ANNUAL REPORT 2024/25 Covering period April 2024 to March 2025 PRIMROSE HILL COMMUNITY ASSOCIATION
Primrose Hill Community Association 29 HopkinsO'S Place London, NWI 8TN CONrfUNITY "ASSOCIATION PHCAAnnual General Meeting Thursday. 16 October 2025 - 7pm Agenda i. Apologies 2. Minutes of previous AGM and Matters Arising 3. Reports PHCA Presentation PHCA Treasurer's Report PHCLPresentation PHCL Treasurer's Report 4. Votes Adoption of Annual Report incorporating PHCA and PHCL FinanceReports Appointment of Accountants (Groman & Co) 5. A.O.B TEL 020-7586 8327 FAX 020-7586 0043 Registered Numbpr 2196012 Charity Number 298215 Email= info@phca.cc www.phca.¢c
Ivlinutes of Primrose Hill Community Association {PHCA) Annual General Meeting held online on Thursday 17 October 2024 (covering periodApr 2023- March 20241 1. Apologies.. Anthony Imlls, Juliet Wrightson, Judy Cunnington, Linè Cooper, Nikki Hadyn, Jim Mulligan. 2. AGM 2023 Mlnutes Held on 16 November 2023 were approved ladopted Nadia Crandall, seconded John Nutt} 3. PHCA and PHCL Reports Marijke Good IPHCA & PHCL Chair) welcomed everyone and passed over to Michael Hudspeth IPHCA CEO) who gave an overview of PHCA events and activities. He also brought in people lo talk about various aclivilies, Open House (Tracey Mitchell), Neighbourhood Noshlwellbeing Café IDoro Marden), Mernory Singing Circle (Martin Nelson) and MH spoke more about On the Hill magazine. Nadia Crandall {PHCA Treasureil reported on Community Centre finances, informing the meeting that the organis81ion was in a robust position. Marijke Good (Library Chairl rèported on the library and all the other activities and events that have taken place as well as the core library services. LLJCY Collrell (Library Treasurer), gave an overview of library fInanS reporting that the Library finances are in good shape. Adoption of Annual Report Inc PHCA and PHCL finance reports. {adopted'. Maureen Betts Sonded.. Doro Marden) Appointment of Groman & Co as AccountantslAuditors Groman and Co were appointed as aecounlanls lo PHCA (adopted.. Rosemary Emanuel Seconded.. Martin Shepherd) 6. Electlon of trusteas. Elizabeth Middleton, Oebbie Marshall, Kate D21y were all elected on a three year term last year so do not need re*lecting. Marijke Good, Nadia Crandall, Lucy Cottrell, Maureen Betls ended their three.year term bul are eligible to sland for another three year lerrr 3nd as such needed voting in. Election of four Iruslees {proposed'. Eleanor Sturdy, Seconded.. Caroline Coc'perl. 7. Election of Chair. MH explained there had been one nomination for Chair, Martjke Good, who was voted in by the trustees. 8. Thanks Marijke thanked PHCA staff, trustees and volunteers, councillors, donors and supporters. 8. Motlons from the floor None 9. A.0. None Marljke declared the mgetlng over and welcomed Alex Younger as speaker.
Primrose Hill Community Association Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Dlrectovs Roport) Year ended 31 March 2025 The Iruslees, who are also the directors for the purposes of company law, present their report and the unaudited financi81 statèments of the charity for the yeai ended 31 March 2025. Refèrence and administrative details Registered charlty name Primrose Hill Communtty Association Charty r8gistration number Company reglstration number 02196012 298215 Prtncipal office and registered 29 Hopkinsons Place office Fitzroy Road London NWI 8TN The trustees Marijke Good {chairl Maureen Betts (Vice ¢hairl Nadia Crandall (Treasurer) Lucilla Mary Cottrel Debbia Marshall Elizabeth Middleton Company secretsry Lorna Fowler Independent examlner Al Groman FCA 5 Violet Hill st. John's Wood London NW8 gEB
Primrose Hill Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) IcontNnued) Year ended 31 March 2025 Structuray govemance and managem&nt Governlng Do¢ument The charity is constituted as a cornpany limited by guarantee and is therefore governed by a Memorandum and Articles of Association. d¥led 19 November 1987 and also registered with the Charity Commissioners. Appointment, induction & trdinlng of Trustees All members are circulated with invitations lo nominate trustees prior to the AGM advising them of the retiring Iruslees 2nd requesting nominations for the AGM. When considering Co-opting Iruslees, the Board has regard to the requirement for any specialist skills needed. New Iruslees undergo an orien181ion day to brief them on their legal obligations under charf(y and company law. the conlenl of the Memorandum and Articles of Association, the Committee and decision making processes, the business plan and re¢enl financial performance of the Charity. During the induction day they meet key employees and other Irustaes. Trustees are encouraged to attend appropriate external Iiaining events where these will facil((ate the undertaking of their Tole. Organlsatlon The charity is organised so that the dlreclors meet regulady lo manage its affairs. There is one full time executwe, M Hudspelh, who both manages the day lo day administration of the charty and organises fundraising inilialives. The remaining staff are employed lo tun particular service sections orwilh specific administration or building iesponsibilities. Rlsk management The trustees regularfy discuss the risks the charity may fa, and when potential risks are identified systems and procedures to mitigate those risks are pul in p18ce. together with the implemenlalion of procedures designed lo minimise any potential impact on thè charity should those risks matenalise. Objectives and activities The Gharity's object and ils principal activity continue lo be that of promoting the benefit of those persons lTriing and working in that part of the London Borough of Camden which lies within a half mile radius of the Cenlre. The Iruslees have referred to the guidan contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future setvices. In particular the board of trustees consider how our plannèd ServIS will contribute to the aims and objectives they have sel. Strateglc report The following sections for achievements and performan and financial review form the strategic report of the charity.
