REGISTERED COMPANY NUMBER.. IJ2510482 (Englgnd and Wthltsl REGISTERED CHARITY NUMBER.. 803638 REPORT OFTHE TRUSTEES ND UNA DITED FJNAN IAL STATEMENTS F R THE YEAR ENDED I NIARCH 202J FOR ST. THBERT. ENTR A COMPANY LIMITED BY GUARANTEE Brindky Millen Lrd 167 Turners Hill Cheshuni Hertfordshire EN89BH èACCN41114)* 2310912023 COMPANIES HOUSE A24 T. CUTHBERT'S CENTRE A COMPANY LIMITED BY GUARANTEE CONTENTS OF THE FINANCIAL sfA TEMENTS r r the Y¢xr Ended l March 202) P¥ge Chief Executive's Rtport Report of the TrtsstttS Jndependerbt Kxamitser's Re￿rt Stfttemtnt of FiDgThcinl Activities Balance Sheet 9 to 10 Cash Flow Statement Notes to th¢ Cash Flow Siat¢ment 12 Notes to th¢ FinAncial St471tmtnts 13 ￿ 21 DelAiled Statemrnt of Finaocial Activilics 22 to 23 ST. CUTHBERT'S CENTRE OMPANY LIMIT&D BY GUARANTEE CHIEF XECtrrivE' REPORT (or the Yt#r Ended JI Mjrch 202J Overvi¢w of kty dtv¢lopmeThts dyring tht yt•r We begari lh¢ y¢ar mueh A5 ive left the ILst an(L with Covid restsitiions having bten lifted in F¢bruary 2022, Iv¢ ivtre free 10 begin 10 maximise lh¢ po*nlial of the charily whilsi siill dealing %Yith managing a sTAtrat)d ieam thai Ive￿ siill prone io becoming inftcted and the challeng¢5 that came ivith thai. As these challthges reced¢d throughout thc year, the Cenlfc bccamc fully operaiional. Our indoor lunch service r¢lumed lo the vibrant ex￿rIenCe li wa5 befo￿ the pandemic iviih a ihreerfoursc meal provided for [￿¢ lo artyone %vho arrivcs ai the Cenirc. Wc noiv operaic al or closc to. capacjty most days Made enrircly from food Ihai ivould olhenvjs¢ go 10 landfill. our tnenus are designed as tnu¢h for iheir nuliilional valu¢ a5 th¢ir tssie and are served ai (he (able 05 in a r¢siaurHni by our dcdicaied kam of volunteers trthantirt8 our 8uesi's self-rtsptu and dignity. Our thkeaway servicc continues th mn ai capacity, offerin8 lh¢ slme thret*oursc mtsl packaged 10 be taktn aivay iyiih iivo care 5UPPOrt workers on hand io advise on the problems our guests face on a day io day b&sis. Having siarted Ihe iakea¥vay service in 2020 out of ncce5ssiy. iv¢ r¢ali5ed il ha5 o￿n¢d up the Centre io many others who hav¢ pr¢viously been unablc io Ihe indoor s¢rvi¢e- such as famil¢e5 Ivilh young children. people iyho are housetound and ih05e living iviih menial heglth i55ues Ihai make indoor lifc un￿MfOrtable. We ivill continue to off¢r both s¢rvic¢s for as lonE 85 IL is pracliol financialty possible. OUT long51anding conn￿li0n with The Felix Projea continud io bc extrtmcly impthtsnt as th¢y werc able lo muintain a reliable dclivery ofsurplus food ihal would othenvise have 8oncio landfill. W¢ continued lo d¢v¢lop further Ihc ihuapwjtic seryice5 we off¢r wthin a 5UÉt¢ of thenpy T￿rn5 which were launch¢d in 2021. This has allowed u$ 10 rnerthse b￿h th¢ variety and brca% both fmm sthff and gueM& and even though l am always ihankcd profusely for my iimc. I feel tha¢ 15hould bc the thankful onc." 