OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

Company Registration Number: 2161913 Charity Registration Number: 299416

1

CONTENTS

CONTENTS
Pag
e
Reference and administrative details 1
Report of the Board of Trustees 3
Structure, governance and 3
management
From vision to activities 5
Achievements and performance 7
Future plans 10
Financial review 11
Trustee’s responsibility statement 12
Independent Examiners Report 13
Statement of fnancial activities 15
Balance sheet 18
Notes to the fnancial statements 20-
32

2

Reference and Administrative details

Company registered number: 02161913 (England and Wales)

Charity registered number: 299416

Registered office: 305-307 Camberwell Road, London, SE5 0HQ

Trustees

Colin Hunte

Thomas White

Althea Marie Smith

Charlie Smith

Anthony Squires Nsini Caroline Obinyan

Christopher Harry Cooper

Aparna Sapre (co-optee) Andy Parry (co-optee)

Emma Stapley (co-optee)

Director

Cathy Deplessis

Advisors

Property

Tim Richards, Aston Rose, 4 Tenterden Street, London W1S 1TE

Legal - property

Katherine Campbell, Reed Smith, The Broadgate Tower, 20 Primrose Street London EC2A 2RS

Strategic development

Phil Tulba, Tulba Consulting Limited, Keates and Co. 1 Rookery House, Grove Farm, Crookham Village, Hampshire, GU51 5RX

Business development

Brooke Eyler, Amber Honick, Matthew Parungao, Julianna Werner, Ben Cronin, Isabel Keidan, Niral Bangha, Isabelle Layding, Landon Cook, Nicholas Borne, Sydney Sparks and Patrick Wakeman

Haller Global Honors Fellowship programme, University of Pittsburgh, Pitt Business, College of Business ,

Governance, community development and quality improvement

Karlee Rockstroh, Thomas Meade, Emma Piggott, CAPA, the Global Education Network

Research

Paul Kiff, Royal Statistical Society, 12 Errol Street, London EC1Y 8LX and Research Advice Service

Elyse Couch,

Independent Examiner

David Wright, David Anthony & Co, PO Box 70552, London SE9 9DE.

Banks

NatWest Bank Plc, 290 Walworth Road, London, SE17 3RQ CAF Bank, 25, Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

2

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Report of the Board of Trustees

The Trustees who are also directors of the company for the purposes of the Companies Act present their annual report and the financial statements of Southwark Pensioners’ Centre (the “Centre” or the “charitable company”) for the year ended 31 March 2022. The Trustees confirm that the annual report and financial statements comply with the current statutory requirements in line with the Companies Act 2006, the Small Companies Regulations 2008; the requirements of Southwark Pensioners’ Centre’s governing document, and the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Update Bulletin 1 (Charities SORP FRS 102). Southwark Pensioners’ Centre also operates under the name “SPC”.

Structure, governance and management

Governing document

Southwark Pensioners’ Centre is registered as a charitable company limited by guarantee not having a share capital. It was set up under a Memorandum of Association and Articles of Association on 7 September 1987 which were subsequently amended 11[th] February 2016 by a Special Resolution.

Recruitment and appointment of Trustees

The governing document allows for up to nine elected Trustees and three coopted ones. The latter are recruited for particular experience and skills that would enhance the current Board strengthening direction and oversight.

SPC advertises vacant positions widely through its networks, its newsletter, specialist charity publications and online community noticeboards. Trustees and staff also encourage potential trustees to come forward from among the membership and from our networks.

It is important for Trustees that all Trustees are or become members of the Centre.

All potential Trustees are offered the opportunity to observe a Trustee meeting, to be shown round the Centre and to meet the Director, the Chair and Vice Chair

3

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

to learn more about SPC’s objectives and activities. The meeting gives potential Trustees the opportunity to ask questions, learn more about the Centre, what it stands for and its achievements. Potential Trustees can also demonstrate that they have the knowledge, skills and abilities to meet the requirements of the role of Director of the Charity. All being well, the Chair and Vice Chair will ask trustees to support the nomination to the AGM or to agree co-option onto the Board pending the next AGM.

Induction and training of Trustees

After appointment, all Trustees meet with the Director and Chair for a full induction to ensure they are fully trained into their new roles including any portfolio responsibilities.

The Charity is holding its first AGM since the major impact on business as usual of the pandemic and will seek to pass resolutions to bring all Trustee terms up to date.

