Charity registration number 303332
Samuel Montagu Youth Centre
Financial Statements
Year ended 31 March 2022
Samuel Montagu Youth Centre Report and accounts Contents
| Page | |
|---|---|
| Legal and administrative information | 1 |
| Report of the trustees | 2 |
| Report of the independent examiners | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Cash flow statement | 10 |
| Notes to the financial statements | 11 |
Samuel Montagu Youth Centre Financial Statements for the year ended 31 March 2022
| Registered charity | |
|---|---|
| number | 303332 |
| Registered office | 122 Broad Walk |
| London | |
| SE3 8ND | |
| Trustees | Dr Terry Alan Powley |
| Mr Stephen James | |
| Mr Clive Efford MP | |
| Mr David Stevenson | |
| Cllr Odette McGahey | |
| Bankers | HSBC Bank plc |
| 38 High St, Dartford | |
| DA1 1DG | |
| HSBC Investments | |
| 78 St James's Street | |
| London | |
| SW1A 1HL | |
| Independent Examiners | Michael Adamson and Co |
| 21 The Drive | |
| Hullbridge | |
| Hockley | |
| Essex SS5 6LZ |
1
Report of the Trustees to the members of Samuel Montagu Youth Centre
The Trustees present their annual report and the financial statements for the year ended 31 March 2022.
Governing documents
Samuel Montagu Youth Centre (SMYC) is a registered charity and it is governed by the Deed of Trust dated 25 May 1961 as amended by supplemental deeds dated 11 June 1999 and 30 April 2002.
Objects of the charity, principal activities and organisation of our work
The Charity's object and the principal activities continue to be that of providing or assisting with the provision of facilities for recreation, education and other leisure time activities by the delivery of services to those living in and around the Royal Borough of Greenwich, which it has done for over fifty years by offering:
-
a youth centre which meets the variety of needs presented by young people;
-
a community centre, which responds to the needs of other sections of the community and brings the Centre into use for the continued benefit of community groups; and
-
a sports facility, which makes the specialist facilities of SMYC available to all groups in the Community and the London Borough of Greenwich.
The provision of facilities are for public benefit for which the community has need by reason of their youth, special needs, social and particularly economic circumstances which will improve the quality of life for such by promoting their physical and mental well being. Activities are undertaken in a manner which respects individuals and empowers them to take an active role in the running of the scheme.
SMYC Vision, mission and aims
The SMYC Vision is to work continually with the community in achieving a modern, vibrant and welcoming centre, that is fit for purpose, with a focus of supporting local communities to grow and achieve.
The SMYC Mission Statement is:
“Working together to develop the best facilities and initiatives for the continued benefit of young people and local communities”
SMYC Charity’s Aims
-
Support and motivate young people to achieve their full potential, by giving them opportunities to have enjoyable, meaningful experiences and to learn skills in order to make a positive difference in their lives.
-
Support local communities to participate in sports and physical activities, by providing high quality and affordable facilities and sports development programmes.
-
Support local people to engage in their local communities and create a productive, safe and caring environment for people to live, work and study.
2
Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)
Structure, Governance and Management
The Charity is organised so that the Trustees are responsible for its overall governance within the terms of the Charity’s Trust Deed but delegates operational delivery issues to the Centre Director, Tuan Pham, to make decisions in accordance with policies and procedures approved by the Trustees.
The Centre has an extensive networking capacity through affiliation to the Federation of London Youth Clubs, UK Youth (previously known as Clubs for Young People), the Football Association and the Amateur Boxing Association and locally Greenwich Action for Voluntary Service.
The trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit when deciding what activities the charity should undertake.
Activities, development and achievements for this year
This year, Samuel Montagu opened its services fully after the disruptions of the Covid pandemic. We have started delivering indoor activities and opened the main building for community use. We have worked hard with staff and partners, to ensure that the centre is ran effectively to minimise the spread of covid and ensure that all staff and centre users’ exposure to viruses is kept to a minimum.
In December 2021, due to Omicron variant and Government recommendations to work from home, we had to cancel all activities and bookings for this period.
Throughout this year, we have focused on increasing our bookings to get it back to pre-pandemic levels. Worked with new partners to develop new sports opportunities for young people and improve the facilities for community groups usage.
