2024-03-31-accounts

MUSWELL HILL CENTRE FINANCIAL STATEMENTS FOR THE YEAR ENDED 318t March 2024 Charity No. 303054

TRUSTEES, REPORT TO THE MEMBERS OF THE MUSWELL HILL CENTRE al and administrative information Trusteos Valdet Palmer Jonalhar) Bl¢)ch Rupert Townsènd Dr. Robert Hare Cllr. Cathy Brennan Helen Lyon Cllr. Eldridge CulveFwell CIIT. Marsha1511ar-Gosling VirKent Benson (Appolnled January 2024) (Appoinled 9th January 2024} {Appointed 9th January 20241 Charity Offices Muswell Hll Centre Hillfield Park Lolldon N103QJ Email addrnss rbtre@muswellhillcentre.o .uk IndBpwd•nt Exarniner Ms. B. Kalloushi ACIE 6 LSnden Road London N10 3DH Bank8rs National Westminster Bank plc. Stsmford Hill Branch 6 Amhurst Parade London N16 SAD Insurers Gallagher Insurance Brokers Ltd Watson Laurie House 232-236 St George$ Road Bolton BL1 2PH

TRUSTEES, REPORT TO THE MEMBERS OF MUSWELL HILL CENTRE Activities during the Year During the period 1sk April 2023 to 31sI March 2024, the following activities were undertaken.. Building maintenance and Improvements During the financial year, ￿MedIa[ and development work was undertaken at a total cost of £3.4K to MHC including". As custodian trustee. Haringey Council oversaw the damp proofing of the basement and the ground floor offiGe. Following the refurbishment of the boy's toilets. percussive taps have been installed to avoid ovefflows and prevent the possibility of flooding. The fire escape has been sandblasted and renovated Dèvelopments Development work on the MHC webstte continues with the objectives of making it easier for potential hirers to contact and engage with the Centre. Work continues to establish a secure Trustee online portal where documents can be stored and accessed An application for a grant in the sum of £9,000 was made to the Haringey Council carbon fund to underwrite the cost of a feasibility study to determine the cost and logistics of installing solar panels togeiher with a heat pump at the Centre. Regrettably. the application was unsuccessful. Nevertheless, the Trustees were most grateful for the assistance provided in developing the application by Tanuja Pandit and John Ackers of Power-up North London. The knowledge gained in respect of the MHC building and the measures that would appropriate to implement was very valuable because the matter will be revisited in the future. Strategic planning A full day strategic planning and govemance workshop. facilitated by the Red Ochre consultancy, was held at the Centre in September 2023 to optimise the strategic planning capabilities and functions of the Management Committee. Youth Club The Youlh Club commenced operations in November 2023 and. after a slow stsrt, attendance grèw steadily. The age of attendees ranges from 11 to 15 with most attendees lsving in Muswell Hill and surrounding areas. Facilities available for attendees to use and enjoy were updated and expanded following the receipt of a £5,0(K) grant from the Mayor's Office for Policing and Crime.

Charity Govemance A governance working group of Trustees was established to analyse the efficacy of th8 Charity's governan￿ prO￿d￿re8 and propose measures to optimise and embed operational best practice. This work is ryjrrentty on-going. Future Plans The Management Committee wtll continue to develop and extend the activities and usage of the Centre by improving the public profile of the Charity and its overall offering. TRUSTEE Appoi1￿ MENTS At the Annual General Meeting, held on the 9th January 2024. the composition of the Management Committee was revised as follows.. Elected Cllr. Eldridge CulveThvell was appointed as a Member of the Management Committee and a Trustee of the Charity Cllr. M. Isilar-Gosling was appointed as a Member of the Management Committee and a Trustee of the Charity Having been appointed as the Treasurer of the Managemenl Committee in June 2023, Mr. Vincent Benson was appointed as a Trustee of the Charity Re-elected Ms. H. Lyon was re-appointed as a Member of the Management Committee and a Trustse of the Charity Dr. R. Hare was re-appointed as a member of Ihe Management Committee, where he will serve as the Vice Chair, and as a Trustee of the Charity Ms. V. Palmer was re-appointed as Chair of the Management Committee and a Ttustse of the Charity Thanks Like most small charities, the MuSV￿11 Hill Centre relies on the unstinting effort of its volunteers including. but not limited to. the members of the Management Committee. A special mention of thanks must also be recorded to recognise the input of Emma Sogbodjor who resigned as the Centre Administrator at the end of the financial year. MHC is also indebted to PC Ahmed for his initiative and assistance in securing the aforementioned grant for the Youth Club.

