| Page | |||
|---|---|---|---|
| Chairman's Report |
|||
| Report ofthe Trustees | 2 to | 10 | |
| Report ofthe Independent | Auditors | 11 to | 13 |
| Statement ofFinancial Activities | 14 | ||
| Statement ofFinancial Position | 15 to | 16 | |
| Statement ofCash Flows | |||
| Notes to the Statement of | Cash Flows | IS | |
| Notes to the Financial Statements | 19 to | 33 |
| 31.3.23 | 31.3.22 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| funds | funds | funds | funds | |||||
| Notes | ||||||||
| INCOME | AND ENDOWMENTS FROM | |||||||
| Donations | and legacies | 2 | 41,766 | 5,000 | 46,766 | 53,059 | ||
| Charitable | activities | |||||||
| Income from Charitable | Activities | 389,543 | 174,110 | 563,653 | 584,833 | |||
| Investment | income | 496 | 496 | 139 | ||||
| Other income | 8,386 | |||||||
| Total | 431,805 | 179,110 | 610)915 | 646,417 | ||||
| EXPENDITURE ON | ||||||||
| Charitable | activities | |||||||
| Operation | ofCommunity | and Arts Centres | 457,010 | 108,889 | 565,899 | 605,436 | ||
| NET INCOME/(EXPENDITURE) | (25,205) | 70)221 | 45,016 | 40,981 | ||||
| RECONCILIATION | OF FUNDS | |||||||
| Total funds | brought forward |
248&318 | 2,981,173 | 3,229,491 | 3,188,510 | |||
| TOTAL FUNDS CARRIED FORWARD | 223,113 | 3,051,394 | 3,274,507 | 3,229,491 |
| HOLBORN C | OMMUNITY ASSOCIATION | |||
|---|---|---|---|---|
| STATEMENT | OF FINANCIAL POSITION | |||
| 31MARCH 2023 | ||||
| 31.3.23 | 31.3.22 | |||
| Notes | ||||
| FIXEDASSETS | ||||
| Tangible assets | 12 | 3,751,369 | 3,559,085 | |
| CURRENT ASSETS | ||||
| Debtors | 13 | 26,601 | 23,458 | |
| Cash at bank | 122,707 | 230,052 | ||
| 149,308 | 253,510 | |||
| CREDITORS | ||||
| Amounts falling due within |
one year | 14 | (171,S07) | (108,782) |
| NET CURRENT ASSETS | (22,499) | 144,728 | ||
| TOTAL ASSETSLESSCURRENT | ||||
| LIABILITIES | 3,728,870 | 3,703,813 | ||
| CREDITORS | ||||
| Amounts falling due after more than one |
||||
| year | 15 | (454,363) | (474,322) | |
| NET ASSETS | 3,274,507 | 3,229,491 | ||
| FUNDS | 18 | |||
| Unrestricted funds: |
||||
| General fund |
223,113 | 248,318 | ||
| Restricted funds: | ||||
| Restricted | 1,000 | 27,303 | ||
| Restricted Fixed Asset Funds | 3,050,394 | 2,953,870 | ||
| 3,051,394 | 2,981,173 | |||
| TOTAL FUNDS | 3,274,507 | 3,229,491 |
| HOLBORN COMMUNITY ASSOCIATION | HOLBORN COMMUNITY ASSOCIATION | HOLBORN COMMUNITY ASSOCIATION | |||
|---|---|---|---|---|---|
| STATEMENT OF CASH FLOWS | |||||
| FOR | THE YEAR ENDED 31MARCH 2023 | ||||
| 31.3.23 | 31.3.22 | ||||
| Notes | K | ||||
| Cash flows from operating | activities | ||||
| Cash generated from operations |
95,397 | 352,942 | |||
| Net cash provided by operating activities |
95,397 | 352,942 | |||
| Cash flows from investing | activities | ||||
| Purchase oftangible fixed | assets | (203,238) | (467,817) | ||
| Interest received | 496 | 139 | |||