Maintenance and building works
The main worked carried out this year was the repairs to the buildings hot water and heating system. This included new water tank installation, having 2 new pumps installed and converting water supply to a sealed system. This placed the charity under some financial strain but through careful budget planning, we manage to spread the cost of the works through a payment plan.
Other major maintenance works carried out was the artificial grass pitch flood lights and repairs to the playing surface.
Alternative Education Provision
Wise up Education have finalised all their preparations at our centre and have started their first term in September 2021. The students and teachers have gotten accustomed to the building and have started to establish themselves in the new space.
Projects
Youth
Our open access youth club have started to open again for all young people to attend. The youth club sessions are on Tuesday and Thursday evenings and host a range of activities for young people to engage with.
3
Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)
Women’s
Women’s fitness started again in May 2021, the class still going strong, and we managed to retain many previous members as well as engaging new participants. The women’s fitness sessions continue to work with all female groups, with a particular focus of engaging those who are less active.
Boxing
Samuel Montagu Amateur Boxing Club remains open to deliver the youth boxing sessions twice and week. We are seeing a return of young people engaging in the boxing sessions and we continue to work with the club to develop their sessions.
We have engaged with a new organisation ‘Honour and Glory’ to improve our boxing offer and increase overall participation in boxing at the centre. We have been working closely with Honour and Glory to make big improvements to the boxing gym and upper training space. The boxing facilities are now much more appealing, and the weights training space is now functional. We now continue to work with the two clubs to promote and develop boxing to young people and other community groups.
Beach Volleyball
The beach volley club (Fireball Beach Volleyball Club) has seen a steady growth in its users. With the offer of additional training sessions for young people and different community groups, the sport has seen a good level of take up from new participants. With new links to the elite beach volleyball teams and the hosting of different events, the venue is becoming an established place for beach volleyball.
Football Club
Samuel Montagu Football Club is running at full capacity and continues to offer good football opportunities for children and young people. The football club is now a well-established football club and attracts high numbers of players within their teams. We are working with the club to develop the girls football sessions and encourage more girls to participate in football.
Other Sports Clubs
We have engaged a new Jiu Jitsu club, which will be starting in January 2022. The club will be running two nights a week. With the start of this new club, offers young people more opportunities to engage to different types of sport and promotes physical exercise.
Development plans for the centre
The main objective for the Charity remains to be the increase the centre’s bookings and support our associated clubs to develop their services and increase participation.
A big focus will be on developing the youth provision by increasing our youth club membership and developing a wider range of youth club activities and sessions. This will require securing external grants to cover the additional staffing costs and activity costs.
We will continue to support our partners and associated sports club, to identify new opportunities to increase existing services within the community.
Working with all of our partners, we will develop our support services to create a more in-depth service for identified individuals with additional needs.
4
Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)
Transactions and financial position
Transactions for the year and balances at the year-end are shown in the accounts on pages 8 to 15 attached
Tangible fixed assets for use by the Charity
Details of movements in fixed assets are set out in note 9 to the accounts
Investment policy and returns
Under the constitution, the Charity has the power to make any investment which the Trustees see fit. At present, no funds have been invested by the Trustees.
Reserves
The Trustees are conscious of the need to build unrestricted reserves equivalent to three months operational costs, currently £50K in addition to designating staffing funds (currently £15K). This is as outlined in the SMYC reserves policy which is reviewed annually by the Trustees.
Trustees
All of the Trustees named on page 1 served throughout the year.
Risk management
The Trustees actively review the major risks which the Charity faces on a regular basis in accordance with the SMYC Risk Management Policy and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse operating conditions.
The Trustees are satisfied that adequate Health & Safety, Risk Assessment policies, and Employers and Public Liability insurance cover are in place.
The Trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate any significant risk.
Statement of trustees responsibilities
The Trustees are required by law to prepare financial statements for each year which give a true and fair view of the financial activities of the Charity and its financial position at the end of the year.
In preparing those financial statements the Trustees are required to:
-
select suitable accounting policies and apply them consistently;
-
make judgements and estimates that are reasonable and prudent;
5
Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)
-
state whether the policies adopted are in accordance with the Charities Act 2011 and with applicable accounting standards and statements of recommended practice, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to assume the charity will continue in operation
A resolution proposing Michael Adamson and Co be re-appointed as independent examiners of the charity was put to the governing body.