POLICIES Policies adopted during the period 1s1 April 2023 to 31st March 2024 FINANCIAL CONTROLS POLICY The Management Committee adopted the following policy in respect of the above.. Introductlon Financial records are maintained so that the Muswell Hill Centre can= Meet both its statutory and constitutional obligations Enable the Management Committee to control the organisation's finances. Enable the organisation to meet Contractual obligations and the requirements of funding l)odiès. Draft accounts will be examined after the end of each financial year (31st March) by an exiemal entity and presented to the next annual general meeling (AGM). The Muswell Hill Centre will embrace best practs-ce al all times in respect of its financial processes and prO￿dureS including, when relevant, establishing and maintaining a fixed asset register with the date of purchase. historical cost, serial numbers and normal IoGation of the asset(s) being recorded as well as the accumulated depreciation appertaining thereto. An annual budget will be collated by the Treasurer in conjunction with the Finance Offi￿r once the draft annual Financial Statements have been prepared and approved by the external, independent Examinèr. Subsequent actual income and expenditure will be recorded against the budget projections and variances reported by the Treasurer at each meeting of the Management Committee. 1. Banking The bank mandate (the list of people who have been authorised to s￿n cheques on the organisation's behalfj will always be approved and minuted by the Management Committee. as will all changes to the bank mandate. The Muswell Hill Centre will require our designated bank to provide statèments each month and these will be reconciled with the cash book every month and signed off by the Treasurer. 2. Income Income will be iecorded in the accounts when the charity has a clear entitlement to receive the funds concerned based on the amoL5nt involved being measurable and there being an uncontested probability of receipt. All monies received will be recorded promptly in the cash analysis book and banked at the earliest opportunity. The organisation will maintain files of relevant documents, such as letters from funding bodies, to provide an accurate audit trail.

1. Expenditure The Treasurerl Finance Officer will be responsible for the safekeeping of all cheque books, whether used, unused or parts.ally used. These financial instruments will be kept under lock and key. In order to ensure that financial disciplin8 is fully observed at all tirnes, the same person must not be responsible for ordering, processing and checking invoices as well as raising cheque requisitions, signing cheques and making payments. Each cheque will be signed by at least two designated signatories. The relevant payee's name will always be inscribed on a cheque before being signed, and the relevant details (date, payee, amount) will always be rewrded on the cheque sttjb. Under no circumstances will blank theques be signed or counter signed. No cheques will be signed without original documentation being furnished (See 4). Money wll only be expended that meets the conditions and requirements of funding bodies and in pursuan￿ of the charitable obje￿iveS of the organisation. The Chair and Treasurer togetherwith one other committee member shall approve expenditure of more than £1.000.00. Such approvals must be duty documented, signed in accordance with the above stipulation, and reported at the next comTnittee meetiTrJ. Management Committee authorisation is obligatory for any expenditure in eX￿sS of £2,51Xl.
2. Payment documentation Each payment from the organisation's bank account must be supported by an original invoi {a statement or a final demand will not be deemed acceptable). The ortginal invoice will subsequently be manually filed or held digitally for a pèriod of six years. The person{s) signing the cheque must ensure that the Muswell Hill Cenlre cheque requisition slip is fully completed, including= . Cheque number Date cheque drawn . Amount of cheque . The name of the person who signed the cheque • The invoice to which each cheque relates

3. Petty cash Petty cash will always be maintained using the imprest system (a method of managing small cash expenses within a business or organisation) and managed by the Finance Officer. When the float is more or less expended. a cheque will be drawn for a sufficient amount to restore Ihe balance of the float to the agreed sum (currently £100.00). Expenditure will be analysed in the petty cashbook and supported by a complete set of vouchers and retsipts. totalling th8 amount spent. The cashbook will be signed off by the Treasurer monthly in arrears.