Primrose Hill Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directovs Report) (continued) Year ended 31 March 2025 Achievements and p8rformanc8 Our 'Op8n House, project which aims lo bring people together by putting on a different a¢tivity each week, alw2ys followed by lea, cake and socialising, celebrated rf(s tweltth anniversary. The co-ordinator Tracey Mtt¢hell has been with us from the start and continues lo produce innovative programmes. Another of our projects which reached a similar landmark w8s our Life Drawing class, ever popular and wonderfully administered throughout that lime by local artist Sophie Levi. The third of our 10 plus anniversaries belong lo 'On the Hill, magazine, which we are very proud of, produced by our extremely capable volunteers under the leadership of brilliant editor hAaggie Chambers. Regarding longevity, Narcotics Anonymous have been meeting twce a week al Primrose Hill Community Centre for 39 years Ilhe longest run of meetings at the same venue in the history of the organisalion in the UK). Our Events team continues to put on a lot of community events, including the ever-popular Jumble Sale which recycles a lol of local items, our November and March discos, always so popular thanks to our pro-bono DJ Jason Pittock. The Quiz in May is another event which ahvays sells out with the help of quizmasters Debbie and Nick. The 2nnual Summei Garden Paty is a real community event using an army of volunteers to help organise and run it. Catherine Kelly. one of those amazing volunteers, beautullY organises 811 the local bands and artists that perform on the day. The Burns night in January is another popular traditional event. OurAGM went particularly well thanks lo the high C811b of invited guest speakerAlex Younger. We held sever81 topical talks over the year and al Chrislrnas we put on a seasonal event for our volunteers and members. Other regular free or nominal cost activities that happen al the community centre are Zumba Gold, Chair Yoga. Sadie Yoga. Qi Gong, Art for the Mind, Drama workshops We have a new employee al the communty centre and library, Cheuk Vvai Lee, who is doing a splendid job and is loved by all. The Community Centre became a polling ststion twi, once for the mayoral elections and once for the general election. One of our newer events, the Memory Singing Circle, started out with 2 or 3 users and now boasts almost 40. Circle leader Martin Nelson mixes things up using shanties and rounds as well as popular classic songs and is very much an interactive experience. The Naighbourhood Nosh project offers a free market for essentials like fruit, vegetables. bread elc, s Wellbeing Café with basic nutritious food on a pay what you can basis, and three Gourse meal deliveries into the community. The library continues to thrive and is open four days a week for book loans, printing, computer use, newsp8pers, quiet space, whilst also hosting several author talks, a book club, chess Glub, games night, live gigs, film shows, book and cake sales and various community ¢lasses. For younger children there is ballet and rhyme tirne.
Primrose Hill Community Association Company Llmlted by Guarantee Trusteès. Annual Report (Incorporatlng the Dlrector's Report) {¢oJ7tlnuerlJ Year ended 31 March 2025 Financi81 rèview The Association, in this context the comblnalion of the Community Centr8 and thg Library, made surplus of £51,771 (2024.. £89,831) in the financial year. April 2024 to March 2025. This is the combined result of the Community Centré and the Library. In practice the ftjnding and Accounts of the two organlsations are kept separate. The Manag6m&nl A¢¢ounts ofthfy CommunityAssocialion aTrd the Library 8r8 attached as a key element in th$ Trustees Report. There ar8 r&ports from both Treasurers attached to Ihelr separats Management Accounts. {See Appendlces11 and1111 Plans for future perlods In the colder weather we w411 continue to provide a wami welcoming spa¢e, through our G3fé and communfty activities. The library snd ¢ommunlly cgnlre will Continue to provide free or low-prica activities, classes and services for the benefit of people in the ¢ommunity. We will continue lo engag across the neighbourhood through our various communication Ghannals like 'On the Hill. magazine. soc181 media, newslattèrs 8nd hard copy posters across the area. The truste&s' annual report and the slrateglc report were approved on . I C4 on beha o e board of trustees by.. Marllke Good {Chalrl Trustee
Primrose Hill Community Association Company Limlted by Guarantee Independent Examiner's Report to the Trustees of Primrose Hill Communlty Association Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of Primrose Hill Communty Asso¢i8tion I'the charily'l for the year ended 31 March 2025. Responsibllltles and basis of report As the Iruslees of the company land also ils dire¢tors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of tha Companies Act 20061'lhe 2006 Acl'l. Hawng satisfied myself that the accounts of the company are not required lo be 8tJdiled under Part 16 of the 2006 Act 8nd are eligible for independent examination, I report in respect of rny examination of the charity's accounts 8s carried out under section 145 of the Charities Act 2011 {'Ihe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(51{bl of the 2011 Act. Independent examlnerfs statgment Since the charity's gross income exceeded £250,000 your ex8miner must be a member of a body listed in se¢lion 145 of the 2011 Act. I confirm that l am qualified lo undertake the examination becausè l am a member of the Institute of Chartered Accounlanls in England and Wales {ICAEW, which is one of the listed bodies. I have completed my examinstion. I wnfirm that no matters have come to my attention in connection with the exatninalion giving me Cause lo believe-. accounting rewrds were not kept in respect of the charrf£y as required by sedDn 386 of tho 2006 Ad., or the financial statements do not a¢¢ord wth those records., or the financial statements do not comply with th& accounting requirements of section 396 of tha 2006 Act other than any requirement that the accounts give 2 '1rue and fair, vi&w which is not a matter Considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods 8nd principles of the Slalemenl of Recommended Practice for accounting 8nd reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 2nd Republic of Ireland (FRS 1021. I havé no concerns and have come aGfoss no other matters in connection with the examination lo which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Al Groman FCA Independent Examiner 5 Violet Hill Sl. John's Wood London NW8 9EB
Primrose Hill Community Association Management Accounts 31 March 2025 APPENDIX11
Primrose Hill Community Association Management Accounts Company Limited by Guarantee Trustee's Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 FINANCIAL REVIEW This financial review relates lo the activities and resource8 of the Primrose Hill Community Association, excluding thè library. Charges for services between the two are eliminated in the Gonsolidated slalements to avoid double counting. The Cornmunity Association has enjoyed another successful year, with a solid increase in nel incomè despite continuing inflationary pressures. We have also developed several new initiatives. Financial results for the year ending 31 March 2025 reflect a robust level of activity. Total income for the yesr was almost £207.000. ¢omp8réd to £196,000 for 2023-2024. This increase is primarily accounted for by more grant income and a doubling in inGome from bank interest. Al the same time, expenses de¢lined from £181,000 10 £177.000 with the main contributor being a lower Cost for repairs and maintenance. Staffing levels remained the same with costs for the Wellbeing Café and Neighbourhood Nosh laryely covered by grants and donations. Activities continued lo be well supported, benefrtting from community engagement and the help of many local businesses and enthusiastic volunteers. We were sold out for our hugely popular Top of the Hill quizzes, our discos, our January 25 Burns Night, and our annual Book Festival. There were many parties throughout the year, including summer parties in Chalcol Square, a Christmas paty, and a 10th anniversary paty to celèbrate thè continued suc¢ess of On the Hill. There were two sold OLJI talks on HS2 and on Artists and their Studios, as well as our monthly film group and Sunday bar. Qi Gong and Chair YogalPilales remain very popular. In addition, we trialled several new offerings, including Singing for the Brain, Art for the Mind and a group for eating disorders. Neighbourhood Nosh continues lo support people in food crisis, and the Wellbeing Café remains open every Wednesday lunchtirné. The nursery at the Cenlre. continued ils operations throughout the year. 'On the Hill,, the free local magazine, continued its dual print and online presence with an extremely successful Christmas 2024 and Spring 2025 print edition. It continues to attract strong interest from local advertisers and is mostly self-supporting though the Association makes a small contribution lo each print edition in recognition of ils value to the Primrose Hill community. In summary, the Association made a surplus on the year of £29,300. Nel assets amount lo £551,000. of which £346,000 is in cash or short-term receivables, and the balance is in the building lease, new kitchen and other minor improvements, which will depreciate over approximately 20 years and 10 years respectively. The trustee's annual report and the strategic report were approved on on behalf of the board of trustees by.. and signed
Primrose Hill Community Association Management Accounts Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Unrestrl¢ted Restricted funds funds Totsl funds Total funds 2024 Nots Income and endowments Donations and legacies Investment income Other income 36,157 10,593 139,330 36,157 10,593 159,873 30,412 5,180 160,264 20,543 Total income 186,080 20.543 206.623 195,856 Expenditure Expendrfture on raising funds-. Costs of raising donalK)ns and legacie5 Expenditure on charitable activities Total expenditure 10,603 142,027 6,005 18,627 24,632 16.608 160,654 177,262 18,402 162,795 152,630 181,197 Net income and net movement in funds 33.450 14.0891 29,361 14,659 Reconcillation of funds Total funds brought forward Total funds carried forward 494,563 27,042 521,605 506,946 528.013 22.953 550,966 521,605 The statement of finan¢i81 activities includes 311 gains and losses recognised in the year. l income and expenditure derive from ¢ontinuing aGtivilies. Th8 not88 on pages 4 to 9 form part of th8se tinancial statsments.