| Net cash used in investing | activities | (202,742) | (467,678) | ||
| Change in cash and cash |
equivalents | ||||
| in the reporting period |
(107,345) | (114,736) | |||
| Cash and cash equivalents | at the | ||||
| beginning ofthe reporting |
period | 230,052 | 344,788 | ||
| Cash and cash equivalents | at tbe | end | |||
| ofthe reporting period |
122,707 | 230,052 |
| 31.3.23 | 31.3.22 | |||||
|---|---|---|---|---|---|---|
| f | ||||||
| Net income | for the | reporting | period (as per the Statement of | |||
| Financial Activities) | 45,016 | 40,981 | ||||
| Adjustments | for: | |||||
| Depreciation | charges | 10,954 | 10,954 | |||
| Interest received | (496) | (139) | ||||
| Increase in debtors | (3,143) | (4,648) | ||||
| Increase in creditors | 43,066 | 305,794 | ||||
| Net cash provided | by operations | 95,397 | 352,942 | |||
| ANALYSIS | OF CHANGES IN NET DEBT | |||||
| At I/4/22 | Cash flow | At 31/3/23 | ||||
| f | ||||||
| Net cash | ||||||
| Cash at bank | 230,052 | (107,345) | 122,707 | |||
| 230,052 | (107,345) | 122,707 | ||||
| Debt | ||||||
| Debts fafling | due within | I year | (50,000) | 4,256 | (45,744) | |
| Debts falling | due after I | year | (474,322) | 19,959 | (454,363) | |
| (524,322) | 24,215 | (500,107) | ||||
| Total | (294,270) | (83,130) | (377,400) |
| 3L3.23 | 31.3.22 | ||||||
|---|---|---|---|---|---|---|---|
| Donations | 46,111 | 49,112 | |||||
| GiA aid | 655 | 3,947 | |||||
| 46,766 | 53,059 | ||||||
| 3, | INVESTMENT INCOME | ||||||
| 3L3.23 | 31.3.22 | ||||||
| Deposit account interest | 496 | 139 | |||||
| INCOME FROM CHARITABLE | ACTIVITIES | ||||||
| Unrestricted | Restricted | Total Funds | Total Funds | ||||
| Funds | Funds | 3L3.23 | 3L3.22 | ||||
| f | f | ||||||
| London Borough of | Camden | 675 | 225,779 | 226,454 | 152,079 | ||
| GLA: Good Growth | Fund | 69,998 | |||||
| Grants from trusts and foundations | |||||||
| (SeeNote 16) | 67,165 | 48,331 | 115,496 | 212,437 | |||
| Users' Contributions | and fees | ||||||
| -Classes and activities | 89,181 | 89,181 | 74,972 | ||||
| - Events and Fairs | |||||||
| - Personal budgets (facilitated | by | ||||||
| London | |||||||
| Borough ofCamden) | 43,360 | 43,360 | 44,395 | ||||
| Hire offacilities | 89,162 | 89,162 | 30,952 | ||||
| 289,543 | 274,110 | 563,653 | 584,832 |
| OTHER INCOME | ||||||
|---|---|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||||
| f | ||||||
| Job Retention Scheme Support |
8,386 | |||||
| ANALYSIS OF EXPENDITURE ON | CHARITABLE ACTIVITIES | |||||
| Main | Play f |
Arts f |
Care | Total 2023f |
Total 2022f |
|
| Promotion and Publicity |
208 | |||||
| Class and Activity costs | 2,537 | 120 | 6,457 | 9,264 | 18,378 | 21,959 |
| Staffing (Employees) | 41,834 | 11,144 | 84,542 | 103,421 | 240,942 | 285,578 |
| Staffing (Miscellaneous) | 4,574 | 2,660 | 34,950 | 8,756 | 50,941 | 43,191 |
