REGISTERED COMPANY NUMBER: 02510482 (EnglAnd Wales) REGISTERED CHARITY NUMBER: 803638 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR ST. CVTHBERT'S CENTRE (A COANy LIMITED B Y GUARANTEE) ADINI E03 2411212024 COMPANIES HOUSE M5
153
ST. CUTHBERTIS CENTRE (A COMPANY LIMITED BY GUARANTEE) CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 NL4RCH 2024 P8ge R¢port of the Trujteei Independent Examiner'j R¢por¢ Consolidated S¢at¢ment of Flnanclal Aetivitiei ConsolldA¢¢d Balance Sheet 9 lo 10 Notes to the Finaniial Statements Det4il¢d Statement of Fingncial A¢tlvi¢iu 20 to 21
ST. CUTHBERT'S CENTRE {A COMPANY LIMITED B Y GUARANTEE) REPORT OF THE TRUSTEES for tht Y¢ar Ended 31 MARCH 2024 The trusie¢s who are also directors of the charity for the purp05e5 of the Companies Act 2006. present their rewrt with Ihe financial slaiemenls of the charity for ihe y¢ar ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ch8Jities preparing their accounts in accordance with the Financial Reporting StAndard applicabk in the UK and Republic of Ireland (FRS 102) {¢ffe¢iiv¢ l January 2019). Background St Cuthb¢rfs Centre {"the C¢ntr¢") originated in 1987 85 a three.year joint venture between St Cuthbert's Church PCC and The Rufford Foundation in respM)nse lo Fr. Bill Kirkpairick's visionary approach ¢0 tackling disiress irt ih¢ inner-city area of Earl's Court. The projeci opened in the churth hall premises in January 1990 and later that y¢ar incorporat as a s¢wate ¢ntiry. op¢rating indep¢nd¢n¢ly of the church as its l¢nani. In 2017 the Centre rKtrllaboTated with Food for Soul. a charity founded by the renowned chef Massimo Bottura and Lara GitmoTe. to bring an enhanced offering to the Centre. Through joint fundraising th¢ Ccnlre was compl¢l¢ly r¢fibIshCd, and enhanced meal service¥ exclusively ulilising $urpluy food wer¢ provided. The bronding of the charity changed Refettorio Felix @ Si Cuthlxrt's C¢ntr¢ to reflect boih this and the on80ing r¢lationship with ih¢ F¢lix Project who provide almost all of the surplus fgod. OBJEcfivES AND A[VITIEs Pr1C1p1 obj¢¢tive Th¢ principal obje¢tiv¢ of ihe charity. 85 defined in ils Memorandum of As50cialion (incoryoraled into the Articles of A550Ci8tion). 15 the relief of wverty. hord$hip, sickness And distress wnon8St persons in Greater London, In proctice, the Chariry concentrates on those requirin8 such relief who gxe situaied in and around th¢ Royal Borough of Ken$in8ion & Ch¢ls¢4 where th¢ Charity's premi5cs are lorAted. Alm$ ind ¢tlvl¢l The Cenire aims to improve ihe health and wellbeing of its beneficiaries firstly by urtd¢rslandinB And responding to their basic needs. On¢¢ Ih¢s¢ have been addressed it can begin to identify and attend to the more fundarntnt barriers which may prevent those WI attend th¢ Centre from approachin8 mainstre8m support services, maintaining a len&n¢y* inie8faiing inio ihe communiiy or becoming finoncially independent. These or¢ all essential to.Ih¢ pr¢v¢niion of homelessness, both short and lon8 term. In particular, the Centre aims to assess gnd support guesls with m¢nlal h¢alih issues and. Ihrough early inl¢rv¢ntion. pr¢vent further deterioration and the need for more intensive and expensive support. It also aims io achieve And maintain a high quality. flexible And adaptable service thai evolY¢s in r¢spon$e lo th¢ ¢ver-changin8 n¢eds of its guesis, with the aim of r¢habililalin8 every individual lo Ih¢ir MlmuM potential. Throu8h the C¢ntre's involvement and guidanc¢, guests can build their independenee, whilst better accessing boih the siatutory services and more speciHlisi suppon. Howev¢r, b¢yond immediate rescue and support, Ihe C¢nlr¢ 15 focuskd on assisting guests achieve gre¢r 5¢1f-r¢3peci and 3elf-reliance so Ihat they can on¢¢ again p14y as full a port as possible within the local MMunity and society at lar8¢. Pa8e I
ST. CUTHBERT'S CENTRE {A CONIPANY LIMITED By GUARANTEE) REPORT OF THE TRUSTEES ror the Year Ended 31 NL4RCH 2024 OBJECTIVES AND ACTtVlTIES Publ1£ Benefit And Help and Support off¢red At the Cenire The Trusie¢s have had rcgard io the Guidance of ihe Charity Commission on public benefit which if fulfils ihrough its principol objectiY¢ which is stated abov¢ and as further set out below. Th¢ Centre provides a day cenire that is a safe haven and early prevention "saf¢ty net. for th¢ marginalis¢d alienated and dispossessed. Many of the Centr¢'$ 8uests are dealing with major challenges, includin8 homel¢ssness. physi¢al and ment ailm¢niS including d¢tnenti4 $ub5fan¢¢ misusc and extreme poverty. Many liv¢ alone. att¢mpling io Cope wilh old age or ill health. social isolation and som¢lim¢s major psychiatric condilions. Due w their ftagility and lack of self-confidenc¢ they #Je often unawor¢ of. or hide awAy from, welfar¢ profe55ionals and in the absenc¢ tsfthe Centr¢ mi8hl slip off the community's radar altogether and deterio¢ on their