Primrose Hill Community Association Management Accounts Company Llmlted by Guarantee statement of Financlal Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets 13 204,830 216,434 Current assets Debtors Cash at bank and in hand 14 16.613 362.398 16,121 317,370 379,009 333,491 Credltors.. amounts falllng duo withln one year Not current assets 15 32,873 28,320 348,136 305,171 521,605 Total asset5 less current Ilabllltles 550.966 Net assets 660,966 521,605 Funds of the charrty Reslricled funds Unrestricted funds 22,953 528,013 550.966 27,042 494,563 Total charity funds 17 521.605 The notes on page$ 4 to 9 form part of th85e flnaneial statements.
Primrose Hill Community Library Management Accounts 31 March 2025 APPENDIX111
Primrose Hill Community Library Management Accounts Company Llmited by Guarantee statement of Financial Activities (including income and expendIture account) Year ended 31 March 2025 LIBRARY BUSINESS MODEL PHCL always runs an operational deficit. The Library today has annu21 running costs of just over £1 OOK lup from the ca. £75K costs when we re-opened as a Community Library in 20121. Even after 14 years, and substantial inflation in the meantime, we are still well below the £157K running costs p.a. incurred when it was Council-run. Our main costs are employees (two part-time stsff) 8nd property (including rates, energy and cleaning costs). These together represent three quarters of our annual cash Costs. How do we finan these costs eaeh year? Part of the ¢osl can be covered by room lettings on Tuesday, Thursdays and Sundays. the days on which the Library is closed. We also generate income from events, book sales and the Film Club. We pmjecl that this 'Library-Gen&tsled Incom8, will generate £40K- 50K each year. That still leaves a hole of up lo £60K each year- what we call the op8Trtional dsficil. This deficit has to be covered by monies raised each year from donations, grants and investmenuinterest income. From day one, the Library Board fell it was ¢Tucial lo have the building open as a library for as much time ss possible, increasing operjing hours versus when il was Council-run. This limits the lime when the Library is closed and when we can generate Lellings Income. We have also deliberately tried to keep room and event rates affordable to local groups, businesses and residents. We are proud that we have so far managed every year to find the grants and donations to close the gap and deliver surpluses. thanks lo the generosity of our supporters. Bul we cannot ¢ounl on this long term, espe¢ialSy as Camden Council has already signrficanlly reduced their support in the last three years. The current financial resources give us comfort forlhe next few years. However, as per our original plan, long term we hope lo build our financial resources up lo the point that interest and investment income will cover much of that running cost deficit each year. We are roughly 30°/o of the way to that long-lemi goal. This is the road map to PHCL'S financial suslainabilily. The notes on pages 5 to 10 fomi part of the88 financial stat6ments.
Primrose Hill Community Library Management Accounts Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 OPERATIONAL RESULTS FOR 2024-25 Total Income for the year was £147K. Stripping out Deferred Income re the lease, income was £136K. brary-GeneTrted Income was £42K, down on the £50K of the previous year. Inv8Stmsnl Income & Barjk Interest was £26K lallhough partially offset by capital losses of £7TrQ. This income stream covers roughly 300A of the annual operating deficit.11 is well up year on year. Grants & Donations InGome was £69K, well down on the previous year, rnain as Camden Council cut ils support to the Library by 55 /0 versus last year. Grants include £5k from Crerller Housing Association for a specific project. However. the good news is the Council Camden CIL grant amount is expected to rise again in the current financial year. Tol81 Costs for the year were £118K. If we exclude £11 K of amortisation, and the costs funded by the Cremer Grant of £5K for work on the Children's Librdry, then Running Costs were £102K. When we look at thg financial challengè each year. we have to run fast to stand still i.a the Operatlonal Deficit was £60K1£102K Running Costs mlnus £42K Library Generated Income). So, while Charity Funds were £854K al year end, we will need every penny of that, and more, to sustsin the library long-lemi. We should not be complacent. CONCLUSION The library delivers an excellent servi, providing a warm and welcoming place for readers and others. With 5,639 members lat the lime of writing), the community clearly appreciates this. We only slay open thanks to the generosity of volunteers and donors. and the excellent work of our staff. The notes on pag85 5 to 10 fomi part of these financial statements.
Primrose Hill Community Library Management Accounts Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Total funds Not• Income and endowments Donations, legacies 8nd grants Investment income Other income 79,920 25,551 41,808 79,920 25,551 41,608 115,147 14,881 50,060 Total Income 147,079 147,079 180,088 Expenditure Expenditure on charitable activities Total expenditure 117,897 117.897 116,266 117.897 117.897 116,266 Net Income 29,182 29,182 63,822 other re¢ognised gains and losses {Lossesllgains from revaluation of fixed assets Net movement in funds {6,7721 22,410 {6,7721 22,410 75,172 Reconciliation of funds Total funds brought forwatd Total funds carri8d forward 831.740 831,740 854,150 756,568 831,740 854,150 The stslemenl of financial 2Ctivf(ies includes all gains and losses recognised in the year. All in¢om8 and 6xpendilure derive from Continuing activities. The note8 on pages 5 lo 10 forni part of these financial 5tatern6nts.