'Th¢ ¢ore staff are comrnitied indiv￿￿11% skilled * handling a dLvets¢ InLX of clien￿ many of whom have complex ment81 health issues in addiiion to physical problems." 'As a long ierm volunteer it 15 hf4rtwarmin8 10 sec thc progress Ihai ihe rcgular guests rn8kc ia their Joihing rcspile to thc dirriculiits faccd in the rest of iheir lives. By providing gr￿￿1 fo(Ml in a comfortable cnvironmenL Strved bv volunieLr5. we hope ro ¢n¢ourdge guests 10 sctk ovi ￿l￿ance from Ihc v)rious ancillary setviees provided ai lh¢ Cenlr¢. Page 4 ST. UTHRERT'S CENTRE A COMPANY LIMITED BY GUARA REPORT OFTHE TR STEES for the Year Ended 31 M¥rth 2023 ACHIEVEMENT AND PERFORMANCE Overview of 2022123 The Board is ple&s¢d to a su¢ccssful year for the CentrE with all of i)ur corc obJcciive5 and aims being mcl and, time& extt¢d¢d. This is reflected it) the continued en8a8¢m¢nt by our BueM4 p*rtn¢r orgftnisation% volunteers and our dedicait sraff. The lifting of all Covid rtsrriaions in February 2022 allowed us io #art the yearwith a Se￿Se of tetum 10 norni&lity. We wert pleased 10 See the ieam continue 10 offer Ihe iake4way suvice wcll Is remoie coun5elling' Iwo posilivt. opei?tional Icgacies of th¢ pandemic. As a r¢sul( of Ihss. the Incre￿ In nurnbe￿ wming io rhe hall for ￿r lunch s¢rvi(e has allowed us io offer more praciital nd p5ychologi¢al emotiooal support ihrough counsellin& refura15. art aad tomplernentary therapie5. The usc of the forrner fl21s that join the Cenire. Ihe Green Rooms have tten essential in giving us this irttre4sed ca￿lty. The C¢nire coniiiiuts 10 dc￿nd on the 0rt8oin8 generous financial rtteived froni our donor5. The part-limc t1￿51 and foundation officer bccamt full time during the period t*hith h*$ allowd us 10 apply 10 a widcr specirum ol poieniial grani-makers nd improved our processes for makin8 funding applicaiiorts. Thc incre&8e in income from evcnts htld at the h811 ivas welcome and. again. nJainly due to having a dedicaied member of 10 frKus on this 50urcc. The TA￿1￿5 would like io Iliank all lh¢ charitsble Foundations, Irust5, wrpDrates and othcr organisations as lyell as indivHluals who tO8clhcr makc Ihe iyork thai we do possiblt The experi￿ce our i¢am h&$ built in th¢ lay five years of deliY¢ring frrmi-lin¢ assistantt. ¢￿jp1¢d with the curreni financial siabiliiy of Ihc charity, obli8alts us to eonsider Ihe dtvelopmeni of Iht Ctnirt for nexi five yeao and btyond. To Iliis end, i¥e are acisvely a55essing the provision of accommodaiion and have approved a fed5ibiliry study 10 be dcliv¢r¢d by Hom¢lc5s Link. Further details of our performante and outcomes for th¢ y¢ar, as well as Iww th¢ Centre d¢v¢ior*d are in the Chier Executive's rtport above. Finally.. Ihe T0J￿ees would lik¢ io thank the Chief Execuiive and all memb￿$ of staff. eoniraciots and volunle£fs for Ihe exctpiional %voik (hey ha￿ done dtsring the year and Ihe int￿￿10ry ihey have intr(Alucd in the dtlivwy ofour