Organisational structure and decision making

The Board of Trustees are responsible for overseeing the strategic development of the Centre and deciding on policy. Trustees ensure the good management of the centre by delegating planning and the day to day running to staff with appropriate skills. The Chair mentors the Director and provides regular guidance and direction.

In light of the pandemic, to ensure strategic guidance, adequate oversight and timely decision making in what was a very fast-moving situation, the Board changed from quarterly meetings to monthly ones, sometimes meeting fortnightly and collapsed its structure to just one main meeting.

Trustees do not receive remuneration for their role. The Centre Director’s salary and responsibilities are reviewed periodically against market rates. The Centre does not automatically award its staff an annual salary increase, increments or cost of living rises. All staff understand that their posts and contracts are predicated on the basis of the potential end of funding commitments.

Risk management

4

2021 - 2022

Southwark Pensioners’ Centre Annual Report and Accounts

The Board of Trustees has assessed the major risks to which the charity is exposed in particular those related to the operations, legal responsibilities and finances of the charity. The major risks in 2021-22 were the continued reduction in income and the phased ending of the national lockdown. Trustees took steps to continue to ensure those risks were managed through a major staff change programme and by implementing revised the covid19 risk assessments. Trustees continue to review the top risks to the Charity.

Public Benefit

The Trustees confirm that in setting the objectives of Southwark Pensioners’ Centre and planning its activities, they have complied with the duty to have regard to the Charity Commission’s general guidance on public benefit, Charities and Public Benefit .

The principal object of Southwark Pensioners Centre is to promote any charitable purposes which are for the benefit of the community in and around Southwark, (the Community) and without prejudice to the foregoing, in particular to provide for the relief of poverty, sickness and distress of elderly people in the Community. In the last quarter of the financial year, cost of living pressures arising out of increased inflation and rising energy process became more concerning and

As a direct result, all of the activities at the Centre are free or low cost.

From vision to activities

Vision

Our vision is a community where all older people are engaging in services and activities, connected to social networks and accessing services that sustain independent, vibrant lives.

Mission

Our mission is to provide dynamic services and activities run by older people for older people, promoting good health and wellbeing, active citizenship and lifelong learning.

Principles

Underpinning all that we do are the following principles:

1. Every older person matters

5

2022

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts

2. We empower, enable and support older people

3. The three Ps

b. Proactive, positive people

6

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Objectives

Southwark Pensioners Centre has two main objectives which are to support older people and to be an effective and well-run charity.

Outcomes

We plan and deliver outcomes against these objectives through several projects: - Vital health, Mix and Mingle, Keep it moving, Creative Age, Awesome Wisdom, Enrich Lifelong Learning, Volunteering and No Matter What; all designed to improve health and wellbeing, reduce isolation and loneliness, increase access to the arts, increase connectedness, learning and contribution to civic society, increase the voice of older people and increase individual income and independence. In 2021/22, SPC began working with the Royal Statistical Society to improve its approach to assessing and reporting on impact.

Main activities

We are a local charity, located in the centre of the Borough of Southwark at Camberwell Green.

Walworth Pensioners Project and Southwark Pensioners Action established the Centre in 1987 to

address the lack of services and activities for older people.

Southwark Pensioners’ Centre is a multi-level community and resource centre that widens access

to services providing a vital one-stop point for older people that eliminates the need for multiple

journeys to various agencies. Resources include a main activity / function room, garden room, IT

room, kitchen garden, and a large drop-in reception/information/social space. We operate Mondays to Fridays 9am to 5pm and our services are free or nominal cost. Activities groups include singing, local history, art, music, exercise, IT, campaigning, research and consultation. Services include advice, referrals, signposting and connection.

7

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

We are part of the Ageing Well Southwark service which is now in its third year of operation and as such offer wider access for older people to activities and services throughout the whole borough.

Achievements and performance

Southwark Pensioners Centre was pleased to get recognition for its work to support older people by being awarded a Southwark Covid19 civic award.

Objective 1: To support older people

While Southwark Pensioners’ Centre welcomed the phased ending of national lockdown restrictions in the first quarter of 2021 we remained very vigilant to ensuring we kept the risk of Covid19 infection as low as possible as users returned in greater numbers. Plans to use a nearby large church hall to continue to deliver face to face activities foundered and we had to use our Centre instead and keep most face, space and hygiene measures in place which slowed the rate of return.

Funding from the Dulwich Almshouse Charity, Southwark Council, the Ronnie and Carmela Pignatelli Foundation and Independent Age enabled us to restart activities offering a mix of face to face, hybrid and online only activities to suit the comfort, convenience and confidence level of SPC users.