Approval
The report was approved by the Board of Trustees and signed on its behalf
on _____ Trustee ________
Dr T Powley
Trustee ________
Clive Efford MP
6
Samuel Montagu Youth Centre
Report of the Independent Examiners to the Members of Samuel Montagu Youth Centre
We have examined the financial statements on pages 8 to 15 for the year ended 31 March 2022, which have been prepared under the accounting policies set out on page 11.
Respective responsibilities of the trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
It is our responsibility to:
-
examine the accounts under section 142 of the Charities Act,;
-
to follow the procedures laid down in the general Directions given by the
-
Charity Commission under section 145(5)(b) of the Charities Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. 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 you as trustees concerning any such matters.
The procedures undertaken do not provide all the evidence that would be required in an audit and consequently we do not express an audit opinion on the veiw given by the accounts.
Independent examiner's statement
In connection with our examination, no matter has come to our attention:
- which gives us reasonable cause to believe that in any material respect the requirements
(a) to keep accounting records in accordance with section 130 of the Charities Act; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act, have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Michael Adamson and Co Chartered Accountants
21 The Drive Hullbridge Hockley SS5 6LZ
Date:
7
Samuel Montagu Youth Centre Statement of financial activities for the year ended 31 March 2022
| Restricted Unrestricted Notes funds funds 2022 Income and expenditure £ £ £ Incoming resources Grants receivable 2 35,045 67,567 102,612 Investment income 3 - - - Other incoming resources 4 - 94,093 94,093 Total incoming resources 35,045 161,660 196,705 Resources expended Cost of generating funds Direct charitable expenditure 5 35,045 129,397 164,442 Governance costs 1,6,7 - 940 940 Total expenditure 35,045 130,337 165,382 - 31,323 31,323 Statement of other recognised gains and losses Net (outgoing)/incoming resources before other recognised gains - Net movement in funds 7 - 31,323 31,323 Total funds brought forward - 1,225,473 1,225,473 Total funds carried forward - 1,256,796 1,256,796 Net incoming resources for the year |
2021 £ 161,274 1 55,624 |
|---|---|
| 216,899 | |
| 148,547 887 |
|
| 149,434 | |
| 67,465 | |
| 67,465 1,158,008 |
|
| 1,225,473 |
The surplus for the year represents the total recognised gains for the period.
None of the charity's activities were aquired or discontinued during the current or previous year.
The attached notes form part of these accounts.
8
Samuel Montagu Youth Centre Balance Sheet as at 31 March 2022
| Notes | 2022 | 2021 | ||
|---|---|---|---|---|
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 9 | 1,080,625 | 1,080,730 | |
| Current assets | ||||
| Debtors | 10 | 61,106 | 62,358 | |
| Cash at bank and in hand | 116,573 | 84,878 | ||
| 177,679 | 147,236 | |||
| Creditors: amounts falling due | ||||
| within one year | 11 | (1,508) | (2,493) | |
| Net current assets | 176,171 | 144,743 | ||
| Net assets | 1,256,796 | 1,225,473 | ||
| Funds | ||||
| Unrestricted funds | ||||
| Revaulation reserve | 13 | 918,873 | 918,873 | |
| General funds | 13 | 337,923 | 306,600 | |
| 1,256,796 | 1,225,473 | |||
| Approved by the trustees on | and | signed on their | behalf. | |
| Trustee ……………………………………………. | Date ……………………………………… | |||
| Dr T. Powley | ||||
| Trustee …………..……………..……………………. | Date ……………………………………… | |||
| Clive Efford MP |
The attached notes form part of these accounts
9
Samuel Montagu Youth Centre Cash Flow Statement for the year ended 31 March 2022
| Samuel Montagu Youth Centre Cash Flow Statement for the year ended 31 March 2022 |
||
|---|---|---|
| Net cash used in operating activities 15 Cash flows from investing activities Interest received Change in cash and cash equivalents in the period Cash and cash equivalents brought forward Cash at bank and in hand less overdrafts at 31 March Consisting of: Cash at bank and in hand |
Total funds 2022 £ 31,695 - 31,695 84,878 116,573 116,573 |
Total funds 2021 £ 73,404 1 73,405 11,473 |
| 84,878 | ||
| 84,878 |
The attached notes form part of these accounts
10
Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2022
1 Accounting policies
Basis of preparation of accounts
The financial statements have been prepared under the historical cost convention, and are in accordance the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective January 2019 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
Incoming resources
Voluntary income and donations are included in incoming resourses when they are receivable, except when the doners specify that they must be used in future accounting periods or donors conditions have not been fulfilled, then income is deferred. The income from fees is recorded gross.