core objeciives and aims. FINANCIAL RIVIEW Financial results for th¢ y¢xr tnded JJ Mxrrh 2023 Incotnc incrtascd from £438.56? itt ihe prcvious ytaT lo £587,892 foi this financial period. -rhi5 incrcasc is printipally duc 10 Ihe irnprovemtni in hall l¢iiings and ev¢nts folloiwng the parKlernie, the bro&ler source of 8r8nts that have been applied for since the tnove 10 full lime for our trusi and foundation officer and some unexExcied don&iions. Costs ¢ncr¢astd 10 £532.784 from £451.312 for Iht prior year, represtniin8 an increase of 18 IDh. This w&% 9. Ivo ov¢r budget and wa5 principally dty¢ (o hi8hcr encrgy c051S, a ¢0s1.of_living paymeni 10 staff, hi8hw Ihan anricipated tv¢nt-related costs and ihe rcpair of Ihc stairlifi. Siarrcosis ￿ a ptrttniag¢ or rotal costs hav¢ r¢main¢d constsrtt at 6*h12022= 68%). A surplu$ was rtgiY¢red for the year of £55.108 {2022.. deficii of £12.7451 as r¢port¢d in the FiDanrial Siaietnents. Reserves policy The Trusices have a reserves policy ihai aims io build up unre51ricl¢d funds over a pErityJ of lime. finan¢ial results p¢rmiiiinL to a level thai Ivould help ¢0 ensure ihe £oniinuation tsf lh¢ C¢ntre'5 or*raiions for * least 9 monih5' during a period of unfortse¢ii ditTitulty as ivcll a5 for Eeneral maintcnance and iniemal rtpairs 10 ilie building. Based on ihe'2023124 budgei, th¢ tar%ei level of Ihis Gertcral Fund would be £422.566. Al Ihe y¢ar
Useful e¢onomi¢ life of iangible fLxed awts= The annual dcpreciaijon char8t for thngiblc a55tis is sensilive ￿ chat)8es in Ihe cs¢¢ma¢d useful economic Iivc5 and residual values of thc asseL%. The uscful economic lives and residual values are rea5se5sed aDnvally. They #r¢ amEndcd ivhtn necessary 10 refleci curreni esiimaies based ￿ Lcchnological adv￿ceMen1. future inVe$imen￿ cwnotni¢ uiilisaiion and Ihe physi¢al condition of iht a55¢ts. Grants donThtlOflS Income from gianis and donations is brought inio th¢ accounts i¥he￿ r¢cciv¢d unless li r¢laLC$ 10 expendilurc after Ilit balance 5h¢ct date iyhcn li is carricd forward as dcfcrred incorrt. Incomc from granis and donaiions Is crcdiltd 10 Ihc 8ccumulal¢d fund unless resrri¢i¢d by the dojwrs io speeifjc wr￿se$. Surplus Nei incomt may also be Iransfcrrcd 10 and from a G¢neral Resetye * the disctetion ofthe Trustrts. Exptnditure Liabililies are rteo￿lstd as expendtDJre as &5 there 15 a Icgal or COn￿ru￿1¥¢ obligaii¢Jo commiiting th¢ ¢hJrity 10 tha¢ expendlture, Il is probabl¢ that a trdn5fer of ¢conomic bcn¢fJts ivill be required in 5¢1tlement and ih¢ ajnounl ofihe obli8aiion can be measured rtltably. Expendiiiif¢ Is accounitd for on an accruals basis and has been cla55ifi¢d undtr headings Ihtti aggrc8ate 811 c051 rela￿d 10 Ihc category. Whert co￿5 canTroi b¢ direcily 8nribu¢tsl 10 par(icular headings Ihey have been Ilordied to aciiviti¢s on # basi5 consist￿1 with Ihe use of r¢sOur¢￿. T#ngiblt fixcd J55tts FumitUTe and equipment Is ￿Li￿n off ovcr a 10 