We worked really hard with service users to encourage them to return to face to face activities. Once in our centre, people felt safe but still feared using public transport to get to us. We identified that those users who had not been able to engage with us during the pandemic had experienced significant deconditioning and a worsening of their cognitive function and mobility.

Projects

In 2021/22, SPC enabled the delivery of 16 group or one to one activities for an average of 120 people. In all, we put on 515 sessions for 434 people of whom 230 were new to SPC.

The Creative Age project enables the Art Group, the Welcome Singers, Camberwell Recorder Players and Creative Tuesday, a mixed media arts programme – 55 individuals took part in 103 sessions during the year.

8

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

The Keep it Moving project supported chi kung, chair-based exercise and line dancing in person and in the centre over 110 sessions and 85 individuals.

The Mix and Mingle project connected 45 individuals over 67 sessions through the Goodrich Club, the Men’s Group and our Christmas lunch.

The Enrich Lifelong Learning project stretched the intellect and minds of 135 individuals through 209 group and one to one sessions.

The Vital Health project provided our popular podiatry service remained with 36 people meeting the NHS qualified podiatrist over 9 sessions.

The Awesome Wisdom project helped others to hear the voices of older people through the Awesome Wisdom project with 62 taking part in nine sessions. Support by CAPA’S internship programme led to Southwark Pensioner’s Action Group (SPAG) reviewing its own aims, celebrate their achievements and create a short action plan that included updating their marketing materials.

Partnership work with Kings College London University was instrumental in helping SPAG to develop the Southwark Covid19 Living Stories Bank project. The project had a number of story gathering phases with student researchers from Kings later meeting three times with participants to hear their stories.

The initial analysis tells us:

  1. The pandemic significantly altered pensioner usual routines

  2. Aware of their vulnerability to Covid-19 they became hyper-vigilant to potential threats with in turn a harmful effect on their sense of autonomy

  3. The constraints of lockdown and a sense of duty to follow the rules, storytellers felt confined to their homes or immediate area

  4. Storytellers experienced barriers to accessing care from health services, which increased their worries about their physical and mental health

Southwark Pensioners’ Parliament returned with a socially distant meeting held at William Booth College rather than at the Palace of Westminster with speeches by Helen Hayes MP and Harriet Harman MP. Older people sought the answers to some difficult issues of their local MPs.

The No Matter What project is to help older people have an adequate standard of living and to have access to advocacy and support. SPC helped 590

9

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

individuals in 2021/22 compared to 479 in 2020/21. The team dealt with 760 new cases. The biggest proportions of advice work were as follows:

Benefits 23%, energy 16%, housing 20%, other money (mostly foodbanks) 11%, transport 10%.

The rising cost of living and in particular rising energy costs present particular financial challenges to older people who are on fixed incomes and are often less able to access discounts that may be available online or through bulk purchasing.

SPC has been part of the Big Energy Scheme (BESN) for four years now which funds advice on saving energy costs. Through it we were able to advise 100 people on how to reduce their energy costs and to link them into savings.

SPC worked with other partners to help develop the council’s energy support scheme. SPC became a community referrer under the scheme and was able to refer 200 people to the council. They received grants on average of £65 or £13,000 altogether.

SPC’s 50+ Advice service’s journey to Advice Quality Standard accreditation benefitted from internship support under CAPA’s global programme. It helped us to review our key policies and processes. This enhanced understanding was crucial to coping with the increased demand for advice from older people.

Objective 2: To be a well-run and effective charity

In April 2021, seeking to further withstand the challenges and ongoing uncertainty of the pandemic supported by the Mayor of London’s Community Spaces at Risk fund, SPC trustees completed a review of the resilience of the charity.

The ratios and analysis showed a stable organisation with an established board. It highlighted some key challenges around unsustainable staff costs, a reliance on grant income and a Centre that is not ‘fit for purpose’.

Trustees addressed the challenges by creating a short, medium- and long-term plan based on a balanced scorecard approach with the following headings - business model, financial return, social return and organisational development.

SPC trustees benefitted from additional strategic capacity through the Mayor’s Community Spaces at risk support fund, internship support through CAPA and 10

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Haller Global Honors students at Pitt Business at the University of Pittsburgh to implement aspects of the plan by reviewing governance, SPC vision, aims and objectives, social media marketing, fundraising, volunteer and donor engagement.

