Charity registration number 303332
Samuel Montagu Youth Centre
Financial Statements
Year ended 31 March 2024
## **Samuel Montagu Youth Centre Report and accounts Contents**
||**Page**|
|---|---|
|Legal and administrative information|1|
|Report of the trustees|2|
|Report of the independent examiners|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Cash flow statement|9|
|Notes to the financial statements|10|
## **Samuel Montagu Youth Centre Financial Statements for the year ended 31 March 2024**
**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 Clr 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 23 Helena Road Rayleigh Essex SS6 8LN
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 2024.
## **Governing documents**
Samuel Montagu Youth Centre 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 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.
## **New 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.
## **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.
2
## **Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)**
## **Activities, development and achievements for this year**
SMYC has successfully achieved another year of high engagement levels for people in sports and physical activities. This year we saw a 20% increase overall, across all of our sessions, services and clubs' activities. The biggest increase in attendance is by young people engaging in various youth club activities and sports sessions delivered by SMYC.
SMYC continues to steadily develop its services to local communities and form new partnerships and networks to further increase our reach. With a partnership formed with Turning Pages Community Centre, we are offering additional youth and sports sessions to young people from neighbouring wards within Greenwich.
With the continued high costs of energy prices and food products, the Cost-of-Living crisis is still felt by many of our members. With support from The Royal Borough of Greenwich, we were able to provide additional resources and services, to support our local community groups to get through this extended difficult period.
## Maintenance and building works
We are still faced with one of our biggest maintenance works to date. The Artificial Grass Pitch, which needs complete resurfacing works. A fundraising programme has started to raise the required funds to cover the cost of the resurfacing works. The funding strategy started with our crowdfunding campaign, that is shared on various online platforms. We seek suitable national and local award grants to apply for contributions to the funds and donations from commercial businesses.
This year the Charity managed to repair the sports garage roof and the rear steps of the building, which has transformed the space into a more appealing space for community groups to use and access the building.
## Alternative Education Provision
Wize-up Education have successfully completed their third year of operations at our Centre. We continue to support Wize-up Education to develop their services and provide a good service for those out of mainstream education.
## Projects
## Youth Club
With the increase to our open access youth club, the Centre engages high numbers of young people each night. With the increase in numbers, our sessions have also increased to meet the demands. We have introduced two new multi sports sessions to promote health and physical activity to young people.
## Women’s
Women’s Fitness Project continues to be a fundamental offer to promote women into sports and engage women who are less active. The session remains strong with a good core group of women and girls who regularly participate in the fitness session on a weekly basis.
The free sessions continue to offer women and girls the opportunity to remain active, enjoy getting together and meeting new people and to help encourage women and girls who are less active to take part in physical activities.
## Boxing
The two boxing clubs remains to be a popular offer with young people. Both clubs have a steady increase of members enrolled. The club has diversified their offer and delivered a targeted mental health programme. The project uses boxing as a tool to engage people facing personal difficulties and experiencing mental health issues. The class provided people with the means to refocus and improve the mental resilience through tailored boxing exercise programmes. The clubs have also worked with local schools, to offer students taster sessions and introduce them to the sport.
## Beach Volleyball
The beach volley club (Fireball Beach Volleyball Club) continue to develop Beach Volleyball in South East England. They have delivered various events, tournaments and training sessions. Their focus is to promote and engage more young people into the sport through delivering a series of training sessions and development courses.
3
**Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)**
## Jiu Jitsu
The Jiu Jitsu club resumed their lessons, and the club is providing two nights of training. We are actively working with the club to develop and increase their membership.
## Table Tennis
Table tennis proves to be popular with the community groups and young people. The club has successfully achieved a good number of members and delivered a number of tournaments with a good representation from women and young people.
## Football Club
Samuel Montagu Football Club continues to operate at full capacity. The club have achieved registering14 teams for the season. We continue to work with the football club to support their growth and maximise the usage on the football pitches.
## Development plans for the centre
We are looking to further increase our youth service delivery and offer targeted youth sessions within areas identified with higher needs. Working in partnership with other community youth centres, we are able to provide joint youth and sports provisions across multiple sites. Focus areas on youth delivery will include
- A more targeted youth project to deliver targeted youth support and help reduce levels of young
- people engaging in risky behaviour and criminal activities.
- Residential experiences for young people to explore more of the country and gain meaningful life
- experiences.
- Training and volunteering opportunities, to achieve valuable work replated experience, skills and
- qualifications.
Community engagement, to increase local engagement within the centre and awareness of the charity's work and the services on offer by all of our partner groups.