year periTrJ on a 5rraighi line ba5i5. On ￿￿1510￿. if the rosi or riyed asse￿ is covcrtd by specific donations durin8 Ihc y¢3r. gjch fixed a55¢ts may bc fully UPEnwÉ during lh¢ relevanl ycaT. V8lue added t¥ Value added bome is in¢luded with the rel￿1ve expense OT ass￿ and is noi shown scparniely. Debtors Trade and oiher debiors #re recognised al th¢ sailcmcnr thounL Prepaym¢n¢s ore valutd at ihe prtpaid. C¥$h at bank tsnd in htsnd Cash at bank 2nd in hand in¢ludes c&%h. curreni bank accounts and de￿11 bank accounis with no iviihdrawal limitaiions. Crtditor$ Crediiors arc recognksed ivher¢ then ¢harity has a preseni obligaiim resulting from a past eveni that ivill resulr in Ihe Itartsftr of funds 10 a thitd party and ih¢ arnounl due to wile the obli8aiion can be measurtd or ¢siirnated rcliabl>'. Crtdiiors afc recogni5ed at Ihcir srltlemerLt amount. Fund ¥ccoun11112 Unrcsiri¢lcd funds cat) bc usrd in accordancc with the chariiabk obj-eciiycs ai the discretion ofthe irv51ee5. Restricted funds can only be ustsl for particular restritied Pufposes within th¢ obje¢ts of the charity- ReStriClions 8rise ivhen specified by the donor or whe# furtds are raised for particular restricied putPOS¢S. Further explanation of the nature and pu4xJse of ea¢h furtd is included in the notes io the finantial yaitsnenis. Page 13 ontinued... ST. UTIIBERT'S CENTR A COMPANY LIMITED IIY GUARANTEE NOTE TO THt FINANCIAL STATEMEN for the Ytgr Endod l March 202 ONtinutd ACCOUNTING POLICILS- tohlinued Pension tosts arbd oth¢r post-re¢ir¢mwJt b¢n*fits The chariiable company operd1￿ a defined contribuiion pension scheme. Conlribulions payable 10 Iht ¢hariiable company's p¢nsion xheme ar¢ ¢harged ¢0 ih¢ Siaiemerti of Finan¢ial A¢iivilits In the ￿n(Al 10 ivhich Ihcy rtlaie. Financial instruments Thc charity only has financial asseis and financial liabililits of a kind th81 quallfy as b&%ic financial inmrumenls. Bagi financial inSErumenis are initially senled ar Irar￿¢(lon valve and subscquenily rn¢asur¢d ai iheir settltment value wilh th¢ excepiton of bank loans which 8tr subsequcnily measured w 8ffloniseLI cou ustng lh¢ ¢ffeciiv¢ iRi¢r¢si mcihod. DONATIONS AND LEGACI£S 31.3.23 31.3.22 General dOn￿l0￿S Grants 233.180 252.422 146,708 220,040 485.602 360.748 Gr￿ts received, in¢luded in Ihc ibov¢, are &$ follows.. 31 3.23 31.3.22 Bane Foundatioth City Brid8e I City of Londw) Drapers Charitable Fund February Fo￿ndation Fon.¢￿tr Family Trusi Fr¢n¢h Hugu¢not Church Garfield Weston Foundaiion Hollick Family Trusi Lloyds Bank Foundation Sirand Parish¢5 Trust The Albert Hunt Trust The Armour¢rs & Or￿lerS. Company The Julia and Hans Rausin8 Ttusi The Kensington and Chclsca Founda¢ion The Royal J3orough of Kcrtsington & Chelsea The Worshipful Company ofinsurtrs World Widt Wings Orher granis <£lO.QOO 10,0 28,710 15.0(KJ 15,000 5,IX)O 4,625 i,Ix)O 30.000 lQ.O(KJ 30,000 32,375 30,OCX) 10.000 2,2iO 6.000 7.1)00 2.500 14.3(M) 26,5 