Key progress achieved was the return of many members, user groups, hirers and activities to the Centre, the implementation of a new organisational structure and development work to tackle our premises to better meet the needs of our service users, deliver our funding commitments and address our finances.

SPC’s capacity – financial and staffing - to implement all of the recommendations was affected by the ongoing impact of the pandemic and the slow return of users, the embedding of the changes to staff roles and responsibilities.

SPC works with others to innovate and support older people and to create the best for them. In 2021/22, the Director took a greater role in supporting and developing partnerships with smaller older people’s groups to help meet the needs of older people. SPC helped connect grassroots smaller older people’s groups to the following projects: Connected at Christmas, Warm and Well in Winter and the Southwark Energy Scheme. The projects provided access to information and access to grants to smaller older people’s groups to reach those older people larger organizations and statutory services sometimes find hard to hear.

The Director also provided support to specific groups such as Elim House Community Association, Kingswood Estate Tenants and Residents Association and to Southwark Group of Tenants Organisations to encourage interested Tenants Organisations to develop local activities for older people. The support to Elim House Community Association has led to Trustees agreeing to explore opportunities to collaborate and share services along with the Camberwell Afterschool Project who are nearby in a project called Triple S – the Power of Three.

Future Plans

To support older people

11

2022

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts

To be a well-run and effective charity

12

2022

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts

Financial Review Financial performance in 2021/22

The net result, after operational expenses of £273,273 (2021 £344,877) for the year was £22,520 surplus (2021 £23,374 deficit).

At the end of the financial year total funds were £82,357 (2021 £59,837) of which £59,794 (2021 £12,528) were unrestricted funds and £22,563 (2021 £47,309) were restricted funds.

Trustees set an ambitious budget for 2021/22, key aspirations in the 2022 budget were:

COVD19 continued to impact our plans in a detrimental way slowing down implementation and reducing income generation was dramatically affected.

The liabilities within one year totalled £51,392 as at 31 March 2022. The Trustees considered that the anticipated income for the year ending 31 March 2022 together with the current assets of £113,659 at 31 March 2022 were sufficient to cover these commitments.

Reserves Policy

Reserves are under the Trustee’s policy position of three months of running costs and 2022/23 will see the Charity seek to strengthen its reserves position to return to policy.

The Centre relies on restricted funding from the London Borough of Southwark and other funders to carry out its day-to-day activities and operations. Restricted funding received to date in the financial year ending 31.03.22 totals £256,151.

13

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts

2022

Board of Trustees members’ liability

The Trustees of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of it winding up.

Board of Trustees responsibilities statement

The Trustees (who are also directors of Southwark Pensioners' Centre for the purposes of company law) are responsible for preparing the Trustees report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income and expenditure of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

  1. select suitable accounting policies and then apply them consistently;

  2. observe the methods and principles in the Charities SORP FRS 102;

  3. make judgments and accounting estimates that are reasonable and prudent;

  4. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

  5. prepare the financial statements on the going concern basis unless it is in appropriate to presume that the charitable company will continue in operation.

The Board of Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and 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

14

2021 - 2022

Southwark Pensioners’ Centre Annual Report and Accounts

safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In preparing this report, the Trustees have taken advantage of the small companies' exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the Board of Trustees on and signed on their behalf by:

Charlie Smith - Chair

Date

15

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Independent Examiner’s report to the Trustees of Southwark Pensioners’ Centre

I report on the accounts of the company for the year ended 31 March 2022 which are set out on pages 15 to 32.

Respective responsibilities of trustees and examiner

The trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the accounts.

The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to examine the accounts as required under section 145 of the 2011 Act, follow the procedures laid down in the general Directions given by the charity Commission under section 145(5)(b) of the 2011 Act and to state whether particular matters have come to my attention.

Basis of opinion and scope of work undertaken

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters.

The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ""true and fair view"" and the report is limited to the matters set out in the statement below.

Independent Examiner's Statement

16

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in Section 145 of the 2011 Act.