4. Othor undertakings Muswell Hill Centre will not accept liability for any financial commitment unless any such financial liability has been property authorised as previously stated above. All fund raising and grant applications initiated on behalf of Muswell Hill Centre will be carri8d out in the name of the organisation and with prior approval of the Chair or Management Committee. At the Management Committee meeting immediately prior to the financial year end, the Twstees will appoint an Independent Examiner to undertake the forthcoming examination. Committee members, volunteers and service providers will, at all times, act in the best interest of the organisation and will not divulge sensitive or confidential financial information to an unauthorised third paty under any arcumstances. RESERVES POLICY In accordance with the MHC standing policy for reserves, the charity will ring-fenGe the sum of £30,000, which is currenty part of the General Fund. to meet on-going liabilities in the event of income not being forthcoming as expected or anticipated for an extended period of time. Whilst the amount has not been, nor should be, designated because it is 2 Provision rather than a known or identifiable liability, it is considered prudent for a charity, such as MHC, which does not enjoy guaranleed income, to iecognise that the ¢ontinued provision of public benefit is an obligatr'on emanating from its charitable status that must always be delivered.

TRUSTEES. REPORT TO THE MEMBERS OF THE MUSWELL HILL CENTRE Statement of trustees, responsibilities Law applicable lo charities in England and Wales requires the trustees to prepare financial statement for each financial year, which give a true and fair view of Ihe charity's financial activities during the year and of its financial position at the end of the year. In preparing those fjnanrial sta18m8nts. the twstees are required to.. (a) {b) (c) select suitable accounting policies and apply them ¢onsistently- make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards and statements of recommended practice have been followed. subject to any departures disclosed and explained in the financial statements- (d) prepare the financial statements on a going concern basis unless it is inappropriato to presume that the charity will Gontinue in operation. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the finanual position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. Approval This report was approved by the trustees on 21st January 2025 and signed on their behalf by.. V Palrner Trustee

Muswell Hill Centre Charit), Number 303054 Independent Examiner's Report For the year ended 31st Iwtarch 2024 Page 10 report 011 the finaiicial statements for the year ended 3 1st March 2024 which are set oiit on pages Respective responsibilities nf trustees and examiner The charity's Iruslees are Ye8ponsible for the pi'epaLYlioii of the accounis. The charity's trustees eonsider ihal ali audil is not reqiiired for thi.s }iear {uiider section 144(2) of the Chai-ities Act 201 (the 201 l Act)) and that an indep¢iidcni examination is needed. l ani qualified io undertake the examination by being a qualfied membei. of tlie Institute of Chartered Accoiinlai)Is in England and Wales. It is Iny respoiisibility lo: examine the accoiints under section 145 of the 2011 Act. to folloiv the piDcedures laid down in the General Directions given by the Charity Commission under section 145(.5)(b) of the Acl 201 ]-: and to state ivhether particular matters have come to my attention. Basis of independent examiner's report My examinalion was cari'i¢d out in accoi'daiice ivith the Geiieral Direction5 givei) by the Chai'ity C.ommi5sion. An examination includes a revieiv of the accounling records kept by tlie charity nd a coinpai'ison of Ihe accounts presenled with those records. It also iiicludes consideralion of any unusual items or disclosurcs in the aeeounts, and seeking explanations trom yoii as Mistees coiiceming ai)y such matter.%. The procedures undeitakcn do not pi'ovide all tiie evidence that would be requii'ed in ali audit, aiid consequently no opinion is givcn as lo whether the accoiints preseiit a 'lrue and fair view, and the IEPnrt is limited to thosc matlei's set out in the statement beloTh'. llldependent examiner's statement 'I'he charity's gross inLuine exceedes £250,000 and tlie charity 15 therefore reqliired to have an independ¢n¢ examination. In connedion ivith my examination: no matei-ial matters have come to my attention ivhich give me caus¢ to believe that in, any inalerial respect: the accounting records were not kept in accoilance with section 130 of the 2011 Acl. or the accounts did not accord ivitli the accounting records. or the accounts did not comply with the applicable requirements concerning the form and content of accoiinls sel out in the Chai'ities (ALcounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'tru¢ and fail view which is not a niattei- Lonsidered as pait iran iiidependent examination. I liave coine across no other matters in connection with the examinatinn to ivhich attention should be di'awii in this irpoit iii order to enable a proper understanding nf the accoun15 to be reached. Bridget Kalloushi ACIE Independent Exaininer 6 LiiTrden Road London NIO 3DH 21 sl Jiinuai'5 2025