own. Th¢ Centre provides a ihree-cowsc meal free of ch8r8e to its guests. The meal is ¢reAled by professional chefs from surplus food to a r¢sr8urant standard on good quality tablew¢. Our guests are s¢rv¢d at the l#ble by our voluni¢¢rs. The food is specifically designed to improve the nutritional intake of our guests. th¢ s¢tting its enhance their self-¢steem and the environment to provide a soothin8 respite to the difficulties faced in the rest oftheir lives. By providing good food in comfortabl¢ environm¢n¢. served by volunteeTS, we hope to encoura8¢ 8ues¢s lo seek out sIstance from the variou5 ancill services provided ar the Centre. ACHIEVEMENT AND PERFORIKANCE Overview of 2023124 Although all aspects of OUT core objectives and aims have been met and continue, at limes. io be ex¢e¢ded, it has bctn challenging year for the Centre. Our income from fundraisin8 hos not been Bs expecied. r¢suliinB in the u5¢ ofour r¢S¢eS to cover corc costs. Wc had been planninB io usc thes¢ reserves as a bas¢ io improv¢ ihe usc of our building and io 8Lve us the confidence lo expand our s¢rvices but we have had no ¢hoi¢¢ but lo apply them in d¢livering our obj¢¢tlV¢5 and aims. It is a iesiam¢nt to ihe d¢di¢4tion of our staff, ntrtorS and volunteers that our guests would not have noticzd any chang¢s in the qualiry ofour lunch servi¢e, both insid¢ ?d in our rak¢8way servi¢¢. as well as in lh¢ quality omd breadth of services we deliver. This is reflected in the continued en8agem¢nl by our guests, partner or8anisalions, volunteers and Staff. Oper¢ionJ Our indoor lunch service has continued io be a vibrgnt ¢xp¢ri¢n¢e with a ihr¢e Course meal provided for free to anyone who drops in. The 8verdge daily attendance is be¢¢n 60 and 80 guests. Made with the majority of ingredi¢nts that would otherwise go io landfill, ow m¢nus are desi8ned for the nutritious value Lg well a$ for the tast¢ an¢J they served at table in the same way &8 a restaurant by our dedicatcd team of volunteers. Our lonBsianding relationship with The Felix Proj¢¢i ¢ontinu¢d to be extremely imporlani as they w¢r¢ 8¢rterally able to maintain the r¢liable delivery of surplus food we requir¢. We also hosted two ChristmLy parties welcoming 175 guests along with a Valentine's Day lun¢h a Lunar New Year lun¢h. Our tskeaway service continued io mn at capgcity, and wc offer the sam¢ 3 rLurse m¢al pa¢kag¢d to be ith¢n away with 2 suprK>rt workers on hand to advise on the problem5 our guests face on a day lo day basis. Having started the takeaway servirx in 2020 oui of necessity we realised li hos opened ihe Centre to m3ny oihers who have been unable io use the indoor service- such as families with young Childre people wlto ar¢ housebound ond thoK living with mental health issu¢s that make indoor life uncomfortable. We will continu¢ to offer FxTrth services for long It is practic and financi411y pJssibl¢. Page 2 ¢onlinued...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES for the Ye*r Ended 31 MARCH 2024 rt servi Our popular lunch service has allowed us to offer a 8re8t¢r variety of pr4¢1i¢al and psychological ¢motional support through counsellirtg. referrals, art and complementary therapies, The we of Ihe space that adjoins th¢ C¢ntre as & suite of thcrapy rooms, the Green Rooms, h&5 beert essential in giving us this increased ¢4pxity. Durin8 ¢h¢ period under review. w¢ were delighted to launch our new community couns¢llin8 service. We arc now able to offcr free counsclling and art Psychotherapy io our gucsts, eliminating Ihc waiting iim¢s thcy would experience on the NHS or the need io pay. In addition to these ¢ounselling sessions, we oifcrcd Homeopathy, Cranio Skeletal Massage and Bouldetslon¢ Technique. Furthermore, in partnership with RBKC, Age UK. Turning Point and lh¢ NHS ¢ommunity nurse specialisi multiple one to one advi¢¢ 5¢55ions wcr¢ provided. Our Menthl Health provision Also continued throu8houl the yepx, with 5UPPOrt now predomin8ntly far¢-io-fac¢ bui Colllinuing ihe remoie offering started irt 2020. The demand for thcsc services ¢ontinu¢d to be high. a challenge Ihal our staff ieam have managed superbly. We again offered a regular weekly winier night shelier over a 22 week Feriod in partn¢r5hip wilh Glassdoor. How¢v¢r, this ye8J we offered iijust to women and during ihat time. 158 different women stayed al least one night, with an average of 31 guests eoch night, Silff and Volunleers During the y¢ar. the Centre had a full-time stAff of eight and A part-lime staff of eight (including contractors). There is a Senior M8m3gemenl T¢am comprising a Chief Exe¢utive and a Head of Operations who together oversee siaff comprising two Chefs. a Ment&1 Health Coordinafor, Ihr¢e Supw)rt Work¢rs. an Adminislr8tor. an Events & Marketing Officer. Event Supponlcareiaking Team and a Trusts and Foundwions Manager. In 2023-24 ihere were 8.055 hours of volunteer support