080**
**445,966**
-
-
**445,966**|
Of the total expenditure, £329,852 (2019: £355,123) was restricted and £75,551 (2019: £90,843) was unrestricted.
21
**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
## **7 NET INCOME/ (EXPENDITURE) FOR THE YEAR**
This is stated after charging:
|This is stated after charging:|||
|---|---|---|
||**2021**|**2020**|
||**£**|**£**|
|Depreciation|496|583|
|Auditors’ fees|4,000|4,000|
## **8 ANALYSIS OF STAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES, AND THE COST OF KEY MANAGEMENT PERSONNEL**
## **Total staff costs were as follows:**
|Wages and salaries
Social security costs
Employer`s pension contributions|**2021**
**2020**
**£**
**£**
260,559
284,597
12,962
19,473
3,636
4,204|
|---|---|
||**277,157**
**308,274**|
## **Particulars of employees:**
The average number of employees (head count based on number of staff employed) during the year was as 18 (2020: 18).
No employee received remuneration of more than £60,000 during the year (2020 – Nil).
The total employee benefits including pension contributions and Employer`s National insurance of the key management personnel were £39,040 (2020: £39,090).
The charity trustees were not paid or received any other benefits from employment with the Trust or its subsidiary in the year (2020: £nil) neither were they reimbursed expenses during the year (2020: £nil). No charity trustee received payment for professional or other services supplied to the charity (2020: £nil).
## **9 TAXATION**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
## **10 TANGIBLE FIXED ASSETS**
|**COST**
At the start of the year
Additions
At the end of the year
**DEPRECIATION**
At the start of the year
Charge for the year
At the end of the year
**NET BOOK VALUE**
**At the end of the year**
At the start of the year
**DEBTORS**
Rent receivable
Other debtors|**Fixtures,**
**fittings &**
**equipment**
**Total**
**£**
**£**
23,918
23,918
-
-|
|---|---|
||**23,918**
**23,918**|
||20,614
20,614
495
495|
||**21,109**
**21,109**|
|||
||**2,809**
**2,809**|
|||
||3,304
3,304|
||**2021**
**2020**
**£**
**£**
-
3,668
26,195
18,132|
||26,195
**21,800**|
## **11 DEBTORS**
22
**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
## **12 CREDITORS: Amounts falling due within one year**
|PAYE and social security
Accruals
Other Creditors|**2021**
**2020**
**£**
**£**
- 3,678
8,300 4,000
37,818 25,655|
|---|---|
||**46,118**
**33,333**|
## **13 ANALYSIS OF NET ASSETS BETWEEN FUNDS Year Ended 31 March 2021**
|**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**Year Ended 31 March 2021**||
|---|---|
|Tangible fixed assets
Net current assets
**Net assets at the end of the year**
**Year Ended 31 March 2020**
Tangible fixed assets
Net current assets
**Net assets at the end of the year**|**General**
**unrestricted**
**Designated**
**Restricted**
**Total funds**
**£**
**£**
**£**
**£**
2,809
-
-
2,809
56,958
-
69,708
126,666|
||**59,767**
**-**
**69,708**
**129,475**|
||**General**
**unrestricted**
**Designated**
**Restricted**
**Total funds**
**£**
**£**
**£**
**£**
3,304
-
-
3,304
2,537
1,000
50,037
53,574|
||**5,841**
**1,000**
**50,037**
**56,878**|
## **14 FUNDS (CONTINUED)**
**Year Ended 31 March 2021**
|Hampstead Wells & Campden Trust
LBC - Early Years - Special needs support
LBC - S106 Capital Works Grant