I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

In connection with my examination, no matter has come to my attention:

1.- which gives me reasonable cause to believe that in any material respect the requirements:

To keep accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and reporting by Charities have not been met, or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

David Wright FCA

David Anthony & Co Chartered Accountants PO Box 70552 London SE9 9DE

The date upon which my opinion is expressed is: -

17

202 1- 202 2

Southwark Pensioners’ Centre Annual Report and Accounts

Statement of financial activities

(Incorporating income and expenditure account) for the year ended 31st March 2022

INCOME FROM:
Note
Donations
2
Other trading activities
3
Interest receivable
4
5
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
6/10
TOTAL EXPENDITURE
NET INCOME AND
NET MOVEMENT IN FUNDS
RECONCILIATION OF
FUNDS
Total funds at 1 April 2021
Transfer between funds
17
TOTAL FUNDS AT 31
MARCH 2021		 Unrestricte
d
Funds
£
9,363
27,575
8
2,696
39,642
-
-
39,642
12,528
7,624
59,794		 Restrict
ed
Funds
£
256,151
-
-
-
256,15
1
273,273
273,27
3
(17,122
)
47,309
(7,624)
22,563		 Total
2022
£
265,514
27,575
8
2,696
295,79
4
273,273
273,27
3
22,520
59,837
-
82,357		 Total
2021
£
320,38
6
928
47
142
321,5
03
344,87
7
344,8
77
(23,37
4)
83,211
-
59,83
7

All of the charity's activities derived from continuing operations during the two financial periods above are on page 15.

18

202 1- 202 2

Southwark Pensioners’ Centre Annual Report and Accounts

All recognised gains and losses are included in the above statement of financial activities.

For comparative purposes, a statement of financial activities for the year ended 31 March 2021 is provided on page 16.

The notes on pages 20 to 32 form part of these financial statements.

Statement of financial activities

(Incorporating income and expenditure account) for the year ended 31st March 2021

INCOME FROM:
Note
Donations
2
Other trading activities
3
Interest receivable
4
Charitable Activities
5
TOTAL INCOME
EXPENDITURE ON:
Charitable Activities
6/10
TOTAL EXPENDITURE
NET INCOME AND
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total funds at 1 April 2021
19		 Unrestricte
d
Funds
£
2,906
928
47
142
4,023
65
65
3,958
46,107		 Restrict
ed
Funds
£
317,480
-
-
-
317,48
0
344,812
344,81
2
(27,332
)
37,104		 Total
2021
£
320,386
928
47
142
321,50
3
344,877
344,87
7
(23,374
)
83,211		 Total
2020
£
247,68
9
19,060
298
30,262
297,3
10
362,61
5
362,6
15
(65,30
5)
148,51
6

----- Start of picture text -----
Southwark Pensioners’ Centre 202
Annual Report and Accounts 1-
202
2
Transfer between funds 17 (37,537 37,537 0 0
)
TOTAL FUNDS AT 31 MARCH
2021
12,528 47,309 59,837 83,21
1
----- End of picture text -----

All of the charity's activities derived from continuing operations during the two financial periods above are on page 16.

All recognised gains and losses are included in the above statement of financial activities.

The notes on pages 20 to 32 form part of these financial statements.

20

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Balance Sheet as at 31st March 2022

Note
FIXED ASSETS
Tangible Assets
12
Intangible Assets
13
CURRENT ASSETS
Debtors
14
Cash at bank and in hand
CURRENT LIABILITIES
Creditors: Amounts falling due within
one year
15
NET CURRENT ASSET
NET ASSET
TOTAL FUNDS OF THE CHARITY
Unrestricted Income
17
Restricted Income
17
TOTAL FUNDS		 2022
£
17,639
2,451
20,090
36,299
77,360
113,659
(51,392)
62,267
82,357
59,794
22,563
82,357		 2021
£
23,907
3,069
26,976
34,780
54,931
89,711
(56,850)
32,861
59,837
12,528
47,309
59,837

21

Southwark Pensioners. Centre Annual Report and Accounts 2021 2022 22

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Balance Sheet as at 31st March 2022 (Continued)

The Trustees consider that the charitable company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the charitable company to obtain an audit for the year in question in accordance with the section 476 of the Act.

The Trustees acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at 31 March 2022 and of its net income for the year then ended in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable, to the charitable company.

The financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies' regime within Part 15 of the Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Trustees on 26[th] May 2022 and are signed on their behalf by:

Charlie Smith,

Trustee,

Chair _________

The notes on pages 20 to 32 form part of these financial statements.

23

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Notes to the financial statements for the year ended 31 March 2022

1 Accounting policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

General Information and Basis of preparation

Southwark Pensioners Centre is a Company limited by guarantee in England/Wales. In the event of the charity being wound up, the liability in respect of the guarantee is Limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of their financial statement.

The charity has applied Update Bulletin 1 as published on 2[nd] of February 2016 and does not include a cash flow statement in the ground it is applying FRS 102 Section 1A.