fulfilled by 640 people. These hours volunteered by individuals from all walks of life. marty of whom Teiurn on a w¢¢kly bLqis. as w¢ll &5 community and corporaie groups. Their skills, ¢ommiim¢nl and enthusiasm have h¢lp¢d us ensure thai we are deliverin8 lh¢ beM s¢rvi¢¢s possibl¢ io our guests. The Trustees would like lo thank all m¢mbers of S18ff. contrnetors and volunieers for th¢ ex¢eption&l work they h4v¢ don¢ durirtg the year and the continued positive evolulion in the our cor¢ objectives and aims. K¢y St4ilJtlcs For the 12 months period ¢nding 31 March 2024. we $aYed 19.189kg of surplus food from 8oin8 to londfill whi¢h was used ro provide the followin8 lunche$ ai our inside table seryice.. Tot41 •t¢endante for lunth New Cllentg 38 46 61 April May June July August 783 888 989 1,069 1.238 52 bTT September October November December Jgnuary February March .059 ,146 1.123 824 982 1.129 62 83 63 59 69 72 Total 12J91 762 Pa8e 3
ST. CUTHBERT'S CENTRE (A COMPANY LIM]TED BY GUARANfEE) REPORT OF THE TRUSTEES for the Ye*r Ended 31 MARCH 2024 In addition, we provided 16J34 three-course takeaway lunthes. The following statistics demonstrale the reach the Centre has as a direct result of attracting guesls to our lunch s¢rvice= - The resident Glassdoor Caseworker undertook 1,030 advir£ and unselling sessions a¢rrI 469 indlvidual clients. Our Mental Health Coordinator ¢arri¢d out 591 sessions across 162 unique clients. and Our caseworker carried out 3,630 sessions across 768 unique clients. Guest survey 2023 We ¢arried out a survey of our guests in the summer of 2023. Since attending the Centre.. - 83•/• have felt that their di¢1 had improved or 8reatly improved. S5•/• have felt that their menthl health had improved or greatly irnproved. 62•/0 have felt thcir wellbeing had improved or greaily improved. - 74•/o hav¢ felt th81 their ¢onne¢iion with others had improved or 8reatly improv¢d. - 62•/• have feli their circurnstances had improved or greatly improved. These stalislics are stated as a percenta8¢ of thos¢ survey¢d. Fundralsing ODd in¢ome We received significani donations from Harrods, the Garfield Wesion Foundation, K¢nsin8ton & Chelsea Foundaiion. Drapers Chariiable Fund. the Hollick Family Foundation. the Veronica and Lars Bane Foundatio London Community Found8tion, Suez R¢cyclin8. Food for Soul, lh¢ Albert Hunt Trust and City Bridge Trugl. We a150 received many oiher smaller donLOnS 411 of which are ¢5n11a1 in funding our core aclivities. However, as the fin¥ncial r¢3ul¢s show, this Benerosity not suffi¢i¢nt io cover th¢ ¢or¢ cosls of th¢ Qntre. As we develop Ihe essential supFon services that our guests r¢quire we n¢ed to se¢k mor¢ secure sour¢¢s of regular, mulii-year fiding. Staff from over 50 corpora1¢5 volunteer to help during our lunch Service ihrouBhout the year and we are considering ways in which to partner with iheir respective compani¢s lo cre4tc lon8¢r terni sources of fundin8. We ¢onlinued Ihe promoiion of the priv81e venue hire ¢lem¢nl of our income. This h¢lps the charity b¢wm¢ more fin¥ncially stable by deriving income from the hall when it is not bein8 used for ils chariiable mission. However, this yepx income less ihan anticipal¢d as there were major development works being carried out very close lo the Centre for mu¢h of the key summer months ¥thich deierred potential hirers. Fruslra¢in8lyi this ¢v¢nt in¢om¢ Iw taken longer ihan expecied lo return io ihe oriBinally ¢xp¢cted levels. Th¢ Earl's Court Theaire Group rewmed a8ain this ycor to pres¢Trt their production of Sw¢¢ny Todd in partnership wilh us And h¢ld A dinner show exrIenCe over 4 nights, which w&% well att¢nded and was a sussful ftd raiser. We ¢ontinue 10 8row our engagemeni with the local community 8nd individuals through event$ hosied at ihe Cenire, social media coni¢nt well w the "Friends of Refellorio Felix" club. We will continue to d¢velop thes¢ initiatives and seek new ways lo wnncct with thc local community. Substquent tven¢J The Chi¢f Execulive Officer. Ali Kingsley left the charity on 8 November 2024.Th¢ Trustees will apin¢ an interim CEO on 4 parl-lime basis on 9 De¢¢mber 2024 until a c8mdidal¢ for a pemianent role can be selected. Thc delivery of our ¢or¢ obj¢¢tives and aim3 will continue wiihout disrupiion. The curreni leas¢s of the main h211 and the adjoining offi¢¢s (Gr¢¢n Rooms) in Phill>each GdenS expir¢s on 23 Dcc¢mb¢r 2024. The Trustees are en8aging with the Landlord and exrKci to sign a new lease for 12 montlLS by the end of this C8l¢ndar year. Page 4