| Premises | 691 | 4,828 | 5,519 | 9,130 | ||
| Direct Administration | 110 | 3,590 | 2,570 | 6,270 | 6,114 | |
| Fixtures and Equipment | 73 | - | 12 | 85 | 4,058 | |
| 49,056 | 13,997 | 130,231 | 128,851 | 322,134 | 370,237 | |
| Support Costs (Note 8) | 59,809 | 59,809 | 59,809 | 59,809 | 239,236 | 231,446 |
| Governance Costs |
1,132 | 1,132 | 1,132 | 1,132 | 4,528 | 3,753 |
| 109,997 | 74,938 | 191,172 | 189,792 | 565,898 | 605,436 |
| ANALY | SIS OF SUP | PORT AND GOVERNANCE COST |
S | |
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Support | Costs | |||
| Promotion and publicity |
918 | |||
| Activity | Costs | |||
| Staffing | (Employees) | 158,647 | 166,120 | |
| Staffing | (Miscellaneous) | 3,489 | 2,527 | |
| Premises | 61,653 | 43,107 | ||
| Direct Administration | Costs | 13,322 | 11,546 | |
| Fixtures | and Equipment | 2,126 | 7,228 | |
| 239,236 | 231,446 | |||
| 31.3.23 | 31.3.22 | |||
| Governance Costs: |
||||
| Annual | Review/ AGM | 128 | 153 | |
| Auditors | Remuneration | 4,400 | 3,100 | |
| Auditors | Remuneration | -Non Audit Services | 500 | |
| 4,528 | 3,753 |
| 31.3.23 | 31.3.22 | ||
|---|---|---|---|
| Auditors' | remuneration | 4,400 | 3,600 |
| Depreciation - owned assets | 10,954 | 10,954 |
| STAF | F COSTS | ||
|---|---|---|---|
| 31.3.23 | 31.3.22 | ||
| f | |||
| Wages | and salaries | 364,332 | 403,078 |
| Social | security costs | 28,169 | 25,759 |
| Other | pension costs | 7,086 | 22,860 |
| 399,587 | 451,697 |
| 31.3.2023 | 313.2022 | |||
|---|---|---|---|---|
| Self-employed | tutors | 42,040 | 40,948 | |
| Miscellaneous | associated | costs | 12,389 | 4,769 |
| 54,429 | 45&717 |
| Volunteers and Placements |
in the year | |||
|---|---|---|---|---|
| 31.3.23 | 31.3.22 | |||
| Number ofvolunteers | 66 | 64 | ||
| Placements: College Students |
and Work Experience | 16 | ||
| COMPARATIVES FOR THE STATEMENT OF | FINANCIAL ACTIVITIES 31.3.2022 | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| INCOME AND ENDOWMENTS FROM | ||||
| Donations and legacies |
45,158 | 7,901 | 53,059 | |
| Charitable activities |
||||
| Income from Charitable Activities |
206,228 | 378,605 | 584,833 | |
| Investment income |
139 | 139 | ||
| Other income | 5,629 | 2,757 | 8,386 | |
| Total | 257,154 | 389,263 | 646,417 | |
| EXPENDITURE ON | ||||
| Charitable activities |
||||
| Operation ofCommunity and |
Arts | |||
| Centres | 432,543 | 172,893 | 605,436 | |
| NET INCOME/(EXPENDITURE) | (175,389) | 216,370 | 40,981 | |
| Transfers between funds |
58,584 | (58,584) | ||
| Net movement in funds |
(116,805) | 157,786 | 40,981 | |
| RECONCILIATION OF FUNDS |
||||
| Total funds brought forward |
365,123 | 2,823,387 | 3,188,510 | |
| TOTAL FUNDS CARRIED | ||||
| FORWARD | 248,318 | 2,981,173 | 3,229,491 |
| 12. | TANGIBLE | FIXEDASSETS | ||||
|---|---|---|---|---|---|---|
| Leasehold | Ongoing | |||||