Primrose Hill Community Library Management Accounts Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Not8 Fixed assets Tangible fixed assets 12 78.613 89,844 Current assets Debtors Investments Cash 81 bank 8nd in hand 13 14 33 507.835 351.641 346,357 488,022 834,379 859,509 Creditors- amounts falling due within one year Net current assets 15 83.972 92,483 775,537 854.150 741,896 831.740 Total assets less current liabilities Net assets 854,150 831,740 Funds of the charity Reslricled income funds.. Revaluation reserve Other restricted income funds 6,T121 860,922 26,341 80S,399 Total charity funds 18 854,150 831,740 For the year ending 31 March 2025 the charity was entitled lo exemption from audit under section 477 of the Corllpanies Act 2006 relating lo small companies. Director's responsibilities-. The members have not required the company lo obtain an audit of ils financial statements for the year in question in accordance with section 478", The director acknowledges his responsibilities for complying with the requirements of the Act with respect lo accounting records and the prepamlion of financial statements. These financial stalemènls have been prepared in accordance with the provisions applicable lo companies subject to the small Gompanies, regime. These financial statements were approved by the board of trustees and aulhorised for issue on and are signed on behalf of the board by-. The notes on pages 5 to qo forni part of these ftnanclal 8tataments.
COMPANY REGISTRATION NUMBER: 02196012 CHARITY REGISTRATION NUMBER: 298215 Primrose Hill Community Association Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 GROMAN & COMPANY Chartered Accountants 5 Violet Hill St. John's Wood London NW8 9EB
Primrose Hill Community Association Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating Ihe director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure aGcount) Statement of financial position Notes to the financial statements The following pages do not form part of the flnanclal statements Detailed statement of financial activities 18 Notes to the detailed statement of financial activities 20 Appendlx 11 Community Association Management Accounts Appendix111 Community Library Management Accounts
Primrose Hill Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 March 2025 The Iruslees, who are also the dlreclors for thè purposes of company law, present their report and the unaudited financial slalemenls of the charity for the year ended 31 March 2025. Reference and administrative d&tall$ Raglstered charity nama PrnrOSe Hill Community Association Charity rngl$tratlon number 298215 Company registration number 02196012 Principal offleo and registered 29 Hopkinsons Place offica Fitzroy Road London NW1 8TN The trustees Marijke Good Ichairl Maureen 8etts (Vice ch8ir) Nadia Crandall (Treasurer) Lucilla Mary Cottrell Debbie Marshall Elizabeth Middleton Company secretary Loma Fowler Independent examlner Al Groman FCA 5 Vio181 Hill Sl. John's Wood London NW8 9EB
Primrose Hill Community Association Company Limited by Guarantee Trustees, Annual Report (In¢orporating the Directorfs Report) {¢onlinuedJ Year ended 31 March 2025 structure. governance and management Govèrning Document Th8 charity is consliluted os a company limited by guarantee and is therefore govemed by a Memorandum and Articles of Assoclalion. dated 19 November 1987 ond also registered with the Charity Commission8rs. Appolntment, Inductlon & tralnlng of Trustees All members are cir¢ul8led with invitations lo nominate trustees prior lo the AGM advising them of the retiring Iruslees and requesting nominations for the AGM. When consid8rSng co-opting Iruslees. the Board has regard lo the requiremenl for any specialist skllls needèd. New Iruslees undergo an orienlalion day lo brief them on their legal obligalions under charity and company law. the conlenl of the Memorandum and Articles of Association, the ¢otnmittee and decision making processes, the business plan and recenl linan¢ial performance of the charity. During Ihe induction day Ihey meet key employees and other trustees. Trustees ar8 encouraged lo allend appropriate external training events where thèse will facilitsle the undertaking of their role. Organlsatlon The charity is organlsed so Ihal the directors meet regularly lo manage Sts affalrs. Ther8 is one full lime executive, M Hudspelh, who LK)Ih marbages the day lo day adminislralion of the ¢harily and organises fundraising inilialives. The remaining s12ff are employed to run particularservice sections orwilh specific adminislralion or building responsibilities. Risk management The trustees regularfy discuss the risks the charity may face, and when potential risks are identified systems and procedures lo mitigate those risks are pul in place. together with the implementation of procedures designed lo minimise any potential impact on the charty should those risks maleiialise. Objectlv&$ and actlvltles The ¢h8r11S object and ils principal activily continue to be that of promoting the benefit of those persons livlng and working in that part of the London Borough of Camden which lies within a half mile radius of the Centre. The IrLJStees have referred to Ihe guidan contained in the Charity Commission's general guidance on public benefit when reviewing our aims and obje¢tives and in planning our future services. In particular the board of trustees ¢onsider how our planned services will contribute to the aims and objectives thèy havo sel. Strateg1¢ report The following secttons for achievements and performance and financial review form the strategic report of the charity.
Primrose Hill Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) f¢ontlnuedJ Year ended 31 March 2025 Achlevements and perfomiance Our 'Open House. project which alms to bring people together by putting on a different aclwily each week. always followod by lea, cake and socialising, celebrated ils twelfth anniversary. The co-ordinator Tracey Mil¢hell has been with us from Ihe start and Continues to produce innovative programmes. Another of our projects which reached a similar landmark was our Life Drawing class, ever popular and wonderfully administered throughout that lime by local artisl Sophie Levi. The third of our 10 plus anniversaries belong to 'On the Hill. magazine, which we are very proud of. produced by our exlr6moly capable volunteers under the leadership of brflllanl edllor Maggie Chambers. Regardlng longevlty. Narcotics Anonymous have been meeting twice a week at Primrose Hill Community Centre for 39 years Ilhe longest run of mè81ings al the same venue in the history of the organisatlon in the UK). Our Evenls learn continues to pul on a lol of community events, includlng the ever-popular Jumble Sale whlch recycles a lol of local iterns, our Novèmber and March discos, always so popular thanks lo our pro-bono DJ Jason Pitlock. The Quiz In May is another event which always sells out with the help ol quizmasters Debbie and Nick. The annual Summer Garden Party IS 8 re81 community event using an army of volunteers lo help organise and run it. Catherine Kelly. one of those amazing volunteers, beautifully organises all the local bands and artists that perfomi on the day. The Burns night in January is another popular Iradilional event. Our AGM went particularly well thanks to the high ¢alibre of invited guest speakerAlex Youngor. We held sèveral topical talks over the year and al Chrfslmas we pul on a seasonal event for our volunteers and members. Other regular free or nominal cost activities that happ8n at the community centr8 are Zumba Gold, Chalr Yoga. Sadie Yoga, Qi Gong, Art for th& Mind. Drama workshops We hav6 a naw 8mployee al the community centre and libraiy, Cheuk Wai Lee. who is doing a splendid job and is loved by all. The Community Centre became a polling station iwice. On for the mayoral elecllons and onc8 foT the general election. One of our newer events, the Memory Singing Circle, started out with 2 or 3 users and now boasts almost 40. Circle18ader Martin Nelson mix8s things up using shanties and rounds as w811 as popular classlc songs and is very much an interactive experience. The Neighbourhood Nosh project offers a fre$ market for essentials like fruit, vegetables, bread elo, a Wellbeing Café with basic nulrllious food on a pay what you can basis. and three course m8al deliverf8S into the communily. The Ilbrary conllnues to thrnie and is open four days a week for book loans. printing, computer us6, newspapers, quiet space, whilsl also hosting several author talks. a book club, chess club, games night, Inie gigs. film shows, book and cake sales and various comrnunily classes. For young&r chlldren there is ballet and rhyme lime.