ST. CUTHBERTIS CENTRE (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTKES for the Year End¢d 31 MARCH 2024 FINANCIAL REVtEW Fin&Thcial results for the year tndtd 31 MAreh 21124 The results include those of Refettorio Felix Lid. the Charity's wholly owned trading subsidiary. Income decreased from £604.780 in the previous year lo £498,500 for this financial p¢riod. This d¢creasc also less than ihe budg¢i and is principally due lo less than expected grants and donations from trusts & foundations, COrpor¢s &% well as less than budgeted prod$ from inhouse events. Costs increased to £597.209 from £542,303 for the prior year. representing an increase of 10. Iyo. This 6.0% over budget and was principally due to an un&niicipaled requiremen¢ for contTa clearters, an increase in the takeaway packaging due lo an incre&s¢ in the number of 8U¢5ts served and an unantl¢LPated contribuiion lo roof repairs. Staff costs a percentage of total costs deCred marginally from 6W/ts in 2022123 to 6711/0 in the period under review. A d¢ficit registered for the year of £98,709 (2023.. surplus of £62,477) reported in the consolidated staiemcnt of financial activiries on pa8e 6. Re8erve$ poli¢y The Trustees have a reserves policy that aims io build up unrestri¢ied funds Over a period , financial resulcs pemittin io a level that would help to ensure ihe Wftiinuation of the C¢nlr¢'s opcralions for at leasi 9 months, during a p¢riod of unforeseen difficulty &s well as for general mainienance and ini¢rnal r¢pAirs io the buildiri8. Based on th¢ 2024125 budget, th¢ tar8el level of this G¢n¢ral Fund would b¢ £427.729. Al ih¢ y¢V*end Gen¢r&l Funds Stood 81 £352.8IXI. STRUCTURL GOVERNANCE AND MANAGEMENT Governin8 do¢um¢nt The charity is constituted as a mpoY. limited by guargnt¢¢. as d¢fined by the Companies Act 2006 and governed by its Articles of Association. The Trustees (who are the Dir¢¢lors of the Company and form the Board of Directors) have full responsibility for the charity's values, mission. strategy and bud8et. The operaiional decisions are led by ihe Chief Executive using his dele8aled authority from the Board ofDireclors, 4ssisl¢d in the day to day runnin8 of the charity by o team of staff gnd volunt¢ers. Risk management The lack of predictable and consistent funding remains a major risk for ihe on80ing operations of the charity. Actions that have been laken to mi118ate this risk include investin8 in the h91110 increas¢ r¢v¢nu¢ from privoie hire in njunctIon with th¢ ¢mploym¢nt of a d¢di¢ai¢d event5 maniger. Additionally. makin8 the trusi 4nd found&lions officer a full time role hos enabled a wider source of donors to b¢ approached whilsi th¢ mainlenan¢¢ of 5ufYicieni gen¢r&l reserves underpins the ability for the charity to deliver ifs obj¢¢tlV¢s. 0ratIOn8]nd fanCial risks are monilor¢d and managed through eff¢ciive control polici¢s which ar¢ r¢viewed periodi¢ally. Pag¢ 5
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUARANTEE) REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2024 REFERENCE AND ADM]NISTRATIVE DETAIiS R¢gi5tered Comp*ny thumber 02510482 (Englond and Wales) Regi5t¢red Charity number 803638 Regislered offite 51 Philbcach Gardens Earl's Court London SW5 9EB Trustees Michael A And¢rson Julius M Bozzino (Tr¢asurer) AIBn J Brown Ann M Guindi (resi8ned 30.10.23) Richard J I Parker {Chairnian) Martin A F Sh¢nfield David J Yianni Miranda E Keasl Deborth M4rie Ruddy Amandg Louise Coldrick (apFointed 30.1.24) Compgny see(ry Emma C Pric¢ (resi8n¢d 31.12.23) Tina A. Arnold (appointed 01.01.24) This report has been prepared in actordance with the special provisions of Part 15 of the Companies Aci 2006 relating to small companies. 1211912024 Approved by order of th¢ l)oard of trnstees on ........ . and signed on its b¢half by.. Tina Ai'no ec 19, 2024 11..29 Gmn TinA Arnold- Se¢ietary Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST. CUTHBERT'S CENTRE (A COMPANY LIMITED B Y GUARANTEE) Independtn¢ ¢xamin¢r'g report to ¢h¢ trw$t¢es of S¢. Cu¢hbert's C¢n¢r¢ (a Company limited by guar8ntee) I'th¢ Comphny,) I report io the charity trusltts on my ex8mination of Ihe accounts of the Company for ihe year ended 31 Marth 2024. Responsibilillt$ and bw$iJ tsf report As the charity's lrustees of the Cornpany (and also its directors for the pur]xis¢s of company law) you a resronsible for th¢ preparation of the accounts in accordance with the requirements of the Companies 2006 cihe 2006 Act?. Having satisfied myself that lh¢ acnts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for indendent examinaiion. I r¢port in r¢sp¢ct of my examination of your ¢hority's accourtts carried oui under Section 145 of the Charities Act 2011 ('the 2011 Aci,). In ¢arryin8 Out my exominalion I have followed ihe Directions given by thc Charity Cornmission under Section 145(5) {b} of the 201 l Act. Independent exAmlner'i statement Since your charity's Bross income exceed £250.000 yow ¢xamin¢r must b¢ a rriemb¢r of a listed body. l Can confirm that l am qualified lo und¢rt8ke the examination becaus¢ I am a member of the Institute of Chartered Actountants in En818nd and Wal¢s. which 15 on¢ of th¢ listed bodies. I have compl¢t¢d my exwnination. l ¢onfimi that no matters have come to my