These financial statements have been prepared for the year to 31 March 2022, presented in sterling and are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

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 United Kingdom and Republic of Ireland (Charities SORP FRS 102) issued on 16 July 2014, Update Bulletin 1 issued on 2 February 2016, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The charity constitutes a public benefit entity as defined by FRS 102.

1.2 Assessment of going concern

24

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The Charitable Company has occupied its current premises since 1997 and enjoys considerable legal protection under the terms of the lease. The Trustees have actively been exploring all possible options since the lease expired in January 2017 and remain confident that a suitable solution will be achieved. In addition, as discussed within the reserves policy (page 11 of the Trustees Report), the Centre relies on funding from the London Borough of Southwark and other funders to carry out its day-to-day

Notes to the financial statements for the year ended 31 March 2022contd.

activities, and in forming the above opinion, the Trustees have given consideration to the availability of restricted and unrestricted reserves and are satisfied that adequate are available to continue for the next 12 months.

1.3 Fund Accounting

General funds are unrestricted funds which are available for use at the discretion of the Board of Trustees in furtherance of the general objectives of the charitable company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific instructions imposed by donors or which have been raised by the charitable company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

1.4 Income

Income comprises donations including contributions from the Centre’s supporters together with grant funding receivable providing core funding for the charity’s activities; income from trading activities, principally the rental of surplus Centre space; and membership fees. All income is included in the statement of financial activities when the charity becomes entitled to the income, it is probable that it will be received by the charitable company and the amount can be quantified with reasonable accuracy.

In the event that the income receivable is subject to conditions that require a level of performance before the charity becomes entitled to the funds, the income is deferred and not recognised until either those conditions are fully 25

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities, they have been allocated on a basis consistent with the use of the resources. Support costs are those costs incurred directly in support of expenditure on the objects of the charitable company and include project management carried out at headquarters. Governance costs are those incurred in connection with the administration of the charitable company and compliance with constitutional and statutory requirements.

Notes to the financial statements for the year ended 31 March 2022contd.

1.6 Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Office furniture and equipment - 20% straight line

1.7 Intangible fixed assets and depreciation

Intangible assets are an investment in a CRM IT System. This will be amortised over 4 years commencing in the year ended March 2022.

1.8 Debtors

Debtors are recognised at their settlement amount, less any provision for nonrecoverability. Prepayments are valued at the amount prepaid.

1.9 Cash at bank and in hand

26

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts 2022

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

1.10 Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

1.11 Operating leases

Rentals under operating leases are charged to the statement of financial activities on a straight-line basis over the term of the lease.

Notes to the financial statements for the year ended 31 March 2022 contd.

2 DONATIONS

Donations
Government Grants (see
below)
Other Grants		 Unrestricted
Funds
£
2,863
-
6,500
9,363		 Restricted
Funds
£
1,3
10
194,889
59,952
256,151		 Total Funds
2022
£
4,173
194,889
66,452
265,514		 Total Funds
2021
£
2,906
178,973
138,50
7
320,386

GOVERNMENT GRANTS

27

2022

Southwark Pensioners’ Centre 2021 - Annual Report and Accounts

2022
London Borough of Southwark 103,418 178,973
Income of £91,471 from Age
UK LAS is other income per
note 17

3 OTHER TRADING ACTIVITIES

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
£ £ £ £
Rental Income 3,552 - 3,552 833
Membership 1,393 - 1,393 69
Other - Photocopying 30 - 30 26
Business Interruption 18,640 - 18,640 -
Secondment of Staf 3,960 - 3,960 -
- 27,575 928
27,575

28

1

Notes to the financial statements for the year ended 31 March 2022 contd.

4 INTEREST RECEIVABLE

Unrestricted
Funds
£
Restricted
Funds
£
Interest receivable
8
-
8
-
NCOME FROM CHARITABLE ACTIVITIES
Unrestricte
d
Funds
£
Restricted
Funds
£
Activities & events
2,696
-
2,696
-		 Total Funds
2022
£
8
8
Total Funds
2022
£
2,696
2.696		 Total
Funds
2021
£
47
47
Total
Funds
2021
£
142
142

5 INCOME FROM CHARITABLE ACTIVITIES

6 ANALYSIS OF EXPENDITURE BY EXPENDITURE TYPE

Direct Costs (Note 7)
Support Costs (Note 8)		 Unrestricted
Funds
£
-
-
-		 Restricted
Funds
£
77,370
195,903
273,273		 Total Funds
2022
£
77,370
195,903
273,273		 Total
Funds
2021
£
104,
934
239
,943
344,877

Southwark Pensioners’ Centre Annual Report and Accounts

Notes to the financial statements for the year ended 31 March 2022 contd.