MUSWEIL HILL CENTRE BALANCE SHEET AS AT 31" March 2024 Current Assets 2024 2023 Debtors 264 Cash at Bank 117 867 TOTAL Current Li3bilities Creditors and Accruals 1,476 NEf CURRENT ASSETS 117,867 93.223 ACCUMULATED FUND Designated Fund 11.541 7,903 Unrestricted fund 106 326 TOTAL 117 867 Approved by the Management Commlttee V. BENSON Treasurer Date- 21°January 2025 li

MUSWELL HILL CENTRE STATEMENT OF FINANCALAcfiviTIES AS AT 31" MARCH 2024 INCOME Desl8natèd Unrestricted 2024 2023 Grants received 5,000 5.000 Income from hirers 57,840 57040 61,192 Other income Income from subscriptions 521 TOTAL EXPENDITURE Support costs 9,165 9,165 8,716 Water rates 452 452 366 Insurance 815 815 739 Heat. light & power 14,101 14.101 13.275 Telephone [phone] Repairs & renewals 3,398 3.398 11,571 Llcentes & affiliations 255 255 55 Caretaking 4,485 Cleaning & refuse disposal 6,951 6,951 6348 Governance 600 265 Office expenses 244 244 1.131 Accountancy fees 1,088 Youth Club expenses TOTAL 2,569 37.061 38.197 48.574 hTETIMOVEMENTIIV FUNDS 2.431 20.780 24.644 13.139

MUSWELL HILL CENTRE Notes to the atcounts for the year endlng 31 Marth 2924 l. Accounting policies The accounts have been prepared on a cash basi5 in accordance with SORP 2019 and FRS 102. 2. Grants A grant in the sum of £5,000 was recei￿d during the year from the Mayorfs Office for Polldng and Crlme. 3. Analysis of Net Asse(s Whilst virtually all of the income from MHC'S hiring activities durinB the year was received via bznk transfers. payment to suppliers and service providers was made by cheque whlch, due to cheques belng lost or not delivered has given rise to the need to cancel cheques and issue replacements. Such inefficiency is time consuming and costly. CorGequEntly, next year MHC will move to online banking which will provide a degrèe of control over payment5 which is currently lacking. In readiness for the forthcoming change, this yearfs accounts have, as spetified above, been prepared on a cash basis ratherthan an accrued basis. Given the low level of income and expenditure, cash accounting will be MO￿ appropiiate for MHC in the future. This departure from current practice will r)ecessltate the Flnanclal Controls pollcy being revised next year. 4. Designated Funds Balance 3113123 Incoming OutgoSng Balance 31/3124 Youth Prolett 5,025 2,569 7,456 Community artivities TOTAL 5. Credltors and accruals 2024 2D23 Support costs 150 Accountancrf/examination 875 1.088 Hire income 195 TOTAL 875 1.433 13

6 Debtors and prepayments 2024 2023 Castle Watsr 184 Deferred Income 80 TOTAL 264 14