attention in connection with theexaminalion 8ivin8 me Cause lo believe.. accountin8 records were not kept in respect of the Company as required by Seclion 386 of the 2006 A¢1; or the accounts do noi accord with those rccords. or the accounts do noi Comply wilh the a)UntIng r¢quir¢menls of S¢clion 396 of the 21X)6 Act other than any requiremeni that th¢ a¢wunis giv¢ a true and fair view which is not a matter considered as pgrt of an independent examination. or the &¢counts have not been pr¢par¢d in a¢rA)rdonce with the methods and piinciples of the Siatemeni of ReMmended Pradic¢ for accounting and reporting by Charities (applicable to ch&ities preparing their accounts in accordance with the Fingmcial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102)). I hov¢ no ton¢erns and h&v¢ me across no other matters in wnn¢c¢ion wilh th¢ examination 10 which attention should b¢ drawn in this report in order lo enable a proper understanding of the accounis to be reached. MaiiiSce 8Yiiidlpv lQoc 10. 2024 11'.13 GM Mllurice Brindley Bsc FCA 1212012024 Pa8e 7
ST. CUTHBERT'S CENTRE (A COMPANY LIfvIITED BV GUARANTEE) CONSOLIDATED STATEMENT OF FtNANCIAL ACTIVITIES (INCORPORATINC AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 K4RCH 2024 31.3.24 Total funds 31.3.23 Totsl fund$ Unr¢stricted funds Restricted funds Notes INCOME AND ENDOWMEKfs FROM Donations and1¢8a¢l¢S 385.592 385.592 485.602 Charitable activitl H411 lettings and ¢v¢nts 1fy).738 100.738 111,269 Inveslm¢nt income Total 498 500 498 500 604 780 EXPEIYDITURE ON Raising furtds 8,690 8,690 25.608 Charitable gctlvltles Hall lellin8s and events Social Work and Meal Provision 23,392 565 127 23,392 565 127 9.519 507 176 Total 597 209 597 209 542 303 iYET INCOMEI(EXPENDITURE) (98,709) 198,709) 62,477 RECONCILIATION OF FUNDS Totsl funds brought forward 445,466 6,043 451,509 389,032 TOTAL FUNDS CARRIED FORWARD 346.757 6.043 352.8th) 451,509 The notes forni part of th¢se financial slal¢ments Page 8
ST. CUTHBERT'S CENTRE (A COMPANY LIlTED B Y GUARANTEE) {REGISTERED NiiMBER: 02S10482) CONSOLIDATED BALANCE SHEET 31 MARCH 2024 31.3.24 Total funds 31.3.23 Toial fvnds Unr¢siri¢ted R¢siri¢t¢d funds Notes FIXED ASSETS Tangible &wts Inv¢siments 13 14 17.658 17,658 20,868 17,658 17,658 20,868 CURRENT ASSETS Debtors Cash at bank 26,797 398 $37 26,797 404 580 42,049 495 152 425.334 6.043 431.377 537,201 CREDITORS Amounts falling due wiihin one ycar 16 (96.234) (96.234) (106,560) NET CURRENT ASSETS 335 142 430641 TOTAL ASSETS LESS CURRENT LIABILITILS 346.757 6.043 352,800 451,509 NET ASSETS 346 757 352 800 451509 FUNDS Unrestricted fuftds.. General fund R¢stricied fvnds 17 346.757 445,466 TOTAL FUNDS 352 800 451509 The charitable company is entitl¢d lo ¢x¢mption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have noi r¢quired the company lo obtain An audii of its financial stAiements for the year ended 31 March 2024 in accordance with Seclion 476 of the Companies Acl 2006. The trustees a¢knowledge their responsibilities for {a) ensurirkg th81 the ¢haritabl¢ company keeps accounting records that comply with Sections 386 387 of th¢ Companies A¢1 2006 and preparing financial stal¢ments which give a true 8nd fair view of the st8te of affairs of the charitable company as at th¢ end of ¢a¢h finartcial year and of its 5urplu5 or d¢fi¢it for ¢a¢h finan¢ial year in accordance wilh the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Compani¢s Act 2006 relatin8 to fmancial stat¢m¢nts, $0 far as appliuble lo the ¢haritable company. (b) Th¢ notes form part of these financi statements Page 9 ¢ontinued...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUAKwfEE) {REGISTERED NUMBER: 02510482) CONSOLIDATED BALAIYCE SHEET- Continued 31 MARCH 2024 These financial stst¢mcnts have been prep3Jed in attordance with the provisions applicable to charitable compani¢s Subject to the small comp8nies regim¢. 1211912024 The financial ststements were approved by the Board of Trustees and authorised for issue on.................................... . . and were signed on its behalf by- Ri<hard Pai'kei. (Oec 19. 2024 14".11 GMTI Richard J I Porker. Trustee Julius M Bozzino- Trustee The notes form part of these financial Siatemeftts Page 10