Primrose Hill Community Association Company Limited by Guarantee Trustees. Annual Report {IncorporatÈng the Director's Report) (contlnuedj Year ended 31 March 2025 Flnanclal review The Associ8llon, In this context the combination of the Community Centre and the Library. made a surplus of £51.77112024.' £89,831) in the finanaal year, April 2024 to March 2025. This is the cornbined result of the Community Centre and the Library. In pracll¢e the funding and Accounts of the two organisations are kept separate. The Management Accounts of thè Community Association and the Library ar8 allached as a key element in the Trustees Report. There are reports from both Treasurers allached to their separate Management Accounts. {See Appendlcesll and 1111 Plans for future perlods In the colder weather we will continue lo provide a warm welcoming space, through our café and corllmunily aclivilies. The library and communily centre will continue lo provide free or low-pri aclivilies. classes and services for the benefit of people in the community. We will continue to engage across the neighbourhood through our various ¢ommuni¢alion ¢hanng1s like 'On tho Hill, magazine, soclal media, newsletters and hard copy posters across the ar8a. Tha trustees, annual report and the strategic rewjrt were approved on . I r• on behalf o e board of Iruslees by= Marijke Good (Chair) Trustee
Primrose Hill Community Association Company Limiled by Guarantee Independent Examiner's Report to the Trustees of Primrose Hill Community Association Year ended 31 March 2025 I report lo the Iruslees on my examination of the linanaal statements of Primrose Hill Community Association fihe charity,) for the year ended 31 March 2025. ResponslbllitSes and basls of report As the trustees of the company land also ils directors for the purposes of ¢omp8ny law} you are responslble for the preparation of the financial slalemenls in accordance with the requirements ol the Companies Act 20061.the 2006 Act'i. Having satisfied myself that the a¢¢ounls of the company 8re not required lo be audited under Part 16 of the 2006 A¢1 and are eligible for independent examination, I report In resptscl of my examlnalion of the charity's accounts as carried out under section 145 of the Charities Act 2011 I'lhe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under sectton 14515llb) of the 2011 A¢1. Independent examlnerfs statement Sin¢fj the cJ)8rity's gross incomo exceaded £250,000 your examiner must bg a mgmbgr of a body listed in s6clion 145 of the 2011 Act. I confirm that l am qualified to undertake th6 8xaminalion because l am a member of the Institute of Chartered Accountants in England and Wales IICAEWI. which is one of the listed bodies. I have completed my examlnatlon. I conflrm that no matters have come lo my all8nllon In conn8clion th the 6xaminalion olvlng me cause lo belleve.. accounting records were not kept in spect of the charity as required by sectlon 386 of the 2006 Acl., or the financial statements do not accord with those records.. or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requiromont that the accounts give a 'true and faiv view which is not a matter considered as part of an Indepondent examSnatton', or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charthies preparing their acwunls in accordance with the Financlal R8POrting Standard applicable in the UK and Republic of ITeland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn In Ihls report In order to enable a proper understanding of the accounts to be reached. Al Groman FCA Independent Examiner 5 Violet Hill Sl. John's Wood London NW8 gEB
Primrose Hill Community Association Company Limited by Guarantee Statement of Financial Activities {including income and expendlture account) Year ended 31 March 2025 2025 Unrestrlcted Restricted funds funds Total funds 2024 Total funds Note Income and endowments Donalions, legacies and grants Investment income Other income 36,157 10,593 139,330 79,920 25.551 62,1S1 116.077 36,144 201,481 145,559 20,061 210,324 Total Incom¢ 186,080 167,622 353,702 375,944 Expenditure Expenditura on raising funds.. Costs of raising donations and legacies Expendlture on charitable acllvllles Total expenditure 10,603 142.027 6,005 136,524 16,608 278,551 18,402 279.061 9,10 152,630 142,529 295.159 297,463 Net Income 33.450 25,093 58,543 78,481 Other racognised gains and lossos {Lossgsllgains from revaluation of fixed assets {6,7721 18,321 {6,7721 51.771 11,350 Net movement in funds 33.450 89,831 Reconclllallon of funds Total funds brought foNard Total funds carrlad forward 494.563 858,782 1,353,345 1.263,514 528,013 877,103 1,405.116 1,353,345 The statement of financial activities includès all gains and losses recognised in the year. All income and expenditure derlv& from conllnuing actlvilies. The t)otes oti pages 8 ¢0 16 fom) part of these financlal statements.
Primrose Hill Community Association Company Limited by Guarantee Statement of Financial Position 31 MarGh 2025 2025 2024 Note Flxed assets Tangible fixed assets 14 283,443 306.278 Curr&nt 8ssots Debtors Investments Cash at bank and in hand 15 16 16,696 507,835 714,037 1,238.568 16,121 346,357 805,392 1.167.870 Credltors: 8mounts falllng due wlthln one yoar Net current 8SS8ts 17 116,895 120,803 1,121,673 1,405,116 1.405,116 1.047.067 Total assets less current Ilabllltles 1.353,345 Net assets 1,353,345 Funds of the charlty R¢stri¢ted income funds.. Revaluation reserve Other restricteil in¢ome funds Unrestricted funds 16,7721 883,875 528,013 27.042 831.740 494.563 Totsl ¢harlly fund$ 20 1,405.116 1.353,345 For the year &ndlng 31 March 2025 the charity was onlitlod lo exemption from audit under section 477 of the Cornpanies Act 2006 rslating to srnall companies. Directors, responsibilities.. The merllbers have not required the ¢omp8ny to obt8in 8n 8udit of its fin8rrial statements for the year in question In accordance with se¢tÉon 476., The dlreclors acknowledge Ihelr responsibiliEies for complying with the requirements of the Actwilh respect to accounting records and the preparation of financial statements. Thes8 flnancial statements have been prepared in accordanc8 with the provisions applicabl8 10 companies subject lo the sma51 companles, reglme. Th8se financial statements were a on........ proved by the board of Iruslees and aulhorised for Issue and are signed on behalf of the board by= Marijke Good (Chair) Trusteo The notes on pag85 8 to 16 form part of these finanGial 5tatement¥.