Grants receivable
Grants receivable are recorded on the accruals basis.
Resources expended
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered.
Expenditure which is directly attributable to specific activities have been included in these cost categories. Where costs are attributable to more than one activity, they have been apportioned across the cost categories on a basis consistent with the use of these resources.
Depreciation
Tangible fixed assets are stated at cost less depreciation.
Depreciation is provided on all fixed assets at rates calculated to write off the cost on a straight line basis over their useful economic lives as follow:
Equipment
10% straight line
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
Governance costs
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fees and costs linked to the stretegic management of the charity.
Value added tax
Value added tax is not recoverable by the charity, and as such is included in the relevant cost in the Statement of Financial Activities.
11
Samuel Montagu Youth Centre Notes to the Accounts
for the year ended 31 March 2022
2 Grants receivable and donations
| Royal Borough of Greenwich - SLA Royal Borough of Greenwich - Business support and COVID 19 grants Hoare Jack Petchey Foundation London Youth Sports England HMRC Job Retention Scheme Neibourhood Growth Other grants and donations Samuel Montagu Facilities Limited 3 Investment income Bank interest received 4 Other incoming resources Tuck shop income Subscriptions Fundraising income Other income Rental income 5 Direct charitable expenditure Grounds and premises expenses Water rates Insurance Salaries, wages and pension contributions Staff training Print, post, stationery and telephone Computer expenses Cleaning and sanitation Motor and travelling expenses Affiliation and licence fees Sundries Tuck shop expenses Youth club expenses Accountancy fees |
Restricted funds £ - - 15,300 1,700 3,000 10,000 - 4,000 1,045 - 35,045 Restricted funds £ - Restricted funds £ - - - - - - Restricted funds £ - - - 33,345 - - - - - - - - 1,700 - 35,045 |
Unrestricted funds £ - 30,800 - - - - 18,767 - - 18,000 67,567 Unrestricted funds £ - Unrestricted funds £ 2 575 , - - - 91,518 94,093 Unrestricted funds £ 31,616 3,721 8,292 67,517 239 319 1,400 2,325 1 752 150 2,446 10,619 - 129,397 |
2022 £ - 30,800 15,300 1,700 3,000 10,000 18,767 4,000 1,045 18,000 102,612 2022 £ - 2022 £ 2 575 , - - - 91,518 94,093 2022 £ 31,616 3,721 8,292 100,862 239 319 1,400 2,325 1 752 150 2,446 12,319 - 164,442 |
2021 £ - 50,571 40,000 1,000 - 11,080 57,623 - 1,000 - |
|
|---|---|---|---|---|---|
| 161,274 | |||||
| 2021 £ 1 |
|||||
| 2021 £ 1 207 , - - - 54,417 |
|||||
| 55,624 | |||||
| 2021 £ 43,106 2,166 7,675 86,094 - 500 1,315 2,299 5 483 472 629 3,803 - |
|||||
| 148,547 |
12
Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2022
6 Governance costs
| Bank charges Independent examiner's fee Depreciation Net movement in funds for the year The net movement is after charging: Depreciation of tangible fixed assets Independent examiner's fee |
Restricted funds £ - - - - |
Unrestricted funds £ 85 750 105 940 |
2022 £ 85 750 105 940 2022 £ 105 750 |
2021 £ 32 750 105 |
|
|---|---|---|---|---|---|
| 887 | |||||
| 2021 £ 105 750 |
7 Net movement in funds for the year
8 Staff costs
No remuneration was paid to trustees. The staff costs of the remaining staff were:
| Wages and salaries Pension costs Social security costs |
2022 £ 95,405 2,322 3,135 100,862 |
2021 £ 82,577 1,747 1,770 |
|---|---|---|
| 86,094 |
The average weekly number of staff employed, calculated as full time equivalents during the year was as follows:
| Direct charitable work Governance costs |
2022 3 2 5 |
2021 3 2 |
|---|---|---|
| 5 |
No employee received remuneration of more than £60,000.