ST. CUTHBERT'S CENTRE (A COANy LIMITED B Y GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS foT the Year Ended 31 i¥fARCH 2024 ACCOUNTING POLICIES B8sis of preparing the financlal statement5 and assessment of going concern The fmancial Siai¢m¢nts of the charitable company. which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'A¢¢ouniing and Reportin8 by Charities.. Statem¢nt of Re¢ommended PrtIce 4)plicable io charities preparing their accounts in accordanc¢ with the Financial R¢porting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) (effe1ve l January 2019)., Financial R¢porlin8 Standard 102'The Financial Reportin8 Standard llpplicable in the UK and R¢public of Ircland, and the Companies Act 2006. The fjnancial 5talemenls have been prepared under the historlcal cost conv¢ntion. with th¢ ¢x¢¢ptiort of invesiments which are in¢lud¢d at market valu¢. The Trustees wnsider that Ih¢r¢ are no materiol uncertainties gbout the ChIty'S ability to continu¢ as a 8Oln8 concern. The fingncial Sts¢¢m¢nt5 ar¢ prn¢¢d in sterling {£). Critlcal af counting Judgemetyts and key gour¢¢s of e$tim#tlon ¢trIalty In pr¢paTin8 financial statements it is nc¢¢ssary to make ¢¢rtain judgements. ¢stimal¢d and assumptions that affect the amounts re¢ognised in the fthancial statemenis. The following judgements and es¢imf4tes 8r¢ nSidered by the trusiees to have most significant effect on amounts reM8nised in the fthancial stat¢m¢nts. Us¢ful economic life of fangible fixed Sets.. Th¢ annugl d¢preciaiion charg¢ for ian8ible setS is sensitive to chan8¢s in the estimat¢d usefijl cconomic lives and residual values of the asseis. The useful ¢0M]c lives and residual values ar¢ rea%s¢ssed annually. They are amended when neCessY to r¢nect current ¢Stim01es, bas¢d on l¢¢hnolo8i¢al advancement, fu¢ure inveslm¢n¢s, economic ulilisaiion and ih¢ physical condition of the assets. GrAnts &nd dontlons Income from Brants and donations is brou8ht into the a¢¢ounts when re¢eived unless it relates lo expendilure after the balan¢e sheet dale when it is carried forward as deferred incorne. Income from gromrs and donations is credited to the uc¢umulaied fund unless resiri¢ted by th¢ donors io specific purposes. Surplus N¢t income MAY also bo transferr¢d to and from & General Reserve al the discretion of the Trustees. Eyp¢nditure Liabilities are recognised AS expenditure &$ soon os there is 8 le881 or constructiv¢ obli8ation ¢omrnitting th¢ charity to ihA¢ expendiiure, it is probabl¢ Ihal 4 transfer of CnomiC benefits will be required in settlemenl and Ihe amouni of th¢ obli8g1ion can be MeUred reliAbly. Expendifur¢ is a¢¢ounted for on an a¢¢ruAls bosis and has been elassified under h¢adin8s thai aggr¢gai¢ all cost related to the cate80ry. Where cnsts carLnot be direcily gttribuied (o particular headings ihey have b¢en all0¢8d to activilies on a basis consisienl with th¢ use of resources. Tangible fixed assets Furniture and equipm¢nt 1$ written off oyer A 10 year period on 4 striighi lin¢ bls. On occLsion, if lh¢ c05t of fixcd assets is covered by specific donations during thc year. such fixed assets may bc fully eXpEnd during the r¢lev4nl year. V4lue dd¢d 18x Value add¢d tBx born¢ is included with ihe r¢lativ¢ ¢xpens¢ or asset 8nd ig noi shown s¢parately. Debtors Trad¢ and other d¢biors are reco8nised at th¢ settlem¢nt amounl. Prepayments are valued at the amount pr¢paid. Cash at bank and In h8nd C&sh 91 bank and in hand includes Cas curr¢nt bank ac¢ouniS And deposii bank a¢Unts with no wiihdrawal limitations. Pag¢ 11 continued..
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED B Y GUAIL4NTEE} NOTES TO THE FINANCIAL STATEMENTS- ¢otttlnued for the Year Ended 31 MARCH 2024 ACCOUNTING POLICIES- continued Creditors Creditors are re¢ognised where then charity has a pr¢s¢nl obligjtion resuliing from a p&qt ¢v¢nt that will result in the transfer of funds io a third party and the amount due to settle the obligation cati be measured or estimated reliably. Creditors ar¢ regniSed ai th¢ir settlement amount. Vglue dded tax CTeditor$ are recognised where then charity has a preseni obli8aiion resulting from a past event that will r¢suli in the transfer of funds ¢0 a third party and ihe amount due to settle th¢ obligation can be measured or eslirnated r¢liably. Creditors are T¢ckngni5ed at their settlement amount. Fund iccountin8 Unrestricted fimds can bc used in a¢¢ordance with thc ¢harilabl¢ obj¢ctiY¢s a¢ th¢ dis¢r¢tion of the mistccs. R¢3tricl¢d funds can only IK Used for pgrti¢ulaT r¢51ri¢l¢d purposes within ih¢ objects of the Charity. Resiri¢tion$ arise wh¢n sp¢¢ifi¢d by th¢ donor or when funds are raised for parfiGular restricted purposes. Further explanAtion of the nature and purpos¢ of each furbd is includ¢d in the notes to ihe financial slatemenls. PenJi(Jn tosts #nd olher p091-retlr¢rn¢nt b¢nefi¢$ The charitable company Oper¢8 a defined contribution pension scheme. Contributions payable the ¢h8ri14ble company's pension sch¢m¢ ar¢ ¢harg¢d to the S¢&l¢m¢nl of Financial A¢livities in the period to which they relate. Flnnclal Inierumtntl The. tharity only has financial se15 and financial liabilities of a kind that qualify as b1¢ firtan¢ial instruments. Basic financial in3trum¢nls are initially trIed al tran$8¢1ion value and subsequently measured ai iheir selllemeni value with Ihe cxrxyion of bank loons which are Subsequenily measured at 8morlised cosi usin8 the etTeciive intere* method. DONATIONS AND LECACIES 31.3.24 31.3.23 General donaiions Grants 75.302 233,180 252 422 Page 12 ontinu¢d...