## **Transactions and financial position**
Transactions for the year and balances at the year-end are shown in the accounts on pages 7 to 14 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 £25K). 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
4
## **Report of the Trustees to the members of Samuel Montagu Youth Centre (cont.)**
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:
1. select suitable accounting policies and apply them consistently;
2. make judgements and estimates that are reasonable and prudent;
3. 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;
4. 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
5
## **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 7 to 14 for the year ended 31 March 2024, which have been prepared under the accounting policies set out on page 10.
## **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
- 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:
1. 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
2. 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
23 Helena Road Rayleigh Essex SS6 8LN
Date:
6
## **Samuel Montagu Youth Centre Statement of financial activities for the year ended 31 March 2024**
|**Restricted**
**Unrestricted**
**Notes**
**funds**
**funds**
**2024**
**Income and expenditure**
**£**
**£**
**£**
**Incoming resources**
Grants receivable
2
45,956
59,150
105,106
Investment income
3
-
4,672
4,672
Other incoming resources
4
-
144,233
144,233
**Total incoming resources**
45,956
208,055
254,011
**Resources expended**
**Cost of generating funds**
Direct charitable expenditure
5
63,816
137,104
200,920
Governance costs
1,6,7
-
1,096
1,096
**Total expenditure**
63,816
138,200
202,016
(17,860)
69,855
51,995
**Statement of other recognised gains and losses**
Net (outgoing)/incoming resources before
other recognised gains -
Net movement in funds
7
(17,860)
69,855
51,995
Total funds brought forward
17,860
1,298,904
1,316,764
**Total funds carried forward**
-
1,368,759
1,368,759
**Net incoming/ (outgoing) resources for**
**the year**|**2023**
**£**
108,500
219
117,938|
|---|---|
||226,657|
||165,609
1,080|
||166,689|
||59,968|
||59,968
1,256,796|
||1,316,764|
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.
7
## **Samuel Montagu Youth Centre Balance Sheet as at 31 March 2024**
||**Notes**||**2024**|**2023**|
|---|---|---|---|---|
||||**£**|**£**|
|**Fixed assets**|||||
|Tangible assets|9||1,080,415|1,080,520|
|**Current assets**|||||
|Debtors|10|116,086||79,551|
|Cash at bank and in hand||173,828||160,433|
|||289,914||239,984|
|**Creditors: amounts falling due**|||||
|**within one year**|11|(1,570)||(3,740)|
|**Net current assets**|||288,344|236,244|
|**Net assets**|||1,368,759|1,316,764|
|**Funds**|||||
|**Restricted funds**|13||-|17,860|
|**Unrestricted funds**|||||
|Revaulation reserve|13||918,873|918,873|
|General funds|13||449,886|380,031|
||||1,368,759|1,316,764|
|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
8
## **Samuel Montagu Youth Centre Cash Flow Statement for the year ended 31 March 2024**
|**Samuel Montagu Youth Centre**
**Cash Flow Statement**
**for the year ended 31 March 2024**|||
|---|---|---|
|**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**
**2024**
**£**
8,723
4,672
13,395
160,433
173,828
173,828|**Total funds**
**2023**
**£**
43,641
219
43,860
116,573|
|||160,433|
|||160,433|
The attached notes form part of these accounts
9
**Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2024**
## **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.
10
## **Samuel Montagu Youth Centre Notes to the Accounts**
**for the year ended 31 March 2024**
## **2 Grants receivable and donations**
|Royal Borough of Greenwich
Football Foundation
Jack Petchey Foundation
London Youth
Sports England/L&Q
Peter Harrison Foundation
National Lottery
National Grid
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
Light and heat
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
Activities
Bad debts
Legal and professional||**Restricted**
**funds**
**£**
40,036
1,620
4,300
-
-
-
-
-
-
-
45,956
**Restricted**
**funds**
**£**
-
**Restricted**
**funds**
**£**
-
-
-
-
-
-
**Restricted**
**funds**
**£**
-
-
-
45,061
-
-
-
-
-
-
-
-
18,755
-
63,816|**Unrestricted**
**funds**
**£**
-
-
-
-
-
-
-
-
-
59,150
59,150
**Unrestricted**
**funds**
**£**
4,672
**Unrestricted**
**funds**
**£**
3,995
-
-
445
139,793
144,233
**Unrestricted**
**funds**
**£**
26,995
2,581
3,688
14,524
74,859
160
268
1,690
3,793
2,681
1,886
2,380
1,264
240
95
137,104|**2024**
**£**
40,036
1,620
4,300
-
-
-
-
-
-
59,150
105,106
**2024**
**£**
4,672
**2024**
**£**
3,995
-
-
445
139,793
144,233
**2024**
**£**
26,995
2,581
3,688
14,524
119,920
160
268
1,690
3,793
-
2,681
1,886
2,380
20,019
240
95
200,920|**2023**
**£**
-
-
2,800
1,500
10,000
19,300
10,000
20,000
3,500
41,400|
|---|---|---|---|---|---|
|||||||
||||||108,500|
||||||**2023**
**£**
219|
|||||||
||||||**2023**
**£**
2,822
-
-
6,413
108,703|
|||||||
||||||117,938|
||||||**2023**
**£**
25,846
2,290
-
9,027
104,167
917
162
1,595
3,171
-
789
400
1,930
14,466
540
309|
|||||||
||||||165,609|
11
## **Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2024**
## **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**
**£**
191
800
105
1,096|**2024**
**£**
191
800
105
1,096
**2024**
**£**
105
750|**2023**
**£**
175
800
105|
|---|---|---|---|---|---|
|||||||
||||||1,080|
||||||**2023**
**£**
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|**2024**
**£**
112,175
2,850
4,895
119,920|**2023**
**£**
98,710
2,322
3,135|
|---|---|---|
|||104,167|
The average weekly number of staff employed, calculated as full time equivalents during the year was as follows:
|Direct charitable work
Governance costs|**2024**
3
2
5|**2023**
3
2|
|---|---|---|
|||5|
No employee received remuneration of more than £60,000.