Remuneration to key management personnel in the year amounted to £35,082 (2021 : £31,603)
9 Tangible fixed assets
| Cost At 1 April 2021 At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Freehold land and buildings £ 1,080,000 1,080,000 - - - 1,080,000 1,080,000 |
Equipment £ 32,288 32,288 31,558 105 31,663 625 730 |
£ 1,112,288 |
|---|---|---|---|
| 1,112,288 | |||
| 31,558 105 |
|||
| 31,663 | |||
| 1,080,625 | |||
| 1,080,730 |
13
Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2022
10 Debtors
| Trade debtors Other debtors |
2022 £ 4,396 56,710 61,106 |
2021 £ 3,667 58,691 |
|---|---|---|
| 62,358 |
11 Creditors : amounts falling due within one year
| Trade creditors Accruals Analysis of net assets between funds Tangible fixed assets Net current assets Movement in funds Restricted funds Unrestricted funds Revaluation reserve General funds Total unrestricted funds Total funds Restricted funds Unrestricted funds Revaluation reserve General funds Total unrestricted funds Total funds |
Trade creditors Accruals Analysis of net assets between funds Tangible fixed assets Net current assets Movement in funds Restricted funds Unrestricted funds Revaluation reserve General funds Total unrestricted funds Total funds Restricted funds Unrestricted funds Revaluation reserve General funds Total unrestricted funds Total funds |
At 1 April 2021 £ - 918,873 306,600 1,225,473 1,225,473 At 1 April 2020 £ - 918,873 239,135 1,158,008 1,158,008 |
Restricted funds £ - - - Incoming resources £ 35,045 - 161,660 161,660 196,705 Incoming resources £ 13,080 - 203,819 203,819 216,899 |
2022 £ 413 1,095 1,508 Unrestricted funds £ 1,080,625 176,171 1,256,796 Outgoing resources £ 35,045 - 130,337 130,337 165,382 Outgoing resources £ 13,080 - 136,354 136,354 149,434 |
2021 £ 1,742 751 |
||
|---|---|---|---|---|---|---|---|
| 2,493 | |||||||
| Total £ 1,080,625 176,171 |
|||||||
| 1,256,796 | |||||||
| At 31 March 2022 |
|||||||
| £ - |
|||||||
| 918,873 337,923 |
|||||||
| 1,256,796 | |||||||
| 1,256,796 | |||||||
| At 31 March 2021 |
|||||||
| £ - |
|||||||
| 918,873 306,600 |
|||||||
| 1,225,473 | |||||||
| 1,225,473 |
12 Analysis of net assets between funds
13 Movement in funds
14
Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2022
14 Comparative Statement of Financial Activities
| Notes Income and expenditure Incoming resources Grants receivable 2 Investment income 3 Other incoming resources 4 Total incoming resources Resources expended Cost of generating funds Direct charitable expenditure 5 Governance costs 1,6,7 Total expenditure Net (outgoing)/incoming resources for the year Statement of other recognised gains and losses Net incoming resources before other recognised gains - N t t i f d 7 e movemen n un s Total funds brought forward Total funds carried forward |
Restricted 2021 £ 13,080 - - 13,080 13,080 - 13,080 - - - - |
Unrestricted 2021 £ 148,194 1 55,624 203,819 135,467 887 136,354 67,465 67 465 , 1,158,008 1,225,473 |
Total 2021 £ 161,274 1 55,624 |
|---|---|---|---|
| 216,899 | |||
| 148,547 887 |
|||
| 149,434 | |||
| 67,465 | |||
| 67 465 , 1,158,008 |
|||
| 1,225,473 |
15 Reconciliation of net movements in funds to net cash flow from operating activities
| Net movement in funds Add back depreciation Less interest received Decrease / (increase) in debtors Increase / (decrease) in creditors Net cash used in operating activities |
2022 £ 31,323 105 - 1,252 (985) 31,695 |
2021 £ 67,465 105 (1) 4,326 1,509 |
|---|---|---|
| 73,404 |
15