7 DIRECT COSTS

Unrestricte Restricte Total Total
d d Funds Funds Funds
Basis of Funds £ 2022 2021
Allocation £ £ £
Wages and - 60,069 60,069 82,067
Salaries Staf Time
Social Security - 3,984 3,984 6,228
Cost Staf Time
Pension Costs Staf Time - 1,042 1,042 1,647
Volunteer Exp Actual - 305 305 4,468
Cost
Activities Actual - 9,487 9,487 9,480
Recruitment Exp Cost - - - 65
Actual
cost
Fundraising Actual - 1,116 1,116 216
Cost
Subs& Actual - 969 969 763
Publications Cost
Legal Fees Actual - 398 398 -
Cost
- 77,370 77,370 104,93
4

30

Southwark Pensioners’ Centre Annual Report and Accounts

Notes to the financial statements for the year ended 31 March 2022 contd.

8 SUPPORT COSTS

Unrestricted
Funds
£
Restricted
Funds
£
Premises
Actual Cost
-
32,994
Communication
Actual Cost
-
6,556
Sundry Expenses
Actual Cost
-
-
Catering
Actual Cost
-
833
Bookkeeping and Payroll
Actual Cost
-
4,024
Bank Charges
Actual Cost
-
597
Wages and Salaries
Staf Time
-
67,136
Social Security Costs
Staf Time
-
3,851
Pension Costs
Staf Time
-
916
Depreciation
Actual Cost
-
6,269
Marketing
Actual Cost
-
832
IT costs
Insurance
Amortisation Costs
Governance Costs
Actual Cost
Actual Cost
Actual Cost
Actual Cost
-
8,063
5,441
1,200
57,192
-
195,904
9 GOVERNANCE COSTS
Unrestricted
Funds
£
Restricted
Funds
£
Independent Examiner's
Fee
Actual Cost
-
1,080		 Total Funds
2022
£
32,994
6,556
-
833
4,024
597
67,136
3,851
916
6,269
832
8,063
5,441
1,200
57,192
195,904
Total
Funds
2022
£
1,080		 Total Funds
2021
£
32,152
3,910
881
136
-
570
91,722
6,020
1,447
6,556
354
12,31
1
3,869
1,023
78,992
239,943
Total
Funds
2021
£
1,000

31

Southwark Pensioners’ Centre Annual Report and Accounts

Wages and Salaries
Staf Time
-
Social Security Costs
Staf Time
-
Pension Costs
Staf Time
-
-
10 NET INCOME FOR THE YEAR
This is stated after
charging:
Depreciation of tangible fxed assets:
Owned by the charity
Amortisation IT Software
Pension costs
Independent examiner's fee		 49,4
68
5,4
44
1,2
00		 49,46
8
5,44
4
1,20
0
57,192
2022
£
6,269
1,200
3,158
1,080		 67,58
5
8,51
1
1,89
6
78,992
2021
£
6,556
1,023
4,990
1,000
57,192
11,707 13,56
9

Notes to the financial statements for the year ended 31 March 2022 contd.

During the year no member of the Board of Trustees received any remuneration, benefits in kind, or any reimbursement of expenses.

11 STAFF COSTS

Wages and Salaries
Social Security Costs
Pension Costs
Staf and Volunteer Training
Staf Protection COVID
Staf Protection Lower value
Volunteer Expenses		 Unrestricted
Funds
£
-
-
-
-
-
-
-
-		 Restricted
Funds
£







176,67
3
13,279
3,158
-
-
-
305
193,415		 Total Funds
2022
£
176,673
13,279
3,158
-
-
-
305
193,415		 Total
Funds
2021
£
241,374
20,759
4,990
165
1,010
1,864
1,429
271,591

No employee received remuneration amounting to more than £60,000 in either year.

32

Southwark Pensioners’ Centre Annual Report and Accounts

As stated in note 10, the members of the Board of Trustees are not remunerated for their services as trustees of the charity. During the year £35,173 was payable to the Director (2021: £45,000).

Average number of employees:

2022 2021 9 12

Notes to the financial statements for the year ended 31 March 2022 contd.