Remuneration to key management personnel in the year amounted to £39,909 (2023 : £35,082)
## **9 Tangible fixed assets**
|**Cost**
At 1 April 2023
At 31 March 2024
**Depreciation**
At 1 April 2023
Charge for the year
At 31 March 2024
**Net book value**
At 31 March 2024
At 31 March 2023|**Freehold**
**land and**
**buildings**
**£**
1,080,000
1,080,000
-
-
-
1,080,000
1,080,000|**Equipment**
**£**
32,288
32,288
31,768
105
31,873
415
520|**£**
1,112,288|
|---|---|---|---|
||||1,112,288|
||||31,768
105|
||||31,873|
||||1,080,415|
||||1,080,520|
12
## **Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2024**
## **10 Debtors**
|Trade debtors
Other debtors|**2024**
**£**
5,997
110,089
116,086|**2023**
**£**
3,441
76,110|
|---|---|---|
|||79,551|
## **11 Creditors : amounts falling due within one year**
|Trade creditors
Other taxes and social security costs
Accruals|**2024**
**£**
60
4
1,506
1,570|**2023**
**£**
1,687
-
2,053|
|---|---|---|
|||3,740|
## **12 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 2023**
**£**
17,860
918,873
380,031
1,298,904
1,316,764
**At**
**1 April 2022**
**£**
-
918,873
337,923
1,256,796
1,256,796||**Restricted**
**funds**
**£**
-
-
-
**Incoming**
**resources**
**£**
45,956
-
208,055
208,055
254,011
**Incoming**
**resources**
**£**
67,100
-
159,557
159,557
226,657||**Unrestricted**
**funds**
**£**
1,080,415
288,344
1,368,759
**Outgoing**
**resources**
**£**
63,816
-
138,200
138,200
202,016
**Outgoing**
**resources**
**£**
49,240
-
117,449
117,449
166,689|**Total**
**£**
1,080,415
288,344|
|---|---|---|---|---|---|---|---|
|||||||||
||||||||1,368,759|
||||||||**At**
**31 March 2024**|
||||||||**£**
-|
||||||||918,873
449,886|
||||||||1,368,759|
||||||||1,368,759|
||||||||**At**
**31 March 2023**|
||||||||**£**
17,860|
||||||||918,873
380,031|
||||||||1,298,904|
||||||||1,316,764|
## **13 Movement in funds**
13
## **Samuel Montagu Youth Centre Notes to the Accounts for the year ended 31 March 2024**
## **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 incoming resources for the**
**year**
**Statement of other recognised gains and losses**
Net incoming resources before
other recognised gains -
Net movement in funds
7
Total funds brought forward
**Total funds carried forward**|**Restricted**
**2023**
**£**
67,100
-
-
67,100
49,240
-
49,240
17,860
17,860
-
17,860|**Unrestricted**
**2023**
**£**
41,400
219
117,938
159,557
116,369
1,080
117,449
42,108
42,108
1,256,796
1,298,904|**Total**
**2023**
**£**
108,500
219
117,938|
|---|---|---|---|
||||226,657|
||||165,609
1,080|
||||166,689|
||||59,968|
||||59,968
1,256,796|
||||1,316,764|
## **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|**2024**
**£**
51,995
105
(4,672)
(36,535)
(2,170)
8,723|**2023**
**£**
59,968
105
(219)
(18,445)
2,232|
|---|---|---|
|||43,641|
14