| Land and | Redevelopment | Computer | ||||
| Buildings | Costs | equipment | Totals | |||
| COST | ||||||
| At 1 April 2022 | 517,010 | 3,138,870 | 5,746 | 3,661,626 | ||
| Additions | 203,238 | 203,238 | ||||
| At 31 March | 2023 | 517,010 | 3,342,108 | 5,746 | 3,864,864 | |
| DEPRECIATION | ||||||
| At 1 April 2022 | 9S,704 | 3)837 | 102,541 | |||
| Charge for year | 10,000 | 954 | 10,954 | |||
| At 31 March | 2023 | 108,704 | 4,791 | 113,495 | ||
| NET BOOK | VALUE | |||||
| At 31 March | 2023 | 408,306 | 3,342,108 | 955 | 3,751,369 | |
| At 31 March | 2022 | 418,306 | 3,138,870 | 1,909 | 3,559,085 | |
| 13. | DEBTORS: | AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||
| 31.3.23 | 31.3.22 | |||||
| Trade debtors | 19,409 | 18,633 | ||||
| Prepayments | and accrued income | 7,192 | 4,825 | |||
| 26,601 | 23,458 |
| FORTHE YEAR ENDED 31MARCH 202 | FORTHE YEAR ENDED 31MARCH 202 | 3 | ||
|---|---|---|---|---|
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 31.3.23 | 31.3.22 | |||
| f | ||||
| Bank loans and overdrafls | (see note 161 | 45,744 | 50,000 | |
| Trade creditors | 6,331 | 5,043 | ||
| Other creditors | 111,901 | 46,287 | ||
| Accrued expenses | 7,831 | 7,452 | ||
| 171,807 | 108,782 | |||
| 15. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN | ONE YEAR | ||
| 31.3.23 | 31.3.22 | |||
| Bank loans (see note 16) | 454,363 | 474,322 | ||
| 16. | LOANS | |||
| An analysis ofthe maturity | ofloans is given below: | |||
| 31.3.23 | 31.3.22 | |||
| f | f | |||
| Amounts falling due within |
one year on demand: | |||
| Bank loans | 45,744 | 50,000 | ||
| Amounts falling due between two and five years: |
||||
| Bank loans - 2-5 years | 454,363 | 474,322 |
| MOVEMEN | T IN FUNDS | ||||
|---|---|---|---|---|---|
| Net | Transfers | ||||
| movement | between | At | |||
| At I/4/22 | in funds | funds | 31/3/23 | ||
| Unrestricted | funds | ||||
| General fund | 248&318 | (25,205) | 223,113 | ||
| Restricted funds | |||||
| Restricted | 27,303 | 166,734 | (193,037) | 1,000 | |
| Restricted Fixed Asset Funds | 2,953,870 | (96,513) | 193,037 | 3,050,394 | |
| 2,981,173 | 70,221 | 3,051&394 | |||
| TOTAL FUNDS | 3,229,491 | 45,016 | 3,274,507 | ||
| Net movement | in funds, included | in the above are as fogows: | |||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| Unrestricted | funds | ||||
| General fund | 431,805 | (457,010) | (25,205) | ||
| Restricted funds | |||||
| Restricted | 179,110 | (12,376) | 166&734 | ||
| Restricted Fixed Asset Funds | (96,513) | (96,513) | |||
| 179,110 | (108,889) | 70421 | |||
| TOTAL FUNDS | 610,915 | (565,899) | 45,016 |
| Net | Transfers | ||||
|---|---|---|---|---|---|
| movement | between | At | |||
| At I/4/21 | in funds | funds | 31/3/22 | ||
| Unrestricted | funds | ||||
| General fund |
365,123 | (175,389) | 58,584 | 248,318 | |
| Restricted funds | |||||
