Charity registralion number 303332 Samuel Montagu Youth Centre Financial Statements Year ended 31 March 2025 Samuel Montagu Youth Centre Report and accounts Contents Page Legal and administrative information Report of the trustees Report of the independent examiners Statement of financial activities Balance sheet Cash flLNV ststement Notes to the financial statements 10 Sarnuel Montagu Youth Centre Financial Ststèmènts for the year ended 31 March 2025 Reglstered charlty number 303332 R09isterod office 122 Broad W85k London SE3 8ND Trustees Dr Terry Alan Powley Mr Stephen James Mr Clive Efford MP Mr David Stevenson Clr Odette McGahey Bankern HSBC Bank plc 38 High St, Dartford DA1 1DG HSBC Investments 78 St James's Street London SW1A 1HL Independent Examln•rn Michael Adamson and Co 5 Thorndon Park Close Leigh on Sea Essex SS9 4RH Samuel Montagu Youth Centre Report of the Independent Examiners to the Members of Samuel Montagu Youth Centre We have exarnined the financial statements on pages 7 to 14 for Ihe year ended 31 March 2025, which have been prepared under the accounting policies Set out on page 10. Respective responslbllltl88 of the trustees and examlner The charity's Irustees are responsible for the preparation of the accounts. The charity's tnjstees consider that an audit is not required for this year under section 144 of the Charities Acl 2011 (tho Charities Act) and that an indep8ndent 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 Dlrections given by the Charlty Commlsslon under sectlon 145(5)Ib) of the Charftles Act. and ' to stste whether particular matlers have come to my attention. Basls of Independent examlnerfs report Our examlnatSon was carrled out In accor(lance with the General Direction5 given by the Charity Commissioners. An examlnatlon indudes a review of the accountlng records kepl by the charity and a comparison of the accounts presented with Ihose records. It also includes consideration of any unusual it&ms or disclosures in the accounts. and seaking explanations from you as trustees concerning any such matters. The procedures undertak8n do not provlde all the evidence that would be required in an audit and consequently we do not express an audit opinion on the velw given by the accounts. Independent examlnerfs statement In connection with our èxamination. no matter has come to our attènllon: 1. which gives u5 reasonable cause to believe that In any material respect the requirements (a) to keep accounting ￿COrdS in accordanc8 Wlth sectlon 130 of the Charitles Act: and (b) to prèpare accounts which accord with the accounting records and to comply with the accounting requirements of the Act, have nol bèen 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. Mlchael Adamson and Co Chartered Accountants 9 Thomdon Park Close Leigh on Sea Essex SS9 4RH Date.. 8amuel Montagu Youth Centre Statement of financlal actlvltles for the year ended 31 March 2025 Restrlcted Unrestrlcted funds funds Notes 2025 2024 Income and expendlture Incomlng r•sourcg8 Grants recelvab18 Investment income Other incoming resources 68,343 84,413 5,781 161,073 152,756 5.781 161,073 105,106 4,672 144,233 Total Incoming resourc08 68.343 251,267 319,610 254.011 R￿OUrCeS •xp•nded Cost of g•n•ratlng fundg Direct charltable expenditur8 Govemance costs 68,343 180,715 1,011 249,058 1,011 200,920 1,096 1,6,7 Total axpendltur• 68,343 181,728 250,069 202,016 Net Incomlngl (outgolng) re8ourc•s for the year 69,541 69,541 51,995 Stat•m•nt of other r•cognls•d galn• and Io$s08 Net (outgolngylncomlng resources before other recognised gains - Net movement in funds 69,541 69.541 51,995 Total funds brought forward 1,368,759 1,368,759 1,316,764 Total fund8 carrled forward 1,438,300 1,438,300 1,368,759 The surplus for the year represents the lotal recognised gains for the period. None of the charittys activities wer8 aquired or d Iscontlnued during the current or previous year. The attached notes form part of these accounts. Samuel Montagu Youth Centre Balance Sheet as at 31 March 2025 