LBC Youth Safety Grant
BBC- Children In Need
Edward Harvist Trust
LBC grant for WHC Food hub
LBC- ACL (UK Online)
LBC- IYSS ( Youth Small Grants)
Small Grants: London Sports (Youth)
London Community Response Grant
LBC Strategic Partner Funding
LB Camden - Universal Youth Services Annual
Grant
LBC-Early Years (2 Yr old Free Places & NEF)
Young Camden Foundation
Premises LBC CIL Grant
Government Furlough Grants
London Youth (Sports)
Small Grants: Neighbourly Ltd (youth)
**Designated Fund – EYS Equipment**
**Designated Fund – Organistational**
**Development**
**General Funds**
**Total Unrestricted Funds**
**Total Funds**|**At the start of**
**the year**
**Incoming**
**resources**
**Outgoing**
**resources**
**Transfer**
**between**
**funds**
**At the end of**
**the year**
**£**
**£**
**£**
**£**
**£**
- 3,000 (1,000)
**- 2,000**
- 10,033 (10,033)
**-**
**-**
26,771
-
-
**- 26,771**
10,000
-
-
**- 10,000**
6,660 9,990 (4,990)
**- 11,660**
-
10,500
(10,500)
**-**
**-**
-
8,625
(8,625)
**-**
**-**
- 7,480 (7,480)
**-**
**-**
5,356
-
-
**- 5,356**
- 738
-
**- 738**
10,000 (10,000)
**-**
**-**
- 90,000 (90,000)
**-**
**-**
-
29,979 (26,181)
**- 3,798**
-
161,548 (153,413)
**- 8,135**
-
9,292 (9,292)
**-**
**-**
- 10,000 (10,000)
**-**
**-**
- 7,160 (7,160)
**-**
**-**
1,250
-
-
**- 1,250**
- 400(400)
**-**
**-**|
|---|---|
||**50,037 368,745(349,074)**
**- 69,708**|
||**-**
**- -**
**-**
**1,000 - - - 1,000**
**5,841 73,831 (20,905) - 58,767**|
||**6,841 73,831(20,905) - 59,767**|
|||
||**56,878 442,576 (369,979) - 129,475**|
23
**The Sidings Community Centre (Company Limited By Guarantee) Notes to the Financial Statements Year ended 31 March 2021**
## **14 FUNDS (CONTINUED)**
**Year Ended 31 March 2020**
|Hampstead Wells & Campden Trust
John Lyons Charity
LBC - S106 Capital Works Grant
LBC Youth Safety Grant
LBC Youth Club Annual Grant
BBC- Children In Need
LBC- ACL (UK Online)
LBC- IYSS ( Youth Small Grants)
LBC VCS - SPF
LBC Early Years & SS
LBC-Early Years (2 Yr old Free Places & NEF)
YCF Play Service
London Youth (Sports)
Designated Fund – Organistational Development
General Funds
**Total Unrestricted Funds**
**Total Funds**|**At the start of**
**the year**
**Incoming**
**resources**
**Outgoing**
**resources**
**Transfer**
**between**
**funds**
**At the end of**
**the year**
**£**
**£**
**£**
**£**
**£**
- 8,858 (8,858)
**- -**
1,314
- (1,314)
**- -**
26,771
-
-
- **26,771**
-
10000
-
- **10,000**
- 23,850 (23,850) **- -**
6,660
9990 (9,990)
**6,660**
-
14960 (14,960)
**- -**
6,786
0 (1,430)
**- 5,356**
-
90000 (90,000) **- -**
-
7297 (7,297)
**- -**
-
167653 (167,653)
**- -**
- 4,500 (4,500)
**- -**
- 1,250
-
**- 1,250**|
|---|---|
||**41,531 338,358(329,852) - 50,037**|
||1,000 - - - 1,000
24,461 60,608 (79,228) - 5,841|
||**25,461 60,608(79,228) - 6,841**|
|||
||**66,992 398,966 (409,080) - 56,878**|
## **15 RELATED PARTY TRANSACTIONS**
Sidings Community Centre is a member of the “Real Resources” a charity registered in England &Wales. (Reg. Charity No 1100716). There are no related party transactions to disclose for 2021 (2020: none).
## **16 LEGAL STATUS OF THE CHARITY**
The charity is a company limited by guarantee and has no share capital. Each member is liable to contribute a sum not exceeding £1 in the event of the charity being wound up.
24