46.787 20,000 17,500 59.215 1,500 252 422 220 040 INvE￿MENT INCOME 31.3.23 31.3.21 Dtposil account inierest 7.859 Page 14 Continued... ST. CUTFIBF.RT'S CENTRE A COMPANY LIMITED NOTES TO THE FINAf4ciAL sfATEMENT for thE YeRr Endod 31 M8r¢h 2023 continued INCOME FROM CHARITABLE ACTIVITIFS 31.3.23 31.3.22 Activity Hall Icttings #ryt events Hall Icttings 94.431 57,132 RIISIP4C FUTrIDS Raising dtsnation5 and leg*tits 31.3.23 JlJ.22 rundraising cosis 15,502 9.361 Cost ofevtnts 31.3.23 31.3.22 Sloff ¢osts Eveni ¢xperts¢s 9,730 376 3,383 8.108 Aggregate amounls 25.608 CTrIARITABLE AcfiviTIES coKrs Supwrt costs (see noie 7) Dir¢ct Coms T￿alS Social Work arld Mcal Piovision 490 530 507 176 SUPPORT COSTS GoVLrn￿CC C05l5 rinance T￿ll1$ Social Work and Meal Provision 5LYJ NET INCOMEI(UPENDITURE) Nti incomelltxpcrkliiurcl 15 Ma*d aftcr char8ingl(creditin81'. 31.3.23 31.3.22 Deprecialion - oivned #￿t$ Independ¢ni examiners f¢¢ 1,578 2.160 3,478 Pag¢ 15 oDii•ued... T. CUTHBERT'S CENTRE A COMPANY LIMITED BY GUARANTE NOTE TOTHE FI ANCIAL STA ror tlit Year Endtd 31 Marth 2023 ton in TRUSTEES. REMUNERA TION AND BENEFITS There werr no (ruyeeg retnurteration or oihcr ￿￿rI15 for thc yt4r 31 Mareh 2023 nor for thr ycar end¢d 31 March 2022. Trustte$' expenses There ivere no expense5 paid for the ye8r ended 31 March 2023 nor for t1￿ ycar ended 31 Marth 2022. Key rn¥n¥g¢rn¢nt per$oDpel TtLe key managerD¢ni of personrtl of the thariLy, comprise the trus(ee& CEO and H¢ad of Operaiion5. The ithal r¢inuD¢raiion paid to m¢tnb¢ts of the key management of the ¢harily w&$ £84,803 (2022 £78.6151. 10. STAFF COSTS 31.3.23 31.3.22 Wag¢s and salaries Soci81 security costs Other pension c051S 324.365 24.127 19.955 269,176 17.932 368 447 305,872 Thc average monihly number of employ¢e5 ¢Juring thcyear wa5 qs follows.. 31.3.23 10 31.3.22 10 Adminisiraiion, care and caterin8 Starr No cmployce5 rcccived emolumcnts in excexs of £60.c￿). COMPAIL4TIVES FOR THE ￿ATEMENT OF FINANCIAL ACTIVITIES Unrtmricicd fund5 Rtsiricied futk15 fund5 INCOME AND ENDOIVMENTS FROM Donations and lcgacies 314.136 52,612 366,748 Ch%rit*blt AttlVllKts Hall leiiings and ¢v¢rt¢S 57.132 57,132 Tnvesttnent in¢ome Oiher income 1.956 1,956 Total 385 955 438)67 EXPENDITURE ON Raising fvnds 17,469 17,469 Ch2rit£ble *¢ti¥ilies Social W0￿- and Mtal Provisi 368 234 433 843 TtstAI 385 703 65.609 NET INCOMEIIEXPENDITURE) 252 {12.997) {12,745} RECONCILIATJON OF FUNDS Toial funds brtyjghi forward 382,377 19,4 401.777 Page 16 ¢ontiBued... T CUTFIBERT'S CENTRE OMPAYY LIMITED BY UARANTEE NOT THE FINAN IAL STA TEMEN for the YeHY Ended 31 Ma￿h 202J COMPARATIVES FOR THI STA TEMENf OF FINAf4CIAL AcfiviTIES- ¢ontinued Unryrid¢d fund5 R¢51rici rynds Toial funds TOTAL FUNDS CARRIED FORWARD 382 629 6.403 389 032 12. DONATED COODS AND SERVICES During the year Ihe Felix Proje￿ donatcd significani amounts of fwd to the eharity. making il possible for Si Culhben's Centre 10 