Notes 2025 2024 Fixed assets Tangible assets 1,080,310 1,080,415 Curront assets Deblors Cash at bank and In hand 10 162,264 198,740 361,004 116.086 173,828 289.914 Credltors: amounts falllng duo wlthln one year (3.014) {1,570} Net current a88ets 357,990 288,344 Net assets 1,438,300 1.368,759 Funds Unre8trlcted fund8 R8vaulation reserve General funds 13 13 918,873 519,427 918,873 449,886 1,438,300 1.368,759 Approved by the trustees on and slgned on their beh81r. 10 Trustee . Date Dr T. Powlo Trustee . Date.l.a.. Efford MP The attached notes form part of these accounts Sarnuel Montagu Youth Centre Cash Flow Statement for the year ended 31 March 2025 Total funds 2025 Total funds 2024 Net cash used In operatlng actlvlties 15 19,131 8.723 Cash Ilows from investlng actlvltles Interest received Change In cash and cash equlvalents In the perSod Cash and cash equivalents brought for4vard Cash at bank and in hand 1088 overdrafts at 31 March 5,781 24,912 173,828 4,672 13,395 160,433 198.740 173,828 Conslstlng of: Cash at bank and in hand 198.740 173,828 The attached notes fomi part of these accounts Samuel Montagu Youth Cenlre Notes to the A¢counls for th8 year ended 31 March 2025 1 A¢¢ountlng pollcla$ 8asls of preparation of a¢counts The financial statements have been prepared under the historical cost convention, and are In accordartts thè Stat6menl of Recommended Practice: Accounting and Reporting by Charltlès proparing theii a¢counts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10218ffective January 2019 and wth the Charities Acl 2011. The charity constitutes a public benefit entlty as defined by FRS 102. Incomlng resourcos Voluntary Incomè and donations are included in incomlng resourse6 when they are receivable, except when the doner5 specify that they must be us8d in future 8ccountlng periods or donors Conditions have not been fulfilled, then Income is deferred. The income from fees is recorded gross. Grants recelvablo Gr8nts receivable are recorded on tho accruals basis. Resources oxp•nd•d Resources expended are Included in the Slalement of Financial Activities on an accruals basis, Inclusivé of any VAT which c8nnol bè recovered. Expenditure which 1$ dlrèctly attributable to speclflc acllvlties have be6n Included In these cost categorie5. Where cosls are allributable to more than one actlvlty, they have bgon 8PPOrtioned across the cost categoriès on a basls consistent wllh the usa of these resources. Deprn¢latlon Tangible fixed assels are staled at cost188s depreclation. DepreGialion is providèd en all fixed assets 81 ralas calculated lo wrile off the cost on a straighl1Sne basis over thelr useful economic Ilves as follow.. Equlprnenl 10% straight line P•nslons The company operates a deflned contributlon pension scheme. Conlribulions are charged to the prolfl and loss account as they become payable in accordance wlth Ihe rules of the scheme. Governance costs Governance costs include those costs assoclated with meellng the conslltutional and slatulory requirements of the tharity and indude the indepandent exgminevs fees and costs linked lo the slretegic management of Ihe charily. V•lue •dded tax Value added lax is not recoverable by the charity, and as sueh Is included Sn the relevant cost in the Statemenl of Fln3nclal Activities. 10 Samuel Monlaou Youth Centre Notes to the Account3 for tha year ended 31 March 2025 2 Grants rocolvable and donallons R•*trlct•d funds Unrè funds 2024 Royal Borough of Gr88nwich Footb811 Foundalion Jack Petchey Foundation Wares Family Trust London Football Assoclation ACT Trust National Gris Dynamic Scaffolding Other grants and donation5 Samuel Monlagu Facllllles Llmiled 58,992 58,992 40,036 1,620 4,300 3.351 3,351 500 1.000 5,000 14,511 2,000 500 1,000 5.000 14.511 2,000 67,400 67,400 59.150 68.343 84,413 152756 105 106 3 Inv•slmont Income Bank interest received 5,781 4,672 4 Othfrr Incomlng rosourcos nr Tuck shop inGome Other incorne Rental in¢ome 22 22 3,995 445 139,793 144 233 161,051 161073 161,051 161,073 6 Dlrect charltable