Primrose Hill Community Association Company Llmlled by Guarantee Notes to the Finan¢lal Statements Year ended 31 March 2025 GenÈral Information The charity is a publi¢ benefit entity and a privale company limited by guarantee, registered In England and Wales and a registered charity in England and Wales. The address of the registered office Is 29 Hopkinsons Place, Fitzroy Road. London NW18TN. statement of compllance Thase flnancial statements have bèén prepared in complianca wilh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republ1¢ of Ireland,, the Slalement of Recommended Practice applicable to ch8rities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 Icharili8S SORP IFRS 10211 and the Companies Act 2006. Accounting poll¢l•s Ba$1$ of preparation The financial statements have been prepared on the historical cost basis, as modified by Ihe revaluation of certain financlal assets and liabilities and investment properties measured al fair value through income or expenditure. The financlal stalemgnts are prepared Sn sterling, which is the functional currency of th8 entity. Going concern There are no material uncertainties about the charity's 8bility lo continue. Judgements and key sources of astlmation uncertalnty The preparation of the financial statements requires management lo make judgements, estimates and assumplic>ns Ihal affect the amounts reported. These ¢stimates and judgements are continually reviewed and 8ra based on experiénce and otheT fa¢tors, including expectations of future events that are belleved to be reasonable undor the circumstance8. Fund accountlng Unrestricted funds are 8vaSlable for use al the discretion of the trustees to further any of the charill8 purposes. Desionated funds a unrestricted funds earmarked by the Iruslees for particular future project or commitment. Restricted funds are subjected to reslriclions on their expenditure declared by the donor orthrough the terms of an oppeal, and fall into on8 of Iwo sub.classes: restricted income funds or endowment funds.
Primrose Hlll Community Association Company Limiled by Guarantee Notes to the Finan¢lal Statements (conilnu6dJ Year ended 31 March 2025 Accounting pollclès {contlnuedJ Incomlng resources All incomlng resources are included in the statement of financial activities when enlitlemenl has passed to the charity., il is probabl& that the economic benefits associated with the transaction will fTow to the charity and the arnounl Can be reliably measured. The following specific policies are applied to particular categories of income= income from donations or grants is re¢ognise(S when there is evKlonce of entillemenl lo the glft, receipt is probable and ils amount Can bo measured reliably. legacy income is recognised when receipt is probable and enlillemenl is established. income from donated gOS is measured at the fair valtje ol the goods unless this is impractical lo m8asure reliably, in which case the value is derived from Ihe cost to the donor or the eslimaled resale value. Donalad facilities and servlces are recognised in the accounts when received if the value tan bè reliably measured. No amounts are Indud8d for the contribution of general volunteers. income from contracts for the supply ol serveS is recognised with the delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for il lo be spent on a particular purpose and returned if unspent. in which case I may be regarded as reslricled. Rosources expend8d Expenditure is rgcognised on an accruals basis as a liability is incurred. Expenditure Includas any VAT which cannot be fully recovered, and is classilied under headings of the slatement of fin8ncial activities lo whi¢h it relates.. $xpendilure on raising funds in¢lLtdes the costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods. expenditure on charltable actlvilies includes all costs Incurred by a charty In undertaking aclivities that furth8r its charllabl8 8ims for the benefll of Ils beneficiaries, including those support costs and costs relating to the governan of the chaiity apportioned lo charitsble a¢livilies. olherexpendilure includes all expenditure that is neither related lo raising fundsfor the Charity nor part of Its expenditure on chari18ble activities. All costs are allocated to expendrture categories reflè¢tlng lh¢ use of the resource. Direct costs attributable to a single activity are allocated directly lo that aclivily. Shared costs are apportioned beiween th8 activities they contributè lo on a reasonable. justifiable and consistent basis. Tangible assets Tanglble ass&is are initially recorded al cost, and subsequently slated al Cosl less any accumulated depreciation and impairment losses. Any18ngible assets carried al revalued amounts are recorded at the fair value 81 the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairmenl losses.
Primrose Hill Community Association Company Limited by Guarantee Notes to the Financial Statements fconllnued) Year ended 31 March 2025 Accountlng pollclas (¢ontlnu8d) Tangible assets [11&) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless 51 reverses a charge for impairment that has previously been recognised as expenditure within the slalemenl of financial activities. A decrease in the carrying amount of an asset as a result of revalu81ion, is re¢ognised in olhar recognised gains and losses, except to which it offsets any previous revalu81ion gain, In which ca88 the loss is shown within other recognised gains and losses on the slalemanl of financial aclivilies. Depreclatlon Depreciation is ¢alculated so as to write off the cost orvaluation of an asset. less its residual value. over the us6ful economlc life of that asset as follows.. Short leasehold property Equipment Straight line over Ihe life of the lease 25Vo straight line Impaimient of fixed assets A review for Sndicalors of Impalrm8nl18 C8rr18d out at each reporting dalé. with the recov8rab18 amount being eslimaled where such indicators exist. Whgre the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments ara also rgvigwed for possible reversal al each reporting date. For the purposes of impaiifnenl testing. when il is not possible lo estimate the recoverable amount of an Individual asset, an estimate is made of the recoverable amount of the cash-generating unil lo which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that indudes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For Impairmant lesllng of goodwlll. the goodwll acquired in a business combination is. from the 8cquisilion date. allocale(S to each of the cash-generating units that are expected lo benefit from the synergies of the combination, irrespective of whother olh6r assets or liabilities of th& charity are assigned lo those unlts. Government and local authorlty grants Govemment grants reeognised at the fair value of the asset received or receivable. Grants are not recognlsed until there is reasonable assurance that the charity wlll comply with the conditions atta¢hlng lo them and the grants will be recsived. Where the grant does not impose specified future performance-related conditions on the recipient, il is recognised in income when the grant pro¢eeds are received or reivable. Where the grant does impose specified future porformance-relaled conditions on the re¢ipi8nt, Il is re¢ognised in income only when the perforfflance-relaled conditions have been mel. Where grants received are prior lo satisfying the revenue recognition criteria, they are recognised as a liability. 10
Primrose Hill Communlty Association Company Limited by Guarantee Notes to the Financial Statements (conllnu8d) Year ended 31 March 2025 Flnanclal Instruments A financial asset or a financial li8bilily is recognised only when the enlty becomes a party to the contractual provisions of the inslrumenl. Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction Costs, unless the arrangement conslilules a financing transaction, where it Is recognised al the present value of the future payments discounted at a market rale of interest for a similar debt instrument. Current assets and current liabilities are subseq¥Jenlly measured atlhe cash or other consideration expected to be paid or recelved and not discounted. Debt instruments are subsequently measurod at amortised cost. Where Investments in shares or preference shares are publlc1y traded or their falr value can othenmise b8 moasured reliably. the investment Is subsequently measured at fair value with changes in fair value recognised in income and exp8ndilure. All other such inveslmenls are subsequenlly measured al Cost less impairm6nt. Financial assets that are measur8d 81 cost or amortised cost are reviewed for objedlve eviden of impairment at the end of each reporting date. If there is objective evidence of impairmenl, an impairment loss is recognised under the oppropriate heading in the slalemenl of financial activities in which the initi81 gain was recognised. Defined ¢ontribution plans Contributions lo defined contribution plans are recognised as an expense in the perlod in which the related service is provided. Prepaid Contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. h8n conlrlbutions are not expactgd to be settlèd wholly wllhin 12 months of tha end of the reporting date in which the employees render the related 8ervic8, the liability Is measured on a discounted present value basis. The unwinding of the discount is recognlsed as an expense in the period in which11 arises. Llrnlted by guarantee The Company is limited by guarantee of £1 per member wilhoul share capita1.