ST. CUTftBERT'S CEWTRE (A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE FtNANCIAL STATEMENTS- contlnued Cor the Year Ended 31 MARCH 2024 DONA TIONS AND LEGACIES- ¢ontinued Grants received. included in the above. are as follows.. 31,3.24 31.3.23 The Veronica and Lars Ban¢ Foundation Circle Investments City Bridge Foundaiion C Talisman Drapers. Chariiable Fund Earl's Court tkv¢lopment Company The February Foundation Forresler Family Trust Food for Soul French Huguenot Church of London Charitabl¢ Trust Garfi¢ld W¢ston Found8tion Harrod5 Hollick Family Foundation Lloyds Bank Foundation London Community Foundation Peter Siebbin8s Memorial Charity Suez Recy¢lin8 Strand Parishes Trust The Albert Hunt Trust The Arn)our¢rs & Br&siers' Compgny The Goldsmiths Company The Julia and HAns Rausin8 Trust Th¢ Kensington and Chelsea Foundation The Royal Borough of Kensington & Chelsea The Worshipful Compony of Insurers World Wings International Oih¢r grants <£lO.000 10,000 40,000 36.030 40,OIKI Is,0 9,000 10.000 28.710 15.( 5,000 32,375 7,447 5,000 30,000 30.000 20,000 10,000 10,000 2,250 10,000 9,900 10.000 6,000 15.000 2,500 2,4¢)0 6,OlX) 7,000 2.500 14,300 26.500 46,787 7,000 1.000 30.000 2,000 INVESTMENT IIYCOME 31.3.24 31.3.23 Deposi¢ COUnt int¢r¢st 12,170 Page 13 con¢inu¢d...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED By GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- ¢on¢inu¢d for the Year Ended 31 MARCH 2024 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Activity Hall lettingj and events Hall letting5 100 378 111269 IL41sll¥G FUNDS Rigln2 don&tlOll8 and leg4¢ies 31.3.24 31.3.23 Fundraising ¢o$ts Cost of events 31.3.24 31.3.23 Staff wsts Event expenses 9.730 376 A88re8aie amounts CHARITABLE ACTIVITIES COSTS Support sts (see note 7) Direct Costs Totals Social Work and Meal Provision Hall lettings and ¢v¢nts 531,890 33.237 565,127 SUPPORT COSTS Governanc costs Financ¢ TofAIs Social Work and Meal Provision 845 NET INCOMEI(EXPENDITURE) N¢1 incomel(¢xpenditure) is stsd after ¢hargingl(crediting)'. 31.3.24 31.3.23 Depreciation- owned &%s¢ts Independeni examiners fe¢ .3,210 2,160 .578 2.160 Page 14 continu¢d...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FtNANCIAL STATEMENTS- contiftued for the Yegr Ended 31 MARCH 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no Irusttts, remuneration or other benefits for the year ended 31 March 2024 nor for the yeor ertded 31 March 2023. Truitees, expenses There were no trustees, eXpe8¢S paid for the year ended 31 March 2024 rrf)r for the year ended 31 March 2023. Key management personnel The k¢y management of pcrsonn¢l of th¢ chwity, comprise the trusl¢¢$. CEO and Head of Operations. Th¢ lot41 remuneration paid to m¢mbers of the key management of the cltarity was £89,449 (2023 £84.803). io. STAFF COSTS 31.3.24 31.3.23 Wa8es omd salaries Social Security Costs Other pension sts 337.713 25,824 324,363 24.127 383 689 368.447 average monihly number of employees during the year was as follows.. 31.3.24 10 31.3.23 10 Administration. care and catering stsff No employees rettived emolum¢nts in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FIIYANCtAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donaiions and le8a¢i¢s 406,440 79,162 485,602 Chritable atlivities Hall lettings and evenis 94.431 94,431 Investment income Total 508 730 587 892 EXPENDITURE ON Raising funds 25.608 25,608 Ch8ri¢oble activiti Social Work and M¢al Provision 427 654 507 176 Tot1 453 262 532 784 NET INCOMEI{EXPENDITURE) 55.468 (360) 55.108 Pag¢ 14 ntinued..
ST. CUTHBERTS CENTRE (A COMPANY LIMITED B Y GUARANTEE) NOTES TO THE FtNANCIAL STATEMENTS- contlnued for the Year Ended 31 MARCH 2024 ii. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unffslricted Restricted fund$. funds Totsl funds RECONCILIATION OF FUNDS Total fun(ts brought forward 382.629 6.403 389.032 TOTAL FUNDS CARRIED FORWARD 438 097 444 140 12. DONATED GOODS AND SERVICES During the year the Felix Project donated 5ignificani amouftts of f¢)od lo th¢ charity, making li p)ssible for Si Cuthbert's C¢ntre to provide meals lo lis b¢neficiari¢s. li is not po$sibl¢ lo put M monetary value on (h¢se items. ij. TANGIBLE FIXED ASSETS Fixtures finin8S COST Al l April 2023 and 31 March 2024 DEPRECIATION At l April 2023 Charge for year 47.975 Al 31 March 2024 NET BOOK VALUE Ai 31 March 2024 Ai 31 Mawh 2023 Page 15 continued...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED B Y GUARAKfEE) NOTES TO THE FINANCIAL STATEMENTS- ¢on(Inued for tbe Y¢ar Ended 31 MARCH 2024 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Oihcr debtors Refettorio Felix Lid Prepayments and accrued income Accrued income 23.090 33,725 3,333 374 3,333 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31,3.24 31.3.23 VAT Other ci¢dilors Deposits Due lo Subsidiary D¢ferred income Accrued ¢xp¢nses 9,956 4,414 3,053 4,640 4.500 38,215 43.369 105 560 16. MOVEMENT IN FUNDS Nel movement . in fund5 At 31.3.24 Ai 1.4.23 Unrestrltltd fund$ General fund 445,446 (98,709) 346.757 Restrlcted funds B&ihroom Up8rad¢ Flat Rcfvrbishment 3,976 3,976 TOTAL FUNDS 451.509 (98,709) 352.800 Page 16 ntinued...
