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.

3. 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.
4. 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
5. 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.

6. 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
416
416
535
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