Primrose Hill Community Association Company Limited by Guarantèe Notes to the Flnanclal Statements (conllnued) Year ended 31 March 2025 Donatlons, legacles and grants Unvèstricted Restricted Total Funds Funds Funds 2025 Donatlons Donations Gift Aid Tax Recoverable 8,500 22,015 21,766 30,266 22,015 Grants LB of Camden Groundwork LB of Camden - Deferred grant LB of Camden - Deferred grant re Lease 41.923 41,923 5,642 11,231 5.000 5.642 11,231 5,000 36.157 79.920 116.077 Unleslricled Funds Reslricled Total Funds Funds 2024 Donations Donations Gift Aid Tax Recoverable 25,709 4,153 10,730 36,439 4,153 Grants LB ofcamden Groundwork LB of Camden - D8ferred grant LB of Camden - D8ferred grant re Lease 93,185 93,185 550 11,232 11,232 30,412 115,147 145,559 Investmènt Incoma Unrestrtcted Rèstricted Total Funds Funds Funds 2025 Incoma from Ilsled investments Bank interest recelvable 17,658 7,893 25,551 17.658 1B.486 10,593 10,593 36.144 Unrestricted Funds Reslricled Total Funds Funds 2024 Income from Ilsled Investments Bank interest receivable 7.402 7,479 14.881 7,402 12,659 5,180 5,180 20,061 12
Primrose Hill Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnutrd) Year ended 31 March 2025 Other incomè Llnrèstricted Restricted Total Funds Fund$ Funds 2025 Other income Library project Bar income Lelling income Other miscellaneous income Events income 15,012 20,423 19.491 35.435 19,491 8.621 117.325 7.734 12,875 201.481 B,621 95,208 7,734 12,755 139,330 22,117 120 62,151 Unrestricted Funds Restricted Total Funds Funds 2024 Other income Library project 8ar income Letting income Other miscellaneous nme Events Income 17,264 22.934 23.751 40.198 23,751 8,942 121,137 6,748 9.548 8,942 94.828 6,748 9,428 26,309 120 137,210 73.114 210,324 Co$1$ of raising donations and lègacies Unrestrlcted Restricted Tolal Funds Funds Funds 2025 Costs of generatlng Income- Other activities 10,603 6,005 16.608 Unrestricted Funds Restricted Total Funds Funds 2024 Costs of generating income Other aclivitles 18,402 18,402 Expendlture on charltab19 actlvltlos by fund typ8 Unre$lrlcted Restrlcted Total Funds Funds Funds 2025 Support costs 142.027 136,524 278,551 Unrestricled Funds Restricted Total Funds Funds 2024 Support costs 153.027 126,034 279,061 13
Primrose Hill Community Association Company Llmited by Guarantee Notes to the Financlal Statements (¢ontlnu8d) Year ended 31 March 2025 10. Expèndituré on charitable actlvltles by activity type Support Total funds Costs 2025 Total fund 2024 Core Acllvilles Direct project costs Library projects Govornance costs 131,701 18,627 111,496 16,727 131,701 18,627 111,496 16,727 133,177 19,436 113.277 13,171 279.061 278,551 278,551 11. Net income Nel income is slated after chargingl{¢reditingl'. 2025 2024 Depreoiallon of tangible fixèd assets 23,539 24,061 12. Stsff co$ts The total stsff costs and employea nefits for th8 reporting peTiod 8nalysed as follows.. 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 115,686 5,341 2,355 117,421 10,032 2,472 123,382 129,925 The average head count of employees during the year was 512024.. 51. The average number of full-time equivalent employees during the year is analysed as follows.. 2025 2024 Adminislralion Management No ornployee received employee benefits of more than £60,000 during the year {2024= Nil). 13. Trustoo remunaratlon and expensos SORP 201 S requires the following slalemenl lo be made... no remuneration or other benefits from employment with the charity or a related entity were received by the trustees., 14
Primrose Hill Community Association Company Limlted by Guarantee Notes to the Financial Statements (¢OnlAnued) Year ended 31 March 2025 14. Tanglbl• fixed assets Land and buildings Equipment Total Cost Al 1 April 2024 Additions 416,791 14.325 704 431.116 704 At 31 March 2025 416,791 15,029 431.820 Depre¢latlon At 1 April 2024 Charge for th8 ygar At 31 March 2025 113,685 23,021 11,153 518 124,838 23.539 136,706 11,671 148.377 Carrylng amount At 31 March 2025 280,085 3,358 3,172 283.443 Al 31 March 2024 303,1Q6 306,278 15. Debtors 2025 2024 Dobtors Olhor debtors 15,645 1,051 5,202 10,919 16,696 16.121 16. Invostm&nts 2025 2024 PHCL- Quoted Investment portfolio 507.835 346,357 17. Creditors.. amounts falling due withln one year 2025 2024 Creditors Provisions for utililles Deferred income PHCA Barclaycard Commercial Accruals 10,457 18,500 78,613 4,015 5.310 6,538 15,500 89.844 3.701 5.220 116.895 120,803 15
Primrose Hill Community Association Company Limited by Guarantee Notes to the Flnanclal Statements (contlnue Year ended 31 March 2025 18. Dalarr8d income 2025 2024 At 1 April 2024 Amount releasad to income 89,844 {11,2311 78.613 134,261 144,4171 89,844 At 31 March 2025 19. Pensions and othèr post retirement beneflts Deflnèd contrlbution plans The amount recognised in income or expendilure as an expense in relation to defined contribution plans was £2.35512024'. £2.4721. 20. An8lysls of charitablè funds Unrèstricted funds AtIApr 2024 Gains and At 31 Mar 10sSèS 2025 Income Expenditure Transfers General funds 494,563 186,080 {152,630) 528,013 At1Apr 2023 Gains and Al 31 Mar losses 2024 Income ExndItUre TTansf8rs General funds 474,788 172,802 {153,0271 494,563 Restrlcted funds At1Apr 2024 Galns and At 31 Mar losses 2025 Incorn8 Expendlture Transfers Restricted Fund Revalualion reserve 858,782 167,622 1142,5291 883,875 {6,7721 {6,772) 16,772} 877,103 858.782 167,622 (142,5291 Al 1 Apr 2023 Gains and Al 31 Mer losses 2024 Income Expenditure Transfers Restricted Fund Revaluation reserve 773.735 203,142 {144,4361 17011 831,740 14,991 701 11,350 27,042 788,726 203,142 1144,4361 11,350 8,782 16