ST. CUTHBERTS CENTRE (A COMPANY LIMITED By GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- continlled for the Year Ended 31 MARCH 2024 MOVEMENT IN FUNDS- eontlnu¢d Net movement in fijnds, included in the abov¢ are as follows.. Incoming resources Resources cxpendeAi Movement in funds Unres¢ri¢t¢d funds General fund 414,373 {573.817) (159.444) TOTAL FUNDS 414373 573 817) 159444 Comp4ratfv¢s for movem¢n¢ in funds Nei movemenl in funds At 31.3.23 Ai 1.4.22 Unres¢ri¢ted fuDdJ General fund 382,629 53,468 438,097 Restricted funds Bathroom Upgrade Flat Refurbishm¢rb¢ Samaritans- Emergency A55iStan¢e 3.976 2,067 360 3,976 2,067 360 360 TOTAL FUNDS 389 032 444 140 ComparAlive net movemenf in funds, in¢luded in the gb)ve are as follows.. Ineoming resources Resour¢e$ exp¢ndcd Movement in funds .Unreslritt¢d funds General fund 508,730 (453,262) SS,468 Re51rif ¢ed funds Mcnlal Health Work Op¢rational Manager Salary Samaritans. Emergency Assistan 46,787 32.375 (46,787) (32,375) 360 360 TOTAL FUNDS 587,892 (532,784) 55.108 Page 17 rtlinu¢d..
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS- to#tinued for ¢he Y¢ar Ended 31 IARCH 2024 16. MOVEMENT IN FUNDS- totttlnued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrle¢ed fund$ General fund 382,629 (103.976) 278.653 Re$lri¢ted fvDdg Bathroom Upgrade Flai R¢furbishment Sojnariians - Emergen¢y Assistgnce 3.976 2,067 360 3.976 2,067 360 TOTAL FUNDS 389 032 104 336) 284 696 A currenl ye8r 12 months and prior year 12 month5 combined n¢t movement in fvnds. included in th¢ gbove are as follows.. Inming resources R¢sources expetJd¢d Mov¢m¢nt in funds UnreJtrl¢ted funds G¢nernl fund 923.102 (1,027,078) (103,976) R¢stricted fundg Mental HeBlth Work Operalional Manag¢r Salary Samaritans- Emergency A55iStance 46.787 32.373 (46.787) (32,375) 360 TOTAL FU]¥DS 002 264 (1 106600) 104 336) Fund De$¢riptions Men¢l Health Work Funds were given by the Bi-Borou8h Int¢grat¢d commi55ioning (RBKC & Westminster) for Mental Hcalth Work which paid for ihe salary of a dedieated. qualified spe¢iaiisi to assis¢ our guests as pari of the Bi.Borou8h's wider ommunity mental health seryices deliv¢ry Sirat¢gy. This also wvers ihc cost of administrating the role. Bathroom Upgrde Funds were received from Screwfix specifica]ly to upgrade the bathroom and laundry facilities to give our guests a lJ¢tt¢r experience and to be in line with prevailing best practi¢¢. Creen Room> R¢Curbishment Funds were received from the K&C Foundation specifically to refurbish the property adjacent lo ihe hall which will allow the Charity io eXpd th¢ provision of its w¢llne$s and Men1 heqlih s¢rvices through dedicated and private rooms. S*m8rit4ns Emergenty AsslJtan¢e Moni¢s were received from the Samaritans for small ad hoc c&4h payments to guests for ¢merg¢n¢y situalii)ns. Pog¢ 18 ntinued...
ST. CUTHBERT'S CENTRE (A COMPANY LIMITED BY GUARAKTEE) NOTES TO THE FNANCIAL STATEMENTS. continued ror the Yegr Ended 31 MARCH 2024 17. CAPITAL COMMITMENTS At 3 1 March 2024, the company had the following commi¢m¢nts'. Contraets for fvturt tapS1#l expendlture not provided for In th¢ fln4n¢ial Jtatemen¢$ - Property, Plant And Equipment The company has the following future minimum rentsl PAyments for the hall under non canrxllable legses. subject to break clauses. for each of the following periods.. 2024 2023 Noi later ihaft one y¢ar LBl¢r than one yew And not later than fiv¢ years 29,233 40,000 The Company had no oiher off-balan¢e sheet arrang¢menis 18. RELATED PARTY DISCLOSURES SCC entered into an agreement with T.A.L.K Partnership Ltd {"TALK")' to provide community engagement con5ul¢ancy s¢rvices and advice as part of ihe wider fundraising strale8y to engage wilh local Supporters. This eff¢¢iiv¢ from l April 2020 and the fee payable was £500 per monih. This amouni was in¢r¢a5¢d ¢0 £1,000 per month from 19 May 2020 whcn the services wefe expanded to include wider communicalions, marketing and public relations. Mr. Alislair Kingsley, CEO and member of key mBnagemeni p¢rsonnel for SCC, is a director and shareholder of TALK. The a8reement ¢4n be terniin&ted by eiiher party with I months, notirx. 19. GUARANfEE STATUS The company is limiied by 8UArant¢¢ and has no shar¢ capitsl. There were 10 members al 31 March 2024 (2023 10). Every memlxr of th¢ company undertakes io contribute an •nount noi exceedin8 £1 to the assets of th¢ company in the ¢v¢nt of it bein8 wound up. This pag¢ th)es noi forni port of the statutory financial stat¢ments Pa8¢ 20 nlinued...