12 TANGIBLE FIXED ASSETS

Office Furniture and Equipment £ Cost At 1 April 2021 63,682 Additions - At 31 March 2022 63,682 Depreciation At 1 April 2021 39,774

33

Southwark Pensioners’ Centre Annual Report and Accounts

Charge of the year 6,269 At 31 March 2022 46,043 Net Book Value At 31 March 2022 17,639

13 Intangible Asset

Cost
At 1 April 2021
Additions
At 31 March 2022
Depreciation
At 1 April 2021
Amortisation charge
for the year
Total charge at 31
March 2022
Value at 31 March
2022		 4,0
92
582
4,674
1,023
1,200
2,223
2,451

Notes to the financial statements for the year ended 31 March 2022 contd.

14 Debtors
2022 2021
£ £
Prepayments and accrued income 4,389 10,242
Other Debtors 31,910 24,538

34

Southwark Pensioners’ Centre Annual Report and Accounts

36,299 34,78 0

15 Creditors: Amounts falling due within one year

Trade Creditors
Accruals and deferred income		 2022
£
7,581
43,81
1
51,392		 2021
£
9,541
47,30
9
56,850

16 Deferred Income

16 Deferred Income
The Mercers Company
SPAG – Tony Farsky legacy
Dulwich Almshouse Charity
Kings College London
Age UK Lewisham and Southwark
Other Deferred Income
LB Southwark – additional restrictions
grant
Southwark Charities
LB Southwark – democracy fund
LB Southwark - NH Fund 2021/22		 2022
£
-
2,250
7,000
5,000
-
-
2,248
9,425
720
5,000
31,643		 2021
£
3,053
2,750
7,000
5,000
21,868
7,638
-
-
-
-
47,309

Notes to the financial statements for the year ended 31 March 2022 contd.

----- Start of picture text -----
17 STATEMENT OF FUNDS
Transfe Carried
Brought Income Expenditure rs Forwar
Forward In/Out d
£ £ £ £ £
General Funds
Unrestricted funds 12,528 39,642 - 7,624 59,794
-
12,528 39,64 7,624 59,79
----- End of picture text -----

35

Southwark Pensioners’ Centre Annual Report and Accounts

----- Start of picture text -----
2 4
Restricted Funds
- - - - -
Others (Donations, SPAG, Just Giving)
LB Southwark – Common purpose – 47,30 103,41 (120,540) (7,624) 22,563
Core 9 8
AGE UK Older Peoples & Carers Hub - 91,471 (91,471) - -
Other Restricted Funds - 61,262 (61,262) - -
47,309 256,151 (273,273) (7,624) 22,563
Total of funds 59,837 295,793 (273,273) 82,357
-
----- End of picture text -----

Notes to the financial statements for the year ended 31 March 2021 contd.

Narrative

  1. LB Southwark – Common Purpose Programme - Funding from local authority towards the core costs of the Centre, the Enrich Lifelong Learning Project and the Reaching Out Project

  2. Age UK Lewisham and Southwark – Older People’s and Carers Hub contract on behalf of LB Southwark and Warm and Well funding

  3. LB Southwark – Pensioners Parliament

  4. HMRC - Furlough

  5. Independent Age – Restarting activities

  6. United Saint Saviours Charity– Connected at Christmas grant

36

Southwark Pensioners’ Centre Annual Report and Accounts

  1. LB Southwark – Staff retention bonus

  2. SPAG – Tony Farsky legacy

  3. Dulwich Almshouse – Xmas party

  4. LB Southwark – Covid19 funding including additional restrictions funding

18 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fxed assets
Intangible fxed assets
Current Assets
Creditors due within one year		 Unrestricted
Funds
2022
£
17,639
2,451
39,704
-
59,794		 Restricte
d Funds
2022
£
-
-
73,955
(51,392)
22,563		 Total
Funds
2022
£
17,639
2,451
113,659
(51,392)
82,357		 Total
Funds
2021
£
23,907
3,069
89,711
(56,850)
59,837

Notes to the financial statements for the year ended 31 March 2022 contd.

PENSION COMMITMENTS

The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund.

20 OPERATING LEASE COMMITMENTS

37

Southwark Pensioners’ Centre Annual Report and Accounts

At 31 March 2022 the charitable company has no future commitments payable under noncancellable operating leases,

21 RELATED PARTY TRANSACTIONS

During the year ended 31 March 2022 there were no related party transactions to report.

Signed:

Charlie Smith

Position: Chair

Date:

38