| Restricted | 90,843 | 62,697 | (126,237) | 27,303 | |
| Restricted Fixed Asset Funds | 2,732,544 | 153,673 | 67,653 | 2,953,870 | |
| 2,823,387 | 216,370 | (58,584) | 2,981,173 | ||
| TOTAL FUNDS | 3,188,510 | 40,981 | 3,229,491 |
| Incoming | Resources | Movement | ||
|---|---|---|---|---|
| resources | expended | in funds | ||
| Unrestricted | funds | |||
| General fund | 257,154 | (432,543) | (175,389) | |
| Restricted funds | ||||
| Restricted | 235,590 | (172,893) | 62,697 | |
| Restricted Fixed Asset Funds | 153,673 | 153,673 | ||
| 389,263 | (172,893) | 216,370 | ||
| TOTAL FUNDS | 646,417 | (605,436) | 40,981 |
| 1st Apr 2 | Income | Expended | st Mar 23 | ||
|---|---|---|---|---|---|
| Unrestricted funds |
|||||
| Donations and Grants |
248,318 | 431,805 | (457,010) | 223,112 | |
| 248,318 | 431,805 | (457,010) | 223,113 | ||
| Restricted Fixed Assets Funds | |||||
| (a) LBCamden s106funding | 95,000 | 95,000 | |||
| (b) Greater London Authority | |||||
| (c) Bedford House Redevelopment | 2,953,870 | 1,524 | 2,955,394 | ||
| 2,953,870 | 96,524 | 3,050,394 | |||
| Restricted - Revenue funds | |||||
| (e) Core | 2,267 | (2,267) | |||
| (d) Volunteering &Outreach |
project | 1,000 | 1,000 | ||
| (f)Gymnasium | |||||
| (g) Under- fives &Play Schemes | 9,654 | 26,319 | (35,973) | ||
| (h) Older People's projects | 3,927 | (3,927) | |||
| (i) Arts &Media projects | 10,455 | 56,267 | (66,722) | ||
| (j) LBCamden Strategic Partnership | 100,000 | (100,000) | |||
| 27403 | 182,586 | (208,889) | 1,000 | ||
| Total Restricted Funds | 2,981,173 | 279,110 | (208,889) | 3,051494 | |
| TOTAL FUNDS - 31stMarch 23 | 3,229,491 | 710,915 | (665,899) | 3,274,507 |
| Total | |||||||
|---|---|---|---|---|---|---|---|
| Grants from trusts | and foundations | Unrestricted | Restricted | Total Funds | Funds | ||
| Funds | Funds | 3L3.23 | 31.3.22 | ||||
| E | 8 | 8 | |||||
| 3 Verulam Buildings |
Trust | 35,000 | 35,000 | 20,000 | |||
| Ageing Better Camden | 7,500 | ||||||
| Bloomsbury Festival |
Office | 1,000 | 1,000 | ||||
| City Bridge Trust | 1,524 | 1,524 | 25,830 | ||||
| Dragon Hall Trust | 2,000 | 2,000 | |||||
| Groundwork VK |
1,037 | 1,037 | 3,845 | ||||
| Garfield Weston | 5,000 | 5,000 | |||||
| Herman Miller |
10,000 | 10,000 | |||||
| lronmongers | 6,120 | 6,120 | |||||
| John Lyon's Charity | 12,500 | ||||||
| London Marathon | Charitable | Trust | 895 | 5,400 | 6,295 | 54,000 | |
| Masonic Charitable | Foundation | 26,204 | |||||
| Misceganeous | 4,704 | 4,704 | 25,113 | ||||
| London Community | Foundation | 5,920 | 5,920 | ||||
| Quinn CSRGrant | 2,185 | 2,185 | |||||
| Semble Network | 1,560 | 1,560 | |||||
| St Andrew Holborn |
Charity | 4,481 | 12,719 | 17,200 | 20,000 | ||
| William Shelton Educational |
Charity | 1,000 | 7,500 | 8,500 | 17,445 | ||
| Young Camden Foundation | 900 | 6,551 | 7,451 | ||||
| 67,165 | 48,331 | 115,496 | 212,437 |