expendlture tund 202S Grounds and premise8 èxpense8 Water rale8 Light and heat Insurance Salarles, wages 8nd pension conlributlons Staff training Pdnt, post, slalionery and te16phone Computer expenses Cleaning and sanitation Motor and travelllng expenseg Affillatlon and Ilcence lees Sundries Tuck shop expenses Activities Bad debts Legal and professional 27.024 32,352 2.633 4.579 16,535 59,376 2,633 4,579 16,535 26,995 2,581 3,688 14,524 20,000 106,270 126,270 119,920 160 268 1,690 3.793 216 1,195 4,729 216 1,195 4.729 3,197 2,104 3,197 2,104 2.e81 1.886 2,380 20,019 240 95 21.319 6,905 28,224 68,343 180,715 249 058 200,920 Samuel Montsgu Youth Centre Notos to the Accounts for the year ended 31 March 2025 6 Govornanco costs rfct lund 2025 Bank charges Independ8nt examiner's fee Depreclatlon 106 800 105 106 800 105 191 800 105 1,011 1,011 7 Net movement In funds for th• year 2024 The net movement Is after charging.. Depreclatlon of tanglble flxed assets Independent examin8r's fee 105 800 105 8 Staff costs No remuneration was paid to trustees. The staff costs of th6 remaining staff were.. 02 Wages and salaries Penslon costs 118,238 2.991 5,041 112,175 2,850 4,895 Social security costs 126,270 119920 The average weekly number ol staff employed, ¢8lculated as full tlmè equivalents durlng the y8ar was as follows.. 202S 2024 Dirnct charitable work Governance cost$ No 8mployee recelved rémuneration ol more than £60,000. Remuneratlon to key management perscnnel in the ye8r amounted to £42,790 (2024 .. £39,909) 9 Tanglble flxed a•••t8 Fr•ohold land and bulldlngg Equipmont Cast At 1 April 2024 At 31 March 2025 1,080.000 1,080,QOO 32,288 32,288 1,112.288 1.112288 Dopreclatlon At 1 April 2024 Charge for the year At 31 March 2025 31,873 105 31,978 31.873 105 31,978 Net book valu• At 31 March 2025 1,D80,000 1,080,DOO 310 1080,310 1,080,415 At 31 March 2024 415 12 Samuel Montagu Youth C•ntr• Notes to the Accounts for the year ended 31 March 2025 l O Debtors 2025 2024 Trade debtors Othér debtors 8,775 153,489 162 264 5,997 110,089 116,086 11 Cr￿￿Or8 . amounts falllng du8 wlthSn one y•ar 2025 2024 Trade cr8ditors Olher taxes and social security costs Accxuals 1,141 1,873 3,014 1,506 12 Analysls ol nèl as8èts botw•en funds Tanglble fixed assets Net current asset$ 1.080,310 357,990 1,080,310 357.990 1,438,3￿) 1,438.300 13 Mov•m•nt In fund8 At 31 Ma R•8lrlct•d lunds 68,343 68,343 Unre•trlclod funds Revaluallon reserve General funds 918.873 449,886 918,873 519,427 251,267 181.726 Total unr•$lrlctod funds 1,368,769 251267 181,726 1,438 300 Totsl funds 1 388,759 319,610 250 069 1 438 300 ur Re•trict•d fund8 Unfestrfct￿ fvnd• Revaluallon reserve General fvnds 918.873 380,031 918,873 449,886 208,055 138,200 Totsl unfestrleted fund8 1 298,904 208,055 138,200 1368.759 Total funds 1,316,764 202,016 1,368,759 13 Samuel Montagu Youth Centre Notss to the Accounts for the year ended 31 March 2025 14 Comparailve Statèmént of Flnandal Actlvltlès Notès Rfrstrlctod 2024 Unrastrfctod 2024 Toial 2024 Income and èxp•ndftur• Incomlng resources Grants receivable Investm8nt income Other incorning resources 45,956 59,150 4,672 144,233 105,106 4.672 144,233 Total Incomlng rgoource8 208,055 Rosources oxp•nded Cost ol generating fund¥ Direct charitable expendllure Governance costs 63,818 137,104 1,096 200,920 1,096 1,6,7 Total •xp•ndlturn 63,816 138,200 202 018 Net In¢omlng resources lor th• y•ar 17,860 69,855 51.995 ststomenl of oth•r rocognl••d galns ond l¢•••• Net incomlng resources before other rècognised gains - Net movement in funds Total funds brought forward 117,8601 17,860 69,855 1,298,904 51,995 1,318,764 Tolal funds carrled forward 1,368,759 1368,759 15 Reconclllatlon of n•t mov•m•nts In fundB to n•t ¢J•h flow from op•r•tlng actlvltl•• 2025 2024 Net movement In fund8 Add back depreciation Less Interest received Decrease I (increase) in deblor6 Incr8888 1 (decrease) in crèditors 69,541 105 15,7811 146,1781 1,444 51,995 105 (4,6721 (36,535) {2.170) Nat cash used in 0￿ratIng activitias 8.723 14