provide meals to beneficiarits. It is noi possible 10 put a mortctary value on thesc items. SJ. TANGIBLE FIXED ASSETS Fixlurcs and rillings COST At l April 2022 Additions 46,197 Ai 31 March 2Q23 DEPRECIATION AE l April 2022 Charge fory¢ar 6,397 Al 31 March 2023 NET BOOK VALU Ai 31 March 2023 Al 31 Mar¢h 2022 14. FIXEDASSET INVESTMENTS Shxres in gr0￿p undertakin8S MARKET VALUE Addiiions NET BOOK VALU At 31 MaT¢h 2023 Ai 31 March 2022 The￿ iv¢i¢ no Inve￿Ment assets outsi(k the UK. The company's invesim¢nis ai Ihe balance shed date irt the share eapitsl of compani¢s include ihe follo¥ving.' Rcltttorio Felix Limited Re8iMered office.. 51 Philbcach Garden& London SW5 9EB Class of share.. Ordinary holding 31.3.23 31.3.22 Aggrcgate capii$l •nd rescrycs Profil for ih¢ year 7.320 Pag¢ 17 conlinucd... T. CUTHIIERT'S CENTRE A COMPANY LIMITEI) IIY GUARANTEE TES TO THE FINANCIAL TATEMENTS- c for tht YtAr Ended 31 MArth 2023 inu 15. DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Other debtors Refeiiorio Felix Ltd Prcpaymenis and accn*d irtcome Accrucd income 10,429 1,854 3,333 90,682 30.607 16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 VAT Other ¢rediiors Deposils D¢f¢tred income A¢crued expenses 3.053 4.610 4,500 782 7,7iO 126,368 75,602 158.621 17. MOVEMENT IN FUNDS At 1.4.22 moveineni in funds 31.3.23 Unrestricted funds General fu￿1 381629 55.468 438.(Y)7 R¢5trictcd funds Bathroom Upgrade Flai Rtfurbishmeni Samariian5- Ein¢rgcn¢y AssiMaF 3.976 2.067 360 3,976 2,067 1360 360 6.043 TOTAL FUNDS 389.032 i5.108 444.140 Nei movemenr in funds. included in th¢ abo¥¢ aTe as folloivs-. IncornsDg resourtss Resourct5 expended Movement in funds Unrestrict¢d funds Gcneral fund 50&730 {453,262} 55.468 Re5trictcd fundj Menlcil H¢#lih Work Op¢ration21 Manager Salary Simari(ans- EmerBency Assisiance 46.787 32,375 {46.787} 132,375) 360 79.162 360 TOTAL FUNDS 587 892 532 784 Pa8e 18 eoniifftu¢d... T. CUTHBÉRr' CENTRE A COMPANY LIMITED BY G ARANTEE NOT TH& FINANCIAL STATEMEN ftsr the YeAr Endtd 31 Mar£h 2023 17. MOVEMENT IN FUNDS-contith¥ed Comp4ratiV¢5 for movtmtnt in funds We¢ mov¢m¢nt in fund5 Al 31.3.22 1.4.21 Unrt5tri¢ttd funds General fund 182,377 252 382,629 Restricted futhds Baihroom Upgrade Flat Refurbishment Samaritans- Etntrgency Assisthnce {1,024) 112.333) 3.976 2.067 J60 14.41KI TOTAL FUNDS 401,777 12,745) 389 032 Comparative net movcrn¢ni in futLd5. included in thc #iKTrv¢ arc w5 folloivs= Incoming r¢sourtts R¢5ources cxpcnded Mtsvetneni in fund5 Unrt5tricted funds General fund 385,955 1385.703) 252 Restricted funds Mtnial Htalih Work Bathrootn Upgrade Flat Refurbishtnenl Operational Manager Salary Samariians- Emer8¢ncy A55$S￿Ce 46.787 (46.787) 11.024) 112,3331 14.625) 11.024) 112,333) 4,625 I.zIM) 360 52.612 6),609 TOTAL FUNDS 438.567 451.312) 127451 A curreni year 12 mmihs and prior year 12 months combined ]xJsiiion is as ftslloivs.. Nei movemcmi Ai 1.4.21 At 31.3.23 Unrtstri