Primrose Hill Community Association Company Limited by Guarantee Management Informatlon Year ended 31 March 2025 APPENDIX I Tha following pagès do not fomi part of the financlal statements. 17
Primrose Hill Community Association Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Income and endowments Donations, legacies and grants Donations Gift Aid Tax Recoverable LB of Camden Groundwork LB of Camden- Deferd grant LB of Camden - Deferred grant re Lease 30,266 22,015 41,923 5,642 11,231 5,000 36.439 4.153 93.185 550 11,232 116.077 145,559 Investment income Income from listed investments Bank interest receivable 17,658 18,486 36,144 7,402 12,659 20.061 Other Incomg Other activities Library proje¢l Bar income Letting Income Olher miscellaneous Income Events In¢omo 35,435 19.491 8.621 117.325 7.734 12,875 40,198 23.751 8.942 121,137 6,748 9.548 201.481 210,324 Total Income 353,702 375,944 18
Primrose Hill Community Association Company Limited by Guarantee Detailed Ststement of Financial AGtivities (con11n) Year ended 31 March 2025 2025 2024 Expendlture Costs of ralslng donatlons and legacle$ Activity costs 16,608 18.402 Expanditure on charitable activities Wages and salaries Employerfs NIC Pension costs Rent Rates and water Light and heal Repairs and maintenance Insuran Other eslablishmenl- Cleaning and sundry Advartising and marketing Legal 8nd professional fees Telephone Other offKe costs Amortisalion Depre¢iation Direct proje¢t costs Bank charges Investment fees 115,686 5,341 2,355 1,762 6,975 10,968 11,440 3.322 34,076 1.449 14.742 2.178 8.560 11,231 12,307 34.121 1.894 144 117,421 10,032 2,472 1,054 7,085 12,469 13,345 3,04g 29,040 856 11,285 2.218 8,095 11,232 12,829 34,670 1,799 120 278,551 279,061 Totsl axpanditure 295,159 297,463 Net income 58,543 78,481 19
Primrose Hill Community Association Company Limited by Guarantee Notes to the Detailed Statement of Financial A¢tlvities (Gontlnuèd) Year ended 31 March 2025 2025 2024 Costs of raising donatlons and l•g8¢le$ Activity costs Expendlture on charltable actlvltles 16,608 18,402 Core actlvlties Wageslsalaiies Employer's NIC Pension costs Car park costs Rates & water Light & htsal Repairs & maintenance Insurancè Cleanlng & sundry Advertisino and markelSng Telephone Office costs Depre¢ialion Bank charges 75.506 3.442 1.635 1,762 4,641 3,000 5,398 2,218 14,052 1,449 1,299 3,389 12,307 1,603 131.701 75,158 6,826 1,562 1,054 4,762 3,000 8,089 1,802 12,870 856 1,193 2,357 12.254 1.384 133,177 Direct project costs 18.627 19,436 Llbrary projects PHCL: Wages and salaries PHCL: Employei's NIC PHCL.- Pension costs PHCL= Rates PHCL: Light & Heal PHCL: R8pAirs & m2intenance PHCL". Insurance PHCL-. Cleaning & sundry PHCL.. Telephone PHCL.. Library project office costs PHCL.. Amortisation PHCL.. Depreci81ion PHCL.. Library project PHCL.. Bank charges PHCL.. Stockbrokers fees 40,180 1,899 720 2.334 7.968 6,042 1,104 20,024 879 5,171 11,231 42.263 3.206 910 2.323 9,469 5,256 1.247 16,170 1,025 5,738 11,232 565 13.348 525 13,509 291 144 111,496 113,277 20
Primrose Hill Community Association Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities {¢ontlnuedJ Yaar ended 31 March 2025 2025 2024 Governance costs Accountancy fa8S Govèmance costs - bookkeeping, legal and professlonal fees Licenses & pgrrnits 5,400 9,342 1,985 5,220 6,065 1,886 16.727 13,171 Expgndlturo on charltablg a[vItIeS 278,551 279.061 21
Primrose Hill Community Association Company L¥mited by Guarantee Independent Examiner's Report to the Trustees of Primrose Hill Community Association Year ended 31 March 2025 report lo the trustees on my examination of the financial statements of Primrose Hill Community Association I'the charity'l for the year ended 31 March 2025. Résponsibilitles and basis of report As the Iruslees of the cornpany (and also rfts directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 20061'lhe 2006 Acl'l. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as Caled out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination I have followed the Directions gDJen by the Charity Commission under section 14515llbl of the 2011 Act. Independent examinerfs statement 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 confim that l sm qualified lo undertake the examination because l am a rnember of the Institute of Chartered Accountants in England and Wales IICAEW), which is one of the listed bodies. I have completed my examination. I confimi that no matters have come lo my attention in connection wrth the examination giving me ¢ause lo believe". accounting records were not kept in respect of the charity as required by section 386'of the 2006 Act,. or the finan¢ial statements do not a¢¢ord with those records- or the financial statements do not comply wi(h the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a maller considered as part of an independent examination,. or the fin8ncial statements have not been prepared in accord8nce with the methods and principles of the Statement of Recommended Practice foi accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other rnatters in connection w(th the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. Al Groman FCA Independent Ex¥miner 5 Violet Hill Sl. John's Wood London NW8 9EB